Latest / Power Moves Media / Power Moves Ep. 9: The Cost of Indecision & Making the Move

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Power Moves Ep. 9: The Cost of Indecision & Making the Move · Power Moves Media

• 0:00
  SPEAKER_00: Before we begin today's show, I want to acknowledge something that has been incredibly difficult for our community here in Prince George's County.
• 0:08
  SPEAKER_00: On Sunday, a black man was found hanging from a tree in Upper Marlboro, Maryland.
• 0:14
  SPEAKER_00: And for many of us, just hearing those words was deeply disturbing.
• 0:20
  SPEAKER_00: The image of a black person hanging from a tree carries a painful history in this country.
• 0:26
  SPEAKER_00: And with concerns around other cases across the country, we understand why our community had questions and wanted answers.
• 0:36
  SPEAKER_00: We also want to acknowledge the swift response from County Executive Aisha Brave Boy, Police Chief George Nader, and other county leaders and the community who came together quickly to address those concerns and committed to transparency.
• 0:52
  SPEAKER_00: Today, the Office of the Chief Medical Examiner determined that this gentleman died by suicide with no other signs of trauma.
• 1:01
  SPEAKER_00: Police have said there is no indication of foul play and are continuing their investigation.
• 1:07
  SPEAKER_00: As information continues to be shared, the facts have to lead us, but so does compassion.
• 1:14
  SPEAKER_00: A man lost his life, a family is grieving, and community has been processing something incredibly painful.
• 1:24
  SPEAKER_00: We stand with our community, we understand the concern, and we believe we can continue to ask questions and expect transparency while also having compassion for this gentleman, his family, and everyone affected.
• 1:41
  SPEAKER_00: And if you're struggling or you're concerned about someone you love, you can call or text 988 at the Suicide and Crisis Lifeline 24 hours a day, seven days a week.
• 1:54
  SPEAKER_00: Please check on the people you love and take care of yourself too.
• 2:05
  SPEAKER_03: All right, welcome to Power Moves, where we talk about leadership, business, entrepreneurship, and decisions behind how people move.
• 2:15
  SPEAKER_03: I'm Alexander Austin, enterprise value strategist, business owner, and nonprofit CEO.
• 2:22
  SPEAKER_00: And I'm Rose Johnson, founder of the Spotlight DMV.
• 2:28
  SPEAKER_03: And Rose, here's what we have coming up on today's show, as you already know.
• 2:32
  SPEAKER_03: Yes.
• 2:33
  SPEAKER_03: We're going to do something a little differently.
• 2:36
  SPEAKER_03: Normally we have a guest, but today it's just you and I.
• 2:39
  SPEAKER_03: We're just going to talk.
• 2:39
  SPEAKER_03: We're going to talk shop.
• 2:41
  SPEAKER_03: And later in the show, we're going to get into something I think every business owner and leader has had to deal with at some point, and that is making decisions when they don't have all the answers.
• 2:53
  SPEAKER_00: Alex, you know I struggle with that.
• 2:57
  SPEAKER_03: We all do.
• 2:58
  SPEAKER_03: And really it's specifically talking about the cost of indecision.
• 3:04
  SPEAKER_03: Because sometimes the biggest risk isn't making the wrong decision.
• 3:09
  SPEAKER_03: It's waiting too long.
• 3:10
  SPEAKER_03: And boy, Rose, do I have a story.
• 3:13
  SPEAKER_00: I can't wait to hear it.
• 3:15
  SPEAKER_03: I got a story.
• 3:16
  SPEAKER_03: And I think I think the conversation you and I have, just with our dialogue, we're going to leave our audience with some practical ways to know when it's time to make the call and make the move.
• 3:27
  SPEAKER_03: But first, Rose, we're getting very close to something that's also special and dear to my heart and your heart.
• 3:41
  SPEAKER_03: Come dress to impress.
• 3:43
  SPEAKER_03: It's going to be a good time.
• 3:45
  SPEAKER_03: We got a lot of beautiful people who have signed up.
• 3:48
  SPEAKER_03: Got some great sponsors.
• 3:50
  SPEAKER_03: It's going to be a great time.
• 3:52
  SPEAKER_00: Yes, it is just over two weeks away, guys.
• 3:57
  SPEAKER_00: So not much time.
• 3:59
  SPEAKER_00: But guess what?
• 4:00
  SPEAKER_00: We want to talk about the awards and uh the recognizing process and what an excellence in business award means to our business community.
• 4:11
  SPEAKER_00: And so we have six categories, including a new one this year.
• 4:15
  SPEAKER_00: So, Alex, let's go through them.
• 4:17
  SPEAKER_03: Yeah, yeah.
• 4:18
  SPEAKER_03: I mean, uh, first is the Business Leader of the Year Award.
• 4:22
  SPEAKER_03: That's recognizing an individual demonstrating outstanding leadership, innovation, and success, and someone whose work is making a positive impact on the business community and local community.
• 4:36
  SPEAKER_00: Yes, and then we have Small Business of the Year.
• 4:39
  SPEAKER_00: And you know, small businesses make up over 90% of the businesses in the United States, the backbone of the American economy.
• 4:49
  SPEAKER_03: Amen.
• 4:50
  SPEAKER_03: Amen.
• 4:50
  SPEAKER_03: And really, you know, we talk about that statistic, the group, you know, that's really about growth and resilience.
• 4:57
  SPEAKER_03: Um, entrepreneur, the entrepreneur spirit, innovation, customer service is something that we we can't let go of.
• 5:05
  SPEAKER_03: It's it's one of those things that is important in every industry that you're in, uh, and involvement in the community, right?
• 5:13
  SPEAKER_03: Yes.
• 5:13
  SPEAKER_03: Um, I often say you don't have business without community, and you don't have community without business.
• 5:19
  SPEAKER_00: 100%.
• 5:20
  SPEAKER_00: And then there's one I think people may not immediately understand from the name Economic Transformation Team of the Year.
• 5:29
  SPEAKER_00: So what are we looking for there, Alex, in that category?
• 5:33
  SPEAKER_03: Yeah, so that actually, that's one award that we created in 2024.
• 5:38
  SPEAKER_03: Um, and that was a group of leaders and business leaders and economic developers, um, elected officials who had helped bring in a major project.
• 5:49
  SPEAKER_03: And at the time it was the FBI.
• 5:51
  SPEAKER_02: Right.
• 5:52
  SPEAKER_03: So we had just got the great dues and um wanted to honor some amazing people, um, uh Congressman Stenny Warrior at the time, former commissary now, retired Congressman Stenny Warrior, uh Senator Angel Also Brooks, um, to just to name a few, Governor Westmore, um, and many, many more who had helped to really bring and make this decision, uh, decision.
• 6:15
  SPEAKER_03: And shortly after it had to go through some ebbs and flows, and now it's back.
• 6:19
  SPEAKER_03: And so we think about uh economic uh transformation team, it is it is a group of collective leaders and or agency leaders or agencies that work together for the common good of a region andor county or municipality.
