WEBVTT
1
00:00:00.231 --> 00:00:06.055
If CityTurf was valued like SpaceX, we'd be worth $2.7 billion.
2
00:00:06.095 --> 00:00:11.738
For anyone watching, just take your revenue, multiply it 150, and that's your valuation of your lawn care business.
3
00:00:12.579 --> 00:00:19.403
Once you get to a high level of wealth and tax complication and trust complication, like one answer pays for a lot.
4
00:00:19.703 --> 00:00:21.704
I just pulled the data because I was interested.
5
00:00:21.724 --> 00:00:23.345
I pulled a couple of locations close to you.
6
00:00:24.105 --> 00:00:26.026
And we're getting leads for like $10.
7
00:00:26.307 --> 00:00:26.747
And they're good.
8
00:00:27.567 --> 00:00:36.872
I believe as you become a more senior leader inside an organization, your predominant job is getting the right people on the team and coaching people and getting the wrong people off the team.
9
00:00:36.892 --> 00:00:38.353
Like your job is to grow people.
10
00:00:38.793 --> 00:00:40.514
So whatever you, I would invest in them.
11
00:00:40.754 --> 00:00:42.075
Franchisees are exact same thing.
12
00:00:42.115 --> 00:00:43.916
Whatever you got to do to invest in them, you do that.
13
00:00:44.256 --> 00:00:45.357
That's how you grow this business.
14
00:00:45.657 --> 00:00:46.537
Welcome back, everyone.
15
00:00:46.777 --> 00:00:48.218
Another week, another podcast.
16
00:00:48.778 --> 00:00:49.279
Hey, everyone.
17
00:00:49.619 --> 00:00:50.599
We're going to jump right in.
18
00:00:51.159 --> 00:00:53.980
And I got the craziest cold open of the day.
19
00:00:54.441 --> 00:00:55.041
Oh, great.
20
00:00:55.541 --> 00:00:56.642
Yeah.
21
00:00:57.022 --> 00:00:58.202
We're going to do a little bit of everything.
22
00:00:58.282 --> 00:01:03.484
I had like, I was like, you know, I could have these three different cold opens over the next three episodes or just do it all in one.
23
00:01:03.504 --> 00:01:04.385
So we're going to do it all in one.
24
00:01:04.865 --> 00:01:08.707
But we're going to need to keep your answers tight because I have like eight of these.
25
00:01:08.767 --> 00:01:09.267
Okay, so.
26
00:01:09.667 --> 00:01:10.788
First, first tie.
27
00:01:10.928 --> 00:01:12.690
Do you know who you're talking to here?
28
00:01:13.170 --> 00:01:14.672
The first section is just hot takes.
29
00:01:14.752 --> 00:01:16.493
OK, all right.
30
00:01:16.533 --> 00:01:17.134
Hot takes.
31
00:01:17.154 --> 00:01:18.755
Yeah, these are the longer ones.
32
00:01:18.835 --> 00:01:19.416
They're not too hot.
33
00:01:19.436 --> 00:01:19.756
Don't worry.
34
00:01:20.157 --> 00:01:23.600
OK, so the first one, should there be a minimum wage?
35
00:01:24.100 --> 00:01:26.042
And if so, what should it be?
36
00:01:26.422 --> 00:01:30.648
I say no because prices will just rise immediately to minimum wage.
37
00:01:30.668 --> 00:01:31.509
It makes no difference.
38
00:01:32.150 --> 00:01:32.551
I don't know.
39
00:01:33.092 --> 00:01:33.813
That's my, yeah.
40
00:01:34.093 --> 00:01:34.754
There's your hot take?
41
00:01:35.115 --> 00:01:35.435
Okay.
42
00:01:35.475 --> 00:01:42.265
I mean, I think there should be a minimum wage, but I just, the idea that we take it to 25 bucks an hour doesn't, in my opinion, fix the problem.
43
00:01:42.545 --> 00:01:42.725
Right.
44
00:01:43.045 --> 00:01:43.165
Okay.
45
00:01:43.185 --> 00:01:44.006
All right.
46
00:01:44.146 --> 00:01:46.987
If you were the Fed chair, so recently Kevin Warsh just got in.
47
00:01:47.248 --> 00:01:49.649
Today was his first press conference.
48
00:01:50.049 --> 00:01:54.892
But if you were the Fed chair for one year, what would you change with interest rates and how would you do it?
49
00:01:55.132 --> 00:01:55.872
Oh my gosh.
50
00:01:56.593 --> 00:01:57.673
This requires thought.
51
00:01:57.693 --> 00:01:58.954
My first inclination...
52
00:01:59.454 --> 00:02:02.076
My first thought is I wouldn't lower interest rates right now.
53
00:02:02.356 --> 00:02:03.116
Would you increase them?
54
00:02:03.437 --> 00:02:11.522
I would need – you don't want me being the Fed chair, but my answer is I would not change anything right now.
55
00:02:11.682 --> 00:02:16.805
I'd have to get in and understand the data better, but I wouldn't in this moment say I'd raise them either.
56
00:02:17.380 --> 00:02:18.020
No, it's interesting.
57
00:02:18.040 --> 00:02:21.122
I listened to a little bit of his initial press conference.
58
00:02:21.462 --> 00:02:30.687
You can tell they're basically going to redo all the numbers, how inflation is calculated, how unemployment, which probably is necessary, but they're just going to bake the numbers they want to see.
59
00:02:30.707 --> 00:02:31.288
It's going to be great.
60
00:02:31.848 --> 00:02:32.468
I hope not.
61
00:02:32.628 --> 00:02:36.350
But I do understand the argument for updating the numbers.
62
00:02:36.450 --> 00:02:37.871
I've heard some stuff about that over time.
63
00:02:37.891 --> 00:02:40.973
And when I at least when I hear one perspective, it's like, oh, yeah, that makes sense.
64
00:02:41.379 --> 00:02:44.103
Okay, so the next part of the cold open, because that was the first two questions.
65
00:02:44.123 --> 00:02:44.944
Those are hot tips.
66
00:02:45.405 --> 00:02:51.595
This one, I just need one bit of information or one piece of advice for two different business owners.
67
00:02:51.875 --> 00:02:55.841
Okay, so I'm going to express who this is and it needs to be relationship advice.
68
00:02:56.522 --> 00:02:56.783
Okay.
69
00:02:57.303 --> 00:02:59.385
So relationship advice for two different types of entrepreneurs.
70
00:02:59.405 --> 00:03:01.487
The first entrepreneur is a single guy.
71
00:03:01.507 --> 00:03:05.090
His business is doing $400,000 in annual revenue.
72
00:03:05.530 --> 00:03:08.352
He's 22 years old and he's looking for a wife.
73
00:03:08.392 --> 00:03:09.273
So he's currently single.
74
00:03:09.914 --> 00:03:12.096
What piece of advice off the top of your dome is,
75
00:03:12.736 --> 00:03:14.716
Would you give this young man to find a wife?
76
00:03:14.977 --> 00:03:15.157
Yeah.
77
00:03:15.437 --> 00:03:21.898
He's looking for a wife to find them or just general advice at this, this size of business and stage of life.
78
00:03:22.118 --> 00:03:23.158
I don't know what I want to say here.
79
00:03:25.679 --> 00:03:27.219
I feel like you played it pretty well.
80
00:03:27.639 --> 00:03:31.060
Heads down, build through your twenties, then go find a wife.
81
00:03:31.640 --> 00:03:31.880
Okay.
82
00:03:31.900 --> 00:03:35.061
So after like 29, 30, that's when you look for a wife.
83
00:03:35.301 --> 00:03:36.562
It's a dang good strategy.
84
00:03:36.742 --> 00:03:37.782
How old were you when you got married?
85
00:03:38.362 --> 00:03:38.923
Oh, I was 21.
86
00:03:39.023 --> 00:03:39.143
Okay.
87
00:03:40.103 --> 00:03:43.525
It worked for me, but I know other people got married at my age and they got divorced.
88
00:03:43.545 --> 00:03:44.465
How do you do what you want?
89
00:03:44.926 --> 00:03:45.226
Yeah.
90
00:03:45.506 --> 00:03:48.827
And I would not talk somebody out of getting married.
91
00:03:48.847 --> 00:03:50.088
See, this is where we turn in longer.
92
00:03:50.548 --> 00:03:56.831
And so I don't know that I'm really answering your question, but I would just think there's nothing wrong with just building, building.
93
00:03:57.692 --> 00:04:01.954
If you don't already have a girlfriend that could be your wife, I don't think it's imperative to go find one.
94
00:04:02.014 --> 00:04:04.115
If you're really passionate about business, just build the thing.
95
00:04:04.135 --> 00:04:04.235
Yeah.
96
00:04:04.935 --> 00:04:06.695
And worry about that later.
97
00:04:06.755 --> 00:04:08.696
I don't think you have to solve that problem immediately.
98
00:04:08.716 --> 00:04:09.916
But everybody's wired differently.
99
00:04:10.156 --> 00:04:11.756
I started dating Tiffany who was 17.
100
00:04:11.796 --> 00:04:13.457
It just happened to work out that way.
101
00:04:13.577 --> 00:04:16.517
It wasn't a problem I was trying to solve for.
102
00:04:16.797 --> 00:04:17.077
Got it.
103
00:04:17.377 --> 00:04:17.997
I don't think I answered.
104
00:04:18.037 --> 00:04:19.698
Did I answer that the way you?
105
00:04:20.118 --> 00:04:24.479
Down the road, we can do a much longer monologue about the pros, the cons, etc.
106
00:04:25.279 --> 00:04:26.699
I'm pro-marriage.
107
00:04:26.779 --> 00:04:28.299
I am pro-marriage.
108
00:04:28.399 --> 00:04:31.860
But there is no greater opportunity to go all in on building.
109
00:04:32.437 --> 00:04:33.298
Yeah, I get you.
110
00:04:33.318 --> 00:04:33.538
All right.
111
00:04:33.899 --> 00:04:35.721
That leads me to entrepreneur number two.
112
00:04:35.741 --> 00:04:36.141
Okay.
113
00:04:36.442 --> 00:04:38.784
This individual is married.
114
00:04:39.145 --> 00:04:40.326
They're 45 years old.
115
00:04:40.566 --> 00:04:42.869
They have two kids in their early 20s.
116
00:04:43.109 --> 00:04:45.692
They have a business that is $1.2 million in revenue.
117
00:04:46.293 --> 00:04:47.214
It's really profitable.
118
00:04:47.835 --> 00:04:50.277
But there's now stress in the relationship because they've grown apart.
119
00:04:50.498 --> 00:04:52.460
What piece of advice would you give to this entrepreneur?
120
00:04:52.866 --> 00:05:01.234
Questions have to be asked, but I would tell you that at this point, you probably have grown apart because you're living two different lives.
121
00:05:01.274 --> 00:05:02.895
Like maybe she's living the kid life.
122
00:05:02.955 --> 00:05:03.395
I don't know.
123
00:05:03.456 --> 00:05:12.283
This is where you expect you're living the business life and your communications maybe are too much about the business or just too much about the kids, but they're not really...
124
00:05:13.064 --> 00:05:14.324
anything else at this point.
125
00:05:14.744 --> 00:05:23.166
And so it has to be a very concerted effort to stop talking about the business, stop talking about the kids and start talking about other things in life.
126
00:05:23.746 --> 00:05:35.788
Date nights, going on weekend trips together, finding things you can do together, eating dinner together, like all this stuff and maybe therapy, maybe getting somebody to help you work through it.
127
00:05:36.008 --> 00:05:41.809
I've not, we've not done therapy or anything like that, but I have several business friends that have done it and they swear by it.
128
00:05:42.905 --> 00:05:56.771
And so I think there's a connotation around it like something's wrong, but it could just be you're just wanting a facilitator to have the conversations that are hard to start on your own because there's been a distance and a gap for so long.
129
00:05:57.171 --> 00:06:06.355
Like if you go too long with a business partner or a marriage or a spouse or anything and you don't talk about a thing, it's really awkward to ever start the conversation.
130
00:06:06.435 --> 00:06:07.816
It's really awkward to ever –
131
00:06:09.157 --> 00:06:10.058
cut that divide.
132
00:06:10.118 --> 00:06:17.808
And so sometimes just having somebody help you do that is enough to just get the conversation started where both parties feel heard.
133
00:06:18.229 --> 00:06:19.590
So I'd be very intentional.
134
00:06:19.991 --> 00:06:21.313
And those are some of the things I think about.
135
00:06:22.104 --> 00:06:22.444
I love it.
136
00:06:22.604 --> 00:06:24.305
Side note on that topic.
137
00:06:24.425 --> 00:06:30.727
Renee, I think it's Renee, Dan Martell's wife has a YouTube channel, and she did a couple podcasts with the two of them together.
138
00:06:30.987 --> 00:06:31.508
They're really good.
139
00:06:31.888 --> 00:06:32.488
I sound agree.
140
00:06:32.908 --> 00:06:33.248
Yeah, yeah.
141
00:06:33.268 --> 00:06:37.510
So Dan told me, oh, I did a thing with him.
142
00:06:37.870 --> 00:06:39.491
He's from Ireland.
143
00:06:39.711 --> 00:06:40.491
I don't know him or anything.
144
00:06:40.531 --> 00:06:44.093
I met him in 14 through Yannick Silver, a guy, and...
145
00:06:45.393 --> 00:06:46.654
I was really impressed with him.
146
00:06:47.395 --> 00:06:55.123
And then probably like four years ago, Dan told me that he and Renee do a thing with him, I think every year.
147
00:06:55.143 --> 00:06:57.125
And he's like, it's phenomenal.
148
00:06:57.185 --> 00:06:58.466
You've got to go do it with Tiffany.
149
00:06:59.032 --> 00:06:59.872
It was in Ireland.
150
00:06:59.892 --> 00:07:03.714
I think in Ireland, I think, well, I think he bought a castle to do it out of.
151
00:07:03.754 --> 00:07:04.054
Yeah.
152
00:07:04.074 --> 00:07:04.895
He's an interesting guy.
153
00:07:04.915 --> 00:07:06.535
I think he had built a big coffee business.
154
00:07:07.095 --> 00:07:07.476
We did.
155
00:07:07.656 --> 00:07:10.837
I did this thing with him in Aruba, I think.
156
00:07:11.897 --> 00:07:14.078
And anyway, he's great.
157
00:07:14.198 --> 00:07:15.599
I really thought he was really good.
158
00:07:15.619 --> 00:07:17.380
But anyway, I was surprised when Dan's like, Oh yeah.
159
00:07:17.720 --> 00:07:17.780
He,
160
00:07:18.040 --> 00:07:20.261
Renee and I, we work with this guy.
161
00:07:20.341 --> 00:07:21.121
He's fantastic.
162
00:07:21.141 --> 00:07:21.941
And we go to Ireland.
163
00:07:22.261 --> 00:07:24.202
I came back and asked Tiffany if she was interested.
164
00:07:24.222 --> 00:07:25.182
She's like, yeah, I'd do that.
165
00:07:25.622 --> 00:07:29.623
Well, then we just went on about years of traveling and it never made our calendar.
166
00:07:29.643 --> 00:07:30.583
And I actually forgot about it.
167
00:07:30.603 --> 00:07:31.264
So you brought it up now.
168
00:07:32.044 --> 00:07:32.224
Wow.
169
00:07:32.604 --> 00:07:32.864
Very cool.
170
00:07:32.884 --> 00:07:33.004
Okay.
171
00:07:33.024 --> 00:07:33.484
All right.
172
00:07:33.504 --> 00:07:34.324
We got close.
173
00:07:34.344 --> 00:07:35.085
See, that wasn't brief.
174
00:07:35.185 --> 00:07:35.545
Wasn't brief.
175
00:07:35.585 --> 00:07:36.965
All right.
176
00:07:37.145 --> 00:07:39.086
This part of the cold open is rapid fire.
177
00:07:39.106 --> 00:07:39.386
Okay.
178
00:07:39.706 --> 00:07:39.926
Okay.
179
00:07:39.946 --> 00:07:41.606
So these are gonna be non-business stuff.
180
00:07:41.626 --> 00:07:43.727
This is more or less just audience getting to know you a little bit more.
181
00:07:44.007 --> 00:07:45.007
It's simple A or B.
182
00:07:45.027 --> 00:07:45.527
All right.
183
00:07:45.627 --> 00:07:46.448
Which would you prefer?
184
00:07:46.668 --> 00:07:47.248
Either A or B.
185
00:07:47.848 --> 00:07:48.168
or B.
186
00:07:48.288 --> 00:07:49.009
And you don't have to say air B.
187
00:07:49.229 --> 00:07:49.949
Just tell me which one.
188
00:07:49.989 --> 00:07:51.270
If you want to think through it, you can.
189
00:07:51.730 --> 00:07:52.750
But it's just four.
190
00:07:52.770 --> 00:07:56.132
Just don't say more than, I hear you, I hear you.
191
00:07:56.232 --> 00:08:01.995
Okay, so from a health perspective, do you prefer a cold plunge or a sauna?
192
00:08:02.235 --> 00:08:02.555
Sauna.
193
00:08:02.875 --> 00:08:03.476
Oh, very interesting.
194
00:08:03.536 --> 00:08:03.796
Okay.
195
00:08:04.548 --> 00:08:07.192
Second, perfect date night or a preferred date night.
196
00:08:07.672 --> 00:08:09.595
Painting class or sports event?
197
00:08:09.915 --> 00:08:10.316
Sports.
198
00:08:10.516 --> 00:08:10.836
Really?
199
00:08:10.956 --> 00:08:11.677
Okay, I didn't know that.
200
00:08:11.737 --> 00:08:12.018
Okay.
201
00:08:12.298 --> 00:08:14.100
Third, better viewing.
202
00:08:14.581 --> 00:08:18.947
UFC, NBA finals, there's a third one, or World Cup?
203
00:08:19.490 --> 00:08:21.712
UFC, but Tiffany would strongly disagree.
204
00:08:23.474 --> 00:08:24.295
Would she be World Cup?
205
00:08:24.555 --> 00:08:24.755
Yes.
206
00:08:24.775 --> 00:08:27.077
Because she'd probably gone to soccer because of the boys, right?
207
00:08:27.458 --> 00:08:28.599
Oh, oh my gosh.
208
00:08:28.659 --> 00:08:29.059
Riley.
209
00:08:29.620 --> 00:08:30.040
Okay.
210
00:08:30.080 --> 00:08:31.262
Riley played academy soccer.
211
00:08:31.322 --> 00:08:32.383
It's like it never ended.
212
00:08:32.503 --> 00:08:32.663
Yeah.
213
00:08:32.783 --> 00:08:32.883
Okay.
214
00:08:32.943 --> 00:08:33.444
All right.
215
00:08:33.504 --> 00:08:33.944
Last one.
216
00:08:34.465 --> 00:08:35.185
Preferred workout.
217
00:08:35.586 --> 00:08:40.791
Do you do full body lift when you're doing weights or do you do upper and lower body splits?
218
00:08:40.811 --> 00:08:41.231
Splits.
219
00:08:41.672 --> 00:08:41.912
You do?
220
00:08:41.972 --> 00:08:42.152
Okay.
221
00:08:42.312 --> 00:08:42.533
All right.
222
00:08:43.053 --> 00:08:43.213
Cool.
223
00:08:43.353 --> 00:08:44.253
There's your cold open.
224
00:08:44.513 --> 00:08:44.854
All right.
225
00:08:45.954 --> 00:08:46.334
All right.
226
00:08:46.474 --> 00:08:47.194
I survived it.
227
00:08:47.514 --> 00:08:48.435
What are you working on this week?
228
00:08:48.455 --> 00:08:49.875
I know last week, a lot of data stuff.
229
00:08:50.035 --> 00:08:51.375
Is it still working on...
230
00:08:51.635 --> 00:08:53.576
I'm working on a lot of stuff, but I got my...
231
00:08:54.316 --> 00:08:56.817
It's hard to describe how giant of a project this was.
232
00:08:57.237 --> 00:08:59.058
I got my marketing calendar nailed down.
233
00:08:59.418 --> 00:09:03.799
And I think I probably did a marketing calendar at a level most people don't think about.
234
00:09:04.519 --> 00:09:06.920
And then I also created, I said this before, this...
235
00:09:07.715 --> 00:09:14.478
It was a big project, this task list that defines everything that has to continue happening in the business on an ongoing basis and who owns it.
236
00:09:14.518 --> 00:09:15.359
I got all that done.
237
00:09:15.679 --> 00:09:22.782
And in doing so, a project that I had started a while back that I was going to I was doing it for.
238
00:09:23.183 --> 00:09:28.985
We're moving to every chat to run our business from a communications marketing standpoint.
239
00:09:29.846 --> 00:09:33.568
And I'm waiting for something to get built in there, which is the tiering of our clients.
240
00:09:34.485 --> 00:09:37.308
And so I started this project where I tiered all of our clients.
241
00:09:37.348 --> 00:09:38.229
I'll explain that.
242
00:09:38.329 --> 00:09:40.571
And I was just waiting for this to get done in the product.
243
00:09:41.111 --> 00:09:43.774
Well, after going through it, so I kind of just put the project on hold.
244
00:09:43.794 --> 00:09:47.717
But after going through my marketing calendar and everything, I resurrected this project.
245
00:09:47.777 --> 00:09:49.939
And it's my top project to finish this week.
246
00:09:50.660 --> 00:09:55.324
And what it is, is it's basically a ranking of every client in our system into four tiers.
247
00:09:56.105 --> 00:09:58.246
So tier one client, tier two, tier three, tier four.
248
00:09:58.866 --> 00:10:03.288
I also have all the data for every home that I could potentially serve in my market.
249
00:10:03.508 --> 00:10:08.910
The neighborhood they're in, the home value, all this other data, it's tiering that entire prospective base.
250
00:10:09.790 --> 00:10:14.232
And the tiering becomes critical because it determines how I market to different
251
00:10:14.692 --> 00:10:18.616
classes of people, how I talk to them, how we serve them customer service wise.
252
00:10:19.076 --> 00:10:26.062
And then when you get into the prospects, who gets direct mail, who gets what kind of packages, who doesn't get any physical touches, things like that.
253
00:10:26.643 --> 00:10:28.264
So it drives all decision making.
254
00:10:28.284 --> 00:10:29.946
So I have to finish this tiering project.
255
00:10:30.546 --> 00:10:30.986
And I'm doing it now.
256
00:10:31.006 --> 00:10:31.747
I have a question about that.
257
00:10:31.767 --> 00:10:32.208
I have a question.
258
00:10:32.228 --> 00:10:33.529
I know you still got to keep going on this.
259
00:10:33.549 --> 00:10:33.909
No, I'm good.
260
00:10:33.949 --> 00:10:34.229
I'm good.
261
00:10:34.289 --> 00:10:34.570
I'm good.
262
00:10:35.050 --> 00:10:36.312
The hardest part about that is weighting.
263
00:10:36.512 --> 00:10:40.557
Because when you have multiple variables, it's like, well, is the home value the higher weight?
264
00:10:41.018 --> 00:10:43.100
Or is the lifetime value of the customer?
265
00:10:43.180 --> 00:10:44.602
Or is the type of service?
266
00:10:45.023 --> 00:10:48.267
That's always been the hardest for me when I come to tiering.
267
00:10:49.569 --> 00:10:52.913
It becomes still a subjective game of what do I put the most weight on?
268
00:10:53.315 --> 00:10:53.876
100%.
269
00:10:54.036 --> 00:11:04.586
And the other one is there's factors I can't score yet that I'm hoping to convince Riley to build into every chat, which is referral waiting.
270
00:11:04.846 --> 00:11:07.268
I need to understand who referred who.
271
00:11:07.749 --> 00:11:09.771
It was something we were always going to build into Service Autopilot.
272
00:11:09.791 --> 00:11:11.252
It actually is in Service Autopilot.
273
00:11:11.272 --> 00:11:11.612
It's hidden.
274
00:11:12.578 --> 00:11:14.680
A little side note about service hot bite.
275
00:11:14.980 --> 00:11:16.481
That's in service hot bite hidden.
276
00:11:16.561 --> 00:11:22.705
And so is a whole entire affiliate marketing functionality piece to turn all your clients into referral people.
277
00:11:23.625 --> 00:11:24.706
And we never released it.
278
00:11:25.247 --> 00:11:27.688
It's another one of my brainchilds that never got done.
279
00:11:28.409 --> 00:11:30.010
Anyway, my point is, I really believe in this.
280
00:11:30.190 --> 00:11:36.214
Like when you think about the value of a client, you could say, hey, the value of the client is based on what services are they buying?
281
00:11:36.534 --> 00:11:37.415
Are they higher margin?
282
00:11:37.435 --> 00:11:37.975
Right.
283
00:11:38.075 --> 00:11:42.958
the pain in the butt factor of this person, their propensity to buy additional services.
284
00:11:43.298 --> 00:11:45.319
Like you could come up with all these scoring criteria.
285
00:11:45.359 --> 00:11:50.562
Well, one of the major scoring criteria has to be, do they refer and how many people have they referred?
286
00:11:51.062 --> 00:11:59.727
Like a client that refers four clients versus a client refers nobody is way more valuable than a client that, like if I have a client that buys one service,
287
00:12:00.367 --> 00:12:02.608
but refers two people a year.
288
00:12:03.049 --> 00:12:05.911
And I have a client that buys three services, but refers nobody.
289
00:12:06.031 --> 00:12:08.652
The client that refers is way more valuable to me.
290
00:12:09.213 --> 00:12:09.713
Hands down.
291
00:12:10.033 --> 00:12:14.296
Are you tiering it based upon, like what's the factor between tier one and tier two?
292
00:12:14.576 --> 00:12:15.417
Is it a point system?
293
00:12:16.192 --> 00:12:17.513
Yeah, so I'm sorry, I got distracted.
294
00:12:17.553 --> 00:12:25.939
I was saying that there's tiering functionality that I can't include right now that will include heavier weighting later, but I need software to do it.
295
00:12:26.499 --> 00:12:29.181
So that's where that went down the road of the referrals.
296
00:12:29.662 --> 00:12:32.403
It's also where the paid in the back factor comes in.
297
00:12:32.764 --> 00:12:43.031
So right now when I'm tiering, I'm tiering based on where they live, what services they're buying that are stacked rank by gross margin.
298
00:12:43.391 --> 00:12:45.293
I'm tiering based on...
299
00:12:45.993 --> 00:12:56.241
this very lousy thing we've tried to build that tries to figure out if they're a pain in the butt client or a good client.
300
00:12:57.001 --> 00:13:01.545
And then total revenue, which is a little less.
301
00:13:02.185 --> 00:13:03.706
That they're billed, that accrued?
302
00:13:04.787 --> 00:13:10.211
No, total revenue that they are spending with us at this exact moment.
303
00:13:10.791 --> 00:13:15.395
So when it comes to accrued, I don't value that as much because I just do projections.
304
00:13:16.392 --> 00:13:16.792
I don't know.
305
00:13:17.473 --> 00:13:18.914
Maybe that's flawed, not flawed.
306
00:13:19.335 --> 00:13:24.479
But if somebody's been with me for six years, yeah, they're really, really valuable.
307
00:13:25.039 --> 00:13:34.267
But if somebody's only been with me for one year, and I am only looking and I'm looking at accrued revenue, that massively devalues what could be an incredibly valuable client.
308
00:13:34.547 --> 00:13:39.231
And so that waiting, I didn't give that a lot of value.
309
00:13:41.549 --> 00:13:42.949
I mean, yeah, so interesting.
310
00:13:43.050 --> 00:13:44.450
I wanted to do this so bad.
311
00:13:44.950 --> 00:13:45.630
It's really hard.
312
00:13:46.191 --> 00:13:54.073
It's well, the thing is, I started I convinced myself not to do it once I started being like, OK, if I do this has 10 percent weight versus 20 percent.
313
00:13:54.153 --> 00:13:55.353
Oh, I just changed all the tiers.
314
00:13:55.834 --> 00:13:59.975
Or if, for example, to your point, referral, someone who does referral has so much more value.
315
00:14:00.455 --> 00:14:04.636
Well, is it like five X the value as their lifetime gross profit?
316
00:14:05.057 --> 00:14:06.097
So like it got
317
00:14:06.477 --> 00:14:09.921
To the point, too, where I couldn't do it across Augusta because everyone has different values.
318
00:14:09.961 --> 00:14:16.529
Like, for some people, revenue with a lower gross profit is more valuable than because it fills in their off-season, for example.
319
00:14:17.090 --> 00:14:18.451
I think it's different by company.
320
00:14:18.992 --> 00:14:20.194
It's got such a bad idea.
321
00:14:20.214 --> 00:14:21.595
It has to be different by company.
322
00:14:22.176 --> 00:14:23.357
This isn't a new idea.
323
00:14:23.377 --> 00:14:24.859
This is an idea back in the service.
324
00:14:24.899 --> 00:14:25.159
I mean—
325
00:14:26.401 --> 00:14:29.364
The volume of things that never got built into my vision of ServiceLotipide.
326
00:14:29.384 --> 00:14:30.365
This is an example.
327
00:14:30.425 --> 00:14:34.529
But even back then, I remember thinking you could never just define this for people.
328
00:14:35.150 --> 00:14:35.830
I had a name.
329
00:14:36.111 --> 00:14:37.392
Yeah, I mean, anyway.
330
00:14:37.892 --> 00:14:39.694
We were trying to, because we do the same thing.
331
00:14:39.714 --> 00:14:41.976
We do this internally for the franchise owners.
332
00:14:42.617 --> 00:14:44.460
Because we have much more parameters.
333
00:14:44.860 --> 00:14:47.764
Internally, we know the health score of every location.
334
00:14:48.305 --> 00:14:50.929
And so we know who needs help, who's crushing it, etc.
335
00:14:51.229 --> 00:14:54.133
Is that based on MPS or is that based on this data?
336
00:14:54.193 --> 00:14:55.936
We don't even put in MPS.
337
00:14:56.056 --> 00:14:57.077
It's simply based upon...
338
00:14:57.698 --> 00:15:04.840
the amount of recurring revenue, their profit margins, the percentage of efficiency of labor, a bunch of stuff in the back and we plug into it and then that gives us health score.
339
00:15:05.260 --> 00:15:08.621
And we were really trying to think about this for homeworks.
340
00:15:08.721 --> 00:15:12.802
Like, how can we just give people a health score of a client like you just see it like, oh, it's red, it's green.
341
00:15:12.842 --> 00:15:13.242
It's it.
342
00:15:13.562 --> 00:15:16.923
But man, it's just it's a bag of a bunch of variables.
343
00:15:16.943 --> 00:15:20.244
And if you tweak one too much or put too much weight on one, it can throw it off.
344
00:15:20.905 --> 00:15:27.713
I think what you're at risk of, I've thought about with the software, is your risk of building this thing that sounds so wonderful, but then nobody ends up using it for those exact reasons.
345
00:15:28.293 --> 00:15:38.005
And so to solve the problem for me, because I've got a lot of holes in the data, I'm just only taking it so far for now, and then we'll re-rate all of our client base in the future as we have more ability.
346
00:15:38.486 --> 00:15:39.387
But I've got to have something.
347
00:15:40.093 --> 00:15:41.254
Yeah, that's super cool.
348
00:15:41.414 --> 00:15:43.475
So yeah, you finish now the marketing calendar.
349
00:15:43.495 --> 00:15:44.175
That's basically.
350
00:15:44.375 --> 00:15:45.936
Calendar, task, that stuff.
351
00:15:46.056 --> 00:15:48.257
It sounds so, I finished my task list.
352
00:15:48.297 --> 00:15:49.218
It sounds like nothing.
353
00:15:49.378 --> 00:15:52.379
This, it was miserable projects to finish.
354
00:15:52.639 --> 00:15:53.900
It was, they were really miserable.
355
00:15:54.940 --> 00:15:56.701
I actually just wrapped up one of them last night.
356
00:15:56.721 --> 00:15:58.002
I went to bed at four o'clock this morning.
357
00:15:58.482 --> 00:16:04.786
So I just, it's like pulling teeth to get me to finish these because there's so much thought and decision making that has to go into it.
358
00:16:04.926 --> 00:16:07.527
So I just kept finding I want to go do something else.
359
00:16:07.567 --> 00:16:09.108
So anyway, yeah, those are done.
360
00:16:09.348 --> 00:16:10.209
Tiering's next.
361
00:16:10.269 --> 00:16:17.813
And then I got so many projects going, but I got key projects that I try to spend most of my time on until they're done.
362
00:16:17.833 --> 00:16:18.954
And then I move to the next one.
363
00:16:19.194 --> 00:16:21.636
And the tiering is a bottleneck to some of my next projects.
364
00:16:21.656 --> 00:16:22.476
So I got to get it done.
365
00:16:22.616 --> 00:16:22.836
Cool.
366
00:16:23.037 --> 00:16:23.437
What about you?
367
00:16:23.457 --> 00:16:23.657
All right.
368
00:16:24.659 --> 00:16:29.983
This week, so we kind of went to phase two of the MCP axis.
369
00:16:30.504 --> 00:16:32.185
So now there's a whole bunch more people inside.
370
00:16:32.205 --> 00:16:34.687
So I was able to go and see some things that people are doing.
371
00:16:34.927 --> 00:16:39.211
So it's code ready that people – is it beta?
372
00:16:39.811 --> 00:16:40.772
Yeah, it's beta.
373
00:16:40.832 --> 00:16:41.633
So phase two beta.
374
00:16:41.653 --> 00:16:41.833
Yeah.
375
00:16:42.273 --> 00:16:42.793
Yeah, exactly.
376
00:16:42.813 --> 00:16:43.894
We'll do the third phase too.
377
00:16:43.974 --> 00:16:45.674
So we're going to just do it slow.
378
00:16:45.954 --> 00:16:47.975
But yeah, just seeing some of the use cases, people get creative.
379
00:16:47.995 --> 00:16:48.596
It was really cool.
380
00:16:48.636 --> 00:16:55.378
For example, I actually specifically went and looked at what you had talked about last week, like data attribution, and then tying it to like channel churn.
381
00:16:55.398 --> 00:16:57.659
It was like, okay, if they came from Facebook, what's the churn?
382
00:16:57.699 --> 00:16:59.580
If they come from a door hanger, what's the churn?
383
00:16:59.840 --> 00:17:01.201
If they come from Google, what's the churn?
384
00:17:02.321 --> 00:17:03.701
And man, it is great.
385
00:17:03.822 --> 00:17:06.182
So there's some really cool stuff that members are building.
386
00:17:06.222 --> 00:17:08.964
It's just so cool to see what they're building, stuff I didn't even think of.
387
00:17:10.324 --> 00:17:13.185
When you say building, they're just building as a prompt, right?
388
00:17:13.685 --> 00:17:13.985
Correct.
389
00:17:14.045 --> 00:17:14.185
Yeah.
390
00:17:14.265 --> 00:17:15.125
It's just really the prompt.
391
00:17:15.145 --> 00:17:19.947
And most of it's useful for reporting because we will never be able to build every report that everyone wants to see.
392
00:17:20.007 --> 00:17:22.067
This is one of the greatest things about this.
393
00:17:22.128 --> 00:17:23.848
I think about like a Service Alpine 2.0.
394
00:17:23.888 --> 00:17:28.349
It's like, I would have had to do all this reporting stuff that nobody will ever be happy with.
395
00:17:28.369 --> 00:17:30.030
This is like the solution to that problem.
396
00:17:30.050 --> 00:17:30.770
I love it.
397
00:17:31.190 --> 00:17:32.531
You just keep legacy reports.
398
00:17:32.571 --> 00:17:33.671
Just keep legacy reports.
399
00:17:36.812 --> 00:17:50.979
um what what is so you've seen cool things that have been built what's the biggest like technical challenge like oh crud this is uh has is anything like that presented itself just yet you're like oh this is a big decision we have to make internally
400
00:17:51.819 --> 00:17:55.760
Well, right now, the biggest one has been like, I'm going to eat the cost.
401
00:17:56.020 --> 00:17:57.180
I want to see people.
402
00:17:57.380 --> 00:17:58.261
Of tokens?
403
00:17:58.921 --> 00:17:59.101
Yeah.
404
00:17:59.121 --> 00:18:03.802
Of tokens or like our data cost or like a hosting cost because you're hitting.
405
00:18:04.002 --> 00:18:07.723
Because eventually it'll mean you have to scale more instances of services or servers.
406
00:18:08.063 --> 00:18:08.803
A little bit of both.
407
00:18:09.003 --> 00:18:09.603
A little bit of both.
408
00:18:09.683 --> 00:18:11.904
Right now, it's like, hey, what are the parameters we got to put in place?
409
00:18:11.944 --> 00:18:16.945
But like, I want the box to be open because I feel like if I'm like from day one, hey, we're charging.
410
00:18:16.965 --> 00:18:17.205
Yeah.
411
00:18:17.425 --> 00:18:20.546
So few people get in and then nothing interesting gets built inside the community.
412
00:18:20.646 --> 00:18:21.006
I agree.
413
00:18:21.026 --> 00:18:21.626
That's a good idea.
414
00:18:22.066 --> 00:18:29.068
And so I'm like, hey, let's let's eat the cost, let people in and then down the road, we'll put the parameters because there's people that get in there and they will hit that thing.
415
00:18:29.188 --> 00:18:32.829
Like, my goodness, they can go they can go crazy really fast.
416
00:18:33.169 --> 00:18:35.909
And so, yeah, been very interesting.
417
00:18:35.949 --> 00:18:43.091
The second thing I've been working on this week was I had mentioned a couple weeks ago, the upsell calls that we're doing for on the phone for Augusta.
418
00:18:43.491 --> 00:18:44.351
I went out and did some.
419
00:18:44.712 --> 00:18:46.392
So I got on the phone and just started doing it.
420
00:18:46.692 --> 00:18:49.993
Just to get the rep, see where some of the holes are, what's working, what's not.
421
00:18:50.193 --> 00:19:03.098
It was super eye-opening and just really, really solid to be able to get hands-on with the customers, what it feels like from an agent's perspective, where the gaps are in information for the agent to actually do a good upsell.
422
00:19:03.618 --> 00:19:04.698
But it was fun.
423
00:19:04.818 --> 00:19:08.060
I actually did some of it I got on video, and I'll post it.
424
00:19:08.500 --> 00:19:08.980
Oh, that's cool.
425
00:19:09.460 --> 00:19:13.684
On the back end for your AI model, what model do you use?
426
00:19:13.944 --> 00:19:17.307
For what I'm building?
427
00:19:17.648 --> 00:19:21.311
Are you guys only passing data to the front end model?
428
00:19:21.331 --> 00:19:26.596
Like if they're using ChatGPT, you're just gathering the data and passing it.
429
00:19:26.856 --> 00:19:30.039
Have you AI enabled with a model your system in any way yet?
430
00:19:30.379 --> 00:19:31.360
In Claude.
431
00:19:31.400 --> 00:19:31.780
You are.
432
00:19:31.800 --> 00:19:33.202
In terms of an MCP connector.
433
00:19:33.737 --> 00:19:35.217
Okay, so you just built it for Claude.
434
00:19:35.578 --> 00:19:36.098
Correct, yeah.
435
00:19:36.118 --> 00:19:37.538
Okay, that's what, okay, all right.
436
00:19:37.558 --> 00:19:45.921
Yeah, like, yeah, there's so many ways to do it once you open up the API, but right now we're just doing a connector with Claude.
437
00:19:46.181 --> 00:19:46.281
Okay.
438
00:19:46.301 --> 00:19:47.341
That's what our focus on.
439
00:19:47.441 --> 00:19:47.681
Okay.
440
00:19:47.761 --> 00:19:50.082
And then I think down the road, we'd open up some other elements.
441
00:19:50.102 --> 00:19:50.522
Okay.
442
00:19:50.622 --> 00:19:50.882
Cool.
443
00:19:50.942 --> 00:19:52.002
That's what I've been working on.
444
00:19:52.042 --> 00:19:52.302
Okay.
445
00:19:52.622 --> 00:19:52.922
Fantastic.
446
00:19:52.942 --> 00:19:54.983
We are going to go into our first question.
447
00:19:55.463 --> 00:19:57.563
The first couple of questions of the day are a little different.
448
00:19:57.663 --> 00:20:00.884
So it's what questions we want to ask each other.
449
00:20:01.164 --> 00:20:04.185
Now, we have not talked to each other about these or given any heads up.
450
00:20:04.765 --> 00:20:06.945
I've prepared two questions that I'm going to ask JP.
451
00:20:07.425 --> 00:20:11.926
And then if you have any questions, you're welcome to ask me anything.
452
00:20:12.186 --> 00:20:13.927
I have two questions.
453
00:20:14.027 --> 00:20:14.567
I love this.
454
00:20:14.647 --> 00:20:15.087
I like this.
455
00:20:15.127 --> 00:20:16.067
I thought this was a cool idea.
456
00:20:16.467 --> 00:20:18.949
Yeah, I thought last week's episode, I thought it was really good.
457
00:20:19.069 --> 00:20:20.269
It just came out this morning.
458
00:20:20.449 --> 00:20:20.610
Yeah.
459
00:20:20.670 --> 00:20:26.973
Like, I enjoyed last week's episode because I took actual things away from our conversation and implemented it within an hour.
460
00:20:27.494 --> 00:20:28.975
And I think you had some similar things.
461
00:20:29.135 --> 00:20:29.775
Yeah, I liked that.
462
00:20:29.895 --> 00:20:32.277
I listened to it at 1.30 this morning while I was walking.
463
00:20:33.918 --> 00:20:34.938
1.30, you were doing a walk?
464
00:20:34.958 --> 00:20:36.359
I would have been at 4 o'clock this morning.
465
00:20:36.519 --> 00:20:37.060
Bro.
466
00:20:38.140 --> 00:20:40.682
I'm in a really bad place from this whole sleeping thing right now.
467
00:20:42.843 --> 00:20:43.103
Oh, man.
468
00:20:43.183 --> 00:20:43.363
Okay.
469
00:20:43.383 --> 00:20:43.584
All right.
470
00:20:43.604 --> 00:20:45.525
Well, I'll ask you my questions first.
471
00:20:45.925 --> 00:20:46.025
Okay.
472
00:20:46.045 --> 00:20:46.986
And then we'll see.
473
00:20:47.426 --> 00:20:47.926
We'll go from there.
474
00:20:48.086 --> 00:20:51.709
So the first question I have is about dealing with public backlash.
475
00:20:52.509 --> 00:20:58.833
So what are actionable things you had to learn or do to regulate your emotions and lead better?
476
00:20:59.173 --> 00:21:04.637
And specifically, if you have examples or stories, I know you had already a bit of a personal brand.
477
00:21:05.417 --> 00:21:08.902
and online presence that really launched a lot of service autopilot.
478
00:21:09.422 --> 00:21:10.804
But what did you have to learn?
479
00:21:10.924 --> 00:21:20.316
I think one of the things I've mentioned before in the show is just my respect for your emotional regularity, like lower highs and higher lows.
480
00:21:21.177 --> 00:21:23.579
and being able to stay composed in those moments.
481
00:21:23.880 --> 00:21:36.250
But what were some of the things you actually had to learn or specific things that you would do to make sure you could regulate your emotions and lead, especially internally, the team, but also the external facing backlash that's coming your way?
482
00:21:36.628 --> 00:21:50.232
You know, I never really had to get comfortable with getting a lot of negativity on social media because I never built that big of a channel, even though it was really successful in terms of driving revenue at Service Autopilot leads.
483
00:21:50.912 --> 00:21:59.954
But Service Autopilot, that was a different thing because you just deal with so many challenges, building software and meeting expectations and then problems happen.
484
00:22:00.274 --> 00:22:01.815
There's no getting around the problems.
485
00:22:02.275 --> 00:22:03.055
It's impossible.
486
00:22:04.095 --> 00:22:20.731
So, the one thing that I think the first thing that came to mind that I feel like I've really learned in dealing with really hard stuff where you're kind of stuck, and I don't know if we've talked about this already on this in our whatever number of episodes we've done, but it's this idea.
487
00:22:20.791 --> 00:22:22.692
This is probably one of the biggest takeaways for me.
488
00:22:23.033 --> 00:22:25.995
It's this idea that my brain will just cycle.
489
00:22:26.796 --> 00:22:33.238
And I will go over the solution and over the solution and just constantly because I like facts and details.
490
00:22:33.258 --> 00:22:34.378
So I'm always trying to solve.
491
00:22:34.778 --> 00:22:35.898
Like, what's the solution here?
492
00:22:36.519 --> 00:22:39.699
And it just becomes this negativity in my mind.
493
00:22:39.759 --> 00:22:42.880
I'm not really a person that just gets stuck dwelling on problems forever.
494
00:22:43.280 --> 00:22:45.681
I more live a little in the future than I live in the past.
495
00:22:46.121 --> 00:22:48.662
But I will cycle on solving something forever.
496
00:22:48.682 --> 00:22:49.302
Yeah.
497
00:22:49.382 --> 00:22:50.362
and just bring it back up.
498
00:22:50.442 --> 00:22:58.744
And so that whenever I would get into a bad place where things weren't going good, I was frustrated with the company, it's going too slow.
499
00:22:58.924 --> 00:23:07.066
I was frustrated with a situation in the company or we had really screwed up, like servers are keep dropping or whatever.
500
00:23:08.046 --> 00:23:12.347
We promised everybody nine months ago you were gonna get this functionality, whatever the scenario is.
501
00:23:12.387 --> 00:23:14.588
And that's where you feel like you're taking a mental beating.
502
00:23:15.268 --> 00:23:18.909
My thing I use to this day is to constantly ask myself,
503
00:23:19.569 --> 00:23:21.050
Have I identified the problem?
504
00:23:21.310 --> 00:23:22.591
Have I figured out what it is?
505
00:23:22.651 --> 00:23:26.133
Have I figured out what the next few steps are with absolute clarity?
506
00:23:26.293 --> 00:23:27.554
And am I doing the next step?
507
00:23:27.875 --> 00:23:30.736
And that's a really simplistic thing.
508
00:23:30.796 --> 00:23:38.501
But for me, it helped because I would constantly just reanalyze the problem and what we need to be doing, constantly rethink it.
509
00:23:38.581 --> 00:23:45.106
And so then you end up just dwelling on this thing and you're not, it drains all the energy and life out of you and you're not moving forward.
510
00:23:45.126 --> 00:23:48.828
And so what I got comfort in was I am doing something
511
00:23:49.068 --> 00:23:50.789
I believe we have made the right decision.
512
00:23:50.829 --> 00:23:51.909
We're doing everything possible.
513
00:23:51.929 --> 00:23:54.170
We're doing the best thing for the client, doing the best thing for the team.
514
00:23:54.570 --> 00:23:55.511
Here's the next action.
515
00:23:55.651 --> 00:23:56.431
I am working it.
516
00:23:56.571 --> 00:23:59.632
And as soon as that's done, I will work the next action and the next action.
517
00:23:59.712 --> 00:24:01.693
And that brought me a lot of mental relief.
518
00:24:01.733 --> 00:24:07.235
It didn't solve the problem, but it brought this structure to the situation.
519
00:24:07.696 --> 00:24:09.596
That's the first one that came to mind.
520
00:24:10.097 --> 00:24:10.617
The other one...
521
00:24:11.737 --> 00:24:12.698
I want to hear about the next one.
522
00:24:13.238 --> 00:24:17.340
I think the thing for me that's hardest is when it's the nine month problem.
523
00:24:17.500 --> 00:24:20.561
It's not something that is like, hey, I hear you.
524
00:24:20.661 --> 00:24:21.641
I will fix this tomorrow.
525
00:24:21.781 --> 00:24:23.922
It's not like that's not that.
526
00:24:23.962 --> 00:24:24.663
Those are the easiest.
527
00:24:24.743 --> 00:24:25.683
I love those problems.
528
00:24:26.163 --> 00:24:27.204
That was never my problem.
529
00:24:27.224 --> 00:24:28.284
It's the longer stuff.
530
00:24:28.664 --> 00:24:30.985
It's the stuff where you don't know the servers.
531
00:24:31.025 --> 00:24:34.987
Why do I have to keep rebooting these three front end servers online?
532
00:24:35.627 --> 00:24:37.088
This was a real service all-pilot thing.
533
00:24:37.708 --> 00:24:40.448
Every two weeks because people are calling in and saying it got slower.
534
00:24:40.468 --> 00:24:41.209
We can see the data.
535
00:24:41.249 --> 00:24:42.589
It's like all of a sudden the thing got slow.
536
00:24:42.909 --> 00:24:43.729
Why is it getting slow?
537
00:24:43.949 --> 00:24:46.690
So we have to reboot the server and everything is great for two weeks and it's slow again.
538
00:24:46.950 --> 00:24:48.371
And we're just chasing a problem.
539
00:24:48.771 --> 00:24:49.611
And we're like, can't find it.
540
00:24:49.631 --> 00:24:53.412
It's like that kind of stuff where it's like, this is a terrible experience for people.
541
00:24:54.092 --> 00:24:55.492
You know, we had a lot of service.
542
00:24:55.512 --> 00:24:57.233
Yeah, well, you know, we had a lot of service.
543
00:24:57.253 --> 00:25:00.414
So in that scenario, maybe 15% of people are being impacted by it.
544
00:25:00.674 --> 00:25:02.154
Well, today, 15%.
545
00:25:02.194 --> 00:25:03.935
And in three days, there'll be a different 15%.
546
00:25:03.955 --> 00:25:05.155
And five days, there'll be a different 15%.
547
00:25:05.295 --> 00:25:07.235
It's like, that's, this is terrible.
548
00:25:07.255 --> 00:25:11.656
We got it, you know, that kind of stuff would eat at me because it felt like we were letting people down.
549
00:25:12.117 --> 00:25:13.217
And we didn't know the answer.
550
00:25:14.017 --> 00:25:21.001
And so that's those just as to what you said, it wasn't the we've got a problem and I can deal with this tomorrow.
551
00:25:21.021 --> 00:25:22.101
We can fix this for them.
552
00:25:22.141 --> 00:25:23.182
And that's done.
553
00:25:23.262 --> 00:25:27.724
It's the stuff that lingered that was going to take forever was behind or we didn't know it.
554
00:25:27.864 --> 00:25:29.325
We didn't have the answer just yet.
555
00:25:30.186 --> 00:25:30.846
Second example.
556
00:25:31.186 --> 00:25:33.747
Man, the other one, I know I've talked about this.
557
00:25:34.707 --> 00:25:40.209
One of the great things about being a dad is you just really think about how everything happens in life.
558
00:25:40.229 --> 00:25:42.630
You can say whatever you want to your kids.
559
00:25:42.870 --> 00:25:44.371
It's all about what you do.
560
00:25:44.631 --> 00:25:49.152
And so it's like I would use an example of somebody's a smoker and they tell their kids not to smoke, but they smoke.
561
00:25:49.732 --> 00:25:50.993
That's not going to work.
562
00:25:51.173 --> 00:25:52.213
So you have to live it.
563
00:25:52.633 --> 00:25:53.254
You have to live it.
564
00:25:53.334 --> 00:25:55.374
So I was always reminded myself
565
00:25:57.215 --> 00:25:59.556
And I always reminded myself, I am the example.
566
00:25:59.796 --> 00:26:02.256
So people have to see me calm.
567
00:26:02.797 --> 00:26:07.398
And so how can I calm myself?
568
00:26:07.438 --> 00:26:08.798
Breathing, I think, is a big thing.
569
00:26:08.838 --> 00:26:10.079
Just to be conscious.
