Ep 203: How To Not Fail At Making Money Online with Jaryd Krause

Jaryd Krause (0:00)

Why do you think most people fail? To make money online? Is it FOMO? Is that shiny object syndrome? Or is it more complex as a combination of both and more complex? And what do we need to do to set ourselves up to actually win and make money online through buying a business or any type of investment? Hi, I'm Jaryd Krause. I'm the host of the Buying Online Businesses today. But today, I've got a co-host William Griffin, Griffin is somebody that I've been working with his border businesses as a success story from one of our board members.

He's a graduate, he's bought a business and is helping us scale it; he's also started another business that he's super passionate about that we're growing as well. And in this podcast episode, William interviews me, there's some fascinating questions that William has, for me, we go and talk about what a good website actually looks like what a good content site looks like, in terms of its risk in terms of its growth opportunities, what a good website should have, that you should be looking at purchasing. We go through things like the domain rating, we go through single source dependency, we go through monetization; and we go through spreading risk. We also talk about how to determine those risks and how you should decide whether you should take them on or not. And here's the kicker, everybody's totally different with their different risk tolerances, which I explain.

And then when you ask me, How did actually how did this whole business and this podcast and everything started, like how did Buying Online Businesses start, I'd share the actual origin story of how this started with me travelling and a lot of people asking for my help through but you know, from buying a business, we always talk about what actually stops people from getting into the point where they're buying an online business, then we talk about my role models, who I look up to some anti-goals, some parts of people that I do like passive people that I don't like and what I choose to keep and choose to not keep and how I lean more into who I am as a person and become better at being me with using some of the other modalities that other people that I look up to actually use.

We also talk about one of my favorite success stories, some of which are vanity metrics, but the more valuable one is one that just hits home for me, and I'm sure you'll feel that when I talk about it as well. And then the last sort of thing I talk about is when someone asks me what advice I would give my 18-year-old self, which is kind of funny. I hope this is a valuable episode. I really do. So let me know if you think it is worth the time; email in any questions that you have that William could ask me. But let's dive in. I'm going to hand the microphone over to William and let's have a chat.

William Griffin (2:42)

Jaryd Krause, how are you doing?

Jaryd Krause (2:44)

I'm really good, William, how you doing?

William Griffin (2:46)

Good, man. I'm excited to do this podcast and co-host it with you. Is that what we say? Yeah, I'm excited. it's fun. I'm enjoying this, like, we've got to keep doing it. And I think we should have people email in and let us know if they think this is valuable. So we can do more or cover more topics. Maybe they can even hit up some questions, like, send some questions in.

I like that idea. If people were emailing questions, that would be very fun to ask you. Questions that maybe I'll even never see. That'll be kind of cool. But luckily today, I've prepared questions beforehand. We're not leaving it up to our audience. Let's get straight into it. I wanted to ask him to pick your brain. What does a quality website look like to Jaryd Krause?

Jaryd Krause (3:30)

So what type? Are we talking? What type of business model?

William Griffin (3:34)

I'll qualify it? What is quality? I can almost say what a quality business looks like to Jaryd? Or what does a quality website business look like to Jaryd, say for content? Let's pick specifically content dots. Jaryd Krause (3:46)

Quality is determined by my definition is by is determined by the minimal risk. I think we talked about it before. There's infinite opportunity. I think we mentioned in the last podcast that there's always infinite opportunity everywhere. So why not? A business has minimal risks. That's what infinite opportunity versus somebody that's got more risks with infinite opportunity. So to me a quality site, the foundation, the baseline, I guess, is minimal risk.

And what that looks like for a content site is that there is no single source dependency on most of the traffic coming to one page, no single source dependency on just one affiliate ad network. I'm okay with a single source dependency on one ad network. For example, if it's Zoic and something happens to the site and we can't do it, we can go back to AdSense or we can go to Media Vine or Ad Thrive, which are multiple ad networks, and changing it over isn't too much of a risk. Sometimes there may be a variation in earnings per thousand monthly views, or RPM, or whatever you want to call it. That single source dependency is not too bad. I don't like to see too much traffic coming heavily from Pinterest or social media. Pinterest is a search engine, but social media and Pinterest traffic can be a lot more fickle. The intent of the traffic isn't as high as, say, when people go into Google and search for keywords and search for information.

