The Inventions Show
The Inventions Show
EP4: JT Foxx, Serial Entrepreneur. Turn your Weaknesses into your Strengths.
Turn your weaknesses into your strengths with JT Foxx, the World's #1 Wealth and Business Coach, Serial entrepreneur, Best Selling Author and Private Equity Investor. JT shares how some of the world's biggest companies such as Airbnb, Snapchat Uber and Instagram (just to name a few) all started and why the world needs constant inventions and reinventions. What drove him to create MillionaireFlix; Feed your brain with TV to watch that will make you more money, give you more amazing ideas and get more excited about life & business!
"Those who are crazy enough to change the world are normally the ones who do" ~ Steve Jobs
There are over 4000hrs of content on MillionaireFlix with over 50 courses and originals on Sales, Branding, Growing your business, Negotiation, Marketing, Property, Networking, Overcoming your Fears, Motivation, Buying and Selling Businesses and plenty more all on the one platform. Growing continuously with listeners from over 90 countries, new content is added every day.
I am honoured to be affiliated with MillionaireFlix. Be sure to check it out
https://millionaireflix.com/affiliate/tack
Subscribe to the channel and share it with friends that will benefit from these type of content. Thank you 🙂
This is episode number four with JT Foxx.
Intro:Music
Tack Lee:Hi everyone. Welcome to the inventions show. A podcast, a show that covers all things, invention and reinvention in life and business. My name's Tack Lee entrepreneur, international property investor, inventor and the host of this show. Okay, let's get into it, now today I've got a very special guest and I'm very excited to have him on the show, the one and only heavy weight champ JT Foxx, serial entrepreneur, and the world's number one wealth and business coach. So welcome JT. Thanks so much for being with us.
JT Foxx:Thank you. Thank you. I love the concept of the show because you know, inventions are, especially in these times. I don't know if you know that, but Airbnb, uh, Snapchat, Uber, Instagram, just to name a few, were all companies started after the 2008 crash. And now you might say of those inventions that they are, the concept was invented. Uh, they were, and they were started at the worst possible time. Now that'd be very interesting to see what comes out of this next phase as we are in a pandemic. Very excited about your show. It's a great concept that there's so many people with great ideas that need the platform. So congratulations.
Tack Lee:Thanks. Great. Now the fist question I'd like to ask all my guests is for those who are not familiar with yourself, can you please give us like a minute window into your background and life story.
JT Foxx:World's number one wealth and business coach, serial entrepreneur, best selling author, private equity investor started over 10 years ago with$974 went down to negative 34,000. And then now we are in 54 different countries, clients at 91, and I've got businesses literally all over the world, but my biggest claim to fame is I know Tack and his wife.
Tack Lee:Thanks JT, much apperciated. Now I first saw you stage, probably about, my wife and I about two years ago. And we've been captivated since and been following you since then. You seem to be able to step things up over and over again, and to reinvent yourself or something such as MillionaireFlix. I mean, where does your ideas, creativity and drive come from?
JT Foxx:I mean, growing up my parents call me lazy so that's kind of interesting. That's always kind of been in the back of my mind for some reason, but I don't know. I have this drive to win in life, to win a business, win in everything I do and I don't like disappointing people and I wake up and I say, you know, how can I make this better? How can I be number one, whether you're putting an invention or you're starting a business, your ability to go out there and say, I need to change the world. And I want to make, and by the way, the world could be one person at a time, but I want to make this planet a better place than when I first got here. And once you add this notion and it's not money, some people change the world in different fashion, but without the risk of inventors and inventions a lot of things wouldn't be created. Those who are crazy enough to change the world are usually the ones that do, that's what Steve jobs did. And that's what a lot of people I'm sure you'll have on your show or have done previously. I mean, what Elon Musk is doing, if you get him on the show, call me.
Tack Lee:Will do Will do, working on that JT working on that JT. Now I was just wondering if you can't tell us the idea behind MillionaireFlix. I mean I think everyone should have it. I've got it. It's such an amazing platform. So what's the idea behind that and how'd you come up it?
JT Foxx:Well, if I didn't do it, somebody else would, that was the first platform. And also to Tony Robins specifically, right? Because obviously him being an A list speaker in the industry, and so I said, I'm going to do it before they do it. And I start started seeing some fatigues of people wanting to buy$5000 courses and stuff like that. And the problems that I had so much content that I was producing, but you can't sell it. There's only so many buyers of your clients that are going to keep buying. It's like, you know, some people just won't buy the new iPhone because there's not much difference. I already got the other one, even though this is different. And so there started being a plateau. And so I said, you know what? Let's just give every program for$20. They click on your link and get it. But you know, the idea was, and it was interesting. Cause I was looking at the cancellations this month, we're less than 2%, which was shocking. And of the 2% it's either credit card fails or they never opened it. I mean, that's so low with it, especially in this pandemic times, cause people are consuming. I was shocked by the number cause I expected a lot of, because of the times we have, but if it was 97, I would have seen record cancellations. So the pricing strategy of every program for$20, 31 different programs, 4,000 hours. So, um, it was kind of like, it was Apple co-founders said to me, nobody wanted jobs to do the iPhone at first because it was going to kill the iPod, but he said, if I don't do it, somebody else will. And that's that story that said to me one day, I'll just do it. We lost a lot of money in the short term, but in this pandemic I think my brand and all the engagements has really grown.
