Redondo Beach 2023 — Day 1, Session 2

Jay Abraham · 2023-05-03 · 1 h 54 min · the recording

Transcribed by machine from the recording. Names and a few spellings may be imperfect; the timestamps mark where each passage begins in the recording.

0:00:40All right, so we have tons of resources in the room, so I wanna do a quick go around and then Scott's gonna take it on takeaways until we get interrupted by Jay. But right now I want you to think of if you could solve one thing in your business, one example is how can I overcome my time constraints and maybe design a chat GPT thing to help you out and coming up with ideas. So what is one thing that somebody in this room might be able to help you solve? So just ask the question, like here's my challenge and this is what I think might help me solve that. So does anyone wanna start? Like this is my challenge. I wouldn't mind if this was solved just because if we put it out there then everyone here can kind of think about it and you can come up at the next break and say, hey, I have a solution for you. I know somebody in Dubai, they can get you the funding you need. You're gonna be set. So any challenges, anybody wanna take first round? If this is not helpful, then we're gonna just go straight into takeaways. So here we are, I'm gonna hand over the mic, but let people know what would be a solution for your business so that they can start visualizing it because you never know what solutions the person next to you might have for you and your business.

0:02:01Thanks, Mr. Brioni. I'm curious, who had a takeaway from the first session? well let's start with just one okay my brain is looking at three um just preeminence it keeps coming up it's all preeminence if you didn't hear that's me um the life on examine isn't worth living i was thinking about that in business and maybe doing an hour a week and focusing on like one part of the business to put on the calendar and like look at it you know every week over 52 weeks to examine like each process on there. I do a check in every two hours like it's a good bad or ugly right and I try to have as many goods during the day and like sometimes it's like good good ugly good good good cool thing cool idea who's next yeah we'll go this side of the room everybody was like I'm not doing this uh out of Jay's theory we create so many you know fun ideas and activities to be implemented across the company like one of them last time time we created was a strategy of preeminence where I realized me believing and following that thing would not help if my entire organization believes in that and they follow the same thing that will help so that we have been doing this thing from this session what I did I plan one thing that I would make it a game or fun activity that every day whatever

0:03:34you observe from other industry, let me know on our LMS, and then you tweak it to adapt it. So that fun element and game type of thing would be created and the winners would be announced every month. So we get a lot many observations and ideas out of our 100 leaders to, you know, how comprehensive list and to adapt that thing. If you didn't hear that, to take ideas and strategies and put them in a learning management system and gamify it. That's, that's amazing. Is there people in the chat chime in? We'll get to them in a second. Who's next? I like the idea of communication not having to be related to the industry because I'm always struggling to try to keep communication going with our big clients. And it when he was saying it could be something completely personal. There are people to just because I'm like, I don't want to be repetitive. But that was a really good idea. So, uh, just one second, just on that, they usually search outside industries for their trade magazines and just pick any trade, it doesn't matter what it is. And see what they're doing and what they're up to and see if there's anything in there that you can adapt. Uh, I text Brian Oney all the time and, and I find content. Like I just found some recently that, uh, Jay could use for an example.

0:04:50I'm constantly on the search of like, where can I find an example? And it's usually in tech, it's an automotive, it's in software. I always look outside of my industry, but just like Google trade journal and then type the letter A, B, C, D, E, or F just, and whatever pops up, look at that first, pick a random letter and let Google pick it for you. So trade journal V might be Velcro and you might find something that's pretty cool. Who is next? Hi, I think verifying assumptions is really powerful and that can happen on many different levels within your company. And it should happen on all the different levels. So yeah. What are some ways you can validate? Well, just like checking in with your accounting team and making sure that it's being done properly, verifying that you're receiving the services that you've contracted them for, having those conversations. And it should happen like monthly, quarterly, like continuously checking in with your customers, making sure that they understand your new products and if they resonate with them and if they're getting something out of them, if they're interested in them, just constantly verifying and not just assuming that you're creating a product and your customers going to want it. Yeah. There's a cool thing. If you know, a really good skeptic, take a lesson

0:06:11plan to them. And I don't mean this in a bad way. They'll poke over your hole in it possible. And you're like, I never thought of that. My, uh, people on zoom, I'm making Brian run. I don't know if you guys saw that or not. That's fantastic. And there's time delay, which is like, it's like Like watch it a movies, don't, don't sleep. We don't sleep on that. Brian, like, you know, sometimes if you put that out in the university, you're having a challenge with something. Somebody might chime in and say, I can help solve that. Right. So I didn't mean to cut you off. Keep going. And can everybody hear what you just said was did it. So somebody wants to take a CPA firm and work with a C a CFO. Is that what you said? Well, licensing here. Let me do this. Doesn't make it really easy. Brian, here's a microphone. So consider licensing business methodology and looking to repurpose unsold leads. I love thinking my biggest, okay, just said that one, launch health. And now you can hear me. For me, it was the reminder that the three advanced takeaways to grow business. All right. So I made some notes for me while I was going through this listening to Jane. I'm like, okay, how many different ways could I slice a follow up?

0:07:49I can send a text message, an email. an email, I could do ringless voicemail, I can, I can, I'll get you, I can, I can have somebody go knock on a door. Like, realistically, if you have some way to follow up with a past client, or somebody who's reaching out to you, let's say they didn't do business with you, can I send them a letter and send them an offer or something they would buy instead, and make it an affiliate program. Yeah, for me, the one thing that I was saying when we were talking quite a bit about the strategy of preeminence, one that I hadn't really seen before or heard fully, was the idea that every time you communicate, you need to leave them better off. That's something that I need to pay more attention to in my communication moving forward. For me, it's really about best practices. So I've been talking to a lot of industry players myself and today I realized that that if I keep doing the same thing with them, there's really no competitive advantage. Yeah, so I need to look out of my industry. Yeah, I have tons of things, but the one that is interesting, we have a program, a lot of people subscribe for that program and then only a part of them get acknowledged by subsidy. So we have a lot of people that didn't come through

0:09:21And we had them, we call them, we have someone to call them and that worked quite well. But after today, knowing your numbers and I thought we need to test more of how that works. Maybe try different scripts, really look at the numbers, look at what can be better. And I'm sure there's a lot of things that we can adjust and then optimize. So yeah, that's one thing that I'm gonna implement. Maribel, here we go. For me, it's that we only sell like one thing and it's a package. And if a prospect doesn't feel like they need it or we only work with micro companies, but even if they feel like they're too small or they don't have money, then we just don't work with them. And I feel like we should be doing something with all those people because that's an opportunity that we're losing because they still need to file. So they're going somewhere. Who's up next? Oh, no, we'll have more. No, I found that what Jay was expressing about that we all have a moral obligation towards potential clients leads to be able to give them the best solution, which is in their interests.

0:10:56And that's something that I personally had forgotten. And because I tend to write massive emails that go out to maybe 5,000 different individuals without really considering. And this really resonated with me that we are all writing to a human being with feelings, needs, problems, and that we should always, or at least I will try to follow that concept of always trying to think about how I can improve their lives and their solutions. As I'm looking over all my notes and stuff, one of the things that stuck out is I know that we talked about empathizing with the reality of our clients, but not only with them, but especially in today's hiring problems that people are having is with our team members and with our vendors. vendors, right? So trying to understand their reality and what they're going through that, you know, to make your team stronger. So it's one of the things I, one of the things I took away. Anybody in the area? Alright, so this is where we're waiting for Jay. Can I show you one really cool tip for follow up? Who here has a client that's on the hook right now? You do? Here's what you do. I'm going to show you how I do this live. And for a moment, I'm going to be Mr. Robert Anderson.

0:12:29Okay, so I got my phone. Hey there, it's Robert Anderson. I'm here in Redondo Beach. And I know that you really need to get a Meraki system for your service, for your non-government organization. And I was really thinking about you. I was at this event with top notch entrepreneurs and I want to let you know that that's something that I think of you. So why don't you do this? Reach out to me. I know that we've been talking, we've been chatting. Reach out to me, 808-364-9906. And here's what we'll do is we'll get this conversation started. just wanted to let you know I was thinking about you. I was walking down the pier and I was like, man, Bob Smith, how the heck have you been? Give me a call back. So if you have an iPhone, you can send up to a three minute video to an iPhone. Android gives you about 30 seconds, they mess up your video. So if they do, this isn't an Android. So like, I'm like, my iPhone is back at the house. Just any video. Yeah. So last, in January, I followed up with a client. And I was out at the beach in Hawaii and I turned it into a lesson. I was like, look, here's a lesson plan. These surfers are out here first thing in the morning and these surfers are out here catching the waves and they got to be out there and it's kind of like your

0:13:45sales team, your sales teams not performing unless they're coming in in the morning, so why don't we do this? I got a sales training available slot next month. Let's get your team on. So bra, how's it right? Throw some Hawaiian in there. And the guy calls me back and he was like, you're really at the beach. And he just texted me that I need to work with my sales team. And I said, yeah, absolutely. And he was like, let's do it. So everywhere I go, if I got a client that's on the hook, like I figure out a way to talk about like, hey, I was just thinking about you, your product, your service, what you're up to. And even if there's somebody that I've been trying to start a conversation with and not necessarily sell, like they like those little videos. Just hope you're doing well. I was just thinking of you. I'd love to get back on the phone with you. I know we started a conversation a couple of months ago. We haven't had a chance to talk. A video like that, if you don't have an iPhone, you can always put it up to YouTube and say, Hey, I shot this video just for you. And you just say them by name. Hey, I mean, like, you know, you're gonna screw up on a couple of them, but it's okay. Just text it to them. Just text it to them.