So like a lot of the traffic coming from Google organic traffic, not too much like or a heavy load on traffic from Pinterest and social media, I'm talking like 40%. Plus, there are some risks to bear with that. Knowing, like, personal brand dependency, if there's a good logical way that we can remove personal brand dependency, that's good, but I prefer not having too much personal brand dependency, I'm looking at backlinks, there's a lot there; as you can see, I could just go on and on and on and on. But the main ones are what are the opportunities with EAT? Does it have EAT or not? What would it take to build EA T? That's not too much of a hurdle, and it can still be a decent site.

Backlinks, does it need a lot of work with the backlinks? More often than not, I find Google allows a pretty linear search with a low of non-quality links on science. But what's the DR of the site, like the authority, which helps us understand what the scalability of the site is in terms of how many keywords it can rank for moving forward, or like a Dr. that's semi decent, but not to maxing out so there's still room for growth? And the main thing, is this the single source dependency.

William Griffin (6:22)

Or the risk we cannot get away from, if you have.

Jaryd Krause (6:25)

I mean, that's right luck; you can eventually, but just as risks are all opportunities in disguise. But how much of it is too much of a risk? Because you can take on a risk, but you still need a plan to either minimize it or remove it. And if that plan, doesn't inspire confidence in you because you don't have experience in removing or de risking that type of risk within the business or a content site. And you don't have confidence in yourself that that risk may actually be too much of a risk for somebody to take on unless they're really committed to learning and giving themselves a bit more time to decrease or remove it. Okay, so you've touched on risk. So something I see is that people say, "Oh, there are risks with this business. I'm moving on.

William Griffin (7:06)

Can you talk to us about how you view risk when it comes to a business and whether you should walk away or whether it's an acceptable risk? Jaryd Krause (7:10)

How I view it is like what I mentioned before is like, everything has risks, right? Like if I want to cross the road to get to the beach, there's a danger in that. But the reward is going to be quite high. And I know how to walk, and I know how to wait for gaps in traffic and get across the road; I'm pretty confident getting across a very busy road, right? I do it quite regularly. So no, it's funny, but you can relate this to science. For example, risk tolerance is like, Okay, we've got a site that has no EAT, but it's got to have a heavy load on affiliate content or affiliate revenue. For somebody who has never built an EAT for an affiliate site, they don't have that much confidence. So the risk may be a bit higher, right. So you've got the level of risk being higher for one individual and lesser for another individual. And then you also have another factor, which is that person's individual risk tolerance. See, for example, how I love cliff jumping, right?

I take risks by diving off cliffs at huge heights—90 meters into water, all around different places in the world. I love it. But there are other people who just wouldn't take on that risk right there. So I'm too worried about it, it's too much for them personally investing, and I don't like to take on too much risk because I believe in minimal risk and infinite opportunity. But some people are like, "Well, this site needs a lot of work; it's got a lot of risk, but I'm prepared to learn a lot and go for it. So how I value risk will be very different from how another individual values risk. That's a beautiful thing because everybody's different, and there's no right or wrong. And that's how I look at it with those variables, you can have your own personal risk tolerance here. And then that will determine your confidence in you being able to reduce or minimize that risk with the resources that you have. It could take time and money and commitment to get past those results, minimize them, or reduce them. So everybody's different.

William Griffin (9:19)

A risk for So and So, who just never bought a website, is different than the risk for Jaryd. That's interesting. It's based on your skill level, or almost on your experience.

