Lessons - Legacy Education vs Real Experience | Dean Graziosi - NY Best-Selling Author, Entrepreneur, and Investor

In this lessons episode, discover why specialized knowledge is the new asset in an evolving education landscape. Learn why legacy education is losing its grip as self-education and mastermind groups reshape success and explore how leveraging collective experience can accelerate your path forward. We have all this inequality. So where do people put their confidence in education and opportunity? Because again, you want to at least get people on the right track, right? You want to at least get people moving in the right direction because if they can stack a few wins in their favor, I'm sure they have some win behind their back, right? So if a carpenter has a hammer in his hand, everything he sees is a nail. So maybe I'm a little guilty of that for what I'm about to say, but I've been in the industry of selling knowledge that I've learned or my own experience for 27 years. I'm partners with Tommy Rollins. He's been selling it for 45 years. This industry of impacting others by our life experience has given us so many gifts. Tommy changed my life 27 years ago and I brought his course. And then all of a sudden, he changed my life and I said, I'm going in this industry. So I'm going to look through that lens for a minute. I really want to stick with me here on this. Think about whether you're how much money you have, where you're starting right now, what college degree or none do you have? What experience do you have? Think about the power of specialized knowledge. Think about this. You know, when I was in my 20s, there was no internet. There was no Wi-Fi. I didn't vlog videos. I couldn't have a great Zoom call like this with you, Scott. I couldn't go on YouTube and look for inspirational or entrepreneurial videos. How to get success? We got to find a book, right? And read a book if you're lucky. You could do that, right? But what is specialized knowledge? Specialized knowledge is the complete opposite of general knowledge. Prior to the last 20 years, if you wanted to do something, your brain would immediately think, I have to go to school and I have to get a master's degree in that. And then I have to go intern with somebody forever and then I could work my way up. We have collapsed decades into days. You just find somebody who's done what you've already done what they've already done what you want to do. And you either cut a check for speed by their course of training or workshop the program, go mentor with them, become an apprentice with them, and it's the fastest way to condense time by getting specialized knowledge. Meaning if you are an accountant and you've been working for a firm for 20 years, and it's time to start your own business. You can go back to school to get a business degree and learn how to run spreadsheets and build templates and business plans and KPIs and SOPs and metrics in the first hire, or you could find somebody who's done it and just literally wrote this condensed decades and just get the specialized knowledge of how to go from employee to owner. This is where the world is opened up. That's why this industry of providing specialized knowledge, Tony was certainly, I mean, he's the godfather of the whole thing. Yeah. I don't think there's anybody been in second as long as in as me. He's got 44 years. I got almost 30 in this industry every day and watching it grow like this. It's at a billion a day heading throughout the trillion a year. I think it is the great equalizer Scott. I think it's the great equalizer because every single person watching and listening right now hasn't insanely valuable asset called your life experience. You have a skill that you learned at work. You have a life experience that you went through that you're on the other side. You have passion that you could share with others and in today's world knowledge is the new asset. It is the new currency. If you know how to package it, you know how to deliver it and I think it's the great equalizer. If you have a business, you should have an information product on your P&L. If you don't have a business, what a great job start. You don't need product in the warehouse. You don't have to buy it. You don't have to spend anything for it. You don't have to warehouse it. You don't have to ship it on a truck. You don't have to worry about inflation because you're not paying for the product. Your product lives here and that's the business we've been in and I truly believe it's the great equalizer. So I have opinions about traditional MBA and traditional school and when I went to university or college called university in Canada, they taught you how to learn and how to engage in new ideas and that was great but it didn't really give me a lot of practical and that's my issue with MBAs and that's my issue with sort of legacy education. I have a very strong feeling about legacy education but why do more people still subscribe to legacy education where not all professors but say I pick a number 80, 90 percent of professors haven't built a business in their entire life versus learning from people who have literally built a business own a PNL have hired somebody last week. Why is there that disconnect? I think it's just a habit. I think it's way been programmed. I think it but it's changing and it's changing really fast and you see it. One of the reasons Tony and I built a company called mastermind.com is nine years ago. Nine years ago we talked about it. Seven years ago we were on a golf course. I golfed twice a year. It's with Tony. He golfed twice a year. So two years times a year just gives time to talk. We're on a golf course and we said it's time. It's time to make self-education the new norm. That was our exact words God. So you and I when next time I come to Florida and we're together you and I'll have a lot of conversation around that. How do we make self-education the new norm and collapse time from start to results? Go to school for eight years, get an internship or go work for something. We was freaking doing it today. Like you said they hired somebody an hour ago. They fired somebody a day ago. They have a PNL. They're reading. They have SOPs. They have keep keep performing indicators like they have KPIs at one start. So I think it is a hangover of an ancient time. I believe the school system I have my own opinions has been growing very linear and the world is growing exponentially. I had a friend of mine. He's got a couple hundred million dollar your business. He said, if you took somebody from 50 years ago and you brought him into today and you showed him the phone and he's like, oh, they'd be blown away at everything. He