John Lee Dumas on the Thrivetime Show? | Big Wins in Thrive Nation

Audio Transcription

Now, on today’s business coaching show, we’re talking about a topic that is near and dear to my heart, Z. Today’s title. The title of today’s show is John Lee Dumas, on the thrive time show, bragging rights and celebrating big wins in thrive town. I love it. John Lee Dumas, arguably the number one podcast of all time, has agreed to be on the our business coaching show, the thrive time show and why would need so in the not so distant future, we’re going to have him on the show. This is the guy who brings in over $130,000 a month of profit doing his podcast. This guy is diligently podcasts for over seven years. A man who served our military honorably and thought, you know, I should do a podcast. I should do a podcast. And so now after 2029 podcasts as of the time of this recording, John Lee Dumas in May alone made a hundred and $53,000.

He had a goal to move to Puerto Rico and he actually did it. So now he broadcast his show from Puerto Rico. I forgetting how the army, he enrolled in Roger’s arm, Roger Williams, university school of law in Bristol, Rhode Island. They dropped out after one semester and he decided to take a job working in corporate finance for John Hancock in Boston. He then went to New York City to work for a technology startup before leaving to move to San Diego in 2009 and 2011. He moved back to Maine to start a career in commercial real estate. Then while doing that, he thought, you know, Gosh, I’m driving to work every day. I’m listening to podcast. Nobody’s doing a daily business coaching podcast daily, seven days a week, z. nobody’s doing it. Nobody’s doing a daily podcast. And like a great businessman, he found a whole any filter, right? He found a need, any solved it. He said, here’s the problem. And I’m going to solve it. So we continued to grind away launching his podcast on September 22nd 2012, and as result of his passionate delivery and being rejected by hundreds of people, thousands of people, he is now built the world’s number one podcast. So on today’s show, as we celebrate big wins and thrive town, I want to, I want to get your take on this week. How many banks rejected you when you wanted to start? Dr Robert Zoellner and associates. Because you want, you graduated from Zeke. Can you State University? You graduate

from 1990, 1990. And you went to the banks and you said, I found a guy that we went under contract and I was going to buy his practice and I would like to queue up the storytime music so you could show the story. So here we go. Without any further ado,

this is Dr Robert Zellner rejection story. So as a young man of 25, 25, I was freshly annoying to doctor or you know, almost a doctor Dr. Schmidt’s report eight years. And uh, I found a guy that wanted to sell his practice. He wanted to retire to the link, absolutely. Why Not Grand Lake. And so we put a contract in that I was to go and get a $250,000 to buy his practice. Two hundred $50,000. Big ones, smack rudy’s rudeness, solid ones. Big solid dollars. Dollar dollar. It’s the deep man I’d be pronounced. It could be all hours of silence, silence. So I put on my best suit, which I didn’t have, but I put out a sports jacket. Hey Ty Cleveland, browns jersey. Waited in connection with those little suck ties back in the day. Those were cool back then. Now kids, I’m sure that millennials probably bring them back around. Okay. Back in the backroom. Marshall has a couple. I’m trying to throw mine away. Same everything folks. And I hadn’t and I thought my secret weapon is, is I take in my briefcase with me. Case was it metal, Samsonite, serious case.

Once they saw that in my sock tie you were issuing. I was just trying to get the best rate now. All right, drop the mic. I had security called on me three times. I was forcibly tossed out twice. I had the door locked behind me once. How many people actually throat punch banks agree. How many times answer the question, how many bags side to give you the money you needed to start on? None said no to me because they said no. They said, oh, we would love to give you the loan. We, we, you know, we love to support. We love, we love support businessman and nice tie. By the way. It looks like a sock. Is that a samsonite? How many banks rejected you? My man I did. They would ask me the question that say every one of them did, but they ask the questions.

So what do you have for collateral? I go, I have this nice sock tie and now when you say collateral, you me like a, like a height. Weight. Body is collateral. My body’s a wonderland, right? Yeah. He goes, oh my. I actually found one bank, one bank took a flyer and said, okay, here’s, here’s what we’ll do. We’ll do it on you. We’ll give you the money, but you have to. It has to stay in the bank in a CD for six months before he can get it. And we have to. You have to promise that we could have your body add your soc one weird guy, Mike. Promise. Samsonite, can I touch your briefcase? Zip Code is. That’s what I thought I’d done. Pretty good. I thought the last bank I went to and um, they took a flyer on me and so I went in and told him that he goes, nope, that’s not our deal. Nope, I’m not gonna wait six months so you might not make it and I don’t, you know, we’re done. And I was like, when I went out and did something crazy, I got a job. No Way. Oh Travis.

And then finally delaying gratification, saving money. And about a year, year and a half later, then Bam, opened up Dr Robert h dot Zelner end. So when you opened it up, Dr Robert Zoellner and associates, a lot of people out there who are listening. We have a lot of our, you know, I’d say a 99 percent of our listeners do not have a business in the Tulsa area, which means that if you want to type into Google six, nine, nine south memorial drive, six, nine, nine, nine. So six and the nine three times six, nine, nine, nine south memorial, you can see your optometry clinic. Um, how did it costs a lot of money to buy that officer? Did you start? You start initially when I started a strip center, very small, a very small office. I forget how many square feet. It wasn’t big. He was like, I mean it was small, right?

A little little, little hallway and then it had two, two exam rooms I use as an office because I could only afford equipment for one. I’m going to start it. And uh, so when I’d walk in and go, just load them up with the other room. We’re so busy, crazy associates. All my associates bead what person that worked for me. Um, and in the way that it was designed, it had this little kind of a little bit of a hallway. And then a little bit long hallway and uh, so you could kind of see them coming and I’ve got one, we got one, but I remember sitting on the couch one time thinking, Oh God, I got one, I got one, I got one customer here, guard go, I do printing. And I wondered if you guys do any printing needs. I’ll be like, oh, like the fake customer coming in to say something.

Oh, I know. Yeah. You’re saying because you’re smiling, they’re smiling that you’re smiling. How many years have you been in business before you decided to build these? Six, nine, nine, nine South Memorial office? Well, I started in [inaudible] 91 and I built that building in 2000. So that was nine years. Nine years. If you could explain in a general way when you decided to open that memorial location by the mall, the largest and most successful mall in Tulsa, Oklahoma. Was it hundreds of thousands of dollars? Was it millions of dollars? What did it cost to build? This is 2,200 money. So what happened was is that I was looking for a site location to build a freestanding building and I love that site. And so I contacted my real estate agent. They said, man, there’s already two contracts on it already on it. There’s a contract that’s standard backup contract as your agent. I want you to get about it. It’s already done. It’s already done. It’s done deal. And I said, I said, do you know what? It ain’t over till it’s over. Put the third contract in on it. And they’re like contract.

So then not too long after that, the first one failed through via financing. It was $300,000 for the log, that half acre lot right there on the corner as you said, of the mall. And it had been there sitting there for over 20 years. And as you go, or you may not know, sears built that mall originally. That’s why sears has. That was the main entrance. And when you pulled in, you just, all you saw was serious, right? Shockingly enough, somebody the bank told you know, and then these, these real estate agents said, no, it’s, there’s already multiple contracts. No one fell through. What happened next? Well, so then what happen is the second one was going to be like a Jiffy Lube. I think it was a quaker state. What it turned out, it would have been a great quaker state law, but the pub, the planned urban Pud Pant, urban development together said that put on that corner that you, if you’re doing any, if you’re doing automotive stuff, you had to get the write offs of the other companies will.

Those are big companies. You have a long John Silver’s there, you have a denny’s, you had a Taco. Bueno. And those are big corporations that have to sign off on this. They have to sign off on the Pud. So quaker state starts running it up the ladder. These companies, of course, they’ve got some in their company and then somebody over here and the next thing you know it’s, I’m like, you know what? That contract is only good for. They’re supposed to close and until they get that signed off, they can’t close on it, you know, it’s getting closer and closer and so these people aren’t down with a Pud so that the credit states, it’s a, it’s a lady lived down in Dallas that had it for sale. I think she got it in. Her husband was going to put a burger place on it, a burger time and they get a divorce and she ended up, he ended up with it.