0:15:00It's a good insight. Good. If you said they were bad, I'd be heartbroken. People said they really liked you. They did? Okay. Oh, you're trying to screw with me. It wasn't the people. This is from the people on Zoom, Jay. We're holding multiple microphones near you. people on Zoom are trying to screw with me too. I don't know, I'm this innocent soul and you guys are taking, you're taking such terrible advantage of my ignorance and and trust, Jesus. All right, you hold on to that. Oh, I had too much to eat and now I'm going to have to digest it. All right, So we're going to go onward, but I need you to know that my goal today and tomorrow is to get you to look at your business, your place in your business cosmos and your personal life differently than you ever have before. I want you to see all that's possible and I don't want you to see it just in terms of economic yield. I want you to see it in terms of contribution first, value creation, and the joy it can bring you to operate at a much more elevated strata of understanding, okay? So let us continue on our journey into the specifics. We did that. Next, you'll notice I don't have as much blue on my finger, yet.

0:16:43Gary said that next, next. Okay, I came into stature with the three ways to grow a business. You know how you'll see the sequels to things like Indiana Jones and the next Indiana Jones? So the sequel to the three ways the power parthenon of geometric business growth. Let's see, Brian, what it entails. So the premise, I'm very happy. I don't know if I'm an original thinker. I always said Tony Robbins wasn't an original thinker, but he was an original synthesizer, meaning he could take elements, put it together in an original thesis, pardon my voice, and create something quite profound. And I think I can do variants of that too. And I think I have a lot of original observations, at least I have, I don't know in the in the chat GPT world, if I will, because it's pretty profound. But right now, I think I still do. And one of the original insights I had years ago is this. My insight was that most businesses operate their revenue generating activities, like what I call the diving board. I call this model the diving board theory of business. And the premise is very simple. Top is like a diving board. It's your revenue.

0:18:14The bottom is the support. And it's normally one major driver that everybody uses to drive the totality of their business. Doesn't matter what it is. We did this a while ago, it was direct sales. It can be anything you want. It can be Facebook, YouTube, webinars. It doesn't matter to me. It's one thing usually, it's 90, 100% of your business. And my premise is a diving board is definitely a propellant upward temporarily as you go plummeting back into the water, if the water is there, if it's not, you're screwed. And if you're dependent on one revenue source alone And anything goes wrong. COVID. You can't. No one's in their office. Energy shortage. Gas is twice as expensive. Airlines are twice as expensive. Competition comes up and they innovate on you. Your top salesperson who has the relationships leaves. I mean, I'm going on and on, but if that happens, guess what you are? Big time. So I realized that, and I formulated a logical alternative, a protective alternative, a hedge alternative, and it is called the Power Parthenon Geometric Business Growth. Next slide. So I said if you only had one more source, even if it only produced a modest contribution, you can see visually how much more stable it is, right? Next slide. But I try to get my private

0:19:54clients to have more like eight or nine. And the big one, as you can see on the left, is the driver, but if each of the others are 10, 10, 10, 10, 10, 10 more, here's what happens. Number one, the cumulative amount is significant. Number two, you have a much greater hedge if anything goes wrong. Number three, you're penetrating the market from many vantage points. There's a concept call force multiplier effect in the military, which I will explain right now, because metaphorically, it'll make sense and maybe motivate you. So if I was in a worldwide battle with you, and you brand his, he was the general general you, And I was General Jay, and HUBE had a, let's say HUBE had any one thing, let's say HUBE had a really good air capability. I would go at HUBE's country, not just HUBE's military from the following manner. I would, first of all, knock out his infrastructure, his communications, his rail, his air, his airports, his ports, his highways. I would talk, his communications. Then I would probably maybe do surface-to-air missiles, then I would probably do bombs, then I would probably do attack drones, then maybe I would do tanks, and maybe I would do snipers.

0:21:35but I'd do everything I could to come at it from every vantage point. I wouldn't care which one served the final salvo, but we're gonna win and Colonel General Hoob's gonna throw the white flag and we're gonna take over his country, but we're gonna be so liberal, we're democratized, we're gonna let them go. Okay, and then we'll probably have to rebuild it and it'll cost us a lot and our taxes will go up, right? Bummer. Anyhow, the concept, back now to this, The concept, yeah, Jesus, that noise is scary. The concept of the power of Parthenon is it gives you leverage galore. Leverage galore because each of the pillars can solidify, it goes at the market, it can reach the market from different vantage points than you can with yours. If they see you everywhere, it moves people. A lot of people are interested but not convinced. But if they see it many times, it's like the positive Chinese water torture. Next slide. Each part, each pillar can have some pillars. It gets very exciting if you're into geometry and beyond like referrals, you can have all kinds of referral systems. You can use direct mail or phone calls. One is to source leads, one is to close leads, one is to post upsell, one is to save, one is to reactivate.

0:22:55You got all these variations. Isn't this exciting? Everyone has access to some application variation of this, Nick, we already talked about that, next. Next. So now, I mean, these are all, you're gonna get into variations of the same mindset, but then I created the, this is a little, let's go to the nine drivers first. Can you do that? I'm gonna give you the order. I put this in a different order, but I'm gonna go to the order that I developed them. That way you'll get a better context of my brain. Well, I didn't know you could do that. I'm not very computer-literate. I may not be literate. It should be right after this, Brian. It should be right next. I would think it's the second one after this. It's right next to it. Thank you. Okay. So in the hierarchy of Jay's evolution, was three ways. Second was the first strategy premise, three ways. Then the power of Parthenon, now the nine drivers premise. I like low risk, low investment, low time, high yield. I like small shifts, big yield. I like small shifts, big yield, big residual. So I started asking, and again, I only I only possess and express expertise in revenue system and strategy.

0:24:39I don't operationally know, I can tell you how to inspire culture, but operation management sourcing supply chain, I can't help you, but I started asking, okay, what are some of the easiest impact levers that if you change them a little bit they're going to produce massive increases. I went through a whole bunch of stuff and I res I I settled on nine there's probably more but these are the ones that to me anybody can really use and the premise is you you change them a little the result changes a lot so let's go through them. So you change your marketing you change your results. How can you change it? Different positioning, different markets, different different premises, different business model. You change your strategy, you change your result. I gave you an example of strategy and one person made $7,500 and quit. The other guy lost $5,000 and and made 25 million. Strategy will trump always tactics. Tactics are short term strategy is longer. Change your strategy, change the results. Change your business model. If your business model has been, I'm gonna sell one product, that's all you do, but you change it and say, okay, I'm gonna sell an easy or give an easy entry to start relationships. Then after I sell my product,

0:26:08even I have nothing else to sell, I'm gonna source all kinds of other related products partner or license or private label, then you change everything, don't you? You change how you use capital. Very fascinating concept. One minute. And can they hear me now? Good. Yay, Brian. Sorry, everybody. It wasn't my fault. It was the audiences. They were the ones that were, they didn't want you to hear this. They said, you didn't show up. So they just want to have all the knowledge for themselves. I said, please don't do that. But they secretly commandeered the mics when I wasn't looking, but we've put them in their place. So here's the concept of capital. It's pretty profound. Many types of capital. First of all, how do you use money? Most people think of spending for advertising. If you change spend to invest, and you see yourself as an investor, every time you invest a dollar, you need to know what you're going to get out of it, don't you? As opposed to thinking of it as an expense, you think of it as a yield based investment. So if you invest, there's many ways to invest. One is just buying things, paying for things. The other is moving fixed cost to variable where you get you pay on results. The other is exchanging your product or service. We're going to get into barter later,

0:27:37but just to make you have fun. I have, I don't know how many cars I have, but one I paid for, the rest I traded a day of my time, or two days for. My wife has a six carat diamond ring that I traded a day for. We have a million dollars worth of art sitting around my house. I've created barter profit centers. It's a different form of using sunk capital that already exists in product or services that cost you a fraction, but that you can negotiate for the full or more than the full value at retail, you can use human capital better. Most people, most employers, most entrepreneurs only get about 20 or 25 percent of the productivity that's capable from their people. If you could double that, if you could double that, it's like getting twice the workforce. Most of the people aren't underperforming because they want to. They don't know how to be better. We'll get later, pardon my voice, into what do we have, Brian, 40 or so soft skills to identify? That each one of which has leverage ability and collaboration, communication, how you're heard, how you're seeing, trust building. There's a whole bunch of soft skills that can make your team better. Productivity, efficiency, operational effectiveness, all kinds

0:29:01of things. You can use relational capital, other people who have access to your market, access to knowledge, technology. You can use expertise. We have something called, we'll get to the unlimited business checkbook, which is that you never put money out. You always find somebody who's got a problem you solve. A lot of you are experts. Raise your hand if you're an expert. Okay. Are you a hundred percent filled in your time? Most aren't. An expert charges usually for their money, I mean for their time, but if you knew with certainty you could exchange that for a permanent piece of the upside and it would be a hundred times more, you might do it. If you thought that the other side would execute the rewards would be there and you'd get paid, wouldn't you? So you, if you have the ability, and a lot of you may not be that big, but you You can buy it if you say, well, I wish I had a technology, wish I had a marketing expert, wish I had a chat GBT expert, I wish I had a this. They all exist and there's world-class ones. And then there's, you know, good ones. And then there's decent ones. And then there's knowledgeable ones. There've been no where you're on the food chain. If you can make a credible case that if they will invest their expertise

0:30:21instead of a fee, you will give them And you have to, there's variability on this. You can give them a permanent share, the savings or the profit. You can give them three or four times their fee payable in a certain correlation. You can give them exchange of goods. You know, I've traded people, you know, cause I can create value at will. This is a $15,000 program. We have a $25,000 program. I could trade somebody 25, well, actually I did. We have in my, my wife wanted grass, artificial grass into the pool area. We have a really cool sunken pool area, but I have a 30 year old house that's old. Concrete looked like crap. We had a choice of either replacing all the concrete, which would have cost a hundred grand or covering it up with artificial beautiful turf, which was 25 grand. I didn't want to spend either. So I found somebody who sells artificial turf and I said, how would you like you and two of your colleagues to come to one of our $25,000 programs? It's a 40 or $50,000 deal for your grass, which I know doesn't cost you 25,000 and I've got a whole beautiful backyard full of grass. I'll take a picture and try to show you tomorrow. That's another thing you can do. You can use intellectual capital like the example I gave of the car wash or the lumber yard.

