Biz Dev - the intricate art of growing a company, understanding markets, pursuing customers and building relationships. Listen here for the latest advice, success stories, tips, tricks and long-term strategies, aired on leading talk radio shows and premium podcasts.
Legal Help for Startups
"Ladies and gentlemen. Welcome back to the amazing F Bay podcast somewhere. North of four hundred episodes is still gay. So somebody's listening at today. We have Robert Rights of the rights law office in counseling. The cloud is a practitioner of private label law. And I think it does what it says on the tin and I think it's very important Lawyers and accountants. Probably do it enough and say a very warm welcome to Welcome to the well. Thank you glad to be here. Michael thanks so much for the opportunity So it was good to get free legal advice. Why do you think but joking aside? I do think that you know. Lower something that we tend to have a roth unhelpful. Shall we say relationship to his entrepreneurs people see no? It's destructive unnecessary. I think by the extreme the to sort of issues on some of those sort of methodology to deal with it which is great. So what are your thoughts on the biggest issues that this new is have with of area of low and structure In the liaisons. No it's a good question and I think ultimately I don't think the law does itself a real service in terms of being helpful to entrepreneurs right entrepreneurs are very much move fast break things In the law typically doesn't help facilitate better accommodate that so is I work with clients. There's there's really Kinda to Threshold sorts of problems. That they have one. Is this notion of what I call Side-hustle Syndrome. They've just moved quickly just hustle grind. Get Out there do it. And then figure it all out later on. That's generally speaking not not really the the the best way to go about launching a private label business for sure right so now the client your recently. Who doing just that was moving fast and breaking things happily got her product in the Amazon and then within twenty four hours the entire listing was shut down because it infringed somebody's copyright. She was moving fast. He was breaking things and what she was actually a private label business. So you know kind of doing all. In an at an ounce of prevention is a pound of cure sort of thing like really trying to get in front of folks that are selling private label proactively in giving them a structured methodology that they can use so that he can still move quickly but they just won't be breaking as many things. So that's that's a problem. One and then I think the bigger looming problem and the seller community is people. Just don't know what they don't know right. You know. I mean they get the concept of researching market and sourcing product and getting it into Amazon. But the legalities around I mean. There's there's all sorts of wrinkles of the brand name that you've chosen for your private label. Does it function as a trademark is available as somebody else already taken it? The product photos that you had someone take you know. Do you own the rights to those or do you just have the J. Pegs of the PDF images that were given to you on the product that you chose a spanking. Spf with someone yesterday and again their first product and I didn't even need to look and go through the patent repository to see if there's a pat and you could look at it clearly see like somebody has a pat on this. This is so special so different so unique. There's a reason that you're listening. Suspended is because you chose to sell a patented products so to kind of problems just even if they do sell. It does kind of have an idea of an might need. A lawyer might need a cal. I might need a professional help me. They don't want to slow down to do it. And then secondly just kind of ignorance is bliss just not knowing what they don't know it's a really mind mission obviously is to provide legal services but also just to educate people get them thinking about the right things as they launched their private label brands so that they don't do anything stupid or at least they minimize the chances of doing stupid nice. I think it's beautifully put on sprays light to move fast and break things. I guess what you're implying is. What's even better is me fostered. Doug breaks things very quickly. Yeah but is little risk in the little damage as possible. Very sensible comedy about. It reminds you of this saying in the Marines. As far as I know break a lot of things. I don't even know much about the party back. Yes yes spite site. They say S- Lewis News smoothies boss and site in other words what they say is i. Guess if you'RE GONNA IF YOU'RE GONNA set a system of whether training subsidies some physical combat By Gasol what do I? But you know whether you setting up a business which denotes Getting into this myself so frightening around. Mike what would be the pass all these damage at least stressed and least wasted efforts through this process and then map that out. Ready possibly Knowledge into your thoughts is the difference between the rule entrepreneur technician who does stuff in business but this is not He's thinking about creating a system yet. They understand that it may may not take off from and by the way you must meet. That is what you get some people. That I err on that side you create a legal entity get an accountant. You set up your zero quickbooks. He said up a to access something. Having may disable yet possibly the opposite. Extreme right so it really is an inner. I think entrepreneurs and sellers in particular come into stripes so those people that just they don't they don't want to care about any of that sort of stuff until they absolutely have to. And then there are those those people that are just if feels like they're making progress by forming the business entity and by making the business cards in getting the address and setting. Get how now I got quickbooks? Let's launch today. I look at that feels like progress. I think either extremes really bad I think the sweet spot is right there in the middle where you're purposefully goes back to that methodology that you were talking about like you have a plan and your. Your methodically working your plan. I tell clients all the time as they come to me. They're like okay. I need to do this and I need to do this and I need to do this. I need to get this all done and I'm like no. Let's let's be purposeful about this if we do all of this today. You're going to spend all your money on legal fees which I would love. That's that's great for me but your businesses knocking like that. You've got to get products markets. So let's be smart dispersed this first that I go get some products market and then come back and we can do step two and then go and get some more brought market and then come back and we we can do step three. You know there. There's you know Rome wasn't built in a day and certainly you know protecting your private label brand doesn't need to be done in a day either.
Explain How Your Business Works Using a Bike
"Years ago I had the opportunity to run a small manufacturing business. He was my first opportunity at leading a team of people and as I entered the business on the very first day and walked around and met many of the workers. Many of the folks working in the business a quickly dawned on me that most all of them were there simply to do their job in didn't really think much about how the business worked or the strategies. We were GONNA use to make the business better and I wanted to get them engaged in the business and so. I was trying to find a clever way to do that. I came up with this great idea to use a bicycle as a metaphor for a business and so I rounded up the entire team. I put a ache at the front of the room and I asked everyone. What's this pointing to the bike? Some of them said it was a bike said it was stolen property and I shared with them that I this wasn't just a bike that this was our business and if we could understand how our businesses this bike we could tune up our business and make it go really fast and that's exactly what we did over the next seven years. We use to bike as a metaphor for a business and our business grew rapidly. It got incredibly powerful and L. ultimately seven years down the road our largest competitor made a bid to buy our business. So let me take you on a quick lap around the bike because I believe you could use the bike as a way to explain your team how your business works as well? Let's start with the handlebars we steer a bike using the handlebars? So how do you steer a business? You do it with three things one. You have to paint a picture of the future the vision you want for the business it has to be compelling and inspiring so that your team will WanNa come along with you. Secondly you've got to set your performance standards the level of performance that you're gonNA expect and demand from your team so that your customers get what they need and deserve the third piece is you have to have a mission or purpose a passion that your business is going to support that everybody can rally around and support you in that bats. How you steer a business. Now let's talk about the frame. The frame of the bike is what holds all the component parts together everything attached to the frame. So what's the frame on Your Business? I believe the frame on your businesses made up of three major components number one your organization structure or your organization chart. I have three fundamental rules to to structuring. An Org chart one is it ought to be done by function not by person. The second is that there should be only one person in each box. The third fundamental pieces that your org chart to reflect your business as you see it three years in the future in other words. Make it a forward indicator of what you want. The business to look like the second component of the structure is your your position agreements. It's a way to define the job responsibilities for each individual box. The third component of the structure is your accountability system. How are you gonNA on a systematic basis? Hold everybody accountable. Have people take ownership for their responsibilities in the business? Those three components will give you a solid frame for your so. Let's talk about where the rubber truly meets the road on a bike. The rubber meets the road in two places the front wheel and back-wheel likewise and business. The rubber literally meets the road into places in our business. The front wheel of our businesses represented by our ability to win new customers and the ability to win. New customers made up of three components. The hub of the wheel represents the definition of our ideal prospect. We need to understand that clearly. The spokes on the Front Wheel Represent Our marketing strategies. And we have to have multiple strategy. We can't we can't survive in business with just one or two marketing strategies. We have to have multiple so we have a steady flow of leads and the tire on our front wheel represents our selling process the process we use to take customer from not knowing us at all being so comfortable with us that they'll pull out their wallet give us their credit card and buy our product or service now the back wheel of our business represents our ability to serve our customers. I. It's delivering on the promise. We made on the front wheel and so the back wheel we've got to have processes in place to be able to efficiently process the products and services that we promised so we're delivering efficiently and accurately. You'll also notice that there's there are oftentimes gears on the back of a tie back tire of a bike and those are so we can change speeds oftentimes and business whether it's seasonal changes or economic changes we need to be able to efficiently change speeds in our delivery processes while still being efficient and cost effective. Now how do we keep the both wheels on our bike going at the same speed because it's very important that they go at the same speed otherwise we're headed for a crash so on a bike we use our breaks to keep our our wheels going at the same speed? We have one for the front and one for the back or breaks on our business are represented by our financial controls. These are the documents that we use to understand how well were using our funds or resources in our business so if we're not using things like a a profit and loss statement a balance sheet a cash flow forecast and the budget. Then we're not using the brakes properly in our business. We've got to have those and use those so that we're making smart decisions to run and operate or business now on my bike. There's also a monitor on the handlebars that can the tells me my. My pace might cadence my heart rate. How well burning my fuel in business? The Monitor is our key. Performance indicators are. Dashboard the tells us our predictive indicators of how we're doing in the future these may be things like how many prospects were generating. What's our conversion rate? What's our average ticket price? Those things that'll help us predict the future of our business. We need to have a solid dashboard to be able to make that
reCAPTCHA and Duolingo: Luis von Ahn
"Think about the small moments or decisions in your life that actually had a huge impact on how your life turned out. Maybe it was a conversation. You struck up with the person next to you on an airplane. Maybe it was a party. You reluctantly went to only to meet the person you'd eventually marry or maybe it was a decision to stay on vacation an extra day that sparked a new idea for Kevin System. It was a random remark from his girlfriend that made him decide to use filters on instagram for Blake. Majkowski was a chance meeting with a group of young Argentinian who took him to the countryside where he saw kids with no shoes. That one day inspired him to create. Tom's and for Louis Fun on it was a free lecture at Carnegie Mellon University in two thousand. We'll get deeper into the story in a few minutes but that single lecture would lead him to invent to ingenious new tools the I was capture. Yes captures those annoying twisted and blurred letters. You have to type into a website to prove your human and the second one was duo lingo now. The biggest language learning APP in the world which is now getting even more popular because people are looking for new things to do now that they're stuck at home but was captured and duo. Lingo were designed to harness the power of crowdsourcing to solve problems. And I'M GONNA blow your mind here if you have ever typed in a capture or reused dueling go. There's a good chance you've taken part in a massive online collaboration that you probably weren't even aware of and it's amazing. How Louis came up with all this but let's start at the beginning. Lewis was born in Guatemala in late. Nineteen Seventy S. Both as parents were doctors and though he was surrounded by poverty violence in Guatemala City. Louis screw up in comparative privilege and as a kid. He spent a lot of time hanging out at the family business. My Mother's family actually had a candy. Factory everybody is always a Mesa. The fact that I grew up with a candy factory they think it was like Willy. Wonka or something. I was not all that much into the candidate. Self I was into the machines because basically the candies made by these gigantic machines. That bump out I don't know how many thousands of pieces of candy per hour and basically all my weekends. I spent playing at the Candy Factory and I would They the machines apart and put them back together