Dr. Zoellner, Wes Carter (Attorney at Law), Josh Wilson (The founder of Living Water Irrigation) and Clay Clark answer 4 questions from Thrivers just like YOU
Buying Commercial Properties
Is he interested in buying commercial properties and wants to know if he should buy under his current LLC or create a separate business or DBA?
NOTABLE QUOTABLE – “Whoever believes in me, as Scripture has said, rivers of living water will flow from within them.”
You have questions. America’s number one business coach has answers. It’s your brought up from Minnesota. Here’s another edition of ask clay. Anything on the thrive time business coach radio show.
Yes, yes, yes. Andy. Yes, dr Z. It is always ecstasy when you are next to me. Yes. Yes it is, sir. Can I wait when we discuss Christmas party for a second? Yes. Many told me it was one of their favorite years. Favorite parties. Well we, we try to make it better every year. People had a good time. You got a good time. I think they had a great time. We had some great photos. I had a great time. Your sister was there from Manhattan, that producer of the today show. One of the producers. Yes. She was there with a couple of her good friends. One of them was significant for you that I fought the litter agent of choice for Elon Musk’s books and for Blake and Mark’s books. There we is. Yeah, he fought. So she’s there. And that was, that was fun. That was exciting.
He had no idea she was going to show. Right. I didn’t, I had no idea. I made that top secret. I didn’t. And then an Eric are the dance contest winner. What? I’m sell 500 bucks. I backed off I, I said I’m not going to, I was the reigning champion at times, just like Michael Jordan. He goes, he in the Olympics and then he said, you know what, the dream team, I’m now retired from it. Even though we were still playing basketball. I don’t think that’s what that was like at all. I think I used stepping down was a lot like Michael Jordan no longer showing up to the third grade basketball games and playing the kids one on one. That’s what I was like, well you like these super fit athlete, triathlete competing and Dodge ball versus kindergarteners. That’s how good you are. Well you have a, you know, you may move, you may, you may be right.
But the point is I didn’t, Eric, Eric stepped up and one that turned in one beautiful man. Beautiful man was great job. I mean so much fun would give away a lot of money. We had a lot of fun. We dance. We, the food was good. It was great food. Yeah. Yeah. Find Plex floor. Find beverages. I mean it was, it was, it was a Festivus for the rest of, I heard the other night was we were rocking this four bedroom. Love me. That’s what I heard. Oh yeah. Did you really come up there and hang out? You should’ve been Brocken with us, man. I didn’t know events up there. They tend to start as, I’m still, you know, trying to wind down and then really on Saturday, Saturday evenings we were rocking. Yeah. Wow. You have to work on Saturdays, man. That’s diligent. What’s this committed this time of year clay keeps me busy. There it is. Well, yes he does. He keeps a lot of attorneys busy. Now let’s talk about this. Today we have a, we have two listeners who have some really, really great guests who have some great questions for our guests today. So we have two, a great listeners who have questions for our guests. And what I’m going to do is I’m gonna read the question. I’m going to start first with dr Zellner. Then we’re going to flip it to West Carter, the same question and then Josh, you can up
Everybody. That’s how it’s going to go. That’s going to flow. So Josh owns living water, irrigation West manages the day to day operations of winters, king.com he’s an attorney and a doctor. Z is a, he owns a bank. We’ve got a doctor, we have an attorney and then we got me over here. That artist, I’m trying to, I’m trying to change the branding cause everyone thinks of you as an optometrist and you have an optometrist. Correct me. Early on, early on and you said, I am an entrepreneur trapped in an optometrist body. I’m trying to change it where people are going to forget that you even were an optometrist. I’m going to say car park, your car keys. I had an auto auction and McCarter seller. He owns a bank. You got to remember that they’re going to go. What kind of doctor? Who cares?
That was where the questions I was asking early on when, I mean, when I first started off seeing, you know, seeing every patient that came in the door, one of the guys sitting there, the chair, and I’d tell him about the DHEAS and what’s going on with SA, but it’s the opposite is his choices, what I prescribed, what I think is his best options and all this and all that. And he goes, he goes, wait a second, I go, what? He goes, the cheese to sell cars? I said, no. He goes, Oh, just, just, just checking. I think to think about it, selling and prescribing in the doctor world is kind of a kind of a weird deal for doctors, you know, but yet it’s, you wanna you want to, your patients are coming in to listen to you. If you’re out there and you’re a doctor, listen to this.
Listen to me closely. Your patients are there to get your wisdom and it’s okay if your wisdom is something that helps them, that also is good for you to sell. All right? I mean anti, we’re saying it’s okay to make a profit as a doctor. Yes, it is. Okay. Now I’m not saying do things of privilege that don’t matter, but like for instance, in my profession it’s okay to talk about an anti reflective coating for someone who drives a lot. Particularly if it helps them. Yes, it costs them more money. It’s a lot of times if something’s going to cost somebody something, we don’t talk about it cause it’s gone. You can’t talk about things that make someone more money because it is as a, as a almost communist country, we want to make three other kids our future don’t know about how capitalism works because think of the decision we’ll have to make.
What? What will they have to give up to get that feature on their glasses that will help their life. What will they have to give up? Their children may not be able to get the latest and greatest burrito’s Xbox game because they bought anti-reflective coating for their frame so they could actually drive at night without endangering themselves and the people around them. I mean, my point is is that it’s okay to talk about these things, even though it feels like you’re selling your, you’re educating ultimately their decision, but you, you have to give them the opportunity to do it. Right, Josh? I mean, when you’re, when you’re doing landscaping, you may say, Hey, listen, if you never gave them any of their high end options or options on sprinklers or options on stuff, I mean, it’s kind of like going, yeah, you know, we could just take your hose and we can just put it over here and we can turn it on and just water that part of the yard. That’ll be fine. I mean, no, you give you, you let you educate them.
Absolutely. Absolutely. We’re gonna, we’re gonna give them the best product possible. Right. And if they want to take advantage of some of the, the superior products on the market or some of the technological advances on the market, we’re absolutely gonna provide that. I lose. You can decide whether they wouldn’t be able to control it with their phone or not. Right, right, right. I mean you don’t want to have them to say, listen, Oh wow. I really had, I can’t, Hey Josh cause I wanted to use my phone. You’re like, Oh we had that option. Sure. Why did she tell you to offer it to begin with? Absolutely. I’m interested Z because, okay, go ahead. Let’s say decade the government’s made it harder to do what you’re talking about for doctors of course, stark and anti. Now I’ll guide you. What do you think about that? You know where doctors used to be able to create a product that worked what they thought better for their patient and sell that to their patients and now there’s been put a lot of restrictions on doing that. I’m just curious what your thoughts are. Well I’m you know, time
You, you, you maneuver in this arena. Do you have to be careful? Yeah, and it’s like I know time that you a maneuver in an arena, you have to be careful. You have to be careful. Okay. The renos are dangerous arenas can be dangerous. It’s like prescribing medication. Yeah, they’ll, they’ll ride down and maybe it’s not on that insurances farm log where they, they do a generic, they don’t get what you wanted. So it’s a little bit different in the game. But the key is, is that if you’re a physician, if you’re a dentist, if you’re a chiropractor, if you’re an optometrist, if you’re an MD, D O if you’re a cardiologist, whatever you are, you have to understand the rules of the game and then play by those rules. Don’t get me wrong. You have to play by the rules and the rules are set down by the federal government or by the insurance company that’s paying for that, those deals.
