I went from rags to riches, but it wasn't luck.
30 years ago, Glenn Stearns started
with nothing, and built a billion dollar lending company,
one of the largest in the country.
Glenn is betting a million dollars of his own money
that he can take a hundred bucks,
and grow it into a million dollar business in just 90 days.
But I understand that I get treated differently
because I'm wealthy.
So, to keep this experiment fair,
I'm gonna do it all undercover.
I won't use my name, my money, or my connections.
(audience applauds)
That is so cool.
Listen, not everybody gets to be a billionaire,
by just good sound advice, right?
Gonna try, yes. Gonna try, okay.
So we have a little B roll.
If he looks super familiar, you guys all saw him
in audience holding.
One of your tips was kinda how to make a buck,
and he tried to make a buck off some of you guys, right?
(Rachael chuckles)
Oh god, you put my name on it?
Oh lord, oh lord.
Well you know what it is, I tell you what.
In the first tip, has to do with demand, right?
Which is basically, find your audience.
Know who you have that you can sell to.
A lot of times, we have something that we think is great,
but the reality is, no one else thinks--
Thinks it's great.
But go to where people have a demand.
In this case, think about it, right?
You've got this wonderful audience.
You got people here--
And they stood in line to come here,
so why not buy something with--
That's right. My name on it, or something.
I look at you, what you did, right?
You took the thirty minute meal, because you looked out
at the people going, "I want pizza.
"I want something in fast--"
Right, I want pizza delivered in thirty minutes or less,
so you might be willing to spend, that was exactly it!
You might be willing to spend thirty minutes to make dinner.
That's right.
I mean, we made $250 in less than a half an hour.
It's pretty good! We did pretty good.
Although-- Here's your money.
(audience applauds)
Let me be epically clear,
I'm sorry and you are getting your money back.
And, everyone that made those for us
at Personalization Mall, that gifted us those cups
for his experiment, of course sent enough
for the whole class, and you can all have one for free.
There you go.
(audience applauds)
But I tell you also, I think what's important is,
you know, you get out there and you want to start a business
and people go, "I'm lost, how do I get started?"
And there are resources out there all across the country.
There's a great one called The Small Business
Development Center, where people can go in.
I mean, it's paid by our tax dollars.
So you go in, they'll help you with office space,
they'll help you really get your product going.
And it's something we've already prepaid for as a country.
I didn't even know that, that's so crazy.
That's right, I mean, it's out there.
Like a baby business school (chuckles).
Absolutely. Okay, next tip.
Well, next tip has to do with
basically buying low and selling high.
Again, it's about really finding something
that has some margin in it.
What I did was go out and sell cars on the show,
because it's fast and you can go do really well.
People go and they turn in these wonderful cars
into car dealers when they trade them in,
but they might have too many miles.
So what the car dealer will do is he'll usually take those
and he'll send them to an auction.
Well you should go up to that car dealer
and say, "Can I buy that car?"
Or get the license yourself and go to the auction.
I bought one for $700, turned around and sold it
for more than $3500.
Wow.
And that was a Honda.
Then I took the Escalade from that money,
bought that for $1500 and made, I think, $7000 or over that.
So great.
We go in and get it and try to do it.
(crowd applauds)
I mean, it's actually a wonderful idea.
Anybody can do that out there really quickly.
I took all that and bought a house then,
this is part of the show, and flipped that,
turned around, that didn't work out as well as the cars did.
(Rachael laughs heartily)
It's not all fool proof, kids.
Okay, what is this, coincide with another tip?
So actually, my third tip is when you're busy,
when you're out there doing a business,
a lot of people put their calendar items or something.
I always forget about that.
I put in my actual alarms, all my alarms,
and I want to be reminded.
If I'm talking to you, my alarm goes off,
and it says oh, I gotta--
I gotta go do this, right.
And so I keep it going, or else at least I snooze it
and not forget about it.
People get really frustrated with me, but I won't let it go
because I have to do that, you know?
And it really depends on your personality.
If you're someone that at the end of the day,
over and over again, you say to yourself, "I can't believe
"I forgot to do that again," that's so simple.
But it's so pure, and you can just have it on vibrate.
My phone just goes mmmm, like hey, hey.
Nudge, hey. Yeah, exactly.
And at the end of the day,
you really want to get these done.
Love you, baby. Love you too.
So Glenn is amazing, and if you wanna spend more time
with Glenn, you can watch his show,
"Undercover Billionaire."
It's Tuesdays at 10 pm, on one of the coolest channels
on the planet, Discovery.
(crowd applauds)
(logos twinkling)