Join host Steven Pesavento as he explores the power of self-belief and its impact on personal and professional success. In each episode, Steven brings on inspiring guests, such as renowned entrepreneur Evan Carmichael, to discuss their journeys, share valuable insights, and provide actionable strategies to help listeners develop unwavering self-confidence. Whether you're looking to start a business, pursue a passion, or overcome obstacles, this podcast will guide you towards embracing your true potential and achieving your goals.
Resources Mentioned
Interested in connecting with other like-minded individuals? Then join our VonFinch Private Capital Network. Learn more at http://www.vonfinch.com/invest.
About our Guest:
Evan Carmichael is a renowned entrepreneur and motivational speaker. He has built a massive following on YouTube by sharing the wisdom and success stories of notable figures such as Oprah Winfrey, Steve Jobs, and Elon Musk. Evan is dedicated to empowering individuals to believe in themselves and achieve their goals. With over two decades of experience, he continues to inspire millions through his content, coaching, and motivational speeches.
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00;00;03;24 - 00;00;09;26
Steven Pesavento
So welcome back to the Investor Mindset Show. I'm excited today. I've got Evan Carmichael in the studio. How you doing today?
00;00;09;26 - 00;00;12;25
Evan Carmichael
Evan I'm great. Stephen Thanks for having me, man. Excited to be here.
00;00;13;10 - 00;00;30;08
Steven Pesavento
Yeah. Evan you're you're an incredible man who is a lover of learning and wisdom and and making a big impact in the world. I love that we share a love for learning from other people and salsa dancing and many other things. So I'm excited to get into it with you today.
00;00;31;23 - 00;00;36;11
Evan Carmichael
Yeah, great. It's always great meeting fellow salsa dancers, too. You never know where they're going to pop up.
00;00;37;19 - 00;01;06;25
Steven Pesavento
So for those of people who don't know Evan, millions and millions of followers on YouTube, you've pulled together the wisdom of many of the great thinkers and shared your wisdom along the way as well. We're going to get into some of what you've built in and how you've gone about building it. But before we do, I'd love to start out on a personal note by looking back at earlier in your life, what events or influences from your childhood shaped who you are today and how has that impacted your money, your investing journey?
00;01;08;00 - 00;01;30;11
Evan Carmichael
Wow, Childhood. Okay, we're going way back. I was thinking like I started my YouTube career, but we're going we're going in childhood. Okay, Let me let me let me pull up my seat on the couch here. Um, you know, one of the one of the things that kind of set me down an entrepreneurial business investing money path was in 1988, I was eight years old.
00;01;31;05 - 00;01;55;27
Evan Carmichael
Ben Johnson was a famous Canadian sprinter, and he won the gold medal at the Summer Olympics. I don't know if, like, if that name means anything to you or whatever, but I was eight years old. I was I was so excited. Canada Canada won the gold medal in 100 meters sprint, and then it found out that he he took steroids and it all got ripped away and he lost his gold medal.
00;01;55;27 - 00;02;21;25
Evan Carmichael
And I was devastated as an eight year old. And I think I've even told this story anywhere. So this is this is the scoop, Steve. It's great. I was devastated and my mom couldn't stand to kind of see me so sad. So she bought me some baseball cards and that started my entrepreneurial business investing path where the next year the Blue Jays came to Toronto.
00;02;22;12 - 00;02;51;07
Evan Carmichael
That's our local baseball team. And I spent the next five or six years becoming obsessed with baseball cards, collecting, trading every weekend, going 3 hours out of town to different baseball card shows, getting autographs, all of that stuff, and cutting my teeth in negotiations where if somebody wanted to buy one of my cards for a dollar, our dollars in Canada are coins.
00;02;51;07 - 00;03;13;26
Evan Carmichael
We don't have the bills. And I remember this guy gave me this dollar, but it had all this like mud or something on the back of it. It's like, I'll take that. I'll take that dollar, you know, that mud and learning to negotiate with people who are three or four times my age over a dollar and $0.50 and $2 and up to hundreds of dollars, you know, eventually and then thousands for cards.
00;03;14;11 - 00;03;22;29
Evan Carmichael
But that got me down my path of business and negotiating and investing, all because Ben Johnson lost the 1980 Olympics for doing steroids.
