Escaping the Drift with John Gafford - - How to start a business from scratch - The Power move Podcast EP 52

Episode Date: June 9, 2022

Starting a business from scratch can be daunting, but it doesn't have to be. In this episode of the Power Move podcast, we talk as three entrepreneurs who share our tips for starting your own business. From finding your niche to getting your first customers, we entrepreneurs have advice for anyone looking to start a business from scratch.Mentioned on the podcast : The book The Personal MBAThe Power Move podcast stands to be one of the top sources of knowledge and insights, specifically into real estate and entrepreneurship out there! Not to mention tons of coverage of topical events and insights into our non-commercial lives as well…➡️ Learn and burn Entrepreneurship from serial entrepreneur John Gafford and his band of mayhem makers. From stripper poles to the oval office, business lessons are everywhere. *************✅ Follow The Power Move with John Gafford on social media:Instagram ▶️ https://www.instagram.com/thejohnmgaffordFacebook ▶️ https://www.facebook.com/gafford2/

From the art of the deal to keeping it real. Live from the Simply Vegas studios, it's The Power Move with Jon Gafford. Back again, back again, back again. For another episode of The Power Move, I'm your host, Jon Gafford. With me in the studio, not as always, but most of the time I guess. We have him back for the day today. To my left, Colt, the Bulgarian mongoose. That's it. That's it.

You can't call him Green Bubble anymore. No, you can't. I wish you could. I think it's just the mongoose. I know. And with us as always, Chris the Counselor. How are you, sir? How are you?

Good. Welcome, welcome, welcome. So today we're going to talk about a lot of stuff. But you know, man, Chris, the counselor. How are you, sir? How are you? Good. Welcome. Welcome. Welcome. Welcome. So today we're going to talk about a lot of stuff. But, you know, man, here's the thing. Every time there's an economic downturn, if you will, like everybody is predicted we are going into. Protected. Predicted.

Whatever. Predicted we're going into. It seems like a lot of new businesses are born. Everybody comes up with an idea. People lose jobs. People lose, you know, what they're doing no longer works. So they want to open a business and what they start doing. And a lot of times people that open businesses, I mean, let's just face it, they fail. And I think a big reason they fail is because people just don't know what the hell they're doing. So today what I want to do is I want to talk about and review a book that I like and a book that I dig.

And I think you guys will get some much love out of it, which is The Personal MBA. It's a book by Josh Kaufman. And we actually have, if you didn't know this, Chris is actually an MBA. Yes, sir. So we can have that. So he's actually there. So I figure between the book, between me with the book, Connell with his high-pass education, and you with whatever it is you bring to the table, Colton.

Shooting from the hip. Yeah, just shooting from the hip. I figure, look, you're going to get some decent information. If you're ever thinking about starting a business, we can do that. But a couple things have come up, obviously, before we get into that. Man, I got back from Florida this week. Great trip to Florida. My good friend Kevin Griffin got married.

He is the lead singer of the band Better Than Ezra. And cool wedding, man. Lots of cool stuff. I mean, I love that New Orleans crew. I like seeing them. I like being around all those people. It's the few crowds that I'm in that my son reminds that maybe i might be all right maybe he might be right like we're sitting on the beach you know because everybody's there

we're sitting on the beach and you know my son's doing that standard 14 year old angst pout you know that we all know and love the low energy thing yeah dude just sitting there under the umbrella just staring into the abyss pondering his life and i was like what are you doing he's like i'm bored i'm like oh you're bored okay and i was like uh hey do you want to meet the gm of the saints and the pelicans because he's standing three feet from you and he was like what did i go yeah and uh mickey's mickey loomis is a guy i've known for several years and i was like hey mickey this is my son he wanted to meet you i'm like all right buddy i want to meet him i know i know exactly i would appreciate it at least probably yeah i know so i'm like all right buddy what do you want to ask mickey and he was just kind of like uh and i'm like you guys uh gonna sign zion yeah

supermax well i will tell you the i will tell you the funny thing about that is i finally did get to talk to mickey about something which is funny um i haven't seen him in probably a year and a half it's been since i've seen him and uh many years ago we were at a lunch in new orleans we were sitting there and for those of you didn't know i love florida state seminal football as much as most people could have you know can love a human baby and when jamis winston was coming out of college into the pros and got drafted number one we were at lunch and i asked mickey i said hey what do you think of winston what do you think of Winston? What do you think of him?

And Mickey's just like, I mean, I don't get it with that guy. He's overrated. I think he's going to be a terrible pro. And so I walked in. We were talking to Mickey and my son. I'm like, hey, Mickey, you know something I meant to ask you about? How about Jameis? And he just looked at me and started laughing.

He was like, and I'm riding him now. I go, yeah, you are. And the cool thing was he did. He's still hurt, though, right, I think? No, he's back. He's full, I think? No, he's back. He's full. Is he? Yeah, he's full OTAs. He didn't run it yet.

But the best part about it was he goes, you know, hey, man, you ever notice when you meet somebody and they're totally different than the concept you had of them? And I was like, well, yeah, everybody that ever meets me has that. And, yeah, so he's like, no, the guy's amazing. He's a great leader, great in the locker room, just amazing. Jameis? Yeah, just amazing.

Yeah, but I think New Orleans is going to have a – the problem is they have such a hangover from Drew Brees. Yeah. Yeah, it's tough. That's a tough bunch of shoes to fill, just as the way what NBC has hangover from hiring Drew Brees to do commentary. Yeah, that's true. And I think – and Peyton was there.

Coach Peyton was there as well at this wedding yeah oh yeah talking about not having a care in the damn world man sean no sean peyton was there oh sean peyton sean yeah no sean peyton yeah no cares you saw peyton manning at a new orleans event no i do i do we see peyton on the route he's always the same place we're riding mardi gras but no sean had not a kid not a not a problem in the world with Coach Peyton at all. Just zero issue. But if we're going to talk about quarterbacks, man, I don't know if you guys saw this.

One of my personal heroes retired over the week. Ryan Fitzpatrick, dude. Fitzmagic. Do you even know who Fitzmagic is, Colt? Do you know who that is? Fitzmagic. I know who he is. I love.

As a fellow Harvard student number, however, got to have a lot of love for Fitzmagic. That's somebody that just kept their head down, didn't listen to what people did and did his job. I hustled, man. He did. And he did it good. 17 years in the league, more passing yards than Troy Aikman.

You say he did it good. He did it often. He did it often. Yeah, he did a lot of it. And I think the best part about Fitzmagic was there was always that when he would come in, everybody on the team that had him at the time, one of the nine NFL teams over the years, he would run on the fields and you'd just be like, God, Jesus. Yeah, we got a draft.