Okay. In other words, you have, these are the drugs that can prescribed, that will get paid for, but you have to let the notes say, listen, I, you can’t always judge a book by its cover. Just like Josh. I mean, just selling irrigation, professional selling, whatever they’re selling and you’re not selling, you’re educating the client, the patient on what their options are. You know, I personally feel like this is the best antibiotic. It’s not covered on your formula. You don’t get it paid for. I’m not saying you have to do it. Here’s the choice B that is covered for, but I just want you to know the studies and the data that backup what I’m saying. And sometimes that’s, that’s the world we live in. And unfortunately, late in the healthcare industry, I will be very honest with you, there are definitely two, maybe three levels of care out there. And, and it’s, is it fair? Is it whatever it is, what it is. I mean, I’m not controlling it. I’m just telling you what I see. You know, I’m real quick, I just to make sure listeners are getting this. So you’re saying, Oh, here we go. Be careful because it’s dangerous in an arena.
Yes. Especially if there’s a live bowl that’s mad. Let me queue up and you’re wearing red. And when you’re wearing red in an arena with a live bowl, I’m going to up this audio that I’m our crack squad of researchers. Paid attention. You’re on top and you’re a point. This is, this right here is I’m an audio off from inside edition explaining the dangers of arenas. I’ll cue this up West and tell me the danger we face. You. Okay?
It’s a dizzy insight. Look at that view. It’s as if you’re looking straight down. Steep seats are becoming more and more common at arenas across America. It’s designed to put spectator stuck in the upper deck closer to the action with unblocked sight lines. But is it dangerous
When McCartney opened to a sellout crowd at Sacramento’s new golden one center on the night, the arena opened last year. But look, this concert goer is being wheeled out in. It’s not because he fainted at the sight of McCartney. What happened? A fan fell on top of him. He says, because of the arena, steep seats, he’s not alone. It just felt very unsafe. As we were walking up there the next night, Megan, Sarah and her mom were sitting in the upper deck. When they say a woman’s seated behind them, toppled over them, all of a sudden, a large woman was over my back, my neck, my head in my lap.
So we’re working in the medical arena, marketing and upselling. We gotta be careful and in physical to West. Let me break it down. I think you took it literally what I what I meant, which isn’t bad. I mean I understand some marinas can be, can be dangerous, very steep stairs. So you’re not telling me to be careful in arenas,
But here’s also be careful. But when she bring up an excellent point and that is the rules in life, in business, I’m telling you what are constantly changing. I’ve been in business now not 30 but 28 years looking good by the way. And thank you. Thank you. I really pretty just smelling good by the way. You smell the way you look. You smell like $1 million.
Surely it can’t be serious. I am serious. I’m serious. Don’t call Sean called me. Be careful in arenas,
But the rules have changed. I remember, you know, I mean there, there was a day when professionals couldn’t advertise. Yes, there was a day when when professionals could own their own lab and referred to it without any problem. Right? There was a day when you could do X, Y, Z and those rules have changed. So you cause that’s another reason why we preached on it. We’ve talked about it while you have to have a relationship with a learned, not just an attorney, but a learner attorney in your area. Build a relationship with them and every now and then check in with them because you have lunch with them. Kind of check in or they check in with you and say, Hey, listen, just want you to know these new stock rule. Stark rules have come down. Here’s what they mean. Here’s what I think they mean for you. Here’s what we need to be careful about. Here’s what we need to look for. Do we have any of these relationships that could be inappropriate according to the federal government? Start girls, those, I mean I started off with what’s that? Right? John Stark. It’s a constant evolution in business and so you have to understand that the rules are constantly changing and that’s why you have to have it. So if it’s
Business owner or the physician or whoever it is, don’t just rely on someone else. I mean, someone else can help teach you, but you should be proactive in educating yourself. So go to someone like you said, that knows what they’re talking about, but listen and digest and ask questions and educate yourself so you can identify where these opportunities are and what the risks are.
Right? And that’s what it’s all about. It’s about risk management. And that’s what you’re here to do. You know, there’s, there’s few things in this world of the legal profession that are black and white. Yes, there’s a lot of grays. Even in the O, the Earth’s, I think it’s called the I, you’d say IRS, but we call it earth, the Earth’s rules and regulations. And you want to make sure that you’re, you know, you’re doing, you’re walking the fine line at being aggressive in your tax returns and yet not being too much, we red flag your site, but it’s a balance of saving money and exposing yourself. But so it’s all about risk management in this world as far as business goes, as far as these things go. So you bring up an excellent point, you know how to, how to physicians, how to professionals handle the ever changing laws and regulations and you got to first of all know about them, right? You educate yourself about them. Yup. And then, and then how can you take advantage of them? And that’s what, that’s what’s really about, right? We have four questions from listeners and I want to make sure we got the capstone thought there you just a balance between being aggressive and exposing yourself that they’re there and or more aggressively exposing herself. That’s, that’s the third would that you’ve been careful of. Oh, I just want to make sure because there’s somebody out there right now that they’re taking notes and they’re like, I don’t,
No, come on Snoop super go, woo, let’s go.
Can’t do that. Z, you can’t take us trick. You can’t streak anymore. Like he used to be tricking the quad anymore and you can’t aggressively expose yourself. I guess you can just have consequences. Right. Whereas you have to do the cost benefit analysis. Exactly. Yes. Yes. You can’t drink and drive, but there is a consequence. Otherwise you call Uber or Lyft or you know, or your child, which I have now dubbed as goober. So you can do, you can do Uber, Lyft or goober goobers where it’s a friend or family member that drives you and they charge you a lot more and they’re typically slower but they get you there. So here are the questions. The first companies in the medical space
And they provide rides for elderly people, elderly people from point a to B. So they’re kind of like an Uber almost. But for elderly people, I believe, I understand the business model and they said they’re interested in buying a commercial property and they want to ask Z. They want to know if, if they should buy the L the buy the property under his current LLC, which is which, which is his name. Or if she or if he should create a separate business LLC for both strategic and tax reasons.
Yes, plan B in West will back me up on this. You want to have it layered your property you want to have in in one LLC your business in a different one. And the reason for that is for liability purposes, someone does a slip and fall, then it’s not the whole tamale that they’re going after. And I say going after it’s, you know, we, we sometimes worry and fuss too much about what people, I’m going to lose the whole shebang.
It’s to form another LLC is not a lot of money. Let’s look at the reality of it. How much is it West? It’s cheap. Insurance is what it is. It’s cheap insurance. Exactly. What, see, I don’t understand kind of like Uber. If you’ve got to go out to dinner tonight, get an Uber and cheap insurance. Right? Stands for limited liability corporation. Correct? Limited liability companies.