• 6:37
  SPEAKER_03: And so it's again, it's bringing, you know, the FBI, it's bringing the sphere, it's bringing, right, six flags and whatever that development's gonna be, right?
• 6:48
  SPEAKER_03: And it's bringing the blue line corridor and all of the beautiful things that are getting ready to come with those um developments.
• 6:55
  SPEAKER_03: And so it's exciting to see we have a pipeline of business in the county that is um that I think is very fruitful and has needs to push that it needs, and it's gonna happen with a collective effort of leadership.
• 7:08
  SPEAKER_00: Yes, and I love that this one recognizes a team because economic transformation rarely happens in a bubble.
• 7:16
  SPEAKER_00: You have to work with other people.
• 7:18
  SPEAKER_00: And so then we have emerging business of the year.
• 7:22
  SPEAKER_03: Yeah, yeah.
• 7:23
  SPEAKER_03: Uh, and that that recognized, that's gonna be a tough one, I think, because we have a lot of businesses that are on the front forefront of innovation in some form or fashion.
• 7:34
  SPEAKER_03: Um they practice sustainability and they they implement advanced technology solutions.
• 7:40
  SPEAKER_03: And so, you know, when you think about that, you think traditionally, okay, maybe it's technology-based.
• 7:45
  SPEAKER_03: But what if it's not?
• 7:46
  SPEAKER_03: What if it's uh an innovative way to deliver a good or service that maybe that's not being done in any other competitive space?
• 7:54
  SPEAKER_03: Um, if we think about our food manufacturers, how you deliver, how you create and package food is really an innovative kind of manufacturing um technique.
• 8:07
  SPEAKER_00: So then we have the Community Impact and Corporate Citizenship Award, which recognizes a nonprofit demonstrating meaningful community impact through service, partnerships, philanthropy, and engagement.
• 8:21
  SPEAKER_00: And then, Alex, there is a new one that I am really excited about.
• 8:26
  SPEAKER_03: Yes, yes, yes.
• 8:27
  SPEAKER_03: Uh there's uh this year we're introducing the People's Choice Award, uh, which I think I think the everyone was excited about it because it will just give us um a little bit more bandwidth and uh depth to our um award categories.
• 8:44
  SPEAKER_00: Yeah.
• 8:45
  SPEAKER_03: And um, yeah, I'm excited.
• 8:47
  SPEAKER_03: I'm excited.
• 8:48
  SPEAKER_00: Yes, and this one it's exactly as it says the people get a say.
• 8:54
  SPEAKER_00: It is the people's choice, and the community gets a say.
• 8:58
  SPEAKER_00: And so we will actually be doing live voting day of to finalize who the winner is gonna be.
• 9:06
  SPEAKER_00: And so, guys, I'm so excited.
• 9:08
  SPEAKER_00: We have not announced the winners yet, but stay tuned.
• 9:12
  SPEAKER_00: You know, make sure you're following the chamber on social media so you can see who all the recipients are in these awards, and then you also see who the People's Choice Awards nominations are going to.
• 9:27
  SPEAKER_00: And then you can help us pick day of the winner of the People's Choice Awards.
• 9:32
  SPEAKER_00: And all of that is gonna be explained over the next two weeks.
• 9:36
  SPEAKER_03: Love it.
• 9:36
  SPEAKER_03: I love it.
• 9:37
  SPEAKER_03: Um, yeah, I mean, you know, from there, it's it's uh it's just gonna be one of those things where I I just I just you gotta be in the room, right?
• 9:47
  SPEAKER_03: Like you just have to be there to see.
• 9:49
  SPEAKER_03: And I'm I'm also very curious to know who the people are gonna pick.
• 9:53
  SPEAKER_00: Yes.
• 9:54
  SPEAKER_00: Listen, I should have been on that list, y'all.
• 10:01
  SPEAKER_00: But again, the the 2026 Excellence in Business Awards Gala is happening Saturday, October 3rd.
• 10:08
  SPEAKER_00: It's gonna be at MGM National Harbor.
• 10:11
  SPEAKER_00: And we still have a few tickets left if you're interested in coming.
• 10:14
  SPEAKER_00: So make sure you get your tickets before they sell out.
• 10:17
  SPEAKER_00: That's right.
• 10:18
  SPEAKER_03: It's limited.
• 10:20
  SPEAKER_00: Listen, don't call me, don't email me.
• 10:22
  SPEAKER_00: Once this sold out, that is it.
• 10:24
  SPEAKER_03: Yes it.
• 10:26
  SPEAKER_03: Yeah, I mean, we I think we talked about it today.
• 10:29
  SPEAKER_03: We uh we really do not have a lot of tickets left.
• 10:32
  SPEAKER_03: Um and it seems like they are growing by the minute.
• 10:36
  SPEAKER_03: So, you know, I second that.
• 10:38
  SPEAKER_03: Um, you know, want to see you in the room, and we're gonna make room, but get your tickets early.
• 10:46
  SPEAKER_03: Get your tickets early, for sure.
• 10:48
  SPEAKER_00: And so, Alex, let's shift gears uh uh a bit because I came across some business data this week that actually connects the dots to where we're going later in the show.
• 10:58
  SPEAKER_00: And business owners, they're not necessarily feeling pessimistic right now, but they are feeling uncertain.
• 11:07
  SPEAKER_03: Uncertainty is a thing.
• 11:09
  SPEAKER_03: It's a thing.
• 11:11
  SPEAKER_03: And for rightfully so.
• 11:13
  SPEAKER_03: You know, rightfully so.
• 11:14
  SPEAKER_03: Um but but talk to me about the data.
• 11:17
  SPEAKER_03: What what um what did you find?
• 11:21
  SPEAKER_00: So every month, the National Federation of Independent Business, that's an organization that represents small and independent businesses, they survey business owners about what they're seeing and how they're feeling about the economy.
• 11:36
  SPEAKER_00: And so the latest numbers, um, let's see, to put some numbers behind it, their measure of small business uncertainty came in at 89 in August.
• 11:47
  SPEAKER_00: And historically, the average is 68.
• 11:52
  SPEAKER_00: So this isn't just something we're imagining business owners are reporting a higher level of uncertainty than usual.
• 12:01
  SPEAKER_00: And so when you're operating in that kind of environment, what should folks actually be looking at to help them make a decision?
• 12:11
  SPEAKER_03: Well, I I would say number one, the data, right?
• 12:14
  SPEAKER_03: Uh data is important.
• 12:16
  SPEAKER_03: Um one of the things that that I learned early in my my entrepreneurial career is to follow the data tra the data trails because the numbers essentially don't lie, right?
• 12:29
  SPEAKER_02: Yeah.
• 12:30
  SPEAKER_03: Um, you know, the the CEO sentiment around the globe um is is I think leaning toward, you know, geopolitical uncertainty, and decisions are more um based on, you know, hunkering down and it was scarcity, so to speak, right?
• 12:48
  SPEAKER_03: Like you want to make sure you can navigate certain things, but on the local level, uncertainty can be legislation that moves forward or doesn't move forward.
