Bedros Keuilian Podcast Show - 037. The $200M Formula (How to Win in Business)

Episode Date: June 13, 2023

In the latest episode of the Bedros Keuilian Show, I dive into how after building my own $200 million empire I've identified three crucial pillars that support a truly successful business – The Three P's. The difference between "putzing along" and truly thriving as an entrepreneur often comes down to understanding and implementing these three foundational principles. And for all of my intrapreneurs understanding these Three P’s will drastically increase your value, elevate your title, and get you the recognition and compensation you rightfully deserve in any work you do. JOIN ME SEPTEMBER 8-9 AT BK LIVE The Self-Mastery & Business Event of THE YEAR https://bedroskeuilian.com/live JOIN MY FREE 6-WEEK CHALLENGE: https://bedroskeuilian.com/challenge

There's a formula to success and the foundation to building a business that wins. Rest on these three things I'm going to share with you here. Welcome to the Bedroes-Cooleon show. When Q was rolling with Lorenzo and a Benzo, I was banging with a gang of instrumental. Hey, what's happening, friends? Bedros-Colian here, and welcome to the Bedros-Colian show. We've got a really awesome show on the docket for you today. I want to kick off by letting you know that my whole journey as an entrepreneur,

actually started off when I was seven years old. Not that I became an entrepreneur when I was seven years old, but if you guys know my story, you know that we're immigrants to the United States. My family and I, we escaped the Soviet Union and we came to the United States when I was six years old in 1980. We lived in Section 8 housing, which is government-assisted housing. We, you know, we had food stamps. We were broke and poor. And if you want to know, difference between broke and poor broke is when you don't have money poor is a state of mind like I know rich people today who are stuck in this poverty state of mind who are always afraid of losing it all and and fear that they're going to lose it all and that's not a way to live right but

broke like dude I'm a multi-millionaire but I can go broke again if I make a bad decision but I can get my money back but I'll never be poor because I fixed my mindset. But anyway, so growing up in Section 8 housing, government-assisted housing, being poor, being broke, my siblings were substantially older than me. You may have heard me talk about how my brother is 14 years older than me and my sister is 16 years older than me. So you can imagine our first year in the United States, I was seven years old at that time and my sister would come home crying from one of her three jobs that she had. So she was going to Cypress Junior College to learn English.

And she had like all these little side jobs, like three little side jobs that she was doing, like part part time jobs. One of them was at a little pizzeria in Anaheim, California. And apparently the owner of that pizzeria was just an just an absolute jerk to her. He didn't trust her. He was very grabby with her.

Obviously being foreigners and immigrants, my sister didn't know the law. and the rules. And so she just didn't know what to say and what to do. And this guy knew that. And so he would take advantage of that. And in fact, he was such an asshole that when she would drink soda water, he would go and taste her water, like her cup of soda water to make sure that it wasn't like

Sprite or Seven Up, that it was just either water or soda water because that's all she could drink, right? Like he was that cheap of an employer. And so she would come home crying. and she would be upset and my dad would say like, look, man, just, you know, let's do the best we can. I'll make sure I find a way to get you out of that job, et cetera. And I remember telling her, I remember I was seven years old. I remember telling her when she was in that stressful, sad state that one day I'm going to be so rich that you'll never have to work again. And the irony of it is today she works for me full time from her house, actually taking care of my mom and dad, right?

And I love that. But what allowed me to do that for my sister and what's allowed me to really build an amazing life for my family and to retire my parents and to be good to the charities and organizations that I believe in like Striner's Children's Hospital, we've donated well over seven figures to Shriners Children's Hospital for the last dozen years. Toys for Tots, we buy a quarter million dollars with the toys every Christmas for Toys. And of course, for Compassion International, we've got 97 kids adopted through Compassion International. And I don't say any of this to boast or brag.

