SECRETS TO BUSINESS SUCCESS

[Music] s regards to working with people and like if you're working um let's say you have a job to do for someone someone ask you to do a job for them and it's a certain amount of money and you go there and uh you perform the work because you know more or less what the problem is and few days later the same problem happen you go again you fix the problem because you know what I mean generally what it will be and again a few days later the same problem then when you do search and it's manufacturer so the money you got pay is it like since the job wasn't completed like they wanted do you return that money or that money is still yours since you spend the time to do the job anyways you ordered some I'm sorry I I I lost you at some point repeat it again you were you were asked to do a job so let's say you're fixing something a job to fix something service job or a job like you're you're you're providing a product okay no a service job okay like okay someone has their computers broken and they want it to be fixed you did the job okay and then you fixed it and you came back a few days later it's broken again you fix the real later you have to charge them every single time so but since the problem was unresolved at the end of the day it's not because of the work wasn't done it was done but it was manufactured the problem was um like the printer was bad it's not I got you I got you there okay I got you okay so you have you you uh got hired to do a service job and uh you did the job you uh serviced it but it kepts breaking breaking Because the actual product in itself is broken not because of you you still charge for your time you still charge for your time you still a uh are entitled to to get paid because in the business world it's not like the Torah world that's the major difference between the business world and the world in the business World whether you succeed or fail you still get uh you you you you charge you charge uh because if you're a lawyer uh defends you in a case and he's going to charge you he's going to take a 5 10 15 20 $30,000 retainer depending on your case and depending how much money you have which he's sure to double check before he talks to you the first time before he decides what the bill is and uh after uh after he charges you that retainer he's going to defend you he's going to do some work uh and um if you lose the case he doesn't refund you the money if somebody says listen I'm the best doctor in the world look at all the plaques that they have on the on the uh on the walls look at all the commercials and all the people in the magazines writing about me and I could do a surgery and the surgery goes bad and the person dies guess what he still gets paid the insurance company will still give him a check a big one for that surgery why cuz he still did the work he still did the work he has to get paid same concept you got high to do a job under the the the uh understanding that it is not a unsolvable problem but rather it's a solvable problem because had you known and had the owner known that this is not a solvable problem you would have never agreed to do the job you only agreed to do the job because the owner in essence gave you information under his understanding or her understanding that this is a solvable job they just don't know how to do it they need to hire you so you only agreed to come because it is a solvable job you would have never come and done what you did if had you known that you can't fix it therefore you uh you have to get paid even though the job itself could not be done because it's not your problem it's not your job to fix uh you did what you had to do and that's in essence that's the uh that's the truth now you have to not solving it the person will feel like oh you never given me the solution so you don't have to feel does Doctor feel bad that he killed the patient yes but he still charges the money why because he still did the job he still has to get paid he still has employees he still has to keep the lights on does the lawyer feel bad if if the uh if he loses the case maybe I'm not really sure about them but assuming he does assuming he has a heart in him and he does feel bad uh then uh he still charges the money he's like listen I feel so bad let me give you the money back never in the history of man has that happened I know I spent over a half a million dollar on lawyers I have a Harvard degree in lawyers after you spend half a million dollar on lawyers you could know everything about lawyers all types of lawyers big lawyers small lawyers stupid lawyers other stupid lawyers some smart ones here and there but still not necessarily the best point being is it's the lawyer takes the job I had a I give you a situation of a lawyer I had I had an agreement or was going to sell a piece of my business for a valuation of uh I think it was 48 million and I was going to sell it I was going to get $4.8 million from the guy it was going to buy 10% of the business and uh long story short he had to come up with the money with by selling a piece of real estate and uh or not selling a piece of by borrowing some money against one of his real estates long story short he needed some liquid money and um to to do some other deal that he was doing and uh yeah yes he's like listen do you know anybody that come up with a half a million dollars or a million dollars like yeah I can give you half a million dollar you're giving me once we finalize this deal and you get the money for what you're doing I'm getting $4.8 million from you so you know we're doing business it's not it's not like I don't know the guy so I said I'll give you half a million dollars and we'll have the agreement that we'll add us to the agreement that you're not only going to give me the 4.8 million but you'll give me now 5.3 because you owe me half a million dollars but there has to be a separate agreement for this $500,000 so the lawyers drafted up an agreement they charge me $117,000 for this agreement now when you somebody when a lawyer charges you $177,000 for an agreement you don't spend too much time double-checking it why because you spend $177,000 on four pages of paper surely somebody out of the 800 lawyers they have double checked what they're doing so I signed he signed I sent the money and I'm still waiting for the money 10 years later 14 years later how come how come still waiting cuz the whole Market crashed within the deal meaning he never got the money for that real estate that he had he ended up losing the building and on top of it the stupid lawyer which was one of the top law firms in New York and probably in the country the dumbest lawyer on planet Earth charged $900 an hour what did they do they made the future ownership in my business that the guy was going to own the collateral for the $500,000 that I gave him meaning they made something he doesn't own yet the collateral for the money that he owes me in so many