1 00:00:00,000 --> 00:00:03,000 So I have a question for you. 2 00:00:03,000 --> 00:00:07,160 Why do most businesses fail today? 3 00:00:07,160 --> 00:00:10,160 Well, it depends who you ask. 4 00:00:10,160 --> 00:00:13,280 The Harvard Business Review will say it's under capitalization. 5 00:00:13,280 --> 00:00:15,040 That's why they fail. 6 00:00:15,040 --> 00:00:17,320 They're wrong. 7 00:00:17,320 --> 00:00:20,680 I'm not scared to say Harvard's wrong. 8 00:00:20,680 --> 00:00:23,600 Businesses fail because they don't sell enough product 9 00:00:23,600 --> 00:00:26,480 or service at a high enough price. 10 00:00:26,480 --> 00:00:28,400 Hands down, that's all. 11 00:00:28,400 --> 00:00:30,440 I can't make it any simpler. 12 00:00:30,440 --> 00:00:32,480 You need to sell. 13 00:00:32,480 --> 00:00:35,440 You've got to move your product or service, whatever that takes. 14 00:00:35,440 --> 00:00:38,040 And it's not having the greatest marketing company in the world, 15 00:00:38,040 --> 00:00:38,760 either. 16 00:00:38,760 --> 00:00:42,440 It's you getting it done in the beginning. 17 00:00:42,440 --> 00:00:44,480 But you can sell. 18 00:00:44,480 --> 00:00:47,000 That's what we call the fuel for the economic engine. 19 00:00:47,000 --> 00:00:49,280 Your business is an economic engine. 20 00:00:49,280 --> 00:00:51,360 Your fuel is sales. 21 00:00:51,360 --> 00:00:53,400 And it's got to be priced right. 22 00:00:53,400 --> 00:00:55,920 People can sell, but they're not pricing it properly. 23 00:00:55,920 --> 00:00:59,080 And that also stalls out the business. 24 00:00:59,080 --> 00:00:59,720 That's scary. 25 00:01:02,440 --> 00:01:06,840 It is, because I hear a lot of people in real estate 26 00:01:06,840 --> 00:01:12,000 were not really selling anything other than our commission rate 27 00:01:12,000 --> 00:01:12,600 kind of thing. 28 00:01:12,600 --> 00:01:13,440 You know what I mean? 29 00:01:13,440 --> 00:01:15,320 That's how we make our profit. 30 00:01:15,320 --> 00:01:19,280 However, I hear so many businesses that sell products 31 00:01:19,280 --> 00:01:23,720 start off at the low end because they want to get familiar. 32 00:01:23,720 --> 00:01:25,760 They say, hey, I want people to come to me 33 00:01:25,760 --> 00:01:26,880 and talk to me. 34 00:01:26,880 --> 00:01:29,240 And then they raise the price. 35 00:01:29,240 --> 00:01:32,240 And unbeknownst to everybody else, they just click on it. 36 00:01:32,240 --> 00:01:33,920 It's like, oh my goodness. 37 00:01:33,920 --> 00:01:36,160 How does that happen? 38 00:01:36,160 --> 00:01:40,600 How does that work to move, to get someone motivated to be OK 39 00:01:40,600 --> 00:01:45,600 to have a price that could actually lead to profit? 40 00:01:45,600 --> 00:01:46,920 Yeah, it's really simple. 41 00:01:46,920 --> 00:01:47,720 It's one word. 42 00:01:47,720 --> 00:01:50,040 It's called value. 43 00:01:50,040 --> 00:01:52,040 They have to drive value. 44 00:01:52,040 --> 00:01:54,640 They have to be a value-driven business, not 45 00:01:54,640 --> 00:01:56,200 price-driven business. 46 00:01:56,200 --> 00:01:59,320 You want to compete against Walmart, have fun. 47 00:01:59,320 --> 00:02:03,960 You're going to have to be the lowest every single day. 48 00:02:03,960 --> 00:02:05,000 It's a race to the bottom. 