Um, I don’t know if that’s accurate, but that’s what real estate agents. It felt good. It felt good. It’s a feel good story. Right. And so what I did is I just, I called her, you called her on the phone. I picked up a landlord saying that you did not let somebody else control your future, that you actually picked up the freaking phone and made the call yourself. I, I called her on the phone and I said a few things. I said one who I was and my history in Tulsa, what I wanted to do with the site, what my plans were, and also that I offered 10 more thousand dollars in closing 30 days and she said, you got it deal deal. So you actually got a deal done when your real estate agent couldn’t get a deal done. Some, hey listen, sometimes you got to get her done and I got her done and I called her up and I just, you guys just played on her emotions. I was just like, Hey, I’m, you know, I’m, I’m a small businessman here. I’m an optometrist and here’s my story and my family and I grew up here and, and I want them with this. What I’d like to do with that site, and this is the teaching moment for the listeners out there, and I want everyone to write this down.

Nobody cares about your future at all like you do except for God, because even like the person closest to in your life. I’ll go, I’ll be praying for you, but really do they pray for you? Twenty four slash seven. So Cory of Trinity Employment..you are a business coaching client. How did you start trinity employment because nobody gave a crap about your vision, but yet you decided to turn it into reality. How did you build Trinity Employment into these successful company that is today? Well, I, I also was employed. I was working at a job that I didn’t like and they were asking me to do something that I felt like was unethical. And so to some extent my back was against the wall, not I had to figure out something to do and I had, I had a mentor that, uh, that I went to go visit. Not, it seemed like for me, my, my experience was a little bit different than cs because I was fearful of everything. I didn’t know what I didn’t know.

And so I was just coming up with all these reasons, all these things that could possibly happen that were bad and I would express this to this, to this gentleman. And he met with me once and I asked him to meet with me again and in and I said, so what do you think can. He’s like, honestly, I think that you would be one of the worst entrepreneurs ever. He said, you’re fearful of everything. You’re trying to come up with things that don’t matter right now. You’re thinking about the wrong things, and this was where he really insulted me. He said, you know, your wife I think might be okay, but you said you would be horrible. Don’t go do it. And for me in that moment that that was just the thing that I needed because I was like, bull crap man. I’m going to go make this happen.

So that next day I quit my job and I started trinity and it was just a bulldozer mode of forcing it to happen. Now when we come back from the break, Cory Minter, we’ll share the trinity employment story and how he started the company after being told from a mentor that he did not have what it took to be successful. But Chuck, during the break, I encourage all of our listeners out there. If you’re saying I’m paying too much just to my printer and office supplies and I want to say both time and money time and having my office in printer supplies delivered to me in a printer, I encourage you to go to onyx imaging.com and check what do you give the first time customers? You get a free copier printer. If you sign up for office supplies, supplies with onyx imaging.com, and now back to the business coach radio show that has a diary. Call the Guinness Book of World Records

started from the bottom and the top teacher systems to taxes on the books. I’ve written the books. See we get some wisdom and the bad so my wife and kids and see according to your now back to the thrive time show on your radio and if you’ve started from the bottom and you found yourself now at the bottom, let me tell you, I can relate to that idea. I can relate to what it feels like to be at the bottom and to try something and to be rejected by most people. Dr Zoellner can, can relate to what it means to what it feels like to be, to start at the bottom and to become an optometrist and then to be rejected by every bank, every bank and business coaching client Cory Minter, uh, here with Trinity Employment Acore a year now. A success story. A lot of people in the green country, Tulsa, Oklahoma area, know who you are, but can you explain, can you kind of get back into your story where you were telling us where you had one mentor that you’re meeting with who told you you probably didn’t have what it took to be successful as an entrepreneur to start your company?

 

Trinity Employment? Yeah, he, he told me that and it just irritated the fire out of me. And so like I said, where I left off was I quit my job the next day and I started trinity. And so I’m sitting at my table at my kitchen table and just working on the business and really like just acting like a bulldozer and having to force my way into an industry that at the time there was about a hundred different staffing agencies out there. And so I look young, you know, your audience doesn’t know, you know how young I look now I’m 43, but at the time I looked like I was 22 and so trying to get a large organization to try to trust me. It was weird. But you are 43 but you look like you’re 27 z. does he not look at his 27 or my knees? Very immature man.

Very, very immature boats. What about greatest quality? Yeah, it is a superpower. But some guys want to say thanks to you guys want to fly. Some guys want to have lasers shoot out of the. Can I say this? He just wants to be super mature. There’s a lot of people that feel like Kim Kardashian released a adult tape to get attention. You know, people say, people say a lot of people will release a Tafe to get attention because they did. They know that Z, the Z sex sells. And I would, I’m going to call corey out here. Corey is using his body to. Because he is such a beautiful mass. Young’s don’t realize how, how beautiful he is. So for the listeners out there who haven’t googled Cory Minter, min, t, e, r, Google according to go back to your story, but I just want to say you are like the Fabio, you’re like the romance novel cover or entrepreneurs.

Okay. That’s exactly what people are going to see. But back to you and your story, but I’m just saying you are a beautiful man. Oh, thank you very much. Yeah, sure. Very, very powerful empowerment. Yes. Yes. Um, and, and so we just began working on this. Well, one of the things that was interesting when I was very first beginning was that we would, uh, you know, in our sales cycle we have to pay the employee and then wait to get paid back. Well that was something that was really interesting to us because all of a sudden we had to front up, you know, you know, 20, 30, $40,000, you know, up front before we got paid back. And there were times clay where we, if we didn’t have $20,000 come in the mailbox like that Saturday afternoon,

I didn’t. I don’t know what happens when you don’t make payroll, but it’s, it can’t be good. And so I got it. I got to believe we were getting ready to go down, but man, I would, I, I’m telling you, I hit my knees, I prayed to God, I asked God please, you know, somehow make 20 grand rolling the in the mailbox and at that time $20,000 was just an astronomical amount of money to come in the mailbox at one time. And that, that happened a couple of times and you know, we, we just got some ground and took off. I mean, this is something that we just learned. We, we’re now in inc magazine. We’re going to be coming up in their August issue. August. Yeah. Is One of the fastest growing companies and we don’t know where we rank it, but we’re excited to learn. So I mean, God’s blessed us. Remarkable. You know, abundantly.

So more Marshall out there, it says, God, you know, someone’s out there says, God, she mad. I’m not a big God guys. Someone else has. Another listener says, you know, I, I do believe in God. I believe in the Bible, the Judaeo Christian worldview, let’s just say someone does or doesn’t. Either way, I want to brag on another thriver out there, a guy who grows a company called mod scenes. Mud scenes is a company where they make backdrops for churches specifically, they make the backdrops for life church and they are a Christian owned organization, but for all the listeners out there who aren’t, aren’t Christian, um, either either way, mod scenes is a business coaching client and was able to implement a system called the dream 100 system. And the dream 100 system was first written about by Chet Holmes in his, a book called the ultimate sales machine. I’m gonna. Read the notable quotable.

I don’t want you to break down what it means and why this system works. Whether a listener out there as atheist, agnostic, Christian Judaist, a Jewish or Buddhist, it works. He says, about three percent of potential buyers at any given time are buying. Now, seven percent of the population is open to the idea of buying. The remaining 90 percent fall into one of three categories, the top third or not thinking about it. The next third are think they’re not interested, and the final third are definitely not interested. Marshall, why does the dream 100 system working? Why did it allow mod scenes and coach abby to coach her client to another win with a $12,000 deal using the dream 100 system? Well, the dream 100 system is so magical because it gets everybody into the habit of contacting the top 100 dream clients. Not every client, not every possible client, but the top 100 dream clients.

These are clients that it would just be magical if they started sending you more business and it gets you committed to the rejection. Not The winds, but the rejection. So what’s the hardest part about going after the three percent of the top 100 people? Well, it’s the 97 knows that you’re going to face in route to get there and that’s discouraging for a lot of people, but if you commit to that as being part of the process and part of the routine in your championing the nose and you go through that and you use that to fuel you, then getting those winds as part of the dream, 100, that three percent is going be to be so magical. So a big shout out to a modern scenes. You just closed that $12,000. Deal, dark, dizzy. When we. When we get back from the break, I want you to share how it at Czi, 66 auto auction, how you guys relentlessly pursue the used car dealers within northeast Oklahoma. Lot of donuts being bought dot promise you that. I want you to talk about that. We come back from the break, but before we do that, I want to talk about Paul Hood and Hood Ceo. Great Guy. Z are shaped to you don’t need that fitness contest. You and here at the same age and you’re in great shape, but that guy has checked Z. I mean he’s like 52, 53 and he is Jack. Can you talk to meZ , why it’s important to have a an accountant that you can trust.

