Latest / Steve Azar's Resonance: A Podcast for Leaders, Unpacking the Power of Song, Silence and Strategy / Resonance Season 3-Episode 1: What It Takes To Be An Entrepreneur

Transcript

Resonance Season 3-Episode 1: What It Takes To Be An Entrepreneur · Steve Azar's Resonance: A Podcast for Leaders, Unpacking the Power of Song, Silence and Strategy

• 0:00
  SPEAKER_02: This is Resident, the podcast with leaders that unpacked the power of songs, style, and strategy.
• 0:13
  SPEAKER_01: We believe the great leadership begins with deep listening, not just to others, but to the still small voice within.
• 0:21
  SPEAKER_00: It's not just about being a successful leader, it's about being socially aligned as well.
• 0:27
  SPEAKER_01: In a world moving fast, resonance invites you to pause and reconnect with purpose, people, and possibilities.
• 0:33
  SPEAKER_02: We'll dive into some cool stories, celebrate with friends, and dig deep into the music too.
• 0:39
  SPEAKER_02: A song has a way of staying with words and not alone.
• 0:44
  SPEAKER_01: So whether you're leading a business, a team, or just trying to lead your own life with more meaning, this is Resonance.
• 0:50
  SPEAKER_01: Resonance, Resonance.
• 0:56
  SPEAKER_00: We are so fired up to be back.
• 0:59
  SPEAKER_00: It is season three, ladies and gentlemen.
• 1:02
  SPEAKER_00: And we are talking about, yes, as Mike Farrell giving us the fifth pump.
• 1:06
  SPEAKER_00: We've got Steve Azar looking good, feeling right, and Randy Harrington, who's just going to be loitering in the corner.
• 1:13
  SPEAKER_00: Uh, but that's all right.
• 1:14
  SPEAKER_00: Today we're going to be talking about a very powerful subject because all three of us are, I think, card-carrying entrepreneurs.
• 1:21
  SPEAKER_00: And you know you're card carrying because it means that you have hung your butt all the way out and you have said, I am going to figure out a way to make a living.
• 1:30
  SPEAKER_00: And somehow we've done it, right?
• 1:32
  SPEAKER_00: I mean, that's at the end of the day what it boils down to is that that commitment that says, I'm going to go do this and I'm going to do this at some level on my own.
• 1:41
  SPEAKER_00: And that impulse is where we're really going to begin this conversation because not everybody has that impulse.
• 1:48
  SPEAKER_00: I had it pretty early on.
• 1:50
  SPEAKER_00: I bet you guys did too.
• 1:52
  SPEAKER_00: But I've got two kids, and I've got one kid that's very, very much entrepreneurial-oriented, and I've got another one.
• 1:59
  SPEAKER_00: It was like, no, no, I want, you know, the paycheck and the job and the thing, and I want it all to be the way it is.
• 2:05
  SPEAKER_00: But being an entrepreneur is a powerful, powerful thing.
• 2:09
  SPEAKER_00: And I'm going to make two quick points and then we're going to jump into it.
• 2:11
  SPEAKER_00: The first point is I think that because of the nature of the economy and the nature of the world these days, even people with jobs are doing side hustles and other things that end up feeling entrepreneurial at the end of the day.
• 2:26
  SPEAKER_00: So if you're hearing this subject and you go, well, I'm not an entrepreneur, I don't do that kind of stuff, I bet you do.
• 2:31
  SPEAKER_00: And I bet you all the things we're going to talk about are going to apply to you trying to build your best financial life.
• 2:37
  SPEAKER_00: And then the second thing I'm going to say is that this next generation of kids, Gen Z Gen A, they don't think about wanting to go work for a company.
• 2:46
  SPEAKER_00: They don't think about work in nearly the same way that we all did.
• 2:51
  SPEAKER_00: I mean, I remember my father telling me over the over the newspaper one morning that he thought it was a good idea for me to go and work for the Florida Department of Transportation as they'd build roads they were hiring.
• 3:03
  SPEAKER_00: And I said, You want me to go work to why would I do that?
• 3:07
  SPEAKER_00: Why would I do it?
• 3:08
  SPEAKER_00: He goes, It'd be good experience.
• 3:09
  SPEAKER_00: Be good for you to stand out there in the hot sun, feel like what it's working like all day.
• 3:13
  SPEAKER_00: That's what it was the stupidest idea I'd ever heard in my life.
• 3:16
  SPEAKER_00: There would have been fatalities on the Florida highways if I had been the sign guy out there on that road.
• 3:23
  SPEAKER_00: So entrepreneurs are not for everybody.
• 3:26
  SPEAKER_00: You should know it, listen to your heart.
• 3:28
  SPEAKER_00: But if you decide, that's when this conversation starts.
• 3:32
  SPEAKER_00: So that so, Mike, Steve, what was the trigger where you said, I can do this myself.
• 3:37
  SPEAKER_00: I'm gonna go ahead and and find my own way.
• 3:40
  SPEAKER_01: Mike, you want to kick it off?
• 3:42
  SPEAKER_01: Yeah, I I mean for me, you know, I I saw my dad do it, and he did it for many years.
• 3:48
  SPEAKER_01: And so for me, it was it was really kind of built right into me.
• 3:53
  SPEAKER_01: I mean, I I started doing it, you know, even when I was in college, I was I was doing little things, but you know, once I got out of the seminary and got out got out of education, it was like there was no other option.
• 4:06
  SPEAKER_01: I was gonna be an entrepreneur.
• 4:08
  SPEAKER_01: And uh, you know, I started that started this company back in you know, 1987, and I've been going ever since, you know.
• 4:17
  SPEAKER_01: It's had a whole lot of a whole lot of reinventions, and we'll talk about that in the next podcast.
• 4:21
  SPEAKER_01: But, you know, that's that's been me ever since pretty much day one.
• 4:26
  SPEAKER_01: And so I think for me it was it was it was the freedom, obviously.
• 4:30
  SPEAKER_01: You know, I didn't I wasn't working for somebody else.
• 4:33
  SPEAKER_01: It was the ability to create something that hadn't been created yet, in whatever version it was that I, you know, that I did.
• 4:41
  SPEAKER_01: Um and and so I think for me it was really just you know, kind of watching what my dad had done and and trying to do, he had been very successful, and trying to do some of the same things that that he had done to be successful, and then taking it from there and saying, okay, what's the what's the next version of that?
• 4:58
  SPEAKER_01: How do I how do I create that?
• 5:01
  SPEAKER_00: So that's cool.
• 5:02
  SPEAKER_00: So you you were able to see it, it was not a big jump for you.
• 5:05
  SPEAKER_00: It made sense to you intuitively.
• 5:08
  SPEAKER_00: So, you know, if me I was a military brat, and so Exactly.
• 5:12
  SPEAKER_00: That was a whole different Right.
• 5:20
  SPEAKER_02: My whole life.
• 5:21
  SPEAKER_02: My parents worked for themselves and Wow, okay.
• 5:24
  SPEAKER_00: I yeah, okay.
• 5:25
  SPEAKER_00: I guess that's I didn't think about it.
• 5:27
  SPEAKER_02: You you've taken on what you've taken on in your career and you've started these incredible companies and you've been s obviously so successful because you know, you're you, you're Randy Parents.
