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All right. What's up, everybody? Welcome in to

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another episode of Vision Pros Live. I'm your

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show host, Jackson Callum, founder and CEO of

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First Class Business, and I got Vince Perry in

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the house. We're going to be talking about the

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great exit wave, why 63 % of entrepreneurs are

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selling now, and it is not just the silver tsunami.

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I had to ask that to Vince, too. I was like,

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Vince, tell me about this. Vince, let's dive

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into your vision, man. Welcome back to Vision

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Pros. Thank you so much, man. It's a pleasure

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to be here. Absolutely. So 63%, I had to ask,

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where does that stat come from? And so go ahead

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and elaborate for all of us on that. Yeah, the

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easy one I think everybody knows about is the

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baby boomers, right? They're all approaching

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their 70s, I think. And they're, you know, they

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don't have anything to do with the company. They

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don't know what to do with the company. Their

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kids don't want it and they don't just want it

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to dissolve. So they'd like to exit. And they're

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pretty good businesses, man. Like they're, you

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know, some of them are multi, multi -million

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dollar businesses and some of them are not, but

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they run well. either lack marketing or lack

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operations and just need somebody to go in there

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and turn it around or just increase it a little

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bit. But for the most part, these are pretty

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good companies. Like a lot of the home service

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industries, that's very, very hot right now.

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And it's a lot owned by these baby boomers. But

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the reason why it's such a high number is like

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I told you off air, it's not just baby boomers.

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My target for the most part, and obviously I

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still get baby boomers and Gen Xers who are about

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55 and they're also maybe thinking about retirement,

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but it's also the millennials, which is my generation.

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Millennials, if you know, I'm sure you do. we

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can't focus on one thing for longer. We can't

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focus on one thing for longer than five minutes.

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So what happens is we start a business, we're

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all in and we're just like, I don't want this

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business anymore. Or I'm into work week. I want

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to go do something new all the time. Or I'm into

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AI. I want to do AI. I want to do Airbnb now.

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I want to do something else. I want to sell this

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business. So what I'm noticing, because I've

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been on YouTube for over five years and my target

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audience have always just falled into. the 35

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to 45 year old, no, 25 to 45 year old range.

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And I was like, well, I guess I better change

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my content because I want the baby boomers. But

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then I was like, wait, no, I don't have to do

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that. My target could easily be 25 to 45 year

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old entrepreneurs who are looking to sell. And

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you'll be surprised. There's a couple of really

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good entrepreneur, like not organizations, but

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networking events that they have here, local

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in Tampa. And one of them in particular, I'm

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very impressed with where when I go to these

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events, they are they are lively. They are energetic.

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They are the youth of Tampa getting after it.

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And they're all entrepreneurs. And get ready

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for this. Most as soon as I tell them I'm an

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exit advisor, their first thing is, oh, yeah,

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I want to flip this. I want to sell this in two

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years. I want to sell this in five years. Mind

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you, it's like still a startup, but they're already

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thinking with the exit mind. Of course. I mean,

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look at what's happened with TikTok. Look at

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what happened with Instagram. Look at what happened

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with Snapchat. There's so much up. WhatsApp,

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all these apps are selling so much faster. And

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they've got the training from people like The

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Profit and from people like Grant Cardone and

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beyond. They've gotten to see that there's no

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reason to wait for that type of abundance. And

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so if they're in a business model based on Rich

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Dad Poor Dad's cash flow models, whether it's

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a dry cleaner or a laundromat or something. that

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is further here now. Again, they've been influenced

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by Tim Ferriss and other great leaders. They

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know that the sky's the limit. They have the

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whole universe right in front of them. So continue,

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Vince. It's funny you mentioned that because

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what I've noticed with the younger generation,

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even younger than my generation, is I have noticed

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an excellent, I've noticed an excellent like

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surgence of not just entrepreneurship, but just

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overall. I don't know if the word's intelligence

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because that's not the right word, but they're

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just so informed. Self -aware and aware. I mean

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informed. They are so informed because they have

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grown up in this social media age of all these

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influencers giving it all away, like Tim Ferriss

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said, like Gary Vee said. To me, that's... I

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don't know about you, but that's kind of a new

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thing where in the past people would kind of

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like be reserved unless you were in their circle

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and there wasn't really no social media where

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you could hear all the secrets where now it's

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just like that is the marketing method to get

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eyes is to give away as much as possible. So

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all these young people in their early 20s, you

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have a conversation with them and it's like having

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a conversation with like a 30 year old experienced

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entrepreneur because they know so much already.

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Correct. I am so lucky to be on the front end

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of that as a millennial, because when I won,

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I didn't get into the business because I cared

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about the money. I got into the business because

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I want to make a difference in the world. I'd

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come off of a mission. And two, I was working

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with Jake Larson at Video Power Marketing after

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having been part of Y Combinator, where we learned

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all about startups through. Paul Bukai, the mentor

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of Gmail, Matt Kass, the search director of Google,

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which is a freemium business model. And so as

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they worked on those models and got to see the

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advantage of it, to your point, it was an uphill

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drag. It was such a difficult thing to relate

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to everyday business owners and people want to

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know what you're doing. Like, why do you do it

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that way? That sounds stupid. And it was a very

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awkward conversation. But nowadays we have so

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much proof socially and through exits that we've

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been able to see publicly transform. It's like,

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okay, no, people are starting to get it and appreciate

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it and move towards it. So that's a really valuable

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aspect of what they're now growing up with. And

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if you haven't opened your eyes to that as a

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business owner, then by all means. today's the

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day let's let's do it let's look at it so we're

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going to be talking about um The concept of the

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exit window and what happens if people miss it.

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The hidden mistakes that can cost founders millions

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during an exit. I know you can protect us from

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some of those mistakes. The AI and how AI is

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impacting valuations as a supercharger or a deal

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killer. We've gotten to see both of those dynamics

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play out many times. Why some buyers are moving

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faster than ever. And what that means as well,

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if you're in a position to where you might want

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to sell. And really, guys, how to calm it all

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down too. I know you don't have to live at a

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pace where anxiety is your number one superpower.

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Let's not go there. Let's have a balance in life

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too. And that's one of the things I like about

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the way you show up, Ben. So let's pick one of

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those topics going to right now. And then let's

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take a little break and we'll come back and talk

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about the rest. Which one? Which one? Oh, whatever

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you want. I don't care. It's all valuable for

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sure. So then let's dive into the founders' mistakes.

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What are the mistakes that can cost the founders

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millions that aren't just like, duh? I mean,

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some of the founders' mistakes are obviously

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the big one for me, which is related to another

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topic that you mentioned just now a little bit,

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is just selling at the wrong time. It's a lot

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like the stock market, right? You want to buy

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when it's... low and you want to sell when it's

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high but the mentality just isn't like that like

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you don't want why would you want to sell when

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things are going so well oh that's a good point

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and typically you end up wanting to sell when

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things are going bad so a lot of times i get

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a conversation it's usually because i'm tired

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i don't want to do this anymore the business

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is not doing well uh who do you think would buy

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my business like it's just like a depressing

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conversation where It would be a lot easier to

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sell a business if it was actually things are

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going really, really well right now. Everything

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is happening. This could be a good time to at

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least shop the market, get a valuation, see what

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I can get for it. And then also get some advice

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from someone like me to say, well, look, this

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is what it is now. But maybe in a year you can

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do this if you keep doing this, because I won't

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allow it to go down. The funny thing about businesses.

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Yes, there are obviously. different things that

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could impact in the economy and stuff like that.

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That obviously does happen. But for the most

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part, the valuation of a business comes down

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to the valuation of the business. It comes down

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to the X's and O's and the numbers that are in

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the business. That's it. It doesn't have to do

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much with, with rising tides and different things.

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It's what the value of the business is today.

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Now there are trends and things that could cause

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that valuation to go down in the future. But

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for the most part, evaluation is just math. And

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that's what it is today because you're making

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this much profit and you're running the business

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this well. And that's what your valuation is

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today. So you want to try to sell it at your

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highest. Woo. You crushed that. By the way, I

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am in love with what you just said. The bromance

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just rose, by the way. You just leaned into things

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that other exit strategists I've talked to have

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never leaned into. For instance, that poker mentality

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mindset. They're like, don't get addicted to

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the rising tide that you have. Don't wait until

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it's too late. If you're in a business that...

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you're not carrying into your grave. And some

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of us are, and some of my initiatives, but some

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of my initiatives, no, I'm definitely going to

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sell those off as time goes on. So the person

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who comes to mind with that, and I'm going to

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find his name real quick. This is probably not

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the coolest thing I've ever done, but man, Groupon,

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the founder of Groupon, that poor guy. Yeah,

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Andrew Mason. I hope he's recovered from what

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he did, but he had an opportunity to sell his

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company for billions of dollars to Google. And

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he turned them down and it became one of them.

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It became the greatest laughingstock of all time

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for exit failures. His ego got the best of him.

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And then he did something else really dumb right

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after that, too. But I've done dumb things that

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haven't cost me billions of dollars. Oh, thank

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goodness. But or maybe I have. I didn't realize

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I just didn't get it published. But my friends,

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that is an extreme and very real example of exactly.

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what Vince is talking about. We've got to be

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aware of the opportunities that come our way.

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And if we're too addicted to the high of a successful

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moment, then that can put us in a position to

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where we make a stupid decision that hurts our

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family for generations. Let's not do that. Now

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we're going to talk about AI as well. I'm going

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to do something new and unique with this opportunity.

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Those of you who don't know as a podcaster, I

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have the luck on my end. I get to be the color

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commentator. Vince comes up with all the hard

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stuff. And then I get to fill the gaps and just

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ask hard questions. So I'm going to give Vince

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the opportunity to do the same thing when it

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comes to this challenge related to AI. We're

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going to take a short break. I'm going to talk

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about some AI related to those supercharged opportunities.

