And he attributes his success to the oddest of things… journaling.
When he first started, he wrote down everything that was bothering him, like how his business wasn’t big enough, why he didn’t live in a cool city and so forth.
Once he got all the negative stuff out, he started journaling about what he wanted in his life. He wanted a better home, an amazing relationship with family members and friends, the ability to travel and of course a large income. He was journaling his vision for what he wanted to get out of his life.
But his real breakthrough came when he started writing down how he was going to accomplish the things he wanted to do. Instead of asking why he didn’t have the things he wanted, he asked how he was going to get them.
How do I go on more inspirational holidays?
How do I have a closer relationship with my friends?
How do I have a better body?
And then one day he went to a Starbucks he’d never been to before, with a brand new notebook, and wrote down the following question:
“How do I make $100 million in 12 months?”
At the time, he thought it was a crazy, CRAZY thing to try and do, but he did it anyway.
By doing 3 or 4 journaling sessions on how to make a $100 million in 12 months, he actually figured out a way to do it, and then ended up doing it.
Patrick says to journal consistently. When he’s trying to solve a problem like how to make a certain amount of money in a certain time frame, he will do several one hour sessions where he is totally focused on this one question, without interruption.
He says that because he has ADD (attention deficit disorder) he’s got to write things down or he will forget them. He keeps his journals and writes down every thought and idea that he has concerning reaching his goal. If he doesn’t write it down, it doesn’t happen, which is why he writes down everything. EVERYTHING.
He forms the plan, perfects the plan, and then gets out there and DOES the plan. He’s all about taking action once he knows how he’s going to get his goal accomplished.
His next goal was to reach $1 Billion in 12 months. Sad to say, he didn’t reach his goal. He only reached $500 – 600 million in 24 months when he started iFlix.
That’s right – he built a company to half a billion dollars in 2 years, all because he kept journaling. As they say, if you reach for the stars, you may get to the moon.
Would you say he failed to reach his goal? Technically, yes he did. But building a $500 million dollar company in 24 months is anything but failure.
Patrick says to set such a crazy high goal, and then try to reach that goal, and if you only attain half that much, it will still be a pretty great achievement.
Before you think that it’s been all sunshine and roses for Patrick, know that he lost nearly everything during the first dot com crash in 1999. He was 24 years old and had raised $20 million from investors, including his mother’s lifetime savings.
When the market crashed, his 23 year old CFO told him they had $2 million in the bank and owed $6 million. His staff of 300 went down to 30 in one afternoon. He told his mom that her money was gone. And when he went to bed at night, he hoped the building he was in would blow up as he was sleeping, so that he wouldn’t have to face the world the next morning.
Then he read Unlimited Power by Anthony Robbins. Reading that book gave him the mindset and mental clarity to become more effective in communicating with himself. He learned how to train his brain to be better, stronger and do what he needed to do to turn things around.
He’s now built 5 companies that he’s taken public, including one he sold to Rupert Murdoch for $700 million. His mother has all of her money back and he has 3,000 employees. And he’s the chairman of 4 public companies, collectively worth over a billion dollars.
What can we take away from his example?
First, that no matter how dark things might be, we have the power to turn it around.
Second, find your inspiration from those who have gone before. Reading the Anthony Robbins book was all it took for Patrick to begin climbing back out of the hole he was in and going on to start 5 different highly successful public companies.
Third, journal your goals. Don’t ask “why,” as in “why don’t you have what you want.” Instead, ask “how?” “How can you reach your goal?”
Ask yourself – if you only accomplish 1/100th of what Patrick has done, what will that mean for you?
And most of all… “How can you do it?”