00;03;23;28 - 00;03;44;13
Steven Pesavento
I mean, it's funny how that kind of comes together where you have this guy that you look up to. He's a digital mentor to you. You watch him, you see him, you're inspired by him, and then you're let down. And that opens up a whole nother world to you, where you start diving into other sports players and memorabilia and start understanding the game.
00;03;44;13 - 00;03;54;19
Steven Pesavento
I mean, how do you think that played a role in what came later when you started? Businesses became venture capitalists and exited and now, of course, what you're doing on YouTube today.
00;03;55;00 - 00;04;12;16
Evan Carmichael
It got me interested in business for sure. I remember then thinking that I want to be in business. I want to be a banker. You know, when I was I'm I'm 43 now. So when I was growing up back in the kid days, entrepreneur wasn't a thing. I didn't know any entrepreneurs that in my school was an entrepreneur.
00;04;12;17 - 00;04;29;02
Evan Carmichael
Like it wasn't pop culture to be an entrepreneur. And so I thought I would be banker. I was very good in the stock market. I wanted to invest. I wanted to like, learn how to make money. I love being the banker in Monopoly. And I remember asking my family like, Oh, what? What stock have I got? $2,000 saved up?
00;04;29;02 - 00;04;53;13
Evan Carmichael
Like, what stock should I buy as a 13 year old? And they told me, Just buy the banks because Canadian banks are pretty safe. We don't really have bank failures and issues like you guys do sometimes in the US, but just by the banks and that was okay advice, but it didn't feel like it was good enough. And so that sent me down the path of I need to learn investing.
00;04;53;13 - 00;05;17;16
Evan Carmichael
And I became obsessed all through high school with investing and studying people like Warren Buffett, learning about what companies I should buy, trying to understand a balance sheet, financial statements, all that kind of stuff. Because that one little taste of business early on sent me down my path in my high school yearbook. It says, you know, where do you want to be in ten years or Where do you see yourself in ten years?
00;05;18;10 - 00;05;41;16
Evan Carmichael
Mine was at a bank. That's really what I thought I was going to do. Banking, investing in finance. That's what I wanted to do until in university I connected with two entrepreneurs who had started a company, and that then took me on a different path where I turned down the six figure jobs at a school to make 300 bucks a month and take 30% of this startup company, which, looking back was a super smart decision.
00;05;41;16 - 00;05;44;02
Evan Carmichael
But at the time I thought I made the stupidest decision of my life.
00;05;45;05 - 00;06;04;11
Steven Pesavento
What's when everyone around you is telling you that you're making a dumb decision, What advice do you have to people who are kind of going down that path? Their friends, their family? They want the best for them, yet they're not living the life that person wants to live and they're stepping out of that that norm. They're stepping out of that tradition.
00;06;04;11 - 00;06;11;27
Steven Pesavento
What advice do you have to those people to stay on the path and stay strong knowing that they're doing the right thing?
00;06;13;13 - 00;06;34;25
Evan Carmichael
Well, one, two things. The first is how does the person who you're talking to done the thing that you want to do? And quite often it's no, you know, like the person who you're asking for advice and you may not even be asking for advice, you may just be receiving unsolicited advice. You know, the thing that you want to do, you go and tell your your family, I'm going to get into multifamily investing.
00;06;34;25 - 00;06;55;07
Evan Carmichael
They say you are crazy, right? And and all of a sudden their opinion for some reason means something to us. Like, have they done it? Have your parents done this, Have your family done this, have your friends done this? And because they haven't, they're naturally going to say, that's a crazy idea. Who do you think you are? You're going to go invest in multifamily.
00;06;55;07 - 00;07;13;10
Evan Carmichael
You know, it's like, that's stupid. People like us don't do those things. And it's and they bring you back down. And so the starting point is, has the person who's giving you advice done the thing that you want to do or not? And if not, then you probably want to do the opposite of the advice that they're giving you.
00;07;13;10 - 00;07;29;08
Evan Carmichael
Yeah, yeah. Because they don't have the life that you want. And then the second thing is, for every for every person that you're kind of pulling out, you know, it's okay, we going to stop listening to that person because they don't know anything about the thing. And I want to get into you start to inject in somebody who actually knows what they're talking about.