570
00:26:10.099 --> 00:26:11.499
Two things I always remind myself of.
571
00:26:12.279 --> 00:26:13.200
This sounds so silly.
572
00:26:13.580 --> 00:26:15.280
I can picture this because we had an office.
573
00:26:15.320 --> 00:26:18.901
I drive to work, and I would think in the morning when I drive to work, I need to smile.
574
00:26:19.982 --> 00:26:24.483
Because I literally would try to smile while I'm driving to work because...
575
00:26:25.303 --> 00:26:26.424
I will get really serious.
576
00:26:26.464 --> 00:26:29.626
Like when I'm thinking about a problem, I'll look, I might do it on the air.
577
00:26:29.666 --> 00:26:32.208
Like I might look like I'm upset or frustrated.
578
00:26:32.428 --> 00:26:33.909
I'm not, I'm just processing.
579
00:26:33.929 --> 00:26:34.330
I'm working.
580
00:26:34.370 --> 00:26:36.111
So I can remind myself that.
581
00:26:36.131 --> 00:26:39.293
And then the one is like breathing and because you're the example.
582
00:26:39.353 --> 00:26:42.656
So how do you be as calm as you can possibly be?
583
00:26:42.716 --> 00:26:44.357
Because people are looking for confidence.
584
00:26:44.617 --> 00:26:59.076
The other thing that I constantly remind myself of, talked about this one too, is, and you're absolutely at this place in your career, and many people are, it's like if you think back about all the stuff that you thought was going to take you down or all the stuff that you
585
00:26:59.797 --> 00:27:01.278
You were so stressed about it.
586
00:27:01.478 --> 00:27:02.299
And here you are today.
587
00:27:02.339 --> 00:27:02.959
It's worked out.
588
00:27:03.019 --> 00:27:04.400
You figured out a solution.
589
00:27:04.760 --> 00:27:09.203
You didn't, you know, most people, like some people run from their stuff and don't solve them.
590
00:27:09.263 --> 00:27:21.252
But yeah, I'm talking to the person that like you continually, as I say, engineer a solution to the problem where you and the team together figured out that if you dwell on that and pay real close attention, that that should give you extreme confidence.
591
00:27:22.112 --> 00:27:25.834
So whatever you're stuck in right now, it's like, hey, I've been doing this for a decade.
592
00:27:25.874 --> 00:27:27.294
We've always solved it.
593
00:27:27.774 --> 00:27:32.216
It has not been fun and it hasn't been fast, but we have always solved it.
594
00:27:32.316 --> 00:27:33.377
Why would this be different?
595
00:27:33.997 --> 00:27:40.780
Those are so that I think there's an element where you just have to like inject some positivity into a really bad situation.
596
00:27:41.400 --> 00:27:42.761
The fourth would be like work out hard.
597
00:27:43.943 --> 00:27:46.684
Work out really hard to de-stress.
598
00:27:46.885 --> 00:27:48.085
Don't go home and drink vodka.
599
00:27:48.385 --> 00:27:49.446
Go run.
600
00:27:49.506 --> 00:27:50.226
Go lift weights.
601
00:27:50.266 --> 00:27:51.727
Go do, because that is imperative.
602
00:27:51.747 --> 00:27:52.628
Not at 1.30 in the morning.
603
00:27:52.688 --> 00:27:54.108
Not at 1.30 in the morning.
604
00:27:54.148 --> 00:27:56.670
Yeah, exactly.
605
00:27:56.710 --> 00:27:58.170
So those are four things that come to mind.
606
00:27:58.671 --> 00:27:58.791
Cool.
607
00:27:58.811 --> 00:27:59.191
All right.
608
00:27:59.231 --> 00:28:00.352
Second question I have for you.
609
00:28:00.372 --> 00:28:04.854
Probably a similar vein, but I'm 30 years old.
610
00:28:05.474 --> 00:28:06.074
I don't need to ask.
611
00:28:06.215 --> 00:28:07.235
I don't know how old you are.
612
00:28:07.315 --> 00:28:08.015
Are you in your 50s?
613
00:28:08.556 --> 00:28:08.936
I'm 50.
614
00:28:09.656 --> 00:28:10.517
You're 50 on the nail?
615
00:28:10.537 --> 00:28:10.597
No.
616
00:28:11.483 --> 00:28:12.983
Let's go.
617
00:28:13.343 --> 00:28:13.724
Come on.
618
00:28:14.124 --> 00:28:15.284
You're going to live to 120.
619
00:28:15.304 --> 00:28:16.744
Remember last week's podcast?
620
00:28:17.204 --> 00:28:17.704
We'll see.
621
00:28:18.425 --> 00:28:20.985
No, it's like I've always been – I wasn't happy when I was 30.
622
00:28:21.125 --> 00:28:22.226
I mean I'm happy.
623
00:28:22.526 --> 00:28:23.006
I'm happy.
624
00:28:23.066 --> 00:28:23.946
I've always been happy.
625
00:28:24.166 --> 00:28:28.167
It's like when I was 20, I was like, golly, I'm already – I'm 25.
626
00:28:28.407 --> 00:28:29.187
I got so much to do.
627
00:28:29.287 --> 00:28:29.627
I'm 30.
628
00:28:29.647 --> 00:28:30.407
I got so much to do.
629
00:28:30.888 --> 00:28:32.408
So for me, that's how 50 feels.
630
00:28:32.428 --> 00:28:37.929
Like I want to be able to do all the – I want to be able to do all the athletic stuff and not one day not be able to do it.
631
00:28:38.009 --> 00:28:39.390
So that's where it comes from.
632
00:28:39.450 --> 00:28:41.050
I need to quit whining about it, but yeah.
633
00:28:41.450 --> 00:28:41.483
Thank you.
634
00:28:42.315 --> 00:28:44.536
Okay, well, then that might actually, you might have answered the question.
635
00:28:44.556 --> 00:28:44.756
All right.
636
00:28:45.076 --> 00:28:53.899
So what would the current 50-year-old version of JP tell the 30-year-old version of JP to stop worrying about?
637
00:28:54.319 --> 00:28:56.160
Could be in life, business, anything.
638
00:28:56.760 --> 00:29:00.621
I've just convinced in life I've been wired to optimize for safety.
639
00:29:00.921 --> 00:29:03.482
I mean, to this day, I can't unwind the wiring.
640
00:29:03.562 --> 00:29:05.143
I still think about, is it enough?
641
00:29:05.203 --> 00:29:10.985
It's like so beyond, if anybody knew my number, they'd be like, this is the dumbest thing I've ever, like, what, how?
642
00:29:11.025 --> 00:29:11.345
How?
643
00:29:11.645 --> 00:29:13.606
Like, how could you even ever think about this again?
644
00:29:13.646 --> 00:29:14.366
It'll never matter.
645
00:29:14.426 --> 00:29:15.547
There's no chance it could matter.
646
00:29:16.907 --> 00:29:20.469
But there's still the program running in the back of my mind where I'm like, well, it's enough.
647
00:29:20.729 --> 00:29:23.691
But I've come to learn a lot of entrepreneurs do this like a little bit more.
648
00:29:24.691 --> 00:29:27.152
And so, but I've always had that wiring.
649
00:29:27.412 --> 00:29:34.376
Yeah, that would be the simple answer is it'll all be fine and you will have plenty.
650
00:29:34.996 --> 00:29:36.036
And I had plenty already.
651
00:29:37.257 --> 00:29:40.539
Would you tell that 30-year-old version of yourself to take more risk with the money?
652
00:29:40.559 --> 00:29:41.039
Yes.
653
00:29:41.059 --> 00:29:43.880
Or would you tell them to enjoy the money more?
654
00:29:44.441 --> 00:29:46.282
You know, this is the thing.
655
00:29:47.062 --> 00:29:51.644
If you have the advantage of hindsight, then you say take way more risk.
656
00:29:51.944 --> 00:29:53.565
But we don't know what's going to happen.
657
00:29:53.965 --> 00:29:56.847
So when I look back and say, did it work out?
658
00:29:57.007 --> 00:29:58.167
Yeah, it worked out really well.
659
00:29:58.267 --> 00:29:58.708
Was I...
660
00:29:59.368 --> 00:30:03.211
Did I put myself in a position where I was constantly stressed because I was taking risks?
661
00:30:03.251 --> 00:30:05.533
No, not at all.
662
00:30:05.553 --> 00:30:10.497
I played a conservative game, which worked for me financially, and I did not stress about...
663
00:30:10.737 --> 00:30:15.280
I didn't stress about money like, oh my gosh, the business is going to be... Is the business going to be okay?
664
00:30:15.320 --> 00:30:16.621
I didn't have any of those stresses.
665
00:30:17.522 --> 00:30:20.284
I believed that I would be fine financially.
666
00:30:20.604 --> 00:30:23.467
I just always thought, will it be enough?
667
00:30:23.867 --> 00:30:26.629
It's like this little thing of more, more, more runs in my head.
668
00:30:26.809 --> 00:30:28.491
That's where it's like an unnecessary...
669
00:30:30.051 --> 00:30:38.157
So I would take more risks knowing how I know the economy worked out and the world worked out and politics worked out, but we don't know what the next 20 years looks like.
670
00:30:38.498 --> 00:30:43.822
So if I look at it from a purely analytical standpoint, I was protected along the way.
671
00:30:44.243 --> 00:30:47.045
If really bad stuff happened, my businesses were not going away.
672
00:30:47.345 --> 00:30:50.949
And so I think I made the right decision for me, how I'm made.
673
00:30:51.229 --> 00:30:56.014
But in the hindsight of history, I should have financed everything and leveraged everything.
674
00:30:56.495 --> 00:30:56.955
But I didn't.
675
00:30:58.017 --> 00:30:59.078
And I have a lot more if I did.
676
00:30:59.118 --> 00:30:59.979
But who cares?
677
00:30:59.999 --> 00:31:03.162
So is that clear on how I answered that?
678
00:31:03.202 --> 00:31:03.402
Yeah.
679
00:31:05.004 --> 00:31:05.425
Yeah, totally.
680
00:31:05.445 --> 00:31:12.492
So it was the worry about money and that you were too conservative in your in your bets, essentially.
681
00:31:12.812 --> 00:31:19.780
Yeah, but the conservative gave me a level of peace because of my underlying program that's running for safety.
682
00:31:20.480 --> 00:31:20.881
Interesting.
683
00:31:21.212 --> 00:31:21.432
Okay.
684
00:31:21.532 --> 00:31:21.753
All right.
685
00:31:21.893 --> 00:31:22.133
Heard.
686
00:31:22.793 --> 00:31:22.914
Okay.
687
00:31:22.934 --> 00:31:24.475
I was digesting it for my own self.
688
00:31:24.495 --> 00:31:29.039
I'm in that same boat of like, I still have so many opportunities to put the money back in.
689
00:31:29.779 --> 00:31:31.621
And I don't worry about money.
690
00:31:31.661 --> 00:31:32.902
I don't at all.
691
00:31:33.343 --> 00:31:35.464
And so I'm a little different in your regard.
692
00:31:35.524 --> 00:31:36.265
I think I'm business.
693
00:31:36.285 --> 00:31:37.706
I make very conservative decisions.
694
00:31:38.167 --> 00:31:39.168
I don't worry about money.
695
00:31:39.568 --> 00:31:39.928
I don't know.
696
00:31:40.048 --> 00:31:40.848
It's just different.
697
00:31:40.968 --> 00:31:42.029
It's an interesting topic.
698
00:31:42.049 --> 00:31:43.389
So let's just go slightly further.
699
00:31:43.869 --> 00:31:57.373
I wonder if some of why I worried about money was from a religious standpoint because of what I believed was coming in the future, just to be very clear, how I saw the world back when I was... And it was unnecessary wiring.
700
00:31:57.813 --> 00:31:59.293
I also think some of it was...
701
00:31:59.453 --> 00:32:03.094
I got married at 21, and it wasn't just me.
702
00:32:04.194 --> 00:32:06.355
I had a wife, and then I had kids.
703
00:32:07.235 --> 00:32:12.998
And so that brought this whole, like, they need to be okay if something happens to me.
704
00:32:13.298 --> 00:32:21.162
It wasn't, like, I feel like if it had always just been me, then I could have just, I would have been more free with money because the only person that gets hurt is me.
705
00:32:21.743 --> 00:32:25.705
But as soon as I had family, it's, I still think this way.
706
00:32:27.045 --> 00:32:28.326
I've noticed like, oh, wow.
707
00:32:28.406 --> 00:32:32.887
I mean, I think if it was just me today, I would probably work even more than I work.
708
00:32:32.967 --> 00:32:36.629
And I would spend, I would probably invest a little more aggressive.
709
00:32:36.649 --> 00:32:38.309
And I'm like, I could do that now.
710
00:32:38.329 --> 00:32:40.050
It doesn't even matter.
711
00:32:40.110 --> 00:32:41.711
But I noticed that in my brain.
712
00:32:41.751 --> 00:32:45.372
So I think I was pretty impacted because I got married so young.
713
00:32:45.392 --> 00:32:50.494
There are advantages to this, but because I had such responsibility at such a young age,
714
00:32:51.114 --> 00:32:55.415
It wasn't just me that I was taking care of financially and I didn't want to let Tiffany down.
715
00:32:55.455 --> 00:33:02.518
Like the idea that I might have blown it all up and she's on the ride with me, that was very much on my mind.
716
00:33:02.538 --> 00:33:06.479
So I think those are two of the factors that wired me for this security thing.
717
00:33:07.419 --> 00:33:08.300
In your case...
718
00:33:09.215 --> 00:33:12.577
Man, I mean, to be where you're at at 30, you're marching in.
719
00:33:12.657 --> 00:33:15.718
I mean, you've got such momentum at this point.
720
00:33:16.758 --> 00:33:18.759
It's going to be very hard to stop it.
721
00:33:19.199 --> 00:33:22.361
I mean, even whether you invest massively or not.
722
00:33:23.060 --> 00:33:25.601
What's funny is that when I got married, it almost was the opposite.
723
00:33:25.821 --> 00:33:34.185
I went, I think seeing someone else spend the money a little bit helped me realize like, oh, I can go get more of that and I don't need to worry about it.
724
00:33:34.645 --> 00:33:39.788
And I almost started, I don't have that mentality of like, okay, if something happened to me, she's not going to be okay.
725
00:33:40.128 --> 00:33:43.390
Or I need to go out and I'm even more conservative because I have her.
726
00:33:43.690 --> 00:33:45.311
It's actually been very different for me.
727
00:33:45.371 --> 00:33:45.911
That's great.
728
00:33:46.471 --> 00:33:48.112
It's just, yeah, it's very interesting.
729
00:33:48.848 --> 00:33:51.610
I'll say the one last thing, man, something I really believe in.
730
00:33:51.930 --> 00:33:57.575
And I think this would resonate with you is you got to figure out what you're trying to optimize for.
731
00:33:57.735 --> 00:34:00.917
And so one thing you're optimizing for in life is money.
732
00:34:00.957 --> 00:34:03.399
But I know with you, it's not the only thing you're optimizing for.
733
00:34:03.959 --> 00:34:08.382
And so when it comes to the money thing, I do think you should figure out what the number is.
734
00:34:08.823 --> 00:34:13.486
And I think you figure out what the number is based on imagining what the ideal life looks like.
735
00:34:14.006 --> 00:34:15.447
Whatever that dollar amount is.
736
00:34:16.208 --> 00:34:18.790
That's, and it's just the dollar amount to live.
737
00:34:19.110 --> 00:34:21.732
And, but like live a really epic life.
738
00:34:21.772 --> 00:34:26.975
Whatever the epic life you want is that you think you would probably still want 30 years from now, what's that number?
739
00:34:27.536 --> 00:34:30.318
You build to that number to be able to generate that.
740
00:34:30.378 --> 00:34:31.739
And then everything after that,
741
00:34:32.599 --> 00:34:33.620
is just gravy.
742
00:34:33.720 --> 00:34:36.942
You could just give every other doll you ever make after that number away.
743
00:34:37.503 --> 00:34:41.086
You can let off the gas a little bit.
744
00:34:41.866 --> 00:34:43.527
I think that is the angle.
745
00:34:43.547 --> 00:34:46.229
The problem is I know almost nobody that actually lifts that.
746
00:34:46.610 --> 00:34:48.751
Everybody just goes and goes and goes forever.
747
00:34:49.392 --> 00:34:50.453
There's an element of why.
748
00:34:50.753 --> 00:34:52.454
I think about this a lot with myself.
749
00:34:52.514 --> 00:34:52.814
Why?
750
00:34:53.795 --> 00:34:56.037
Because then you're going to wake up when you're...
751
00:34:56.817 --> 00:34:59.519
I had less hobbies when I was your age
752
00:35:00.340 --> 00:35:01.761
Because all I cared about was work.
753
00:35:02.261 --> 00:35:03.061
I had one goal.
754
00:35:03.121 --> 00:35:04.322
I wanted to be successful.
755
00:35:04.702 --> 00:35:05.883
I liked what I was doing.
756
00:35:06.423 --> 00:35:07.464
I wanted to make it work.
757
00:35:08.104 --> 00:35:09.104
And I wanted to make money.
758
00:35:09.685 --> 00:35:14.027
And then, but I loved other stuff, but I didn't do any of the other stuff.
759
00:35:14.547 --> 00:35:15.768
Because I had kids.
760
00:35:15.848 --> 00:35:17.749
It was either like, I'm either working or I'm with my family.
761
00:35:17.809 --> 00:35:20.190
There's no time for much of anything else.
762
00:35:20.210 --> 00:35:20.830
Yeah.
763
00:35:20.890 --> 00:35:33.615
But as I got a little older and the money thing was less of an issue and I had a team around me, I started introducing more stuff into my life like racing cars or traveling.
764
00:35:34.436 --> 00:35:40.838
And the idea that if I hadn't done that and I'm at where I'm at today and I hadn't done any of those things, I'd have a much lesser life.
765
00:35:41.499 --> 00:35:46.241
So I do think there's this element where you figure out your number so you can bring all that other cool stuff into your life.
766
00:35:46.941 --> 00:35:51.926
And, and, and part of that is like, I know, I think I kind of know how you're wired.
767
00:35:52.187 --> 00:35:54.730
You want to help other people and you're doing it with what you do.
768
00:35:54.870 --> 00:35:59.014
Your platform does that, but also there's other ways I suspect you want to help people in the future.
769
00:35:59.635 --> 00:36:03.939
And once you have that number, you also give your permission, yourself permission to be way more free in that area.
770
00:36:04.640 --> 00:36:05.860
Versus just build, build, build.
771
00:36:05.880 --> 00:36:08.581
I don't know if that means anything to you.
772
00:36:08.721 --> 00:36:13.062
I'll listen back to this part of the podcast myself, since I've got my therapy session for the day.
773
00:36:14.222 --> 00:36:14.442
Cool.
774
00:36:14.522 --> 00:36:14.982
All right.
775
00:36:15.002 --> 00:36:15.382
Your turn.
776
00:36:15.882 --> 00:36:16.883
All right.
777
00:36:17.043 --> 00:36:27.325
So what's the thing you're most proud of that Augusta is doing that you would suspect CityTurf does not do and we should implement?
778
00:36:28.466 --> 00:36:29.386
Yeah.
779
00:36:29.486 --> 00:36:31.108
And you only know so much about CityTurf.
780
00:36:31.148 --> 00:36:33.049
I only know so much about Augusta.
781
00:36:33.189 --> 00:36:37.092
I think you're pretty fond of your online pricing and selling.
782
00:36:37.172 --> 00:36:39.494
I think you would say that's a really important thing that you've done.
783
00:36:39.874 --> 00:36:41.095
So you can't use that one.
784
00:36:41.556 --> 00:36:42.817
You've already got me thinking about that.
785
00:36:42.937 --> 00:36:45.138
I've thought about it for years, but you've resurrected it for me.
786
00:36:46.499 --> 00:36:51.663
Does anything else come to mind that you think you guys are doing that CityTurf's not that I need to be thinking about?
787
00:36:51.923 --> 00:36:53.304
Well, I don't think you need to do anything.
788
00:36:53.485 --> 00:36:54.846
I think you're doing just fine.
789
00:36:54.866 --> 00:36:55.426
I don't.
790
00:36:56.987 --> 00:37:02.655
I really, really like working on CityTurf again and getting back into the marketing world.
791
00:37:02.756 --> 00:37:03.377
I really like it.
792
00:37:03.892 --> 00:37:06.933
Yeah, I think, okay, again, I don't think you should do anything.
793
00:37:07.233 --> 00:37:13.356
I think the thing that I have seen really good outsider turns from us that I haven't seen you lean into as much is probably Facebook ads.
794
00:37:14.356 --> 00:37:14.816
We do not.
795
00:37:14.956 --> 00:37:15.237
We do.
796
00:37:15.817 --> 00:37:16.277
Zero.
797
00:37:16.557 --> 00:37:20.179
The reason I think that it'd be a huge opportunity is because you know copy so well.
798
00:37:20.639 --> 00:37:21.019
Okay.
799
00:37:21.039 --> 00:37:23.600
And you're so good at identifying the pain of the customer.
800
00:37:24.500 --> 00:37:26.221
And I think that's actually where it shines.
801
00:37:26.681 --> 00:37:30.463
And I think you have been super successful in the print side in the past.
802
00:37:31.323 --> 00:37:56.752
because uh you know how to speak to the pain of the customer and that facebook is a just a it's a postcard and um i think if you were if you took that same energy towards you put towards postcards and the copy there and put towards like short form video and facebook i think you'd crush and i think it would serve you even more so because it it has so much better data and that's the part where i
803
00:37:57.972 --> 00:38:05.660
And then you could take that and scale it just the way you like it versus so many elements of print just have limitations on.
804
00:38:06.020 --> 00:38:06.981
So, hmm.
805
00:38:07.322 --> 00:38:12.026
OK, so I am heading that direction, but I got to say it's pretty far down my list of things to do.
806
00:38:12.086 --> 00:38:12.787
That's interesting.
807
00:38:13.167 --> 00:38:14.208
I'm not saying it should be the top.
808
00:38:14.369 --> 00:38:15.089
I'm just saying.
809
00:38:15.330 --> 00:38:16.371
Yeah, yeah.
810
00:38:16.391 --> 00:38:20.595
No, but you think that we could make the economics on it work quite well is what you're saying.
811
00:38:20.983 --> 00:38:23.325
Oh, yeah, I just pulled the data because I was interested.
812
00:38:23.365 --> 00:38:27.667
I pulled a couple of locations close to you, and we're getting leads for like $10.
813
00:38:28.068 --> 00:38:28.688
On Facebook?
814
00:38:29.048 --> 00:38:29.308
Yeah.
815
00:38:29.568 --> 00:38:29.769
Okay.
816
00:38:29.809 --> 00:38:30.029
Yeah.
817
00:38:30.469 --> 00:38:32.390
So, you know, I'm not saying you should do anything.
818
00:38:32.470 --> 00:38:37.894
I'm just thinking you're very good at identifying pain and then turning that pain into words.
819
00:38:38.734 --> 00:38:40.015
I get excited about it.
820
00:38:40.315 --> 00:38:44.238
I will tell you it's a project that I'm excited about and I've hired a video photography guy.
821
00:38:44.658 --> 00:38:47.700
And so I've got like a guy that can help me with this.
822
00:38:48.100 --> 00:38:54.024
But I've identified it possibly incorrectly after talking to you as lower on the list.
823
00:38:54.064 --> 00:38:57.366
First, I need to get all these other key things really running smoothly.
824
00:38:57.446 --> 00:38:58.226
So that's great.
825
00:38:58.266 --> 00:38:58.807
Thank you for that.
826
00:38:59.707 --> 00:39:03.610
The caveat to that would be like, go get someone lethal at Facebook ads.
827
00:39:03.950 --> 00:39:04.531
There's a difference.
828
00:39:04.651 --> 00:39:05.871
There's so many tiers in this.
829
00:39:06.452 --> 00:39:08.333
And just get someone incredible.
830
00:39:08.533 --> 00:39:12.456
Because if you get just someone to just run ads for you, it's useless.
831
00:39:12.496 --> 00:39:14.357
You will 5X your lead cost.
832
00:39:14.697 --> 00:39:21.562
And so I saw the difference this year getting Matt, who's the head of Augusta Leads, who knows what he's doing and spends a lot of time.
833
00:39:21.602 --> 00:39:22.202
That's all they do.
834
00:39:22.502 --> 00:39:23.883
So you hired him full time.
835
00:39:24.444 --> 00:39:25.164
For Augusta Leads.
836
00:39:25.504 --> 00:39:25.705
Yeah.
837
00:39:26.664 --> 00:39:29.485
Would you have a concern about me hiring a contractor to do that?
838
00:39:30.086 --> 00:39:30.226
No.
839
00:39:30.706 --> 00:39:41.131
No, I would just go on, like pay 500 bucks an hour, get the best of the best, have them set it up to 20 hours or less, and then maybe three to four hours a week of optimization.
840
00:39:42.611 --> 00:39:45.393
Little things, for example, like it's more of a Google thing, but...
841
00:39:46.133 --> 00:39:48.455
not showing our ads on the display network.
842
00:39:48.975 --> 00:39:53.698
We have like 9,000 websites that we've aggregated that we just know doesn't perform as well.
843
00:39:53.718 --> 00:39:54.559
You're taking them out, yeah.
844
00:39:54.819 --> 00:39:56.860
So most people are like, oh, the ads display network stinks.
845
00:39:56.880 --> 00:40:00.322
It's like, well, actually, if you narrow it down, you can crush.
846
00:40:00.582 --> 00:40:01.403
Yeah, the exclusions.
847
00:40:01.783 --> 00:40:04.765
So it's all about like just getting an absolute savage.
848
00:40:05.186 --> 00:40:08.088
I think the creative part is that you're so good at it.
849
00:40:08.768 --> 00:40:13.172
And if you get an average person to be a media buyer for you, it won't perform well.
850
00:40:13.192 --> 00:40:16.074
But if you get a great media buyer, I think you'll crush.
851
00:40:16.995 --> 00:40:17.275
Okay.
852
00:40:17.975 --> 00:40:18.536
Thank you for that.
853
00:40:19.336 --> 00:40:20.998
That's the stuff I get excited about.
854
00:40:21.912 --> 00:40:23.975
Like where I get will be engaged.
855
00:40:23.995 --> 00:40:24.716
So interesting.
856
00:40:24.796 --> 00:40:33.446
And the part that is so fun with Facebook ads compared to print is the delay between execution versus data collection.
857
00:40:33.706 --> 00:40:33.907
Yeah.
858
00:40:34.287 --> 00:40:37.170
Because you can change one thing in the ad and see the bump.
859
00:40:37.671 --> 00:40:40.755
Versus print, it's like, okay, well, like, they might call me a week later.
860
00:40:40.775 --> 00:40:43.679
I can't, like, change the offer out quickly.
861
00:40:43.779 --> 00:40:44.981
It's so much slower.
862
00:40:45.461 --> 00:40:50.468
Versus, like, we could iterate really fast in even just three weeks on a Facebook ad and get it towards crushing.
863
00:40:50.488 --> 00:40:53.372
It's like right now, I can say this now because it's almost July 4th.
864
00:40:53.652 --> 00:40:59.375
Like right now, if you throw a July 4th something inside the ad and reference July 4th, you'll just crush.
865
00:40:59.435 --> 00:41:04.237
Like all of our Facebook ads right now are showing like get your property ready for July 4th.
866
00:41:04.317 --> 00:41:04.857
It's coming up.
867
00:41:04.877 --> 00:41:07.818
It's the best holiday of the season for your outdoor living area.
868
00:41:08.038 --> 00:41:12.380
Like little stuff like that on the creative side, I think you'll just dominate.
869
00:41:13.541 --> 00:41:13.881
All right.
870
00:41:14.321 --> 00:41:14.661
Very good.
871
00:41:14.701 --> 00:41:14.962
Thank you.
872
00:41:16.629 --> 00:41:16.929
All right.
873
00:41:17.369 --> 00:41:17.849
Next one.
874
00:41:18.189 --> 00:41:19.990
So based on what you know about me.
875
00:41:20.010 --> 00:41:21.650
Okay.
876
00:41:21.790 --> 00:41:25.171
And maybe what, you know, it's like, I think you know a decent amount about me.
877
00:41:25.511 --> 00:41:29.392
This is like the son having to tell the dad how to like run the personal finances of the family.
878
00:41:29.492 --> 00:41:30.572
Like what in the world?
879
00:41:31.613 --> 00:41:33.113
Hey, man, I bet you've got.
880
00:41:33.133 --> 00:41:34.693
Riley, what do you think about your dad?
881
00:41:34.713 --> 00:41:36.114
You think he's doing a better job?
882
00:41:36.194 --> 00:41:36.694
I would ask.
883
00:41:36.914 --> 00:41:38.434
Riley's really well put together.
884
00:41:38.494 --> 00:41:38.814
I ask.
885
00:41:39.194 --> 00:41:40.835
I have conversations with Riley.
886
00:41:40.875 --> 00:41:42.235
Like I value his opinion.
887
00:41:42.535 --> 00:41:43.015
You've done it.
888
00:41:43.035 --> 00:41:43.555
You're 30.
889
00:41:43.575 --> 00:41:44.556
You've done a ton of stuff.
890
00:41:44.596 --> 00:41:45.316
So are you 30 or 31?
891
00:41:45.336 --> 00:41:45.396
30.
892
00:41:46.776 --> 00:41:46.976
Okay.
893
00:41:47.477 --> 00:41:48.617
All right.
894
00:41:48.637 --> 00:41:50.718
So based on, but we are in the same world.
895
00:41:51.159 --> 00:41:52.780
So I just curious what you're going to say to this.
896
00:41:52.800 --> 00:42:02.025
So based on what you know about me and kind of how I think and my expertise and what you see me do, what would you tell me that you think I should be doing from a work standpoint right now?
897
00:42:02.265 --> 00:42:08.710
My first thought went towards media because it has been 10 years I've been making content.
898
00:42:08.750 --> 00:42:10.011
I feel like I'm on this grind.
899
00:42:10.292 --> 00:42:14.595
You have the stories and you have an incredible resume.
900
00:42:14.915 --> 00:42:20.300
And I would not say to necessarily give your number or be more open about that.
901
00:42:20.320 --> 00:42:27.406
But I do think the type of media and the format that you deliver in, if done correctly, could just crush.
902
00:42:27.666 --> 00:42:27.866
And...
903
00:42:29.207 --> 00:42:31.627
You also have a Rolodex that is like really, really solid.
904
00:42:31.687 --> 00:42:34.728
You know so many people with incredible businesses.
905
00:42:35.228 --> 00:42:42.209
And I think your comfortable format is interviewing and podcasting and long format.
906
00:42:43.030 --> 00:42:48.231
And I'd be really interested to see you getting really good at packaging and then shortening.
907
00:42:48.771 --> 00:42:55.952
Not like how long, not necessarily shortening the conversation, but like how do you make a 10-minute video with a friend of yours instead of a three-hour video?
908
00:42:56.252 --> 00:42:56.492
Yeah.
909
00:42:56.792 --> 00:42:57.212
Okay.
910
00:42:57.253 --> 00:43:00.814
That 10 minute video is only like no one else has access to them.
911
00:43:01.474 --> 00:43:02.815
They're not a credible entrepreneur.
912
00:43:03.075 --> 00:43:08.418
You have that pool of people and I would love to see them highlighted for my own selfish sake.
913
00:43:08.898 --> 00:43:17.182
And then being done in a format though, from a media perspective, that's more digestible versus like, I will watch your three hour podcast.
914
00:43:17.542 --> 00:43:18.703
But other people won't.
915
00:43:19.243 --> 00:43:21.465
And so I would love to see everything that you've done.
916
00:43:21.485 --> 00:43:24.828
I like to put a microphone and megaphone to it.
917
00:43:25.048 --> 00:43:26.890
It's like partly why we started this show.
918
00:43:27.370 --> 00:43:34.516
Partly one of my reasons for doing it was to be able to pass those things on to the next generation of entrepreneurs and specifically in home services.
919
00:43:35.136 --> 00:43:38.879
So I would love to see like the media side just blow up for you.
920
00:43:39.520 --> 00:43:43.963
And I don't know exactly what that recipe looks like because I'm still trying to figure that out.
921
00:43:44.464 --> 00:43:44.824
But...
922
00:43:45.945 --> 00:43:48.387
I think you are already knocking on this door.
923
00:43:48.727 --> 00:43:50.008
So you'll get there.
924
00:43:50.168 --> 00:43:51.830
I don't have these answers either, but I am.
925
00:43:52.130 --> 00:43:52.810
Yeah, I'm curious.
926
00:43:52.830 --> 00:43:53.071
Okay.
927
00:43:53.311 --> 00:43:53.531
All right.
928
00:43:53.551 --> 00:43:53.751
Thank you.
929
00:43:53.771 --> 00:43:54.111
It's so hard.
930
00:43:54.392 --> 00:43:57.654
It's so funny when people are like, oh, they just make content and they do.
931
00:43:57.694 --> 00:43:59.756
It's like, you know how hard it is to do this?
932
00:44:00.216 --> 00:44:00.516
It is.
933
00:44:01.077 --> 00:44:01.577
It is hard.
934
00:44:02.458 --> 00:44:03.238
Oh, man.
935
00:44:03.319 --> 00:44:04.880
And it's hard to get the feedback.
936
00:44:06.441 --> 00:44:07.742
It's such a broad audience.
937
00:44:07.822 --> 00:44:08.803
What do you care about?
938
00:44:08.823 --> 00:44:09.243
What do you like?
939
00:44:09.283 --> 00:44:10.004
What do you value?
940
00:44:10.444 --> 00:44:15.068
Because you could have a video that people actually care about, but the packaging wasn't that good.
941
00:44:15.628 --> 00:44:16.348
And so nobody saw it.
942
00:44:17.048 --> 00:44:18.329
It's really complicated.
943
00:44:18.709 --> 00:44:22.330
And then it's like, you got to balance what you want to make, because I'm interested in certain things.
944
00:44:22.630 --> 00:44:25.831
But then like, so recently, I was like, okay, I put a poll up.
945
00:44:25.851 --> 00:44:26.851
I'm like, guys, do you want to hear?
946
00:44:26.871 --> 00:44:28.412
I like three different types of content.
947
00:44:28.512 --> 00:44:32.973
It was like, more turnarounds, studio videos, kind of listicles, etc.
948
00:44:33.013 --> 00:44:36.214
Or do you want to hear more about my businesses, like how I run my business?
949
00:44:36.314 --> 00:44:41.236
And it was like 50% plus of the three options was, we want to hear more about how you operate.
950
00:44:41.849 --> 00:44:42.389
Oh, really?
951
00:44:42.489 --> 00:44:42.750
Okay.
952
00:44:42.770 --> 00:44:43.570
Yeah.
953
00:44:43.650 --> 00:44:43.830
Yeah.
954
00:44:43.951 --> 00:44:45.351
I made like five or six of those videos.
955
00:44:45.652 --> 00:44:50.855
We're talking about like five to 10% of the views compared to a regular video on my channel.
956
00:44:51.156 --> 00:44:51.456
Oh, okay.
957
00:44:51.476 --> 00:44:56.039
And so it's tough though, because now you have people like we have a whole team.
958
00:44:56.339 --> 00:44:57.760
I got to make sure the team gets fed.
959
00:44:58.120 --> 00:44:59.141
They have salaries.
960
00:44:59.421 --> 00:45:01.823
I can't just be like, I'm doing this because I'm interested in it.
961
00:45:02.083 --> 00:45:03.244
It needs to be packaged well.
962
00:45:03.564 --> 00:45:04.725
It needs to have a good thumbnail.
963
00:45:04.745 --> 00:45:05.686
It needs to have a good hook.
964
00:45:06.206 --> 00:45:17.034
And so what's also interesting, the thing that's helped me, though, is tracking link clicks and realizing that a video that might get 300,000 views might drive, let's just call it 200 leads.
965
00:45:17.374 --> 00:45:22.799
A another view of it video, though, that is really, really focused on my ICP, like who I'm going after.
966
00:45:23.119 --> 00:45:24.700
People are really interested in my core audience.
967
00:45:25.280 --> 00:45:29.464
It might do 4000 views and drive 100 clicks or 100 leads.
968
00:45:30.324 --> 00:45:38.168
Um, so we've been recently tracking the click on every single video for every single platform for every single business.
969
00:45:38.848 --> 00:45:46.531
And that has helped me realize that the vanity metrics of views aren't all that they're made out to be in terms of driving business results.
970
00:45:47.091 --> 00:45:50.633
And when you say clicks, are you talking like end card or are you talking in the description?
971
00:45:51.431 --> 00:45:52.291
Mostly the description.
972
00:45:52.431 --> 00:45:54.352
You can track, and cards are easy.
973
00:45:55.132 --> 00:45:57.633
QR codes, we have QR codes, we track those.
974
00:45:58.513 --> 00:46:01.534
But now in the description, we have individual links for every video.
975
00:46:01.554 --> 00:46:09.797
It takes a little bit longer, but then you have really good granular detail, like what videos drive business results versus which ones just get a bunch of views.
976
00:46:10.057 --> 00:46:10.477
I see.
977
00:46:10.817 --> 00:46:11.537
And it is interesting.
978
00:46:12.038 --> 00:46:15.819
Nonetheless, for anyone that says making content is easy, it is hard.
979
00:46:15.839 --> 00:46:15.939
Yeah.
980
00:46:16.820 --> 00:46:17.100
It is.
981
00:46:17.542 --> 00:46:21.752
Even when you have a $40,000 dog that you bring on for a great hook.
982
00:46:21.973 --> 00:46:22.976
A great hook.
983
00:46:23.156 --> 00:46:24.720
And still you can't get views.
984
00:46:25.282 --> 00:46:26.002
This is Oliver.
985
00:46:26.482 --> 00:46:27.323
We call him Ollie.
986
00:46:27.683 --> 00:46:29.303
He's a 10-year-old French bulldog.
987
00:46:29.824 --> 00:46:36.786
And I've got at least $40,000 invested in this guy, $3,000 to buy him, and the rest, keeping him here.
988
00:46:37.026 --> 00:46:38.806
That video did not do good.
989
00:46:38.986 --> 00:46:39.447
I know.
990
00:46:39.547 --> 00:46:41.407
I was like, come on, folks.
991
00:46:41.427 --> 00:46:42.428
What are we going to do?
992
00:46:43.308 --> 00:46:43.748
Oh, man.
993
00:46:44.188 --> 00:46:44.448
All right.
994
00:46:44.568 --> 00:46:45.008
All right.
995
00:46:45.028 --> 00:46:46.829
I'm just going to lead you to the next question here.
996
00:46:47.829 --> 00:46:49.150
I have heard you mention this before.
997
00:46:50.030 --> 00:46:55.357
I have purposely not done research on this because I wanted to come to much more of a student's perspective.
998
00:46:55.797 --> 00:46:58.240
Tiger 21, you've been doing it for six years.
999
00:46:58.260 --> 00:46:59.121
Oh, yeah.
1000
00:46:59.161 --> 00:47:05.670
Let me first explain what it is and what you've learned being inside that group for the past six years.
1001
00:47:05.690 --> 00:47:05.970
Yeah.
1002
00:47:06.336 --> 00:47:14.684
So Tiger 21 is a group I had heard about and I joined after I sold Service Autopilot, but I'd heard about it previously.
1003
00:47:15.085 --> 00:47:22.252
And then when I was going through the transaction to sell Service Autopilot, I talked to a couple references of investment banks.
1004
00:47:23.172 --> 00:47:27.116
And so they're individuals that sold their companies and Tiger 21 came up several times.
1005
00:47:28.878 --> 00:47:31.840
They're like, man, I got Tiger 21 after I sold my company.
1006
00:47:31.861 --> 00:47:32.701
It was fantastic.
1007
00:47:32.761 --> 00:47:33.122
Love it.
1008
00:47:33.562 --> 00:47:39.086
So I'd heard of this thing as a financial group, and then I got it reinforced by these referrals.
1009
00:47:39.567 --> 00:47:48.034
And so Tiger 21 is basically this referral group, not referral, financial group that it's focused on finance.
1010
00:47:48.334 --> 00:47:49.875
And there are chapters all over the world.
1011
00:47:50.416 --> 00:47:51.757
I think they're like, I don't know.
1012
00:47:52.077 --> 00:47:54.297
1,700, 1,900 people in it.
1013
00:47:54.597 --> 00:47:56.318
I don't know the exact number around the world.
1014
00:47:56.338 --> 00:47:58.118
I think when I got in, there was under 1,000.
1015
00:47:59.258 --> 00:47:59.758
I don't know.
1016
00:48:00.039 --> 00:48:01.339
Some would call this the Illuminati.
1017
00:48:02.319 --> 00:48:03.519
Yes, it's the Illuminati.
1018
00:48:03.899 --> 00:48:04.159
Yes.
1019
00:48:05.700 --> 00:48:07.860
It is a very, very successful group.
1020
00:48:09.260 --> 00:48:09.560
It is.
1021
00:48:09.980 --> 00:48:11.661
It is legitimately very successful.
1022
00:48:12.301 --> 00:48:18.122
It's very, like you're not allowed to talk about the meetings at all because very private information is discussed.
1023
00:48:18.582 --> 00:48:18.802
Oh, well.
1024
00:48:19.042 --> 00:48:21.844
And so I have to, I feel like I have to be very careful what I say.
1025
00:48:21.864 --> 00:48:26.966
Let's see, maybe a couple ways to describe it would be there would be a monthly meeting.
1026
00:48:27.466 --> 00:48:28.907
And so there's local chapters.
1027
00:48:28.947 --> 00:48:31.989
So I'm in one of what I got in, there were two chapters.
1028
00:48:32.029 --> 00:48:33.810
Now I think there are six chapters in Dallas.
1029
00:48:34.250 --> 00:48:39.472
And so each chapter has about 16 people in the chapter.
1030
00:48:39.933 --> 00:48:48.317
And so like, for example, in the Dallas chapter, I know a bunch of people across different chapters because you go like tomorrow, I'll be at my Tiger 21 meeting all day long.
1031
00:48:48.797 --> 00:48:52.982
And so, you know, there'll be, call it 16 people in the room.
1032
00:48:53.102 --> 00:48:56.285
And periodically we get together with the other chapters and do stuff.
1033
00:48:56.325 --> 00:49:02.412
And so the general format of it is at the beginning of the meeting, we do a world update.
1034
00:49:02.672 --> 00:49:06.015
So what's going on in the world financially, that kind of stuff.
1035
00:49:06.436 --> 00:49:08.638
What are numbers, metrics, things like that.
1036
00:49:09.559 --> 00:49:12.042
Then we do an issues and opportunities.
1037
00:49:12.203 --> 00:49:17.670
So everybody has an, goes around and they're like, what's something personal to share?
1038
00:49:17.690 --> 00:49:20.934
Um, what's an investment you've recently made?
1039
00:49:21.775 --> 00:49:25.740
What is something you need help from, from your board of directors in this room?
1040
00:49:26.401 --> 00:49:26.701
And, um,
1041
00:49:27.482 --> 00:49:29.243
Then usually there's a fourth question.
1042
00:49:29.744 --> 00:49:30.985
This is how our chapter runs.
1043
00:49:31.085 --> 00:49:34.107
Different chapters run differently around the country or world.
1044
00:49:34.928 --> 00:49:39.932
And then the fourth question might be some question like, what do you think is going to happen with interest rates?
1045
00:49:40.272 --> 00:49:42.234
That might be a, you know, that's been a question.
1046
00:49:42.274 --> 00:49:45.716
It'll be, what do you think is going to happen with, you know, some investment?
1047
00:49:45.736 --> 00:49:48.218
I'll bet we talk about SpaceX as an example tomorrow.
1048
00:49:48.418 --> 00:49:48.939
I'll bet we do.
1049
00:49:49.619 --> 00:49:54.642
And so it'll be that's so then then we usually have lunch and we talk about all that.
1050
00:49:54.722 --> 00:50:02.545
Everybody takes a turn, talks about all that stuff and whatever you want to discuss kind of goes into goes on a list.
1051
00:50:02.565 --> 00:50:06.367
And then we we literally go around and we just everybody gives you feedback on that thing.
1052
00:50:06.748 --> 00:50:11.330
And then somebody does what's called a PD, which is called a portfolio defense.
1053
00:50:11.350 --> 00:50:11.550
Yeah.
1054
00:50:11.890 --> 00:50:18.892
You literally get up in front of the room and you lay out every single financial asset you have, where it's invested, how much money you've got.
1055
00:50:19.412 --> 00:50:27.835
You lay out your entire tax structure, how much money you spend a year, how you manage taxes, how you manage trust, everything.
1056
00:50:28.195 --> 00:50:31.076
So the idea is that you expose everything.
1057
00:50:31.116 --> 00:50:32.356
It's completely confidential.
1058
00:50:32.717 --> 00:50:33.797
And then people challenge you.
1059
00:50:34.422 --> 00:50:35.623
Like, wait, what about this?
1060
00:50:35.663 --> 00:50:36.563
Should you be doing that?
1061
00:50:37.004 --> 00:50:37.844
It's that kind of a thing.
1062
00:50:38.504 --> 00:50:43.507
And then sometimes our group will go to dinner or there will be a cocktail hour after or something like that.
1063
00:50:43.527 --> 00:50:46.149
It's usually like the meetings about six, seven hours.
1064
00:50:46.369 --> 00:50:47.550
So that's the structure of it.
1065
00:50:48.590 --> 00:50:49.691
Been in it a bunch of years.
1066
00:50:50.211 --> 00:50:53.293
I really like the people in the Dallas market.
1067
00:50:53.313 --> 00:50:55.774
A lot of very, very, very wealthy people.
1068
00:50:57.135 --> 00:51:01.458
I think most of them are pretty down to earth compared to what people would imagine.
1069
00:51:02.038 --> 00:51:04.780
Is it application based or is it like you have to have a certain net worth?
1070
00:51:04.800 --> 00:51:07.861
Like how do you get into that liquid liquid net worth above 20 million?
1071
00:51:08.122 --> 00:51:09.262
So can't count your business.
1072
00:51:09.322 --> 00:51:11.884
Can't count your real estate unless you're in the real estate business.
1073
00:51:12.204 --> 00:51:13.485
I think, I think that's how it works.
1074
00:51:14.505 --> 00:51:14.845
I don't know.
1075
00:51:15.065 --> 00:51:18.287
I, I, I, what I just know, I just know that one stat.
1076
00:51:18.367 --> 00:51:21.369
So, um, is it like a paid thing kind of like Hampton?
1077
00:51:21.589 --> 00:51:21.909
Yeah.
1078
00:51:22.370 --> 00:51:22.570
Yeah.
1079
00:51:22.590 --> 00:51:23.090
It's paid.
1080
00:51:23.110 --> 00:51:23.850
It's 33,000 a year.
1081
00:51:23.910 --> 00:51:24.251
And, um, yeah.
1082
00:51:26.872 --> 00:51:33.614
I mean, I think Hampton was largely inspired by Tiger and then changed.
1083
00:51:33.914 --> 00:51:34.814
And there's several others.
1084
00:51:34.834 --> 00:51:38.455
There's another – it's an application and a lot of people don't get in.
1085
00:51:38.855 --> 00:51:41.515
Like they really are hardcore about who gets in.
1086
00:51:42.475 --> 00:51:45.136
And there's other groups like this.
1087
00:51:45.196 --> 00:51:46.056
There's a few others.
1088
00:51:46.116 --> 00:51:50.857
And there's one that I think you have to have above 100 million network to get into it.
1089
00:51:50.897 --> 00:51:52.138
So there's a couple things like this.
1090
00:51:52.478 --> 00:51:52.998
I'm perfectly –
1091
00:51:54.333 --> 00:51:56.594
If I were to leave the group, I wouldn't join a different one.
1092
00:51:56.694 --> 00:51:57.455
I'm happy here.
1093
00:51:57.935 --> 00:52:00.496
If I were to leave the group, I'd be joining a normal business group.
1094
00:52:00.956 --> 00:52:04.198
And what have your biggest takeaways been now that you've been there for six years?
1095
00:52:04.678 --> 00:52:08.420
Obviously, a lot of really cool people, wealthy people.
1096
00:52:08.560 --> 00:52:09.740
What are some of your biggest takeaways?
1097
00:52:10.041 --> 00:52:11.541
Everybody's an expert.
1098
00:52:11.621 --> 00:52:12.342
They've got a thing.
1099
00:52:13.202 --> 00:52:18.445
So I think maybe one of the biggest ideas that I might have had is I was going to...
1100
00:52:18.825 --> 00:52:21.066
It's the same thing that happened to me when I sold Service Autopilot.
1101
00:52:21.186 --> 00:52:22.827
So I sell the Service Autopilot business.
1102
00:52:23.765 --> 00:52:24.846
We have a leadership team.
1103
00:52:25.226 --> 00:52:31.131
We do all kinds of planning and like, we'll just call it meetings, like where you're trying to figure stuff out.
1104
00:52:31.411 --> 00:52:36.195
So you go sit in a board meeting after I sell the business at the explore level.
1105
00:52:36.716 --> 00:52:39.558
And, you know, I just thought it was going to go into a world where it's like,
1106
00:52:39.698 --> 00:52:45.282
wow, when you're dealing in hundreds and hundreds of millions of annual revenue, that I was going to have all these wow moments.
1107
00:52:45.343 --> 00:52:49.926
And it's like, you know, learned a few things, but it's largely the exact same thing, just executed with bigger numbers.
1108
00:52:50.286 --> 00:52:52.808
That was my, like, so I was a little disappointed.
1109
00:52:52.828 --> 00:52:58.133
And I really smart people, like legitimately smart people, but we weren't stupid people either.
1110
00:52:58.173 --> 00:52:59.834
Like we were operating at a decent level.
1111
00:52:59.854 --> 00:53:02.917
It's like, I definitely learned things, but it's like, I just thought there was going to be this
1112
00:53:03.657 --> 00:53:06.038
oh my gosh, I never thought of that kind of moment.
1113
00:53:06.139 --> 00:53:10.321
It's more like just do the basics, do the blocking and tackling and execute on it really well.
1114
00:53:11.041 --> 00:53:21.307
Well, kind of coming into Tiger, I had this idea that you're coming into a world of people that probably have a tremendous amount of knowledge at a financial level.
1115
00:53:21.668 --> 00:53:27.071
And the people that do are the people that do financial, like do investing as a career.
1116
00:53:27.311 --> 00:53:30.133
But then you've got people that are real estate people
1117
00:53:30.853 --> 00:53:33.756
And if you look at their portfolio, it's heavily weighted towards real estate.
1118
00:53:33.776 --> 00:53:35.978
And they've got other investments, but that's their lane.
1119
00:53:36.479 --> 00:53:38.901
Then you've got business guys like me that are operators.
1120
00:53:39.162 --> 00:53:40.123
That's their lane.
1121
00:53:40.183 --> 00:53:41.904
And they've got knowledge in other things.
1122
00:53:42.465 --> 00:53:46.629
And so I think one of the big things I learned was like, we're all just human at the end of the day.
1123
00:53:46.689 --> 00:53:48.832
We have expertise in an area.
1124
00:53:49.152 --> 00:53:49.632
And then we...
1125
00:53:50.253 --> 00:53:53.374
We have general expertise in lots of other areas.
1126
00:53:53.414 --> 00:53:56.396
And some of us are stronger in certain investing than others.
1127
00:53:56.456 --> 00:54:00.197
But just because you're really good at one modality does not mean you're a good investor.