0:31:41You can not only use yours, you can acquire others that don't know the value. You can acquire others for yourself and then basically flip it out. If I have great expertise that I don't know how to use, you can get a license, a rev share, an acquisition from me. But if I'm not gonna do anything with it, then you can flip it again to a thousand other people. It's interesting, doesn't it? Am I blowing your mind? Good. We should just call this mind-blowing, instead of taking your profits beyond exponential. Yeah, I like it. Relationships. You've got relationships with vendors who could be better sources. I've had vendors fund. When my client had a vendor that wasn't their primary vendor that wanted their business. And my client said, this person really wants our business. And we'd find out if they were reputable and they were okay. And assuming they were, I would say, okay, let's figure out what we're not doing that we would like to do. What do you want to do? You want to be on social media? going to be digital advertising? You want a sales force? What do you want to do? Whatever you want to do, let's bring it down to a test mode. So let's say you wanted to hire a salesperson you didn't have it. Let's say that he or she was going to cost,

0:33:01I don't know, $7,500 a month for three months trial because it takes three months for you to see. I guess $25,000. Let's go to a vendor and say, if you'll pay the cost of that, we'll give you 100% of the business that ever evolves from him or any other salespeople, plus we'll give you a double on your thing, or whatever it is, and I've gotten him to do it. At one time I was in the gold business, and I'm gonna go back, and most of you won't even know what I'm talking about, but there was a time that the South African government had a gold coin called the Crew Grant. I don't know if they still do. The Crew Grant was a very popular form of one ounce of gold when gold was very, very, very newly re-legalized. And it was very popular until apartheid really caused real problems and they stopped selling it here, I think. But while they had it, they had a government agency that was promoting it. And the reason that it was so cool, people were buying hundreds of millions of ounces and a branded coin sells for three to 5% more than a general piece of bullion. So if I bought a one ounce, just a little piece of gold, whatever the spot is, plus a little markup, but if it's a proprietary coin, I might pay three, four, 5% more,

0:34:24three or 5% more on $1,000 or $2,000 an ounce times a hundred million ounces is a lot of money. So I would go to them and everyone else who is selling gold, they give them stock ads to run. And they were just mostly about the crew grant. and it was really boring, and most of them didn't work, and they would pick up half the cost, but it was a waste to even pick up our half. I said, look, our market, our newsletter subscribers, and in the beginning days of newsletters, I'm giving you far more than you wanna know, but it's interesting. Today, everybody's a newsletter subscriber, and they're $47, and most of them are not very good, at least in the initial stages, but when I started in it, they were 200 to 500, and they were very quality things, and the only people that subscribed were real entrepreneurs, business owners, doctors who had money to invest. And they were serious investors. They were conservative and serious investors. And what we did then was I would go to these people who promoted things like gold coins. And I'd say, it's a waste for us to run your ads, but if you'll fund 30 page mailings, we can send that interview people about gold, that talk about historic gold, that interview experts, then we'll send that out.

0:35:41I got them to give us millions of dollars because I could show them on tests the correlation that they paid off. So vendors can be a huge source. Your clients vendors, your vendors, they can be a source of intelligence, which has value. They can tell you salespeople they know about that are unhappy. A lot of times, I'll tell you something fascinating that happened during COVID. It was great for my clients, not good for the companies that didn't understand this. So in the beginning of COVID, when all hell broke loose, many companies waylaid their most expensive employees. And most of the expensive employees, if you understand it, were the ones that had the relationships with all the clients. And most of them that did that were very cruel about it. They didn't give most of them a lot of compensation. It was done very brutally because they weren't worried they were gonna go broke. And most of them were not on non-competes. So I had my clients go on LinkedIn, find everybody that had, that were out of work, but had a very prestigious role in a business and had all the relationships. And we would say, okay, contact those people, tell them if they would basically study the case for our company product service and believe we had value,

0:36:57if they would introduce us to their past relationships, we would give them a huge percentage of any deal that came from it. We made millions of dollars. because people didn't realize, I'll tell you something hilarious. I had a former colleague and he was, he got into my mindset and many years ago there was a very large collectible stamp, numismatic, not numismatic, what do you call stamps? There's a word for it with a p. Nobody knows? No, but there's a cooler word. What's it called? It's like, yeah, look up what it's called because I like the more sophisticated word. Tell me what it is. is. I want to know what it is. Okay. It's a cool word. It's a really cool sounding, which sounds very impressive. Anyhow, what is it? No, it's starting to be. How's it spelled? That's it. And and this. So this company was very successful, but they got ambitious, made some acquisitions and got in trouble and went broke. And they went bankrupt. And at the bankrupt sale that they they they sold all the equipment and my friend did some intelligence and found out that the computers they were selling for about a thousand dollars a piece happened to also have the databases on them so he was in the coin business same market

0:38:24collectible coins he bought all the computers for about six grand and made 20 million dollars on the relationship. I had a client and I did this for them but I benefited twice, totally, totally, totally acknowledged. So my client sold rare coins and at one time they were the biggest and then I left because we had not a falling out, they just didn't want to pay me my profit share and I didn't want to work for a lesser amount. And I'd gotten them hundreds of thousands of buyers and the guy that ran it was profligate. He was a really good guy but he over committed and he got got in trouble, and he ran out of money, and he was in trouble. And he called me very humble for help. And I said, look, you don't have any money to market. You don't know what to do, but I've got an idea. You sell coins. I at that point had a new client that bought coins. And I said, I got a client that'll buy coins and I can get him to write you a check for three or 400 grand to buy your list, but you have to understand he's gonna go after your past clients and offer to buy their coins. And my guy wasn't at all negative because he wasn't buying coins back. He didn't have any money. So I got him a couple, three, 400 grand for his list of the four or 500 people.

0:39:42I helped my client qualitatively go after them in a way that didn't demean ours. And he made something like $30 million buying. I mean, I hope this is giving you guys a way of thinking because I don't care if you do any of the things I tell you, I have done, or my clients have done, or other people have done, I care that you don't keep doing the same thing the same way before you came into this room. Good, change, slide. Change your distribution channels. You know, I mean, distribution channels can mean media, can mean partnerships, can mean retail, can mean industries, but if you change or expand, you can dramatically change what you do. I started out doing seminars in the United States. I realized that all over the world, there were people that were selling business seminars and most of them were selling cheap ones. I was doing five to 30 when most people were doing 495, 295 to 495. So I just started going around the world trying to figure out who was doing it. I didn't care the language because I realized you could do it through translation. And I partnered with, but I partnered with somebody in Australia. I partnered in Japan, I partnered in Singapore, I partnered in China, and we did tens of millions of dollars

0:41:04and I had almost zero expense. I would get paid a couple hundred thousand, 250 a deal against 20% of the profit, two first class tickets, second not the presidential suite, the second. I had four hours of massage a night and $5,000 of expense money, it was a great time. But all that was by just changing my distribution channels. change the product and service mix. I sort of talked about that already, that it gives you three advantages. A start, a back end, a front end, and more things you can sell and also how you can increase the size and the profitability of your sale. Change your ideology. This is your belief system. If you're watching me, listening to me, and you think I'm full of crap, then you're right. If you believe, wow, there's a whole other world of possibility, of access, of applications, executions that I've never even thought about, then you're right about that. Change your process procedures and system. That has three implications. One is most people don't have the most high-performing and consistent processes, systems, procedures. I told you about best practices. I told you about the 10 different functions doing that. I told you about licensing processes, procedures. So there's that. Next. Yes, I do now. I want to pivot to pivots.

0:42:37Okay, thank you. Some of this is redundant. So if you say, well, I already heard that, I got to give you another lesson in between the lesson, between the lesson like the 3D glass type lesson that nobody else sees. So there is lots of research that says the following. Most people retain about 9% of whatever they're exposed to when they're learning, and it's for a couple of reasons. One, you take in so much, you take these cryptic notes, you're trying to process it all, and you can't remember half of it. Second is, if it's nonlinear like me, you're only going to do about five because you're going to trip out thinking about it and hear about half of what's said. Seriously. The third is that if it's way different, it's going to be hard to embrace, even if you want to. So the more times you repeat something, the more probably you are to be able to actuate, implement, successfully utilize it. There are two kinds of training modalities. You should know about this for your own self and for your team. team. There is event training, there is process training. Event training is when you come to something once, when you read a book once, when you watch a webinar once, when you retain a consultant for one static activity. You get a benefit, but it is a fraction of what you could get for the

0:44:30the reasons I said. Process training is akin to what a person would go through in the military or a doctor training or a pilot. It's progressive, it's iterative. You start and you do the same thing again and a little more and the same thing again and a little more. That's the first thing. Then you repeat it. Every time you repeat, the knowledge base rises and then drops, but if you start here at zero, The first time you get something in your mind, you're here. When you go home, you're really about here. But here is still high. If you stay there, it's going to glide down, not up, unless you're a very unique person. If you study it again, you're going to go here and you're going to end up here, which is that much more. You know, glide down a bit. You study it again, there and there. It's the same with your team. Everyone wants to keep training differently. You should keep training the same and a little bit more. the same and a little bit more, because it is a diluted, ignorant, arrogant belief that your team gains anything close to the full majesty of what you're trying to teach them yourself as well. So these are the pivot points, and I'll go through them if they aren't duplicated. So business model pivot, it's not just understanding what I said, but doing it.