Company limited, limited liability company. That’s why West is here. So you have a limited liability company and you your business, you file as a limited liability company. Why West? Why would you even want to do that? There’s somebody out there listening right now who’s a sole proprietor. Why would you even want to be a limited liability?
You’re putting your stuff in separate buckets. So the way this would work is you, the one LLC owns the property and all it essentially is as a landlord, it rents the property to your other LLC that actually does the business. Got it. So the idea is do as little as humanly possible and be LLC with the assets that could create liability. So where all your liability,
Oh, assets are not. So let’s talk. So, so now, now, now I get it. So let’s say I, I have a business. Yes.
And I have a business that’s doing well, but I have a lot of customers, thousands of customers. So I need to form a separate company that buys my building or builds my building. And then the only business coach client that my building LLC has is me. Exactly. And the chances of me suing myself are very little.
And it’s not just with property. You can do this. You know, if you’re in the construction industry, put your heavy equipment, you know, it’s where your, your assets, you know, what, what’s the major asset in your business plan. And then if you can find a way to isolate that from the activities where you might get sued, then it helps protect you.
Now, strategic support for instance, so we will talk out the word liability, but you’re like, what does that mean? None of this thing going. What does that mean? So let’s say the person that wrote in, they buy the building and its own LLC, okay? And someone comes in and does a slip and fall on that property in whatever capacity they other words, they injured themselves on your property and the company you would say, I’m going to, I’ve got medical bills, I’m going to [inaudible] first get the shakedown letter. And you’re like, Oh, I’ll forget about it and shouldn’t have written doing that. You don’t need to throw it in the trash. And then you get the lawsuit that says, you know, we were injured on your property. We’re going to Sue you. We have, we’ve been to chiropractors and this and this and this doctors. And now we want, we want all this money because it happened on your property. You should have had this. You should’ve had rock salt down because you knew it was starting to sleep. What audio of the, of the accident. That’s the liability. So if that building is the only thing in there and all your other assets and all your other companies or another LLCs, worst case scenario, that’s all they’re going after. Is that right West am I did I covered that correctly?
Yeah, I mean and you could work at a couple of different ways. So that’s one way or the lease you have with your other LLC is the tenant that contractually can obligate them to cover any slip and falls and liability. So you know, and then again you’re insuring against this. So insurance is another added layer. It was, not to get too complicated but, but you’re exactly right. So where whoever’s going to be liable have to pay for whatever got hurt. You want that to the smallest bucket, right? You want to put one or when one bucket by itself, right. Not the whole entity. Exactly.
And I’ve got audio Z of the accident you were describing. Let me queue this up real quick. This is power, powerful audio power pop our family. Mr. Miller, remember that commercials are powerful. Powerful. Yeah. The power push. That’s the little little button. Hey, do you remember, remember the movie red Dawn Z of course. W the idea of red Dawn was the commies were coming to Oh yeah, take over. [inaudible] Yeah. And I think as a business owner you have to answer that conspiracy theory that like the bad guys might try to take over your business at any time. They’re trying. And so what you want to do is now you’ve got to have some strategy here. Can you talk about the expansion of your auto auction? Can we talk in detail about that and help about why now? Can you talk in detail about your auto auction stage expansion at this?
Oh, I’m, how am I under contract getting in there? Eight acres? Yeah. I mean, did you form a separate LLC to buy that? Well, our already have one that holds all the land holdings in it. So you already have a separate LLC that owns the land? Correct. Why didn’t you say Robert Zellner wants to buy the land right next to Robert’s owner’s auto auction? Well, I mean, now I don’t, I don’t mind saying that except you know, now that the LLCs have their own names. And so but back in the day when you’re first trying to buy the property? Well, when I first tried to bright by it, I didn’t want my competitors to know that I was up to to compete with them. So I, I did an LLC with a without my name on it because everything, you know, when you start doing public records, they become the, there’s reasons why they come public records because they’re public record public and people can see it and you don’t kid yourself. I mean, if people really want to dig around, they can find out a lot about what’s going on in your life more than you might even think. But, so that was a different age when I was buying the properties to start
My auto auction through through a company that was not my name. People were like, well, who’s that? Who’s that? Who’s that worldwide pants? Well, what’s this, what’s going on? And then now that I’m buying them, I still just buy them underneath the name of the LLC that owns the property, which is not that big a deal. Cause you know now we’re the largest auto auction in Oklahoma and really doing well. So worldwide pants by the way is the name of Dave Letterman’s production company worldwide. I think it’s very important for the listeners to know that. So now we talk about this. We talk about, we have a business coach client out there listening out there who is a home home remodeling guy. And this question will be a great question for all three of you guys here. He says, what’s the best way to protect your business, his name and to find out if it’s already being used by somebody else. Let’s start with West Carter here. First a West. How do you, what’s the best way to see if your name is okay to use?
Well, I mean the, the, the first way to do it is use a search engine and that’s going to get you 80% of the way there. Cause you’re going to find obvious conflicts after that and you narrowed it down to a name or two. Then what you would do is talk to someone who does trademarks and they can actually do clearance searches where they can search trademark records, business filing records, you know, business journals, all kinds of fun things to figure out who is out there that might be using the same name or a similar name to do the same thing you’re wanting to do.
So you’re going to call somebody to get clearance. Exactly. I’ve got audio. Let me kill the audio. I believe this is the one calling your office earlier today. What’s calling your office today? And I believe this is them calling and they are asking for clearance. And let me just cute and make sure that’s the right clip. It could be the wrong clip. I don’t know. I mean sure,
Zero nine or you are cleared for takeoff, Roger. Huh? LA departure frequently. What two 3.9 or Roger request over flight two zero nine are clear for our vector at three to four
We have clearance clearance. Roger, Roger, what’s our vector? Victor Dover, Clarence over over. Roger.
That sounded a lot like Lew Alcindor. Why were you on a plane or was that, was that the wrong file? [inaudible] The wrong thing a little bit. My bed. Okay. Cross. So nation, what if you’re out there and in this guy’s case in particular, if he does reach out to you to see if he can use the name, how much money does it cost?
Well, one of the things I like to do is there’s, there’s companies out there we can ask towards that too. Cool. Instead of paying an attorney three or $400 an hour to search through records, there’s companies out there that we can use. So, you know, depending on if we go just the United States, if we go the whole world ranging probably between three to $700 to do that kind of a search to find out a whole bunch of information.
Josh, your company living water. Yes sir. There’s not a whole lot of irrigation companies I’ve run into called living water a lot. Not a lot of businesses called living water. What is the name living water mean to you? Or why did you name it? Living water. Why not dead water? Old water. Reverse osmosis water. Well, so many different kinds of [inaudible]
Water filtered water. I mean, he didn’t like filter water. Purified water. Well we didn’t have them
Meeting about the meeting, about the meeting of the naming, so we probably should have done that. Okay. But living water for us was John seven 38 or is John seven 38, I apologize. Obviously living water irrigation is living water and then we wanted to have a a scriptural and Christian base as well. So whoever believes in me, rivers of living water will flow through them. That’s, that’s what we pulled it from. It’s mentioned in the gospels a number of times. But you know, I would funny that we talk about that cause I named the company before I knew West Carter and you know, there is a out there, another company with the identical name
In Oklahoma or, well, not in Oklahoma, you know, very fortunately not in Oklahoma, but there’s [inaudible].