49 00:02:05,000 --> 00:02:06,400 You'll never get out of that. 50 00:02:06,400 --> 00:02:07,560 You'll never scale. 51 00:02:07,560 --> 00:02:11,640 But if you know, because I make this assumption, 52 00:02:11,640 --> 00:02:13,600 I make the assumption that everyone I work with 53 00:02:13,600 --> 00:02:16,280 is great at what they do. 54 00:02:16,280 --> 00:02:18,440 You've got a great idea. 55 00:02:18,440 --> 00:02:19,360 So you're great at it. 56 00:02:19,360 --> 00:02:23,320 But now, how do you convey that value to the customer 57 00:02:23,320 --> 00:02:25,960 that they can attach a dollar amount to the value, which 58 00:02:25,960 --> 00:02:29,880 means when someone buys, they buy a car for $40,000. 59 00:02:29,880 --> 00:02:32,640 So you just go out and buy a new car for $40,000. 60 00:02:32,640 --> 00:02:38,240 They didn't buy it because they wouldn't pay $40,100. 61 00:02:38,240 --> 00:02:40,160 If it was $100 more, they'd say no. 62 00:02:40,160 --> 00:02:40,840 That's not it. 63 00:02:40,840 --> 00:02:44,280 It's worth more than $40,000 to them, not just in money, 64 00:02:44,280 --> 00:02:45,680 but value and prestige. 65 00:02:45,680 --> 00:02:48,160 I can drive around with the sun roof open. 66 00:02:48,160 --> 00:02:49,680 The whole thing. 67 00:02:49,680 --> 00:02:50,680 That's what they're buying. 68 00:02:50,680 --> 00:02:52,640 They're not buying the dollar amount. 69 00:02:52,640 --> 00:02:53,640 Yeah. 70 00:02:53,640 --> 00:02:54,160 You understand? 71 00:02:54,160 --> 00:02:58,240 So they're not shopping because I have $10 to spend. 72 00:02:58,240 --> 00:02:59,360 You know what I'm saying? 73 00:02:59,360 --> 00:03:02,800 So the value is how you present the value. 74 00:03:02,800 --> 00:03:06,240 Again, and we always, one of the key factors in everything 75 00:03:06,240 --> 00:03:08,720 that we do is we always deliver more value 76 00:03:08,720 --> 00:03:09,960 than someone's paying for it. 77 00:03:09,960 --> 00:03:10,960 Always. 78 00:03:10,960 --> 00:03:14,160 20 years as a custom water feature builder, never once. 79 00:03:14,160 --> 00:03:15,680 I built over 1,000 of them. 80 00:03:15,680 --> 00:03:19,720 Did anyone ever tell me they overpaid? 81 00:03:19,720 --> 00:03:21,480 It was always, you don't charge enough. 82 00:03:21,480 --> 00:03:23,080 And I charged a lot. 83 00:03:23,080 --> 00:03:23,600 Yeah. 84 00:03:23,600 --> 00:03:24,080 OK. 85 00:03:24,080 --> 00:03:25,360 It's not that you buy. 86 00:03:25,360 --> 00:03:26,400 I get to whatever I want. 87 00:03:26,400 --> 00:03:28,200 They're still like, you should charge more. 88 00:03:28,200 --> 00:03:30,320 I'm like, yeah, now that yours is done, right? 89 00:03:30,320 --> 00:03:30,840 You know? 90 00:03:30,840 --> 00:03:32,400 So it's kind of good. 91 00:03:32,400 --> 00:03:33,520 But that's value. 92 00:03:33,520 --> 00:03:35,080 It's all about value. 93 00:03:35,080 --> 00:03:38,360 Can you teach someone how to be valuable 94 00:03:38,360 --> 00:03:40,840 or to put value in their product? 95 00:03:40,840 --> 00:03:41,320 Yes. 96 00:03:41,320 --> 00:03:42,480 Absolutely. 97 00:03:42,480 --> 00:03:46,280 Because here's a weird psychological thing. 98 00:03:46,280 --> 00:03:48,880 None of us value ourselves properly. 