0:45:49A product service pivot, same thing. R&D pivot, this is interesting. I mean, for my I have my own definitions, my own interpretations. So an R&D pivot to me can be many things. But think about this, in the pharmaceutical business and in the technological business, they invest a huge portion of their revenue in research and development to get breakthroughs to replace the obsolescence or the innovation that other people come up with that compromises their product. I think the medical field, the pharmaceuticals, I'm like 10-15% of revenue, not profit. Most entrepreneurs don't invest anything. They don't try to find out about new products, new markets, new approaches. If you invest in many facets of interpreting research, what's going on, trending, everything, and you allocate quality time or even resource people, money, outsource to do it, it gives you that same thing I talked about many hours ago, ethical advantage. Supply chain pivot, that can mean many things, different vendors, different sources of additional products or services, different partnerships. Preeminence pivot, most companies don't understand the difference between being a commodity with a a little bit of benefit and preeminent that is preemptive and proprietary.

0:47:38Those are three P's. You should want those three P's. We have a different set of three P's later. It's called passion, purpose, and possibility, but these three P's, write those down for me, Brian, that I just said, and give back to me. Yeah, I like that. Next, target market refocusing pivot. Most people don't focus as rifle-like and as penetrating as they can, or they don't focus on the people that have the influence on the market. But again, think about it. If you start thinking on the way home, if you're not, if you're driving, don't think too much because you might have an accident. But if you're flying or you're being driven, think about this. How many ways have you not tried to garner advantage advantage in what you're doing. Because now it should be every time you go, is that advantage or disadvantage? Wow, I'm getting advantage. But if you're targeting a market, and everyone else is going at it cold with media, and you think your advantage has to be better marketing, what if you preempt that and your advantage is you get somebody that's already got access to that market? Point in example, when I decided I wanted to be in the seminar business, and this is true, it's going to be impressive, but it's an interesting story. We did in a few years,

0:49:06two, five, oh, comma, oh, oh, oh, comma, oh, oh, oh, oh, which is $250 million, a quarter of a billion dollars in seminars, product, home study sales on a worldwide basis, and I put up a whopping $300,000 out of pocket total for the whole thing because I was able to to figure out who already had access to all the entrepreneurs. I did partnerships with Tony Robbins with Success Magazine, Entrepreneur Magazine, the Inflights, all the newsletters, all the other people outside who had seminar businesses or training businesses or consulting businesses that were lesser sized or different profile than me. I did them with all the seminar companies teaching either investment to entrepreneurs or business. I did them with all the associations. I preempted all the people that were just running cold ads in the market. And I made an effing fortune. Branding message pivot. What if your message, God bless you, what if your message is not the most powerful one? How would you know if you don't test a lot of alternatives? How many words have you tried to articulate? Have you tried to demonstrate? Have you tried to metaphorize? Have you tried to demonstratize? Have you tried to animate your message? How many could you? SEO pivot.

0:50:33Great story. And oh, we're gonna play, we gotta play Perry Marshall. We have time to do it. We have to. I got a bunch of videos. We'll try to get in, but I gotta make some ground covers here. I have a cousin. He is 28. He graduated law school two years ago. His dad, my cousin, was the top private personal injury attorney in Indianapolis, very successful man. But he didn't understand advertising when it became legal, and he couldn't keep up. And his practice went from robust and very profitable to almost non-existent. And the son came out wanting to reinvigorate it. I happen to have a friend who is a world-class SEO guy. His name is Stephon Spencer. Be happy to give you his name and number. He's very good and he's helped a lot of people. And I did a clinic with him a couple of years ago and my cousin was on my list and watched it and was impressed. And my cousin went into debt. He used his own savings to pay him for like six months. I don't know what he charged, just 10 grand, 15 grand, nine grand, I don't know what he cost. And now they are the number one organic search in every area that's relevant in Indianapolis. When he came into his father's practice, they were doing, I think if they did 10 cases in a year, that was impressive.

0:52:04They're doing 30 cases a month right now. And half of them are really big cases, but that's the power of SEO. And if you're getting somebody who's not world-class, it might be, things that it's worth paying for, particularly if you can move some of the payment to performance or if you can defer it, but if you're doing things mediocre, the difference between mediocre and epic is not linear. It's asymmetric. It is asymmetric. Next, social media pivot. That has so much, and I don't report to be the expert expert on this, but it's you have a presence on social media? What is it? Are you on LinkedIn? What is it? Are you basically doing? And by all of you that deal with anybody of any consequence, the one thing, and I am a hypocrite, and I don't mind acknowledging that, all of you should really understand YouTube. You know why? Everything else is intrusive. Everything else is trying to interrupt your experience, your entertainment, your social connection. When people go to YouTube, they go there to learn. Our most popular, we don't advertise on it, but we want to, which is, I have to sit down and do video and I don't like to, but the most popular video we have on YouTube, how long do you think it is? It's only three. The least popular is 20 minutes.

0:53:34Now, everything else you're told it's got to be 30 seconds, right? But when people go to YouTube, they want to learn. You can go to YouTube and you can advertise on your competitors' videos. You can advertise on the most popular persons. You can do all kinds of things as long as you know what you're doing and you don't piss away money. So a social media pivot can be huge, and it has many facets and gradients to it. Competitive intelligence pivot. This, to me, is it would be laughable. I mean, there's a very fine line in life between pathos and humor. Sort of depends on what side you're on. If it's you, it's pathetic. If it's somebody else, it's funny. I get clients to answer a 200 page assessment. In the middle of that, or towards the end, there's a many pages that ask what they know about their competition, direct and indirect. and the answer is normally nothing or very little. I'll ask them about what their marketing approaches, what their positioning approaches, how it differs, what they do better, how they start, all the things that, and they don't know anything. And then I'll say to them, well, how can you win a game you don't know? I mean, if you were playing in the Super Bowl and you had a football team

0:54:58And the winner gets an extra million dollars a person and beautiful rings and all kinds of endorsement stuff. And the loser gets crying and gets goes to the locker and feels like crap. Would you wanna be the winner or would you wanna be number two? No question. Game over, no pun intended. Why would you not wanna know everything you could about everybody in your industry and every alternative? What are the ones selling the alternative? you're in that supplement business for weight loss, what are the ones selling equipment? What are the ones selling portion control food? What are the ones doing, you know, diets? What are the ones doing medical supervise? What are they doing saying, accessing, selling, closing differently than you? What can you learn? What can you appropriate? What can you partner? Let's say, how did you end up? Did you guys ever see the movie Broadway, Danny Rose? Anybody ever seen that? Okay, if you get a chance, do you like Woody Allen? Anybody like Woody Allen? Okay, watch it anyhow, because he was a talent agent for talentless people. He would like to have a one-legged dancer. He would have a man who plays glasses full of water. He has all these terrible acts and it's really hilarious. And sometimes I think of people as Broadway, Danny Rose,

0:56:24and they don't even know it. Okay, partner, John Bench, we're gonna go through 43 ways to do this tomorrow probably. LTV expansion pivot, lifetime value. Do you understand if you had one more transaction to your current revenue system, that profit could give itself, it could give its life to double or triple what you could spend to bring somebody in the front door. It could double or triple the commission you could pay. I have to tell a story. True. Years ago, I had a guy come to me, two guys, excuse me, brothers, and they had a little regional company that sold fluid transmission products. Do you know what those are? PVC pipe. PVC pipe. In manufacturing, it's used to transfer chemicals, in bottling syrup, and in agriculture, water. And they wanted a breakthrough and they had very little money. They had about five salespeople covering their region. And I asked them what their marginal net worth, their lifetime value dynamics were, and they had no idea. I gave them a formula, told them to come back when they had it and I needed to know some other data. So they did it come back. So here's the details. Worst case, and I always look at worst case, not best, because if you look at worst case, you'll never be disappointed.

0:57:42If you look at best, you will almost always be disappointed. So never be disappointed, not always. Worst case, their average first time new buyer, I'm just going to give it to you in terms of gross profit. I don't care about what the sales. Worst case gross profit, $200 for a sale. Worst case, five sales a year. Worst case, three years average life. So the average new first time buyer is worth 200 times five times three. Okay, so that's $3,000. Okay, what do you pay your sales people? What do you mean? What do you pay your sales people? We pay them 10% of profit. Okay, and then I said, I'm gonna make a hypothetical observation. It might be a delusion, hallucination, as Tony would say, I'm gonna bet your salespeople haven't been opening a lot of new accounts. And they said, Eureka, you're right. And I said, do you wanna know why? And they go, no, no, they said yes, of course. I said, because they're static thinkers. They see a new account worth 10% of $200, $20. Whereas it's worth a lot more. Why don't you do this? Why don't you go to your salespeople tell them that if they will maintain their territorial performance at par, meaning whatever had been averaging, I don't know what it would have been. So that $100,000 a quarter or a month

0:59:06or a day, whatever it was, you will give them 100% of the profit on every first time new client they bring in. And this brother has freaked out. They went, why in the world would we want to give away 90% of our profit? I said, you're not I said, you're investing. You're investing $180 you never would have had. For the 90% of the $2,800 you all you will absolutely get. It's an ROI that is off the charts of 14, a 1400% ROI. This is not smoking meters. Try it out. They did in sales improve 500%. But it takes a very enlightened thinker, which is what I'm trying to instill and install in you. Am I having a success? Good. That makes me happy. I'm so happy. I feel like the sister, the winter sisters. You got to have fun. You don't have fun. What good is it? Got to lab. Okay, next. 12 pillars of strategic business growth. It's pretty cool. It's a little philosophical, but it really will reinforce. Okay. I love breaking things apart into highest performing, least least expensive, risky, time consuming so that you can see where leverage lies, where upside leverage lies. So I created, again, about the same time as I'm going through this hierarchy of developmental understanding and realization at a lot of distinctions.