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And Vince can play devil's advocate and punch

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me in the face, you know, virtually. He's like,

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hey, Jackson, no, that's not it. Or he can also

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become a color commentator and help us evolve

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as best as possible. This is my gift to all of

00:10:29.690 --> 00:10:32.909
you. All right. Welcome in to Vision Pros Live

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with Jackson Callum. I'm your show host. We'll

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be doing. interviews for visionary entrepreneurs

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and guest leaders who are building fantastic

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visions out there. Hey everybody, welcome in

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to Vision Pros Live. I am super excited for Vince

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Perry to be in the house. This guy hits hard

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in the best of ways. And from what I've seen

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with love, he speaks Spanish too, which helps

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with my purpose to bridge the economic gap between

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North America, South America, and the rest of

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the world. I know he's working on that as well

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because he has heritage and ties to that. So

00:11:08.110 --> 00:11:09.889
for those of you who are listening in, we are

00:11:09.889 --> 00:11:12.090
talking about... the great exit wave and why

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63 % of entrepreneurs are selling now. And we're

00:11:14.570 --> 00:11:16.090
going to give you as many tips as we can for

00:11:16.090 --> 00:11:18.570
as well to help you prepare for selling your

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business and creating your ultimate American

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or worldwide dream. Um, or that shouldn't be

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limited to one country. We should all be able

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to thrive. And so with that, we're going to talk

00:11:26.269 --> 00:11:28.490
about some of these sponsors up here. These are

00:11:28.490 --> 00:11:30.500
entities. that we trust. And I'm going to tie

00:11:30.500 --> 00:11:32.879
this right into the lesson on how AI can help

00:11:32.879 --> 00:11:35.340
you either supercharge your business growth or

00:11:35.340 --> 00:11:38.220
create a catastrophic reality where people don't

00:11:38.220 --> 00:11:40.399
want to buy from you. So AI Mavericks, this is

00:11:40.399 --> 00:11:43.159
actually the entity of... austin armstrong and

00:11:43.159 --> 00:11:45.860
scott simpson and both of them have been mentors

00:11:45.860 --> 00:11:48.539
to me over the last year pretty much passively

00:11:48.539 --> 00:11:50.960
i did meet austin at social media marketing world

00:11:50.960 --> 00:11:52.740
and i was super floored with just how genuine

00:11:52.740 --> 00:11:54.759
and present he was with everybody that he talked

00:11:54.759 --> 00:11:57.059
to him always studying does this leader have

00:11:57.059 --> 00:11:59.000
the emotional intelligence to be able to lead

00:11:59.000 --> 00:12:01.940
well and lead far i also challenged them on some

00:12:01.940 --> 00:12:04.759
things on facebook in relation to ai and ethics

00:12:04.759 --> 00:12:06.960
and it was interesting because some leaders when

00:12:06.960 --> 00:12:08.840
you do that they will just block you or defer

00:12:08.840 --> 00:12:09.860
and you'd be like i don't want to talk to this

00:12:09.860 --> 00:12:12.970
guy he's he's a he's a hazard. No, Austin embraced

00:12:12.970 --> 00:12:14.870
it and was excited about the conversation. And

00:12:14.870 --> 00:12:16.610
that's the type of leader that I want to be working

00:12:16.610 --> 00:12:18.350
with long -term. And they're always paying attention

00:12:18.350 --> 00:12:20.730
to the most advanced techniques, which is why

00:12:20.730 --> 00:12:24.210
I pay my $59 a month to be part of AI Mavericks.

00:12:24.289 --> 00:12:27.210
I love having access to the advanced people who

00:12:27.210 --> 00:12:28.870
are also always accessing the other advanced

00:12:28.870 --> 00:12:30.970
people and giving me back the news report of

00:12:30.970 --> 00:12:32.850
what's going on in this world and how can we

00:12:32.850 --> 00:12:35.110
maximize those? Well, we also compete with the

00:12:35.110 --> 00:12:38.340
AI Mavericks. We have the AI marketplace at First

00:12:38.340 --> 00:12:40.519
Class Business. And this is super important because

00:12:40.519 --> 00:12:41.639
there are two different levels, two different

00:12:41.639 --> 00:12:43.379
stages, two different focuses. While they're

00:12:43.379 --> 00:12:45.320
focusing on the tools like a lot of other people,

00:12:45.379 --> 00:12:47.399
and they're doing a great job of working towards

00:12:47.399 --> 00:12:50.120
productivity and towards profitability, I see

00:12:50.120 --> 00:12:52.500
so many AI people obsessed with creating dumb

00:12:52.500 --> 00:12:54.820
images with bananas. And I don't understand it.

00:12:54.860 --> 00:12:56.620
It's not going to help your business move forward

00:12:56.620 --> 00:12:58.259
to distract yourself and your team members with

00:12:58.259 --> 00:13:00.600
that. We need to understand that all of you already

00:13:00.600 --> 00:13:03.480
have a superior intelligence to AI. You've been

00:13:03.480 --> 00:13:06.039
using it for more than two decades. of you more

00:13:06.039 --> 00:13:07.679
than three decades these systems have been out

00:13:07.679 --> 00:13:10.120
for a very long time and if you learn how to

00:13:10.120 --> 00:13:11.899
communicate well then you're not going to get

00:13:11.899 --> 00:13:13.659
replaced in this age of ai you're going to be

00:13:13.659 --> 00:13:15.299
able to train it continually you're going to

00:13:15.299 --> 00:13:16.600
be able to position yourselves you can position

00:13:16.600 --> 00:13:18.940
yourselves right now by using the professional

00:13:18.940 --> 00:13:21.620
resume audit that helps you see the shadows of

00:13:21.620 --> 00:13:23.799
your resume and how you can revamp it revamp

00:13:23.799 --> 00:13:26.759
your linkedin and revamp your ability to interview

00:13:26.759 --> 00:13:29.679
to showcase that you already are an ai expert

00:13:29.679 --> 00:13:31.879
your boss needs to know that they need to be

00:13:31.879 --> 00:13:34.039
able to see it and then on the business side

00:13:34.350 --> 00:13:36.509
The business bottlenecks are also what we showcase.

00:13:36.629 --> 00:13:39.389
That way you can see what's truly possible and

00:13:39.389 --> 00:13:41.769
pragmatic to implement right now. We don't want

00:13:41.769 --> 00:13:44.169
you to end up like crappy companies like RingCentral

00:13:44.169 --> 00:13:46.549
where I'm stuck in a holding pattern because

00:13:46.549 --> 00:13:48.549
their stupid AI won't get out of my way. They've

00:13:48.549 --> 00:13:51.370
spent millions on AI and they can't do it right.

00:13:51.820 --> 00:13:53.200
We aren't going to be able to do it right either

00:13:53.200 --> 00:13:55.820
unless we pragmatically see how do we create

00:13:55.820 --> 00:13:58.440
systems that amplify our lives, amplify the way

00:13:58.440 --> 00:14:00.779
that we serve others. And we do that in the AI

00:14:00.779 --> 00:14:02.480
marketplace. Founding members can join us for

00:14:02.480 --> 00:14:06.419
$50 a month or $500 for lifetime access. And

00:14:06.419 --> 00:14:08.340
my friends, if you don't have the financial means

00:14:08.340 --> 00:14:11.000
to join us, just apply for the grant. It's right

00:14:11.000 --> 00:14:13.019
below that. And you can get a free grant to be

00:14:13.019 --> 00:14:14.519
able to come in and work with us as honorary

00:14:14.519 --> 00:14:16.700
members. We don't want to leave anybody behind

00:14:16.700 --> 00:14:18.299
with the shift that's happening with AI right

00:14:18.299 --> 00:14:21.320
now. The Water Project. I also want to talk about

00:14:21.320 --> 00:14:22.820
that because we also don't want to leave people

00:14:22.820 --> 00:14:25.139
behind who don't even have access to AI. These

00:14:25.139 --> 00:14:27.539
people don't have access to clean drinking water,

00:14:27.620 --> 00:14:30.649
my friends. Please tune in. to your heart your

00:14:30.649 --> 00:14:32.850
ears your mind right now and think about what

00:14:32.850 --> 00:14:34.610
would it be like to be thirsty or to not know

00:14:34.610 --> 00:14:35.850
where you're going to get clean water for your

00:14:35.850 --> 00:14:38.389
kids and your kids having to leave school to

00:14:38.389 --> 00:14:40.169
go get water for the community you're having

00:14:40.169 --> 00:14:42.610
to leave work it would disrupt everything about

00:14:42.610 --> 00:14:44.009
what you're trying to build for yourselves and

00:14:44.009 --> 00:14:45.769
these people have to deal with that every single

00:14:45.769 --> 00:14:48.230
day well we have the opportunity to leverage

00:14:48.230 --> 00:14:51.269
the water project just like crowdfunding and

00:14:51.269 --> 00:14:53.350
i can commit twenty dollars or ten dollars to

00:14:53.350 --> 00:14:55.830
a project whatever it is i'm able to and they

00:14:55.830 --> 00:14:58.049
will show me the outcome of that specific project

00:14:58.049 --> 00:15:00.659
there are hundreds of villages that they're helping

00:15:00.659 --> 00:15:03.519
all throughout Africa in order to help these

00:15:03.519 --> 00:15:05.559
communities get access to water so they can focus

00:15:05.559 --> 00:15:07.179
on moving their lives forward. You can have a

00:15:07.179 --> 00:15:09.659
generational impact on a very small contribution.

00:15:09.840 --> 00:15:11.460
If you're really suffering financially and you

00:15:11.460 --> 00:15:14.460
can't do that, my hope is you'll take this website,

00:15:14.639 --> 00:15:16.220
you'll talk to your friends and family about

00:15:16.220 --> 00:15:18.440
it, maybe somebody over lunch. And look at this

00:15:18.440 --> 00:15:20.600
picture, my friends. These kids are celebrating

00:15:20.600 --> 00:15:22.980
water like most of our kids celebrate Christmas

00:15:22.980 --> 00:15:25.600
Day. how humbling is that so we've got eight

00:15:25.600 --> 00:15:27.659
billion people to help in this world my hope

00:15:27.659 --> 00:15:29.080
is that if you have something that's calling

00:15:29.080 --> 00:15:31.740
your attention more than the water project drop

00:15:31.740 --> 00:15:33.919
it in the comments give me the chance to take

00:15:33.919 --> 00:15:35.860
a look at i will personally look at every cause

00:15:35.860 --> 00:15:38.000
link that you give me and see what we can do

00:15:38.000 --> 00:15:40.059
to help and support those processes as well and

00:15:40.059 --> 00:15:41.720
i hope you join me on that we get back to helping

00:15:41.720 --> 00:15:44.340
every single one of you right now with vince

00:15:44.340 --> 00:15:46.779
perry vince perry let's dive right back in man

00:15:46.779 --> 00:15:50.279
all right let's do it Awesome. So going into

00:15:50.279 --> 00:15:53.799
the concept of the exit window and what happens

00:15:53.799 --> 00:15:56.220
if you miss it, this sounds like major FOMO that

00:15:56.220 --> 00:15:58.139
our AI created as we created this description.

00:15:58.259 --> 00:16:00.120
I'm not putting that on you. It's on me. Also

00:16:00.120 --> 00:16:02.179
the AI, I didn't give you a chance to hit back

00:16:02.179 --> 00:16:05.379
on AI or to talk and color commentate about how

00:16:05.379 --> 00:16:08.659
AI and supercharging the business or killing

00:16:08.659 --> 00:16:10.240
the business sales, how all that works. So let's

00:16:10.240 --> 00:16:12.870
just pull it all together. Sure. I mean, for

00:16:12.870 --> 00:16:16.009
one thing is you're going to want to have a business

00:16:16.009 --> 00:16:18.250
that's already sort of starting to implement

00:16:18.250 --> 00:16:19.850
it a little bit. If you're going to want to sell

00:16:19.850 --> 00:16:21.990
it, it's just becoming one of those things where

00:16:21.990 --> 00:16:23.850
if you've got some, all right, I mean, I'll give

00:16:23.850 --> 00:16:25.070
you even, I'll actually, I'll give you a great

00:16:25.070 --> 00:16:29.870
example. IP, intellectual property. Like that's

00:16:29.870 --> 00:16:33.250
a big one. When a business has an IP, has any

00:16:33.250 --> 00:16:34.929
kind of intellectual property, increases the

00:16:34.929 --> 00:16:37.570
value of the business like automatically. And

00:16:37.570 --> 00:16:39.169
really what you're able to do with AI is you're

00:16:39.169 --> 00:16:41.750
able to create. some different intellectual property

00:16:41.750 --> 00:16:43.769
by creating AI agents and different things that

00:16:43.769 --> 00:16:46.950
do things for you only for your business. So

00:16:46.950 --> 00:16:49.129
it kind of creates some IP that could ultimately

00:16:49.129 --> 00:16:50.929
increase the value of your business pretty quickly.

00:16:51.009 --> 00:16:54.809
So I like that part about it. Yeah. So then,

00:16:54.809 --> 00:16:57.509
and then also you've got SaaS companies, if they're

00:16:57.509 --> 00:17:02.200
not. If they don't have an opening in their model

00:17:02.200 --> 00:17:05.140
that integrates AI, which you would hope you

00:17:05.140 --> 00:17:06.819
would assume their SaaS company that they do.