99 00:03:48,880 --> 00:03:49,400 Yeah. 100 00:03:49,400 --> 00:03:51,560 Almost hands down across the board. 101 00:03:51,560 --> 00:03:53,000 And you can probably, right? 102 00:03:53,000 --> 00:03:53,560 You're shaking your head. 103 00:03:53,560 --> 00:03:54,400 I'll shake my head. 104 00:03:54,400 --> 00:03:55,360 I don't. 105 00:03:55,360 --> 00:03:55,880 Everyone. 106 00:03:55,880 --> 00:03:56,800 It's just we don't. 107 00:03:56,800 --> 00:03:59,200 So you need outside eyes on that. 108 00:03:59,200 --> 00:04:04,920 I had an office manager who literally made me $400,000 more 109 00:04:04,920 --> 00:04:07,240 on a single job because she valued 110 00:04:07,240 --> 00:04:09,160 what I did more than I did. 111 00:04:09,160 --> 00:04:10,840 Because I said, hey, we can do it for this. 112 00:04:10,840 --> 00:04:12,080 She goes, no. 113 00:04:12,080 --> 00:04:14,440 She kept going higher, higher. 114 00:04:14,440 --> 00:04:15,360 Let me do that. 115 00:04:15,360 --> 00:04:16,000 She wrote it out. 116 00:04:16,000 --> 00:04:19,200 We made an extra $400,000. 117 00:04:19,200 --> 00:04:22,960 Because someone else had higher value in what I did than I did. 118 00:04:22,960 --> 00:04:23,440 OK. 119 00:04:23,440 --> 00:04:24,400 That's amazing. 120 00:04:24,400 --> 00:04:24,920 Yes. 121 00:04:24,920 --> 00:04:25,440 Yes. 122 00:04:25,440 --> 00:04:29,280 So then there has to be voice behind the value. 123 00:04:29,280 --> 00:04:33,640 And voice meaning someone that, if it's not yourself, 124 00:04:33,640 --> 00:04:37,560 someone that does see the value to give you that, 125 00:04:37,560 --> 00:04:41,640 I guess, that encouragement to show you your value. 126 00:04:41,640 --> 00:04:45,480 And I get goosebumps saying it because we 127 00:04:45,480 --> 00:04:47,680 should know ourselves how valuable we are 128 00:04:47,680 --> 00:04:51,840 and what we put our brains and our vision and our passion into 129 00:04:51,840 --> 00:04:53,480 is just that valuable. 130 00:04:53,480 --> 00:04:55,200 But we don't. 131 00:04:55,200 --> 00:04:55,720 We don't. 132 00:04:55,720 --> 00:04:58,120 Yeah, we spend our life with people telling us 133 00:04:58,120 --> 00:04:59,040 no all the time. 134 00:04:59,040 --> 00:04:59,560 Yeah. 135 00:04:59,560 --> 00:05:00,680 Even as a kid. 136 00:05:00,680 --> 00:05:01,120 No. 137 00:05:01,120 --> 00:05:01,600 No. 138 00:05:01,600 --> 00:05:02,880 I try to work with my children. 139 00:05:02,880 --> 00:05:04,280 I really tried not to do. 140 00:05:04,280 --> 00:05:06,160 I mean, there's time you say no because they're 141 00:05:06,160 --> 00:05:07,280 going to stick a fork in the outlet. 142 00:05:07,280 --> 00:05:08,880 OK, like, I'm not going to do that. 143 00:05:08,880 --> 00:05:11,400 But sometimes you got to let them stick the fork in the outlet. 144 00:05:11,400 --> 00:05:12,600 Then they learn. 145 00:05:12,600 --> 00:05:15,200 But at the same time, I want them to work for it 146 00:05:15,200 --> 00:05:16,560 from a sales standpoint. 147 00:05:16,560 --> 00:05:19,080 Because kids will just keep asking, asking, asking. 148 00:05:19,080 --> 00:05:22,680 And I want them to drive it, go, go, go, and find, all right, 149 00:05:22,680 --> 00:05:23,640 yeah, that makes sense. 