can’t do that I’ll to pull it up right
yes trying to wait for Mario to pull up
the questions here while we get ready to
start Pete you ain’t real tough I got
episode 494 we pulled it off hey by the
way if you’re wondering why I’m wearing
this I’m a big Babe Ruth fan
I even collect this baseball cards from
back in the days
and also because I’ll be a New York
plane ordering I got a flight right
after this and then I’ll be in Madrid so
if you’re going to all classical or you
gonna be in New York snapped me maybe
we’ll have a meet-up in Madrid and in
New York so with that being said Mario
lead the way with your quads let’s go
ready until we got Dragomir stuff and he
asks Peabody do you think that online
will take the place of retail stores in
the future
it sounds like an e-commerce well I
think online will take the place of all
retail stores and equipment you know
it’s interesting that questions being
asked a lot lately
and I mean it’s not a new thing that’s
been asked for a few years then I will
tell you my answer is no here’s why let
me tell you why there’s a big difference
between me touching you and talking to
you and interacting with you then don’t
FaceTime with you as much as I love
FaceTime Skype all this stuff that we
use it all the time this we need I feel
your warmth I feel your blood I feel
talking to you I feel engaged when I’m
looking at your eyes my body was about
to get out of the army he is 20
retirements coming up him and I joined
the army to get I haven’t seen this guy
since 1999 2000 he is my probably best
friend in the world when we were in the
Army together
irreplaceable we were boys we did every
single thing we did together everything
we did together right now
he went to became Special Forces he did
some special ops I can’t get into a Jeb
mo man I can’t wait to see him betray me
we’re gonna meet up over there but uh so
he and I have Skyped already five times
in the last six months because he was
gone for eight years for different
reasons so him and I are gonna Scout we
scout for five times every time I speak
to him it’s great
well you know what I can’t wait for I
can’t wait for the moment I see em and I
go like this with them I can’t wait for
that
that is why online stores are not gonna
go away because we need human
interaction we have a need for this that
experience needs to be there now
those companies who don’t embrace this
concept and build their businesses their
retail stores off the need for this
they’re gonna be left behind that’s a
guarantee that’s a guarantee but those
retail stores that embrace this and
understand that as much as Internet’s
gonna be done I still need to come every
human interaction they’re gonna have an
advantage now here’s the other thing
there’s some people that say while
retail stores are becoming showrooms
because even dealerships nowadays you go
to a dealership and all you do when you
go to a dealership has look at the car
and a GoBot online which is true that’s
also what I do matter of fact when you
go to stores and always watch customer
behavior anytime you go to the store and
see customers going like this well well
well well they’re taking pictures in the
store right what do you think they’re
doing you think you’re doing that
because they like that picture don’t
want to post it on Instagram they’re
doing that because they’re gonna go buy
it online for 40% cheaper 30% cheaper
20% chic or whatever the discount is
gonna be maybe you’ve done that before
most of us have done that before yeah I
think anybody moving forward on the
retail side just like what Amazon Amazon
put a lot of bookstores out of business
and I said this I don’t know how many
years ago five years ago six years ago I
said Amazon is gonna put bookstores out
of business then they’re gonna come out
with physical bookstores but they’re
gonna add an experience to it and they
just announced a year ago or something
their first physical bookstore I think
in Seattle
those who figure out the human
interaction that we need and added to
their retail stores I think they’re
gonna have an edge over those who don’t
got it next question is by Ronnie
Goodrich
he says Peabody how do you minimize
entrepreneurial risk given the stats
that nine out of ten failed is it luck
to get rich or silence so here we go
with the luck and design so let me give
you both sides so those who become rich
hated when you say they got lucky okay
those who failed miserably hated when
you say anybody can make it some extent
so it’s like no that’s not true the
people that became rich got lucky and
not everybody can make it this is not
how it works I mean you don’t understand
my situation etc and the rich person
says I work very hard it’s because of me
I became rich now it’s not everybody
there’s a lot of rich people that will
admit and say I got lucky
I worked my tail off but I also got
lucky right so I think both of them to a
point are wrong let me explain why first
of all when you are when you attain well
today tom was coming up to me we were
going through a company valuation by