00:17:06.900 --> 00:17:09.339
But if they don't, it's going to decrease the

00:17:09.339 --> 00:17:12.539
value of that business because now the new person

00:17:12.539 --> 00:17:14.240
in there is going to have to implement all of

00:17:14.240 --> 00:17:16.859
those things. So it just has to be sort of AI

00:17:16.859 --> 00:17:20.680
ready or already using AI to whether. And when

00:17:20.680 --> 00:17:22.799
I say these things, I'm always going to say it's

00:17:22.799 --> 00:17:25.180
either going to increase the value or decrease

00:17:25.180 --> 00:17:27.380
the value. I'm never going to say that. it just

00:17:27.380 --> 00:17:30.880
won't sell or it will sell because anybody will

00:17:30.880 --> 00:17:34.519
buy a business if they have the strengths to

00:17:34.519 --> 00:17:36.680
actually implement where that business is weak.

00:17:37.250 --> 00:17:39.609
Even if they don't, that's another challenge

00:17:39.609 --> 00:17:41.430
right there. A lot of athletes, for instance,

00:17:41.589 --> 00:17:43.730
end up making really, really bad investment decisions

00:17:43.730 --> 00:17:45.990
because they have the money to be able to do

00:17:45.990 --> 00:17:47.869
it, but they don't have the comprehension. And

00:17:47.869 --> 00:17:49.589
so there are people out there with money that

00:17:49.589 --> 00:17:52.190
don't have that comprehension. And I would also,

00:17:52.289 --> 00:17:54.009
let's not limit that to the athletes anymore.

00:17:54.329 --> 00:17:56.690
If you're building business plans with AI on

00:17:56.690 --> 00:17:59.450
your own and you have never done that before,

00:17:59.569 --> 00:18:02.710
you are either driving a Ferrari into a wall.

00:18:03.109 --> 00:18:05.349
Um, you know, with, with no, with no brake pedal

00:18:05.349 --> 00:18:07.650
or you're putting yourself in a position where

00:18:07.650 --> 00:18:09.450
you might hurt yourself and the other person

00:18:09.450 --> 00:18:12.029
involved. So, uh, these are, there's an old saying

00:18:12.029 --> 00:18:14.190
guys that the pen is mightier than the sword.

00:18:14.750 --> 00:18:16.950
We have nuclear pens in our hands now. That's

00:18:16.950 --> 00:18:19.650
what AI is. It's a nuclear pen. So be smart and

00:18:19.650 --> 00:18:22.730
be wise with it. Keep going. Yeah, I completely

00:18:22.730 --> 00:18:25.250
agree with that. Um, I don't know where I was

00:18:25.250 --> 00:18:27.769
going with this, but yeah, it's just, I mean,

00:18:27.789 --> 00:18:30.230
I'm just a firm believer that it's just very

00:18:30.230 --> 00:18:34.309
important to, to. to be using the tool and i'd

00:18:34.309 --> 00:18:36.670
like to just go on to say that that's what i

00:18:36.670 --> 00:18:41.349
think it is all of this talk about people being

00:18:41.349 --> 00:18:44.789
so afraid of ai and it's going to take all of

00:18:44.789 --> 00:18:46.490
these jobs and it's going to do all of these

00:18:46.490 --> 00:18:49.140
things I think to me what it boils down to, it's

00:18:49.140 --> 00:18:51.980
a tool that is only going to get better. And

00:18:51.980 --> 00:18:56.519
the only way we will be able to really just continue

00:18:56.519 --> 00:18:58.940
the further development of the human race is

00:18:58.940 --> 00:19:02.460
by using that tool. Use it with caution. Obviously,

00:19:02.460 --> 00:19:07.579
you don't want any of your private or materials

00:19:07.579 --> 00:19:12.079
or things that don't need to get out to the public.

00:19:12.140 --> 00:19:13.640
You don't want to be doing all of that. But for

00:19:13.640 --> 00:19:15.740
the most part, use the tool. And what do I mean

00:19:15.740 --> 00:19:18.849
by that is, employees that are concerned about

00:19:18.849 --> 00:19:21.630
their job being taken. What I hear you saying

00:19:21.630 --> 00:19:24.710
about that too, Vince, is don't be the lumberjack

00:19:24.710 --> 00:19:28.269
who refused to put down the ax stubbornly and

00:19:28.269 --> 00:19:32.029
pick the chainsaw up. Right. Exactly. I love

00:19:32.029 --> 00:19:35.809
that. If you are a regular employee working a

00:19:35.809 --> 00:19:38.230
nine to five job, and you're afraid that your

00:19:38.230 --> 00:19:40.509
job is going to be taken by AI because it's very

00:19:40.509 --> 00:19:43.869
automated or whatever it is. Start using the

00:19:43.869 --> 00:19:46.690
tool. Start playing with the tool. Start trying

00:19:46.690 --> 00:19:49.849
to implement the tool in your daily work and

00:19:49.849 --> 00:19:52.930
increase your productivity by using the tool

00:19:52.930 --> 00:19:56.529
to ultimately make yourself more valuable to

00:19:56.529 --> 00:19:59.529
your employer. And the more you do that, the

00:19:59.529 --> 00:20:02.430
better it will get. And if you do lose your job

00:20:02.430 --> 00:20:04.869
for whatever reason, if it's AI or whatever it

00:20:04.869 --> 00:20:07.230
is, I'm going to tell you one thing, that next

00:20:07.230 --> 00:20:10.420
job that you apply for. they're going to ask

00:20:10.420 --> 00:20:13.799
and want to know if you are using AI. Because

00:20:13.799 --> 00:20:16.640
I haven't made a hire in a while, but I will

00:20:16.640 --> 00:20:18.740
tell you, my next hire, that's going to be top

00:20:18.740 --> 00:20:21.819
of the list that it's going to be mandatory for

00:20:21.819 --> 00:20:25.299
my next employee to use AI. Very, very well said.

00:20:25.640 --> 00:20:27.299
We're going to go back to that concept of the

00:20:27.299 --> 00:20:29.339
exit window and what happens if you miss it.

00:20:29.420 --> 00:20:32.119
And if you miss it, guys, you don't exit. So

00:20:32.119 --> 00:20:34.119
obviously there's that answer. But Vince, let's

00:20:34.119 --> 00:20:36.140
highlight a little bit more color in relation

00:20:36.140 --> 00:20:38.259
to this. Why is the exit window important? What

00:20:38.259 --> 00:20:39.599
does that look like? How do you prepare for it?

00:20:39.619 --> 00:20:42.630
How do you recognize it? Yeah. I mean, you just

00:20:42.630 --> 00:20:44.190
have to recognize it if you're, if the business

00:20:44.190 --> 00:20:45.990
is doing well and it's running well. I had a

00:20:45.990 --> 00:20:48.869
client just recently that it's just, it's just

00:20:48.869 --> 00:20:51.109
going fantastic. And she was thinking about it,

00:20:51.130 --> 00:20:52.349
but she wasn't really thinking about it. When

00:20:52.349 --> 00:20:54.990
I gave her her valuation, she's like, Whoa, she's

00:20:54.990 --> 00:20:56.609
like, Holy crap. I didn't know it was worth that

00:20:56.609 --> 00:20:58.809
much. When usually I get the other reaction.

00:20:58.869 --> 00:21:01.779
Oh, wow. It's not worth it. That's it. So. I

00:21:01.779 --> 00:21:04.619
told her it's a great time, but I was just talking,

00:21:04.759 --> 00:21:06.539
and she also has a business coach, and we were

00:21:06.539 --> 00:21:08.339
talking, and apparently she's not going to exit

00:21:08.339 --> 00:21:10.019
yet. She's going to keep. I said, oh, man, but

00:21:10.019 --> 00:21:11.619
now is the perfect time, and the business coach

00:21:11.619 --> 00:21:14.619
agreed with me. It's just when things are going

00:21:14.619 --> 00:21:16.819
well, when the operations are running smoothly,

00:21:17.039 --> 00:21:19.299
when leads are coming in, when you're getting

00:21:19.299 --> 00:21:22.079
good results and customers are happy, when all

00:21:22.079 --> 00:21:24.299
is going relatively well, you should at least

00:21:24.299 --> 00:21:27.200
get evaluation and consider it because you never

00:21:27.200 --> 00:21:29.569
know what could happen. You could always do something

00:21:29.569 --> 00:21:31.150
else. Now, yeah, when you do sell a business,

00:21:31.250 --> 00:21:33.890
you typically sign a non -compete where you can't

00:21:33.890 --> 00:21:36.269
open that same kind of business within the area

00:21:36.269 --> 00:21:38.670
for about three years or so. But for the most

00:21:38.670 --> 00:21:40.849
part, you know, I mean, if the time is the time,

00:21:40.930 --> 00:21:42.690
I mean, I don't know. I don't know how else to

00:21:42.690 --> 00:21:44.809
say it. Right. No, no, that makes a lot of sense.

00:21:44.910 --> 00:21:46.789
And you said two things that are easy for most

00:21:46.789 --> 00:21:49.730
entrepreneurs to accidentally think that they

00:21:49.730 --> 00:21:52.410
have strengths with. You said. I think about

00:21:52.410 --> 00:21:54.410
the timing, but what really caught my eye was,

00:21:54.430 --> 00:21:57.089
is the business running well? And I think there's

00:21:57.089 --> 00:21:58.789
so many business owners who think that their

00:21:58.789 --> 00:22:00.589
business is running well, but in reality, they're

00:22:00.589 --> 00:22:03.849
just running their butts off. And it's them who's

00:22:03.849 --> 00:22:06.009
running well, but the business is not running

00:22:06.009 --> 00:22:08.170
well without their presence. You want to talk

00:22:08.170 --> 00:22:10.470
to that? Yeah, that's huge. That's a big valuation

00:22:10.470 --> 00:22:12.809
killer. We call it owner dependency. When you're

00:22:12.809 --> 00:22:15.269
working in the business 30, 40, 50, 60 hours

00:22:15.269 --> 00:22:17.109
a week and you're doing everything and making

00:22:17.109 --> 00:22:20.049
a bunch of decisions, yeah, that's a big no -no.

00:22:20.390 --> 00:22:22.470
Now, if you're a startup and you're in the first

00:22:22.470 --> 00:22:24.650
year or two and you still haven't broke a million

00:22:24.650 --> 00:22:26.430
yet, then by all means, you're the owner, you

00:22:26.430 --> 00:22:28.089
do everything, do what you got to do to at least

00:22:28.089 --> 00:22:31.519
get to that first million. But if you are beyond

00:22:31.519 --> 00:22:34.660
that and you're still working in it and you think

00:22:34.660 --> 00:22:37.079
that you have to work harder in order to generate

00:22:37.079 --> 00:22:39.799
more revenue, I will be the first to tell you

00:22:39.799 --> 00:22:41.640
that that's just not how it goes. Then you are

00:22:41.640 --> 00:22:44.460
not a good leader and you are just doing too

00:22:44.460 --> 00:22:46.619
many things. So it's time to actually take a

00:22:46.619 --> 00:22:49.019
step back and really think about actually building

00:22:49.019 --> 00:22:51.279
your people more than actually building the company

00:22:51.279 --> 00:22:53.839
because that, to me, is the key. So is that a

00:22:53.839 --> 00:22:56.460
good benchmark then? And again, correct me if

00:22:56.460 --> 00:22:59.349
I'm wrong. No, no, no. The benchmark, the benchmark

00:22:59.349 --> 00:23:02.490
of 1 million. So if I've got to a million dollars

00:23:02.490 --> 00:23:05.150
in revenue over the course of my business or

00:23:05.150 --> 00:23:07.650
over one year period, is that when I get evaluated?

