How To Get Rich: 10 Reasons Why Most Don’t Become Wealthy


– So, this is the Nova Spirit. It’s owned by the richest
man in British Columbia, Jimmy Pattison. I love Jimmy Pattison’s story ’cause he started from scratch. He actually used to own a car dealership. That’s how he got started,
the first business. – I remember that. – Talk about sales people. He was also very well know
for, every single month, he’s going to fire the bottom sales people every single month, right?
– Right. – That’s his well known. So this is a beautiful
boat, and now I’m not a boat person, but every
time I walk by this, I get so inspired. – Yeah, and he started
from absolutely nothing. – Absolutely nothing, right? – This is maybe a 10 to
20 million dollar boat? – Probably 15 million
dollar boat right there. So, maybe something good
that we talk about today. Why do you think people
don’t become wealthy? In spite of their
intention, or they want it, they say they want it,
but what’s the difference? ‘Cause you and I, we both
started from scratch. We weren’t born with a
silver spoon in our mouth. We both built our business
to where it is today. So, what do you think are the top reasons why people don’t become wealthy? – Yeah, let’s dive into it. I think there’s a core mindset between those that are successful versus those that fail, and we both work with so many people now, we’ve seen. – The patterns. – We’ve seen the patterns,
the patterns are obvious. Yeah, let’s sit down and discuss that. – Let’s do that. Grab a seat. So, let’s talk about the top 10 reasons why people don’t become wealthy. – Yeah. – What do you think is the first top one? – I would say a lot of people,
they lack having clarity. They don’t really know what
they want, and why they want it. – Right. – I mean, being wealthy
is so general, right? A lot of people say, I
wanna make more money. Okay, here’s a dollar, that’s more money. But I think a lot of
people gotta get very clear why do they want to become wealthy? What’s the amount for
them that can allow them to live whatever kind
of lifestyle they want? Because I just look at money as a tool that can allow you to
experience more of life, whether you want to travel more, a certain lifestyle,
materialistic possessions. It might be to contribute more, it might be able to grow more yourself, and become more.
– Or to help the family. – Yeah, and I think a lot of people, they don’t have a strong
enough reason why, and really what it comes down to, I think, they don’t want it bad
enough, because it’s possible. I mean, I was reading
the other day, I think there’s 1,300 people every single day that are becoming millionaires. – Yeah. – It’s easier today to become
a millionaire than ever before and I think really what
makes that difference, or at least one of the reasons,
is you gotta want it bad, and I think a lot of people they just don’t want it bad enough. They say they want it,
but they really don’t, it’s like they only want it
if it falls in their lap. They only want it if it’s easy, they only want it if it’s convenient, but you and I both know
in order to create wealth, you have to grow and
improve yourself massively. You have to become more valuable, and you also have to
create value for others. – I agree. I agree, I think most people
don’t get what they want in life because they
don’t know what they want. And it’s not enough to say I want to make more money, like you said. Do you wanna make 5,000 a month? Do you wanna make 10,000,
do you wanna make 20,000? Do you wanna make 50,000,
whatever the amount is. I also believe it’s not just
how much money you make. I talk about this in F.U. Money, right? – Yeah, yeah. – It’s how you make the money, so not all income is created equal. So, you have one person
making 10,000 a month maybe working in a corporate job, that requires them to travel
long hours, six days a week. Another person maybe more
life like an entrepreneur making the same 10,000, but
working only two days a week. – That’s right. – That’s a big difference,
it’s the same 10,000, but if you don’t know what you want, it’s very difficult to reverse engineer. So, I like to think of, okay this is the ideal lifestyle I
want and I talk about it in F.U. Money, right? What’s that F.U. Money target? And how much would that cost you? Not how much roughly. Maybe, no. Let’s calculate that,
and what I realize is, after all these years
talk to so many people, whatever the idea that they have, they say I wanna be able to travel, I wanna be able to have to
drive this particular car or have this particular house
or this kind of lifestyle. When they actually break it down, it doesn’t cost them as
much money as they think. They thought, oh, we ask most people, I need a million dollars,
I need $10 million. Really? – They’re just throwing
random numbers out there. – Yeah, ’cause they set