Cabrio that you know by major company
that does valuations of companies etc
and said over sinner look and I said
this is this is what the company and
we’re going through so it’s pretty
interesting when you look at a number
like that and you look at a person that
becomes better if it’s you so that makes
money you go back I guarantee there’s
people that they met that introduced
them to somebody that introduced them to
somebody that introduced them somebody
that led to a contact that raised the
money that brought a sales person that
brought an executive that brought a
strategic partner that took the company
next level now is their luck in it yes
is their discipline it yes so to me I
think there’s an absolute science to
getting rich 100% there’s a science to
getting rich but you also don’t mind
getting lucky not as far to nine nine
out of ten failing that’s a law so
meaning what is the law this is a law
it’s called gravity no matter how many
times I do it this thing’s gonna fall
it’s gravity it’s gonna pull it down
right if everybody made it there would
be no heroism to people becoming wealthy
successful playing professional sports
or becoming actors there would be none
of it the only thing that no matter how
much we’re coming out with an
educational program we’re coming up with
an entrepreneur University no matter how
much you do it nine out of ten will
generally fail because we can’t control
your effort we can’t control your
reasoning we can’t control your fire we
can’t control anything about you wanting
to go out and win big that part
information accessible to everybody
implementation and fight that’s on you
we can’t control that
that’s the part where you know the
debate comes a family raises five kids
they all become doctors hypothetically
right another family raises five kids
none of them do anything they just
become regular folks that are working
some places is there something to do
with the teaching that’s being given to
them is there something that’s being
given here yes so education and example
and resources and environment all that’s
going to influence but the general
number nine out of ten
people gonna film nine out of ten times
and there’s a good book you recommended
one time the genius and all of us I
believe it was yeah they would shank
damn you said it based on how many words
a child is hearing in different
households based on the environment
they’re they’re growing differently I
kind of reminded me of what you just
said yeah see what that book was about
the facts saying that a kid by the time
being turned 18 years old let me see if
I remember this a upper-class kid here’s
one hundred thousand more affirming
words than negative words me son you can
do it you’re awesome about attending
turn eighteen a middle class here’s one
hundred thousand more negative words
that you hey stop it you’re an idiot
getting you what are you doing what’s
wrong with you a hundred thousand more
of that then a welfare class was six
hundred thousand the study that this
person had done amazingly yeah it’s
amazing when you see some of those
numbers on how that influences with the
person turns out to be the next question
is by darshan bass Awad a he says
Peabody if I or anyone wanted to get
added in your network what are the
qualities that that person should have
what are the qualities somebody should
have to be added to my network well one
I’m extremely selective on who gets into
my circle and my network but I will tell
you the advice that you know I took when
I was 22 years old we were in LA and I
met with a friend of mine Jamie Jamie
was a guy that interviewed me many years
ago when I was 21 years old I
interviewed with them at a sales job and
his job I think his job description said
looking for sports minded people I said
this is me
I thought I was going to be an agent
that’s what I literally thought I was
gonna go out and do sports imma work for
Lakers or something like that I went to
the interview I was so impressed with
the guy that I kept his business card
and a year and a half later I called
them I said listen I I just want to
build a relationship with you do you
mind if I take you out to lunch every
quarter on me I just want to take you
out and we did that and should that
helped out a lot with the business but I
brought up my first meeting with them
was to follow and I said look currently
you’re probably going to feed me more
but I guarantee you eventually I’m gonna
feed you just as much as you feed me
because I want to help you as much as
you can help me so any way I can help
you
I want to be there for you tell me so
then from there the relationship started
I came through he came through 15 years
later faster over at today the level of
respect for each other and how there’s a
friendship now why because both parties
bring value now to one another so you
want it to be part of my network bring
value be sincere be authentic go out
there when big speak the same language
then you’ll you’ll be part of the
network eventually if the opportunities
come along does age matter for people