One of the most important things that you do in business is make money and then accounting for the money and having a good p and l having a good tax plan, having a plan, not a. What do we do now? What happened? I thought I was bearing enough in the back yard, so the nice thing I like about him, he’s proactive. He’s like, Hey, let’s let’s be, let’s attack this thing

and if you’re looking for a proactive accountant, we encourage you to check out hood CPAS DOT com. [inaudible] DOT com. Do you have to actually apply effort? Yes, but if you’re looking for an accountant who is proactive and will lead you down the proven path, go to hood CPAS DOT com

today. I remember my days back to the template to try to consume for the future that I can pursue what? From the mountain top, now I can do clue that you have what it takes to your success. You today,

make sure you never miss a broadcast by signing up for the thrive time show podcast and back to a show that’s cooler than the other side of the pillow. It’s the Thrive Time Business Coaching Show,

Dr. Clay,

welcome back to the thrive time show on your radio and for those out there who are looking for for some encouragement today, show is really any bragging rights in celebrating big wins in thrive town show and the guy’s singing the intro to our radio show in our podcast is, his name is Colton Dixon. Now Colton Dixon is a top 40 Christian music artist who soon will have a top 40 album out and I’m telling you what. This guy is so talented, but he’s a grinder z. Why is it so? Because Colton is. Is is talented? Yes, but he’s a grinder. In fact, this weekend he’s flying to Tulsa and he. I will be spending about 15 hours together in the man cave here at Camp Clark and chicken palace. Helping to revise and update. Some of the new tracks for the new album. Can you explain why sir? You’re going to do some rise and grind and make some new track?

I am. I’m going to be working with Colton and I. I’m, I’m a, he’s the Kinda guy that says, okay, yeah, I’ll come to Tulsa. Let’s do this. He’s a grinder though. I mean he’s a grinder. Can you say to explain why the, the whites not good enough to just be talented and why you have to grind before we get into your.

There’s a lot of talented people out there and there’s a lot of people out there that I have made her matter of fact, maybe a better skill set than you. You were just talking about cory superpower in the segment before. If you missed it, go back and catch the podcast.com. His superpowers big, super immature, which is kind of funny. It’s kind of funny, but the thing about it is that someone can be more talented, but you can out hustle them. You can outwork them and I know I’m not the smartest optometrists out there. I know there’s men in white towers that are much more learned, a much smarter. They have rich bound leather books or Mahogany bookcases. Do they have the inherent sexiness? Probably six that they have a white lab jacket, fish starch. Every single boise use. You use your body to say the fact that you don’t wear anything under that white men.

Whoa. To keep that, to keep a show to say something like, why Corey put the cue cards up. It said that I want to get your Dr Robert Zoellner and associates. You’re not the first person to come up with the concept of optometry. Correct. And it’s your auto auctions. East 66 auto auction, so it’s not like the used car dealers in Tulsa are going, oh, thank God we finally have an auction in town and I tell you what, why? Because I didn’t know where I was going to buy my car. You’re not the first person. So many people look for a niche that isn’t oversaturate. Oh, here it comes. But you moved into a niche that was saturated and Tom, are they about how you use the dream 100 system and the and the relentless maniacal focus that you expect from your salespeople as it relates to following up and earning the business of used car dealers. When I see my sales guys, I always asked them a question, who’s your top 10 top 10 you’re going after you talking about my top 10.

So that’s part of the dream. 100 will all I was looking at like all of them really, I don’t, I don’t know how legitimate your top 10. And then I say who’s your number one a lot. Or sometimes if I don’t have a lot of time or don’t wanna sit there and listen to them, you know, ah Ah, you know, I’ll say who’s your, who’s your number one draft? Pick Jamis Winston. Who are you good at? Baker Baker. Mayfield Bacon makes pick a big shout out to Marshall on the team. Oh, bringing me a baker. Mayfield Jersey Brown. That Brown Brown. I’m now down to wolf the dog pound backpack. Hope he leads them to a season where they at least win two business coaching games. That’d be nice. Nice. He can. He can only go up. He can only go up. Only go up. They could lose both. When I asked him that because that’s where I want their focus to be. Who is that guy? What do they. What are their bells and whistles were what it takes to turn them on. What are they like where they don’t like and you know what? After a period of time if you can’t get them gathered up, I’m going to put them on somebody else’s list. So at your birthday party, my birthday party, we’re turning 52. Happy Party

was at Mingo 101st. What was the name of the restaurant there? A rich grill. Rich Grill and we’re at this great restaurant and one guy got up to toast you and he actually was on debt dream 100 list. This is a guy who is a car dealer? Yes. Who I believe he. He runs the lexus dealership on the used car side. He’s, yes. Lexus. And he explained to me and everybody in attendance at your birthday that first you are marketing to him and now he’s a loyal buyer from the [inaudible] 66 auto auction. But in addition to that, he’s become one of your good friends. How do you take somebody from being so you’re randomly your. Your team is randomly cold calling or dropping off donuts and visiting. How do you take that person from being a prospect and how do you turn them into a friend who’s willing to stand up and share a toast about you as your birthday? Well, how does it happen, man? Well, how it happened is this first year purposeful, you decide you want to do it and then two, you find out what these guys’ buttons, ours and then you, you,

you. If you are a genuine human being, then you care about that and you want to listen and you want to participate in the things that they want to participate in and then you spend and then you give them the most precious thing that you have. Let me hit my button one second.

Oh, Corey thought you gave me. You gave me, I can’t give me away one hour. It is super easy. I think there’s a notable quotable from John D Rockefeller. He says, a friendship founded on business is a good deal, better than a business founded on friendship. You can go and so then you become, you start hanging out with them. Then pretty soon after, while you kind of go on now there had been some car guys that I have gathered up that I have then chose not to be personal friends with him. Um, and, and that’s okay. We still have a great business relationship. I just don’t spend as much time with them. I say no because of other things they want to do that I don’t want to do. But he and I overlapped. What’s your, what’s your term about the overlapping stuff? So Dr Zellner this weekend. One thing that I’m into his cock fighting. So I thought one thing we could do is we, again, we could watch chickens fight each other when that uses to the end that get you, then we’ll go to the dog. And so really what I’m into right now, but we can still say a car.

Here’s a box of donuts. It’s a nice rooster. You got the baby, you, you’ve built relationships with your buyers and that’s what you do at the auto auction. I mean you guys don’t sell. How many cars do you sell? Typically on a Friday at 900 to a thousand cars and sell 60 percent of them, which is the very high strike rate. I think last we were at 67 percent, which is unheard of. Our auction is just found a sweet spot and it is, it is. It is doing very well. And I have a great team and just a great. Everything about it.

Yeah, it’s stupid shit. Hey, what’s up Mani? Monte runs these 66 auto auction. Yeah, he’s the head Honcho over there and a great American and a beautiful guy. Peter, the haircut is on point every now don’t, don’t, don’t derail me about the physical beauty of Lante because I could spend an hour on that right there alone. But we’re going to talk about now week. We come back from the break is scotch construction. This is a thriver out there who’s decided to run ads online and specifically they’re running ads on facebook in addition to their other online platforms and z. They closed a $2,000,000 deal fells Texas as a result of their online advertisement. So we come back from the break. I want to get your take on the importance of online advertising and just advertising in general and why you simply cannot stop advertising ever. If you want to become a successful entrepreneur, why turn key?

Consistent advertising is essential. and now back to the business coach radio show devoted to making America boom again. It’s the thrive time business coaching radio show.

No complaining, no excuses. You’re the Oh, the breakthrough. It’s a choice of dollars, dreams and other things. You without a doubt, that was Friday,

bottom, and now you’re still somehow near the bottom. You’re not an idiot. You’re not a loser. You’re just somebody who needs some coaching and we want to help you to become successful. So therefore, I’m going to talk to you now during this next segment about the importance of doing what one of our thrivers out there did in new braunfels, Texas. These guys, their coaches, clay stares. They decided to advertise and they haven’t advertised a lot in their previous history. It’s called Scotch construction, Scotch, Scotch, Scotch, Scotch construction, Scotch, Scotch. And they closed a $2,000,000 deal from a facebook lead. So Z to quote Henry Ford, the late great entrepreneur and the founder of Ford Automotive, a man who stops advertising to save money is like a man who stops a clock to save time. Can you explain to me why? If you want to grow from a little past ness and to being a person who has time freedom and financial freedom, why you absolutely have to spend a set percentage of your gross revenue on Advertising, Dr Z, explain why you have to advertise consistently.