00:23:07.930 --> 00:23:11.210
Yeah. Oh, when you get evaluated, I would say

00:23:11.210 --> 00:23:13.890
to probably at least give at least one year because

00:23:13.890 --> 00:23:15.869
you could put a valuation. I could put a valuation

00:23:15.869 --> 00:23:18.809
together based on 12 months of financials. So

00:23:18.809 --> 00:23:20.549
you could do it the first year and you could

00:23:20.549 --> 00:23:22.349
do it every year after that. I would recommend

00:23:22.349 --> 00:23:24.650
just getting a valuation every year. And then

00:23:24.650 --> 00:23:27.039
and then as you are. in business more and more,

00:23:27.200 --> 00:23:29.940
I'll do evaluation over three years is where

00:23:29.940 --> 00:23:32.279
I really like to do it. And some brokers and

00:23:32.279 --> 00:23:34.380
some advisors do evaluation over five years.

00:23:34.880 --> 00:23:37.140
And then you could just take the first three

00:23:37.140 --> 00:23:39.559
years and see where you're at. But you could

00:23:39.559 --> 00:23:42.420
do it year over year as well. And it's definitely

00:23:42.420 --> 00:23:45.079
a great benchmark to understand. And one thing

00:23:45.079 --> 00:23:48.059
that I want business owners to try to look at

00:23:48.059 --> 00:23:51.730
their business more as an asset. as opposed to

00:23:51.730 --> 00:23:54.289
sort of the way they generate revenue. I always

00:23:54.289 --> 00:23:56.970
want now to convince business owners to look

00:23:56.970 --> 00:23:58.529
at their business like almost a piece of real

00:23:58.529 --> 00:24:02.930
estate, that you want to invest your efforts.

00:24:03.680 --> 00:24:06.319
to increase its value. So like when you buy an

00:24:06.319 --> 00:24:08.359
apartment building and you renovate it, and now

00:24:08.359 --> 00:24:10.059
you increase rent and you do all these things,

00:24:10.119 --> 00:24:11.819
you put all that work and you put all that time

00:24:11.819 --> 00:24:14.059
into it in the beginning to increase its value

00:24:14.059 --> 00:24:16.579
right away. I want people to look at their business

00:24:16.579 --> 00:24:19.339
that way as well. Like what are the inputs that

00:24:19.339 --> 00:24:21.420
you're putting into your company that not only

00:24:21.420 --> 00:24:23.660
generates more revenue, but also generates more

00:24:23.660 --> 00:24:25.759
value? Because at the end of the day, exit strategy,

00:24:25.980 --> 00:24:28.240
which is increasing value, value acceleration.

00:24:28.920 --> 00:24:31.259
is great business strategy. And what normally

00:24:31.259 --> 00:24:34.299
happens when we have our 90 -day check -in, which

00:24:34.299 --> 00:24:36.240
is I do a check -in with all my clients. Every

00:24:36.240 --> 00:24:38.980
90 days, we go over the goals from the previous

00:24:38.980 --> 00:24:41.920
90 days. And then the next 90 days, no matter

00:24:41.920 --> 00:24:45.140
what, we're always... Oh, I lost my train of

00:24:45.140 --> 00:24:46.819
thought. But we're always thinking about making

00:24:46.819 --> 00:24:48.259
sure that we're increasing the value because

00:24:48.259 --> 00:24:50.359
as we increase value, we also increase revenue.

00:24:51.160 --> 00:24:53.700
That's huge. And so... Vince, I've had these

00:24:53.700 --> 00:24:56.279
conversations a lot. My first startup was invested

00:24:56.279 --> 00:24:58.000
in by Paul Bukai, the inventor of Gmail, and

00:24:58.000 --> 00:25:00.339
Matt Kuss, the search director of Google. We

00:25:00.339 --> 00:25:02.980
raised $10 million with them after almost bleeding

00:25:02.980 --> 00:25:05.440
out. My second company, Restaurant Connect, we

00:25:05.440 --> 00:25:07.220
ended up raising $100 ,000 in the Baylor Angel

00:25:07.220 --> 00:25:10.079
Network. When I went to Video Power Marketing,

00:25:10.339 --> 00:25:13.079
we worked with John Lee Dumas on his Kickstarter

00:25:13.079 --> 00:25:15.460
launch. We worked with Michael Hyatt, T. Harv

00:25:15.460 --> 00:25:17.460
Ecker, Lewis Howes, et cetera. The point I'm

00:25:17.460 --> 00:25:19.599
making with this, my friends, all of you listening

00:25:19.599 --> 00:25:21.960
as visionaries, I don't think I've ever had this

00:25:21.960 --> 00:25:24.940
clear of a conversation on the value of exiting.

00:25:25.119 --> 00:25:27.400
And that says a lot about the powers that you

00:25:27.400 --> 00:25:29.279
have as somebody who's been doing this for so

00:25:29.279 --> 00:25:30.940
long. So I want to thank you right off the bat

00:25:30.940 --> 00:25:33.859
and say, holy crap, I've learned a lot. And two,

00:25:33.900 --> 00:25:37.059
I want to dive into this. How much does it cost

00:25:37.059 --> 00:25:39.539
to get the value business value? Are we talking

00:25:39.539 --> 00:25:42.359
about, you know, I got to give you $20 ,000 every

00:25:42.359 --> 00:25:44.400
year in order to do that? Or what does that look

00:25:44.400 --> 00:25:46.720
like? So, I mean, typically, if you just want

00:25:46.720 --> 00:25:48.380
a chicken scratch valuation, I'll do that for

00:25:48.380 --> 00:25:50.430
free. I don't mind doing that at all. Anybody

00:25:50.430 --> 00:25:52.450
that wants a quick valuation, it's not going

00:25:52.450 --> 00:25:54.130
to be the most accurate because I would have

00:25:54.130 --> 00:25:56.109
to do a deep research on the financials and everything.

00:25:56.589 --> 00:25:59.130
But it's just a standard chicken scratch valuation.

00:26:00.009 --> 00:26:02.049
I'll do that. Just give me your financials for

00:26:02.049 --> 00:26:03.410
the last three years and I could put something

00:26:03.410 --> 00:26:06.430
together. If you want to really have clarity

00:26:06.430 --> 00:26:09.609
on your entire business, on your exit readiness,

00:26:09.789 --> 00:26:12.509
on your business attractiveness, if you want

00:26:12.509 --> 00:26:15.220
to establish what your wealth goal is. and what

00:26:15.220 --> 00:26:17.279
the wealth gap is, and what the target number

00:26:17.279 --> 00:26:20.380
should be for you to exit at, and exactly the

00:26:20.380 --> 00:26:22.619
steps you need to take to get there, then I have

00:26:22.619 --> 00:26:25.039
what's called a value clarity roadmap. That's

00:26:25.039 --> 00:26:28.819
$3 ,000. Usually takes about a week or two to

00:26:28.819 --> 00:26:31.480
complete, along with a two to three hour deep

00:26:31.480 --> 00:26:35.819
dive where I sit with you and I undress you virtually

00:26:35.819 --> 00:26:38.440
and find out everything that's going on within

00:26:38.440 --> 00:26:40.559
your business. And I also go into the personal

00:26:40.559 --> 00:26:43.400
life as well as to... What does life after exit

00:26:43.400 --> 00:26:46.359
look like? That's a big one for the baby boomers.

00:26:46.440 --> 00:26:50.460
You know, a lot of them are just tired and they

00:26:50.460 --> 00:26:52.279
just want to retire. And they've been working

00:26:52.279 --> 00:26:55.220
at this business for 30 plus years. And they

00:26:55.220 --> 00:26:57.940
don't realize that this, for the last 30 plus

00:26:57.940 --> 00:27:00.980
years, this has consumed their lives. And the

00:27:00.980 --> 00:27:04.599
day that they let it go, I believe it's 80 %

00:27:04.599 --> 00:27:07.839
of business owners that sell their business regret

00:27:07.839 --> 00:27:12.809
the decision one year after. Hmm. I don't want

00:27:12.809 --> 00:27:16.529
people who sell their businesses end up regretting

00:27:16.529 --> 00:27:20.549
it after one year. And I'm assuming that's more

00:27:20.549 --> 00:27:23.970
of the baby boomers because I have, I have a

00:27:23.970 --> 00:27:27.049
client now that, you know, I'm very passionate

00:27:27.049 --> 00:27:29.250
about this subject because I mean, I'll, I'll

00:27:29.250 --> 00:27:32.009
be full disclosure with you. You know, I've learned

00:27:32.009 --> 00:27:34.309
over the years, I learned with my mom, retirement

00:27:34.309 --> 00:27:37.779
is overrated. She was a school guidance, elementary

00:27:37.779 --> 00:27:40.539
school guidance, school counselor for 30 plus

00:27:40.539 --> 00:27:43.039
years. She retired and all she wanted to do was

00:27:43.039 --> 00:27:45.460
travel. And all she wanted to do was all kinds

00:27:45.460 --> 00:27:48.519
of stuff. And within, within less than a year,

00:27:48.619 --> 00:27:52.660
we started to notice the dementia. And then after

00:27:52.660 --> 00:27:55.160
five, six years, I think maybe it's been seven

00:27:55.160 --> 00:27:57.359
years or eight years now, you know, she's in

00:27:57.359 --> 00:27:59.980
memory care because of, you know, very late stage

00:27:59.980 --> 00:28:03.640
dementia. My aunt, her sister -in -law, same

00:28:03.640 --> 00:28:07.480
thing, same exact road. a school teacher, 30

00:28:07.480 --> 00:28:10.539
plus years, retired, dementia. We just visited

00:28:10.539 --> 00:28:14.019
a friend in Miami, her husband, 20 some odd years

00:28:14.019 --> 00:28:16.880
in the police force. Five years later, memory

00:28:16.880 --> 00:28:20.799
care. He's like 65 years old. And I do believe

00:28:20.799 --> 00:28:23.660
that it's that loss of purpose. It's that loss

00:28:23.660 --> 00:28:26.539
of the mind working on a daily basis, making

00:28:26.539 --> 00:28:28.859
decisions and so on and so forth that if you

00:28:28.859 --> 00:28:31.359
don't figure out what you're going to do after

00:28:31.359 --> 00:28:34.220
you retire, or in this case, after you sell your

00:28:34.220 --> 00:28:37.079
business, you know you you're you're in deep

00:28:37.079 --> 00:28:38.940
trouble that's something i'm actually very passionate

00:28:38.940 --> 00:28:40.240
about we don't get that with the millennials

00:28:40.240 --> 00:28:43.039
but you know that's with the baby boomers well

00:28:43.039 --> 00:28:45.299
i get that well and there are plenty of millennials

