Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146

Last updated: Jun 2, 2023

The video is an interview with Tom Bilyeu, who shares his story of going from being broke and sleeping on the floor to building a $1 billion business, and discusses the importance of personal responsibility and choosing beliefs that align with taking action towards success.

The video is an interview with American entrepreneur and broadcaster Tom Bilyeu, who shares his personal story of going from being broke and sleeping on the floor to building a $1 billion business. Bilyeu talks about the importance of accepting personal responsibility and choosing to believe that one can get better, even if they are initially average or not good at something. He also discusses the dangers of making excuses and the need to align one's behaviors with skill acquisition in order to succeed. Bilyeu emphasizes that while affirmations and positive self-talk can be helpful, ultimately it is one's actions and beliefs that determine success.

  • Tom Bilyeu went from being broke and sleeping on the floor to building a $1 billion business.
  • Personal responsibility is key to success.
  • The story you tell yourself about yourself is the most important thing you will craft.
  • Acquiring skills is all life is about.
  • Beliefs and value systems are created subtly from childhood and can govern a person's perception of what is worthy of respect.
  • Brain plasticity and learning are fundamental to the human design.
  • Choosing beliefs that align with taking action towards success is important.
  • Success doesn't guarantee happiness.
  • Diet is the biggest problem in anxiety.

Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 - YouTube

Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 001

Tom Bilyeu's Story

  • Tom Bilyeu went from being broke and sleeping on the floor to building a $1 billion business.
  • He struggled with feeling average and not special.
  • He realized that accepting his average status would still allow him to be successful.
  • He believes that personal responsibility is key to success.
  • He quotes Kobe Bryant: "Excuses don't block dunks."
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 002

Choosing Beliefs

  • Tom Bilyeu believes that the story you tell yourself about yourself is the most important thing you will craft.
  • He changed his self-story by deciding to believe that he could get better.
  • He believes that the only belief that matters is that if you put energy and effort into getting better, you will get better.
  • He thinks that acquiring skills is all life is about.
  • He believes that behavior is ultimately all that matters.
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Personal Growth

  • Tom Bilyeu thinks that it's hard to believe something if you don't have some kind of subjective evidence for it.
  • He didn't believe he could speak in front of people until he did it.
  • He doesn't believe in the self-development community's narrative that you need to look in the mirror and say affirmations.
  • He thinks that behavior is ultimately all that matters, not just saying affirmations.
  • He believes that if you make all the right decisions but believe it's impossible for you, you won't take the steps to succeed.
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Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 - YouTube

The Importance of Personal Responsibility

  • Tom Bilyeu believes that personal responsibility is key to success.
  • He thinks that excuses don't block dunks.
  • He believes that the most insidious thing about excuses is that they give you a valid reason to feel like a victim, but they won't serve you moving forward.
  • He thinks that people who believe it's impossible and encounter difficulties will stop 100% of the time.
  • He believes that personal responsibility is about taking action towards success.
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Beliefs and Personal Responsibility

  • Tom struggled with beliefs that he was not good enough and that success was not possible for him.
  • He realized that he needed to align with beliefs that were true about humans, such as the fact that humans are designed to learn and grow from context.
  • Tom accepted that he was average, which allowed him to focus on being a learner and to get his sense of pride from being willing to admit what he was not good at.
  • Tom's success is a result of his tremendous self-awareness and humility.
  • Self-awareness is a double-edged sword that can make a person more anxious, but it is a necessary skill for success.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 008

Constructing Beliefs and Value Systems

  • Tom emphasizes the importance of constructing beliefs and value systems that align with personal goals and values.
  • Most people do not realize that they are constructing beliefs and value systems, which can lead to subconscious reinforcement of negative beliefs.
  • Tom reinforces his value system by focusing on feeling good about himself, having a good marriage, getting better, and learning something new.
  • Beliefs and value systems are created subtly from childhood and can govern a person's perception of what is worthy of respect.
  • There is no amount of success big enough to stand in forever, and success should not be the sole focus of a person's value system.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 009

Brain Plasticity and Learning

  • Tom's breakthrough came from reading about brain science and understanding brain plasticity.
  • He realized that the average human is designed to get better and that he could get good at something tomorrow even if he was not good at it today.
  • Tom's success is a result of his focus on being a learner and his willingness to admit what he was not good at.
  • Tom emphasizes the importance of sitting at somebody's feet and learning something new.
  • Learning and growth are fundamental to the human design.
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Choosing Beliefs and Taking Action

