1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:23,320 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 7 00:00:23,320 --> 00:00:28,120 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 8 00:00:28,160 --> 00:00:31,680 Speaker 1: crossings are at the lowest levels ever recorded, and over 9 00:00:31,760 --> 00:00:34,960 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 10 00:00:35,040 --> 00:00:38,920 Speaker 1: are here illegally, your next you will be fined nearly 11 00:00:39,000 --> 00:00:43,000 Speaker 1: one thousand dollars a day, imprisoned, and deported. You will 12 00:00:43,040 --> 00:00:46,680 Speaker 1: never return. But if you register using our CBP home 13 00:00:46,720 --> 00:00:50,120 Speaker 1: app and leave now, you could be allowed to return legally. 14 00:00:50,479 --> 00:00:55,240 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 15 00:00:55,400 --> 00:00:57,400 Speaker 1: border and families will. 16 00:00:57,200 --> 00:01:00,000 Speaker 2: Be protected sponsored by the United States Department of Homeland Security. 17 00:01:00,240 --> 00:01:02,000 Speaker 3: Even in my book, I wrote this part called one 18 00:01:02,040 --> 00:01:03,880 Speaker 3: hundred dollars Off Days, where my goal is to build 19 00:01:03,880 --> 00:01:04,840 Speaker 3: my business on. 20 00:01:04,800 --> 00:01:06,880 Speaker 4: My off days, just my off days, because. 21 00:01:06,640 --> 00:01:07,959 Speaker 3: I was working five days a week on my job 22 00:01:07,959 --> 00:01:10,720 Speaker 3: two days a week on my dream every single day, 23 00:01:10,840 --> 00:01:12,399 Speaker 3: my goal is to go out and sell four T shirts. 24 00:01:12,400 --> 00:01:14,280 Speaker 3: I'm selling T shirts for twenty five dollars, so I'm 25 00:01:14,319 --> 00:01:15,840 Speaker 3: trying to sell four T shirts. I'm trying to make 26 00:01:15,880 --> 00:01:18,880 Speaker 3: one hundred dollars on each off day. So my boy's like, nah, 27 00:01:18,920 --> 00:01:21,120 Speaker 3: you got to grind, man, you gotta work every single day. 28 00:01:21,280 --> 00:01:23,640 Speaker 3: I know myself, I'm low key lazy. I work hard 29 00:01:23,640 --> 00:01:25,000 Speaker 3: because I'm kind of lazy. I want to get to 30 00:01:25,040 --> 00:01:26,760 Speaker 3: a point where I got to do nothing, work smart. 31 00:01:27,440 --> 00:01:34,000 Speaker 4: Yeah, yeah, I mean that's what lazy people say. Yeah. 32 00:01:34,040 --> 00:01:36,400 Speaker 3: My goal is I'm focused on. Whatever happens throughout the 33 00:01:36,400 --> 00:01:39,240 Speaker 3: week is extra. But my goal is on my off days, 34 00:01:39,720 --> 00:01:42,160 Speaker 3: feel it would work. If I can put time into 35 00:01:42,200 --> 00:01:44,360 Speaker 3: my job, I can put time to my business. So 36 00:01:44,680 --> 00:01:47,080 Speaker 3: I started hitting these these hundred dollars each off day. 37 00:01:47,080 --> 00:01:49,360 Speaker 3: So I called my boss, like, yo, can you only 38 00:01:49,440 --> 00:01:51,880 Speaker 3: put me on four days a week instead of five? 39 00:01:52,280 --> 00:01:54,120 Speaker 3: Because I knew if I could make two hundred dollars 40 00:01:54,120 --> 00:01:55,960 Speaker 3: on two off days, if I had three off days, 41 00:01:55,960 --> 00:01:58,200 Speaker 3: I can make three hundred. And that joyt started to hit. 42 00:01:58,280 --> 00:02:01,200 Speaker 3: So long story short time I quit my job. I 43 00:02:01,240 --> 00:02:03,120 Speaker 3: was like working a day a week. So I like, 44 00:02:03,520 --> 00:02:05,680 Speaker 3: so I teach people to transition out of their job. 45 00:02:05,840 --> 00:02:08,000 Speaker 3: Let's set these small goals and build from there. 46 00:02:08,200 --> 00:02:09,840 Speaker 5: So can you talk about that because that's important as 47 00:02:09,840 --> 00:02:12,480 Speaker 5: far as it's all about strategy in life. And it's 48 00:02:12,480 --> 00:02:14,040 Speaker 5: like you never just want to jump out the window 49 00:02:14,080 --> 00:02:16,760 Speaker 5: and anything, So can you break that down a little 50 00:02:16,760 --> 00:02:19,239 Speaker 5: bit to transition out of your job? I liked that idea? 51 00:02:19,240 --> 00:02:21,519 Speaker 2: Was it, like I'm thinking myself, like, was there any 52 00:02:21,520 --> 00:02:23,720 Speaker 2: fear in that? Like or how did that play on 53 00:02:23,760 --> 00:02:25,399 Speaker 2: your mind? Like I'm doing this, I'm out. 54 00:02:25,639 --> 00:02:26,040 Speaker 4: I don't know. 55 00:02:26,120 --> 00:02:29,240 Speaker 3: It wasn't really It wasn't really a fear because it 56 00:02:29,360 --> 00:02:31,640 Speaker 3: happened so gradually, you know what I mean. It's like 57 00:02:31,840 --> 00:02:35,040 Speaker 3: with this podcast, you drop one episode, then two, then three, 58 00:02:35,120 --> 00:02:37,679 Speaker 3: and it starts to build. So I'm trying to make 59 00:02:37,919 --> 00:02:40,080 Speaker 3: on my just two my goal is to make two 60 00:02:40,120 --> 00:02:42,240 Speaker 3: hundred dollars a week. If I can't sell eight T 61 00:02:42,360 --> 00:02:44,920 Speaker 3: shirts in seven days, you know what I mean. Like, 62 00:02:44,960 --> 00:02:47,760 Speaker 3: so it was it wasn't like a fear of oh 63 00:02:47,840 --> 00:02:49,040 Speaker 3: I got to go quit my job. 64 00:02:49,160 --> 00:02:49,960 Speaker 4: That would be scary. 65 00:02:50,200 --> 00:02:52,360 Speaker 3: I'm just trying to make a couple more dollars to like, 66 00:02:52,480 --> 00:02:54,640 Speaker 3: go to the club and hang out and put something 67 00:02:54,680 --> 00:02:57,000 Speaker 3: on a bottle. I still wan't going to buy it myself, 68 00:02:57,040 --> 00:02:58,760 Speaker 3: but I want to be a person that could chip in. 69 00:02:59,240 --> 00:03:01,960 Speaker 3: So it wasn't really a fear, especially because since I 70 00:03:02,040 --> 00:03:05,000 Speaker 3: was a kid, I've always been trying. The hard part 71 00:03:05,160 --> 00:03:09,040 Speaker 3: was sticking when I'm only making two hundred dollars a week, 72 00:03:10,320 --> 00:03:13,400 Speaker 3: or sticking when I'm not really making any money. Instead 73 00:03:13,400 --> 00:03:14,840 Speaker 3: of saying, yo, you know what, I think I'm a 74 00:03:14,919 --> 00:03:16,960 Speaker 3: tuy real estate because t shirts don't work. 75 00:03:17,120 --> 00:03:17,680 Speaker 4: It was just me. 76 00:03:17,880 --> 00:03:20,720 Speaker 3: So the hard part was just staying in my lane 77 00:03:21,040 --> 00:03:23,320 Speaker 3: and you know, just stay in one course for a while. 78 00:03:24,200 --> 00:03:26,360 Speaker 2: It goes back to your and I looked at you 79 00:03:26,360 --> 00:03:29,040 Speaker 2: your page The life cycle of a good idea. Yeah, 80 00:03:29,320 --> 00:03:32,119 Speaker 2: this sounds like the life of everybody goes through it too, 81 00:03:32,200 --> 00:03:33,839 Speaker 2: you know what I mean, Like, can you break down 82 00:03:33,880 --> 00:03:36,080 Speaker 2: that process? Because I'm sure there's a lot of people 83 00:03:36,160 --> 00:03:38,880 Speaker 2: that have ideas and they make it to the first 84 00:03:38,880 --> 00:03:40,760 Speaker 2: age of excitement, but they never make it to the 85 00:03:40,840 --> 00:03:41,320 Speaker 2: last dage. 86 00:03:41,320 --> 00:03:42,040 Speaker 4: Oh never. 