Latest / CattleUSA Daily / 85: Let’s talk business partnerships and life updates with Lauren
Transcript
- 0:03Welcome to the Cattle USA Daily podcast, your go to source for
- 0:07the latest livestock markets, industry insights and the
- 0:10updates shaping agriculture today.
- 0:12I'm your host Lauren Moylan, a passionate advocate for
- 0:15agriculture, here to keep you informed and connected.
- 0:18Now let's dive into today's episode.
- 0:24Hey y'all, happy Friday. Welcome to another episode of
- 0:28the Cattle USA Daily podcast. First and foremost, sorry for
- 0:32kind of ghosting you guys this week.
- 0:34It Long story short, just was a crazy week from hell, week from
- 0:39hell, if I'm being completely honest.
- 0:41Sorry about my costar guest in the backseat.
- 0:44That will all get explained here in a moment too.
- 0:46But so you know those weeks where you're like, I know it's
- 0:49going to be, it's OK, it's OK, Go lay down where you know it's
- 0:52going to be a busy travel a week.
- 0:55And so you've got everything planned out to a tee.
- 0:57So on Monday and Tuesday I was going to be gone out of town
- 1:01photographing a wedding in Branson, MO.
- 1:04So we had our Monday episode, Gary come out.
- 1:06Everything was great and grand there.
- 1:08Well, Tuesday comes around and I get sicker than Sam.
- 1:11Hell, like absolutely on my deathbed.
- 1:15We're coming back on Tuesday and I'm like, I am not doing good.
- 1:19I'm not doing good in the slightest.
- 1:21It was a 5 1/2 hour trip back and just like it started with
- 1:24head congestion and like the throat, I felt like I was
- 1:28swallowing razor blades. It was not fun.
- 1:29And then the second I get home, I, it immediately hit me and I
- 1:34think my body just got home and was like, OK, we're home now.
- 1:37So we're going to fall apart into a million pieces.
- 1:40And that is exactly what happened.
- 1:42I was not doing good Tuesday night, had a fever, all of the
- 1:46things. And then Wednesday morning I
- 1:48wake up and I, I just feel like I'm on my deathbed.
- 1:51I'm like, guys, I have not been this sick in so long.
- 1:53I'm a person that does not get sick.
- 1:55And so when I do, I think my body is like, you know what, You
- 1:59don't get sick very often. So when you do get sick, we're
- 2:01going to make it just a million times worse for you than it
- 2:04could possibly be. And so Wednesday, I was on the
- 2:07struggle bus, to say the least. I didn't get out of bed until
- 2:11like 11 AM and then by the time I did get out of bed, I made it
- 2:15a whole like, you're fine, go lay down.
- 2:17I made it a whole like 10 feet to the couch and that was pretty
- 2:22much it. I slept all day long.
- 2:25I did end up going to the doctor and at first they were like, we
- 2:27think you have the I don't know if I can say this if I'm going
- 2:30to get like censored, if they'd like hear this word in the
- 2:34transcript over there, but it's the C vid.
- 2:36They thought I might have had that and which would have been
- 2:38so embarrassing because I have not gotten that once in the last
- 2:42five years. Never got it.
- 2:43I worked as a nurse on a COVID unit floor.
- 2:47Never got it. I would have been so
- 2:49embarrassed. Like that's honestly
- 2:50embarrassing if IN2025I were to get it.
- 2:54But apparently there's this new strand out there that like
- 2:56mimics the flu and they're calling it like razor blade
- 2:59throat. And they're like, we think you
- 3:00might have that. Well, thank God, thank God I did
- 3:03not have that. But they're like, we also don't
- 3:05really know what you have. You have some really nasty viral
- 3:08thing because not only did I get sick, my employee Allie, who was
- 3:11with me and Branson also got not violently sick.
- 3:14And so we were just both on our deathbeds, absolutely worthless
- 3:17this week. And so they got me on a steroid
- 3:20and they were like, also, you're going out of town.