150 00:05:23,640 --> 00:05:24,480 We'll go with that. 151 00:05:24,480 --> 00:05:27,600 I'll let you do it because they persisted for four days 152 00:05:27,600 --> 00:05:29,600 on what they want to make sure they know it. 153 00:05:29,600 --> 00:05:30,400 Of course, they're going to ask. 154 00:05:30,400 --> 00:05:30,920 That's easy. 155 00:05:30,920 --> 00:05:32,400 But we want to make them work. 156 00:05:32,400 --> 00:05:35,240 I think understanding the value of what they have to bring 157 00:05:35,240 --> 00:05:36,840 in order to get what they want. 158 00:05:36,840 --> 00:05:37,320 Yeah. 159 00:05:37,320 --> 00:05:37,680 Right? 160 00:05:37,680 --> 00:05:39,720 So they have to show me something more than just 161 00:05:39,720 --> 00:05:41,640 asking just because I'm your dad. 162 00:05:41,640 --> 00:05:42,360 Yes. 163 00:05:42,360 --> 00:05:43,360 Show me why. 164 00:05:43,360 --> 00:05:45,800 Show me why you deserve this. 165 00:05:45,800 --> 00:05:48,240 And then make them walk through that exercise. 166 00:05:48,240 --> 00:05:50,120 And now if they can do that when they're young, 167 00:05:50,120 --> 00:05:51,440 it kind of becomes habit. 168 00:05:51,440 --> 00:05:54,120 Now they're always willing to stay in the fight, which 169 00:05:54,120 --> 00:05:55,840 is part of my terminology. 170 00:05:55,840 --> 00:05:59,160 I just want you to stay in there and make it work. 171 00:05:59,160 --> 00:06:01,440 So that goes back to the name of your business, 172 00:06:01,440 --> 00:06:02,760 Sharp in the Spear. 173 00:06:02,760 --> 00:06:06,360 We always think that for ourselves 174 00:06:06,360 --> 00:06:08,560 that we are in the right place. 175 00:06:08,560 --> 00:06:12,160 And I'm sure most business individuals that do contact you 176 00:06:12,160 --> 00:06:15,560 are like, hey, I got it all down pat. 177 00:06:15,560 --> 00:06:18,440 But what they don't realize is you need someone to sharpen. 178 00:06:18,440 --> 00:06:21,280 And I'm thinking of the little knife set 179 00:06:21,280 --> 00:06:22,760 where it has a sharpener. 180 00:06:22,760 --> 00:06:26,800 And you don't realize that it's there for you to actually 181 00:06:26,800 --> 00:06:28,960 sharpen it because it gets dull. 182 00:06:28,960 --> 00:06:32,080 You're the one that actually helps a dull business 183 00:06:32,080 --> 00:06:37,120 become sharpened and actually to make profit and to progress. 184 00:06:37,120 --> 00:06:38,640 That's what it sounds like to me. 185 00:06:38,640 --> 00:06:41,160 Is that what the name means? 186 00:06:41,160 --> 00:06:41,880 Exactly. 187 00:06:41,880 --> 00:06:43,480 We're honing entrepreneurial warriors 188 00:06:43,480 --> 00:06:45,000 on the battlefield of business. 189 00:06:45,000 --> 00:06:45,520 Absolutely. 190 00:06:45,520 --> 00:06:47,280 So honing is sharpening that spear. 191 00:06:47,280 --> 00:06:48,840 When you sharpen it, anything sharp, 192 00:06:48,840 --> 00:06:50,960 you got a kitchen knife, it cuts better. 193 00:06:50,960 --> 00:06:51,920 It cuts faster. 194 00:06:51,920 --> 00:06:53,680 You're not going to cut your finger off 195 00:06:53,680 --> 00:06:54,840 because it slips because it didn't 196 00:06:54,840 --> 00:06:55,880 cut through what it did. 197 00:06:55,880 --> 00:06:57,720 So you actually make things safer. 