• 5:39
  SPEAKER_02: But with that said, uh seriously though, Mike and I obviously had a a visual of that and it was sort of the norm for us growing up.
• 5:47
  SPEAKER_02: For me, it's funny because I would I was thinking, okay, I'm gonna cut grass, I had my little cutting grass service, right?
• 5:53
  SPEAKER_02: And I I did that and I I was always into just I wanted to work, you know, and uh and then I would uh then I went to the park commission and I asked the head of the park commission, could I teach tennis?
• 6:06
  SPEAKER_02: And so for three years I was the park commission's guy.
• 6:11
  SPEAKER_02: I did it one year with an old friend that it was a great tennis player, and he just retired from being a tennis pro in Jacksonville, Florida.
• 6:19
  SPEAKER_02: And uh I learned so much from him by being his sidekick, and then we left.
• 6:22
  SPEAKER_02: I had two more years by myself, and I was teaching 60, 70 kids a day in the morning time in groups.
• 6:30
  SPEAKER_04: Yeah.
• 6:30
  SPEAKER_02: And um I was always sort of learning from the pro that taught me.
• 6:33
  SPEAKER_02: I take all those things and try to use them, especially when you were teaching beginners, uh, go back to the basics and and just dumb everything down, you know, for people in the very beginning, just to really get them to hit the ball and feel the strings and feel that that feeling when you hit it, you know, so they would get hooked and or stay in the game, so to speak.
• 6:54
  SPEAKER_02: But I was always doing that.
• 6:56
  SPEAKER_02: Then I was teaching guitar lessons when I was in college, when my and of course I had my band in uh throughout all throughout school and then college and uh legitimately in co in late night, well, legitimately in college, where the time we grew well, the time we graduated, me and my brother had 221 nighters on the books the following year.
• 7:17
  SPEAKER_04: Wow.
• 7:17
  SPEAKER_02: So we were on the road, we had two big trucks, and we had we the band traveled in a big old Bronco of his, and we had these two trucks, the light show was in one truck, and it was like 28 feet.
• 7:28
  SPEAKER_02: There's one was 16 foot, one was 28.
• 7:30
  SPEAKER_02: We started in a van, and then I'll never forget, Joe comes and he surprises me with this light show that he's got set up that's you know huge.
• 7:40
  SPEAKER_02: I mean, and and he got it handmade, and it was it was so heavy we had to put wheels on it.
• 7:45
  SPEAKER_02: It wasn't like he got the stuff that everybody picks up and throws around, you know.
• 7:48
  SPEAKER_02: He and so I said, and so we had to have these crazy lifts that lifted it all up.
• 7:52
  SPEAKER_02: And when he built it, it was incredible with all these wonderful lights and all this stuff.
• 7:56
  SPEAKER_02: And I said, Where is that going?
• 7:58
  SPEAKER_02: And he goes, Oh, it'll fit in the in the truck.
• 8:00
  SPEAKER_02: I said, Really?
• 8:01
  SPEAKER_02: And so the truck is already full, so we had to get a uh four uh 28-foot truck just for the light chuck.
• 8:06
  SPEAKER_02: And so we ended up with two 28-foot trucks and and uh the road crew would drive it, but we we were, you know, paying insurance and doing all those things.
• 8:16
  SPEAKER_02: We had a loan and we were working.
• 8:18
  SPEAKER_02: You know, the interesting thing though, one of the n none of the banks except for one who guarantee bank, they're still my dear friends.
• 8:26
  SPEAKER_02: Uh, my buddy Ken Purvis, Mike, you met, and uh he's the president, my buddy Mickey Nayman, and all the guys, and and we have friends, the Townsends who who created the bank, and they're all over the place now.
• 8:37
  SPEAKER_02: It they're they're great folks, and they were the only ones that wouldn't let me build a house because they were going like nobody else said it was real.
• 8:44
  SPEAKER_02: They thought it was a hobby.
• 8:45
  SPEAKER_02: And they weren't accepting the fact that we were making all this money, and they they still wouldn't accept it.
• 8:51
  SPEAKER_02: And even our accountants, we had to battle them.
• 8:54
  SPEAKER_02: And it wasn't until I went to Nashville when the Music City accountants were going like, Are they crazy?
• 8:59
  SPEAKER_02: This is a business, this is real.
• 9:01
  SPEAKER_02: You know, getting around people that actually did it.
• 9:03
  SPEAKER_02: But it was interesting that Guarantee Bank was the only bank, and they became such good friends.
• 9:08
  SPEAKER_02: And uh, they're my sponsor for my one of my sponsors for my Inner Mississippi Minute podcast, still to this day.
• 9:14
  SPEAKER_02: And we do so much stuff together, and pivotal in my career when when I started getting the songwriting bills and all that, there were steps along the way, but they were good to me.
• 9:24
  SPEAKER_02: Having a bank that gets behind you uh is a big help.
• 9:27
  SPEAKER_02: It gives you confidence and you don't want to let them down, you know?
• 9:30
  SPEAKER_02: Uh so and you can't let them down.
• 9:33
  SPEAKER_02: Well, you know, for uh for for the reasons within, you don't want to screw up.
• 9:37
  SPEAKER_02: It's it's really interesting though.
• 9:39
  SPEAKER_02: It's not that you I look back and I always wanted more, but I wanted to evolve, you know?
• 9:44
  SPEAKER_02: And uh and then I was forced to evolve uh most of the time.
• 9:48
  SPEAKER_02: When I didn't even when I didn't want to involve, I wasn't focused on that.
• 9:52
  SPEAKER_02: But you know, I used to get a little bit uh ticked off when somebody would call me an entrepreneur in the music business or a hustler.
• 10:00
  SPEAKER_02: I didn't necessarily like that.
• 10:02
  SPEAKER_02: I felt like they were degrading my artistic.
• 10:05
  SPEAKER_04: Yeah.
• 10:06
  SPEAKER_02: I didn't understand what was wrong with being the way I was and being more involved in a lot of stuff because I came from that and uh and I had to know what was going on.
• 10:16
  SPEAKER_02: So it was really interesting.
• 10:18
  SPEAKER_02: And so uh when I hear that word, he's a hustler, or he's a this, or and then I heard Gene Simmons talk about how they called him a hustler and he built this brand and just sold his, they just sold their brand for what, a billion dollars just for the makeup?
• 10:32
  SPEAKER_04: Yeah.
• 10:32
  SPEAKER_02: Really?
• 10:33
  SPEAKER_02: Yeah, they they sold the likeness of Kiss for a billion dollars, right?
• 10:38
  SPEAKER_02: And so so he was going like at some point he decided that being a hustler is not a bad thing.
• 10:44
  SPEAKER_01: Well, and you know, it's it's inter it's interesting too, because I think if you if you look back to that time frame back in the 70s and the 80s, you rarely heard the term entrepreneur.
• 10:56
  SPEAKER_01: You're right.
• 10:57
  SPEAKER_01: You you heard it a hustler, or you know, I'd even get a con man, or you know, it was it was entrepreneur was something, you know, that was you know something that was mid-80s, mid-80s, early 90s, worse than the used car salesman, you know.
• 11:14
  SPEAKER_01: Yeah, no, exact exactly, exactly.