• 12:58
  SPEAKER_03: It can be decisions that don't get made um to move projects forward, right?
• 13:05
  SPEAKER_03: Um, or in decision of projects to move forward.
• 13:08
  SPEAKER_03: We could talk about, you know, things that happened more than recently.
• 13:11
  SPEAKER_03: Um but, you know, to really think about how to navigate uncertainty, one, you have to know the data.
• 13:18
  SPEAKER_03: You got to know where you are in the economic cycle.
• 13:20
  SPEAKER_03: You do not have to know how certain things out of your beyond your control impact the industry you're in.
• 13:27
  SPEAKER_03: When you have systems and process in place, they are designed not to be um uh um a permanent guide, but a very fluent guide.
• 13:38
  SPEAKER_03: And your your SOPs should adapt and adjust as you need them to.
• 13:42
  SPEAKER_03: And so when you when you have that guide in place and you know your method of operation, um, it's very easy to tweak things versus uh create them from scratch or try to figure it out or build the plane in the air.
• 13:56
  SPEAKER_03: And so I always go back to, you know, if you've gone through a couple of economic cycles, you documented it, you can always go back to the blueprint and say, hey, here's the thing we did to get past this moment.
• 14:09
  SPEAKER_03: Now, it may not be the exact same moment, but we have a framework and then we tweak it because it could be a general global recession, it could be COVID, it could be the emergence of AI, it could be we're going to war.
• 14:24
  SPEAKER_03: It could be all these things where you say, hey, here's how we're gonna pivot and navigate and use our resources to then sustain.
• 14:31
  SPEAKER_03: The other thing I would say is important that we probably don't think about a lot is what is the core value system of your organization?
• 14:39
  SPEAKER_03: Not SOPs, but the core value system.
• 14:43
  SPEAKER_03: Now, here's something that I have seen in history is that there are companies that are still around because they stuck to the core values.
• 14:50
  SPEAKER_03: Not that they had all the answers.
• 14:52
  SPEAKER_02: Yeah.
• 14:52
  SPEAKER_03: They didn't sell to everyone.
• 14:54
  SPEAKER_03: They stuck to the core values.
• 14:55
  SPEAKER_03: They had a certain client.
• 14:57
  SPEAKER_03: They they made a specific a specific product or service that, you know, they were able to see kind of some of the see through some of the downturn, but they stuck to it and they became innovative.
• 15:09
  SPEAKER_03: Um, but also they adopted some of those and added core values to extend to the new or next wave of the company.
• 15:18
  SPEAKER_03: But they never, they never deferred away from having a core value system that everyone from top to bottom it really lives and breathes in the organization.
• 15:28
  SPEAKER_03: Because at the end of the day, we talk about economic transformation, right?
• 15:32
  SPEAKER_03: If you're the economic transformation team of the year and you have one of those members who is not seeing the same end goal as the other members, you don't make it happen.
• 15:43
  SPEAKER_02: Yeah.
• 15:44
  SPEAKER_03: Right?
• 15:44
  SPEAKER_03: So even in the downtime, you got to be seeing the horizon and you got to have your grit and you got to be focused, and you got to make sure, like, no matter what, we're gonna get this done.
• 15:53
  SPEAKER_03: And so I think that core value system helps a lot of small businesses see through the fog uh because it's not easy.
• 16:01
  SPEAKER_03: It is not going, it's not easy at all because you got a lot of hats, or you got more hats to wear, and the uncertainty of large corporations, mid-sized corporations, and small corporations alike is something that we have to pay attention to.
• 16:16
  SPEAKER_03: But at the end of the day, the ones that survive, we also gotta pay attention to the ones who have a long history of surviving uncertainty, right?
• 16:27
  SPEAKER_03: And follow that blueprint.
• 16:29
  SPEAKER_03: Follow the big boat, don't become the big boat, follow the big boat.
• 16:33
  SPEAKER_00: No, I love that.
• 16:35
  SPEAKER_00: And you know, um, I recently was listening to um Indeed Future Works, their conference.
• 16:42
  SPEAKER_00: And first and foremost, that conference was so very well done because they had in-person and they have virtual.
• 16:50
  SPEAKER_00: And so I did the virtual option, and a lot of times virtual cannot hold my attention because you know, you have all these other distractions.
• 16:58
  SPEAKER_00: You can check your email.
• 17:00
  SPEAKER_00: Anyhow, um one of the panelists, well, one of the keynote discussions was um the new CEO for Red Lobster.
• 17:11
  SPEAKER_00: And yeah, and I can't remember his name, but you know, he was talking about um, I think he's been in the position for just over two years now.
• 17:20
  SPEAKER_00: And so he was talking about the work that they're doing to bring Red Lobster back out of the red into the black.
• 17:28
  SPEAKER_00: And so I'm just excited to see um what they're doing there.
• 17:32
  SPEAKER_00: But you know, when we're talking about data and information, there's another side to that too, because we have access to more information and data than we have ever, ever had.
• 17:45
  SPEAKER_03: Absolutely.
• 17:46
  SPEAKER_00: And at some point, you know, looking at all that information, it can feel overwhelming, it can be too much, and then that can become a problem as well.
• 17:56
  SPEAKER_00: So such a bit on some analysis analysis paralysis, because I promise you, your girl be having that issue.
• 18:08
  SPEAKER_03: You and me both, bro.
• 18:09
  SPEAKER_03: I mean, I listen, um I have I have definitely sat on a few decisions a little bit too long.
• 18:17
  SPEAKER_03: Um in every form of facet, right?
• 18:20
  SPEAKER_03: I've sat on deal execution that, you know, we should have, you know, made in a three-month process that took nine months, and then we didn't end up anywhere, right?
• 18:31
  SPEAKER_03: Um we could think about um, you know, even with hiring or firing or pivoting and signing contracts, right?
• 18:38
  SPEAKER_03: Like those are the things that can cost a business if you're indecisive for too long.
• 18:47
  SPEAKER_03: Um one of the things about business that I think is always mysterious is you never really know the end result.
• 18:54
  SPEAKER_00: Yes.
• 18:55
  SPEAKER_03: You never know.
• 18:56
  SPEAKER_03: I mean, it may look like it.
• 18:57
  SPEAKER_03: You may drive the fancy car and have the accolades and it's great, but you don't know the end result.
• 19:04
  SPEAKER_03: Because you would you the thing you should do the most is try to reduce and minimize your risk as much as you can, but nobody has the answers.
• 19:13
  SPEAKER_03: Because in an in a moment's notice, an election or a decision can change your entire makeup of your business if you're not prepared.
• 19:20
  SPEAKER_03: And we've seen that recently, right?
• 19:23
  SPEAKER_03: But I I would say, you know, one of the things that is um critical in any any thought process, right?
• 19:33
  SPEAKER_03: Um, at least in my experience, is if you know that you need to move forward, you need to go.
• 19:40
  SPEAKER_02: Yeah.
• 19:41
  SPEAKER_03: Don't wait.
• 19:42
  SPEAKER_03: Go.
• 19:43
  SPEAKER_03: Because guess what?