Because if you’re not growing, you’re dying. I mean why? You always make me say the main thing? Because it’s. I asked you that, I asked you the direct things you asked me that I asked him, can you be honest, and therefore it comes across as, yes, yes, yes. And what happens is, is that some people go, okay, we’re busy enough so we’ll stop advertising for awhile, but the problems, you lose momentum, you lose the momentum of the advertising. And so then we go, oh my gosh, now we’re too slow. Start advertising again, and it takes a while for it to catch back up. So now all of a sudden you’ve lost 30 slash 60 slash 96 months, maybe a year. And they are stuck with certain clients that are ridiculous with. I’ve been open 26 years of optometry business and I have kept advertising all 26 years kept, kept, kept the gas going, my car kept going forward and every year we’ve had an increase. What percentage? Because Michael Levine, one of our thrive time show guests, the guy who’s the PR consultant for Nike,

uh, for Michael Jackson, for Prince. He says that a successful company, according to his research, as a PR consultant, spins, if you’re aggressive, we’ll spend 11 percent of your gross revenue on advertising. And if you just want to maintain turnkey, you know, financial freedom, you want to spend at least five years percent. What percentage of your gross revenue do you recommend that all the listeners spend on their advertising budget? When I started, I spent 10 percent. So if you were aggressive, right, there’s this category and I didn’t make much. I know it didn’t make much, right. You know what I mean? It’s kind of relative dollars. And then after a while I figured out what it took to Saturate Tulsa, my market. And right now that’s about three, about three percent, three to four percent of what, um, of my gross. Now you’re a memorial location by the mall when you go in, it says, uh, uh, there’s a certain limit, a number of people you can have in there. And it’s kind of hysterical because it says on the door, I don’t know what this says. What do you remember? What the limit on the door. But it says

how many people you are allowed to have a billion people in there. I think it says something like 180 something. I don’t know if fire codes. I forget. Yeah. All I’m saying is you’re right near the verge of being always as full as possible if there’s no. But seriously, you’re always filling over that number. Yes. Yes. We try to be. So I have a West Carter story, west Carterville listeners out there who don’t know. West Carter is my attorney. He’s the attorney for tip top canine and he’s the attorney that I’d recommend for all the business coaching listeners out there. He’s the attorney for elephant in the room. Uh, his company’s record when winters and King is represented by Craig Rochelle with life church, a td Jakes, Joel Olsteen, Joyce Meyers, other leading ministries in businesses and a west. I have a funny Tom Winter story for you. I love it. I was on a plane coming back from Denver on Sunday, June, who was on the plane with me since it’s a Tom.

Lenders started going with Tom Winters. Right. Okay. And you know, the why I didn’t say hi to Tom Winters, why? Because I have so many leads and so many people that want me to work with him that I not feeling the need to network all the time and I know that he’s in the same category and he looked like he was engaged in a conversation and was having peace and I didn’t want to interrupt him when I was first starting to Dj connection. If I would’ve seen tom winters, I would have been like, here’s my card. I want to work with you. I mean every single person could have been a process because they didn’t. I didn’t have enough leads. Right. But now I’m at a time in my life where I have more leads than I can deal with and it’s kind of more of like, what’s the best fit? Can you talk to me about, talk to us about why winters and king has been so consistent with your advertising and really the role Tom winters plays for you guys as kind of your rain maker. I mean because he brings in some pretty deals. I’m not sure how he’s doing in Denver, but I’m sure he was bringing in an yet another big code.

No, and I think it has done there with John Avir. Um, but yeah, I mean it’s Tom, every organization needs that personality that is an outgoing person that enjoys going out there and making those relationships. And that’s Tom winters for us. I mean he, he enjoys and something, even the days you don’t enjoy it, you get up and put a smile on your face anyway, but he’s the one that goes out there and he’s having lunches. He’s playing golf. He’s, he’s doing good work at the same time, but he’s constantly looking for opportunities to make new connections. Um, even the one, at times we wonder, well, that’s great Tom, but who’s going to actually do this work? You know, those times when you’re busy and you have to reject that notion of we don’t need anymore work right now because you can always grow. And like Dr z said earlier, you find yourself with Lowe’s, we have nothing to do, but you still have payroll going out and rent going out and expenses going out, and those laws come back to bite you very quick. Quickly,

can you share with me as an attorney, why it’s so important for to have an abundance

of leads because you work with some of the top brands. Yes, but if you didn’t have an abundance of leads, what kind of companies would you probably have to work with?

Default? Well, when you don’t have enough leads to choose your quality leads, you end up taking anything you can get your hands on and then you’re taking. You’re taking clients that you regret taking that are going to be not only just pain in the neck to deal with, but maybe outside of your wheelhouse and you start getting out of your lane and getting even more distracted by taking on business that’s not in your business plan, in your wheelhouse that you want to focus on.

Corey with Trinity Employment at Trinity Employment. You’re one of the top staffing companies now within Tulsa, Oklahoma. You guys have established yourself as a clear market leader in the world of medical staffing. Can you talk to me about why you can never stop recruiting new clients? I mean, talk to me about [inaudible]. You work with some huge accounts today, some of the largest hospitals in green country. Can you talk to me about why it’s important for you to never stop advertising? Ever, ever stopped marketing ever? Well, it’s funny, I was advertising right before I came to the show because it never stops, but it’s really simply. This Z said it earlier. It takes so long. If you let off the gas, it takes so long to get ramped back up. So for me personally, if, if I were to let off of sales for let’s say a month, it would take me at least two to three weeks to get ramped back up.

I mean just because you go out doesn’t mean the business is going to come in right away and so you’ve really got to be thinking strategically about it, but never stopping that drip. That z brings donuts and, and that’s great. So many people do that. I do a very similar process, but it never stops. It can’t stop or the business will stop now. Z. We have one of our advertisers, Dr John Sibling, and he’s a chiropractor that has probably more chiropractic clients than he knows what to deal with it. I’ve been there. I’ve seen the facility, uh, Dr John said we.com. This guy has been the chiropractor of choice for Nhl Hall of Famer, Wayne Gretzky and a host of other celebrity clients. I mean, he’s got more people reaching out to them on a daily basis that he can keep up with, but yet he still decides to invest in advertising on the thrive time show and to be a guest on the show. Why would somebody who has more clients than they can possibly keep up with? Why would they decide to advertise on the thrive time show

so they can keep that situation going? Um, that’s a good. That’s a healthy situation for a business. Could you say more than they can take care of it? They take care of them all. You know, that’s the thing about it is it’s kind of like combined with my business coaching doctors, I tell him, hey, you know, listen, we don’t turn away and walk in and if they show up and you’re here, I expect you to see them unless you prearrange that you’ve got to be somewhere else before. Right. And so

I say, listen, some days you get to leave a little early, some days you get to stay a little late, but when the sun is shining, we’re making hay and so to think about it is we’ll stay all night long if they’re lined up out the door. Yeah.

So a Dr John Sibley is a chiropractor in Tulsa, Oklahoma. You can check them out. Dr John Sibley Dot Com. That’s Dr John [inaudible] Dot Com. But there’s some people out there say, you know, I don’t even know if a chiropractor is a good move. Now your brother, full disclosure is a chiropractor in Tulsa. This justin. Yeah. And it’s. Why do you believe in Chiropractic care? Well, because it works. What do you mean it works? How does it work?

Well, the, you go in and they put you in this magical black box and they wave something over you and you come out and you’re all better magic. It’s no, it’s, it’s, it’s, it works. I mean, I’ve been in pain, have gone in and see my brother and I’ve left pain free. I mean, that’s. What else can you say? I mean, you know, he does accurate, made adjusted. Well I just, I’ve had a little shoulder issues, so I’ve actually been the last two days.

Rarely. Yeah. So if you’re out there and you say, you know what I want, I want to get my spine in line. I want to be pain free, checkout Dr John Sibley Dot Com. Stay tuned and now back to the business coach radio show devoted to making America boom again. It’s the thrive time business coach radio show.