So yeah, there’s one, two, three, three, three of them.
What does, what does it do? What is that?
So if no one has ever registered trademark, okay, so they’re all in Josh situation where they start a business and their own local place, right? Then they all have rights in that geographic area. The problem is when one of you starts getting bigger and expands, then you start having a fight. So if one of them are in Arkansas for instance, and you expand business into Arkansas, then all of a sudden you’re going to get one of those shakedown letters. He talks about, Hey, don’t you ever come to Arkansas again? You’re infringing our trademark rights here in Arkansas. Or worst cases, you went into one of those people that does have a trademark registration, a federal trademark registration, and two years down the road is when you find out about it, not the next week. And you are facing a complete rebranding of your entire business after you spent blood, sweat, treasure to build up all this Goodwill and name recognition. So that’s worst case scenario. And that situation though, you probably are just looking at carving your, your rights out in the places where other people haven’t used them.
So. Okay. I, and the next question from this listeners, they said, what is legal for his wife, not an owner or employee to do in the business now? Okay. Before someone says, what do you mean? I, I did a speaking event years ago in Nebraska and at the event the governor was there and it was the Cattleman’s association and my wife went with me. And how I told you this story before is even, I told you this story
[Inaudible] you gave a speech on how to be vegan. Have you ever heard, have you heard about the Kettlemans? I think I’ve heard so many, I think I may have, but go ahead
There. And what’s happening is that there are a super liberals who are trying to pass. I say super liberals. That’s an oxymoron. That’s not true idiots who are liberals. We’re trying to pass legislation that was designed to make it, your kids can’t go to work with their dad on the farm without being paid a certain amount of money and the child labor law thing. And then you also have to pay them overtime if they’re hanging out with their dad more than 40 hours. Well, if you grew up in a farm community as I did, everybody hangs out with their dad all summer, probably 70 hours a week with dad on the combine in the field. And they’re saying that you need to, there’s two things they’re trying to propose. One is that when the trailers, these big tractors drive by, that they’re putting too much dust into the air and that has to be stopped.
So you can only drive a certain amount of miles because of the dust, you know, that goes in the air. And then the kids can’t work more than a certain number of hours. And it was something done. They’re trying to pass like 10 hours. And the, the governor was outraged. All the farmer communities, it’s a fault. It’s a farm state. And these morons in the heavily populated regions of Nebraska were wanting to change this legislation cause their dad made them learn how to farm probably. And now they grew up to be a bass ackwards adult. So this guy, his wife works with him for free. Okay. She just helps out and I know their situation and they don’t have enough money to put her on a big salary show. He’s so he, she’s just helping out. Sure. And the question is, is, is it legal? And I think probably somebody brought it up to him. Like, it’s not even legal for your wife to work for free. So let’s get into the practical side of this Z. And then I’m gonna ask West the hard-hitting legal side of it. So was there ever a time Z where your son, daughter, wife, aunt, cousin, neighbor, somebody ran an errand for you that by the way, you help in other ways that you didn’t pay.
Yes, yes. I didn’t know it was illegal. I’m waiting to hear from West. But yeah, I mean when you first start a business particularly it’s all hands on deck, right? And those around you that aren’t going to be longterm, but to short term, they’re not here for a long time, but they’re here for the now time. You know, help you in whatever capacity to whatever their skill set is to help you start that business up because you don’t have a lot of money typically when started a business. And so the idea that that’s in some capacity illegal just blows my mind. I heard a Jerry Seinfeld one time talking about the comedy and the host interviewer asked him, you know, a lot of times you’re telling jokes about your family, what does your family think about that? And he goes, Oh, it’s all hands on deck. I mean, we’re a comedy family. Yeah. Everything is fair game. Everything, everything. So it just, you get used to it over time because I have to tell short stories about my family and my wife. Those are funny,
Funny. And that’s why. And then the interviewer was like, do you ask them first? No, we’re a comedy family. This is the family business. That’s what we do. But Wes, let’s talk about this. Is it, is it legal for this guy’s wife to, to work in the business without being paid?
I wouldn’t say it’s illegal, but there are some things you probably have to work through just to make sure you understand the implication. So if the first question is, does the wife have any kind of ownership interest in the company? Because that can have a bearing on taxation and you know, if you’re tax as a partnership or sole proprietor. And then the other thing is, you know, if she’s not an owner, then technically the relationship would probably classify it as an employer employee relationship. Now your, your wife presumably is not going to come file a wage claim for minimum wage. And if there’s no expectation of payment, then I think you have, you know, you’re in pretty good grounds there with this, with a spouse. But there are, there are some things that you have to work through because even if you pay the wife a little bit now all of a sudden you’re talking about FICA and payroll taxes and tax fire, you know, just a whole nother layer of numbers and accounting and stuff that you’ve got to deal with as a business owner.
My, my, my advice is this, if you are a business owner and your wife is willing to work for free cause she has to because you guys can’t afford to pay her right now. Say thank you ally. Her flowers make it up to her someday. I know for my marriage, my wife did so much work early on for free. She helped haul gear. She agreed to turn off the heat and the air conditioning so we could afford our yellow page ad short to office Depot and oral Roberts university while I worked at target, Applebee’s and direct TV, putting all the money back into building DJ connection.com. And without that it’s debatable whether I could’ve done, I think, I think I could have done it, but I think it would have taken me longer or it would’ve been harder or more difficult to whatever that was.
But she didn’t ask for payment. So then Z when it got, when I it occurred to me one year I, I need to get my wife a ring. Oh, you know, ring, you know, you get married. You asked, did you buy your wife a wedding ring when you’re getting married? Did you buy her a ring, Josh? I, I did. I did see I didn’t, okay. When we first got, I proposed to my, you were 19, I was 19. And I proposed and my grandmother gave me her ring and I passed that down to my wife and my wife’s always been talking about, you know, she’d like a ring someday. And I always, I really don’t like rings at all and unless they’re going to be used to cut metal or something, I didn’t think to see the purpose of it for diamonds.
And but then over time it occurred to me like, wow, she really wants this. She really wants one. And so what I thought I would do is I would make a huge fuss. I went too far. Z, I carried the joke too far. It’s shocking. And so I said, listen, I will not get you a rain. Not no, no. And I put a line, I line the sandwich. It was like October, about five years ago before my birthday. Now it’s not gonna happen, not gonna happen. So I need you to let that dream die cause it’s not going to happen. And she was like, just, she was, she was not with this bus, with, with this verb, not good. So then from, I took her out for my birth Daisy for my birthday and I said, I said for my birthday, we’re going to go to that place right by your optometry clinic.