87 00:03:42,160 --> 00:03:45,080 Speaker 3: So I came across this presentation. I was on tour 88 00:03:45,120 --> 00:03:48,880 Speaker 3: with ET twenty seventeen, and I think like a few 89 00:03:48,880 --> 00:03:52,640 Speaker 3: hours before I was supposed to turn in my presentation. 90 00:03:53,040 --> 00:03:54,280 Speaker 4: I just I was like, yo, I got it. 91 00:03:54,720 --> 00:03:57,040 Speaker 3: The life cycle of a good idea is excitement. Everybody 92 00:03:57,040 --> 00:03:59,360 Speaker 3: gets excited about the idea. But then you got to 93 00:03:59,400 --> 00:04:02,400 Speaker 3: move to where you got to start evolving the idea, 94 00:04:02,440 --> 00:04:05,040 Speaker 3: which is not as exciting as when you got the 95 00:04:05,080 --> 00:04:07,200 Speaker 3: id and you get to tell everybody and you see 96 00:04:07,240 --> 00:04:08,800 Speaker 3: the vision. Yo, this goal was take me out of 97 00:04:08,800 --> 00:04:13,120 Speaker 3: my job. So excitement, then evolution, then engagement. So after 98 00:04:13,160 --> 00:04:15,760 Speaker 3: you evolve it, you got to engage people. That get 99 00:04:15,800 --> 00:04:18,760 Speaker 3: scary because you got to actually approach people and make 100 00:04:18,800 --> 00:04:21,120 Speaker 3: a sale and buy in. You got to get people 101 00:04:21,120 --> 00:04:24,560 Speaker 3: to buy in. But then with engagement comes resistance. You'll 102 00:04:24,600 --> 00:04:26,720 Speaker 3: automatically have those people to say, yo, I don't want 103 00:04:26,720 --> 00:04:29,200 Speaker 3: to buy it, and then you have to make a decision. 104 00:04:29,279 --> 00:04:32,080 Speaker 3: And the decision is either get excited about something else 105 00:04:32,640 --> 00:04:36,279 Speaker 3: or move into expansion. But the trick is taking each 106 00:04:36,320 --> 00:04:38,600 Speaker 3: stage with you. So if you're excited and you move 107 00:04:38,640 --> 00:04:41,279 Speaker 3: to evolution, you got to be excited while you're evolving 108 00:04:41,320 --> 00:04:44,800 Speaker 3: the idea. And some people move from evolution to engagement, 109 00:04:45,040 --> 00:04:48,320 Speaker 3: but they stop evolving the content. So once you start 110 00:04:48,360 --> 00:04:51,880 Speaker 3: to hit resistance, if you're still engaging people and evolving. 111 00:04:51,920 --> 00:04:54,799 Speaker 3: You're asking people, Okay, why aren't you buying this? Because 112 00:04:54,800 --> 00:04:56,960 Speaker 3: you're still evolving it. You're still trying to get better, 113 00:04:57,200 --> 00:04:58,880 Speaker 3: meaning you're still engaging. 114 00:04:58,440 --> 00:04:59,080 Speaker 4: You're assessing it. 115 00:04:59,400 --> 00:05:01,719 Speaker 3: You're assessing, and then you make a decision to just 116 00:05:02,240 --> 00:05:04,720 Speaker 3: don't get excited about something else, fight through it, take 117 00:05:04,760 --> 00:05:07,720 Speaker 3: all that data, get re excited about the same concept, 118 00:05:08,360 --> 00:05:11,480 Speaker 3: retool it, keep engaging, go through the resistance. 119 00:05:11,520 --> 00:05:12,799 Speaker 4: And then you expand. 120 00:05:12,880 --> 00:05:16,359 Speaker 2: You said something important and Shotty comes from a sales background, 121 00:05:16,400 --> 00:05:17,560 Speaker 2: and you come from a sales background. 122 00:05:17,600 --> 00:05:20,880 Speaker 4: You said A sales starts when somebody says no. Oh 123 00:05:20,920 --> 00:05:22,159 Speaker 4: for sure. In my mind, I'm like. 124 00:05:22,200 --> 00:05:24,360 Speaker 2: Yeah, somebody said no, it's next to the next person. 125 00:05:25,320 --> 00:05:27,720 Speaker 2: What's the importance of that, Like, what's the philosophy bond 126 00:05:27,760 --> 00:05:28,280 Speaker 2: that I mean? 127 00:05:28,320 --> 00:05:30,760 Speaker 3: When you go into a shoe store, obviously somebody comes 128 00:05:30,800 --> 00:05:32,359 Speaker 3: up to you and they're like, can I help you? 129 00:05:32,440 --> 00:05:35,520 Speaker 3: And you always say no, I'm good, Like we're trained 130 00:05:35,520 --> 00:05:38,960 Speaker 3: to say no. The actual set the game starts when 131 00:05:38,960 --> 00:05:42,520 Speaker 3: they say no first. So I was expecting, yo, you 132 00:05:42,560 --> 00:05:44,240 Speaker 3: want to buy this T shirt? And they say no. 133 00:05:44,360 --> 00:05:46,080 Speaker 3: I'm like, all right, man, what I gotta go to 134 00:05:46,160 --> 00:05:48,960 Speaker 3: the next person? But then I realized that one of 135 00:05:48,960 --> 00:05:51,080 Speaker 3: my mentors said, yo, make them tell you no twice. 136 00:05:52,000 --> 00:05:54,039 Speaker 3: So I'm like, yo, would you like to make buy 137 00:05:54,040 --> 00:05:56,440 Speaker 3: this T shirt? And they say no, I'm good. I'm like, yo, 138 00:05:56,560 --> 00:05:58,480 Speaker 3: are you sure? Look at this, like look at that, 139 00:05:58,640 --> 00:06:01,520 Speaker 3: like this this, this will be with your shoes, And 140 00:06:01,640 --> 00:06:04,160 Speaker 3: for some reason I started converting, Like people like, oh, 141 00:06:04,200 --> 00:06:06,920 Speaker 3: all right, yeah, you're right, let me get it right. 142 00:06:07,000 --> 00:06:09,520 Speaker 3: So now you know fast forward. I was able to 143 00:06:09,640 --> 00:06:12,560 Speaker 3: leave the cheesecake factory and jump into the Kiaks. I 144 00:06:12,680 --> 00:06:15,520 Speaker 3: make you tell me no to you walk away because Yo, 145 00:06:16,040 --> 00:06:18,600 Speaker 3: I've converted on the third sale, I mean the third no, 146 00:06:18,880 --> 00:06:21,440 Speaker 3: the fourth no. And sometimes people will buy because they 147 00:06:21,480 --> 00:06:22,880 Speaker 3: tired of you ask it and they know you're not 148 00:06:22,880 --> 00:06:24,600 Speaker 3: gonna let them go. Look I got all right, cool, 149 00:06:24,640 --> 00:06:27,760 Speaker 3: just give give me that one here ticket tell you 150 00:06:27,800 --> 00:06:28,320 Speaker 3: no more than once. 151 00:06:28,440 --> 00:06:30,280 Speaker 5: Yeah. Now the sales is we talked about that a 152 00:06:30,279 --> 00:06:32,200 Speaker 5: few times on the podcast is something that most people 153 00:06:32,240 --> 00:06:34,960 Speaker 5: are extremely afraid of because nobody likes to talk to strangers. 154 00:06:35,000 --> 00:06:37,120 Speaker 5: Like we conditioning as kids not to talk to strangers, 155 00:06:37,160 --> 00:06:38,440 Speaker 5: like that's the first thing they tell you, don't talk 156 00:06:38,480 --> 00:06:41,240 Speaker 5: to strangers, and that carries over as an adult, and 157 00:06:41,240 --> 00:06:43,200 Speaker 5: it's like to walk up to somebody, especially to try 158 00:06:43,200 --> 00:06:45,039 Speaker 5: to ask them to buy a product and to spend 159 00:06:45,040 --> 00:06:47,880 Speaker 5: money with you. It's like it's terrifying for most people. 