00:28:45.299 --> 00:28:48.440
who are still following roads to riches um you

00:28:48.440 --> 00:28:51.180
know rather than roads to prosperity um and so

00:28:51.180 --> 00:28:54.029
the The opportunity that exists for that is so

00:28:54.029 --> 00:28:56.650
massive and important, my friends. I'm going

00:28:56.650 --> 00:28:59.670
to drop a link in the comments as well for our

00:28:59.670 --> 00:29:01.990
Passion Pro program. We have that available for

00:29:01.990 --> 00:29:04.890
free. It's something that is super near and dear

00:29:04.890 --> 00:29:07.890
to my heart as well because I meet so many people

00:29:07.890 --> 00:29:10.130
who have not found their passion and therefore

00:29:10.130 --> 00:29:12.559
they're not living with purpose. And we teach

00:29:12.559 --> 00:29:14.559
them how to lead with love as well with what

00:29:14.559 --> 00:29:17.019
they do. And that recipe for me would create

00:29:17.019 --> 00:29:19.420
a very, very good future for anybody, regardless

00:29:19.420 --> 00:29:21.299
of what stage you're at. I've seen it help so

00:29:21.299 --> 00:29:23.559
many people. Passion Bro started as an assessment

00:29:23.559 --> 00:29:25.440
that I did internally for all of my team members,

00:29:25.579 --> 00:29:27.599
because I wanted to make sure that people I'm

00:29:27.599 --> 00:29:29.240
attracting in my business are here for the right

00:29:29.240 --> 00:29:31.180
reason. And I wanted to make sure I wanted to

00:29:31.180 --> 00:29:32.740
find out where they're going and what they wanted

00:29:32.740 --> 00:29:34.180
to accomplish, because it also tells me when

00:29:34.180 --> 00:29:36.420
they're probably going to quit. It helps me see

00:29:36.420 --> 00:29:38.359
what, like, oh, okay, they wanted that. It's

00:29:38.359 --> 00:29:39.599
going to take them about three years. Okay, if

00:29:39.599 --> 00:29:41.400
we helped them get there, cool. But now I can

00:29:41.400 --> 00:29:44.039
start planning for their exit so we can create

00:29:44.039 --> 00:29:46.039
more stability for what we're doing. But we also

00:29:46.039 --> 00:29:47.740
get to have the cool story of like, hey, look

00:29:47.740 --> 00:29:49.759
what we helped so -and -so accomplish. So there's

00:29:49.759 --> 00:29:52.980
so many valuable options when you've discovered

00:29:52.980 --> 00:29:55.559
what those passions are. And again, yes, we have

00:29:55.559 --> 00:29:57.539
the upper hand as younger individuals who went

00:29:57.539 --> 00:30:00.740
to schools where life was starting to... level

00:30:00.740 --> 00:30:02.259
out our parents had a little bit more wealth

00:30:02.259 --> 00:30:04.759
and so we were able to focus on things that we

00:30:04.759 --> 00:30:06.779
liked and nintendo and video games and stuff

00:30:06.779 --> 00:30:09.220
opened our eyes to all sorts of cool possibilities

00:30:09.220 --> 00:30:14.660
so you you crushed that um as well but i want

00:30:14.660 --> 00:30:16.720
to there was something that you said that i want

00:30:16.720 --> 00:30:19.569
to go oh this this value opportunity guys I don't

00:30:19.569 --> 00:30:21.650
think I've ever met an exit strategist who is

00:30:21.650 --> 00:30:24.529
willing to say, I'd put a chicken scratch valuation

00:30:24.529 --> 00:30:26.730
together. And I've met some great people, but

00:30:26.730 --> 00:30:28.650
they know the value of their time and they know

00:30:28.650 --> 00:30:30.130
the value of their skill set and mindset. So

00:30:30.130 --> 00:30:32.490
thank you for being humble, open, and honest

00:30:32.490 --> 00:30:35.549
and willing on that. Visionaries, figure out

00:30:35.549 --> 00:30:37.450
your valuations. I'm going to. I'm going to be

00:30:37.450 --> 00:30:39.150
talking to Vince about it. Like, okay, I'll give

00:30:39.150 --> 00:30:41.170
him a shot. And like he said, that will then

00:30:41.170 --> 00:30:43.109
allow me to know what is it that we lack? Where

00:30:43.109 --> 00:30:45.250
are our weaknesses? Where are our threats? And

00:30:45.250 --> 00:30:46.509
what are the things that we could be talking,

00:30:46.509 --> 00:30:48.170
could be working on in order to make sure that

00:30:48.170 --> 00:30:50.230
we're creating abundance with what we do? Not

00:30:50.230 --> 00:30:52.369
because this is a get rich quick opportunity,

00:30:52.410 --> 00:30:55.289
not because it's all about the money. What it

00:30:55.289 --> 00:30:57.430
is, is there's an abundant opportunity to say,

00:30:57.470 --> 00:30:59.990
you know what? My vision matters and the health

00:30:59.990 --> 00:31:01.990
of my finances matter too, because that's the

00:31:01.990 --> 00:31:05.170
vehicle for what helps my vision reach more people.

00:31:05.230 --> 00:31:07.890
I will be more effective no matter where I'm

00:31:07.890 --> 00:31:10.529
at financially. If I have another $100 ,000 come

00:31:10.529 --> 00:31:12.990
in than if I'm where I'm at right now, or if

00:31:12.990 --> 00:31:14.869
I have a hundred million come in, there's so

00:31:14.869 --> 00:31:17.130
much more I can do for the world with that, even

00:31:17.130 --> 00:31:19.130
if you just want to give it away. So please don't

00:31:19.130 --> 00:31:21.230
overlook the importance of being a wise steward

00:31:21.230 --> 00:31:23.849
as you move forward. So let's go to the often

00:31:23.849 --> 00:31:26.559
overlooked. post exit identity crisis that you

00:31:26.559 --> 00:31:30.599
talked about that founders are facing for younger

00:31:30.599 --> 00:31:33.220
people? Is that, is that a thing too? Do you

00:31:33.220 --> 00:31:35.559
see younger people end up in a position where

00:31:35.559 --> 00:31:37.740
they don't know what to do after their exit or

00:31:37.740 --> 00:31:40.359
the younger people tend to drive more purpose

00:31:40.359 --> 00:31:42.920
-driven brands? Yeah. I mean, usually they already

00:31:42.920 --> 00:31:45.240
have a plan on what they want to do, but here's

00:31:45.240 --> 00:31:47.579
where I come in as well. So as a business owner

00:31:47.579 --> 00:31:50.539
for 17 years, it's scaled five different businesses.

00:31:51.440 --> 00:31:53.880
Um, I haven't, I have a client right now who

00:31:53.880 --> 00:31:57.640
he wants to sell his company and, uh, and he

00:31:57.640 --> 00:31:59.859
wants to start another company. Anyway, the point

00:31:59.859 --> 00:32:02.359
that I want to make is where I come in with that

00:32:02.359 --> 00:32:04.579
is like, okay, you want to sell your company.

00:32:04.799 --> 00:32:07.660
You need X amount of money to sell your company.

00:32:07.859 --> 00:32:10.420
And then you want to start, uh, this is, this

00:32:10.420 --> 00:32:13.019
is X company. You want to start Y company. Okay,

00:32:13.079 --> 00:32:15.099
great. Now what's the business plan for that?

00:32:15.390 --> 00:32:17.089
How much money are you going to need? Are you

00:32:17.089 --> 00:32:18.549
going to need a storefront? Are you going to

00:32:18.549 --> 00:32:20.230
have to buy materials? What kind of marketing

00:32:20.230 --> 00:32:21.730
plan do you have? Are you going to spend money

00:32:21.730 --> 00:32:24.210
on ads? So what I do is I actually help them.

00:32:24.549 --> 00:32:26.369
How are we going to take the money from this

00:32:26.369 --> 00:32:29.390
exit to put into your new business? And we want

00:32:29.390 --> 00:32:33.049
to know exactly the budget for your startup.

00:32:33.599 --> 00:32:35.339
So that you know exactly how much money you have

00:32:35.339 --> 00:32:37.160
for that and how much money you have for everything

00:32:37.160 --> 00:32:39.059
else. You want to take a year off. You want to

00:32:39.059 --> 00:32:40.720
take six months off. Totally understandable.

00:32:41.099 --> 00:32:42.920
And then at least you could have this money aside

00:32:42.920 --> 00:32:45.880
already and all the plans and the business plan

00:32:45.880 --> 00:32:47.900
and the marketing plan, all of it set up to go

00:32:47.900 --> 00:32:50.019
so that you could start your next company. I

00:32:50.019 --> 00:32:53.420
also help with that as well. Huge. So these younger

00:32:53.420 --> 00:32:55.420
guys too, again, and we're going back to this

00:32:55.420 --> 00:32:57.059
purpose and passion aspect. We're just going

00:32:57.059 --> 00:32:58.859
to keep hitting so you guys can keep taking notes

00:32:58.859 --> 00:33:02.609
on all this awesome stuff. mind boggled by how

00:33:02.609 --> 00:33:05.789
many vape shops opened up over the last several

00:33:05.789 --> 00:33:10.569
years. I talked to one today. Yeah. He came to

00:33:10.569 --> 00:33:12.490
me looking for evaluation. I actually literally

00:33:12.490 --> 00:33:14.740
had the conversation today. put the valuation

00:33:14.740 --> 00:33:17.339
together, and he's like, ugh. I'm like, well,

00:33:17.420 --> 00:33:19.859
here's how I can help. Well, and here's a big

00:33:19.859 --> 00:33:22.980
piece on that. And most of them, I can't believe

00:33:22.980 --> 00:33:24.539
that any of them are pursuing their purpose.

00:33:24.619 --> 00:33:28.019
I just can't. And so with that, though, I'm going

00:33:28.019 --> 00:33:29.700
to go back to the financial market. One thing

00:33:29.700 --> 00:33:32.140
that really draws me about Vince is you guys

00:33:32.140 --> 00:33:34.960
got to hear that his personal reason for being

00:33:34.960 --> 00:33:37.420
involved in financing the business is tied to

00:33:37.420 --> 00:33:39.700
what happened to his own mother. That is rare

00:33:39.700 --> 00:33:42.599
for your market. The most people who are in the

00:33:42.599 --> 00:33:44.559
financial industry, one, they're broke and it

00:33:44.559 --> 00:33:45.680
drives me crazy. It's like, what are you doing

00:33:45.680 --> 00:33:47.140
as a financial advisor when you can't even afford

00:33:47.140 --> 00:33:48.940
your car? And like, that just doesn't make sense.

00:33:49.259 --> 00:33:51.599
And it's a recruiting mechanism, very similar

00:33:51.599 --> 00:33:53.880
to a multi -level marketing. My friends, I'm

00:33:53.880 --> 00:33:55.900
not trying to dog you if that's the space that

00:33:55.900 --> 00:33:57.859
you're in, but I am trying to inspire you to

00:33:57.859 --> 00:33:59.619
say, go find your purpose, go find your passion,

00:33:59.759 --> 00:34:01.700
go do something that you actually like love and

00:34:01.700 --> 00:34:04.299
believe in. You have a reason to live for. Vince

00:34:04.299 --> 00:34:06.099
is doing that with what he's up to. And that,

00:34:06.119 --> 00:34:08.559
that truly inspires me. Vince, we're going to

00:34:08.559 --> 00:34:11.099
go into another subject now. Again, those of

00:34:11.099 --> 00:34:13.519
you looking to shift gears on businesses, well,

00:34:13.739 --> 00:34:16.039
you can also talk to Vince about that and myself.

00:34:16.760 --> 00:34:19.000
But we're going to look at a study that I just

00:34:19.000 --> 00:34:21.340
did. This weekend, I designed our entire blog

00:34:21.340 --> 00:34:24.860
for our company thanks to Claude. and got the

00:34:24.860 --> 00:34:26.320
whole thing launched and implemented with 19

00:34:26.320 --> 00:34:28.739
amazing blog posts. We're going to focus on one.