Backwind is an Irish pub, so we’re going to go there for my birthday and this year cause she knows I don’t like to celebrate my birthday this year. I bought myself the finest gifts, dr Z, the finest gifts, the finest boxes and boxes and boxes. And then you for my birthday will watch me open gifts to myself. I’m just like, yeah. And she knows I’m kind of messing with her, but not really sure why I’m, I’m, I’m just so frustrated with the, the ring conversation, right? So she opens the first box and it’s a pair of shoes for her. She opens the next box, there’s another thing for her, another thing. Then there’s a big box, Joel, David, help me wrap this thing. And this box was a big box, probably a four foot box. And then that box is a three foot box. And inside that box is a two foot box inside that Russian box.
And it keeps going. And then you open it up and there was a ring that cost more than our first condo. Oh man. You know what turns out that ring stimulated romance. Oh and so you know it’s everything. Get the twins. Well I think no, cause they were already here. Oh yeah. But if, if it was, it was so good at almost reversed my vasectomy. Wow. That’s a powerful ring. Yeah. So this, this particular ring, it was a good thing to get my wife a ring to say thank you. But it was a thing where, I mean I went back and tried to pay her West for all the hours that she worked for free. It’s like 50 hours a week for seven 25 an hour minimum wage for like a decade plus penalties and interest. I mean
For are the reasons why the law has, most laws have exemptions built in from the labor side for family owned businesses, for spouses, children, things of that nature. I think we can all agree child labor is not a good practice, but it’s a different situation. When your kids working in a family business and that the law makes allowances for that.
So just so we’re clear, if I pay my wife minimum wage and she was making seven 25 an hour for 40 hours a week for 10 years, that would be $150,800 I owed her. So I kind of screwed her over on that ring. Dude, you got, you got one up on her yet again on the Lao. Yeah. So now the next question from this, this, this a thriver, this great listener who’s a a builder remodeler guy. He asks me, he says, Ken, his wife still legally look at the background checks without being on payroll. Yes. Why would, why would that even be an issue? I think he, I think this is a man who is I, there’s all different kinds of entrepreneurs out there. There are some entrepreneurs that never ever worry about the law and some entrepreneurs that exclusively focus on the wall and some people in the middle there. It appears to me based on these questions that this gentleman has some legal questions West. He is worried about what is the, can a guy come in and meet with you for like an hour and get a lot of answers resolved or are you going to keep them there for 10 hours? I mean how does that work with you?
No, I mean most, you know I’ve done this long enough now or a lot of these questions we can talk about and I’ll be able to answer off the top of my head. So I like to think our meetings are pretty productive and we do free 15 minute consultations and those are really geared to make sure it’s a good fit and not into get into nitty gritty stuff before we establish a relationship. But I mean we can go through a lot of stuff in one hour if you’ve got your questions ready
And is it cost three 75 an hour right now my hourly rate is three 40 an hour. Three 40. Now Ken, can this guy, let’s get his wife still look at background checks without being on the payroll. Well, I think you have some, you do have some privacy
Concerns there. You know, cause when you’re talking about a background check, those are property by several laws. I’m, here we go, the fair credit reporting act. You know, so it’s, it’s very similar looking at someone’s credit report, but one, there’s ways to fix this. I mean, you can make, again, we’re going back to like a spousal imp, you know, quote unquote employee, right? You can make that wife an officer of the LLC. So now it’s not just right now she’s not just a stranger to the business. She’s an officer or you’re in the business or if you set it up where you have joint ownership. So there are ways you can do this if you have concerns or you have highly confidential information that a spouse needs to look at as part of the business. There are ways to address this without going overboard to make it kosher.
There we go. Oh my gosh, this song you have not recently streamed strangers in the night.
Go right now to Spotify.
It’s iTunes and listen to this entire song [inaudible] sample to kind of what the power was in the business, looking at stuff. Don’t share with your wife. I should been. And a Jen the LLC. Whoa. Then I can look at, let me think. I take this to the chorus now. There we go. Whoa, Whoa. You’re feeling it? Oh I was, I know. I kinda got shut down a little bit there. Don’t let your wife look at background checks. Oh yeah. Here we go. See, here we go. Oh, come on Britain’s the business looking at shooting years in the business. Okay, that’s good. It’s good.
I’m sorry to everybody out there. And one other thing about the size, the legal for our, for our listener, you should be talking to an accountant because there are ways play in from a tax perspective about deductions for salaries and is your spouse going to need social credit for quarters?
I mean all these other issues from a money perspective, come on now that you need to be looking at to make sure it’s structured in the most advantageous way. All right, we got final two, two more questions. This Justin on my, on my list of accountability questions from great listeners. Here we go. He says, what happens if I fire one of these people in the midst of being golden handcuffed? So Josh, you introduced me to today to a guy by the name of Mike. A great employee. Yes sir. What does he do for you? He’s a, our lead service tech managers. Our service department for us goes out and does all of our repairs for us. Coordinates with you said he’s the best guy ever. He’s honestly the best employee I’ve ever had. Sidney awesome person a Z works with you. Your assistant just could go Monty, her husband, great guy runs that auto auction with you.
Great guy. There are certain people you want to lock in, am I correct? Because they lock him in baby. Lock them in. Lock ’em in. When you find a certain person, you lock them in. You, I believe Z refer to this as golden handcuffs. Sure. You give them an incentive that they need to be employed with you for a certain amount of time to get that incentive to get that little carrot at the, at the end of this Dick. But yet that that’s kind of a golden handcuff golden handcuffs if for the employer to encourage the employee to stay with them for an extended period of time. And if they leave, then the little carrot goes away. So this guy is a, he owns an excavation company and he says, is there any way to use quarterly incentive bonuses as golden handcuffs for key employees?
As an example, my top performers are currently earning 10,000 to $20,000 per year and incentive bonuses throughout the year. My idea is to hold back 50% of the incentive pay with the promise multiply with the promise to multiply it after a given period of time of continued employment. So I think you’re saying you’re going to get 10 to $20,000 a year of bonuses, but all I to knock that dude down to five, five to 10. Yeah. Unless you’re with me the whole year or something like that. So Z, let’s just talk about the practice of it with what’s on the practical side, on the golden handcuffs. Do you like to do yearly pay outs, quarterly pay outs, weekly pay outs? What? What, what? How does that work? The longer the better. I’d say it was a business owner. You always wanted, the longer the better for you.
I mean people will want it, you know, quicker than that. So I think that’s all about negotiations. So you have to, you know, you, you always want to do what’s best for you, what’s best for the business. So we annually would you prefer that are quarterly? Annually for sure. Over quarterly. So you get to the end of the year, right? Then we’ve tracked, you’re still here. We had a good year, we hit this Mark, we did this amount, we did this, but, but then it’s not a bonus, you know, if you’ve, you’ve kind of spelled out, but it’s part of their compensation. That’s what they going to be careful about what you call things. Right, right. Absolutely. I mean a bonus is an unexpected amount of money or or a situation or a little gumball, discretionary, discretionary gumball. Now if you say, listen, if you hit this Mark and you stay here and you do this, I’m going to give you this. That’s not a bonus. That’s not a mission.