I share this with you because I was able to make good on that promise to my sister when I was seven years old. I was able to put my family, like my blood family, and then my immediate family, like my wife and kids now in a really good place. I think I take pretty good care of my team and give back. charities and causes that I believe in. And what's allowed me to do that is entrepreneurship. Entrepreneurship truly is a very powerful, powerful tool. It's a weapon for self-improvement. It's a weapon for self-development. Entrepreneurs are the backbone of the American economy. Entrepreneurs are innovators, they're creators. They are the ones who find a problem and always figure out how to create a solution that's elegant, that's affordable, that's convenient. Look how life

has improved in so many ways because an entrepreneur was willing to put their dream to the test by risking money, taking out a loan, working late nights when they had a job just so they can get that business going. So if you're an entrepreneur, first and foremost, I salute you. Secondly, if you're an entrepreneur, your business owner, and I know more than half of you who listen to this show and watch this show, more than half of you are entrepreneurs and business owners. And so I want to coach you up. I want to share some of the secrets, three very specific things about building a business that serves your life. Because the unfortunate part about entrepreneurship is that 80% of businesses out there are breaking even or losing money every

month. That is the harsh reality. And so if 80% of businesses out there are breaking even or losing money, that means 20% of the business. people out there who are entrepreneurs and business owners, they're actually doing well for themselves. And so you've got to wonder, what are they doing so well that the other 80% aren't so that you can do the same, right? And so now I've got the good fortune that I started off as an entrepreneur early on, meaning my desire for entrepreneurship started early on. And it really started off because of lack, right? I knew my family lacked money. We lacked resources. My sister was working that job that she despised because she had to. We needed the money to get by. The alternative would be that

would be in the streets. And so most entrepreneurs always start in a place of lack. Like you're lacking money. You're sick and tired of where you are financially with your maybe your dead end job. you're not really bought into the company that you work for. There is no vision that you've bought into with that company. You're just a cog in a wheel. You're not really serving humanity. You don't feel a sense of accomplishment, a sense of satisfaction at the end of a long day. And you're just like, you know what, man, I think I could start my own thing, right?

And that's how most entrepreneurs start a business. But the reality is when they do, they don't put any thought into it. They just go, I'm going to create a product that people need, which is usually the form of a product or a service that solves a problem, right? The only problem is in the free market space, it's pretty congested. It doesn't matter what industry you go into. It's pretty congested. You have a lot of competition. So if you are not standing out, if you are not marketing, if you're not doing all these necessary things, you become part of that 80% that's struggling to get by. And soon you go, man, I really wish I had that old job where I could work nine to five.

and actually bring money home and have health benefits and a 401k versus work 24-7 and just break even. And in some cases, lose money. And that's the 80% of businesses out there, right? And so every year, they hope that they could do something different where they can become profitable. And in fact, if you ever heard of the term Black Friday, right? I think it's the Friday after Thanksgiving. The whole idea there is that if you look at a ledger on a P&L report, it's either a red column or a black column. The red column means you are losing money.

When the numbers change to black font or black color, that on a P&L report means that you are profitable. So the whole idea of Black Friday was all businesses would hope and pray that Black Friday, would come soon enough so that they would have their sale and people would rush their stores and they would finally go in the black. They would become profitable. That is no way to live as a business owner, as an entrepreneur. If you own a business, whether it's a brick and mortar or an online business, it is no way to live where you are sacrificing so much time, money, energy effort, you're sacrificing time

with your family and you're hoping that down the line you build something that you can show for it, but every year you find yourself hoping and praying for a Black Friday or for some special sale or for some special marketing thing to pop off because there is no systematic flow or process to the desired outcome of making money and having time freedom. And just so you know, all businesses should be there to serve you, the entrepreneur. You're not there to serve the business. In the beginning you are. Make no mistake about it. In the beginning, you are to bleed for your business. In the beginning, you are to hemorrhage for your business, guys. But at some point, your business should be on a trajectory where you are using the profits that you're getting