160 00:06:47,920 --> 00:06:49,960 Speaker 5: But I always say, like, if you can actually sell, 161 00:06:50,120 --> 00:06:53,040 Speaker 5: do sales. I recommend anybody that wants to be in 162 00:06:53,120 --> 00:06:56,480 Speaker 5: business to do at least one year of sales selling something. 163 00:06:56,600 --> 00:06:59,040 Speaker 5: I don't care, whether it's life insurance, whether it's knives, 164 00:06:59,080 --> 00:07:02,520 Speaker 5: whether it's the cell phone cases. You got to if 165 00:07:02,560 --> 00:07:04,839 Speaker 5: you could sell something a it takes a fear away 166 00:07:05,480 --> 00:07:07,719 Speaker 5: and you'll realize that the worst thing in the world 167 00:07:07,800 --> 00:07:10,800 Speaker 5: is not a no. It's not like people say no, 168 00:07:10,840 --> 00:07:12,480 Speaker 5: you're still living, like you know what I mean. It's 169 00:07:12,480 --> 00:07:15,120 Speaker 5: like you got to develop stick extend to be an entrepreneur. 170 00:07:15,360 --> 00:07:16,960 Speaker 3: I got a clients shouts out of my man saying 171 00:07:17,000 --> 00:07:19,160 Speaker 3: he came on our coaching call. I have a call 172 00:07:19,160 --> 00:07:21,720 Speaker 3: in the mornings, and he said, Man, how do I 173 00:07:21,760 --> 00:07:23,679 Speaker 3: take my business to the next level? And my COUSTU 174 00:07:23,840 --> 00:07:25,680 Speaker 3: was like, Yo, how many people do you ask to 175 00:07:25,720 --> 00:07:29,080 Speaker 3: buy your service? He said, Man, not that many. I said, YO, 176 00:07:29,320 --> 00:07:31,400 Speaker 3: give me a number, like how many people do you 177 00:07:31,520 --> 00:07:36,480 Speaker 3: actually ask? He said, well, uh, not a whole lot. Bro, 178 00:07:36,560 --> 00:07:39,160 Speaker 3: how many did you asked yesterday? He said none. I said, 179 00:07:39,160 --> 00:07:40,480 Speaker 3: that's the problem. So this is what I want you 180 00:07:40,480 --> 00:07:42,360 Speaker 3: to do. Because he's afraid to ask for the sale, 181 00:07:42,880 --> 00:07:47,440 Speaker 3: I said, or he's afraid to attest. He's afraid to like, 182 00:07:47,440 --> 00:07:50,360 Speaker 3: like get into sales. But what I told him was 183 00:07:50,400 --> 00:07:52,440 Speaker 3: I just want you to ask three people a day. 184 00:07:53,120 --> 00:07:53,760 Speaker 4: That's your goal. 185 00:07:53,840 --> 00:07:55,320 Speaker 3: I don't care whether you buy or not, because the 186 00:07:55,360 --> 00:07:59,880 Speaker 3: pressure is in their answer. But if you condition your 187 00:07:59,880 --> 00:08:01,760 Speaker 3: mind and say, yo, my goal is not to make 188 00:08:01,760 --> 00:08:03,920 Speaker 3: a sale. My goal is to just ask five people 189 00:08:03,960 --> 00:08:05,880 Speaker 3: every day so I can go to the store and say, yo, 190 00:08:05,880 --> 00:08:07,640 Speaker 3: I don't want to bother you, my coach, make me 191 00:08:07,680 --> 00:08:10,080 Speaker 3: do this. Would you like to buy this T shirt? Okay, 192 00:08:10,120 --> 00:08:13,200 Speaker 3: that's one. Hey mom, I know I ain't talk to 193 00:08:13,240 --> 00:08:15,000 Speaker 3: you in a little while. I never I've asked. I 194 00:08:15,080 --> 00:08:17,280 Speaker 3: never like try to sell you anything. But let me 195 00:08:17,320 --> 00:08:19,680 Speaker 3: get my number out. And if you can start to 196 00:08:19,680 --> 00:08:23,960 Speaker 3: get your number out three sales, five, Just make five calls. 197 00:08:24,000 --> 00:08:26,360 Speaker 3: Make your goal. Make your goal of the work, not 198 00:08:26,440 --> 00:08:28,840 Speaker 3: the reward, because the reward is scary because if you 199 00:08:28,840 --> 00:08:31,560 Speaker 3: don't get it, you're disappointed. But what you can't control 200 00:08:31,600 --> 00:08:34,120 Speaker 3: is the work. That's the only thing control, So is there. 201 00:08:34,920 --> 00:08:38,000 Speaker 2: It's like a fine line between persistence and annoyance, because 202 00:08:38,000 --> 00:08:39,760 Speaker 2: I could imagine like, yo, get this, get this, get this, 203 00:08:39,840 --> 00:08:42,360 Speaker 2: and it's like, all right, is there a fine line there? 204 00:08:42,480 --> 00:08:44,160 Speaker 3: To make a seale, you gotta be kind of annoying 205 00:08:44,160 --> 00:08:48,160 Speaker 3: a little bit, Okay. I mean at the end of 206 00:08:48,200 --> 00:08:49,960 Speaker 3: the day, you got to ask curtain people. It's going 207 00:08:50,040 --> 00:08:51,480 Speaker 3: to be somebody you want to get on the podcast. 208 00:08:51,679 --> 00:08:53,400 Speaker 3: They say no, next time you're seeing it, you need 209 00:08:53,400 --> 00:08:56,600 Speaker 3: to ask them again. It's only our inside. We feel 210 00:08:56,760 --> 00:08:59,880 Speaker 3: like we're being annoying, but sometimes people just forget or 211 00:09:00,280 --> 00:09:01,800 Speaker 3: and I learned this at the cheesecake factory. 212 00:09:01,840 --> 00:09:02,360 Speaker 5: Is so dope. 213 00:09:02,840 --> 00:09:06,760 Speaker 3: People want to they want to eat cheesecake, but they 214 00:09:06,760 --> 00:09:09,240 Speaker 3: want you to convince them. They want to do it. 215 00:09:09,280 --> 00:09:11,280 Speaker 3: But the right thing to say is no because it's 216 00:09:11,320 --> 00:09:14,440 Speaker 3: high in fact calories. But they really want me to ask, 217 00:09:14,679 --> 00:09:17,440 Speaker 3: They really want me to convince. They feel good strong 218 00:09:17,480 --> 00:09:19,640 Speaker 3: will because they're saying no because they're on the diet. 219 00:09:19,840 --> 00:09:22,560 Speaker 4: We got this new one. They'd be happy when I 220 00:09:22,600 --> 00:09:23,440 Speaker 4: convince them no. 221 00:09:23,559 --> 00:09:26,120 Speaker 5: It's the no thing is extremely important and it's important 222 00:09:26,120 --> 00:09:28,960 Speaker 5: for people to understand how to take things personal and 223 00:09:29,160 --> 00:09:31,280 Speaker 5: you know, I just living in New York. I was 224 00:09:31,280 --> 00:09:34,200 Speaker 5: on the subway years ago, and I just did like 225 00:09:34,200 --> 00:09:36,520 Speaker 5: an observation. It's like people, these guys handing out like 226 00:09:36,559 --> 00:09:39,880 Speaker 5: free newspaper, they're free to any anybody that's like coming 227 00:09:39,880 --> 00:09:42,840 Speaker 5: through the turnstile, and every single person was like no, 228 00:09:42,880 --> 00:09:43,320 Speaker 5: I'm gonnay. 