1:00:44And this was the next one. And so the first thing I realized is on a regular basis, if you wanna be an exponential entrepreneur, you should resolve yourself to the following. Number one, continuously identifying and discovering hidden assets, overlooked opportunities, underperforming revenue activities, underutilized relationships, resources inside and outside your business. And somewhere we have a game planning guide we use for a three-day program we did on relational capital. It's 20 or 30 pages down and dirty, but I'll get that for you and it gives you a way to identify some of these things that you wouldn't think about because you're limited to what you have experienced or understand and that's, it's the outer periphery of what's really available and possible. And I'm trying to give you this introduction. I'm gonna give you exercises and life lessons on what you should do to keep evolving yourself so you can be masterful, not just a journeyman or woman at this when you get home, but you gotta know what they are, where they are and how they exist, because a lot of these are not gonna be seen by anybody else. Just think of yourself as having a nuclear microscope and nobody else does. This is where huge opportunity lies.

1:02:08Second, mining cash windfalls each and every month in your business. Well, in the beginning, you're gonna have enormous opportunity for cash windfalls. If you have a lot of inactive buyers, if you have a lot of unsold prospects, if you have a lot of buyers who only buy one thing and trust you, if you have a lot of distribution channels, you have any methodology, process, procedures, you can monetize that in the first couple of months or a year massively, then it'll slow down and you have to find new ones, but you got plenty to start from, don't you think? Say, yeah, sure. Okay, number three is hilarious to me, just to me. I have inside, I make myself laugh all the time, sometimes foolishly. So number three, engineering success and every action you take or decision you make when you have been blessed accidentally do it on purpose to study everything everywhere around the world in a thousand industries as it applies to I don't know how many continents four or five continents I mean how many continents are there oh I've been all seven but I've been on four or five you realize that most people engineer whatever what's the opposite of success I don't it's not failure but just it's it's it's marginality let's come into what they do because they don't even think about it and they don't know

1:03:33I mean, somebody will say, where's Gia? So you've been on all those calls that I've done with Roland. I love your group. I love Roland, but some of the questions and some of the assumptions people ask, I'm not blaming you, but they make no sense, don't you think? And when I ask them questions, they've never thought about anything, have they? They never tried to verify anything, have they? And would you think that they're engineering success into what they're doing? But they don't, they don't see it until somebody points it out. Most of you, and it's a rhetorical you it may not be all of you and it may be I'm not judgmental I'm giving you generalization. They don't come close to engineering success but if your goal is absolute advantage, and you don't put absolute success into most everything you do what are you going to do, you're going to get disadvantage aren't you doesn't mean you're not going to make money. There's assumptions, there's dissipation of time, effort, people, talent, opportunity cost, access, you know, time. The most precious thing you have is the same thing. People have your time, your attention, your opportunity cost. How you invest it, because you are an investor, is going to determine your outcome. And outcome is denominated financially, emotionally,

1:04:50Short, long, you know, income, wealth creation, you know, fulfillment, gratification, respect. Number four, building your business on multiple profit sources instead of depending on one single source. That has many implications. Power of Parthenon, multiple products, multiple media, multiple, multiple competing with yourself. You know, I've made tons of money for my clients by competing against those. Just saying, okay, if the person doesn't buy from us, why would you, I mean, we'll give you another, anybody here, because I don't know your business, anybody in home improvement? What is it exactly you do? Okay, so you're a little different. In external or construction type home improvement, there's a phenomenon. How many people here have ever done one remodel to one part of their home, at least one part of their home, raise your hand. Okay, I'm gonna give you a hypothesis that if I'm wrong, feel free to refute it. And if I'm right, confirm. So I believe most people, when they decide to remodel a part of their home, will frequently start with a kitchen. Not all, but usually the kitchen. And they'll have the kitchen turn from old to beautiful. And that's pretty cool, except now you've got a beautiful kitchen, but the rest of the house is old.

1:06:19So you're coming in to this old part of the house and you've got this beautiful kitchen, the kitchen's usually, if it's big, it's a place you hang out, we have a huge kitchen, and the rest is old. So after a while you go, oh shit, we better fix the bathrooms. And now you've got a beautiful bathroom, and a beautiful kitchen, and the carpet's old, and the walls are old, and you do that. Now you've got a beautiful inside, maybe the closets are ugly, you fix that. So now you're driving in and the driveway's old and the garage door's old and the roof is pretty beat up. And assuming you can afford it, you do that. So now the front looks pretty damn good and the inside looks pretty damn good, but guess what? The bank yard needs to be fixed. Anybody ever done it? Raise your hand. So if you sold one home improvement and you knew that the statistical probability is that you had somebody that was probably in a course of time gonna do many more and you could partner with that lead or that buyer, would that make sense? Because there's not, I mean, home improvements aren't like spending $15, are they? I spent 150,000, I traded it, so it was a day of my time, but most people would have spent 150 grand on my driveway a month ago.

1:07:33The backyard I told you was 25. We had, we're getting ready to do a $200,000 remodel on our kitchen and why wouldn't you wanna take full advantage of that correlation? Conversely, if you sold home improvement and you had leads that didn't buy, you would know two things about them. They're probably interested in buying it from somebody and they're probably gonna buy these other things anyhow. So that lead has all kinds of sunk costs, but you have to think differently. You have to think differently. Next, being different, special, more advantageous in the eyes of your clients, creating real value for your clients and employees for maximum loyalty and results. You're going to learn if we get to it, we have something called the loyalty-royalty. It's a concept. The more loyal you are to people, theoretically, the more loyal they'll be to you. now in this age when people are dicks and there's no uh and they try to hammer you down it's not quite as good but if you're the only one that is investing and you're the only one that is growing and developing your people both outside of your market and your people theoretically you're going to get a better outcome not always because there's some there's some uh disgusting

1:09:00humane humanity humanity's got some disgusting vial uh really disgusting people but by and large you're going to win, and winning is very significant, but you want to figure out how can we be special in the eyes of our audience, and you have many audiences. How can we stand out in terms of what we represent, what we contribute, what we stand for, the benefit, the advantage? You know, it can be that you just, you know, I made this story. If you're an ice cream vendor, it's a different story. If you're an ice cream vendor, you're committed to knowing that if an adult comes to you, let's say you're in the park where there's a lot of offices and you know that for 10 or 15 minutes a man or woman gets to go back in time and relive a time in their life that was innocent, happy, and joyous, not the stress and the complexity and you can smile at them and you know you have the best tasting ice cream and you make, I don't know what you do, music or something fun and you make them feel good. That's all that you change somebody's life for that 15 minutes. What's that worth? And what's it worth to you? Because I don't think a lot of entrepreneurs have much fulfillment because they aren't really plugged into this

1:10:15kind of a mindset. Don't you want to have every day be joyous and look forward to it and just to have it be energizing ever, you know, what's innovating, all these things. It's, it isn't going to happen externally, it's going to happen internally by what you do. And you're always going to get more joy by contributing than you are taking. Always, even if you think otherwise, if you evaluate it, the greatest joy you ever got was when you made a difference. Always. Creating real value, that's an offshoot of that. Getting maximum personal leverage for or a reaction, you take investment of time, energy, commitment, I should say resources you made, and you can't do that till you get a broader understanding of optionality, your options, your opportunities. Is it possible to make it any cooler in here? Is anybody hot? Oh, you know, I overdressed because last time it was really cold. Oh, it's hot up here, so maybe it's just me. Ta-da, ta-da, ta-da, ta-da. You don't wanna see me naked, believe me. Oh, it didn't work on the thing. Make me open the door. Oh, Gabe, I don't want to make you guys cold. I'll just get over. Maybe we should turn around. At the break, I'll go back there. And you guys come here. You take off your jackets.

1:11:42I don't understand. It's a little room. What the hell does it take you to balance? I don't know. I don't know. I just don't know. Okay. Number eight, networking, master running, brainstorming. How many people here have a mentor? Raise your hand. Okay, how many should have a mentor, raise your hand. Let me give you the difference in my mind between a mentor, a coach, and a masterful thinking partner. And some of you might be coaches, but you might wanna think about what I'm gonna say and maybe you wanna recategorize or calculate. Most, not all coaches. So I'm not gonna, some of your coaches, I'm not criticizing, I'm generalizing. A coach will ask you, Robert, what is it you're trying to do? And you might say, I want to grow my business in another industry. And they'll say, okay, do you know what it is? You'll say yes. And you know what has to happen? And you'll say yes. And you'll say, okay, let's work out a reverse engineered way to get there. And they will help you get there. And that's well and good and you'll do well if they're a good coach. A mentor in my mind is somebody who's been there, and it knows what's possible and we'll say, Robert, what is it you wanna do? And you'll say, well, I wanna do that. They'll say, bullshit, that's below you.