a number that’s totally unrealistic versus, oh, actually, no, I could accomplish all
I want to accomplish with maybe $300,000 a year. Well, that’s a very different goal than $30 million a year, right? So, I find that to be the case, and like you said, people,
they say they want it, but the actions don’t match with what they say they want, right?
– Yeah, yeah. I think another reason, too, is they might say that they want this, and they have their reasons why, but if they don’t believe
that it’s possible for them, or if they don’t believe
that they can do it, that they can make it happen, then they’re not gonna
take any action to do it, and I think a lot of people,
they’re are presented with opportunities every day. I mean, today, we both have great programs and resources that can help people, that helped us, that’ve
helped other people, as well, and you could put that opportunity in front of someone, but there’s still a lot of barriers that, I
think, a lot of people have to really maximize and utilize it, and I think it comes down to their belief. If they believe that that’s a scam or it’s not gonna work for them, or they think that, well I can’t do this because I’m an immigrant, and
I don’t understand English, or I don’t have the time or money– – Which I am too, by the way.
– Yeah, and there’s plenty of examples of people in those situations that have been able to overcome those. But, the belief is a core thing, because without the belief, your behavior follows the beliefs. A lot of people, they’re too close-minded. They allow their beliefs to
be dictated from their past. That, maybe in the past, they got hurt. They got ripped off.
– Burned. – Whatever it is, I often compare it to relationships, sometimes,
because we’ve all, maybe at times, maybe in high school, we were very open and, in many ways, naive and you fall in love with someone, and then you get your heart broken. But you can’t let that experience of having your heart broken,
you can’t carry that forward with you in other
relationships, ’cause if not, then you’re always gonna be closed off. – They kind of let their past dictate their future, right?
– That’s right, yeah, and I think a lot of people, even if, you just have to have an
open mind at all times. You always have to have that belief that anything’s possible,
that you can do it. You know, what man can
do, another man can do. It’s possible. You have to really believe and own that. – And I think the belief, the self belief, I think it’s more than that. I talked about this at my TedX talk. It’s even more than belief,
I think it’s an identity. – That’s right. That’s who you are.
– It’s who you are. So, it’s very difficult to
create any kind of change if you’re holding on to your old identity. The example I like to give,
it’s like, people who want to quit smoking, right? If my identity is I’m a smoker, it’s always a struggle, right? It’s always, well, I wanna have that puff, I wanna have that cigarette. Versus someone who’s not a smoker, then there’s no temptation. In fact, for guys that we don’t smoke, we can’t stand even through a smoke, I can’t stand the smell. We’re not thinking about, oh, I can’t wait to have a cigarette. So, unless they change the identity, I always joke about it. I was a millionaire in my mind, way before I had the
money in my bank account. Even when I had no money,
I never worried about the gas prices or how much lettuce cost. Those things don’t enter my mind. It just took many years for the reality to catch up. – If you look at some of the most successful people, they all had that– – Identity.
– It’s almost like this identity or belief
that’s somewhat delusional. – It is!
– For example, Muhammad Ali called himself the greatest
before he won anything. – It is delusional.
– He believed that he was a champion, Conner MacGregor, I mean, you look at professional athletes, but they all believed,
and if you study the work of Napoleon Hill, Think and Grow Rich, he talks about having
this boardroom of advisors of these greats in his mind that he would visit every day. I think that kinda segues
into another reason. I look at environment as key. You know, they say that we’re the sum of the people that we spend time with. That, if you wanna look at– – We’re both, like,
very big on environment. Wealth triggers, right? – They’ve said, if you wanna figure out how much money you’re
gonna make, just look at the three closest friends
and that’s how much money you’re gonna make. – I agree. – Who you spend time
with is who you become. If you’re hanging out and spending time with people that are broke and complaining and negative and lazy,
and a lot of people, they might have the desire, I’ve seen this so many times, they are excited, they want to improve their life, but their friends and family are pulling them down because they’re saying,
oh, that’s not gonna work for you, that’s a
