#98 Rich People Think Differently.

Summary

BigDeal Podcast Episode #98 Summary

Title: Rich People Think Differently
Host: Codie Sanchez
Guest/Featured Speaker: Tony Robbins
Release Date: October 13, 2025

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Overview

This episode of BigDeal, featuring insights from Tony Robbins, dives deep into how wealthy and successful entrepreneurs think and operate differently from the average person. The discussion centers on the practical tactics, mindset shifts, and business strategies that separate high-performing, high-net-worth individuals from the rest. Codie Sanchez and Tony Robbins focus on actionable steps to grow a business, how to break into higher financial echelons, and the importance of tracking, pricing, and building relationships. The conversation is candid, fast-paced, and mixes humor with hard truths, offering listeners rare behind-the-scenes access to entrepreneurial thinking.

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Key Discussion Points and Insights

1. The Importance of Avatar Analysis (Identifying the Right Customer)

Timestamp: 01:27-02:30

• Tony emphasizes the absolute necessity of knowing your customer ("avatar") intimately.
• Cites giants like Amazon, Meta (Instagram & Facebook) as masters of understanding what people want—sometimes better than their own families do.
• "If you do not know who you are selling to...you're in the wrong business." (Tony Robbins, 01:41)
• Successful companies don't just identify, but obsess over their customers to anticipate needs and create tailored offers.
• Tony’s controversial stance: "I actually don't believe in sales." Instead, great business is about finding customers already predisposed to wanting your product.

2. Pricing Strategy and Revenue Optimization

Timestamp: 03:01-03:30

• Most business owners underprice their offerings, missing out on significant revenue.
• "More often, businesses are underpriced by anywhere from 30% to 300%." (Tony Robbins, 02:57)
• Encourages offering multiple pricing options—there are always superfans who will pay much more.
• Challenges the idea that lower pricing is better for growth.

3. Building the Right Team: "Cheetahs vs. House Cats"

Timestamp: 03:27-04:10

• Tony uses a vivid analogy: you want to hire "cheetahs" (high-performers), not "house cats" (complacent).
• "The number one thing about hiring I've realized, is if you aren't good, how are you going to attract good talent?" (Tony Robbins, 03:33)
• Advocates for self-development as a prerequisite for building a strong team.
• Recommends leveraging communities and learning from others—"steal somebody else's 10,000 hours."

4. Mindset and Metrics: How Rich People Track Success

Timestamp: 04:14-04:44

• Eight-figure entrepreneurs are easier to help because they have more resources and can make dramatic changes with small tweaks.
• Instead of just setting goals, the wealthy focus relentlessly on tracking the right metrics.
• "Don’t tell me what your goals are. Tell me what you’re tracking." (Tony Robbins, 04:32)

5. Surprising Businesses – The Power of "Boring"

Timestamp: 04:44-05:00

• Not all big-money businesses are flashy; example shared: a woman running a nine-figure feed business for milk cows.

6. Radical Transparency: Why Tony Shares "Secrets"

Timestamp: 06:06-06:55

• Tony rails against the gatekeeping of business know-how.
• "I believe we should have more ownership in this country...all the big guys who have figured this out refuse to teach anybody anymore." (Tony Robbins, 06:17)
• Critiques the drop in ownership rates, blaming secrecy and a reluctance to teach "0 to 1" business growth.

7. Event and Networking for Serious Entrepreneurs

Timestamp: 06:55-07:51

• Announcement of an event in Austin, Texas, bringing together builders, investors, and operators.
• Emphasis on hands-on, intimate networking—not just a typical conference.

8. Metrics that Matter: Balancing Qualitative & Quantitative

Timestamp: 08:11-09:52

• Debunks the idea of a single "North Star" metric; steering a business requires balancing both quantitative and qualitative goals.
• "If all I do is have one North Star AKA one left oar, what happens? You go in a f*cking circle." (Tony Robbins, 08:35)
• Warns against the obsession with followers and notoriety; long-term value lies in tangible business metrics and client results.