Oh, God, here we go. And they would do like some amazing ridiculous half a dozen games you just call that fitzmagic that's it yeah he is he is to me the definition of grit oh he is i think i think he is almost it's so funny how i feel like in sports right now we are leaning more into the anti-heroes but the great ones like you look like right now i can't i can't go five minutes without seeing something about john daly on golf and i love that oh what an absolute legend john daly's a legend because of his behavior off the field fitzmagic is half a legend because the way he'll show up to a press conference and his work on a mic yeah no without a legendary human being so we want to see him be good at football. Yes, 100%.

And I think, for me, I'm okay with that. I'd rather see larger-than-life personalities that can take mediocre talent and make it just essential. Well, that's what I was going to say. I was going to say he probably extended his career a good couple of years purely off of that, right? Off his personality. He's a locker room guy.

Every single team he was at. Love them. You don't have to be that talented. Here's a business tip. Here's one of those business tips you don't find in the NBA books. You can have a very successful career and be terrible at your job if you have some intangibles. Well, I mean, look at who's the guy on the Heat?

Haslam? He's still playing? Like, they just pick him up and pay him a minimum. Are you guys watching the NBA? Is that something we still do? That guy gets picked up. No, I don't watch the NBA. I watch every game.

Dude, I tried to watch the game that night with Boston. That was a terrible game. Dude, it is shoot the three-pointer, nobody rebounds, nobody plays defense, and it sucks. It's a terrible game. Dude, it is shoot the three-pointer, nobody rebounds, nobody plays defense, and it sucks. It's a shooting contest. It's definitely a shooting contest, but the defense is insane. Draymond Green's out there tackling. They're not throwing him on the game.

That dude's the worst. So what he does is he gets that tech real early. So they go, we've already given him a tech. We can't give him another one. So he is a genius. He's the worst. How to just play tackle football on a basketball court he's a he's a triple single player that's what they said

though they had a they had a i saw a stat line somewhere might have been barstool because you know obviously dave portnoy hates that dude oh and he has that line it was like nine points four rebounds 27 tackles two assists i mean what do you guys feel about this golf stuff going down today? I think that. You know what, man? That's a great topic. Great topic. It's strong.

That's great. Putting yourself in those positions, I mean, Tiger doesn't need the money. But I heard he turned down like. Almost a billion bucks. Yeah. Almost a billion. It's all just Saudi fund. If you don't know what we're talking about, there is a renegade golf league coming out,

and it is funded by the L.I.V. The L.I.V. It's funded by the Saudi crown prince that apparently, not apparently. Chops up journalists. Chops up journalists, including American citizens. And has no issue doing it um publicly executes uh homosexuals and just women just yeah not good not good human rights abuse not a good but let's let me just of course that's terrible of course maybe no hey now liv is

a roman numeral for 54 which is if you shot a birdie on every hole yeah so it's liv it's cool i think it's genius marketing. I thought that was really smart. Okay. How to use that, the lettering. Okay. Live. I don't know.

It just has this kind of up. But it's definitely not live and let live. But have we looked at kind of how China has treated people? Yeah. That's what I was going to say. It's a bet. If we're going to clutch our pearls. It's a bet.

We're going to clutch our pearls by human rights abuses, which I'm fine with. Clutch your pearls. But you can't clutch our pearls by human rights abuses, which I'm fine with. Clutch your pearls. But you can't. Why do you give some things pass and some things not, right? How can you be a vegan and not understand that most grains that are farmed are killing ground nesting squirrels and all the birds and all the whatever? You're killing far more animals than you would be if you shot one cow. Yeah.

Killing thousands of animals in these big tillers or just destroying the habitats of all these places. But it sounds good because clutching your pearls is only when it's so in your face. Sure. So that's what I think is happening. We're comfortable as long as there's a degree of separation past the human rights. If you hear somebody beat their wife, eh. But if you see it on video, oh, right, like the NFL has done that.

Ray Rice is the bad guy that hunt and all these guys get a pass over time. Because there was no video. Well, you've got, I mean, they said Dustin Johnson got paid $150 million, and Tiger Woods' lifetime earnings on the tour, not obviously with endorsements and everything else, but just his earnings on the tour a lifetime 141 million so dustin johnson is getting paid more guaranteed day one than woods has an entire career i mean woods is a billionaire from nike oh for sure that's all those golf guys they got the bag from

everywhere else i think they know that they're not going to get sponsorships too though yeah temporarily because the clutching your pearls crowd and then a couple years from now it'll be fine yeah but here's but here's my question when's the last time you saw a bunch of protesters at a pga tour event zero times how many times you think you're gonna see protesters at this thing uh well i don't think it's gonna be littered i think it's gonna be littered with you know it's fine because like you said this is the new thing to clutch your pearls about this is going to be the new thing to run out on the green with murderer signs and throw red paint on dustin johnson on the 17th i'm telling you it's absolutely coming here's the funny thing john here's the nuance of that there's a gray area

because criticizing somebody from saudi arabia that could be turned into appearing racist and you always can't but can you be racist. Can you be racist? Can you be mad at somebody that's, I don't think you'd be racist if they're sexist and Have you ever not seen the term Islamophobia on the internet? Oh, for sure. Every half other word when somebody's complaining about human rights abuses, when they throw homosexuals off buildings in Syria, you say, hey, it's Islamophobia. You know, we do stuff.

So I think they're kind of in an area where it's not going to get the pushback that you think it will because it can be reframed as being either Islamophobic or racist against the Middle Easterners. To me, what's the difference between Phil and LeBron? That was my point about China. You know what I mean? Like, there's no difference in that point. If I'm in their situation, if someone waving that mean? Like there's no difference in that point. If I'm in their situation, if someone waving that dollar in front of me,

I'm taking it. I'll take the back because you can go do good. Well, Cole, you'll pretty much sell out for like what? What's the number? 12 bucks? Yeah. Like 13? Yeah. A taco?

Just give me first class tickets on, you know, Spirit. Spirit Air. Very good. And I'm good. Which they do have. The big front seat. Shut up, dude. Oh, the big front seat. I've never been on Spirit. Spirit. And I'm good. Which they do have. The big front seat.

Shut up, dude. Really? Oh, the big front seat. I've never been on Spirit. But no, I think that people just sit there and, you know, everybody talks big game, but you start throwing $200 million in front of people. That's a lot of money. I'm not throwing that down.