they would be some extra pieces after. I put him back together on that. That would be a problem but what? What kind of student were you were? You were school pretty easy for you. Yeah I was pretty nerdy basically. That was really good at math. Math was just easy to me. I what I would do during the summers is basically get either next year or you know. Couple YEARS LATER. Math books on all the sizes. Wow it kind of came easy but the way I really got good ideas by doing hundreds and hundreds exercises. That's what you do in. The summertime was bored. I mean I was an only child I is. I didn't have that much to do. This is remember this is also pre Internet pre everything. So what was I going to do? Man That's what I did was putting playing cards in the spokes of my bicycle and by jolly ranchers seven. Eleven should math books. So you were. Did you just love math? I mean it sounds like kids. Don't think about their future. They're not like I'm going to study math so I can be in tech one day like unless I've really enjoyed it. I I enjoyed it was it was like a puzzle for me by the way this is not the only thing I did. I mean I I also played a lot of video games Pirated Video Games in my commodore sixty four like floppy disks. Floppy Disk loppy discs. That's right I wanted a Nintendo. When I was eight my mother would not get many intendo. She instead got me computer. Commodore Sixty Four. And I couldn't figure out how to use it but eventually I read like the manual stuff and I figured out how to use it more than I figured out. I could buy other people's video games. And so I became a little hub in my in my little neighbourhood but these were not other kids adults or kind of basically young adults who had a computer and they would come to my house and I would take their games and give them my games exchange so then. I collected a pretty large number of video games but sh- mentioned right that I mean because your childhood sounds pretty nice but but like as a kid I guess or even as a teenager there was a civil war in Guatemala right. I mean we know that today. There's a a lot of violence there. Obviously violence in the US and other countries to but Guatemala's has been particularly hard hit. I mean did it feel dangerous when you're a kid yes it did. There was a civil war pretty much since I was born in seventy nine to nineteen ninety-six. There was a civil war going on the whole time. It always felt dangerous when I was fifteen or so. My aunt was kidnapped for ransom. I mean she was gone for seven or eight days. Wow People's cars would be stolen. I don't every couple of months. Somebody's car would be stolen in my family. Going past seven thirty PM was rare games. You needed to go out in a large group. If you're going to go up at seven thirty PM and I did my house had walls and barbed wire yeah. It felt dangerous. I mean this is one of just one of the reasons I came to the US. Actually I mean I was. After my aunt was kidnapped I thought to myself. I don't WanNa live here. Yeah and I guess you did end up leaving Guatemala for college because you went to Duke in North Carolina and you describe yourself as a like a math nerd in school and and is that what you intended to do like to do something in math. That's what I wanted to become an economic math professor. I was pretty certain. I wanted to become a math professor at the time. I thought the best thing that I can do is really learn a lot of math and I really it and I thought it was futile to learn how to deal with other people. It is interesting because my job. These days is one hundred percent just dealing with other people's problems. I'm just trying to understand the so so by becoming math professor. You thought. Hey I wouldn't have to deal with people I would just deal with facts. Data and numbers. Yes yes and you know I. I'll do math research all day long. And every now and then after class of but whatever that's like a tax That's that's what I thought so all right so you are She gets your degree and you this path to go into academia and you go into a PhD program at Carnegie Mellon Correct and I guess you go into computer science right yes. I changed from math computer science because I visited a math Grad school and what people were saying the professor was saying. Oh I'm working on this open problem that nobody's been able to solve for the last three hundred years and I thought I don't think I'm smart enough if you haven't done it and nobody's done it in three hundred years that's Kinda not for me whereas when you visit in computer science I mean this is crazy thing before like. Oh Yeah I still have an open program yesterday. Well it's a much younger field yet so that I thought that was much more exciting for me. At
Should My Parents Close or Sell the Family Business?
"With us in Indiana. Hero's welcome to the Dave Ramsey show. How can we help? Thanks for taking my goal day with the great honor to do to The question is about My parents family business They have a small Wine and your shop in Indiana and when the state was shut down they had shut down kind of during the peak of the cases in their county and now as things are starting to open back up. They've been doing our delivery They are debating closing the shop down altogether. They are in a really good financial position. their Employees are really eager to return to work especially now with the six hundred dollars. Bonus ending in July on their unemployment They get a lot of money in tips. They a lot of support from the community. They sell bottled during Cold Water. And the community really likes that shop and it would be really sad for them to River the employees if everyone were to get laid off in the shop where to get close. My Dad's sixty six. My Mom's sixty four They think you know they're very blessed. My Dad came to this country with like three hundred dollars on his pocket. And now he's worth over two million dollars closing it. What would they do with the inventory? they could probably sell the inventory off to other liquor stores really easily even at full price because or near retail. Because like why why? Why would they not sell the shop instead of close it? They they could sell the shock. I get. That was part of the closing so they could sell the shop. They try to sell the shop. They sold the shop two years ago and it was very strange. The personally sold it to was having Problems with Indiana taxes and wasn't doing everything above board so the Indiana government actually reverted the licensed actually original owner them and so they went back and reopen the shop. But my mom's been trying to retire for years because they're in the financial cause to do so. My Dad says because they sold it to. Google doesn't mean selling it as the wrong decision. That just means they sold it to the wrong guy. That's true if they sell it now. My Dad feels that maybe the person who buys it isn't gonNA keep employees on. They've got there. Oh the plays that they have are dollars now. I don't have a manager. They know my mom's manager. Okay all right so it sounds like the ready in the season a life there into sell this and have an exit and said I'm GONNA I'll take less for it but you have to keep the employees for years by the deal. That's a bad idea. Actually I think that finding the right buyer might be the right move for them to keep them safe and then also continued the business. That's a really great idea. These are classic small business people. They love their employees. Yeah they they hire three single moms they you know. They're only making like seven or eight dollars an hour but with tips and everything they they do really well with their families. They were hearted jerks your parents. And they didn't care about their people the only thing blocking them from selling it so people and so they make their part of the deal. Thanks guys going better. I just what you the question I have is. Are you calling on their behalf or because sounds like you said they're thinking about not reopening? It's what I thought I heard you say and I'm curious what you're what you're interested in this. Is it just because you feel for the employees or or you try and help them make the best decision? Where do you stand in all of this because like I haven't been able to sit down with them in months like I'm on the front lines? I work at division in a different city. And so you know I. I talked to them every day on the phone about how things are going at the shop. I think you know. I think they made moves to sell it before. They're really ready to retire. The they put me in my sister at their school. They seized a lot for retirement. Anything ready to go. I just think my dad. Especially with the social distancing isn't ready necessarily to. He doesn't think it's a great idea to start that season of life now I mean woods the tax bonuses and everything coming in right now For people people are like the liquor store has long-line but he he opened at six o'clock in the morning. Fifty people in line. It's crazy so each like. Why SHOULD WE SELL MOUTH BUSINESS? The highest it's been in a year. Well I mean it doesn't have to be now but I you could say you know when business slows and there's a more normal rhythm to the business after the shutdowns are starting to go away. I don't know when Indiana's opening up but you go through those different things and say you know in the fall. We're going to sell it or next spring. We're going to see the thing is. If you've got a target it takes the pressure off and if you just go we're not going to sell it. We're going to operated the well. That's forever well if you say we're going to sell it. We're not going to sell it until this happens. The challenge that she has. She doesn't own the she doesn't work in the business but she's trying to help her parents trying to make a good decision. They were torn between the season a life and the team and in my own business and it's a little weird talking to them. I know a lot about business. I'd lead entreleadership. We talked to you guys all the time trying to give your parents advice and direction on this. It sounds like you guys have a good relationship. You can't really just give them the answer. You got to prompt the conversations and give them options and say hey. Here's something to consider. Here's one I got an idea you know in this situation. What if there's a lot of people in the service industry been laid off restaurant bar managers there some sharp people that need a job right now? I gotTa believe I would be considering looking for somebody like that. Who could be manager in this bridge season? Two days talking about take advantage of this opportunity where people were lining up at eight. Am to get liquor liquor. Sales across the country are exploding. I would take advantage of this. Get those people back to work those single moms that they love dearly get some people stable until he finds the right buyer. But I think there's plenty of people who can manage that store while they stay at home but then you can also negotiate that your dad stays on for a year or two years to ensure the team is taken care of as the president or operates. The business as a part of the deal So you could have a transition
Build to Sell Amazon Business with Dave Storey
"We have an active Amazon Selah recent solo for his own Amazon business and the creative course on how to build your Amazon business to sell. Which is Dave Story? Welcome to the show. Dave thanks on the show pleasure so think one thing that's important to say is we've got a lot of content now about how to build a business to sell. I make no apology for that is very important discipline. Even if you never sell it ever we can talk about that but The difference between Dave and everybody else that we've had so far to talk about it. Is that Dave is really been learning from building his own business and going through the process plans. I believe painful. I'll talk about that of selling his own business so different perspective which I think is very valuable so thank you so much for coming on the show. That's great so the first thing is is let's start with the end. What if you achieved yourself recently in tons of selling your business businesses give us the sort of like one one sentence summary of them? We'll get into how you got there. Yeah well chieftain. So last year. And a half. What I thought was impossible. At one point. Business wasn't saleable out all turned around freely Learned a lot of things that I shouldn't have gone through in the first place and I realized not in half that if you don't plan and make Your Business As valuable in a salable as possible. You don't have this PLA on the follow then. It may not be sellable and you may be short on hundreds of thousands if not millions of the volume. That was you'll motivation for creating a course to help others avoid pain and I think as I said important point that you'll speak with the perspective. Somebody's recently gone through rather than the broker of stands at the sidelines and clays the cash. So just just to give us the result in sandy turned you business round. Have you actually sold You'll business at this point in time. Yes yes so business at the end of last year. Okay and and can you give us a rough idea? How much get get people salivating? How much money they can make a million financed Stock until a lot that was so you just have a million pounds sterling is that right at Dulles Dulles fantasy yes just clarify not for Americans listening. Be Glad about that because they can never do. This convention changes every day right so yeah so I just wanted to get that out. There said that we continue one was beginning. Somebody's made a million dollars from from southern business. So you've got the results so you told us that was a bit of a painful story that will dig into that but I will just give us a little bit of a background about yourself. What's wherever you come from with list of so I'm forty five now And I started in the world of manufacturing in the UK on. I spent twenty years building myself up from a design. Engineer Designing apertures in products. Right the way through up in the ball almonds quality management supply chain production and finished off. a The Director of operations quite big company and a hot scratch my itch of business and I just felon anew someone that was selling on Amazon go to Carson. There's going about six years ago. That's quite impressive stuff. Because obviously you'll background Really perfectly placed for a hell of a lot of stuff in the tool saying supply chain side which a lot of us myself included really hard. I mean this Us really it just varies by is definitely the hardest business model Fisher remarks. Amazon is is easy compared to that so we may have to get you back on the show. Today's is all about that but for the moment on what was still approach to your Amazon business. Thank you had to scratch his. H How did you get started? Well I a opponent with someone who'd already been working away part time With with a product of the second quarter up and running so I joined a joint him. Join Forces on the Yeah so I put a lot of methodology and rigour in processing the business which was not that Us Many of the techniques that I learned in in in my business slow life and it just really took off from. I think he'd done in the year. Previous star determined turned over about a sense sales. Three Just sort of three hundred fifty thousand dollars In the second year that went up to Into million It it just went from there on the two thousand sixteen. We had this still fifteen two thousand sixteen Tremendous here Hitting the three million mark in two thousand seventeen when we got the business valued at the time. It was with roundabout three million dollars. We we were told but we got perhaps a little bit greedy and things are going. So well let. Let's just keep going. Let's get let's get to the five million mark so that's what we decided to do. Instead of cell on Condado turned out to be a really big mistake about you We took on too much in introduced too many products at the same time did hide Mitt Gyna- carried away in the Amazons of world Shiny objects and things modern thing and why should have just focused in on? What really matters and We got a bit lost era and It was a bit of disaster to be honest and in two thousand and eighteen. We connect little bit and went back out to get the valuation and brokers said I'm not even sure it'd the at this point. We're not only where we down to we. recouping front but we we. There was so many things that were not right with the business To make it saleable so we spent the next year off Getting ourselves back on track. It could have gone completely crushed but we got that in the end. It was pretty good result. Compatible with could have been but it was a nick berry expensive lesson and I don't want this happening go. The sellers ECHINACEA happened. If you don't have this plan