Jaryd Krause (9:31)

Exactly. And I find that beginners will take more risks than experienced investors. Your eyes like to line up and be like that, and I kind of like that. The reason I like it is because I was there, and if I didn't take the bigger risks and my risk tolerance wasn't so low. If my risk barrier was so small, I could just jump over it like it was when I first started, and I would have never bought an online business. And I would never have bought something with minimal risks or with a lot of risks and turned it around. Because the ambition for beginners is a lot higher. And I like that it's like, it's like kids that go to the skate park, they bounce, right? They're going to drop into it like a 1215-foot ball, or they're going to jump in on their BMX bike. I've been to the skate park with young kids that are like, seven, and doing flips and things. And I'm like, "There’s no way that I would even try that because I don't want to break a bone.

But for them, they're like, "What's there to lose? Like, another beautiful thing about investing is beginners go for it. In comparison to me, it appears to be more about preserving wealth growth versus preservation.

William Griffin (10:41)

Good point. Different times call for different appetites. Okay. So, okay, we just talked about risk and where I want us to go, is the idea of oh, these fun? Here's my question. These fun people over here are doing stuff for me, the business buyer, and I have a fear of missing out. Can you talk to us about fear of missing out talk? And what is it? What is the potential problem with fear of missing out?

Jaryd Krause (10:51)

So what do you mean by that, like, fear of missing out on what, and you said, "There are these people over here that are doing this? And I've got the fear of, like, people. Do you mean, when people are worried that they're not going to be able to buy a business or what's.

William Griffin (11:30)

Here's what I'm getting at. So you are very, you do this very specific job? You, Jaryd. So when you Jaryd hear about other people doing other stuff that's unrelated? How do you handle the fear of missing out? Or how do you? How do you keep yourself from doing things just because of the fear of missing out? You know.

Jaryd Krause (11:52)

I like it. So for example, if I'm an online business investor, and like Buying Online Businesses, and then crypto in two years’ time when the markets are not so bad, it just goes up and it just starts going off. And I like seeing the results of other people. And I'm just like getting edgy about it and going like, Oh, damn, maybe I've done the wrong thing," so I like to revert back to a few core philosophies and principles that I hold close to myself and like to use, and that is that the best returns, I believe, come from being in the space for a long period of time because then your knowledge compounds, which means when your knowledge compounds you can get better returns from it. There's this thing about shiny object syndrome being real, right? Shiny Object Syndrome is very closely tied to FOMO.

I understand the fear of missing out, and I also understand that there are so many variables that's have happened for an investor or somebody that's posted something on social media for them in order to get a result. For example, there was a guy that I went to school with, and he probably spent a lot of money on gambling, but there's just one big race in Australia for a horse racing race. And I think he put like 120 bucks down and got like, 100 or 200 dollars, right? People go, my God; I need to start gambling. Well, no, you don't know about the situation. This person might have spent $250 in gambling prior to getting this big win, and his stress levels may be up and down.

So I think this is a scary thing. Sometimes people like to come on social media for a lot of stuff like life comparisons, like how can you go, I think it's impossible for people to go on social media and not compare their lives to others, which is why I just dislike going on social media, and have so many barriers to prevent me from even going on Instagram, Facebook, or anything like that. Because then what can happen is that fear gets instilled because you can pay with your life, and then you look at shiny object syndromes. And that takes you away from your main goal.

And the best, I believe, is to stay focused. Right where your energy goes, where your focus goes, energy flows, and the more energy you put into one thing, rather than like multiple different things, the better results you're going to get from that one thing and staying in your lane, what I find is that people go watch our case studies, right of like all the people that get great results, making 1000s of thousands after a couple of months, and they bought a business. And they come in with the expectation that "I need to buy a business within three months. And if they get to the four-month range, and they're like I'm a failure, because they compare themselves to somebody else.

So what they do is they go away and start thinking about or should I buy a Starter Site? Should I go and hire somebody to create me a Starter Site? Should I go and try this other investment model like their main goal is like passive income and financial freedom and choice and having an abundance of choice and when they don't get a result, because they choose a short timeframe, they feel like a failure. And then they switch gears and they do that again in the next thing. So maybe they try crypto and they do that and they go, Oh, they do that for five, six months and don't make much money. And they end up wasting their time. And then they go around to day trading on forex, and then they try it, I'm going to try invest in property and they can't find a property for six months or 12 months or can't get finance, everything they do they try is too hard. And the only reason it's too hard is because they have a shiny object syndrome. And they also give themselves a short period of time to achieve a goal. Whereas if you said I'm going to be the one of the like, greatest crypto investors, if you gave yourself a 30 to 40-year chunk, I'm sure you're going to have a lot more confidence in doing it. Right.

