The System Has LIED to You... Here's How To Get Rich | Simon Squibb

The Early Struggle and Awakening to Reality 00:10

"I realized as soon as I hit the street that that 13 years in school was a complete waste of time."

• Simon Squibb's transformative journey began with a personal tragedy, as he lost his father unexpectedly and subsequently found himself homeless at just 15 years old.

• This experience shattered his preconceived notions about education, making him realize that the traditional school system had not equipped him with the practical skills needed to thrive in the real world.

• He noted that despite 13 years of schooling, he lacked fundamental knowledge about money, communication, and entrepreneurship, understanding that the only lesson was how to secure a job, which he was ill-prepared for due to a lack of qualifications.

The Turning Point: Finding a Way Out 02:50

"I can't live this way. I've got to find a way out."

• Faced with homelessness and a lack of support from social services, Simon hit rock bottom but refused to remain stagnant.

• He described a pivotal moment when he realized his entrepreneurial potential, igniting the "entrepreneur muscle" in his brain that had never been activated in school.

• This realization prompted him to take action, leading him to see an opportunity in a messy garden at a large house, which he perceived could be a service worth paying for.

The Birth of an Entrepreneur 03:46

"That's how I started my first company. Because I had no choice."

• Simon's determination led him to offer his gardening services, setting a fee of 200 pounds for his work.

• His landscaping business symbolized his first step into entrepreneurship, driven not by desire but necessity.

• He emphasized that many people feel they need significant capital to start a business, countering that with creativity and effort, anyone can begin with little to no money, as he did with just an iPhone and sheer will.

The Reality of Hard Work and Failure 04:54

"If you've got money, it doesn't mean the work doesn't get done. It means you still got to do the work."

• Despite achieving significant wealth, Simon stated that ongoing hard work is essential, especially when embarking on new projects.

• Misconceptions around "passive income" led him to clarify that there's no such thing; work is always involved, and many aspiring entrepreneurs mistakenly seek shortcuts instead of commitment.

• He reflected on the importance of having a mission and purpose, reiterating that real success is grounded in consistent effort rather than merely pursuing financial gain.

Lessons from Failure and Experience 06:20

"Of course, we all hear you learn from failure. That’s true, but it’s also a bit weak of a reason to fail."

• Simon's first business eventually collapsed because he neglected seasonal changes in demand, turning this setback into a crucial learning experience.

• Despite the failure, he recognized that he had already built valuable skills and a financial cushion, allowing him to learn how to attract clients and manage employees effectively.

• Highlighting resilience, he noted that failure is part of the entrepreneurial journey and is often accompanied by important lessons and insights to apply in future ventures.

The Importance of Follow-Through in Entrepreneurship 07:32

"The biggest thing is follow-through. People just don't want to follow through, and then they wonder why they don't make it."

• Simon Squibb emphasizes that one of the critical lessons he has learned through his entrepreneurial journey is the importance of follow-through. He believes that persistence is key for success, as many people give up too easily and fail to achieve their goals.

• He advocates for pushing through obstacles and highlights that building successful ventures requires a commitment to seeing tasks through to completion.

Collaboration and Teamwork in Business 07:54

"A lot of people think that someone’s making it on their own. But no, everybody I’ve ever known that’s successful has done it in teams."

• Squibb points out that success is rarely achieved in isolation and encourages the idea of teamwork. He shares that throughout his career, he has relied on partners and a team to achieve goals, reinforcing the concept that collaboration can amplify results.

• This contrasts with traditional schooling, where individual effort is often emphasized, suggesting that the education system might instill a sense of independence that isn't beneficial in the real-world business context.

The Flaws of the Education System 08:08

"In school, they teach you, 'Sit down, do an exam. If you get an A, you're a success. If you're a D, you're a failure.' That teaches you the wrong thing."

• The speaker critiques the education system for its failure to prepare students for real-world business scenarios. He believes that the emphasis on individual achievement, such as doing exams alone, cultivates a dangerous mindset.

• Squibb argues that collaboration and teamwork are essential for success, stating that if students were to work together on exams, they would achieve better results, thus promoting the idea that learning to work as a team is crucial.

The Awakening of Entrepreneurship through Experience 09:14

"I realized I could take an idea and make it real. So, why would I work in someone else's business building them value?"

• Squibb reflects on the moment he felt his entrepreneurial spirit awakening while working at a hotel. Despite initially enjoying his job for the financial security it provided, he quickly realized that he preferred to create value for himself rather than for someone else.