Well, let's get back to what we're going to talk about today, which is, obviously, look, man, if you're looking or thinking about starting a business, I recommend starting with this book. I think it's a great way, The Personal MBA, but you need to learn some business basics, man, the basic concepts of how to run a business, the basic ideas behind what makes business go. Because if you don't have that, you're going to find yourself getting buried. And I often go back, just to let you know how I use this book, is I often go back to it and it kind of asks some basic questions that I then propose to all of our companies that we own. And I like to do that on a regular basis, not just with me, but with the people that work there. So we can all

have a clear, concise idea of what we're doing, not just for the business, but for our customers, for the community and for the bottom line, because I think that's important. So let's just start out with some, I'm just going to start hitting out here and we'll just go from there. So some key insights from this book. Number one, the core function of a business is to provide value to customers. This is it. You got to be building value for your customers. And if you're not building value, you're not doing anything. And customers decide to part with money when they understand that what you're going to provide for them is worth more to them than their money. And that's it. So this is where I did a post the other day where I said the biggest problem with entrepreneurs is they fall way too in love with their own product.

Like I have this great thing. People are going to love it. It's amazing. And I'm going to do it just because you find value in it. The key to value is it is subjective. So if the masses don't find value, or if you're doing something for a niche, if the majority of that niche does not find value, you're going to have a problem. That's what we call Chinese math, right? Right. Say if I can get one person in China, one out of a thousand people in China to buy it, I'll have a million customers. If one out of a thousand people who love cats or whatever buys this cat calendar, you know what I mean?

All I need. There's a billion cat lovers or whatever. Well, let's talk about that because a lot of times I would rather invest or I would rather get into bed with a business that is in a proven field. Like when I get pitched all these, this is going to, this is, I would rather hear this is going to disrupt the market than this is going to create a new market. This is going to revolutionize. This is going to change how people oil bike change. And I look, you know, it needs to be something that somebody out there is doing. Now, the best way to start a new business is to find one that is already doing well in a sector,

whatever that sector may be, and then study it, try to figure out where the pain points are for the customers and improve the service or improve the product. Right. Totally agree with that. I mean, and like creating value,

right? Like that's why people will go and spend, you know, 500 a plate somewhere for a really a tiny little thing, because you're getting so much value from that. You know, you're getting the customer service. You're getting that, everything like that. You get to be in the place with the cash. So you're creating that value.

And that value could be something like a Costco where it's like there's no customer service, and here you go. You get a bunch of shit for cheap, right? Like it doesn't have to be the same exact type of deal. Yeah, values and the eye of the beholder. A gallon of maple syrup is far more valuable to you if you run a restaurant than it is showing up at Delilah for whatever. Sure. The worst baked Alaskan possibly ever made.

Yeah, really? I don't like the baked Alaskan possibly ever made. Yeah. Really? Terrible. I don't like the baked Alaska. I didn't like it either. It was really gross. Everything else was okay, but the baked Alaskan was.

I loved Delilah. I thought Delilah was great. But here's the thing. I always say, too, if you're developing a product, get it out. Like, I always tell people, you know,

I've seen, I've mentored some people and dealt with some folks that were building websites and they're like, oh, I just don't like it. Get it out. Get it out. Get it out. Like I always tell people, you know, I've seen I've Mentored some people and dealt with some folks that were like building websites and they're like, oh, I just don't like it Get it out get it out get it out. If your product is not out in the marketplace. It's dying Right and also I would say this is why I love Kickstarter I love these products because you can build one of something and then you can go on Kickstarter and start to market it and see if Anybody actually wants to buy your product or service like the mistake people make is they're like okay i need a hundred thousand dollars so i can open this uh mongolian popcorn store right that's what i need the build-out is going to cost me a hundred grand for my mongolian popcorn exactly whatever it is

but that's what it's going to cost. It's going to cost me 20 grand. When in reality, what they should have done was they should have gone out to someplace where there's food trucks and set up a little card table and started handing out Mongolian popcorn to see if people even like it. Go to start off at the food market. Yeah, to see if people even like it. Go to the farmer's market and see if they even like it. Cooked over rubber tires.

Right, but no, but exactly. But people like people would rather people would rather go open the damn store without knowing if anybody likes it. And that's why, again, I've talked about the bottle of vitamins I have on my desk. I've made that mistake. We spent one hundred fifty thousand dollars on a bunch of vitamins that nobody wanted. But we nobody wanted. So moving on from there, the second one is businesses must make the right people aware of their products and service. If you are not good at marketing

or don't understand how marketing works, you need to partner with somebody that does. You need to get in bed with somebody that does. I mean, this includes Google, online, social, all of these things. You need to look on Fiverr, look on Upwork, look on all these places and hire somebody to handle this for you.

Or within your sphere. Ask people you know 100%. Because, again, if you are selling baby cradles, right? And that's what you're selling. And you're marketing it to single people that are part of the I'm never going to have kids club. Wasting money. You're wasting your money and I'm never going to have kids club. Wasting money. You're wasting your money and you're not going to get anybody there. But also it has to do with timing.

You need to market your product to people when they want to buy it. This is why in real estate, I love there's a service called Rebo Gateway that I love. If you're in real estate, it's awesome. You should use it. If you send mailers, you should use Rebo Gateway. Again, I get nothing for this. It's just a product that I like. And what Rebo Gateway does is it looks for life events

that would cause people to move. New births, deaths, divorce. The tragedy triangle, if you'll call it. The trifecta. Well, not the birth part. Not the birth part. That's not tragedy. But it looks for life events that would force people to move.

But it also looks for, say you're going to farm an area or a neighborhood, and it says, okay, what is the average amount of time somebody lives in that neighborhood? And if it's 6.5 years, you can then extrapolate and pull a list of everybody that's lived there for five and a half years on. Because, again, why would you send a mailer to sell your house to somebody that bought one three months ago? It doesn't make any sense. So being targeted in your mail and understanding

how marketing works or more important, targeted marketing is essential. Knowing your customer is huge. And I don't think that, I don't think people comprehend that. I had a call yesterday with somebody. I go, who's your customer base? Well, people that come to me, who are they? What age are they? Where do they live? What, what you know all this kind of stuff because if you're trying to take something from this side of town go complete opposite side your customer base might not follow you you know and they had not a clue i go you don't know where people live right you don't know nothing no well i think you know if you're going to do marketing as well i think understanding the message is so important so many people fall flat. You know

For example, let's say that we're selling diet pills, right? That's what we're gonna sell. All right, sell me a diet pill Chris I'm just curious. I want you to sell me a diet pill on the spot. Sell you a diet Why would I want to buy your diet pills? What's it gonna do? Well, it's about what you need from the diet pill Okay You have to I Wouldn't say why do you need a diet pill? Have you tried working out? Jesus. Okay.