198 00:06:57,720 --> 00:06:58,880 You make it more profitable. 199 00:06:58,880 --> 00:07:00,720 I can cut more, do more. 200 00:07:00,720 --> 00:07:03,640 The sharper you are, again, you're improving everything. 201 00:07:03,640 --> 00:07:04,840 You're starting to see things. 202 00:07:04,840 --> 00:07:07,400 So outside eyes, do the sharpening. 203 00:07:07,400 --> 00:07:09,280 Wear that ceramic sharpener. 204 00:07:09,280 --> 00:07:11,440 And you can do 30 strokes and you've got a sharp knife. 205 00:07:11,440 --> 00:07:13,200 Now you can cut anything you want. 206 00:07:13,200 --> 00:07:15,680 You're up there with all the TV chefs now. 207 00:07:15,680 --> 00:07:16,480 Yeah, right. 208 00:07:16,480 --> 00:07:17,920 Just hitting things that don't work. 209 00:07:17,920 --> 00:07:20,160 So yeah, it really is that, really understanding 210 00:07:20,160 --> 00:07:21,240 where they're at. 211 00:07:21,240 --> 00:07:23,720 Like everyone, and I have an assessment they can do as well. 212 00:07:23,720 --> 00:07:25,720 It shows them exactly where they're at right now. 213 00:07:25,720 --> 00:07:26,880 But we all can improve. 214 00:07:26,880 --> 00:07:29,000 And how are we not learning every day and improving? 215 00:07:29,000 --> 00:07:30,800 I mean, that's business in general. 216 00:07:30,800 --> 00:07:34,600 Business is uniquely that way, even more than just 217 00:07:34,600 --> 00:07:39,480 regular life or going to a job because things shift every day. 218 00:07:39,480 --> 00:07:41,360 The competition is always on your heel. 219 00:07:41,360 --> 00:07:43,000 I call it the endless war. 220 00:07:43,000 --> 00:07:44,080 That's why it's a battle. 221 00:07:44,080 --> 00:07:46,160 We use a lot of the war terms. 222 00:07:46,160 --> 00:07:48,040 But it really is a battle. 223 00:07:48,040 --> 00:07:49,720 It's a battle against obscurity. 224 00:07:49,720 --> 00:07:50,120 Right? 225 00:07:50,120 --> 00:07:50,880 People have to know you. 226 00:07:50,880 --> 00:07:51,600 You've got to stay out. 227 00:07:51,600 --> 00:07:54,520 You can't just get them to know you, then stop getting to know you. 228 00:07:54,520 --> 00:07:56,920 And then you go away and say, hey, I remember that. 229 00:07:56,920 --> 00:07:59,120 What ever happened to you get there? 230 00:07:59,120 --> 00:08:01,360 Whatever happened to, oh, they're still there. 231 00:08:01,360 --> 00:08:04,120 Whatever happened to jazzercise? 232 00:08:04,120 --> 00:08:05,320 Whatever happened. 233 00:08:05,320 --> 00:08:07,800 There's these places and they're still there. 234 00:08:07,800 --> 00:08:09,440 But you never hear about them anymore. 235 00:08:09,440 --> 00:08:12,120 They had their big run, but they're still there doing business. 236 00:08:12,120 --> 00:08:13,920 But they're not out in the front anymore. 237 00:08:13,920 --> 00:08:15,000 They've changed their stuff. 238 00:08:15,000 --> 00:08:16,120 So very interesting. 239 00:08:16,120 --> 00:08:18,800 But it's very, very challenging from a day to day basis. 240 00:08:18,800 --> 00:08:19,600 Absolutely. 