The $100,000 Business Lesson.
A few days ago I got a international phone call from a gentleman based in the Western part of the world with a $100,000 USD business proposal. Without getting into the details — the deal mind you was pretty tempting offer and too good to be true. At first I was curious & intrigued so I spoke to him on my phone for nearly 2 hours 40 minutes and then finally when I realized what was happening, I let him know that we could continue having a 5 hour or even 24 hour conversation and it would benefit no one. So best, — to go ahead and proceed with whatever he had in mind taking one-step at time and keeping me updated on the progress. And with that I continued with my life.
The next day to my surprise, he called me once again. This time to chat up some more and exchange a few more ideas. I listened to him for sometime and then in and around the 30 minute mark cut him off to let him know I was busy and that if he had anything worthwhile — he could send me an email or a message.
He said goodbye and that was it.
One day three once again he got in touch with me! This time once again he went on a chatty spree with his vague and speculative nonsense to which I abruptly cut him off and asked him “What exactly do you want?”
It must have been my tone or the way I said it that made him understand I was all business, to which he responded “Loy, you are like a Brother to me my man. I feel a sense of connection between your life and mine. Your pain and what you went through…blah blah blah blah blah…” — Once again, I cut him off and asked him “Stop. None of whatever you are saying is making sense. So once again — What do you want and how can I help you?”
To which he responded stating “I consider you like my family. Just wanted to brain storm on ideas how we can make each others brand global. So I wanted to pick your brains.”
Immediately, I let him know a couple of things:
The Loy Machedo Rules & Regulations
- My time is VERY fucking important. I charge USD $150 per hour for my time. So if he wanted to chat with me — he could book a time in advance where I would give him 60 minutes of my time where he could ‘pick-my-brains’ and chat with me.
- He was not my family or my friend. Neither was I his family and his friend. This is all nonsense. We were just 2 people who bumped into each other online. I didn’t know him. Neither did he know me. So I didn’t want to be identified as his friend or family.
- I wasn’t at all interested in having and keeping friends or family who provided me ZERO financial benefits. All this sweet talk and sugar coated encouragement he could have it with someone else
- Given that my enemies would never pay me, it was only my friends and well-wishers who would — so that is why if he considered me his ‘friend’ — he better not call me again without paying me. Or else he was an enemy disguised as a friend to use me.
- Asking me ideas or chewing my brains or taking my time was using me. And I didn’t appreciate being used for FREE.
Once I made it clear to him, he stopped calling me totally.
HOW MY MIND WORKS!
Here’s what what my experience has taught me.
You can be a billionaire, a celebrity, a superstar, the richest person on this planet, the most powerful person on the face of the earth or a legend.
So how would you being great or mighty or rich or famous benefit me? You being rich is good for you.
You being famous is good for you.
No one who is ultra-rich and ultra-famous would get in touch with me without a hidden agenda!
And what the fuck am I supposed to do if you or anyone is rich, famous or influential? Are you going to give me some benefit RIGHT NOW? And if you are going to give me a benefit — is it because you are feeling charitable? or is it because you want something in return? or it is because you go around doing random acts of kindness to random people?
What is the hidden agenda specifically?
And if there is none — does it mean you are jobless
For me, living and life comes down to a simple equation of give & take.
You want something — ask for it.
But be willing to pay the price for it.
If you are looking at a Free Lunch — well, either find out who gives this service or go ask some else who does. Because where I am concerned — I do not give, neither do I entertain free lunches.
In my world — it all comes down to money.
Because in my world money talks.
That’s it.
And anything else is nothing but a waste of time.
Yes, there are time when its nice to slow down and smell the roses.
But in a day and age where everything costs money & where even your Father expects something out of you — well, I am all in it for the big bucks. Because with this — I can look after myself, my family and my future.
So the next time someone calls you for to ‘pick your brains’ or ‘lets have a cup of coffee and get to know each other’ — remember to value & respect your time, your expertise & your experience. Because if you don’t — no one else will.
Your Time is Your Money my friend.
Learn to respect it.
Then and only then you will make money.
So what happened to that $100,000 business deal
Given that my USD $150 per hour proved to be too expensive for him, he stopped being in touch with me. And that in turn told me very clearly that if he found USD $150 too expensive to give me, why in the world would be share his precious $100,000 fortune?
Common sense right?
So now do you understand why I charge people for my time, my money & my expertise? It helps me weed out fraudsters & freeloaders like these.
I know what would have happened.
He would have wasted hours, days and months of my time taking all my experience & expertise for free on the fake pretext of a speculative future, fake promises & outlandish claims. This is what most manipulators & conmen do. And trust me when I say this — there are tons of them around. And these predators are very active & alert where it comes to taking others for a ride.
Like they say — Been there, experienced that.
So the next time someone wants your time, your expertise & your opinion on something — try charging them for it. You will come to know how much they truly value themselves and you.