00;07;29;19 - 00;07;44;25
Evan Carmichael
So, yeah, I wish your show existed when I was trying to figure out the investing game. You know what I subscribed to? Listen, everything you made, I had to read newspapers to learn this stuff, you know, in books, to learn this stuff, where now there's so many amazing YouTube channels out there where you can go off and learn.
00;07;44;25 - 00;07;53;19
Evan Carmichael
And so for everybody watching this, if you love Stephen's content and the way that he thinks and the guest that he brings on and the messages that he shares, how many episodes have you done, Stephen?
00;07;54;29 - 00;07;55;29
Steven Pesavento
Almost 400.
00;07;57;08 - 00;08;17;20
Evan Carmichael
There's 400 episodes for you to go back and watch and learn from, right? I mean, I think the best teachers now are on YouTube and they're sharing their wisdom and advice, and so you may never get the opportunity to meet Stephen in person, but you can learn a heck of a lot from him through these 400 episodes plus more that is releasing ongoing.
00;08;17;20 - 00;08;34;05
Evan Carmichael
And so to start to create a more positive environment for yourself by removing some of the people who are bringing you down and and supplementing in some of the people who lift you up, even if they're just remote through digital mentors like Stephen, who can teach you.
00;08;34;23 - 00;09;03;15
Steven Pesavento
It can be such a great tool. And I think you said something people like us, right? That's a term that we have to be able to let go of if we want to change, you know, changing that identity, changing that belief that that we're we actually are those people. We can be those people and surrounding yourself with others and listening to shows like this, listening to all the great wisdom that you've put together out on YouTube, I think is a great way to do that.
00;09;03;22 - 00;09;30;03
Steven Pesavento
And with that, you've built a massive following on YouTube. You're assembled the wisdom of others. You've been sharing your own wisdom. If someone was on a mission like you, like me on a mission to make an impact in the world, to help people really change their beliefs about money, to step into that investor mindset, what advice would you give them to focusing on really making a huge impact on the world on their mission?
00;09;30;26 - 00;09;51;23
Evan Carmichael
The first is understanding what is the mission that you're on and do you have clarity over that? So I'm I'm a big believer that your purpose comes from your pain. Whatever you struggle the most with is what you want to help other people through. And so getting pretty clear on what was the biggest struggle of your life that now you want to make it easier for other people so that they don't have to suffer and struggle as much as you Mine was.
00;09;51;23 - 00;10;14;03
Evan Carmichael
Believe in myself as a young entrepreneur, 19 years old, wanting to quit on my company. I'm still making content for 19 year old Evan because there's millions of 19 year old twins out there who need the help and support and guidance and motivation. And so getting clear on that, I think it often we're just looking to chase and opportunities like, oh, everybody cares about passive income, so let's make a passive income show.
00;10;14;03 - 00;10;29;15
Evan Carmichael
Like if that's why you're doing it, you're going to lose. You have to like, really care about this. And so that comes from usually a painful place where like growing up, maybe you didn't have a lot of money or maybe, you know, your parents didn't have a lot of money or whatever. It is like tapping back into that.
00;10;30;05 - 00;10;49;11
Evan Carmichael
And so for everybody listening and watching and figuring out what is that painful moment in your past that you can get up on your couch and lie down and talk to Stephen, you know, virtually, and just kind of go through that same exercise of what's the most painful thing that you went through that now you want to make sure that people don't have to suffer through that.
00;10;49;11 - 00;11;10;20
Evan Carmichael
That's your purpose and that will never get old like that. I'll love believing in people until the day I die and I'm 43. I started doing content when I was 22. So it's been over two decades of doing this and I feel like I'm just getting started when people ask me like, How do you not burn out? How do you deal with burnout?
00;11;10;21 - 00;11;40;04
Evan Carmichael
Like, burnout is I don't this is fun. This doesn't feel like work. This is fun for me. So that's step one, step, step two, I would then say, okay, well, now that you identified what you what you want to create, it's to start to surround yourself. So back to the last question. Like surround yourself with the people who are doing it, who inspire you, who feel like make you feel like it's possible, whether it's on YouTube or books or podcasts, you need to surround yourself with it.