that want to be a part here I don’t care
about network it’s like asking me a
question would you be willing to
befriend an 18 year old kid that just
went straight out of college after year
one to the NBN is gonna play for the
Lakers and the guys so discipline is
read 600 books and his mind is so sharp
he works his tail off would you be
willing to learn from him absolutely if
you got to that level does it matter if
he’s 18 years old not at all there’s a
certain level of discipline the guy has
but age matters this much when it comes
out to you becoming a pro and some other
that can bring value to others can I ask
a follow-up to that sure odd when do you
know when to take someone out of your
network because a lot of people have
people in their network that maybe they
shouldn’t have values change vision
changes you know the this happens a lot
I did a video once when it says how to
choose a friend you know I mean you
think about this question go back to
high school when you were 16 years old
16 years old think about the five
friends you hung out with the most I
really want you to think about those
five friends you’ve got them in your
mind you’re looking over here yes like
that means you’re thinking yeah you got
the five people I got me how many of
them do you see right now regularly on a
monthly basis not when’s the last time
you saw those five friends Holly when we
graduated high school yeah now how often
you saw them when you were in high
school every day all day so think about
that what happened what what caused for
you not to be friends with them a life
changes they made decisions you know
career so you’re talking bad values
changes and change they go into
different direction sometimes you may
have a you know my dad would always say
in life finding a friend that you’ll be
friends with till the day you die is
just as hard as finding a woman or a
husband
you’ll be married good till the day you
die both of them are just as difficult
it’s not just you know well I found my
wife my life partner forever you try
doing that with a friend as well if you
can do both of those you probably want
the luckiest people alive to have that
experience people’s people’s values and
visions changes yeah very true
we have Kunal Jain that asks what’s the
difference between the management of an
owner versus the management of a CEO
love that question man yeah so you’re
asking what is the difference between an
owner founder and a CEO phenomenal
question okay so listen
may a founder is a parent a CEO is a
teacher a founder gave birth to the baby
but the CEO could be the football coach
or the basketball coach a woman gave
birth to her child but the head coach of
a football team helps build him into who
he is
she’s emotionally connected to the kid
he is also emotionally but never the
same way as the mother is connected to
the kid that’s the founder so when you
start a company even if a founder walks
away from a business and the founders no
longer there
the founder always wants his baby to do
well even if the baby pisses him off
always there I don’t know a single
parent that doesn’t want their kids to
do better than them I don’t know a
single parent even if the kids irritates
them gets on their last I don’t know a
single parent that doesn’t want to see
their kids do better than them every
parent wants to see their kids do better
than them
that’s the founder the the owner
mentality and then that’s the what’d he
call it that’s the CEO mentality one of
the reasons why I wanted to give equity
away to our sales force which I was
advised by so many people not to do it
save all of it yourself don’t do it this
is yours this is your big us and now no
that’s the difference between you I
don’t want to do it that way and no no
you don’t saying you should be doing
this you should be doing that you know
you you you shouldn’t
I said no that’s exactly the problem
with the way you’re thinking I’m gonna
give equity why because an owner treats
it like their own blood like their own
kid like their own business like the
thing that they put blood and sweat into
it they treat the company quite
differently versus somebody who does it
so I would say that’s the biggest
difference between a founder and owner
and a CEO by the way this doesn’t mean
another CEO cannot come and take the
company a whole different level we just
had a meeting wondering surance
companies who he came in as a consultant
at a time he was hired for 90 days 15
years later he’s still the CEO this
insurance company because he treated the
company better and he treated like his
own and he turned into our company
around into what it is today that’s a
head coach that was emotionally invested
vested into the Crusader the company the
cause of the company helped take it to
the next level but big difference
between founder and CEO very good then
we have Luciana larache who says that
when do you know whether to consider
making your competition an alliance does
it happen often to you it happens all
the time it happens all the time it
happened to us we had at the beginning