1:13:05You can do a lot more with the time effort and they will hold you to a higher standard. A masterful thinking partner is an integration of that, but he or she has a lot more empirical understanding, probability outcome, what happens when you achieve that, the psychology of it, the challenges of growing beyond that, all kinds of things that are outside the purview of somebody who's more linear. I think every one of you should have more than one mentors. I've had so many mentors that when they say, who influenced you, I can't respectfully answer with one word. I've had mentors, I've paid people to counsel me. I have, for a year or so, we paid money to somebody who was my representative on LinkedIn and we would find interesting people that I would talk to for an hour at a time no agenda because they were from different worlds and I wanted to learn it. I forced myself to get into worlds above my intellectual and financial pay grade because I want to grow myself. I'm 74 and I believe I don't have the energy I did but my mental acuity and my worldview is bigger, better, broader, and more agile than probably 90% of the contemporaries that I hang out with. I don't necessarily even report that I have anywhere close to their relative vertical expertise

1:14:28because I have chosen to have enormous range, enormous tactile, or tacit, excuse me, knowledge of all kinds of things to make a big difference. God bless you again. And I believe you owe it to yourself to travel outside your world. To, I mean, that adage about if you're the smartest person in the room, you're in the wrong room. You'll be the dumbest. You want to listen more than talk. You want to learn Socratic interviewing. I'm very good at Socratic interviewing. You can learn from somebody the totality of what their history, their career, their values are all about if you ask the right questions and listen and register. After I have interaction with people, time allowing. It was funny, I was at a mastermind two weeks ago and everyone was going around the room and they said well what's the biggest thing you got out and the answers were they were they were useful but they were I thought uh tactical and superficial. I liked how Robert talked about what to do with your pen and pen. They asked me and I said what I'm going to do is I have made a little note about everybody and I'm going to think for 10 minutes about everybody that I interacted with either in the group privately and I'm going to think about what they said

1:15:46that really resonated with me that I agreed with, what I didn't agree with, how they said it stylistically, what their approach was, excuse me, by knocking it, what they, I didn't pay attention. I did it purposely to see if she knows it. I'm going to basically reflect on literally how they communicated things I really admired style, inflection, word phrases, how I responded, things I was happy I did, things I should have done differently, and I'm going to make myself grow from it. Most people don't. I mean, we have so much going on. We go from one activity to another to another, and if anybody asks you at the end of the day, what'd you do today? You think you can even tell me? If they said another, what was the most impactful insights and lessons from what you did today? You think you could answer that? who could do that? If you thought about it and you could do that, you think that if every day you learned five or ten lessons and that was every day of your life for the rest of your life, you might have more advantage than people that don't. Interesting, isn't it? Okay, next, turning yourself into an idea generator, a recognized innovator within and outside your industry being creative. So my strength comes from being interested, hopelessly curious about

1:17:17everything I can learn about. We used to do these big seminars. When I did these big seminars, we did something really quite profound. You might try it. I'm going to do something really, I'm going to give you a little gift to before, I won't give it to you here because we'll have to get you linked to it. It's pretty cool when I want to tell you about it as soon as I tell you the story. So our big seminars would have low of five, high of a thousand people. They paid 15,000, 20,000. Some of the expensive ones weren't that heavily attended, but they were big. And I had a process that I thought was really great. After a couple of days, because there were usually five days, and we got to know people, my staff would figure out what your big interest skill hobby was. And for example, what is your hobby, sir? I'm pointing to you. Do you have a hobby? You. What's your hobby? Okay, are you good? Did you bring your guitar to play for us? You want me to go get one? I don't mind. You get entertainers. You sure? Okay, well next time. And so if he said guitar, we might give him a book or a magazine on cake decorating. And if you said cake decorating, we might give you a book or a magazine on motorcycle maintenance. But we give you the

1:18:38opposite of what you had an interest in and make you go for two hours, either outside if you weren't at the hotel or up to your room and find two articles or two chapters, read it, come back to your table and come up with at least one profound insight that directly or indirectly you realize could have relevancy and was fascinating. Everybody did. But most people won't let themselves expand. And I've let myself, because I find it just utterly, unimaginably, and unrelentingly interesting, stimulating, and enormously profitable to evolve myself in ways nobody else can. I can carry on a conversation with anybody about anything. Even if I don't know it, because I have enough referential background, I can extrapolate. Do you know how powerful that is? To be able to be a powerful source to anybody anywhere on the food chain, what that means if you're trying to gain ethical advantage. You know what it's like to grow yourself in ways that nobody else can and see life from vantage points and dimension, nobody else does. Number 11, reversing the risk for both you and your clients and everything you do, so your downside risk is almost zero. We already talked about risk reversal. I didn't give you all the methods of doing it,

1:19:53but taking risk away and making it easier and you say yes, then no, is good for your client. But you can take risk away from your employees, your team members to do things. You can take risk away from yourself to explore new gambits, new opportunities, new markets. You don't have to go all in. You can pre-validate. And sometimes it's not totally definitive, but even if it's indicative, it gives you the positivity or the motivation to go to the next level, next. Oh, yeah, I'm sorry. using safe, using small safe tests to eliminate downside risks and developing funnel vision instead of tunnel vision. What time is it? What time do we start? How long have we been doing? So how long have we been doing this? Okay, we'll do another 15 because you look a little tired and we'll go out and get some fresh air. Those that you're cold, you can come up here and get warm. We'll do a revolve reversal. Okay, next. Aperitif. Oh, they said aperitifs. What are those orange spritzers? Well, there's a ring of orange spritzers. Okay, what are they called? Aperol, yeah. Well, I'll have an aperol. I bet he would make it for us. You wanna ask him? Come on, Des. To go?

1:21:24To go and to go, cups? Okay. No, I don't. I can't stand them. I got Red Bull. I'm good. Okay. So you wanna look at correlations. I look at it. Everything has correlations, implications, anomalies. If you can see things other people don't, and you see opportunities, you see implications, you have, again, advantage, advantage, advantage, advantage, disadvantage, disadvantage, disadvantage, disadvantage. I look at competition like the scales of justice. This is you. This is them. You want yours to have all the weight on your side and them to have all the weight of disadvantage on their side. You can, you have the advantage to play a game they don't even know the rules. Did anybody ever see the movie Animal House? Do you remember when Dean Murmur put the, they put them on double secret probation? You can do your equivalent of double secret probation to all your competition and they don't even know it. The last one and they're down for the count and they don't even know they're gonna get thrown under the bus, philosophically, figuratively, honorably. But it's fun, isn't it? I just love having, playing games that I can win. And most people play games that they can't win because they don't know the rules and they don't know advantage.

1:22:46I mean, think about the guy that figured out Moneyball. You all know what Moneyball is? All of you, you just see the movie. Moneyball is just figuring out that there's a certain alternative way to win without paying a lot of money for talent. You just reorder the performance metric expectations of your players and you put them in a different position and you outperform and you outlast everybody else. Okay, next. Okay, good question. So let's go around the room and say, okay, we just introduced a rat-tat-tat of a bunch of thoughts. I wanna get impressions. Impressions can be, wow, I see now that I can so-and-so. Wow, there's the one thing more than anything I see I'm gonna do different. Wow, you confused the shit out of me. I don't understand a word you said. I don't really care what you say as long as you say something. Let's do a fast round Robin, get the mic. Do we have any sparkling water over there? Could I have one? Thank you. Communicating with your clients. I was thinking since long, but now I have decided that I would be making, you know, top 200 clients of mine and making an Excel set where every time I communicate with them, put a date on that. So I would be analyzing that how regularly I'm communicating with them

1:24:09and what results it is bringing it to my business. Right, that's fabulous, thank you. I'm gonna try to find a good mentor because what I thought was a good mentor does not meet your description. Good. And you don't have to have just one. I mean, if you have many, then you have to be able to overlay and say who. Sometimes it's an integration. Sometimes they're opposite. There's not a right or wrong, but the more viewpoints you get as long as you have the ability to process and evaluate, by the way, related while you're here, excuse me. A lot of times when people are trying to hire either a new position or a resource, I would have my clients interview 20 people and ask the same questions of each one and see how consistently they answer. I would ask them, okay, if you had this, what would you do first, second, third? I wanna hear all the different ways they answer and they expand your knowledge base, and you can see who's got a better take, you can see what's the word I would use, what is absolute and what is variable, and it gives you such a great, but that's good, thank you. Grow yourself like nobody can, I think it's really powerful. Yeah, and it really, I gotta tell you this, and everything I've done in my life,

1:25:31I mean, I got wiped out in the $30 million divorce, I had a sociopathic partner that cost me almost all my money. I got creamed in a custody lawsuit, but I have great fun in my life. And at my age, you realize if you can't have joy, why do it? And somebody always said, somebody said to me, excuse me, life is not fair, but it's always fascinating. You know what's gonna be, life isn't always fun, but it's always fascinating. And if you take that kind of an observation and go, wow, if you can't change it, you might as well embrace it and make the most out of it, learn from it, make it, my mother used to say, if it doesn't kill you, it makes you stronger. So yeah, we definitely need to be masterminding, brainstorming, if anyone is interested in a brain trust, see one of us, that's one thing we're gonna be starting after this and keep training the team, the same things again and again, but a little more and expounding on the same things. Okay. Definitely want to be on YouTube. So we've tried other social media stuff that hasn't really been working very well. And I can see that YouTube is like the direction we need to go. Also, I like the idea about learning from different industries and things that you, you know, wouldn't have otherwise been interested in maybe.