Reduce, Reduce, Reduce
"Guy see dubs here. Listen what can you reduce right now? We're in this time of a pandemic where we're under lockdown. And so what? Are we doing well? Because we can't have some of the things we're used to having. We're trying to get accustomed to these new restrictions reductions and we're finding ways we're finding ways to stay social when we can't be physically close. Many of us are purging. Our homes myself included. We're just getting rid of stuff. We don't have room for that. We haven't used in five years ten years because all of a sudden not only. Do we have time? But we want to simplify because we wanNA feel control over our environments we feel control over our environments. We fuel in control of our destiny. So in your agile practice. What can you reduce reduce reduce? Are you getting a little process? Heavy are getting too crazy with too many different theories approaches and sub-systems frameworks if we got too many rules for too many roles. Are we overthinking stuff? Are we requiring too much upfront information? Before we act before we make that ever important decision you know one of the things. We're learning about crisis right now. Is that what we value in? Volatile environments is fast access to decisions when we absolutely can't make a call but we're leaning on someone else to do it what we appreciate most and what makes us more. Successful is getting the decision maker on the phone to provide that decision right now. That kind of agility saves lives changes the future so the wonderful thing about these crisis conditions. I always say that crisis is really create. So much opportunity. Don't they because they're forcing us to look at? What can we reduce? What can we live without? And what are the essentials that we must? Have that actually make us better? In Times of crisis we find those things out organically and quickly so approach your teams your clients with that mindset. This week reduce reduce reduce make it smaller and then make it smaller again. Keep chipping away at the stone until you've reached the fundamentals. Don't keep building things up to account for every possible fringe case just like that junk pile on your closet. The stuff that you won't use except once every five or ten years they're slowing you down. That's the waste. We always talk about an agile. So this is our time to reduce reduce reduce. That's how you can serve your teams. Serve Your Clients. Serve you communities right now
How To Do A Proper Follow-Up Call - David Milo
"You're listening to daily sales tips. Podcast and I'm your host Scott Ingram. Today's tip comes from David. Milo David is the head of sales at Sauna a startup based here in Austin. Here he is. Hey everyone this is David Milo with your daily sales tip so today. I'm going to be covering the proper structure to do a callback or a follow up call as an SDR account executive. It's amazing to me that a third to half of the calls that you're making on a daily basis schedule an appointment are going to be followed calls the other half or so are going to be your fresh Diaz. But what so interesting about this. Is that most sales organizations. Don't ever actually trained on how to do a proper follow-up so let me give you five very simple key steps to make you a better more effective cold caller to turn more follow calls into points so step. Number one is released simple. Just reintroduce yourself you know your name where you're calling from step to buy time from your prospect purchase time from your what. I mean by this is. Sales is a game of seconds riot just like football game of inches sales of the game of seconds. So you can use a buying time statement for example. I understand. You're busy. Were I'll get straight to the point or hey I might have caught in the middle of something so I'll be brief anything that allows you to gain some more seconds or gained some more time for you to continue to speak step three recap the conversation and reiterate the need so it might have been a week two weeks or even more since you last spoke. Hopefully you've taken some really good notes in that first phone. Call that you had a really good chance that your prospect is not remember at all who you are what you're calling about. And they don't remember why they were even interested enough in the first place to let you not call them back. So some good things you can do to recap that conversation remind them. When did you last speak? Was there a specific reason? Why prospect didn't have time. What were the hot buttons that your prospect brought up? And what were the pain? Points that your prospect brought up on that phone call hopefully again make sure take good notes. The more detailed you can go into these follow up calls the better off you're going to be. You will be seen as more professional person for taking good notes in bringing that up. Step FOUR IS PROVIDE VALUE PROPS. Whatever your value propositions are for the product or service that you are selling. Is it cost savings? Is it better? Technology is whatever you're selling it'll be more effective or efficient is going to provide a better. Roi Whatever product or service. You're selling whatever your value propositions are. Give your prospect a quick twenty to thirty second elevator pitch as a reminder because again more often than not your prospect will not have remember who you were and what it was that they were interested in the first place. So do them in yourself a favor give him a quick elevator pitch in a reminder for why they were interested in the first place and step five. The final step is the assumption close. This just means to progress the phone call forward so this be any number of things progress in the phone call forward could mean that you start to ask some discovery questions so you can start to dig in pain points which will allow progress that phone call to a scheduled appointment or talk past the appointment and go right into the clothes in getting a date and time for your meeting so again. Five steps number one. Introduce yourself number to use some buying time statements number three recap the conversation and reiterate the need step four is provide a high level quick. Hit of the value props that you have to offer and then step five. Some close
Leave These Words Out Of Your Prospecting Messages - Liz Wendling
"Are you using filler? Words crutch phrases and lazy language in your email communication. The most common an outdated mail opening lines that irritate and aggravate and come across. Oso cheesy and phony sound like this. The following examples used to be friendly pleasantries back in the day. Now they have become useless phrase grenades that add value and also keep in mind. Many spam messages start out with this inauthentic and impersonal approach. And here's what they sound like. Hope you doing great. Hope he had a great weekend. I trust this email finds you well. I hope you're having a productive day. Hope all is going. Well really do you. I if you don't know me at all and you start interacting with me that way. It comes across phony and completely insincere. I don't care if you know me even just a little bit. Those are what I call throwaway phrases that everyone else is using and they add no value. Now I know you're trying to be nice and you want to start your messages attempting to make a connection with someone. But why a why would you want to sound like you've got stuck in the nineteen nineties and use the sales language that millions of other people are using? Your first sentence needs to assist the recipient around the intention of your email. This allows people to decide if your message needs to be addressed immediately filed away as informational or can be handled later or sent right to the junk folder don't waste precious seconds being inauthentic with fluff and crutch words and get to the point because remember spam messages. Start out with this inauthentic approach. Every time I teach this concept to someone he will always push back and say well. Why can't I be nice? Why can I say something? That's not all about business and I tell them that not suggesting that they don't be kind. I'm not suggesting that they don't be a human but I teach them to write their email. Backwards put these pleasantries at the end. If
Practice On Your Peers Not Your Prospects - Jack Wilson
"Hey their sales tips community. I'm Jack Wilson with Cinch it. I'M HAPPY TO BE BACK HERE. Sharing another tip with you today so today. I WanNa talk about technique that you can use whether it's with your teams that you lied or even just with your peers in your organization to help each other improve your game every single day a lot of us have heard about having an accountability partner. Somebody that you talk with on a regular basis to hold you accountable to your goals to share your progress in your struggles and to help each other sort of improve in the long run while we do the same with our cold outreach. Whether it's a cold call on the phone or if it's an email here's what I recommend you do within your organization if you use a communication channel like a teams a slack or another type of Cross Organization Communication Channel Create a group where you can share content with each other back and forth if you don't have teams or slack consider using Lincoln and creating a group message where you're adding all of your colleagues and peers who want to participate. Once you've established a group send out a version of your own audio or better yet video of you using some of your word tracks now. I actually hate scripts and word tracks instead. I like to call it. What your approaches. So share with each other. What your typical approach openers for conversations with your customers look like now your peers. Responsibility will be to view or listen to what you shared and then to send back version of their own. The more you do this back and forth the more you get to borrow style techniques phrases knowledge and information that worked for each other and help each other improve your outreach. The more and more that you practice. It's important that you make this a two way street and keep each other engaged. This is going to help you practice on each other rather than practicing in a prospect and then in the end definitely make sure to use the same communication channel to share your successes in your victories so we can all keep pushing ahead and keep a positive attitude. Thanks for sharing this with me today. Good luck out there
Public Health Nursing and Disease Investigation with Jill Grumbine
"So today's episode twenty one. I am with my friend and former colleague in Public L. She is still in public health. Joe Grown Brian. Thank you so much for coming into the show. Thanks for having Me Kevin. So we worked together for the whole time. I was in the local for five years or so I would say And then went downtown and did hospital stuff. But so how? Where did you grow up? Start with let's learn about you Where did you grow up? And what led you through school or or an interest when you were younger to get into nursing and then and in particular to get into Public Health Nursing Yup sure To grow return. Virginia who native Richmond Nder And I I remember thinking back When I was in sixth grade we had to write an autobiography as a school assignment. And as part of that assignment and we had to talk about what we wanted to be when we grew up and at the time I either wanted to be a nurse or a teacher So wanting to be nurses been part of WHO. I am for a really long time so since I was a young teenager And I think maybe the thing that kind of solidify that is caring for dying grandparent During my kind of middle teenage years And just seeing the great nurses who cared for her in our home Just steered me on that path And my mom also Has a background in healthcare. So kind of in the blood So that's what led me to become a nurse In terms of public health I can't say was ever a grand plan that I just knew I wanted to a public health nurse Actually started out as a hospital nurse. than a few years in hospital doing women's health women's surgery and caring for high risk. Pregnant Women But then you know as with many hospital. Nurses they long hours. The twelve hour shifts that we're turning into thirteen and fourteen hour shifts and the higher acuity of patients and the higher number of patients. just was very stressful And I decided that it was time for a change but didn't know what that change was going to be And someone who goes to my church said you know. We're always looking for good public health nurses and I thought yeah right. Whatever and a few months later she said you know we have a position open. I really think you should apply for it and I thought well what if I got to lose and it sounded kind of interesting and the schedule was definitely more appealing So I applied for the job knowing that I would probably get an interview but not really thinking it would go beyond that And ultimately they did offer me the position so I started working at a local health department And really loved it Didn't really know what I was going to be doing in public health in the beginning But quickly fell into a role where I was coordinating the Refugee Health Program As my primary duties but also My other major duties were in the Communicable Disease Program for Doing Communicable Disease Follow up For various communicable diseases and also doing to particular case management for patients who had active to break yellow system. So so you what school. You got your bachelor's in nursing how much public health was covered at one Where did you go to school at Nursing School Virginia Commonwealth University go rams right on and how much public health nursing public information? Is there in a typical or your. I guess a Bachelor's of nursing curriculum so we had a whole semester of community nursing and for every clinical base nursing class. You have a clinical But my clinical for My community nursing class with parish nursing so I was paired with A nurse who was doing parish nursing at her church and we really were looking at kind of doing a health assessment for just that one. Little Church I know that I had colleagues who spent or classmates rather who spent time at the health department but I didn't have that exposure and so I really did not have a whole lot of exposure to public health prior to actually starting to work for the Health Department. I remember One of the a during which was really when I first started you already Bed there during h one n one. So I started in January twenty eight when I was in full swing and one of the areas that we Took nations to was a really big church in eastern part of the county and they had like a whole kind of nursing really office. Station Clinic. Kind of thing set up there. Is that similar to kind of the experience that you had. So it's you provide screenings You know for the parishioners so I think Parish nursing definitely evolved now My clinical experience would have been a number of years before and that h one in one experience perish nursing was I would say from my Remembrance was relatively new at the time and but yes things and and like I know our we have a parish nurse who coordinates Health screenings and flu shot clinics Coordinates doing a CPR class once a year or so to things like that so they do exist and I think it just depends on the size of the parish our the Church of how much involvement there is and how much they do and is that usually there fulltime focus like though the fulltime parish nurse. Were they yeah? I think it depends again on the church so in my church is completely volunteer The nurse Who is in charge of that? Has Another time job So does the parish nursing gig just on the side
