Build It… Then Sell It Rich

[0:00]Excuse me, sir. Sir, I have a question for you. How did you get rich, sir? I grew a channel to 20 million followers in the United States. Yes, sir. My one piece of advice is this. You don't get rich by working for someone else. You don't get rich by being paid a salary. You don't get rich by starting your own business. You slave your guts out night and day meeting cash flow crises. You get rich by selling your business. So my advice to someone who wants to get rich, start a business. Build it up for a couple of years and then sell it. What type of company did you sell? Are you happy with what I said? It was a great answer, but sir, I promise you, it's not enough for a clip. No more. Sir, you're not going to get more out of him. He founded the Adam Smith Institute. He rejected us yesterday, but look who we just saw. How you doing, sir? I now know who you are. I looked you up. How old are you today? I'm in my 86th year. You're 86 years old? I will be this year, yes. Is it better to be a business owner or an investor in today's world? Oh, it's better to be a businessman. Investors you take your chances. As a businessman, you're dependent on your own abilities, your own skills, your own expertise. Now yesterday you told me that the way to get rich in today's world is to sell a company. What do people need to understand when they want to build a company to sell it? Join a firm, learn the trade, and then with a colleague or two, set up your own version, build it up over a few years. I mean two or three years, and then you sell it for a multiple of them. And you become rich. I bet you've read a lot of books before. What's the number one book anybody needs to read before they die? Before they get rich, they need to read Adam Smith's Wealth of Nations. You're 86 today. Do you have any regrets? Oh, everyone has regrets, of course. Regrets I've had a few, but then again too few to mention. Hey, that's some Frank Sinatra right there. If me and you died tomorrow, and you had one more message to leave with the younger generation, what would that be? My motto, in Latin, Quod Tango Muto. In English it means that which I touch, I change. If you can change the world, change the lives of other people for the better, you'll get rich.