229 00:09:43,320 --> 00:09:43,480 Speaker 4: Look. 230 00:09:43,559 --> 00:09:47,720 Speaker 5: They was just and I'm thinking to myself, like it's free. 231 00:09:48,000 --> 00:09:51,000 Speaker 5: It's a free newspaper, why not take it? But it's 232 00:09:51,040 --> 00:09:53,760 Speaker 5: like they're just conditioned that he's trying to sell me. 233 00:09:53,760 --> 00:09:55,560 Speaker 5: He's not even trying to sell, it's giving it away, 234 00:09:56,120 --> 00:09:59,040 Speaker 5: and it's like no. It's like the same thing. It's 235 00:09:59,080 --> 00:10:01,640 Speaker 5: like a pretty girl, Like you might want to dance 236 00:10:01,679 --> 00:10:03,520 Speaker 5: with a pretty girl, and before you even she's like no, 237 00:10:03,920 --> 00:10:07,719 Speaker 5: but was like you didn't even look at me. But 238 00:10:07,840 --> 00:10:10,719 Speaker 5: she's just used. She's conditioned to say no. So I say, 239 00:10:10,720 --> 00:10:13,280 Speaker 5: I have to say, like people in general are conditioned 240 00:10:13,280 --> 00:10:16,680 Speaker 5: to say no, So peeling back that layer and saying like, well, 241 00:10:16,800 --> 00:10:19,280 Speaker 5: why it's free, it's a free newspaper. You don't want 242 00:10:19,280 --> 00:10:20,880 Speaker 5: to take it. I mean, like, let me get the 243 00:10:20,920 --> 00:10:22,360 Speaker 5: note out of the worst and you're not going to 244 00:10:22,400 --> 00:10:25,800 Speaker 5: convince everybody. But some people, once you just get that 245 00:10:25,960 --> 00:10:28,240 Speaker 5: first layer, Like, if you can get past that first layer, 246 00:10:29,160 --> 00:10:30,320 Speaker 5: it's like a home run after that. 247 00:10:30,480 --> 00:10:33,000 Speaker 3: Yeah, I think how you how you do anything, is 248 00:10:33,000 --> 00:10:36,800 Speaker 3: how you do everything. So if if you're attempting to 249 00:10:36,800 --> 00:10:39,439 Speaker 3: make a sale and they say no, if you're working 250 00:10:39,480 --> 00:10:41,240 Speaker 3: on a product and you just can't figure it out, 251 00:10:41,320 --> 00:10:43,040 Speaker 3: like these mics, you just couldn't figure out how to 252 00:10:43,040 --> 00:10:45,960 Speaker 3: get it working, you'll probably stop at that too and 253 00:10:46,000 --> 00:10:48,800 Speaker 3: just get another mic. Right, But once you develop a 254 00:10:48,840 --> 00:10:53,080 Speaker 3: certain a certain level of persistence, once you develop that trade, 255 00:10:53,160 --> 00:10:55,520 Speaker 3: that carries to everything, you know what I mean, Like 256 00:10:55,559 --> 00:10:57,800 Speaker 3: if you can be if you can be persistent in 257 00:10:57,840 --> 00:11:01,119 Speaker 3: a in a sales transaction, you could be assistant and 258 00:11:01,320 --> 00:11:04,560 Speaker 3: getting that person interested enough enough to date you or 259 00:11:04,920 --> 00:11:07,000 Speaker 3: trying to close that deal. I believe how you do anything, 260 00:11:07,120 --> 00:11:07,800 Speaker 3: how you do everything. 261 00:11:07,960 --> 00:11:09,480 Speaker 4: So you sound like you're gonna be the host on 262 00:11:09,520 --> 00:11:10,000 Speaker 4: Bachelor Man. 263 00:11:11,360 --> 00:11:13,120 Speaker 5: So what are some steps, Like you said you coach 264 00:11:13,160 --> 00:11:17,120 Speaker 5: people to become entrepreneurs in nine to five What are 265 00:11:17,120 --> 00:11:18,720 Speaker 5: some steps. I'm sure there's a lot of people that 266 00:11:18,960 --> 00:11:21,240 Speaker 5: may listen to this podcast that have nine to five 267 00:11:21,320 --> 00:11:23,080 Speaker 5: jobs and want to become entrepreneurs. Like, what are some 268 00:11:23,080 --> 00:11:24,520 Speaker 5: practical steps that people can take. 269 00:11:24,679 --> 00:11:26,560 Speaker 3: I think the first step is just set a goal, 270 00:11:26,679 --> 00:11:29,559 Speaker 3: and I don't care what the goal is. Ideally, if 271 00:11:29,559 --> 00:11:32,360 Speaker 3: you're new in entrepreneurship, you don't want to set a 272 00:11:32,920 --> 00:11:35,520 Speaker 3: sales goal or a reward goal. You want to set 273 00:11:35,520 --> 00:11:38,280 Speaker 3: a work goal. So your work goal might be starting 274 00:11:38,280 --> 00:11:41,840 Speaker 3: out from six to seven, every single day, I'm going 275 00:11:41,880 --> 00:11:44,880 Speaker 3: to work on this product or this project, whatever it 276 00:11:44,920 --> 00:11:46,640 Speaker 3: is I'm doing from six to seven. If you got 277 00:11:46,640 --> 00:11:49,000 Speaker 3: a podcast, from six to seven, I'm reaching out to 278 00:11:49,080 --> 00:11:51,560 Speaker 3: people to be on my I don't care what they say. 279 00:11:51,600 --> 00:11:53,520 Speaker 3: Their answer doesn't have anything to do with me, but 280 00:11:54,000 --> 00:11:56,240 Speaker 3: for me to hit my goal from six to seven. 281 00:11:56,240 --> 00:11:59,079 Speaker 3: Because that works on consistency. You get more comfortable reaching 282 00:11:59,080 --> 00:12:00,559 Speaker 3: out and you're putting a whole bunch of people in 283 00:12:00,600 --> 00:12:04,680 Speaker 3: your pipeline. For this particular scenario, I guess we're podcasting. 284 00:12:04,720 --> 00:12:09,160 Speaker 3: But the first step is to set a consistent goal 285 00:12:09,360 --> 00:12:11,559 Speaker 3: that you can hit because you can't control if somebody 286 00:12:11,559 --> 00:12:13,439 Speaker 3: buys or not, you know what I mean. So I 287 00:12:13,520 --> 00:12:16,040 Speaker 3: think the first step is if you have a business, 288 00:12:16,559 --> 00:12:19,440 Speaker 3: you set some work goals, and out of those work goals, 289 00:12:19,480 --> 00:12:21,520 Speaker 3: if you get comfortable in that long enough, then you 290 00:12:21,559 --> 00:12:25,280 Speaker 3: set some small reward goals and you just do that consistently. 291 00:12:25,360 --> 00:12:27,360 Speaker 3: My goal is to sell one a day, whatever the 292 00:12:27,360 --> 00:12:29,720 Speaker 3: product is. Let me just sell one a day, and 293 00:12:29,760 --> 00:12:31,640 Speaker 3: you do that often enough, you'll get tired of. 294 00:12:31,559 --> 00:12:33,000 Speaker 5: That, now, you know what. I'm glad you said that, 295 00:12:33,040 --> 00:12:34,959 Speaker 5: because that's something that I learned early on in business 296 00:12:34,960 --> 00:12:37,679 Speaker 5: when I was first came into business, right, and I 297 00:12:37,760 --> 00:12:41,360 Speaker 5: learned that you can't. People make the mistake all the 298 00:12:41,400 --> 00:12:42,599 Speaker 5: time because they say, Okay, I want to make a 299 00:12:42,720 --> 00:12:45,680 Speaker 5: hundred thousand dollars, and in order to do that, I 300 00:12:45,760 --> 00:12:47,880 Speaker 5: need to make two thousand dollars a week, right, And 301 00:12:47,880 --> 00:12:50,040 Speaker 5: it's like, okay, I'm gonna make two thousand dollars a week. 302 00:12:50,040 --> 00:12:51,520 Speaker 5: I'm not going to work two weeks out of the year. 303 00:12:51,600 --> 00:12:52,959 Speaker 5: So if I make two thousand and fifty weeks, I 304 00:12:52,960 --> 00:12:55,800 Speaker 5: make a hundred thousand dollars. But that's not really an 305 00:12:55,840 --> 00:12:58,520 Speaker 5: attainable goal because it's like, what does it take to 306 00:12:58,559 --> 00:12:59,959 Speaker 5: make two thousand dollars a week? Right? 