• 19:44
  SPEAKER_03: You don't know any more right now than you're gonna know back then, you know, gonna know when you go forward.
• 19:48
  SPEAKER_03: So might as well go forward because at least you'll pick up some information on the way, right?
• 19:53
  SPEAKER_03: But the more you stall and wait for the right moment, it will never be a right moment.
• 19:56
  SPEAKER_03: You gotta go.
• 19:58
  SPEAKER_00: Yes, and and no decision is also a decision, guys.
• 20:01
  SPEAKER_03: No decision is a decision.
• 20:03
  SPEAKER_03: And well that but that also leads to another point where if you are not sure of the decision, then that may be the best reason to close the chapter.
• 20:18
  SPEAKER_02: Right?
• 20:19
  SPEAKER_03: If you're not sure of what steps you need to make, because time is money uh in a lot of cases.
• 20:25
  SPEAKER_03: If you're not exactly sure of whether you should go left or right um in a in a business deal or or a situation or scenario that may not uh you may not be too clear on will benefit you, then the best thing is not to do anything at all.
• 20:42
  SPEAKER_03: Right?
• 20:42
  SPEAKER_03: Don't wait, but close the door and move on to something that you know you're sure about that you can put your energy and resources into and it can generate a return.
• 20:51
  SPEAKER_03: And I say that because um uh a couple of years ago, partners and I tried to buy a business and um thought it was a really good business.
• 21:02
  SPEAKER_03: And we sat when I say we sat on this deal, we sat on the deal.
• 21:07
  SPEAKER_03: And um we sat on the deal because there was still some ambiguity of information.
• 21:15
  SPEAKER_03: Um we were really thinking it was a good opportunity, and so we waited to get information.
• 21:21
  SPEAKER_03: We, you know, tried to keep it entertained and keep the keep the relationship warm, ultimately get to a place where um we made an offer and um there was still a small nuance that we needed to we needed to overcome.
• 21:37
  SPEAKER_03: And the deal fell apart for this very, very small nuance.
• 21:40
  SPEAKER_03: Now, mind you, we had talked to the lenders and we were trying to get surface information and we're trying to get past the first barrier.
• 21:48
  SPEAKER_03: When in reality, and and one of the partners said it, he was like, Yeah, it's still no, we need to let it go.
• 21:54
  SPEAKER_03: He said it three months, he said it in the third month.
• 21:57
  SPEAKER_03: And I'm like, no, no, let's push forward.
• 22:00
  SPEAKER_03: Right.
• 22:00
  SPEAKER_03: And another partner, we voted and we, you know, we had a two to one vote, so we kept going.
• 22:05
  SPEAKER_03: But the reality is, third month in, it's either gonna work or it's not.
• 22:10
  SPEAKER_03: Move on to next year.
• 22:11
  SPEAKER_00: Yeah, yeah.
• 22:12
  SPEAKER_00: And you know, you bring up a really good point because sometimes when we're saying in decision, we don't actually know what that looks like, right?
• 22:22
  SPEAKER_00: We think of it as one way, but it can look several different ways.
• 22:27
  SPEAKER_00: You can think about somebody sitting at their desk saying that they don't know what to do, or sometimes it can look like a productive person.
• 22:35
  SPEAKER_00: They're doing research, they're like you said, you had meetings with bankers, you know, you're having all these meetings and you're asking people what they think, you're running the numbers.
• 22:46
  SPEAKER_00: So, how do you know when you're actually doing your due diligence versus avoiding making a decision?
• 22:53
  SPEAKER_00: Because it sounds like you had some of that going on with your business partners in that deal.
• 22:59
  SPEAKER_03: Oh, yeah, definitely.
• 23:00
  SPEAKER_03: Yeah, we we were definitely, um, I think my motivation was I was very eager to get a deal done, right?
• 23:08
  SPEAKER_03: I think for some of my partners, it was I don't want to do the wrong deal.
• 23:14
  SPEAKER_02: Uh-huh.
• 23:14
  SPEAKER_02: Right.
• 23:15
  SPEAKER_03: And so what what I think um probably happened is again to the point we were we were filling space.
• 23:25
  SPEAKER_03: We've we were filling the gap space with having conversations, right?
• 23:30
  SPEAKER_03: And bringing in lenders to be prepared for when the information that we needed would come through, that we would then move to the next level.
• 23:38
  SPEAKER_03: And in reality, we still should have had the conversations with with the lenders, but we probably should have been thinking about two or three other opportunities that would have filled in our gap space that probably would have challenged our initial observation.
• 23:53
  SPEAKER_02: Right.
• 23:54
  SPEAKER_03: So if we had spent the same energy on the uh that we spent on the first deal on two or three other deals, we probably wouldn't wouldn't have moved forward with the other deal in the first place.
• 24:05
  SPEAKER_03: Because there's there's going to be other competing priorities and and other opportunities and more flexibility around uh the acquisition because there's certain every seller has their own terms, right?
• 24:16
  SPEAKER_03: Yeah.
• 24:17
  SPEAKER_03: So not everyone wants the same thing.
• 24:19
  SPEAKER_03: It's different motivations, it's different opportunities to work.
• 24:21
  SPEAKER_03: Um, but I think that was a moment of indecision because we we weren't necessarily we had questions and we but we didn't want to close the chapter because it did it's the what if, right?
• 24:33
  SPEAKER_02: Yeah.
• 24:34
  SPEAKER_03: Um and we could have, we could have gone in um very easily and increased the value of this company.
• 24:41
  SPEAKER_03: Uh we had a solid plan.
• 24:43
  SPEAKER_03: We knew what steps we wanted to take.
• 24:45
  SPEAKER_03: We look at the financial, see, okay, we do this, we do this, we do that.
• 24:48
  SPEAKER_03: Um, we're good to go.
• 24:50
  SPEAKER_03: And the other thing that happened was right around that same time, there were some changes in terms of some of the CBE certifications in other states.
• 25:00
  SPEAKER_03: Like Virginia had a the MDOT, had a CD, a CBE decertification or recertification ruling that came out of nowhere.
• 25:07
  SPEAKER_03: That impacted.
• 25:08
  SPEAKER_03: That impacted our decision, right?
• 25:11
  SPEAKER_03: That impacted whether how fast we want to move, we're watching things, we're paying attention.
• 25:15
  SPEAKER_03: Um there was some comps and communications around other legislations in the Southeast that we were watching.
• 25:22
  SPEAKER_03: And so, you know, all of that uncertainty unraveled as we went on.
• 25:29
  SPEAKER_03: But we really knew it in the third month.
• 25:31
  SPEAKER_03: Like, no, too many challenges, too many red flags, too many questions, not a good time, right?
• 25:37
  SPEAKER_03: Let's revisit it maybe in a year or two and look at another deal, look at the opportunity.
• 25:42
  SPEAKER_00: Now, you know, sometimes that hesitation can be healthy.
• 25:47
  SPEAKER_00: And I know a huge conversation that's happening right now is around um CRA and those changing guidelines and rules and what can happen and what can't happen.