1128
00:54:00.417 --> 00:54:03.799
And I'm not saying that people are, there's something wrong with the people in the group.
1129
00:54:03.819 --> 00:54:04.199
I don't mean that.
1130
00:54:04.219 --> 00:54:10.322
It's just like, you just really quickly realize we can all only really be incredibly good at a few things.
1131
00:54:11.022 --> 00:54:12.883
And so you might be a wonderful operator.
1132
00:54:13.423 --> 00:54:19.626
And then when you come into the investing environment, you might be good, but you're not exceptional as compared to other people in the group.
1133
00:54:20.206 --> 00:54:20.847
That's one thing.
1134
00:54:20.927 --> 00:54:23.529
The other thing is everybody's human.
1135
00:54:23.709 --> 00:54:25.770
Everybody worries about all the same stuff.
1136
00:54:26.230 --> 00:54:29.013
The biggest thing everybody worries about is their kids.
1137
00:54:30.614 --> 00:54:39.080
People aren't sitting around like, yeah, of course, you want to grow your wealth, but the conversations are about all the human stuff, your family, your kids, your kids.
1138
00:54:39.140 --> 00:54:40.021
It's all about the kids.
1139
00:54:40.201 --> 00:54:42.282
Like, how are they going to turn out in life with the money?
1140
00:54:42.883 --> 00:54:44.344
You know, how do you pass money to them?
1141
00:54:44.364 --> 00:54:45.665
What are they doing in their careers?
1142
00:54:45.705 --> 00:54:46.725
How are their marriages?
1143
00:54:47.046 --> 00:54:48.366
Like, it's all that kind of stuff.
1144
00:54:48.386 --> 00:54:55.752
It's like everybody's human and everybody worries about the stock market because the stock market moves every day and you can see it move.
1145
00:54:55.792 --> 00:55:01.576
But if you're in a private equity portfolio or in your venture or you're in real estate, you can't see the valuation moving.
1146
00:55:02.176 --> 00:55:08.620
So when you hear people's language, they're way more worried about stocks than they were private equity or real estate.
1147
00:55:09.000 --> 00:55:11.002
And that's just a very human thing.
1148
00:55:11.062 --> 00:55:16.225
And so to me, there's a lot of incredibly smart people that are making really smart decisions.
1149
00:55:16.345 --> 00:55:19.267
And we have great – it surfaces great conversations.
1150
00:55:19.287 --> 00:55:20.128
But in the day –
1151
00:55:20.888 --> 00:55:23.089
You know, it's every everybody's still trying to figure it out.
1152
00:55:23.529 --> 00:55:25.751
And everybody worries about the same stuff in life.
1153
00:55:25.771 --> 00:55:27.592
That would probably be one of my big takeaways.
1154
00:55:27.852 --> 00:55:33.915
Now, I can kind of talk about how people invest, but I think that emotional element is really important to understand.
1155
00:55:34.135 --> 00:55:40.339
Yeah, I think sometimes two people, when they join a community, they think it is going to be this like unlock or this massive aha moment.
1156
00:55:40.359 --> 00:55:41.960
And then they get in there, like almost disappointed.
1157
00:55:41.980 --> 00:55:42.080
Yeah.
1158
00:55:42.800 --> 00:55:45.502
Because they realize that other people are going to assist through the same problems.
1159
00:55:45.903 --> 00:55:50.066
They don't have this infinite level of knowledge that they thought they had from the outside looking in.
1160
00:55:50.587 --> 00:55:59.514
And so what's the value of still staying in a community like that, where it's not like this aha, you're not, you know, everyone's not leagues ahead of you.
1161
00:55:59.534 --> 00:56:02.857
You actually feel like you're probably contributing to other people in the group as well.
1162
00:56:03.257 --> 00:56:05.159
Why still stay in a group like that for six years?
1163
00:56:05.159 --> 00:56:15.362
I don't know if I'll stay in it forever, but because we travel a lot or we've dialed it back a little bit, well, a lot, I would be gone and miss meetings.
1164
00:56:15.422 --> 00:56:19.763
I was really trying to plan my travel as best I could to miss as few Tiger meetings as possible.
1165
00:56:20.144 --> 00:56:24.245
So I'd have this feeling because I'll be gone for a while and I'm driving to the meeting.
1166
00:56:24.305 --> 00:56:25.525
This has happened to me multiple times.
1167
00:56:25.545 --> 00:56:28.286
Like, I don't know if I, why am I still doing this?
1168
00:56:28.546 --> 00:56:31.467
You know, because I haven't really invested in many deals.
1169
00:56:31.487 --> 00:56:34.528
There's a ton of opportunity to invest in deals inside Tiger.
1170
00:56:35.308 --> 00:56:36.269
And that's another thing.
1171
00:56:36.289 --> 00:56:38.371
Somebody presents to us every month.
1172
00:56:38.911 --> 00:56:40.573
And so you get access to deals.
1173
00:56:41.554 --> 00:56:43.715
That's a really actually important thing I didn't say.
1174
00:56:44.396 --> 00:56:46.338
And a lot of people do invest in those deals.
1175
00:56:46.618 --> 00:56:47.238
I just don't.
1176
00:56:47.459 --> 00:56:51.602
I figured out what my investment philosophy is, and I'm just executing my playbook.
1177
00:56:51.882 --> 00:56:52.363
And I'm good.
1178
00:56:52.723 --> 00:56:55.065
So I don't get that benefit from the group.
1179
00:56:55.105 --> 00:56:56.766
And so sometimes going to the group, I'm like...
1180
00:56:57.487 --> 00:56:59.349
I don't know, this is taking up time on my calendar.
1181
00:56:59.389 --> 00:57:00.009
Should I do this?
1182
00:57:00.049 --> 00:57:03.832
And then every time I, after I leave the meeting, it's like, there's no way I'm leaving.
1183
00:57:04.373 --> 00:57:11.258
And so I think it's this element of, it's not that you need to get something out of it every single week or month, better said.
1184
00:57:11.399 --> 00:57:21.046
It's like when you need something or you have a question or you're just trying to think through something or you listen to other people thinking through their challenges, once you get to a high level of wealth,
1185
00:57:21.827 --> 00:57:26.788
and tax complication and trust complication, like one answer pays for a lot.
1186
00:57:27.148 --> 00:57:31.529
It doesn't take much to get all your money back.
1187
00:57:31.749 --> 00:57:34.050
And I really like the people a lot.
1188
00:57:34.110 --> 00:57:37.310
And so it's the way I think about it is literally that simple.
1189
00:57:37.430 --> 00:57:39.231
It keeps me way more informed.
1190
00:57:39.771 --> 00:57:44.452
It keeps me in front of a lot of people have very different perspectives on business and life and investing.
1191
00:57:44.472 --> 00:57:44.572
Yeah.
1192
00:57:45.172 --> 00:57:47.434
It gives me when I need something, I could call.
1193
00:57:47.495 --> 00:57:51.298
Like we had a fellow in our group that he was traveling somewhere and something happened.
1194
00:57:51.358 --> 00:57:56.884
And somebody in Tiger, not even in the Dallas chapter, set a private jet to pick him up and get him back to Dallas.
1195
00:57:57.445 --> 00:57:58.506
You hear those stories all the time.
1196
00:57:58.526 --> 00:58:01.549
It's a very tight-knit group of people that will do anything.
1197
00:58:02.029 --> 00:58:05.092
I feel like I could call anybody in Tiger and they'll take the call.
1198
00:58:05.993 --> 00:58:10.736
And there's just a lot of little things like that that are incredibly valuable.
1199
00:58:11.237 --> 00:58:21.283
So if someday, as an example, I had a medical emergency, there's an infinite number of people I could get on the phone that would get me in somewhere that I wouldn't be able to get in otherwise.
1200
00:58:21.863 --> 00:58:23.104
And that's just relationships.
1201
00:58:23.184 --> 00:58:24.625
It's back to that network concept.
1202
00:58:24.825 --> 00:58:35.052
And so those are the little reasons why it's like, okay, I can't point to, I just saved $33,000 this month, but I can over time say that I'm convinced I get, it's worth every dollar.
1203
00:58:35.376 --> 00:58:46.060
It's interesting, too, that you say that the things that they worry about or talk about the most are actually now nothing to do with the money or less to do with the money and more about the human aspects of life.
1204
00:58:46.360 --> 00:58:50.062
Yeah, I mean, the whole group's a financial group, but people are good.
1205
00:58:50.102 --> 00:58:52.643
Like, I just like people like the game.
1206
00:58:52.683 --> 00:58:53.483
They're playing their games.
1207
00:58:53.963 --> 00:58:56.305
They're playing the game because they like what they do.
1208
00:58:56.345 --> 00:58:57.646
And of course, they think about their money.
1209
00:58:57.666 --> 00:58:58.707
And of course, they want to grow it.
1210
00:58:58.727 --> 00:58:59.888
They want to see their number go up.
1211
00:58:59.928 --> 00:59:03.731
But my experience, and again, there's groups all over the world.
1212
00:59:03.791 --> 00:59:09.436
My experience in the Dallas group is like most people feel generally like I'm fine.
1213
00:59:09.737 --> 00:59:10.237
I'm good.
1214
00:59:10.798 --> 00:59:13.019
And they're worried about other stuff at this point.
1215
00:59:13.039 --> 00:59:14.841
And they're just playing the game because –
1216
00:59:16.022 --> 00:59:16.663
They like doing it.
1217
00:59:16.723 --> 00:59:20.887
And then another thing I observe is that people get caught.
1218
00:59:21.287 --> 00:59:23.849
Like all of us, you get caught in a trap where you just keep going.
1219
00:59:24.089 --> 00:59:25.591
This is what I've been doing for 25 years.
1220
00:59:25.611 --> 00:59:26.672
This is what I'm going to keep doing.
1221
00:59:27.112 --> 00:59:31.576
And so like I travel so much and people are like, man, I would like to do all that traveling.
1222
00:59:31.596 --> 00:59:31.977
And I'm like,
1223
00:59:35.938 --> 00:59:37.618
you could do, you never need to work again.
1224
00:59:37.658 --> 00:59:38.559
You could do all this traveling.
1225
00:59:38.579 --> 00:59:45.141
But so Pete, we all have this risk of getting stuck and not doing all these other things we'd like to do.
1226
00:59:45.681 --> 00:59:49.783
And that happens even at this level in a major way, because you have so many responsibilities.
1227
00:59:51.603 --> 00:59:53.844
I don't think I'm saying anything I shouldn't be saying publicly.
1228
00:59:55.545 --> 01:00:04.808
Another observation is smaller owners or people that own smaller businesses get trapped in their business and they don't know how to find the key people to run their companies.
1229
01:00:05.208 --> 01:00:07.329
That happens at a very, very high level.
1230
01:00:07.769 --> 01:00:10.830
Companies are doing massive amounts of money.
1231
01:00:11.550 --> 01:00:17.132
the same exact problem, like how do I find the person that can really free me up?
1232
01:00:17.172 --> 01:00:21.774
You're doing massive money, but you're the CEO and you're still literally stuck in the business.
1233
01:00:22.134 --> 01:00:26.395
That still happens at huge numbers, huge numbers.
1234
01:00:26.695 --> 01:00:29.817
And people are still worried about what will happen to their business if they hand it over.
1235
01:00:30.357 --> 01:00:31.077
That doesn't change.
1236
01:00:31.617 --> 01:00:32.558
There's lots of that stuff.
1237
01:00:33.578 --> 01:00:36.539
Something else I'd tell you is most people are investing in assets.
1238
01:00:36.979 --> 01:00:37.819
Like they own things.
1239
01:00:40.790 --> 01:00:51.475
they own deals, businesses, they're invested in private credit, they're invested in public equity, they're invested in venture, like their money is heavily locked up.
1240
01:00:52.596 --> 01:00:55.818
You know, people have liquidity, but a lot of money is not liquid.
1241
01:00:55.838 --> 01:00:56.298
Yeah.
1242
01:00:56.698 --> 01:00:58.461
And that's a really common thing you'll see.
1243
01:00:58.481 --> 01:01:06.653
So they're going to, people are going to be in, and if you were to just look up ultra high net worth individuals, you'll find that this is a pretty common story.
1244
01:01:06.733 --> 01:01:08.035
It's not just a tiger story.
1245
01:01:08.095 --> 01:01:11.420
And tiger does make this data public of how people invest their money.
1246
01:01:12.000 --> 01:01:13.881
So I'm not saying anything too private here.
1247
01:01:14.542 --> 01:01:27.729
But if you look, you'll find that they're invested in private equity, real estate, public equity, fixed income, private credit, hedge funds, Bitcoin, commodities, all that.
1248
01:01:27.769 --> 01:01:33.153
It's like they have allocations in lots of different places all inside their portfolios.
1249
01:01:33.973 --> 01:01:37.775
And then if you're a real estate guy, you're going to be totally cool with tons of debt.
1250
01:01:38.435 --> 01:01:41.977
If you're not a real estate guy, you'll probably be less comfortable with lots of debt.
1251
01:01:42.437 --> 01:01:44.398
Most of the people that I know have their homes paid for.
1252
01:01:44.438 --> 01:01:48.740
It's like things like, it's just, you know, it's all over the board, but that's some of the things I've learned.
1253
01:01:48.940 --> 01:01:49.360
Very cool.
1254
01:01:49.960 --> 01:01:56.864
I have played with the idea of doing some sort of like higher tier of home service business owner and it being like non-business almost.
1255
01:01:57.244 --> 01:02:04.667
Like whether it be like investing or trusts or just like – but more like relationship, lifestyle, health, travel, things like that.
1256
01:02:04.727 --> 01:02:06.048
Just I've played with the idea.
1257
01:02:06.388 --> 01:02:11.051
Even just seeing like what you do with Academy and like the relationships that were formed inside the community.
1258
01:02:11.091 --> 01:02:12.251
I still run into people all the time.
1259
01:02:12.271 --> 01:02:14.932
And they're like, oh, yeah, like I met that person in Academy.
1260
01:02:15.053 --> 01:02:15.633
I'm like, yeah.
1261
01:02:16.053 --> 01:02:23.558
There's got to be something at that level where it's not just how to do sales and how to do your door hanger, but it's like it's a little higher level.
1262
01:02:24.379 --> 01:02:29.082
I've thought about doing the same thing as I've thought about what I'm going to, you know, what I thought about what I was going to do next.
1263
01:02:29.182 --> 01:02:33.245
And I will tell you, it's one of the best things I ever did was Academy.
1264
01:02:33.846 --> 01:02:35.007
I really, really liked it.
1265
01:02:35.167 --> 01:02:42.232
So it's something I recommend, but I will tell you, I do not think it's the best use of your time or money compared to what you've got right now.
1266
01:02:42.672 --> 01:02:49.455
So if you're optimizing for what might make you give you the most enjoyment personally and satisfaction, yes.
1267
01:02:49.675 --> 01:02:56.138
If you're optimizing for building wealth and a big giant thing, you don't do it.
1268
01:02:56.418 --> 01:02:57.398
It's very distracting.
1269
01:02:57.618 --> 01:02:59.979
Remember what JP50 said to JP30.
1270
01:03:00.480 --> 01:03:02.761
He said not to worry about the money as much.
1271
01:03:02.781 --> 01:03:03.521
Agreed.
1272
01:03:03.681 --> 01:03:05.642
Yeah, that's the question you have to ask yourself.
1273
01:03:06.162 --> 01:03:06.763
Yeah, 100%.
1274
01:03:07.363 --> 01:03:07.583
Yeah.
1275
01:03:08.104 --> 01:03:08.384
Okay.
1276
01:03:08.424 --> 01:03:09.305
But it's good.
1277
01:03:09.665 --> 01:03:11.907
We're going to move to the last question on the docket.
1278
01:03:12.667 --> 01:03:17.531
And this is, I think someone had asked this and we kind of tailor it a little bit for the show.
1279
01:03:18.011 --> 01:03:25.057
But what mindset do you see as the biggest obstacle for entrepreneurs going from zero to a million and then from one million to 10 million?
1280
01:03:25.077 --> 01:03:27.379
So I'll give my two cents and then I'll volley back to you.
1281
01:03:28.079 --> 01:03:29.120
I kind of tried to break it down.
1282
01:03:29.220 --> 01:03:35.926
So from zero to a million, I see the constraint mostly just selling and then beginning stages of management.
1283
01:03:36.626 --> 01:03:50.538
So figuring out how to sell, whether it be online, digital, print, just getting a sale, identifying the pain of the customer, having an offer that's appealing, and then being able to actually consummate that sale and get enough of them.
1284
01:03:51.178 --> 01:03:55.122
And then management, because you have to typically get to a million, you need employees.
1285
01:03:55.662 --> 01:03:57.764
And so how do I actually manage employees?
1286
01:03:58.445 --> 01:04:00.507
But from a million to 10 million, I think it really switches.
1287
01:04:00.767 --> 01:04:08.755
And I think a lot of times people just think at a million, what I have seen be a limiting belief is like, oh, I'll just keep doing what I've done to get to a million.
1288
01:04:09.255 --> 01:04:11.897
And I'll get to a million, I'll double it, and I'll triple it, and I'll go to 3 million.
1289
01:04:11.917 --> 01:04:12.358
Yeah.
1290
01:04:12.638 --> 01:04:22.964
Versus from a million plus, especially getting closer to 10 million, I see leadership and decision making as really the skills that are required and leadership being very different than management.
1291
01:04:24.805 --> 01:04:36.252
And requiring now to hire managers underneath you as the founder, the leader of the organization, that being a very different skill than managing the technicians or the managers.
1292
01:04:36.312 --> 01:04:37.173
frontline team members.
1293
01:04:37.773 --> 01:04:38.954
And so that's kind of how I bucket it.
1294
01:04:38.994 --> 01:04:41.576
It was like zero to a million is sales and management.
1295
01:04:42.256 --> 01:04:46.199
Very entry-level management, I would say, because you usually need five, six, seven, maybe employees.
1296
01:04:46.680 --> 01:04:50.022
And then as you get to 10 million, it's more about leadership, decision-making.
1297
01:04:50.562 --> 01:04:53.645
No, I'll say for you, it's breathing and smiling, things like that.
1298
01:04:54.638 --> 01:04:55.559
Totally agree with that.
1299
01:04:55.999 --> 01:04:57.760
I have two different ones, but I totally agree.
1300
01:04:58.140 --> 01:05:03.763
And with the 5 for 50 thing, I've got this thing that I haven't finished called these roadmaps.
1301
01:05:03.983 --> 01:05:06.125
And so I think about the business as two engines.
1302
01:05:06.957 --> 01:05:10.058
like the revenue engine and the recruiting engine for people.
1303
01:05:10.438 --> 01:05:13.438
And so it's sort of aligned with what you said.
1304
01:05:13.658 --> 01:05:16.059
The revenue engine is the really important one under a million.
1305
01:05:16.699 --> 01:05:19.480
And then the recruiting is the one after.
1306
01:05:19.960 --> 01:05:21.240
So let me give my two answers.
1307
01:05:21.260 --> 01:05:23.360
So I'll do the one to 10 million first.
1308
01:05:23.840 --> 01:05:31.042
It really becomes, it's about, I agree with what you said about leadership, but my answer was it's very much about people, which is a leadership thing.
1309
01:05:31.062 --> 01:05:34.903
It's like getting the right people on the team and getting good at finding people.
1310
01:05:35.083 --> 01:05:36.763
Like that's really important.
1311
01:05:36.963 --> 01:05:37.824
really important.
1312
01:05:38.264 --> 01:05:51.936
And so if you're not finding the right people, you're either not able to grow, and so then you shut down the revenue machine, or you are growing, but you're just letting the wrong people on the team and you end up with a company you despise because you have the wrong people.
1313
01:05:52.216 --> 01:05:52.757
You hate it.
1314
01:05:52.837 --> 01:05:54.058
It feels painful and hard.
1315
01:05:54.578 --> 01:05:58.181
And so the people side after a million is just so critical.
1316
01:05:58.862 --> 01:06:04.788
On the zero to one million, I agree with what you said, which is aligned with what I talk about in the roadmap.
1317
01:06:04.808 --> 01:06:08.451
But I went with this idea that nobody can do it as good as me.
1318
01:06:08.691 --> 01:06:15.537
If you look at a lot of companies that get stuck at around 350,000 in revenue or half a million revenue, it's a story of...
1319
01:06:16.218 --> 01:06:19.379
It's a story of maybe they don't have the money to hire the person or they don't know who to hire.
1320
01:06:19.419 --> 01:06:24.522
But it's also a story of they can't install this thing like I install it.
1321
01:06:24.562 --> 01:06:26.322
They can't design it like I designed.
1322
01:06:26.362 --> 01:06:27.843
They can't sell it like I sell it.
1323
01:06:28.143 --> 01:06:29.103
They can't do the work.
1324
01:06:30.184 --> 01:06:32.805
They're not going to be as good at the front door, Ms. Smith, as I am.
1325
01:06:33.245 --> 01:06:36.206
It's a lot of stories of nobody can do it like me.
1326
01:06:36.627 --> 01:06:39.548
And so you don't hand off the tasks.
1327
01:06:40.028 --> 01:06:41.869
You don't trust somebody else.
1328
01:06:42.269 --> 01:06:45.571
You don't invest enough in another person to train them up so they can be as good as you.
1329
01:06:45.752 --> 01:06:46.452
So those are my two.
1330
01:06:47.012 --> 01:06:50.655
And I think if you can't recruit, to your point, it's almost like supply and demand.
1331
01:06:50.915 --> 01:06:54.057
Like most of the time to get to a million, you just need more demand.
1332
01:06:54.237 --> 01:06:55.057
You need more customers.
1333
01:06:55.077 --> 01:06:55.838
You need more leads.
1334
01:06:56.478 --> 01:06:59.720
But then after that engine has – you have that momentum.
1335
01:06:59.920 --> 01:07:00.821
I think you said this.
1336
01:07:00.841 --> 01:07:01.481
I apologize if not.
1337
01:07:03.562 --> 01:07:06.824
any business like doing 10 million plus, it's like it already has so much momentum.
1338
01:07:06.884 --> 01:07:07.544
Yes, I said that.
1339
01:07:07.564 --> 01:07:08.285
I believe that.
1340
01:07:08.345 --> 01:07:09.886
It's already moving so much, right?
1341
01:07:10.306 --> 01:07:13.968
And it's hard to stop it because like it just has so much momentum behind it.
1342
01:07:14.348 --> 01:07:17.209
And then it inevitably is no longer a demand issue.
1343
01:07:17.369 --> 01:07:18.370
It is a supply issue.
1344
01:07:18.410 --> 01:07:19.791
Can I get good people?
1345
01:07:20.111 --> 01:07:22.712
Can I build out a leadership and management team?
1346
01:07:23.092 --> 01:07:26.574
Can I create the systems where this all doesn't fall apart because of the weight that's being put on it?
1347
01:07:26.974 --> 01:07:31.677
And so I think it's almost like to your point, even if we boil it down lower, it's like you got to get demand.
1348
01:07:32.237 --> 01:07:37.700
And once you have enough of that, it's all about just making sure you have the supply to be able to make sure you don't fall apart.
1349
01:07:38.160 --> 01:07:39.360
Yeah, I agree.
1350
01:07:40.121 --> 01:07:45.883
I had one other little idea here that isn't really what you were asking, but your word mindset just triggered this random little idea.
1351
01:07:45.903 --> 01:07:46.984
It was a mistake I made.
1352
01:07:47.064 --> 01:07:51.166
And so I thought I'd mention it for anybody that might feel this way.
1353
01:07:51.606 --> 01:07:55.208
So when I got started in the business, I didn't really know the business.
1354
01:07:55.228 --> 01:07:59.590
The thing you have to remember is I was a high school kid that mowed lawns and trimmed bushes.
1355
01:08:00.190 --> 01:08:00.750
That's all I did.
1356
01:08:01.090 --> 01:08:04.912
Then I out of the business for years and I get back in the business for CityTurf.
1357
01:08:05.412 --> 01:08:05.612
Okay.
1358
01:08:06.052 --> 01:08:11.934
So I thought we needed to look really professional and bigger and like to compete.
1359
01:08:11.975 --> 01:08:16.936
Like when I started CityTurf, True Green Landcare was big and residential in my market.
1360
01:08:17.517 --> 01:08:19.317
So people think of True Green as fertilization.
1361
01:08:19.637 --> 01:08:22.198
The Landcare division was doing lots of maintenance.
1362
01:08:22.218 --> 01:08:24.179
There was a bunch of bigger companies.
1363
01:08:24.239 --> 01:08:25.720
It was heavily contracts.
1364
01:08:26.628 --> 01:08:28.869
And it was a very different business than it is today.
1365
01:08:28.889 --> 01:08:33.370
Like when we went selling over the phone, quoting over the phone, that was really unusual.
1366
01:08:33.750 --> 01:08:36.772
Charging a credit card, way, like crazy, unusual.
1367
01:08:37.092 --> 01:08:39.713
And so my, it's very, the business has really changed.
1368
01:08:40.193 --> 01:08:44.094
Where I'm going with that is I just felt looking at the market, I needed to be bigger.
1369
01:08:44.134 --> 01:08:49.056
And I don't know if this is a thing people feel like they want to represent themselves as bigger.
1370
01:08:49.136 --> 01:08:51.937
But the simple concept here or thought is...
1371
01:08:52.657 --> 01:08:53.558
play to your strength.
1372
01:08:53.678 --> 01:08:56.360
Like we are going to have different phases of business.
1373
01:08:56.801 --> 01:09:05.229
And when you're small, I'd play that angle up in terms of what that means to how you'll serve the client and be present with the client.
1374
01:09:05.249 --> 01:09:07.751
So as your business progresses, you're going to have
1375
01:09:07.851 --> 01:09:11.594
You can do different things to serve the client and treat them differently.
1376
01:09:12.014 --> 01:09:13.175
And I've played to that strength.
1377
01:09:13.195 --> 01:09:19.841
So just don't, I don't think it's necessary to try to represent yourself as some big company when you're not a big company.
1378
01:09:20.101 --> 01:09:29.028
I don't know if that will resonate with anybody, but that's something I also noticed in the service autopilot world that I was like, hey, you know, if it were me and I was running this business, I'd totally play the angle.
1379
01:09:29.048 --> 01:09:32.931
There's only four crews here and we are going to take care of you like nobody else.
1380
01:09:34.017 --> 01:09:34.177
Yeah.
1381
01:09:34.237 --> 01:09:39.858
And it's funny because I always say it's like you have this identity crisis because you you have that angle.
1382
01:09:39.939 --> 01:09:42.239
And I'm always a big believer in like play to your strengths.
1383
01:09:42.439 --> 01:09:51.121
Don't try to be something you're not when it comes to the size of your business, because they will inevitably be disappointed if they think you have 100 members and you show up every single week and then they don't like you.
1384
01:09:51.141 --> 01:09:52.021
And they're like, can I have someone else?
1385
01:09:52.041 --> 01:09:53.302
You're like, no, you're kind of stuck with me.
1386
01:09:55.042 --> 01:09:59.106
But then as the business grows, you eventually have to get to the point where, okay, now I don't have four crews.
1387
01:09:59.406 --> 01:10:00.527
I have 15 crews.
1388
01:10:00.787 --> 01:10:06.071
And now I've got to convince them that like I almost want to change my identity to, okay, now we are more professional.
1389
01:10:06.612 --> 01:10:08.953
And I think it's when you start trying to become something you're not.
1390
01:10:08.973 --> 01:10:15.279
And it almost shifts to where when you're bigger, you're like, okay, now I'm going to try to appear smaller because I'm trying to market to what I'm not.
1391
01:10:16.319 --> 01:10:17.881
Like Apple trying to appear small.
1392
01:10:17.921 --> 01:10:20.943
And then like you got the guy in his garage trying to appear massive.
1393
01:10:21.223 --> 01:10:21.383
Right.
1394
01:10:21.403 --> 01:10:21.904
Very interesting.
1395
01:10:21.944 --> 01:10:22.164
Yeah.
1396
01:10:22.845 --> 01:10:23.105
Agreed.
1397
01:10:23.545 --> 01:10:24.425
Okay, I want to go back.
1398
01:10:24.525 --> 01:10:27.267
We're going to go to non-financial advice in just a second, but I want to go back.
1399
01:10:27.647 --> 01:10:32.929
Because the questions at the beginning, you had better questions for me than I had for you.
1400
01:10:33.329 --> 01:10:33.589
Really?
1401
01:10:33.770 --> 01:10:33.990
Okay.
1402
01:10:34.010 --> 01:10:37.111
Yeah, because I took it from a different angle.
1403
01:10:37.451 --> 01:10:38.832
And so now I have my real questions.
1404
01:10:38.892 --> 01:10:41.353
I haven't thought about this, but in the last three minutes.
1405
01:10:42.293 --> 01:10:43.534
I couldn't let this opportunity go by.
1406
01:10:43.574 --> 01:10:47.555
So you asked really specific questions like CityTurf and Augusta.
1407
01:10:47.915 --> 01:10:49.976
So I'm going to ask you really specific questions.
1408
01:10:50.196 --> 01:10:50.516
Okay.
1409
01:10:51.077 --> 01:10:53.758
I'm going to not recant.
1410
01:10:53.778 --> 01:10:54.278
What's the word?
1411
01:10:54.338 --> 01:10:55.698
Take back my other questions, I guess.
1412
01:10:55.999 --> 01:10:57.199
You could have extra questions.
1413
01:10:57.219 --> 01:10:57.939
You have to take them back.
1414
01:10:58.019 --> 01:10:58.359
There you go.
1415
01:10:58.379 --> 01:10:59.940
Yeah, this is my third and my fourth question.
1416
01:11:00.280 --> 01:11:00.980
We're the moderators.
1417
01:11:01.000 --> 01:11:01.881
We can just do this.
1418
01:11:02.281 --> 01:11:04.442
So if you were running HomeWorks right now,
1419
01:11:05.237 --> 01:11:16.405
Knowing what you do know, which I know is limited, but like knowing what you do know about the technology space, service autopilot, where you wanted to take it, current players and even business owners that you know in the market.
1420
01:11:16.865 --> 01:11:25.711
If you were like dropped into my shoes, what would be the first things you'd be looking at or which direction would you be pushing me in the direction of focusing on?
1421
01:11:26.402 --> 01:11:28.303
I think I need a little more context there.
1422
01:11:28.323 --> 01:11:32.045
When you say focusing, are we talking about building the tech, selling to clients?
1423
01:11:32.065 --> 01:11:33.025
What do you mean exactly?
1424
01:11:33.305 --> 01:11:34.086
Great point.
1425
01:11:34.726 --> 01:11:40.109
I think just more or less, like I know when you left Service Alphabet, you have a pretty clear vision of what you wanted to build.
1426
01:11:40.469 --> 01:11:44.751
And you obviously saw that there was a need for, in the market for that development.
1427
01:11:45.078 --> 01:11:46.640
If I were to build a new thing, yeah.
1428
01:11:46.861 --> 01:11:48.803
Or even where you were taking Service All Pilot version 2.
1429
01:11:48.843 --> 01:11:49.624
Oh, yeah.
1430
01:11:50.065 --> 01:11:50.846
Oh, yeah, yeah, yeah, yeah.
1431
01:11:51.387 --> 01:11:53.329
And so- Service All Pilot was a little stuck.
1432
01:11:53.369 --> 01:11:56.594
So what I'd build now is different than what I'd build if I still own Service All Pilot.
1433
01:11:57.043 --> 01:11:57.904
Okay.
1434
01:11:58.024 --> 01:11:59.545
Oh, man.
1435
01:11:59.565 --> 01:11:59.765
Okay.
1436
01:11:59.785 --> 01:12:02.346
So that's much more blue ocean way of looking at it.
1437
01:12:02.666 --> 01:12:08.310
So assuming you have backend service hotspot where you feel a little stuck because you do have, you have clients, you have infrastructure.
1438
01:12:08.710 --> 01:12:10.311
It's not like you're building from scratch.
1439
01:12:11.031 --> 01:12:12.892
What would you be thinking next like few years?
1440
01:12:12.932 --> 01:12:16.755
Because for example, from my perspective, I am very much thinking of us as a
1441
01:12:17.495 --> 01:12:23.140
What will AI not be able to replicate being really, really good at that and then making it easy for people to pour into?
1442
01:12:23.560 --> 01:12:28.264
So, for example, dispatch routing elements around some payment stuff.
1443
01:12:28.544 --> 01:12:30.926
But like a lot of automations, reports, et cetera.
1444
01:12:31.347 --> 01:12:33.248
I feel like AI is going to do a fantastic job of that.
1445
01:12:33.548 --> 01:12:36.151
And so I'm really trying to focus on like, what's our differentiator?
1446
01:12:36.511 --> 01:12:41.855
What do we do so well that they're not going to be able to copy and that they wouldn't want to put all of their data into some...
1447
01:12:42.636 --> 01:12:44.937
something they just spin up, vibe coding.
1448
01:12:45.277 --> 01:12:53.620
That's where my head is at right now, but where would your head be at from the next 36 to 60 months in this space, CRM world?
1449
01:12:53.660 --> 01:12:55.561
I don't know if I'm going to answer exactly what you're asking.
1450
01:12:55.581 --> 01:13:01.943
So man, redirect me here because there are so much we could talk about, but it may be different now because you can vibe code so much stuff.
1451
01:13:02.683 --> 01:13:10.273
But when I was thinking about the next service autopilot, I was one thing I was going to do that you can't that I don't think you can or should do.
1452
01:13:10.834 --> 01:13:14.238
And then the other thing that I was thinking about, I think, applies.
1453
01:13:14.599 --> 01:13:20.086
The first thing is I was going to go way up market, smaller business, fewer clients, smaller business.
1454
01:13:20.186 --> 01:13:21.187
paying us much more money.
1455
01:13:21.567 --> 01:13:22.748
And I don't think you can do that.
1456
01:13:22.928 --> 01:13:25.750
It's not it's not that you can't serve bigger clients.
1457
01:13:26.070 --> 01:13:26.531
You will.
1458
01:13:27.131 --> 01:13:33.636
But I was going to exclusively focus on and they might be a smaller client there is willing to pay up because they know they're going to be big someday.
1459
01:13:34.176 --> 01:13:42.322
The problem that we had at Service Autopilot is it's almost impossible in the technology to serve the smaller company and the big company doing.
1460
01:13:42.642 --> 01:13:48.347
I'll use the example of a company that does 150 jobs a day and a company that does 2000 jobs a day.
1461
01:13:48.867 --> 01:13:58.253
They are literally completely different organizations in the way they think and the way they – the stuff they have to do on the – within the UX.
1462
01:13:59.133 --> 01:14:02.475
And so it's really hard to serve both of them really, really well.
1463
01:14:02.756 --> 01:14:04.717
So I was just going to go way up market.
1464
01:14:05.478 --> 01:14:13.345
You can't do that, though, because you've got Augusta and you've got to build for Augusta and the broader market anyway is a smaller company.
1465
01:14:13.625 --> 01:14:19.971
And so I think you have to kind of understand as much as you won't like this.
1466
01:14:20.592 --> 01:14:24.615
who you're going after and say, I'm going after $3 million.
1467
01:14:24.635 --> 01:14:31.919
Just an example, I'm not saying this is the number, but I'm for $3 million companies and less, which is at the end of the day, like 90% of the market.
1468
01:14:32.320 --> 01:14:42.647
But I think you have to kind of decide because, and I can't figure out how AI changes this yet, because a city turf operates completely different than a,
1469
01:14:43.467 --> 01:14:49.530
and operate completely different than a lot of the service autopilot members, CityTurf never got the functionality they needed.
1470
01:14:49.770 --> 01:14:50.490
They just didn't.
1471
01:14:51.390 --> 01:14:57.153
And the small guys got functionality that was just, they didn't need it and it complicated the screens.
1472
01:14:57.953 --> 01:14:59.634
And so like, how do you find the sweet spot?
1473
01:14:59.654 --> 01:15:01.795
That'd be one thing to just put a lot of thought into.
1474
01:15:02.095 --> 01:15:04.316
Who is the sweet spot and how do I only build for them?
1475
01:15:04.656 --> 01:15:07.137
And I'm totally okay turning away the CityTurfs.
1476
01:15:08.137 --> 01:15:09.738
and certain other types of companies.
1477
01:15:10.278 --> 01:15:18.121
One thing you do have going for you is because you're building for Augusta, you have to be able to handle franchises and or multi-location.
1478
01:15:18.141 --> 01:15:19.982
A lot of software products don't handle that.
1479
01:15:20.342 --> 01:15:24.264
And if you look at across franchises and multi-location, they tend to be smaller.
1480
01:15:24.464 --> 01:15:25.724
They'll fit right into your world.
1481
01:15:25.764 --> 01:15:27.425
So like that's an advantage right there.
1482
01:15:28.045 --> 01:15:34.087
The serving the franchise people or the multi location people is also very different than serving the one off guy.
1483
01:15:34.127 --> 01:15:36.688
So it's just back to this clarity.
1484
01:15:37.028 --> 01:15:38.668
Okay, that's one thing I think about.
1485
01:15:39.089 --> 01:15:42.750
I just don't know how if I was doing another service, I can live in both worlds.
1486
01:15:43.330 --> 01:15:43.911
Maybe I'm wrong.
1487
01:15:43.951 --> 01:15:44.571
Maybe we could have.
1488
01:15:44.611 --> 01:15:45.272
I just don't know how.
1489
01:15:45.693 --> 01:15:52.360
I talk to too many people, listen to too many onboarding calls, too many sales calls, too many everything, too many feature requests.
1490
01:15:52.440 --> 01:15:56.764
It's just, I don't know if it's possible to go too far upmarket in the same software.
1491
01:15:57.205 --> 01:15:57.725
And then...
1492
01:15:58.366 --> 01:16:06.850
The other one that I had decided on, and this is the thing I don't know for you because of where we're at in the market.
1493
01:16:07.230 --> 01:16:20.537
If I was building a new service autopilot, I was going to build hardcore scheduling, costing, just be the best of the best at that and not do the other stuff and build APIs into HubSpot, Salesforce, Salesforce.
1494
01:16:21.077 --> 01:16:22.018
whatever other system.
1495
01:16:22.318 --> 01:16:25.060
But that made sense because I was going up market.
1496
01:16:25.521 --> 01:16:33.127
Even in a world with you being able to vibe code and turn out all kinds of functionality, we won't know the answer to this for years.
1497
01:16:33.968 --> 01:16:35.689
Our system's going to become so...
1498
01:16:36.490 --> 01:16:40.331
Like service autopilot could never build everything we dreamed of.
1499
01:16:40.371 --> 01:16:43.612
And we promised this in the early days, this one system to run your business.
1500
01:16:43.872 --> 01:16:44.632
It was a pipe dream.
1501
01:16:44.892 --> 01:16:46.713
Well, now maybe it's less of a pipe dream.
1502
01:16:47.013 --> 01:16:54.635
But can you even build a really organized, well put together focused system when you can build anything as fast as you want it every time you have an idea?
1503
01:16:55.035 --> 01:16:58.936
I suspect the new problem is systems are just going to be a ginormous mess.
1504
01:16:59.656 --> 01:17:02.757
Because now you can do everything you want to do.
1505
01:17:03.077 --> 01:17:03.657
But should you?
1506
01:17:04.337 --> 01:17:07.240
And that's something I've been thinking a lot about with technology.
1507
01:17:07.720 --> 01:17:16.047
And so for you, I don't have the answer, but I think you still have to have one hardcore lane that you are by far the best at.
1508
01:17:16.127 --> 01:17:19.090
And everything else is good, but it's not really a focus.
1509
01:17:19.410 --> 01:17:23.694
And I think scheduling and costing is the defensible lane in an AI world.
1510
01:17:24.194 --> 01:17:27.796
like really having all that data and being incredibly good at it.
1511
01:17:28.356 --> 01:17:42.643
Like even in a world where an AI model is going to be able to do the scheduling for a company, there's going to be a long period of time where it's like, okay, yes, all this could be contained inside a model, but people are never going to be comfortable with that because they have to verify on a screen.
1512
01:17:42.923 --> 01:17:49.486
They still need the CRUD database that put Pate's data back out to the screen where it's like, yes, that did get done.
1513
01:17:49.526 --> 01:17:50.707
Yes, that did get invoiced.
1514
01:17:51.407 --> 01:17:52.128
They need to see it.
1515
01:17:52.148 --> 01:18:02.395
So this idea that the user interface is going to be completely reinvented and changed, I don't buy it because while it's possible it could be reinvented and changed, people are not going to let it happen.
1516
01:18:02.776 --> 01:18:15.225
Ms. Smith, who's 53 years old, answering the phone inside a home services company, is not going to live in a completely new paradigm where all she does is talk to her system and trust that everything's happening correctly.
1517
01:18:15.265 --> 01:18:19.088
She wants to see it on her screen, and that interface is going to last a long time.
1518
01:18:19.588 --> 01:18:26.074
And where I'm going with that is that if we still have to have a lot of interface, if you have a massive system, people's brains shut down.
1519
01:18:26.554 --> 01:18:29.937
So it's like on one hand, you guys could build it all and it could be great.
1520
01:18:30.297 --> 01:18:34.521
But what will accidentally happen is because of the audience you're selling to, it'll be too much.
1521
01:18:34.741 --> 01:18:35.482
Like they'll love it.
1522
01:18:35.542 --> 01:18:36.783
The sales dream will be great.
1523
01:18:37.023 --> 01:18:39.045
But when they're in the system, it's like, oh.
1524
01:18:39.485 --> 01:18:40.406
It's too much.
1525
01:18:40.646 --> 01:18:49.311
So I don't have the answer to it, but really saying this is what we're about and being really focused on that, I think still matters in a world where you can build anything.
1526
01:18:49.351 --> 01:18:51.352
And I think it's clearly scheduling.
1527
01:18:51.632 --> 01:19:00.838
And then how can you start, like I think about the new product still, even though I'm not building one, I'll never be able to stop thinking about what would be next.
1528
01:19:01.338 --> 01:19:03.719
How can you completely reinvent inputs?
1529
01:19:04.700 --> 01:19:07.742
The idea that my team, I've thought about this a lot.
1530
01:19:08.442 --> 01:19:14.186
The idea that my team uses a mobile device to put in what they did makes no sense to me.
1531
01:19:15.026 --> 01:19:19.509
If that is what the world looks like in five years, I can't fathom it.
1532
01:19:20.009 --> 01:19:22.971
If I was building today, I'm building something totally different.
1533
01:19:22.991 --> 01:19:23.972
You're using a mobile device.
1534
01:19:24.012 --> 01:19:25.273
You're not typing in your device.
1535
01:19:25.833 --> 01:19:27.074
My technician is not typing.
1536
01:19:27.634 --> 01:19:28.134
I have a lot.
1537
01:19:28.194 --> 01:19:29.375
I've actually already code vibes.
1538
01:19:29.495 --> 01:19:34.317
I've already vibe code something around this just to see what it would look like because Philip and I were talking about it.
1539
01:19:35.058 --> 01:19:39.140
And so how can you reinvent the entire input?
1540
01:19:40.060 --> 01:19:52.267
If I'm asking a guy that speaks Spanish to have to type in all this stuff and what chemical he used and how many products he used and customer notes, like this is what I want to tell Ms. Smith.
1541
01:19:52.807 --> 01:19:54.928
Versus this is what the office needs to know.
1542
01:19:54.968 --> 01:19:59.530
This is what the tech that's going to be back on the property in three weeks needs to know or two months.
1543
01:19:59.990 --> 01:20:02.691
You don't get anything because they have to type.
1544
01:20:02.731 --> 01:20:04.471
You get no information.
1545
01:20:05.192 --> 01:20:12.614
So what's the input mode that would capture the most amount of information and then automatically take the information and send it where it needs to go?
1546
01:20:12.915 --> 01:20:14.095
This needs to go to the customer.
1547
01:20:14.335 --> 01:20:15.736
This needs to go to chemical tracking.
1548
01:20:15.936 --> 01:20:17.216
This needs to go to office notes.
1549
01:20:17.476 --> 01:20:20.297
This needs to go to the notes to the next tech that's on the property.
1550
01:20:20.377 --> 01:20:21.318
What's that new...
1551
01:20:22.118 --> 01:20:22.879
mode of capture.
1552
01:20:23.379 --> 01:20:28.365
And then also, if you think about a lot of the guys are so busy, like they don't want to write all this stuff.
1553
01:20:28.925 --> 01:20:34.130
Like at CityTurf, we have this really good process of leaving stuff on your door and a text still writes on it.
1554
01:20:34.171 --> 01:20:34.811
It's personal.
1555
01:20:35.372 --> 01:20:37.774
That's great, except most people don't write very good.
1556
01:20:39.235 --> 01:20:41.296
You know, and I'm not knocking anybody.
1557
01:20:41.356 --> 01:20:43.016
I think my writing's got worse too.
1558
01:20:43.116 --> 01:20:46.057
I'm not like putting myself out there as better than anybody else.
1559
01:20:46.077 --> 01:20:49.738
But, and so that, on one hand, it's a nice experience for the client.
1560
01:20:49.758 --> 01:20:52.259
On the other hand, it's like, can they read it very well?
1561
01:20:52.559 --> 01:20:55.520
So how do you get the information and more information to the client better?
1562
01:20:55.800 --> 01:20:57.261
Those are the big things.
1563
01:20:57.281 --> 01:21:00.422
So if you think about where you guys spend your brain power,
1564
01:21:01.302 --> 01:21:06.168
It just keeps pulling you back to scheduling, billing, and costing, in my opinion.
1565
01:21:06.188 --> 01:21:09.352
Like, yeah, there's all this other really cool stuff you should do.
1566
01:21:09.372 --> 01:21:17.462
I'm not saying you don't do it because it's just that you have to pick a lane that you're just going to dominate and a lot of other stuff is going to get ignored.
1567
01:21:18.082 --> 01:21:24.165
And at the end of the day, my belief is people buy your system for scheduling and billing and understand their data more than they're going to.
1568
01:21:24.225 --> 01:21:27.927
I'm not saying you don't do marketing, but if you have to rank it, they're buying you for that.
1569
01:21:28.207 --> 01:21:36.371
They didn't come into your system because I need marketing data because they want to send an email blast because I want to create a to do because I want to respond to a text message.
1570
01:21:36.391 --> 01:21:37.972
That's not why they bought your system first.
1571
01:21:37.992 --> 01:21:40.453
They bought your system first for scheduling and billing.
1572
01:21:40.754 --> 01:21:43.055
And that is the unique selling proposition here.
1573
01:21:43.095 --> 01:21:47.277
So it has to be the thing above all the things that you destroy all the competition with.
1574
01:21:47.697 --> 01:21:50.021
And the other stuff, you know, it matters.
1575
01:21:50.481 --> 01:21:53.926
I'm not saying you don't do it, but that's how I think you have to think about it when you allocate resources.
1576
01:21:54.780 --> 01:21:56.721
You mentioned job costing.
1577
01:21:57.381 --> 01:21:58.801
Would that be mostly for projects?
1578
01:21:59.301 --> 01:21:59.482
No.
1579
01:21:59.962 --> 01:22:00.142
No.
1580
01:22:00.222 --> 01:22:04.103
So still at the- I want to know my COGS by division, by service.
1581
01:22:04.883 --> 01:22:13.366
I have all of it at CityTurf, but it requires- We have had it forever at CityTurf.
1582
01:22:13.486 --> 01:22:17.867
We can tell you our COGS, our gross margin, our man hour rate, our labor rate.
1583
01:22:18.348 --> 01:22:19.088
We can tell you all of it.
1584
01:22:19.168 --> 01:22:22.669
Do you not think that's something that would be done very easily with vibe coding or not really?
1585
01:22:22.689 --> 01:22:22.749
No.
1586
01:22:22.909 --> 01:22:23.229
Oh, no.
1587
01:22:23.509 --> 01:22:24.190
Yeah, yeah, yeah, yeah.
1588
01:22:24.230 --> 01:22:24.490
You can.
1589
01:22:24.530 --> 01:22:25.471
Yeah, yeah, yeah, yeah.
1590
01:22:25.751 --> 01:22:26.832
It needs to be in your system.
1591
01:22:27.272 --> 01:22:28.192
Oh, I see what you're saying.
1592
01:22:28.373 --> 01:22:29.433
The inputs need to be there.
1593
01:22:29.473 --> 01:22:29.753
Got it.
1594
01:22:30.014 --> 01:22:36.418
Yeah, this is what I say the most important things for your system to do are scheduling, billing, and that.
1595
01:22:37.170 --> 01:22:40.472
Give me the data for the operational side of the business.
1596
01:22:40.732 --> 01:22:45.734
So, well, we've talked years ago, like, tell me what to do with the data.
1597
01:22:45.834 --> 01:22:50.196
Like, we finally can live in the – that's really hard to do in service all pilot days.
1598
01:22:50.216 --> 01:22:56.239
But now you guys can run models across the data and say, this is where the problem is.
1599
01:22:56.299 --> 01:22:57.179
This is what you should do.
1600
01:22:57.219 --> 01:23:00.801
You can start surfacing those opportunities to your clients.
1601
01:23:01.021 --> 01:23:01.261
Yeah.
1602
01:23:01.782 --> 01:23:12.672
If you think about just what you could do going down scheduling, billing, and giving them data to figure out how to price better, to figure out where they have density problems, to figure out all that stuff out, it's magic.
1603
01:23:12.932 --> 01:23:14.494
And that system does not exist.
1604
01:23:14.854 --> 01:23:16.816
And that system is completely solvable right now.
1605
01:23:16.836 --> 01:23:18.217
And that's the system I'd be building.
1606
01:23:19.018 --> 01:23:21.419
to the detriment of every other piece of functionality.
1607
01:23:21.539 --> 01:23:26.642
I'd let, like to the detriment of email marketing and marketing and all the other stuff.
1608
01:23:26.662 --> 01:23:33.226
Like, again, I would, the ideal is it's all in one system, but even in a vibe coding world, it's not writing code.
1609
01:23:33.606 --> 01:23:35.247
Like writing code is only part of it.
1610
01:23:35.267 --> 01:23:43.132
Like designing it is a mass, as you know, it's like the biggest, it's the hardest part of this whole thing, thinking about what gets in and how all the data interacts.
1611
01:23:43.512 --> 01:23:45.133
And the other thing that I think is really important
1612
01:23:45.733 --> 01:23:46.934
Hopefully I'm not going too far with this.
1613
01:23:47.174 --> 01:23:47.694
Oh, that's great.
1614
01:23:47.874 --> 01:23:49.675
The other thing is really... My personal coaching call.
1615
01:23:49.795 --> 01:23:49.996
Yeah.
1616
01:23:50.176 --> 01:23:59.481
The other thing that's really important is like, I think when you're writing software right now, there could be this default where it's like, okay, well, I'm just going to let AI solve all this stuff.
1617
01:23:59.541 --> 01:23:59.721
Okay.
1618
01:23:59.741 --> 01:24:05.125
So like, we're just going to accumulate data and then we're going to run a data model over top.
1619
01:24:05.625 --> 01:24:07.506
We're going to run an AI model over top of it.
1620
01:24:07.526 --> 01:24:09.047
And we're just going to extract all the data.
1621
01:24:09.567 --> 01:24:13.552
Or we're going to let the data figure out or the model figure out how to do all this stuff.
1622
01:24:14.013 --> 01:24:20.921
And I think what we're going to and I know there will be open source models, but I think what we're going to find ourselves in is people are going to buy software thinking it's going to cost them 300 a month.