• This realization led him to start his own businesses, such as Accommodation Express, demonstrating his ambition to innovate and build something from the ground up.

Insight from Global Experiences 11:28

"I woke up...I didn’t realize how big the world was, how much opportunity there is."

• After traveling to Hong Kong, Squibb experienced a profound awakening to the vast opportunities available in the world. The trip allowed him to recognize the limitless potential that comes from innovative thinking and determination.

• Squibb emphasizes the importance of exposure to new experiences, as it expands one's perspective and encourages the pursuit of ambitious goals.

Balancing Ambition with Personal Life 13:21

"It’s hard to justify being away from him...it’s a difficult one."

• Squibb discusses the challenge of balancing his ambitions with the responsibilities of being a parent. His desire to achieve great things often conflicts with the natural instinct to spend time with his child.

• He advises young people without children to take risks and chase their ambitions while they can, as these responsibilities can complicate the pursuit of entrepreneurial goals later in life.

The Value of Working Without Boundaries 15:10

"If you're loving what you do and you're surrounding yourself with people you like doing business with, why do you need a day off?"

• Many entrepreneurs often find themselves deeply engaged in their work, finding joy and fulfillment in what they do. This raises the question of why a day off is necessary when work feels enjoyable and invigorating.

• The speaker experienced a shift in perspective after moving to Hong Kong, where he encountered opportunities that encouraged broader thinking and creativity.

• In Hong Kong, he observed that limitations on ideas and potential were often self-imposed; one's imagination could significantly expand their opportunities.

Lessons on Fear and Financial Success 16:09

"I think one of the things that the three of us experience a lot is the fear of missing out on what could be next."

• The conversation highlights a common anxiety among individuals, regardless of financial success; it’s the fear of potential loss or the feeling of being unfulfilled despite apparent achievements.

• The speaker realizes that successful individuals often have an intrinsic desire to continue striving, which is fundamentally different from an athlete's career, as entrepreneurship does not have a defined expiration date.

• This continuous drive to innovate and leverage accumulated knowledge suggests that many successful people do not equate their worth with leisure or retirement but rather with ongoing contribution and growth.

Navigating Life After Selling a Company 18:21

"Retirement is a lie."

• Upon selling his company at the age of 40, the speaker anticipated a carefree life but quickly realized that retirement led to a lack of purpose, which can lead to emotional turmoil.

• He points out that individuals often face significant mental health challenges shortly after retirement, as purpose and daily structure are critical components of a fulfilling life.

• After selling his successful branding and strategy company, he found joy in being a father but struggled with the loss of his professional identity, feeling adrift without the goals and challenges that defined him.

Purpose and the Impact of AI on Employment 20:22

"What worries me about AI is that it will take away people's purpose."

• There’s concern that the advent of AI may replace jobs not necessarily for the task's value but for the inherent need for individuals to have purpose and direction.

• The speaker underscores that it’s essential for individuals to find activities that provide meaning in their lives, regardless of job security.

• He emphasizes the lack of purpose experienced during the initial phases of retirement and relates it back to the importance of work and engagement in maintaining mental health and vitality.

Identity Beyond Business Success 21:39

"I lost my identity."

• Following the sale of his company, the speaker grappled with a loss of identity, realizing that for many entrepreneurs, their professional roles are intertwined with their self-worth and personal identities.

• The initial thrill of financial freedom was soon overshadowed by feelings of emptiness and a lack of growth as he adjusted to life beyond his professional accomplishments.

• This shift illustrates the profound impact that our work and purpose have on overall wellbeing and identity, indicating the need for continuous personal development, no matter the phase of life.

Elon Musk and Business Practices in Asia 22:48

"Elon Musk is copying China. They’re way ahead."

• Simon Squibb shares his observations from his travels in Asia, particularly noting that innovation and business practices there are often misrepresented as being in the past rather than the future.

• His experience in Asia has led him to feel a deep fascination with the region, which he believes holds lessons for global business. He recognizes that the perception of these places as 'has-beens' is entirely wrong.

Cultural Differences in Business Conduct 23:17

"Business in Asia is very different from how you do business in the West."

• Squibb contrasts the transactional nature of American business with the relationship-first approach in regions like the Middle East and Hong Kong.

• In Hong Kong, he explains that it often takes years to build trust and develop relationships before significant financial transactions occur, highlighting a more gradual approach to business dealings.