00:34:28.980 --> 00:34:30.820
And I want you to push back on this one, Vince,

00:34:30.840 --> 00:34:33.199
if you need to. So there's a study out there

00:34:33.199 --> 00:34:35.880
that has never been done. And it blew Claude's

00:34:35.880 --> 00:34:38.900
mind. It blows my mind. I've been dying to figure

00:34:38.900 --> 00:34:41.280
this out for years. And the study that's been

00:34:41.280 --> 00:34:43.420
done is about marketing spend and predicting

00:34:43.420 --> 00:34:45.989
business survival. So we have the SBA and you

00:34:45.989 --> 00:34:47.630
talked about marketing budgets and all that.

00:34:47.670 --> 00:34:50.190
And I hear people over and over in this space

00:34:50.190 --> 00:34:53.389
of, oh, you should have like 5 % to 10 % dedicated

00:34:53.389 --> 00:34:55.769
to marketing. And where does that root come from?

00:34:55.809 --> 00:34:57.909
What everybody tells you. And so the agentic

00:34:57.909 --> 00:35:00.630
mind, the agentic state takes over and just convince

00:35:00.630 --> 00:35:01.590
you, well, I'm not going to go where everybody

00:35:01.590 --> 00:35:05.010
else says, but we've got the SBA who gives these

00:35:05.010 --> 00:35:08.130
recommendations. We've got the BLS that tracks

00:35:08.130 --> 00:35:10.690
the failure rates, but nobody's ever tied the

00:35:10.690 --> 00:35:13.460
two together to ask. Are the businesses that

00:35:13.460 --> 00:35:16.340
are investing 7%, 8 % winning or failing? And

00:35:16.340 --> 00:35:17.619
at the end of the day, their track record is

00:35:17.619 --> 00:35:21.079
only 66%. Oh, wait, no, it's only, what is the

00:35:21.079 --> 00:35:24.920
opposite? 33 % success rate. So this is not working.

00:35:25.179 --> 00:35:27.300
And we need to know the studies about this because,

00:35:27.340 --> 00:35:29.179
and we're going to go through this article super,

00:35:29.179 --> 00:35:31.340
super fast. This breaks down how I came to the

00:35:31.340 --> 00:35:33.260
conclusions and what's there, but I want to show

00:35:33.260 --> 00:35:36.760
you VC growth -backed ventures, my friends. They

00:35:36.760 --> 00:35:39.699
suggest 20 to 50 % should be going to marketing.

00:35:40.300 --> 00:35:42.820
Kellogg's boosted their budget times two during

00:35:42.820 --> 00:35:45.059
a depression. Pizza Hut did the same thing during

00:35:45.059 --> 00:35:48.579
the recession. And Dropbox put 100 % of its budget

00:35:48.579 --> 00:35:51.539
straight back into marketing and became a $10

00:35:51.539 --> 00:35:55.019
billion plus IPO. Let's look at this number here

00:35:55.019 --> 00:35:57.239
real quick. New businesses. Guys, if you don't

00:35:57.239 --> 00:35:58.880
have revenues, you got to invest anything that

00:35:58.880 --> 00:36:00.980
you can. But if you're a new business here too.

00:36:01.749 --> 00:36:03.710
The greatest minds in the world recommend 20

00:36:03.710 --> 00:36:06.030
to 50 % towards your marketing, your advertising

00:36:06.030 --> 00:36:08.869
existing, but stalled businesses. I know it wrote

00:36:08.869 --> 00:36:10.550
20 to 40%. I got to fix this because if you're

00:36:10.550 --> 00:36:12.590
a stalled business, you actually have an uphill

00:36:12.590 --> 00:36:14.570
battle to resurrect your marketing. You might

00:36:14.570 --> 00:36:16.750
need to invest more than the newer businesses

00:36:16.750 --> 00:36:18.670
and establish and growing. You can go to 10 to

00:36:18.670 --> 00:36:20.909
two. And I was arguing with Andrew Paytel the

00:36:20.909 --> 00:36:22.329
other day at a great way. And he's like, Jackson,

00:36:22.349 --> 00:36:23.949
that's totally wrong about dominant in your market

00:36:23.949 --> 00:36:27.210
at 70%. You always keep the gas forward. You

00:36:27.210 --> 00:36:29.369
invest as much as possible. And I was like, Yes.

00:36:29.389 --> 00:36:32.210
Great point. Let's update that as well. And all

00:36:32.210 --> 00:36:34.969
of this leads to a very important question. And

00:36:34.969 --> 00:36:36.929
so as part of this, my friends, we've created

00:36:36.929 --> 00:36:39.429
a petition so that all of you can send an email

00:36:39.429 --> 00:36:43.030
to institutions, research firms, media organizations,

00:36:43.210 --> 00:36:46.050
and universities to be able to say, we need this

00:36:46.050 --> 00:36:48.329
data. We need to know if this works or not, because

00:36:48.329 --> 00:36:50.389
everybody is telling business owners to stick

00:36:50.389 --> 00:36:53.659
in this. play it safe, 7 % to 8 % range. Meanwhile,

00:36:53.860 --> 00:36:55.679
it is absolutely killing businesses. And so we

00:36:55.679 --> 00:36:57.940
put all of the email addresses involved in this

00:36:57.940 --> 00:36:59.579
as well. So you can send this to media outlets

00:36:59.579 --> 00:37:02.900
and AI companies and other universities and research

00:37:02.900 --> 00:37:05.519
institutes because the AIs, they're all going

00:37:05.519 --> 00:37:08.079
to tell you 7 % to 10 % and they've admitted

00:37:08.079 --> 00:37:10.340
to me that they're doing it because that's what

00:37:10.340 --> 00:37:13.599
the institutions say to do, not because it's

00:37:13.599 --> 00:37:15.780
tracked based on actual growth. We have to protect

00:37:15.780 --> 00:37:19.659
ourselves. Vince, your thoughts. Man, I am so

00:37:19.659 --> 00:37:23.579
happy that you brought that up. And I'm so happy

00:37:23.579 --> 00:37:26.380
that that number is that low. Like I'm so happy

00:37:26.380 --> 00:37:29.360
that that is because I'm at about probably 50%.

00:37:29.360 --> 00:37:32.380
I also think that if you're going to, I think

00:37:32.380 --> 00:37:36.960
people underestimate the cost of building a personal

00:37:36.960 --> 00:37:41.239
brand. The cost and the time. And I'll tell you.

00:37:41.340 --> 00:37:44.039
Let me pick on somebody real quick. Like on Kajabi's

00:37:44.039 --> 00:37:45.559
home website, I'm not going to call it who it

00:37:45.559 --> 00:37:48.840
is, but the person who has. 500 ,000 plus followers

00:37:48.840 --> 00:37:51.340
on their Instagram and she makes less than a

00:37:51.340 --> 00:37:53.800
janitor's salary, but she tells you that she's

00:37:53.800 --> 00:37:55.880
living like a queen. Yeah, this happens all the

00:37:55.880 --> 00:37:58.460
time, Vance. They think that they're winning

00:37:58.460 --> 00:38:00.619
big and you think that everybody who's saying

00:38:00.619 --> 00:38:02.079
that they're winning big is winning big. It's

00:38:02.079 --> 00:38:04.340
not the truth. So continue, please. Well, you

00:38:04.340 --> 00:38:07.000
could go on my website, go to the, I think it's

00:38:07.000 --> 00:38:09.000
the media there. You can see the YouTube channel,

00:38:09.059 --> 00:38:12.690
but I was talking to a business coach. who's

00:38:12.690 --> 00:38:14.849
also a personal friend of mine. And I told her

00:38:14.849 --> 00:38:18.150
how much I was spending on marketing. And she

00:38:18.150 --> 00:38:21.170
just about fell off her chair. Why are you spending

00:38:21.170 --> 00:38:23.150
so much? You need to cut that off. If you're

00:38:23.150 --> 00:38:24.909
not getting the results here, if you're not getting

00:38:24.909 --> 00:38:27.289
the results there. And she had that seven to

00:38:27.289 --> 00:38:30.449
8 % mindset where, you know, it's funny because

00:38:30.449 --> 00:38:31.730
at the time we were having the conversation,

00:38:31.849 --> 00:38:34.110
she really made me feel bad. And I was like,

00:38:34.170 --> 00:38:37.550
oh man. But then after a conversation I had yesterday,

00:38:37.730 --> 00:38:41.070
and then after you say that to me here. you know,

00:38:41.070 --> 00:38:43.650
really tells me that I'm doing the right thing.

00:38:43.769 --> 00:38:46.849
I think it's Ryan Pineda on Instagram yesterday

00:38:46.849 --> 00:38:50.630
was going through exactly how much money he spends

00:38:50.630 --> 00:38:54.130
just to build a personal brand and how you can't

00:38:54.130 --> 00:38:57.329
ever stop. Like if you stop posting content and

00:38:57.329 --> 00:38:59.929
posting stuff after a week, you are forgotten.

00:39:00.150 --> 00:39:03.090
So you have to continue posting as much as possible.

00:39:03.110 --> 00:39:06.429
I have not missed a week on my YouTube show since

00:39:06.429 --> 00:39:10.710
2019. You know, it's just a slow build. I didn't

00:39:10.710 --> 00:39:13.170
start with 14 ,000 subscribers. I started with

00:39:13.170 --> 00:39:16.750
freaking zero, you know? So it costs money to

00:39:16.750 --> 00:39:19.909
do that. You have the people who have to post

00:39:19.909 --> 00:39:21.750
it. You have the people who have to do your thumbnails.

00:39:21.949 --> 00:39:23.710
You have to edit your videos. You have to go

00:39:23.710 --> 00:39:25.849
shoot the videos. You have to take that raw footage.

00:39:25.969 --> 00:39:28.050
You have to put it and send it to the editor.

00:39:28.170 --> 00:39:31.230
And then you have Instagram, LinkedIn, and all

00:39:31.230 --> 00:39:33.809
these different things. And go ahead, use a tool

00:39:33.809 --> 00:39:36.050
to just spread it out and post on all of them.

00:39:36.090 --> 00:39:37.800
But then you're not going to get the same. results

00:39:37.800 --> 00:39:39.739
as if you posted on each individual platform

00:39:39.739 --> 00:39:42.820
so there's like a lot of work that goes in having

00:39:42.820 --> 00:39:45.300
making sure that the title is catchy making there's

00:39:45.300 --> 00:39:47.460
so much work that goes in that ai has made it

00:39:47.710 --> 00:39:49.989
a little bit easier, but we're not even close

00:39:49.989 --> 00:39:53.230
to having... Yes, can you have AI automate the

00:39:53.230 --> 00:39:54.769
whole thing? Yes, of course. Anything that you

00:39:54.769 --> 00:39:57.530
could think of with AI can be done, but you're

00:39:57.530 --> 00:39:59.449
probably not going to get the same results if

00:39:59.449 --> 00:40:02.170
you automate every single thing. Now, what I'm

00:40:02.170 --> 00:40:04.369
getting, what I'm very excited about is one of

00:40:04.369 --> 00:40:07.610
my employees figured out Cloud Cowork, and we're

00:40:07.610 --> 00:40:11.210
getting beautiful metrics on how everything's

00:40:11.210 --> 00:40:13.489
doing. So I get that updated on a weekly basis,

00:40:13.550 --> 00:40:14.949
and I could take a look at how that's going.