- 3:21So here's some other stuff that if this doesn't work, you don't
- 3:24get stuck in an urgent care in the middle of nowhere Wyoming
- 3:27for half of a day. But luckily the steroids are
- 3:30working. We traveled up to in Wyoming
- 3:33yesterday. So that was a 12 hour trip and I
- 3:38was still sick. I was feeling much better.
- 3:40I didn't have a fever anymore finally broke like my 102 fever
- 3:43that I had. But it still was just not not a
- 3:46fun travel day. I wouldn't wish traveling sick
- 3:49on my worst enemy. It it was not fun in the
- 3:52slightest. Even if you have like your
- 3:53husband drive, it's still just not fun for anyone involved.
- 3:57And so we are up actually in the Bighorn Mountains this weekend.
- 4:00We are here with family. This trip has been planned for a
- 4:02little while. My in laws actually live here in
- 4:03Wyoming and so we are here with them and it has been such a fun
- 4:07trip. But also I'm really humbling for
- 4:09someone who has not been camping like this, like in a tent
- 4:15camping in like 10 years if not longer.
- 4:18No, 10 years is probably about right.
- 4:19Like 8 to 10 years. I haven't been like camping in a
- 4:22tent. Obi Wan, you're fine.
- 4:24Go lay down. Go lay down you little anxious
- 4:27kid. And so last night we got up
- 4:30here, got into the mountain and we have like no service, which
- 4:33is absolutely amazing too. So last night we get up, we get
- 4:37our tent set up, get everything going and we set up our tent
- 4:40that is supposed to be a tent that can fit 2 queen size beds.
- 4:43That is not true. It barely fit 1 queen size air
- 4:46mattress and it was hilarious just us trying to get that set
- 4:50up. And then it was like 3540° last
- 4:54night and it was just, it was a humbling experience.
- 4:56I, I enjoyed, enjoyed it in hindsight, but it was cold.
- 5:00It was cold and I, I was not ready for sleeping on an air
- 5:04mattress in a tent in the woods in 30°.
- 5:06I, I just, I was not ready for that.
- 5:09And so this morning I woke up a little grumpy, but I had my Red
- 5:13Bull, Gary and I recorded our podcast for Monday right before
- 5:16this. And so he got me all excited
- 5:19again. And I was like, you know what,
- 5:21we're going to get this Friday episode recorded out to you
- 5:24guys, even if it is a little late, but I am finally to a
- 5:27point where you guys can hear my voice.
- 5:28I don't sound like I smoke 2 packs of cigarettes a day.
- 5:32And we're going to come on and we're going to have fun.
- 5:35The kids and I kids, AKA my dogs and I came into town down the
- 5:39mountain about 20 minutes. And we are sitting in the
- 5:42parking lot of the bomb guards right now recording these
- 5:44podcasts, which just feels very fitting.
- 5:46Just feels very fitting. It is Friday, we're bringing the
- 5:48Friday energy for you guys, but we're also going to bring like I
- 5:53just spent the 1st probably 8 minutes of this episode talking
- 5:56about how crazy of a week it has been.
- 5:58I am sorry for not bringing you guys any episodes this week.
- 6:00I feel really, really terrible about that.
- 6:02Not even having any banks for you guys to just be able to
- 6:05schedule and throw out, even if they were maybe not as timely or
- 6:08things like that. But we are back and next week,
- 6:11I'm very excited for it because we have multiple guest episodes
- 6:14coming out next week, which is there.
- 6:16We have some really good ones lined up, which I'm very, very,
- 6:19very excited about, and then some guests that I'm working on
- 6:22getting lined up for the next couple weeks.
- 6:25It's just going to be really great for all of you guys.
- 6:26And I know you're really going to enjoy it.
- 6:28But today I wanted to come on and talk about leases in
- 6:32partnerships, which I know it's probably like, Lauren, you just
- 6:35talked about all of this other stuff, and then you're going to
- 6:37talk about leases in partnerships.
- 6:38Yeah. You know what, I am?
- 6:39I am, because this is an episode that I already had outlined.