• 26:00
  SPEAKER_00: And um, if you remember, a few weeks back I had talked about the Black and Latino uh business economics summit, and that was a huge discussion over the three days um from the different bankers.
• 26:16
  SPEAKER_00: But what I do remember from one of the DMV bankers, he was like, look, we've been here before, we were we got through it then, and we're gonna get through it again.
• 26:28
  SPEAKER_00: That's right.
• 26:29
  SPEAKER_00: Oh, it is real.
• 26:30
  SPEAKER_03: That's real.
• 26:31
  SPEAKER_03: It's absolutely true.
• 26:33
  SPEAKER_03: Absolutely true.
• 26:35
  SPEAKER_00: And so when you're talking about, you know, weighing these changing guidelines or things like that that are going to impact a decision, how do you know when you have enough information to make the move?
• 26:51
  SPEAKER_00: Because it sounds like, you know, I know you're saying that the hesitation kind of held up your deal and then it fell through, but it's also sounding like you were seeing some signs that it probably wasn't even a good deal, anyways.
• 27:06
  SPEAKER_00: Like the time piece of it wasn't the only factor that made it not a good deal.
• 27:12
  SPEAKER_00: And so how do you know when it's like, okay, now I have enough information, it might not be all the answers.
• 27:19
  SPEAKER_00: How do you determine that?
• 27:21
  SPEAKER_03: Yeah, I so, and to that point, right?
• 27:23
  SPEAKER_03: I think one of the things that I I ignored and we ignored was the hesitation of getting information.
• 27:32
  SPEAKER_03: So there's a we have uh when you when you're looking to to buy a company, there are in this case we were trying to buy a company.
• 27:39
  SPEAKER_03: Um, but there's checkpoints.
• 27:41
  SPEAKER_03: And so a lot of the checkpoints you can get very easily, right?
• 27:45
  SPEAKER_03: Because you get asked for your your documents and checkpoints.
• 27:49
  SPEAKER_03: And so we we presented what was asked, but we didn't get back what was required.
• 27:56
  SPEAKER_03: And that right there was a number one indicator.
• 27:59
  SPEAKER_03: And so had conversations, and I think if I go back to the system, right?
• 28:06
  SPEAKER_03: We I think we we deviated from the system or we waited in the system too long, where there's a timeline.
• 28:13
  SPEAKER_03: Hey, we engage, right?
• 28:15
  SPEAKER_03: We build rapport, we have the conversation.
• 28:18
  SPEAKER_03: If there's mutual interest to move forward, we'll present what we need, what we need to present, which is our letter of interest or letter of intent with our financial statements, who we are.
• 28:28
  SPEAKER_03: And then we're we're also vetting a company to see, okay, does it fit the mold?
• 28:33
  SPEAKER_03: If it checks off, yes, let's have another meeting and then ask questions about certain things.
• 28:38
  SPEAKER_03: If it does not, put it to the shelf, move to the next one.
• 28:42
  SPEAKER_03: And it's got to be automatic like that.
• 28:43
  SPEAKER_03: This now, this is in deal origination.
• 28:46
  SPEAKER_03: Because a lot of a lot of um of the more sophisticated shops, that's how they move.
• 28:52
  SPEAKER_03: It's very check, check, check.
• 28:54
  SPEAKER_03: This works, no, it doesn't work.
• 28:56
  SPEAKER_03: All right, great.
• 28:57
  SPEAKER_03: We're moving to the next one.
• 28:58
  SPEAKER_03: And we're not waiting because you do have to sort through quite a few, and time is money.
• 29:03
  SPEAKER_03: And so I think that was that was part of it is hesitation to receive data that's necessary.
• 29:10
  SPEAKER_02: Right?
• 29:10
  SPEAKER_03: It and it and and it can you can it can be implied in a lot of different ways, but that is a to me an indication of okay, maybe something's not clicking.
• 29:20
  SPEAKER_03: Um and if it's not clicking, you can wait or you can move to something that might be more aligned.
• 29:26
  SPEAKER_03: Um, the other thing is having a singular focus on one opportunity versus having a system to vet and filter multiple opportunities into one opportunity, into the best opportunity.
• 29:38
  SPEAKER_01: Yeah.
• 29:38
  SPEAKER_01: Right.
• 29:39
  SPEAKER_03: And so that's why I go back to where we spent a little bit extra time on this one deal because I think there was some personal relationship there.
• 29:45
  SPEAKER_03: Like we got a chance to know the owners and good story, and you know, it was great.
• 29:50
  SPEAKER_03: But we should have been thinking about five other companies and say, okay, which one stands out?
• 29:55
  SPEAKER_03: Which are the two or three that stand out the best?
• 29:58
  SPEAKER_03: Process of elimination.
• 29:59
  SPEAKER_03: Now out of those three that we are now in, let's get it to the top, to the number one spot.
• 30:03
  SPEAKER_03: And then if we do that over and over again, now we have, you know, three or four of the best grades, graded companies that we want to move forward on, and now we can spend the energy to then get them over the finish line.
• 30:16
  SPEAKER_03: Um and so I think speed to some extent is is um success like speed, is what they say.
• 30:23
  SPEAKER_03: Right.
• 30:23
  SPEAKER_00: And so it's right.
• 30:25
  SPEAKER_03: Yeah, I mean, you know, you don't want to spend a lot of money fast, right?
• 30:30
  SPEAKER_03: But you want to you want to use data and have data-driven uh this uh data-driven decisions um that will help you quickly make decisions of which way to go.
• 30:42
  SPEAKER_03: I think how you receive information, if there's a reluctance to receive information from the other party, that's a good sign.
• 30:49
  SPEAKER_03: Well, that's not a good sign, that's a sign that you have to consider.
• 30:52
  SPEAKER_03: Um I think if there's a if there's alignment or misalignment, again, you sometimes you can't um, you know, make things fit.
• 31:01
  SPEAKER_03: If your core values are one thing, and then the the opportunity has a different set of core values, it's hard sometimes to make those mesh, right?
• 31:11
  SPEAKER_03: And core values can be, you know, business owner to client.
• 31:15
  SPEAKER_03: It can be business owner to business owner.
• 31:17
  SPEAKER_03: If there's joint venture or partnership, it can be, you know, um, you know, maybe business to another business you're trying to sell or buy or whatever that client relationship is.
• 31:29
  SPEAKER_03: Um, but if there's not mutual alignment to move forward, that's another indicator.
• 31:34
  SPEAKER_00: Right.
• 31:35
  SPEAKER_03: Um to know, like, okay, there there may be, there may not be, this might not be the opportune time.
• 31:41
  SPEAKER_03: And you gotta make that decision quick and move on and stick to it.
• 31:45
  SPEAKER_00: Mm-hmm.
• 31:46
  SPEAKER_00: And so to that point, you know, we're talking about making quick decisions, fail fast.
• 31:53
  SPEAKER_00: Um, and there is an actual cost to waiting.
• 31:57
  SPEAKER_00: And I don't know if you've ever heard of the slowness tax, but it's something that I found while preparing for our conversation today.