00:40:15.090 --> 00:40:17.219
But other than that, yeah, he's still... He's

00:40:17.219 --> 00:40:19.380
still posting everything pretty much manually

00:40:19.380 --> 00:40:22.719
because we get better results that way. When

00:40:22.719 --> 00:40:25.380
he goes into the actual platform to post, we

00:40:25.380 --> 00:40:28.719
get much better results. There's so much depth

00:40:28.719 --> 00:40:31.500
and opportunity to highlight more of this for

00:40:31.500 --> 00:40:34.219
you guys as entrepreneurs, as influencers. I

00:40:34.219 --> 00:40:37.750
spent a fortune on marketing. I do too. And it's

00:40:37.750 --> 00:40:41.010
an abundant reality once you crack the code of

00:40:41.010 --> 00:40:43.530
compound effect. But most people don't understand

00:40:43.530 --> 00:40:45.730
the reality of what that means. And so, guys,

00:40:45.809 --> 00:40:48.130
if you put $100, me and Vince were like, you

00:40:48.130 --> 00:40:49.730
know what, let's just put $100 in a savings account

00:40:49.730 --> 00:40:52.510
together for the year. By the end of the year,

00:40:52.590 --> 00:40:54.710
you're going to make less interest than the freaking

00:40:54.710 --> 00:40:57.809
inflation hit. And so it's a really bad investment.

00:40:58.050 --> 00:41:01.670
But if you can put the $300 million. into that

00:41:01.670 --> 00:41:04.710
same savings account. And now the interest that

00:41:04.710 --> 00:41:06.849
is coming in outweighs what your expenditures

00:41:06.849 --> 00:41:08.750
are in the year. That's a phenomenal investment

00:41:08.750 --> 00:41:10.849
and it's completely safe. So are there better

00:41:10.849 --> 00:41:12.809
investments? Of course there are. And if you

00:41:12.809 --> 00:41:14.369
just want to argue, that's fine. Feel free to

00:41:14.369 --> 00:41:15.570
argue, put it in a blockchain or whatever you

00:41:15.570 --> 00:41:17.869
want to. But our point with this in relation

00:41:17.869 --> 00:41:20.590
to marketing and advertising, it is an investment.

00:41:20.690 --> 00:41:22.969
It's not a line item that you want to scratch

00:41:22.969 --> 00:41:26.309
off. And as Vince pointed out, nobody has done

00:41:26.309 --> 00:41:28.289
these types of reports and it's been driving

00:41:28.289 --> 00:41:30.949
me crazy for years. I'm so happy. I was able

00:41:30.949 --> 00:41:32.869
to work with Claude to unpack all the research

00:41:32.869 --> 00:41:34.469
that I knew was out there. I just didn't know

00:41:34.469 --> 00:41:36.210
how to freaking find it on my own. I don't have

00:41:36.210 --> 00:41:40.550
all day to do it, but I did have an hour. Go

00:41:40.550 --> 00:41:42.510
ahead. Let me tell you something else about building

00:41:42.510 --> 00:41:44.929
a personal brand. I was in a different industry

00:41:44.929 --> 00:41:47.329
several years ago, and I built my personal brand

00:41:47.329 --> 00:41:51.110
in that industry. To this day, I have an impact

00:41:51.110 --> 00:41:54.329
on that industry that no one has ever had on

00:41:54.329 --> 00:41:58.599
this particular industry. When you are able to

00:41:58.599 --> 00:42:01.119
build a personal brand, the opportunities that

00:42:01.119 --> 00:42:04.440
you never thought would have come your way start

00:42:04.440 --> 00:42:08.659
coming your way of sponsorships, speaking engagements,

00:42:08.960 --> 00:42:10.940
connections with people that you never thought

00:42:10.940 --> 00:42:13.019
you would have connected with. Connecting with

00:42:13.019 --> 00:42:16.280
people who are, just because you have a social

00:42:16.280 --> 00:42:19.360
media brand, it almost puts you on par with someone

00:42:19.360 --> 00:42:22.199
who's... making multiple, multiple, multiple

00:42:22.199 --> 00:42:25.099
millions and super successful, but has no personal

00:42:25.099 --> 00:42:27.340
brand. They actually want to connect with you

00:42:27.340 --> 00:42:30.159
so that they can get some awareness to them because

00:42:30.159 --> 00:42:32.159
of what you've been able to build. It's really

00:42:32.159 --> 00:42:35.559
incredible the power that a personal brand and

00:42:35.559 --> 00:42:38.480
a social media presence brings. And be super,

00:42:38.559 --> 00:42:41.719
super careful with that power, my friends, because

00:42:41.719 --> 00:42:45.119
I'm a huge fan of this quote and I've evolved

00:42:45.119 --> 00:42:49.219
it. It's not what you know, it's who you know.

00:42:49.869 --> 00:42:51.650
It's just exactly what Vince is talking about,

00:42:51.710 --> 00:42:55.639
but then it's what you know. If you know somebody

00:42:55.639 --> 00:42:57.599
and you get put on stage and you fall on your

00:42:57.599 --> 00:42:59.119
face and you embarrass yourself, you show the

00:42:59.119 --> 00:43:00.480
world that you don't have the depth. You don't

00:43:00.480 --> 00:43:01.860
have the credibility. You don't have the authority.

00:43:01.960 --> 00:43:02.960
You don't know what you're doing. You're going

00:43:02.960 --> 00:43:04.760
to become like William Hung. And that's not a

00:43:04.760 --> 00:43:07.440
bad thing. The she bangs guy, right? You can,

00:43:07.480 --> 00:43:09.579
that story has empowered him to do new things

00:43:09.579 --> 00:43:11.260
with his life that he probably wasn't planning

00:43:11.260 --> 00:43:13.400
on doing. And he took it all very, very well.

00:43:13.500 --> 00:43:15.840
But you don't want to become, you don't want

00:43:15.840 --> 00:43:17.880
the class clown effect to be the reason that

00:43:17.880 --> 00:43:20.599
makes you famous. It makes a lot of comedians

00:43:20.599 --> 00:43:23.340
who I love and I'm grateful for. They end up

00:43:23.340 --> 00:43:25.000
committing suicide. They end up feeling depressed.

00:43:25.199 --> 00:43:26.619
They end up feeling like they didn't actually

00:43:26.619 --> 00:43:28.340
fulfill their purpose. And that's a really sad

00:43:28.340 --> 00:43:30.480
reality. So don't do that to yourself. Get the

00:43:30.480 --> 00:43:32.099
authority. Get the credibility. Go do something

00:43:32.099 --> 00:43:34.619
that's super powerful while also connecting with

00:43:34.619 --> 00:43:36.840
the who's. You can combine both together. And

00:43:36.840 --> 00:43:38.460
let's talk about a little bit further than that

00:43:38.460 --> 00:43:40.039
same path. Vince, I'm going to show you something

00:43:40.039 --> 00:43:41.079
else that's going to blow your mind a little

00:43:41.079 --> 00:43:42.840
bit. It's something that's interesting that came

00:43:42.840 --> 00:43:44.860
out between the time that you and I talked. Vince,

00:43:44.900 --> 00:43:46.360
you may have seen on my YouTube channel when

00:43:46.360 --> 00:43:48.139
you decided to become a guest that we only had

00:43:48.139 --> 00:43:50.170
like 100 subscribers on it. Even though we have

00:43:50.170 --> 00:43:52.449
600 plus videos, you may have seen that every

00:43:52.449 --> 00:43:54.949
episode has like two to three views, or you may

00:43:54.949 --> 00:43:56.489
have just overlooked it and known like, Hey,

00:43:56.510 --> 00:43:58.809
if I'm talking, rocking the mic and helping people.

00:43:59.480 --> 00:44:01.599
That's worth showing up. But that was something

00:44:01.599 --> 00:44:04.039
that's been eating at me for the last couple

00:44:04.039 --> 00:44:05.559
of months. And my team members have been like,

00:44:05.619 --> 00:44:07.420
Jackson, we've worked so hard on this. We built

00:44:07.420 --> 00:44:09.300
a quality platform, but it's just not taking

00:44:09.300 --> 00:44:12.119
off. Well, we decided to implement a strategy

00:44:12.119 --> 00:44:14.219
that we use on Facebook a while back. And we

00:44:14.219 --> 00:44:16.440
asked a couple of our latest guests, Hey, if

00:44:16.440 --> 00:44:18.500
you're willing to put in a hundred bucks, we'll

00:44:18.500 --> 00:44:20.980
run $50 towards YouTube ads for your specific

00:44:20.980 --> 00:44:24.260
episode. And then the $50, the other $50 goes

00:44:24.260 --> 00:44:27.380
to our Spanish speaking team to be able to learn

00:44:27.380 --> 00:44:29.920
to decide how they want to use that budget. It's

00:44:29.920 --> 00:44:31.860
not for their salaries. It's for them to decide

00:44:31.860 --> 00:44:33.360
how we're going to use that budget to create

00:44:33.360 --> 00:44:36.179
organic growth or to do other things to grow

00:44:36.179 --> 00:44:38.380
our channels. And it allows them to stop thinking

00:44:38.380 --> 00:44:40.960
like virtual assistants. And to dive into strategic

00:44:40.960 --> 00:44:43.059
mode and to start thinking more like an executive

00:44:43.059 --> 00:44:46.079
of managing that budget. So we just launched

00:44:46.079 --> 00:44:48.659
the first ad last week and we built a projection

00:44:48.659 --> 00:44:50.800
with Claude. I'm always super safe on projections.

00:44:50.880 --> 00:44:52.739
My friends do not trust AI with what they project.

00:44:52.900 --> 00:44:54.940
Make sure to tell it like let's be conservative.

00:44:55.179 --> 00:44:57.380
Let's look up real case studies. Let's make sure

00:44:57.380 --> 00:44:59.519
that we prepare well. And we launched this advertisement

00:44:59.519 --> 00:45:02.780
not to the American market. We launched it to

00:45:02.780 --> 00:45:05.269
all the underprivileged markets where. people

00:45:05.269 --> 00:45:08.090
don't advertise and where people need this information

00:45:08.090 --> 00:45:10.409
the most. And are there people who live in those

00:45:10.409 --> 00:45:13.230
countries like me, perhaps that are still qualified?

00:45:13.449 --> 00:45:15.730
Yes, sir. I live in Ecuador, right? Advertising

00:45:15.730 --> 00:45:17.929
to me is far cheaper than advertising to Vince

00:45:17.929 --> 00:45:21.510
who lives in, who lives in Florida. And so we

00:45:21.510 --> 00:45:23.750
ran that campaign on Thursday and on Saturday,

00:45:23.789 --> 00:45:25.309
somebody asked me about their episode events.

00:45:25.369 --> 00:45:26.449
They said, Hey, can you send me the episode?

00:45:26.489 --> 00:45:29.210
I go to my YouTube and I about, I about pissed

00:45:29.210 --> 00:45:32.590
my pants because we went from 100 subscribers

00:45:32.590 --> 00:45:36.219
to 700 subscribers. And as I went into ads, I

00:45:36.219 --> 00:45:38.639
was like, oh crap, how much is spending? $12.

00:45:40.099 --> 00:45:43.380
$12 into that. By $15, we're up to like $1 ,400

00:45:43.380 --> 00:45:45.679
now. And it is just going to continue. And all

00:45:45.679 --> 00:45:48.380
these people who are watching, they're all subscribing.