1:26:58That's very good. One more thing while you're talking YouTube, let me give you the two YouTube comments. One is I have a client, very nice guy. You'd laugh, he's a lifestyle guy. He makes $3 million a year. He lives in Playa del Karma outside of Cancun. He's got this gorgeous house right on the beach with a pool. He's always in his shorts, no top, tons, sun tan, sunglasses. He sells a training program to the insurance industry for $9,000. He makes about $3 million a year on YouTube. And he runs ads and he's got four or five people servicing it and he's just having the time of his life. And he used to run Facebook and it didn't work. That's the first thing. Ah, YouTube, YouTube, YouTube, YouTube. Oh, okay, next. I do many masterminds. I'm part of three masterminds that have been consolidated of dentists that are high performing and you would know. Are you the dental person? Yeah. So you know what it is. And, and it's interesting. Cause when I do these masterminds, we, we, I teach my stuff and then they teach the other practice stuff. And I asked them at the last, the last one, okay, well, let me know what's holding you back. Why can't you do it? What do you want to do? And why can't you do it? And I'll never forget.

1:28:21The first guy said, well, you know, I know I could grow my practice a lot. If I had like an executive assistant, but I don't know how to hire them and I don't know how to manage. Do you already know the story? And I said, okay, how many people in this room have a phone or an iPad or a laptop? Of course, everybody. I said, let's go on YouTube and say, how do I hire an executive assistant? And there were only about a hundred videos. And then I said, okay, let's do the next one. How do I manage an executive assistant? Then I told the story. The guy that I bought or I traded for my turf, those $15 million a year. Three years ago, he did no million dollars a year. And he met somebody who sold turf, artificial turf. He thought, that's so interesting. I want to go in that business. He went to YouTube and put in, how do you go into the artificial turf business? Then I did back to the dentist. Then I did the next round. Yeah, what's keeping you back? Okay, let's go on and see. And after about five, they were embarrassed because nobody's done it. I said, who are you trying? You're trying to do anything. you sit there going, Oh, I can't do it because because they haven't done it. You can get it. It's plenty of answers. And

1:29:33now it's chat a or GTB, it may not be perfect. But Jesus, you get anything you want can't get within reason, at least first level. So why? What holds people back? Speaking of referral strategies, again, more referral. Let's speak of referral. Just for a minute. We've actually been working on referrals, but I, while you were talking about the different relationships you have actually thought of another referral source that is so obvious that we haven't even thought of before. So is it huge? Could be. Yeah. I mean, it has to do with our distributor. So very good. And we actually have right now 16 referral strategies and yeah, it's, and are they working? Yeah. Are they monetizing? Yeah. But 85% of them are. That's pretty impressive. What's the potential impressed that it was just no, it's bad. Yeah, they've been really successful. What's your insight? My insight is looking to analyze companies that do business with our clients right now looking at their websites, looking at their follow up process, looking at the referral process, looking at their post purchase reassurance process, and then learn from their success and then look to create joint ventures them to be able to sell each other's products back to our

1:30:50same clients. Very good. Thank you. All right, so I would have to say I think when you go back and say, when you go and say that you learn only so much every time you go through this, and I've been doing this with you now, Jay, for three years, and I started 27 years ago with your first book or the big white book. And every single time I go through this, I end up taking notes and I think of things, and I'm thinking different, different methods. And so it's not just one insight, it's just pages of insights. So that's good. And that's true. I mean, all because there's another thing, you're going to be progressing and experience life. I mean, every day is different. Theoretically, if you decide you're going to grow from every day, you're a different person each time you re embrace the same thing. So you're going to interpret so much more. You know, it I was always laughably upset. That's a combination. We used to do these very amazing seminars back in the 90s, and I would teach tons of these things for five days. And I thought, okay, people are going to make so much money, they're going to come back over and over again, and nobody came back. And so I had my salesperson start calling, and they'd go, well, I already know all this.

1:32:07And I'd say, okay, well, ask him, how many referral systems have you done? How many joint ventures done? How many things have you tested? And they've done none of them, but they do one thing and it worked, and they're really happy. And I would always go, geez, why wouldn't you want to take it to supply? It's your life. I mean, my deal is, I already know this stuff, you're the one dedicating, not you, but retirement. You're the one dedicating your life, your fulfillment, your economic gain, your wealth, your, you know, a huge portion of your day, your emotional fulfillment, your, you know, your lifestyle to this. Wouldn't you want to get everything you could and everything you could when you're done? But I don't think people really do or they would do it differently, don't you think? Yeah, interesting. Well, I've already put about, since I started with you about three years ago, about four or five different power pivots, and they've made such a huge difference. And they really yeah they really really big difference what's the single one that made the biggest difference oh um i'm doing a full would you hold it like this sorry i'm doing a full business model pivot uh which is like uh really um in my same industry but going completely different from

1:33:20from what i what anyone else is you look happy are you having a good time absolutely learning so much um today um oh my god learn today there's so much to go but what i'm really want to implement is the risk reversal. That stuff is like, no one's really doing that in my industry. What's your industry? I'm sorry. I'm in the, I'm a fragrance wholesaler. Okay. So we sell, you know, a thousand different top brands of fragrances and no one really has any kind of. You know, my favorite fragrances and nobody sells it. It's cheap. Jup. I still have it. Yeah. Yeah. We buy it for $49 and everyone goes, you know, the funny thing about fragrances. It can smell great on Keith and shitty on me. Yeah. And, and that's the, you have different chemical reaction. Everyone goes. So good. I say it's $49 it's cheap, but I buy it at the drug store because that's the only ways I can find it. You know, Target, not Target, but, you know, Thrifties has it and Walgreens has it. That's so interesting. Why is it not popular? It smells so good. You know, it's just there's so much fragrance out there. There used to be men's fragrances. There would be maybe 10 or 12 watches. And oh, my God. What's what's the most expensive you sell? The most Clive Christian.

1:34:46How much is it? The retail is $1,100. What does it smell like? Okay. Who makes who is it? Who makes it? Clive Christian is the brand. It's really it but it doesn't smell that good. I mean, it's nice. But I have stuff. What do you have to pay for it? My wholesale is about three like 290. Do a lot of people buy it? The niche market is like really expanding. And that's where I've really put a lot more capacity. Interesting. That's good. Well, I'm fascinated that I can't find JUPE anywhere but the drug store. Now you can't. Despy, we got the source. We'll do a trade, we'll do a trade. Yeah, we got one trade we did. We got one that we get $5,000 worth of pizzas and beef bourguignon every month. What's the other one we got? Trades. What are the zany trades we've got? Oh, I'm getting I get 30 pairs of glasses every quarter eye glasses. I like trading. It's fine So I After going through your program the first time Um, I I saw it I never I usually just skip over it But um, I was like, oh, this is a really cheap like I can buy mercedes bags for three four dollars So I bought about $1,000 worth of bag about a little bit less than $1,000.

1:36:30So 300. And then when I went to get my car serviced, I spoke to the to the service manager. And then through him, I spoke to you obviously have a Mercedes. Yeah. If he had a BMW, it wouldn't work as well. Yeah, I went to the the finance guy. And I was like, Hey, I'll trade you service for these bags. So I got three service worth about $3,000 for about $900. So- Yeah, but you only paid, oh, you paid a thousand. Okay, but here's the thing. It works for them because they probably had a three to one in service. Oh yeah, for them, it was like nothing. I have, and we'll get to this time allowing. I have actually set up barter profit centers for car dealers. Here's why. A car dealer just asked a piece of minutia. Sort of interesting. Car dealers, even small ones, they generate tons and tons. It's a big business. I mean, some do a couple hundred million dollars and it's not all profit. They're spending money on all kinds of things. People watch their windows, carpet, oil, chemicals. I have set up profit, harder profit centers where they would go and they would trade the services they're paying for, for a car at twice, at two to one. So if you're Mercedes stickered for a hundred and I'm using his window washing and it's a hundred thousand a year.

1:37:54I'd say, I'll tell you, I'll trade you a car for two years of your window washing and I'll lease it to you and I'll pay for it at the end of the lease. So I'm basically getting $200,000. I'm paying basically two grand a month for it, right? I don't have to pay it off until he does it. If he doesn't do it, I get credits on it. We've done that all along and you get two to one. Sort of interesting, isn't it? That's good, I like that. Okay, now I'm gonna have all the juke. I'm going to have $2,000 to smell like I'm going to go. Oh, my God. Oh, you want to hear something even funnier? I have no olfactor. So I spray the whole bottle on every day. And everybody goes, I can't, I can't smell it. So I have to spray it till I can smell it, which means about a half a bottle. I go through a lot. I've had received so many different insights. I've just been writing pages here. But I think that the one sentence you made before about how many ways have you not been taking advantage of your business assets. It's going to be something that I'm really going to think because I've never thought about it before. The other thing that I really found very insightful was the process training. And I will go back to Europe where I've come from and try to go through translate all of this

1:39:16into Italian and see how my team of Italian employees and team members actually absorb all of these things. But you just, you just set up for me the essence of what I believe. You just said what I told you. I've never thought about it that way before. When you can achieve that in somebody's mind, if they've never thought about it as a positivity, you own mindshare. and that has a much higher chance of getting action and engagement and commitment. Very good. Also another thing Jay that you mentioned before. You like the way I smell, don't you? I have to come closer. I'm one of the people down here that has been freezing, so don't see me with this sweat around my neck. But something else that you mentioned this morning and that is to, even if something goes wrong, and I have been following your course now for three years and applying a lot of what of all of the things that I've learned. Some things have backfired, not of my own volition, but because you've told me about some of that, that you have a bit of a awkwardness if I remember with some of the organizations that you've tried to deal with. Correct. But I stepped outside and this again is a little bit but thinking outside the box, which you will do things differently.