• 11:16
  SPEAKER_01: And and so it really was a very, a very different time that, you know, well, if you were out doing something on your own, you were probably doing something that you know you shouldn't be doing.
• 11:26
  SPEAKER_02: Yeah, exactly.
• 11:27
  SPEAKER_02: But you know what though?
• 11:28
  SPEAKER_02: The bottom line for me was this.
• 11:30
  SPEAKER_02: You can call me whatever you want, but everything I was doing was what do you call it, Mike?
• 11:36
  SPEAKER_02: Your purpose.
• 11:37
  SPEAKER_02: And everything I was doing was was ever whatever it took for the bottom line of writing songs and getting to perform them for people and making records and being known enough to do it for the rest of my life, that was the reason I was fighting for it.
• 11:53
  SPEAKER_02: And I was and I'd do anything for it, and I still would.
• 11:56
  SPEAKER_02: So, so looking back, you can you can say whatever it is, but if I didn't work as hard as I did, uh and I still don't if if I don't do it now, uh, and then I don't care about my purpose and what I love.
• 12:08
  SPEAKER_02: Right.
• 12:08
  SPEAKER_02: You know, so the level of my it's the love of my my business, my life as far as is what I do is concerned, right?
• 12:15
  SPEAKER_00: Yeah, you were very naturally going through some of the steps that are going to predict success for an entrepreneur.
• 12:22
  SPEAKER_00: And so the first thing that you did was you had evidence of success just because you were playing locally and you and people came and they saw and they liked it and they clapped along.
• 12:32
  SPEAKER_00: And so you were getting feedback that said, Oh, and then you were growing That started to expand in a region, right?
• 12:38
  SPEAKER_00: Exactly, exactly.
• 12:38
  SPEAKER_00: So so that though the word I'm gonna use there is that once you start getting that positive feedback, you want to amplify that.
• 12:44
  SPEAKER_00: You want to turn that up.
• 12:46
  SPEAKER_00: And then when you're getting the negative feedback, you want to dampen that.
• 12:49
  SPEAKER_00: You want to find out, okay, well, let's not do that anymore.
• 12:52
  SPEAKER_02: Or you want to hit them when you got negative feedback.
• 12:54
  SPEAKER_00: Oh, yeah, oh, no doubt about it.
• 12:56
  SPEAKER_00: It can hurt.
• 12:57
  SPEAKER_00: But you have to be able to take that too.
• 12:59
  SPEAKER_00: I mean, I think this is one of the big things that differentiates entrepreneurs.
• 13:03
  SPEAKER_00: You've got to be able to look at yourself and go, holy smokes, you know, I'm not cut out for this, or I don't know.
• 13:08
  SPEAKER_02: And you're being constantly critiqued.
• 13:10
  SPEAKER_02: Yes.
• 13:11
  SPEAKER_02: Right.
• 13:11
  SPEAKER_02: And and because of that, you do have to develop what they call that tough skin.
• 13:16
  SPEAKER_02: Right.
• 13:16
  SPEAKER_02: Because you if this is your baby, right?
• 13:19
  SPEAKER_02: And it's personal to you.
• 13:21
  SPEAKER_02: And you want to just like you want to protect your wife and your kids in its own way, you want to protect that.
• 13:28
  SPEAKER_02: You want to protect that.
• 13:30
  SPEAKER_02: And so you do have to learn what you I love what you just said.
• 13:33
  SPEAKER_02: I mean, basically, bounce you you have to let it bounce off of you, but you'd have to learn from it.
• 13:38
  unknown: Yeah.
• 13:38
  SPEAKER_00: Like, in my opinion, these days, you have to ask for it because they are evaluating you 100%.
• 13:45
  SPEAKER_00: And if you don't say, Go ahead, let me have it.
• 13:49
  SPEAKER_04: Right.
• 13:49
  SPEAKER_00: You know, and I have been with clients for years, and finally, after five years, I say, Well, why why are you guys not doing this?
• 13:55
  SPEAKER_00: And I had one guy tell me, We never use that report that I spent a week on.
• 13:59
  SPEAKER_00: You know, I said, What do you mean you never use a report?
• 14:01
  SPEAKER_00: Well, it's just not doesn't have this or doesn't have that, or it didn't do this.
• 14:04
  SPEAKER_00: And I was like, Well, why didn't you say something about that?
• 14:06
  SPEAKER_00: Yeah, I like all I got was, oh, this is great.
• 14:08
  SPEAKER_00: Thank you.
• 14:09
  SPEAKER_00: It was like, well, we didn't want to bug you.
• 14:11
  SPEAKER_00: You know, it's like Yeah.
• 14:13
  SPEAKER_00: Yeah.
• 14:13
  SPEAKER_00: Yeah.
• 14:14
  SPEAKER_02: Yeah.
• 14:14
  SPEAKER_00: Yeah.
• 14:15
  SPEAKER_02: Why you're here to be bugged.
• 14:17
  SPEAKER_00: That's right.
• 14:18
  SPEAKER_00: And so I I mean, I so I what I'm saying is I just spent a week on something you're gonna throw in the trash can, you know.
• 14:23
  SPEAKER_00: No, let's be I'm gonna you're you're paying for that time anyway.
• 14:27
  SPEAKER_02: So let's do something that's you know, you know, it's it's interesting as as things did evolve and more things became became on my plate personally, like starting a record label, going from so you find so you were doing it all yourself, and then finally you get a publishing deal, and another publishing deal, you're stepping up the ladder, another publishing deal, and you and you're just trying to itching just to get out and play those songs that you're writing for all these publishers, and you finally get back out there and you're doing exactly what you were doing before.
• 14:55
  SPEAKER_02: And then when you leave the big label and you're going on your own again, and you're running a label, you're doing all the things you did before, but now you have to do that.
• 15:06
  SPEAKER_02: And there is a whole nother world that's attached to that.
• 15:10
  SPEAKER_02: And you gotta understand consultants, and you gotta understand, and I was you would I was an understanding radio and consultants and making really solid relationships with great people.
• 15:20
  SPEAKER_02: Some were more difficult and some were became dear, dear friends.
• 15:24
  SPEAKER_02: And they would fight for me, you know, in radio and all that.
• 15:26
  SPEAKER_02: It went, especially in in my era where they really could.
• 15:30
  SPEAKER_02: Yeah, it was huge.
• 15:31
  SPEAKER_00: No, it's the only way you won.
• 15:33
  SPEAKER_02: But those relationships had everything to do with the label, you know?
• 15:38
  SPEAKER_02: It was actually more of a label side thing than an artist side thing.
• 15:42
  SPEAKER_02: And so I was building these relationships because of the game of golf mic, once again, Randy, that I was playing golf with a lot of the radio guys that were that were making decisions on whose records get played.
• 15:52
  SPEAKER_02: And we were we became friends on the golf course, and then they they wanted to love the music I was making.
• 15:58
  SPEAKER_02: Now listen, they were very hardcore, and if they didn't, they would tell you.
• 16:02
  SPEAKER_02: So we had that, we had a very honest relationship, but they would give me the benefit of the doubt and let the people decide.
• 16:09
  SPEAKER_02: And so there I was already one step further along than it was before.
• 16:13
  SPEAKER_02: So when when and doing my own thing, it became, it just became very, it just became very special.