307 00:13:00,040 --> 00:13:01,360 Speaker 4: You don't know, He's never done it. 308 00:13:01,400 --> 00:13:04,240 Speaker 5: So it's like, if you're selling a product, right, you 309 00:13:04,320 --> 00:13:07,400 Speaker 5: might say, Okay, I need to sell ten of these 310 00:13:07,520 --> 00:13:10,160 Speaker 5: whatever they are in order to make two thousand. But 311 00:13:11,200 --> 00:13:13,680 Speaker 5: even saying all right, I'm gonna sell ten products, that's 312 00:13:13,679 --> 00:13:15,400 Speaker 5: really not a good goal because how are you going 313 00:13:15,440 --> 00:13:17,360 Speaker 5: to sell ten products? You gotta dig deeper to say, Okay, 314 00:13:17,400 --> 00:13:20,040 Speaker 5: in order to sell ten products, I know I need 315 00:13:20,080 --> 00:13:23,440 Speaker 5: to speak to one hundred people exactly. So the goal 316 00:13:23,520 --> 00:13:26,360 Speaker 5: is not to sell ten products. The goal is to 317 00:13:26,360 --> 00:13:28,880 Speaker 5: speak to one hundred people. So now get down even 318 00:13:28,920 --> 00:13:30,560 Speaker 5: deeper and it's like, okay, well, how do I speak 319 00:13:30,600 --> 00:13:33,640 Speaker 5: to one hundred people. I need to get twenty five referrals. 320 00:13:33,760 --> 00:13:36,319 Speaker 5: I need to go to five networking events. I need 321 00:13:36,320 --> 00:13:38,960 Speaker 5: to cold call one hundred people. That's the formula for 322 00:13:39,000 --> 00:13:41,000 Speaker 5: me to speak. My goal is to if I speak 323 00:13:41,000 --> 00:13:43,000 Speaker 5: to one hundred people, I'm going to sell ten products. 324 00:13:43,000 --> 00:13:44,599 Speaker 5: I'm going to make two thousands. But a lot of 325 00:13:44,640 --> 00:13:46,960 Speaker 5: time people do it backwards. They say I'm gonna make 326 00:13:46,960 --> 00:13:50,160 Speaker 5: two thousand, they get frustrated because it's June and they 327 00:13:50,240 --> 00:13:53,200 Speaker 5: haven't made any money, and it's like they just quit. 328 00:13:53,400 --> 00:13:53,600 Speaker 4: Yeah. 329 00:13:53,640 --> 00:13:55,080 Speaker 3: The question is like, how long did you think it 330 00:13:55,120 --> 00:13:57,000 Speaker 3: was going to take to be successful? 331 00:14:21,880 --> 00:14:24,640 Speaker 5: Kanye West? That's uh, our brother. 332 00:14:24,680 --> 00:14:25,640 Speaker 4: We can't throw him away. 333 00:14:25,480 --> 00:14:27,240 Speaker 5: He Kanye West. He went to his concert. 334 00:14:27,360 --> 00:14:29,640 Speaker 2: I go to a lot of I've been to a 335 00:14:29,760 --> 00:14:31,440 Speaker 2: number of his concerts. I remember the first time I 336 00:14:31,440 --> 00:14:34,320 Speaker 2: saw him. He was opening up for Usher on a 337 00:14:34,360 --> 00:14:36,520 Speaker 2: Confessions tour. That's how far back he went. To his 338 00:14:36,560 --> 00:14:39,920 Speaker 2: most recent concert. Yeah, I was at the Jesus Is King. 339 00:14:40,000 --> 00:14:41,200 Speaker 2: We told that story alive. 340 00:14:41,280 --> 00:14:43,120 Speaker 4: Yeah, I went. I went to Sunday Service. 341 00:14:43,160 --> 00:14:46,040 Speaker 5: Man, he went to Sunday Services because we was at Complex. 342 00:14:46,120 --> 00:14:50,600 Speaker 5: Call me, Mike Jamore you we was at Complex con 343 00:14:50,640 --> 00:14:52,960 Speaker 5: in l A and Long Beach and he had his 344 00:14:53,080 --> 00:14:55,720 Speaker 5: show and you bought tickets to the show for all 345 00:14:55,760 --> 00:14:56,160 Speaker 5: of us. 346 00:14:56,480 --> 00:14:58,000 Speaker 4: Yeah, man, and he. 347 00:14:58,040 --> 00:15:00,200 Speaker 5: Was about to go is in Inglewood, and and you 348 00:15:00,240 --> 00:15:03,480 Speaker 5: got in the uber and nobody else got it. 349 00:15:03,760 --> 00:15:06,520 Speaker 2: Listen, let's paint this picture. It was like three o'clock. 350 00:15:06,520 --> 00:15:08,960 Speaker 2: I'm like, yo, the show starts at at four. Like, 351 00:15:09,040 --> 00:15:11,280 Speaker 2: I'm calling this uber right now, Guys, it's a forty 352 00:15:11,280 --> 00:15:12,840 Speaker 2: five minute ride to Inglewood. 353 00:15:12,880 --> 00:15:15,600 Speaker 4: Y'all coming with me? And everybody's like. I was like, 354 00:15:15,640 --> 00:15:18,720 Speaker 4: I'm calling the uber. We all walked outside. I got 355 00:15:18,720 --> 00:15:19,720 Speaker 4: in the uber. I looked back. 356 00:15:19,760 --> 00:15:22,080 Speaker 2: I saw y'all standing on the curve. I said, I'm 357 00:15:22,080 --> 00:15:24,240 Speaker 2: closing this door, and it's gonna be a one man journey, 358 00:15:24,800 --> 00:15:28,040 Speaker 2: and I looked and y'all took two steps backwards, and 359 00:15:28,040 --> 00:15:29,440 Speaker 2: I closed the door and I said, I'm going. 360 00:15:29,360 --> 00:15:32,360 Speaker 5: Yeah, no the fact shout out to ye no disrespect, 361 00:15:32,360 --> 00:15:32,960 Speaker 5: no disrespect. 362 00:15:33,040 --> 00:15:33,680 Speaker 4: Yeah, they left me. 363 00:15:33,760 --> 00:15:36,880 Speaker 5: Y'all just wasn't in vis. You gotta be mentally prepared 364 00:15:36,920 --> 00:15:37,160 Speaker 5: for that. 365 00:15:37,200 --> 00:15:37,920 Speaker 4: And I'm not mad at it. 366 00:15:37,960 --> 00:15:39,800 Speaker 2: I told you when I and I doubled back, I 367 00:15:39,840 --> 00:15:41,480 Speaker 2: came back, I was like, you know what, some things 368 00:15:41,560 --> 00:15:43,040 Speaker 2: you need to experience by yourself. 369 00:15:43,240 --> 00:15:44,560 Speaker 4: I kind of I needed that. Man. 370 00:15:44,600 --> 00:15:47,040 Speaker 5: It was an emotional moment. Shout Sunday shot. Yeah, you 371 00:15:47,080 --> 00:15:49,800 Speaker 5: went by yourself, but shout out the complex content. I 372 00:15:49,800 --> 00:15:52,160 Speaker 5: was pvent. But I say that to say, we're gonna 373 00:15:52,160 --> 00:15:55,960 Speaker 5: talk about Virgil Ablo. Yeah, right. And Virgil if you 374 00:15:56,280 --> 00:16:01,000 Speaker 5: if you don't know, is he just recently took the head. 375 00:16:00,920 --> 00:16:03,320 Speaker 4: Job at the hell designer of Louis vaittan. 376 00:16:03,120 --> 00:16:05,400 Speaker 5: Louis Vaitton, I think the men's line, the Louis Vuitton, right, 377 00:16:07,720 --> 00:16:11,880 Speaker 5: and yeah, so's he's big in fashion obviously, but before that, 378 00:16:12,160 --> 00:16:15,520 Speaker 5: he has a brand called off White. Yep, off White, 379 00:16:15,600 --> 00:16:19,040 Speaker 5: if you're not familiar, is huge. Just it's it's one 380 00:16:19,040 --> 00:16:21,480 Speaker 5: of these things where all of the rappers where all 381 00:16:21,560 --> 00:16:25,080 Speaker 5: the athletes wear it and it costs a thousand dollars 382 00:16:25,080 --> 00:16:26,800 Speaker 5: for a T shirt. It's crazy. It's like, you know, 383 00:16:26,840 --> 00:16:30,160 Speaker 5: Off White, It's like a thing. But so I mentioned 384 00:16:30,200 --> 00:16:33,280 Speaker 5: Kanye West because Virgil comes from Kanye's tree. So when 385 00:16:33,280 --> 00:16:36,680 Speaker 5: we talk about Kanye's tree, we talk about his musical tree, right, 386 00:16:37,200 --> 00:16:40,160 Speaker 5: people that have come from him. So the Big Shans 387 00:16:40,200 --> 00:16:43,880 Speaker 5: of the world, the John Legends of the world, kid 388 00:16:43,920 --> 00:16:46,760 Speaker 5: Cuddies of the world, these are all people that come 389 00:16:46,800 --> 00:16:49,600 Speaker 5: from Kanye's earners. 390 00:16:49,600 --> 00:16:49,960 Speaker 4: What's up? 391 00:16:50,040 --> 00:16:52,520 Speaker 2: You ever walk into a small business and everything just 392 00:16:52,680 --> 00:16:55,840 Speaker 2: works like the checkout is fast, the seats of digital 393 00:16:56,400 --> 00:16:59,360 Speaker 2: tipping is a breeze, and you're out the door before 394 00:16:59,360 --> 00:17:03,880 Speaker 2: the line even odds are they're using Square. We love 395 00:17:03,920 --> 00:17:07,080 Speaker 2: supporting businesses that run on Square because it just feels seamless. 