Tack Lee:You're a great man. Now can you share or what do you think has been your biggest challenge or like a failure to date just for everyone to know.
JT Foxx:You know, it's hard to regret anything I have done. I mean for a long time, I said maybe I should have taken bigger risks after 2008, big, bigger deals, bigger risks, but then right now it'd be hurting. So I don't think there's anything to be honest I would do differently because I've had a coach at every step of the way, just like you are the expert. I have experts because those are the people that, you know, I, you know, I don't know. I just, it's hard to seek to say. I think whatever it is, I tell people you're allowed to fail once. Just don't repeat your same mistake twice. And as an inventor, they need to fail 99 times. You just need to get right once? I mean, Google has 18,000 engineers all over the world that just produce all kinds of ideas. And if they just have one product that turns into a billions and they'll do it, but most ideas don't turn into anything. You have to be willing to fail to succeed.
Tack Lee:Most Definitely. Now, thanks for that. Now, if you could look back at everything in your life, JT, is there like a certain breakout point in your life where you can go? Yes. That's the point where everything changed?
JT Foxx:My first coach, um, gave me the clarity, told me what to do, what not to do. And then I did it. For a long time I was too afraid of like, Oh how much it costs rather than how much it's going to make. Too many people trying to do it themselves. That to me, was the big lightning moment.
Tack Lee:Okay. Yeah. Well said, well said. Now in interesting times like this, you know, what is your advice or message of positivity for our listeners? I mean people at home, there's lots of free time. What should people be doing right now? So, you know, to make sure that they come out punching,
JT Foxx:Reinventing themselves, turning their weakness into their strengths, looking at every systems, procedures, getting rid of bad habits, um, reinventing themselves, their business model. This is their second act. This is your second chance. And about 60 days ago, everybody was complaining, Oh, it's hard to find the deals. It's hard to find the opportunities everything's overpriced at Australia. You know, in America hard to find, well now everything is on discount. The opportunities a re lifetime buying and sell businesses a nd real estate t aking over competitors. So now people can't complain. Now this is, this is, this is my second chance a t my 2008. And now is where I'm g onna t o take some of the biggest r isks i n my life because some of the greatest deals o f my life are popping up now.
Tack Lee:Oh, that's awesome. So now how do people know when it's time to reinvent themselves or their business? Is there, what are the triggering factors that people should look out for or they should know? Is it like a gut feeling type of thing or, or what, what would you say?
JT Foxx:I mean, I think who you spend time with is who you will become, I think part of the problem in Australia and other places in the world, there's tall poppy syndrome. I think you have to remove the negative in your life and you can't live anybody else's life. You either go big or you go home, but no one's going to give you anything. Success is not easy. Nothing's easy.
Tack Lee:Love that saying, love that saying. Go big or go home, or go bigger!
JT Foxx:Well, I like to go where you want to look at that house. You have. It's all very nice and proper and white. It's very impressive. Very impressive. Maybe I'll just remove my background just for you. I just removed my background just for you. It looks like it's a fake one, but it's not.
Tack Lee:Looks good. Looks good. Alright. Just a couple more questions JT. Now what super power do you wish you had?
JT Foxx:I mean, I can read people. I look at people. I know what they're saying, what they're thinking. So I've that power. I have a photographic memory that I've coached myself. I speed read, so I already have a lot of power. Um, you know, I, I just, whatever I'm not good at, I try to be the best at, so I turned my weakness into my strength. So I guess if I fly, I wouldn't have to get coronavirus on a plane. That would be a good one right now as well. I think, I truly believe at this point, it's one thing. This coronavirus, is that all the sacrifice I've made have been worth it because I've made a place that I'm not freaking out, but I'm still working very hard. And I'm leading by example. I think the superpower I have is if I could just translate it to everybody, watching here, people like you and you have the super power, people were really like you and impressed by you and they need to connect with you.
Tack Lee:Awesome. And what would be the theme song to your time in quarantine be?
JT Foxx:Uh, yeah, I mean, that'd be like, start, start, start me up by the rolling stones. Can't wait to start it up!
Tack Lee:Now we have to work towards wrapping up JT and I'm super mindful of your time. Incredible conversation, appreciate your honesty and openness. Just two last questions. First is where can people find out more about yourself? And secondly, what parting words of wisdom would you like to share for anyone that's watching or listening that either went to launch a business or just about to launch something that they've been working on for a while?
JT Foxx:Um, well, number one, if they want to reach me, they can reach to you since you and I are BFF. Connect as well because you and your wife are just very good friends of mine. Uh, second of all too, listen, if it's meant to be it's up to me, stop procrastinating, stop sacrifices, go out there and make it happen. You don't live once you live every single day and you die once, and when you want to succeed as bad as you want to breathe, you got that fire to make a difference, your invention to change the world or your possibility, your words, or your actions or your business that can make a difference. Business is a game. You don't do it for the money. Money's how you keep score. Play the game, live life at its fullest. How's that.
Tack Lee:That's awesome. That's awesome. Amazing JT. And uh, thanks again. I really appreciate it. So yeah, I mean with what you're doing now, it's totally amazing. And I can't wait to follow you for a long more time to come.
JT Foxx:Well. You're amazing, you and your wife are a good friend and I'm glad I got a chance to inspire your audience.
Tack Lee:Thank you. Thank you. Alright guys. So I hope you enjoyed this interview. Uh, you can find me on social media and yeah. Thanks for listening. And I'll see you guys in the next episode. Cheers. See ya.