Right. I don’t want to, I don’t want to quibble with words, but you’ve got to be careful about that. Very important because that’s technically not a bonus. Okay. That’s a wage that you take to pay it once. Take that. So I think though encouraging longterm and finding out those superstars as eight plus employees and then encouraging them with incentives to stay for a long time is, is the move in money, a percentage of the business, a little piece of the action or some other thing that would be important to them. It is important to them. You find out what’s important to them and then and then do it. You might say, listen, like you said, you’re going to get them in your mind. You don’t say, well listen, I’m going to give you a $10,000 this year. But now what I’m gonna do is I’m gonna take 5,000 back and I’m gonna hold it for another three years, but I’m going to make it look like $7,000 then if you stick around, it’s like, what?
What did what, what, what just happened? So the think about it is you’ve got to sit down, you’ve got to sit down with an attorney or CPA or maybe both, and talk about what is the best, what do I have in place now with my employees? Okay, what’s, what’s the deal I have right now I have a couple of superstars, as Josh pointed out, as I’m sure West has and clay, no you haven’t. No, I have. And you say, okay, what do I need to do? Or what can I do or what am I options to keep them as longterm employee? Now they may leave and if they do, what happens? I’m a fire them. And if I do, what happens? Because sometimes that happens, you may have a superstar today that becomes a entitled, I mean, I’m all kind of sitting there, all kinds of scenarios. Addictions happen, bad pits happen.
Negative don’t bring up the past and the future. And the current present. Sorry, I apologize for that. I obviously ripped off a bandaid before it was ready to throw plane. Sorry. Sorry about that clay. Jeez. But the point did you sit down and you get a plan. You said, okay, here’s my, my goal is, my goal is, is to have a happy patient, happy employee that stays with me in a long time that is productive and continues to be a rock star. That’s what you want. Now what are some of the ways I can do that? And these golden handcuffs are some of the ways in West. Do you, do you do offer that service or anybody your firm offer that kind of consultation? We
Do. And there’s so many different ways you can do. You know, some of them get a little more involved when he started talking about Phantom stock options. You know, these other things. But essentially you’re on the right. You’re, you know, the basic principles you just described very, very well. What I would tell the listener is for really two, it’d be a golden handcuffed. I don’t think your horizons long up one year is really not right. That’s not designed for golden handcuff. You’re talking about like a five year plan, a 10 year plan. You’re trying to keep them around long term. And really what he’s talking about I think is restructuring the way he does bonuses or commissions to be able to pay people who don’t stick around all year, which isn’t really a gold handcuff in my mind. I mean, I think those as a longer time frame than just [inaudible].
How long have I been a time? Are you thinking about for it to be golden handcuffs in your mind? I’m thinking like a minimum of five meters. Yeah. Are you under golden handcuffs right now? West Carter and winters and King kind of, hold on. No, no. I remember shareholder now. So I mean, I guess I have my own, he’s the guy who, Oh, he’s got them. All right. There’s shareholders real bright and shiny and really big. I’m not asking, I’m not asking for the details of, I just want to make sure I get this because you’re interesting because you are an entrepreneur and an employee and a partner. I mean, so you start off as an employee then moved into the partnership. So you’ve gone through that whole thing as a partner. Do you guys do like a profit share where everyone shares profits or do you guys just do like an annual dinner where Tom hands you half of his steak and you say high five? Let’s wrap it up.
Shareholders. I mean we, we, we, we portion the profits based on our ownership, just like a regular corporation. And that’s a good point. I mean, there was no formal agreement that I had. I mean, we’ve been having, we had talks for, you know, 10 years about where we were headed in what we were doing. But some employees that’s just not good enough. You know, there’s, there’s different relationships and different expectations. And I think one of the great points Z made was the goal is for the employee to be happy and stick around. Right? So if you make it to long term or you defer too much income, it can actually come back to bite you in the rear because they resent you for it. Now I want to, I have this opportunity, but or I, I’m tired of doing it. I’m doing it.
I can’t leave for threes. I’m a sit here for three years and be bitter because I want that golden hand. And so you do have to be very careful, right? And so you end up with employee that last, that last part of that term where they may not be so happy to be around. They’re just sticking around for them. Pancakes. Excellent point. You know, and it, it it timed. You’re making a deal. Clay, as a business owner, that’s not a win-win. Anytime you think I got them, that was a good wood. Yes, I got them.
Good. They’re never going to read that one.
You’ll never guess what I got Billy to side in the longterm. That’s not healthy. It’s not good. Having a bitter prisoner as an employee is, is not healthy for anybody. It doesn’t help your bottom line. It doesn’t help you move the ball down the field. It’s kind of like having that guy on a, on a football team. You’ve got 11 guys on the team and one of them is so mad about his contract, so mad about whatever. I mean, he literally is like, you know, Hey, I’m caring. I’m not going to run the route. I’m not going to do this. I’m not gonna make my block. I really don’t care. I don’t care. You know, because I’m, you know, they don’t, they’re not taking care of me. I’m not gonna take care of my team. So it’s really, you’ve got to really go through the filter of what’s best for the business as always. And then what’s going to be a win-win? What’s going to be a stimulus, what’s going to be an encouragement, what’s going to be uplifting to make this person
Go? I’m happy to be here. I’m excited to be here. I’m looking forward to the future and not the, I’ve got six more months. Josh, do you have any question for West Carter or Z? Because you’ve grown living water, irrigation, you know, from a $300,000 business to a one point $9 million business now and things are going well and I know you want to kind of lock in that future a little bit [inaudible] as relates to your key employees. Do you have any questions for these guys about how to do that? Because both XE and Weston man, I went to the Christmas party. It’s amazing the continuity when you think of it, the woman who made the decision to hire my wife 20 years ago is still there at your optometry clinic. I mean, Kylie is still there managing that business and doing it well. So the longevity thing is huge here. I mean dr Boatwrights building for how long now? At 24. 2324 years. Crazy. I mean, it’s awesome to continuity. What questions would you have her, do you have any questions for Z or way?
I do. We were able to set up the the merit based pay early on from, from what doctors owner said and what from what you said and make sure we’ve got that structure. Good. I guess the big question now as we’re growing and we’ve got a, you know, three really good solid key members is what’s an easy way or a smart way or a whatever way to give them some ownership, sweat, equity, some ownership, you know, I know that doctors owners talked about that. I know that you have a deal like that with some of your people. Clay, I mean however you earned at West over winters King, what’s a good way to do that?
One of the things I like to try to stay away from with business coach clients. Yes, of course. It’s always based on the individual situation, but not give up real equity unless we’re really wanting to partner. Okay. Okay. So if it’s an employee, there are other options. You know, one’s a profits interest where they don’t actually own shares or units or you know, equity, but you draw a line in the sand and say, from this day forward, I’m going to give you a percentage of our increase. Okay. so it’s almost like giving them a piece of the action or to base bonuses a little more on the overall profitability of the company as opposed to just their individual productivity. Okay. So they’re getting similar benefits to equity. It’s just the problem is when you give away equity, unless we go back and we’re really careful how we structure the governing documents, the operating agreement for an LLC or the bylaws for a corporation, we’re adding people that might have a fight with this later on. Or if there is a problem, either with the dynamic or a life change, you know, just something happens where we’re not on the same page. Now we’ve got an owner in the business that we are trying to get rid of and that’s much harder to do than just,
And I have found this, I have found that usually the people that I’ve had bad fallouts with, it’s usually not over a work related thing that causes it. It’s thrown me like they get involved in a bad relationship, a dumb, they make a bad drug, use alcohol use, boyfriend, girlfriend use, something’s going on. And all of a sudden that third part of the new person they married to the new person they’re dating or the new drug, they’re on influences, they’re in office performance dramatically. And or they might marry somebody who now no longer likes you or they might date someone doesn’t like you or whatever that thing is. And now all of a sudden the person who was one way for five years, 10 years, whatever flips real fast. I mean like Z you’ve seen like real fast and then all of a sudden you got, you’re stuck with them on that document.