1623
01:24:21.321 --> 01:24:25.887
And when they when they have a massive data set, it's going to cost them 1500 dollars a month.
1624
01:24:26.127 --> 01:24:48.158
in the future and so i think as a builder of technology we also have to be really cognizant of what's being built as an algorithm what's being built as a an ai model it's going to run over data how do we really get good at carving out just the data needed to pass that into the model stuff you're probably dealing with right now like that it's i use that as an example to say
1625
01:24:49.158 --> 01:24:55.379
There are so many decisions that are going to have to be made to be the best scheduling, billing, and costing system out there.
1626
01:24:55.959 --> 01:24:59.120
It doesn't leave a crazy amount of time to be the best at every other thing.
1627
01:24:59.380 --> 01:25:01.160
You have to have estimating too.
1628
01:25:01.220 --> 01:25:02.141
I put that as the fourth.
1629
01:25:02.161 --> 01:25:05.821
That has to be really good because it's too tight.
1630
01:25:05.881 --> 01:25:07.922
I actually don't think you have to have estimating.
1631
01:25:08.302 --> 01:25:14.443
I've thought about this a lot because I've convinced Riley to build estimating into every chat because I'm staying on SA.
1632
01:25:14.683 --> 01:25:16.684
So I'm like, could I give up estimating at SA?
1633
01:25:16.804 --> 01:25:18.424
Yes, we're moving it to every chat.
1634
01:25:19.084 --> 01:25:21.887
So I don't think you have to have it, but it is a really nice bundle.
1635
01:25:23.329 --> 01:25:27.893
Again, I hope we probably just lost everybody in the conversation, but I will tell you one of the things.
1636
01:25:27.913 --> 01:25:28.374
So I did it at the end.
1637
01:25:28.394 --> 01:25:29.375
I was going to do it at the beginning.
1638
01:25:29.475 --> 01:25:33.299
I was like, no, I'll do it at the end once everyone, all the retention curve is off.
1639
01:25:34.820 --> 01:25:42.148
So the value of having estimating in the same system is if you can create a mechanism where you can click a button and auto schedule all of it.
1640
01:25:42.328 --> 01:25:44.470
Do you guys do a package concept like we did?
1641
01:25:44.670 --> 01:25:45.170
Okay.
1642
01:25:45.190 --> 01:25:47.352
Can you automatically create the packages?
1643
01:25:47.392 --> 01:25:48.493
Can you automatically create this?
1644
01:25:48.733 --> 01:25:50.274
That's where estimating gets really cool.
1645
01:25:50.695 --> 01:25:52.516
We had some of that in service autopilot.
1646
01:25:53.017 --> 01:25:54.438
It worked best for packages.
1647
01:25:54.858 --> 01:25:56.379
I don't know how much it was actually used though.
1648
01:25:56.580 --> 01:25:59.702
And that's why I said, how far do you need to go with estimating?
1649
01:26:00.082 --> 01:26:05.367
I'll tell you, if you go to, this is estimating, perfect example for big companies versus small companies.
1650
01:26:05.567 --> 01:26:05.827
Okay.
1651
01:26:05.987 --> 01:26:09.110
If you think about service autopilot estimating, we had cost.
1652
01:26:09.130 --> 01:26:13.293
I don't know if you remember, but we had all this costing stuff in there, all kinds of things.
1653
01:26:13.793 --> 01:26:15.515
It was never enough for the big companies.
1654
01:26:15.735 --> 01:26:17.757
And it blew the mind of all the small guys.
1655
01:26:18.197 --> 01:26:18.917
Blew their mind.
1656
01:26:19.078 --> 01:26:24.902
Like just like number one thing that people wanted off the screens because they don't actually do that stuff.
1657
01:26:25.042 --> 01:26:31.307
And so this is it's a perfect dilemma of how do you build something that works for both markets?
1658
01:26:31.348 --> 01:26:31.528
Yeah.
1659
01:26:32.278 --> 01:26:37.476
And yeah, so those are some, I mean, I got a lot more ideas, but those are some of the big ones that I'd be thinking about.
1660
01:26:38.097 --> 01:26:38.637
Okay, that's great.
1661
01:26:38.657 --> 01:26:39.358
That was my first one.
1662
01:26:39.398 --> 01:26:40.698
Now I got to replace my second one.
1663
01:26:40.778 --> 01:26:41.079
All right.
1664
01:26:41.419 --> 01:26:49.043
I'm in this, I won't say strange position, but like a lot of the things that I currently have in the oven, I need to just wait on.
1665
01:26:49.703 --> 01:26:53.545
I have great teams working on certain problems in all three departments.
1666
01:26:53.565 --> 01:26:57.768
So we have homeworks, software, franchise, Augusta, and media.
1667
01:26:58.268 --> 01:27:02.270
And as much as everyone in those individual departments would be screaming for my attention, like, yeah.
1668
01:27:02.270 --> 01:27:02.970
should be focused on this?
1669
01:27:02.990 --> 01:27:03.771
You should be focused on this.
1670
01:27:04.351 --> 01:27:12.417
I know I have great people working on these problems and some of it might take some time to bake, but me getting involved is actually going to cause more problems than anything.
1671
01:27:12.517 --> 01:27:24.925
If you were in my shoes, what would be some of the questions you'd be asking yourself to determine where should I be deploying my energy or my time without causing undue frustration for the internal team that for some of these things, it's just as literal as...
1672
01:27:25.565 --> 01:27:27.366
I need to wait and let these things bake.
1673
01:27:27.786 --> 01:27:30.167
So the MCP thing is a great example.
1674
01:27:30.447 --> 01:27:33.768
It is now past my level in terms of what they're trying to figure out.
1675
01:27:34.248 --> 01:27:46.192
I know that this is a matter of iterations, multiple layers of beta testing, figure out where things break, and just six months of really honing this in, me getting involved is going to probably cause more damage than anything.
1676
01:27:46.952 --> 01:27:57.096
Um, but there's multiple instances of that, but from those three kind of layers of the business, what would be some of the questions you'd be asking yourself to be like, what should I be focused my time and energy on?
1677
01:27:57.316 --> 01:28:03.578
So let me, before I try to come up with questions, let me tell you what first comes to mind that you should be focused on, right?
1678
01:28:03.658 --> 01:28:05.279
What you just said, this is not what you're asking.
1679
01:28:05.299 --> 01:28:08.320
What you just said is why I would tell you, you should absolutely not do a coaching business.
1680
01:28:09.528 --> 01:28:17.256
You have so many things going, and these things have the potential to be so good and so big, you don't want to get distracted.
1681
01:28:18.317 --> 01:28:23.562
You've got – even though you don't have to run them, it's a lot still because your brain has to think about them.
1682
01:28:24.042 --> 01:28:27.065
So then how do you action your time within them?
1683
01:28:27.125 --> 01:28:28.546
The thing I think about is –
1684
01:28:29.587 --> 01:28:30.068
Two things.
1685
01:28:30.428 --> 01:28:32.650
So let's use the example of the MCP project.
1686
01:28:33.711 --> 01:28:37.475
Your job is you can't possibly be as technical as your team.
1687
01:28:37.955 --> 01:28:41.138
You can't possibly know all the little fine details.
1688
01:28:41.498 --> 01:28:48.124
But what you can do is you can ask questions all the time, even if it's a little bit annoying for them because it...
1689
01:28:48.965 --> 01:28:52.288
It creates this element of challenging them and making them think.
1690
01:28:52.869 --> 01:28:56.272
It's really easy for us to just knock projects out and sometimes not think about them.
1691
01:28:56.292 --> 01:28:57.092
We just want to get them done.
1692
01:28:57.613 --> 01:29:03.158
And so your role in this is to ask the good questions just to make sure things are going in the right direction.
1693
01:29:03.578 --> 01:29:05.279
So it's not that you're trying to...
1694
01:29:06.120 --> 01:29:08.202
layer on more to do's into the project.
1695
01:29:08.543 --> 01:29:16.892
It's that, do you have a demo cadence in the company where that team is demoing to you or in stakeholders, what is being delivered?
1696
01:29:17.433 --> 01:29:20.316
So in other words, I'll go back to my estimating project.
1697
01:29:20.336 --> 01:29:21.317
You're building estimating.
1698
01:29:21.577 --> 01:29:22.558
There was a design.
1699
01:29:22.838 --> 01:29:24.340
Everybody agreed to the design.
1700
01:29:24.360 --> 01:29:24.420
Uh,
1701
01:29:25.641 --> 01:29:28.763
And then the design starts getting built by the dev team.
1702
01:29:28.783 --> 01:29:38.049
Then the dev team should periodically on a probably every two week or less cadence, depending on the project demo to a small group, what's been built so far.
1703
01:29:38.469 --> 01:29:39.970
That's when you get asked questions.
1704
01:29:40.570 --> 01:29:42.372
That's when you get to make sure things are on track.
1705
01:29:42.392 --> 01:29:45.493
That's when it's like, yeah, you're not the smartest guy on this topic.
1706
01:29:45.534 --> 01:29:46.274
That's totally cool.
1707
01:29:46.334 --> 01:29:48.195
You are the business intelligence.
1708
01:29:48.535 --> 01:29:51.717
You are the best understander of the franchisee.
1709
01:29:51.737 --> 01:29:53.879
You're the best understander of the, uh,
1710
01:29:54.559 --> 01:29:57.283
It's a weird phrasing, but you really understand the franchisee.
1711
01:29:57.303 --> 01:29:58.725
You really understand the buyer.
1712
01:29:58.785 --> 01:29:59.847
You are that person.
1713
01:30:00.227 --> 01:30:04.133
So you have this level of knowledge that they can't possibly have.
1714
01:30:04.233 --> 01:30:06.416
No negative on them whatsoever.
1715
01:30:06.456 --> 01:30:10.061
So there does need to be an element of your involvement.
1716
01:30:10.742 --> 01:30:15.006
Because this is where I think service autopilot started making some mistakes.
1717
01:30:15.046 --> 01:30:17.368
And in other businesses, I've got the same thing.
1718
01:30:17.628 --> 01:30:18.989
Like you're very involved.
1719
01:30:19.309 --> 01:30:20.791
Then the business starts to scale.
1720
01:30:21.071 --> 01:30:22.392
You're working on other things.
1721
01:30:22.993 --> 01:30:24.554
And everything's still going.
1722
01:30:24.734 --> 01:30:25.695
Everything's still growing.
1723
01:30:26.195 --> 01:30:27.436
But you weren't...
1724
01:30:28.137 --> 01:30:39.306
Like that level of knowledge, these conversations convey training and knowledge to the team where they really understand the customer, what the customer is worried about, what the customer needs.
1725
01:30:39.806 --> 01:30:45.831
There's just expertise that you're going to have that unless you're still having conversations, it doesn't get transferred.
1726
01:30:45.971 --> 01:30:50.034
And then you're going to have some of the best questions, even though you don't technically know how to do it.
1727
01:30:50.254 --> 01:30:52.195
So just you can solve part of that through demos.
1728
01:30:52.516 --> 01:30:53.156
Does that make sense?
1729
01:30:53.697 --> 01:30:53.897
Mm-hmm.
1730
01:30:54.297 --> 01:30:54.757
That resonate?
1731
01:30:54.977 --> 01:30:55.217
Okay.
1732
01:30:55.437 --> 01:30:55.657
Yep.
1733
01:30:55.697 --> 01:31:01.119
So I would tell you, be careful not to say, oh, I'm not the technical guy.
1734
01:31:01.159 --> 01:31:01.699
I don't know.
1735
01:31:01.719 --> 01:31:06.541
They just need to go do this thing and say, therefore, I don't need to be involved.
1736
01:31:06.601 --> 01:31:13.983
You should still have some involvement because these things can get off track and you could be shocked at what you end up getting delivered.
1737
01:31:14.623 --> 01:31:18.184
simply because you didn't have a cadence of these demo days or meetings.
1738
01:31:18.564 --> 01:31:19.324
That'd be number one.
1739
01:31:19.705 --> 01:31:25.186
The second thing is I think the swarm concept is the way you run the business as it gets bigger.
1740
01:31:25.246 --> 01:31:38.210
So if your different businesses are having surfacing issues and those issues are getting stacked ranked, I think your role as you get bigger is you're a coach.
1741
01:31:38.870 --> 01:31:45.016
And a lot of coaching happens by getting involved when things are, when there's a big hard thing that gets, that needs to get solved.
1742
01:31:45.356 --> 01:31:51.261
So I think this idea that you can float, it's like the issues are getting service, uh, surfaced across the business.
1743
01:31:51.662 --> 01:31:57.487
And the biggest issues are the ones you jump into for a moment of time and you help that group and then you're back out.
1744
01:31:57.847 --> 01:32:01.009
And that's, and I think that's really valuable.
1745
01:32:01.390 --> 01:32:03.271
And then, so that's like part A.
1746
01:32:03.411 --> 01:32:07.094
Part B is there's other areas where stuff may not get surfaced.
1747
01:32:07.474 --> 01:32:17.762
But if you don't have a cadence to check on it, even if you have a really strong ops leader, because you're the visionary of the business, if you're like, there could come a day you stop checking on onboarding.
1748
01:32:17.882 --> 01:32:23.428
or you stop checking on what's going on in customer service because you've got a great leader there, I think that's a mistake.
1749
01:32:23.848 --> 01:32:33.858
And so as you think about where you allocate your time, I think you're still periodically allocating your time to certain parts of the business, even though there's not some big brewing problem you have to be in.
1750
01:32:34.058 --> 01:32:35.960
You just make yourself go kind of check on it.
1751
01:32:36.180 --> 01:32:40.082
It keeps you in the loop on the business and keeps your finger on the pulse of the business.
1752
01:32:40.122 --> 01:32:42.343
But also, I think it does another thing.
1753
01:32:42.463 --> 01:32:43.643
It tells that part of the business.
1754
01:32:43.663 --> 01:32:45.504
Like customer service is the perfect example.
1755
01:32:46.184 --> 01:32:50.486
I actually think I dropped the ball here in Service Autopilot.
1756
01:32:51.547 --> 01:32:55.868
I wish I had spent more time just sitting in that room with them as the thing got bigger.
1757
01:32:55.888 --> 01:32:59.210
Like in the room versus them coming to a conference room.
1758
01:32:59.590 --> 01:33:02.632
where they felt like I was really paying attention at a closer level.
1759
01:33:02.652 --> 01:33:04.093
I wish John had done more of that too.
1760
01:33:04.713 --> 01:33:05.694
It's not that we ignored them.
1761
01:33:05.714 --> 01:33:07.015
It's just like we could have done way better.
1762
01:33:07.075 --> 01:33:13.539
So that sends a really powerful message as a leader to be involved in the different parts of the business.
1763
01:33:14.099 --> 01:33:23.525
For almost a year in Service Autopilot, I moved out of my office and I sat with the onboarding training and writing team and sales team, like in a big area.
1764
01:33:23.865 --> 01:33:26.147
I thought it sent a message and I wanted to hear what was going on.
1765
01:33:26.947 --> 01:33:30.010
And so like, there's lots of ways to have this conversation.
1766
01:33:30.050 --> 01:33:32.452
Like there's that, that you keep on your schedule.
1767
01:33:32.512 --> 01:33:34.053
And then there's the surfacing of issues.
1768
01:33:34.414 --> 01:33:36.175
This is what I think Elon Musk does.
1769
01:33:36.535 --> 01:33:37.757
I think that's his, his model.
1770
01:33:38.077 --> 01:33:43.321
He just swarms to the biggest problem in the business and he jumps in co-works with the team and then he moves on.
1771
01:33:43.682 --> 01:33:46.404
And I think that accomplishes a lot more than just solving a problem.
1772
01:33:47.985 --> 01:33:49.527
Did I answer what you were asking?
1773
01:33:49.947 --> 01:33:50.888
Yeah, it was great.
1774
01:33:50.968 --> 01:33:52.149
I got lots of things to do.
1775
01:33:52.189 --> 01:33:59.976
I think the one part that probably hit me the hardest or I'm going to have to think about, because everything you said was I will take action on.
1776
01:34:00.376 --> 01:34:04.340
The one part is you said not doing the coaching thing.
1777
01:34:04.640 --> 01:34:05.300
I agree.
1778
01:34:05.420 --> 01:34:07.863
I think the part that is pulling me in the other direction is
1779
01:34:08.523 --> 01:34:16.791
is I feel like the owners at Augusta, a lot of them are outgrowing a lot of the systems that got them to a million dollars and they're failing in leadership.
1780
01:34:16.872 --> 01:34:23.438
Like that talent acquisition, like the elements outside of the business, even like health stuff and like other elements.
1781
01:34:23.638 --> 01:34:26.982
And I'm trying to figure out a way if I can help them.
1782
01:34:27.002 --> 01:34:27.322
Go ahead.
1783
01:34:28.423 --> 01:34:32.065
I think it's different for your, I think of your franchisees as your team members.
1784
01:34:32.586 --> 01:34:34.807
I can think of where you might argue against a few points here.
1785
01:34:35.227 --> 01:34:42.212
I'm saying that you aren't building this big, broader coaching organization across the industry.
1786
01:34:42.892 --> 01:34:43.173
Oh, okay.
1787
01:34:43.193 --> 01:34:44.573
Because it will take a lot from you.
1788
01:34:44.834 --> 01:34:46.235
That's what I thought you were saying.
1789
01:34:46.455 --> 01:34:46.695
Oh, yeah.
1790
01:34:46.715 --> 01:34:54.460
No, this would be like more like maybe I could allocate an hour of my time a week to really getting the next level for the owners.
1791
01:34:54.660 --> 01:34:55.220
I'm glad you.
1792
01:34:55.240 --> 01:34:55.861
Okay.
1793
01:34:55.881 --> 01:34:56.081
Okay.
1794
01:34:56.361 --> 01:34:57.661
I'm really glad you brought this back up.
1795
01:34:57.681 --> 01:34:59.102
That is not what I was talking.
1796
01:34:59.922 --> 01:35:00.982
That to me is a no-brainer.
1797
01:35:01.942 --> 01:35:11.385
I believe as you become a more senior leader inside an organization, your predominant job is getting the right people on the team and coaching people and getting the wrong people off the team.
1798
01:35:11.425 --> 01:35:12.725
Your job is to grow people.
1799
01:35:13.105 --> 01:35:15.246
When I sold Service Autopilot, I went to the office every day
1800
01:35:17.327 --> 01:35:20.090
I worked a full day, I did all the stuff.
1801
01:35:20.610 --> 01:35:31.582
And then whenever I was done, meaning I sold the business and I could stop doing anything I wanted to stop doing, I realized how much of my day was not actually spent doing any service help.
1802
01:35:31.802 --> 01:35:38.949
It was coaching the team, working with the team, talking to team members about personal stuff that they were asking me questions about.
1803
01:35:39.830 --> 01:35:45.214
And I think that's what makes a person feel very different about an organization and wants to be at your organization.
1804
01:35:45.534 --> 01:35:49.197
So I think about your franchisees as your team members.
1805
01:35:49.237 --> 01:35:50.658
Like you're all in this thing together.
1806
01:35:50.978 --> 01:35:51.918
You got to grow them.
1807
01:35:52.219 --> 01:35:54.100
Like I would want to grow my COO.
1808
01:35:54.160 --> 01:35:57.782
I'd want to grow my head of customer service, of onboarding.
1809
01:35:57.822 --> 01:36:00.144
I want to grow them, give them more skills.
1810
01:36:00.544 --> 01:36:02.265
So whatever you, I would invest in them.
1811
01:36:02.506 --> 01:36:03.807
Franchisees are exact same thing.
1812
01:36:03.867 --> 01:36:05.668
Whatever you got to do to invest in them, you do that.
1813
01:36:05.988 --> 01:36:06.928
That's how you grow this business.
1814
01:36:06.988 --> 01:36:08.049
It's so frustrating.
1815
01:36:08.169 --> 01:36:11.510
Probably my biggest frustration this year has been seeing them hit roadblocks.
1816
01:36:11.570 --> 01:36:16.612
I know I have nothing to do with the business or they're entrepreneurial.
1817
01:36:16.732 --> 01:36:34.118
It's just like outside life, like stress stuff, like out of whack diets, like things that were, I feel like, can I just get these people aside from people that need the tactics around door hangers and running your ads and get them aside and kind of almost like an academy situation, a little bit more on non-business.
1818
01:36:34.258 --> 01:36:35.019
Yeah, so.
1819
01:36:36.545 --> 01:36:38.526
This is an uphill battle right here.
1820
01:36:38.566 --> 01:36:40.546
We used to do a...
1821
01:36:40.706 --> 01:36:43.607
I think it was like a monthly lunch and learn, and we talked about all these things.
1822
01:36:43.907 --> 01:36:45.148
Like we did the health thing.
1823
01:36:45.168 --> 01:36:46.228
We did the finance thing.
1824
01:36:46.408 --> 01:36:49.089
You had to be a little careful on the finance thing because you're an employer.
1825
01:36:49.109 --> 01:36:50.069
You got to be a little...
1826
01:36:50.129 --> 01:36:50.769
But we did all...
1827
01:36:50.829 --> 01:36:52.750
It's like some people are receptive to it.
1828
01:36:52.770 --> 01:36:53.670
A lot of people aren't.
1829
01:36:53.730 --> 01:36:54.791
I don't know how to change them.
1830
01:36:55.051 --> 01:36:59.212
And I think that's team members and franchisees will kind of be like...
1831
01:36:59.972 --> 01:37:02.613
the same, like you'll, this, you're going to have the same problem with both groups.
1832
01:37:02.653 --> 01:37:06.513
And so some people are going to be rock stars and some are not.
1833
01:37:06.633 --> 01:37:19.476
And it just, they're just going to have to arrive at a place in life when they finally decide by looking at other franchisees that are living a certain way that, wow, look at the results they give, or they get to a place where they're so frustrated with the life they're living, they're ready to make change.
1834
01:37:19.596 --> 01:37:22.797
And so all you can do is keep showing up, having the conversation.
1835
01:37:23.557 --> 01:37:32.740
And one of the ways I like that, I think when you alluded to Academy is I think where we got a lot of the value in Academy was getting everybody together.
1836
01:37:32.760 --> 01:37:34.361
I don't know if you kind of alluded to that.
1837
01:37:34.401 --> 01:37:39.563
So how can you have, I think you do stuff like this already, but, and I don't know what you're experiencing, but.
1838
01:37:40.443 --> 01:37:46.108
I think there's magic in getting the people together and they become friends.
1839
01:37:46.388 --> 01:37:50.191
And so it's less about Mike delivering the messaging.
1840
01:37:50.231 --> 01:38:00.240
And eventually it's, you know, two guys on your, within your world talking to each other via text or whether they're being challenged directly.
1841
01:38:00.460 --> 01:38:07.823
And they're growing themselves and they're excited about doing new things because they see what the other people that they've become friends with and they respect are doing.
1842
01:38:08.183 --> 01:38:14.986
And so it's constantly about you, I think, setting the example and then teaching, but you've got to bring them all together.
1843
01:38:15.566 --> 01:38:21.209
That's what I would – I think you're doing that, but that's how I would – that's what I think worked best in Academy.
1844
01:38:21.909 --> 01:38:23.409
So how can you get them together more often?
1845
01:38:23.429 --> 01:38:24.410
Yeah, absolutely.
1846
01:38:25.103 --> 01:38:25.804
Well, thank you.
1847
01:38:25.824 --> 01:38:30.795
I have one, two, three, four, five, six, seven things I'll be doing here next week.
1848
01:38:30.855 --> 01:38:32.718
So it's too much.
1849
01:38:32.879 --> 01:38:34.001
It's a journey over time.
1850
01:38:34.998 --> 01:38:35.238
All right.
1851
01:38:35.318 --> 01:38:36.279
Non-financial advice.
1852
01:38:36.299 --> 01:38:37.119
Did you come prepared?
1853
01:38:37.460 --> 01:38:37.820
I came.
1854
01:38:38.160 --> 01:38:38.861
Yeah, yeah.
1855
01:38:39.041 --> 01:38:40.462
Oh, let's go.
1856
01:38:40.662 --> 01:38:44.184
I actually did a little data work to come up with this one.
1857
01:38:44.684 --> 01:38:47.006
I have non-financial financial advice.
1858
01:38:47.767 --> 01:38:48.667
I have financial advice.
1859
01:38:48.807 --> 01:38:49.428
Okay, all right.
1860
01:38:49.448 --> 01:38:49.808
Go ahead.
1861
01:38:50.348 --> 01:38:52.189
This SpaceX IPO thing, man.
1862
01:38:52.350 --> 01:38:53.350
Oh, man, that was mine.
1863
01:38:53.650 --> 01:38:55.051
I have it written down right here.
1864
01:38:55.071 --> 01:38:55.552
Okay.
1865
01:38:58.319 --> 01:39:03.803
So I did invest in the SpaceX IPO.
1866
01:39:03.843 --> 01:39:06.045
I said I was not going to, but I only did it.
1867
01:39:06.105 --> 01:39:07.446
It's like a couple hundred grand.
1868
01:39:07.466 --> 01:39:08.547
It's like, there's nothing.
1869
01:39:08.707 --> 01:39:12.991
I was going to slide it in earlier when you mentioned like having, like you could be more risky.
1870
01:39:13.011 --> 01:39:16.673
I was like, you could have invested in the SpaceX IPO, but sure enough, you did.
1871
01:39:17.174 --> 01:39:17.894
Give me this guy.
1872
01:39:18.014 --> 01:39:18.475
Yeah, yeah.
1873
01:39:18.495 --> 01:39:19.876
But this is not- You teach a dog new tricks.
1874
01:39:20.296 --> 01:39:22.958
Well, and I barely put any money in it.
1875
01:39:22.998 --> 01:39:23.819
I took no risk.
1876
01:39:24.339 --> 01:39:27.442
And I sold it on the open.
1877
01:39:27.722 --> 01:39:30.445
So I bought it 135 and sold it 150.
1878
01:39:31.246 --> 01:39:31.767
Oh, really?
1879
01:39:32.067 --> 01:39:33.389
Yeah.
1880
01:39:33.449 --> 01:39:34.570
You didn't wait until like 230.
1881
01:39:34.591 --> 01:39:35.051
It's crazy.
1882
01:39:37.256 --> 01:39:40.698
Well, I had just given instructions that I don't want to hold the investment.
1883
01:39:40.718 --> 01:39:42.359
So I thought maybe they sell at the end of the day.
1884
01:39:42.379 --> 01:39:43.340
They sold at the open.
1885
01:39:43.840 --> 01:39:44.180
Wow.
1886
01:39:44.200 --> 01:39:44.881
So anyway.
1887
01:39:44.901 --> 01:39:46.042
It shot up.
1888
01:39:46.462 --> 01:39:48.003
Such a – but whatever.
1889
01:39:49.023 --> 01:39:51.385
Here's the – but that's – it is annoying.
1890
01:39:51.925 --> 01:39:53.366
I will tell you it is annoying.
1891
01:39:54.587 --> 01:39:59.030
But I never – the IPO does not make any sense to me.
1892
01:39:59.150 --> 01:40:04.153
But that doesn't – it doesn't have to make sense because Tesla, Elon Musk stuff doesn't make sense.
1893
01:40:05.274 --> 01:40:08.736
But I do want to say a couple of things about this.
1894
01:40:09.377 --> 01:40:11.278
I don't know if anybody's ever thought about it this way.
1895
01:40:11.439 --> 01:40:12.680
And I just want to make a few points.
1896
01:40:12.700 --> 01:40:14.861
This is why I was not a fan of the IPO.
1897
01:40:15.202 --> 01:40:22.648
I am so glad that they're not letting SpaceX onto the S&P 500 index for a year because I would be very nervous.
1898
01:40:23.228 --> 01:40:23.448
All right.
1899
01:40:23.769 --> 01:40:23.989
So...
1900
01:40:24.869 --> 01:40:26.550
Is NASDAQ allowing them?
1901
01:40:26.570 --> 01:40:28.792
They're letting them, yeah, they're letting them faster.
1902
01:40:28.812 --> 01:40:30.033
I think it's really fast.
1903
01:40:30.333 --> 01:40:30.973
Really fast, yeah.
1904
01:40:31.193 --> 01:40:34.656
Okay, so let me give you a couple, let me give you analogy.
1905
01:40:35.796 --> 01:40:37.097
I'm gonna give you a couple analogies.
1906
01:40:37.197 --> 01:40:39.979
And I did some research yesterday to put these numbers together.
1907
01:40:40.319 --> 01:40:40.539
Okay.
1908
01:40:40.579 --> 01:40:44.562
All right, if city turf was valued like SpaceX-
1909
01:40:45.022 --> 01:40:45.923
Oh, yeah, this is fun.
1910
01:40:46.183 --> 01:40:47.985
I did the same thing.
1911
01:40:48.025 --> 01:40:49.786
Weed for $2.7 billion.
1912
01:40:50.046 --> 01:40:50.707
Let's go.
1913
01:40:50.727 --> 01:40:53.909
Based on revenue or I guess revenue because they don't have any profits.
1914
01:40:53.929 --> 01:40:55.791
They're both based on revenue, yeah.
1915
01:40:55.811 --> 01:40:57.332
So Weed for $2.7 billion.
1916
01:40:57.352 --> 01:40:57.712
That's how.
1917
01:40:58.773 --> 01:40:59.533
Crazy this is.
1918
01:40:59.553 --> 01:41:02.435
Now I understand city turf doesn't matter to the future of humanity.
1919
01:41:02.675 --> 01:41:05.796
You really got to work on your messaging, bro.
1920
01:41:05.856 --> 01:41:06.877
Come on.
1921
01:41:07.337 --> 01:41:10.158
We're going to do a trillion dollars in the next five years.
1922
01:41:10.258 --> 01:41:10.918
So anyway.
1923
01:41:10.938 --> 01:41:11.439
All right.
1924
01:41:11.519 --> 01:41:13.640
But here's, I'm going to give a couple more stats like that.
1925
01:41:13.660 --> 01:41:16.701
But let me, this is something I theorize a lot.
1926
01:41:16.741 --> 01:41:17.721
So I did a little research.
1927
01:41:17.741 --> 01:41:20.823
It does seem, my theory was retail investors are driving this.
1928
01:41:21.243 --> 01:41:22.263
more than institutional.
1929
01:41:22.503 --> 01:41:22.964
And it is.
1930
01:41:23.404 --> 01:41:28.985
So I have this theory because I've talked to several people that have asked me if I'm going to invest in the IPO.
1931
01:41:29.346 --> 01:41:32.647
And I'm like, no, I'm not really into IPOs because 70% of the time they're down.
1932
01:41:32.907 --> 01:41:36.528
And when the lockup comes, and there's some crazy ones on this one.
1933
01:41:36.908 --> 01:41:37.268
Yeah.
1934
01:41:37.568 --> 01:41:37.848
Okay.
1935
01:41:37.928 --> 01:41:47.751
So I theorize that a lot of people will think like, hey, if I had invested in Google or Amazon or whatever, I'd be rich today.
1936
01:41:48.071 --> 01:41:49.652
So I don't want to miss out on SpaceX.
1937
01:41:50.572 --> 01:41:53.654
And the point I want to make is this one.
1938
01:41:53.894 --> 01:41:59.317
Okay, if you'd invested in Google, you would have been investing at a $27 billion valuation.
1939
01:41:59.537 --> 01:42:00.617
That's how much the company was.
1940
01:42:00.937 --> 01:42:07.221
So you would have 167 X'd your investment to get to become rich because you invested in Google.
1941
01:42:07.521 --> 01:42:12.903
If you're investing at SpaceX, I haven't looked at SpaceX today, but as of yesterday, I think it was worth around $2.8 trillion.
1942
01:42:13.644 --> 01:42:17.106
So if you were to get rich, like investing in Google,
1943
01:42:17.906 --> 01:42:24.369
To make that happen, SpaceX has to become worth one half of a quadrillion dollars to get the same return on your money.
1944
01:42:24.669 --> 01:42:25.049
Let's go.
1945
01:42:25.069 --> 01:42:26.030
A quadrillion.
1946
01:42:26.610 --> 01:42:28.591
500 quadrillion.
1947
01:42:28.671 --> 01:42:28.971
Okay.
1948
01:42:29.011 --> 01:42:33.433
So I think people imagine that it's going to – that they could get that.
1949
01:42:33.553 --> 01:42:35.114
It's like the math can't even work.
1950
01:42:35.574 --> 01:42:44.999
I'm just hoping when we go public in about 10 years, I'm just hoping the current like ideas around going IPO is something like that then because it's always up and down, right?
1951
01:42:45.019 --> 01:42:47.060
Like three years ago, you did not want to go public.
1952
01:42:47.421 --> 01:42:54.885
Now, my goodness, the stage is set for Anthropic and OpenAI and it's even Stripe and all these other companies.
1953
01:42:55.325 --> 01:42:56.225
But it's crazy.
1954
01:42:56.266 --> 01:42:57.906
Let me give you two more numbers.
1955
01:42:58.247 --> 01:42:58.767
Okay, okay.
1956
01:42:59.067 --> 01:42:59.307
All right.
1957
01:42:59.347 --> 01:43:01.289
That just like, this is like nothing else.
1958
01:43:01.709 --> 01:43:07.553
So I, so I'm like, well, it's clearly the Elon Musk premium, which go ahead.
1959
01:43:07.693 --> 01:43:07.894
Sorry.
1960
01:43:07.934 --> 01:43:09.555
I have a question just for the audience.
1961
01:43:09.575 --> 01:43:10.816
Cause they're going to want to figure this out.
1962
01:43:10.856 --> 01:43:11.897
What's the revenue multiple?
1963
01:43:11.997 --> 01:43:13.157
Do you remember off the top of your head?
1964
01:43:13.177 --> 01:43:14.118
150 times revenue.
1965
01:43:15.419 --> 01:43:16.179
150, I don't get it.
1966
01:43:16.259 --> 01:43:16.900
All right, cool.
1967
01:43:16.940 --> 01:43:20.101
So for anyone watching, just take your revenue, multiply 150, and that's your valuation.
1968
01:43:20.121 --> 01:43:20.682
Yeah, that's accessible.
1969
01:43:20.702 --> 01:43:22.062
So SpaceX- I'm your longer business.
1970
01:43:22.423 --> 01:43:23.643
Yeah, yeah.
1971
01:43:23.663 --> 01:43:29.086
So SpaceX did like 18 billion, 19 billion in revenue times 150.
1972
01:43:29.126 --> 01:43:30.447
That's how you get the multiple, okay?
1973
01:43:30.467 --> 01:43:30.807
Let's get it.
1974
01:43:30.827 --> 01:43:31.307
All right.
1975
01:43:31.327 --> 01:43:35.691
So then you're like, okay, well, it's the Elon Musk premium.
1976
01:43:36.991 --> 01:43:41.675
And it is, except the premium on Tesla is only 13 times revenue.
1977
01:43:41.715 --> 01:43:42.335
Think about that.
1978
01:43:42.475 --> 01:43:45.097
So Tesla does almost $100 billion.
1979
01:43:45.257 --> 01:43:46.999
They're valued at $1.2 trillion.
1980
01:43:47.279 --> 01:43:48.620
I think these numbers are pretty close.
1981
01:43:49.060 --> 01:43:54.504
And SpaceX does $18 billion and is valued at well over double what Tesla.
1982
01:43:54.584 --> 01:43:56.666
So that's probably going to buy out Tesla.
1983
01:43:58.667 --> 01:43:59.328
Probably, yeah.
1984
01:43:59.509 --> 01:44:00.190
And now's the time.
1985
01:44:00.230 --> 01:44:02.455
If he could buy Tesla right now at this valuation.
1986
01:44:02.935 --> 01:44:03.957
He'll get his control back.
1987
01:44:03.977 --> 01:44:05.120
He'll get control back of Tesla.
1988
01:44:05.545 --> 01:44:05.685
Yeah.
1989
01:44:05.765 --> 01:44:07.207
And then I'll give one more.
1990
01:44:07.247 --> 01:44:08.107
This is my last one.
1991
01:44:08.608 --> 01:44:15.314
So Cisco, I was in my early 20s during the 90s, the dot-com boom and bust.
1992
01:44:16.115 --> 01:44:21.780
And Cisco was the poster child of insanity in the stock market.
1993
01:44:22.080 --> 01:44:29.907
And then when Cisco crashed, it took 25 years for their price in 2000 or 1999 to get back to where they were.
1994
01:44:30.067 --> 01:44:31.689
They were valued at 46 times revenue.
1995
01:44:31.989 --> 01:44:34.570
And Tesla and SpaceX is valued at 150.
1996
01:44:34.690 --> 01:44:36.571
It's beyond comprehension.
1997
01:44:36.871 --> 01:44:40.033
So this is why I was scared of it going into it.
1998
01:44:40.673 --> 01:44:42.414
And I thought, you know, it is Elon Musk.
1999
01:44:42.454 --> 01:44:43.734
This could go really good.
2000
01:44:44.235 --> 01:44:45.715
But I just, I'm not a gambler.
2001
01:44:45.795 --> 01:44:47.776
I don't go to, I don't gamble in Vegas.
2002
01:44:47.856 --> 01:44:48.917
I don't bet on things.
2003
01:44:49.237 --> 01:44:50.878
I just, it's not who I am.
2004
01:44:50.938 --> 01:44:52.959
So that's why I had a hard time buying the IPO.
2005
01:44:53.239 --> 01:44:55.300
So when I had an opportunity to sell immediately,
2006
01:44:56.562 --> 01:45:00.083
Like when I had to put in my order, we didn't know yet how well orders were going to do.
2007
01:45:00.863 --> 01:45:03.643
And, you know, so it still felt like gambling.
2008
01:45:03.663 --> 01:45:04.624
So I hardly put any money on it.
2009
01:45:05.184 --> 01:45:06.784
Anyway, a lot of information.
2010
01:45:07.064 --> 01:45:12.385
One thing I thought was interesting was the revenue from X is basically halved.
2011
01:45:12.585 --> 01:45:14.866
And so he's basically spun.
2012
01:45:15.006 --> 01:45:16.906
That's now in SpaceX, essentially.
2013
01:45:17.546 --> 01:45:20.167
But he won't look like he has an L there.
2014
01:45:20.387 --> 01:45:21.987
Like most people, if you buy a business...
2015
01:45:22.487 --> 01:45:44.284
at a premium like 40 billion dollars and then revenue halves over the course of four or five years that's an l but this is not going to be an l because it's wrapped up into spacex so there is nobody like this guy it's unbelievable like crazy it's unbelievable he's so good at what he does my non-financial advice was to not buy spacex um
2016
01:45:46.025 --> 01:45:49.989
I think the lockups are going to absolutely obliterate this very low float.
2017
01:45:50.149 --> 01:45:52.751
Only 5% of shares are for the public market.
2018
01:45:52.791 --> 01:45:53.792
I think it's 3%.
2019
01:45:53.872 --> 01:45:54.613
Is it 3?
2020
01:45:54.913 --> 01:45:55.534
I think it's 3.
2021
01:45:56.154 --> 01:45:57.035
You should double check me.
2022
01:45:57.055 --> 01:45:57.956
You might be right at 5.
2023
01:45:58.737 --> 01:46:01.859
I have been listening to a couple of things, and I thought they said 3.
2024
01:46:01.900 --> 01:46:02.100
Okay.
2025
01:46:02.260 --> 01:46:02.540
All right.
2026
01:46:02.740 --> 01:46:04.842
So we're going to end on this.
2027
01:46:04.862 --> 01:46:06.123
365 days from now, it'll be June 17, 2027.
2028
01:46:10.347 --> 01:46:10.567
All right.
2029
01:46:10.847 --> 01:46:15.930
We both got to figure out or come up with what our prediction for the stock price is going to be.
2030
01:46:16.250 --> 01:46:18.852
And then we'll revisit this in a year and see who's close.
2031
01:46:18.872 --> 01:46:19.112
Okay.
2032
01:46:19.172 --> 01:46:20.232
What is the stock price now?
2033
01:46:21.253 --> 01:46:22.954
It's like $2.15 this morning.
2034
01:46:23.294 --> 01:46:23.874
I'll let you look.
2035
01:46:24.015 --> 01:46:25.455
I don't, yeah, I can't get to it on my computer.
2036
01:46:25.715 --> 01:46:30.038
So yesterday it was probably over $200 to get to $2.8 trillion.
2037
01:46:30.778 --> 01:46:32.279
Just for the record, $195.
2038
01:46:32.819 --> 01:46:33.420
Okay.
2039
01:46:33.440 --> 01:46:33.800
$195.
2040
01:46:34.120 --> 01:46:34.700
What's the market?
2041
01:46:34.720 --> 01:46:35.941
Can you see the market cap on there?
2042
01:46:36.388 --> 01:46:40.674
Yeah, market cap right now is $2.53 trillion.
2043
01:46:40.694 --> 01:46:41.034
$2.5.
2044
01:46:41.135 --> 01:46:43.238
Yeah, I just want to highlight.
2045
01:46:43.258 --> 01:46:48.945
I just want to highlight that you could have been 30% up on your money if you just want to hold a few more days.
2046
01:46:48.965 --> 01:46:51.549
Yeah, thanks for that.
2047
01:46:51.569 --> 01:46:53.211
Trust me, I already think about it.
2048
01:46:53.231 --> 01:46:53.712
It's like...
2049
01:46:55.013 --> 01:46:55.753
I already think about it.
2050
01:46:55.813 --> 01:46:56.634
I don't need to think about it.
2051
01:46:57.134 --> 01:47:03.878
Okay, so currently $2.53 trillion market cap, and the stock price is $195.
2052
01:47:05.038 --> 01:47:09.320
It hit an all-time high of $130.
2053
01:47:09.721 --> 01:47:12.042
Well, $135 was the entry price.
2054
01:47:12.222 --> 01:47:13.002
Sorry, I apologize.
2055
01:47:13.242 --> 01:47:14.743
Hit a top of $230.
2056
01:47:14.803 --> 01:47:15.724
That was its peak.
2057
01:47:15.744 --> 01:47:16.124
Okay.
2058
01:47:16.904 --> 01:47:17.424
That's crazy.
2059
01:47:17.444 --> 01:47:19.445
That was like it's over three trillion dollars.
2060
01:47:20.085 --> 01:47:22.586
But for today, it's one hundred ninety five dollars.
2061
01:47:23.126 --> 01:47:25.606
Are you doing some sort of discounted cash flow or whatever?
2062
01:47:25.706 --> 01:47:28.447
No, no, no, no.
2063
01:47:28.487 --> 01:47:31.428
So if this happens, if we get to Mars.
2064
01:47:31.648 --> 01:47:32.248
Exactly.
2065
01:47:32.268 --> 01:47:32.788
Yeah.
2066
01:47:32.928 --> 01:47:34.929
No, I was I'm doing very simple math.
2067
01:47:35.229 --> 01:47:36.009
I got my number.
2068
01:47:36.489 --> 01:47:37.849
OK, I got my number.
2069
01:47:38.069 --> 01:47:38.330
Go ahead.
2070
01:47:38.870 --> 01:47:39.670
Ninety seven dollars.
2071
01:47:40.398 --> 01:47:41.278
Ooh.
2072
01:47:41.619 --> 01:47:42.719
So just basically a half.
2073
01:47:42.959 --> 01:47:43.279
Yeah.
2074
01:47:43.299 --> 01:47:47.722
And my logic is that the market cap will be closer to the market cap.
2075
01:47:47.742 --> 01:47:49.522
But dang, they're going to bring in Tesla.
2076
01:47:49.683 --> 01:47:50.803
Dang, that complicates it.
2077
01:47:51.523 --> 01:47:51.864
Ooh.
2078
01:47:51.884 --> 01:47:52.564
Yeah, you're tough.
2079
01:47:52.664 --> 01:47:57.706
Okay, let's assume they do bring in Tesla, which is right now 1.4, 1.5 trillion.
2080
01:47:57.726 --> 01:47:58.407
1.3 trillion.
2081
01:47:58.967 --> 01:47:59.227
Really?
2082
01:47:59.247 --> 01:47:59.447
Yeah.
2083
01:47:59.888 --> 01:48:00.808
Ooh, that complicates this.
2084
01:48:00.848 --> 01:48:01.768
That's harder math.
2085
01:48:03.429 --> 01:48:05.130
Man, now they're making it difficult on us.
2086
01:48:05.150 --> 01:48:05.971
You can't just tell them.
2087
01:48:05.991 --> 01:48:06.111
It is.
2088
01:48:06.391 --> 01:48:07.931
See, I thought 50% discount.
2089
01:48:07.951 --> 01:48:08.692
That's what I'm thinking.
2090
01:48:09.079 --> 01:48:20.239
Yeah, I was thinking it was going to get valued closer to Tesla, which would still be an extreme valuation because the revenue is 20% of Tesla's revenue.
2091
01:48:20.259 --> 01:48:20.500
Yeah.
2092
01:48:21.055 --> 01:48:24.297
And Tesla is a really exciting story, too, because that's the robot story.
2093
01:48:24.317 --> 01:48:24.617
Robots.
2094
01:48:24.937 --> 01:48:25.117
Yeah.
2095
01:48:25.578 --> 01:48:29.900
So I think the robot story is like way better than the space story.
2096
01:48:30.220 --> 01:48:31.161
Oh, my goodness.
2097
01:48:31.701 --> 01:48:32.422
In the near term.
2098
01:48:32.442 --> 01:48:35.964
The prospectus for the IPO was so hilarious.
2099
01:48:36.384 --> 01:48:39.986
Like you could have literally ripped that out of a cartoon book and been like, here.
2100
01:48:40.186 --> 01:48:41.987
And then you're like, oh, Elon said this.
2101
01:48:42.107 --> 01:48:42.948
Definitely going to happen.
2102
01:48:43.970 --> 01:48:46.253
I was listening to a podcast I like quite a bit.
2103
01:48:46.273 --> 01:48:49.295
It's called Compound and Friends, and it's a financial show.
2104
01:48:49.696 --> 01:48:52.959
And they were saying on the show – I think this is where I got my 3% float from.
2105
01:48:53.239 --> 01:48:56.522
They were saying, man, they were given some example of something Elon just said.
2106
01:48:56.542 --> 01:48:59.505
They're like, if somebody had said this 20 years ago, they'd be in prison.
2107
01:48:59.965 --> 01:49:02.188
This would be a violation of securities law.
2108
01:49:02.288 --> 01:49:02.628
Yeah.
2109
01:49:02.808 --> 01:49:04.329
And he can just do whatever he wants to do.
2110
01:49:04.749 --> 01:49:06.449
He's just such a promoter.
2111
01:49:06.869 --> 01:49:21.955
Anyway, yeah, I was kind of thinking that the valuation would still be really crazy extreme, but it would come down to a market cap closer to the $1 trillion number, which would still be way more highly valued than Tesla.
2112
01:49:22.610 --> 01:49:23.430
Yeah.
2113
01:49:23.450 --> 01:49:24.891
But when you bring Tesla in, I don't know.
2114
01:49:25.311 --> 01:49:31.053
I forget something along the lines of 13 times more shares will be available in one year compared to now.
2115
01:49:31.233 --> 01:49:35.135
So just the amount of supply of the shares on the market.
2116
01:49:35.395 --> 01:49:36.776
Yeah, we'll change everything.
2117
01:49:36.796 --> 01:49:38.116
I think it's going to be half.
2118
01:49:38.576 --> 01:49:40.017
I guess we're right around close.
2119
01:49:40.057 --> 01:49:40.597
That stinks.
2120
01:49:40.997 --> 01:49:43.978
I should have just made up like, we're going to be 400.
2121
01:49:44.219 --> 01:49:48.080
We're going to $7 trillion market cap in a year.
2122
01:49:48.100 --> 01:49:49.801
You know what the problem is?
2123
01:49:50.661 --> 01:49:57.929
I wouldn't want to be a short seller on this thing, even though I feel like 95% confident this thing is going down when the lockup comes out.
2124
01:49:58.330 --> 01:50:02.735
I'd still be scared to be a short seller on it because you have no idea what insanity is going to happen.
2125
01:50:03.175 --> 01:50:04.357
Yeah, man.
2126
01:50:04.377 --> 01:50:07.320
Is that because of Elon or is it because of the technology you think it's going to get there?
2127
01:50:07.821 --> 01:50:08.482
Because of Elon.
2128
01:50:09.123 --> 01:50:12.748
Not because of – I think the – I wouldn't bet against the guy.
2129
01:50:12.768 --> 01:50:16.374
It's just that I think Starlink's a really good business from everything I've heard.
2130
01:50:16.534 --> 01:50:17.335
I mean great business.
2131
01:50:17.456 --> 01:50:19.899
I think he'll figure out the AI thing.
2132
01:50:20.140 --> 01:50:20.440
I do.
2133
01:50:20.520 --> 01:50:21.983
I think I wouldn't bet against him on that.
2134
01:50:22.364 --> 01:50:23.946
He gets cursor at these.
2135
01:50:24.006 --> 01:50:24.406
Yeah.
2136
01:50:24.446 --> 01:50:25.447
I wouldn't know.
2137
01:50:25.907 --> 01:50:28.109
Oh, I wouldn't bet against him at all on those two things.
2138
01:50:28.370 --> 01:50:30.672
It's just that the, and I wouldn't bet against him on space.
2139
01:50:30.712 --> 01:50:35.096
It's just that that is a very long story out into the future.
2140
01:50:35.616 --> 01:50:36.477
And so, um,
2141
01:50:37.618 --> 01:50:43.020
I didn't feel so bad about saying, hey, in eight to 12 years, when we go public, we're going to be focusing on robotic mowers.
2142
01:50:43.080 --> 01:50:46.401
I was like, I feel like somehow I might be undershooting.
2143
01:50:46.761 --> 01:50:49.622
You know, maybe we're going to be mowing it from outer space.
2144
01:50:49.722 --> 01:50:51.743
We're going to be dropping helicopters or something.
2145
01:50:51.763 --> 01:50:54.364
A data center is going to be running it from outer space.
2146
01:50:54.464 --> 01:50:54.924
That's right.
2147
01:50:55.425 --> 01:50:58.826
Command center is going to go to space so we don't pay taxes in Washington state.
2148
01:50:58.886 --> 01:50:59.386
There you go.
2149
01:50:59.566 --> 01:51:06.833
I do think what this teaches you is you need to bring in some kind of a space AI element into your... That's right.
2150
01:51:06.873 --> 01:51:09.395
That was the actual real truth of what you wanted to tell me.
2151
01:51:09.695 --> 01:51:11.057
Yes, that's what you need to do.
2152
01:51:11.777 --> 01:51:12.598
Oh, man.
2153
01:51:12.778 --> 01:51:13.839
So it's fascinating.
2154
01:51:13.919 --> 01:51:14.700
It's amazing stuff.
2155
01:51:14.800 --> 01:51:15.441
I don't know how you...
2156
01:51:15.461 --> 01:51:16.501
There you have it, folks.
2157
01:51:16.582 --> 01:51:18.884
Go out there, pump the stock.
2158
01:51:18.904 --> 01:51:19.885
Put all your money in it.
2159
01:51:20.025 --> 01:51:20.885
All your money into it.
2160
01:51:21.586 --> 01:51:22.327
Let's go.
2161
01:51:22.347 --> 01:51:22.567
Awesome.
2162
01:51:22.587 --> 01:51:23.067
Thank you all.
2163
01:51:23.087 --> 01:51:23.628
Appreciate it.
2164
01:51:24.088 --> 01:51:24.529
See you later.