No, I don't want to do that. You're selling diet pills. You believe in diet pills. How long do you work out? We're not pivoting. That's not the question. The question is. So you tell me how often you work out.

You don't. Oh, so then what's the only other way you're going to get what you want to do? My point was this. Too many people like to sell the technical facets of what their product does. For example, if you're selling diet pills, you shouldn't be selling the fat is going to metabolize and it's going to come out of your lip nodes and this and that. It should be get back into the jeans that you wore in high school. That should be the pitch. And that's my whole point.

I get where you're going with it. You're like, hey, do you want to work out? No. Well then how else are you going to fit your goals? What do you want then? I want to be in shape without working out. Well, guess what? Right. Yeah. No. And that's even in real estate, man. There's so much of that. There's so much of that when you're showing houses, there's so much of that when you're, when you're trying to sell houses, you know, whenever I teach all the people that work for me when they're not showing houses i ask they ask this question at the end of every showing can you see yourself see yourself living in this home because i want them to stop and imagine what it would feel like to live in this house i want them to i want them to be mentally

placing the couch or the furniture and if it doesn't work it doesn't work but if it does work that's how you create emotional attachment to the product that's how you get them to move from step from this step to the next you've got to create that emotion when i do an office building with a business owner yeah my two stops in there are the conference room and then the executive office do you do the. Do you do the same thing in there? Can you see yourself holding meetings? No, I sit there and go, wow, you could put a cool. Wow. Wow.

Look at this. But sometimes you can get into those. I'm like, man, you could have an awesome set up over there. You could bring people in. You could have a coffee machine right here. You can sell them like this is a badass office right or you know you you you can because you need no like if somebody's sitting there and they're young and partying go stand by the pool and talk to them like oh man can you imagine all the freaking parties you could throw out here yeah buddy

no but you you've got to find out what ticks them right and then play that yeah what do you whatever no i agree but when you have it when you're going to sell something it onto our next little You've got to find out what ticks them, right? What do they want? And then play that. Yeah. What do you want? Whatever. No, I agree. But when you're going to sell something, onto our next little insight, which is closing a sale hinges on demonstrating the value of the product or service. Now, there are really four ways that a business can support its pricing decision. There's four, right? There's replacement cost, market comparison, discounteded cash flow or the value comparison okay so when you're going to price your product you're going to put a product or service whatever it is

let's pretend we'll stay with real estate because our services we put in the marketplace we talked about that you've really got four ways you can do it with real estate it's really probably three not even the four because replacement costs you can't really say well i mean you could because you can pose it to people replacement costs with us not necessarily in the house but i'm talking about for our services but for our services using it so replacement costs with us is i would say how that would fit into real estate would say like look you can use somebody else but again how much do you want to walk away from the closing table with you know you're you're demonstrating a loss to them that they would have to... Using you is going to

get them more than somebody else. The replacement cost on using somebody else would be greater. Yeah, it's a negative. Or replace it with somebody else is negative. Yeah. You replace yourself with attorneys. Like, all right, how many emails and phone calls and stuff? You're going to try doing this? There's market comparison, which is basically, here's all the other products in the market.

Here's why mine is better. Right. Here's why my service is better. Here's what I do over and above. This is why my widget is widget-ier than your widget. That's why people don't understand about real estate. There isn't a fixed amount of commission. No, there's not.

There's not a fixed commission. People always say that, right? Well, we're going to get to that because that really comes in. The views of the power move never, ever underestimate the value of the chairman and the anti-trust act. No fix. No fix. And you've got to know your market, right?

If you're trying to push something out in a different market, it's like alcohol. Let's take simple, you know, a drink. A drink in Utah is $6. A drink in Vegas is $18, right? Same drink. If you're coming from Utah, you're like, oh, man, I'm going to put this for $8. I had a lady. She's like, oh, no one's done this.

I'm opening up a champagne room in the casinos. You can buy a bottle for $30. No one does that. I go, do you know why no one does that? Because it doesn't make money. You can't pay your rent, right? Because it doesn't make money. You can't pay your rent, right? Because it doesn't make any money. Where she was coming from, all day long, she sells a bottle of 30 bucks and she'll pay rent and whatever.

So no, also market comparison that way too. No, I think when you look at discounted cash flow, when you look at that, people are like, what's discounted cash flow? That's like where you say for a dollar a day, you can do this. You know, that's the, that's always the big pitch of the charities for $1 a day. You can do this.

So time, time share mistakenly use this pitch all the time. And they tried to do it to me one time. And I understand this kind of cashflow. They talk about, well, you pay for your vacation now. So you pay for a hundred thousand dollars for this piece of time share. But over time, you know, things go up in value, blah, blah, blah. I go, no, well, you pay for your vacation now. So you pay for $100,000 for this piece of timeshare.

But over time, things go up in value, blah, blah, blah. I go, no, no, no. But you're now, like, the way they do it, they try to present it as a discounted cash flow. Like, a dollar today, a dollar in a year from now is worth $0.91. Yeah. Right? So I'd rather, you could have $0.91 today or $1 in a year.

People don't understand that those are equivalents. Yep. They say, no, it's a dollar. No, no, no, but it's only going to be worth 91 cents a day. What it can buy. What it can buy or what it's inflated value, what you can put in the market and invest it at, what would your nominal return be? So the discounted cash flows, if you buy this now,

you're going to save yourself money in five years or whatever. That's probably what he means by that, to say to understand that it's being priced based on the future value of something yeah right and then and then of course the number one way products don't normally come to market is the value comparison right so they come and really man you've got you got a couple choices you could do here you know if you were if you were gonna if the whole pitch of your product is it's cheaper than every other product, I mean, good luck. Because there is such a thing as perceived value. We've talked about it on this show before, talking about sometimes you've got to price yourself into a place where you build some scarcity.

You build that. Like, for example, if you go to Gucci and buy a bag, you're not buying a purse. You're buying the way it makes you feel when you walk around with that Gucci bag. The way you think others perceive you. The way you think others perceive you. That's the value you're buying. So, you know, especially in this business, like you said, there's no set commissions,

but it seems like there seems to be an arms race to the bottom. And one of the things that our brokerage I've always said is, you know, we will never see, you know, look, there's no fixed commissions, but I can say what my agents can and can't market. And I've always said, you're never going to see my logo on a billboard

next to the sole driver of your offering being price. Zero chance. I have no interest in that business model whatsoever, none. And I've had people that we've talked to that wanted to come here and want to do that business model. I'm like, we're not your place. Well, because have you ever dealt with them, by the way? No. Have you ever really spent some time working with people that give you the discounted model?