00;11;40;04 - 00;11;58;21
Evan Carmichael
Because no matter how much of a great day you had today, tomorrow you're starting over again. And that motivation is not always there. And so you need to create the environments, the habits, the rituals, the routines by following the people who make you feel better about yourself and give you hope and inspiration and tactics of what to do.
00;12;00;06 - 00;12;04;05
Evan Carmichael
If you're around those people every day, you will start to move forward on building your mission to.
00;12;05;07 - 00;12;30;24
Steven Pesavento
Yeah, I think it's so, so powerful because, you know, when you have that pain and you really connect to it, you know that there's other people who are experiencing it. It can often be kind of a fear moment for people to share that story, to share who they really are, where that comes from. And when you don't when you aren't sharing that story, there's there's a missing piece that doesn't connect those two together.
00;12;30;25 - 00;12;55;10
Steven Pesavento
I mean, for me, I grew up in a in a challenging childhood, a lot of trauma, a lot of fear, a lot of pain. And for for me personally, a lot of it came back to money, came back to a belief about money. It came back to me believing that all my problems were actually connected to money. I later learned as an adult that, you know, many of those things would have still been present even without it.
00;12;55;10 - 00;13;15;10
Steven Pesavento
But it gave me a drive to go figure this out, to go figure out, Hey, how do I get out of that place where I don't have to worry anymore, where I don't have to, you know, lack the resources to actually solve these problems. And some of those problems are, you know, psychology. It's like the challenges that we all face and some of them is skills and and strategies.
00;13;15;10 - 00;13;51;08
Steven Pesavento
And so for me, I think it's really important and I know your channel has been really powerful for so many for millions of people. It's been powerful for me in diving into that format of learning from other people who you essentially share the wisdom of, of really, really great success with smart folks on your mission that your on what challenges with that format that you've built have you faced for what's next and what's been the advantage of that format for what you've been able to build in the impact that you're making in the world?
00;13;52;00 - 00;14;21;05
Evan Carmichael
My biggest limitation is still lack of belief. Yeah. So people say, Well, you're the believe guy. It's like, Yeah, but I believe in myself to do the things that I've done now. But to do the next the next big thing, I don't believe in myself through the next big. So I still need the channel for myself because I want to wake up and have Oprah Winfrey or Steve Jobs or Elon Musk or whoever it is whispering messages in my ear to get me going to do the next thing.
00;14;22;10 - 00;14;46;22
Evan Carmichael
One of my my talk about the format of of giving tribute to other people at the beginning it was just, hey, I've learned this from these people and I think you might be able to learn too. I was just hoping to shortcut the path because my my worst day in my first business was when I said I quit on my business partner and I woke up the next day and said, I can't quit yet because I'm going to regret this If I don't figure this out.
00;14;46;22 - 00;15;05;29
Evan Carmichael
At least, at least if it doesn't work out, fine. But at least know that I gave it everything because I don't want to look back and say, I wish I just tried a little bit harder, but I couldn't keep going the way that I was going. So I had to find another path. And the thing that came to me was I can't be the first person to try to solve this problem.
00;15;05;29 - 00;15;22;29
Evan Carmichael
Like somebody figured this out. Why don't I just model success? Like that wasn't model success wasn't words that I would use, you know, probably a lot more clumsy. But I can't be the first person to figure this out. Somebody done it, and that's why I studied Bill Gates. It's like Bill Gates had a like, who's got a software company?
00;15;22;29 - 00;15;40;13
Evan Carmichael
I had a software company who's got a successful software company. Bill Gates came to mind like this was not very advanced planning. It's just top of them. So, okay, how did Microsoft get started and how did he build like, not so much. How did how does Bill Gates makes an extra million dollars now? Who cares? But like 0 to 1?
00;15;40;13 - 00;16;00;03
Evan Carmichael
How do you do that? And it was through partnerships and in learning how he applied that in Microsoft. I brought that to my business and quickly after had my first check for 13 and a half thousand dollars. And that may not seem like a lot, but when you're making 300 bucks a month, like 13 and a half K, it's like, holy cow, this is a grand slam here.