to hire employees to buy back your time so that they can do some of the work that you were doing so that you can focus on the vision ahead, how to scale this thing even bigger, right? But if you're constantly in that rat race, if you're constantly looking down and in and not up and out like a visionary should, you begin to soon resent your business. Soon your family sees you as a stranger

just passing through the house, cranky, angry, upset because you gave the best of you to your business and you bring your crumbs home. Like, I've been there, and I don't want you to go there. So I've got the good fortune with all my companies that I've built that I can look back in hindsight now that I'm 48 years old and go, all right, how did we build this $200 million a year empire? Right? How did we build it?

What is it rest on? What is the foundation? And as it turns out, the foundation of all successful businesses, whether it's Fit Body Boot Camp the franchise, whether it's truly in our supplement company, whether it's Fuel Hunt, the apparel company, whether it's FitPro tracker. The software company, right, cauliflower crust company. I'm an investor in that company. I'm an investor in a few other brands as well that I can't necessarily mention here and now because I can't. And then I look at all my coaching clients and they have anywhere from services to products, from the oil and gas industry to registered dieticians to real estate investors to people that own brick and mortar weight loss centers.

There's a formula to success and the foundation to building. a business that wins rests on these three things I'm going to share with you here. And so if you're like, man, I'm an entrepreneur and he just spoke to me right now. This motherfucker spoke to me and he knew exactly the frustration I'm feeling, the fatigue I'm experiencing, the crumbs that I'm giving to my family, that I want you to pay attention. And if you're like, man, I'm not an entrepreneur. I work for someone else. So I don't need to listen to this episode.

I'm here to tell you you do. Because if you don't ever want to own a business, you're going to. business, you ought to know these three things because if you want to increase your value to the company and organization that you work for so that you can work your way up in pay and in title and in recognition, you're going to know, you're going to want to know these three foundational things that I'm going to share with you here so that you can make that business better and so that the visionary, the CEO, whoever your boss is can give you the compensation that you deserve. So then, let's kick it off and get going. So I titled this episode

How to Win in Business. Because again, like I said, 80% of businesses are losing or putting along year after year. And that 20% that's winning, that's broken up into like, that 20% is broken up into 5.15, right? Like the 15 are doing good, not great. And that 5% are doing really great. And that 5 are doing really great. Well, again, I've got the good fortune with all my coaching clients and with all my entrepreneur friends that I get to peek into their businesses. And with all my companies and all the companies that I invest in, I get to see a very common thread in businesses that fail, businesses that putts along and businesses that thrive and hockey stick. And here's what those things are. They're the three P's. P number one is your product, right? And by the way, doesn't it feel great

to know that like your business, your entire success of your business, rests on these three things. Because a lot of people think like, man, you know, there's so many moving parts to a business. Like you got to get all these things right to make it happen. I'm like, no, you know, after 25 years of being an entrepreneur and losing my fair share and then now winning my fair share, I can tell you it breaks down to these three P's, right? And that first P is the product, right? Your product, how does your product stack up with the competition? Now, whether your product is an actual physical thing, right? Or it's a service that you do.

How does it truly stack up? Like when I get a coaching client, and they're paying me 100 grand for the domination year for 12 months of coaching and their goal is to, we obviously want to 5 and 10x their revenue over the next 12 to 24 months, well, we have to focus on the fundamentals, the three P's.

And when I ask them, how does your product stack up against the competition every single one of them go, I've got the best product ever. And I go, how do you know that? And they'll typically say, well, you know, I looked at what's out there and I know mine's better. Well, the reality is it's hard to really objectively judge your own product or service because you're so close to it, right? You're so attached to it.

You created it. You put so much time, effort, energy to build it that you are jaded where that's concerned. So literally, you are not the best judge of your product. In fact, you were the last person who should be judging your product on its merits. And so really, what you would want to do is you would want to then ask your customers in a survey for feedback. Does my product meet and exceed your expectations? Like before buying my product or service, what were your expectations? And they might say this was my expectation.