Or the people that are offering the discounted model? Yeah, no, no. No, for sure. For sure I have. Like, for example, when I run my marketing, my Google AdWords, which, you know, for my real estate team, which is, you know, it's a lot. We run thousands and thousands and thousands of dollars a month to generate the sales that we do. But I have negative keywords. I think negative keywords are more important than positive keywords.

So if somebody types in the word, like, deal or foreclosure or short sale or discount or fixer-upper, like, I don't want to deal with those people. Those are the people that want to buy 70 cents on the dollar. That's not how I'm looking for it. Cause those are investors that are looking to flip or make money. I'm looking for people that want to buy luxury homes for them and their families. Those are our clients. To live in and make a home. Yeah. Those are our clients. Those are our clients. And that's who we look for. And if you're getting into that and you're not wanting to be there, it's because you're not setting yourself up good enough you're not presenting yourself as value i mean we have people that will not come off of what they think they're worth right and they're there's some big commission checks cut

and they just stick to it where everybody else is like i'll do it for percent less i'll do it no all right cool go with somebody look everybody's got their everybody's got their own kind of way of doing stuff there's always a discount model there's always a premium model there's always a kind of hey uh you know you know well here's here's the the next one i think is more important than anything we've talked about this point because it's what's missing from the majority of businesses and what really has gone missing since covid which is a successful business delivers value to its customers, right? Customer service and value. Now, for me, for me, the most important thing,

when I look at a value proposition of a business, the most important thing, hands down, is consistency in product. That's it. I want to know that I can get the same product if I buy it, go to this store. That's why McDonald's is so successful. That's why McDonald's, they are, it doesn't matter where you go on the planet the big mac tastes the same it just is what it just does um curious enough though they do change it for the regional markets now oh yeah they do they change up so what they do is they won't have a big mac they

don't have a or like they don't have it in certain countries or cultures yeah right but if the product is called the same it's the same product. Well, they call things different. So they have burgers in like Lebanon, I think they call it the juicy burger. Okay, but... Because languages don't make... Because there has to be some sensitivity. I'm not trying to be pedantic, but sometimes...

Pedantic? Yeah. I know what that means. Triple that word score. Explain that. In India, they don't... Look at Colt. Colt's calling to the google machine

p-e-d-a-n-t-i so in india they don't have it right because obviously they don't eat meat as a culture did he say p-e let it go colt that was like two minutes ago just assume it's a word but anyway they do they do have changes right quote uh you know pulp fiction or whatever but yeah the royale with cheese with cheese that's true but again i think that you know, Pulp Fiction or whatever, but the Royale with cheese. The Royale with cheese. That's true. But again, I think that, you know, meeting or exceeding your customer expectations is so clutch and so important to what you do. In the brokerage business, of which we're in that business, you know, it's so hard and

so difficult to constantly try to exceed your agent expectations. It just is. And it gets harder every single day. And we're constantly looking for new ways that we can improve that from our service businesses, which are a mortgage company and our title business. We're always looking for ways to make our customers' lives easier, better, faster, more efficient. Because if you're not doing that, if you're not focused on getting a little better every day, now granted, there'll be problems within the workflow that they call acceptable problems. You're going to have some stuff that's like,

okay, well, that's just going to happen, and honestly, trying to fix it would make it worse. You know what I mean? That's half your business model is the vertical integration and bundling. Yeah, it is. It really is. And that's to provide customer value. But the point is, I think one of the reasons that we've been so successful with the stuff that we do is because we're always trying to get better.

We don't ever rest. I mean, I was on the plane coming back, and I'm looking at the – I always pull up the stats. And still currently, this office for real estate in Summerlin, this office is number one in the entire MLS, and Summerlin is number three. And every time I see that, half of me no no half of me is very happy about it and half of me is like how do i shit how do we stay here yeah how do we stay here because dude here's the thing about being number one he's coming after nowhere to go nowhere to go but down so you know that's the idea is you spend so much time trying to get there and then when you you get there, you're like, man, how do I stay here? And so I actually, I would find that I work harder now on ideas and concepts for this business to make it better than I did on the way up.

Like I'm fighting harder to stay here than I did to get up here, I think. It's kind of funny, like in the NFL football teams, they're saying, hey, Jimmy Garoppolo, why don't you take Trey Lance under your wing and mentor him to become your replacement? No. No, I'm not doing that. No. No, thanks. I'm number one right now. And that happens a lot, right?

People sit there and there's a difference between like you guys, people will help you out. You know, you can go pick out your competitor and just talk and whatever. They'll give you some stuff. They're not going to give you everything, but they will give you some stuff. And a lot of times, sometimes you have to kind of follow

your competitor. That's interesting, man, because that brings me up. And I can tell you the people that do the best in any industry that I've seen around are so free-flowing with their ideas and what they do they don't care because execution is far more important 100 because yeah you can sit there that's the i mean every real estate the weekend getaway is the same thing cold call hit your spear you know it's it's the same it's the same concept right there's no magic just

effort they just know execution in sales is personality yeah right like how good how good a listener are you how much do you care about people i can see right through people that are trying to sell me something oh yeah when people give a shit about me i care about them yeah it's a natural human psychological instinct you know let me ask you a question because because somebody i saw somebody the other day and it's a dude that I've called out for saying dumb shit before, but a dude call him a social media influencer, whatever said,

not, not the one you think a different one. Um, this guy was standing in front of a bunch of, a bunch of people. And he said, and he was wearing his, you know,

affliction t-shirt or whatever the hell he was wearing. And he was like, you know, and he was like, you know, man, people would come to these seminars sale these sales seminars and tell you you need to wear a suit you need to dress up look professional i'm not i'm not gonna tell you

that because people want to do business with people that are real that's who i want to do business with and i'm like i heard that i'm like bro that might work if you're selling solar yeah but like in the business that we're in you're professional dude this is the most expensive thing people will ever buy you need to look the part when you show up if you're there's no like i'm gonna keep it real and wear my you know kid rock t-shirt because that's what i wear the only time you know dude no look like a professional somebody was saying it's like i want my pilot to have gray arm hair that goes over his wristwatch yeah i want my account i want my pilot to have gray arm hair that goes over his wristwatch yeah i want my account i want my accountant to never ask me to go for cocktails ever i want my accountant to just

be the most boring human being alive i have that suit it's great a monochromatic black or white i have that guy tan suit i have that guy that is the end of the conversation really weird shoes with the tassels no no the loafers with the tassels when i talked to my accountant his voice never it's just straight monotone the entire time it does not there's no there's no inflection whatsoever you're like hey just don't ever change never and never i love you stay you stay you you have to stay you in anything you do but you have to also dress apart right like right now if you're watching this i am as dressed as you'll ever see me but it's just because i came from internet people i'm just gonna say, if you're watching this, I am as dressed as you'll ever see me, but it's just because I came from internet people. The fact you're not wearing pants is a little sorry. It's a little weird. They internet people. They like my, I mean, by the way,

if I was a Batman, I would have said boxers. I thought he had, I thought he had salmon tights on. I thought he had salmon Lululemons on. No, he's got a onesie on. It's underneath his crotch. No underwear today, guys. Salmon Lululemon. You know, I dressed down today, but I'm sat here. I'm like, oh, my God. Do I have time?