Call Twice and get a 60% Answer Rate
"Today's tip comes from Lee rosins. Who's the head of sales at Chita? Lee posted the results of a test. He ran with his team on linked in. That really got my attention. It was a little bit controversial. So I'd encourage you to dig into the comments. But here's Lee explaining what he and his team did. Hey Scott this is Lee rosins I am the VP of sales over at Chita. Chita is basically a food distribution company all over the bay area and the West Coast. We ultimately provide wholesale groceries and food ingredients to restaurants and people like me and you actually through our tech focused APP. I'm a big Fan of what you're about and how you pretty much consolidate all these sales success stories. So I'm I'm super happy to share with you. My most recent post on linked in that went viral with a ton of discussion around it. I think for good reason so walking you through this Scott ultimately. I've been getting a ton of phone calls from numbers I don't recognize and I'm sure you do along with everybody else who follows and listens to the two of US and basically whenever I get one of these calls from random number. There's a very low likelihood that I pick it up maybe around ten percent however and this is just for me but if I do see that same random number call me back right away a second time you know there's about fifty percent chance that I pick it up so this definitely got me thinking and since my job. Responsibility is to sell as much as we can driving revenue ultimately. You know you need to get the decision maker on the phone as much as you possibly can in order to accomplish that I set out to simply put some data behind this idea that I had in my head so we ran a pilot okay and we called one hundred mobile numbers in one day. These mobile numbers were cell phones that we earned to get and they were cell phones of small business owners. Most of them are restaurant owners so fifty of them. We called once and then fifty of them. We called twice within a short timeframe. This timeframe was probably about two to five minutes. Okay so Really Bang. Bang the results. Were definitely eye opening the fifty that we called only once sixteen percent answered the fifty that we called twice sixty percent of them answered and the most important piece to note here. Was that not one of these people that we called twice was irritated with the second call if they were. I want to have shared all this with everybody on my linked in and I would have thought this would have been ineffective to be honest but obviously we spoke a ton about us being on top of our game providing value from the very start right being sharp as attack a figure of authority enthusiastic all that fun stuff so that we could avoid any irritation and it worked like a charm for us and before we knew it we are in the middle of sales pitch is talking to decision makers which was the main goal that. I wanted to prove here so the takeaway was pretty simple. Most people write myself included. Maybe you we do not want to pick up a number that we're not familiar with right. Let it go to voicemail. You must not be important if I don't have it in my phone. They can leave a message of voice. Mail. I'll get back to them if I want to get back to them but calling that same person again shows them that this call is urgent. It is important. It's much different than all the others which you're getting a lot of and therefore results in a much higher answer rate and really simply put you just got an opportunity to pitch your product service to four to five times the decision makers in a day. And if you're on your game hopefully you're closing percentage is still the same which would mean you're making about four to five times. The number of sales like my testing team did when we did
How I Built Resilience
"Hey welcome back to how. I built this resilience edition so we just heard from some industrial. Who actually started her. Culinary career at Chez Panisse in Berkeley and. Her Mentor was none other than Alice. Waters Alice daughter Fanny Singer. Join me to talk about how shape unease is doing during the crisis and how we can keep local farmers and business by buying straight from the source Finney. I know that you are sheltering place that your mom right now in Berkeley of all. How are you guys doing? How are you holding up? It's it's sort of strange very surreal. Moment I live in San Francisco and I do still have apartment there. But you know it's a one bedroom apartment and my partner and I are together. We both were working at home. And there's no outdoor space than being in Berkeley was not just to be with my mom who I obviously concerned about to. Just because I wanted to fee `sort sort of insane person about disinfecting nail and all the things in a little bit more German centric than my mother so these things were these work concerns of mine but also I mean to be Berkeley in a place that has really rich outdoor environmental NGO to walk through one hundred thirty seven pad this in the hills of the Berkeley into just feel to walk for ten. Miles is like the only thing I think kind of keeping me from total insanity. Alice tell us a little bit about. What's going on with Chez Panisse right now? Obviously you've been closed for five. Maybe six weeks. What's going on with the staff right now. We really paid the step their time off so that when it comes time to reopen that they would be there and available we had the good luck to get a kind of bridge loan from some wonderful friends of the restaurant that are helping us get to the point where money comes from the government to pay people. Some are on unemployment and some are being paid a portion of their salaries. But it's really important to me that people are paid at this time. If I have to ask my friends I have my friends Alice. One of the things I read about which is super cool. is that Obviously you work with a lot of small farmers all over California and a lot of these farmers presumably. I mean they supply restaurants so first of all from your conversations with with farmers that you work with you supply your restaurant and other restaurants. I mean what is their situation like I mean? How long can they go like this without having restaurants to supply? It's very serious. What's going on with our whole organic farm community because they really have a only the farmers markets to bring food to and the number of people that are going to farmers markets is not what it usually is so. We're trying to figure out how to buy that food from the farmers and we have a project in Stockton California The mayor of Stockton is very enthusiastic about getting or Ganic Food in the public school system and serve at this moment in time. He asked if we could help buy food from the farmers said that he can give an stockton and I thought that that would be a perfect way for us to begin building that network that we're going to need for the public schools and were putting little recipes into the box so that people know how to make very simple dishes and may given at least four thousand pounds of food away in Stockton Alice. I I mean you've talked about this for years that when you were a little girl. Your parents had a victory garden at home in New Jersey and that you really are encouraging people to plant their own. Things actually inspired me so much. I've got some ceilings. Here can you see some big lettuce there? You go and I'M GONNA hopefully. That'll be lettuce in a couple of months. I mean I don't have a big backyard. I have a small space and got a planter but for people who don't have a backyard who might live in an apartment I mean what are some ways that people can think about growing their own food that keeps looking at Brown Finley and he started by chanting food out in front of his house? In that little parkway between the sidewalk and the street and it caused a lot of controversy and he actually cited for violating. Some ordinance got any went to court. He wanted his case and he actually has planted that whole strip of land. So sort of thinking about him. I did the same thing I cup. That little plop right in front of my Bad I think you can plant like you have done and planter boxes on a balcony. I hope that the community gardens began to surge research and unite. My mom planted the little section. That's just in front of our house because even though we do have a garden in the back she wanted people to think about this victory garden moment and the potential for even the most throwaway pieces of land. It's now planted with a few different edible things and she's already gotten notes through our mailbox thanking her for taking this kind of actions embolic being encouraging people. And you've just seen this proliferation of gardens now in people's sort of little forgotten front yards and people sowing seeds all around the neighborhood now and way. It's really incredible. I've just never seen anything like it before you know. One of the things that you've talked about is the idea of buying local produce supporting local farmers wherever you are in the country around the world and you know one of the questions that that we're getting from folks on facebook Tuesday from Bell Zelezny also which what are ways that we can help. Small farmers are other ways of their places where we can go buy things from them especially farmers who are used to providing restaurants. I if you are at a loss for who you're farmers are do. The work researching call the pharmacy. Are you having trouble? Are you imperilled? Is there a way that I can help? You facilitate a network of deliveries. Can I help you deliver? But also it might be a question of just helping them figure out logistics or even knowing who they are. Where their farms are I mean? I have friends in. La The lines were so long that they weren't able to get any food so they just started figuring out who the farms were that they could drive out to so they could still got great produce. And I mean it's been a little bit more problem solving and resourceful and also knowing that the farmers are maybe really good at growing vegetables. That don't necessarily know how to work. A whole distribution network. And if that's something that you have extra time for facility with like make the effort because they do need us
What Could You Let Go Of?
"I'll tell you something that I found coached a lot of people in a lot of different environments and circumstances over the years and one of the things I'm now known to say is that there's no such thing as agile problems. Only human problems. So when I coach coaches what I've seen most commonly the question I get asked most frequently and the reason why I started in the first place is a people WANNA know. How can I get more confidence? How can I be more leader like? How can I be more influential? How can it be more certain with my decisions? How can I get people to accept my help? My Healing my coaching. And you know a lot of times the question is just how can I be less afraid to look exhale deep? Sigh of relief. Because you're not alone first of all. It's not just you. Everyone goes through the exact same thing. So you're in the right place. You know what I think this job. This job of being agile. Coaching others of a better way of working in order to WanNa do this job. You got to have a bit of healer and teacher in you so it's not surprising that you're struggling with difficult conversations. You're struggling with resistance. Those things make your job as a healer and as a teacher and as a solver halpern way more difficult but when people come to me and they say I don't feel good enough. I don't feel confident of. I feel like an impostor feel. My work doesn't matter. I feel like my opinion doesn't matter then it's time to examine. What could you let go of? Here's what I mean. The reason that we struggle with those fears the reason we feel that lack of confidence. That lack of courage is because of the stories that were hanging onto. It's a combination of the events from our history and perhaps more importantly the meaning that we attach to that history so did a public speaking presentation high school and everybody laughed at me. Okay so that happened. But what does that mean? That means. I'm a failure that means that I don't belong in front of people. My ideas are worthless. Hold on there. That's the part that you attached to that event this dig a lot of work and a whole lot of dollars spent on therapy to solve this problem or we can start the process of fixing this for yourself by just asking the question. What can I let go of? Here's some examples. Can I let go of the need to be perfect? Can I let go of the need to be right? Can I let go of the need to be accepted wanted? Can I let go of my need for certainty? Could I let go of a desire for things to be easy and pain free? Can I let go of my fear of loss or more importantly can I let go of loss? Here's a big one. Can I let go of my need for the approval of other people in order to feel valuable and whole alison? You might be sitting there right now going. What's this got to do with agile? Often the one hand it may seem really has nothing to do with agility but the truth of the matter is you're trying to change minds at the enterprise level if you're trying to change minds by moving people away from their own needs for certainty and safety you gotTa make sure. Your game is tight. You GotTa make sure that you're in touch with the stories. You need to tell in order to enhance an influence people. You GotTa make sure that you're showing up authentically as a leader which means you're not looking for leadership for leadership sake. You're not looking to be right. You're not wounded by feedback. In fact you use it to empower yourself to improve yourself. You're not creating expectation for yourself to everything you do is going to be perfect and right every time you do it. Listen if you're holding yourself to those impossible standards. He were constantly suffering from the pain of past events. If those past events in the meaning you assigned to them or causing you to act in non leader ways non bad ask ways we gotta let him go.