396 00:17:07,200 --> 00:17:09,760 Speaker 2: Whether it's a local coffee shop, a vendor at a 397 00:17:09,800 --> 00:17:12,640 Speaker 2: pop up market, or even one of our merch partners. 398 00:17:12,880 --> 00:17:16,679 Speaker 2: Square makes it easy for them to take payments, manage inventory, 399 00:17:16,800 --> 00:17:20,680 Speaker 2: and run their business with confidence, all from one simple system. 400 00:17:21,160 --> 00:17:23,720 Speaker 2: If you're a business owner or even just thinking about 401 00:17:23,800 --> 00:17:26,919 Speaker 2: launching something soon, Square is hands down one of the 402 00:17:26,920 --> 00:17:30,359 Speaker 2: best tools out there to help you start, run and grow. 403 00:17:30,680 --> 00:17:33,680 Speaker 2: It's not just about payments. It's about giving you time 404 00:17:33,760 --> 00:17:36,680 Speaker 2: back so you can focus on what matters most Ready. 405 00:17:36,720 --> 00:17:40,119 Speaker 2: To see how Square can transform your business, visit Square 406 00:17:40,200 --> 00:17:44,720 Speaker 2: dot com backslash go backslash eyl to learn more that 407 00:17:44,920 --> 00:17:50,360 Speaker 2: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate. 408 00:17:50,480 --> 00:17:52,840 Speaker 2: Let's Square handle the back end so you can keep 409 00:17:52,880 --> 00:17:58,960 Speaker 2: pushing your vision forward. This episode is brought to you 410 00:17:59,000 --> 00:18:01,280 Speaker 2: by P and C Bank. A lot of people think 411 00:18:01,359 --> 00:18:05,239 Speaker 2: podcasts about work are boring, and sure, they definitely can be, 412 00:18:05,720 --> 00:18:08,960 Speaker 2: but understanding a professional's routine shows us how they achieve 413 00:18:09,040 --> 00:18:13,240 Speaker 2: their success little by little, day after day. It's like 414 00:18:13,320 --> 00:18:16,119 Speaker 2: banking with P and C Bank. It might seem boring 415 00:18:16,119 --> 00:18:18,960 Speaker 2: to save, plan and make calculated decisions with your bank, 416 00:18:19,440 --> 00:18:21,880 Speaker 2: but keeping your money boring is what helps you live 417 00:18:21,960 --> 00:18:26,040 Speaker 2: a more happily fulfilled life. P and C Bank Brilliantly 418 00:18:26,119 --> 00:18:30,679 Speaker 2: Boring since eighteen sixty five. Brilliantly Boring since eighteen sixty 419 00:18:30,680 --> 00:18:34,000 Speaker 2: five is a service mark of the PNC Financial Service Group, Inc. 420 00:18:34,440 --> 00:18:37,840 Speaker 2: P and C Bank National Association Member FDIC. 421 00:18:39,600 --> 00:18:43,280 Speaker 1: An illegal alien from Guatemala charged with raping a child. 422 00:18:43,280 --> 00:18:47,080 Speaker 1: In Massachusetts. An MS thirteen gang member from Al Salvador 423 00:18:47,320 --> 00:18:51,480 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 424 00:18:51,560 --> 00:18:55,439 Speaker 1: filming and selling child pornography in Michigan. These are just 425 00:18:55,520 --> 00:18:59,280 Speaker 1: some of the heinous migrant criminals caught because of President 426 00:18:59,320 --> 00:19:02,919 Speaker 1: Donald J. Trum leadership. I'm Christy Noman, the United States 427 00:19:02,920 --> 00:19:07,720 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 428 00:19:07,760 --> 00:19:11,320 Speaker 1: crossings are at the lowest levels ever recorded, and over 429 00:19:11,359 --> 00:19:14,600 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 430 00:19:14,640 --> 00:19:18,520 Speaker 1: were here illegally, your next you will be fine nearly 431 00:19:18,600 --> 00:19:22,600 Speaker 1: one thousand dollars a day. Imprisoned and deported, you will 432 00:19:22,640 --> 00:19:26,280 Speaker 1: never return. But if you register using our CBP home 433 00:19:26,320 --> 00:19:29,720 Speaker 1: app and leave now, you could be allowed to return legally. 434 00:19:30,080 --> 00:19:34,840 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 435 00:19:35,000 --> 00:19:37,440 Speaker 1: border and families will be protected. 436 00:19:37,520 --> 00:19:39,680 Speaker 4: Sponsored by the United States Department of Homeland Security. 437 00:19:39,760 --> 00:19:41,680 Speaker 5: Treat we can put Drake in there. No no, no, we 438 00:19:41,680 --> 00:19:43,720 Speaker 5: can't put Drake in there. No no. We can't play 439 00:19:43,720 --> 00:19:46,359 Speaker 5: with Drake like that. But so so shout out to 440 00:19:46,359 --> 00:19:51,600 Speaker 5: the six God, so so so d so. But music 441 00:19:51,720 --> 00:19:56,160 Speaker 5: is crazy. His branches is crazy in music, but even 442 00:19:56,240 --> 00:19:59,840 Speaker 5: more impressive is his fashion. Yeah, so people, I would 443 00:19:59,840 --> 00:20:02,159 Speaker 5: say more impressive. The people come from under Kanye in 444 00:20:02,200 --> 00:20:03,480 Speaker 5: fashion is Jerry Lorenzo. 445 00:20:03,600 --> 00:20:04,880 Speaker 4: Yeah, fair God, Fair of God. 446 00:20:05,920 --> 00:20:08,280 Speaker 5: Virgil Ablow, who we just talked about Off White yep, 447 00:20:09,800 --> 00:20:13,159 Speaker 5: dn Ce, who worked the Jordan brand yep and what 448 00:20:13,240 --> 00:20:13,760 Speaker 5: else did he do? 449 00:20:13,840 --> 00:20:16,800 Speaker 2: He still has it and he has the rs VP shop. Yeah, 450 00:20:16,960 --> 00:20:18,560 Speaker 2: he has a couple of deals he did. Uh, he 451 00:20:18,600 --> 00:20:20,080 Speaker 2: did a deal with the NBA where he likes in 452 00:20:20,119 --> 00:20:20,640 Speaker 2: some of this stuff. 453 00:20:20,680 --> 00:20:24,800 Speaker 5: Yeah, and Virgil and Kanye actually moved to the all 454 00:20:24,840 --> 00:20:27,280 Speaker 5: of them. They literally for like six months and they 455 00:20:27,520 --> 00:20:30,840 Speaker 5: interned at Louis Vautan. So it's crazy. So Louis Vuitton 456 00:20:30,960 --> 00:20:33,439 Speaker 5: don actually now Louis Vuitton did. Yeah, he got his 457 00:20:33,480 --> 00:20:36,320 Speaker 5: whole name from that whole vibe. So what happens? Okay, 458 00:20:36,359 --> 00:20:39,159 Speaker 5: So Virgil starts a company called Off White right, and 459 00:20:39,280 --> 00:20:42,840 Speaker 5: Off White blows up. Off Fight becomes a really big thing, 460 00:20:43,160 --> 00:20:45,480 Speaker 5: and it's one of those things, like I said, where 461 00:20:45,560 --> 00:20:47,560 Speaker 5: everybody's just it's like you got to get an off 462 00:20:47,560 --> 00:20:48,520 Speaker 5: White shirt. 463 00:20:48,640 --> 00:20:50,720 Speaker 2: It started before like he built the buzz because he 464 00:20:50,760 --> 00:20:53,560 Speaker 2: had that there was like this pirate's vision that fashion 465 00:20:53,560 --> 00:20:54,919 Speaker 2: line that he had done, but it was he was 466 00:20:54,960 --> 00:20:56,520 Speaker 2: putting it on other pieces of cold and so you 467 00:20:56,560 --> 00:20:58,840 Speaker 2: might see a Champion sweatshirt, but it had like the 468 00:20:58,880 --> 00:21:01,200 Speaker 2: Pirate stuff on it. So push your tea obviously, that 469 00:21:01,280 --> 00:21:01,720 Speaker 2: makes sense. 