Rather than I'm just going to try and see how this goes. You shouldn't either believe that trying things is just disgusting. If you want to set yourself up for success, go for it and then stick with it. And that fear of missing out is like, accept it. Like, you're going to miss out on some big wins in crypto. Fine. I do. I missed out on some big wins in property, forex gold thing is you can't like you can try invest in everything. But you got to be a jack of all trades, you're not going to be an expert in one. That's where that's why I like to say is like except like, yeah, you're going to miss out on some things.

William Griffin (16:24)

And so be it. That’s so true. It's true. If you focus on something, I think you told me this a few weeks ago, like William said, if you work on something, it'll probably get better. If you work on it over a period of time, it will probably get better. Exactly. It's like it struck me as so novel; I was like, "This isn't working like, well, you're like, well, I'll just keep working on it.

Jaryd Krause (16:50)

We like human beings; it's like how we like funny creatures, right? We have so much room for error, And we just want the path of least resistance the whole time, which is why I always recommend people to, like, push the obstacles away when it's getting hard to lean on the obstacle, work out why, and go, Oh, cool. I've just cleared the path. For more growth on this one path that I'm already on, I don't need to go to the shiny object syndrome" or "shiny objects, chase those things, and then have the fear of missing out, because I know that if I stick with this one thing for five years, 10 years, I'm going to get results. And this is what I like to tell people is like if you're going to buy a business, give it a crack for at least five years before you go, I can't buy an online business. Right? Most often than not, when people buy their first online business, it's absolutely life changing. Because I've just opened up a gateway, it's more life changing than doing a university degree, usually, and a university degree takes four years, sometimes five years. And it will cost you tens of thousands of dollars to study to buy an online business, which is a fraction of that.

And it can take you less time. But if you give yourself the same amount of time, your life can be more the result can be more life changing in a four-year period, doing that than studying in college. People just don't give themselves enough time. More time and some time. Wow. It's really just good character over a period of time. It's what it sounds like. I mean, it's Yeah, yeah, I believe like, so many people focus on success being a certain metric, or a certain like uptrend in a chart of investing or, that's not success. I believe success is like you having good foundational principles that support your life in any direction that you go.

William Griffin (18:44)

I love that internal. So I wanted to ask you, What do you see keeping people from investing in online businesses? So for example, someone who doesn't even know that there are businesses for sale online. So how does someone who's there get there? What do you see that's blocking them from making the choice or deciding to begin looking for an online business to buy? Where's the link? What's the obstacle?

Jaryd Krause (19:11)

The biggest blockage is not knowing that you can buy an online business. I think most people who want to make an income online go cool. I need to I need to make an income online. What do you think of when you need to make money, like, if you just say, I need to make an income online? What's your first like, go to thought of what you need to do to set up an ecom brand or ecom store? Yeah. You need to start a business, right? Anyone who makes money online has started a business. No, that's not true. So many people buy them, but I mean, and I look, hey, I'm the human being here that failed at this too. I thought if I want to make money online on how to start an online business, I tried it started a couple I sucked at it. I failed multiple times. I bought one, and it went well, and it kept getting. I did it a second time. Well, the third time went well. I was like, "Okay, that's not the only thing."

I think the biggest blockage is people just don't know, that they can go and buy something that's already built and already making an income past that 90% failure rate. That's probably the biggest blockage that stops people from buying a business is because they just don't know it exists. Maybe also that if they do not exist, they have the perception of like, I need a couple of hundred thousand dollars to buy a business. That could be a secondary prevention, like, preventative, I guess that yeah, they don't, they might not have enough money, whereas you can get financing now these days, and it's a lot easier than it was just five years ago. And also you can buy a business that's like 2030 grand.