1
00:00:00.231 --> 00:00:06.055
If CityTurf was valued like SpaceX, we'd be worth $2.7 billion.
2
00:00:06.095 --> 00:00:11.738
For anyone watching, just take your revenue, multiply it 150, and that's your valuation of your lawn care business.
3
00:00:12.579 --> 00:00:19.403
Once you get to a high level of wealth and tax complication and trust complication, like one answer pays for a lot.
4
00:00:19.703 --> 00:00:21.704
I just pulled the data because I was interested.
5
00:00:21.724 --> 00:00:23.345
I pulled a couple of locations close to you.
6
00:00:24.105 --> 00:00:26.026
And we're getting leads for like $10.
7
00:00:26.307 --> 00:00:26.747
And they're good.
8
00:00:27.567 --> 00:00:36.872
I believe as you become a more senior leader inside an organization, your predominant job is getting the right people on the team and coaching people and getting the wrong people off the team.
9
00:00:36.892 --> 00:00:38.353
Like your job is to grow people.
10
00:00:38.793 --> 00:00:40.514
So whatever you, I would invest in them.
11
00:00:40.754 --> 00:00:42.075
Franchisees are exact same thing.
12
00:00:42.115 --> 00:00:43.916
Whatever you got to do to invest in them, you do that.
13
00:00:44.256 --> 00:00:45.357
That's how you grow this business.
14
00:00:45.657 --> 00:00:46.537
Welcome back, everyone.
15
00:00:46.777 --> 00:00:48.218
Another week, another podcast.
16
00:00:48.778 --> 00:00:49.279
Hey, everyone.
17
00:00:49.619 --> 00:00:50.599
We're going to jump right in.
18
00:00:51.159 --> 00:00:53.980
And I got the craziest cold open of the day.
19
00:00:54.441 --> 00:00:55.041
Oh, great.
20
00:00:55.541 --> 00:00:56.642
Yeah.
21
00:00:57.022 --> 00:00:58.202
We're going to do a little bit of everything.
22
00:00:58.282 --> 00:01:03.484
I had like, I was like, you know, I could have these three different cold opens over the next three episodes or just do it all in one.
23
00:01:03.504 --> 00:01:04.385
So we're going to do it all in one.
24
00:01:04.865 --> 00:01:08.707
But we're going to need to keep your answers tight because I have like eight of these.
25
00:01:08.767 --> 00:01:09.267
Okay, so.
26
00:01:09.667 --> 00:01:10.788
First, first tie.
27
00:01:10.928 --> 00:01:12.690
Do you know who you're talking to here?
28
00:01:13.170 --> 00:01:14.672
The first section is just hot takes.
29
00:01:14.752 --> 00:01:16.493
OK, all right.
30
00:01:16.533 --> 00:01:17.134
Hot takes.
31
00:01:17.154 --> 00:01:18.755
Yeah, these are the longer ones.
32
00:01:18.835 --> 00:01:19.416
They're not too hot.
33
00:01:19.436 --> 00:01:19.756
Don't worry.
34
00:01:20.157 --> 00:01:23.600
OK, so the first one, should there be a minimum wage?
35
00:01:24.100 --> 00:01:26.042
And if so, what should it be?
36
00:01:26.422 --> 00:01:30.648
I say no because prices will just rise immediately to minimum wage.
37
00:01:30.668 --> 00:01:31.509
It makes no difference.
38
00:01:32.150 --> 00:01:32.551
I don't know.
39
00:01:33.092 --> 00:01:33.813
That's my, yeah.
40
00:01:34.093 --> 00:01:34.754
There's your hot take?
41
00:01:35.115 --> 00:01:35.435
Okay.
42
00:01:35.475 --> 00:01:42.265
I mean, I think there should be a minimum wage, but I just, the idea that we take it to 25 bucks an hour doesn't, in my opinion, fix the problem.
43
00:01:42.545 --> 00:01:42.725
Right.
44
00:01:43.045 --> 00:01:43.165
Okay.
45
00:01:43.185 --> 00:01:44.006
All right.
46
00:01:44.146 --> 00:01:46.987
If you were the Fed chair, so recently Kevin Warsh just got in.
47
00:01:47.248 --> 00:01:49.649
Today was his first press conference.
48
00:01:50.049 --> 00:01:54.892
But if you were the Fed chair for one year, what would you change with interest rates and how would you do it?
49
00:01:55.132 --> 00:01:55.872
Oh my gosh.
50
00:01:56.593 --> 00:01:57.673
This requires thought.
51
00:01:57.693 --> 00:01:58.954
My first inclination...
52
00:01:59.454 --> 00:02:02.076
My first thought is I wouldn't lower interest rates right now.
53
00:02:02.356 --> 00:02:03.116
Would you increase them?
54
00:02:03.437 --> 00:02:11.522
I would need – you don't want me being the Fed chair, but my answer is I would not change anything right now.
55
00:02:11.682 --> 00:02:16.805
I'd have to get in and understand the data better, but I wouldn't in this moment say I'd raise them either.
56
00:02:17.380 --> 00:02:18.020
No, it's interesting.
57
00:02:18.040 --> 00:02:21.122
I listened to a little bit of his initial press conference.
58
00:02:21.462 --> 00:02:30.687
You can tell they're basically going to redo all the numbers, how inflation is calculated, how unemployment, which probably is necessary, but they're just going to bake the numbers they want to see.
59
00:02:30.707 --> 00:02:31.288
It's going to be great.
60
00:02:31.848 --> 00:02:32.468
I hope not.
61
00:02:32.628 --> 00:02:36.350
But I do understand the argument for updating the numbers.
62
00:02:36.450 --> 00:02:37.871
I've heard some stuff about that over time.
63
00:02:37.891 --> 00:02:40.973
And when I at least when I hear one perspective, it's like, oh, yeah, that makes sense.
64
00:02:41.379 --> 00:02:44.103
Okay, so the next part of the cold open, because that was the first two questions.
65
00:02:44.123 --> 00:02:44.944
Those are hot tips.
66
00:02:45.405 --> 00:02:51.595
This one, I just need one bit of information or one piece of advice for two different business owners.
67
00:02:51.875 --> 00:02:55.841
Okay, so I'm going to express who this is and it needs to be relationship advice.
68
00:02:56.522 --> 00:02:56.783
Okay.
69
00:02:57.303 --> 00:02:59.385
So relationship advice for two different types of entrepreneurs.
70
00:02:59.405 --> 00:03:01.487
The first entrepreneur is a single guy.
71
00:03:01.507 --> 00:03:05.090
His business is doing $400,000 in annual revenue.
72
00:03:05.530 --> 00:03:08.352
He's 22 years old and he's looking for a wife.
73
00:03:08.392 --> 00:03:09.273
So he's currently single.
74
00:03:09.914 --> 00:03:12.096
What piece of advice off the top of your dome is,
75
00:03:12.736 --> 00:03:14.716
Would you give this young man to find a wife?
76
00:03:14.977 --> 00:03:15.157
Yeah.
77
00:03:15.437 --> 00:03:21.898
He's looking for a wife to find them or just general advice at this, this size of business and stage of life.
78
00:03:22.118 --> 00:03:23.158
I don't know what I want to say here.
79
00:03:25.679 --> 00:03:27.219
I feel like you played it pretty well.
80
00:03:27.639 --> 00:03:31.060
Heads down, build through your twenties, then go find a wife.
81
00:03:31.640 --> 00:03:31.880
Okay.
82
00:03:31.900 --> 00:03:35.061
So after like 29, 30, that's when you look for a wife.
83
00:03:35.301 --> 00:03:36.562
It's a dang good strategy.
84
00:03:36.742 --> 00:03:37.782
How old were you when you got married?
85
00:03:38.362 --> 00:03:38.923
Oh, I was 21.
86
00:03:39.023 --> 00:03:39.143
Okay.
87
00:03:40.103 --> 00:03:43.525
It worked for me, but I know other people got married at my age and they got divorced.
88
00:03:43.545 --> 00:03:44.465
How do you do what you want?
89
00:03:44.926 --> 00:03:45.226
Yeah.
90
00:03:45.506 --> 00:03:48.827
And I would not talk somebody out of getting married.
91
00:03:48.847 --> 00:03:50.088
See, this is where we turn in longer.
92
00:03:50.548 --> 00:03:56.831
And so I don't know that I'm really answering your question, but I would just think there's nothing wrong with just building, building.
93
00:03:57.692 --> 00:04:01.954
If you don't already have a girlfriend that could be your wife, I don't think it's imperative to go find one.
94
00:04:02.014 --> 00:04:04.115
If you're really passionate about business, just build the thing.
95
00:04:04.135 --> 00:04:04.235
Yeah.
96
00:04:04.935 --> 00:04:06.695
And worry about that later.
97
00:04:06.755 --> 00:04:08.696
I don't think you have to solve that problem immediately.
98
00:04:08.716 --> 00:04:09.916
But everybody's wired differently.
99
00:04:10.156 --> 00:04:11.756
I started dating Tiffany who was 17.
100
00:04:11.796 --> 00:04:13.457
It just happened to work out that way.
101
00:04:13.577 --> 00:04:16.517
It wasn't a problem I was trying to solve for.
102
00:04:16.797 --> 00:04:17.077
Got it.
103
00:04:17.377 --> 00:04:17.997
I don't think I answered.
104
00:04:18.037 --> 00:04:19.698
Did I answer that the way you?
105
00:04:20.118 --> 00:04:24.479
Down the road, we can do a much longer monologue about the pros, the cons, etc.
106
00:04:25.279 --> 00:04:26.699
I'm pro-marriage.
107
00:04:26.779 --> 00:04:28.299
I am pro-marriage.
108
00:04:28.399 --> 00:04:31.860
But there is no greater opportunity to go all in on building.
109
00:04:32.437 --> 00:04:33.298
Yeah, I get you.
110
00:04:33.318 --> 00:04:33.538
All right.
111
00:04:33.899 --> 00:04:35.721
That leads me to entrepreneur number two.
112
00:04:35.741 --> 00:04:36.141
Okay.
113
00:04:36.442 --> 00:04:38.784
This individual is married.
114
00:04:39.145 --> 00:04:40.326
They're 45 years old.
115
00:04:40.566 --> 00:04:42.869
They have two kids in their early 20s.
116
00:04:43.109 --> 00:04:45.692
They have a business that is $1.2 million in revenue.
117
00:04:46.293 --> 00:04:47.214
It's really profitable.
118
00:04:47.835 --> 00:04:50.277
But there's now stress in the relationship because they've grown apart.
119
00:04:50.498 --> 00:04:52.460
What piece of advice would you give to this entrepreneur?
120
00:04:52.866 --> 00:05:01.234
Questions have to be asked, but I would tell you that at this point, you probably have grown apart because you're living two different lives.
121
00:05:01.274 --> 00:05:02.895
Like maybe she's living the kid life.
122
00:05:02.955 --> 00:05:03.395
I don't know.
123
00:05:03.456 --> 00:05:12.283
This is where you expect you're living the business life and your communications maybe are too much about the business or just too much about the kids, but they're not really...
124
00:05:13.064 --> 00:05:14.324
anything else at this point.
125
00:05:14.744 --> 00:05:23.166
And so it has to be a very concerted effort to stop talking about the business, stop talking about the kids and start talking about other things in life.
126
00:05:23.746 --> 00:05:35.788
Date nights, going on weekend trips together, finding things you can do together, eating dinner together, like all this stuff and maybe therapy, maybe getting somebody to help you work through it.
127
00:05:36.008 --> 00:05:41.809
I've not, we've not done therapy or anything like that, but I have several business friends that have done it and they swear by it.
128
00:05:42.905 --> 00:05:56.771
And so I think there's a connotation around it like something's wrong, but it could just be you're just wanting a facilitator to have the conversations that are hard to start on your own because there's been a distance and a gap for so long.
129
00:05:57.171 --> 00:06:06.355
Like if you go too long with a business partner or a marriage or a spouse or anything and you don't talk about a thing, it's really awkward to ever start the conversation.
130
00:06:06.435 --> 00:06:07.816
It's really awkward to ever –
131
00:06:09.157 --> 00:06:10.058
cut that divide.
132
00:06:10.118 --> 00:06:17.808
And so sometimes just having somebody help you do that is enough to just get the conversation started where both parties feel heard.
133
00:06:18.229 --> 00:06:19.590
So I'd be very intentional.
134
00:06:19.991 --> 00:06:21.313
And those are some of the things I think about.
135
00:06:22.104 --> 00:06:22.444
I love it.
136
00:06:22.604 --> 00:06:24.305
Side note on that topic.
137
00:06:24.425 --> 00:06:30.727
Renee, I think it's Renee, Dan Martell's wife has a YouTube channel, and she did a couple podcasts with the two of them together.
138
00:06:30.987 --> 00:06:31.508
They're really good.
139
00:06:31.888 --> 00:06:32.488
I sound agree.
140
00:06:32.908 --> 00:06:33.248
Yeah, yeah.
141
00:06:33.268 --> 00:06:37.510
So Dan told me, oh, I did a thing with him.
142
00:06:37.870 --> 00:06:39.491
He's from Ireland.
143
00:06:39.711 --> 00:06:40.491
I don't know him or anything.
144
00:06:40.531 --> 00:06:44.093
I met him in 14 through Yannick Silver, a guy, and...
145
00:06:45.393 --> 00:06:46.654
I was really impressed with him.
146
00:06:47.395 --> 00:06:55.123
And then probably like four years ago, Dan told me that he and Renee do a thing with him, I think every year.
147
00:06:55.143 --> 00:06:57.125
And he's like, it's phenomenal.
148
00:06:57.185 --> 00:06:58.466
You've got to go do it with Tiffany.
149
00:06:59.032 --> 00:06:59.872
It was in Ireland.
150
00:06:59.892 --> 00:07:03.714
I think in Ireland, I think, well, I think he bought a castle to do it out of.
151
00:07:03.754 --> 00:07:04.054
Yeah.
152
00:07:04.074 --> 00:07:04.895
He's an interesting guy.
153
00:07:04.915 --> 00:07:06.535
I think he had built a big coffee business.
154
00:07:07.095 --> 00:07:07.476
We did.
155
00:07:07.656 --> 00:07:10.837
I did this thing with him in Aruba, I think.
156
00:07:11.897 --> 00:07:14.078
And anyway, he's great.
157
00:07:14.198 --> 00:07:15.599
I really thought he was really good.
158
00:07:15.619 --> 00:07:17.380
But anyway, I was surprised when Dan's like, Oh yeah.
159
00:07:17.720 --> 00:07:17.780
He,
160
00:07:18.040 --> 00:07:20.261
Renee and I, we work with this guy.
161
00:07:20.341 --> 00:07:21.121
He's fantastic.
162
00:07:21.141 --> 00:07:21.941
And we go to Ireland.
163
00:07:22.261 --> 00:07:24.202
I came back and asked Tiffany if she was interested.
164
00:07:24.222 --> 00:07:25.182
She's like, yeah, I'd do that.
165
00:07:25.622 --> 00:07:29.623
Well, then we just went on about years of traveling and it never made our calendar.
166
00:07:29.643 --> 00:07:30.583
And I actually forgot about it.
167
00:07:30.603 --> 00:07:31.264
So you brought it up now.
168
00:07:32.044 --> 00:07:32.224
Wow.
169
00:07:32.604 --> 00:07:32.864
Very cool.
170
00:07:32.884 --> 00:07:33.004
Okay.
171
00:07:33.024 --> 00:07:33.484
All right.
172
00:07:33.504 --> 00:07:34.324
We got close.
173
00:07:34.344 --> 00:07:35.085
See, that wasn't brief.
174
00:07:35.185 --> 00:07:35.545
Wasn't brief.
175
00:07:35.585 --> 00:07:36.965
All right.
176
00:07:37.145 --> 00:07:39.086
This part of the cold open is rapid fire.
177
00:07:39.106 --> 00:07:39.386
Okay.
178
00:07:39.706 --> 00:07:39.926
Okay.
179
00:07:39.946 --> 00:07:41.606
So these are gonna be non-business stuff.
180
00:07:41.626 --> 00:07:43.727
This is more or less just audience getting to know you a little bit more.
181
00:07:44.007 --> 00:07:45.007
It's simple A or B.
182
00:07:45.027 --> 00:07:45.527
All right.
183
00:07:45.627 --> 00:07:46.448
Which would you prefer?
184
00:07:46.668 --> 00:07:47.248
Either A or B.
185
00:07:47.848 --> 00:07:48.168
or B.
186
00:07:48.288 --> 00:07:49.009
And you don't have to say air B.
187
00:07:49.229 --> 00:07:49.949
Just tell me which one.
188
00:07:49.989 --> 00:07:51.270
If you want to think through it, you can.
189
00:07:51.730 --> 00:07:52.750
But it's just four.
190
00:07:52.770 --> 00:07:56.132
Just don't say more than, I hear you, I hear you.
191
00:07:56.232 --> 00:08:01.995
Okay, so from a health perspective, do you prefer a cold plunge or a sauna?
192
00:08:02.235 --> 00:08:02.555
Sauna.
193
00:08:02.875 --> 00:08:03.476
Oh, very interesting.
194
00:08:03.536 --> 00:08:03.796
Okay.
195
00:08:04.548 --> 00:08:07.192
Second, perfect date night or a preferred date night.
196
00:08:07.672 --> 00:08:09.595
Painting class or sports event?
197
00:08:09.915 --> 00:08:10.316
Sports.
198
00:08:10.516 --> 00:08:10.836
Really?
199
00:08:10.956 --> 00:08:11.677
Okay, I didn't know that.
200
00:08:11.737 --> 00:08:12.018
Okay.
201
00:08:12.298 --> 00:08:14.100
Third, better viewing.
202
00:08:14.581 --> 00:08:18.947
UFC, NBA finals, there's a third one, or World Cup?
203
00:08:19.490 --> 00:08:21.712
UFC, but Tiffany would strongly disagree.
204
00:08:23.474 --> 00:08:24.295
Would she be World Cup?
205
00:08:24.555 --> 00:08:24.755
Yes.
206
00:08:24.775 --> 00:08:27.077
Because she'd probably gone to soccer because of the boys, right?
207
00:08:27.458 --> 00:08:28.599
Oh, oh my gosh.
208
00:08:28.659 --> 00:08:29.059
Riley.
209
00:08:29.620 --> 00:08:30.040
Okay.
210
00:08:30.080 --> 00:08:31.262
Riley played academy soccer.
211
00:08:31.322 --> 00:08:32.383
It's like it never ended.
212
00:08:32.503 --> 00:08:32.663
Yeah.
213
00:08:32.783 --> 00:08:32.883
Okay.
214
00:08:32.943 --> 00:08:33.444
All right.
215
00:08:33.504 --> 00:08:33.944
Last one.
216
00:08:34.465 --> 00:08:35.185
Preferred workout.
217
00:08:35.586 --> 00:08:40.791
Do you do full body lift when you're doing weights or do you do upper and lower body splits?
218
00:08:40.811 --> 00:08:41.231
Splits.
219
00:08:41.672 --> 00:08:41.912
You do?
220
00:08:41.972 --> 00:08:42.152
Okay.
221
00:08:42.312 --> 00:08:42.533
All right.
222
00:08:43.053 --> 00:08:43.213
Cool.
223
00:08:43.353 --> 00:08:44.253
There's your cold open.
224
00:08:44.513 --> 00:08:44.854
All right.
225
00:08:45.954 --> 00:08:46.334
All right.
226
00:08:46.474 --> 00:08:47.194
I survived it.
227
00:08:47.514 --> 00:08:48.435
What are you working on this week?
228
00:08:48.455 --> 00:08:49.875
I know last week, a lot of data stuff.
229
00:08:50.035 --> 00:08:51.375
Is it still working on...
230
00:08:51.635 --> 00:08:53.576
I'm working on a lot of stuff, but I got my...
231
00:08:54.316 --> 00:08:56.817
It's hard to describe how giant of a project this was.
232
00:08:57.237 --> 00:08:59.058
I got my marketing calendar nailed down.
233
00:08:59.418 --> 00:09:03.799
And I think I probably did a marketing calendar at a level most people don't think about.
234
00:09:04.519 --> 00:09:06.920
And then I also created, I said this before, this...
235
00:09:07.715 --> 00:09:14.478
It was a big project, this task list that defines everything that has to continue happening in the business on an ongoing basis and who owns it.
236
00:09:14.518 --> 00:09:15.359
I got all that done.
237
00:09:15.679 --> 00:09:22.782
And in doing so, a project that I had started a while back that I was going to I was doing it for.
238
00:09:23.183 --> 00:09:28.985
We're moving to every chat to run our business from a communications marketing standpoint.
239
00:09:29.846 --> 00:09:33.568
And I'm waiting for something to get built in there, which is the tiering of our clients.
240
00:09:34.485 --> 00:09:37.308
And so I started this project where I tiered all of our clients.
241
00:09:37.348 --> 00:09:38.229
I'll explain that.
242
00:09:38.329 --> 00:09:40.571
And I was just waiting for this to get done in the product.
243
00:09:41.111 --> 00:09:43.774
Well, after going through it, so I kind of just put the project on hold.
244
00:09:43.794 --> 00:09:47.717
But after going through my marketing calendar and everything, I resurrected this project.
245
00:09:47.777 --> 00:09:49.939
And it's my top project to finish this week.
246
00:09:50.660 --> 00:09:55.324
And what it is, is it's basically a ranking of every client in our system into four tiers.
247
00:09:56.105 --> 00:09:58.246
So tier one client, tier two, tier three, tier four.
248
00:09:58.866 --> 00:10:03.288
I also have all the data for every home that I could potentially serve in my market.
249
00:10:03.508 --> 00:10:08.910
The neighborhood they're in, the home value, all this other data, it's tiering that entire prospective base.
250
00:10:09.790 --> 00:10:14.232
And the tiering becomes critical because it determines how I market to different
251
00:10:14.692 --> 00:10:18.616
classes of people, how I talk to them, how we serve them customer service wise.
252
00:10:19.076 --> 00:10:26.062
And then when you get into the prospects, who gets direct mail, who gets what kind of packages, who doesn't get any physical touches, things like that.
253
00:10:26.643 --> 00:10:28.264
So it drives all decision making.
254
00:10:28.284 --> 00:10:29.946
So I have to finish this tiering project.
255
00:10:30.546 --> 00:10:30.986
And I'm doing it now.
256
00:10:31.006 --> 00:10:31.747
I have a question about that.
257
00:10:31.767 --> 00:10:32.208
I have a question.
258
00:10:32.228 --> 00:10:33.529
I know you still got to keep going on this.
259
00:10:33.549 --> 00:10:33.909
No, I'm good.
260
00:10:33.949 --> 00:10:34.229
I'm good.
261
00:10:34.289 --> 00:10:34.570
I'm good.
262
00:10:35.050 --> 00:10:36.312
The hardest part about that is weighting.
263
00:10:36.512 --> 00:10:40.557
Because when you have multiple variables, it's like, well, is the home value the higher weight?
264
00:10:41.018 --> 00:10:43.100
Or is the lifetime value of the customer?
265
00:10:43.180 --> 00:10:44.602
Or is the type of service?
266
00:10:45.023 --> 00:10:48.267
That's always been the hardest for me when I come to tiering.
267
00:10:49.569 --> 00:10:52.913
It becomes still a subjective game of what do I put the most weight on?
268
00:10:53.315 --> 00:10:53.876
100%.
269
00:10:54.036 --> 00:11:04.586
And the other one is there's factors I can't score yet that I'm hoping to convince Riley to build into every chat, which is referral waiting.
270
00:11:04.846 --> 00:11:07.268
I need to understand who referred who.
271
00:11:07.749 --> 00:11:09.771
It was something we were always going to build into Service Autopilot.
272
00:11:09.791 --> 00:11:11.252
It actually is in Service Autopilot.
273
00:11:11.272 --> 00:11:11.612
It's hidden.
274
00:11:12.578 --> 00:11:14.680
A little side note about service hot bite.
275
00:11:14.980 --> 00:11:16.481
That's in service hot bite hidden.
276
00:11:16.561 --> 00:11:22.705
And so is a whole entire affiliate marketing functionality piece to turn all your clients into referral people.
277
00:11:23.625 --> 00:11:24.706
And we never released it.
278
00:11:25.247 --> 00:11:27.688
It's another one of my brainchilds that never got done.
279
00:11:28.409 --> 00:11:30.010
Anyway, my point is, I really believe in this.
280
00:11:30.190 --> 00:11:36.214
Like when you think about the value of a client, you could say, hey, the value of the client is based on what services are they buying?
281
00:11:36.534 --> 00:11:37.415
Are they higher margin?
282
00:11:37.435 --> 00:11:37.975
Right.
283
00:11:38.075 --> 00:11:42.958
the pain in the butt factor of this person, their propensity to buy additional services.
284
00:11:43.298 --> 00:11:45.319
Like you could come up with all these scoring criteria.
285
00:11:45.359 --> 00:11:50.562
Well, one of the major scoring criteria has to be, do they refer and how many people have they referred?
286
00:11:51.062 --> 00:11:59.727
Like a client that refers four clients versus a client refers nobody is way more valuable than a client that, like if I have a client that buys one service,
287
00:12:00.367 --> 00:12:02.608
but refers two people a year.
288
00:12:03.049 --> 00:12:05.911
And I have a client that buys three services, but refers nobody.
289
00:12:06.031 --> 00:12:08.652
The client that refers is way more valuable to me.
290
00:12:09.213 --> 00:12:09.713
Hands down.
291
00:12:10.033 --> 00:12:14.296
Are you tiering it based upon, like what's the factor between tier one and tier two?
292
00:12:14.576 --> 00:12:15.417
Is it a point system?
293
00:12:16.192 --> 00:12:17.513
Yeah, so I'm sorry, I got distracted.
294
00:12:17.553 --> 00:12:25.939
I was saying that there's tiering functionality that I can't include right now that will include heavier weighting later, but I need software to do it.
295
00:12:26.499 --> 00:12:29.181
So that's where that went down the road of the referrals.
296
00:12:29.662 --> 00:12:32.403
It's also where the paid in the back factor comes in.
297
00:12:32.764 --> 00:12:43.031
So right now when I'm tiering, I'm tiering based on where they live, what services they're buying that are stacked rank by gross margin.
298
00:12:43.391 --> 00:12:45.293
I'm tiering based on...
299
00:12:45.993 --> 00:12:56.241
this very lousy thing we've tried to build that tries to figure out if they're a pain in the butt client or a good client.
300
00:12:57.001 --> 00:13:01.545
And then total revenue, which is a little less.
301
00:13:02.185 --> 00:13:03.706
That they're billed, that accrued?
302
00:13:04.787 --> 00:13:10.211
No, total revenue that they are spending with us at this exact moment.
303
00:13:10.791 --> 00:13:15.395
So when it comes to accrued, I don't value that as much because I just do projections.
304
00:13:16.392 --> 00:13:16.792
I don't know.
305
00:13:17.473 --> 00:13:18.914
Maybe that's flawed, not flawed.
306
00:13:19.335 --> 00:13:24.479
But if somebody's been with me for six years, yeah, they're really, really valuable.
307
00:13:25.039 --> 00:13:34.267
But if somebody's only been with me for one year, and I am only looking and I'm looking at accrued revenue, that massively devalues what could be an incredibly valuable client.
308
00:13:34.547 --> 00:13:39.231
And so that waiting, I didn't give that a lot of value.
309
00:13:41.549 --> 00:13:42.949
I mean, yeah, so interesting.
310
00:13:43.050 --> 00:13:44.450
I wanted to do this so bad.
311
00:13:44.950 --> 00:13:45.630
It's really hard.
312
00:13:46.191 --> 00:13:54.073
It's well, the thing is, I started I convinced myself not to do it once I started being like, OK, if I do this has 10 percent weight versus 20 percent.
313
00:13:54.153 --> 00:13:55.353
Oh, I just changed all the tiers.
314
00:13:55.834 --> 00:13:59.975
Or if, for example, to your point, referral, someone who does referral has so much more value.
315
00:14:00.455 --> 00:14:04.636
Well, is it like five X the value as their lifetime gross profit?
316
00:14:05.057 --> 00:14:06.097
So like it got
317
00:14:06.477 --> 00:14:09.921
To the point, too, where I couldn't do it across Augusta because everyone has different values.
318
00:14:09.961 --> 00:14:16.529
Like, for some people, revenue with a lower gross profit is more valuable than because it fills in their off-season, for example.
319
00:14:17.090 --> 00:14:18.451
I think it's different by company.
320
00:14:18.992 --> 00:14:20.194
It's got such a bad idea.
321
00:14:20.214 --> 00:14:21.595
It has to be different by company.
322
00:14:22.176 --> 00:14:23.357
This isn't a new idea.
323
00:14:23.377 --> 00:14:24.859
This is an idea back in the service.
324
00:14:24.899 --> 00:14:25.159
I mean—
325
00:14:26.401 --> 00:14:29.364
The volume of things that never got built into my vision of ServiceLotipide.
326
00:14:29.384 --> 00:14:30.365
This is an example.
327
00:14:30.425 --> 00:14:34.529
But even back then, I remember thinking you could never just define this for people.
328
00:14:35.150 --> 00:14:35.830
I had a name.
329
00:14:36.111 --> 00:14:37.392
Yeah, I mean, anyway.
330
00:14:37.892 --> 00:14:39.694
We were trying to, because we do the same thing.
331
00:14:39.714 --> 00:14:41.976
We do this internally for the franchise owners.
332
00:14:42.617 --> 00:14:44.460
Because we have much more parameters.
333
00:14:44.860 --> 00:14:47.764
Internally, we know the health score of every location.
334
00:14:48.305 --> 00:14:50.929
And so we know who needs help, who's crushing it, etc.
335
00:14:51.229 --> 00:14:54.133
Is that based on MPS or is that based on this data?
336
00:14:54.193 --> 00:14:55.936
We don't even put in MPS.
337
00:14:56.056 --> 00:14:57.077
It's simply based upon...
338
00:14:57.698 --> 00:15:04.840
the amount of recurring revenue, their profit margins, the percentage of efficiency of labor, a bunch of stuff in the back and we plug into it and then that gives us health score.
339
00:15:05.260 --> 00:15:08.621
And we were really trying to think about this for homeworks.
340
00:15:08.721 --> 00:15:12.802
Like, how can we just give people a health score of a client like you just see it like, oh, it's red, it's green.
341
00:15:12.842 --> 00:15:13.242
It's it.
342
00:15:13.562 --> 00:15:16.923
But man, it's just it's a bag of a bunch of variables.
343
00:15:16.943 --> 00:15:20.244
And if you tweak one too much or put too much weight on one, it can throw it off.
344
00:15:20.905 --> 00:15:27.713
I think what you're at risk of, I've thought about with the software, is your risk of building this thing that sounds so wonderful, but then nobody ends up using it for those exact reasons.
345
00:15:28.293 --> 00:15:38.005
And so to solve the problem for me, because I've got a lot of holes in the data, I'm just only taking it so far for now, and then we'll re-rate all of our client base in the future as we have more ability.
346
00:15:38.486 --> 00:15:39.387
But I've got to have something.
347
00:15:40.093 --> 00:15:41.254
Yeah, that's super cool.
348
00:15:41.414 --> 00:15:43.475
So yeah, you finish now the marketing calendar.
349
00:15:43.495 --> 00:15:44.175
That's basically.
350
00:15:44.375 --> 00:15:45.936
Calendar, task, that stuff.
351
00:15:46.056 --> 00:15:48.257
It sounds so, I finished my task list.
352
00:15:48.297 --> 00:15:49.218
It sounds like nothing.
353
00:15:49.378 --> 00:15:52.379
This, it was miserable projects to finish.
354
00:15:52.639 --> 00:15:53.900
It was, they were really miserable.
355
00:15:54.940 --> 00:15:56.701
I actually just wrapped up one of them last night.
356
00:15:56.721 --> 00:15:58.002
I went to bed at four o'clock this morning.
357
00:15:58.482 --> 00:16:04.786
So I just, it's like pulling teeth to get me to finish these because there's so much thought and decision making that has to go into it.
358
00:16:04.926 --> 00:16:07.527
So I just kept finding I want to go do something else.
359
00:16:07.567 --> 00:16:09.108
So anyway, yeah, those are done.
360
00:16:09.348 --> 00:16:10.209
Tiering's next.
361
00:16:10.269 --> 00:16:17.813
And then I got so many projects going, but I got key projects that I try to spend most of my time on until they're done.
362
00:16:17.833 --> 00:16:18.954
And then I move to the next one.
363
00:16:19.194 --> 00:16:21.636
And the tiering is a bottleneck to some of my next projects.
364
00:16:21.656 --> 00:16:22.476
So I got to get it done.
365
00:16:22.616 --> 00:16:22.836
Cool.
366
00:16:23.037 --> 00:16:23.437
What about you?
367
00:16:23.457 --> 00:16:23.657
All right.
368
00:16:24.659 --> 00:16:29.983
This week, so we kind of went to phase two of the MCP axis.
369
00:16:30.504 --> 00:16:32.185
So now there's a whole bunch more people inside.
370
00:16:32.205 --> 00:16:34.687
So I was able to go and see some things that people are doing.
371
00:16:34.927 --> 00:16:39.211
So it's code ready that people – is it beta?
372
00:16:39.811 --> 00:16:40.772
Yeah, it's beta.
373
00:16:40.832 --> 00:16:41.633
So phase two beta.
374
00:16:41.653 --> 00:16:41.833
Yeah.
375
00:16:42.273 --> 00:16:42.793
Yeah, exactly.
376
00:16:42.813 --> 00:16:43.894
We'll do the third phase too.
377
00:16:43.974 --> 00:16:45.674
So we're going to just do it slow.
378
00:16:45.954 --> 00:16:47.975
But yeah, just seeing some of the use cases, people get creative.
379
00:16:47.995 --> 00:16:48.596
It was really cool.
380
00:16:48.636 --> 00:16:55.378
For example, I actually specifically went and looked at what you had talked about last week, like data attribution, and then tying it to like channel churn.
381
00:16:55.398 --> 00:16:57.659
It was like, okay, if they came from Facebook, what's the churn?
382
00:16:57.699 --> 00:16:59.580
If they come from a door hanger, what's the churn?
383
00:16:59.840 --> 00:17:01.201
If they come from Google, what's the churn?
384
00:17:02.321 --> 00:17:03.701
And man, it is great.
385
00:17:03.822 --> 00:17:06.182
So there's some really cool stuff that members are building.
386
00:17:06.222 --> 00:17:08.964
It's just so cool to see what they're building, stuff I didn't even think of.
387
00:17:10.324 --> 00:17:13.185
When you say building, they're just building as a prompt, right?
388
00:17:13.685 --> 00:17:13.985
Correct.
389
00:17:14.045 --> 00:17:14.185
Yeah.
390
00:17:14.265 --> 00:17:15.125
It's just really the prompt.
391
00:17:15.145 --> 00:17:19.947
And most of it's useful for reporting because we will never be able to build every report that everyone wants to see.
392
00:17:20.007 --> 00:17:22.067
This is one of the greatest things about this.
393
00:17:22.128 --> 00:17:23.848
I think about like a Service Alpine 2.0.
394
00:17:23.888 --> 00:17:28.349
It's like, I would have had to do all this reporting stuff that nobody will ever be happy with.
395
00:17:28.369 --> 00:17:30.030
This is like the solution to that problem.
396
00:17:30.050 --> 00:17:30.770
I love it.
397
00:17:31.190 --> 00:17:32.531
You just keep legacy reports.
398
00:17:32.571 --> 00:17:33.671
Just keep legacy reports.
399
00:17:36.812 --> 00:17:50.979
um what what is so you've seen cool things that have been built what's the biggest like technical challenge like oh crud this is uh has is anything like that presented itself just yet you're like oh this is a big decision we have to make internally
400
00:17:51.819 --> 00:17:55.760
Well, right now, the biggest one has been like, I'm going to eat the cost.
401
00:17:56.020 --> 00:17:57.180
I want to see people.
402
00:17:57.380 --> 00:17:58.261
Of tokens?
403
00:17:58.921 --> 00:17:59.101
Yeah.
404
00:17:59.121 --> 00:18:03.802
Of tokens or like our data cost or like a hosting cost because you're hitting.
405
00:18:04.002 --> 00:18:07.723
Because eventually it'll mean you have to scale more instances of services or servers.
406
00:18:08.063 --> 00:18:08.803
A little bit of both.
407
00:18:09.003 --> 00:18:09.603
A little bit of both.
408
00:18:09.683 --> 00:18:11.904
Right now, it's like, hey, what are the parameters we got to put in place?
409
00:18:11.944 --> 00:18:16.945
But like, I want the box to be open because I feel like if I'm like from day one, hey, we're charging.
410
00:18:16.965 --> 00:18:17.205
Yeah.
411
00:18:17.425 --> 00:18:20.546
So few people get in and then nothing interesting gets built inside the community.
412
00:18:20.646 --> 00:18:21.006
I agree.
413
00:18:21.026 --> 00:18:21.626
That's a good idea.
414
00:18:22.066 --> 00:18:29.068
And so I'm like, hey, let's let's eat the cost, let people in and then down the road, we'll put the parameters because there's people that get in there and they will hit that thing.
415
00:18:29.188 --> 00:18:32.829
Like, my goodness, they can go they can go crazy really fast.
416
00:18:33.169 --> 00:18:35.909
And so, yeah, been very interesting.
417
00:18:35.949 --> 00:18:43.091
The second thing I've been working on this week was I had mentioned a couple weeks ago, the upsell calls that we're doing for on the phone for Augusta.
418
00:18:43.491 --> 00:18:44.351
I went out and did some.
419
00:18:44.712 --> 00:18:46.392
So I got on the phone and just started doing it.
420
00:18:46.692 --> 00:18:49.993
Just to get the rep, see where some of the holes are, what's working, what's not.
421
00:18:50.193 --> 00:19:03.098
It was super eye-opening and just really, really solid to be able to get hands-on with the customers, what it feels like from an agent's perspective, where the gaps are in information for the agent to actually do a good upsell.
422
00:19:03.618 --> 00:19:04.698
But it was fun.
423
00:19:04.818 --> 00:19:08.060
I actually did some of it I got on video, and I'll post it.
424
00:19:08.500 --> 00:19:08.980
Oh, that's cool.
425
00:19:09.460 --> 00:19:13.684
On the back end for your AI model, what model do you use?
426
00:19:13.944 --> 00:19:17.307
For what I'm building?
427
00:19:17.648 --> 00:19:21.311
Are you guys only passing data to the front end model?
428
00:19:21.331 --> 00:19:26.596
Like if they're using ChatGPT, you're just gathering the data and passing it.
429
00:19:26.856 --> 00:19:30.039
Have you AI enabled with a model your system in any way yet?
430
00:19:30.379 --> 00:19:31.360
In Claude.
431
00:19:31.400 --> 00:19:31.780
You are.
432
00:19:31.800 --> 00:19:33.202
In terms of an MCP connector.
433
00:19:33.737 --> 00:19:35.217
Okay, so you just built it for Claude.
434
00:19:35.578 --> 00:19:36.098
Correct, yeah.
435
00:19:36.118 --> 00:19:37.538
Okay, that's what, okay, all right.
436
00:19:37.558 --> 00:19:45.921
Yeah, like, yeah, there's so many ways to do it once you open up the API, but right now we're just doing a connector with Claude.
437
00:19:46.181 --> 00:19:46.281
Okay.
438
00:19:46.301 --> 00:19:47.341
That's what our focus on.
439
00:19:47.441 --> 00:19:47.681
Okay.
440
00:19:47.761 --> 00:19:50.082
And then I think down the road, we'd open up some other elements.
441
00:19:50.102 --> 00:19:50.522
Okay.
442
00:19:50.622 --> 00:19:50.882
Cool.
443
00:19:50.942 --> 00:19:52.002
That's what I've been working on.
444
00:19:52.042 --> 00:19:52.302
Okay.
445
00:19:52.622 --> 00:19:52.922
Fantastic.
446
00:19:52.942 --> 00:19:54.983
We are going to go into our first question.
447
00:19:55.463 --> 00:19:57.563
The first couple of questions of the day are a little different.
448
00:19:57.663 --> 00:20:00.884
So it's what questions we want to ask each other.
449
00:20:01.164 --> 00:20:04.185
Now, we have not talked to each other about these or given any heads up.
450
00:20:04.765 --> 00:20:06.945
I've prepared two questions that I'm going to ask JP.
451
00:20:07.425 --> 00:20:11.926
And then if you have any questions, you're welcome to ask me anything.
452
00:20:12.186 --> 00:20:13.927
I have two questions.
453
00:20:14.027 --> 00:20:14.567
I love this.
454
00:20:14.647 --> 00:20:15.087
I like this.
455
00:20:15.127 --> 00:20:16.067
I thought this was a cool idea.
456
00:20:16.467 --> 00:20:18.949
Yeah, I thought last week's episode, I thought it was really good.
457
00:20:19.069 --> 00:20:20.269
It just came out this morning.
458
00:20:20.449 --> 00:20:20.610
Yeah.
459
00:20:20.670 --> 00:20:26.973
Like, I enjoyed last week's episode because I took actual things away from our conversation and implemented it within an hour.
460
00:20:27.494 --> 00:20:28.975
And I think you had some similar things.
461
00:20:29.135 --> 00:20:29.775
Yeah, I liked that.
462
00:20:29.895 --> 00:20:32.277
I listened to it at 1.30 this morning while I was walking.
463
00:20:33.918 --> 00:20:34.938
1.30, you were doing a walk?
464
00:20:34.958 --> 00:20:36.359
I would have been at 4 o'clock this morning.
465
00:20:36.519 --> 00:20:37.060
Bro.
466
00:20:38.140 --> 00:20:40.682
I'm in a really bad place from this whole sleeping thing right now.
467
00:20:42.843 --> 00:20:43.103
Oh, man.
468
00:20:43.183 --> 00:20:43.363
Okay.
469
00:20:43.383 --> 00:20:43.584
All right.
470
00:20:43.604 --> 00:20:45.525
Well, I'll ask you my questions first.
471
00:20:45.925 --> 00:20:46.025
Okay.
472
00:20:46.045 --> 00:20:46.986
And then we'll see.
473
00:20:47.426 --> 00:20:47.926
We'll go from there.
474
00:20:48.086 --> 00:20:51.709
So the first question I have is about dealing with public backlash.
475
00:20:52.509 --> 00:20:58.833
So what are actionable things you had to learn or do to regulate your emotions and lead better?
476
00:20:59.173 --> 00:21:04.637
And specifically, if you have examples or stories, I know you had already a bit of a personal brand.
477
00:21:05.417 --> 00:21:08.902
and online presence that really launched a lot of service autopilot.
478
00:21:09.422 --> 00:21:10.804
But what did you have to learn?
479
00:21:10.924 --> 00:21:20.316
I think one of the things I've mentioned before in the show is just my respect for your emotional regularity, like lower highs and higher lows.
480
00:21:21.177 --> 00:21:23.579
and being able to stay composed in those moments.
481
00:21:23.880 --> 00:21:36.250
But what were some of the things you actually had to learn or specific things that you would do to make sure you could regulate your emotions and lead, especially internally, the team, but also the external facing backlash that's coming your way?
482
00:21:36.628 --> 00:21:50.232
You know, I never really had to get comfortable with getting a lot of negativity on social media because I never built that big of a channel, even though it was really successful in terms of driving revenue at Service Autopilot leads.
483
00:21:50.912 --> 00:21:59.954
But Service Autopilot, that was a different thing because you just deal with so many challenges, building software and meeting expectations and then problems happen.
484
00:22:00.274 --> 00:22:01.815
There's no getting around the problems.
485
00:22:02.275 --> 00:22:03.055
It's impossible.
486
00:22:04.095 --> 00:22:20.731
So, the one thing that I think the first thing that came to mind that I feel like I've really learned in dealing with really hard stuff where you're kind of stuck, and I don't know if we've talked about this already on this in our whatever number of episodes we've done, but it's this idea.
487
00:22:20.791 --> 00:22:22.692
This is probably one of the biggest takeaways for me.
488
00:22:23.033 --> 00:22:25.995
It's this idea that my brain will just cycle.
489
00:22:26.796 --> 00:22:33.238
And I will go over the solution and over the solution and just constantly because I like facts and details.
490
00:22:33.258 --> 00:22:34.378
So I'm always trying to solve.
491
00:22:34.778 --> 00:22:35.898
Like, what's the solution here?
492
00:22:36.519 --> 00:22:39.699
And it just becomes this negativity in my mind.
493
00:22:39.759 --> 00:22:42.880
I'm not really a person that just gets stuck dwelling on problems forever.
494
00:22:43.280 --> 00:22:45.681
I more live a little in the future than I live in the past.
495
00:22:46.121 --> 00:22:48.662
But I will cycle on solving something forever.
496
00:22:48.682 --> 00:22:49.302
Yeah.
497
00:22:49.382 --> 00:22:50.362
and just bring it back up.
498
00:22:50.442 --> 00:22:58.744
And so that whenever I would get into a bad place where things weren't going good, I was frustrated with the company, it's going too slow.
499
00:22:58.924 --> 00:23:07.066
I was frustrated with a situation in the company or we had really screwed up, like servers are keep dropping or whatever.
500
00:23:08.046 --> 00:23:12.347
We promised everybody nine months ago you were gonna get this functionality, whatever the scenario is.
501
00:23:12.387 --> 00:23:14.588
And that's where you feel like you're taking a mental beating.
502
00:23:15.268 --> 00:23:18.909
My thing I use to this day is to constantly ask myself,
503
00:23:19.569 --> 00:23:21.050
Have I identified the problem?
504
00:23:21.310 --> 00:23:22.591
Have I figured out what it is?
505
00:23:22.651 --> 00:23:26.133
Have I figured out what the next few steps are with absolute clarity?
506
00:23:26.293 --> 00:23:27.554
And am I doing the next step?
507
00:23:27.875 --> 00:23:30.736
And that's a really simplistic thing.
508
00:23:30.796 --> 00:23:38.501
But for me, it helped because I would constantly just reanalyze the problem and what we need to be doing, constantly rethink it.
509
00:23:38.581 --> 00:23:45.106
And so then you end up just dwelling on this thing and you're not, it drains all the energy and life out of you and you're not moving forward.
510
00:23:45.126 --> 00:23:48.828
And so what I got comfort in was I am doing something
511
00:23:49.068 --> 00:23:50.789
I believe we have made the right decision.
512
00:23:50.829 --> 00:23:51.909
We're doing everything possible.
513
00:23:51.929 --> 00:23:54.170
We're doing the best thing for the client, doing the best thing for the team.
514
00:23:54.570 --> 00:23:55.511
Here's the next action.
515
00:23:55.651 --> 00:23:56.431
I am working it.
516
00:23:56.571 --> 00:23:59.632
And as soon as that's done, I will work the next action and the next action.
517
00:23:59.712 --> 00:24:01.693
And that brought me a lot of mental relief.
518
00:24:01.733 --> 00:24:07.235
It didn't solve the problem, but it brought this structure to the situation.
519
00:24:07.696 --> 00:24:09.596
That's the first one that came to mind.
520
00:24:10.097 --> 00:24:10.617
The other one...
521
00:24:11.737 --> 00:24:12.698
I want to hear about the next one.
522
00:24:13.238 --> 00:24:17.340
I think the thing for me that's hardest is when it's the nine month problem.
523
00:24:17.500 --> 00:24:20.561
It's not something that is like, hey, I hear you.
524
00:24:20.661 --> 00:24:21.641
I will fix this tomorrow.
525
00:24:21.781 --> 00:24:23.922
It's not like that's not that.
526
00:24:23.962 --> 00:24:24.663
Those are the easiest.
527
00:24:24.743 --> 00:24:25.683
I love those problems.
528
00:24:26.163 --> 00:24:27.204
That was never my problem.
529
00:24:27.224 --> 00:24:28.284
It's the longer stuff.
530
00:24:28.664 --> 00:24:30.985
It's the stuff where you don't know the servers.
531
00:24:31.025 --> 00:24:34.987
Why do I have to keep rebooting these three front end servers online?
532
00:24:35.627 --> 00:24:37.088
This was a real service all-pilot thing.
533
00:24:37.708 --> 00:24:40.448
Every two weeks because people are calling in and saying it got slower.
534
00:24:40.468 --> 00:24:41.209
We can see the data.
535
00:24:41.249 --> 00:24:42.589
It's like all of a sudden the thing got slow.
536
00:24:42.909 --> 00:24:43.729
Why is it getting slow?
537
00:24:43.949 --> 00:24:46.690
So we have to reboot the server and everything is great for two weeks and it's slow again.
538
00:24:46.950 --> 00:24:48.371
And we're just chasing a problem.
539
00:24:48.771 --> 00:24:49.611
And we're like, can't find it.
540
00:24:49.631 --> 00:24:53.412
It's like that kind of stuff where it's like, this is a terrible experience for people.
541
00:24:54.092 --> 00:24:55.492
You know, we had a lot of service.
542
00:24:55.512 --> 00:24:57.233
Yeah, well, you know, we had a lot of service.
543
00:24:57.253 --> 00:25:00.414
So in that scenario, maybe 15% of people are being impacted by it.
544
00:25:00.674 --> 00:25:02.154
Well, today, 15%.
545
00:25:02.194 --> 00:25:03.935
And in three days, there'll be a different 15%.
546
00:25:03.955 --> 00:25:05.155
And five days, there'll be a different 15%.
547
00:25:05.295 --> 00:25:07.235
It's like, that's, this is terrible.
548
00:25:07.255 --> 00:25:11.656
We got it, you know, that kind of stuff would eat at me because it felt like we were letting people down.
549
00:25:12.117 --> 00:25:13.217
And we didn't know the answer.
550
00:25:14.017 --> 00:25:21.001
And so that's those just as to what you said, it wasn't the we've got a problem and I can deal with this tomorrow.
551
00:25:21.021 --> 00:25:22.101
We can fix this for them.
552
00:25:22.141 --> 00:25:23.182
And that's done.
553
00:25:23.262 --> 00:25:27.724
It's the stuff that lingered that was going to take forever was behind or we didn't know it.
554
00:25:27.864 --> 00:25:29.325
We didn't have the answer just yet.
555
00:25:30.186 --> 00:25:30.846
Second example.
556
00:25:31.186 --> 00:25:33.747
Man, the other one, I know I've talked about this.
557
00:25:34.707 --> 00:25:40.209
One of the great things about being a dad is you just really think about how everything happens in life.
558
00:25:40.229 --> 00:25:42.630
You can say whatever you want to your kids.
559
00:25:42.870 --> 00:25:44.371
It's all about what you do.
560
00:25:44.631 --> 00:25:49.152
And so it's like I would use an example of somebody's a smoker and they tell their kids not to smoke, but they smoke.
561
00:25:49.732 --> 00:25:50.993
That's not going to work.
562
00:25:51.173 --> 00:25:52.213
So you have to live it.
563
00:25:52.633 --> 00:25:53.254
You have to live it.
564
00:25:53.334 --> 00:25:55.374
So I was always reminded myself
565
00:25:57.215 --> 00:25:59.556
And I always reminded myself, I am the example.
566
00:25:59.796 --> 00:26:02.256
So people have to see me calm.
567
00:26:02.797 --> 00:26:07.398
And so how can I calm myself?
568
00:26:07.438 --> 00:26:08.798
Breathing, I think, is a big thing.
569
00:26:08.838 --> 00:26:10.079
Just to be conscious.