How to Effectively Manage Accelerating Change in Your Business with Don Mackenzie
"Thanks so much for coming on the stories behind on cost. It's great to have you on. Thank you for having me. Join your the managing director of Adidas here in Australia. You've previously listed on destroying company on the X. Which managed billions of dollars of insurance claims and expanded the business internationally across Australia New Zealand Philippines in Great Britain reaching Five at six hundred staff whilst becoming the youngest managing director of Asset Company at the time. Tell me what was like growing up for you. In where did your entrepreneurial journey begin on the entire was a blast from the Pasta was a An interesting previous lots. Look a lucky break. When I was young my father all I was at university. You Cue up is the sole something in me and backed me in a little I'm improvements business that it guttering and roofing and all sorts of things like that so I walked around in bushels sky. Chooses a thing on Montaigne. You're all the business and and supply chains and things will go wrong and customers and processing all that jazz and and just had a real passion not so much to the product you know just the business so really got stuck into that and and built that up ended up selling that often and started another Businesses still had a bit of sort of getting deeper into the management of insurance clients but I built some software to manage it because of that time everything I still remember off the one storm having decided to someone. Look I'm sorry are you. Send the required request or a little bit light on. My fax machine is currently busy and and the early two thousands everything was facts and I remember the first email I got with a job request. Though was one of my skin sense that they would email us. Because how do they even know? I check my email every day. So not the done thing had just built that up and it's and things and Some things worked out really well some things that really proud of and and some things did not work out well and it was the lessons of both sides of move really quite interesting and and you know learning that sixty s to early doesn't actually teach you much doesn't actually teach you what not to do and teach you sort of things for the future and some of the difficult times kind because Han. Saad didn't know as much as I wanNA put onward but anyway that's how little you mentioned on so some big lessons from more values than as opposed to the successes of their any big lessons to sort of. Stay out you back. Spend that gives carried through. You'll sort of Korea. I guess as you've gone along. Yeah one of the big lessons is that actually the structure no structural achieve your vision and your mission in hunt side. There's lots of good strategies and lots of good vision. People I work with now and companies that invest in north of energy and focus that goes into strategy and vision and mission all on. Just it's actually the structure that will achieve it so as an example. A bite the one you know. A structural issue is like time orientation meaning short-term time orientation is long-term time orientation if your structure is short-term orientated and needs to be as an example come across a lot of people that are entrepreneurial wants to build a business they. WanNa get a business off the ground but you know what they're gonNA put food on the table in the show family. They'RE GONNA pay off school phase dual these shorter term things and ultimately the problem then becomes is there not structured so actually achieve that vision mission because the build a business? Sometimes you've gotta go for years with with very little in common you've got to bootstrap Lou those things in the problem. Is they become more and more frustrated because then achieving that vision and the mission thoughts from agree. I A lot of the things that I was trying to do. Didn't have a hope in hell of actually seeing a lot of day but because they weren't good ideas that I didn't have the passion on the Ngoni of that we didn't have the structure lies to Do it and sort of really getting to the bottom of the ingredients structure frost now with what we do with some clients. It's just about the time our intention roller responsibilities wards systems at your information flow all of these things flow into well we would define as the structure. And if you don't have the structure what you WanNa cheap got a choice to make. Either you keep going to that vision that mission so to speak and ignore the structure or you gotTa do a little bit of a dance. Maybe and I changed my structure a little bit to get a little bit of the mission and vision that I want and they once. I've done that a little bit of the dance. That in hindsight was one of the big learning even today so on we just on that as a structural element and it's silly example that I use. I wake up one day and decided I wanted to be. I my own supermodel now. The good thing with podcast is you. Don't actually have a video so I I can assure people that I am not structured to be Amousou. Gamal have the looks the stakes any of those bits and pieces right. I don't have the structure to be a mile supermodel so I've got a couple of choices. Either I can change my structure. Maybe I can gone lose. Twenty kilos leg extensions facelift. Go to the gym. All of that and become close to what today's definition is of a mouse. Oh Oh it's what I'm going to have to update my mission and vision to actually the achieve when I can based on my structure so there needs to be a bit of a Damn Mission Instruction Michigan structured structure. Yes I will can I change. My structure is something out of my control. Dance and and people did that more. And we're able to adjust the structural reality of the reality. Today I would be able to make incremental steps towards the big vision but often they just try shoe to five without a structure to support it so that was a big one that I still carry through tonight.
Top 6 Tips from the Last 6 Months
"Podcast and I'm your host Scott Ingram. Today I've got something really special for you. Seth does a good job of encapsulating the story in his tip but Seth Gopal reached out to me a full week before the end of January and thanked me for the podcast and attributed to a massive turnaround in his results that had him at one hundred twenty percent of his quota for the full quarter after less than one month. Here's Seth Gopal with his story and some tips for you. I've only been in B. Two B. Sales as a BDR for less than one year two and a half quarters when your peers say there'll be peaks and valleys. They mean it. I mean my first quarter was average. I got ninety percent of quota. Second quarter was a wash achieved only ten percent of quota. I was at the point of almost looking for other jobs. It was that bad but I talked with my training manager and I listened to the daily sales tips podcast every day for thirty minutes at least and started making changes at safety skills by prospects consist of safety professionals. Who if you know anything about them? They're the busiest most no nonsense prospects out there. Just absolutely. Don't have time to talk on the phone or respond to an email longer than a sentence in order to better reach these busy. No NONSENSE PEOPLE. I had to change I. Change made was changed the way I handle their time on the phone if they actually answer the phone I just had to be real and set expectations that it takes twenty minutes to see our safety management system or training content. Whichever better fit their needs. The second thing I changed was making sure that I wasn't going into conversations with the attitude that our product is a perfect fit for everybody. There's no universal solution otherwise they wouldn't be competitors. There wouldn't be a diverse marketplace so not every objection needs to be confronted immediately. That's something kind of learned the hard way because it starts spinning stuff back to prospects and they would just hit hard. Stop and hang up or say no. I'm not interested. Stop calling me. Some of those objections. Just need to be heard and empathized with something. I had to learn overcome and the third change that made was with prospecting and qualifying. It's like dating if the no one to speed things up or slow them down. Some of my prospects loved the idea of what we do and think that we do have the perfect solution for them in one. Jump right into that screen. Shar demos or my low hanging fruit that super easy to talk to them. They're energetic and it's exciting to get them on the phone an indoor solution and really helped them in their business. However I'm sure most of you know that's not always the case most people that you cold call cold email. They WanNa be academic because they have to appeal to their boss nurse levels. There's a organizational hierarchy that you have to overcome in order to be on their radar and get their attention and potentially pitch for their business and part of that difficulty is them having to present the best option to their boss to their company. Because they don't WANNA look bad. Organizational clarity is essential when prospecting to especially if safety people about being there for them when they need you most not brushing them with crafty messaging to try and force them into the buying cycle in our space there ton of contracts that to compete with. So it's not always easy to get somebody to say yes to even just taking a look at what we do most of the time. They're not willing to talk until Q. Three of the third year of that contract being up so the three main takeaways from this that I've learned some of them the hard way and some of them from a training manager and your podcast view their time as the product. You have to make the most of their time number to be empathetic. Don't overcome every objection if it doesn't seem right number three prospecting. Qualifying prospect is like dating. You gotTa know one to speed things up take it slow and a no one to keep long distance and when to go out since of implemented these three things and Mike
The Logic of People
"Everybody welcome back to the people process. Progress PODCASTS I'm your host Kevin Panel this episode twenty the logic of people in. We'll see why I'm calling that here in a little bit as we talk more with my Matt Schmitt. Ceo OF PEOPLE DOT AI. And thank you again for everyone. That's listen download subscribe. Please give us a rating out. There obviously more stars as good. Help US bump up to the top and share more great stories. Like we're GONNA get today talking with that and so today we'll learn about Matt where he grew up those kind of things Matt. Thank you again for being on the PODCAST. Really appreciate the opportunity to speak with you this evening. No Problem Kevin. Thanks so much for having me cool. So he mentioned. Let's you know the people process progress right so we're learning about you. Cover in the people component obviously a lot of process which is great. I'm excited to have that conversation and share that with other people all the processes you've been through in in in the industries that you've been part of and then of course share with folks As we make progress so kind of jumping into it. Where where are you from? And where did you grow up? Yeah so grew up in eastern North Carolina North Carolina's one of those interesting states. That has this island in the middle between the beaches and the mountains and everything in between is a farm country in in SPLAT and So I grew up in the farming country and was driven to build to get into technology and build a way to escape from the lack of of technology and progress in So came up to to the island here in Raleigh and went to College at NC State. That really kick me off in my My Journey Nice did you were you into technology. Maybe a lot. Were you excited about it or into it when you were younger like did you enjoy like Atari intendo or things like that? Did you have kind of a? You know an attraction to that and I'm GONNA be dated. I'm forty six. I may be older than ordering us. No totally totally had had all those things and you know we had. We had dial up internet. Remember getting my first computer and being intrigued by the potential of that and quickly taught myself how to program and That was really the first you know way to to begin. Escaping on started helping people build websites Back when I was a teenager and so that I've always had that sort of that entrepreneur. Draw ever since I was really young and That seems I've carried well for me did you. Did you get into any particular kind of code you know doing websites begging HMO or or just kind of a little bit everything a little bit of everything early on You know heavily into html and you know even before this was before there was really CSS and early into Java script and then quickly into building programs in basic and And then moving into languages like Java as I taught myself more and more about how to program it was really the I in the early days. It was really driven by You know funny enough as I had a an early computer and we had this. We had the dial up internet and I was really one of the things I was really driven by was. Hey you know. We don't have Microsoft word. I really think I could build something like that. That was foolish of me in the early days while ambitious vision ambition. Never Was Never Short on my in my youth man edge and that with Imagine right now what we're going through with dial up all. I don't understand the true pain that that is a you know when you had to have a separate phone line just so you get kicked off right Yeah that I I think I told some of the other day guys. We head this pandemic during the eighties or even the early nineties How much worse it would be and you didn't get your free Internet. Cd in the mail may trying to figure out how to get into AOL right. You're it'd be along in. Would you know what that's also included that bug of doing that making Got TO NC state and so did you major in computer science or similar a major there. Eso majored in computer engineering and computer and electrical engineering because Foolish me I thought I wanted to actually build the parts of the computer that I wanted to program them until I learned that I hated. Physics hunts so that that really kinda pointedly you know. I still went through with the computer engineering and the electrical engineering but was really focused on programming. And the more computer science aspect of it was doing that all throughout college and That was really where I found a guy connected with my partner. These on Long before it was called We started to build a business together. So were you you met at college. Yeah so he had a business that was had relocated from New York and was in Kerry and he was looking for some people to join his team. And this was in. You know I guess. Mid Dot Com crash Here And so you know. I joined in. You know everything plummeted as know. Our customers lost their customers. And so on and we had this great website called Java lobby and We figured out how to sell ads around and that was really the start of it as we built some interesting technology and learned how to publishers in turn that into a building one of the world's largest developer portals Diese wow I mean that's pioneering stuff right and then there weren't as many tools right to be able to that kind of wrote a lot of scripts for you or helped you along. So did you all have to do a lot of you know just a lot of hours in front of the keyboard. And you know mapping and work like that. Yeah this was you know long before you could really you know there were You had to build everything in those days send so there were know the early days of even things like Google ad sense in go blab words in those types of things. But you know we were. We had to build our own community software And so it was. This was even probably before the May have even been before blogs but certainly before blogs became the place that everybody Trying to put their communities. How did you find Many like minded in in school folks at school they are or were you able to against still pretty. I guess earliest days kind of reach out to other where their user communities than that you all could kind of bounce ideas off each other as well. you know. So that's what we provided primarily and so job lobby had been started by my partner as we scanned it. But in those days you know. The the developing world is much more fragmented job lobby really provided a place for developers have an independent voice in an independent community that was separate from the vendors who were really controlling the messaging Peru tools and development. The is in those days Which is is somewhat different than than what you get. These days and open source was what it was. You know what it is now. It was a big deal if he were open source back so everything is sorta come much further much more quickly than it was in those days.