Nobody's going to. But I feel so underdressed because people go. And how do you do million-dollar deals to people and expect them to be okay with you in a T-shirt or flip-flops? Here's the thing. We have a relationship, though. Okay, let's back up. Like today, I am wearing a jacket, I'm wearing a t-shirt, and I've got tennis shoes on. But I look very put together in what I'm wearing, right? I'm not wearing a suit, but I look put together today.

There's a difference between… You look like you intended to put the clothes on that you had. Yes, it's 100% intentional, well thought out. There's a difference between. You look like you intended to put the clothes on that you had. Yes. It's 100% intentional. Well thought out. It wasn't what was clean hanging out in the hand. Oh, God. Oh, God.

That's not what we're doing. All right. Moving on. Savvy business owners carefully manage how money flows in and out of their business. So what would you think? Let's, again, let's pretend that we have a. What do you think are the most important ways to manage your bottom line? Connell.

Oh, having an appropriate bookkeeper. I think that's clutch. I think, um, you know, understanding where the dollars are coming in and out. And that sounds facile,

but have you actually ever signed up for one of those things that cancels things that you're not using? Yeah. Or you ever had a kid, you know what? Can I tell you this? This was one of my proudest power move moments ever. I don't even think you were here when we did the how to recession proof your business i was here for you're here for that yeah you might have left early we did that how to recession proof your

life is what we did we talked about one of the things we talked about was losing your credit yeah because you said you'd rather get kicked in that's why i was like that's what i'm saying no you were there right francis gano no mikey Mikey Gordon came up to me and said, you guys saved me $285 a month. On stuff. From stuff we told him to do. One of the things that he was paying for, I'm going to out him on here. Sorry, buddy. One of the things I'm going to out him for, he said he was paying $40 a month for American

Airlines Wi-Fi, and he hadn't been on a flight40 a month for American Airlines Wi-Fi, and he hadn't been on a flight in a year with American Airlines. You don't even know. You don't even know half the time. I go back and look at my statements. I go, well, this is fraud. Oh, no, no, no. It's just something that's a relic.

It's the detritus of a bad decision four years ago that I just never followed. And it could be something that got you to where you needed in your business a year ago. And you don't need that anymore, right? Like people just keep adding to their business costs on, well, this marketing worked. Well, maybe you're not marketing those people anymore, that group anymore. So maybe switch, right? Like that. I see a lot of that where people are sitting there throwing away money on stuff that worked for them three or four years ago and here's the stuff that i see is number one understanding cogs cost of goods sold understanding how much it costs you to produce whatever it is you're doing and if it is your time let's say you're a hairdresser that does extensions you need to understand how long that

takes you to do you're like your time is your investment right you're swapping time for money but if you have a store and you're selling shoes, understand how much it costs you to buy the shoes, what rate at which they fly off the shelves and how much you need to sell it for. Because here's the problem. A lot of people, a lot of people don't understand that if you, this is why it's so important to test market your product first and see what the market will bear based on how much you can sell it for. Because if you're looking to just say, well, I'm going to buy product X and market up 20%, well, what if the market won't pay 20%? Or what if- Well, now you're screwed.

20% doesn't cover rent. Yeah, yeah. What if the margin isn't enough? So understanding what the market will bear for a product, then understanding how you put into it is very difficult. Like that's why, you know, restauranteurs, my hat's off to you, with the constant crazy changes in commodities over the last year between chicken wings and then produce and everything else. I mean, God bless you that you're able to manage that because it was always pretty consistent. You could look at, you know, you look at product mix of how much of each item you sold, what it costs to make that item, and you come over your food costs.

But you could see this. But like in restaurants, you have, what it costs to make that item, and you come over your food costs. But you can see this. But like in restaurants, you have the ability to then pivot and say like, okay, we need to lower our food costs. We need to sell more of this item because this item makes us more money and you can push that item out front, which is so funny.

I never understood when I was in the bar business years ago, and it's changed a lot, but like when I was in the bar, one of the bars that we had was like, I mean, it was a dirty bar. It was just a bar, right? And I'm like, when people come in and they order a vodka tonic, you don't ask them if they want Grey Goose. You pull up the $4 bottle of Popov and you pour it off because I make more money on that

dollar less drink than I do on the other one. So pour the cheap stuff. I want you to pour the cheap stuff. Yeah. Cause it just, the way that it worked out with the cost of goods. The second thing I would say is understanding your labor costs. And if that's you,

and one of the biggest mistakes I think I see people make is they make bad hires in their business. Maybe they'll hire somebody that's not suited for the job or too many. And then they will try to prop up around those people. Yep. Like, Oh, this person might's not suited for the job or too many and then they will try to prop up around those people yeah like oh this person might not be good for the position so ah they're really running behind let's get them an assistant let's get them let's get an additional helper for them and all of a sudden it's like it's like you wind up just with this giant band-aid that'll blow your labor out sometimes it's better to have an uncomfortable conversation with somebody and

say hey look you're not suited for this job, but we're going to move you over here. Or maybe they just go, and they get somebody more suited for those positions. Absolutely. But having people around that you don't need is a killer in business. It's why I love outsourcing. You talked about that, actually, in one of the last podcasts,

two podcasts ago. Did I? Yeah, make yourself invaluable. Yeah. When a recession's coming, make yourself invaluable. Make sure that you're able to do the job of 1.5 people because they may, you know, they may have to, they may be 67% of the amount of people hanging around. Yeah. No, you absolutely may have to. So there's no question there. Yeah. All right. The next one is understanding basic human psychology should inform business strategy.

I don't remember where they were going with this, but I'm going to say I'm just going to read something. Well, I mean, I think that's the most important one, period. Oh, I got it. I see what they're saying. I see what they're saying. They're saying is basically make it easy on people. And understand how fear and greed work together.

Understand those basic concepts of what drive people to make. Yeah, fear and greed. Those things. That's how all image-based stuff is, is FOMO. Have you ever actually went out and bought something that actually improved your life? I don't want to throw you under the bus here, but have you ever purchased something?