So a West side is very wise, but I would really would recommend anybody out there. If you’re thinking about setting up longterm equity partners, I would reach out to winters in King or an attorney that you trust to sit down and make a linear path and say, this is the path I want to go down. This is where I want, this is where I am now. This is where I, where I want it to end. Before you get into legal mumbo jumbo, say this is where I am now and in 10 years I want to get here. Wes, how do I do that legally?
Yeah, and that’s right. I mean a good attorney or like Zee mentioned even probably has some accountant advice that would be necessary. It’s about giving you your options. There’s going to be many ways to make this happen. What’s the best option for you both from a complexity standpoint and to achieve the goals so you can have a win-win, right, and wish you, you summed it up really well. I mean you, you need to make sure that if you’re, whatever, whatever plan, whatever path they’re going to go down, and I know this sounds horrible, but you need to plan for the worst case scenario. You need to have that prenup in place if you will, in your business exit. So exit strategy. So you, you make a deal with one of your PR, one of your employees, you, let’s say you juice them in on some sweat equity.
So they actually have some stock in it, but it has clear language in there. What happens if they don’t longer work there? If they go through a divorce, if they go through X, Y, Z, you cover all those, all those things. And they agreed to it. They sit down with the attorney, they ask questions, they sign the form witness, boom, it’s done. You have a legal binding document that, and now you may say it’s all, you know, it’s all warm and fuzzy now and there’s rainbows and unicorns and leprechauns and a pot of gold and it’s all fun, warm and fuzzy now. But it’s very important to understand that when you’re dealing with your business, if you do go down the part of stock or equity, you need to make sure that you have an ironclad riding ironclad. What happens if, if the unknown happens, what happens if, if, if that person passes [inaudible], what happens is the stock. Okay, so you might have a life insurance policy that the company buys it. That covers that. You know you, you want to say, well, we already, here’s the value of it. If you get fired, I can buy it back for this. It’s already set up
Certain Western, you think of all these things with you
And you don’t have to, you don’t have to come up with all the scenarios. You just have to find a guy like Wes CPAs, some people out there that have done it before, understand all the loopholes in it and can button it up and you’re right. For some employees that may be one of the moves that I do is I, I’m kind of a entrepreneur, so my longterm guys, I said, listen, you can’t buy a piece or own a piece of what I already have because we can argue about the value of it all day long and I don’t want to do that, but as we go forward, open up a new business, then I can let you buy in a piece of that. If you want to gamble with me and have some fun opening a new business, come on, come on, pony up some money, let’s go, let’s go do it.
And that’s what they’ve done. So I’ve got some guys that work for me now. Golden handcuffs are not, they’re making as much money. You being a doctor for me, for example, as they are on the investments that they’ve done with me in other businesses. But in these other businesses, it’s very clear that if they don’t work for me any longer, I can buy them out. If I choose, I don’t have to. It’s my choice. I can buy them out for what they paid for it. That’s the value of it. So you have a very clear, you have a very clear exit strategy for you. For them. They understand and yes, you as the business owner, it’s kinda like the landlord of the business. It’s going to be weighted towards you, but you wanted it at least weighted enough towards them that they’re happy about it and they sign on to it and they see value in it. And you know, it’s kind of like anything, you know, as long as, as long as the relationship is still going good. Didn’t say it didn’t say that. It’s a wonderful thing.
Never, ever underestimate the value of hope. I mean, it essentially is what you’re doing. You’re giving the employee hope for a better future. Hope to do something that they’re not doing now that they want to be doing maybe. And when an employee’s thankful, it’s very hard for them to be angry. You can’t be thankful and bitter and angry.
Oh wow. That’s good.
And so, you know, basically what you’re doing is you’re giving them hope that if we can do these things, you’re going to make more money or you’re going to have more opportunity or you’re going to have hope for something that you want in the future and that hope is very powerful.
Yeah, I liked it. I like to that was that. That’s great. You can’t be hope, hopeful and angry at the same time. That is that. It’s awesome stuff. See, I have a, a final question for you as we wrap up today’s show. Just kind of a secret. Okay. How much money is boat right making off of that underwater basket basket weaving company you have, you know, the one that teaches people how to do the underwater basket?
Well, you know, this last year with the Epic flooding we had, it’s a lie. How much money is he making? A lot now because a lot of things are under high watermark. Really hit pretty high. So we’ve been there, we’ve been there. There’s a little West people.
I just noticed that boat looked extremely grateful and hopeful at the party. He did not look angry at the party. He didn’t. And based on West thing West to saying, you know, people, a lot of times you have a hope for the future aren’t angry. They can’t be angry. And I thought, well, he was looking pretty happy. I mean, he’s gotta be, he’s, he must be making a killing off of his investment into your underwater basket weaving business. I tell you what, don’t ever, don’t underestimate what an underwater basket weaving business can. How has the Trenchill ranch going the, you started spreading spiders in love all around. What about that, that, that, that then eventually, I think when you invested in that thing where you can drive right through the middle of a tree, that the scene, it’s like a Redwood tree. You can drive right through the middle of the tree scene. You know what? Don’t underestimate. Don’t Endress and value of being on a drive to a tree. That’s, that’s the alligator. Is the alligator ranch going well, Oh, who doesn’t
Know this little fried alligator? By the way, I was driving, we were looking to buy land and my wife and I were driving way West and we literally drove by a snake farm. The snake farm. Are you saying when you say way West, what do you mean way West? Let me look up like you’re in, you’re in LA. I mean, I don’t know. How far West are you? I was a little bit off the st Andres Kirky Albuquerque by morning. It’s called a snake farm. So it was there. Wait, where’s the profit? I mean, I don’t know what, that’s what I’m saying. It’s gross labor of love. We talking about snakes, right? There’s a lot of money in snakes. Really? Oh no, I don’t know. I don’t know. Oh, I don’t know. You’re driving around and it was like, wait, wait, wait. Paul put it. It went South.
There you go. And you pay a fee to go look at snakes or you buy snakes, make snakes, snake farm. And I thought to myself, what the little is a snake farm and I was not curious to go in. I’m like, get me outta here. And really I have to know now we’ve got to get this info. Had a little sign. It said snake for him and I’m like, [inaudible] Google it right now. Snake farm. He said, I can find any information about a snake farm. What it is. I don’t know if if someone just tried to scare away people going, Hey, I was just the name of the farm, why do you call it that? And it’s like, well my name is Billy snake is sick. I was just, I hate snakes and I just was curious if you had invested in that kind of business would not yet.