241 00:08:19,600 --> 00:08:21,920 So I wrote a few things down. 242 00:08:21,920 --> 00:08:26,040 And one of those things for us in the real estate business 243 00:08:26,040 --> 00:08:28,240 is staying top of mind. 244 00:08:28,240 --> 00:08:32,120 When you think of jazzercise, who would you 245 00:08:32,120 --> 00:08:33,280 would have thought about that? 246 00:08:33,280 --> 00:08:36,040 When you think of real estate, does Javanka stand out? 247 00:08:36,040 --> 00:08:39,320 And so I get that part, definitely. 248 00:08:39,320 --> 00:08:43,200 But I want to go back to you saying improving 249 00:08:43,200 --> 00:08:44,920 and sharpening the knife. 250 00:08:44,920 --> 00:08:50,280 And the first thing I thought about was time. 251 00:08:50,280 --> 00:08:52,440 And I kept thinking about time. 252 00:08:52,440 --> 00:08:58,320 And a lot of people want to birth something quickly. 253 00:08:58,320 --> 00:09:01,560 And so if you take out the time piece 254 00:09:01,560 --> 00:09:04,120 or work with the time piece, then I 255 00:09:04,120 --> 00:09:07,520 think that we could probably, we as in business owners, 256 00:09:07,520 --> 00:09:10,680 could probably manifest it a little bit faster 257 00:09:10,680 --> 00:09:15,920 than if we were all alone using sharpen the spear quicker 258 00:09:15,920 --> 00:09:18,200 with the coaching parcel. 259 00:09:18,200 --> 00:09:20,480 Yeah, it's time compression. 260 00:09:20,480 --> 00:09:23,360 So what I didn't do in the first 20 years of my business, 261 00:09:23,360 --> 00:09:26,440 I would not accept help from anybody. 262 00:09:26,440 --> 00:09:27,680 I'm doing it all by myself. 263 00:09:27,680 --> 00:09:28,440 It's all ego. 264 00:09:28,440 --> 00:09:29,000 It's all me. 265 00:09:29,000 --> 00:09:30,160 I won all the awards. 266 00:09:30,160 --> 00:09:31,240 I built the greatest stuff. 267 00:09:31,240 --> 00:09:32,720 I have world class exhibits. 268 00:09:32,720 --> 00:09:35,480 I actually recognize it's all about me. 269 00:09:35,480 --> 00:09:36,880 So it all comes crumbling down. 270 00:09:36,880 --> 00:09:38,440 And you realize, you know what? 271 00:09:38,440 --> 00:09:39,960 This is not all about me. 272 00:09:39,960 --> 00:09:42,000 Now, if someone would have helped me, first, 273 00:09:42,000 --> 00:09:43,160 never would have collapsed. 274 00:09:43,160 --> 00:09:44,760 I would have survived all that. 275 00:09:44,760 --> 00:09:45,200 No problem. 276 00:09:45,200 --> 00:09:46,040 Would have got through it. 277 00:09:46,040 --> 00:09:49,200 But you have to bring them in because that wisdom 278 00:09:49,200 --> 00:09:51,800 that someone like 35 years in business I can bring 279 00:09:51,800 --> 00:09:55,440 will compress 10 years of causing mistakes, bad decisions, 280 00:09:55,440 --> 00:09:56,960 poor relationships, right? 281 00:09:56,960 --> 00:09:58,640 All that stuff we can get because we've already 282 00:09:58,640 --> 00:09:59,840 been through it. 283 00:09:59,840 --> 00:10:01,880 So it's really important to understand 284 00:10:01,880 --> 00:10:04,120 that's how you compress time. 285 00:10:04,120 --> 00:10:06,640 So whether you're two or three or five years in 286 00:10:06,640 --> 00:10:08,480 and you feel like you're getting stuck, 287 00:10:08,480 --> 00:10:10,440 that's when you bring the outside eyes in. 288 00:10:10,440 --> 00:10:12,160 You've got things going that's good. 289 00:10:12,160 --> 00:10:13,760 But like you said, you sharpen it. 290 00:10:13,760 --> 00:10:17,120 Hone it so you can get back on track so you're cutting faster, 291 00:10:17,120 --> 00:10:19,520 moving quicker, bringing the right people on, 292 00:10:19,520 --> 00:10:23,080 having your business attract the right people who can actually 293 00:10:23,080 --> 00:10:24,920 thrive in your culture and continue 294 00:10:24,920 --> 00:10:28,640 to move this business forward with you just at the helm 295 00:10:28,640 --> 00:10:30,240 and not down in the engine room. 296 00:10:30,240 --> 00:10:30,920 Absolutely. 297 00:10:30,920 --> 00:10:32,800 So really important to think about that. 298 00:10:32,800 --> 00:10:34,640 Compressing time. 299 00:10:34,640 --> 00:10:37,800 That's probably going to stick in my head all day long 300 00:10:37,800 --> 00:10:39,080 as I continue on. 301 00:10:39,080 --> 00:10:42,280 And you mentioned war several times. 302 00:10:42,280 --> 00:10:44,800 Were you in the military? 303 00:10:44,800 --> 00:10:45,640 I'm a Marine. 304 00:10:45,640 --> 00:10:46,520 Yes, I'm a Marine. 305 00:10:46,520 --> 00:10:48,360 So that's where it kind of comes from. 306 00:10:48,360 --> 00:10:49,880 Yes, yes, yes. 307 00:10:49,880 --> 00:10:51,200 Thank you for your service. 308 00:10:51,200 --> 00:10:53,400 I see war room behind you. 309 00:10:53,400 --> 00:10:55,520 And I loved that movie. 310 00:10:55,520 --> 00:10:57,800 I totally loved that movie. 311 00:10:57,800 --> 00:11:01,840 So with that being said and being kind of your time, 312 00:11:01,840 --> 00:11:03,400 I have a question. 313 00:11:03,400 --> 00:11:06,720 Just give me two or however long you want to go. 314 00:11:06,720 --> 00:11:08,640 I just don't want you to go overtime. 315 00:11:08,640 --> 00:11:10,040 You probably have something to do. 316 00:11:10,040 --> 00:11:12,760 But tips for early entrepreneurs. 317 00:11:17,200 --> 00:11:19,800 I just start with get. 318 00:11:19,800 --> 00:11:21,160 So we will talk about this. 319 00:11:21,160 --> 00:11:23,200 We get a mentor. 320 00:11:23,200 --> 00:11:25,520 Mentors are different than coaches. 321 00:11:25,520 --> 00:11:27,800 Mentor is someone who's been where you want to go. 322 00:11:27,800 --> 00:11:28,680 They're already there. 323 00:11:28,680 --> 00:11:30,360 They're successful. 324 00:11:30,360 --> 00:11:32,160 Get their ear. 325 00:11:32,160 --> 00:11:33,440 Ask them a question here or there. 326 00:11:33,440 --> 00:11:34,680 Now, don't beat them up. 327 00:11:34,680 --> 00:11:38,800 Don't try to drag the life out of them because it's free. 328 00:11:38,800 --> 00:11:41,880 Be very respectful, but listen to what they have to say. 329 00:11:41,880 --> 00:11:44,960 They will give you one or two little nuggets that'll, again, 330 00:11:44,960 --> 00:11:46,400 time compression. 331 00:11:46,400 --> 00:11:48,440 They'll save you from making some really dumb mistakes. 332 00:11:48,440 --> 00:11:51,160 In your head, you think you got it. 333 00:11:51,160 --> 00:11:52,200 It makes sense to you. 334 00:11:52,200 --> 00:11:54,080 If you need to talk to someone who's already been there, 335 00:11:54,080 --> 00:11:55,280 go, yeah, I thought that too. 336 00:11:55,280 --> 00:11:56,560 But it doesn't work like that. 337 00:11:56,560 --> 00:11:57,360 It works like this. 338 00:11:57,360 --> 00:11:59,840 You go, oh, then you do that and poof. 339 00:11:59,840 --> 00:12:02,080 You just jumped ahead two steps. 