Okay, well, once you bought it, does the product meet or exceed your expectations? And I'm here to tell you guys right now, guys, if the product just meets the expectations, if it's just good enough, you're not going to survive anymore. Those days are gone where good enough product is good enough. Now, if you are not exceptional, you will not survive. Because the world has gotten so small, because of social media, the internet, we get to now shop anywhere in the world. So if there is a better product or service being offered better than yours, even though I'm in your neighborhood, I'm in your town, but there's a better product or service being offered on the other side of the world, I can access it through this cool little device, my phone, right?

And so you have to be so good at it. At that product or service, you have to have such great mastery of understanding your customers and clients' fears, frustrations, and desires to be. able to satisfy their fears, frustrations, and desires, to be able to create a product or service that is so convenient, so affordable, so easy to access, to use, so instinctive. Think about the iPhone. You open the box and there is no user's manual that we go through. I think they have a tiny little user's manual, but no one really goes through it because everybody knows how instinctive it is because they've made it so dummy proof, right? It is an elegant piece of device and how it looks. and how it functions.

And it doesn't matter if it's the iPhone or the Android. My point here is that they made the flip phones and the old analog style phones obsolete because they went to such a high level by combining the internet, the telephone, the camera, the PDA, right? Your personal daily assistant, all into one unit.

And now entertainment? I mean, you're probably watching or listening to this on that device. And so if your product does not stack up to the competition, if you are actually surveying your customers and you're asking them if my product meets or exceeds expectations, that feedback might hurt you. We do those feedback surveys in this company from my big brands. And when we get the feedback, we don't go and then justify, well, it's user error. You're not using it right. We go, what can we do so that it's more instinctive for them to use the product right?

What can we do to make it so intuitive for them to use my product or service right? Does that make sense to you? And so if you're able to do that, you will now get feedback that the product exceeds expectations. And only then do you have a solid product, right? And then also, how does your product differentiate? Right? So that product category breaks down into does your product, how does it stack up against the competition? Does it meet or exceed the customer's expectations?

does it differentiate from all the other similar products that are out there that are competing against your product, right? Is it backed by social proof? Can you back how awesome your product is by social proof, testimonials, case studies, right? If not, then it's just you in your marketing organization talking about how awesome the product is, but that's what you're supposed to do. If you are the founder, you are the CEO, you are the leader of your brand, of course you're going to say great things about your product.

You're not going to talk shit about your product. It is your job to say good things about your product. So the customers, the world, the leads out there know that it is your job to talk good about the product. So they immediately go deaf when you're talking. What they do listen to is reviews. That's why you look at Amazon. It's stacked with reviews because I want to know how a user, a customer that purchased this product or service, what was their experience like? Not just with the product, by the way.

The product is literally encapsulated into the service. Was it easy to buy? How was the support? How was it delivered to me? Was it late? Was it on time? Was I communicated with? Did anybody follow up to check?

That is all of those things are the product. And if you are able to do all of that and then back it up with social proof because you've got clients and customers who are so over, the moon excited about your product because it's so different, it's so unique. It fits, it creates such a perfect fit into a gap that existed. Now you've got evangelical fans that you can reach out to and get testimonials and put on your social media, put on your website, and pimp those testimonials out there because what actual paying customers say about your product and service speaks 10x the volume than what you say about your product. So once you say that, man, I've got a great product,

I checked all those boxes off, B, I'm good to go. The next thing we need to focus on are the people. Now, when I say we're going to focus on the people, I mean the people that run the business, right? Not the customers. And it starts with you. So check, we've got a great product now. Now we have to ask, do we have the right people in place? And by that I mean, are you the right leader. If you want to build a $10 million business with your service that you have, are you the type of leader that can get that company to $10 million? Because if you're like, no, dude, I can get it to a million or I got it to $2.5 million. So I'm just going to keep working on myself to get to the next level. You can't. Like, if you want to build a $100 million business, you have to be the $100 million