Your Tech Will Not Help You Sell
"Your Tech will not help you sell. Listen to me very clearly. Your Tech will not help you sell. I've golfed buddy likes to say that. There's never been a bad golf swing. That couldn't be cured by a new driver. Think about that and I always feel good to have some new tool in your hand. Some new way to enable you to do that thing that you so desperately WanNa do but can't seem to get right and every day there are sales people signing up to spend more money on more tools that will help them reach more people five six seven hundred dollars a month. A thousand dollars a month sometimes for reps to use all the tools at their disposal to reach the masses and way too many of those salespeople cannot sell to an engaged customer who was sitting right in front of him wouldn't be able to do it because the focus is on the wrong thing focuses on the tech stack not on your messaging not on. Your product market fit not on the basics because all the basics are boring who wants to deal with fundamentals in a time when I can have transcription tools for videos and I can have. Crm SYSTEMS NOT GONNA have marketing automation tools and all kinds of absent my disposal that will help me reach a thousand people in the time it used to take me to reach one but the problem is if you're trying to sell two thousand people when you can't sell to one you're reaching people ineffectively. So now you're more efficiently being ineffective think about that. I'm a big fan of attack. I use a lot of tech. My Tech Stack is several hundred dollars a month. But you know what I get right before I do that stuff. The fundamentals of actually selling tech can help you sell. You know how to sell I beyond that tech just helps you scale so think about that. I tried to scale something that is ineffective or are you getting the basics and the fundamentals right I
How I Built Resilience
"Hey welcome back to how I built this resilience edition so since the pandemic began retail sales have dropped massively across the country is customers are staying home but cliff. Bars actually seen a spike in demand because their bars are really popular among healthcare workers. I spoke to Gary Erickson and kick Crawford from their home in Berkeley California. The company's been distributing cliff bars to doctors and nurses while also trying to boost morale among their employees to me a little bit about cliff bar. What's been the situation for you guys? We're lucky you know. We're an essential food products. We on March twelve was the day we decided to close. Our office is just in one day. All of a sudden. We're like we're not in the awful. How do we run a business when people are are not in the office running into each other and having meetings and and coffee together out trying to throughout so we have been adopting ever since? Yeah it's it's interesting because we have like certain to businesses going on we have our office business and then we have our essential business are two bakeries one in Indiana twin falls. Where making sure that everybody's safe unhealthy. It's really different to have to do this right now. What's crazy so your headquarters. Essentially in Emoryville is closed down right now but you also. Your manufacturing plants are still operating because presumably. There's a demand for cliff bar. People are kind of want to keep things that that are shelf stable and lasts for a while I guess is. Have you seen a big increase demand for cliff bars redid and we did? There was a pretty good spike. And I We were maybe in third place behind the paper and Sanitizer But it's calmed down. You know I think the the object has mellowed out a little bit. But we're still there's demand demand is high and also you know we know that our product is a really essential food for healthcare workers. So far we've given out the first art march three point six million bars to food banks and healthcare workers frontline and then on another where on the second round. Brunell committed another three million through programmer calling Baked with love incentive gratitude Gary when you have been in crises in the past certainly with this business and when you think about it from a leadership perspective. What kind of advice could you give to somebody who is a leader? Even if it's a small business and they're kind of dealing with what's going on right now. I helped would sell duster couple. Things one is Don't be afraid to ask. Question has no answer Kind of off of Wendell Berry mad farmer manifesto of his about four decades ago. I mean we are asking questions every single data we have. We don't have any answer to but you can't be afraid to ask those questions and then if you don't have an answer today maybe tomorrow we've I can't even count. How many of questions. We've had to ask that. Don't have an answer. Maybe one could be like What are we? What is it GonNa look like when we go back to the office like when we first asked the office when is can happen? And what are we going to be walking around with right vase mouths on? And Are we gonNA be social distancing when we're back in the office and how's it going to work people you know. Eat and you know we. We don't have an answer for that right now but we're talking about and then the other part of it is just inattentive. You have to be hyper attentive to everything every day minute by minute hour by hour day by day and went and if your attention to something that comes up and we have people emailing US sane. Have you thought of this? What about this? How come this does happen? We're not doing this. Then you connoisseur out that you have to go to like how are we going to doubt and then as soon as you can't take some action and don't sit on things because we don't have time to sit on things we've been making decisions where we have to act now or tomorrow and we as sorry? We're screwed so adapt and take some action. I'm curious I mean. Obviously you are a bigger company much beer company than than a lot of the vast majority businesses in the United States. But if you think about this crisis and this is a little bit tricky because it's a sensitive word to use but as an opportunity are there ways to think about opportunities or to kind of focus on on the other side like how I mean because even with your business you're GonNa Change. They're going to be things about your products that change when when we come out the other side of this question. We don't have an answer to yes. Go ahead well. I mean I'd like to take a shot at it. I think long you know it. Does you double down in refocus on the things that matter for us? I think it's refocused us to consider what's really really important like taking care of our people but also how we work being efficient with our time being creative looking at a problem imagining scenarios. That don't exist yet like what if this happens. What how are we GONNA REACT? It's really made us much. Nimble in some ways yeah for sure. this is a question from about supply chain which. I think is is interesting. How are you dealing with your supply chain and and are you looking ahead to because it's you rely on nuts and on oats and on a variety of ingredients mostly domestic but some imported? So how are you kind of dealing with? The the possibility chain will be disrupted. That's another question that we don't have a full answer to because we don't know you know we're hoping that that were on getting close to the other side but it's still going to be of months we right now good and because we were in that essential category so we're not super worried about supply chain but were daily back to the daily attentive to it and always kind of ask our suppliers like we're good right. We're right and we do have our frontier team on our side chain. Every morning we we meet together with recalled the coveted nineteen task force. So were meeting every morning with this task. Force made up of ood manufacturing lead our legal team our HR team Our community team and our communications team. And we're we're doing that. So we can keep track of all these things and so we have teams under them that are tracking supply chain all the cliff bars that are going to the stores are. GonNa want in the future inside of balancing. That out is just a big rash or is this going to happen. You know slowly and then you know what level are being of yet but it's interesting that this is a time. This is the first time that our business models to kind of a full test like it's easy when you're not easy but so we have this five lines business model you know sustain Your Business. Our brands where people are our community and our planet and it's worked but now we're in the crisis trying to keep this model ally We're not just a successful company over here. Supporting our community and giving thousands of hours of community service not no work in the fire and we're trying to continue keeping those values in tap and living values so so far so good but Has Not Been Easy.
I Want To Sell My Books. Do I need a Website?
"So today skewed any Wednesday. I was asking. Hey I want to sell my fiction books. Do I need a website? Can some strain on Amazon? I recommend having a website having a presence online You can still saw Amazon and you can actually sell them on the book on your website before they go to Amazon and you can control that path and they can go straight to Amazon off your website via link. You can also sell your books if you want yourself if their books and you can use a platform like Podesta to do both your web presence your website as well as your e book sales now one of the things a lot of great authors. It do. Is they sell packages with their books or they sell other products that your audience would be interested in on their website of say for example you write fiction books. They're mysteries. Maybe you're really good at the whodunit type of John Mara and you WANNA sell. Maybe an animated series. I know there's a lot of authors that do this where they basically create a mini series. Be a ten parter with ten different stories and it's a video series. They just sell it as a package. And it's just an animated series. They get an animator to come and make some animations and they do a voice over the author actually does a voice over over the animations and then they sell this over and over and you can do this podium and sell access to these stories and a lot of readers love this because they are wondering. Hey what does Dr Smith look like the one from the novels I love and you can put a face to the name with the animation and then the voice overs in the intrigue in the music a lot of different products can be sold off your website because your readers love your books and that way you can expand your revenue and you can then continue to have that funding to continue to write great books. That's awesome of that business when you make more sales when you make more revenue allows you to have a little bit more freedom a little bit more creativity to make great books or to make great products or art.