470 00:21:01,800 --> 00:21:01,919 Speaker 4: Right. 471 00:21:01,920 --> 00:21:05,320 Speaker 2: He's part of that that crew, that conglomerate at Kanye conglomerate. 472 00:21:05,400 --> 00:21:07,359 Speaker 2: So they was wearing it and then that Pirates became 473 00:21:07,520 --> 00:21:09,440 Speaker 2: a big thing like Jay Whiz and that was big, 474 00:21:10,040 --> 00:21:12,320 Speaker 2: and then somebody saw the light in him. 475 00:21:12,440 --> 00:21:19,240 Speaker 5: Yeah, that's a fact. So Marcelo Braun's Berlin Burlin, Marcelo Marcelo, Yeah, 476 00:21:19,280 --> 00:21:24,720 Speaker 5: you got Marcelo Burlin recruits him to come to Italy, right, 477 00:21:25,119 --> 00:21:28,479 Speaker 5: and so Mark he owns the New Guard group him, 478 00:21:28,600 --> 00:21:31,000 Speaker 5: he has two partners, which is a fashion conglomerate, right, 479 00:21:31,359 --> 00:21:33,480 Speaker 5: So he takes him to Italy and he shows him 480 00:21:33,560 --> 00:21:39,480 Speaker 5: their manufacturing factories. Like so yeah, we started laughing because 481 00:21:39,480 --> 00:21:41,879 Speaker 5: it like when Kanye. Remember when Kanye was on Sway 482 00:21:41,960 --> 00:21:44,600 Speaker 5: and he was like he was talking and nobody really 483 00:21:44,680 --> 00:21:46,399 Speaker 5: understood what he was talking about, and he was like, 484 00:21:46,800 --> 00:21:49,439 Speaker 5: I can't produce at this level. I can't produce, and 485 00:21:49,440 --> 00:21:51,400 Speaker 5: they like why would you, Like were you talking about? 486 00:21:51,400 --> 00:21:52,200 Speaker 5: And He's like, yo, got. 487 00:21:52,160 --> 00:21:53,800 Speaker 4: Dance to sweat, They only gonna give us tea shirts 488 00:21:53,800 --> 00:21:54,200 Speaker 4: and hat. 489 00:21:54,119 --> 00:21:56,000 Speaker 5: And so he was like and even Sewman was like, 490 00:21:56,040 --> 00:21:58,399 Speaker 5: what do you Nobody really knew what he was talking about. 491 00:21:58,440 --> 00:22:00,199 Speaker 5: He didn't really do a good job of explaining when 492 00:22:00,240 --> 00:22:01,639 Speaker 5: he was talking about. But he was just saying like 493 00:22:02,080 --> 00:22:06,080 Speaker 5: he didn't have the factories to produce, and it just 494 00:22:06,119 --> 00:22:11,160 Speaker 5: didn't go over well. Right. But it's crazy because it's 495 00:22:11,160 --> 00:22:13,400 Speaker 5: like when Virgil, they said, when he when he went 496 00:22:13,440 --> 00:22:16,040 Speaker 5: there and he saw the factories. I don't know what 497 00:22:16,080 --> 00:22:18,359 Speaker 5: they put these factors like magical fits like Willie Walker 498 00:22:18,359 --> 00:22:22,080 Speaker 5: in the Chalcoling factory. So he saw these factories and 499 00:22:22,119 --> 00:22:27,240 Speaker 5: he realized that he couldn't compete down later type vibe. 500 00:22:27,359 --> 00:22:31,480 Speaker 5: So he sells his company. And you know what's crazy 501 00:22:31,600 --> 00:22:34,080 Speaker 5: is that shout out to Dapper Dam. But when Dapper 502 00:22:34,160 --> 00:22:37,400 Speaker 5: Dam was on the Breakfast Club, when that's what really 503 00:22:37,440 --> 00:22:40,040 Speaker 5: started this whole vibe. Dapper Dam was on the Breakfast 504 00:22:40,040 --> 00:22:43,359 Speaker 5: Club and Charlemagne kept pushing them like, yo, why don't 505 00:22:43,359 --> 00:22:46,200 Speaker 5: you just own your own joint? Like why are you 506 00:22:46,280 --> 00:22:48,720 Speaker 5: working for Gucci? You've done so much for this company. 507 00:22:48,760 --> 00:22:52,240 Speaker 5: You brought the street with and conture together, like create 508 00:22:52,240 --> 00:22:54,000 Speaker 5: your own, create your own things. So then he kept 509 00:22:54,040 --> 00:22:56,520 Speaker 5: pushing them on that, and then that was like, well, 510 00:22:56,560 --> 00:22:59,840 Speaker 5: who what black designer owns their own outright, like on 511 00:23:00,080 --> 00:23:02,359 Speaker 5: high level, on a very high level. And he was 512 00:23:02,400 --> 00:23:05,359 Speaker 5: like off white Virgil, And then he was like does 513 00:23:05,400 --> 00:23:11,080 Speaker 5: he does? So then Charlamagne was like, well what does 514 00:23:11,080 --> 00:23:12,560 Speaker 5: that mean? What are you saying? He's like, I'm not 515 00:23:12,560 --> 00:23:14,520 Speaker 5: saying anything. He's like, through your research. 516 00:23:14,240 --> 00:23:16,080 Speaker 2: I promise you, Like as soon as I saw that, 517 00:23:16,160 --> 00:23:17,680 Speaker 2: and then one week later this whole story. 518 00:23:18,119 --> 00:23:20,159 Speaker 4: I was like, yo, I'm doing research and then we 519 00:23:20,240 --> 00:23:20,600 Speaker 4: found this. 520 00:23:20,680 --> 00:23:24,359 Speaker 5: I'm like so surprised. It turns out that he doesn't 521 00:23:24,359 --> 00:23:27,280 Speaker 5: own off white. New Guard Group owned off white right 522 00:23:29,240 --> 00:23:32,399 Speaker 5: majority state. So what happens is that he sold it 523 00:23:32,440 --> 00:23:33,800 Speaker 5: to the New Guard Group. All right, it happens all 524 00:23:33,800 --> 00:23:35,359 Speaker 5: the time people sell that company. But what makes this 525 00:23:35,480 --> 00:23:39,000 Speaker 5: interesting is that he still has control over it in 526 00:23:39,040 --> 00:23:42,959 Speaker 5: a certain way because he kept the licensing right. So 527 00:23:43,000 --> 00:23:44,600 Speaker 5: this is very important. This, this is this is where 528 00:23:44,600 --> 00:23:46,720 Speaker 5: the story gets interesting. So he sold the company to 529 00:23:46,720 --> 00:23:48,720 Speaker 5: the New Guard Roup, but he kept the licensing rights. 530 00:23:49,280 --> 00:23:52,359 Speaker 5: So what happens is that New Guard was in control 531 00:23:52,400 --> 00:23:55,840 Speaker 5: of development, distribution, and manufacturing, so they they watch everything 532 00:23:55,880 --> 00:24:00,479 Speaker 5: everything right, But but he was in control of licensing them. 533 00:24:00,880 --> 00:24:02,639 Speaker 5: In order for them to put it in any store 534 00:24:02,720 --> 00:24:06,439 Speaker 5: or to sell it effectively, they have to rent the 535 00:24:06,520 --> 00:24:09,560 Speaker 5: licensing rights from him, and then they split. They don't 536 00:24:09,600 --> 00:24:11,280 Speaker 5: they didn't say what their agreement was as far as 537 00:24:11,320 --> 00:24:13,760 Speaker 5: the split, but they split. Let's just say hypothetically it's 538 00:24:13,760 --> 00:24:16,720 Speaker 5: fifty to fifty split. And so he still makes money, 539 00:24:16,760 --> 00:24:19,040 Speaker 5: but he's not actually doing anything which actually works out 540 00:24:19,040 --> 00:24:21,560 Speaker 5: for him now just he could focus and to see 541 00:24:21,600 --> 00:24:24,520 Speaker 5: his energy on running Louis Vatan. 