- 6:42And I was like, you know what? This is something that I'm
- 6:44pretty passionate about as far as a business mindset goes, as
- 6:48far as just what it means to look at this from a business
- 6:52mindset and as a businessman along with a Cat Goldman's
- 6:55perspective. And so we're going to be diving
- 6:57into that today. And so first and foremost,
- 7:00leases and partnerships are so common in the AG industry and
- 7:04they're really vital to a lot of operational success.
- 7:07And they're really vital to a lot of people being able to
- 7:10either start a new venture or do something new or expand their
- 7:14operation or stabilize or diversify or whatever that may
- 7:17be for you. They're really, really
- 7:19important. But we need to walk through
- 7:21thinking about it from an outside perspective of is this
- 7:24actually worth it and is this actually going to align with my
- 7:28future business plans? Is it going to serve my long
- 7:31term goals? And with that, what are your
- 7:34long term goals? Are you trying to grow?
- 7:35Are you trying to diversify? Are you trying to stabilize?
- 7:38If you are, does that align with them?
- 7:40And if it is just short term cash flow, that's fine, but you
- 7:45need to be honest about that. Be honest about why you're
- 7:48getting into these certain scenarios, in these certain
- 7:50situations. The next thing you need to be
- 7:52asking yourself is what is the worst case scenario if I'm
- 7:55walking into this partnership? What is the worst possible thing
- 7:58that can happen and how are we reacting to that?
- 8:01If the market tanks, what if your partner bails?
- 8:03What if the landowner dies? Are you still protected in the
- 8:06end? And what does that look like for
- 8:08you as the partner, as the lease owner, as like whatever
- 8:12situation you are in, are you still protected?
- 8:14Is your operation protected if the worst case scenario happens?
- 8:18And then I also want you to be asking yourself, what are you
- 8:21bringing to the table and what is your partner or what is the
- 8:24other person that's involved in this bringing to the table?
- 8:26Because everyone's bringing something, whether it is sweat
- 8:29equity, is it capital, is it cattle, is it land, is it know
- 8:32how? What is that?
- 8:33And the reality of it is, is someone is always going to bring
- 8:38more than the other. It must be clear who is doing
- 8:42that and what those things are. The biggest thing about these
- 8:46situations is communication. Are you communicating clear and
- 8:51effectively with the people that you were entering these
- 8:53partnerships with? Because if you're not and if
- 8:56you're not communicating it clear, and if it's not in the
- 8:58contract, then I can't feel bad for you if shit hits the fan
- 9:02because then it was your own damn fault, right?
- 9:05At the end of the day, like you have got to have clear
- 9:07communication and I am sorry my cold is still kind of hanging
- 9:12out a little bit. So sorry if I'm a little sniffly
- 9:14and groggy this morning. But the next part I just kind of
- 9:18mentioned the contract. So your contract matters.
- 9:21And I love that we live in an industry where handshake deals
- 9:27can be respected and looked at as a contract in themselves.
- 9:32But at the end of the day, you need something in writing.
- 9:35You have got, you've got, you've got to put it in writing.
- 9:38Even if it is your cousin, your mentor or your best friend, you
- 9:41need to be putting it in handwriting.
- 9:43And the reality of it is a handshake deal is not business
- 9:47strategy. So put it in writing.
- 9:49And within that writing, you need these things.
- 9:52You need clear timelines and terms.
- 9:54So this looks like start and end date and the payment structure.
- 9:57You need to find responsibilities.
- 10:00Who does because what and when does each person do those
- 10:03things? You need exit clauses.
- 10:05So what happens? What if a person wants out?
- 10:07What does that look like? Have an exit clause in there for
- 10:10yourself and the partner. You need dispute resolution in
- 10:14there. Don't wait until things go South
- 10:15to figure it out. Are you doing mediation?
- 10:18Are you? And I highly, highly recommend
- 10:20putting dispute resolution and resolution in there and making
- 10:24it something like mediation because no one wants to go to
- 10:26court. No one wants to go to court.
- 10:27Court is expensive. Court is not fun for anyone
- 10:30involved. So putting something in there
- 10:32like mediation or you are going to have a third party come in
- 10:35and you're going to work it through that way #5 I want you
- 10:39to have profit and loss splits. So don't just assume 5050.