340 00:12:02,080 --> 00:12:04,520 So really important to seek those people out. 341 00:12:04,520 --> 00:12:08,840 Find out who's been where you're at, who's where you want to go. 342 00:12:08,840 --> 00:12:09,880 That's key. 343 00:12:09,880 --> 00:12:12,800 Another thing is just be sure when you begin, 344 00:12:12,800 --> 00:12:14,440 you understand where you're going to go, 345 00:12:14,440 --> 00:12:15,800 like we spoke about earlier. 346 00:12:15,800 --> 00:12:17,120 Exit strategy. 347 00:12:17,120 --> 00:12:18,680 The best time to do an exit strategy 348 00:12:18,680 --> 00:12:20,760 is before you launch your business. 349 00:12:20,760 --> 00:12:21,560 Is it 10 years? 350 00:12:21,560 --> 00:12:22,720 Is it 20 years? 351 00:12:22,720 --> 00:12:27,720 When you have somewhere to go so now you can dial that backwards 352 00:12:27,720 --> 00:12:30,160 and understand when you can hire your first person, 353 00:12:30,160 --> 00:12:32,600 you'll actually know when you need to because you've 354 00:12:32,600 --> 00:12:33,720 done your exit strategy. 355 00:12:33,720 --> 00:12:35,680 How are you going to create passive income 356 00:12:35,680 --> 00:12:37,440 to replace your active business income 357 00:12:37,440 --> 00:12:39,640 that you're making in the business when you leave? 358 00:12:39,640 --> 00:12:42,080 If you sell it, you're going to lose all that money. 359 00:12:42,080 --> 00:12:43,920 You're not going to get that salary anymore 360 00:12:43,920 --> 00:12:45,520 because someone else bought your business. 361 00:12:45,520 --> 00:12:47,320 But if you can create assets that are now 362 00:12:47,320 --> 00:12:49,680 generating income to replace that when you get out, 363 00:12:49,680 --> 00:12:51,040 that's a big win. 364 00:12:51,040 --> 00:12:51,760 Yeah. 365 00:12:51,760 --> 00:12:53,880 Now you're basically still getting your salary 366 00:12:53,880 --> 00:12:55,720 and you sell for a big number at the end. 367 00:12:55,720 --> 00:12:58,480 And now you go start another business and life is good. 368 00:12:58,480 --> 00:13:01,240 Those would be probably the two biggest things I would say do. 369 00:13:01,240 --> 00:13:02,280 I love that. 370 00:13:02,280 --> 00:13:05,560 So the tips is get a mentor and know where you're going to go 371 00:13:05,560 --> 00:13:08,800 and create an exit strategy when you begin your business. 372 00:13:08,800 --> 00:13:10,120 Thank you for being here today. 373 00:13:10,120 --> 00:13:12,600 I'm really happy that you tuned in to Vision Pros Live. 374 00:13:12,600 --> 00:13:16,480 I'm looking forward to seeing your reactions as these episodes 375 00:13:16,480 --> 00:13:17,520 continue to move forward. 376 00:13:17,520 --> 00:13:19,240 This is going to get more and more fun. 377 00:13:19,240 --> 00:13:21,080 We'll have more and more engagement as well. 378 00:13:21,080 --> 00:13:23,160 We'll invite people to participate in the show. 379 00:13:23,160 --> 00:13:25,520 And thank you for giving us your time and attention. 380 00:13:25,520 --> 00:13:28,240 Have an excellent time building out your vision 381 00:13:28,240 --> 00:13:31,000 and becoming a Vision Pro yourself.