scam, or whatever it is. It’s very challenging to
overcome your environment. It’s very challenging. – I think it’s the buckets
of crab story, right, where you have buckets of crab, when one crab tries to get out of the box, the other crabs will pull the crab down, it’s exactly like that. That’s why everything I do, right now, I’m at a point where,
as you’ve also seen me, you know, we’re working
together, that I have grown over the years, then
going to the next level. The first thing that I
think of is not so much, I need to do all these things. That’s not what I focus on. First, I need to make the identity shift. Who do I have to be in order
to be at that next level? Then, the next thing is
I alter my environment. I alter my environment
because it’s much easier. I always say environment’s
10 times more powerful, 100 times more powerful
than your willpower. – Yeah. – Change your environment. New place, new car, new everything. New opportunities, expand my contacts. I wanna look in the
mirror, do I see myself just as this person, or
do I see myself as being, do I look like someone,
do I act and behave and operate like someone who’s running a nine figure business,
a 10 figure business? It’s different than a seven
figure business, right? I wanna change that first,
then my actions will show. Then my behaviors will change, right? Most people don’t get that, they wanna bend the approach, right? Lemme learn here something here, lemme learn something
there, but they don’t change who they are. It’s like cigarette, you put the pat here, you do all these little
tricks and gimmicks, but, shit, you still smoke. You still smoke, and that doesn’t work. – Ya, I know, both of us we’re really big on masterminds and investing in ourselves. I know, for me, one of the first times, I used to go to these free meet-up groups, and I found it’s kinda filled with these people that, again,
they say they want it, but they’re not really committed. When I actually invested, I said, “You know what, I wanna be around people “that are millionaires,
multi-millionaires, “people that are just way beyond “what I even think is possible. “People that are making a
million dollars in a day,” which, at the time was
so mind-boggling to me, but now I’ve been around people like that, and I decided I’m gonna invest it, ’cause you have to pay to play if you wanna be around those people, they don’t wanna be
around a lot of doubters, so you have to pay and
invest to be around them. So, I remember goin’ to
some of these events. Totally changed my mindset, ’cause I saw, a lot of them, they’re
just regular people, but they have a different way of looking at things, a different mindset. That really rubbed off
on me in a lot of ways, and it really inspired
me to raise my standards of what’s really possible,
’cause when you see that this person did
it, this person did it, this person did it, you
think, “Hey, you know what? “I can do that too.”
– I can do that too. – And just by being around
them, the osmosis of that rubs off on you, it
doesn’t take willpower, you will take on their beliefs. – I’ll share a quick story. So, when I was in my 20’s, the first mastermind group I joined, which is also, it’s organized by my mentor, Alan. So, we had this marketing
mastermind group. I was in my 20’s, I was the youngest guy. I’m not “supposed” to get in, but because I’m a mentee, so he kinda put me in there, kind of as a tagalong. I remember sitting around
with all these millionaires. All these guys, very successful. I was making, like, next to nothing. Maybe 80,000, 90,000 a
year, something like that. I was looking at these guys. You know what the biggest
thing I got out of it? Not to put them down, I said,
“They’re not that smart.” That was it! “Fuck, they’re not that smart.” Whatever they’re talking about, I get, and it’s not rocket science. That belief, it’s like hey,
maybe I could do that, too. That’s all you need. Maybe I could do that, too. – Yeah. – That’s the starting point,
that’s that spark, right? That’s planting the seed,
then you can grow from there. Okay, now what do I need to do? What resources do I need? Who do I have to be to become that person? – And being in that
environment, too, what I love is it make you feel comfortable,
and that’s a good thing, ’cause if you’re comfortable
in the environment, then you’re in the wrong
environment, right? If you’re the smartest one in the room, you’re in the wrong room.
– Wrong room. – So, I like to be in those
environments that scare me. I feel like I’m in, I’m doin’ very well, but I’ve been a part of groups where I’m, like, the quiet one, the sponge just kinda
absorbing, the fly on the wall because these guys are talkin’ about $100 million deals,
and I’m just like, wow, and I’m just observing