No complaining, no excuses. You’re the stoppage. Oh, the breakthrough. It’s a choice of dollars, dreams and other things. You without a doubt, me on today’s show, we’re bragging

on thrive clients, big celebrating, big wins in thrive town. And I think the first step for somebody growing a successful company is realizing that they need help.

I think so bill gates is number one, you know, advice to a new startup, to a new business person was what? Hire a business coach.

Can I one up here real quick? Sure. Okay. Here’s a notable quotable from Eric Schmidt. Eric Schmidt, the former CEO of Google. He was asked to Fortune magazine. They asked him, what is the number one advice that you would give to an entrepreneur? And he says, the advice that sticks out I got was from John Doerr, the famous venture

capital investor who tells him. One said, my advice to you is to have a coach. The coach he said, I should have is bill Campbell. I initially resented the advice because after all, I was the CEO of Google. I was pretty experienced. Why would I need a business coach? Am I doing something wrong? My argument was, how could a coach advise me if I’m the best person in the world at this? I’m the CEO of Google. That’s not what a coach does. The coach doesn’t have to play the sport as well as you do. They have to watch you and get you to be your best in the business context. A business coach is not a repetitious coach. A business coach is somebody who looks at something with another set of behind, describes it to you and his words and discusses how to approach the problem. Once I realized that I could trust Bill Campbell, my business coach, when he can help me with perspective, I decided this was a great idea. When there’s a business conflict you tend to get rat holed into. In Bill Campbell’s general advice has been to rise one step higher above the person on the other side of the table and to take the long view. He’ll say, you’re letting it bother you, eric don’t

z. and so we had a listener out. There was an epic reading music Bolick. Well, he reached out to us and this is a company called Green Line plumbing and before working with us, they were doing a thousand dollars a week of revenue. Now they’re doing between three to $5,000 a week of revenue, but I want to celebrate. I want to applaud green lion plumbing for actually reaching out because the, you’ve been around so many people, you have been so nice and so kind of the Steve Martin concert at the casino there in Tulsa. Yes. You took my beautiful wife of 17 years and I [inaudible] to the Steve Martin and performance. Yes. And you know, it was, it was awesome. And uh, you’ve, you’ve invited us to attend the Rodeo, remember the Rodeo, the Rodeo, the Rodeo event in Tulsa and you’ve invited us to different events and I’ve sat next to some pretty successful folks and I’ve also sat next to some folks that are not having any success at all, but you’ve been kind enough to invite them and it seems crazy to me, but it seems like the people that are the most successful are the most coachable.

And the people who are the least least successful feel like they don’t need coaching. They say, well, my industry is different. Yes, I don’t need. I mean, you can’t possibly help me to understand. You don’t understand. I’m a plumber, I’m a dentist, I’m an attorney. My industry is different. Can you please explain for the business coaching listeners out there one why everyone needs coaching and to why every industry is pretty much the same except for a few nuances. You know, a few weeks ago we broke down a book called 11 rings, 11 rings, and what we’ve talked about is that Phil Jackson was a great coach and he coached, you know, Michael Jordan didn’t win a championship, arguably the best basketball player of all times, right? It didn’t win a single champion gym. We don’t. His head coach being Phil Jackson, Koby Bryant didn’t a board of the best

players of all time for him. And another one that’s Angeles Lakers, right? And you want a single championship without Phil Jackson. So you say to yourself like, you may be the best entrepreneur, uh, of all time, right? But that doesn’t mean you’re going to win the championship. And you know, having a good business. For us, having a great business is a lot of money and a lot of difference in lifestyle, a lot of difference in time freedom and money freedom, you know, and so what I would tell everybody out there is that if you want to get your body in shape, you go, you don’t even think about it. You’re going to hire a personal trainer, right? If you want to get your body, if you’re sick and you’re thinking I need to go see somebody to go to, you know, no, I’ll figure this out out for all google subs.

You then I’ll figure it out. You know, you go see a physician. Oh yeah, that’s, that’s what you do. You know, and when you, your feet hurt and you needed some new shoes, you go to a podiatrist, a pe. Well that’s true, but are cops because or get some new shoes, a cobbler. These are self evident and I don’t know why. Sometimes I think and an entrepreneur spirit is such a such a maverick. There’s so kind of almost said a little bit rogue and they’re a little bit me. It gets the world and I think some of them are like, can I tell you, am I throwing in the towel by saying, by getting a coach, can I tell you a sad and positive story at the same time? Sure.

Ah, Steve Jobs if you read the book. Uh, I am Steve Jobs by Walter Isaacson. Marshall, have you read? I am Steve Jobs by Walter [inaudible]. Walter Isaacson has a great book. Steve, I’m in. If you read the book and you know about Steve Jobs, he was fired from apple. Yes. So he decided to reach out to a business coach because he didn’t want to get fired again when he came back, when he got hired again as the CEO, he reached out to a business coach. His business coach was bill Campbell, who his resume included. Hey, I’ve been a coach for Jeff Bezos at Amazon and for Eric Schmidt at Google. And so he thought, okay, great. I can trust this guy. He’s the best. So we hired Bill Campbell, but previous to being fired from apple, Steven. Steve was pretty much uncoachable. He was very. He thought I could solve every problem himself, knows he did. You know this. He got diagnosed with cancer the second time and the doctors told him, you need to get right away, immediate treatment. We need to go in and remove the cancer and there’s a certain kind of treatment you need to have and you’ll be fine. Did you know that? That’s the second time Steve Jobs had cancer. He refused medical treatment. Do you know this?

Oh yeah, he did. He did the herbal, the.

He said, I’m not going to do it. I can treat it myself. Right? Oh yeah. And by the time he finally humbled himself to a point where he was willing to get real treatment, Walter Isaacson was interviewing him and he and he realized, you’re going to die, like we can’t help you. It’s already so far gone that you’re going to be dead. And so Steve Jobs, one of the most successful people of all time had cancer that he could’ve treated. Oh yeah. And he even admitted like he could have treated it, but instead he decided to try to treat it himself. I think it’s important as an entrepreneur, you have to be resourceful. I mean, man, you’ve got to go to, you got to do everything possible within your power to help yourself and your company, but you can’t die on the hill of saying, I’m not going to seek professional advice and that’s where I want to tap into Marshall’s wisdom because Marshall, you’ve coached a lot of clients and you’ve seen successful entrepreneurs, and I’m going to pick on a kid, the wood floor people.

Yeah. Um, she’s a diligent person, very diligent, probably one of the most resourceful people I’ve ever met. They’re incredible. Talk to me about the balance of being resourceful like she is, and being coachable like she is because she is both coachable and resourceful. It’s so rare. Talk to me about the balance of being coachable and resourceful. So the thing about a, an entrepreneur being an entrepreneur, being a business owner in a startup environment is you have to be resourceful. It’s about being resourceful, not about the resources. And so she and her husband started this cabinet refinishing business and they didn’t have a whole lot, you know, uh, they, they were, they were young adults. I’m starting this, but they put out a phenomenal product and in fact, they’ve booked out, you know, six months in advance, but they realized that at a very early age, we can’t do this for the long haul.

They’re already looking ahead to the future. So they were coachable in the sense that they said we need to build this business. So it’s sustainable for the long term rather than build it for five years, 10 years, 15 years, 20 years, we need to do it right from the beginning, which is when they reached out to us, they heard about us from another one of our clients and uh, they refer to us over. And since then they have put in different business coaching systems. They’re still working a ton. They’re still being required to be resourceful, but they at least have that coachability mindset to improve their systems. West Carter, you were an attorney for some of the top companies and uh, ministries in America, but yet you, when you work with some of these top people, you’re going to find that some of the top people are some of the most coachable.