- 10:43If one of you is doing all the labor, if one of you is doing
- 10:46all of the things, what does that look like?
- 10:48Are you being paid for what you are contributing to the
- 10:51partnership? If one person is bringing more,
- 10:53like we talked about earlier, is that person being compensated
- 10:56for bringing more? And if they're not, is that
- 10:58being communicated clearly is a situation where it's OK for the
- 11:02first couple years if the split is not 5050 and we're going to
- 11:06be doing 7030 or 6040 for these first few years.
- 11:09And then you're either the contract is up and you revisit
- 11:12the terms or you're putting in your contract that for the first
- 11:15year, this is the split, the second year, this is the split
- 11:17or these are the pay like all of the things.
- 11:19And you also need to have lost splits in there.
- 11:21What happens if you don't make money that year?
- 11:23What happens if that business or that partnership does not become
- 11:26fruitful? And the reality of it is, is in
- 11:29a lot of situations, first year partnerships or new business
- 11:32plans aren't always profitable in that first year.
- 11:35So what does that look like? What are you going to be doing
- 11:37in those lost situations as well?
- 11:39Who is responsible for paying for that loss?
- 11:42How are those lost splits going? Everything like that.
- 11:44Next, let's talk red flags because here are there's there's
- 11:50the reality of it is, is there are situations and scenarios
- 11:53that we don't always know need to be avoided until they are.
- 11:57I really want you to avoid vague language like we'll figure it
- 12:00out when you were going through a business deal.
- 12:02No, not we'll figure it out in the future.
- 12:04We'll figure it out right now. Like we, we have a moment.
- 12:06Let's talk about it right now. Let's figure it out in this
- 12:08moment because it can't be a we'll figure it out or we'll
- 12:11cross that bridge when we get there.
- 12:13It needs to be done right now. If you don't have a written plan
- 12:16for unexpected cost, that is also a big red flag I need in
- 12:20your contracts or somewhere. It doesn't even have to be in
- 12:23your initial contract, even if it is like an amendum to your
- 12:27contract, whatever that is a written plan for unexpected cost
- 12:30because the reality of situations are there are
- 12:32unexpected cost around every single corner.
- 12:35So what are you doing for those unexpected cost?
- 12:37Who is paying for them? How are you differentiating if
- 12:40it is an unexpected cost that is needing to be paid for by the
- 12:43partnership or like how is that all getting figured out?
- 12:47You need a written plan for those, not let it be one of the
- 12:50situations of we'll figure it out when we get there.
- 12:52And then I also really want you to avoid partners who avoid
- 12:54accountability or hate discussing finances.
- 12:56Discussing finances is uncomfortable.
- 12:58Being real about partnerships is uncomfortable.
- 13:01There have been, let me think, I have almost entered 3 different
- 13:05business partnerships over the last few years that I look back
- 13:09on now and I am so glad that I was real with myself in those
- 13:14situations and didn't actually sign the contracts, didn't
- 13:17continue pursuing those partnerships and either let them
- 13:20fizzle out. Had a hard conversation was like
- 13:22hey I don't think this is a good fit or whatever that situation
- 13:26scenario was because I look at those with hindsight now and I
- 13:29am like that would have been a shit show.
- 13:32That would have really freaking sucked if I was in a partnership
- 13:36with that person because they either were not a reliable
- 13:39person, they didn't like talking about finances, they were wishy
- 13:42washy about signing a contract, they were just hard to get a
- 13:46hold of, hard to work with as a person.
- 13:49I had one of those. And I have such a thriving
- 13:52business now in one of my businesses that I'm doing all on
- 13:55my own that I didn't think I could do on my own, but I am.
- 13:59And A, it proves to me that I'm capable of doing really hard
- 14:03things myself and I don't always need another person.
- 14:05And B, it really re instills the fact that trust your gut on
- 14:08these situations. Trust your gut and listen to
- 14:12your intuition because you're probably not wrong on that.
- 14:15And also allow yourself a lot of time to go through these
- 14:19negotiations and have these discussions because if I didn't
- 14:22allow myself multiple months to discuss these partnerships and
- 14:27these business ideas and these situations with people.