Coronavirus for Amazon Sellers
"We'll bring you today. A very international panel and the subject of today is all about roundup really big picture perspective on how Amazon's affects people globally and more by luck than judgement. We got people in three different continents joining us today. Was this kind of crazy so starting from west to East which feel somehow logical. We got generally from ten key product management Dogra from rural handmade originally from India. Actually in London England not far from me and then John Calvin dish originally from the UK but of course over in Vietnam several timezones ahead. So thank you particularly John. Thank you for staying up to the really the middle of the night to join us. But thank you all very very much for coming along. Great to see you guys. Thank you so let. Let's just two quick introduction of assault one at a time so so we know you know where you're coming from and what your perspective is generally start with you L. I work at turnkey product management. We are basically a done for you. Service Amazon consulting company where we will manage top to bottom Amazon or different brands also offer come sheen an courses so different opportunities their religious trying to help rams excel on Amazon cacophonous. Let's get with the next. Hey everyone my name is gonNa Arkan. We look for Ora Rural Hanmi. Essentially if I tell you what we do. We are Alibaba for handmade. And what's really do? Is we connect to putting onto says who want to create these mindful Brian's to Communities across the Indian subcontinent which includes India Sri Lankan Bangladesh and together. They basically formed this amazing sustainable brand. We specialize in three categories which is living giving and dining and we for Amazon sellers specifically we work on a mind to market model where we essentially commission design ideas into actual physical products. Odd Handmade all sustainable. That's what we do. Co. Ryan said quite a different thing altogether and then John what he doing over in Vietnam Ashley obviously stuck in Vietnam for the next six months closed by yes nice. They're safe here. For a few cases I run a couple of businesses so I I am an Amazon seller as well we do. We have a full service. Agency called E COM DNA. And then. Recently we won't sell Candy Candy is. It's kind of to fill the gap between having a full service agency and having someone to help you out on Amazon. So what we do. Is We do the mundane boring tasks that you don't want to do. As long as the central we do it so unlimited tasks in south central for a set fee a month having Luca but already trying there's no h There's no need to explain to them how to do things just log tasks with us and we get to the outcome rather than south central they just keep telling you to submit the case again. Absolutely great kids. Well you know what's interesting is about. Is You'll interact with a lot of different businesses as well as hoping you'll you'll find pies of various different things yourself so. I think you're well placed to give a bit of flavor from what your clients are experiencing say. The first question is ready. What changes have you seen in your own Amazon business? All businesses will your clients business from I. Guess say January February this year to the car employing which is just the end of April twenty twenty at the time of recording this so anyone wanted to stop the bay question. Because there's been a lot. I think I can say a little bit. If you want please on we have a lot of clients in both US EU. All over the place I said. The biggest challenge with with solid candidate with being assistance is the notifications because we do account monitoring insane at the moment by boxes coming and going everything appearing and disappearing all day every day so it becomes a monitoring monitoring listings becomes a huge Odua task. Obviously Start Shopping Amazon stopping everyone shipping in between was middle of March and April with a big pain especially in Europe and in Europe at the moment still that closed down French film incentives and Yukon Ship Inter Intra country between certain countries. They went shipping into Italy during using European fulfillment networks that you could if you had a majority in the country. So what we've been doing is kind of helping clients now. We are in business to move things around us three pl walls and make sure that we can still have live this things every marketplace because in general sales volume on most things that we've been seeing is in down too much unless you are in a very very essential category climbs volume is significantly up volume is up but it really depends what category you're in. Las People are getting hammered. Here which is not good but Amazon is actually moving back up because we had a lot of deliverability slip away for a long time. Yeah I think. Overall my understanding of Amazon's sales volumes that March twenty twenty twenty percent up on March twenty nineteen. So yes it needs to. Yes thanks for that feedback at interesting the notifications thing which hadn't struck me with his true. I suppose managing that is you know because everything's a bucking Bronco. At the moment. Isn't it genocide of some of this stuff but for clients like a world away in some cases? So what are your? So what have you been seeing on the sort of the pros and cons of the current situation right? Yeah I mean he talked about the FDA if being restrictions was a huge hit majority of our clients do fall into the central category. So a lot of them actually really grew especially in the month of March. April would say it started to kind of Plateau still high numbers. But it's not in a crazy rise right now now as far as you know clients. That aren't able to ship items in. We did have a few of those. Actually one of our biggest clients was in the situation where they are not in a central product and they had to switch to FBI scenes in F. B. M. warehouses wedge was able to help sustain their numbers. And that now even even as we're going along we're still not for all clients able to ship items in. It's kind of a hit or miss but it does. Actually we work with Amazon Launch Pad. So we get some insights from them and everything like that and they basically said you know you're number one dollars are going to be the ones that you start to see that you can send FBI inventory in and it will kind of go down from your release. You know your least popular products so we are seeing that pretty consistently where the number one new products force given brands are starting to open up. The definitely seem very similar things to John where definitely specific categories or. Do we really really well. And others are taking a pretty big hit. Just losing the prime badge in switching. Fbi everything like that yet. It seems to be a common theme but it could target reinforce because every so often you have an assumption but that proves wrong and those are the things you think you know. That aren't true. It is good to tease out but it sounds like some predictable things but also in sing sing about the number one side is kind of by. Castle Grill by sorry by client will my status it by account. That's kind of reassuring the islands in willing to do that. There's some kind of common sense there. So cannot identify not much on the management side but obviously very very in the global source thing side of things I mean. What are you saying from the sourcing side of things Timothy? Overhaul what you've seen the two major mindsets shifts that you've seen Onto minutes we will have one is even an all re looking at. You know we can't hedge and do the entire Susan from China for example and they're looking at we diversify these risk factors go to different sectors. You know the thing supply chain is better at the same time. I think we do talk about Obama's and sellers and they're bigger concern. You know when you create a brand. How safe is the brand which as always been a big concern for them and should we be really focusing on creating and selling existing products and and what we see is in Zuma's that I'll buying out for stories looking looking for things that have a meaning behind and I think we really strongly believe us as a brand associate company week and of Supply that story Do a
How to Manage Support Coverage During Holidays
"Believe that customer support in. Your Business is one of the best things you can invest in if your customers get supported if they get the help they need when they need it at a high level of quality. They will not leave you. They'll rather stay with you then go to a competitor because of support. It's a differentiator. It's a way for you to really stand out and build real royalty. They say all you need a thousand raving customers raving fans to have a successful business. This is a way to tame those thousand customers. Get THEM THROUGH THE DOOR. Give them a great product to serve them properly. But what do you do when it's a holiday? What do you do when People are expected to be off. And I'm talking about your please now. If you're on a global company like we do with people around the world and we serve customers around the world were today could be a holiday for some people and not for others because either. It's a holiday in that country or time zones. You know it's a different day in another part of the world. How do you manage all that? And we've experimented with a lot of different things so I want to share with you. Some things that have worked so one of the first things that you really should do is always give your customers a heads up. Whatever you decide whether it's limited hours with her it's reduced ours or you know you have no support coverage during a certain number of days. We always do that Especially during a big holidays at Christmas and Easter. We customers know. Hey from this day to this day We will not have support will have limited support so keep that in mind. We also make sure we let them know win. Support will be back. The exact time and day So people understand when they should get a response or when they can reach out again and hop on chat and ask them questions and normally. That's what we did with big holidays like Christmas where we say you know from this same thing with new years but this time around with Easter we tried something different because there is a huge influx of new customers because of covert and we wanted to make sure that we can support them and help them out even during holiday. So what we did is we asked our team members over at the support department customer support and we ask them hey. Is Anybody Willing to work during Easter? During these days that we normally off and we offered double time pay so what they would normally get paid for that day they'd get paid double. We also give them the option. Instead of double pay is to take an alternate day off like a free day for themselves at another time. We're not sure how that would come off. You know. We have a team of seven people on support but we put it out there and we got three people saying yes. I'd love to work and earn extra money and I believe to the three. Actually ask for two days not just one To get overtime and this allowed us to have full coverage during the holidays now we need a very clear to our team this is totally optional. And if you don't take this option if you don't take your hand up and say hey I wanNA work During the holidays it's not gonNA be negatively. We just want to try something new and see if this is possible and people put their hand up which was great for our customers right now after. Going through that experiment you know. It's a great win for customers. They got support during holiday for some of our employees that decided to take that shift. You know they got you know extra pay which they really enjoyed but it made us think. Do we want to even make this an option in the future or do you want to actually sort of force our team to take some time off and not feel overworked and it was a real debate? You like do. We really need to work during the holidays and offer the support now realize as our team has grown over the years. The answer to that question has changed not previously were smaller team and we had a smaller number of customers to serve. We were like you know what let's take the time off and let everybody have the time off but now that our team is a little bit bigger and receiving a lot more customers even just having one or two people put their hand up again optionally. It's not like the whole team is working. So it's offering this opportunity for people if they WANNA take it now by making this decision making an optional. We're opening ourselves up to the fact that hey there are going to be some people that don't put their hand up and there'll be times have a holiday. We'll we'll have no coverage and if that's the case then we're GONNA have to communicate that to the team and of course we do this well in advance and we asked for volunteers beforehand and in that case we shift to the decision that we are not offering support. There are other things you can do to make sure your customers are supported. Of course we talk communication learning. That support won't be available during these days to let them know in advance. We let them know via email with him. No by in-app message also put in The welcome message of our Messenger Apple in Tacoma we use on our site but we also during the days that were off. We implement two things to make things easier for customers. We have an bought. It's called a resolution bond and this is built into intercom. You could pay for. It's like an upsell and you can program this bought answer questions. Common questions that Your customers might ask and basically it answers questions based on how you answered questions in the past in your system so save for example. I see that there are five common questions on all my customers ask. I go to the body I say here are the questions in these. Are the different ways. It could be asked. And then the body will suggest some answers based on how I answered this question in the past from my former conversations or past conversations and by having this available to my customers even one were not available the buck and serve them some answers that they're looking for and you can make ten questions or most common twenty questions is what we did we also offer an Faq page hey here's our Faq's you might find your answers here and we also offer our Bank of To`real so they can search our tutorial library to get answers to their questions so they're not totally without support they have like self serve support which is good and of course with. We know that when we're back in service when we're back in office we will serve them immediately on this time date so make sure you come by the site then or Santa Cemil. Now enroll spun to
"My Business Partners Are My Parents"