• 16:20
  SPEAKER_02: This is a guy right here.
• 16:21
  SPEAKER_02: This is what I look at.
• 16:22
  SPEAKER_02: This is this is H.
• 16:24
  SPEAKER_02: Bud Nelson.
• 16:25
  SPEAKER_02: This is when he was a kid, and this is when he ran my record label.
• 16:29
  SPEAKER_02: Wow and he's from Mississippi, but he got heard at a being a jock in Jackson, Mississippi, and thought, and it was Boston, one of the top, well, eight markets in the country.
• 16:39
  SPEAKER_02: And he gets called on the phone because the guy's going to a funeral, and he was from Collins, Mississippi, small town.
• 16:46
  SPEAKER_02: And the guy goes, Look, you're really good, and I want to talk to you about coming to Boston and being on my station.
• 16:52
  SPEAKER_02: And Harry goes, Ah ha ha ha ha, whatever.
• 16:54
  SPEAKER_02: Like he thought it was a joke.
• 16:55
  SPEAKER_02: You know, it was a prem.
• 16:58
  SPEAKER_02: And it took a few times for the guy to go, I'm serious, call me.
• 17:02
  SPEAKER_02: So he does, he ends up going there, spends time in the CHR days in San Francisco, all these big markets.
• 17:08
  SPEAKER_02: I met him hoping he would love my music.
• 17:12
  SPEAKER_02: And he was a huge supporter.
• 17:14
  SPEAKER_02: And when I went on my own, he came in and ran my label.
• 17:17
  SPEAKER_02: Wow.
• 17:18
  SPEAKER_02: And so, and all these things, and so he was a big part of sunshine, a big part of everything.
• 17:23
  SPEAKER_02: And uh, and he got really sick and and uh and we miss him greatly, but I I'm looking at him right now because uh a lot of ways he reminds me of both of y'all, his spirit.
• 17:33
  SPEAKER_02: And uh and it's it's why I love you guys so much because y'all remind me of H.
• 17:38
  SPEAKER_02: Bud.
• 17:38
  SPEAKER_02: Well to him.
• 17:41
  SPEAKER_02: Yeah.
• 17:41
  SPEAKER_00: Yeah, amazing.
• 17:42
  SPEAKER_01: You know, I think I think the other thing that that and that brings up a that story kind of brings up a great point.
• 17:48
  SPEAKER_01: I think one of the one of the key things that a lot of, and I've had an opportunity to work with hundreds of entrepreneurs over the last 40 years, and one of the key things that I think many of them miss, they've got a great idea, or they've got a great product, or they've got a great service, but they lose the fact that unless you create value, it doesn't matter how good a product or service or idea that you have.
• 18:14
  SPEAKER_01: And you know, Steve, you talk about building those relationships with those radio guys on the golf course and and getting them to like your music.
• 18:23
  SPEAKER_01: What you were doing was creating value.
• 18:26
  SPEAKER_01: You were creating value from a standpoint of this is what my music, this is how my music can help you be better at what you do.
• 18:34
  SPEAKER_01: And you know, that's really the idea.
• 18:36
  SPEAKER_01: And I think the other piece is the thick skin thing, uh, almost inevitably every entrepreneur will fail at some point.
• 18:46
  SPEAKER_01: If you look at uh if you look at the statistics, many of them failed three to five times, you know.
• 18:52
  SPEAKER_01: Well that's uh I've never heard of such a thing.
• 18:54
  SPEAKER_01: Have you, Randy?
• 18:55
  SPEAKER_01: No, but it's but it's interesting to talk to, especially talk to folks that are in the startup world today and are starting up those things.
• 19:03
  SPEAKER_01: They don't even think that that there's a chance that's ever going to happen.
• 19:05
  SPEAKER_01: They've got the greatest things since sliced bread, and there's no way it's gonna fail, you know?
• 19:10
  SPEAKER_01: And you have to sort of hit them over the head with a two by four and say, listen, at some point you will make a decision that will lead to a failure of some sort.
• 19:19
  SPEAKER_01: And what you hope to do is learn from it, move on, and not make the same mistake again.
• 19:25
  SPEAKER_01: Yeah.
• 19:26
  SPEAKER_02: Let's let's talk about some of examples.
• 19:29
  SPEAKER_02: So, musically, for me, watching and having my first big hit records with Napster being in the centerpiece of it all.
• 19:37
  SPEAKER_02: So, and and obviously evolved into what we have now streaming and all that, which is involved for the movies and TV and all that, planned subscriptions to not have commercials and da-da-da-da-da-da-da, all that, right?
• 19:48
  SPEAKER_02: So there was that huge transition.
• 19:50
  SPEAKER_02: A lot of people went sideways because of that.
• 19:53
  SPEAKER_02: We have AI now, right?
• 19:55
  SPEAKER_02: You had the internet, you had the, you know, da da da da, right?
• 19:58
  SPEAKER_02: So we have all these things that have come along musically that have affected us, but those a lot of those same things have affected all of us.
• 20:06
  SPEAKER_02: Right.
• 20:06
  SPEAKER_02: And uh so where do you know to wait to pause and go, wait a minute, this is real.
• 20:14
  SPEAKER_02: How do we pivot?
• 20:16
  SPEAKER_02: And how do we make it through this to the other side and evolve?
• 20:20
  SPEAKER_01: Yeah, and I'm for me, I think the great example is the financial crisis in 2008.
• 20:25
  SPEAKER_01: I mean, I saw a lot of a lot of people in the the financial services business where I was doing the the bulk of my work at that time.
• 20:33
  SPEAKER_01: I I think that the failure many times materializes from disruptors, whether it's the internet or streaming or a financial crisis or whatever.
• 20:45
  SPEAKER_01: These are all disruptors.
• 20:46
  SPEAKER_01: And one of the classic reasons why many entrepreneurs fail is they're not able to, number one, foresee a disruptor.
• 20:55
  SPEAKER_01: Or number two, they're not able to adapt and be flexible and pivot to overcome the disruptor.
• 21:02
  SPEAKER_01: And I think that's where the challenge, the great entrepreneurs, the ones that have done done the most.
• 21:08
  SPEAKER_01: I mean, look at look at Steve Jobs, you know, he gets fired from Apple.
• 21:12
  SPEAKER_01: You know, there's a disruptor in the tech crash, and all of a sudden he gets brought back in.
• 21:17
  SPEAKER_01: And look what he does to Apple, you know, from that point on.
• 21:20
  SPEAKER_01: And so he's able to adapt, to be flexible, to realize what the market is doing at that point.
• 21:28
  SPEAKER_01: But also being true, you know, Steve, you mentioned this idea of purpose.
• 21:33
  SPEAKER_01: You know, Jobs was driven by purpose.
• 21:37
  SPEAKER_01: He wanted hardware.
• 21:39
  SPEAKER_01: Jobs wanted to create the best possible user experience uh that was out there.
• 21:45
  SPEAKER_01: And that's what Apple and the first Macs and the iPhones and all that stuff was all about, and still is today.
• 21:53
  SPEAKER_01: And Job about it so much.
• 21:55
  SPEAKER_02: You think about his care for that.
• 21:58
  SPEAKER_02: And so he was.
• 22:00
  SPEAKER_02: Coming back with a vengeance when he came back.