I think this past week, uh, I personally, my wife and I, I think we paid you maybe two to $3,000 of invoices for work you’re doing for us with Jada Canine brand and uh, talk to me about this. Why would somebody like myself or other business centers, why would we pay you legal fees and not just go on legal zoom and download legal documents and try to modify them to the best of our ability? Why would we actually hire an attorney to help us? Well, it’s, it’s kind of like the analogy doctors he drew a few minutes ago, which is I tell clients, you don’t go to

the body shop or the mechanic shop and tell them how to fix your car and drop it off. You know, you have to rely on someone who that is what they do. They’ve done that before to help you navigate those difficult times and it’s very similar with attorneys. You can read a document and probably understand 90 percent of it, what you don’t understand are the future implications, the risk, the minefield field that surrounds those situations, the context that someone who’s walked through that from beginning to end can explain and educate you about and save you a lot of time, heartache, money in the end, and I think some of what it is I know, at least from my personal perspective when I get coaching from thrive, for instance, you know, you helped me with my advertising, with systems in our law firm that a lot of it’s ego. You have to put aside the ego and humble yourself a little bit to realize, look, I, in my humble opinion, in an excellent attorney, I’m fantastic. What? I may not be so great as I don’t have a marketing degree. You know, I can go do the personal relationship stuff, but search engine optimization and all these other things. I need to rely on someone else who knows more about that than I do to help me become better

and this is something that I want the listeners to get here. I Pay West Carter. I mean, I’m not kidding. Every week I feel like I pay winters and king a thousand dollars a week or more because you do a great job for me, and I’m not resentful of this, I’m just bringing this up because I want to give you a real example with my business ventures, whether it be elephant in the room or be tip top canine or something I’m working on. I want to make sure that I have somebody looking at my legal documents that actually knows what they’re doing and I think a lot of people say, Z, I’m gonna. I’m gonna. Go with the cheaper option, but it actually costs more to be cheap. So yeah, it does. You always get what you pay for in life it seems like, doesn’t it? And so one of our show sponsors, William Williams Contracting Marshall, you coach with Williams contract with Travis Williams.

Can you talk to me and talk to the listeners out there, why should we at least consider using Williams contracting? If I’m looking to add onto my church, add onto my building, build new construction, maybe a shopping center. Why should I at least consider using Travis Williams and Williams contract? Well, they do general contracting and construction management and so if you have a big project coming up, you can definitely reach out to them. They’ll get you a bid, an estimate. I’m basically walk you through that process, but they are just one of the most ethical group of people to work with in terms of being your general contractor, your construction management company. They do great with Travis every week. Oh my gosh. He’s a great dude. He, he just, he just oozes a good ethics and core values and that’s so much fun to work with. Uh, other business owners just like that. So if you want a contractor going to be on time and on budget, which turns out to be a Unicorn, go to will dash [inaudible] dot com. That’s will-conn.com. Save yourself the headaches. Save yourself the frustration. Check out Williams contract.

We’ll dash [inaudible] dot com. Stay to attend the world’s best business workshop, led by America’s number one business coach for free by subscribing on itunes and leaving us an objective review. Claim your tickets by emailing is proof that you did it and your contact information to [email protected]. All right, thrive nation. Welcome back to the thrive time show

show on your radio and on today’s show we’re talking about bragging rights and celebrating big wins in thrive town against bragging rights in celebrating big wins in thrive town. We have so many people out there, thousands of people throughout the world who subscribed to our podcast and listen to each and every podcast and I want to. I want to point out some specific thrivers that’s Jordan nace and Cheri Roberts. Marshall, you’ve met these folks, such great people, great people. They own a company called master machine and they are probably the kindest, nicest, most sincere family I’ve been around in a long time. Could you explain from your perspective what Jordan nace and share you’re like to work with me? I’m going to give you a one little snapshot into something that they did completely unsolicited and it was so cool. Yes. On Friday they came up, um, we have the team meeting every Friday for elephant in the room, our men’s grooming lounge, the men’s grooming lounge, and they brought up an entire tray of smoked meat.

And they were like, Hey, we brought you this. We’d like for you to have it involving employees for, for all the employees. They just brought it up, was just like, hey, enjoy it. Have it. We have extra. It’s something just that we enjoy doing. Here you guys go. How did the business coaching team react to that? It’s great. It’s that I was out of town to know. Why did you not tell me? It’s so, gosh, it’s so good. Kind of meat. Do we have a. They had some little smokies and some signs, some bigger broad, uh, the sausages and so, but they’re just stand up people of high character, high integrity, um, and, and they’re, uh, they’re great to be around. So, so cheers to them and having success. And so they’ve watched the success of the elephant in the room, men’s grooming lounge, they’ve seen the company grow and they own their own company called master machine.

And so they’ve decided to invest in opening up the Oklahoma City location of the elephant in the room. We’re going to have probably three locations in Oklahoma City and they’ve asked if they can have exclusive rights to Oklahoma City and if they can open up the first three locations. And so, uh, they began construction now in the Oklahoma City area and they’re going to be located near a whole foods there. I’m on Pennsylvania Avenue and the, uh, the elephant in the room, men’s grooming lounge is going to open your, I believe it’s going to open up in September, uh, as latest as late as October. But I want to, I want to really break it down into specific principles to the thrivers can apply and, and learn and put into place in their own life. So Benjamin Franklin, one of the founding fathers, he wants wrote diligence is the mother of good luck.

Again, he says, diligence is the mother of good luck. Wes Carter, you’re one of the top attorneys I are trusted by some of Tulsa’s. Number one, companies, uh, some of the nation’s top ministries. Diligence means the steady application of effort. That’s the steady application of effort. Why is diligence such an, a necessary ingredient for entrepreneurs? I think a lot of entrepreneurs say, I have a great idea, therefore it’s going to be successful, but why is diligence such a forgotten to have such a forgotten and necessary ingredient for anybody out there who wants to become a successful entrepreneur?

Well, you have knowledge plus application in the diligence I think comes in both areas, but so you have to learn the information you need, but that’s not enough. A lot of people stop there with reading the books, learning what they should do, and they never actually apply that information and it’s useless if you can’t actually apply it and you have to apply it consistently. Otherwise you’re going to be on a roller coaster your entire business life with ups and downs, depending on what kind of mood you’re in. So it’s, it’s a personal work effort and diligence so you’re not being led by your emotions or how you fill that day, but you have a process, a system that you follow every single day so that you can avoid that rollercoaster and get on that. Nice, that nice smooth upward trend.

Now, speaking of deals, just Dr Z, my son Aubrey, Napoleon Hill Clark has been a carving a path through the, the, the meadow at Camp Clark and chicken palace into the forest. Can you get me, you went out there and I think rob probably gave you a tour of the path that he’s been, uh, creating with his, with Husqavarna large, a width, a mower. Can you talk to me about the path? How’s the path looking for opera? My 11 year old son

Path is looking great. I just walk it all the way back out to the fire pit, which has been overrun by weeds, but it’s interesting. Weeds in the fire pit or taller and more green than weeds around it. The weeds in the fire pit are taller. And what now? I don’t have a green thumb. I didn’t take no farming class back in college those days. How tall are they right now? The third. Taller than that than the. Than the weeds them sir. Probably four feet tall. Five feet tall. Yeah, about five feet I’d say. And an unbelievable to have all that organic and, and all that stuff, all that organic waste and everything that, you know, burning the burning the wood, gave the soul or something at the other parts of that backyard didn’t have. And so those weeds are actually taller and you know, they, they didn’t grow as soon as the others did. So now they’ve surpassed them and they’re greener. Really just pick an option.

How was [inaudible] path over all the clarity? The quality touched me about the path of my 11 year old son. How did he do? How, how would you grade the.

I measured the width. It was off three inches in two places, which really bothered me. And, and uh, there was, there was about a half a dozen weeds that had obviously been pushed down but not cut back up about half a dozen. Aubrey, was that what you’d say? Yeah, maybe about half a dozen, so other than that I give it a solid, a, a Yay. I gave it a. It didn’t get an a plus because of those two things,

but nosy. I want to share with you a notable quotable from the founder of America Online Z. do you remember America Online? Aol Got Mail, you’ve got mail, you’ve got. You’ve got mail now. American America Online was the company to introduced the Internet to America. They mailed those compact districts. You Al Gore out to each and every home and the founder of that company, his name was Steve Case, and he says, I’m only interested in big ideas that aren’t easy to execute. These take a long time to get going, but when they do, you can see the light at the end of the tunnel showing you how they could become big game changing businesses and therefore good investments, most important, they could be transformative forces in terms of improving people’s lives. Can you talk to me about why you decided to invest in Regent Bank even though that has got to be a big hill man? I mean, when you decided to invest and to become a 10 percent owner in regent bank, I mean that has to be one of the longest biggest hills you’ve ever invested in. That’s a huge project to invest in a bank.

It was, what happened was I’m Sean Copeland approach and said, hey, I’d like for you to be your banker. And I said, well, let’s buy a bank. He was like, it would be good. I’m actually thinking about that too. So we decided. Yeah.

Approached you and said what I mean, what was he approaching you about trying to get you?

