Iman Gadzhi - Money, Women, Fame, Fatherhood (E021)

Added: Oct 27, 2023

Gadzhi begins by discussing his childhood and the challenges he faced growing up. He reveals that his biological father was an alcoholic and abusive, but he was not personally affected by it. He credits his strong and resilient mother for helping him navigate through those difficult times. Despite the hardships, Gadzhi's mother instilled in him a sense of resourcefulness and frugality.

At the age of 14, Gadzhi started his first business venture by buying and selling Instagram pages. He grew these pages and then rebranded them to attract more sponsors and clients. This early experience taught him the value of entrepreneurship and the importance of adapting to market trends.

Gadzhi then transitioned into the fitness industry, becoming a personal trainer and offering his services to friends and their parents. He quickly realized that he had a knack for business and decided to start documenting his journey on YouTube. Although he was initially shy and introverted, Gadzhi found solace in creating videos and sharing his experiences.

As his YouTube channel grew, Gadzhi started attracting clients for his creative agency. He initially focused on providing social media management and content creation services. However, after facing challenges with clients not seeing the value in his work, he decided to pivot and learn about advertising. This decision led to the growth of his agency and the expansion of his client base.

Gadzhi emphasizes the importance of being logical and objective in business. He believes that critical thinking and the ability to face reality are crucial skills for success. He also highlights the power of perseverance and patience, as he experienced a seven-month drought period before signing his next client.

During this period, Gadzhi realized the potential of the global marketplace and started outsourcing work to contractors from different countries. This allowed him to scale his business and increase his revenue. He shares that his first significant milestone was reaching a 40-50k month in April 2018, followed by a 100k month in October of the same year.

Despite his financial success, Gadzhi does not believe in the concept of "making it." He believes that there is no such thing as passive income and that success requires continuous effort and adaptation. He shares that he made his first million at the age of 18, which gave him a unique perspective on wealth and happiness. He emphasizes the importance of finding purpose and fulfillment beyond material possessions.

Gadzhi also touches on the challenges of managing people and the impact of social media on mental health. He shares that he has seen friends with significant wealth struggle with finding purpose and happiness, highlighting the importance of having a sense of direction and meaning in life.

Gadzhi shares that he is at an interesting point in his life where he takes home tens of millions of dollars a year. However, he states that his happiest years were when he was between the ages of 19 and 20, making a couple of million dollars a year in profit. He explains that during that time, he had less stress and responsibility, which contributed to a better quality of life.

While some people claim that they don't do it for the money, Gadzhi believes that there comes a point where individuals continue to work not for the money, but because they would be bored otherwise. He acknowledges that he could have stopped working after making his first million at the age of 21, but he continues to do so because he enjoys it.

Gadzhi discusses the different mindset of an 18-year-old who has made a million dollars compared to someone like himself. He believes that the younger person might go wild and party for a few years, while he focuses on his businesses and investments. He emphasizes the importance of taking breaks and enjoying oneself before getting back to work.

When asked about his paranoia, Gadzhi explains that he is always thinking about what could go wrong. He admits that this mindset is not conducive to a good quality of life, but it helps him stay prepared. He is then asked whether he is more paranoid about becoming irrelevant on social media or experiencing a drastic drop in income. He responds that he is paranoid in a different way and that he doesn't care about becoming irrelevant on social media. He even contemplates quitting social media altogether, as he believes that life outside of social media is much better. He also mentions that he doesn't need any more income for the rest of his life and that he would be happy to focus on his companies and investments if social media were to decline.

The conversation then shifts to Gadzhi's tactics and strategies for growing his YouTube channel. He reveals that he has three full-time thumbnail editors who provide five options for each video, resulting in 15 thumbnail options to choose from. He also mentions that he rehashes old videos and AB split tests them to continue growing his audience. He believes that his straightforward and well-edited videos, which provide valuable information on making money, have contributed to his channel's success.

Gadzhi addresses the topic of showing off his wealth on social media. He explains that he doesn't do it to get attention or prove his success, but rather because he wants to share his life with his audience. He also mentions that he has always been interested in luxury cars and dressing well, even before he became successful.

When it comes to spending money, Gadzhi follows a 70/30 rule, where he spends 30% of his free cash flow and saves and invests the remaining 70%. He admits that he hasn't been sticking to this rule lately and realizes that he needs to spend more money. He also discusses his desire to own a private jet, but acknowledges that it currently doesn't make financial sense for him.