- 14:29And I even started like I trialled some stuff with these
- 14:33people. Like before we officially
- 14:34entered a business plan contract and got all the LLC set up and
- 14:39everything like that. We did some test runs.
- 14:41Like we did a few little projects that we were like,
- 14:45we're just going to see how these go and see if we can work
- 14:47together well, see if this is fitting the vibe, everything
- 14:50like that. And they didn't go well.
- 14:53And it was a situation where I was like, thank God I trialed
- 14:58this now and didn't let this be something that I was like, we
- 15:01need to get a contract together and sign all this stuff and do
- 15:03all of these things. Before I even knew how that
- 15:06person worked as a business person.
- 15:08Because Oh my gosh, it would be. My life would look very
- 15:11different if I was in some business relationships with
- 15:14people that weren't good businessmen and weren't just
- 15:17good people for me to be working with.
- 15:18And I do have some partnerships that are amazing partnerships,
- 15:23don't get me wrong. I have three business
- 15:25partnerships that are phenomenal.
- 15:27Somewhere they're like I am very much in the background.
- 15:30I'm more of a silent partner. And then somewhere I am very
- 15:35front and center and they are very front and center with me.
- 15:37And we have a lot of different situations and dynamics that I
- 15:41have really great relationships with.
- 15:43So I don't want to say this and turn you guys off from business
- 15:45partnerships and relationships because they can be really good
- 15:47and really fruitful if they are the right ones, if they are the
- 15:50right ones and they're with the right people.
- 15:52And you take time to actually let yourself sit in negotiations
- 15:57and not try and throw something together in a month and be like
- 16:01good enough and just jump into something like this comes from a
- 16:04person who patients is not my not my strong suit in the
- 16:08slightest. And so taking multiple months to
- 16:10do something is really hard for me.
- 16:11But I promise it pays off in the end.
- 16:14So OK, also talking about things that I want you guys to be
- 16:18watching out for, here are some other things.
- 16:20So like not necessarily red flags, but just things to be on
- 16:23the lookout for. So the too good to be true
- 16:26partnership or lease. So if someone is offering you
- 16:28land, cattle, whatever it is with no strings attached, you
- 16:32need to read the fine print twice and maybe three times and
- 16:35then maybe pull out a magnifying glass.
- 16:37Because the reality of a situation is you don't want to
- 16:40be stuck in a spot where it is hard for you to get out of
- 16:46because you didn't read the fine print twice.
- 16:47Read the fine print twice and maybe even have a lawyer look
- 16:50over it. I highly recommend that if
- 16:52you've been listening to us on this podcast and you have that
- 16:55team of people, that banker, an attorney, all the things like
- 16:58that, reach out to your attorney and be like, Hey, I just, I'm
- 17:01going to hand this to you. I want you to look over this and
- 17:04please tell me what is good and what is bad.
- 17:06Loopholes, all the things. The next thing is the silent
- 17:08partner trap. I know I just said that I'm in a
- 17:10business where I'm kind of a silent partner, but I want you
- 17:12to look at it and see if the person that wants that is just
- 17:17in it for the upside but not the involvement.
- 17:20This is a situation where it is fine to have a silent partner,
- 17:23but those clarifications of expectations need to be set
- 17:27early. You need to clarify those
- 17:28expectations very, very early and just be clear about that
- 17:31communication. The next one is over promised
- 17:34profit shares. If someone is sitting next to
- 17:36you and they're promising a 30% return in year 1, I would be a
- 17:41little concerned about that. I would be sitting there asking
- 17:43for receipts. I'm just going to leave it at
- 17:45that. I'm not saying it's not
- 17:47possible, just ask for receipts and then going into probably the
- 17:51one that is the biggest for me is personality clashes.
- 17:54A partner who micromanages or avoids conflict or doesn't like
- 17:57to talk about finances. All of those things can tank
- 18:01progress faster than anything else.
- 18:04Absolutely. The first thing that will ruin a
- 18:06business is 2 people that just have an inability to work
- 18:09together and just don't have the personalities that work together
- 18:13well and can build a business well.