stages that started the company I had I
got a good insurance contract and we
made a speaker you know big announcement
big bombshell hey guess who’s partnering
up with us it’s so amazing these guys
are coming through etc etc they come
they train everybody gets licensed
appointed they start writing they buy
for their kids their family members you
remember this course ended three months
later they call me on a Monday morning
and it cancelled a contract I mean I’m
in business for six months so now I said
what are you doing this is we can’t
sneak for what we cancel your contract
what do you cancel my car I can’t give
it you if you want you can go through
this other guy because we have to have
loyalty etc etc said they were trying to
keep another guy happy I said we’re not
doing that he said well that’s your
choices I said we’re not doing that
that’s not what we’re doing
so I almost went out of business and I
promised myself this name a guy named
Luis I said I will never do business
with this guy named Luis ever again now
fast forward seven years later six and a
half years later six years later
I end up meeting with another guy named
Jay great guy through him I go back and
rekindle with the CEO of that company
not Luis another guy name another CEO of
the company and we have the initial
meeting I said les I just want you to
know this is what happened I’m not happy
about it
so if we’re gonna do this we can’t do
this moving forward not it on that boom
boom boom we went back and forth and in
a relationship was built then we went to
dinner we had several moments of she and
I spending time together and we found
out what the business is all but we got
so many things in common and now happily
doing business they were here last week
the entire morning the CEO was him you
know extremely great partnership that
it’s been so far and I foresee this
thing growing even more but it had to
come down to this strategic partnership
making sense for both parties so both
parties had to be willing to sit down
and say luck my bad my bad I’m not happy
I understand we’ll make it work than we
did now everybody wins
seasons changes people change we mature
as we age so there are some permanent
enemies but there are very few permanent
enemies there’s typically there are
enemies that you’ll have that end up
evolving into great strategic
partnerships say you have a business but
I would say that’s probably now on the
complete opposite side Steve Jobs want
to Bill Gates for money to build Apple
and it is Apple gave him a Bill Gates
gave him three hundred million dollars
and if we wouldn’t give him three
hundred million dollars there’s a high
likelihood a pagoda at a business I mean
this is what you read about you hear
about right and Steve Jobs goes up and
opens up his meeting at Apple with the
following way
he says for many years we we said in
order for Apple to win Microsoft has to
fill he says that’s been the mindset he
says times have changed and so the whole
message was about collaboration
strategic partnership etc etc bill gives
him 300 million bucks bills amount goes
up there and does what he does you know
one of the best interviews you’ll ever
see is Bill Gates and Steve Jobs and
read shares highly recommend watching
that if you haven’t you see two enemies
talking to one another like they don’t
love one another as much as they fought
they look like they love one another so
it all depends on the opportunity and it
all depends on both parties
do it and sticking around long enough in
order to be able to then sit in the
chair like you didn’t consider them yeah
stick it on long enough and we get yeah
you’ve got to have a memory because
people need to know what value is matter
to you the most like you have to have
standards you can’t compromise your
standards but at the same time I mean
some relationships make sense to team up
even though I had one point you were
enemies that you can stand each other
very good that’s the last question that
I think will the best question was so I
will tell you the one about the seal on
the end the owner because that’s in
which are now in all giant Kuno how old
are you man you look like a young kid
here and he asks a question like this he
absolutely deserved this shirt today
we’re gonna give you a different one
it’s not I’m an entrepreneur we’re
giving you enjoy capitalism shirt by the
way a lot of you guys asked about these
shirts you can get all of these on body
Timmy store calm but you will get an
enjoy capitalism Kunal is a king Kunal
Jane well it’s great to have a king gasp
questions right like the fact that you
call yourself a king you got a first
believe you were king before others
believe you can send your address to
Mario he’ll send a shirt over to you
folks if you got any other questions go
to twitter my twitter handle let’s put
it on the page here at Patrick bit David
any question you asked asked and put the
hash tag pbd Real Talk once again PBB
Real Talk and maybe your questions will
be addressed in the next episode take
you [Music]