Common Values Across Cultures 24:31

"In the end, we’re all the same. They love their kids in Asia."

• Despite cultural differences in business, Squibb emphasizes shared human values across cultures such as love for family, a desire for safety, and the ambition to improve life circumstances.

• He points out that high net worth individuals, whether in Hong Kong or America, often display similar traits in their business dealings, emphasizing how the concentrated wealth in certain areas may create a unique dynamic.

The Impact of Identity on Mental Health 25:31

"This is applicable to not just entrepreneurs, but also athletes."

• Squibb addresses the identity crisis many face after significant career transitions, like selling a business or retiring from sports.

• He reflects on his own struggles with mental health after selling his company and suggests that many people experience similar feelings when they abruptly change their life’s focus.

Finding Fulfillment Beyond Wealth 26:10

"We’ve got so fixated on money, we’ve forgotten what actually drives wealth."

• Squibb emphasizes the importance of solving problems as a pathway to generating wealth rather than merely pursuing money.

• He recounts how creating content stemmed from his desire to share knowledge that he lacked at a young age. This desire for creating value for others reignited his sense of purpose.

The Role of Education in Resolving Identity Issues 28:01

"The education system is exactly the same everywhere."

• Squibb believes that the traditional education system fails to adequately prepare children for the future by asking them what they want to be when they grow up, which can limit their aspirations.

• He suggests a transformation in how we engage with children, advocating for questions like, "What problem will you solve?" to help open their minds and encourage a focus on practicality and innovation.

The Flaws in the Education System 30:36

"Why the hell are we doing that to people? I reckon the school system does it on purpose; it's trapping young minds to work for someone else."

• The discussion highlights a troubling trend where many young individuals find themselves in careers that do not align with their passions after adhering to societal expectations around education.

• A significant percentage of graduates, approximately 70-80%, end up in jobs that do not utilize their degrees, which raises questions about the effectiveness of the education system.

• The hosts speculate that the university system may be functioning as a profit-driven enterprise rather than prioritizing student fulfillment and career success.

The Impact of Debt and Career Choices 30:49

"You can get $100,000 worth of debt to go and do a four-year degree that is useless when you come out the other end."

• Students often graduate with significant debt, having pursued degrees that may not offer viable career paths. This debt restricts their financial freedom, making it difficult to pursue entrepreneurial ventures.

• Emphasis is placed on the idea that many young people enroll in university out of a lack of guidance or understanding of alternative options, leading to a cycle of financial burden.

Alternatives to Traditional Education 33:23

"My personal mission is to provide huge amounts of knowledge to people for free."

• The speaker expresses a desire to make valuable knowledge available freely to the public, challenging the notion that paid education is the only effective way to learn.

• The discussion mentions a successful YouTube video that generated significant views and revenue while being offered for free, illustrating how accessible information can change lives without the need for a financial barrier.

Critique of Online Education and Course Selling 33:53

"People that lie about their success and sell a course about selling a course piss me off."

• There is a distinction made between genuine educational content that provides value and misleading courses that promise quick wealth without substantial backing.

• The speaker acknowledges the potential value of quality online courses while criticizing those who misrepresent their qualifications or success to sell educational materials.

The Value of Free Resources 37:38

"Free can have value if you put value in free."

• The sentiment is conveyed that free resources can be as impactful as paid ones if sufficient effort is made to ensure they are valuable and engaging.

• The importance of creating enriching content is emphasized, suggesting that the perception of value often depends on the effort and quality of the information presented, irrespective of its cost.

Successful Business Traits 38:13

"The common thread among successful businesses is that the founders never want to sell them."

• Successful entrepreneurs build companies with the intention of creating something valuable and sustainable rather than focusing on a quick sale. A mindset that prioritizes the creation of a lasting business leads to better outcomes.

• An example shared is Simon’s investment in Lovable, a company that addresses a common problem: providing easy access to a CTO. This innovation came from a desire to help a friend, not from the goal of creating a billion-dollar company.

• When businesses are built to solve problems that personally affect the founders, they often achieve significant value, as seen in Simon's own venture aimed at reforming the education system.

The Right Mindset for Selling a Business 40:10

"The best time to sell your business is when you don't need to sell it."

• Timing plays a crucial role in the sale of a business, where optimal conditions arise when the entrepreneur is not desperate for money. Businesses that are doing well financially have leverage and can negotiate better sale terms.