1:40:37And so I actually held a series of seminars last year. And I managed to get politicians involved and the heads of the board of engineers. And we were discussing legislation that had been enacted, which was fine. It was great. It was positioning the company and the brand, everything. But then everything went sour because the Italian government decided to lock down on all of the subsidies. And what had initially been a tax incentive actually turned sour. So everybody was against it. At that point I had to pivot and I'm doing it again. And I've noticed that other people are beginning to imitate me. So obviously the thinking behind it has stemmed stemmed in somebody else's mind, that it may be a new way of positioning yourself. Yeah, interesting. Well, I mean, it's a pleasure meeting you finally, and you're a very impressive person. Interesting. You know, we were in what's Recony, what's the city outside of, and not Milan, it's coastal. We were there right, what's the city it's it's initially where in italy yeah okay genoa no it's outside we flew into bologna and then we would take we drove about two hours and it was coastal okay well if it was so i wouldn't say rikoni but it's not the right pronounce yet which uh richone richone is

1:42:18It's on the beautiful side. Anyhow, doesn't really matter. We were there right when they closed everything down. I was getting ready to do on a Friday, 5,000 people all day for a group. And I've been, I've done four or five groups and I, I gone for four or five years and they had me doing a whole day. And then I got a call that night saying, Oh, oh, the government closed everything. You got to get out of the country. that night saying, oh, oh, the government closed everything. You got to get out of the country. And it was a nightmare to get out. We had to get, like, in the middle of the night, we got a car to drive us back to Bologna. We had to get to France where we're coming from. I had to do a program that I promised in a niece. I got to niece and they canceled that. And it was getting harder to get out. That was terrible. This was just when they locked down with first locked. Okay. That was at the end of February, beginning of March, 2020. Okay. I was February. Yep. It was terrible. It was really stressful. I'm sure it was much more stressful for you, but it wasn't fun for us. We were going, Oh, and my wife kept saying this is bad. And I got, it's not bad. She goes, this is bad. I'm getting out of town.

1:43:29And I go, that's no problem. She goes, what do you think? Everyone's wearing a mask. And I said, Oh, Why do you think everyone's wearing a mask? And I said, well, I don't know. We just have to- What do you mean the fact? I was in, I had the stupid good fortune of going to Beijing right in the middle of SARS and everyone's wearing mask. And I took one of my kids and we get off the plane and everybody but us has a mask on and we're going, hmm, this piece of my dish next. I got to say thank you for all your ideas. We doubled our business three years ago when we got turned on to all your ideas. So we've implemented. Tell me, cause you know, and I don't, what do you do? We do water filtration in home services. We install equipment in people's homes and businesses. Are they expensive? Six grand average ticket. And then where do you do it at? Knoxville, Tennessee, so like a two hour coverage area. And so, and how do you get your leads and your clients? Referrals, strategic partnerships, radio, Google ads. was the one thing that gave you the biggest impact on the double. Changing the sales team to have less people that are better because a B player costs you way more than a player. They waste opportunity costs. Yeah, it's insane. We shrunk our sales staff and grew.

1:44:51That's a crash. What'd you get today? Um, referral strategies, we get like 9,000 phone calls a year. A year. Okay. And I was thinking with referrals. And these all outside leads from advertising referrals, everybody. Yeah, it could be existing clients that have systems where all right, but on the ones that are existing if we said hey You know We give you two hundred dollars for a referral your filter changes coming up if you turn one in we'll give you this money If we did that on every phone call and then behind it we emailed to reiterate Then we could kick up some more referrals. Yeah, if I have time I got a lot of ground and we probably won't get through all of it But I'll do some role playing with you all and you can throw scenarios like that. Maybe I can actually go into state and articulate some examples. There's a lot of ways to turn, you know, some people are motivated by money, others are motivated by other considerations soft. And if you said, Hey, if you get me, and I always qualify because the thing I always hated if there's real truth here, I apologize, but they go, Oh, you give me a client, I'll give you $300. It's sort of crass and there are ways to do it that are very, very, very elegant and impactful and the difference is the same thing you said it's between here and here.

1:46:14And so I'll see if I can go in the state tomorrow for you. Okay. Okay, great. Cool. Thanks. Okay, what do you think, how is it that we live up to expectations was it worth 15 hour flight, and, and the arduous I'm a little bit jet lagged at the moment so low in energy, but. Just he has great jazz. That's the mic. I'm actually like Keith I. I've been listening to you already for 15 years or something and we. 15. 15. Okay. 15. No. That would have been five so that would would be a little bit strange but. So tons of ideas and also today, even when I hear stories that I've heard a couple of times already, then still there's new things that I get from them so. And one of the things that I well YouTube is one of the things that I'm planning on to do. And I just messaged the guy who's very good in it to ask me to ask him to help me with it because he's a specialist. Yeah. So that's one thing. And I got also lots of ideas in implications, things to work on. So yeah, tons of ideas. And I don't have a good source. There's a guy we met that we almost were going to use ourselves who trained you on how to do it yourself. I don't like doing it myself. I like somebody who's better to do it for us. But we were going to do it when this guy is only 14, 15 grand to train you.

1:47:47you, but he had this document that looked like a 30-page legal document to get $14,000 training, and I refused to sign it. We never did it. But we'll get you his name, and you can evaluate him because he seems to be pretty good. And there's probably other people out there, but I think all of you that have high ticket and there's a word for it. It's like a contemplated purchase as opposed to an impulse purchase, because the more contemplated, the more things like that have value. The more impulsive, it's really hard, but a lot of these expensive, intangible, they're much more contemplating than you think today. People do a lot of checking. Also, obviously, you know this, but one of the variables that impact result is proof, credibility, and that's testimonials, that's reviews, and there is correlation as long as they're authentic. The more you have and the more specific and dimensional they have, and I can explain maybe, Brian, just make a list of the things I promise to do. And even if we run out of time, I'll try to do a catch all at the end. But there's certain things most people don't try to do. You can get, you can help your clients give you great, great reviews and testimonials, but you have to frame it for them. And sometimes what you do is interview them and then take your

1:49:10your own interview out. Sometimes you interview them. And then it's better translated to written. There's all kinds of ways to get great ones. And again, everything I do mediocre is this great is here. So all things being equal, you want to play always up here. And you want to control the outcome. Yes, next. Jake brought, asked this great question of Evan Carmichael. What did he ask? What did he ask? He was asking about, well, how does YouTube perform internationally? And it outperforms the U.S. by a huge factor. So if you have an audience that does not speak English, if you do a little translation, it can hit that audience far higher than an English-speaking YouTube. You too. So we use that here again. Hi Jay. I've been following you for many, many years, 20 years. Wow, you don't look that old. Yeah, I don't. Were you like three? Do you have a lot of juice? 17. How old are you? I'm 44 this year. Okay. Okay, where do you live? Singapore. I love Singapore. I haven't been there for a while. I'll tell you something really embarrassing. I got a chance to buy in, What's the gorgeous place where the houses are? Sentosa? Yeah, when it was first and they were cheap and I thought, ah, I would never buy those. Now they're, I know.

1:50:32Tell me if they sent those, what is the average house? Like 10 million now, 20? 20, I think. Yeah, and it's really lovely. Okay. Yeah, so I've been following you and implemented many things and it's really wonderful and working. So today I've gone through the session and I realized that I really need to think the real value that my customers and employees. So I've not been thinking about my employees, what kind of value that the company is able to bring to them. Yeah, that's really great. I love that you say that. Because I wasn't as focused until I mean, I've been influenced by some wonderful people. And that's really the sleeper. That's the biggest asset that you don't really get full leverage out of. And, and, and you don't because most people take instead of trying to give. And their hopes, dreams, and if you can grow and develop them, some will leave, but even the ones that leave, if you grow and develop them, it comes back to you. Yeah, that's great. I love that. Thank you. Thank you. Hi, Jay. Eric and I joined a couple of years ago, two and a half, three years ago. It's been a wonderful experience. And I think one of the biggest things I got today again is the reiteration. I've listened to your tapes and our videos that says my age, doesn't it?

1:51:57At least they're not LPs. Over and over again. And the biggest thing that's made it an impact for me is preeminence and looking at what, like he said, what kind of value do I bring and how am I impacting people. And that played into when you said what play the game that I can win. It just kind of rolls out into everything, not just that I can win. But how can I help the people I'm working with win? Good, very good distinction. Thank you. Okay, so I've gone through your training multiple times. And every time I'm always getting something new out of it, because it's just it's so much that we're able to that we're given that takes a lot to digest. For today, one of the big ones that I got was one of the pivots. It was the R&D pivot. It's the concept of going in. It's something that I do all the time. I just go in and I do some research here and there, but I've never really thought about dedicating time or money or resources to a specified level to be able to do the right types of R&D for a business specifically and dedicate it to improve the growth of the business. I think that's something that has value in itself that I now need to start implementing. And that's a good insight. Thank you. I'm glad you picked up on that. Very few people do. Thank you.

1:53:22Thank you. So I've been learning you for a couple of decades this first time we've ever been the same. Rob didn't tell me how what your relationship was with my body of work. So that's good. Did I deliver so far? Yeah, no, it's been great. It's been a great, you know, kind of going back and hitting the fundamentals, you know, blocking and tackling kind of stuff. Certainly some things that I need to work harder on, I guess, preeminence, referral systems, and, you know, the point of opening new markets. We had this gigantic opportunity in Canada and I've personally had kind of a bad attitude about it because it's kind of a hassle. But it really is a good opportunity. So it's changed my mind. Good for you. I'm glad. That's great. Thank you. Thank you. All right. Let's take a 12 minute break.