• 32:07
  SPEAKER_00: And there's some research, some new research that's trying to put a number on what slow decision making costs businesses.
• 32:16
  SPEAKER_00: So West Monroe surveyed more than 1,200 business leaders and found they estimate their organizations lose up to 5% of annual revenue simply because decisions and execution move too slowly.
• 32:32
  SPEAKER_00: And so that's what they're calling the slowness tax.
• 32:35
  SPEAKER_00: And so they're talking about it showing up in things like missed opportunities, stall projects, and being slower to respond to customers or competitors.
• 32:45
  SPEAKER_00: So when you say there's a cost of indecision, you know, what are some of the costs that may not immediately show up on a PL?
• 32:56
  SPEAKER_03: Yeah, that's a oh, that's a good one.
• 32:58
  SPEAKER_03: Let me tell you.
• 32:59
  SPEAKER_03: Um one, I think, I think you can have um what they I what they call mission creep, right?
• 33:08
  SPEAKER_03: Um where if if we're saying, hey, we we are slow to respond, okay, um, one, you will filter out customers who want to do business with you because they may need to make a decision and they may end up going with another competitor.
• 33:27
  SPEAKER_03: Um I think we talk about cost, right?
• 33:30
  SPEAKER_03: We're in a we're in a market where inflationary costs happen all the time.
• 33:35
  SPEAKER_03: So what it costs you today is not what it's gonna cost you tomorrow.
• 33:39
  SPEAKER_03: And so, right, we're taking it, we're taking our time on a decision, and then next thing you know, an interest rate hikes happen, happen, which just happened, and then you go back and you're ready to execute an opportunity and it costs a little bit more, which eats into your budget and eats into opportunities for you to expand your dollar.
• 33:58
  SPEAKER_03: But I also think too, like the the biggest thing, the biggest thing is when you sit on opportunities, it loses its sizzle in some cases, right?
• 34:09
  SPEAKER_03: Now, I understand if it's in its research and development phase, right?
• 34:12
  SPEAKER_03: I'm developing a new iPhone, right?
• 34:15
  SPEAKER_03: The iPhone 2030, right?
• 34:19
  SPEAKER_03: And right now we're on the iPhone, I think, 17 or 18.
• 34:22
  SPEAKER_03: I don't know.
• 34:22
  SPEAKER_03: You got your iPhone users like 18 versions of the iPhone or something like that.
• 34:26
  SPEAKER_02: Yeah.
• 34:26
  SPEAKER_03: And so the the the iPhone 30 is sitting on the shelf because it's being perfected.
• 34:33
  SPEAKER_03: And when so when the when the uh economy catches up with the with the new innovation, right?
• 34:39
  SPEAKER_03: That's different than, hey, we are we are looking to make this decision.
• 34:45
  SPEAKER_03: Um we want to do business with this, let's say, municipality or this organization, but we are just uh not really together in terms of making it.
• 34:56
  SPEAKER_03: Uh and next thing you know, that organization says, okay, well, this other state or city or customer is ready.
• 35:06
  SPEAKER_03: So we're ready.
• 35:08
  SPEAKER_02: And next thing you know, you're not ready.
• 35:11
  SPEAKER_03: And and you know, you're you're 70, 80% ready to make the decision, but yet you don't pull the trigger.
• 35:19
  SPEAKER_03: Um, and so then you end up with 80% of zero.
• 35:23
  SPEAKER_00: Exactly.
• 35:24
  SPEAKER_00: Exactly.
• 35:25
  SPEAKER_00: And, you know, just like you're saying, the opportunity moves on while you're still trying to decide whether you want it or not.
• 35:33
  SPEAKER_00: Yeah.
• 35:34
  SPEAKER_00: It's okay, waiting too long actually become riskier than making the wrong decision.
• 35:40
  SPEAKER_03: You ever had this, you ever had this saying or you ever experience this where you like, you had this idea and you're thinking about it, and you're like, yeah, you might even be, you know, mapping it out, and then you see somebody do it, and you're like, that was that that's that's it right there.
• 36:00
  SPEAKER_03: That was your idea.
• 36:01
  SPEAKER_03: That was your opportunity.
• 36:02
  SPEAKER_03: And what we do is we'll we'll we'll kind of just, you know, uh become infatuated with it, but not execute it.
• 36:10
  SPEAKER_00: No exactly.
• 36:11
  SPEAKER_03: We'll come up with all the ideas and all the reasons why we can't do it, and somebody don't that doesn't know it as well as you know it is just doing it.
• 36:21
  SPEAKER_03: Right?
• 36:22
  SPEAKER_03: They just they like, look, I don't know all the answers, but I'm I'm moving forward.
• 36:26
  SPEAKER_00: You know.
• 36:27
  SPEAKER_00: No, go ahead.
• 36:28
  SPEAKER_03: No, I was gonna say, and next thing you know, they're on Forbes and you read about them.
• 36:33
  SPEAKER_00: Yes, exactly.
• 36:34
  SPEAKER_00: And so, you know, to make it a little personal, when I started the Spotlight DMV, you know, I'm not, I'm not an in front of the camera kind of person.
• 36:49
  SPEAKER_00: I'm not the, you know, I just critique myself very, very heavily in how I speak and things like that.
• 36:57
  SPEAKER_00: And so it was very difficult for me to like I would go and cover things and then I wouldn't put the story out because I'm like, oh, I don't like how I said that.
• 37:07
  SPEAKER_00: And, you know, me in the meantime, I see all these other creators, they're just getting through it and they're doing it, whether it's good or bad.
• 37:14
  SPEAKER_00: They put it out there, and then the next day they get better, they're getting better.
• 37:19
  SPEAKER_00: Because I feel like that's the piece of what you miss out on, right?
• 37:23
  SPEAKER_00: Whether even if you didn't make the right decision, you're still getting some information about what you're putting out there.
• 37:31
  SPEAKER_00: And then you can make the pivot to say, okay, it didn't work that way, but now I could do it this way, or you're you're gaining that experience that again is continuing to move you forward.
• 37:44
  SPEAKER_00: You're not just sitting there wondering, well, can I do it?
• 37:47
  SPEAKER_00: Can I do it?
• 37:48
  SPEAKER_00: You're doing it and you're making the changes as you go along.
• 37:52
  SPEAKER_00: And so, Alex, you know me.
• 37:53
  SPEAKER_00: I like to ask a lot of questions.
• 37:55
  SPEAKER_00: And I just saw this, I just saw this thing.
• 37:57
  SPEAKER_00: It was like, yeah, I could go with the flow as long as I know where the flow is going, what time it's going, when it's gonna be there.
• 38:06
  SPEAKER_00: If I have all of that, I could go with the flow.
• 38:08
  SPEAKER_00: And I was cracking up.
• 38:10
  SPEAKER_00: I was like, that's me.
• 38:12
  SPEAKER_03: Yeah, I mean, listen, I I I have really learned, you know, going with the flow to that point.
• 38:20
  SPEAKER_03: Going with the flow leads you to your next clue, but you also have to know that you need to find the clue.