00;16;00;24 - 00;16;17;27
Evan Carmichael
And more importantly, I could do that again. That was just one deal. I could close more deals. So the idea, the strategy there was model success. Find people who have done this and put that to use in your business of your life. And so I, I then went on this mission to continue learning how I can model other people success.
00;16;18;09 - 00;16;34;13
Evan Carmichael
And then that eventually became a YouTube channel where I shared a lot of messages. A surprising benefit of that has been I've gotten to meet some of these people, you know, like I was just profiling some of them, and then now I get to do interviews with them or go hang out with them or go to their houses.
00;16;34;13 - 00;16;50;28
Evan Carmichael
And some of them have become friends, which was never part of the idea of what I could do. It's just, hey, I love your message. I'm trying to get it out to the world because if I learn from it, maybe other people like me can learn from it. And it's been amazing to be able to foster those connections, too.
00;16;52;11 - 00;17;34;25
Steven Pesavento
Yeah. And I think it's it's such a good example because you essentially found something that you needed and you recognize that a lot of other people likely need it as well. And that really led you down this path where you're able to, you know, go out and continue to share those lessons. And obviously it continues to grow exponentially when you look at that impact that you're looking to make moving forward, how has that changed versus maybe midway through the journey when you realized like, oh, this is really about helping people to believe and where do you think and where are you focused on going with that message and the impact that you're looking to make
00;17;34;25 - 00;17;35;09
Steven Pesavento
in the world?
00;17;36;22 - 00;17;51;06
Evan Carmichael
So I'm trying to solve the world's biggest problem, which I think is people don't believe in themselves enough. I think everybody was has what I call Michael Jordan level genius, said something like, you're the greatest in the world at something. And it's probably not what you went to school for, and it's probably not what your parents did for a living.
00;17;51;07 - 00;18;26;18
Evan Carmichael
It's something completely different. But you could be the greatest in the world at something. And so it's figuring out what the heck that thing is and then believing in yourself enough to go chase down that dream. And that is a problem that I'm never going to solve and I wake up every day trying to solve. I think if you look at the history of me doing this, whether it's the 14 years on YouTube or the the six or so years before that, making website content and having 100,000 pages of website content, I've gotten a lot more articulate and clear on what I want to do as a as well as seen a bigger vision for
00;18;26;18 - 00;18;45;05
Evan Carmichael
it. Even when I made my first video, I didn't think it was going to do anything. I thought, I'm going to make this. I'm a visual learner. I'd rather see something than listen to it or read it. I'd like to see something. And so I thought, there's got to be some people who are like me and I'm going to make it.
00;18;45;05 - 00;19;11;12
Evan Carmichael
And hopefully it inspires a couple of people. And if 50 people saw my video, I'd be freaking out. Like 50 people saw this video. Holy cow, This is amazing right now. This was 2009, right? So YouTube was a different world. Nobody had a million subscribers. Influencer wasn't a word, so there were no models to follow, though. I was just this crazy person making content long form educational videos like did not exist.
00;19;12;02 - 00;19;33;08
Evan Carmichael
So I was just doing it because I thought it might help a few people as as it started to grow and as YouTube had started to grow and as more people started creating content, it's become way more apparent that, oh, this like this could be so much bigger than just 50 people, you know, watching a video. I should take it more seriously.
00;19;33;17 - 00;19;54;14
Evan Carmichael
And fast forward to today. We have 42 people on the team. You know, I could do a lot more with content and reach an impact than if it was just me trying to do everything by myself. Like I was at the beginning. But the intention was always there. The intention was always to serve. The intention was always to help people believe in themselves, especially entrepreneurs, a little bit more.
00;19;55;12 - 00;20;13;13
Evan Carmichael
I was just doing on a really super small scale in my production as well as my thinking for how far this would go. And with time and effort and energy and, you know, mentors and more belief, it's become something much bigger. And now I just want to continue building it bigger and bigger and bigger to impact more people.
00;20;14;10 - 00;20;42;10
Steven Pesavento
And where do you see the next opportunity or the next focus point for you in in making that impact? You know, outside of the strategies that you're using today, do you think, Oh, there's so much left here, there's no reason to focus on anything else? Or do you think that for people who are looking at making an impact, whether that be online or through content or speaking or any of those different avenues, where do you see that kind of a next horizon?