CEO. You have to have all the characteristics, all the traits, all the morning routine, the structure, the ritual, everything that a $100 million CEO has. When you are making exactly zero dollars, you have to have all the characteristics and the traits that a high-performing $100 million CEO has. That is the only way you will put your business on path to getting there, right? In other words, I'll say this in a more elegant, simple way. Sixes and sevens cannot build companies that are eights, nines, and tens. That's it. You as the leader, you are the lid, says John Maxwell, right? John Maxwell, by the way, has a great book, 21 irrefutable laws of leadership. Like, if you want to be a great leader, start there. Like, the people matter, right?

And so if you are not a level eight, nine, or a ten leader, how do you expect to get your company to a level eight, nine, or a ten? So first of all, in the people category, the leader, you matter, right? Your personal discipline. Your life structure. Your emotional discipline. Your ability to make decisions. Your ability to cast a vision.

Your ability to draft out a daily mission. Like what are the KPIs we have to achieve day to day to create the outcome that we want? When I launched Fit Body Boot Camp the franchise, way back in the day, right? 14 years ago, I was like, man, I want a lot of locations as quickly as possible. That was a very blurry, very fuzzy vision. And the reason is there was nothing quantifiable when I said I want a lot of locations as quickly as possible. But once, years later, I realized that a successful leader has a very clear vision and that vision must have what he wants, when he wants it by a deadline. Then I was like, cool, I know what I want.

I want 2,000 locations by 27. Right now, once I know that I want 2,000 locations by 2027, I now have a very clear vision of what I want and what I want it by. And I can sell that vision to my team. I could sell that vision to the world at large. I can cast a daily mission. Like we need to get this many applications in the day to sell this many franchises a month to get to 2,000 locations by 2027. And so if you were not the kind of leader that can cast a vision and then, craft a mission statement and then be able to follow the KPI's, the key performance indicators

that will help you accomplish that mission. You're always going to be part of that 80% that's struggling, that's putting the long, that's breaking even, that's frustrated, it's giving your family the crumbs. You understand what I mean? And so once the leader is the right person, then we have to look at the employees. Are your employees bought into your company, into your brand, into your vision, into your mission. If they're not bought in, they're just there to get a paycheck. Guess what? Then they're exactly that. They're employees. If you read my book, Man Up, and Man Up is all about the six pillars

of entrepreneurial leadership, of becoming a high performing leader, I talk about it, right? I say employees are like crop dusters. They clock in a little late. They clock out a little early. They do the bare minimum to maintain employment. They only work in their own little silo. They don't really care about what the other departments are doing because they're there to collect a paycheck. But a pillar number six, a high performing team member. See, I don't have employees in my building. I don't have employees in my organization. They're all team members. We're a fucking team. And we know exactly what sport we're playing. We know exactly where the field is. And we know exactly the rules of the game. And then we play that game to win. And when you're a high performing team member, you are bought into the vision.

you're all in. I know every single one of my team members here work extra hours on their own beyond these four walls. I know that irrefutably. Like I know that. When I figure out how I'm going to pay them, how I'm going to compensate them,

bonuses I'm going to give them, I factor in the fact that these are people who work beyond their work hours. Even if I told them not to, they're just wired that way because those are the types of people we hire. We hire people that are high speed, tightly wound and have like high expectations of themselves, just like me, because the leader

sets the tone of that organization, right? And so I'm looking for people who are driven by my vision that are bought into my vision. And so if they are bought in, then when there's a pandemic and the rules of the game change overnight, May 16th, when it was March 16th, boom, we told all of our franchise locations, you got to shut down for two weeks to flatten the curve, right? Well, guess what? Our team all of a sudden had a very different playbook for the game that we were playing. If they were all employee minded, they'd be like, well, I didn't sign up for this. I guess we're defeated. Jims and restaurants were getting their asses handed to them during the pandemic. We were just like, hey, guess what? We're going to be the virus against the virus. We're going to be

the pandemic against the pandemic. And while organizations and fitness franchises like F-45 and Orange Theory were tanking, losing locations at an alarming rate, not that we didn't lose locations, but they just fucking taint. They were selling off equity. And if you look at what's happening with F-45 right now, go Google what's happening with F-45. Marky Mark's not on board with it. All those celebrities who were on board with F-45, they abandoned F-45 six months ago. That company fired half of their employees from their corporate office.