That improved my life. So every time you make a beautiful purchase, right? Let's say you buy a really beautiful car. Brand new, beautiful car. Oh my God, what a beautiful car. Driving that car, I don't care what it is. Talking about the experience, you have to be a real geek before that experience is that much better than like a new Toyota Corolla. I'm dead serious.

Yeah. I'm talking about if you drive the nicest cars. What's up? The Snuggie didn't make my life easier. But I'm saying, so if you're a car manufacturer, you have to sell image and all that stuff. But at the end of the day, what does a car do? It's getting you A to B. Yeah, that's all it does.

But that's all it is. It's status. That's what Starbucks did. That's what Rolex did. That's what Gucci's done. That's why you don't see these guys being at Ross, right? If they don't sell it, it's not going to a discounted store. at the Ross, right? They'll just want it. If they don't sell it, it's not going to a discounted store. It's done, right? Like they keep that brand discount,

Louisville, understanding, understanding the psych of somebody's when they're walking into your store, right? Like people need to understand when they're going to a mechanic shop. If I'm on the mechanic shop, I'm going to make sure that I'm super honest and super open with them because I know they're coming in with that psych of, Hey, these guys are going to rip me off. Right? Like,

because everybody goes to a mechanic thinking they're getting ripped off. Right? Like, but I think they do. Right. Like, I think that's what people come in. That's a value proposition.

Yeah. Honest mechanic. Right. Yeah. But here's the, here. Yeah. Honest mechanic. Right. Yeah, but here's the problem with honest mechanic. If you call yourself honest mechanic, people don't believe you. They're just immediately assuming. It's like I hate.

Honest Charlie's over here. No, no. I hate in sales situations when people say, I mean, let me be honest. Let me be honest with you. I expected you to be. You've been bullshitting me the whole time? I presume you were honest. I hate that. If that's. Let me be honest with you. I expected you to be. You've been bullshitting me the whole time? I presume you were honest. I hate that. If that's part of your pitch, kill it.

I think that if you ever say that, you need to understand that that's a horrible tick. Oh, it's awful. If you ever have that tick, focus on it. Stop saying like. Don't say um. Pause. Instead of saying those things. I need to work on it, too.

And then never, ever say, say i'm gonna be honest with you yeah because i already i already assumed that we're still talking happening that was that's a baseline of human you know communication that you're not going to present me with falsehoods consistently so the minute you start saying that we switch to gear yeah i think that is one that you eliminate that yesterday i i agree next, business owners should always look for ways to improve their productivity or boost it. Now, this is done very simply, a couple of different ways. And really, this is about measuring and goals is what this is about. If you open a business, you absolutely have got to have some sort of goal and some sort of trajectory plan.

You guys laugh it up, laugh it up, but this is one of the things I've – it's one of the things that I learned at Hooters of America way back in the day. Hooters you, baby. When I was a Hooters manager, which was the 30, 60, 90-day plan. And we always had to have these every quarter turned in. What our goals were for 30 days, our goals were for 60 days, our goals were for 90 days. So you always understood what you were working on, the trajectory that you were on. Every time – with my team now, we do a one-page business plan. We change it, update it every quarter.

The reason it's one page is because if you do this long, elaborate 30-page thing, you're less likely to pivot from it. If it's one page and something's not working, you're like, okay, screw that. Let's move on to this. I'll push back just very slightly on that. Have the 30-page business plan at the outset

and then update a one-pager. You need that. Update your one-pager. There's a difference between being a salesperson and an actual business owner. As a business owner, you absolutely better have business plans, decks. Know your market. Know your market. What time you're going to do it.

Projection. One-year, a three-year, a five-year projection. You better have all that ready because people think, oh, I can go open this store. It costs 2000 a month. Cool. All I need to do is sell this many shoes. I can do that. Bam. Well, no, you don't realize you have insurance costs. You have, you know, you have taxes, you have all that stuff. So no, if you're selling that, that goal of all I need to do is break even on 2000, you don't run a proper projection, you're going to be out. Dude, I've known a couple people that had some really successful businesses

that ended up getting closed down because they never bothered to pay their sales tax. I've known that to happen. Do you know what the number one reason new businesses fail? Tax. Success. Yeah. Failure to cash flow manage. Because here's the thing.

If you have a graphic, you look at these periods where someone's in the black versus when they're in the red in cash flow. People consistently get squeezed out of their own businesses because they need to purchase more inventory than the sales. And they'll have lagging or net costs or net payment dates or whatever. So a lot of these businesses are net 30 days, net 60 days, 90 days, but you needed that inventory yesterday. So you now have to come out cash again, cash again, you're taking loans. And it's cash flow management that crushes a lot of successful business. That if they had better cash management or projections, they could have either realized they needed more money to get past that crunch. If they projected out a successful trajectory, right? They go, look at all this money I'm

bringing in. It's great, but it's on paper money or it's ars or whatever yeah counts receivable for those of you don't know it counts receivable well it's a lot uh cheaper get you know some money and keep it going and have it planned out than calling somebody say i need this money by four days yesterday yeah never yeah if you're making phone calls asking for money i need this money tomorrow i mean you're interested you've messed up money, I need this money tomorrow. I mean, you're interested. You've messed up something. Yeah. No, I agree. Next one.

And this is clutch, man. Successful business owners create supportive work environments that inspire rather than force other people to work hard. Now, what I said, I saw a thing earlier that said, what did it say? It said leaders, as great leaders reluctantly lead is what it said. I get that. Meaning that no great leader set out to be a leader. They just reluctantly were the best person for the job.

And I think if you're an entrepreneur I think you fall into that category. I don't think anybody wants to be an entrepreneur to be the boss. Or any successful entrepreneur. People that want to be leaders frighten me. Just like that's for the same reason it's a politician politicians scare you it's the same shit because i think leadership comes naturally i think you have it in your genes you're so um averse to failure like look at the six i hate to go back

to sports all the time but there are natural leaders that emerge through locker rooms and it's their actions on field it's their behavior and it's how they conduct themselves, right? Is Draymond Green a leader? He is. No, he is definitely. They call him a glue guy. He's a spark plug guy. He's adhesive.

Every single person in that locker room loves him, and he'd go out there and he'll go to war for his people, right? Because his actions. He takes actions that evidence his leadership. It's not bloviating. It's not hollow words. You don't need to be the top sales guy to be the best manager, right? Sometimes those guys are not the best managers.

I think if you own the company and you're the owner, one of the hardest things that you've got to get over, and a lot of first-time entrepreneurs, first-time business owners, have just got to come to grips with this, which is it's a mental thing because it's not real. In your head, you're going to think, nobody will ever, like, why can't you just do it the way I do it?