9. Content Creation, Media, and Notoriety

Timestamp: 09:52-10:54

• Discusses the pitfalls of building a personal brand as a business—can lead to burnout and low enterprise value.
• Advises against going "pure social media marketing" for B2B, and cautions about chasing fame for fame's sake.
• Shares a memorable paraphrased quote: "People go, man, I want to be rich and famous. Like, take rich. You know what I mean? Famous is not going to make you happy." (10:51)

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Memorable Quotes

• "If you know them well, you can sell them more things at the exact moment that they want to be sold. And so they will thank you for taking their money. That is actually how business should work."
  — Tony Robbins (02:12)

• "More often, businesses are underpriced by anywhere from 30% to 300%."
  — Tony Robbins (03:01)

• "You got to level up before you can get A players to choose you."
  — Tony Robbins (03:33)

• "Don’t tell me what your goals are. Tell me what you’re tracking."
  — Tony Robbins (04:32)

• "All the big guys who have figured this out refuse to teach anybody anymore. And then they shame anybody who does teach it because they don’t want you giving away the secrets. And I think that's a tragedy."
  — Tony Robbins (06:17)

• "If all I do is have one North Star AKA one left oar, what happens? You go in a f*cking circle."
  — Tony Robbins (08:35)

• "People go, man, I want to be rich and famous. Like, take rich. You know what I mean? Famous is not going to make you happy."
  — Tony Robbins paraphrasing (10:51)

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Notable and Light Moments

• Casual and humorous exchanges, e.g., Tony joking about not being cool enough for a walkout song (01:36).
• Surprising business anecdotes, like the nine-figure cow feed company (04:44).
• Unexpected asides, like Tony’s fascination with color-changing lizards in Miami (07:51).

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Timestamps for Major Segments

• 01:27 – Avatar Analysis: How to know your customer
• 02:57 – Underpricing and maximizing revenue
• 03:27 – Hiring strategy: "Cheetahs vs. house cats"
• 04:14 – Difference in mindset: Goals vs. tracking
• 04:44 – Surprising nine-figure businesses
• 06:06 – Why Tony teaches business "secrets"
• 06:55 – Networking event details
• 08:11 – Balancing metrics in business
• 09:52 – Pitfalls of content/creator business models

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Conclusion

This episode is a masterclass in high-level business thinking, deconstructing how "rich people think differently" across hiring, pricing, metrics, branding, and strategic focus. Codie Sanchez and Tony Robbins cut through the myths and share direct, sometimes blunt lessons that most business education leaves out. If you want to think and act like the top 1%, this conversation is packed with actionable tactics and hard-won wisdom.

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Transcript

[Tony Robbins]

You're about to make a trade which you do, you listen to, is it get optioning those options or let's do a little research.

[Event Host]

Learn [e-mail] TradeSmart I'm taking you behind.

[Tony Robbins]

The scenes so you can be in a room with eight and nine figure entrepreneurs to learn how do you sell things to rich people so you can make more money. We're gonna break that down exactly. And I'm gonna tell you things that most people have to pay a lot of money for. All right, so today we got a room full of seven and eight figure entrepreneurs all here for. Are they able to double their business inside of one year and can they do it in 48 hours?

[Interviewer]

Where are we right now?

[Tony Robbins]

Miami. I want to do more showing and documenting as opposed to creating. Like we're not a traditional business creator in the fact that I run a bunch of businesses so I'm not just talking on the Internet about stuff that I'm doing. We run a holding company, we have a venture capital firm. We own one of the fastest growing trade franchise companies. I try to squeeze as much time out for companies content as I can, but I don't have a ton. And so if there's a chance for me to actually just talk about what we're doing and people can see it live as opposed to yap on the Internet, I'm into that. What happens when you get in a room with a hundred other people who are building businesses, seven, eight and even nine figures. You realize that there's three things in business that you need to nail or you'll never make any money.

[Ad Voice]

What's up?

[Tony Robbins]

Thank you. Can I trade you? What's up, man?

[Event Host]

Hey, Tony.