• 22:02
  SPEAKER_02: And obviously the iPhone and all this, right, changed the world.
• 22:04
  SPEAKER_02: Right, right.
• 22:05
  SPEAKER_02: So, you know, he had he had a stake because that was in his heart.
• 22:10
  SPEAKER_02: Right.
• 22:11
  SPEAKER_02: Absolutely.
• 22:12
  SPEAKER_02: Absolutely.
• 22:14
  SPEAKER_02: Wow.
• 22:15
  SPEAKER_00: The the basic idea that you're getting at, Mike, that the driving force behind your vision is what's going to propel you.
• 22:25
  SPEAKER_00: But at the same time, you have to have awareness, strategic awareness of what's going on in the marketplace that you're in.
• 22:32
  SPEAKER_00: And with all this change, and we've we've gone over in previous episodes lots of this stuff about how the world is changing.
• 22:38
  SPEAKER_00: I think it's pretty clear, though, that one of the things that you have to build into your entrepreneurial plan now is a profound sense of resiliency.
• 22:47
  SPEAKER_04: Yes.
• 22:47
  SPEAKER_00: And it's you've got a bending is now going to be the way it is.
• 22:51
  SPEAKER_00: For me, one of the big acid tests for entrepreneurs is I can really separate them almost into two categories right away.
• 22:58
  SPEAKER_00: There's the lone wolf kind of entrepreneur, the the single person out there doing it, oftentimes an attorney working on his or her own or whatever it is, or somebody like just a lone wolf consultant like I was for several years before making that fateful choice to hire a bookkeeper.
• 23:14
  SPEAKER_00: And so we you you jump from the lone wolf into something else.
• 23:21
  SPEAKER_00: The minute that you hire somebody, not just as a as a contractor, but as an employee, that is a big deal because now all of a sudden you've got the state sending you stuff and you've got things you got to post on the wall, and it's all, you know, it's like wow.
• 23:39
  SPEAKER_00: And at one point, uh, with extreme arts and sciences, we were up to about 40 people.
• 23:43
  SPEAKER_00: And that became a business in and of itself.
• 23:46
  SPEAKER_00: It was, you know, I needed now people to just deal with the people.
• 23:49
  SPEAKER_00: And that's when you start getting into that sort of uh uh peak.
• 23:53
  SPEAKER_00: But if you can't deal with the employee piece, and I've seen this is where a lot of people go off the rails.
• 23:57
  SPEAKER_00: Uh they don't hire well or they don't fire well or whatever, but they get dragged down by the people that they've brought into their business instead of having it accelerate their business.
• 24:07
  SPEAKER_00: So that's one of the first big acid tests that I think you have to really think through as an entrepreneur.
• 24:14
  SPEAKER_00: Because the other problem with that lone wolf scenario is you will get sick, you will break your leg, you will not be able to do something, and guess what?
• 24:25
  SPEAKER_00: The everything stops when that happens.
• 24:28
  SPEAKER_00: And the idea that you're the only person out there is not a very resilient business model, you know, unless you're just unless you don't need the money, you know.
• 24:39
  SPEAKER_02: Yeah, yeah.
• 24:42
  SPEAKER_02: I I'm watching, I'm watching Gwen and I are watching a series right now on PBS called Mr.
• 24:47
  SPEAKER_02: Selfridge.
• 24:48
  SPEAKER_02: And it's about Selfridge's Selfridge is the and Jerry Jeremy Pivans playing the role of Mr.
• 24:53
  SPEAKER_02: Selfridge.
• 24:54
  SPEAKER_02: And and Jeremy and and obviously he's an American guy that starts this clothing company that's just spectacular in London.
• 25:03
  SPEAKER_02: And it's got and he's known for his show windows.
• 25:07
  SPEAKER_02: They're closed at night and they're making this stuff, and there's like a grand entrance, and and all the the relationships, the things that are happening within all the he has so many employees, right?
• 25:18
  SPEAKER_02: A ton of them.
• 25:19
  SPEAKER_02: And he's having to juggle everybody, but it's when the when he leaves for a few days, the place just goes to hell.
• 25:26
  SPEAKER_02: And they're all and they're all panicking, right?
• 25:29
  SPEAKER_02: And he comes back and he has to deal with all this stuff, but it's interesting, and he, you know, he goes off and he becomes a big I think you know they're still around, right?
• 25:38
  SPEAKER_02: I'm pretty sure.
• 25:39
  SPEAKER_02: And they they become very, you know, spread out all over the place.
• 25:43
  SPEAKER_02: And it was during war, so we had to deal with pivoting during war.
• 25:46
  SPEAKER_02: A lot of his employees left, a lot of them didn't come home.
• 25:50
  SPEAKER_02: He figured out how to make have the women be in the warehouse and the str stronger women that could move stuff and all that, gave women a job, you know, that that wasn't wasn't a womanly thing back then.
• 26:02
  SPEAKER_02: Right.
• 26:02
  SPEAKER_02: And then when when things started to shape up and uh and they you know, he would he moved them up to the places where, you know, the women that are that love to find things, and they were like, There's no way they can be up here.
• 26:16
  SPEAKER_02: They can't come up here like and do what we do.
• 26:18
  SPEAKER_02: And they said, Teach them, let's teach them, let's give them a better life, let's give them a better opportunity, you know, and and you know, and so it was really interesting how he he sort of said, and it seems pretty real.
• 26:31
  SPEAKER_02: PBS does a good job, you know, a lot of times.
• 26:33
  SPEAKER_02: Yeah, it's been really, really good to watch.
• 26:36
  SPEAKER_00: He saw people as a resource, he saw people as a potential, as as something that was that had to be unlocked and unfolded, right?
• 26:46
  SPEAKER_00: And that is totally different than the person who's like, just come in, make the freaking donut.
• 26:53
  SPEAKER_00: The donut, make the donut, you put the donut in the counter.
• 26:56
  SPEAKER_00: I don't want anything else.
• 26:57
  SPEAKER_02: Yeah, it's not gonna work that way.
• 26:58
  SPEAKER_02: And he and he had so many constant curveballs coming at him because of the times, right?
• 27:04
  SPEAKER_02: And and trying to reinvent himself almost weakly, like at times, and just and create sparks.
• 27:11
  SPEAKER_02: Like you know what I mean?
• 27:12
  SPEAKER_02: Like he'd do something that would be extravagant and that may cost this or that, and it would it would spark things that would would, you know, link, you know, it would give him another two months of sales.
• 27:25
  SPEAKER_02: You know what I mean?
• 27:25
  SPEAKER_02: Like it was really interesting how he created moments that turned into months.
• 27:29
  SPEAKER_04: Yeah, yeah.
• 27:30
  SPEAKER_04: And it was just interesting.
• 27:32
  SPEAKER_02: It was constantly evolving with everything that came.
• 27:35
  SPEAKER_00: And that's required.
• 27:36
  SPEAKER_00: That's the bottom line right there.
• 27:38
  SPEAKER_00: And it's this weird thing where you you sort of have to be aware of everything, but you also have to have this laser beam focus.
• 27:45
  SPEAKER_00: So this is the paradox of being an entrepreneur.
• 27:48
  SPEAKER_00: You've got to have this global sensibility.
