This episode of Success Fundamentals features your hosts Kris Sykes and Brian Goldsack as they discuss the goals of the show and what it truly means to be successful. From the many interviews they've conducted, it's clear that there are many definitions of success.
But one common denominator among the most successful people is their passion for what they do. However, success also has a relative component to it. How you define success is different from the person next to you.
Kris and Brian share their wisdom on becoming an entrepreneur and how intentions are just one piece of the puzzle. Handling money, making it, and growing it require skills that must be learned and honed to achieve success, monetary or otherwise.
They also discuss generational wealth and the polarizing and contradictory nature of it. On one hand, being handed everything with no accountability creates lazy people.
But a common desire of successful people is to ensure their children will not have to go through the same hardships they went through. The solution to this is education on how to grow wealth and a focus on its humanitarian component.
05:19 To be successful you must be passionate about what you're doing
11:49 Your success is defined by you
20:58 If you have money but dependent on someone else, that's not success
23:30 Before jumping all-in in a venture, ensure you have the skills to survive it
29:38 Taking a pay cut to pursue passions: A question happiness and priorities
37:00 Generational wealth: What lessons do you teach to sustain the wealth?
47:21 Inheriting a successful business potentially creates lazy leaders
57:18 Find clarity on generational wealth and being unselfish
21:39 "Success, to me, is exactly that, doing what you want to do and sustaining your lifestyle by doing it. Regardless of what that is. Social work. I'm not saying that same person wants to play the (video) game all day and eat all day. No, that's not success because you're dependent on somebody."
28:52 "In your early twenties, you can afford to lose everything to start because you have enough of a runway. As you get older, it becomes more difficult to go balls to the wall especially if you have spouses, if you have children, you have obligations financially."
44:36 "You have to have people intelligence for that, management intelligence for that, because you're never going to gain the respect of the people who actually do the work if you're in a high rise, if you come at them as if you know more than they do."
1:00:35 "If you want to have generational wealth for many generations and you're actually successful at it... I do think that you should have a humanitarian component tied into the philosophy of your family."
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