I haven’t really researched it, but I mean I’m open. I don’t say no until I know what I’m saying. No to remember that. Remember that anybody listening out there don’t say no until you know what you’re saying no to. So that’s a great point. That is. Yeah. I mean listen, you know I have some, I’m doing a couple of dinners this week. People want to pitch me something. I’m like, why would I say no? It’s kind of okay, you got my interest, you got my whatever. It’s a nice dinner. I turned my favorite restaurant so you know, I’m going to eat anyway. So might as well as to do their, you know, their shark tank pitch on. It’s fun to listen to it every now and then you kind of go, okay, boom, let’s listen.
Well if for lawyers out there, one of the things I learned early on was don’t ride off potential business coach clients just because they sound crazy because most of them are, a lot of them are, but every once in a while when you start digging into the story, there’s really something there. An opportunity, a real case. You know, someone comes to you and has this gigantic vision for a building they want you to do as a builder. I mean, sure, you need to listen, just hear him out before you say no.
Yeah, I mean nine times out of 10 they are crazy. I mean one time that one time,
Both of those dinners or both of those dinners for snake farms, is it like a Cobra farm and like a [inaudible]
Then their whole pitch on me to propel Cobra is the deck I line up. I have a, a one quick, a final, a little exciting news for the listeners out there. Okay. We just booked David Novak, the former CEO yum brands
As, I don’t know if you’re, you guys are super familiar with David Novak, but David Novak again, I’ve read his book called the accidental CEO phenomenal book and he recently retired two years ago. But let me give a little fun factoid. Did these guys run taco bell, KFC, you know and the, the big fast food chains, he grew the value of yum brands from 4 billion to 32 billion as the CEO. Unbelievable. Pretty awesome. We have him booked. John Maxwell reached out to be on the show. Again, John, I’m trying to book it on a day when you’re, when you’re going to be here or a time. One of the times you pick the book, these a big fish and all the times they’ve got a lot of stuff going on and they’ll say, can you do this time? And I’ll, I’ll, I will move the battleship to accommodate a lot of, kind of more last minute cause there’s a lot of details, but just let me know.
Promise to ask him. One question for me is always stuck with me. The weirdest thing. Do you remember the old Wesley Snipes movie demolition man? Yeah. We’re the only restaurant in the whole world lab was taco bell. Yes. Taco bell had bought out every other restaurant in the whole world and the only restaurant left was taco bell. And it seems like yum brands is on that road. Taco bell slash KFC now. So you want me to ask KFC pizza? I just want to, I want to, I want to hear what his thoughts are. I mean, I know that he still does some special promotions to celebrate demolition man. So what is that goal? Yeah. Is that his goal is to take over every restaurant, no unit. What’s the question? You want to know what I’m typing it right now is yum brands. Is the going to take over every restaurant brand, entire planet to take over the world? Yes.
To take over the world. Like the plot of or like, like, like, like, like in the movie demolition man in the movie. Demolition man.
Okay. I’ve got the snake farm information on the screen. I’ve got, I’ve got it. I’ve got it. I’ve got it dialed. Airy. It’s in. It’s in West Tulsa. Oh gosh. Snake farm. It’s a, it’s a white dome and the gentleman built it. And on it he has state farm because he used to show he had snakes and badgers and all kinds of critters back there. They moved here in 1970 and built a 41 foot diameter dome a few years later at that time, Keeling house, a menagerie of animals, snakes, alligators, skunked, badgers. Porcupines people would bring their kids out to the zoo. All right. What are you Google searching to find? Hold on. This is crazy. After a while, just tell us Tulsa world. After awhile, King said, I got tired of burying old friends. In other words, the animals that pass, so the animals gave way to a new passion.
1985 he started growing cactuses a year later. It was an obsession and so now there’s no snakes in the, in the building. There’s no badgers, there’s no alligators. It’s all about cacti or cactuses. I guess cacti is the right word, but yet it’s still known as a landmark that people say, I live South of the snake farm I live. They even said pilots have even talked about it’s 41 foot white domes, kind of a geometric dome and that’s kind of cool right there. This article was in March 11th, 2012 they talk about this, so yeah, it’s a snake farm on the deal, but they don’t have any snakes there.
Currently. I got the willies rash that I was like, Oh man. Just think about the kind of person in your mind that would see a snake farm sign and stop and go in and what their reaction would be when they find out. The only thing there was cacti. Yeah, that’s no fun. I kind of see Joe dirt like Joe dirt likes driving down with the family. He’s like snake blur. You know, I saw his snake, David spade came out and performed with Adam Sandler live in concert at the river spirit casino. Totally. David spade comes out and he goes, all right, Tulsa and everyone’s woo. And he’s like, thank you for making Joe dirt possible. And then he runs off. That was like his little jab at the audience. Oh yeah. And they were all just like, they didn’t get it. Woo. There we go up.
So Joe dirt, that’s a great film. Beyond being a good movie. It’s a great film. Trapped into all the Adam Sandler’s tribe. AGB Wayne. That’s it. That’s a box set everybody should have. You should get that for Christmas to everybody, even though pretty big box. That’s a pretty big box. Oh, and all like awards this year. Now if we go on in the world where I’m Sandler’s winning best actress, Oh my gosh, now he does two Oscars. He is, he loves. Yeah. Adam Sandler encounter Reeves in any movie. It doesn’t matter what it is. Well, the nice thing about Kiana reads is it gives me hope that I can be an actor. When I see him, it’s kind of like kind of like a [inaudible]. Don’t come over here. Here I want to book hello and tell about play. I want you to say an emotion and I’m going to look at the camera and I’m going to be, I’m going to, I’m going to do my best counter Reeves and I’m going to do that emotion. So just hold on a second. Let me get, let me get in character. Okay, that’s the doctor. Give me any emotion. I’m looking and I’m going to do my best. [inaudible]
Scared cause you can’t find your keys and the cruise boats leaving soon. See there you had a deep, bad, terrible thing that happened to you and you, you’re not sure why this rash is growing, but soon you, you fear for your life, wiggle it, your getting married soon and for whatever reason you cannot find the tuxedo that you, that you bought and your future mother-in-law surprises everybody and shows up and saves the day by giving you a tuxedo that’s better than the one you were going to rent.
No, no, no, no, no, no, no, no, no, no, no, no. Duh, duh, duh, duh, duh, duh, duh, duh.
You ate the blue pill. So good. It’s so good. This is why we have a video version of what it is. God bless him so I’m like, he gives me hope. I can be mad that he cracked the code. He cracked the code. Did he cracked it and with that before our heads explode, but let’s let the in his shoulder, boom. You are now entering the dojo of mojo and the thrive time
Show prep time show on the microphone. What is this top of the iTunes charts in the category of business ribbon down on business topics like we are a dentist provided you with intership like all of the Clintons and we go so past that you might get motion sickness rather pinning pad to the Bab that’s endless. Stump the best. Some fruit, like some flower to open. Three, two one here come the business Ninja.