570
00:26:10.099 --> 00:26:11.499
Two things I always remind myself of.
571
00:26:12.279 --> 00:26:13.200
This sounds so silly.
572
00:26:13.580 --> 00:26:15.280
I can picture this because we had an office.
573
00:26:15.320 --> 00:26:18.901
I drive to work, and I would think in the morning when I drive to work, I need to smile.
574
00:26:19.982 --> 00:26:24.483
Because I literally would try to smile while I'm driving to work because...
575
00:26:25.303 --> 00:26:26.424
I will get really serious.
576
00:26:26.464 --> 00:26:29.626
Like when I'm thinking about a problem, I'll look, I might do it on the air.
577
00:26:29.666 --> 00:26:32.208
Like I might look like I'm upset or frustrated.
578
00:26:32.428 --> 00:26:33.909
I'm not, I'm just processing.
579
00:26:33.929 --> 00:26:34.330
I'm working.
580
00:26:34.370 --> 00:26:36.111
So I can remind myself that.
581
00:26:36.131 --> 00:26:39.293
And then the one is like breathing and because you're the example.
582
00:26:39.353 --> 00:26:42.656
So how do you be as calm as you can possibly be?
583
00:26:42.716 --> 00:26:44.357
Because people are looking for confidence.
584
00:26:44.617 --> 00:26:59.076
The other thing that I constantly remind myself of, talked about this one too, is, and you're absolutely at this place in your career, and many people are, it's like if you think back about all the stuff that you thought was going to take you down or all the stuff that you
585
00:26:59.797 --> 00:27:01.278
You were so stressed about it.
586
00:27:01.478 --> 00:27:02.299
And here you are today.
587
00:27:02.339 --> 00:27:02.959
It's worked out.
588
00:27:03.019 --> 00:27:04.400
You figured out a solution.
589
00:27:04.760 --> 00:27:09.203
You didn't, you know, most people, like some people run from their stuff and don't solve them.
590
00:27:09.263 --> 00:27:21.252
But yeah, I'm talking to the person that like you continually, as I say, engineer a solution to the problem where you and the team together figured out that if you dwell on that and pay real close attention, that that should give you extreme confidence.
591
00:27:22.112 --> 00:27:25.834
So whatever you're stuck in right now, it's like, hey, I've been doing this for a decade.
592
00:27:25.874 --> 00:27:27.294
We've always solved it.
593
00:27:27.774 --> 00:27:32.216
It has not been fun and it hasn't been fast, but we have always solved it.
594
00:27:32.316 --> 00:27:33.377
Why would this be different?
595
00:27:33.997 --> 00:27:40.780
Those are so that I think there's an element where you just have to like inject some positivity into a really bad situation.
596
00:27:41.400 --> 00:27:42.761
The fourth would be like work out hard.
597
00:27:43.943 --> 00:27:46.684
Work out really hard to de-stress.
598
00:27:46.885 --> 00:27:48.085
Don't go home and drink vodka.
599
00:27:48.385 --> 00:27:49.446
Go run.
600
00:27:49.506 --> 00:27:50.226
Go lift weights.
601
00:27:50.266 --> 00:27:51.727
Go do, because that is imperative.
602
00:27:51.747 --> 00:27:52.628
Not at 1.30 in the morning.
603
00:27:52.688 --> 00:27:54.108
Not at 1.30 in the morning.
604
00:27:54.148 --> 00:27:56.670
Yeah, exactly.
605
00:27:56.710 --> 00:27:58.170
So those are four things that come to mind.
606
00:27:58.671 --> 00:27:58.791
Cool.
607
00:27:58.811 --> 00:27:59.191
All right.
608
00:27:59.231 --> 00:28:00.352
Second question I have for you.
609
00:28:00.372 --> 00:28:04.854
Probably a similar vein, but I'm 30 years old.
610
00:28:05.474 --> 00:28:06.074
I don't need to ask.
611
00:28:06.215 --> 00:28:07.235
I don't know how old you are.
612
00:28:07.315 --> 00:28:08.015
Are you in your 50s?
613
00:28:08.556 --> 00:28:08.936
I'm 50.
614
00:28:09.656 --> 00:28:10.517
You're 50 on the nail?
615
00:28:10.537 --> 00:28:10.597
No.
616
00:28:11.483 --> 00:28:12.983
Let's go.
617
00:28:13.343 --> 00:28:13.724
Come on.
618
00:28:14.124 --> 00:28:15.284
You're going to live to 120.
619
00:28:15.304 --> 00:28:16.744
Remember last week's podcast?
620
00:28:17.204 --> 00:28:17.704
We'll see.
621
00:28:18.425 --> 00:28:20.985
No, it's like I've always been – I wasn't happy when I was 30.
622
00:28:21.125 --> 00:28:22.226
I mean I'm happy.
623
00:28:22.526 --> 00:28:23.006
I'm happy.
624
00:28:23.066 --> 00:28:23.946
I've always been happy.
625
00:28:24.166 --> 00:28:28.167
It's like when I was 20, I was like, golly, I'm already – I'm 25.
626
00:28:28.407 --> 00:28:29.187
I got so much to do.
627
00:28:29.287 --> 00:28:29.627
I'm 30.
628
00:28:29.647 --> 00:28:30.407
I got so much to do.
629
00:28:30.888 --> 00:28:32.408
So for me, that's how 50 feels.
630
00:28:32.428 --> 00:28:37.929
Like I want to be able to do all the – I want to be able to do all the athletic stuff and not one day not be able to do it.
631
00:28:38.009 --> 00:28:39.390
So that's where it comes from.
632
00:28:39.450 --> 00:28:41.050
I need to quit whining about it, but yeah.
633
00:28:41.450 --> 00:28:41.483
Thank you.
634
00:28:42.315 --> 00:28:44.536
Okay, well, then that might actually, you might have answered the question.
635
00:28:44.556 --> 00:28:44.756
All right.
636
00:28:45.076 --> 00:28:53.899
So what would the current 50-year-old version of JP tell the 30-year-old version of JP to stop worrying about?
637
00:28:54.319 --> 00:28:56.160
Could be in life, business, anything.
638
00:28:56.760 --> 00:29:00.621
I've just convinced in life I've been wired to optimize for safety.
639
00:29:00.921 --> 00:29:03.482
I mean, to this day, I can't unwind the wiring.
640
00:29:03.562 --> 00:29:05.143
I still think about, is it enough?
641
00:29:05.203 --> 00:29:10.985
It's like so beyond, if anybody knew my number, they'd be like, this is the dumbest thing I've ever, like, what, how?
642
00:29:11.025 --> 00:29:11.345
How?
643
00:29:11.645 --> 00:29:13.606
Like, how could you even ever think about this again?
644
00:29:13.646 --> 00:29:14.366
It'll never matter.
645
00:29:14.426 --> 00:29:15.547
There's no chance it could matter.
646
00:29:16.907 --> 00:29:20.469
But there's still the program running in the back of my mind where I'm like, well, it's enough.
647
00:29:20.729 --> 00:29:23.691
But I've come to learn a lot of entrepreneurs do this like a little bit more.
648
00:29:24.691 --> 00:29:27.152
And so, but I've always had that wiring.
649
00:29:27.412 --> 00:29:34.376
Yeah, that would be the simple answer is it'll all be fine and you will have plenty.
650
00:29:34.996 --> 00:29:36.036
And I had plenty already.
651
00:29:37.257 --> 00:29:40.539
Would you tell that 30-year-old version of yourself to take more risk with the money?
652
00:29:40.559 --> 00:29:41.039
Yes.
653
00:29:41.059 --> 00:29:43.880
Or would you tell them to enjoy the money more?
654
00:29:44.441 --> 00:29:46.282
You know, this is the thing.
655
00:29:47.062 --> 00:29:51.644
If you have the advantage of hindsight, then you say take way more risk.
656
00:29:51.944 --> 00:29:53.565
But we don't know what's going to happen.
657
00:29:53.965 --> 00:29:56.847
So when I look back and say, did it work out?
658
00:29:57.007 --> 00:29:58.167
Yeah, it worked out really well.
659
00:29:58.267 --> 00:29:58.708
Was I...
660
00:29:59.368 --> 00:30:03.211
Did I put myself in a position where I was constantly stressed because I was taking risks?
661
00:30:03.251 --> 00:30:05.533
No, not at all.
662
00:30:05.553 --> 00:30:10.497
I played a conservative game, which worked for me financially, and I did not stress about...
663
00:30:10.737 --> 00:30:15.280
I didn't stress about money like, oh my gosh, the business is going to be... Is the business going to be okay?
664
00:30:15.320 --> 00:30:16.621
I didn't have any of those stresses.
665
00:30:17.522 --> 00:30:20.284
I believed that I would be fine financially.
666
00:30:20.604 --> 00:30:23.467
I just always thought, will it be enough?
667
00:30:23.867 --> 00:30:26.629
It's like this little thing of more, more, more runs in my head.
668
00:30:26.809 --> 00:30:28.491
That's where it's like an unnecessary...
669
00:30:30.051 --> 00:30:38.157
So I would take more risks knowing how I know the economy worked out and the world worked out and politics worked out, but we don't know what the next 20 years looks like.
670
00:30:38.498 --> 00:30:43.822
So if I look at it from a purely analytical standpoint, I was protected along the way.
671
00:30:44.243 --> 00:30:47.045
If really bad stuff happened, my businesses were not going away.
672
00:30:47.345 --> 00:30:50.949
And so I think I made the right decision for me, how I'm made.
673
00:30:51.229 --> 00:30:56.014
But in the hindsight of history, I should have financed everything and leveraged everything.
674
00:30:56.495 --> 00:30:56.955
But I didn't.
675
00:30:58.017 --> 00:30:59.078
And I have a lot more if I did.
676
00:30:59.118 --> 00:30:59.979
But who cares?
677
00:30:59.999 --> 00:31:03.162
So is that clear on how I answered that?
678
00:31:03.202 --> 00:31:03.402
Yeah.
679
00:31:05.004 --> 00:31:05.425
Yeah, totally.
680
00:31:05.445 --> 00:31:12.492
So it was the worry about money and that you were too conservative in your in your bets, essentially.
681
00:31:12.812 --> 00:31:19.780
Yeah, but the conservative gave me a level of peace because of my underlying program that's running for safety.
682
00:31:20.480 --> 00:31:20.881
Interesting.
683
00:31:21.212 --> 00:31:21.432
Okay.
684
00:31:21.532 --> 00:31:21.753
All right.
685
00:31:21.893 --> 00:31:22.133
Heard.
686
00:31:22.793 --> 00:31:22.914
Okay.
687
00:31:22.934 --> 00:31:24.475
I was digesting it for my own self.
688
00:31:24.495 --> 00:31:29.039
I'm in that same boat of like, I still have so many opportunities to put the money back in.
689
00:31:29.779 --> 00:31:31.621
And I don't worry about money.
690
00:31:31.661 --> 00:31:32.902
I don't at all.
691
00:31:33.343 --> 00:31:35.464
And so I'm a little different in your regard.
692
00:31:35.524 --> 00:31:36.265
I think I'm business.
693
00:31:36.285 --> 00:31:37.706
I make very conservative decisions.
694
00:31:38.167 --> 00:31:39.168
I don't worry about money.
695
00:31:39.568 --> 00:31:39.928
I don't know.
696
00:31:40.048 --> 00:31:40.848
It's just different.
697
00:31:40.968 --> 00:31:42.029
It's an interesting topic.
698
00:31:42.049 --> 00:31:43.389
So let's just go slightly further.
699
00:31:43.869 --> 00:31:57.373
I wonder if some of why I worried about money was from a religious standpoint because of what I believed was coming in the future, just to be very clear, how I saw the world back when I was... And it was unnecessary wiring.
700
00:31:57.813 --> 00:31:59.293
I also think some of it was...
701
00:31:59.453 --> 00:32:03.094
I got married at 21, and it wasn't just me.
702
00:32:04.194 --> 00:32:06.355
I had a wife, and then I had kids.
703
00:32:07.235 --> 00:32:12.998
And so that brought this whole, like, they need to be okay if something happens to me.
704
00:32:13.298 --> 00:32:21.162
It wasn't, like, I feel like if it had always just been me, then I could have just, I would have been more free with money because the only person that gets hurt is me.
705
00:32:21.743 --> 00:32:25.705
But as soon as I had family, it's, I still think this way.
706
00:32:27.045 --> 00:32:28.326
I've noticed like, oh, wow.
707
00:32:28.406 --> 00:32:32.887
I mean, I think if it was just me today, I would probably work even more than I work.
708
00:32:32.967 --> 00:32:36.629
And I would spend, I would probably invest a little more aggressive.
709
00:32:36.649 --> 00:32:38.309
And I'm like, I could do that now.
710
00:32:38.329 --> 00:32:40.050
It doesn't even matter.
711
00:32:40.110 --> 00:32:41.711
But I noticed that in my brain.
712
00:32:41.751 --> 00:32:45.372
So I think I was pretty impacted because I got married so young.
713
00:32:45.392 --> 00:32:50.494
There are advantages to this, but because I had such responsibility at such a young age,
714
00:32:51.114 --> 00:32:55.415
It wasn't just me that I was taking care of financially and I didn't want to let Tiffany down.
715
00:32:55.455 --> 00:33:02.518
Like the idea that I might have blown it all up and she's on the ride with me, that was very much on my mind.
716
00:33:02.538 --> 00:33:06.479
So I think those are two of the factors that wired me for this security thing.
717
00:33:07.419 --> 00:33:08.300
In your case...
718
00:33:09.215 --> 00:33:12.577
Man, I mean, to be where you're at at 30, you're marching in.
719
00:33:12.657 --> 00:33:15.718
I mean, you've got such momentum at this point.
720
00:33:16.758 --> 00:33:18.759
It's going to be very hard to stop it.
721
00:33:19.199 --> 00:33:22.361
I mean, even whether you invest massively or not.
722
00:33:23.060 --> 00:33:25.601
What's funny is that when I got married, it almost was the opposite.
723
00:33:25.821 --> 00:33:34.185
I went, I think seeing someone else spend the money a little bit helped me realize like, oh, I can go get more of that and I don't need to worry about it.
724
00:33:34.645 --> 00:33:39.788
And I almost started, I don't have that mentality of like, okay, if something happened to me, she's not going to be okay.
725
00:33:40.128 --> 00:33:43.390
Or I need to go out and I'm even more conservative because I have her.
726
00:33:43.690 --> 00:33:45.311
It's actually been very different for me.
727
00:33:45.371 --> 00:33:45.911
That's great.
728
00:33:46.471 --> 00:33:48.112
It's just, yeah, it's very interesting.
729
00:33:48.848 --> 00:33:51.610
I'll say the one last thing, man, something I really believe in.
730
00:33:51.930 --> 00:33:57.575
And I think this would resonate with you is you got to figure out what you're trying to optimize for.
731
00:33:57.735 --> 00:34:00.917
And so one thing you're optimizing for in life is money.
732
00:34:00.957 --> 00:34:03.399
But I know with you, it's not the only thing you're optimizing for.
733
00:34:03.959 --> 00:34:08.382
And so when it comes to the money thing, I do think you should figure out what the number is.
734
00:34:08.823 --> 00:34:13.486
And I think you figure out what the number is based on imagining what the ideal life looks like.
735
00:34:14.006 --> 00:34:15.447
Whatever that dollar amount is.
736
00:34:16.208 --> 00:34:18.790
That's, and it's just the dollar amount to live.
737
00:34:19.110 --> 00:34:21.732
And, but like live a really epic life.
738
00:34:21.772 --> 00:34:26.975
Whatever the epic life you want is that you think you would probably still want 30 years from now, what's that number?
739
00:34:27.536 --> 00:34:30.318
You build to that number to be able to generate that.
740
00:34:30.378 --> 00:34:31.739
And then everything after that,
741
00:34:32.599 --> 00:34:33.620
is just gravy.
742
00:34:33.720 --> 00:34:36.942
You could just give every other doll you ever make after that number away.
743
00:34:37.503 --> 00:34:41.086
You can let off the gas a little bit.
744
00:34:41.866 --> 00:34:43.527
I think that is the angle.
745
00:34:43.547 --> 00:34:46.229
The problem is I know almost nobody that actually lifts that.
746
00:34:46.610 --> 00:34:48.751
Everybody just goes and goes and goes forever.
747
00:34:49.392 --> 00:34:50.453
There's an element of why.
748
00:34:50.753 --> 00:34:52.454
I think about this a lot with myself.
749
00:34:52.514 --> 00:34:52.814
Why?
750
00:34:53.795 --> 00:34:56.037
Because then you're going to wake up when you're...
751
00:34:56.817 --> 00:34:59.519
I had less hobbies when I was your age
752
00:35:00.340 --> 00:35:01.761
Because all I cared about was work.
753
00:35:02.261 --> 00:35:03.061
I had one goal.
754
00:35:03.121 --> 00:35:04.322
I wanted to be successful.
755
00:35:04.702 --> 00:35:05.883
I liked what I was doing.
756
00:35:06.423 --> 00:35:07.464
I wanted to make it work.
757
00:35:08.104 --> 00:35:09.104
And I wanted to make money.
758
00:35:09.685 --> 00:35:14.027
And then, but I loved other stuff, but I didn't do any of the other stuff.
759
00:35:14.547 --> 00:35:15.768
Because I had kids.
760
00:35:15.848 --> 00:35:17.749
It was either like, I'm either working or I'm with my family.
761
00:35:17.809 --> 00:35:20.190
There's no time for much of anything else.
762
00:35:20.210 --> 00:35:20.830
Yeah.
763
00:35:20.890 --> 00:35:33.615
But as I got a little older and the money thing was less of an issue and I had a team around me, I started introducing more stuff into my life like racing cars or traveling.
764
00:35:34.436 --> 00:35:40.838
And the idea that if I hadn't done that and I'm at where I'm at today and I hadn't done any of those things, I'd have a much lesser life.
765
00:35:41.499 --> 00:35:46.241
So I do think there's this element where you figure out your number so you can bring all that other cool stuff into your life.
766
00:35:46.941 --> 00:35:51.926
And, and, and part of that is like, I know, I think I kind of know how you're wired.
767
00:35:52.187 --> 00:35:54.730
You want to help other people and you're doing it with what you do.
768
00:35:54.870 --> 00:35:59.014
Your platform does that, but also there's other ways I suspect you want to help people in the future.
769
00:35:59.635 --> 00:36:03.939
And once you have that number, you also give your permission, yourself permission to be way more free in that area.
770
00:36:04.640 --> 00:36:05.860
Versus just build, build, build.
771
00:36:05.880 --> 00:36:08.581
I don't know if that means anything to you.
772
00:36:08.721 --> 00:36:13.062
I'll listen back to this part of the podcast myself, since I've got my therapy session for the day.
773
00:36:14.222 --> 00:36:14.442
Cool.
774
00:36:14.522 --> 00:36:14.982
All right.
775
00:36:15.002 --> 00:36:15.382
Your turn.
776
00:36:15.882 --> 00:36:16.883
All right.
777
00:36:17.043 --> 00:36:27.325
So what's the thing you're most proud of that Augusta is doing that you would suspect CityTurf does not do and we should implement?
778
00:36:28.466 --> 00:36:29.386
Yeah.
779
00:36:29.486 --> 00:36:31.108
And you only know so much about CityTurf.
780
00:36:31.148 --> 00:36:33.049
I only know so much about Augusta.
781
00:36:33.189 --> 00:36:37.092
I think you're pretty fond of your online pricing and selling.
782
00:36:37.172 --> 00:36:39.494
I think you would say that's a really important thing that you've done.
783
00:36:39.874 --> 00:36:41.095
So you can't use that one.
784
00:36:41.556 --> 00:36:42.817
You've already got me thinking about that.
785
00:36:42.937 --> 00:36:45.138
I've thought about it for years, but you've resurrected it for me.
786
00:36:46.499 --> 00:36:51.663
Does anything else come to mind that you think you guys are doing that CityTurf's not that I need to be thinking about?
787
00:36:51.923 --> 00:36:53.304
Well, I don't think you need to do anything.
788
00:36:53.485 --> 00:36:54.846
I think you're doing just fine.
789
00:36:54.866 --> 00:36:55.426
I don't.
790
00:36:56.987 --> 00:37:02.655
I really, really like working on CityTurf again and getting back into the marketing world.
791
00:37:02.756 --> 00:37:03.377
I really like it.
792
00:37:03.892 --> 00:37:06.933
Yeah, I think, okay, again, I don't think you should do anything.
793
00:37:07.233 --> 00:37:13.356
I think the thing that I have seen really good outsider turns from us that I haven't seen you lean into as much is probably Facebook ads.
794
00:37:14.356 --> 00:37:14.816
We do not.
795
00:37:14.956 --> 00:37:15.237
We do.
796
00:37:15.817 --> 00:37:16.277
Zero.
797
00:37:16.557 --> 00:37:20.179
The reason I think that it'd be a huge opportunity is because you know copy so well.
798
00:37:20.639 --> 00:37:21.019
Okay.
799
00:37:21.039 --> 00:37:23.600
And you're so good at identifying the pain of the customer.
800
00:37:24.500 --> 00:37:26.221
And I think that's actually where it shines.
801
00:37:26.681 --> 00:37:30.463
And I think you have been super successful in the print side in the past.
802
00:37:31.323 --> 00:37:56.752
because uh you know how to speak to the pain of the customer and that facebook is a just a it's a postcard and um i think if you were if you took that same energy towards you put towards postcards and the copy there and put towards like short form video and facebook i think you'd crush and i think it would serve you even more so because it it has so much better data and that's the part where i
803
00:37:57.972 --> 00:38:05.660
And then you could take that and scale it just the way you like it versus so many elements of print just have limitations on.
804
00:38:06.020 --> 00:38:06.981
So, hmm.
805
00:38:07.322 --> 00:38:12.026
OK, so I am heading that direction, but I got to say it's pretty far down my list of things to do.
806
00:38:12.086 --> 00:38:12.787
That's interesting.
807
00:38:13.167 --> 00:38:14.208
I'm not saying it should be the top.
808
00:38:14.369 --> 00:38:15.089
I'm just saying.
809
00:38:15.330 --> 00:38:16.371
Yeah, yeah.
810
00:38:16.391 --> 00:38:20.595
No, but you think that we could make the economics on it work quite well is what you're saying.
811
00:38:20.983 --> 00:38:23.325
Oh, yeah, I just pulled the data because I was interested.
812
00:38:23.365 --> 00:38:27.667
I pulled a couple of locations close to you, and we're getting leads for like $10.
813
00:38:28.068 --> 00:38:28.688
On Facebook?
814
00:38:29.048 --> 00:38:29.308
Yeah.
815
00:38:29.568 --> 00:38:29.769
Okay.
816
00:38:29.809 --> 00:38:30.029
Yeah.
817
00:38:30.469 --> 00:38:32.390
So, you know, I'm not saying you should do anything.
818
00:38:32.470 --> 00:38:37.894
I'm just thinking you're very good at identifying pain and then turning that pain into words.
819
00:38:38.734 --> 00:38:40.015
I get excited about it.
820
00:38:40.315 --> 00:38:44.238
I will tell you it's a project that I'm excited about and I've hired a video photography guy.
821
00:38:44.658 --> 00:38:47.700
And so I've got like a guy that can help me with this.
822
00:38:48.100 --> 00:38:54.024
But I've identified it possibly incorrectly after talking to you as lower on the list.
823
00:38:54.064 --> 00:38:57.366
First, I need to get all these other key things really running smoothly.
824
00:38:57.446 --> 00:38:58.226
So that's great.
825
00:38:58.266 --> 00:38:58.807
Thank you for that.
826
00:38:59.707 --> 00:39:03.610
The caveat to that would be like, go get someone lethal at Facebook ads.
827
00:39:03.950 --> 00:39:04.531
There's a difference.
828
00:39:04.651 --> 00:39:05.871
There's so many tiers in this.
829
00:39:06.452 --> 00:39:08.333
And just get someone incredible.
830
00:39:08.533 --> 00:39:12.456
Because if you get just someone to just run ads for you, it's useless.
831
00:39:12.496 --> 00:39:14.357
You will 5X your lead cost.
832
00:39:14.697 --> 00:39:21.562
And so I saw the difference this year getting Matt, who's the head of Augusta Leads, who knows what he's doing and spends a lot of time.
833
00:39:21.602 --> 00:39:22.202
That's all they do.
834
00:39:22.502 --> 00:39:23.883
So you hired him full time.
835
00:39:24.444 --> 00:39:25.164
For Augusta Leads.
836
00:39:25.504 --> 00:39:25.705
Yeah.
837
00:39:26.664 --> 00:39:29.485
Would you have a concern about me hiring a contractor to do that?
838
00:39:30.086 --> 00:39:30.226
No.
839
00:39:30.706 --> 00:39:41.131
No, I would just go on, like pay 500 bucks an hour, get the best of the best, have them set it up to 20 hours or less, and then maybe three to four hours a week of optimization.
840
00:39:42.611 --> 00:39:45.393
Little things, for example, like it's more of a Google thing, but...
841
00:39:46.133 --> 00:39:48.455
not showing our ads on the display network.
842
00:39:48.975 --> 00:39:53.698
We have like 9,000 websites that we've aggregated that we just know doesn't perform as well.
843
00:39:53.718 --> 00:39:54.559
You're taking them out, yeah.
844
00:39:54.819 --> 00:39:56.860
So most people are like, oh, the ads display network stinks.
845
00:39:56.880 --> 00:40:00.322
It's like, well, actually, if you narrow it down, you can crush.
846
00:40:00.582 --> 00:40:01.403
Yeah, the exclusions.
847
00:40:01.783 --> 00:40:04.765
So it's all about like just getting an absolute savage.
848
00:40:05.186 --> 00:40:08.088
I think the creative part is that you're so good at it.
849
00:40:08.768 --> 00:40:13.172
And if you get an average person to be a media buyer for you, it won't perform well.
850
00:40:13.192 --> 00:40:16.074
But if you get a great media buyer, I think you'll crush.
851
00:40:16.995 --> 00:40:17.275
Okay.
852
00:40:17.975 --> 00:40:18.536
Thank you for that.
853
00:40:19.336 --> 00:40:20.998
That's the stuff I get excited about.
854
00:40:21.912 --> 00:40:23.975
Like where I get will be engaged.
855
00:40:23.995 --> 00:40:24.716
So interesting.
856
00:40:24.796 --> 00:40:33.446
And the part that is so fun with Facebook ads compared to print is the delay between execution versus data collection.
857
00:40:33.706 --> 00:40:33.907
Yeah.
858
00:40:34.287 --> 00:40:37.170
Because you can change one thing in the ad and see the bump.
859
00:40:37.671 --> 00:40:40.755
Versus print, it's like, okay, well, like, they might call me a week later.
860
00:40:40.775 --> 00:40:43.679
I can't, like, change the offer out quickly.
861
00:40:43.779 --> 00:40:44.981
It's so much slower.
862
00:40:45.461 --> 00:40:50.468
Versus, like, we could iterate really fast in even just three weeks on a Facebook ad and get it towards crushing.
863
00:40:50.488 --> 00:40:53.372
It's like right now, I can say this now because it's almost July 4th.
864
00:40:53.652 --> 00:40:59.375
Like right now, if you throw a July 4th something inside the ad and reference July 4th, you'll just crush.
865
00:40:59.435 --> 00:41:04.237
Like all of our Facebook ads right now are showing like get your property ready for July 4th.
866
00:41:04.317 --> 00:41:04.857
It's coming up.
867
00:41:04.877 --> 00:41:07.818
It's the best holiday of the season for your outdoor living area.
868
00:41:08.038 --> 00:41:12.380
Like little stuff like that on the creative side, I think you'll just dominate.
869
00:41:13.541 --> 00:41:13.881
All right.
870
00:41:14.321 --> 00:41:14.661
Very good.
871
00:41:14.701 --> 00:41:14.962
Thank you.
872
00:41:16.629 --> 00:41:16.929
All right.
873
00:41:17.369 --> 00:41:17.849
Next one.
874
00:41:18.189 --> 00:41:19.990
So based on what you know about me.
875
00:41:20.010 --> 00:41:21.650
Okay.
876
00:41:21.790 --> 00:41:25.171
And maybe what, you know, it's like, I think you know a decent amount about me.
877
00:41:25.511 --> 00:41:29.392
This is like the son having to tell the dad how to like run the personal finances of the family.
878
00:41:29.492 --> 00:41:30.572
Like what in the world?
879
00:41:31.613 --> 00:41:33.113
Hey, man, I bet you've got.
880
00:41:33.133 --> 00:41:34.693
Riley, what do you think about your dad?
881
00:41:34.713 --> 00:41:36.114
You think he's doing a better job?
882
00:41:36.194 --> 00:41:36.694
I would ask.
883
00:41:36.914 --> 00:41:38.434
Riley's really well put together.
884
00:41:38.494 --> 00:41:38.814
I ask.
885
00:41:39.194 --> 00:41:40.835
I have conversations with Riley.
886
00:41:40.875 --> 00:41:42.235
Like I value his opinion.
887
00:41:42.535 --> 00:41:43.015
You've done it.
888
00:41:43.035 --> 00:41:43.555
You're 30.
889
00:41:43.575 --> 00:41:44.556
You've done a ton of stuff.
890
00:41:44.596 --> 00:41:45.316
So are you 30 or 31?
891
00:41:45.336 --> 00:41:45.396
30.
892
00:41:46.776 --> 00:41:46.976
Okay.
893
00:41:47.477 --> 00:41:48.617
All right.
894
00:41:48.637 --> 00:41:50.718
So based on, but we are in the same world.
895
00:41:51.159 --> 00:41:52.780
So I just curious what you're going to say to this.
896
00:41:52.800 --> 00:42:02.025
So based on what you know about me and kind of how I think and my expertise and what you see me do, what would you tell me that you think I should be doing from a work standpoint right now?
897
00:42:02.265 --> 00:42:08.710
My first thought went towards media because it has been 10 years I've been making content.
898
00:42:08.750 --> 00:42:10.011
I feel like I'm on this grind.
899
00:42:10.292 --> 00:42:14.595
You have the stories and you have an incredible resume.
900
00:42:14.915 --> 00:42:20.300
And I would not say to necessarily give your number or be more open about that.
901
00:42:20.320 --> 00:42:27.406
But I do think the type of media and the format that you deliver in, if done correctly, could just crush.
902
00:42:27.666 --> 00:42:27.866
And...
903
00:42:29.207 --> 00:42:31.627
You also have a Rolodex that is like really, really solid.
904
00:42:31.687 --> 00:42:34.728
You know so many people with incredible businesses.
905
00:42:35.228 --> 00:42:42.209
And I think your comfortable format is interviewing and podcasting and long format.
906
00:42:43.030 --> 00:42:48.231
And I'd be really interested to see you getting really good at packaging and then shortening.
907
00:42:48.771 --> 00:42:55.952
Not like how long, not necessarily shortening the conversation, but like how do you make a 10-minute video with a friend of yours instead of a three-hour video?
908
00:42:56.252 --> 00:42:56.492
Yeah.
909
00:42:56.792 --> 00:42:57.212
Okay.
910
00:42:57.253 --> 00:43:00.814
That 10 minute video is only like no one else has access to them.
911
00:43:01.474 --> 00:43:02.815
They're not a credible entrepreneur.
912
00:43:03.075 --> 00:43:08.418
You have that pool of people and I would love to see them highlighted for my own selfish sake.
913
00:43:08.898 --> 00:43:17.182
And then being done in a format though, from a media perspective, that's more digestible versus like, I will watch your three hour podcast.
914
00:43:17.542 --> 00:43:18.703
But other people won't.
915
00:43:19.243 --> 00:43:21.465
And so I would love to see everything that you've done.
916
00:43:21.485 --> 00:43:24.828
I like to put a microphone and megaphone to it.
917
00:43:25.048 --> 00:43:26.890
It's like partly why we started this show.
918
00:43:27.370 --> 00:43:34.516
Partly one of my reasons for doing it was to be able to pass those things on to the next generation of entrepreneurs and specifically in home services.
919
00:43:35.136 --> 00:43:38.879
So I would love to see like the media side just blow up for you.
920
00:43:39.520 --> 00:43:43.963
And I don't know exactly what that recipe looks like because I'm still trying to figure that out.
921
00:43:44.464 --> 00:43:44.824
But...
922
00:43:45.945 --> 00:43:48.387
I think you are already knocking on this door.
923
00:43:48.727 --> 00:43:50.008
So you'll get there.
924
00:43:50.168 --> 00:43:51.830
I don't have these answers either, but I am.
925
00:43:52.130 --> 00:43:52.810
Yeah, I'm curious.
926
00:43:52.830 --> 00:43:53.071
Okay.
927
00:43:53.311 --> 00:43:53.531
All right.
928
00:43:53.551 --> 00:43:53.751
Thank you.
929
00:43:53.771 --> 00:43:54.111
It's so hard.
930
00:43:54.392 --> 00:43:57.654
It's so funny when people are like, oh, they just make content and they do.
931
00:43:57.694 --> 00:43:59.756
It's like, you know how hard it is to do this?
932
00:44:00.216 --> 00:44:00.516
It is.
933
00:44:01.077 --> 00:44:01.577
It is hard.
934
00:44:02.458 --> 00:44:03.238
Oh, man.
935
00:44:03.319 --> 00:44:04.880
And it's hard to get the feedback.
936
00:44:06.441 --> 00:44:07.742
It's such a broad audience.
937
00:44:07.822 --> 00:44:08.803
What do you care about?
938
00:44:08.823 --> 00:44:09.243
What do you like?
939
00:44:09.283 --> 00:44:10.004
What do you value?
940
00:44:10.444 --> 00:44:15.068
Because you could have a video that people actually care about, but the packaging wasn't that good.
941
00:44:15.628 --> 00:44:16.348
And so nobody saw it.
942
00:44:17.048 --> 00:44:18.329
It's really complicated.
943
00:44:18.709 --> 00:44:22.330
And then it's like, you got to balance what you want to make, because I'm interested in certain things.
944
00:44:22.630 --> 00:44:25.831
But then like, so recently, I was like, okay, I put a poll up.
945
00:44:25.851 --> 00:44:26.851
I'm like, guys, do you want to hear?
946
00:44:26.871 --> 00:44:28.412
I like three different types of content.
947
00:44:28.512 --> 00:44:32.973
It was like, more turnarounds, studio videos, kind of listicles, etc.
948
00:44:33.013 --> 00:44:36.214
Or do you want to hear more about my businesses, like how I run my business?
949
00:44:36.314 --> 00:44:41.236
And it was like 50% plus of the three options was, we want to hear more about how you operate.
950
00:44:41.849 --> 00:44:42.389
Oh, really?
951
00:44:42.489 --> 00:44:42.750
Okay.
952
00:44:42.770 --> 00:44:43.570
Yeah.
953
00:44:43.650 --> 00:44:43.830
Yeah.
954
00:44:43.951 --> 00:44:45.351
I made like five or six of those videos.
955
00:44:45.652 --> 00:44:50.855
We're talking about like five to 10% of the views compared to a regular video on my channel.
956
00:44:51.156 --> 00:44:51.456
Oh, okay.
957
00:44:51.476 --> 00:44:56.039
And so it's tough though, because now you have people like we have a whole team.
958
00:44:56.339 --> 00:44:57.760
I got to make sure the team gets fed.
959
00:44:58.120 --> 00:44:59.141
They have salaries.
960
00:44:59.421 --> 00:45:01.823
I can't just be like, I'm doing this because I'm interested in it.
961
00:45:02.083 --> 00:45:03.244
It needs to be packaged well.
962
00:45:03.564 --> 00:45:04.725
It needs to have a good thumbnail.
963
00:45:04.745 --> 00:45:05.686
It needs to have a good hook.
964
00:45:06.206 --> 00:45:17.034
And so what's also interesting, the thing that's helped me, though, is tracking link clicks and realizing that a video that might get 300,000 views might drive, let's just call it 200 leads.
965
00:45:17.374 --> 00:45:22.799
A another view of it video, though, that is really, really focused on my ICP, like who I'm going after.
966
00:45:23.119 --> 00:45:24.700
People are really interested in my core audience.
967
00:45:25.280 --> 00:45:29.464
It might do 4000 views and drive 100 clicks or 100 leads.
968
00:45:30.324 --> 00:45:38.168
Um, so we've been recently tracking the click on every single video for every single platform for every single business.
969
00:45:38.848 --> 00:45:46.531
And that has helped me realize that the vanity metrics of views aren't all that they're made out to be in terms of driving business results.
970
00:45:47.091 --> 00:45:50.633
And when you say clicks, are you talking like end card or are you talking in the description?
971
00:45:51.431 --> 00:45:52.291
Mostly the description.
972
00:45:52.431 --> 00:45:54.352
You can track, and cards are easy.
973
00:45:55.132 --> 00:45:57.633
QR codes, we have QR codes, we track those.
974
00:45:58.513 --> 00:46:01.534
But now in the description, we have individual links for every video.
975
00:46:01.554 --> 00:46:09.797
It takes a little bit longer, but then you have really good granular detail, like what videos drive business results versus which ones just get a bunch of views.
976
00:46:10.057 --> 00:46:10.477
I see.
977
00:46:10.817 --> 00:46:11.537
And it is interesting.
978
00:46:12.038 --> 00:46:15.819
Nonetheless, for anyone that says making content is easy, it is hard.
979
00:46:15.839 --> 00:46:15.939
Yeah.
980
00:46:16.820 --> 00:46:17.100
It is.
981
00:46:17.542 --> 00:46:21.752
Even when you have a $40,000 dog that you bring on for a great hook.
982
00:46:21.973 --> 00:46:22.976
A great hook.
983
00:46:23.156 --> 00:46:24.720
And still you can't get views.
984
00:46:25.282 --> 00:46:26.002
This is Oliver.
985
00:46:26.482 --> 00:46:27.323
We call him Ollie.
986
00:46:27.683 --> 00:46:29.303
He's a 10-year-old French bulldog.
987
00:46:29.824 --> 00:46:36.786
And I've got at least $40,000 invested in this guy, $3,000 to buy him, and the rest, keeping him here.
988
00:46:37.026 --> 00:46:38.806
That video did not do good.
989
00:46:38.986 --> 00:46:39.447
I know.
990
00:46:39.547 --> 00:46:41.407
I was like, come on, folks.
991
00:46:41.427 --> 00:46:42.428
What are we going to do?
992
00:46:43.308 --> 00:46:43.748
Oh, man.
993
00:46:44.188 --> 00:46:44.448
All right.
994
00:46:44.568 --> 00:46:45.008
All right.
995
00:46:45.028 --> 00:46:46.829
I'm just going to lead you to the next question here.
996
00:46:47.829 --> 00:46:49.150
I have heard you mention this before.
997
00:46:50.030 --> 00:46:55.357
I have purposely not done research on this because I wanted to come to much more of a student's perspective.
998
00:46:55.797 --> 00:46:58.240
Tiger 21, you've been doing it for six years.
999
00:46:58.260 --> 00:46:59.121
Oh, yeah.
1000
00:46:59.161 --> 00:47:05.670
Let me first explain what it is and what you've learned being inside that group for the past six years.
1001
00:47:05.690 --> 00:47:05.970
Yeah.
1002
00:47:06.336 --> 00:47:14.684
So Tiger 21 is a group I had heard about and I joined after I sold Service Autopilot, but I'd heard about it previously.
1003
00:47:15.085 --> 00:47:22.252
And then when I was going through the transaction to sell Service Autopilot, I talked to a couple references of investment banks.
1004
00:47:23.172 --> 00:47:27.116
And so they're individuals that sold their companies and Tiger 21 came up several times.
1005
00:47:28.878 --> 00:47:31.840
They're like, man, I got Tiger 21 after I sold my company.
1006
00:47:31.861 --> 00:47:32.701
It was fantastic.
1007
00:47:32.761 --> 00:47:33.122
Love it.
1008
00:47:33.562 --> 00:47:39.086
So I'd heard of this thing as a financial group, and then I got it reinforced by these referrals.
1009
00:47:39.567 --> 00:47:48.034
And so Tiger 21 is basically this referral group, not referral, financial group that it's focused on finance.
1010
00:47:48.334 --> 00:47:49.875
And there are chapters all over the world.
1011
00:47:50.416 --> 00:47:51.757
I think they're like, I don't know.
1012
00:47:52.077 --> 00:47:54.297
1,700, 1,900 people in it.
1013
00:47:54.597 --> 00:47:56.318
I don't know the exact number around the world.
1014
00:47:56.338 --> 00:47:58.118
I think when I got in, there was under 1,000.
1015
00:47:59.258 --> 00:47:59.758
I don't know.
1016
00:48:00.039 --> 00:48:01.339
Some would call this the Illuminati.
1017
00:48:02.319 --> 00:48:03.519
Yes, it's the Illuminati.
1018
00:48:03.899 --> 00:48:04.159
Yes.
1019
00:48:05.700 --> 00:48:07.860
It is a very, very successful group.
1020
00:48:09.260 --> 00:48:09.560
It is.
1021
00:48:09.980 --> 00:48:11.661
It is legitimately very successful.
1022
00:48:12.301 --> 00:48:18.122
It's very, like you're not allowed to talk about the meetings at all because very private information is discussed.
1023
00:48:18.582 --> 00:48:18.802
Oh, well.
1024
00:48:19.042 --> 00:48:21.844
And so I have to, I feel like I have to be very careful what I say.
1025
00:48:21.864 --> 00:48:26.966
Let's see, maybe a couple ways to describe it would be there would be a monthly meeting.
1026
00:48:27.466 --> 00:48:28.907
And so there's local chapters.
1027
00:48:28.947 --> 00:48:31.989
So I'm in one of what I got in, there were two chapters.
1028
00:48:32.029 --> 00:48:33.810
Now I think there are six chapters in Dallas.
1029
00:48:34.250 --> 00:48:39.472
And so each chapter has about 16 people in the chapter.
1030
00:48:39.933 --> 00:48:48.317
And so like, for example, in the Dallas chapter, I know a bunch of people across different chapters because you go like tomorrow, I'll be at my Tiger 21 meeting all day long.
1031
00:48:48.797 --> 00:48:52.982
And so, you know, there'll be, call it 16 people in the room.
1032
00:48:53.102 --> 00:48:56.285
And periodically we get together with the other chapters and do stuff.
1033
00:48:56.325 --> 00:49:02.412
And so the general format of it is at the beginning of the meeting, we do a world update.
1034
00:49:02.672 --> 00:49:06.015
So what's going on in the world financially, that kind of stuff.
1035
00:49:06.436 --> 00:49:08.638
What are numbers, metrics, things like that.
1036
00:49:09.559 --> 00:49:12.042
Then we do an issues and opportunities.
1037
00:49:12.203 --> 00:49:17.670
So everybody has an, goes around and they're like, what's something personal to share?
1038
00:49:17.690 --> 00:49:20.934
Um, what's an investment you've recently made?
1039
00:49:21.775 --> 00:49:25.740
What is something you need help from, from your board of directors in this room?
1040
00:49:26.401 --> 00:49:26.701
And, um,
1041
00:49:27.482 --> 00:49:29.243
Then usually there's a fourth question.
1042
00:49:29.744 --> 00:49:30.985
This is how our chapter runs.
1043
00:49:31.085 --> 00:49:34.107
Different chapters run differently around the country or world.
1044
00:49:34.928 --> 00:49:39.932
And then the fourth question might be some question like, what do you think is going to happen with interest rates?
1045
00:49:40.272 --> 00:49:42.234
That might be a, you know, that's been a question.
1046
00:49:42.274 --> 00:49:45.716
It'll be, what do you think is going to happen with, you know, some investment?
1047
00:49:45.736 --> 00:49:48.218
I'll bet we talk about SpaceX as an example tomorrow.
1048
00:49:48.418 --> 00:49:48.939
I'll bet we do.
1049
00:49:49.619 --> 00:49:54.642
And so it'll be that's so then then we usually have lunch and we talk about all that.
1050
00:49:54.722 --> 00:50:02.545
Everybody takes a turn, talks about all that stuff and whatever you want to discuss kind of goes into goes on a list.
1051
00:50:02.565 --> 00:50:06.367
And then we we literally go around and we just everybody gives you feedback on that thing.
1052
00:50:06.748 --> 00:50:11.330
And then somebody does what's called a PD, which is called a portfolio defense.
1053
00:50:11.350 --> 00:50:11.550
Yeah.
1054
00:50:11.890 --> 00:50:18.892
You literally get up in front of the room and you lay out every single financial asset you have, where it's invested, how much money you've got.
1055
00:50:19.412 --> 00:50:27.835
You lay out your entire tax structure, how much money you spend a year, how you manage taxes, how you manage trust, everything.
1056
00:50:28.195 --> 00:50:31.076
So the idea is that you expose everything.
1057
00:50:31.116 --> 00:50:32.356
It's completely confidential.
1058
00:50:32.717 --> 00:50:33.797
And then people challenge you.
1059
00:50:34.422 --> 00:50:35.623
Like, wait, what about this?
1060
00:50:35.663 --> 00:50:36.563
Should you be doing that?
1061
00:50:37.004 --> 00:50:37.844
It's that kind of a thing.
1062
00:50:38.504 --> 00:50:43.507
And then sometimes our group will go to dinner or there will be a cocktail hour after or something like that.
1063
00:50:43.527 --> 00:50:46.149
It's usually like the meetings about six, seven hours.
1064
00:50:46.369 --> 00:50:47.550
So that's the structure of it.
1065
00:50:48.590 --> 00:50:49.691
Been in it a bunch of years.
1066
00:50:50.211 --> 00:50:53.293
I really like the people in the Dallas market.
1067
00:50:53.313 --> 00:50:55.774
A lot of very, very, very wealthy people.
1068
00:50:57.135 --> 00:51:01.458
I think most of them are pretty down to earth compared to what people would imagine.
1069
00:51:02.038 --> 00:51:04.780
Is it application based or is it like you have to have a certain net worth?
1070
00:51:04.800 --> 00:51:07.861
Like how do you get into that liquid liquid net worth above 20 million?
1071
00:51:08.122 --> 00:51:09.262
So can't count your business.
1072
00:51:09.322 --> 00:51:11.884
Can't count your real estate unless you're in the real estate business.
1073
00:51:12.204 --> 00:51:13.485
I think, I think that's how it works.
1074
00:51:14.505 --> 00:51:14.845
I don't know.
1075
00:51:15.065 --> 00:51:18.287
I, I, I, what I just know, I just know that one stat.
1076
00:51:18.367 --> 00:51:21.369
So, um, is it like a paid thing kind of like Hampton?
1077
00:51:21.589 --> 00:51:21.909
Yeah.
1078
00:51:22.370 --> 00:51:22.570
Yeah.
1079
00:51:22.590 --> 00:51:23.090
It's paid.
1080
00:51:23.110 --> 00:51:23.850
It's 33,000 a year.
1081
00:51:23.910 --> 00:51:24.251
And, um, yeah.
1082
00:51:26.872 --> 00:51:33.614
I mean, I think Hampton was largely inspired by Tiger and then changed.
1083
00:51:33.914 --> 00:51:34.814
And there's several others.
1084
00:51:34.834 --> 00:51:38.455
There's another – it's an application and a lot of people don't get in.
1085
00:51:38.855 --> 00:51:41.515
Like they really are hardcore about who gets in.
1086
00:51:42.475 --> 00:51:45.136
And there's other groups like this.
1087
00:51:45.196 --> 00:51:46.056
There's a few others.
1088
00:51:46.116 --> 00:51:50.857
And there's one that I think you have to have above 100 million network to get into it.
1089
00:51:50.897 --> 00:51:52.138
So there's a couple things like this.
1090
00:51:52.478 --> 00:51:52.998
I'm perfectly –
1091
00:51:54.333 --> 00:51:56.594
If I were to leave the group, I wouldn't join a different one.
1092
00:51:56.694 --> 00:51:57.455
I'm happy here.
1093
00:51:57.935 --> 00:52:00.496
If I were to leave the group, I'd be joining a normal business group.
1094
00:52:00.956 --> 00:52:04.198
And what have your biggest takeaways been now that you've been there for six years?
1095
00:52:04.678 --> 00:52:08.420
Obviously, a lot of really cool people, wealthy people.
1096
00:52:08.560 --> 00:52:09.740
What are some of your biggest takeaways?
1097
00:52:10.041 --> 00:52:11.541
Everybody's an expert.
1098
00:52:11.621 --> 00:52:12.342
They've got a thing.
1099
00:52:13.202 --> 00:52:18.445
So I think maybe one of the biggest ideas that I might have had is I was going to...
1100
00:52:18.825 --> 00:52:21.066
It's the same thing that happened to me when I sold Service Autopilot.
1101
00:52:21.186 --> 00:52:22.827
So I sell the Service Autopilot business.
1102
00:52:23.765 --> 00:52:24.846
We have a leadership team.
1103
00:52:25.226 --> 00:52:31.131
We do all kinds of planning and like, we'll just call it meetings, like where you're trying to figure stuff out.
1104
00:52:31.411 --> 00:52:36.195
So you go sit in a board meeting after I sell the business at the explore level.
1105
00:52:36.716 --> 00:52:39.558
And, you know, I just thought it was going to go into a world where it's like,
1106
00:52:39.698 --> 00:52:45.282
wow, when you're dealing in hundreds and hundreds of millions of annual revenue, that I was going to have all these wow moments.
1107
00:52:45.343 --> 00:52:49.926
And it's like, you know, learned a few things, but it's largely the exact same thing, just executed with bigger numbers.
1108
00:52:50.286 --> 00:52:52.808
That was my, like, so I was a little disappointed.
1109
00:52:52.828 --> 00:52:58.133
And I really smart people, like legitimately smart people, but we weren't stupid people either.
1110
00:52:58.173 --> 00:52:59.834
Like we were operating at a decent level.
1111
00:52:59.854 --> 00:53:02.917
It's like, I definitely learned things, but it's like, I just thought there was going to be this
1112
00:53:03.657 --> 00:53:06.038
oh my gosh, I never thought of that kind of moment.
1113
00:53:06.139 --> 00:53:10.321
It's more like just do the basics, do the blocking and tackling and execute on it really well.
1114
00:53:11.041 --> 00:53:21.307
Well, kind of coming into Tiger, I had this idea that you're coming into a world of people that probably have a tremendous amount of knowledge at a financial level.
1115
00:53:21.668 --> 00:53:27.071
And the people that do are the people that do financial, like do investing as a career.
1116
00:53:27.311 --> 00:53:30.133
But then you've got people that are real estate people
1117
00:53:30.853 --> 00:53:33.756
And if you look at their portfolio, it's heavily weighted towards real estate.
1118
00:53:33.776 --> 00:53:35.978
And they've got other investments, but that's their lane.
1119
00:53:36.479 --> 00:53:38.901
Then you've got business guys like me that are operators.
1120
00:53:39.162 --> 00:53:40.123
That's their lane.
1121
00:53:40.183 --> 00:53:41.904
And they've got knowledge in other things.
1122
00:53:42.465 --> 00:53:46.629
And so I think one of the big things I learned was like, we're all just human at the end of the day.
1123
00:53:46.689 --> 00:53:48.832
We have expertise in an area.
1124
00:53:49.152 --> 00:53:49.632
And then we...
1125
00:53:50.253 --> 00:53:53.374
We have general expertise in lots of other areas.
1126
00:53:53.414 --> 00:53:56.396
And some of us are stronger in certain investing than others.
1127
00:53:56.456 --> 00:54:00.197
But just because you're really good at one modality does not mean you're a good investor.