Well, he wanted me. It was at a, one of those, uh, uh, I was giving a speech at like a Christian businessman, his group or something. Okay. And so then after you get this page, you’ve done it before, you know, the couple of guys line up, you can see that got their business cards in their hand. They’re all kind of shark and round. I want to glad hand you and thank you for being there. And, and then, you know, try to, you know, do the, do the move, right? Do the move, his move was, hey, you know, if he ever, um, me borrow some money

when we come back, I want to go from, I want to show the store. I went to see this, share it, share the story from how he went from, hey, we should invest in a bank to, hey, you know, we should maybe deposit some money in a bank to, hey, we should buy a. because when someone says, Hey, you should deposit some money in my bank, that’s a very different question than, hey, could you help me buy a bank? How do you go from there? Maybe you should deposit

money in my bag to how do you stay to attend the world’s best business workshop led by America’s number one business coach for free by subscribing on itunes and leaving us an objective review. Claim your tickets by emailing is proof that you did it and your contact information to [email protected]. All right, thrive nation. Welcome back to the conversation.

Thrive time show on your radio where today we’re celebrating the big winds of the thrive nation. NowZ , you are at your speaking at some kind of event, some kind of a event where we’re men and women attend to learn how to grow a successful company and at the event a man by the name of Sean Copeland who was the probably the president or vice president of a local bank, he came up to you and said, hey, could you deposit money in my bank where I work right now? Could you deposit money? And you said, hey, why don’t we just buy a bank? Right? And that idea for the listeners out there mean when you say, hey, why don’t we just buy a bank probably blows the mind of 99 percent of our listeners, so please explain to me when you told Sean, hey, we should probably just, well, why don’t we just buy a bank? What did you mean by that and what does it look like to actually buy a bank?

There’s, there’s a few rules of thumb that I go into investing and one of them, for me now, at this point in my life, I would not invest into a business or start up a business that I didn’t control. Now there’s some ongoing business, but baking, right? Then it was a different creature because it’s so regulated. It’s so watched and therefore, you know, there’s not as much jackass three going on. Alright, got it. So when I said that concept, I said, you know, there’s one, there’s one business that we all need that we might as well own because we’re all going to use one and it’s a bank to deposit your money. You got to write a check, you gotta use your debit card. You got to, you have to have a bank to, to funnel your money. Think about the, uh, the massive amount of free suckers you could get.

I mean, if you’re out there on your person and you’re thinking to yourself, you know, I make $100,000 a year toasters and I’m wanting to save on the suckers. I want to get better. Toasters are suckers. I want to get free checking. I mean thinking about the savings, you could have the benefits to invest millions of dollars and I didn’t get free suckers, right? And I knew I was growing, my business isn’t growing and so I knew I’d be borrowing money so why might as well get some benefit from the interest I’m paying on that. I, he come back to me and then also with my influence. And so we decided that we were going to buy a bank and that nobody would own more than 10 percent. We didn’t want to have a dominant, a dominant person that owned it. And so we, we went up except for, you know, well I’ve been.

Nobody can be more than 10 percent I was at. I’m actually taking out doing around eight to be honest with you. So you use it. Nobody can have more than 10 percent. Correct. Let’s get 10 of us. Let’s go in together. And everybody five. I mean, so the more the merrier. Because what happens is that you find guys have influence and you let them invest in the bank and my own one percent, two percent, whatever it is, full disclosure, and now I was in. They have their accounts there that had their deposits there. They’re doing their loans, they’re, they’re telling their buddies about it. Full disclosure with thrive nation, we’ll make sure we get this out there. Although each member of bank only own 10 percent or eight percent of the bank. Dr Z did have large hype men that would follow him around and every meeting.

And so you would walk into a meeting where everyone owned 10 percent, but he was. He would have large, a muscular men who would say, that’s right. That’s right. And that way. That’s right. So that way it created a majority vote. No, but seriously. So you created weird meetings is what it did, right? It was, it was weird. Okay. So the point is, the point is, so you guys bought Regent Bank. It was called the Bank of no water. They had been branded BC Lee, a third generation, I believe, owner of it. And attorney. And I think that just rebranded it regent. So that would be a little more marketable cell. It had three locations, one in no water, one in and then two little, it had just two locations, one in no water and wind up in. Where was it? Coffeyville, Kansas, Coffeyville, Oklahoma. It was somewhere in America was somewhere and it was very small, very small town, very small branch and mostly did foreign loans up there. And so first thing we did is we opened a branch, wink wink in Tulsa in that obviously became the main, the main spot. And then we opened a branch up in Oklahoma City and we just recently opened a branch. How much by the bank? For 13 million. I believe it’s our purchase price. How much is it worth today? Well it was um, it was [inaudible] 75. [inaudible] 74 and change million dollar bank when bought it. So it wasn’t that big. And then now we have over 500 million in loans. Did you just say 500 million in loans? Yes.

Hello?

See, it seems like you guys have grown the bank to the next level. We have, it’s doing very well. We’ve had a few attempts to, to buy it. I mean obviously, you know, small regional. Are you going to sell it to the Arabs going to sell to the Chinese shit, don’t do that. No. Are you going to sell it to North Korea? Is that what you’re planning is Kim? Jon Young has called, but uh, we, we really have to plan. Just start a bank and get a bunch of local Americans in involved and then sell it to the, to the North Korean, to the Chinese elicited everything for sale. Everything’s for sale in your life, clay. Except your wife and your children. But if I wanted to buy that home or I could pay you enough money to drive that home or home today. Right, right. Yeah. Even though you love it. No, I love it. Even though it’s, it brings you great pleasure. Even though it’s loaded with accoutrements, even though it has Kim Jong Gung painted on the side of it. Right? Even though it gets four miles to the gallon, because I know that when you purchase that Hummer, I will then have the keys

to your portion and we’ll drive it. Lot purchase it, but I won’t drive it. I’ll take back to our to. Okay. Okay. So now if you’re out there and you’re saying, gosh, what, what does this mean to me? The point is when you invested in Regent Bank, what year did you buy into Regent Bank? Approximate the worst year. You could roughly 2008. And then the big, the big, you know. Oh, I want to recap session. Have live audio of what happened. This is live audio from the year of 2008 in review. Here we go. Are you ready for the live audio that I’ve recorded? I really don’t want me making sound effects, but this is what it sounds like. See, I mean the economy fell apart in 2008 fell apart and it was a very scary time in, in all kinds of business modalities but especially in finances.

So Dr Z, I have a question for you. So you get involved with the bank and then the financial markets, they begin to fall apart and I’ve seen this happen with a lot of different business owners. They make a big decision within their business. It immediately out of the gate it doesn’t go well. Right, right, right. So in that moment, what is your mindset and moving beyond that big challenge, how do you, how do you motivate yourself or maybe it’s not motivation, but how do you take the action or prioritize what needs to be done in order to get through that time?

Well, I was on the board of directors. We had a lot of big business coaching decisions that needed to be made as we were getting bad loans and you know, one bad loan you make such a little amount, small amount on each loan that went bad loan can really, really hurt you. And so, you know, we were, we were looking for cows and all the wrong places. We were, there was a big house, big jumbo loan that was made in Colorado someplace that didn’t go well for us. And, and on top of all that, do you have all these decisions about, you know, uh, attorneys and people coming after you and this and that and this and that and then leveraging, leveraging what assets you have and the, the control over those verse trying to get money out of somebody, you know, when people go bankrupt in other words. And so it was a very trying time and to think about it is we survived it by just treading water and we survived it by being various due to bite, you know, really, really men and, and watching and working with and sometimes you know, someone is slow pain or no pain, you know, you’re better off to work with them and try to go get that asset and sell it again because sometimes quite frankly it’s upside down.

How long did it take you to get out of the recession with, with regions bank? I don’t. We didn’t, we didn’t make money probably until year three. And Sean’s part of listening this right now going, no, we made many years ago.

I don’t know man. I think it was probably year three, maybe four, that we actually made money and we were so proud to just not lose money.

So if you’re out there and you have a company that hasn’t made money for three years, I mean facebook last over $3,000,000 after three years of business, uh, Amazon lost money for well over a decade. ESPN lost money for over a decade. E S, p, e n last money for well over a decade. So if you’re out there and you’re struggling, you’re not alone and you’re not an idiot, but what you are as you’re somebody probably in need of a little bit of business coaching. So to learn more about our business coaching program, go to thrive time show.com.