William Griffin (20:42)

Which is crazy, right? I mean, I tell people that pretty often throughout the week, and it blows their heads. I told my barber that the other day, and it blew his head. And he really is. And in general, if I tell people that very often, that would never work. And it's usually What do you mean, it would never work? It's already working. I know, that's going to get us off track. But someone was like that wouldn't. I told him what I do, and what BOB does help helping people escape their nine to five, find a great business without too much risk. Like, I explained that, like we help people buy businesses, and they were like that job would never work.

Jaryd Krause (21:26)

It's funny. I was like it's Right.

William Griffin (21:30)

But that's where the opportunity is. Because there's an uneven distribution throughout the population, there's an uneven awareness of pretty much everything. No one knows everything.

Jaryd Krause (21:38)

Nobody knows, like, Well, I think about it. It's like a $20 to $30 grand business. Some people buy a car for more than 2030 grand in total. Yeah, you need a transport. But you don't need like 20 or 30 grand car for transport, it's not absolutely necessary. With the 2030 grand, you could spend 30 grand on a liability, which is a car, right? Every single month, you pour money into it, insurance, maintenance fuel—and if you put $30 grands into a business, that's an asset, it's going to pay you an income. So understanding those philosophies is beneficial in any case. So you see how I like to use the philosophy more than the vehicle because that philosophy is suited to investing in property as well. You could spend $30k on a car, or you could spend $30k on a deposit for a property, or you could do the same with crypto put $30k into crypto, leave it for 10 years. I'm sure it's going to be okay. I'm not a crypto expert. But or put it in ETFs. I'm sure it's going to be okay. You're going to make it. It's going to set you up way better than just buying a $30k car. Maybe you could buy a $10,000 car and put $20,000 into ETS. And you've still got the motor transport, so you win at both.

William Griffin (22:55)

I love that. But my ego requires that I have a $100,000 car, Jaryd.

Jaryd Krause (23:01)

If you let your ego win, then that's.

William Griffin (23:07)

Ego is the Enemy, right? Ego is the enemy. It is well that's for our viewers or listeners. That's a shameless plug for Ryan holidays. Other book, he wrote the ego, or Ego is the Enemy and obstacles away. But neither here nor there. Okay, so you did this thing successfully for yourself—you set it up, or you purchased and grew it? A couple businesses. You did that? Well, how did it begin to be that you began helping other people do the very same thing of buying a business and growing the business? How did that unfold?

Jaryd Krause (25:00)

It's not my event. It's not my stage, I can't do that. But I quickly found out that there was a big need for this. And as I learned from that trip after Thailand, I spent about a year and a half traveling, just surfing around Central and South America. And a lot of people were also like, Dude, you need to teach me how to travel like this. And from that, I was like, "Wow, there's really a need for this. So I thought, "I'm just going to create a course." So I created a course, and I was living in Mexico, I would serve in the morning, come back, finish the course, then go for another surf. And then I wanted to launch this, and I wanted to do it really well. So I basically got about 10 friends that I've met from traveling who wanted to go, were interested in this, and a couple went back home. And I gave it to them.

And I presented it to them, right, I actually went through the course with them live together, hand in hand, couple of people got close to buying a business, but nobody bought a business. And I gave it away to them for free. And then when I came home, I was like, I'm going to have a good crack at this, I'm actually going to sell this thing. When people paid money for it, they actually became accountable, that they actually wanted to get a result for actually, a return for putting their money into it. And that's when people started buying businesses. And it just, it just went off.

William Griffin (26:13)

That's crazy. So with pretty much the same material. The difference was some people bought the material, and they did better than the people who did not buy the material.

Jaryd Krause (26:22)

100%. Think of it this way. If I give you a book, William, and I say, "Mate, if you read this book, it's absolutely life changing. I can guarantee you'll have a 10 times better life in all areas of your life financially, health wise, physically— in 10 years’ time, you'll be 10x Read this book, so valuable. I give that book to you for free. If I said, William, I've got this book, and you may or may not read the book that I gave you for free, you might right read like the first chapter or whatever it is. And then you may actually be like, ah, and how is this even possible, like 10 acts in all areas of my life, like from one book, may not believe in it, then I say, William, I've got this book, because 1500 bucks is the best investment you'll ever make.