words it was better that they made the cat collateral cuz at least I would have a cat but that's what happened so trust me I lawyers and you know what the best part is they still wanted the money they still listen we did the job we messed up but we still want the money still want the money so they feel bad no point being is this choose your lawyers wisely that's point one point two double check everything and don't trust anyone that's point two point number three is when you do work you have to get paid this is what I tell always I tell people this in general listen yes I know I'm a rabbi but I still have you know a businessman body and you know if you're going to be you're going to be working in the world make the most amount of money you can in a legitimate way don't be humble when it comes to making a living like don't be like oh because I'm Jewish I'm going to do things for a discount it's not a Mitzvah to do things for a discount it's not a mitvah to do things for a discount there's no mitvah of being a disc discount broker or being a discount Merchant there's no Mitzvah there whatever you do whatever it's worth charge that why because you're working if you think you're worth $1,000 an hour charge $1,000 an hour you think you're worth $500 an hour charge $500 an hour what you're already working if you're not going to do that go learn if you want to be if you want to live just uh paycheck to paycheck barely eating go be an don't don't go to work at all then might as well be but if you're going already work if you're already going to be a engineer a builder a lawyer whatever you're going to be and you're doing legitimate business again I'm assuming everything you're doing is legitimate make your money do whatever you can charge whatever you charge Don't Think Twice don't feel bad for it and by the way as like a little side note of a person that knows a little bit about money people don't like discounts as much as people will make you think no no I only buy a discount the guy that only buys a discount he's not a good customer you know who's a good customer the guy that doesn't buy discount he wants to buy the most expensive that's the guy you want that's the guy you want who are the most successful companies in the world it's not the dollar stores I promise you dollar stores are always on a verge of bankruptcy you know who's who's the most successful Apple Coca-Cola why cuz they charge a lot they charge a lot but they make sure it's worth it they the first company said listen you want a phone $1,000 what do you mean $1,000 I could buy a phone for 50 bucks I get for free where where I buy $45,000 because the best and they delivered and now they're I don't know $500 billion company whatever they are the point is that people want to pay more but they want to get what they want so if you can deliver what people want you should feel perfectly fine charging whatever you want to charge for it but if you're a you know if you're a con artist then it's better you charge for a discount at least you'll go to get them for a little shorter time but the point is is that you know if you're doing business honestly with Integrity don't be a discount broker don't be a discount person charge your money do your thing and uh it it's not a uh it's not a sin to uh to uh to make money but again it's under the uh understanding that you're doing business honestly and as far as the the customer uh sometimes the customer wins sometimes the customer loses if you did your best and you delivered what the contract and understanding is it's not your fault it's not your fault you did the best you possibly can it's not your fault the patient died you did your best if you were negligent if you were negligent then that's your problem then obviously you have to pay for it you'll get sued and so on the reason why the doctor by the way as a side note the reason why the doctor you know that killed the patient still charges $50,000 or 100 or quarter million dollar for a surgery even though he killed a patient is because he knows he did his best and he also knows that if he was negligent then he's on the line for millions and millions of dollars of lawsuits you say so he knows that at some point someone's going to sue him because at some point he's going to mess up even if he doesn't mess up you're going to get sued at some point the more business you do the more likely you have to get sued especially in America so he's charging a full bill because he knows that if it was the table was returned and he messed up somewhere that patient and that family that grandchild is going to assum for everything he and his descendants will ever have why because that's the way people up it's a killer be killed mentality so again if you're doing business honestly with Integrity according to the Tora you should have no problem charging a full price and perhaps even a premium if you could actually deliver what you say you can deliver the problem that I find with people is not that they uh uh charge too much or that they charge too little to find the problem that I find with people and I've dealt with thousands of people in business over the years is that they can't even deliver what they promise the overwhelming majority of people are liars by default they're simply just conmen people simply cannot even deliver what they promise forget about the over promising no no they they tell you listen I'm going to sell you this paper 10 cents paper I'm going to give you I don't know 100,000 of them okay so I'll pay you $10,000 for this uh this paper delivery comes half the papers are missing what do you mean I paid you for a full paper listen this was what the print was okay but I'm not paying you no what do you mean not paying me that's what happens people simply cannot even deliver what they say if you deliver what you say in this world you're already worth a premium you're already worth a premium if you do a good job I'll hire you I don't even know what you do I'll hire you I'll pay for it I'll buy it just because it's the right thing that's how hard it is to find people that are honest in the world today people think that dishonesty is the only way to get ahead in the world and that's become the standard so if you're doing business honestly charge your price just make sure you're more concerned about delivering what you promised than you are about price price is not significant according to the tah you could charge whatever you want to charge again as long as it's worth it you can't like uh you know tell sell this thing and uh you know he can buy it on the internet for 5 cents you tell them no it's worth $5,000 it's not all low that's not that's not honest but if your if your business is worth something especially service business it's not a problem for you to make a movie no problem [Music] [Applause] [Music] [Applause] [Music] sh for foree [Music] [Applause] a [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music]