  • Tom emphasizes the importance of personal responsibility and choosing beliefs that align with taking action towards success.
  • Tom realized that he was pursuing something that was not aligned with his personal goals and values, and he was able to separate himself from his ego and understand its role in decision making.
  • Tom emphasizes the importance of understanding the game you are playing and the stakes involved.
  • Success can change a person's life, but it should not be the sole focus of a person's value system.
  • The only thing that matters is how a person feels about themselves when they are by themselves.
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Personal Responsibility and Choosing Beliefs

  • Success doesn't guarantee happiness.
  • Self-respect needs to be earned every day.
  • Choosing what to value determines how one feels about oneself.
  • What one allows oneself to repeat determines the quality of life.
  • Belief system is important in achieving success.
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Anxiety and Diet

  • Stopping drinking sugar-free monster helped reduce generalized anxiety disorder.
  • High stakes situations can still cause anxiety.
  • Meditation helps interrupt rumination and focus on success.
  • Rehearsing success can reduce anxiety.
  • Diet is the biggest problem in anxiety.
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Obsessive Mind and Success

  • Obsessive mind has led to success by thinking about problems all the time.
  • Rumination can cause anxiety.
  • Interrupting rumination is important in reducing anxiety.
  • Meditation is key in dealing with anxiety.
  • Forcing oneself to focus on rehearsing success can reduce anxiety.
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Personal Perspective on Anxiety

  • Anxiety can happen to anyone.
  • Reflecting on how many people in society feel anxious questions the way we live our lives.
  • Diet is the biggest problem in anxiety.
  • Reducing anxiety by 70% through diet alone is possible.
  • Remaining anxiety still needs to be addressed.
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Adjusting Belief System

  • Tom had to insert himself into his ruminating thoughts and be thoughtful about it.
  • He had to adjust his belief system so that he's not afraid of failure.
  • Living in the social media era is amazing, but one has to be careful.
  • People have to be psychotically careful about what they allow themselves to value.
  • Tom values achievement, but he has to be careful not to let it damage his sense of self.
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North Star for Optimizing Human Life

  • There is a north star for optimizing a human life.
  • For Tom, it's reducing suffering and elevating the individual to fulfillment.
  • Helping others do the same is also important.
  • These are the cocktail for the most resilient mental state.
  • Optimizing for lifestyle, beliefs, and thought patterns come after pursuing these two things.
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Social Media and Anxiety

  • Removing social media would remove a tremendous amount of anxiety.
  • Feedback about success and achievements causes anxiety.
  • Comparison is another reason why social media causes anxiety.
  • Human design was probably meant to deal with a small tribe, not billions of people on a phone.
  • Putting out a tweet or hot take that matters to you will not be universally loved.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 021

Web3 and Mental Health

  • Web3 is going to be more devastating to mental health than web2 and social media.
  • Money is on top of all the things in web2, making it worse.
  • People are investing more than they should, making it incredibly stressful.
  • Creators will be destroyed because they have obligations and it's not fun anymore.
  • Most people won't have the tools they need to grapple with it.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 022

Ingredients for Fulfillment

  • Fulfillment is achieved by working hard to acquire skills that matter to you and allow you to elevate yourself and others in service of an exciting and honorable goal.
  • The goal must be exciting and honorable, meaning that you are passionate about it and want to use it to help others.
  • When you hold yourself accountable to this goal, you will feel fulfilled even in moments of unhappiness.
  • Fulfillment gives you the emotional resilience to push through difficulties and frustrations.
  • You must have something you are fighting for in order to withstand external criticism and stay motivated.
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Dealing with External Criticism

  • Dealing with external criticism is a challenge that comes with being in the public eye.
  • When Tom first started making content, he was unsure if he wanted to continue due to the criticism he received.
  • Tom wrote an article about personal responsibility and was surprised by the negative response he received.
  • Despite the criticism, Tom continues to hold himself accountable to his goals and beliefs.
  • When dealing with external criticism, it is important to stay true to your beliefs and hold yourself accountable to your goals.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 025

The Dangers of Crowdfunding

  • Crowdfunding allows people from all over the world to invest in projects and give feedback.
  • However, many creators are not equipped to handle the stress and pressure that comes with running a business.
  • Projects can implode if the creator is not able to deal with criticism and negative feedback.
  • Some creators have ill intent, but most are simply not knowledgeable about running a business.
  • Crowdfunding can be a dangerous tool if not used properly.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 026