1128
00:54:00.417 --> 00:54:03.799
And I'm not saying that people are, there's something wrong with the people in the group.
1129
00:54:03.819 --> 00:54:04.199
I don't mean that.
1130
00:54:04.219 --> 00:54:10.322
It's just like, you just really quickly realize we can all only really be incredibly good at a few things.
1131
00:54:11.022 --> 00:54:12.883
And so you might be a wonderful operator.
1132
00:54:13.423 --> 00:54:19.626
And then when you come into the investing environment, you might be good, but you're not exceptional as compared to other people in the group.
1133
00:54:20.206 --> 00:54:20.847
That's one thing.
1134
00:54:20.927 --> 00:54:23.529
The other thing is everybody's human.
1135
00:54:23.709 --> 00:54:25.770
Everybody worries about all the same stuff.
1136
00:54:26.230 --> 00:54:29.013
The biggest thing everybody worries about is their kids.
1137
00:54:30.614 --> 00:54:39.080
People aren't sitting around like, yeah, of course, you want to grow your wealth, but the conversations are about all the human stuff, your family, your kids, your kids.
1138
00:54:39.140 --> 00:54:40.021
It's all about the kids.
1139
00:54:40.201 --> 00:54:42.282
Like, how are they going to turn out in life with the money?
1140
00:54:42.883 --> 00:54:44.344
You know, how do you pass money to them?
1141
00:54:44.364 --> 00:54:45.665
What are they doing in their careers?
1142
00:54:45.705 --> 00:54:46.725
How are their marriages?
1143
00:54:47.046 --> 00:54:48.366
Like, it's all that kind of stuff.
1144
00:54:48.386 --> 00:54:55.752
It's like everybody's human and everybody worries about the stock market because the stock market moves every day and you can see it move.
1145
00:54:55.792 --> 00:55:01.576
But if you're in a private equity portfolio or in your venture or you're in real estate, you can't see the valuation moving.
1146
00:55:02.176 --> 00:55:08.620
So when you hear people's language, they're way more worried about stocks than they were private equity or real estate.
1147
00:55:09.000 --> 00:55:11.002
And that's just a very human thing.
1148
00:55:11.062 --> 00:55:16.225
And so to me, there's a lot of incredibly smart people that are making really smart decisions.
1149
00:55:16.345 --> 00:55:19.267
And we have great – it surfaces great conversations.
1150
00:55:19.287 --> 00:55:20.128
But in the day –
1151
00:55:20.888 --> 00:55:23.089
You know, it's every everybody's still trying to figure it out.
1152
00:55:23.529 --> 00:55:25.751
And everybody worries about the same stuff in life.
1153
00:55:25.771 --> 00:55:27.592
That would probably be one of my big takeaways.
1154
00:55:27.852 --> 00:55:33.915
Now, I can kind of talk about how people invest, but I think that emotional element is really important to understand.
1155
00:55:34.135 --> 00:55:40.339
Yeah, I think sometimes two people, when they join a community, they think it is going to be this like unlock or this massive aha moment.
1156
00:55:40.359 --> 00:55:41.960
And then they get in there, like almost disappointed.
1157
00:55:41.980 --> 00:55:42.080
Yeah.
1158
00:55:42.800 --> 00:55:45.502
Because they realize that other people are going to assist through the same problems.
1159
00:55:45.903 --> 00:55:50.066
They don't have this infinite level of knowledge that they thought they had from the outside looking in.
1160
00:55:50.587 --> 00:55:59.514
And so what's the value of still staying in a community like that, where it's not like this aha, you're not, you know, everyone's not leagues ahead of you.
1161
00:55:59.534 --> 00:56:02.857
You actually feel like you're probably contributing to other people in the group as well.
1162
00:56:03.257 --> 00:56:05.159
Why still stay in a group like that for six years?
1163
00:56:05.159 --> 00:56:15.362
I don't know if I'll stay in it forever, but because we travel a lot or we've dialed it back a little bit, well, a lot, I would be gone and miss meetings.
1164
00:56:15.422 --> 00:56:19.763
I was really trying to plan my travel as best I could to miss as few Tiger meetings as possible.
1165
00:56:20.144 --> 00:56:24.245
So I'd have this feeling because I'll be gone for a while and I'm driving to the meeting.
1166
00:56:24.305 --> 00:56:25.525
This has happened to me multiple times.
1167
00:56:25.545 --> 00:56:28.286
Like, I don't know if I, why am I still doing this?
1168
00:56:28.546 --> 00:56:31.467
You know, because I haven't really invested in many deals.
1169
00:56:31.487 --> 00:56:34.528
There's a ton of opportunity to invest in deals inside Tiger.
1170
00:56:35.308 --> 00:56:36.269
And that's another thing.
1171
00:56:36.289 --> 00:56:38.371
Somebody presents to us every month.
1172
00:56:38.911 --> 00:56:40.573
And so you get access to deals.
1173
00:56:41.554 --> 00:56:43.715
That's a really actually important thing I didn't say.
1174
00:56:44.396 --> 00:56:46.338
And a lot of people do invest in those deals.
1175
00:56:46.618 --> 00:56:47.238
I just don't.
1176
00:56:47.459 --> 00:56:51.602
I figured out what my investment philosophy is, and I'm just executing my playbook.
1177
00:56:51.882 --> 00:56:52.363
And I'm good.
1178
00:56:52.723 --> 00:56:55.065
So I don't get that benefit from the group.
1179
00:56:55.105 --> 00:56:56.766
And so sometimes going to the group, I'm like...
1180
00:56:57.487 --> 00:56:59.349
I don't know, this is taking up time on my calendar.
1181
00:56:59.389 --> 00:57:00.009
Should I do this?
1182
00:57:00.049 --> 00:57:03.832
And then every time I, after I leave the meeting, it's like, there's no way I'm leaving.
1183
00:57:04.373 --> 00:57:11.258
And so I think it's this element of, it's not that you need to get something out of it every single week or month, better said.
1184
00:57:11.399 --> 00:57:21.046
It's like when you need something or you have a question or you're just trying to think through something or you listen to other people thinking through their challenges, once you get to a high level of wealth,
1185
00:57:21.827 --> 00:57:26.788
and tax complication and trust complication, like one answer pays for a lot.
1186
00:57:27.148 --> 00:57:31.529
It doesn't take much to get all your money back.
1187
00:57:31.749 --> 00:57:34.050
And I really like the people a lot.
1188
00:57:34.110 --> 00:57:37.310
And so it's the way I think about it is literally that simple.
1189
00:57:37.430 --> 00:57:39.231
It keeps me way more informed.
1190
00:57:39.771 --> 00:57:44.452
It keeps me in front of a lot of people have very different perspectives on business and life and investing.
1191
00:57:44.472 --> 00:57:44.572
Yeah.
1192
00:57:45.172 --> 00:57:47.434
It gives me when I need something, I could call.
1193
00:57:47.495 --> 00:57:51.298
Like we had a fellow in our group that he was traveling somewhere and something happened.
1194
00:57:51.358 --> 00:57:56.884
And somebody in Tiger, not even in the Dallas chapter, set a private jet to pick him up and get him back to Dallas.
1195
00:57:57.445 --> 00:57:58.506
You hear those stories all the time.
1196
00:57:58.526 --> 00:58:01.549
It's a very tight-knit group of people that will do anything.
1197
00:58:02.029 --> 00:58:05.092
I feel like I could call anybody in Tiger and they'll take the call.
1198
00:58:05.993 --> 00:58:10.736
And there's just a lot of little things like that that are incredibly valuable.
1199
00:58:11.237 --> 00:58:21.283
So if someday, as an example, I had a medical emergency, there's an infinite number of people I could get on the phone that would get me in somewhere that I wouldn't be able to get in otherwise.
1200
00:58:21.863 --> 00:58:23.104
And that's just relationships.
1201
00:58:23.184 --> 00:58:24.625
It's back to that network concept.
1202
00:58:24.825 --> 00:58:35.052
And so those are the little reasons why it's like, okay, I can't point to, I just saved $33,000 this month, but I can over time say that I'm convinced I get, it's worth every dollar.
1203
00:58:35.376 --> 00:58:46.060
It's interesting, too, that you say that the things that they worry about or talk about the most are actually now nothing to do with the money or less to do with the money and more about the human aspects of life.
1204
00:58:46.360 --> 00:58:50.062
Yeah, I mean, the whole group's a financial group, but people are good.
1205
00:58:50.102 --> 00:58:52.643
Like, I just like people like the game.
1206
00:58:52.683 --> 00:58:53.483
They're playing their games.
1207
00:58:53.963 --> 00:58:56.305
They're playing the game because they like what they do.
1208
00:58:56.345 --> 00:58:57.646
And of course, they think about their money.
1209
00:58:57.666 --> 00:58:58.707
And of course, they want to grow it.
1210
00:58:58.727 --> 00:58:59.888
They want to see their number go up.
1211
00:58:59.928 --> 00:59:03.731
But my experience, and again, there's groups all over the world.
1212
00:59:03.791 --> 00:59:09.436
My experience in the Dallas group is like most people feel generally like I'm fine.
1213
00:59:09.737 --> 00:59:10.237
I'm good.
1214
00:59:10.798 --> 00:59:13.019
And they're worried about other stuff at this point.
1215
00:59:13.039 --> 00:59:14.841
And they're just playing the game because –
1216
00:59:16.022 --> 00:59:16.663
They like doing it.
1217
00:59:16.723 --> 00:59:20.887
And then another thing I observe is that people get caught.
1218
00:59:21.287 --> 00:59:23.849
Like all of us, you get caught in a trap where you just keep going.
1219
00:59:24.089 --> 00:59:25.591
This is what I've been doing for 25 years.
1220
00:59:25.611 --> 00:59:26.672
This is what I'm going to keep doing.
1221
00:59:27.112 --> 00:59:31.576
And so like I travel so much and people are like, man, I would like to do all that traveling.
1222
00:59:31.596 --> 00:59:31.977
And I'm like,
1223
00:59:35.938 --> 00:59:37.618
you could do, you never need to work again.
1224
00:59:37.658 --> 00:59:38.559
You could do all this traveling.
1225
00:59:38.579 --> 00:59:45.141
But so Pete, we all have this risk of getting stuck and not doing all these other things we'd like to do.
1226
00:59:45.681 --> 00:59:49.783
And that happens even at this level in a major way, because you have so many responsibilities.
1227
00:59:51.603 --> 00:59:53.844
I don't think I'm saying anything I shouldn't be saying publicly.
1228
00:59:55.545 --> 01:00:04.808
Another observation is smaller owners or people that own smaller businesses get trapped in their business and they don't know how to find the key people to run their companies.
1229
01:00:05.208 --> 01:00:07.329
That happens at a very, very high level.
1230
01:00:07.769 --> 01:00:10.830
Companies are doing massive amounts of money.
1231
01:00:11.550 --> 01:00:17.132
the same exact problem, like how do I find the person that can really free me up?
1232
01:00:17.172 --> 01:00:21.774
You're doing massive money, but you're the CEO and you're still literally stuck in the business.
1233
01:00:22.134 --> 01:00:26.395
That still happens at huge numbers, huge numbers.
1234
01:00:26.695 --> 01:00:29.817
And people are still worried about what will happen to their business if they hand it over.
1235
01:00:30.357 --> 01:00:31.077
That doesn't change.
1236
01:00:31.617 --> 01:00:32.558
There's lots of that stuff.
1237
01:00:33.578 --> 01:00:36.539
Something else I'd tell you is most people are investing in assets.
1238
01:00:36.979 --> 01:00:37.819
Like they own things.
1239
01:00:40.790 --> 01:00:51.475
they own deals, businesses, they're invested in private credit, they're invested in public equity, they're invested in venture, like their money is heavily locked up.
1240
01:00:52.596 --> 01:00:55.818
You know, people have liquidity, but a lot of money is not liquid.
1241
01:00:55.838 --> 01:00:56.298
Yeah.
1242
01:00:56.698 --> 01:00:58.461
And that's a really common thing you'll see.
1243
01:00:58.481 --> 01:01:06.653
So they're going to, people are going to be in, and if you were to just look up ultra high net worth individuals, you'll find that this is a pretty common story.
1244
01:01:06.733 --> 01:01:08.035
It's not just a tiger story.
1245
01:01:08.095 --> 01:01:11.420
And tiger does make this data public of how people invest their money.
1246
01:01:12.000 --> 01:01:13.881
So I'm not saying anything too private here.
1247
01:01:14.542 --> 01:01:27.729
But if you look, you'll find that they're invested in private equity, real estate, public equity, fixed income, private credit, hedge funds, Bitcoin, commodities, all that.
1248
01:01:27.769 --> 01:01:33.153
It's like they have allocations in lots of different places all inside their portfolios.
1249
01:01:33.973 --> 01:01:37.775
And then if you're a real estate guy, you're going to be totally cool with tons of debt.
1250
01:01:38.435 --> 01:01:41.977
If you're not a real estate guy, you'll probably be less comfortable with lots of debt.
1251
01:01:42.437 --> 01:01:44.398
Most of the people that I know have their homes paid for.
1252
01:01:44.438 --> 01:01:48.740
It's like things like, it's just, you know, it's all over the board, but that's some of the things I've learned.
1253
01:01:48.940 --> 01:01:49.360
Very cool.
1254
01:01:49.960 --> 01:01:56.864
I have played with the idea of doing some sort of like higher tier of home service business owner and it being like non-business almost.
1255
01:01:57.244 --> 01:02:04.667
Like whether it be like investing or trusts or just like – but more like relationship, lifestyle, health, travel, things like that.
1256
01:02:04.727 --> 01:02:06.048
Just I've played with the idea.
1257
01:02:06.388 --> 01:02:11.051
Even just seeing like what you do with Academy and like the relationships that were formed inside the community.
1258
01:02:11.091 --> 01:02:12.251
I still run into people all the time.
1259
01:02:12.271 --> 01:02:14.932
And they're like, oh, yeah, like I met that person in Academy.
1260
01:02:15.053 --> 01:02:15.633
I'm like, yeah.
1261
01:02:16.053 --> 01:02:23.558
There's got to be something at that level where it's not just how to do sales and how to do your door hanger, but it's like it's a little higher level.
1262
01:02:24.379 --> 01:02:29.082
I've thought about doing the same thing as I've thought about what I'm going to, you know, what I thought about what I was going to do next.
1263
01:02:29.182 --> 01:02:33.245
And I will tell you, it's one of the best things I ever did was Academy.
1264
01:02:33.846 --> 01:02:35.007
I really, really liked it.
1265
01:02:35.167 --> 01:02:42.232
So it's something I recommend, but I will tell you, I do not think it's the best use of your time or money compared to what you've got right now.
1266
01:02:42.672 --> 01:02:49.455
So if you're optimizing for what might make you give you the most enjoyment personally and satisfaction, yes.
1267
01:02:49.675 --> 01:02:56.138
If you're optimizing for building wealth and a big giant thing, you don't do it.
1268
01:02:56.418 --> 01:02:57.398
It's very distracting.
1269
01:02:57.618 --> 01:02:59.979
Remember what JP50 said to JP30.
1270
01:03:00.480 --> 01:03:02.761
He said not to worry about the money as much.
1271
01:03:02.781 --> 01:03:03.521
Agreed.
1272
01:03:03.681 --> 01:03:05.642
Yeah, that's the question you have to ask yourself.
1273
01:03:06.162 --> 01:03:06.763
Yeah, 100%.
1274
01:03:07.363 --> 01:03:07.583
Yeah.
1275
01:03:08.104 --> 01:03:08.384
Okay.
1276
01:03:08.424 --> 01:03:09.305
But it's good.
1277
01:03:09.665 --> 01:03:11.907
We're going to move to the last question on the docket.
1278
01:03:12.667 --> 01:03:17.531
And this is, I think someone had asked this and we kind of tailor it a little bit for the show.
1279
01:03:18.011 --> 01:03:25.057
But what mindset do you see as the biggest obstacle for entrepreneurs going from zero to a million and then from one million to 10 million?
1280
01:03:25.077 --> 01:03:27.379
So I'll give my two cents and then I'll volley back to you.
1281
01:03:28.079 --> 01:03:29.120
I kind of tried to break it down.
1282
01:03:29.220 --> 01:03:35.926
So from zero to a million, I see the constraint mostly just selling and then beginning stages of management.
1283
01:03:36.626 --> 01:03:50.538
So figuring out how to sell, whether it be online, digital, print, just getting a sale, identifying the pain of the customer, having an offer that's appealing, and then being able to actually consummate that sale and get enough of them.
1284
01:03:51.178 --> 01:03:55.122
And then management, because you have to typically get to a million, you need employees.
1285
01:03:55.662 --> 01:03:57.764
And so how do I actually manage employees?
1286
01:03:58.445 --> 01:04:00.507
But from a million to 10 million, I think it really switches.
1287
01:04:00.767 --> 01:04:08.755
And I think a lot of times people just think at a million, what I have seen be a limiting belief is like, oh, I'll just keep doing what I've done to get to a million.
1288
01:04:09.255 --> 01:04:11.897
And I'll get to a million, I'll double it, and I'll triple it, and I'll go to 3 million.
1289
01:04:11.917 --> 01:04:12.358
Yeah.
1290
01:04:12.638 --> 01:04:22.964
Versus from a million plus, especially getting closer to 10 million, I see leadership and decision making as really the skills that are required and leadership being very different than management.
1291
01:04:24.805 --> 01:04:36.252
And requiring now to hire managers underneath you as the founder, the leader of the organization, that being a very different skill than managing the technicians or the managers.
1292
01:04:36.312 --> 01:04:37.173
frontline team members.
1293
01:04:37.773 --> 01:04:38.954
And so that's kind of how I bucket it.
1294
01:04:38.994 --> 01:04:41.576
It was like zero to a million is sales and management.
1295
01:04:42.256 --> 01:04:46.199
Very entry-level management, I would say, because you usually need five, six, seven, maybe employees.
1296
01:04:46.680 --> 01:04:50.022
And then as you get to 10 million, it's more about leadership, decision-making.
1297
01:04:50.562 --> 01:04:53.645
No, I'll say for you, it's breathing and smiling, things like that.
1298
01:04:54.638 --> 01:04:55.559
Totally agree with that.
1299
01:04:55.999 --> 01:04:57.760
I have two different ones, but I totally agree.
1300
01:04:58.140 --> 01:05:03.763
And with the 5 for 50 thing, I've got this thing that I haven't finished called these roadmaps.
1301
01:05:03.983 --> 01:05:06.125
And so I think about the business as two engines.
1302
01:05:06.957 --> 01:05:10.058
like the revenue engine and the recruiting engine for people.
1303
01:05:10.438 --> 01:05:13.438
And so it's sort of aligned with what you said.
1304
01:05:13.658 --> 01:05:16.059
The revenue engine is the really important one under a million.
1305
01:05:16.699 --> 01:05:19.480
And then the recruiting is the one after.
1306
01:05:19.960 --> 01:05:21.240
So let me give my two answers.
1307
01:05:21.260 --> 01:05:23.360
So I'll do the one to 10 million first.
1308
01:05:23.840 --> 01:05:31.042
It really becomes, it's about, I agree with what you said about leadership, but my answer was it's very much about people, which is a leadership thing.
1309
01:05:31.062 --> 01:05:34.903
It's like getting the right people on the team and getting good at finding people.
1310
01:05:35.083 --> 01:05:36.763
Like that's really important.
1311
01:05:36.963 --> 01:05:37.824
really important.
1312
01:05:38.264 --> 01:05:51.936
And so if you're not finding the right people, you're either not able to grow, and so then you shut down the revenue machine, or you are growing, but you're just letting the wrong people on the team and you end up with a company you despise because you have the wrong people.
1313
01:05:52.216 --> 01:05:52.757
You hate it.
1314
01:05:52.837 --> 01:05:54.058
It feels painful and hard.
1315
01:05:54.578 --> 01:05:58.181
And so the people side after a million is just so critical.
1316
01:05:58.862 --> 01:06:04.788
On the zero to one million, I agree with what you said, which is aligned with what I talk about in the roadmap.
1317
01:06:04.808 --> 01:06:08.451
But I went with this idea that nobody can do it as good as me.
1318
01:06:08.691 --> 01:06:15.537
If you look at a lot of companies that get stuck at around 350,000 in revenue or half a million revenue, it's a story of...
1319
01:06:16.218 --> 01:06:19.379
It's a story of maybe they don't have the money to hire the person or they don't know who to hire.
1320
01:06:19.419 --> 01:06:24.522
But it's also a story of they can't install this thing like I install it.
1321
01:06:24.562 --> 01:06:26.322
They can't design it like I designed.
1322
01:06:26.362 --> 01:06:27.843
They can't sell it like I sell it.
1323
01:06:28.143 --> 01:06:29.103
They can't do the work.
1324
01:06:30.184 --> 01:06:32.805
They're not going to be as good at the front door, Ms. Smith, as I am.
1325
01:06:33.245 --> 01:06:36.206
It's a lot of stories of nobody can do it like me.
1326
01:06:36.627 --> 01:06:39.548
And so you don't hand off the tasks.
1327
01:06:40.028 --> 01:06:41.869
You don't trust somebody else.
1328
01:06:42.269 --> 01:06:45.571
You don't invest enough in another person to train them up so they can be as good as you.
1329
01:06:45.752 --> 01:06:46.452
So those are my two.
1330
01:06:47.012 --> 01:06:50.655
And I think if you can't recruit, to your point, it's almost like supply and demand.
1331
01:06:50.915 --> 01:06:54.057
Like most of the time to get to a million, you just need more demand.
1332
01:06:54.237 --> 01:06:55.057
You need more customers.
1333
01:06:55.077 --> 01:06:55.838
You need more leads.
1334
01:06:56.478 --> 01:06:59.720
But then after that engine has – you have that momentum.
1335
01:06:59.920 --> 01:07:00.821
I think you said this.
1336
01:07:00.841 --> 01:07:01.481
I apologize if not.
1337
01:07:03.562 --> 01:07:06.824
any business like doing 10 million plus, it's like it already has so much momentum.
1338
01:07:06.884 --> 01:07:07.544
Yes, I said that.
1339
01:07:07.564 --> 01:07:08.285
I believe that.
1340
01:07:08.345 --> 01:07:09.886
It's already moving so much, right?
1341
01:07:10.306 --> 01:07:13.968
And it's hard to stop it because like it just has so much momentum behind it.
1342
01:07:14.348 --> 01:07:17.209
And then it inevitably is no longer a demand issue.
1343
01:07:17.369 --> 01:07:18.370
It is a supply issue.
1344
01:07:18.410 --> 01:07:19.791
Can I get good people?
1345
01:07:20.111 --> 01:07:22.712
Can I build out a leadership and management team?
1346
01:07:23.092 --> 01:07:26.574
Can I create the systems where this all doesn't fall apart because of the weight that's being put on it?
1347
01:07:26.974 --> 01:07:31.677
And so I think it's almost like to your point, even if we boil it down lower, it's like you got to get demand.
1348
01:07:32.237 --> 01:07:37.700
And once you have enough of that, it's all about just making sure you have the supply to be able to make sure you don't fall apart.
1349
01:07:38.160 --> 01:07:39.360
Yeah, I agree.
1350
01:07:40.121 --> 01:07:45.883
I had one other little idea here that isn't really what you were asking, but your word mindset just triggered this random little idea.
1351
01:07:45.903 --> 01:07:46.984
It was a mistake I made.
1352
01:07:47.064 --> 01:07:51.166
And so I thought I'd mention it for anybody that might feel this way.
1353
01:07:51.606 --> 01:07:55.208
So when I got started in the business, I didn't really know the business.
1354
01:07:55.228 --> 01:07:59.590
The thing you have to remember is I was a high school kid that mowed lawns and trimmed bushes.
1355
01:08:00.190 --> 01:08:00.750
That's all I did.
1356
01:08:01.090 --> 01:08:04.912
Then I out of the business for years and I get back in the business for CityTurf.
1357
01:08:05.412 --> 01:08:05.612
Okay.
1358
01:08:06.052 --> 01:08:11.934
So I thought we needed to look really professional and bigger and like to compete.
1359
01:08:11.975 --> 01:08:16.936
Like when I started CityTurf, True Green Landcare was big and residential in my market.
1360
01:08:17.517 --> 01:08:19.317
So people think of True Green as fertilization.
1361
01:08:19.637 --> 01:08:22.198
The Landcare division was doing lots of maintenance.
1362
01:08:22.218 --> 01:08:24.179
There was a bunch of bigger companies.
1363
01:08:24.239 --> 01:08:25.720
It was heavily contracts.
1364
01:08:26.628 --> 01:08:28.869
And it was a very different business than it is today.
1365
01:08:28.889 --> 01:08:33.370
Like when we went selling over the phone, quoting over the phone, that was really unusual.
1366
01:08:33.750 --> 01:08:36.772
Charging a credit card, way, like crazy, unusual.
1367
01:08:37.092 --> 01:08:39.713
And so my, it's very, the business has really changed.
1368
01:08:40.193 --> 01:08:44.094
Where I'm going with that is I just felt looking at the market, I needed to be bigger.
1369
01:08:44.134 --> 01:08:49.056
And I don't know if this is a thing people feel like they want to represent themselves as bigger.
1370
01:08:49.136 --> 01:08:51.937
But the simple concept here or thought is...
1371
01:08:52.657 --> 01:08:53.558
play to your strength.
1372
01:08:53.678 --> 01:08:56.360
Like we are going to have different phases of business.
1373
01:08:56.801 --> 01:09:05.229
And when you're small, I'd play that angle up in terms of what that means to how you'll serve the client and be present with the client.
1374
01:09:05.249 --> 01:09:07.751
So as your business progresses, you're going to have
1375
01:09:07.851 --> 01:09:11.594
You can do different things to serve the client and treat them differently.
1376
01:09:12.014 --> 01:09:13.175
And I've played to that strength.
1377
01:09:13.195 --> 01:09:19.841
So just don't, I don't think it's necessary to try to represent yourself as some big company when you're not a big company.
1378
01:09:20.101 --> 01:09:29.028
I don't know if that will resonate with anybody, but that's something I also noticed in the service autopilot world that I was like, hey, you know, if it were me and I was running this business, I'd totally play the angle.
1379
01:09:29.048 --> 01:09:32.931
There's only four crews here and we are going to take care of you like nobody else.
1380
01:09:34.017 --> 01:09:34.177
Yeah.
1381
01:09:34.237 --> 01:09:39.858
And it's funny because I always say it's like you have this identity crisis because you you have that angle.
1382
01:09:39.939 --> 01:09:42.239
And I'm always a big believer in like play to your strengths.
1383
01:09:42.439 --> 01:09:51.121
Don't try to be something you're not when it comes to the size of your business, because they will inevitably be disappointed if they think you have 100 members and you show up every single week and then they don't like you.
1384
01:09:51.141 --> 01:09:52.021
And they're like, can I have someone else?
1385
01:09:52.041 --> 01:09:53.302
You're like, no, you're kind of stuck with me.
1386
01:09:55.042 --> 01:09:59.106
But then as the business grows, you eventually have to get to the point where, okay, now I don't have four crews.
1387
01:09:59.406 --> 01:10:00.527
I have 15 crews.
1388
01:10:00.787 --> 01:10:06.071
And now I've got to convince them that like I almost want to change my identity to, okay, now we are more professional.
1389
01:10:06.612 --> 01:10:08.953
And I think it's when you start trying to become something you're not.
1390
01:10:08.973 --> 01:10:15.279
And it almost shifts to where when you're bigger, you're like, okay, now I'm going to try to appear smaller because I'm trying to market to what I'm not.
1391
01:10:16.319 --> 01:10:17.881
Like Apple trying to appear small.
1392
01:10:17.921 --> 01:10:20.943
And then like you got the guy in his garage trying to appear massive.
1393
01:10:21.223 --> 01:10:21.383
Right.
1394
01:10:21.403 --> 01:10:21.904
Very interesting.
1395
01:10:21.944 --> 01:10:22.164
Yeah.
1396
01:10:22.845 --> 01:10:23.105
Agreed.
1397
01:10:23.545 --> 01:10:24.425
Okay, I want to go back.
1398
01:10:24.525 --> 01:10:27.267
We're going to go to non-financial advice in just a second, but I want to go back.
1399
01:10:27.647 --> 01:10:32.929
Because the questions at the beginning, you had better questions for me than I had for you.
1400
01:10:33.329 --> 01:10:33.589
Really?
1401
01:10:33.770 --> 01:10:33.990
Okay.
1402
01:10:34.010 --> 01:10:37.111
Yeah, because I took it from a different angle.
1403
01:10:37.451 --> 01:10:38.832
And so now I have my real questions.
1404
01:10:38.892 --> 01:10:41.353
I haven't thought about this, but in the last three minutes.
1405
01:10:42.293 --> 01:10:43.534
I couldn't let this opportunity go by.
1406
01:10:43.574 --> 01:10:47.555
So you asked really specific questions like CityTurf and Augusta.
1407
01:10:47.915 --> 01:10:49.976
So I'm going to ask you really specific questions.
1408
01:10:50.196 --> 01:10:50.516
Okay.
1409
01:10:51.077 --> 01:10:53.758
I'm going to not recant.
1410
01:10:53.778 --> 01:10:54.278
What's the word?
1411
01:10:54.338 --> 01:10:55.698
Take back my other questions, I guess.
1412
01:10:55.999 --> 01:10:57.199
You could have extra questions.
1413
01:10:57.219 --> 01:10:57.939
You have to take them back.
1414
01:10:58.019 --> 01:10:58.359
There you go.
1415
01:10:58.379 --> 01:10:59.940
Yeah, this is my third and my fourth question.
1416
01:11:00.280 --> 01:11:00.980
We're the moderators.
1417
01:11:01.000 --> 01:11:01.881
We can just do this.
1418
01:11:02.281 --> 01:11:04.442
So if you were running HomeWorks right now,
1419
01:11:05.237 --> 01:11:16.405
Knowing what you do know, which I know is limited, but like knowing what you do know about the technology space, service autopilot, where you wanted to take it, current players and even business owners that you know in the market.
1420
01:11:16.865 --> 01:11:25.711
If you were like dropped into my shoes, what would be the first things you'd be looking at or which direction would you be pushing me in the direction of focusing on?
1421
01:11:26.402 --> 01:11:28.303
I think I need a little more context there.
1422
01:11:28.323 --> 01:11:32.045
When you say focusing, are we talking about building the tech, selling to clients?
1423
01:11:32.065 --> 01:11:33.025
What do you mean exactly?
1424
01:11:33.305 --> 01:11:34.086
Great point.
1425
01:11:34.726 --> 01:11:40.109
I think just more or less, like I know when you left Service Alphabet, you have a pretty clear vision of what you wanted to build.
1426
01:11:40.469 --> 01:11:44.751
And you obviously saw that there was a need for, in the market for that development.
1427
01:11:45.078 --> 01:11:46.640
If I were to build a new thing, yeah.
1428
01:11:46.861 --> 01:11:48.803
Or even where you were taking Service All Pilot version 2.
1429
01:11:48.843 --> 01:11:49.624
Oh, yeah.
1430
01:11:50.065 --> 01:11:50.846
Oh, yeah, yeah, yeah, yeah.
1431
01:11:51.387 --> 01:11:53.329
And so- Service All Pilot was a little stuck.
1432
01:11:53.369 --> 01:11:56.594
So what I'd build now is different than what I'd build if I still own Service All Pilot.
1433
01:11:57.043 --> 01:11:57.904
Okay.
1434
01:11:58.024 --> 01:11:59.545
Oh, man.
1435
01:11:59.565 --> 01:11:59.765
Okay.
1436
01:11:59.785 --> 01:12:02.346
So that's much more blue ocean way of looking at it.
1437
01:12:02.666 --> 01:12:08.310
So assuming you have backend service hotspot where you feel a little stuck because you do have, you have clients, you have infrastructure.
1438
01:12:08.710 --> 01:12:10.311
It's not like you're building from scratch.
1439
01:12:11.031 --> 01:12:12.892
What would you be thinking next like few years?
1440
01:12:12.932 --> 01:12:16.755
Because for example, from my perspective, I am very much thinking of us as a
1441
01:12:17.495 --> 01:12:23.140
What will AI not be able to replicate being really, really good at that and then making it easy for people to pour into?
1442
01:12:23.560 --> 01:12:28.264
So, for example, dispatch routing elements around some payment stuff.
1443
01:12:28.544 --> 01:12:30.926
But like a lot of automations, reports, et cetera.
1444
01:12:31.347 --> 01:12:33.248
I feel like AI is going to do a fantastic job of that.
1445
01:12:33.548 --> 01:12:36.151
And so I'm really trying to focus on like, what's our differentiator?
1446
01:12:36.511 --> 01:12:41.855
What do we do so well that they're not going to be able to copy and that they wouldn't want to put all of their data into some...
1447
01:12:42.636 --> 01:12:44.937
something they just spin up, vibe coding.
1448
01:12:45.277 --> 01:12:53.620
That's where my head is at right now, but where would your head be at from the next 36 to 60 months in this space, CRM world?
1449
01:12:53.660 --> 01:12:55.561
I don't know if I'm going to answer exactly what you're asking.
1450
01:12:55.581 --> 01:13:01.943
So man, redirect me here because there are so much we could talk about, but it may be different now because you can vibe code so much stuff.
1451
01:13:02.683 --> 01:13:10.273
But when I was thinking about the next service autopilot, I was one thing I was going to do that you can't that I don't think you can or should do.
1452
01:13:10.834 --> 01:13:14.238
And then the other thing that I was thinking about, I think, applies.
1453
01:13:14.599 --> 01:13:20.086
The first thing is I was going to go way up market, smaller business, fewer clients, smaller business.
1454
01:13:20.186 --> 01:13:21.187
paying us much more money.
1455
01:13:21.567 --> 01:13:22.748
And I don't think you can do that.
1456
01:13:22.928 --> 01:13:25.750
It's not it's not that you can't serve bigger clients.
1457
01:13:26.070 --> 01:13:26.531
You will.
1458
01:13:27.131 --> 01:13:33.636
But I was going to exclusively focus on and they might be a smaller client there is willing to pay up because they know they're going to be big someday.
1459
01:13:34.176 --> 01:13:42.322
The problem that we had at Service Autopilot is it's almost impossible in the technology to serve the smaller company and the big company doing.
1460
01:13:42.642 --> 01:13:48.347
I'll use the example of a company that does 150 jobs a day and a company that does 2000 jobs a day.
1461
01:13:48.867 --> 01:13:58.253
They are literally completely different organizations in the way they think and the way they – the stuff they have to do on the – within the UX.
1462
01:13:59.133 --> 01:14:02.475
And so it's really hard to serve both of them really, really well.
1463
01:14:02.756 --> 01:14:04.717
So I was just going to go way up market.
1464
01:14:05.478 --> 01:14:13.345
You can't do that, though, because you've got Augusta and you've got to build for Augusta and the broader market anyway is a smaller company.
1465
01:14:13.625 --> 01:14:19.971
And so I think you have to kind of understand as much as you won't like this.
1466
01:14:20.592 --> 01:14:24.615
who you're going after and say, I'm going after $3 million.
1467
01:14:24.635 --> 01:14:31.919
Just an example, I'm not saying this is the number, but I'm for $3 million companies and less, which is at the end of the day, like 90% of the market.
1468
01:14:32.320 --> 01:14:42.647
But I think you have to kind of decide because, and I can't figure out how AI changes this yet, because a city turf operates completely different than a,
1469
01:14:43.467 --> 01:14:49.530
and operate completely different than a lot of the service autopilot members, CityTurf never got the functionality they needed.
1470
01:14:49.770 --> 01:14:50.490
They just didn't.
1471
01:14:51.390 --> 01:14:57.153
And the small guys got functionality that was just, they didn't need it and it complicated the screens.
1472
01:14:57.953 --> 01:14:59.634
And so like, how do you find the sweet spot?
1473
01:14:59.654 --> 01:15:01.795
That'd be one thing to just put a lot of thought into.
1474
01:15:02.095 --> 01:15:04.316
Who is the sweet spot and how do I only build for them?
1475
01:15:04.656 --> 01:15:07.137
And I'm totally okay turning away the CityTurfs.
1476
01:15:08.137 --> 01:15:09.738
and certain other types of companies.
1477
01:15:10.278 --> 01:15:18.121
One thing you do have going for you is because you're building for Augusta, you have to be able to handle franchises and or multi-location.
1478
01:15:18.141 --> 01:15:19.982
A lot of software products don't handle that.
1479
01:15:20.342 --> 01:15:24.264
And if you look at across franchises and multi-location, they tend to be smaller.
1480
01:15:24.464 --> 01:15:25.724
They'll fit right into your world.
1481
01:15:25.764 --> 01:15:27.425
So like that's an advantage right there.
1482
01:15:28.045 --> 01:15:34.087
The serving the franchise people or the multi location people is also very different than serving the one off guy.
1483
01:15:34.127 --> 01:15:36.688
So it's just back to this clarity.
1484
01:15:37.028 --> 01:15:38.668
Okay, that's one thing I think about.
1485
01:15:39.089 --> 01:15:42.750
I just don't know how if I was doing another service, I can live in both worlds.
1486
01:15:43.330 --> 01:15:43.911
Maybe I'm wrong.
1487
01:15:43.951 --> 01:15:44.571
Maybe we could have.
1488
01:15:44.611 --> 01:15:45.272
I just don't know how.
1489
01:15:45.693 --> 01:15:52.360
I talk to too many people, listen to too many onboarding calls, too many sales calls, too many everything, too many feature requests.
1490
01:15:52.440 --> 01:15:56.764
It's just, I don't know if it's possible to go too far upmarket in the same software.
1491
01:15:57.205 --> 01:15:57.725
And then...
1492
01:15:58.366 --> 01:16:06.850
The other one that I had decided on, and this is the thing I don't know for you because of where we're at in the market.
1493
01:16:07.230 --> 01:16:20.537
If I was building a new service autopilot, I was going to build hardcore scheduling, costing, just be the best of the best at that and not do the other stuff and build APIs into HubSpot, Salesforce, Salesforce.
1494
01:16:21.077 --> 01:16:22.018
whatever other system.
1495
01:16:22.318 --> 01:16:25.060
But that made sense because I was going up market.
1496
01:16:25.521 --> 01:16:33.127
Even in a world with you being able to vibe code and turn out all kinds of functionality, we won't know the answer to this for years.
1497
01:16:33.968 --> 01:16:35.689
Our system's going to become so...
1498
01:16:36.490 --> 01:16:40.331
Like service autopilot could never build everything we dreamed of.
1499
01:16:40.371 --> 01:16:43.612
And we promised this in the early days, this one system to run your business.
1500
01:16:43.872 --> 01:16:44.632
It was a pipe dream.
1501
01:16:44.892 --> 01:16:46.713
Well, now maybe it's less of a pipe dream.
1502
01:16:47.013 --> 01:16:54.635
But can you even build a really organized, well put together focused system when you can build anything as fast as you want it every time you have an idea?
1503
01:16:55.035 --> 01:16:58.936
I suspect the new problem is systems are just going to be a ginormous mess.
1504
01:16:59.656 --> 01:17:02.757
Because now you can do everything you want to do.
1505
01:17:03.077 --> 01:17:03.657
But should you?
1506
01:17:04.337 --> 01:17:07.240
And that's something I've been thinking a lot about with technology.
1507
01:17:07.720 --> 01:17:16.047
And so for you, I don't have the answer, but I think you still have to have one hardcore lane that you are by far the best at.
1508
01:17:16.127 --> 01:17:19.090
And everything else is good, but it's not really a focus.
1509
01:17:19.410 --> 01:17:23.694
And I think scheduling and costing is the defensible lane in an AI world.
1510
01:17:24.194 --> 01:17:27.796
like really having all that data and being incredibly good at it.
1511
01:17:28.356 --> 01:17:42.643
Like even in a world where an AI model is going to be able to do the scheduling for a company, there's going to be a long period of time where it's like, okay, yes, all this could be contained inside a model, but people are never going to be comfortable with that because they have to verify on a screen.
1512
01:17:42.923 --> 01:17:49.486
They still need the CRUD database that put Pate's data back out to the screen where it's like, yes, that did get done.
1513
01:17:49.526 --> 01:17:50.707
Yes, that did get invoiced.
1514
01:17:51.407 --> 01:17:52.128
They need to see it.
1515
01:17:52.148 --> 01:18:02.395
So this idea that the user interface is going to be completely reinvented and changed, I don't buy it because while it's possible it could be reinvented and changed, people are not going to let it happen.
1516
01:18:02.776 --> 01:18:15.225
Ms. Smith, who's 53 years old, answering the phone inside a home services company, is not going to live in a completely new paradigm where all she does is talk to her system and trust that everything's happening correctly.
1517
01:18:15.265 --> 01:18:19.088
She wants to see it on her screen, and that interface is going to last a long time.
1518
01:18:19.588 --> 01:18:26.074
And where I'm going with that is that if we still have to have a lot of interface, if you have a massive system, people's brains shut down.
1519
01:18:26.554 --> 01:18:29.937
So it's like on one hand, you guys could build it all and it could be great.
1520
01:18:30.297 --> 01:18:34.521
But what will accidentally happen is because of the audience you're selling to, it'll be too much.
1521
01:18:34.741 --> 01:18:35.482
Like they'll love it.
1522
01:18:35.542 --> 01:18:36.783
The sales dream will be great.
1523
01:18:37.023 --> 01:18:39.045
But when they're in the system, it's like, oh.
1524
01:18:39.485 --> 01:18:40.406
It's too much.
1525
01:18:40.646 --> 01:18:49.311
So I don't have the answer to it, but really saying this is what we're about and being really focused on that, I think still matters in a world where you can build anything.
1526
01:18:49.351 --> 01:18:51.352
And I think it's clearly scheduling.
1527
01:18:51.632 --> 01:19:00.838
And then how can you start, like I think about the new product still, even though I'm not building one, I'll never be able to stop thinking about what would be next.
1528
01:19:01.338 --> 01:19:03.719
How can you completely reinvent inputs?
1529
01:19:04.700 --> 01:19:07.742
The idea that my team, I've thought about this a lot.
1530
01:19:08.442 --> 01:19:14.186
The idea that my team uses a mobile device to put in what they did makes no sense to me.
1531
01:19:15.026 --> 01:19:19.509
If that is what the world looks like in five years, I can't fathom it.
1532
01:19:20.009 --> 01:19:22.971
If I was building today, I'm building something totally different.
1533
01:19:22.991 --> 01:19:23.972
You're using a mobile device.
1534
01:19:24.012 --> 01:19:25.273
You're not typing in your device.
1535
01:19:25.833 --> 01:19:27.074
My technician is not typing.
1536
01:19:27.634 --> 01:19:28.134
I have a lot.
1537
01:19:28.194 --> 01:19:29.375
I've actually already code vibes.
1538
01:19:29.495 --> 01:19:34.317
I've already vibe code something around this just to see what it would look like because Philip and I were talking about it.
1539
01:19:35.058 --> 01:19:39.140
And so how can you reinvent the entire input?
1540
01:19:40.060 --> 01:19:52.267
If I'm asking a guy that speaks Spanish to have to type in all this stuff and what chemical he used and how many products he used and customer notes, like this is what I want to tell Ms. Smith.
1541
01:19:52.807 --> 01:19:54.928
Versus this is what the office needs to know.
1542
01:19:54.968 --> 01:19:59.530
This is what the tech that's going to be back on the property in three weeks needs to know or two months.
1543
01:19:59.990 --> 01:20:02.691
You don't get anything because they have to type.
1544
01:20:02.731 --> 01:20:04.471
You get no information.
1545
01:20:05.192 --> 01:20:12.614
So what's the input mode that would capture the most amount of information and then automatically take the information and send it where it needs to go?
1546
01:20:12.915 --> 01:20:14.095
This needs to go to the customer.
1547
01:20:14.335 --> 01:20:15.736
This needs to go to chemical tracking.
1548
01:20:15.936 --> 01:20:17.216
This needs to go to office notes.
1549
01:20:17.476 --> 01:20:20.297
This needs to go to the notes to the next tech that's on the property.
1550
01:20:20.377 --> 01:20:21.318
What's that new...
1551
01:20:22.118 --> 01:20:22.879
mode of capture.
1552
01:20:23.379 --> 01:20:28.365
And then also, if you think about a lot of the guys are so busy, like they don't want to write all this stuff.
1553
01:20:28.925 --> 01:20:34.130
Like at CityTurf, we have this really good process of leaving stuff on your door and a text still writes on it.
1554
01:20:34.171 --> 01:20:34.811
It's personal.
1555
01:20:35.372 --> 01:20:37.774
That's great, except most people don't write very good.
1556
01:20:39.235 --> 01:20:41.296
You know, and I'm not knocking anybody.
1557
01:20:41.356 --> 01:20:43.016
I think my writing's got worse too.
1558
01:20:43.116 --> 01:20:46.057
I'm not like putting myself out there as better than anybody else.
1559
01:20:46.077 --> 01:20:49.738
But, and so that, on one hand, it's a nice experience for the client.
1560
01:20:49.758 --> 01:20:52.259
On the other hand, it's like, can they read it very well?
1561
01:20:52.559 --> 01:20:55.520
So how do you get the information and more information to the client better?
1562
01:20:55.800 --> 01:20:57.261
Those are the big things.
1563
01:20:57.281 --> 01:21:00.422
So if you think about where you guys spend your brain power,
1564
01:21:01.302 --> 01:21:06.168
It just keeps pulling you back to scheduling, billing, and costing, in my opinion.
1565
01:21:06.188 --> 01:21:09.352
Like, yeah, there's all this other really cool stuff you should do.
1566
01:21:09.372 --> 01:21:17.462
I'm not saying you don't do it because it's just that you have to pick a lane that you're just going to dominate and a lot of other stuff is going to get ignored.
1567
01:21:18.082 --> 01:21:24.165
And at the end of the day, my belief is people buy your system for scheduling and billing and understand their data more than they're going to.
1568
01:21:24.225 --> 01:21:27.927
I'm not saying you don't do marketing, but if you have to rank it, they're buying you for that.
1569
01:21:28.207 --> 01:21:36.371
They didn't come into your system because I need marketing data because they want to send an email blast because I want to create a to do because I want to respond to a text message.
1570
01:21:36.391 --> 01:21:37.972
That's not why they bought your system first.
1571
01:21:37.992 --> 01:21:40.453
They bought your system first for scheduling and billing.
1572
01:21:40.754 --> 01:21:43.055
And that is the unique selling proposition here.
1573
01:21:43.095 --> 01:21:47.277
So it has to be the thing above all the things that you destroy all the competition with.
1574
01:21:47.697 --> 01:21:50.021
And the other stuff, you know, it matters.
1575
01:21:50.481 --> 01:21:53.926
I'm not saying you don't do it, but that's how I think you have to think about it when you allocate resources.
1576
01:21:54.780 --> 01:21:56.721
You mentioned job costing.
1577
01:21:57.381 --> 01:21:58.801
Would that be mostly for projects?
1578
01:21:59.301 --> 01:21:59.482
No.
1579
01:21:59.962 --> 01:22:00.142
No.
1580
01:22:00.222 --> 01:22:04.103
So still at the- I want to know my COGS by division, by service.
1581
01:22:04.883 --> 01:22:13.366
I have all of it at CityTurf, but it requires- We have had it forever at CityTurf.
1582
01:22:13.486 --> 01:22:17.867
We can tell you our COGS, our gross margin, our man hour rate, our labor rate.
1583
01:22:18.348 --> 01:22:19.088
We can tell you all of it.
1584
01:22:19.168 --> 01:22:22.669
Do you not think that's something that would be done very easily with vibe coding or not really?
1585
01:22:22.689 --> 01:22:22.749
No.
1586
01:22:22.909 --> 01:22:23.229
Oh, no.
1587
01:22:23.509 --> 01:22:24.190
Yeah, yeah, yeah, yeah.
1588
01:22:24.230 --> 01:22:24.490
You can.
1589
01:22:24.530 --> 01:22:25.471
Yeah, yeah, yeah, yeah.
1590
01:22:25.751 --> 01:22:26.832
It needs to be in your system.
1591
01:22:27.272 --> 01:22:28.192
Oh, I see what you're saying.
1592
01:22:28.373 --> 01:22:29.433
The inputs need to be there.
1593
01:22:29.473 --> 01:22:29.753
Got it.
1594
01:22:30.014 --> 01:22:36.418
Yeah, this is what I say the most important things for your system to do are scheduling, billing, and that.
1595
01:22:37.170 --> 01:22:40.472
Give me the data for the operational side of the business.
1596
01:22:40.732 --> 01:22:45.734
So, well, we've talked years ago, like, tell me what to do with the data.
1597
01:22:45.834 --> 01:22:50.196
Like, we finally can live in the – that's really hard to do in service all pilot days.
1598
01:22:50.216 --> 01:22:56.239
But now you guys can run models across the data and say, this is where the problem is.
1599
01:22:56.299 --> 01:22:57.179
This is what you should do.
1600
01:22:57.219 --> 01:23:00.801
You can start surfacing those opportunities to your clients.
1601
01:23:01.021 --> 01:23:01.261
Yeah.
1602
01:23:01.782 --> 01:23:12.672
If you think about just what you could do going down scheduling, billing, and giving them data to figure out how to price better, to figure out where they have density problems, to figure out all that stuff out, it's magic.
1603
01:23:12.932 --> 01:23:14.494
And that system does not exist.
1604
01:23:14.854 --> 01:23:16.816
And that system is completely solvable right now.
1605
01:23:16.836 --> 01:23:18.217
And that's the system I'd be building.
1606
01:23:19.018 --> 01:23:21.419
to the detriment of every other piece of functionality.
1607
01:23:21.539 --> 01:23:26.642
I'd let, like to the detriment of email marketing and marketing and all the other stuff.
1608
01:23:26.662 --> 01:23:33.226
Like, again, I would, the ideal is it's all in one system, but even in a vibe coding world, it's not writing code.
1609
01:23:33.606 --> 01:23:35.247
Like writing code is only part of it.
1610
01:23:35.267 --> 01:23:43.132
Like designing it is a mass, as you know, it's like the biggest, it's the hardest part of this whole thing, thinking about what gets in and how all the data interacts.
1611
01:23:43.512 --> 01:23:45.133
And the other thing that I think is really important
1612
01:23:45.733 --> 01:23:46.934
Hopefully I'm not going too far with this.
1613
01:23:47.174 --> 01:23:47.694
Oh, that's great.
1614
01:23:47.874 --> 01:23:49.675
The other thing is really... My personal coaching call.
1615
01:23:49.795 --> 01:23:49.996
Yeah.
1616
01:23:50.176 --> 01:23:59.481
The other thing that's really important is like, I think when you're writing software right now, there could be this default where it's like, okay, well, I'm just going to let AI solve all this stuff.
1617
01:23:59.541 --> 01:23:59.721
Okay.
1618
01:23:59.741 --> 01:24:05.125
So like, we're just going to accumulate data and then we're going to run a data model over top.
1619
01:24:05.625 --> 01:24:07.506
We're going to run an AI model over top of it.
1620
01:24:07.526 --> 01:24:09.047
And we're just going to extract all the data.
1621
01:24:09.567 --> 01:24:13.552
Or we're going to let the data figure out or the model figure out how to do all this stuff.
1622
01:24:14.013 --> 01:24:20.921
And I think what we're going to and I know there will be open source models, but I think what we're going to find ourselves in is people are going to buy software thinking it's going to cost them 300 a month.