[Tony Robbins]

I didn't know you were going to be here. I'm so glad. And the first one is, do I even have the right customer? We call this avatar analysis. What's going on guys? How's it going? Shannon was so funny this morning. She's like, I have such a good song. Can you just wait a minute? I want it to play and like you to walk out to this and then that's that song. I'm like, I'm not that hard. Like, this is. That's so cool. I'm not cool enough for this song. If you do not know who you are selling to and you do not realize that the person you are selling to has to want what you're selling not to be sold what you're selling, you're in the wrong business. Do you know why Amazon is one of the most valuable companies in the world. They know you. How about Instagram and Facebook? Why is meta so valuable? They know what I want to buy better than my husband does. They nail their avatar so perfectly that they can create multi, multi billion dollar companies. So I do not want you to set this and forget it. I want you to obsess upon the person that you sell to. Because if you know them well, you can sell them more things at the exact moment that they want to be sold. And so they will thank you for taking their money. That is actually how business should work. So we do an entire system on can I find somebody who is already predisposed to want what I am selling? I actually don't believe in sales. All right, thanks everybod. You've got a marker on your chin.

[Event Host]

Oh, good.

[Tony Robbins]

It's fine. Keep going. Where are we going? Sup, dude? What's going on, crew? Second, you gotta nail your pricing. So most people underprice. They also don't have multiple options because there are always about a thousand true fans you have who want to pay you. More often, businesses are underpriced by anywhere from 30% to 300%.

[Event Host]

Why?

[Tony Robbins]

If somebody wants to give you more money, wouldn't you give them a shot at doing that? Anyway, we teach them how to do that. So I want you guys to take like five minutes. Oh, sick. Yeah, leave it at the floor, my little gremlin. This is mine, right? What are you doing here? Oh, they're. Oh, they're working on their breakout. Okay, you got an anor, you got a cookie, you got a laptop market a galvani.

[Event Host]

No.

[Tony Robbins]

And then the third thing is hiring what I call cheetahs versus house cats. Both cats. Right, but not equal. One of them you really want on your side when you're chasing down big prey, when you're hunting things. And the other one is sort of snuggly. But Matt, the number one thing about hiring I've realized, is if you aren't good, how are you going to attract good talent? You got to level up before you can get a players to choose you. The number one thing you can do to become better at hiring is become better yourself. That's why we have communities where we teach people how to become leaders and business owners. Because I like to steal somebody else's 10,000 hours. Where are we going? Oh, there's an elevator.

[Event Host]

Right.

[Tony Robbins]

Okay, Liz.

[Interviewer]

Tell me what the difference between your relationships with the people in the eight figure room and the other room are.

[Tony Robbins]

Eight figure entrepreneurs are really easy to help, actually. Why? Because when you have more money and more resources. If I fix one thing in your business, it's very easy for you to get a seven figure return on your time. I think a lot of times, what do we obsess on?

[Event Host]

Goals.

[Tony Robbins]

Right? I always say, don't tell me what you want to get. Tell me what you're willing to give up. And I think in business it's, don't tell me what your goals are. Tell me what your tracking.

[Interviewer]

Are there any people in that eight figure room that run a business that you think would shock people, how much they're making from it?

[Tony Robbins]

Yeah, there's a woman in there that has a feed business for milk cows that does nine figures. You don't put a GPS in your car and go, maybe, I don't know, we might make it, we might not. You're like, no, no, we're gonna make it. Because I'm tracking the right things. It's so much easier just to grow big businesses. Like, I could just keep doing that. But trying to show people how to go from zero to one, hands down, the hardest thing that I do.

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[Tony Robbins]

Conditions apply that I'm an idiot that believes in something, which is that I believe we should have more ownership in this country. It's what I think people need help with. It's also what we get on the most on the Internet because everybody loves to say reasons why something won't work. And I'm like, I'm just trying to show you that it's possible. You can. They don't teach small companies how to do this. And I think that is broken. I think that is why we went from 80% ownership down to 6. Because all the big guys who have figured this out Refuse to teach anybody anymore. And then they shame anybody who does teach it because they don't want you giving away the secrets. And I think that's a tragedy. It's way easier to just be quiet, only help rich people build big businesses and never focus on 0 to 1. But I just think that's selfish.

[Event Host]

Hey you.

[Tony Robbins]

Do you want to come to an.