• Historical examples illustrate how offers can escalate significantly when sellers are not in dire need. For instance, Mark Zuckerberg's refusal of increasingly large offers for Facebook showcases the power of not needing to sell.

Finding the Right Investors 42:55

"You should only sell equity in your business if the person coming in can 10x your business."

• Investment shouldn't be about gaining funds alone; it should also be about bringing in expertise that can significantly enhance company value. If an investor can’t add tangible benefits beyond just money, they might not be worth bringing onboard.

• Simon emphasizes the importance of alignment between an investor's skills and the business needs. He mentions specific individuals from his network that bring unique expertise he currently lacks, underlining the necessity of strategic partnerships over mere financial transactions.

• Acquiring capital without additional value could lead to entrepreneurs becoming dependent on their investors, resulting in a loss of autonomy in their business.

Transitioning from Talking Heads to Engaging Content 45:41

"I went live on TikTok... I made $150 just from helping someone."

• After six months of creating talking-to-camera content, Simon Squibb felt he had run out of things to say. He transitioned from static "talking heads" to live interactions, realizing that direct engagement led to greater success and viewer interest.

• The initial realization came when he went live on TikTok and discovered a new features allowing viewers to tip content creators. This led to unexpected earnings that sparked a change in his mindset about monetization in social media.

• He felt guilty for making money from helping others, which he previously vowed not to do for profit. However, he later recognized that this newfound wealth could be utilized to assist more people.

The Importance of Real Stories and Connection 47:41

"I asked a lady what her dream was and... I was like, 'Wow, this is such an interesting story.'"

• During a chance encounter at a supermarket, Squibb engaged a woman by asking about her dreams, which revealed a heartfelt aspiration to open a care home. This interaction emphasized the rich narratives that can emerge from everyday conversations.

• He felt the missed opportunity of not recording her story, illustrating the potential for impactful content creation through genuine connections.

• Subsequent interactions with individuals about their dreams led to rewarding exchanges and further content ideas, demonstrating that demonstrating real-life events can inspire viewers more effectively than just sharing advice.

Collaborating for Growth: Overcoming Barriers 49:37

"If someone's listening to us... just don't give up and keep pushing through."

• Squibb recounted his efforts to collaborate with popular figures, such as Mr. Beast, emphasizing perseverance in networking. The process of overcoming gatekeeping obstacles is essential when working toward collaborations with prominent individuals.

• He shares that many coordinators or "gatekeepers" can impede connections, but sticking to one's goals with a pure purpose often leads to fruitful collaboration opportunities.

• This emphasizes a significant lesson about the necessity of providing value to desired collaborators. Building relationships is not just about asking for help but also providing mutual benefits, leading to a more direct pathway to success.

The Value of Collaboration in Content Creation 51:41

"Half the reason I'm successful today is because I've collaborated with people."

• Squibb highlights that collaboration is a cornerstone of growth in content creation. Many aspiring creators overlook this strategy, yet it is crucial for building popularity and reach.

• He notes that arriving at an opportunity with value to offer is key, as successful networking often thrives on reciprocity.

• The idea of leveraging one's platform to help supporters can turn relationships into significant partnerships, establishing a win-win scenario, ultimately benefiting everyone involved.

The Importance of Providing Value 52:56

"Your job is to become more valuable and add as much value as you can to others."

• In building relationships, one must focus not only on what they can receive but also on what they can offer. The exchange of value is crucial for productive interactions.

• Credibility can significantly influence encounters with new individuals, especially when attempting to interview or connect with those considered successful.

• Early strategies included showcasing credibility by mentioning notable individuals previously interviewed, such as Mark Cuban, to establish a connection and be taken seriously.

The Misconceptions About Wealthy People 54:31

"A lot of wealthy people want to give back; they want to help."

• Many people harbor negative stereotypes towards the rich, often perceiving them as greedy or evil. However, the reality is that many wealth creators are eager to contribute positively to society, especially in areas they are passionate about, such as education reform.

• It's important to align one's mission with that of wealthy individuals when seeking support or investment. Those who resonate with your goals are more likely to offer their assistance.

• Personal experiences of success can lead to an increased willingness among wealthy individuals to provide guidance and opportunities to others, particularly those who are self-made.

The Flaws of Traditional Education 56:40

"I cannot be a hypocrite and say the school system is broken and then put my own child through it."

• The current education system is criticized for its one-size-fits-all approach, disregarding individual interests and learning styles.