yes trying to wait for Mario to pull up
the questions here while we get ready to
start Pete you ain’t real tough I got
episode 494 we pulled it off hey by the
way if you’re wondering why I’m wearing
this I’m a big Babe Ruth fan
I even collect this baseball cards from
back in the days
and also because I’ll be a New York
plane ordering I got a flight right
after this and then I’ll be in Madrid so
if you’re going to all classical or you
gonna be in New York snapped me maybe
we’ll have a meet-up in Madrid and in
New York so with that being said Mario
lead the way with your quads let’s go
ready until we got Dragomir stuff and he
asks Peabody do you think that online
will take the place of retail stores in
the future
it sounds like an e-commerce well I
think online will take the place of all
retail stores and equipment you know
it’s interesting that questions being
asked a lot lately
and I mean it’s not a new thing that’s
been asked for a few years then I will
tell you my answer is no here’s why let
me tell you why there’s a big difference
between me touching you and talking to
you and interacting with you then don’t
FaceTime with you as much as I love
FaceTime Skype all this stuff that we
use it all the time this we need I feel
your warmth I feel your blood I feel
talking to you I feel engaged when I’m
looking at your eyes my body was about
to get out of the army he is 20
retirements coming up him and I joined
the army to get I haven’t seen this guy
since 1999 2000 he is my probably best
friend in the world when we were in the
Army together
irreplaceable we were boys we did every
single thing we did together everything
we did together right now
he went to became Special Forces he did
some special ops I can’t get into a Jeb
mo man I can’t wait to see him betray me
we’re gonna meet up over there but uh so
he and I have Skyped already five times
in the last six months because he was
gone for eight years for different
reasons so him and I are gonna Scout we
scout for five times every time I speak
to him it’s great
well you know what I can’t wait for I
can’t wait for the moment I see em and I
go like this with them I can’t wait for
that
that is why online stores are not gonna
go away because we need human
interaction we have a need for this that
experience needs to be there now
those companies who don’t embrace this
concept and build their businesses their
retail stores off the need for this
they’re gonna be left behind that’s a
guarantee that’s a guarantee but those
retail stores that embrace this and
understand that as much as Internet’s
gonna be done I still need to come every
human interaction they’re gonna have an
advantage now here’s the other thing
there’s some people that say while
retail stores are becoming showrooms
because even dealerships nowadays you go
to a dealership and all you do when you
go to a dealership has look at the car
and a GoBot online which is true that’s
also what I do matter of fact when you
go to stores and always watch customer
behavior anytime you go to the store and
see customers going like this well well
well well they’re taking pictures in the
store right what do you think they’re
doing you think you’re doing that
because they like that picture don’t
want to post it on Instagram they’re
doing that because they’re gonna go buy
it online for 40% cheaper 30% cheaper
20% chic or whatever the discount is
gonna be maybe you’ve done that before
most of us have done that before yeah I
think anybody moving forward on the
retail side just like what Amazon Amazon
put a lot of bookstores out of business
and I said this I don’t know how many
years ago five years ago six years ago I
said Amazon is gonna put bookstores out
of business then they’re gonna come out
with physical bookstores but they’re
gonna add an experience to it and they
just announced a year ago or something
their first physical bookstore I think
in Seattle
those who figure out the human
interaction that we need and added to
their retail stores I think they’re
gonna have an edge over those who don’t
got it next question is by Ronnie
Goodrich
he says Peabody how do you minimize
entrepreneurial risk given the stats
that nine out of ten failed is it luck
to get rich or silence so here we go
with the luck and design so let me give
you both sides so those who become rich
hated when you say they got lucky okay
those who failed miserably hated when
you say anybody can make it some extent
so it’s like no that’s not true the
people that became rich got lucky and
not everybody can make it this is not
how it works I mean you don’t understand
my situation etc and the rich person
says I work very hard it’s because of me
I became rich now it’s not everybody
there’s a lot of rich people that will
admit and say I got lucky
I worked my tail off but I also got
lucky right so I think both of them to a
point are wrong let me explain why first
of all when you are when you attain well
today tom was coming up to me we were
going through a company valuation by
Cabrio that you know by major company
