$400M Exit at 28 Years Old - Tobi Pearce #55

Tobi Pearce left home at 16 and was making a few hundred thousand a year as a personal trainer at 19, which is when he stopped pretending the commerce and law degree mattered. He now has the founders he works with build a personal profit and loss statement, and says nearly all of them come out of it needing far less money than they assumed.

Tobi Pearce built and sold a fitness business he now describes as his apprenticeship. He invests and works with founders, and this conversation is almost entirely about how he thinks rather than what he built.

What you will learn:

- The personal P&L: income, operating expenses, fun expenses, and the number almost nobody has actually sat down and worked out

- Why he says the belief that made him money in his twenties was unsafe code, and how he went about debugging it

- Objective based learning against just learning, and why "reading marketing books" is not a plan

- Why he deliberately took up two things he was bad at, and got choked unconscious in his first class

- Would you rather be rich or right: the question he puts to founders who are certain they are correct

Chapters

00:02 Intuition against rational decision making

03:31 Why most founders tell the story more neatly than it happened

07:14 What strategy actually means, and why most people cannot define it

10:48 Why writing a vision statement makes people anxious

19:21 The answer to most questions in business is, it depends

23:10 The maths on living off a portfolio, and what the returns actually are

26:50 Whether he could do it again, and why he calls it his apprenticeship

30:43 Objective based learning against just learning

33:09 Why Michael Jordan is the argument, not the exception

36:41 You cannot be anything you want, and why that is liberating

38:27 What he was taught at home about money and worth

41:55 Code written twenty years ago, and how to debug it

44:57 How much money do you actually need to survive

47:04 The personal P&L, line by line

52:15 Work life balance, and the question sitting underneath it

55:49 We reward outcome, not effort

01:01:01 Taking up jiu jitsu and snowboarding to start losing again

01:04:26 Why the approach to learning outvalues everything else

01:06:09 Rich or right, and the question he asks himself

Tobi Pearce backs businesses that compound without him. Property should work the same way.

Most properties only make money if the market does. The ones that pay for themselves from the day you settle are bought differently, and it comes down to four points.

Get the free guide: https://go.bothsides.au/score

Bothsides:

◼️ The weekly email - https://bothsides.au

◼️ Bothsides Buyers Agency - https://www.bothsidesbuyersagency.com.au

◼️ Dan - https://www.instagram.com/daniel_beardall/

◼️ Watch on YouTube - https://www.youtube.com/@bothsidespodcast

General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.