It will tax you in all areas of your life, you must buy this book, and you must read it and read it three or four times. And I can guarantee you will you'll it'll 10x your life for you buy that book 1500 bucks, your bloody read in that book. And not only do you read that book, but you have so much more conviction that that book is going to get your result because you paid for it. And you paid a lot for it. What book is 1500 bucks? Not many, but a free book, not much value; you just don't perceive it as having much value. So there's the perception there as well. And that's why taking some courses and paying a decent amount of money is actually worth it because it holds you accountable.

William Griffin (27:49)

I agree with that. I mean that having skin in the game makes people perform better. So we've just talked about having skin in the game in terms of perceptions of value, which you pretty much just touched on. I wanted to ask Who do you Jaryd look up to as a model someone to emulate either live or written? that's good.

Jaryd Krause (28:11)

I don't really locket somebody because I don't really follow people, right? Like, I don't really do the social media thing and follow influences. But there are some people who have been quite influential to me. And it's not just all of them. I think it can be dangerous to have one person that you follow. I need to be that person. And then you miss out on things like this, the specialness of, like, the magic of who you are, doing it your way, and creating your own life. So I actually take parts from a bunch of different people. I don't look up too many billionaires. Why? Because billionaires, they have like, they work a lot, right? And they sacrifice so much. They can't just go surfing when they could. They could just go surfing whenever they want. But their goal is something like big wealth. And I think that then it's not something that I value. I value being very wealthy.

It's great. I love money, but I value time and spending time doing things I love with the people I love, and I think building that's where I took parts from billionaires mindsets around building wealth and building businesses, which is great, like Keith Cunningham. I don't know if most people would know who Rich Dad Poor Dad is. But most people don't know who Keith Cunningham is. Keith Cunningham is Rich Dad Poor dad's Rich Dad. Robert Kiyosaki is Rich Dad, and Keith Cunningham made a lot of money through property investing and business.

Also like Joe Polish, who has a network or mastermind called the Genius Network, where he connects a lot of really well likeminded people. I think that's quite cool. I look up to look up to him a little bit and his business and business model, but also Look up to like Kelly Slater Kelly Slater law. Impact. He's got his own Wave Pool he gets to surf around the world. But what I think is the most valuable thing about Kelly Slater's life is that he's so deeply connected with so many people in the world. And he has great relationships with so many amazing, amazing people. Right?

Like if Kelly Slater wants to go hang out with Kevin Hart, you can go hang out with Kevin Hart, or Arnold Schwarzenegger or whoever he wants, like, he's got some like his really good friends with like Bill Murray. And I think the best thing about Kelly's life that I look up to is like, yeah, he's got wealth, and he's got money in businesses, and he's got an illustrious career. He's like, he's the greatest of all time, in my opinion, in any sport, like he's 50. And he's, and he's like, winning events and competitions, in like one of the hardest, physically demanding sports in the world, like surfing is very physically demanding at 50. It's pretty exceptional. But what I think is more exceptional is just like the love of the relationships that he has, like, that's what I look up to personally.

William Griffin (31:00)

Good. He has good relationships with people to whom he has access, or just good peace with a lot of good people. That's.

Jaryd Krause (31:07)

I love a lot of what Kelly does, but this is just one part of what he went through in his life. When he was really focused on his surfing, he had a daughter, and he didn't really spend much time with her. So he missed out on a fair bit of that, but I think he's playing catch up with that. But he's a human being, he's not perfect as well. So there's one thing that I would be like, maybe if I had a daughter or a son, I would make sure I put that time aside and sacrifice some relationships with a lot of people to have a better relationship with my child. That's if I have a family. But this you can, there's parts that I take from people, I don't just go, I want to be Kelly Slater, or I want to be this billionaire. It's like I like to see and also think about what they do well. And what do I not like about them? Like, how can I prove that part of their life is not for me, so don't slip up into not becoming who I am supposed to be as a person. And my magic and specialty?