Gadzhi briefly touches on his involvement in the property market but explains that he doesn't talk about it much due to the potential issues it can create. He mentions that it's better for people not to know what you have, both in terms of money and abilities. He believes that being underestimated can be an advantage in certain situations.

In terms of security, Gadzhi reveals that he has felt the most on edge in the streets of London. He also expresses his desire to visit South Africa, particularly Cape Town, but acknowledges that he would need to take precautions due to safety concerns.

Gadzhi continues by talking about his experience wearing expensive watches, such as Rolex and Richard Mille, and how he has never faced any security issues. He emphasizes the importance of being aware of one's surroundings and using common sense to avoid any problems. He also mentions that certain places, like London, make him more cautious.

The conversation then shifts to Gadzhi's living arrangements in Dubai. He explains that he moved into his own place at the age of 17 and has always been used to living alone. He believes that living alone can sometimes lead to feelings of depression, especially for high achievers, as they constantly feel the need to work hard. However, he also acknowledges the benefits of living with close team members, as it creates a sense of camaraderie and allows for better collaboration.

Gadzhi reflects on his own personal growth and maturity, noting that he went through a period of isolation when he moved to London to pursue his career. He realized the importance of social interaction and the need to balance work and personal life. He advises young men to not isolate themselves completely and to prioritize relationships and friendships.

The conversation then turns to the topic of monk mode, a term Gadzhi coined to describe a period of intense focus and work. He explains that he started practicing monk mode a few years ago and it has helped him achieve his goals. He mentions that he has certain rules and boundaries during this period, but he also knows how to have fun and enjoy life when he's not in monk mode.

Gadzhi also shares his thoughts on relationships and dating. He believes that having a day one girl, someone who has been with you from the beginning, is the most beautiful thing. He advises men to focus on building themselves and their careers before getting into serious relationships. He emphasizes the importance of respect and authority in relationships, especially in today's dating culture.

The conversation then shifts to Gadzhi's charity work in Nepal. He explains that he chose Nepal because he wanted to make a meaningful impact and ensure that the money he donates is being used effectively. He talks about his involvement in building schools and making decisions about where to allocate funds. He also mentions that he prefers to keep most of his charity work private, but he made it public because he felt it could inspire his audience.

Gadzhi then discusses his views on the education system and the importance of critical thinking. He expresses his disdain for universities and believes that they are primarily focused on creating workers rather than fostering true learning. He talks about his own experiences with education and how he has developed his own philosophy on learning and mentorship.

The conversation continues with Gadzhi sharing five essential skill sets for success in life. He emphasizes the importance of sales, people management, paranoia, critical thinking, and financial management. He believes that these skills are crucial for achieving greatness and excellence in any field.

Gadzhi reflects on his own experience with crypto trading, stating that he made around $10 million but attributes it to luck rather than his skills as a businessman. He emphasizes the need for strategic decision-making and the importance of working on businesses that can withstand failure and provide long-term stability, rather than relying on short-term gains from trading.

He also discusses his recent Mastermind event, which he organized to share his knowledge and experiences in business and entrepreneurship. He expresses his passion for education and his belief that many people in the education space are not doing enough for their customers. He aims to provide valuable insights and advice to help others succeed in their entrepreneurial endeavors.

Gadzhi acknowledges that he has a high stress tolerance and is willing to take on more responsibilities and challenges than most people. He recognizes the pressure and responsibility he feels to ensure the success of his businesses and the well-being of his employees. However, he also acknowledges the toll it takes on his quality of life and expresses a desire to eventually step away from social media and focus more on his businesses.

When asked about his plans for the future, Gadzhi mentions his intention to continue growing his companies and expand his knowledge in the business world. He expresses an interest in learning more about corporate structures and becoming more involved in that aspect of his businesses. He also mentions his desire to become a father in the next few years, acknowledging that he is ready for that responsibility and believes it is the next step in his personal life.

Gadzhi reflects on not having a father figure in his life and the impact it has had on him. He advises others in similar situations to be careful about their influences and the people they look up to, particularly online. He emphasizes the importance of being cautious and critical of the information and advice they receive, as not having a father figure to provide guidance can make it easier to be swayed by misleading or harmful ideas.