The Importance of Personal Responsibility

  • Personal responsibility is the key to success and fulfillment.
  • You must hold yourself accountable to your goals and beliefs in order to achieve fulfillment.
  • Personal responsibility allows you to take control of your life and make positive changes.
  • When you take responsibility for your actions, you are able to learn from your mistakes and improve.
  • Choosing beliefs that align with taking action towards success is crucial for personal responsibility.
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The Importance of Personal Responsibility

  • Tom Bilyeu believes that personal responsibility is a timeless set of ideas that can help people succeed.
  • Zip code is the number one predictor of future success in the developed world.
  • Tom Bilyeu hopes to embed these ideas in his stories, writing, and on-camera work.
  • Social media and web3 allow Tom Bilyeu to reach more people than ever before.
  • However, putting out content that comes from a good place can still result in negative reactions.
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The Value of Personal Responsibility

  • Tom Bilyeu believes that personal responsibility is both true and optimistic.
  • People's belief systems and value systems can lead them to reject personal responsibility.
  • Rejecting personal responsibility can be perilous.
  • Personal responsibility is about remembering that you can do something and change.
  • Kobe Bryant's quote "boos don't block dunks" sums up personal responsibility.
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The Power of Personal Responsibility

  • Dedicating time and energy to something can make you better than the vast majority of humanity.
  • Personal responsibility has made every single person's life better.
  • Some people don't embrace personal responsibility because they get value out of being in a helpless position.
  • People who adopt a victim mentality feel disempowered and are in a dark place.
  • Adopting personal responsibility can make your life 100 times better.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 032

The Importance of Optimism

  • Having a bias towards optimism and personal responsibility has solved many problems.
  • When you feel like a victim, the world will rally to your side, but it does not feel good when you are by yourself.
  • People who adopt a victim mentality are getting huge emotional rewards from the crowd.
  • Denying the emotional rewards of being embraced for something that really sucks would be foolish.
  • People who have the deck stacked against them can make their lives 100 times better.
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The Link Between Personal Responsibility and Self-Esteem

  • Admitting personal responsibility can be seen as evidence of further inadequacy for people with a lower sense of self-worth.
  • Building your identity around having the deck stacked against you can be detrimental.
  • Personal responsibility can help improve self-esteem and lead to a better life.
  • Choosing beliefs that align with taking action towards success can help improve self-esteem.
  • Believing that you can get better at something with time and energy can be liberating and life-changing.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 034

The Joy of Seeing People Succeed

  • Tom Bilyeu is wired to love other people winning almost as much as he loves winning himself.
  • Seeing people make their lives 100 times better brings joy to both the person and Tom Bilyeu.
  • People who embrace personal responsibility can make their lives 100 times better.
  • There is a lot of momentum around the idea of personal responsibility.
  • People who adopt a different value system can still make their lives better, but not to the same extent as those who embrace personal responsibility.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 036

The Importance of Personal Responsibility

  • Choosing beliefs that align with taking action towards success.
  • Embracing personal responsibility to acquire skills and become capable of more.
  • Rejecting being in the victim category, even though it may be valid.
  • Understanding that skills have utility and can lead to monetizable benefits.
  • Contributing to the group as a social animal is hardwired in our brains.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 037

The Rewards of Personal Responsibility

  • Accumulating skill sets that allow you to do things better than others.
  • Living in a reality where you can accomplish things that others cannot.
  • Having a narrative that is true allows your predictive machine of a brain to predict how to change the world to what you want it to be.
  • Power is the ability to close your eyes, imagine a world better than this, gain the skills you need to make that world come true.
  • Acquiring skills requires taking responsibility and rejecting being in the victim category.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 038

The Third Way

  • There are three paths before you: remain the oppressed, become the oppressor, or find a way of unity.
  • Nelson Mandela's story of finding the third way and refusing to be in the victim category.
  • Building from what happened and finding a way of unity is the most powerful way to move forward.
  • Intoxicating idea of finding the third way and building unity.
  • Cultural momentum on the other side can make it difficult to embrace personal responsibility.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 040

Taking Risks and Finding Support

  • Taking risks is crucial for small business owners, while complacency and comfort-seeking can harm success.
  • Vodafone Business offers free one-to-one sessions with V-Hub digital advisors to help small business owners take risks and move forward.
  • Crafted jewelry is a sponsor of the podcast and offers affordable, meaningful pieces that hold tremendous meaning and are well-made.
  • Questioning the rebuttal that personal responsibility is a privilege of mindset and acknowledging the importance of rejecting victimhood.
Tom Bilyeu: From Broke & Sleeping On The Floor To A $1 Billion Business | E146 041

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