• 38:26
  SPEAKER_00: Yes.
• 38:27
  SPEAKER_03: Right?
• 38:27
  SPEAKER_03: You have to be open.
• 38:28
  SPEAKER_03: What you're saying is I am open to however the universe delivers the clue.
• 38:35
  SPEAKER_03: I don't have the best answer, but I'm open to discovering it.
• 38:40
  SPEAKER_03: But what you're saying, but you also know is I need to find that clue.
• 38:44
  SPEAKER_03: I'm open to how that clue may look.
• 38:46
  SPEAKER_03: It may not look like the way I thought it was gonna look, right?
• 38:48
  SPEAKER_03: And it may not come the way I thought it was, but it's gonna be there.
• 38:51
  SPEAKER_03: And I know I need it, and I'm searching for something that's gonna help me get to the next level.
• 38:55
  SPEAKER_00: Yeah.
• 38:56
  SPEAKER_03: But I just don't know what it looks like just yet, right?
• 38:59
  SPEAKER_03: And you're being open and fluid and to your point, being able to fail forward, right?
• 39:05
  SPEAKER_03: That is something I don't know if we talk about enough because in our community we can't afford to do it.
• 39:12
  SPEAKER_01: Right?
• 39:13
  SPEAKER_03: Failing has a cost to it, but it's necessary for development.
• 39:17
  SPEAKER_03: And when I think about, I'll go back to the iPhone.
• 39:20
  SPEAKER_03: How many times did they fail on that product before you saw our phone one, right?
• 39:25
  SPEAKER_03: And the iPods and the i and and the uh tablets and all the things that are just like, you know, consumer demand right now, but there is a lot of trial and error, I'm pretty sure.
• 39:37
  SPEAKER_03: You think about these businesses that have been around for over a century, and you look, and I bet you if you went to the archive, they have documented every single failure and how they overcome it and improve process so they don't repeat it.
• 39:49
  SPEAKER_03: And that's what I'm saying, it's the evolution, right?
• 39:52
  SPEAKER_03: Um, no company does anything perfectly.
• 39:55
  SPEAKER_00: No, I I agree.
• 39:57
  SPEAKER_00: And like even if you take some of the personal decisions that you make, because I know right now, as we talk about things like interest rates and whatnot, and a lot of people are not looking at buying property or land, and the piece that they always talk about is the interest rate.
• 40:18
  SPEAKER_00: I'm just like, well, that's that's only a piece of the puzzle.
• 40:23
  SPEAKER_00: That's only a piece of what you use to gauge whether this is something for you or not for you.
• 40:31
  SPEAKER_00: But it's kind of funny because I've been talking to a family member that wants to buy a second property and they're nervous about it because, you know, what if my what if uh the house that I have doesn't rent?
• 40:43
  SPEAKER_00: And or what if I can't afford it?
• 40:45
  SPEAKER_00: And I was like, okay, what if?
• 40:47
  SPEAKER_00: Then you lose, you'll lose one of the houses and you still have another one to live in.
• 40:51
  SPEAKER_03: What they what if you do get a renter?
• 40:53
  SPEAKER_00: What if you do?
• 40:54
  SPEAKER_00: Exactly.
• 40:55
  SPEAKER_00: And that's the other piece too, Alex.
• 40:57
  SPEAKER_00: I I love that you said that.
• 40:58
  SPEAKER_00: Because so many times we're always looking at the negative.
• 41:02
  SPEAKER_00: What if it doesn't work out?
• 41:03
  SPEAKER_00: What if it does work out?
• 41:05
  SPEAKER_03: What if it does?
• 41:06
  SPEAKER_00: Yeah.
• 41:06
  SPEAKER_03: What if it works out better than you expected?
• 41:09
  SPEAKER_00: Oh my gosh.
• 41:10
  SPEAKER_00: 100%.
• 41:11
  SPEAKER_00: Yes, yes, yes.
• 41:14
  SPEAKER_03: Now we're not saying go jump off a cliff tomorrow.
• 41:16
  SPEAKER_00: I'm not saying that.
• 41:17
  SPEAKER_00: You know, I'm definitely not saying that.
• 41:20
  SPEAKER_03: But but the the the the thing about it, to your point, Rose, is you know, the fear and um sometimes we have to expand.
• 41:31
  SPEAKER_03: It's hard to ex it's harder to expand your mind to accept better than what you expected.
• 41:37
  SPEAKER_02: Yeah.
• 41:38
  SPEAKER_03: I hope I said it the right way, because it's much easier to think about scarcity and the the way that the the mind works, the subconscious mind, um, and the psyche works, is is it's survival, right?
• 41:51
  SPEAKER_03: We're thinking about survival.
• 41:53
  SPEAKER_03: And survival is if I make this risk, I don't recover.
• 41:57
  SPEAKER_03: And you may have other responsibilities.
• 42:00
  SPEAKER_03: But the other side is, what if it's working out so well, I can't handle it.
• 42:04
  SPEAKER_00: Yeah, I love that.
• 42:06
  SPEAKER_00: I love that.
• 42:07
  SPEAKER_00: And especially in a time like now, right?
• 42:10
  SPEAKER_00: When you have like, let's take some pop culture, for instance, and you have some of the creators that shine a light on a small business that wasn't making any money, and now they're at the point where they they gotta turn the business away, and they never even anticipated that this would happen.
• 42:29
  SPEAKER_00: So yeah, you're you're right.
• 42:31
  SPEAKER_00: And then a part of it too is weighing decisions, right?
• 42:35
  SPEAKER_00: Because not every decision deserves the same amount of time or thought put into it, like belaboring it.
• 42:44
  SPEAKER_00: So, you know, for instance, if you're trying to decide whether to try a new marketing idea, you don't give that the same time and weight as deciding whether to take out a$500,000 loan, right?
• 42:58
  SPEAKER_03: Right.
• 42:59
  SPEAKER_00: Because that marketing thing, you can see that quickly, whether it's working or not working, or it's not going to be as impactful as if you do take out this loan and you know, whether it goes well or doesn't go well, it doesn't have the same impact.
• 43:16
  SPEAKER_00: And so uh should we be asking ourselves first, how difficult would this decision be to undo?
• 43:24
  SPEAKER_03: Yes, I do.
• 43:25
  SPEAKER_03: I actually I I do.
• 43:27
  SPEAKER_03: I think I think you have to weigh your decisions, right?
• 43:31
  SPEAKER_03: Um not not to go in blind, but you have to be ready, especially if you're an entrepreneur, and this is one thing I always say.
• 43:39
  SPEAKER_03: I and this is something I had to check myself on, Rose.
• 43:42
  SPEAKER_03: Like there, there's a lot of things on my plate on a regular basis, whether it's family needs, business needs, career needs, there's just always something, right?
• 43:52
  SPEAKER_03: And at one point, I was like, man, just I need to, you know, I take a break, I need this, I need that.
• 43:58
  SPEAKER_03: And I had to reflect and check myself.
• 44:00
  SPEAKER_03: to say, you know, this is what I pray for.