1623
01:24:21.321 --> 01:24:25.887
And when they when they have a massive data set, it's going to cost them 1500 dollars a month.
1624
01:24:26.127 --> 01:24:48.158
in the future and so i think as a builder of technology we also have to be really cognizant of what's being built as an algorithm what's being built as a an ai model it's going to run over data how do we really get good at carving out just the data needed to pass that into the model stuff you're probably dealing with right now like that it's i use that as an example to say
1625
01:24:49.158 --> 01:24:55.379
There are so many decisions that are going to have to be made to be the best scheduling, billing, and costing system out there.
1626
01:24:55.959 --> 01:24:59.120
It doesn't leave a crazy amount of time to be the best at every other thing.
1627
01:24:59.380 --> 01:25:01.160
You have to have estimating too.
1628
01:25:01.220 --> 01:25:02.141
I put that as the fourth.
1629
01:25:02.161 --> 01:25:05.821
That has to be really good because it's too tight.
1630
01:25:05.881 --> 01:25:07.922
I actually don't think you have to have estimating.
1631
01:25:08.302 --> 01:25:14.443
I've thought about this a lot because I've convinced Riley to build estimating into every chat because I'm staying on SA.
1632
01:25:14.683 --> 01:25:16.684
So I'm like, could I give up estimating at SA?
1633
01:25:16.804 --> 01:25:18.424
Yes, we're moving it to every chat.
1634
01:25:19.084 --> 01:25:21.887
So I don't think you have to have it, but it is a really nice bundle.
1635
01:25:23.329 --> 01:25:27.893
Again, I hope we probably just lost everybody in the conversation, but I will tell you one of the things.
1636
01:25:27.913 --> 01:25:28.374
So I did it at the end.
1637
01:25:28.394 --> 01:25:29.375
I was going to do it at the beginning.
1638
01:25:29.475 --> 01:25:33.299
I was like, no, I'll do it at the end once everyone, all the retention curve is off.
1639
01:25:34.820 --> 01:25:42.148
So the value of having estimating in the same system is if you can create a mechanism where you can click a button and auto schedule all of it.
1640
01:25:42.328 --> 01:25:44.470
Do you guys do a package concept like we did?
1641
01:25:44.670 --> 01:25:45.170
Okay.
1642
01:25:45.190 --> 01:25:47.352
Can you automatically create the packages?
1643
01:25:47.392 --> 01:25:48.493
Can you automatically create this?
1644
01:25:48.733 --> 01:25:50.274
That's where estimating gets really cool.
1645
01:25:50.695 --> 01:25:52.516
We had some of that in service autopilot.
1646
01:25:53.017 --> 01:25:54.438
It worked best for packages.
1647
01:25:54.858 --> 01:25:56.379
I don't know how much it was actually used though.
1648
01:25:56.580 --> 01:25:59.702
And that's why I said, how far do you need to go with estimating?
1649
01:26:00.082 --> 01:26:05.367
I'll tell you, if you go to, this is estimating, perfect example for big companies versus small companies.
1650
01:26:05.567 --> 01:26:05.827
Okay.
1651
01:26:05.987 --> 01:26:09.110
If you think about service autopilot estimating, we had cost.
1652
01:26:09.130 --> 01:26:13.293
I don't know if you remember, but we had all this costing stuff in there, all kinds of things.
1653
01:26:13.793 --> 01:26:15.515
It was never enough for the big companies.
1654
01:26:15.735 --> 01:26:17.757
And it blew the mind of all the small guys.
1655
01:26:18.197 --> 01:26:18.917
Blew their mind.
1656
01:26:19.078 --> 01:26:24.902
Like just like number one thing that people wanted off the screens because they don't actually do that stuff.
1657
01:26:25.042 --> 01:26:31.307
And so this is it's a perfect dilemma of how do you build something that works for both markets?
1658
01:26:31.348 --> 01:26:31.528
Yeah.
1659
01:26:32.278 --> 01:26:37.476
And yeah, so those are some, I mean, I got a lot more ideas, but those are some of the big ones that I'd be thinking about.
1660
01:26:38.097 --> 01:26:38.637
Okay, that's great.
1661
01:26:38.657 --> 01:26:39.358
That was my first one.
1662
01:26:39.398 --> 01:26:40.698
Now I got to replace my second one.
1663
01:26:40.778 --> 01:26:41.079
All right.
1664
01:26:41.419 --> 01:26:49.043
I'm in this, I won't say strange position, but like a lot of the things that I currently have in the oven, I need to just wait on.
1665
01:26:49.703 --> 01:26:53.545
I have great teams working on certain problems in all three departments.
1666
01:26:53.565 --> 01:26:57.768
So we have homeworks, software, franchise, Augusta, and media.
1667
01:26:58.268 --> 01:27:02.270
And as much as everyone in those individual departments would be screaming for my attention, like, yeah.
1668
01:27:02.270 --> 01:27:02.970
should be focused on this?
1669
01:27:02.990 --> 01:27:03.771
You should be focused on this.
1670
01:27:04.351 --> 01:27:12.417
I know I have great people working on these problems and some of it might take some time to bake, but me getting involved is actually going to cause more problems than anything.
1671
01:27:12.517 --> 01:27:24.925
If you were in my shoes, what would be some of the questions you'd be asking yourself to determine where should I be deploying my energy or my time without causing undue frustration for the internal team that for some of these things, it's just as literal as...
1672
01:27:25.565 --> 01:27:27.366
I need to wait and let these things bake.
1673
01:27:27.786 --> 01:27:30.167
So the MCP thing is a great example.
1674
01:27:30.447 --> 01:27:33.768
It is now past my level in terms of what they're trying to figure out.
1675
01:27:34.248 --> 01:27:46.192
I know that this is a matter of iterations, multiple layers of beta testing, figure out where things break, and just six months of really honing this in, me getting involved is going to probably cause more damage than anything.
1676
01:27:46.952 --> 01:27:57.096
Um, but there's multiple instances of that, but from those three kind of layers of the business, what would be some of the questions you'd be asking yourself to be like, what should I be focused my time and energy on?
1677
01:27:57.316 --> 01:28:03.578
So let me, before I try to come up with questions, let me tell you what first comes to mind that you should be focused on, right?
1678
01:28:03.658 --> 01:28:05.279
What you just said, this is not what you're asking.
1679
01:28:05.299 --> 01:28:08.320
What you just said is why I would tell you, you should absolutely not do a coaching business.
1680
01:28:09.528 --> 01:28:17.256
You have so many things going, and these things have the potential to be so good and so big, you don't want to get distracted.
1681
01:28:18.317 --> 01:28:23.562
You've got – even though you don't have to run them, it's a lot still because your brain has to think about them.
1682
01:28:24.042 --> 01:28:27.065
So then how do you action your time within them?
1683
01:28:27.125 --> 01:28:28.546
The thing I think about is –
1684
01:28:29.587 --> 01:28:30.068
Two things.
1685
01:28:30.428 --> 01:28:32.650
So let's use the example of the MCP project.
1686
01:28:33.711 --> 01:28:37.475
Your job is you can't possibly be as technical as your team.
1687
01:28:37.955 --> 01:28:41.138
You can't possibly know all the little fine details.
1688
01:28:41.498 --> 01:28:48.124
But what you can do is you can ask questions all the time, even if it's a little bit annoying for them because it...
1689
01:28:48.965 --> 01:28:52.288
It creates this element of challenging them and making them think.
1690
01:28:52.869 --> 01:28:56.272
It's really easy for us to just knock projects out and sometimes not think about them.
1691
01:28:56.292 --> 01:28:57.092
We just want to get them done.
1692
01:28:57.613 --> 01:29:03.158
And so your role in this is to ask the good questions just to make sure things are going in the right direction.
1693
01:29:03.578 --> 01:29:05.279
So it's not that you're trying to...
1694
01:29:06.120 --> 01:29:08.202
layer on more to do's into the project.
1695
01:29:08.543 --> 01:29:16.892
It's that, do you have a demo cadence in the company where that team is demoing to you or in stakeholders, what is being delivered?
1696
01:29:17.433 --> 01:29:20.316
So in other words, I'll go back to my estimating project.
1697
01:29:20.336 --> 01:29:21.317
You're building estimating.
1698
01:29:21.577 --> 01:29:22.558
There was a design.
1699
01:29:22.838 --> 01:29:24.340
Everybody agreed to the design.
1700
01:29:24.360 --> 01:29:24.420
Uh,
1701
01:29:25.641 --> 01:29:28.763
And then the design starts getting built by the dev team.
1702
01:29:28.783 --> 01:29:38.049
Then the dev team should periodically on a probably every two week or less cadence, depending on the project demo to a small group, what's been built so far.
1703
01:29:38.469 --> 01:29:39.970
That's when you get asked questions.
1704
01:29:40.570 --> 01:29:42.372
That's when you get to make sure things are on track.
1705
01:29:42.392 --> 01:29:45.493
That's when it's like, yeah, you're not the smartest guy on this topic.
1706
01:29:45.534 --> 01:29:46.274
That's totally cool.
1707
01:29:46.334 --> 01:29:48.195
You are the business intelligence.
1708
01:29:48.535 --> 01:29:51.717
You are the best understander of the franchisee.
1709
01:29:51.737 --> 01:29:53.879
You're the best understander of the, uh,
1710
01:29:54.559 --> 01:29:57.283
It's a weird phrasing, but you really understand the franchisee.
1711
01:29:57.303 --> 01:29:58.725
You really understand the buyer.
1712
01:29:58.785 --> 01:29:59.847
You are that person.
1713
01:30:00.227 --> 01:30:04.133
So you have this level of knowledge that they can't possibly have.
1714
01:30:04.233 --> 01:30:06.416
No negative on them whatsoever.
1715
01:30:06.456 --> 01:30:10.061
So there does need to be an element of your involvement.
1716
01:30:10.742 --> 01:30:15.006
Because this is where I think service autopilot started making some mistakes.
1717
01:30:15.046 --> 01:30:17.368
And in other businesses, I've got the same thing.
1718
01:30:17.628 --> 01:30:18.989
Like you're very involved.
1719
01:30:19.309 --> 01:30:20.791
Then the business starts to scale.
1720
01:30:21.071 --> 01:30:22.392
You're working on other things.
1721
01:30:22.993 --> 01:30:24.554
And everything's still going.
1722
01:30:24.734 --> 01:30:25.695
Everything's still growing.
1723
01:30:26.195 --> 01:30:27.436
But you weren't...
1724
01:30:28.137 --> 01:30:39.306
Like that level of knowledge, these conversations convey training and knowledge to the team where they really understand the customer, what the customer is worried about, what the customer needs.
1725
01:30:39.806 --> 01:30:45.831
There's just expertise that you're going to have that unless you're still having conversations, it doesn't get transferred.
1726
01:30:45.971 --> 01:30:50.034
And then you're going to have some of the best questions, even though you don't technically know how to do it.
1727
01:30:50.254 --> 01:30:52.195
So just you can solve part of that through demos.
1728
01:30:52.516 --> 01:30:53.156
Does that make sense?
1729
01:30:53.697 --> 01:30:53.897
Mm-hmm.
1730
01:30:54.297 --> 01:30:54.757
That resonate?
1731
01:30:54.977 --> 01:30:55.217
Okay.
1732
01:30:55.437 --> 01:30:55.657
Yep.
1733
01:30:55.697 --> 01:31:01.119
So I would tell you, be careful not to say, oh, I'm not the technical guy.
1734
01:31:01.159 --> 01:31:01.699
I don't know.
1735
01:31:01.719 --> 01:31:06.541
They just need to go do this thing and say, therefore, I don't need to be involved.
1736
01:31:06.601 --> 01:31:13.983
You should still have some involvement because these things can get off track and you could be shocked at what you end up getting delivered.
1737
01:31:14.623 --> 01:31:18.184
simply because you didn't have a cadence of these demo days or meetings.
1738
01:31:18.564 --> 01:31:19.324
That'd be number one.
1739
01:31:19.705 --> 01:31:25.186
The second thing is I think the swarm concept is the way you run the business as it gets bigger.
1740
01:31:25.246 --> 01:31:38.210
So if your different businesses are having surfacing issues and those issues are getting stacked ranked, I think your role as you get bigger is you're a coach.
1741
01:31:38.870 --> 01:31:45.016
And a lot of coaching happens by getting involved when things are, when there's a big hard thing that gets, that needs to get solved.
1742
01:31:45.356 --> 01:31:51.261
So I think this idea that you can float, it's like the issues are getting service, uh, surfaced across the business.
1743
01:31:51.662 --> 01:31:57.487
And the biggest issues are the ones you jump into for a moment of time and you help that group and then you're back out.
1744
01:31:57.847 --> 01:32:01.009
And that's, and I think that's really valuable.
1745
01:32:01.390 --> 01:32:03.271
And then, so that's like part A.
1746
01:32:03.411 --> 01:32:07.094
Part B is there's other areas where stuff may not get surfaced.
1747
01:32:07.474 --> 01:32:17.762
But if you don't have a cadence to check on it, even if you have a really strong ops leader, because you're the visionary of the business, if you're like, there could come a day you stop checking on onboarding.
1748
01:32:17.882 --> 01:32:23.428
or you stop checking on what's going on in customer service because you've got a great leader there, I think that's a mistake.
1749
01:32:23.848 --> 01:32:33.858
And so as you think about where you allocate your time, I think you're still periodically allocating your time to certain parts of the business, even though there's not some big brewing problem you have to be in.
1750
01:32:34.058 --> 01:32:35.960
You just make yourself go kind of check on it.
1751
01:32:36.180 --> 01:32:40.082
It keeps you in the loop on the business and keeps your finger on the pulse of the business.
1752
01:32:40.122 --> 01:32:42.343
But also, I think it does another thing.
1753
01:32:42.463 --> 01:32:43.643
It tells that part of the business.
1754
01:32:43.663 --> 01:32:45.504
Like customer service is the perfect example.
1755
01:32:46.184 --> 01:32:50.486
I actually think I dropped the ball here in Service Autopilot.
1756
01:32:51.547 --> 01:32:55.868
I wish I had spent more time just sitting in that room with them as the thing got bigger.
1757
01:32:55.888 --> 01:32:59.210
Like in the room versus them coming to a conference room.
1758
01:32:59.590 --> 01:33:02.632
where they felt like I was really paying attention at a closer level.
1759
01:33:02.652 --> 01:33:04.093
I wish John had done more of that too.
1760
01:33:04.713 --> 01:33:05.694
It's not that we ignored them.
1761
01:33:05.714 --> 01:33:07.015
It's just like we could have done way better.
1762
01:33:07.075 --> 01:33:13.539
So that sends a really powerful message as a leader to be involved in the different parts of the business.
1763
01:33:14.099 --> 01:33:23.525
For almost a year in Service Autopilot, I moved out of my office and I sat with the onboarding training and writing team and sales team, like in a big area.
1764
01:33:23.865 --> 01:33:26.147
I thought it sent a message and I wanted to hear what was going on.
1765
01:33:26.947 --> 01:33:30.010
And so like, there's lots of ways to have this conversation.
1766
01:33:30.050 --> 01:33:32.452
Like there's that, that you keep on your schedule.
1767
01:33:32.512 --> 01:33:34.053
And then there's the surfacing of issues.
1768
01:33:34.414 --> 01:33:36.175
This is what I think Elon Musk does.
1769
01:33:36.535 --> 01:33:37.757
I think that's his, his model.
1770
01:33:38.077 --> 01:33:43.321
He just swarms to the biggest problem in the business and he jumps in co-works with the team and then he moves on.
1771
01:33:43.682 --> 01:33:46.404
And I think that accomplishes a lot more than just solving a problem.
1772
01:33:47.985 --> 01:33:49.527
Did I answer what you were asking?
1773
01:33:49.947 --> 01:33:50.888
Yeah, it was great.
1774
01:33:50.968 --> 01:33:52.149
I got lots of things to do.
1775
01:33:52.189 --> 01:33:59.976
I think the one part that probably hit me the hardest or I'm going to have to think about, because everything you said was I will take action on.
1776
01:34:00.376 --> 01:34:04.340
The one part is you said not doing the coaching thing.
1777
01:34:04.640 --> 01:34:05.300
I agree.
1778
01:34:05.420 --> 01:34:07.863
I think the part that is pulling me in the other direction is
1779
01:34:08.523 --> 01:34:16.791
is I feel like the owners at Augusta, a lot of them are outgrowing a lot of the systems that got them to a million dollars and they're failing in leadership.
1780
01:34:16.872 --> 01:34:23.438
Like that talent acquisition, like the elements outside of the business, even like health stuff and like other elements.
1781
01:34:23.638 --> 01:34:26.982
And I'm trying to figure out a way if I can help them.
1782
01:34:27.002 --> 01:34:27.322
Go ahead.
1783
01:34:28.423 --> 01:34:32.065
I think it's different for your, I think of your franchisees as your team members.
1784
01:34:32.586 --> 01:34:34.807
I can think of where you might argue against a few points here.
1785
01:34:35.227 --> 01:34:42.212
I'm saying that you aren't building this big, broader coaching organization across the industry.
1786
01:34:42.892 --> 01:34:43.173
Oh, okay.
1787
01:34:43.193 --> 01:34:44.573
Because it will take a lot from you.
1788
01:34:44.834 --> 01:34:46.235
That's what I thought you were saying.
1789
01:34:46.455 --> 01:34:46.695
Oh, yeah.
1790
01:34:46.715 --> 01:34:54.460
No, this would be like more like maybe I could allocate an hour of my time a week to really getting the next level for the owners.
1791
01:34:54.660 --> 01:34:55.220
I'm glad you.
1792
01:34:55.240 --> 01:34:55.861
Okay.
1793
01:34:55.881 --> 01:34:56.081
Okay.
1794
01:34:56.361 --> 01:34:57.661
I'm really glad you brought this back up.
1795
01:34:57.681 --> 01:34:59.102
That is not what I was talking.
1796
01:34:59.922 --> 01:35:00.982
That to me is a no-brainer.
1797
01:35:01.942 --> 01:35:11.385
I believe as you become a more senior leader inside an organization, your predominant job is getting the right people on the team and coaching people and getting the wrong people off the team.
1798
01:35:11.425 --> 01:35:12.725
Your job is to grow people.
1799
01:35:13.105 --> 01:35:15.246
When I sold Service Autopilot, I went to the office every day
1800
01:35:17.327 --> 01:35:20.090
I worked a full day, I did all the stuff.
1801
01:35:20.610 --> 01:35:31.582
And then whenever I was done, meaning I sold the business and I could stop doing anything I wanted to stop doing, I realized how much of my day was not actually spent doing any service help.
1802
01:35:31.802 --> 01:35:38.949
It was coaching the team, working with the team, talking to team members about personal stuff that they were asking me questions about.
1803
01:35:39.830 --> 01:35:45.214
And I think that's what makes a person feel very different about an organization and wants to be at your organization.
1804
01:35:45.534 --> 01:35:49.197
So I think about your franchisees as your team members.
1805
01:35:49.237 --> 01:35:50.658
Like you're all in this thing together.
1806
01:35:50.978 --> 01:35:51.918
You got to grow them.
1807
01:35:52.219 --> 01:35:54.100
Like I would want to grow my COO.
1808
01:35:54.160 --> 01:35:57.782
I'd want to grow my head of customer service, of onboarding.
1809
01:35:57.822 --> 01:36:00.144
I want to grow them, give them more skills.
1810
01:36:00.544 --> 01:36:02.265
So whatever you, I would invest in them.
1811
01:36:02.506 --> 01:36:03.807
Franchisees are exact same thing.
1812
01:36:03.867 --> 01:36:05.668
Whatever you got to do to invest in them, you do that.
1813
01:36:05.988 --> 01:36:06.928
That's how you grow this business.
1814
01:36:06.988 --> 01:36:08.049
It's so frustrating.
1815
01:36:08.169 --> 01:36:11.510
Probably my biggest frustration this year has been seeing them hit roadblocks.
1816
01:36:11.570 --> 01:36:16.612
I know I have nothing to do with the business or they're entrepreneurial.
1817
01:36:16.732 --> 01:36:34.118
It's just like outside life, like stress stuff, like out of whack diets, like things that were, I feel like, can I just get these people aside from people that need the tactics around door hangers and running your ads and get them aside and kind of almost like an academy situation, a little bit more on non-business.
1818
01:36:34.258 --> 01:36:35.019
Yeah, so.
1819
01:36:36.545 --> 01:36:38.526
This is an uphill battle right here.
1820
01:36:38.566 --> 01:36:40.546
We used to do a...
1821
01:36:40.706 --> 01:36:43.607
I think it was like a monthly lunch and learn, and we talked about all these things.
1822
01:36:43.907 --> 01:36:45.148
Like we did the health thing.
1823
01:36:45.168 --> 01:36:46.228
We did the finance thing.
1824
01:36:46.408 --> 01:36:49.089
You had to be a little careful on the finance thing because you're an employer.
1825
01:36:49.109 --> 01:36:50.069
You got to be a little...
1826
01:36:50.129 --> 01:36:50.769
But we did all...
1827
01:36:50.829 --> 01:36:52.750
It's like some people are receptive to it.
1828
01:36:52.770 --> 01:36:53.670
A lot of people aren't.
1829
01:36:53.730 --> 01:36:54.791
I don't know how to change them.
1830
01:36:55.051 --> 01:36:59.212
And I think that's team members and franchisees will kind of be like...
1831
01:36:59.972 --> 01:37:02.613
the same, like you'll, this, you're going to have the same problem with both groups.
1832
01:37:02.653 --> 01:37:06.513
And so some people are going to be rock stars and some are not.
1833
01:37:06.633 --> 01:37:19.476
And it just, they're just going to have to arrive at a place in life when they finally decide by looking at other franchisees that are living a certain way that, wow, look at the results they give, or they get to a place where they're so frustrated with the life they're living, they're ready to make change.
1834
01:37:19.596 --> 01:37:22.797
And so all you can do is keep showing up, having the conversation.
1835
01:37:23.557 --> 01:37:32.740
And one of the ways I like that, I think when you alluded to Academy is I think where we got a lot of the value in Academy was getting everybody together.
1836
01:37:32.760 --> 01:37:34.361
I don't know if you kind of alluded to that.
1837
01:37:34.401 --> 01:37:39.563
So how can you have, I think you do stuff like this already, but, and I don't know what you're experiencing, but.
1838
01:37:40.443 --> 01:37:46.108
I think there's magic in getting the people together and they become friends.
1839
01:37:46.388 --> 01:37:50.191
And so it's less about Mike delivering the messaging.
1840
01:37:50.231 --> 01:38:00.240
And eventually it's, you know, two guys on your, within your world talking to each other via text or whether they're being challenged directly.
1841
01:38:00.460 --> 01:38:07.823
And they're growing themselves and they're excited about doing new things because they see what the other people that they've become friends with and they respect are doing.
1842
01:38:08.183 --> 01:38:14.986
And so it's constantly about you, I think, setting the example and then teaching, but you've got to bring them all together.
1843
01:38:15.566 --> 01:38:21.209
That's what I would – I think you're doing that, but that's how I would – that's what I think worked best in Academy.
1844
01:38:21.909 --> 01:38:23.409
So how can you get them together more often?
1845
01:38:23.429 --> 01:38:24.410
Yeah, absolutely.
1846
01:38:25.103 --> 01:38:25.804
Well, thank you.
1847
01:38:25.824 --> 01:38:30.795
I have one, two, three, four, five, six, seven things I'll be doing here next week.
1848
01:38:30.855 --> 01:38:32.718
So it's too much.
1849
01:38:32.879 --> 01:38:34.001
It's a journey over time.
1850
01:38:34.998 --> 01:38:35.238
All right.
1851
01:38:35.318 --> 01:38:36.279
Non-financial advice.
1852
01:38:36.299 --> 01:38:37.119
Did you come prepared?
1853
01:38:37.460 --> 01:38:37.820
I came.
1854
01:38:38.160 --> 01:38:38.861
Yeah, yeah.
1855
01:38:39.041 --> 01:38:40.462
Oh, let's go.
1856
01:38:40.662 --> 01:38:44.184
I actually did a little data work to come up with this one.
1857
01:38:44.684 --> 01:38:47.006
I have non-financial financial advice.
1858
01:38:47.767 --> 01:38:48.667
I have financial advice.
1859
01:38:48.807 --> 01:38:49.428
Okay, all right.
1860
01:38:49.448 --> 01:38:49.808
Go ahead.
1861
01:38:50.348 --> 01:38:52.189
This SpaceX IPO thing, man.
1862
01:38:52.350 --> 01:38:53.350
Oh, man, that was mine.
1863
01:38:53.650 --> 01:38:55.051
I have it written down right here.
1864
01:38:55.071 --> 01:38:55.552
Okay.
1865
01:38:58.319 --> 01:39:03.803
So I did invest in the SpaceX IPO.
1866
01:39:03.843 --> 01:39:06.045
I said I was not going to, but I only did it.
1867
01:39:06.105 --> 01:39:07.446
It's like a couple hundred grand.
1868
01:39:07.466 --> 01:39:08.547
It's like, there's nothing.
1869
01:39:08.707 --> 01:39:12.991
I was going to slide it in earlier when you mentioned like having, like you could be more risky.
1870
01:39:13.011 --> 01:39:16.673
I was like, you could have invested in the SpaceX IPO, but sure enough, you did.
1871
01:39:17.174 --> 01:39:17.894
Give me this guy.
1872
01:39:18.014 --> 01:39:18.475
Yeah, yeah.
1873
01:39:18.495 --> 01:39:19.876
But this is not- You teach a dog new tricks.
1874
01:39:20.296 --> 01:39:22.958
Well, and I barely put any money in it.
1875
01:39:22.998 --> 01:39:23.819
I took no risk.
1876
01:39:24.339 --> 01:39:27.442
And I sold it on the open.
1877
01:39:27.722 --> 01:39:30.445
So I bought it 135 and sold it 150.
1878
01:39:31.246 --> 01:39:31.767
Oh, really?
1879
01:39:32.067 --> 01:39:33.389
Yeah.
1880
01:39:33.449 --> 01:39:34.570
You didn't wait until like 230.
1881
01:39:34.591 --> 01:39:35.051
It's crazy.
1882
01:39:37.256 --> 01:39:40.698
Well, I had just given instructions that I don't want to hold the investment.
1883
01:39:40.718 --> 01:39:42.359
So I thought maybe they sell at the end of the day.
1884
01:39:42.379 --> 01:39:43.340
They sold at the open.
1885
01:39:43.840 --> 01:39:44.180
Wow.
1886
01:39:44.200 --> 01:39:44.881
So anyway.
1887
01:39:44.901 --> 01:39:46.042
It shot up.
1888
01:39:46.462 --> 01:39:48.003
Such a – but whatever.
1889
01:39:49.023 --> 01:39:51.385
Here's the – but that's – it is annoying.
1890
01:39:51.925 --> 01:39:53.366
I will tell you it is annoying.
1891
01:39:54.587 --> 01:39:59.030
But I never – the IPO does not make any sense to me.
1892
01:39:59.150 --> 01:40:04.153
But that doesn't – it doesn't have to make sense because Tesla, Elon Musk stuff doesn't make sense.
1893
01:40:05.274 --> 01:40:08.736
But I do want to say a couple of things about this.
1894
01:40:09.377 --> 01:40:11.278
I don't know if anybody's ever thought about it this way.
1895
01:40:11.439 --> 01:40:12.680
And I just want to make a few points.
1896
01:40:12.700 --> 01:40:14.861
This is why I was not a fan of the IPO.
1897
01:40:15.202 --> 01:40:22.648
I am so glad that they're not letting SpaceX onto the S&P 500 index for a year because I would be very nervous.
1898
01:40:23.228 --> 01:40:23.448
All right.
1899
01:40:23.769 --> 01:40:23.989
So...
1900
01:40:24.869 --> 01:40:26.550
Is NASDAQ allowing them?
1901
01:40:26.570 --> 01:40:28.792
They're letting them, yeah, they're letting them faster.
1902
01:40:28.812 --> 01:40:30.033
I think it's really fast.
1903
01:40:30.333 --> 01:40:30.973
Really fast, yeah.
1904
01:40:31.193 --> 01:40:34.656
Okay, so let me give you a couple, let me give you analogy.
1905
01:40:35.796 --> 01:40:37.097
I'm gonna give you a couple analogies.
1906
01:40:37.197 --> 01:40:39.979
And I did some research yesterday to put these numbers together.
1907
01:40:40.319 --> 01:40:40.539
Okay.
1908
01:40:40.579 --> 01:40:44.562
All right, if city turf was valued like SpaceX-
1909
01:40:45.022 --> 01:40:45.923
Oh, yeah, this is fun.
1910
01:40:46.183 --> 01:40:47.985
I did the same thing.
1911
01:40:48.025 --> 01:40:49.786
Weed for $2.7 billion.
1912
01:40:50.046 --> 01:40:50.707
Let's go.
1913
01:40:50.727 --> 01:40:53.909
Based on revenue or I guess revenue because they don't have any profits.
1914
01:40:53.929 --> 01:40:55.791
They're both based on revenue, yeah.
1915
01:40:55.811 --> 01:40:57.332
So Weed for $2.7 billion.
1916
01:40:57.352 --> 01:40:57.712
That's how.
1917
01:40:58.773 --> 01:40:59.533
Crazy this is.
1918
01:40:59.553 --> 01:41:02.435
Now I understand city turf doesn't matter to the future of humanity.
1919
01:41:02.675 --> 01:41:05.796
You really got to work on your messaging, bro.
1920
01:41:05.856 --> 01:41:06.877
Come on.
1921
01:41:07.337 --> 01:41:10.158
We're going to do a trillion dollars in the next five years.
1922
01:41:10.258 --> 01:41:10.918
So anyway.
1923
01:41:10.938 --> 01:41:11.439
All right.
1924
01:41:11.519 --> 01:41:13.640
But here's, I'm going to give a couple more stats like that.
1925
01:41:13.660 --> 01:41:16.701
But let me, this is something I theorize a lot.
1926
01:41:16.741 --> 01:41:17.721
So I did a little research.
1927
01:41:17.741 --> 01:41:20.823
It does seem, my theory was retail investors are driving this.
1928
01:41:21.243 --> 01:41:22.263
more than institutional.
1929
01:41:22.503 --> 01:41:22.964
And it is.
1930
01:41:23.404 --> 01:41:28.985
So I have this theory because I've talked to several people that have asked me if I'm going to invest in the IPO.
1931
01:41:29.346 --> 01:41:32.647
And I'm like, no, I'm not really into IPOs because 70% of the time they're down.
1932
01:41:32.907 --> 01:41:36.528
And when the lockup comes, and there's some crazy ones on this one.
1933
01:41:36.908 --> 01:41:37.268
Yeah.
1934
01:41:37.568 --> 01:41:37.848
Okay.
1935
01:41:37.928 --> 01:41:47.751
So I theorize that a lot of people will think like, hey, if I had invested in Google or Amazon or whatever, I'd be rich today.
1936
01:41:48.071 --> 01:41:49.652
So I don't want to miss out on SpaceX.
1937
01:41:50.572 --> 01:41:53.654
And the point I want to make is this one.
1938
01:41:53.894 --> 01:41:59.317
Okay, if you'd invested in Google, you would have been investing at a $27 billion valuation.
1939
01:41:59.537 --> 01:42:00.617
That's how much the company was.
1940
01:42:00.937 --> 01:42:07.221
So you would have 167 X'd your investment to get to become rich because you invested in Google.
1941
01:42:07.521 --> 01:42:12.903
If you're investing at SpaceX, I haven't looked at SpaceX today, but as of yesterday, I think it was worth around $2.8 trillion.
1942
01:42:13.644 --> 01:42:17.106
So if you were to get rich, like investing in Google,
1943
01:42:17.906 --> 01:42:24.369
To make that happen, SpaceX has to become worth one half of a quadrillion dollars to get the same return on your money.
1944
01:42:24.669 --> 01:42:25.049
Let's go.
1945
01:42:25.069 --> 01:42:26.030
A quadrillion.
1946
01:42:26.610 --> 01:42:28.591
500 quadrillion.
1947
01:42:28.671 --> 01:42:28.971
Okay.
1948
01:42:29.011 --> 01:42:33.433
So I think people imagine that it's going to – that they could get that.
1949
01:42:33.553 --> 01:42:35.114
It's like the math can't even work.
1950
01:42:35.574 --> 01:42:44.999
I'm just hoping when we go public in about 10 years, I'm just hoping the current like ideas around going IPO is something like that then because it's always up and down, right?
1951
01:42:45.019 --> 01:42:47.060
Like three years ago, you did not want to go public.
1952
01:42:47.421 --> 01:42:54.885
Now, my goodness, the stage is set for Anthropic and OpenAI and it's even Stripe and all these other companies.
1953
01:42:55.325 --> 01:42:56.225
But it's crazy.
1954
01:42:56.266 --> 01:42:57.906
Let me give you two more numbers.
1955
01:42:58.247 --> 01:42:58.767
Okay, okay.
1956
01:42:59.067 --> 01:42:59.307
All right.
1957
01:42:59.347 --> 01:43:01.289
That just like, this is like nothing else.
1958
01:43:01.709 --> 01:43:07.553
So I, so I'm like, well, it's clearly the Elon Musk premium, which go ahead.
1959
01:43:07.693 --> 01:43:07.894
Sorry.
1960
01:43:07.934 --> 01:43:09.555
I have a question just for the audience.
1961
01:43:09.575 --> 01:43:10.816
Cause they're going to want to figure this out.
1962
01:43:10.856 --> 01:43:11.897
What's the revenue multiple?
1963
01:43:11.997 --> 01:43:13.157
Do you remember off the top of your head?
1964
01:43:13.177 --> 01:43:14.118
150 times revenue.
1965
01:43:15.419 --> 01:43:16.179
150, I don't get it.
1966
01:43:16.259 --> 01:43:16.900
All right, cool.
1967
01:43:16.940 --> 01:43:20.101
So for anyone watching, just take your revenue, multiply 150, and that's your valuation.
1968
01:43:20.121 --> 01:43:20.682
Yeah, that's accessible.
1969
01:43:20.702 --> 01:43:22.062
So SpaceX- I'm your longer business.
1970
01:43:22.423 --> 01:43:23.643
Yeah, yeah.
1971
01:43:23.663 --> 01:43:29.086
So SpaceX did like 18 billion, 19 billion in revenue times 150.
1972
01:43:29.126 --> 01:43:30.447
That's how you get the multiple, okay?
1973
01:43:30.467 --> 01:43:30.807
Let's get it.
1974
01:43:30.827 --> 01:43:31.307
All right.
1975
01:43:31.327 --> 01:43:35.691
So then you're like, okay, well, it's the Elon Musk premium.
1976
01:43:36.991 --> 01:43:41.675
And it is, except the premium on Tesla is only 13 times revenue.
1977
01:43:41.715 --> 01:43:42.335
Think about that.
1978
01:43:42.475 --> 01:43:45.097
So Tesla does almost $100 billion.
1979
01:43:45.257 --> 01:43:46.999
They're valued at $1.2 trillion.
1980
01:43:47.279 --> 01:43:48.620
I think these numbers are pretty close.
1981
01:43:49.060 --> 01:43:54.504
And SpaceX does $18 billion and is valued at well over double what Tesla.
1982
01:43:54.584 --> 01:43:56.666
So that's probably going to buy out Tesla.
1983
01:43:58.667 --> 01:43:59.328
Probably, yeah.
1984
01:43:59.509 --> 01:44:00.190
And now's the time.
1985
01:44:00.230 --> 01:44:02.455
If he could buy Tesla right now at this valuation.
1986
01:44:02.935 --> 01:44:03.957
He'll get his control back.
1987
01:44:03.977 --> 01:44:05.120
He'll get control back of Tesla.
1988
01:44:05.545 --> 01:44:05.685
Yeah.
1989
01:44:05.765 --> 01:44:07.207
And then I'll give one more.
1990
01:44:07.247 --> 01:44:08.107
This is my last one.
1991
01:44:08.608 --> 01:44:15.314
So Cisco, I was in my early 20s during the 90s, the dot-com boom and bust.
1992
01:44:16.115 --> 01:44:21.780
And Cisco was the poster child of insanity in the stock market.
1993
01:44:22.080 --> 01:44:29.907
And then when Cisco crashed, it took 25 years for their price in 2000 or 1999 to get back to where they were.
1994
01:44:30.067 --> 01:44:31.689
They were valued at 46 times revenue.
1995
01:44:31.989 --> 01:44:34.570
And Tesla and SpaceX is valued at 150.
1996
01:44:34.690 --> 01:44:36.571
It's beyond comprehension.
1997
01:44:36.871 --> 01:44:40.033
So this is why I was scared of it going into it.
1998
01:44:40.673 --> 01:44:42.414
And I thought, you know, it is Elon Musk.
1999
01:44:42.454 --> 01:44:43.734
This could go really good.
2000
01:44:44.235 --> 01:44:45.715
But I just, I'm not a gambler.
2001
01:44:45.795 --> 01:44:47.776
I don't go to, I don't gamble in Vegas.
2002
01:44:47.856 --> 01:44:48.917
I don't bet on things.
2003
01:44:49.237 --> 01:44:50.878
I just, it's not who I am.
2004
01:44:50.938 --> 01:44:52.959
So that's why I had a hard time buying the IPO.
2005
01:44:53.239 --> 01:44:55.300
So when I had an opportunity to sell immediately,
2006
01:44:56.562 --> 01:45:00.083
Like when I had to put in my order, we didn't know yet how well orders were going to do.
2007
01:45:00.863 --> 01:45:03.643
And, you know, so it still felt like gambling.
2008
01:45:03.663 --> 01:45:04.624
So I hardly put any money on it.
2009
01:45:05.184 --> 01:45:06.784
Anyway, a lot of information.
2010
01:45:07.064 --> 01:45:12.385
One thing I thought was interesting was the revenue from X is basically halved.
2011
01:45:12.585 --> 01:45:14.866
And so he's basically spun.
2012
01:45:15.006 --> 01:45:16.906
That's now in SpaceX, essentially.
2013
01:45:17.546 --> 01:45:20.167
But he won't look like he has an L there.
2014
01:45:20.387 --> 01:45:21.987
Like most people, if you buy a business...
2015
01:45:22.487 --> 01:45:44.284
at a premium like 40 billion dollars and then revenue halves over the course of four or five years that's an l but this is not going to be an l because it's wrapped up into spacex so there is nobody like this guy it's unbelievable like crazy it's unbelievable he's so good at what he does my non-financial advice was to not buy spacex um
2016
01:45:46.025 --> 01:45:49.989
I think the lockups are going to absolutely obliterate this very low float.
2017
01:45:50.149 --> 01:45:52.751
Only 5% of shares are for the public market.
2018
01:45:52.791 --> 01:45:53.792
I think it's 3%.
2019
01:45:53.872 --> 01:45:54.613
Is it 3?
2020
01:45:54.913 --> 01:45:55.534
I think it's 3.
2021
01:45:56.154 --> 01:45:57.035
You should double check me.
2022
01:45:57.055 --> 01:45:57.956
You might be right at 5.
2023
01:45:58.737 --> 01:46:01.859
I have been listening to a couple of things, and I thought they said 3.
2024
01:46:01.900 --> 01:46:02.100
Okay.
2025
01:46:02.260 --> 01:46:02.540
All right.
2026
01:46:02.740 --> 01:46:04.842
So we're going to end on this.
2027
01:46:04.862 --> 01:46:06.123
365 days from now, it'll be June 17, 2027.
2028
01:46:10.347 --> 01:46:10.567
All right.
2029
01:46:10.847 --> 01:46:15.930
We both got to figure out or come up with what our prediction for the stock price is going to be.
2030
01:46:16.250 --> 01:46:18.852
And then we'll revisit this in a year and see who's close.
2031
01:46:18.872 --> 01:46:19.112
Okay.
2032
01:46:19.172 --> 01:46:20.232
What is the stock price now?
2033
01:46:21.253 --> 01:46:22.954
It's like $2.15 this morning.
2034
01:46:23.294 --> 01:46:23.874
I'll let you look.
2035
01:46:24.015 --> 01:46:25.455
I don't, yeah, I can't get to it on my computer.
2036
01:46:25.715 --> 01:46:30.038
So yesterday it was probably over $200 to get to $2.8 trillion.
2037
01:46:30.778 --> 01:46:32.279
Just for the record, $195.
2038
01:46:32.819 --> 01:46:33.420
Okay.
2039
01:46:33.440 --> 01:46:33.800
$195.
2040
01:46:34.120 --> 01:46:34.700
What's the market?
2041
01:46:34.720 --> 01:46:35.941
Can you see the market cap on there?
2042
01:46:36.388 --> 01:46:40.674
Yeah, market cap right now is $2.53 trillion.
2043
01:46:40.694 --> 01:46:41.034
$2.5.
2044
01:46:41.135 --> 01:46:43.238
Yeah, I just want to highlight.
2045
01:46:43.258 --> 01:46:48.945
I just want to highlight that you could have been 30% up on your money if you just want to hold a few more days.
2046
01:46:48.965 --> 01:46:51.549
Yeah, thanks for that.
2047
01:46:51.569 --> 01:46:53.211
Trust me, I already think about it.
2048
01:46:53.231 --> 01:46:53.712
It's like...
2049
01:46:55.013 --> 01:46:55.753
I already think about it.
2050
01:46:55.813 --> 01:46:56.634
I don't need to think about it.
2051
01:46:57.134 --> 01:47:03.878
Okay, so currently $2.53 trillion market cap, and the stock price is $195.
2052
01:47:05.038 --> 01:47:09.320
It hit an all-time high of $130.
2053
01:47:09.721 --> 01:47:12.042
Well, $135 was the entry price.
2054
01:47:12.222 --> 01:47:13.002
Sorry, I apologize.
2055
01:47:13.242 --> 01:47:14.743
Hit a top of $230.
2056
01:47:14.803 --> 01:47:15.724
That was its peak.
2057
01:47:15.744 --> 01:47:16.124
Okay.
2058
01:47:16.904 --> 01:47:17.424
That's crazy.
2059
01:47:17.444 --> 01:47:19.445
That was like it's over three trillion dollars.
2060
01:47:20.085 --> 01:47:22.586
But for today, it's one hundred ninety five dollars.
2061
01:47:23.126 --> 01:47:25.606
Are you doing some sort of discounted cash flow or whatever?
2062
01:47:25.706 --> 01:47:28.447
No, no, no, no.
2063
01:47:28.487 --> 01:47:31.428
So if this happens, if we get to Mars.
2064
01:47:31.648 --> 01:47:32.248
Exactly.
2065
01:47:32.268 --> 01:47:32.788
Yeah.
2066
01:47:32.928 --> 01:47:34.929
No, I was I'm doing very simple math.
2067
01:47:35.229 --> 01:47:36.009
I got my number.
2068
01:47:36.489 --> 01:47:37.849
OK, I got my number.
2069
01:47:38.069 --> 01:47:38.330
Go ahead.
2070
01:47:38.870 --> 01:47:39.670
Ninety seven dollars.
2071
01:47:40.398 --> 01:47:41.278
Ooh.
2072
01:47:41.619 --> 01:47:42.719
So just basically a half.
2073
01:47:42.959 --> 01:47:43.279
Yeah.
2074
01:47:43.299 --> 01:47:47.722
And my logic is that the market cap will be closer to the market cap.
2075
01:47:47.742 --> 01:47:49.522
But dang, they're going to bring in Tesla.
2076
01:47:49.683 --> 01:47:50.803
Dang, that complicates it.
2077
01:47:51.523 --> 01:47:51.864
Ooh.
2078
01:47:51.884 --> 01:47:52.564
Yeah, you're tough.
2079
01:47:52.664 --> 01:47:57.706
Okay, let's assume they do bring in Tesla, which is right now 1.4, 1.5 trillion.
2080
01:47:57.726 --> 01:47:58.407
1.3 trillion.
2081
01:47:58.967 --> 01:47:59.227
Really?
2082
01:47:59.247 --> 01:47:59.447
Yeah.
2083
01:47:59.888 --> 01:48:00.808
Ooh, that complicates this.
2084
01:48:00.848 --> 01:48:01.768
That's harder math.
2085
01:48:03.429 --> 01:48:05.130
Man, now they're making it difficult on us.
2086
01:48:05.150 --> 01:48:05.971
You can't just tell them.
2087
01:48:05.991 --> 01:48:06.111
It is.
2088
01:48:06.391 --> 01:48:07.931
See, I thought 50% discount.
2089
01:48:07.951 --> 01:48:08.692
That's what I'm thinking.
2090
01:48:09.079 --> 01:48:20.239
Yeah, I was thinking it was going to get valued closer to Tesla, which would still be an extreme valuation because the revenue is 20% of Tesla's revenue.
2091
01:48:20.259 --> 01:48:20.500
Yeah.
2092
01:48:21.055 --> 01:48:24.297
And Tesla is a really exciting story, too, because that's the robot story.
2093
01:48:24.317 --> 01:48:24.617
Robots.
2094
01:48:24.937 --> 01:48:25.117
Yeah.
2095
01:48:25.578 --> 01:48:29.900
So I think the robot story is like way better than the space story.
2096
01:48:30.220 --> 01:48:31.161
Oh, my goodness.
2097
01:48:31.701 --> 01:48:32.422
In the near term.
2098
01:48:32.442 --> 01:48:35.964
The prospectus for the IPO was so hilarious.
2099
01:48:36.384 --> 01:48:39.986
Like you could have literally ripped that out of a cartoon book and been like, here.
2100
01:48:40.186 --> 01:48:41.987
And then you're like, oh, Elon said this.
2101
01:48:42.107 --> 01:48:42.948
Definitely going to happen.
2102
01:48:43.970 --> 01:48:46.253
I was listening to a podcast I like quite a bit.
2103
01:48:46.273 --> 01:48:49.295
It's called Compound and Friends, and it's a financial show.
2104
01:48:49.696 --> 01:48:52.959
And they were saying on the show – I think this is where I got my 3% float from.
2105
01:48:53.239 --> 01:48:56.522
They were saying, man, they were given some example of something Elon just said.
2106
01:48:56.542 --> 01:48:59.505
They're like, if somebody had said this 20 years ago, they'd be in prison.
2107
01:48:59.965 --> 01:49:02.188
This would be a violation of securities law.
2108
01:49:02.288 --> 01:49:02.628
Yeah.
2109
01:49:02.808 --> 01:49:04.329
And he can just do whatever he wants to do.
2110
01:49:04.749 --> 01:49:06.449
He's just such a promoter.
2111
01:49:06.869 --> 01:49:21.955
Anyway, yeah, I was kind of thinking that the valuation would still be really crazy extreme, but it would come down to a market cap closer to the $1 trillion number, which would still be way more highly valued than Tesla.
2112
01:49:22.610 --> 01:49:23.430
Yeah.
2113
01:49:23.450 --> 01:49:24.891
But when you bring Tesla in, I don't know.
2114
01:49:25.311 --> 01:49:31.053
I forget something along the lines of 13 times more shares will be available in one year compared to now.
2115
01:49:31.233 --> 01:49:35.135
So just the amount of supply of the shares on the market.
2116
01:49:35.395 --> 01:49:36.776
Yeah, we'll change everything.
2117
01:49:36.796 --> 01:49:38.116
I think it's going to be half.
2118
01:49:38.576 --> 01:49:40.017
I guess we're right around close.
2119
01:49:40.057 --> 01:49:40.597
That stinks.
2120
01:49:40.997 --> 01:49:43.978
I should have just made up like, we're going to be 400.
2121
01:49:44.219 --> 01:49:48.080
We're going to $7 trillion market cap in a year.
2122
01:49:48.100 --> 01:49:49.801
You know what the problem is?
2123
01:49:50.661 --> 01:49:57.929
I wouldn't want to be a short seller on this thing, even though I feel like 95% confident this thing is going down when the lockup comes out.
2124
01:49:58.330 --> 01:50:02.735
I'd still be scared to be a short seller on it because you have no idea what insanity is going to happen.
2125
01:50:03.175 --> 01:50:04.357
Yeah, man.
2126
01:50:04.377 --> 01:50:07.320
Is that because of Elon or is it because of the technology you think it's going to get there?
2127
01:50:07.821 --> 01:50:08.482
Because of Elon.
2128
01:50:09.123 --> 01:50:12.748
Not because of – I think the – I wouldn't bet against the guy.
2129
01:50:12.768 --> 01:50:16.374
It's just that I think Starlink's a really good business from everything I've heard.
2130
01:50:16.534 --> 01:50:17.335
I mean great business.
2131
01:50:17.456 --> 01:50:19.899
I think he'll figure out the AI thing.
2132
01:50:20.140 --> 01:50:20.440
I do.
2133
01:50:20.520 --> 01:50:21.983
I think I wouldn't bet against him on that.
2134
01:50:22.364 --> 01:50:23.946
He gets cursor at these.
2135
01:50:24.006 --> 01:50:24.406
Yeah.
2136
01:50:24.446 --> 01:50:25.447
I wouldn't know.
2137
01:50:25.907 --> 01:50:28.109
Oh, I wouldn't bet against him at all on those two things.
2138
01:50:28.370 --> 01:50:30.672
It's just that the, and I wouldn't bet against him on space.
2139
01:50:30.712 --> 01:50:35.096
It's just that that is a very long story out into the future.
2140
01:50:35.616 --> 01:50:36.477
And so, um,
2141
01:50:37.618 --> 01:50:43.020
I didn't feel so bad about saying, hey, in eight to 12 years, when we go public, we're going to be focusing on robotic mowers.
2142
01:50:43.080 --> 01:50:46.401
I was like, I feel like somehow I might be undershooting.
2143
01:50:46.761 --> 01:50:49.622
You know, maybe we're going to be mowing it from outer space.
2144
01:50:49.722 --> 01:50:51.743
We're going to be dropping helicopters or something.
2145
01:50:51.763 --> 01:50:54.364
A data center is going to be running it from outer space.
2146
01:50:54.464 --> 01:50:54.924
That's right.
2147
01:50:55.425 --> 01:50:58.826
Command center is going to go to space so we don't pay taxes in Washington state.
2148
01:50:58.886 --> 01:50:59.386
There you go.
2149
01:50:59.566 --> 01:51:06.833
I do think what this teaches you is you need to bring in some kind of a space AI element into your... That's right.
2150
01:51:06.873 --> 01:51:09.395
That was the actual real truth of what you wanted to tell me.
2151
01:51:09.695 --> 01:51:11.057
Yes, that's what you need to do.
2152
01:51:11.777 --> 01:51:12.598
Oh, man.
2153
01:51:12.778 --> 01:51:13.839
So it's fascinating.
2154
01:51:13.919 --> 01:51:14.700
It's amazing stuff.
2155
01:51:14.800 --> 01:51:15.441
I don't know how you...
2156
01:51:15.461 --> 01:51:16.501
There you have it, folks.
2157
01:51:16.582 --> 01:51:18.884
Go out there, pump the stock.
2158
01:51:18.904 --> 01:51:19.885
Put all your money in it.
2159
01:51:20.025 --> 01:51:20.885
All your money into it.
2160
01:51:21.586 --> 01:51:22.327
Let's go.
2161
01:51:22.347 --> 01:51:22.567
Awesome.
2162
01:51:22.587 --> 01:51:23.067
Thank you all.
2163
01:51:23.087 --> 01:51:23.628
Appreciate it.
2164
01:51:24.088 --> 01:51:24.529
See you later.