William Griffin (32:07)

I like that. I've heard a similar thing with goals and anti-goals. A goal is something you're striving towards. And the anti-goal is like, for example, a rock star's goal is to be a big rock star. But the anti-goal is not to destroy your family and your friends and live the rock star lifestyle and ruin everything. So I love that I know what you're going to write and what you're avoiding.

Jaryd Krause (32:29)

So cool.

William Griffin (32:30)

I want to hear a success story. I want to hear about someone you've helped. How did you help them? What obstacles did they overcome? And then what ended up happening to them? What was the result, something to make me smile?

Jaryd Krause (32:41)

When I first started, I helped people make a lot of money. There are a few that come to mind right away, like their vanity metrics, because I know that stuff's going to sell, like, Phil, who didn't know what an online business was. And he's working in construction, hates it, wants to spend more time with his kids, and he bought a business. And he started making $48,000 a month from the first business he bought, but he didn't know what a business was. But online business existed before those sorts of things came to mind, which is awesome and massively changed his life. But I feel like I really didn't get excited about it when I first started out.

And Phil was one of the top 10 or 20 people who bought a business with my help at that time. As well, I was doing a lot of one on one work with people, and I would help them go through their finances and fix that leaky bucket. Leaky bucket syndrome is something that I talk about in some training that we have in the book community, but I helped them fix a leaky bucket, which is like fixing their finances, where they could save 10 to 20 grand, sometimes 30 grand, a year by just fixing their leaky bucket. And then also, through fixing the leaky bucket, working out how much money went to alcohol or cigarettes.

And then also the mindset training that I like to do myself and live, like my morning routine, and a lot of the mindset stuff that I teach in terms of like, not manifesting, like thinking things are just going to pull off and come into existence, but like vision and alignment that actually get results because there's a lot of things in manifesting that people just don't know about that don't work, so they try to manifest and it doesn't happen. So some of the things that I was teaching and doing were teaching through one to one stuff in the early days. That's, where people, quit smoking stop drinking as much they got promoted in their jobs and started earning more money. They woke up every day feeling like fuck I I love my life. And then also that wearing off on their kids were at the dinner table before they would have dinner the kids will be like, oh, whoa, dad, like before we start watch. What's your gratitude for the day like that stuff is like for me, I'm like, Heck, that's a success? That's a huge success for me.

William Griffin (34:54)

My god, that makes me feel so good inside. Okay, here, okay, here's what I'm talking about and here's why I'm veering off script again. You told me something two weeks ago that's had a huge positive effect on me and will be valuable to other people. Do you want to explain what ITF is and how to implement it? For me in the past week, maybe two weeks, it's helped me get things done, feel good, and have momentum throughout my day. It's been like something that's improved my quality of life in the day. And so please explain to us, ITF.

Jaryd Krause (35:26)

ITF stands for important tasks first, so important tasks. First, a lot of people have a big to do list, and they want to get everything done, I hate big to do lists because they just feel this one thing that causes them to do nothing, which is anxiety. So having a smaller to do list is best. But also when we do have a small to do list, even if it's only four or five things on our to do list, what often happens is that, because we're human beings, and we like the path of least resistance, we do the easier task first. And then we get to the end of the day. And we're like, "Oh, damn, I didn't do the hard task." And that was the most important one. Like, we know, it's the most important one, right? And we didn't do it.

So what happens? And whilst that's not great in terms of productivity, right, so this is really a productivity, fix, the byproduct of it, is feeling better about yourself. So at the end of the day, if you don't get that task done, what you do is roll into the next day, feeling like a failure, And anybody that starts their day feeling like a failure is like, Hey, man, what's the chance you're going to get that task done now, right? Of course, because you already feel like crap about yourself and aren't as productive, you're going to go for the easier tasks again. And then, as that compounds, you can call these green line decisions, or red line decisions, greenlight decisions that compound to make your life better and better and easier and easier. Versus like red blind decisions, like when you don't do the hard task, it makes you feel bad, the byproduct of that is the second and third order consequences. And then the next day, you make another red line decision, compounding the negative or pessimistic decisions in terms of productivity. So what I like to tell people to do is strip the list, even if you just have two things on your list, and they I call it ITF.