• 27:50
  SPEAKER_00: We talked about that as a lantern light in a previous episode where your mind is sort of just gently looking around you all the time.
• 27:57
  SPEAKER_00: And then you got to have spotlight.
• 27:58
  SPEAKER_00: You got to have the ability to go boom and just lock in on something and stay on it and understand it and be relentless about whatever that thing is.
• 28:08
  SPEAKER_00: And that was always my struggle uh because I'm interested, I'm interested in everything else, you know, that's out there besides what I'm looking at.
• 28:16
  SPEAKER_00: And I really need somebody, a second person in my organization, who will just take, he'll go, no, shut up.
• 28:23
  SPEAKER_00: I know you've got an idea.
• 28:24
  SPEAKER_00: I don't want to hear it right now.
• 28:26
  SPEAKER_00: Get your head into this thing that we're doing right now for this client, you know.
• 28:30
  SPEAKER_00: And I needed that two by four upside the head several times because I was always ready to go into the next thing.
• 28:35
  SPEAKER_00: And that is the worst possible.
• 28:37
  SPEAKER_01: Well, and I think you make a great point there, Randy.
• 28:39
  SPEAKER_01: I think that, you know, as an entrepreneur grows past that one person lone wolf stage, a lot of times they'll decide to pick those people that are like them.
• 28:51
  SPEAKER_01: Yes, versus versus those that can really complement them.
• 28:56
  SPEAKER_01: And I think there's a huge difference there.
• 28:59
  SPEAKER_01: You know, uh being able to make sure that you've got somebody that, you know, knows how to manage the people if you don't do it well, knows how to manage the financials if you don't do it well.
• 29:10
  SPEAKER_01: All of those things to make sure that that you're complementing your team, you're building people around you that makes you 10 times better than what you are.
• 29:20
  SPEAKER_01: And, you know, normally that's not a bunch of yes people around you that they're just gonna agree with you all the time.
• 29:27
  SPEAKER_01: You want people that'll actually disagree with you, that'll challenge your ideas, that'll really uh ask you hard questions about what it is you want done.
• 29:36
  SPEAKER_01: Uh, and then once the decision's made, they'll follow through and execute it.
• 29:40
  SPEAKER_01: You know.
• 29:41
  SPEAKER_00: There you go.
• 29:42
  SPEAKER_00: And those people are older.
• 29:44
  SPEAKER_02: I'm gonna say this it's a lot easier having a spotlight on you rather than being a spotlight.
• 29:50
  SPEAKER_02: I just want to yeah.
• 29:51
  SPEAKER_00: Well, easy for you to say, my friend.
• 29:54
  SPEAKER_00: Uh, there's a lot of us that would just wear ourselves with uh with a spotlight.
• 29:58
  SPEAKER_02: Blinded by the light.
• 30:00
  SPEAKER_02: Blinded by the light.
• 30:02
  SPEAKER_02: No, seriously, uh I get that.
• 30:05
  SPEAKER_04: And uh you gotta have it.
• 30:08
  SPEAKER_02: The spotlight, you got you you have to be that, and you have to be that I get it.
• 30:13
  SPEAKER_01: I get it.
• 30:13
  SPEAKER_01: Yeah, and Steve, you do the same thing with your band.
• 30:16
  SPEAKER_01: You don't have a bunch of guys in your band that are just gonna nod their head and say, okay, let's just do what Steve says.
• 30:22
  SPEAKER_01: You know, they they compliment you.
• 30:24
  SPEAKER_01: They I I got the chance to see your band a few weeks ago and first time, and it was phenomenal.
• 30:29
  SPEAKER_01: Those guys, I mean, you guys, you guys know exactly what the other one is gonna do and when they're gonna do it, and almost word for word what they're gonna say.
• 30:38
  SPEAKER_01: And I mean, it's a that is a fine-oiled machine you got.
• 30:42
  SPEAKER_02: Situation where we're, you know, I'm tired, and also it's a jam, it's not my show.
• 30:47
  SPEAKER_02: Right.
• 30:47
  SPEAKER_02: My real show is attentive crowd, and you have to be, you know, the stories between the songs and the it's just a different beast.
• 30:56
  SPEAKER_02: Right.
• 30:56
  SPEAKER_02: And it's that's what I love.
• 30:57
  SPEAKER_02: But with this situation, it becomes an all-star jam, and you just gotta turn it into that.
• 31:02
  SPEAKER_02: Uh, and there's a lot of parts and things going on that I would never allow, and they would never do in our regular show.
• 31:09
  SPEAKER_02: I'm not saying that we're we're so uh perfectly uh line in line at every show.
• 31:16
  SPEAKER_02: There's freedoms, but our freedoms are are contained uh for the better of the of everything that we are trying to do and uh and what it we want it to feel like.
• 31:27
  SPEAKER_02: So in those jam situations, it gets way out of hand and a little aggravating to me, actually, where and the guys know where there's just too much going on.
• 31:35
  SPEAKER_00: Let that hippie out, man.
• 31:37
  SPEAKER_00: Let the hippie out.
• 31:38
  SPEAKER_00: Well, and I think I think that's what I've done.
• 31:43
  SPEAKER_01: First three or four songs you guys did before you went into the auction, that to me seemed more like what you would get in your show versus versus the chaos that happened after the auction.
• 31:54
  SPEAKER_02: It's just you have but you but you know what?
• 31:56
  SPEAKER_02: We've talked about this.
• 31:57
  SPEAKER_02: You know, you you can't tame the cha chaoticness, you can't change what's going on in the room.
• 32:05
  SPEAKER_02: Right.
• 32:06
  SPEAKER_02: You can you can you can tilt some things and turn them, but you know, as an entertainer, you gotta go with the room.
• 32:14
  unknown: Right?
• 32:14
  SPEAKER_02: And the room, the room needs that it has a feeling and a vibe, and when it's that way, it's you know, everybody's been partying and drinking and whatever, and you're you're playing for those folks, and and not everybody, but you know what I'm saying.
• 32:26
  SPEAKER_02: It's a it's a party.
• 32:27
  SPEAKER_02: You know, you gotta go, you know, you have to, I have to uh I have to, you know, I gotta think way back to the the days of college band and all that stuff, and and you have to be that guy.
• 32:40
  SPEAKER_02: But there was a an importance in being that guy growing up because who would have thought that you would I'd be putting on charity a charity event where a foundation that really was that again?
• 32:49
  SPEAKER_02: Yeah, that was that's the show that works.
• 32:52
  SPEAKER_02: It works that way, you know?
• 32:54
  SPEAKER_02: So anyway, it's interesting, comes full circle at some point.
• 32:58
  SPEAKER_02: And trust me, there's all these different scenarios in the circle, right?
• 33:02
  SPEAKER_02: And then you go, oh, there I'm in that part of the circle today.
• 33:05
  SPEAKER_02: I'm in that part, I'm over here now, I'm over here now, I'm in an arena, or I'm in a theater, or you know, so and they're all totally different experiences and totally different competencies.
• 33:17
  SPEAKER_02: They live they live in this ring in my mind.
• 33:19
  SPEAKER_02: I see this circle and and they're all attached to each other in one way, and and there's a fine line between each one, you know?
• 33:25
  SPEAKER_02: Right.