- 18:14And that is fine. It might be a great business
- 18:17idea, but the two of you just aren't the two people to be
- 18:19doing it together. So how can we take all of this
- 18:22that we talked about today and move forward with confidence,
- 18:25move forward with a plan and what can we be doing to walk
- 18:29into these leases and these partnerships and everything else
- 18:31as a business mindset? Well, and with efficiency.
- 18:35First and foremost, I want you to run the numbers.
- 18:36And then I want you to run the numbers again.
- 18:38And then I think I want you to run the numbers again.
- 18:40And then I think I want you to call your banker and have them
- 18:42run the numbers because running the numbers will give you
- 18:46confidence if yourself and your personality isn't giving you
- 18:49confidence in the 1st place. So run the numbers.
- 18:52Next, I want you to bring a lawyer.
- 18:54Bring in your attorney. It is worth the upfront cost.
- 18:58I I'm telling you right now, especially when you're drafting
- 19:01contracts and everything like that, there are a lot of amazing
- 19:04online tools that can draft a basic contract for you.
- 19:06Like if you tell it all the things that you need to be in
- 19:09there, it can draft something pretty basic and it might be OK,
- 19:13but God forbid you guys sign that contract and then you get
- 19:16in a disagreement and you actually need to pull that thing
- 19:18out and you're not protected. That is a worst case scenario.
- 19:22You could lose an entire business and have nothing to
- 19:25show for it all because you didn't spend $1000 to have your
- 19:29attorney right up the contract look over agreements and help
- 19:32walk you through that in the first place.
- 19:35Next, I want you to start with trial runs or short term
- 19:37agreements where possible. So this is going back to what I
- 19:40said earlier of if you can have a trial run before you sign a
- 19:43contract, that is a great situation to get to know how
- 19:46that person works as a business person, how your communication
- 19:49is going to go, how your personalities are going to work
- 19:51together, everything like that. If you can have a trial run or
- 19:54if you can have a clause in your agreement that says like the
- 19:59first three months is a trial period where like either of us
- 20:01can leave no questions asked. And this is what that's going to
- 20:04look like. That is.
- 20:05Is great. That is awesome.
- 20:07Even like if you need to sign a three month contract in the
- 20:09beginning where you're just signing three months instead of
- 20:11two years, do that. Absolutely do that.
- 20:14And then OK, with that, I want you to be brutally honest,
- 20:18brutally honest about your risk tolerance and energy bandwidth
- 20:22that you have as an individual because we all only have so
- 20:26much. We all have a tank and it is
- 20:29getting drained in a million places.
- 20:32And So what is your risk tolerance?
- 20:34What are you willing to risk for this partnership in this
- 20:37business to work? And then what is your energy
- 20:39bandwidth? What energy do you have to
- 20:41provide to this? If this is a situation where you
- 20:43need to be providing 10 hours a week to this and you only have 5
- 20:46to give, you need to be real honest with yourself and real
- 20:48honest with that partner about that.
- 20:50Because either that partnership is going to fail and it's you're
- 20:54not going to be able to give that 10 hours or something else
- 20:58that within your life is going to fail because you're now
- 21:01giving 10 hours to this and you're giving less to something
- 21:03else. So what is your energy
- 21:04bandwidth? And sometimes it, you might be
- 21:06in a situation where you have to redistribute your energy for a
- 21:11little bit and that's okay. That's absolutely okay there.
- 21:14Here's the thing. You're not always going to be
- 21:16able to give 100% to everything in your life.
- 21:18You're giving 100% to your business.
- 21:20You're probably not giving 100% to your family.
- 21:22And there is going to be times in seasons where things have to
- 21:25flux and you have to fluctuate and move things around.
- 21:29And that energy bandwidth is going to move.
- 21:31And that's OK. But you need to be brutally
- 21:33honest with yourself, with your partner, with your family
- 21:35members, everyone around you of what that's going to look like
- 21:38next. I want you to document
- 21:40everything and document it in writing, in writing, every
- 21:44single thing, every single conversation that you get off
- 21:47of, if it's a phone call, if it's a meeting, everything like
- 21:49that. I have an AI software that in
- 21:53the background of my meetings, records all of the meetings A
- 21:56and then B gives me like within 5 minutes of the meetings.
