And what do you do exactly?
You build homes.
I'm in the fitness and health and wellness.
I'm the co-founder of LinkedIn.
What's been the most amount of money that you've ever made in a single year?
Last year was my first full year. We did 5.5 million between all of the companies.
Last year I did $16 billion in revenue.
What's the greatest lesson you learned about entrepreneurship you'd pass on to someone about to start their first business?
Stop listening to everybody else, man.
I think, look, the most important thing in life is about taking shots. It really is.
Life is a team sport, not an individual sport. Pick your team.
Number one.
Excuse me, sir. Question for you. Have you ever been broke before?
Yeah, for sure.
What industry did you pursue a career in?
And what do you do exactly?
How long have you been a business owner for?
Over those 23 years, what's the greatest lesson you learned about entrepreneurship you'd pass on to someone about to start their first business?
Take risks. What's the importance of taking risks at an early age?
What's the importance of taking risks at an early age?
Nothing ventured, nothing gained.
I love that. Two last ones for you. What's the best financial advice that you received throughout your career?
Doubles and singles only.
What does that mean? Break that down.
Don't go for the home run. Go for the double. Go for the single. You're good.
Well, I guess over those 23 years in terms of revenue, what was the most amount of money that your business made?
A lot. Would you say like eight figures?
Okay. Seven figures though. Why was real estate your vehicle?
I was a real estate lawyer for 20 years.
So, you were a lawyer. Are you self-made?
Yeah.
So, you don't come from money. For somebody who's maybe in that position, let's say that they're broke, they're starting out, coming out of school. What's an actionable step they can take to get really serious about becoming financially free?
Work hard and do well in your school, but you can work hard and work at McDonald's.
Yeah.
Any job is a good job.
What did you see in the business world that made you stand out?
Everyone you do business with, you can learn something from. Just try to learn something from everybody.
That's it. All right.
I love that. Thank you so much for your time, sir. Really appreciate it. What's your name?
Michael Shore. Great to meet you, sir. Have a great day.
Number two.
All right, you guys. My guy just pulled up in a Lamborghini out here in Miami, Florida. I'm going to go up and see what he was able to do to be able to afford a Lamborghini. Let's see what he has to say.
Excuse me, sir. Quick question for you, man. Is this your Lamborghini?
And what do you do for a living to be able to afford a Lamborghini out here in Miami, Florida?
I mean, I'm an entrepreneur. I own a few different companies, but my main company is a marketing agency, which kind of feeds all of the other companies like an ecosystem that I have.
Yeah. And I guess like how long have you been a business owner for?
Over these last two years, what's been the most amount of money that you've ever made in a single year?
Last year was my first full year. We did 5.5 million between all of the companies, but 2.4 million net, which is what I truly cared about. And this year, we're trying to absolutely double that.
That's incredible, man. Have you ever been broke before?
I've been broke a few times, man. I had a clothing store and a barber shop when I was 18 with a business partner of mine. He was selling drugs, went into depression, lost my clothing store, lost my barber shop, had to start over selling phones out of a kiosk for Sprint. Started investing in real estate, bought the nicest houses in the nicest neighborhoods, made them look the best. Lost a lot of money in real estate. So then I had to start all over. And that's ended up what got me into insurance because I figured out that it was an unlimited earning potential vehicle.
As a multiple seven-figure entrepreneur, what's been the best financial advice that you ever received throughout your lifetime?
Best advice I got was from a billionaire and I wasn't even able to get a conversation with him until I started putting up some real numbers and I was on his private jet and he looked at me. He said, 'Eric, you know, I've heard a lot about your life. You got a sad story and now people care about it because you actually have success. But what you need to understand is anything and everything that happens to you might not be your fault, but it is your problem. And eventually you have to solve that problem or you're going to continue being broke the rest of your life. So as soon as you understand that it is your responsibility and you have a mirror every day you look at when you get up in the morning, you're brushing your teeth, that's your accountability mirror. You need to speak to yourself and you need to speak life into yourself because your belief system also matters. If you don't believe you're going to be worth eight figures, you're never going to touch eight figures.'
If you were to go back two years ago when you were first starting your business, what's the number one thing that you would have told yourself?
Stop listening to everybody else, man. And I, you know, I started getting everybody's opinion on what I should do, how I should build my business, but nobody had a dream as big as mine. And nobody was truly trying to create what I was creating. So, I started listening to my gut. Man, gut intelligence is so important, guys. If you do not listen to your gut, and you start listening to everybody's opinions, you're going to end up like everybody. So, I promise you, please listen to your own gut.
And what's the most common mistake that people make that keeps them broke in today's world?
Money management and time management. Once they're an entrepreneur, they think they don't have to come to work. They think, 'Oh, 8 a.m. No, I'm self-employed. I'm a business owner. I don't need to come in and work at 8 a.m.' Not realizing 8 a.m. is when you can legally start prospecting and nothing else matters. You can be the most talented sales individual in the world, but if you do not prospect and you do not establish relationships, you will never be able to use your actual talents in terms of selling, especially as an entrepreneur.
Number three.
Hey dude, how about this guy right here? Are we going to get him real quick? Should we try him?
That's my dad. You should.
For real? All right, come on. Let's go. Let's get it. Hey, if he doesn't want to do it, you got to get him to do it.
Hey sir, how did you get rich?
Oh man, not rich, man. What kind of business are you in?
I'm in the fitness and health and wellness.
All right, man. Good to meet you.
Can I interview you for a minute real quick?
Good. So, are you a business owner?
Well, how long have you been an entrepreneur?
I've been an entrepreneur since I was 18 years old.
As a smooth talker. Come on. Let's see the biceps.
They're there, but I'm not there yet, though. Come on. It's safe to say though, money stays in shape.
It definitely does. It does. It does. But you know what though, health is wealth. It really is.
Do you think a lot of entrepreneurs neglect their health?
I think, look, the most important thing in life is about taking shots. It really is.
My whole career. And the most important thing is you have to have a partner who's with you all the way. And my wife has stood with me since the day we got married. And that's the most important thing.
When you first met her, when you were dating her early on, how did you know that that was your life partner? What did you see?
You just know, man. You know what? You just know. You really do. It's like the first house I bought. You walk in and you go, 'This is my house.' I've lived my life on emotion and you never look back because as an entrepreneur, you win a bunch, you lose a bunch, and I've been blessed to win a little bit more than I've lost. But the most important thing is at the end of the day, you don't want to wake up when you're 60 or 70 or 80 years old and look in the mirror and say, you know, at 20 I had this idea. At 30, I had an idea. And you didn't do it. Because that's the kind of stuff that makes you crazy. I always say that the most valuable piece of real estate is in graveyards because there's billion-dollar ideas in the ground of people that never took action.
One last thing. No is halfway to yes. God bless.
I need a couple more with you real quick. What was the most amount of money you made in a year?
Like I sold a television network to News Corp for a lot of money called Fit TV.
Give me a range. How much was it?
Put it this way. A whole lot more than my allowance was when I was 12 years old.
More than 100. So real quick, real quick. Did you come from a rich family?
Listen, Matt. I came from a really awesome middle-class family. I was born in Brooklyn, raised in Baldwin, Long Island, and I've been very blessed to be able to pass it on now to teach my kids. I have four kids, and it's Father's Day, I'm going to go back and hang out with my wife and my kids.
Your son's right here. Let me ask you this. You're 67. Let's say me and you die tomorrow. But you could leave one more guiding principle to your son to become successful like yourself and become the best version of himself. What's that last guiding principle you would give to your son?