[Event Host]

Event just like this? I've got you covered. We're throwing our biggest ever in person event right here in Austin, Texas. It's called Main street over Wall Street. MSOs for short. And it's where the best builders, buyers and investors come together. You'll meet billionaires who built empires with boring businesses. Investors ready to find you operators looking for partners and buyers and sellers for just about any type of business. You'll rub shoulders with Navy Seals and garbage men and SBA staffers whose whole career is dedicated to supporting business owners and future business owners. This is not a conference, it's a call to arms. And if you're not the type of person that likes to go around and make new friends, don't worry.

[Tony Robbins]

We've got all these like private little.

[Event Host]

Workshop style intimate moments where you can even meet people face to face. And we'll help orchestrate it. So if you're ready to buy a business, build a business or learn about small business, get your tickets. They actually go up next week. We're about 90% sold out. So we'll see you in Texas.

[Tony Robbins]

Do you know there are lizards here that change colors? This is totally unrelated.

[Interviewer]

I did not know that, you big reptile person.

[Tony Robbins]

I'm a big animal. Dude.

[Interviewer]

I was listening to you on the phone yesterday. You were Talking about a YouTube video, man.

[Tony Robbins]

Our audience really does not like cinematic up front. They want the numbers and whatever.

[Interviewer]

What's it like having to wear not only an entrepreneur entrepreneurs have but also thinking more about the creative side of things.

[Tony Robbins]

It's my favorite part right now. I've just done finance and investing and running businesses for so long, but I'm pretty new at media. Contrarian thinking the media company has revenue as its main goal. Very easy for employees to understand. But it also has followers. Why? There's a big mistake, I think in business building. Haven't you heard a lot where people say that you should have one North Star metric? If you follow your North Star, you'll win. And I think that's why so many companies fail in order to steer a boat. If all I do is have one North Star AKA one left oar, what happens? You go in a F cking circle. But if I have two oars, which is a left qualitative and a right quantitative metric, it feels a little to the left and it feels a little to the right. But you are going straight. How annoying would I be if I was on the Internet every single day just telling people to give me money to invest in companies? Sell me your company. If I was spamming every single day, I could make a lot of revenue. I could probably triple our revenue, but my follower base would suffer and so I would hurt my long term growth prospects of the company. So that's my collar. Simultaneously, if all I obsessed on was followers, well, we'd go out of business because we wouldn't make any money or we'd be only fans or because we would just be racing to number of followers and that's it. So you need a metric that kind of collars the two this generation. A lot of people want to have more notoriety online and I totally get that. I mean I'm online and I think there's massive of value to it. But that part to me is not a real business. What benefit do you have if a video gets a million views across the country? You're hyper localized. You'd much rather that you were on a local television segment or something that your target demographics saw. My main channel is my podcast for getting clients. What is my next step like? I'm thinking getting 10amazing guests by the.

[Ad Voice]

End of the year.

[Tony Robbins]

And by 10amazing guests you mean 10 of your clients who you have made money. Oh, right. Well, that's a good one. That would be better because let me tell you why. If all you do is get 10amazing guests, say I get on your podcast and I'm like, well, I've got Alex Cooper on, she's one of the biggest names out there. Joe Rogan on, I've got whoever on the podcast. Do you think your conversion will be higher with those people or would your conversion be higher with somebody who you made a million dollars nailed? Your avatar was exactly in your niche and you have a B2B business for a B2B business. I would never go pure social media marketing in a billion years. You do not want your life and your face and your lifestyle to be a business. It has terrible enterprise value. Meaning you can't sell yourself as far as I know. Two, you're getting yourself a job, even maybe a fun one, not a business. And three, people go a little zany when they get too well known. Just be careful what you wish for. And I can't remember who it was. It was a famous actor.

[Ad Voice]

People go, man, I want to be rich and famous. Like take rich. Yeah.

[Tony Robbins]

You know what I mean?

[Ad Voice]

You know, famous is not not going to make you happy.

[Interviewer]

I think that was Ben Affleck.

[Tony Robbins]

Was that Ben Affleck? Have you guys ever heard Ben Affleck speak in Spanish? Incredible. He talks like my family does. Anyway, just be careful about going after notoriety alone. Get that cash first.

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[Tony Robbins]

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[Ad Voice]

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[Tony Robbins]

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[Ad Voice]

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[Tony Robbins]

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