- 22:00I can have it give me like a meeting summary of takeaways,
- 22:04things we talked about, decisions that were made, and I
- 22:06can ask it specific questions. And like I've got got it down to
- 22:09a point where all I have to do is like generate the thing and
- 22:12it gives me an exact summary of everything that I wanted from
- 22:15that meeting really quickly. And what I do is immediately
- 22:18after that meeting, I go and do that.
- 22:20I copy and paste those notes. I send that to that business
- 22:25partner or that person that I was on the meeting with, all the
- 22:27people I was on the meeting with.
- 22:28And I say here is a summary of our meeting.
- 22:31If anything is incorrect, looks astride like looks wrong or we
- 22:36need to change something, please let me know here and now.
- 22:38But here is the summary of our meeting.
- 22:39And so I am documenting, A, I'm recording it, but then B, I'm
- 22:43also sending that e-mail chain verification.
- 22:47I'm documenting even verbal conversations because it is so
- 22:51important to cover yourself in those situations because I've
- 22:54never had to use anything against myself.
- 22:56I've never had to use any of that to be like, no, you said
- 22:59this or this is what we discussed, but I have it in case
- 23:03I do. And then also that goes back to
- 23:05communication. Now I'm presenting myself as a
- 23:07good communicator. I'm protecting myself by
- 23:10documenting everything, but I'm also communicating well with my
- 23:12business, US partners, because I'm showing that like, hey, this
- 23:15is what I heard from what you told me, I'm confirming that
- 23:19this is correct and that we are all on the same page here and
- 23:22that we all know our tasks and our roles correctly after coming
- 23:25out of this meeting that like we're ready to go and we're
- 23:27ready to handle and communicate the next thing.
- 23:30And then that goes into my last point.
- 23:31Communicate like your business depends on it because it does.
- 23:33Your communication is going to be the make or break for your
- 23:37business. If you cannot communicate well,
- 23:39your business is going to fail. So I need you to be texting your
- 23:42people, calling, emailing over communicate.
- 23:45Like be annoying at times because I would rather a
- 23:50business partner be all up in my business and sending me things
- 23:53all the time and updating me on progress and sending me reports
- 23:57and doing all of that then ghosting me for a week.
- 24:00And then I'm sitting here like, well, did they do anything this
- 24:04week? Did anything get done?
- 24:06Is our business growing? Is it failing?
- 24:09Do I need to go look at the bank account and make sure we're not
- 24:11bankrupt? Like over communicate like your
- 24:14life depends on it and like your business does because it
- 24:17absolutely does. And that goes in every aspect of
- 24:19your life. Just be a good communicator and
- 24:21really work on that. So here's the thing at the end
- 24:24of the day, guys, Elise, our partnership can unlock growth
- 24:27that you can't reach alone. And that is amazing, but only if
- 24:29it is structured right and if it is structured smart.
- 24:32So be a smart business person and with do not be afraid to
- 24:37walk away if the numbers and the vibe just don't feel right, that
- 24:40is totally fine to look at that and be like, that's not for me,
- 24:45It's not for me. And it is time to walk away.
- 24:48And there have been some really hard businesses that I've had to
- 24:51give up or that I've had to step back from or I've had to look at
- 24:55and be like, you know what? It is not, it's not right now.
- 24:57I it's, it's in the back of my mind, but it is not a right now
- 25:00thing because it just, it's not working.
- 25:02It's either the numbers aren't there or the person isn't or the
- 25:06vibe is off. Trust your gut.
- 25:08Trust that intuition. If you don't come out of this
- 25:10podcast with anything, please just trust your gut and trust
- 25:12your intuition and believe in your own ability to gauge
- 25:16whether people are in it for the right reasons.
- 25:18The thing is, there will always be another opportunity, but
- 25:21there will won't always be a way to fix a bad one.
- 25:24So with that, don't let yourself walk into a bad opportunity.
- 25:29Let yourself sit in that situation.