Their franchises are getting shit service. Their locations are shutting down all because of what I'm talking about here. They had people that were not bought in. And so when they encountered hard times, that people were like, this is not what I signed up for, and they started to underperform. And F-45's like, well, I'm not loyal to you. If you're not loyal to me, I'm gonna fire the top half of you

that we're overpaying anyway. And that's how it went. Whereas in my organization, if something happens and all of a sudden a company or department that we created isn't working like we thought it was gonna, we just pivot. Because I know I've got the right people. So I might have to change the product,

but as long as I've got the right people, I can change the product three, four, five times. It doesn't matter. We can pivot. until we find the profits, right? So are your people bought in? Like truly. And if you want to test that, you're going to GWC your people.

If you have 10 employees, I want you to write their names down, and then you're going to go through and you go, okay, do they GWC? And GWC is from the book, GNO Wickman's book, Traction. Right? And Traction talks about a system called EOS, entrepreneurial operating system. Entrepreneurial operating system is how you run your business,

by you get rid of the organizational chart and you replace it by the accountability chart. All of my companies that I own, all the companies that I've taken equity in, I make it mandatory that we run all companies by EOS, which means we run L10 meetings. Level 10 meetings is what they're called. We have an accountability chart and not an organizational chart. Accountability chart says these are the eyeballs that I look into for accountability for this thing, whether it's marketing, sales, product quality, whatever, right? And so GWC filter is one of those terms from EOS. And GWC stands for, do they get it? Do they want it? Do they have the capacity to perform that role? Take any one of your employees right now, just start thinking of them and ask yourself,

does that person get my business? Do they get their role in my company? Like true. And it's only a yes or no. It's not a maybe. It's not a kind. It's not a sort of. That's what I love about EOS. Everything is very black and white, very deliberate. Right? Like there's a formula to financial success. If you're like, how the fuck do people pay B $100,000 for a year of coaching? Because I have a predictable process to getting my coaching clients to massive profits as long as they act on the work that I give them. Right? So you could never doubt me as a coach. When people don't sign up with me, it's because they have doubt in themselves.

Do you understand that? When people don't get coaching from me, they have the money, but they don't want the coaching. It's because they doubt their work ethic. They don't doubt my track record because I have the irrefutable amount, undeniable amount of testimonials on all of my coaching pages. And I have the track record with all my businesses, right? And so I would venture to say that that person doesn't get it. They don't get the level of work that's required.

And so they're like, man, I don't get it. I'm not going to pay this kind of money. I'm probably not going to take action. But then you look at all my coaching clients. They're all people I would hang out with, break bread with. because they're all tightly wound, high speed, said massive high expectations of themselves. Like those are the types of people I want. And I know some of you watching this might be like, dude, I don't want to be like that guy.

That doesn't even sound good. Cool, man. Don't be that person. That's all right. But if you are like, man, I feel I'm called for more. I feel I meant for greatness. I feel I'm willing to work 24-7 for a period of time to be able to then win massive lifestyle freedom. I'm telling you this is the formula.

And so take any one of your employees right now and just black and white, yes or no, do they get your vision? Do they get their role in your organization? Do they get what winning looks like in your company? If that's a yes, good. If it's a no, they already have a demerit. And then you go the W. Do they want that role? Do they want the role and responsibility they have in your organization?