• Home education has been highlighted as a more effective personalized method of learning, adapting to children's unique curiosities and passions.

• By focusing on a child's interests (for example, sword fighting), parents can explore related subjects, such as history and economics, making learning more engaging and relevant.

• This approach counters the traditional system that forces students to learn material they may not find interesting or applicable to their lives, leading to disengagement and lack of retention.

The Value of Support in Achieving Success 59:59

"The richest people that I know are often the most willing to help others."

• Successful individuals recognize the importance of mentorship and guidance that they received on their journey.

• There is a shared understanding among the successful that they have a role to play in lifting others, even if there's no obligation to give back.

• This willingness to help create a supportive community where learning and growth are encouraged, reflecting a cycle of giving and receiving that benefits everyone involved.

The Joy of Giving Without Expectation 01:00:23

“What actually makes us happy is to give without take. I help you because I can.”

• Simon Squibb emphasizes the joy derived from helping others without any expectation of return. He relates this to the experience of giving a present, where the act of bringing joy to someone else is more fulfilling than receiving.

• He critiques the societal mindset that has developed over the last century, particularly since the introduction of the tax system, which encourages transactional relationships: "I'll help you if you help me." This has led to a confusion about the nature of generosity.

• Squibb reflects on tribalism, explaining that in small communities, helping those in need strengthens the tribe as a whole. The reciprocal nature of modern society is contrasted with the natural inclination to help others freely.

The Impact of Expectations on Relationships 01:02:36

“Most of my moments in life that haven't been good are because I had expectations when I helped someone.”

• Expectations can lead to dissatisfaction and conflict in relationships. Squibb shares a personal anecdote about lending money to his brother and experiencing a fallout due to his expectations of repayment.

• He suggests that giving without conditions could lead to greater personal freedom and happiness. He encourages small acts of kindness, advising others to help for free as a way to experience a deeper fulfillment: “If you help someone today for free, I promise you'll sleep better.”

Defining Happiness vs. Purpose 01:03:25

“The best thing you can chase is purpose.”

• When discussing dreams and aspirations, Squibb notes that many people mistakenly equate happiness with success. He argues that true fulfillment lies in pursuing one's purpose rather than merely seeking fleeting happiness.

• He illustrates this point by recounting his experiences with business. He acknowledges that while he experienced unhappiness while performing unglamorous work, such as cleaning toilets for a client, the overall success and purpose of his business outweighed those moments of discontent.

• Squibb believes that one can be both unhappy and happy simultaneously while pursuing meaningful work, suggesting that purpose provides a stronger foundation for life satisfaction than merely chasing happiness.

Wealth and Unhappiness in Perspective 01:05:22

“Money itself doesn’t make you happy.”

• There is a common misconception that wealth guarantees happiness. Squibb points out that many wealthy individuals feel trapped in jobs they dislike and possess items that do not bring them joy.

• He contrasts financial success with personal freedom, emphasizing that owning one’s time is far more valuable than material possessions. His realization came when he compared his life to a neighbor's, who, despite earning a significant salary, was enslaved by debt and work obligations.

• Squibb warns against the allure of debt and materialism, advocating for a perspective that values personal autonomy over social status.

The Importance of Time Over Money 01:08:37

"What they never own is their time."

• Simon Squibb emphasizes that many people mistakenly believe that wealth will bring happiness, but true fulfillment comes from owning and managing one's time effectively.

• Starting a business at a young age allowed Simon to avoid the conventional grind of a 9-to-5 job, which he associates with unhappiness.

• He believes that making difficult choices early in life can lead to an easier and more rewarding life later on, contrasting this with the idea of taking the easier path initially, which may lead to hardship down the line.

Leaving a Lasting Message 01:09:05

"The purpose of life is a life with purpose."

• When asked what message he would leave for the younger generation, Simon expresses the importance of living a purposeful life.

• He wants his legacy to show his son that he is the most significant part of his life, emphasizing the idea that children learn from actions rather than words.

Teaching by Example 01:09:35

"Kids don't do what you say; they do what you do."

• Simon highlights the crucial lesson that children learn behavior from observing their parents.

• He shares a personal anecdote about leaving for a live stream where he helped individuals pursue their dreams, indicating the impact of showing his son how to uplift others through his actions.

• The focus is on giving without expecting something in return, a lesson he hopes to instill in his son through demonstration rather than instruction.