00:45:48.440 --> 00:45:50.199
We thought we were going to get 500 subscribers

00:45:50.199 --> 00:45:53.840
over a six -month period and $1 ,200 spent. We

00:45:53.840 --> 00:45:56.920
got it on $12 spent. And so that opportunity

00:45:56.920 --> 00:45:59.500
allowed us to also dive into Claude and say,

00:45:59.559 --> 00:46:01.119
you know what, Claude? Why don't we go ahead

00:46:01.119 --> 00:46:03.179
and produce a quick... blog posts on that to

00:46:03.179 --> 00:46:05.579
teach people about it. And so here you go. Blog

00:46:05.579 --> 00:46:07.179
post is available for all of you to go and see

00:46:07.179 --> 00:46:09.579
exactly how we do it. I hope you all go and model

00:46:09.579 --> 00:46:11.820
it and say, you know what, how do we bring more

00:46:11.820 --> 00:46:13.900
value to those that are out in the world? Because

00:46:13.900 --> 00:46:15.639
there's a massive difference. It doesn't matter

00:46:15.639 --> 00:46:18.500
how good our brand looks for some people. It

00:46:18.500 --> 00:46:20.320
doesn't matter how high of quality the interview

00:46:20.320 --> 00:46:22.960
is. It doesn't matter who the person is that

00:46:22.960 --> 00:46:25.840
was on the show. If people go to that YouTube

00:46:25.840 --> 00:46:29.820
video and they see four views, most people aren't.

00:46:30.110 --> 00:46:33.090
watching. But if they see 2000 views or 3000

00:46:33.090 --> 00:46:35.010
views, they're absolutely going to dive in and

00:46:35.010 --> 00:46:37.510
take their time on that. So these are super important.

00:46:37.670 --> 00:46:40.190
You can call them hacks, but my hope is it inspires

00:46:40.190 --> 00:46:43.130
you to go hire new people to help you build your

00:46:43.130 --> 00:46:44.690
infrastructure out. You don't have to do this

00:46:44.690 --> 00:46:47.010
alone. You don't have to build towards your exit

00:46:47.010 --> 00:46:48.489
by yourself. In fact, I think it's one of the

00:46:48.489 --> 00:46:51.469
worst ways to do it. And I highly recommend talking

00:46:51.469 --> 00:46:53.210
to people like Vince who are willing to give

00:46:53.210 --> 00:46:55.090
you that chicken scratch valuation, but also

00:46:55.090 --> 00:46:57.679
have the superpowers of planning out. All of

00:46:57.679 --> 00:46:59.619
the things that we would overlook due to our

00:46:59.619 --> 00:47:01.739
own blind spots. You don't know everything about

00:47:01.739 --> 00:47:04.320
entrepreneurship. Nobody does. Not even Richard

00:47:04.320 --> 00:47:06.900
Branson. He has people who helps him expand.

00:47:06.940 --> 00:47:08.980
Let's move towards an abundant mindset. Vince,

00:47:09.039 --> 00:47:10.460
you get the final words on this. You're welcome

00:47:10.460 --> 00:47:12.239
to also color comment on that if you want. You

00:47:12.239 --> 00:47:13.320
want to color comment? You want me to move to

00:47:13.320 --> 00:47:17.079
final words? About, I mean, making sure that

00:47:17.079 --> 00:47:18.500
you have a good team around you. I mean, it's

00:47:18.500 --> 00:47:21.500
very, very important. You could start on, you

00:47:21.500 --> 00:47:23.739
could start by yourself, but I always say the

00:47:23.739 --> 00:47:26.059
first hire you do want to make is some kind of

00:47:26.059 --> 00:47:29.280
administrative assistant, EA, you know, whatever,

00:47:29.320 --> 00:47:30.960
virtual assistant, whatever you want to call

00:47:30.960 --> 00:47:33.440
it. Somebody that can help you just take off

00:47:33.440 --> 00:47:35.280
some of the mundane tasks that, you know, you

00:47:35.280 --> 00:47:38.010
should not be doing. And other than that, yeah,

00:47:38.090 --> 00:47:39.510
have a good team around. You have good people

00:47:39.510 --> 00:47:41.150
and make sure that once you start doing that,

00:47:41.190 --> 00:47:43.670
that you really focus on building those people

00:47:43.670 --> 00:47:47.289
as much as you can. We have training every single

00:47:47.289 --> 00:47:50.510
Friday for one hour and the whole team chooses.

00:47:50.960 --> 00:47:53.480
what they want to train on. And that's how we

00:47:53.480 --> 00:47:55.539
do the actual training. It's how we create our

00:47:55.539 --> 00:47:58.739
SOPs. Once a month or so, I do leadership training

00:47:58.739 --> 00:48:01.820
on how I can help them better themselves and

00:48:01.820 --> 00:48:05.139
become better overall leaders to their market

00:48:05.139 --> 00:48:07.860
and to their family and to their group of friends.

00:48:08.280 --> 00:48:10.599
One of the great book I always go back to is

00:48:10.599 --> 00:48:13.280
called The One by... I can't remember his name

00:48:13.280 --> 00:48:15.900
right now, but he talks about, you know, are

00:48:15.900 --> 00:48:17.820
you the one of your family? When you walk into

00:48:17.820 --> 00:48:20.480
a restaurant and you see a family sitting down,

00:48:20.639 --> 00:48:22.699
there's always that one person either at the

00:48:22.699 --> 00:48:24.500
head of the table or at the center that everyone's

00:48:24.500 --> 00:48:27.099
sort of attracted to, you know, and they're drawn

00:48:27.099 --> 00:48:30.760
to. Are you that one that, you know, that people

00:48:30.760 --> 00:48:33.909
really count on? And you have to be self -aware.

00:48:34.150 --> 00:48:36.489
You have to, you know, you have to keep moving

00:48:36.489 --> 00:48:38.949
forward, be positive in order to be that one.

00:48:39.090 --> 00:48:40.889
And I try to train that with all my people. My

00:48:40.889 --> 00:48:43.309
main focus all the time, no matter what, is always

00:48:43.309 --> 00:48:47.809
my people. I love that. John Mars, author of

00:48:47.809 --> 00:48:50.730
The One. I did not know. I do now. Thanks to

00:48:50.730 --> 00:48:54.059
John Mars. No, it's someone else. Really? Maybe

00:48:54.059 --> 00:48:55.420
it's not called the one. Maybe it's called the

00:48:55.420 --> 00:48:59.380
one. John Mars, you get credit and you're now

00:48:59.380 --> 00:49:01.219
on our network too. He's a motivational guy.

00:49:01.380 --> 00:49:04.199
He's older now. He's kind of jacked. Ed Milet.

00:49:04.340 --> 00:49:07.179
Ed Milet. Ed Milet. There you go. Okay, cool.

00:49:07.260 --> 00:49:09.420
He's on my radar. So John Mars, welcome into

00:49:09.420 --> 00:49:11.900
the club now. I'm going to drop the link for

00:49:11.900 --> 00:49:14.820
Vince Perry's media page here as well. He mentioned

00:49:14.820 --> 00:49:16.599
earlier, he's got some secrets on there as well.

00:49:16.619 --> 00:49:18.900
Vince, we're at the top of the hour. So my last

00:49:18.900 --> 00:49:21.300
question for you, if this was your last chance.

00:49:21.849 --> 00:49:24.170
to provide wisdom, value, counseling to other

00:49:24.170 --> 00:49:26.750
visionaries out there, what would the most important

00:49:26.750 --> 00:49:29.489
wisdom be? I'm going to just piggyback to what

00:49:29.489 --> 00:49:31.170
I was saying. I think we have to focus on making

00:49:31.170 --> 00:49:33.050
sure that we're leaving an impact on as many

00:49:33.050 --> 00:49:35.889
people as possible. If I were to die today or

00:49:35.889 --> 00:49:39.150
die tomorrow, who have I left an impact and how

00:49:39.150 --> 00:49:41.590
will I be remembered? I'm not one that cares

00:49:41.590 --> 00:49:43.710
much about legacy, to be honest, even though

00:49:43.710 --> 00:49:46.929
I do talk to a lot of people about it these days

00:49:46.929 --> 00:49:49.230
because they're exiting their business. But,

00:49:49.329 --> 00:49:51.949
you know, I'm also a stoic in many ways where

00:49:51.949 --> 00:49:53.750
I know that in two, three, four generations,

00:49:54.010 --> 00:49:56.449
you know, whether I'd be remembered or not. But

00:49:56.449 --> 00:49:58.329
if you do have any chance of being remembered,

00:49:58.510 --> 00:50:00.289
you're only going to be remembered by the impact

00:50:00.289 --> 00:50:02.969
that you make on other people and what influence

00:50:02.969 --> 00:50:05.869
you had on them to impact other people as well.

00:50:06.440 --> 00:50:10.690
So you know my word of 2025 was to be impactful.

00:50:10.849 --> 00:50:12.809
And I spent the whole year doing whatever I can.

00:50:12.889 --> 00:50:15.530
And it's carried over to 26 to making sure that

00:50:15.530 --> 00:50:17.349
anytime you have a conversation with somebody,

00:50:17.429 --> 00:50:19.190
anytime you're talking to somebody, if you have

00:50:19.190 --> 00:50:22.170
some wisdom that you can share, obviously if,

00:50:22.230 --> 00:50:24.789
if requested, if not, if not requested, then

00:50:24.789 --> 00:50:27.769
maybe they don't want it. But if it allows it,

00:50:27.809 --> 00:50:29.889
you know, do whatever you can to try to make

00:50:29.889 --> 00:50:31.730
an impact on as many people as possible, because

00:50:31.730 --> 00:50:34.309
quite frankly, that's really the only thing that

00:50:34.309 --> 00:50:36.829
will be left behind. It's not things it's not

00:50:36.829 --> 00:50:38.380
even. memories because those will be gone too.

00:50:39.000 --> 00:50:41.159
It's who you've made an impact on and how you'll

00:50:41.159 --> 00:50:43.539
be remembered. So that's where I would probably

00:50:43.539 --> 00:50:47.000
leave off. My friends, we all have an impact

00:50:47.000 --> 00:50:50.400
or an impression on others, whether we want to

00:50:50.400 --> 00:50:52.960
or not. It's always happening. And whether that

00:50:52.960 --> 00:50:55.880
is a good impact or a bad impact is up to you.

00:50:55.980 --> 00:50:57.619
I'm grateful for the good impact that you've

00:50:57.619 --> 00:51:00.820
had in my life, Vince. We can all learn from

00:51:00.820 --> 00:51:02.360
what you've been able to put together. Vince

00:51:02.360 --> 00:51:06.369
Perry, P -E -R -R -I dot com. Go check it out.

00:51:06.429 --> 00:51:08.570
Connect with them. Do yourself a favor and make

00:51:08.570 --> 00:51:10.889
sure you're prepared for your exits as you're

00:51:10.889 --> 00:51:12.710
moving your brands forward, not when it's too

00:51:12.710 --> 00:51:14.250
late. We'll see you on the next episode. Thank

00:51:14.250 --> 00:51:16.250
you for being here today. I'm really happy that

00:51:16.250 --> 00:51:18.269
you tuned in to Vision Pros Live. I'm looking

00:51:18.269 --> 00:51:21.530
forward to seeing your reactions as these episodes

00:51:21.530 --> 00:51:23.329
continue to move forward. This is going to get

00:51:23.329 --> 00:51:25.969
more and more fun. We'll have more and more engagement

00:51:25.969 --> 00:51:28.050
as well. We'll invite people to participate in

00:51:28.050 --> 00:51:30.210
the show. And thank you for giving us your time

00:51:30.210 --> 00:51:32.489
and attention. Have an excellent time building

00:51:32.489 --> 00:51:34.889
out your vision and becoming a vision pro yourself.