- 25:31Be like, this is uncomfortable right now, but I'm going to walk
- 25:32away because if I walk away, I'm saving my energy, my time, my
- 25:37financial bandwidth that I have right now to pour into something
- 25:40that is so much better, that is coming down the line.
- 25:43Because if you get into a bad partnership right now, there
- 25:45could be something so much better coming.
- 25:46And in six months you're going to look at it and be like, now
- 25:49what do I do? This amazing opportunity came to
- 25:51me and now, now I can't do it because I'm in this bad
- 25:55situation that I rushed into. So really realize that there
- 25:59will always be another opportunity, but there isn't
- 26:02always a way to fix a bad one. Leases and partnerships can be a
- 26:05great thing if done right and if done well.
- 26:08And I have seen first hand the ability to have great ones and
- 26:14to just have a really successful business because of these
- 26:17things. And so I want you all to have
- 26:19that as well. And so take this podcast episode
- 26:21and let it be your sign and your situation where you can look
- 26:25back on, look back on your life, look back on your businesses and
- 26:27really analyze everything, analyze what you were going
- 26:30through, analyze situations and be like, OK, we're going to take
- 26:34the time to do this and we're going to take the time to do it
- 26:36right. And this is what that's going to
- 26:38look like because it can be truly amazing and it can be
- 26:41truly fruitful if it is done right.
- 26:43So I hope you guys enjoyed this little chit chat today.
- 26:46And my probably 10 minutes I spent at the beginning.
- 26:49I'm just updating you guys on life and everything that is
- 26:52going on right now. I hope you all have a great
- 26:55Friday. This is I'm recording this mid
- 26:57morning on Friday and I'm doing it with my hotspot again in the
- 27:01bomb guards parking lot. So hopefully I'm able to get
- 27:04this out by early this afternoon for everyone and you guys can
- 27:07just get updated on everything that's going on and we can talk
- 27:10about leases and partnerships and where the hell has Lauren
- 27:13been all week and get you guys a Friday episode so that you can
- 27:16end your week on a positive note on some uplifting stuff.
- 27:19And at the end of the day, guys, I, I am just so grateful for all
- 27:24of you for this podcast, for the opportunity to come on and just
- 27:28chit chat with all of you guys about things in AG, things about
- 27:31business and bring on some amazing guests for you guys.
- 27:35And it wouldn't be possible without all of you guys as our
- 27:37listeners. And I am really, really, really,
- 27:40really just grateful and I hope that you all take some time this
- 27:43weekend to go do something fun, go do something enjoyable, go
- 27:47enjoy the amazing weather that you are having.
- 27:50I know Wyoming is having great weather this weekend.
- 27:52Even though I froze my tush off last night and I was freezing my
- 27:56tush off this morning, it is getting better and it is
- 27:59supposed to be in the 70s on Saturday.
- 28:01And so I just keep on reminding myself about that.
- 28:04I started this morning with four layers on and now I'm down to 2
- 28:08and I'm even about to shed my sweatpants that are over my
- 28:10leggings, so is up to 62°, which I think is just perfect weather
- 28:16up here in the mountains. Now that is 62° at the bottom of
- 28:19the mountain. I don't know if it's going to be
- 28:2062° when I go back up the mountain here in a little bit,
- 28:22but I'm going to enjoy it while I can.
- 28:24And I hope that you all take some time this weekend.
- 28:27Go enjoy some time with your family.
- 28:29Go do something that just lights your soul on fire and that can
- 28:32bring back some amazing energy into your week.
- 28:36Next Monday. And we recorded a podcast with
- 28:38Gary today for all y'all next Monday.
- 28:41And let's just say that it's going to be a great 1.
- 28:43Gary and I are bringing in some really awesome fun facts.
- 28:48And then we're talking hurricane season.
- 28:49We're talking the weather that we're having right now and
- 28:53everything else that that is bringing with it.
- 28:54The cycle, the LRC cycle, what all of that means, all that
- 28:57jazz. So make sure you look out for
- 28:59that on Monday. And I hope you all have a great
- 29:01rest of your weekend. And we will talk to you all on
- 29:04Monday. I hope you all have a good one
- 29:05and we'll see you later.