00;20;42;10 - 00;20;46;02
Steven Pesavento
Kind of like you entered YouTube very early on. What do you think's next?
00;20;46;23 - 00;21;07;07
Evan Carmichael
So I think it depends on what your mission is, right? So for me, I've got a giant mission, right? I want to impact the whole world. And so how do you do that? Well, my hypothesis is that it's content at scale. And if you're going to do content at scale, you've got two options long form or short form.
00;21;07;22 - 00;21;32;28
Evan Carmichael
The platforms are basically divided Tik-Tok and SNAP and Facebook and Instagram are all short form content and then YouTube is long form and YouTube has shorts I guess is a combination, but there's YouTube on one side with the long form and all the other content, which is short form. And if if you want to have an impact and really want to make a difference, I think it's hard to do it in 30 seconds.
00;21;32;29 - 00;21;58;21
Evan Carmichael
Little clips. So that's a lot more inspiring, but it's not really making a huge impact if you're trying to explain multifamily investing in a 42 second video like good luck, right? So. So but that's fine. Like the shorts have their own path. It's to inspire, but it's not really to to do deep education and you're not really doing any of the deep work just from the clips.
00;21;58;21 - 00;22;26;09
Evan Carmichael
So hopefully the clips inspire somebody to start down the path to learn more about this thing. So long form, I think is is the ultimate answer. And right now YouTube is still the only place for long form video. First content. Instagram was supposed to have it with IGTV that never ended up, you know, becoming the YouTube killer. And there's been a whole bunch of different YouTube killers that have been proposed over the years.
00;22;26;21 - 00;22;52;02
Evan Carmichael
Nothing has come to fruition now, whether it becomes ultimately VR, you know, and where we're in each other's living rooms doing the next interview and ten years or whatever it is, I'm sure something else will come along. I don't see anything that's on the horizon that's going to challenge YouTube for long form video content any time soon. And so in in the scope of my mission and what I'm trying to accomplish, it's still the best place to be.
00;22;52;26 - 00;23;03;13
Evan Carmichael
I don't care about YouTube. I care about having an impact. YouTube just happens to be the best way in 2023. And for the next few years that I see going forward touch you make that impact.
00;23;04;10 - 00;23;31;08
Steven Pesavento
Yeah, well, we didn't talk a lot about money because at the end of the day, once you've kind of made it to having that financial security, once you've made it, what I've noticed is the most successful people are focused on impact and it's very clear that that's your focus and you're in that position. As we wrap up, Evan, what advice would you give to folks who are listening to this, who know that they're destined for more?
00;23;31;16 - 00;23;35;00
Steven Pesavento
And what message would you like to leave them with today?
00;23;35;16 - 00;24;02;14
Evan Carmichael
Just to know that it's possible that whatever that dream in your head is, that it's actually probably even small compared to what you're capable of, and that it's possible and that people with less intelligence and less resources than you, your heroes, a lot of them start with less than what you have right now. You have Stephen to pay attention to, You know, a lot of your heroes didn't have anybody and they figured it out.
00;24;02;14 - 00;24;24;10
Evan Carmichael
And so they can you can, too. And it requires a different way of thinking. It requires a different way of acting. It requires you maybe saying no to some people and then saying yes to new people and new opportunities in your life. But your dream is possible and you just have to wake up every day and take one more step towards making momentum happen towards it.
00;24;24;16 - 00;24;27;25
Evan Carmichael
Because I think for a lot of people the biggest thing they're missing is just momentum.
00;24;28;14 - 00;24;44;07
Steven Pesavento
Such a beautiful message today, Evan, for those of you who haven't grabbed a copy of Evan's new book, Momentum, highly recommend you go grab a copy from your favorite bookstore or Evan, anything you'd like to share with people about how they can follow you or get in touch?
00;24;46;14 - 00;24;57;25
Evan Carmichael
I'm Evan Carmichael. Wherever you're at, I'm probably there. The book is on Amazon. Easiest spot. You go to YouTube. I'm. I'm there. You'll find me. And it's been awesome. Thank you for having me on, Stephen.
00;24;58;14 - 00;25;02;10
Steven Pesavento
Thanks so much, Evan. Appreciate it. And thanks for listening. We'll see you all in the next episode.