that does valuations of companies etc
and said over sinner look and I said
this is this is what the company and
we’re going through so it’s pretty
interesting when you look at a number
like that and you look at a person that
becomes better if it’s you so that makes
money you go back I guarantee there’s
people that they met that introduced
them to somebody that introduced them to
somebody that introduced them somebody
that led to a contact that raised the
money that brought a sales person that
brought an executive that brought a
strategic partner that took the company
next level now is their luck in it yes
is their discipline it yes so to me I
think there’s an absolute science to
getting rich 100% there’s a science to
getting rich but you also don’t mind
getting lucky not as far to nine nine
out of ten failing that’s a law so
meaning what is the law this is a law
it’s called gravity no matter how many
times I do it this thing’s gonna fall
it’s gravity it’s gonna pull it down
right if everybody made it there would
be no heroism to people becoming wealthy
successful playing professional sports
or becoming actors there would be none
of it the only thing that no matter how
much we’re coming out with an
educational program we’re coming up with
an entrepreneur University no matter how
much you do it nine out of ten will
generally fail because we can’t control
your effort we can’t control your
reasoning we can’t control your fire we
can’t control anything about you wanting
to go out and win big that part
information accessible to everybody
implementation and fight that’s on you
we can’t control that
that’s the part where you know the
debate comes a family raises five kids
they all become doctors hypothetically
right another family raises five kids
none of them do anything they just
become regular folks that are working
some places is there something to do
with the teaching that’s being given to
them is there something that’s being
given here yes so education and example
and resources and environment all that’s
going to influence but the general
number nine out of ten
people gonna film nine out of ten times
and there’s a good book you recommended
one time the genius and all of us I
believe it was yeah they would shank
damn you said it based on how many words
a child is hearing in different
households based on the environment
they’re they’re growing differently I
kind of reminded me of what you just
said yeah see what that book was about
the facts saying that a kid by the time
being turned 18 years old let me see if
I remember this a upper-class kid here’s
one hundred thousand more affirming
words than negative words me son you can
do it you’re awesome about attending
turn eighteen a middle class here’s one
hundred thousand more negative words
that you hey stop it you’re an idiot
getting you what are you doing what’s
wrong with you a hundred thousand more
of that then a welfare class was six
hundred thousand the study that this
person had done amazingly yeah it’s
amazing when you see some of those
numbers on how that influences with the
person turns out to be the next question
is by darshan bass Awad a he says
Peabody if I or anyone wanted to get
added in your network what are the
qualities that that person should have
what are the qualities somebody should
have to be added to my network well one
I’m extremely selective on who gets into
my circle and my network but I will tell
you the advice that you know I took when
I was 22 years old we were in LA and I
met with a friend of mine Jamie Jamie
was a guy that interviewed me many years
ago when I was 21 years old I
interviewed with them at a sales job and
his job I think his job description said
looking for sports minded people I said
this is me
I thought I was going to be an agent
that’s what I literally thought I was
gonna go out and do sports imma work for
Lakers or something like that I went to
the interview I was so impressed with
the guy that I kept his business card
and a year and a half later I called
them I said listen I I just want to
build a relationship with you do you
mind if I take you out to lunch every
quarter on me I just want to take you
out and we did that and should that
helped out a lot with the business but I
brought up my first meeting with them
was to follow and I said look currently
you’re probably going to feed me more
but I guarantee you eventually I’m gonna
feed you just as much as you feed me
because I want to help you as much as
you can help me so any way I can help
you
I want to be there for you tell me so
then from there the relationship started
I came through he came through 15 years
later faster over at today the level of
respect for each other and how there’s a
friendship now why because both parties
bring value now to one another so you
want it to be part of my network bring
value be sincere be authentic go out
there when big speak the same language
then you’ll you’ll be part of the
network eventually if the opportunities
come along does age matter for people
that want to be a part here I don’t care