It’s thrive time show.com. Stay two,

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Thrive nation. We’re talking about bragging rights and celebrating big wins in the thrive town.

Big Wind number six. I want to celebrate. We have a listener out there in San Jose, z. have you ever been to the great state of California?

Oh yeah. California. Dreamin baby. Come on California cation. Let’s do it. What was the last time you went to California? What were you doing in California? Um, let’s see. The last time I was in California was for my daughter’s graduation. Um, she went to optometry school out there and that was two years ago, year and a half ago. And went to, um, what’s that? Catalina island. And she up. She went to school in a little city called Fullerton, which is in Orange County. And uh, I bought a town home out there. I got so fortunate. It was, it was, uh, it was a, what did they call a short sale and in, for the four years she was out there and optometrist doubled in value.

So big shout out to uh, Peter, one of our lives, uh, Marshall to Peter in San Jose reaching out to us their Ip. Peter, I appreciate you so much. Big shout out to you for listening to the thrive time. Show Z. We have a question that came in from a thriver right here in Tulsa, Oklahoma and she wants to know home a home girl. Should I share expenses, resources, and bottom line, should I partner with a family member to Marshall knows more about the situation so marshall don’t explain her name or industry, but it just explained to z the situation so that we can make sure we’re giving her clear and direct. Probably semi offensive mentorship. Okay. Here we go. So she wants to know she has a family member in with whom she wants to partner and the family member may not bring as many resources to the table as her operate the same business in different locations. And the question is, should we merge and bring everything under the same umbrella llc and have one, one

corporation govern it or not? So we need your wisdom on whether or not to partner. This question is so deep. I want to together allow us to make sure that we understand that Marshall, please explain the scenario. So it’s

stuck to see and understand that should the family members putting together in what business it will. It will. Let’s say it’s a category Origami. Origami. Origami. Well, we’ll say it’s an in home business without revealing in home.

So they compete against, you know, different locations. They’re in separate location, separate regions. Separate, but it’s the same business. Correct. At. They’d been going for the same amount of time. Yes. And what do they think they’re going to gain from doing it? Um, and how would they split the stock? Uh, so what they believe is an exchange of ideas, collective buying agreements with vendors, but also an exchange of business coaching processes in which one of the sisters, okay. Has many more processes. Then the other one says, daughter doing better than advice.

Do not join the businesses. Keep them separate, but share ideas, give your playbooks to each other. Then you can also now go together and form a third business for buying power if you want to. Okay. So if you think that, uh, in other words or I would just go, I would just call it the vendors and say, Hey, I want twice as much. What do I, what do I get for now? Right in the split the bill or you split it. Maybe I’m 62 this month and you’re 40 this month or whatever, but you need to split the bill but you work together, but you keep it separate. And that way if there’s ever comes a time when things aren’t working out well you’re, you’re, you’re,

hey, real quick, real quick, real quick. I like it like that. Now you have a thing that you like that. See you talked about this, you talked about how when somebody grows a business

and opens a business, they want to partner. Somebody has to have a 51 percent ownership. You cannot do a 50 slash 50 partnership. Why?

Because you have to have a boss. You have to have a final decision maker. Now what some people do, my sister, my sister, know what some people do and it’s kind of clever. What they’ll do is they’ll do, each sister takes 49 and then a mom or somebody or you know, someone they decide on takes two percent, you know, so that when there is a disagreement, they bring in a third party to, to, to devote which way. But the problem is we’re on 50 slash 50, don’t do 50 slash 50. There’s no reason to defend the fifties. It’s silly, right? Right. Yes.

I think of all the times your brother or sister out there, it looked you in the face and say, yeah, make me do it. You know, that’s what you’re

going to end up with with a partner or a family member has a 50 slash 50 is you end up in a stalemate with no way to get out of it. And so one partner can drag their feet, make your life miserable. I’m just, they can not show up to work ever and just suck off your productivity. Uh, it’s just, it’s a bad idea to have even Stevens.

The other thing to Marshall’s, if each sister has her own business, one of them say this is crazy. I know one of them could attend, say a thrive time, show in person workshop, catch some new ideas and go back and want to, you know, strategically change some of the things that they’re doing where the other sister says, no, if it ain’t broke, we’re not gonna fix it. We’re selling 10 widgets a week and that’s all we want to do. So my point is, is that they may want to grow them differently. One might say, Hey, I want to bring on this product. And there was like, no, I don’t want braid that point. Well then keep them separate but work together, collaborate together. Your sisters, for goodness sakes, you love each other for goodness sake. So share each other’s playbooks and help each other.

Not to mention with separate corporations, if one of them have some sort of catastrophic liability, a wrongful termination, some sort of huge lawsuit, it doesn’t sink the whole ship. That’s not going to go touch the other sisters corporation, so that’s just icing on the cake

so they could see joe. So yes. To sharing resources. Yes. To buying together. Yes. To collaborating, yes to sharing ideas, yes to all those things. Yes. To sister labs. Sitting around and combine all that. Yes, but keep them separate.

Martin Marshall, I think a lot of people reach out and say, I want to be a 50 slash 50 partner and so I have an audio recording from a thriver who reached out to use V, a private text. Oh yeah. I remember you were able to talk to him. So I have a recording of a text. Yeah, he. He private recorded. That’s private property. I’ve already sent you a text and you called them up and you said, dude, you should definitely not be a 50 slash 50 partner with your own family. Dude. Don’t do it. And this is what he said to you. Oh, okay. Because Oklahoma’s a one way street. You don’t have to notify both parties. Calls are being recorded. This is what he said and I want to play it for the listeners out there, for a thriver out there who said, I want to be a lot of partners as part of the whole mark of the beast thing. They’ll be naughty thing I’m wearing up and trying to advance. Here we go.

Okay. Quick question. Like, I picked it wrong. We quit smoking. Quit drinking like I picked the wrong week. When I’m fit, image

Z, it can absolutely blow somebody’s mind when you tell somebody you should not become a 50 slash 50 partner with their own family.

It’s, it’s funny because I’ve been shark take on so many business deals, you know, and they, and they, they, they always come up to me that go, Hey, do you think there’s a good idea? You know, when you turn $50,000 and can have the best darn coffee

change copy. You think about Coweta, right? And

I’m telling you, you think about the color of brown or the average person’s tooth, you know, you don’t tell any of our coffee will be that brand. I won’t call it Coweta Brown tooth causing. You know, how much business starbucks does, I mean, do you know what I mean? They do a lot. You think about that. I mean we got like 20 percent of that and then sometimes I’m sitting her thinking to myself, how did this person get to me? But then you know, you kind of laugh, just bond. You’re going, okay, I promised him 30 minutes or 15 minutes. Just say Nice, courteous statements. Can you put your pants on? And then I’ll look at them. But I always say, okay, so for my $250,000 that are going to fund the entire thing. Absolutely. What percent do I get that go while you get about 25, 25 percent and brown tooth coffee.com.

I’m trying not to laugh, but I’m just thinking you heard a bluetooth, but have you heard of Brown Taylor? And I have tooth coffee.com because I was asked a question I always love to ask was have you ever worked at a coffee shop? No, but I’ve been to, I’ve seen coffee. I can’t really afford that starbucks too much. But, uh, you know, I mean, I, a Dunkin donuts makes a fine cup of coffee. I’ve been researching it, but my point is, is that your people are so funny about what they’re willing to give up for. They’re busy because they value it so much. And that’s the other thing, Marshall, is that those girls probably have a fair value of it. He was become underneath. Make a new one. So,

you know, a business coaching client, their company, I have a fair value. I have a fair value assessment of his RC auto specialists. These guys are Tulsa’s number one, Ford automotive repair specialists for over 80 years of combined experience repairing Ford automobiles. So if you live in Tulsa, Z, if you drive a Ford, why would you not go to our c Dot Com? Why would you not see? I’m asking you, why would you not? You wouldn’t. You have to. You’ve got to go. If you’re a great American, you want to go to RC auto specialist dot comm report to prepare your Tulsa based Ford Automobile. Now, if you’re listening right now and you say, I want to repair my business, I want to grow my business, well, we have four ways to help you. One, if you go to thrive time show.com, we have thousands of podcasts too. We have thousands of video training videos. A third, we have one on one business, coaching and forth. We have in person workshops, all available for [email protected]. With any further ado, three, two, one.