Do they want that? Right? Not like they said, yes, I'll take it because I don't. I want to hurt your feelings, boss. Are they like, hell yeah. I want it. I want to do that. Like I wake up every morning wanting to do this work.

Like I wake up every fucking morning, guys, wanting to be the visionary of all these companies, wanting to take on all the fucking problems that the world is going to throw at me. All the different challenges that I have to work through. All the different things that I have to meetings, calls, like text messages, I have to send throughout the day to get this. giant machine and our leadership teams and then their execution teams below them moving, rowing in the same direction. I fucking love it.

I want that responsibility. I'm a big hell yes on that W. And if that employee is a W on the W if they're a big yes, they want it. Cool. Now you got a W and a W. You're good to go. And finally, do they have the capacity to do it? Because somebody might get it.

They get the role. They get the vision of the business. They get it, get it, get it. They want it, want it, want it. They wake up, hell yeah, excited to do it. But do they have the capacity, the ability to actually do the work to its completion, to your satisfaction. And I'm talking to your like extreme satisfaction, not like, well, it's acceptable. I'm talking about extreme satisfaction.

If your employees are a yes, yes, yes on the GWC, they get it, they want it and they have the capacity to execute, that employee is a keeper. And then you move on to your next employee and your next employee. And that is how you GWC filter your people. And if there's one no, then you have to go, look, here's what you need to improve on. If you don't, in 30 days, we part ways. And they might even say, I'm not even looking to improve on that. Here's my resignation.

I've had people tell me that. In fact, Lauren is sitting in this room. We've got one, two, three, four people in this room right now. Lauren is one of them. The day that you started with us, I did the third and final interview. I forget the guy's name and we don't need to even use his name, but there was some other guy who we were hiring on the same day, so I just did a double interview, right? And by the time they get to me, they've already talked to HR, they've already talked to

the department head and they have all the skills and traits, et cetera. I'm just doing one last sniff test. I want to see if I could sniff anything out. And Lauren and this other guy were like, hell yeah, hell yeah, hell yeah. Well, this other guy, within two weeks, wasn't two weeks? He, like, walked right into HR and was like, I quit. This place moves way too quick. This is way too fast for me.

Lauren, on the other hand, what's it been? Two years? A year? Two years. Two years now. She now runs a company for me in two years, right? Worked her way from just being a marketer for FitBody Boot Camp to now working her way up into running a company and having people that answer to her.

Look at what happens when you have very specific types of qualities that you're looking for in an individual. You will repel the wrong person and you will hell yeah, attract the right person. And that's exactly what you want. So you have to GWC filter all your people. Do your people have the commitment, the loyalty? Do they have your back? And then finally the third set of people is your vendors. Make no mistake about it.

Your vendors are also your people, right? Because you're like, well, I'm a great leader. I have great employees, but my vendors are always late with the product. Guess what? Your vendors are still part of your people. And that means a customer is getting shitty service. And that means your product or your businesses subpar. And I told you, subpar businesses do not survive.

Those days are gone. You have to be excellent or you're dead. That is how business works today. And so if your vendors are late, They're making a shitty product. The quality control is lousy. They can't meet deadlines. Then you have to find a new vendor.

And I'll give you a great example. Many years ago, here at FitBody Boot Camp, our front desk management system was called Club Ready. We got into business with this organization called Club Ready. And Club Ready is a full-on POS point of sale, front desk management for clients who walk into a Fit Body Boot Camp location anywhere in the world to check. in and get their workouts on, right? Well, guess what happened? Club Ready says, yes, we are it, man. We're your ideal business partner. We got the software that you need to build your organization. And then guess what? Their servers kept having meltdowns, their customer support with shit. Our franchisees were frustrated with them and so they were frustrated with us here at headquarters

and we felt helpless. And so, Club Ready, who was a vendor, did not have the GWC factor. right they had the W they wanted they wanted our business they certainly wanted a massive franchise to be their customer but they didn't get how fucking committed we are to our franchisees and they didn't have the capacity factor to deliver the results that we wanted they just wanted our money and so they were a two no two nos and a yes on the GWC filter so we parted ways with them as it turns out we are now working with fit pro tracker and fit pro tracker is a much better product. It is built exactly how we need it.