about network it’s like asking me a
question would you be willing to
befriend an 18 year old kid that just
went straight out of college after year
one to the NBN is gonna play for the
Lakers and the guys so discipline is
read 600 books and his mind is so sharp
he works his tail off would you be
willing to learn from him absolutely if
you got to that level does it matter if
he’s 18 years old not at all there’s a
certain level of discipline the guy has
but age matters this much when it comes
out to you becoming a pro and some other
that can bring value to others can I ask
a follow-up to that sure odd when do you
know when to take someone out of your
network because a lot of people have
people in their network that maybe they
shouldn’t have values change vision
changes you know the this happens a lot
I did a video once when it says how to
choose a friend you know I mean you
think about this question go back to
high school when you were 16 years old
16 years old think about the five
friends you hung out with the most I
really want you to think about those
five friends you’ve got them in your
mind you’re looking over here yes like
that means you’re thinking yeah you got
the five people I got me how many of
them do you see right now regularly on a
monthly basis not when’s the last time
you saw those five friends Holly when we
graduated high school yeah now how often
you saw them when you were in high
school every day all day so think about
that what happened what what caused for
you not to be friends with them a life
changes they made decisions you know
career so you’re talking bad values
changes and change they go into
different direction sometimes you may
have a you know my dad would always say
in life finding a friend that you’ll be
friends with till the day you die is
just as hard as finding a woman or a
husband
you’ll be married good till the day you
die both of them are just as difficult
it’s not just you know well I found my
wife my life partner forever you try
doing that with a friend as well if you
can do both of those you probably want
the luckiest people alive to have that
experience people’s people’s values and
visions changes yeah very true
we have Kunal Jain that asks what’s the
difference between the management of an
owner versus the management of a CEO
love that question man yeah so you’re
asking what is the difference between an
owner founder and a CEO phenomenal
question okay so listen
may a founder is a parent a CEO is a
teacher a founder gave birth to the baby
but the CEO could be the football coach
or the basketball coach a woman gave
birth to her child but the head coach of
a football team helps build him into who
he is
she’s emotionally connected to the kid
he is also emotionally but never the
same way as the mother is connected to
the kid that’s the founder so when you
start a company even if a founder walks
away from a business and the founders no
longer there
the founder always wants his baby to do
well even if the baby pisses him off
always there I don’t know a single
parent that doesn’t want their kids to
do better than them I don’t know a
single parent even if the kids irritates
them gets on their last I don’t know a
single parent that doesn’t want to see
their kids do better than them every
parent wants to see their kids do better
than them
that’s the founder the the owner
mentality and then that’s the what’d he
call it that’s the CEO mentality one of
the reasons why I wanted to give equity
away to our sales force which I was
advised by so many people not to do it
save all of it yourself don’t do it this
is yours this is your big us and now no
that’s the difference between you I
don’t want to do it that way and no no
you don’t saying you should be doing
this you should be doing that you know
you you you shouldn’t
I said no that’s exactly the problem
with the way you’re thinking I’m gonna
give equity why because an owner treats
it like their own blood like their own
kid like their own business like the
thing that they put blood and sweat into
it they treat the company quite
differently versus somebody who does it
so I would say that’s the biggest
difference between a founder and owner
and a CEO by the way this doesn’t mean
another CEO cannot come and take the
company a whole different level we just
had a meeting wondering surance
companies who he came in as a consultant
at a time he was hired for 90 days 15
years later he’s still the CEO this
insurance company because he treated the
company better and he treated like his
own and he turned into our company
around into what it is today that’s a
head coach that was emotionally invested
vested into the Crusader the company the
cause of the company helped take it to
the next level but big difference
between founder and CEO very good then
we have Luciana larache who says that
when do you know whether to consider
making your competition an alliance does
it happen often to you it happens all
the time it happens all the time it
happened to us we had at the beginning
stages that started the company I had I