and learning from that. I love being in those environments where they make me uncomfortable. I can be that student in that environment. I think that’s a key thing, it’s just always being open to learning. I think that’s also been
one thing constant for us. We’ve always been willing to read books. You’ve got a huge library,
I’ve got a huge library. We’ve always gone to seminars
and invested in ourselves, and been willing to actually
decide we want to pay to learn from other people that have experience and knowledge that we want to be able to obtain. – I think it’s not just people think about why we invest so much money in ourselves. Why are we buying the books
and buying the program and attending all these different groups? It’s not so much, “Ya, but
all this stuff is free! “I can get online, I can watch videos.” You don’t fucking get it. First of all, the good
stuff is not online. It’s all the trade
secrets, all closed door. The second thing is, until you invest, it’s just different. When there’s no skin in
the game, there’s no game. There’s a difference between, you watch something for free
versus you put some money on the line, you pay more attention. – The more you pay, the
more you pay attention. – 100%. – I found that the value’s not necessarily the information, it’s what you do with it. I’ve heard things time and time again on free videos or articles and blog posts. I didn’t do anything with it, so it didn’t really have much value.
– There’s no skin in the game. – Sometimes, I go to an event or a course, and because I paid and I value it more– – You pay the hotel, you pay
the flight, you lock yourself in the room, right?
– If I actually do it and apply it, for me,
I got my money’s worth, ’cause it actually led to
me actually taking action, and sometimes we need
that again and again. I remember in my business, I had a lot of mental barriers around
really hiring people, scaling up and bringing on a manager, ’cause I had beliefs around, they can’t do as well as me. Fear of giving up control. So, I already knew. I already had information,
I read these books, but it wasn’t until I paid this coach, and invested a lot of
money in this person. That actually got me to do it, even though I had read about
it, all this sort of stuff, he got me to do it, and
that was so valuable for me. – I agree, I agree.
– I think that’s a key thing. – I definitely also wanna
circle back about skeptical. There are people that
say they’re skeptical, they’ve been burned and all that. I always say, have you
ever had a bad meal before? Yes, do you still eat? Right? It’s the same idea that, just
because you’ve been burned in the past, we’ve lost money
on so many freaking things. We have had failures,
we have gone to programs that suck, right? Invest in wrong people,
but it doesn’t mean we stop. It’s just all part of the process. So, I think when people
say, I think Tony Robbins talks about this, when
people say I’m skeptical, what it means is you’re scared. You’re afraid
– Don’t wanna get your hopes up.
– You don’t wanna get your hopes up, so instead of raising your standard expectations,
what do you do? You lower your standard. You don’t get your hopes
up, you lower expectation so you won’t fail, then what happens? You’re not playing to win,
you’re playing not to lose. – So Dan, I think one
thing a lot of people don’t realize is that they are gonna fail. – Oh yeah, guaranteed! – You’re guaranteed to
fail, and so many people, they’re trying to avoid it. I actually think that’s where
the biggest lessons are. In the faliure, and I think,
changing the relationship because the successful
person fails just as much, if not, more than the other person, but they don’t view it as failure. – I remember sometimes,
when I do speaking, I would ask the audience,
“Put up your hand. “How many of you have lost more than “$10,000 in your business? “I said put it here. “How many of you lost more than $50,000? “Well, keep your hand up, $100,000? “Half a million? “A million? At a point, two million dollars, usually it’s just my
hand and a couple people. I say, “You know what? “My hand is still fucking
up, and that’s why “I’m up here in front
of you, teaching you. “I’ve failed more than any one of you. “Anyone lost more money,
made more stupid mistakes?” And that’s why, but it doesn’t stop you. – It’s what you learn from
it, and there’s no failure, there’s just only feedback. So, if you view it as feedback, then you can always get better, you can improve from
that, and that’s what’s gonna lead you to have net success. – Yeah, and it’s about failing fast. Marketing’s about failing fast. Knowing what doesn’t work
and then you move on. So, those are some of the top reasons. Click here, watch the next video, and find out more reasons
why you don’t become wealthy. Go ahead. – Are you guys still here? – Click the video!
– Come on, click here! – Watch part two!
– Right there! Right there!