said, and then if you brought him in the classroom they'd go, oh, the blackboards now are whitewood. And I was like, wow, how's it? That's a pretty right. It doesn't mean it's all just all people. But here's here's some things that'll blow your mind. Did you know that only 72% of everybody who gets a degree right now doesn't use it. They don't get a career in that field. And 57% of the people that do use it dislike the job they're in. So you're 22%. Maybe 10 people out of a hundred that get a degree actually use it and like it. It is it is exponentially going to shift. And I see it. And that's why I think this industry is being fueled. I think my daughter, when she's 18 years old, when she wants to do something, she doesn't think in any other terms except going online, going online and finding somebody who's already done what she wants to do and either watch their videos by their course or ask me if you can get coaching by my it is shifting. And why I think it's the it's the great equalizer. So it's interesting because it's shifting. But then it brings with it a new set of problems as well because if somebody is going to be a self-taught individual, somebody's going to be that that auto-died act right. They want to go out into the world and start to explore all the sudden there's no more regulation. There's no more third party that audits the content. And there's no more you know, it's just like the wild west of learning. And that's what scares people shitless. So how do you when you start to become a self-taught individual go out into the world figure out who's legitimate who's actually done it. I mean Tony operates at another level like it's not even it's not even in the realm of most people that post stuff online right and teach online. But you have all these different opportunities. So where do you go? How do you understand what's but what's not? I think that's a great question that I what I believe is looking at the experience they had. Now could someone y'all be great about teaching you something they've never done before? Probably. I'm sure it's in some instances. But I think we have the opportunity the way things are going there are going to be self-regulated. People who don't deliver actual value will last long. I think word of mouth was spreading so much that there is message boards everywhere talking about good online education not so good online education. And we have the opportunity to do a little research right. You find somebody that's in a lane that you're open to do. You can see they've been in it for three months. Are they the teacher or something they've never done? Or are they somebody who did it for 20 years and now they're serving by delivering the faster path because they can they can give the blueprint how to get there and what to avoid? And I think it just I think as we evolve we will create new regulatory ways and intuition that you can decide good, bad or otherwise. Because this is where it's going. There's no question about it. This is where it's going. And you're right. I don't want to knock professors but 80% 90% have never done the thing you're teaching. I'd rather run from the person's actions. That's another issue too. I guess traditional education also has this problem. Yeah, dad, you know, when you think about it. So at first of all, that is such a wild domain mastermind.com. I love it. I can't it can't even imagine what that cost you. But I was just pretty can't but it was worth. I have no doubt. So masterminds are a very specific way of learning and a very specific way of of teaching and consuming knowledge. I'd actually notice that masterminds are a little bit more prevalent in certain industries. So I came from software where masterminds are not as prevalent whereas in real estate, they're a lot of masterminds. So the mastermind format from somebody that owns the domain itself, what is so special about this particular format? Like maybe just layout. This mastermind is a tailor to a certain kind of person that learns a certain kind of way versus any other kind of learning or whatever networking group. When Tony and I we co-founded the company and we just said, what is move the needle for us more than any other thing in the world? And we said masterminds. And when we say masterminds, we think of it more collective. It could be a workshop. It could be a community. It could be the collaboration of likeminds. I think early in the old calling to mastermind of two people with the same outcome get together in collaborate and it creates a third mind that's smarter. Why is it? I mean, we have all solved. Big of problems. When we're in a room with likeminded people with likeminded goals, there's zero chance that it has exponentially grown your life. And if you haven't had that opportunity, maybe that's the unfair advantage you're missing. So the reason that we bought that domain and decided six years ago, like let's, you know, we've been in this business 74 years between the two of us. And we're still not like we used to do it, right? We're still doing the biggest events in history. We'll do one next couple weeks with, you know, a million people registered. It's insane. It's amazing. But we said, why don't we pull back the curtain show people the power of learning specialized knowledge or the collaboration of getting in a room or getting a course or getting a workshop or getting, you know, a community of likeminded people that can help you solve your problems, anchoring confidence and courage and give you past the go faster. So for me, we have a master. We have a Tony and I are, you know, we have a super high end mastermind small group that that we do. But our company has one along the way at each level of likeminded people. We have beginners that group together. We help them get into their first sales, next sales, right? Then we have people that are in the business looking to go from 100 grand a month to a million months. So we have a master line of people that are a hundred grand a month going to a million so they can collaborate and all share. And we have a group. We're probably the average person's worth $50 million. But they're the same group looking for the same things, looking for more contribution and wealth preservation and family and things like that. So it's likeminded people who come together that have collaborative ideas but also have wisdom and skills to allow you to go faster. I hope that described it. Thanks for tuning in. If you found this valuable, don't forget to hit that subscribe button so you never miss an episode. And if you want to dive deeper into this conversation, check out the links in the description to watch the full episode. See you in the next one.