When we want new additions done to that software, it is done quickly and timely. And it's done to the point where I was willing to then invest in it. Right? And now I have skin in the game with that product. So in the people category, are you the leader, are your people,

your employees, team members that are bought in, to the vision and do they check off a yes on the GWC filter? Do they get it, want it, and have the capacity to perform at that level that you want? And then are your vendors on board with who you are and the vision that you've casted? If yes, then you move on to the third and final P and that is the processes, right? Because it's a good product with good people and good processes. And the product is what we're selling.

The people are the human resources. that we have and the people run their processes. Because think about this, you might have good processes and a good product, but if you have bad people, it's still going to be a shitty business, right? So the processes break down to like how the product is actually delivered, how it's communicated, the service that you give, is it consistent everywhere, right? The marketing, like there's internal marketing, there's external marketing, there's online marketing, right? The sales process of it. The referrals, the customer retention process, the customer

support process, the scaling of a business process. How do we scale this? What do we do when a refund request is given? There's a process for a refund request. What do we do like, you know, trueling supplements? We offer a 30-day unconditional like it or leave it money back guarantee on all trueling supplements. Like on day 30, you could empty the fucking bag of grass-fed weight protein, and then say, I don't like it. And then we go, here's our money back. Simple as that, right? We don't give conditions.

We don't go, well, you know, did you try mixing it with milk instead or any of that stuff? We go, here you go, dude. Here's our money back. Consistently, we have a process for that, right? And then we ask for feedback to see how we can improve the product. And that feedback is a process. So when you think about all the processes you have, service, delivery, consistency, marketing, sales, retention, referral generation, scaling, support, refunds, customers.

Like, what happens if somebody buys a product from you and it literally shows up broken in pieces? Right. Do you have a process built out for that? What do you do when someone calls yelling and screaming to the customer support line? Do you have a process to de-escalate that person, right? If you don't, then you've got a shitty business. And so when you have a good product, like you could literally say this a good product because my customers say so, the testimonials prove it, and they're evangelical about it. And then you have great people because you're a great leader.

You set the tone. Your people have bought into your vision. The vendors are marching to the beat of your drum. Everyone's rowing in the same direction. And you have great processes that are predictable. The people run the processes. The process runs the business. business and the business becomes massively profitable and it becomes an industry dominating brand,

right? And so I'm here to tell you any time that you are struggling in your business and you're like, I don't know where to begin. I don't know where to look. Look in those three areas and look objectively with all emotions aside. Look at the product. Look at the people and look at your processes. And by the way, oftentimes processes, man, they're just tribal knowledge. Tribal knowledge means, yeah, I have a process for that. Anytime someone calls for a refa, they talk to me and I handle it. When someone calls to, it was delivered to the wrong address, they call me. That's tribal knowledge.

It's not a process unless it's documented. And then I used to say saved in a three ring fold in the three ring binder. But these days, we save all processes in a CRM and on Google Drive. This way, if I get hit by a bus or Bryce, the CEO Fit Body Boot Camp, my franchise gets hit by a bus, We're like, oh shit, he had all this tribal knowledge in his head. It's gone. No, it's a process. We can then put a new human in place.

And as long as they have the traits and the GWC factor, they can do 80 to 90% of what Bryce was doing within the first couple of weeks and then learn the rest, right? That creates predictability. Right? So when you have a great product, you have a great people, you have great processes, you have predictability in your profits. And that, my friends, is how you build a multimilitariness. million dollar business. And so always remember this, that average is the enemy, that success is your

responsibility and change can take place in an instant when you decide to flip the switch.