100 Replies to “How To Get Rich: 10 Reasons Why Most Don’t Become Wealthy”

  1. Enjoyed the video? Subscribe, Give it a Thumbs Up and Comment Below.
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  2. WOW NICE!!!!!! your so rich and I respect that BUT PEOPLE OF THE INTERNET BE CAREFUL ON THIS PEOPLE THAT THEY THINK THEY ARE THE BEST GURU RICHY RICH. RESEARCH BEFORE YOU BELIEVE. BILL GATES IS RICH BUT HE NEVER DO THIS THING

  3. My Mastermind group is on youtube or in books. People are not rich because.

    1. They don't buy Assets. I got into the crypto market and buy digital assets every month.

    2. They make excuses not to invest or tell me how they would be scared of losing money. I make excuses to invest and am willing to lose a few so I can catch the real winners. Loosing $$ is part of the game.

    3. Life is a constant trading game. If you win to take some money off the table, and yes losses happen, but its how you handle loss that will determine your future success. Most people only trade time for money and don't think of developing any other trading skills.
    (Stocks, commodities, 4x, stock options, binary options, cryptocurrencies, real estate) this is where the real trading game is. Add to the list if you want opportunity is everywhere.

    4. Poor people wait until everyone else is doing. Can you say buy high and sell on a prayer, at a loss or maybe a bake even maybe?

  4. Because a lot of people dont have the resource or dont have the money to start you need money to make money simple the storie of Dan Lok wihout is mentor he propably not be the man that he is today several people dont have this chance on her life to meet people that will change you re life forever

  5. I have so much knowledge on style a man and woman based on an unspoken rule after having lived in Milan, Italy for decades!! lol… but I can't share it. Hopefully w an online course that's still work-in-progress can be achieved soon as I don't have the camera nor my old iPhone photo and video works. Oh well… I'll get it done lol.

  6. Must read "Three Steps to Great Wealth" find it on amazon for like $7 for paperback and 3.99 kindle. Great book reveals one great secret.

  7. But i have a question? What do i need to do i have few gold that it helps alot to me.. And i stay a place that its not safe .. If i take this in the bank i need to pay for 12,000 a year for a small safety box.. And aside from that at least i have deposet that they can hold it 120,000.00 pesos at least.. It is better if i pawn it then get the VUL, UITF ?

  8. Why didn't you ask how much percent that they've lost. You lost millions might be just because you are capable of investing that much while the others can't even put in that much.

  9. Hi Dan thank you so much for your video. I was feeling really down due to a bad investment i did this pass month which cost me to loss $5,000.after hearing you lose 2 million I was like wow. I am currently a full time student so it did hurt me financially.. I would really like to join your mentoring group. Thank you for your time.

  10. Hey Dan, most of what you speak can be refrenced back to Robert Kiyosaki..Is there a reason you don't take his name or give his due credit for what you learned from him???

  11. That point you made regarding how much money people actually need to accomplish the lifestyle they want is a really good point and I've honestly never seen it that way.

  12. It really annoys me when I hear the usual gem that wealthy people come out with… “I started from scratch” or “I came from nothing”. The truth is… they’ve all had significant financial help off others at some point in their life, which has created certain opportunities for them that others may not have. There is no such thing as a “self made millionaire”. Nobody does it on their own. That’s only my opinion based on my own life experience.

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  14. Spot on about assets vs liabilities! Money making vs Money draining. Great simple advice. Today's youth want instant gratification & end up empty after each purchase.

  15. We want it too fast. If it doesn't happen within a year, you failed. Not within 10 years or 20 years and then maybe you failed, but already after 1 year they give up. And me in the past included. Hell I gave up after about 4 months

  16. First reason has to be, spending too much, Americans and westerns spend a lot of money in things they don't need. The start is very important, the first 100 k you have to make more sacrifices for example and save it as quick as you can.

    I agree with everything you guys say but it has to start with not spending and understanding how to get value from things that don't cost much.
    Now I have 500k in assets and 4 years ago I was homeless with just a cheap car but I agree with you, in those 3 months I was homeless it never crossed my mind I wouldn't be wealthy. I believed it thouroughly and this is definitely not the finish line. I am 27 years old.

  17. I just love your videos, so much of value. I just make 100k Indian currency per month. I increased my price 4 times. Now I know the difference a closer and a seller. Targeting 1000k by next year. Sir you are awesome!!!

  18. He says he was making nothing?? $80-90k. That’s not starting from scratch. Making minimum wage and living on your own is starting from scratch. That’s reality people are out there making $20k a year and having to live on that .

  19. Listening to this video in the car around 10min 38sec, we thought one of our tires went flat! We literally just got all four of our tires replaced with tires purchased from a popular classified ad site and panicked.

    Thank you for this video, though. Many great ideas!

  20. Wow. Dan, I clicked on this video and one before of you ( about niches ) and I quickly respect you. You have charisma. I never know what I will find in these searches.

    I am very curious about the relationship between monetary success and having a good personal character. Maybe I have some ungrounded misconceptions from the past about wealth, suits, big boats, etc.