• 44:04
  SPEAKER_03: You know, this this is the moment I prayed for.
• 44:07
  SPEAKER_03: And so it is not a it is not a a uh a a a loss or burden to have the responsibility what you have to do what what I think the the cost is or the the indicator is is that you have to improve your discipline of handling the responsibility.
• 44:26
  SPEAKER_03: And the same goes true in terms of weighing what you could potentially lose right if you know that you could potentially lose you know something I don't know whatever's important to you there's two there's two questions you gotta ask yourself.
• 44:39
  SPEAKER_03: Number one am I willing to lose it to gain something better and number two do I need it if I had if I had to start over today is this the thing that I need the most very good questions.
• 44:58
  SPEAKER_03: And I promise you if you if you have if you answer the second question first and you can say if I was at zero right now I would need this thing right then the first is a no-brainer.
• 45:17
  SPEAKER_03: Yeah right yeah now I will also say if you got a family you have to weigh that cost you got young you know you got people depending on you you cannot just jump out there right you can't you do have to weigh the decision but it's also a family decision.
• 45:35
  SPEAKER_03: Yeah right because the impact of what you do extends well beyond you.
• 45:41
  SPEAKER_00: And so you know there's someone that is listening right now and there's a decision that they know they've been sitting on I want to give them five practical steps um that they can use when the show is over so let's go through this quickly because we're coming up to the end.
• 45:57
  SPEAKER_00: Okay.
• 45:58
  SPEAKER_00: Okay so um I think here are five questions that they can start asking themselves and one, what exactly am I deciding?
• 46:11
  SPEAKER_03: I think that's a good question.
• 46:14
  SPEAKER_03: Do you know what you want?
• 46:15
  SPEAKER_00: Mm-hmm and you know I kind of been talking about um wanting to bring on an editor and uh to to edit the videos that I do but I've become so much clearer about what exactly I need because I have tried out some other editors that didn't work out.
• 46:34
  SPEAKER_00: And I was like you know what I need somebody that also has the eye for a story.
• 46:41
  SPEAKER_00: It's not just the visual piece it's also the story that it's telling so there's there's this new hybrid that they have that's called a predator.
• 46:50
  SPEAKER_00: It's a producer mixed with an editor.
• 46:52
  SPEAKER_00: So if anybody's listening that's a predator hit your girl up I got something for you that's a nice way to put it together like that.
• 47:01
  SPEAKER_00: And so then another one is the what information do I actually still need and what would materially change my decision?
• 47:11
  SPEAKER_00: So not let me rephrase that.
• 47:14
  SPEAKER_00: What information do I actually still need?
• 47:16
  SPEAKER_00: So not saying what else could I possibly research but what information could materially change the decision?
• 47:25
  SPEAKER_03: I I actually think that's driven by knowing what you want.
• 47:28
  SPEAKER_03: Mm-hmm right I I I really do because when you when you can define exactly what you know you want for your product service team that you want to build or or next hire the information you need to collect funnels into that right so you know for example I I don't know if you've ever written a job description but sounds like you're getting ready to I challenge every business owner to write the job description on the job you want to hire write it from beginning to end.
• 48:05
  SPEAKER_03: I've done it several times um it is very challenging to know what you want on paper.
• 48:11
  SPEAKER_03: And then when you read it you're like that's that's a lot that's got a lot right but do it.
• 48:18
  SPEAKER_00: Okay and so as we get close to wrapping up we have about two minutes left um the last two time I was just talking so the last two what does waiting cost mean?
• 48:30
  SPEAKER_00: Because as we this whole conversation has been about there is a cost to waiting.
• 48:36
  SPEAKER_00: So that's whether it's money time that sizzle that you talked about an opportunity you know and then number four I I feel like this one is my favorite one.
• 48:48
  SPEAKER_00: Can I reverse it?
• 48:50
  SPEAKER_03: Let me get a do-over what is it what is it called in golf the do a mulligan I'm about to say don't ask me I don't know I'm just trying to I'm out there I'm just out there I'm just trying to make sure the ball goes straight that's that's what it called to be but if I can answer the third one what does it cost me?
• 49:09
  SPEAKER_03: I would say it costs you the opportunity yeah whatever that opportunity is has a value.
• 49:18
  SPEAKER_03: For some it's money for some it's it's uh a key relationship for some it's the job or you know the dream client for some it's the vacation um for some it could just be you know just that moment of of quiet and time to yourself.
• 49:35
  SPEAKER_02: Yeah.
• 49:36
  SPEAKER_03: Right?
• 49:36
  SPEAKER_03: Or it could be the freedom or how about this the freedom to live the life on your terms.
• 49:43
  SPEAKER_03: Yeah yeah that's what it can cost you and and for some is there's no value to that.
• 49:49
  SPEAKER_03: Now can you reverse it?
• 49:51
  SPEAKER_03: 100% because we serve a very very powerful God right and you know my dad always tells me every day above ground is a good day and he's absolutely right because what I didn't do yesterday go good Lord wakes me up it's my dad's turn right good Lord wakes me up I got another day to do it.
• 50:10
  SPEAKER_03: Amen you may not get to the finish line in the moment but if you keep moving forward you will get to the finish line.
• 50:19
  SPEAKER_03: And so I just I think you can absolutely reverse you know certain things um but you can't hang your hat on certain things that you don't accomplish or the why you got to learn from it but your your daily action is the reversal.
• 50:34
  SPEAKER_00: Mm-hmm I love it.
• 50:35
  SPEAKER_00: And then finally what is my deadline because I'll decide when I have enough information that is just too vague too loose too open you know put a date on that thing and make it yeah no bros I think I think you just said it like put a date on it give yourself a deadline and hold yourself accountable to getting this thing done right I was gonna say yeah I was just saying give yourself a deadline um and and also I'll share this something that I learned um don't overwhelm yourself with to-do lists I do that I'm a to-do list guy right but five or six things in a day high priority things that you want to get done and then out of those five to six things do the hardest one first that makes you feel accomplished you start to cross things off that deadline you're like I'm getting stuff done getting it done getting it done right um but but if it doesn't happen today move it to the next day right so instead of six things if you got one to carry over you got five things that you add to it so it makes the six but you don't add new you don't add six new things right um and I think I think the deadline you know you determine when that is but make sure you you remind yourself that it has to be done it has to be done and so with that we got to close it out this whole hour I had talked the whole time so guys you know normally we have on our radar with the upcoming events but this entire episode was about the excellence in business awards that is happening Saturday October 3rd and so we hope to see you guys there.
• 52:33
  SPEAKER_00: What's the website Alex for tickets?
• 52:36
  SPEAKER_03: www.pgcocala2026.org I'll do it one more time www.pgcocala2026.org can't wait to see you all there yes and guys make sure you are following along the journey we have a new Instagram page let's shout it out real quick before we go underscore I'm gonna let you shout it out oh you want me to okay underscore power moves media underscore power moves media okay guys so until next time that is all the time we have today I am Rose Johnson and I'm Alexander Austin and we will see you next Tuesday at three o'clock on lit 106 for Power Moves