Why can't you just care as much as I care? Why aren't you me? Why aren't you me? Nobody is ever, ever going to be you. Ever. They're not going to be you. Stop trying to pretend somebody's going to be you. They don't have the value if they're you.

Because here's the thing. If somebody is really close enough to being you to be you you they're going to rip you off and take your business down the street sure let's face it so just come to grips with that right now that nobody is ever gonna be you you should never even want people to be you so i i one of my uh a couple of my friends of this company in town called foodie fit. They make wonderful prepared food to go health conscious, just really wonderful stuff. The chef of that company is this guy, Bo,

and he is not a salesman. He's not a marketing guy. So he brought on two other guys. One is a crunch. The numbers, you know, brilliant administrative, like business minded guy.

And the other is an absolute social monster. Loves to get out there. Loves people. It is a, that's why they're successful. Yeah, it's a win-win. They got a guy who's doing this thing that they need to make the product.

They got another guy who's managing it appropriately who doesn't need to go out to the events. If you're all the same, then you don't need a partner. That's right. Guys are making relationships and they're getting relationships with a bunch of people I can't say. But I think it's more than just the partners.

I think it's got to go down to every employee. Every employee has got to feel valued. They got to feel like they have input into the product. Because if you want people to buy into your company, help them craft the vision and the idea of where the company is going. And that's great leadership. But I think if you can do that, I think you have a great culture. And I think at the end of the day, though, people sometimes forget that your employees aren't necessarily going to love their job. And depending on the industry, that's why they're – it's unfair to expect people to – in certain industries.

If you're in Tesla, you can sell the vision that we're saving the planet, whatever, whether or not you agree with it, do carbon footprint measuring, whatever. But with Tesla, you can say you are saving the planet from fossil fuels. That is an objective you can get behind. It'll get paid well. I can see why people will move cross-country to go work for that company. Or there's this business that does whatever, but they treat people so well. We'll take care of your child care on site.

We'll do all these things. Those are those cultures. Or Dan Price's company. Do you know him? No. He's the guy where every single employee makes $70,000 or $80,000. Oh, yeah. I do know that.

So I met Dan one time. We were chatting at one of these events, and he's just like, yeah, it's more than enough. Now, he's obviously the owner of the company. Sure. But he works at it. He does all this stuff. Every single person, he doesn't make this CEO compensation of millions of dollars. He makes the same 75 grand as the administrative staff, whoever.

Everybody in there goes, okay, this is now a team I'm truly a part of. If you're paying somebody $15 an hour and they're making food or whatever, it's hard to get on board with this vision. You need to make that rice better. You can make their life easier. That's what you've got to figure out.

If somebody's there and you know they're there because they don't want stress, don't add stress to them. If somebody's standing there in a line making food, go buy them a freaking rubber mat that's soft underneath right like you can do stuff to let them know you you you care about even though there's not there's not always a vision to everything right like a lot of times the vision's like this is just your job but you can make their job whatever they're there for right in our industry like, real estate professionals,

all these people, those have to be self-motivated people. They have to be, they're working at a high level and you need to make sure that they know you're there to support them. You're not there to go out and do their job for them. And they should be on their own, their salespeople, whatever. But, you know, a lot of jobs in this country require you to, you know, get behind a truck and drive, you know know for hours and hours and hours and it's thankless but if you sell the vision that you're feeding america you know you can at least find ways to spin that where well i think but i think you've got at the same time you got to pay them enough to where they're starting to get a family so that they

can raise their families next insight a business is best understood as a system and i love this man and if you are thinking of opening a business or you have one or you are in business, if you're an independent business person, realtor, whatever, attorney, whatever it is, blah, blah, blah, you should be able to take out a piece of paper, right? And draw a diagram of how your business works as though it were an engine.

This is where it comes in. This is what happens here. This is what happens here. Then this goes to this. Then this goes to this. We've got to purchase this. This happens this. And you should be able to lay that diagram out no matter what the business is. And if you can do that, then you can start thinking analytically about ways to improve, looking for customer bottlenecks, looking for customer issues, looking for ways to improve, looking for cost-cutting measures, looking for ways you can boost revenue, looking for all of these things because you can look at it objectively. What happens is people get in their business and it's almost impossible to work on a business if

you're working in the business. It's almost impossible to do that. So drawing those schematics, I think is so important. Can you do that for your, I'm curious, can you do that for your law? So what happens is I know where my bottlenecks happen because I get to cases. I have certain types of work I need to do. I'm also the salesman for my company. I always say I need to get people in the door. I have a paraprofessional who does the, the, the, a lot of the nuts and bolts stuff of how this gets done, served, you know, a lot of those things. And she's very essential to my business but there are bottlenecks so we go we have like weekly meetings where we go through status updates and i i touch everything i try to make sure that everybody's been touched right

and not not you know oh buddy bill cosby over here when i said it too it just came out i'm like well that's what you're doing no but you gotta have and then i have um other administrative staff that do my data inputs stuff like that then uh my wife helps me out with certain things and so i have my own i figured i have my own system but it can always be improved and it is difficult for me when i'm in the middle of them you know uh an eight hour mediation is in last week or whatever or i'm going and going and going and going gone i can't stop and be a part of any type of system on thursdays we do this because my i'm so up in the air court could be any day see that's a problem and that's it right i can't figure out because i can't i'm not gonna hire

someone to do what i don't need them to do no No. And that's what you got to step back and look, right? Like the whole process might seem amazing, you know, as a whole, but there might be those couple of spots that you don't want. We're having issues here where you have to hire somebody else or move somebody else. And I think that's a key to do all the times. Look at your business. Well, I mean, guys, look, if you're going to start a business, I wish you well. If you're in business, hopefully you picked up some stuff today and said, man, maybe I need to take a look at this. I need to figure out what I'm doing. I need to figure out where I'm spending money, where I'm getting money. Am I budgeting money? Do I have goals? Am I doing all the things

I need to be doing? Am I relying on one thing far too much? Yeah, which is the worst. I have one customer that pays me all this money. I'm going to quit my job here. Don't do that. Yeah, you better have your outs. Don't do that. Don't do that. Well, guys, I hope you enjoyed this,

and hopefully you'll come back next week. I have a new sign-off. You ready? It's like the new tagline I'm going with. You ready? Let's hear it. Here it is. Hope you guys enjoyed it.

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move forward. See you next time. Make it powerful. Make it powerful. Hey, it's John Gafford. If you want to catch up more and see what we're doing, you can always go to thejohngafford.com. We'll share any links that we have, things we talked about on the show, as well as links to the YouTube where you can watch us live. And if you want to catch up with me on Instagram, you can always follow me at thejohngafford.

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