So if you put your important tasks first, and you do them first thing in the day, and it doesn't need to be the first thing of the day, like my productivity hours or in the morning, it could be the first time you sit down at your desk or first time you sit down at your computer and do the work in your productivity hours, which could be you know, sometimes for people it's like, 2am, to like 5am, it's everybody's different. But do your ITF do your important tasks verse, get that crossed off? And what does that do? Makes you feel so damn good, because you just ticked off the hardest thing, right? It's like, Yes, I got a good job done. What does that mean? Next, the next one less hard task, you do that, with the energy of confidence. And energy of like, I've got this, I just did the hardest task. Now I'm going to do the next less hard task, and you do that feel better. And then if there's three things on your list, you do the last one, you finished the day and you're like, boom, wake up the next day, and you're ready to rock again. So I think ITF so the most important and, and prevent us from like, prevent us from actually going and just finding the path of least resistance. Like comes back to again, the obstacles away, lean into the hardest task, just get the thing done, and it's going to help.

William Griffin (38:28)

I completely agree.

Jaryd Krause (38:29)

I'm glad that was a game changer in just a week. That's cool.

William Griffin (38:32)

I wanted to tell you about it. Sorry, everybody. I wanted to tell you, Jaryd, a couple of days ago, but I didn't mention it. I wanted to keep things concrete while we were speaking. But I wanted to be like, "Oh, by the way. ITF has massively helped me feel that it has helped me do more, which is great. feel better. And momentum.

Jaryd Krause (38:50)

I love it. Great work. I love it. They share. That was me, please.

William Griffin (38:54)

Well, I'm sure it's very encouraging. So keep sharing that with people. That's why I brought it up. For sure. Thanks. So yeah, thanks. All right, folks. Let's get back to the stuff, which is very good. All right. Let's pretend, Jaryd, that you have a time machine. Okay, if you could go back and give your 18-year-old self-one piece of advice. What would it be? Don't rush.

Jaryd Krause (39:18)

Don't rush, I would say to my younger self, given that you should give yourself more time to achieve goals. It kind of comes back to what I've seen before, which is that if you give yourself five years to buy a business, you're going to do it with less stress, less anxiety, and you're going to enjoy the process a lot more. And because you enjoy the process and have less stress and anxiety around it, you're probably going to get a better result because your thinking and decision making are a lot clearer than when I was younger. I wanted to just like go like I was just a rabbit, like I was just like, just get at it," like take action," and do as many things as I could. One stage.

My parents like Jaryd you're doing too many things. Like you just you can't you just can't do it. I would tell myself that like, find one path, stick to it, give yourself time in the market is better than timing the market. So time in the space is better than trying to work out when's the best time to start something is like just getting started and just do it. And stick with it and give yourself a decade. Give yourself two decades here three decades, like if I'm 18, and I give myself to 38. Just before I'm 40, that's two decades of growth in one area, I'm going to be very good at something and it's going to probably make me a lot of money. Because I've put 20 years to it. So just give myself a break. Give myself more space and more time.

William Griffin (40:45)

Be patient. Give yourself a break. All right, folks. You heard it here. You heard it here. Why sayings from an Australian Yoda? No. Thank you. No, but thanks. Thank you so much, Jaryd, for all of these answers to my annoying questions. And I hope everyone listening got a lot of value out of it. So thank you so much. And I'll speak to you soon, buddy.

Jaryd Krause (41:15)

Thank you. Definitely not annoying, these questions are awesome. And I thoroughly enjoy this. So yeah, and if everybody thinks this is valuable, please, please email us and let us know. And we can get more tailored questions that may be beneficial to them. So thanks for getting me on, William. I love it. It's great.

William Griffin (41:31)

Your welcome. We'll be doing this again. I'm sure I'll badger you and make you do another.