got a good insurance contract and we
made a speaker you know big announcement
big bombshell hey guess who’s partnering
up with us it’s so amazing these guys
are coming through etc etc they come
they train everybody gets licensed
appointed they start writing they buy
for their kids their family members you
remember this course ended three months
later they call me on a Monday morning
and it cancelled a contract I mean I’m
in business for six months so now I said
what are you doing this is we can’t
sneak for what we cancel your contract
what do you cancel my car I can’t give
it you if you want you can go through
this other guy because we have to have
loyalty etc etc said they were trying to
keep another guy happy I said we’re not
doing that he said well that’s your
choices I said we’re not doing that
that’s not what we’re doing
so I almost went out of business and I
promised myself this name a guy named
Luis I said I will never do business
with this guy named Luis ever again now
fast forward seven years later six and a
half years later six years later
I end up meeting with another guy named
Jay great guy through him I go back and
rekindle with the CEO of that company
not Luis another guy name another CEO of
the company and we have the initial
meeting I said les I just want you to
know this is what happened I’m not happy
about it
so if we’re gonna do this we can’t do
this moving forward not it on that boom
boom boom we went back and forth and in
a relationship was built then we went to
dinner we had several moments of she and
I spending time together and we found
out what the business is all but we got
so many things in common and now happily
doing business they were here last week
the entire morning the CEO was him you
know extremely great partnership that
it’s been so far and I foresee this
thing growing even more but it had to
come down to this strategic partnership
making sense for both parties so both
parties had to be willing to sit down
and say luck my bad my bad I’m not happy
I understand we’ll make it work than we
did now everybody wins
seasons changes people change we mature
as we age so there are some permanent
enemies but there are very few permanent
enemies there’s typically there are
enemies that you’ll have that end up
evolving into great strategic
partnerships say you have a business but
I would say that’s probably now on the
complete opposite side Steve Jobs want
to Bill Gates for money to build Apple
and it is Apple gave him a Bill Gates
gave him three hundred million dollars
and if we wouldn’t give him three
hundred million dollars there’s a high
likelihood a pagoda at a business I mean
this is what you read about you hear
about right and Steve Jobs goes up and
opens up his meeting at Apple with the
following way
he says for many years we we said in
order for Apple to win Microsoft has to
fill he says that’s been the mindset he
says times have changed and so the whole
message was about collaboration
strategic partnership etc etc bill gives
him 300 million bucks bills amount goes
up there and does what he does you know
one of the best interviews you’ll ever
see is Bill Gates and Steve Jobs and
read shares highly recommend watching
that if you haven’t you see two enemies
talking to one another like they don’t
love one another as much as they fought
they look like they love one another so
it all depends on the opportunity and it
all depends on both parties
do it and sticking around long enough in
order to be able to then sit in the
chair like you didn’t consider them yeah
stick it on long enough and we get yeah
you’ve got to have a memory because
people need to know what value is matter
to you the most like you have to have
standards you can’t compromise your
standards but at the same time I mean
some relationships make sense to team up
even though I had one point you were
enemies that you can stand each other
very good that’s the last question that
I think will the best question was so I
will tell you the one about the seal on
the end the owner because that’s in
which are now in all giant Kuno how old
are you man you look like a young kid
here and he asks a question like this he
absolutely deserved this shirt today
we’re gonna give you a different one
it’s not I’m an entrepreneur we’re
giving you enjoy capitalism shirt by the
way a lot of you guys asked about these
shirts you can get all of these on body
Timmy store calm but you will get an
enjoy capitalism Kunal is a king Kunal
Jane well it’s great to have a king gasp
questions right like the fact that you
call yourself a king you got a first
believe you were king before others
believe you can send your address to
Mario he’ll send a shirt over to you
folks if you got any other questions go
to twitter my twitter handle let’s put
it on the page here at Patrick bit David
any question you asked asked and put the
hash tag pbd Real Talk once again PBB
Real Talk and maybe your questions will
be addressed in the next episode take
you [Music]
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