    Thanks.

  21. He was making next to nothing and saying that he was making 80-90K? That's a lot of money to me. And maybe thats my problem.

  22. Why you or anybody else want to get rich?!!! To empower the evil within you; more money, more power, more pride, more evil. Evil is darkness and darkness comes from ignorance. So, seeking money is not so clever after all.

  23. Yep, environment is a lot more powerful than willpower. When I seclude myself, I am more productive effortlessly; but when I'm surrounded by distractions (noisy, not-doing-much people), I have to force myself to work.

  24. How to be rich from rich people? When I work for rich people and they pay poor money, that's why are poor people poor, because of rich. Rich people are poor in heart. Millions poor people become rich from their's believing idea. You was poor and now rich.

  25. I am a new subscriber. I just watched some of your videos today and i find it realistic. Im glad i found your videos. Its actually helping me to set my mind into realistic optimism. 😊

  26. no family, a kid to raise, NOBODY helps me in any way. I have to pay rent, have to feed the kid. I can not move because the law requires me to stay close to the father to see the kid. No way out. Still waiting for an advice on how to get the startup money in the little time I have free

  27. Guys! instead of just watching Vids. Let's do something and exchange ideas. Perhaps my next partner, it might be here. Let's talk on Skype and debate what we can do. Zero negativity. Skype: fred.contreras5 ADD me.

  28. My ideal lifestyle would be paying off my debts, and living for Jesus Christ. I don't really want to be rich. I owe about $14,000 in debt.

  29. It's really great videos, thanks Dan and YouTube channel. i 100% agree that mindset and the belief- in the way of thinking'we can' instead of 'we can't' then make the breakdown. Although i am still in the lower class, i think i get the key to raise. Just say thank you…

  30. Even though I had MA I was not getting the job I wanted and I had to work as a security guard. Reading books every night books about being your own boss. Finally I had to quit and move to Africa star small business and today 10 years later I have a name and great business. I hired one of my bosses who never thought I could be anything at all. He him self told me he would not hire me if it was up to him. The reason he said was perception about immigrants. Anyone can do it if I did so please go ahead quit and start your own business. Be rich and don't be racist.

  31. Life is simple
    You work for money you make money
    You ask for money you get told to guck off
    Now choose

  32. This video was recorded nearly a year ago. Is here anyone who has become a millionaire for the passed year?

  33. I love the failure speech at the end, reminds me of a quote "A Sensei has failed more times than a novice has tried"

  34. The real entrepreneurs and owners of businesses don't wear suits they wear jeans and a t-shirt and a pair of Nikes.

  35. He say people want to be rich but dont want it enough, but thats not the problem, its not because we dont want it enough, the problem is that we dont know how to become rich, a lot of people work hard everyday to make money but dont know how to invest it and use it on their side

  36. My brother has that mindset, just 100% in it to win it. Top engineer at a cancer research company at 18 yrs old with no high school degree.
    Just wanted to see if I could get some of that secret sauce… I guess I'll just take my tiny salary and go somewhere like Austria where housing prices are low.

  37. I really like this conversation because it touches many “poor mentally taboos” I invested a large amount in starting a recording company that failed majorly! Owing banks, friends etc. was a devastating emotion that I held onto for a long time. I wasn’t bad at my profession but I was not well informed so I just burned money on artists that ended up getting good deals from other labels that knew the business much better. I began coaching singers from Xfactor, got talent, voice etc. and made ok money but was afraid to take my coaching business to the next level, so I jumped from contract to contract. Although I was the core value I continued working for other companies and only kept a few students privately. So I completely understand how many of us are dead scared of the responsibility that comes with starting or growing our own business. Surrounding ourselves with richer people is definitely inspiring if we just take the good advice that they possess. And yes many are not smarter than you and I. In fact I got myself into trouble by arguing with my bosses because I saw potential that they didn’t. Advice: keep your mouth shut and ears open. What they had that I didn’t, was the balls to run their business, so of course they wouldn’t listen to all my pearls since I was just hired, so as you mentioned: bring value to the table! Don’t just be a smart ass. You guys touch many great areas. I actually been looking at tons of videos and many of them are full of shit, and many also irrelevant for my business. But your talks and attitude covers things in common for all businesses, because it’s the mentality of a healthy businessman. Cheers! J.

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