• 33:26
  SPEAKER_02: Right, right.
• 33:26
  SPEAKER_01: It's uh and it's and I think it's no different with an entrepreneur.
• 33:30
  SPEAKER_01: I mean, they have to understand the markets and the environment that they're operating in.
• 33:36
  SPEAKER_01: You know, if they're if they're you know just laser focused on one particular market or environment and they're not paying attention to the to the other opportunities that might be around them, that's that cycle typically is pretty short.
• 33:49
  SPEAKER_01: I think it's one of the reasons why, I mean, ninety-four percent of the people that start a business never make it to the two-year mark.
• 33:57
  SPEAKER_02: And uh, you know, that's accurate that's an accurate number.
• 34:00
  SPEAKER_01: That's an actual statistic.
• 34:02
  SPEAKER_01: Yeah.
• 34:02
  SPEAKER_01: Yep.
• 34:02
  SPEAKER_01: That's an actual statistic.
• 34:04
  SPEAKER_02: It's the odds are against you heavily.
• 34:07
  SPEAKER_02: Yeah.
• 34:07
  SPEAKER_02: Can I can I ask you something, Mike, while you're staying on there?
• 34:09
  SPEAKER_02: You know, I interrupted rudely interrupted you.
• 34:11
  SPEAKER_02: I'm not doing this, sorry.
• 34:15
  SPEAKER_02: Because you got because when you say things like that, I when you're right there.
• 34:18
  SPEAKER_02: Randy, you brought up that more this gen z Gen, what?
• 34:22
  SPEAKER_02: Which gender we are?
• 34:24
  SPEAKER_02: Gen A.
• 34:25
  SPEAKER_02: They're they're becoming more entrepreneurial in spirit, uh, especially after COVID, right?
• 34:30
  SPEAKER_02: Some of that can be some of those entrepreneurial reasons can be the wrong reasons because they may want to just stay at home, right?
• 34:36
  SPEAKER_02: So you you gotta have a purpose and a reason for what you're doing.
• 34:40
  SPEAKER_02: So with that being said, and so many, will that percentage go up or down, Mike?
• 34:46
  SPEAKER_01: Well, I think it'll go up.
• 34:48
  SPEAKER_01: I think it'll go up because I I think a lot of the a lot of these people are are trying to build a business, and and I've had experience seeing some of these folks over the last two years with one of my clients, they they have this bright idea that they think nobody else is gonna have, or they think they can create something that nobody else has ever created.
• 35:12
  SPEAKER_01: Um, and it that opportunity doesn't happen very often.
• 35:17
  SPEAKER_01: And so because of their lack of I would say skill set from a standpoint of understanding, and and I think one of the biggest problems that any new entrepreneur makes, or one of the biggest challenges any new entrepreneur has, is the fact that at some point you gotta sell something.
• 35:39
  SPEAKER_01: And if you can't sell it, you're not gonna be around very long.
• 35:44
  SPEAKER_01: And I think that's probably a huge percentage of those businesses that fail never really figure out how to sell or scale what it is they do and and provide.
• 35:56
  SPEAKER_01: And I think that's the that's the key.
• 35:59
  SPEAKER_01: I mean, you can you can be a quick flash in the pan and and you know have a great product and sell a whole bunch of it.
• 36:05
  SPEAKER_01: And we got hundreds of thousands of examples of that, but then you haven't thought through what's what's the next phase, what's where do I go from here?
• 36:14
  SPEAKER_01: What what's the market do from here?
• 36:17
  SPEAKER_01: And that's where they hit about the year, year and a half point, and then they realize I don't have anything else I can sell, or I don't have anywhere else I can sell.
• 36:26
  SPEAKER_01: And so I think that uh if they're selling, now there's a whole bunch of them that have no clue how to sell anything.
• 36:32
  SPEAKER_01: They couldn't sell heaters to Eskimos.
• 36:35
  SPEAKER_01: And, you know, when that happens, they got a real problem.
• 36:38
  SPEAKER_01: And I think that that's though, those are the ones that you see.
• 36:41
  SPEAKER_01: They rarely make it a year unless they've got deep pockets and they, you know, they keep trying to do anything and everything.
• 36:48
  SPEAKER_01: Randy, you got something to say.
• 36:50
  SPEAKER_00: Well, I'm just I'm enjoying the the I'm along on the ride there with Mike.
• 36:55
  SPEAKER_00: I can I can feel the pain.
• 36:57
  SPEAKER_00: One of the thoughts I was having, though, uh is as a as a traveling man, uh, I have really enjoyed Ubers over the last what decade.
• 37:08
  SPEAKER_00: They they have eliminated the need for me to rent cars, and I hate driving in cities I'm not familiar with.
• 37:15
  SPEAKER_00: I hate driving in general.
• 37:16
  SPEAKER_00: Uh so it was just always a really nice thing.
• 37:18
  SPEAKER_00: But Uber drivers are interesting cats.
• 37:21
  SPEAKER_00: Or Lyft or whatever the the the Uber drivers, you'll see the Uber driver who's just, I'm just driving.
• 37:29
  SPEAKER_00: I'm just done.
• 37:30
  SPEAKER_00: I got I gotta make some money, I'm just driving, you know, and it's like right on, you're taking care of your family, you're doing what you need to do.
• 37:37
  SPEAKER_00: Great.
• 37:37
  SPEAKER_00: And then there are Uber drivers that are entrepreneurs, and so one quick story.
• 37:42
  SPEAKER_00: I was in Austin, Texas, and an Uber driver picked me up in a uh Prius, and I get into the Prius, and it is covered in thick plastic on the inside.
• 37:55
  SPEAKER_00: The seats have thick plastic, the the floor mats are plastic.
• 38:00
  SPEAKER_00: There's six or eight video cameras inside the rig at every angle, and then there's signs hanging everywhere that say, you know, if you throw up, here's what's gonna happen in my car.
• 38:14
  SPEAKER_00: And it's this is what you're gonna get charged, this is what I'm gonna do.
• 38:18
  SPEAKER_00: If you pass, I mean it's all these signs, and I get in, it was like two in the afternoon.
• 38:21
  SPEAKER_00: I get in, I was like, okay, this is this is the the most merchandised Uber I've ever been in.
• 38:28
  SPEAKER_00: And he said, Well, I am making a business out of doing the bar work.
• 38:34
  SPEAKER_00: So he starts his day normally at about 5 p.m.
• 38:40
  SPEAKER_00: and he goes until close to 5 a.m.
• 38:43
  SPEAKER_00: So he is getting all he's taken the people to the bars and he's taken them home from the bars, and he's figured it out.
• 38:50
  SPEAKER_00: And he everything in that that thing was had there was a reason that all of that stuff was there, you know.
• 38:57
  SPEAKER_00: And he had some stories to tell.
• 38:59
  SPEAKER_00: But what he said was, you know, he was making three, four, five times what an average Uber driver was making, and he's now selling and teaching others, and so they're they're sort of working out this way to solve a problem, which was if you're drunk coming out of a bar in Austin, Texas, it's apparently really hard to get an Uber because nobody wants to you up.
• 39:21
  SPEAKER_04: Right.
• 39:23
  SPEAKER_00: So anyway, there's people that are like this.