"Go to Tommy in California. Hey Tommy welcome to the Dave Ramsey show. How can we help? Hey guys thanks for taking my call. Sure what's up? I'm twenty own fifty percent of my wedding business. I run Business Day to day and my parents. Both of the large decision split the other fifty in twentieth century. I hit by the wildfires causes to close temporarily and then the downtime overweight for permits. I'm going through all our processes and costs and in that. I'm realizing my parents. Since they're not part of the day they don't understand what our customers warrant but they still try to impart their decisions that the final one Mike hire subcontractors and vendors without my knowledge. They've talked about how they want to be part of the business in a way where they're just asking how the businesses doing and not part of the decisions. So my question is I want to have the discussion about the process of buying my parents out over time eventually beneficial way so. I don't even have to have that conversation and I don't know how to put a dollar out to the percentage. Tommy I'd be curious to hear from Kim's thoughts on this too. But you're twenty eight years old. You're in a business that it sounds like you're partners with your parents. I I want to zoom back for a second start with D. Is this what you love and really want to be doing when you're thirty five or did you kind of drift into this thing? 'cause MOM and dad are a part of it. Oh this is absolutely will God has for me. I love waking up every day. Do what I do okay. Good well that's good. So what do you? What do you want to be true in a year from now as it relates to the way that mom and dad are evolved? Not Evolved aside. Sounds like you want to buy out and have a clean break. I have a great relationship with my family. I think the problem is It's mostly my dad. Gets a little too involved and so I don't know by your was buying a percentage or something that there is a little bit more. I am more decision on that but I I just that's kind of what I came up with. A positive will want to deal with that after you are paid a base salary for managing the business. Nothing but then how much profit is left a year About six hundred while you're profitable six hundred so they're taking about three hundred. You're taking about three hundred profit correct after you were paid a salary. Correct okay all right. So the business is worth roughly four to five x of that number. That's the value okay. And and so. They're they're half they're three hundred is worth somewhere around a million one point five million two million five somewhere in there. Okay all right now the way I would do it is. I would just propose that you give them. X. Percentage of the profits until you reach that number and it would be excessive fifty percent okay. Okay are agreed by out. Number is whatever was agree to number. And I'm GonNa give you eighty percent of the prophet until we hit that number if you can live on twenty percent plus your salary which you ought to be able to do. These are incredible numbers. Okay and so if we said eighty percent of six hundred That's like a half million dollars and if it's a million five three years later you're clear so you need to agree on a price but the price generally small business will sell for somewhere around twenty to twenty five percent rate of return to the investor which means the cap rate is about four x or five x okay of the net profit and their portion of the net profit is fifty percent understood. You right is that correct. That's correct. Yeah the the problem is you got to heads and anything with two heads is a monster. Yeah that's what you're discovering so you need. Ya and with this buyout. They lose the right to interfere operationally. I'm curious what do you think the chances are they're going to go for this? You feel good that they'll they'll go for this idea. What Dave just laid out? I think the conversation it would And when we started anyways definitely where I was really wanting to do this and they were willing to help And I and they wanted me to run everything do everything but they still want to put their fingers in either. Really got hurting. Why can't ask a good question? Dave gave you some great mechanics on the valuation of business and how you would put a proposal together for the buyout but you may want to have a few conversations just from a relationship standpoint before you come in and start talking about the buyout and the timeline for that to happen just so that everybody. I mean you don't WanNa look up and in a year from now the relationship that you have with your parents that has great has gotten really rocky because how you approach this was to transactional and it doesn't sound like you're going to do that. Sounds like you guys are on a good track of the. There's a couple of things to do that being a founder of a business. Your Dad's not actually the founder. You and him founded it together with his money he got you started or whatever And then you took it and ran it and and grew it. But they're you know always honor. Their position is inherently always honor their position in the business. And thank be falling. Grateful for what you've gotten for this point and that's how you always start a conversation like that and and and then you say and you know our original purpose was for us to get this thing running and so now the natural evolution of this dad mom the way for me to continue to honor. You is to buy you out and so I want to give you a large percentage of the profits against a buyout number and caused that to happen. But that's me tipping my hat to you and saying thank you and I appreciate you and I love you and your been incredible and it's the natural evolution of this just like when you were raising me mom and dad. You didn't want me to live in the basement till I was forty and this is I'm starting to be in your basement now. Well that's true. Yeah you're giving them a metaphor of some kind and says it's time for me to grow up and grow on and you and you have to let me go. I have to move out. I'm getting married. You know it's kind of thing and so th there but they're getting some psychological value out of interfering and you need to take that away from Jim well and just be patient. I mean when I was twenty eight. I would want all of this to happen in six weeks. It's okay if it takes six months definitely. There's a very big point. Yeah I think what Dave just mentioned on. The psychology is huge. Tommy and then what Daniels said is true too if they resist this a little bit. You need to relax because you told us all unequivocally I mean you couldn't get it out fast enough that this is what you were created to do. So guess what you're getting to do it your twenty eight. Let this thing cycle out. Your Time's coming. Yeah but don't but it could be gradual but it does need to see incremental progress with the end in mind that everyone has become starts to be an agreement with
How I Built Resilience
"Okay onto today's bonus episode. So as some of you know we've started this new series of online video conversations. Where every week? I talked to a founder or an entrepreneur or just a wise person about how they are building resilience into their businesses. Right now and in case you missed these conversations. When they happen live. We are posting an excerpt. Right here every Thursday in your podcast feed and you can see all of them on our facebook page facebook dot com slash. I built this. Just click on videos anyway. Last week I spoke with six chefs about the impact of cove in nineteen on the food industry. And today we're bringing you conversation with. Jose Andress the founder of world's central kitchen. Jose as many of you know is a Michelin starred chef known for as many restaurants around the country including minibar in Washington. Dc AND BAZAAR IN L. A. Jose is no stranger to giving back in two thousand ten after the earthquake in Haiti he founded ruled Central Kitchen which is a nonprofit that provides meals during times of crisis specifically natural disasters and in the wake of the Corona Virus. Pandemic ruled central. Kitchen has been on the ground serving hundreds of thousands of meals daily to people all over the world. I spoke with Jose at his home in Maryland. Where he's cooking with his family delivering meals and feeding the masses by borrowing some bigger kitchen's like the kitchens at the stadium where the Washington nationals play baseball in Washington DC. I've seen some videos. You outside the stadium then literally delivering food How are you doing are you? How are you staying safe? When when when you're doing that work well listen People as being from the beginning why we do what we do. I mean frankly was Chan is doing close to two hundred thousand meals a day so they will reach three million meals way. The today on this is reality. But we don't do it the long way our organization that we've proven over and over that we can go from is more organization to sometimes the main organization in a in an emergency in Bama's we were the first one on the ground Fed for the NYLAND's eighty thousand today. We were the first one Sundays before anybody else show up here. Obviously America's own is what we belong on to be able to put the know. How of wasn't Kitchen the surveys of federal Americans is the best Moment in that in the way of we wish we were out of business and we had to do it but we Feeding save thousands many of them American people In the British cruise ship we help the government than we went cutting four to help the Governor. Newsom to look the same in Oakland. We knew that this was about to happen. We call it from the beginning. This is going to become a health prices. Obviously everybody's GonNa talk about the economic crisis but above all these may become a big humanitarian crisis not only America but the run the world humanitarian crisis because Latvia foot. So how we do it. We are trying to build restaurants to join. We have more than five hundred restaurants across America. We are adding new restaurants almost everyday. Well why we do it. Because who better than defeat Americans than the same chefs do it in the good times is not like restaurants that are gonna be retiring from what we are able to contribute by. The restaurants are barbed distribution. Their leaders shops. The owners of the restaurants are in their communities. They know their communities better than anybody with partner with local organizations that know the neighborhoods very well so we may be feeding into bronze in Harlem only housing fellows that need our breasts because nobody else is there or all of the southern many angios receiving funding May NGOs. Don't have any more the same luxury of volunteers on the systems that we took for granted are shutting down with forget the NGOs are the third biggest employer in America on. When does India are not up and running this system breaks? We should be super thankful for them. Because they do an amazing opening surveys. So what we're doing is covering the blind spots. We are in more than hundred cities as we speak in multiple estates. I'm always do it. Will we partner ownerships achieves something very simple at three hundred sixty degree response What we see here is how together we can show Congress and the White House what legislation what bills. They have to pass to make sure that we're no wasted fought by farmers no being able to sell it and throwing in the fills or the production. When this time we have many cities across America? Where families are hungry. We're trying to rein smart solutions.
Truth, Perseverance and Determination with Darick Spears
"All right. Derek can get. Oh Yeah Oh yeah Nice Nice first of all let me say thank you so much for taking the time out to talk with us. I know you're busy. Business owner entrepreneur. There's about a million things that you could be doing right now but instead you're here with us what the enterprises so for that we say. Thank you I thank you for having me. I know you're busy. Which a podcast and everything you do business. I is good. We're able to get a second sit down and check so thank you. The second thing I like to do is to ask you to tell us about yourself now when I say that. Feel free to go all the way back to the day. It all started or you can start more. Current Day tells about yourself. I'm a regular guy. I'm their experience from working with Gossen. Never been a milwaukee. It's funny when I assign of Laki. People think that we live on farms or something. We live on farms of a city. K- grover the city bre lower impoverished areas. You know would have rich childhood and I do allow struggle in life so to me you find yourself as your lowest points or when the fire is testing you guys fired Pure golden pressure makes diamonds. So that's when I found myself. So that's just the kind of a introduction who I am from a free spirit and a free spirits out there. We kinda bide to a different beat life where he would like to be boxed in the light suggest. Follow the norms without asking the questions of. Why why's that? Why do we have to birth to when we finally find ourselves we have to follow this system of doing things go to school? Let the teacher teach this. But it's all things out there you can learn at as well you know what I mean is. I'm that spirit person so that's accessible pitcher. Getting one thing you said is we. Don't live in farms. I'm located in the Greater Milwaukee area and for people who are listening who are located outside of Milwaukee. There is a beach in Milwaukee. I know that might be shocking to you. But there's a beach Milwaukee which was here. I mean a year. We have a definitely walking's buried segregated very crime oriented but the world is a ghetto group. War said it better. That's what they outdoors ghetto. So it'll be the world is getting so it's true but it's a lot of stuff here. Data Guide is so if you had to pick one thing. What would you say your favorite thing to do? Is My favorite danger. Do Is Talk Guy. I talked to God. I WANNA do I walk around. You might think I'm talking to myself but sometimes I just to do that because I just always done. This is our child. No one told me how to do that. I use is literally always been fascinated with
Dont Stop Feeding Your Baby!
"You know what's going on Mr Producer Man. Just when you think your day can't get any better. Here comes the daily dose. I don't know about you but my arms in the air like I just don't care because it's time for the daily dose. This revs me up. I'm so glad I can't believe people from around. The world are listening to the deeds right now from here in the Southern Command Center just waiting with baited breath for the tip of the day Mr Producer man and I am not GonNa let you down my faithful listening public. I have a an event that happened this week. It just floors me sometimes because some things just don't make sense and maybe it's because I did so much reading on sales and marketing as a kid that I just kind of think that everybody knows this stuff but I have several clients that called me this past week and said we need to stop. We need to hold back on our marketing. We need to reduce how much we're spending because things are going on with the economy and we just don't know what's going to happen and when I was a kid I remember reading this one line. I was into horses as a kid. Not that I would ride them much but I like petting their noses. And I'm always amazed. How big have you ever seen that that movie on? Secretary I mean I remember a back secretary. It was just like a monster of a horse and it won by the Belmont. They like seventeen lancs. It was just far and away secretary had had no competition you know. People are worried about their past. Secretary was so good that she had no competition. What about you what about you? I mean playing around with competition is a fool's errand you need to be so much better unit. Be doing those extra steps. That other people aren't willing to do Jeffrey. Dahmer says it like this. He says most sales people aren't willing to do the hard work it takes to make selling easy. It does take hard work but the hard work becomes easier. The more you do it so getting back to the marketing thing. I went off on tangent there. Thanks for bringing me back. Of course he didn't bring me back. He just lets me. Just hang out there in the wilderness. While you're at at once you just give me a paper cut and pour some lemon juice in it while you're at it there too some of these adjust for me guys but here it is. This is what I told My customer says he wants to slow down on his marketing. I said a man who stops his marketing to save money is like the man who stops feeding his horse because she's not running a race that day. Let that sink in. What's going to happen when the economy gets better? Is that when you WANNA start plowing more money into marketing? Why don't you just target your marketing better? Why don't you just focus on what you want better? Why don't you work on your clients right now and prevent them from cancelling on you right now? Why don't you hop on the phone right now? By the way if you want to hop on the phone I got a cold call in program for you go to the sales energizer DOT COM. It'll explain the whole thing but you need to focus on number one to get new clients. Your Business is just like every other business. There's one engine that runs this thing without this. Nothing else works. When my dad got I started in business. It was with my My grandfather they did something together and my grandfather was really big on having a beautiful office and he had a desk and he had you know the the latest technology of the phone had all the buttons on there and had an intercom and you had nice rented space in the head furniture and they had couches. They had everything going on there. They had everything the most important thing a customer now conversely you can have a customer and not have anything else. And you're in business but you gotTa know what you need to focus on on the way to get that business is through investing in. Target Marketing. And know what you want to do. So withdrawing at this time is crazy and you're not doing your job as a salesperson by letting your customers off the hook you can't let them do exactly the thing that's going to harm them. I do no harm. Don't let them stop feeding their baby and expected to grow. Boy GonNA write that one down. That was a good one. Stop Feeding your baby and expected to grow. So that's you got one thing to focus on today ladies and gentlemen one thing and one thing only and that's retaining your customers by showing them exactly the reason why they're using you over and over so they can save their very existence you as a salesperson are the most important part of the Salle. It's easy to say okay I understand. That's what everybody does. That's not what secretary does secretary presses on and you need to press on working harder than you ever did before so you can live better than you ever thought you could. Gosh that was another good one. Where's that coming from Mr Producer man? It's analysts listen. I really appreciate your listening today. And I hope these daily.