• 39:25
  SPEAKER_00: Another guy, I'm in Jackson, Hole, Wyoming, about three weeks ago, and I've got a guy who's clearly Russian or Eastern European, and I said, uh, so you know, are you you know driving Uber?
• 39:36
  SPEAKER_00: And he goes, I drive Uber.
• 39:37
  SPEAKER_00: I drive Uber because I'm going to make more money.
• 39:39
  SPEAKER_00: And I said, Okay, that makes good sense.
• 39:41
  SPEAKER_00: And I said, What are you gonna do with that money?
• 39:42
  SPEAKER_00: He goes, I'm already buying, and he's bought five cars already.
• 39:46
  SPEAKER_00: Yeah, that's happening.
• 39:47
  SPEAKER_02: Uh yeah, uh he's now I've got drivers I use now in New York and LA, and that's with how they started, and now they got a handful of cars already.
• 39:55
  SPEAKER_02: Sure.
• 39:55
  SPEAKER_02: Yeah, nice cars, nice big suburban.
• 39:59
  SPEAKER_00: So here's this guy, he's out hustling, but he's got now his other cars out there that are making money for him all the time, too.
• 40:05
  SPEAKER_00: And so that is an entrepreneurial thought, as opposed to I'm gonna go drive this car for Uber, I'm gonna make my my$100 because I need to, you know, to buy my diapers for the for the babies.
• 40:16
  SPEAKER_00: That's fine.
• 40:16
  SPEAKER_04: Right.
• 40:16
  SPEAKER_00: I got no problem with that.
• 40:18
  SPEAKER_00: But it's a whole different mindset when you start saying, oh, okay, wait a minute.
• 40:21
  SPEAKER_00: I'm gonna, there's a problem in the market here.
• 40:23
  SPEAKER_00: I can go, I can make three times more if I figure out how to deal with vomit in my car.
• 40:28
  SPEAKER_02: That's that's the Yeah, yeah, yeah.
• 40:30
  SPEAKER_02: You know what the interesting thing about about it all is uh the depending on what time of day it is or what or or the demand, it's amazing how far the price will go up.
• 40:40
  SPEAKER_02: Yeah.
• 40:41
  SPEAKER_02: How low how low it'll go down for the same distance according to a set at a different time of day.
• 40:48
  SPEAKER_00: So this is that nonlinearity we were talking about, right?
• 40:51
  SPEAKER_00: So it's you can't you can't count on anything anymore in that regard.
• 40:55
  SPEAKER_00: But but yeah, getting back to the entrepreneurial piece, I feel like you know, when you have that fire in your belly, I want to do this, I think that's when you need a mentor.
• 41:05
  SPEAKER_00: That's when you need to go to Mike Farrell, that's when you need to go to Steve Azar and say, I got my guitar, I all I do now is play the guitar.
• 41:14
  SPEAKER_00: I think I want to be on the road, and they need to sit down with you and have that come to Jesus conversation that says, Well, here's what it's gonna really, really take.
• 41:25
  SPEAKER_00: And so my first advice if you're listening, if you've made it to this far in the podcast, go find yourself a mentor because that is the most important bit of coaching you will ever have.
• 41:35
  SPEAKER_01: I would agree.
• 41:36
  SPEAKER_01: Yeah, I would agree.
• 41:37
  SPEAKER_02: I think wonderful.
• 41:39
  SPEAKER_02: Bring us bring us home, Steve.
• 41:41
  SPEAKER_02: Okay.
• 41:42
  SPEAKER_02: I I can tell you this that uh you can never be overprepared, and you can never not not focus on when things are going good at paying attention at how the world is evolving.
• 41:57
  SPEAKER_02: And when you don't have the ability to put pivot, then that can be that 94 percentile that doesn't make it.
• 42:06
  SPEAKER_02: And then you're you know, you're you sh, you know, if that's the percentage, Mike, that you're telling me that is just absolutely crazy to hear.
• 42:15
  SPEAKER_02: Crazy that that's percentage.
• 42:16
  SPEAKER_02: Think about the six percent that actually get it right, right?
• 42:19
  SPEAKER_02: And they stick around, and they stick around, those people are actually doing it right and they're and they're doing things and they're always prepared.
• 42:28
  SPEAKER_02: And I really feel like they're great at working with people, and they're great at building relationships.
• 42:33
  SPEAKER_02: And uh, even with the Uber, yeah, I built relationships with these drivers, you know, that I that I depend on now, and they become friends in a way.
• 42:40
  SPEAKER_02: You know, I I hug we hug them when we see them, and we hug them when we say goodbye, and and we met them in Uber, and now they drive us in in big cities and all that.
• 42:48
  SPEAKER_02: It's just as simple as that.
• 42:49
  SPEAKER_02: And they've got cars and multiple cars and multiple drivers, and sometimes they can't pick us up.
• 42:54
  SPEAKER_02: One of their other drivers has to pick us up.
• 42:56
  SPEAKER_02: I I guess I'm hopping around, but just sticking on that point since we finished with it, it shows you the entrepreneur spirit and the ability to take an opportunity and turn it into a real life, not just for yourself and a better life, but a life for others.
• 43:12
  SPEAKER_02: That's it.
• 43:13
  SPEAKER_02: And it's the magic of working with others and being responsible for a lot of people, which means you're responsible a lot of times with their families.
• 43:21
  SPEAKER_02: It's a big responsibility, uh, but it's a beautiful thing when it when you're able to continue to do that for a long term.
• 43:28
  SPEAKER_02: Love it.
• 43:29
  SPEAKER_02: Absolutely.
• 43:29
  SPEAKER_02: Yeah.
• 43:31
  SPEAKER_00: So get on, get get busy out there.
• 43:34
  SPEAKER_00: Start starting your companies, my friends.
• 43:36
  SPEAKER_02: Yeah, all right.
• 43:38
  SPEAKER_02: Don't do it just because you want to work from home.
• 43:40
  SPEAKER_02: You know what I'm saying?
• 43:42
  SPEAKER_02: That's not a good idea.
• 43:43
  SPEAKER_02: But but you can do it.
• 43:46
  SPEAKER_01: That's gonna that's gonna wrap up episode one of season three.
• 43:50
  SPEAKER_01: Can you believe we're starting three seasons, guys?
• 43:52
  SPEAKER_01: Holy mackerel.
• 43:53
  SPEAKER_01: But uh, we'll be back again.
• 43:55
  SPEAKER_01: Resonance goes live every Thursday.
• 43:58
  SPEAKER_01: So uh we'll start up season three.
• 44:00
  SPEAKER_01: And uh, fellas, uh, look forward to seeing you on on episode number two.
• 44:05
  SPEAKER_01: And remember that you can get us at all of the major podcast platforms: Spotify, Apple Podcasts, Amazon, YouTube, all those kinds of things.
• 44:16
  SPEAKER_01: You can watch the video version on YouTube.
• 44:18
  SPEAKER_01: And if you don't know what those links are, just go to resonanceleader.com and uh we've got all the links posted there.
• 44:24
  SPEAKER_01: And uh, we will see you uh next time for episode two.
• 44:29
  SPEAKER_01: Here we go of season three.
• 44:31
  SPEAKER_01: All right, see ya, boys.
• 44:32
  SPEAKER_02: Cheers, friends.com.