542 00:24:24,600 --> 00:24:27,320 Speaker 2: Yeah, and that's the beautiful thing about licensing and trademarking 543 00:24:27,400 --> 00:24:29,399 Speaker 2: is that he can do it with this one and 544 00:24:29,480 --> 00:24:31,120 Speaker 2: right now, this group that this deal that he has 545 00:24:31,160 --> 00:24:34,399 Speaker 2: with New Guarden, we'll talk about who they sold it to, 546 00:24:34,520 --> 00:24:36,800 Speaker 2: is that this one's exclusive. But the next time, and 547 00:24:37,080 --> 00:24:38,320 Speaker 2: like we said, we don't know the terms of the 548 00:24:38,320 --> 00:24:40,159 Speaker 2: money in the contract. We don't know the terms of 549 00:24:40,160 --> 00:24:42,159 Speaker 2: the years either. But as soon as this deal is done, 550 00:24:42,440 --> 00:24:45,600 Speaker 2: he can license to New Guard, he can license to 551 00:24:45,920 --> 00:24:46,359 Speaker 2: this person. 552 00:24:46,440 --> 00:24:48,160 Speaker 4: He could I mean, he can do it as many 553 00:24:48,160 --> 00:24:49,680 Speaker 4: times or with whoever he wants. 554 00:24:49,680 --> 00:24:53,160 Speaker 5: So the licensing thing is extremely it's an interesting conversation, 555 00:24:53,440 --> 00:24:56,080 Speaker 5: especially when it comes to fashion because people don't fully understand, 556 00:24:56,119 --> 00:25:00,800 Speaker 5: like you know, who's huge in fashion, so this you 557 00:25:00,800 --> 00:25:02,400 Speaker 5: never really think about it like this and shout out 558 00:25:02,400 --> 00:25:04,560 Speaker 5: the prince down Now another ey L alumni he was. 559 00:25:04,600 --> 00:25:06,880 Speaker 5: He was in a store I think like a month ago. 560 00:25:07,080 --> 00:25:10,800 Speaker 5: He did a whole Instagram clip about this. But Disney 561 00:25:10,920 --> 00:25:15,280 Speaker 5: licensed their characters out all the time, all the time, 562 00:25:15,400 --> 00:25:17,760 Speaker 5: especially fashion. They're real big and fashion. So we talked 563 00:25:17,760 --> 00:25:21,240 Speaker 5: about like back in the day with Iceberg with Goofy, 564 00:25:21,359 --> 00:25:25,480 Speaker 5: Goofy with Goofy, and Goofy was on all the sweaters. 565 00:25:25,680 --> 00:25:29,720 Speaker 5: They're not using Goofy, just saying I want to use Goofy. No, 566 00:25:29,800 --> 00:25:31,560 Speaker 5: you can't do that. It's a selling You got a 567 00:25:31,640 --> 00:25:32,200 Speaker 5: license it. 568 00:25:32,880 --> 00:25:33,240 Speaker 4: So they did. 569 00:25:33,320 --> 00:25:35,280 Speaker 2: They had Mickey too. I remember they I remember the sweater. 570 00:25:35,680 --> 00:25:37,720 Speaker 2: Mickey had the one. So they had Mickey, they had 571 00:25:37,760 --> 00:25:40,400 Speaker 2: Goofy Peanuts. They also licensed that. But it's like they 572 00:25:40,440 --> 00:25:42,160 Speaker 2: have to pay to use those characters. 573 00:25:42,240 --> 00:25:42,480 Speaker 4: Yeah. 574 00:25:42,680 --> 00:25:44,560 Speaker 5: And the crazy thing is like, so when you go 575 00:25:44,600 --> 00:25:46,960 Speaker 5: in the mall, because you see especially now it's Holliday time, 576 00:25:47,359 --> 00:25:51,080 Speaker 5: you see a bunch of shirts with Snoopy, Mickey, especially 577 00:25:51,119 --> 00:25:54,679 Speaker 5: Mickey Mouse, Mickey Mouse Mini Mouse. They're huge. You never 578 00:25:54,720 --> 00:25:56,399 Speaker 5: really tried, you never really paid attention. 579 00:25:56,520 --> 00:25:56,680 Speaker 4: Right. 580 00:25:57,000 --> 00:25:58,680 Speaker 5: But if you go and you look at the tag, 581 00:25:58,720 --> 00:26:00,359 Speaker 5: they're not going to say Disney. 582 00:26:00,400 --> 00:26:01,879 Speaker 4: Right. You could go in Old Navy right now and 583 00:26:01,880 --> 00:26:04,679 Speaker 4: find the Mickey Mouse T shirt or Urban Outfitters. 584 00:26:04,280 --> 00:26:06,760 Speaker 5: And all of these, all of these different companies that 585 00:26:06,960 --> 00:26:10,320 Speaker 5: put those characters on it, they have to pay Disney, right, 586 00:26:10,359 --> 00:26:13,320 Speaker 5: So they license their characters out on Fashion, they license 587 00:26:13,400 --> 00:26:18,239 Speaker 5: other stuff out to the music. Yeah, they like Netflix, right, 588 00:26:18,320 --> 00:26:21,199 Speaker 5: Like the movies before they started their own streaming service, 589 00:26:21,359 --> 00:26:23,520 Speaker 5: all of the Marble catalog was on Netflix. 590 00:26:23,600 --> 00:26:23,800 Speaker 4: Right. 591 00:26:24,400 --> 00:26:28,879 Speaker 5: Netflix is paying Disney big money, big money to use this. 592 00:26:28,920 --> 00:26:31,040 Speaker 2: It's the reason why now like with Disney Plus that 593 00:26:31,520 --> 00:26:34,600 Speaker 2: all like Black Panther's not on Disney Plus yet, or 594 00:26:34,680 --> 00:26:36,480 Speaker 2: like Star Wars, The New Hope is not on Disney 595 00:26:36,480 --> 00:26:38,879 Speaker 2: Plus yet because the licensing agreement hasn't run out. As 596 00:26:38,920 --> 00:26:41,080 Speaker 2: soon as it does, that'll be on Disney Plus. Netflix 597 00:26:41,080 --> 00:26:42,439 Speaker 2: will never see another Disney product. 598 00:26:42,520 --> 00:26:45,000 Speaker 5: Yeah. So it's the same thing with fashion and some 599 00:26:45,040 --> 00:26:51,840 Speaker 5: of your top favorite designers. They don't own, right. You 600 00:26:51,920 --> 00:26:54,200 Speaker 5: think they do because it's the name, because it's the name, 601 00:26:54,520 --> 00:27:00,000 Speaker 5: but larger corporations like the New Guard Group, they own it, right, 602 00:27:00,359 --> 00:27:02,440 Speaker 5: So this happens all the time. Also, we talked about 603 00:27:02,480 --> 00:27:03,720 Speaker 5: as far as even in real estate. 604 00:27:04,240 --> 00:27:08,199 Speaker 2: So Trump is a guy in New York City, you know, 605 00:27:08,280 --> 00:27:11,399 Speaker 2: like especially maybe ten years prior to today, when you 606 00:27:11,480 --> 00:27:13,240 Speaker 2: drove down the West Side Highway, it was nothing but 607 00:27:13,320 --> 00:27:15,880 Speaker 2: buildings that said Trump Tower, Trump Tower, Trump Tower, Trump Tower. 608 00:27:16,280 --> 00:27:19,520 Speaker 2: He doesn't own the building, the land itself. He just 609 00:27:19,640 --> 00:27:22,280 Speaker 2: licensed his name to put on the building, which in 610 00:27:22,320 --> 00:27:25,480 Speaker 2: turn people associate with the lifestyle. It's like, this is 611 00:27:25,520 --> 00:27:28,480 Speaker 2: high luxury. I'm living in the Trump Tower. I have money, 612 00:27:28,480 --> 00:27:30,600 Speaker 2: I have high luxury. There's a certain lifestyle that comes 613 00:27:30,600 --> 00:27:30,879 Speaker 2: with it. 614 00:27:31,040 --> 00:27:35,479 Speaker 5: Yeah, he did that probably the best, honestly. I mean, 615 00:27:35,520 --> 00:27:37,600 Speaker 5: hate it and love it. But you gotta always look 616 00:27:37,600 --> 00:27:40,560 Speaker 5: at a business case study, right, You got to take 617 00:27:40,560 --> 00:27:43,159 Speaker 5: emotions out when you're looking at business. So whether you know, 618 00:27:43,240 --> 00:27:45,440 Speaker 5: politics is very divisive. So whether you love them, whether 619 00:27:45,480 --> 00:27:48,280 Speaker 5: you hate him, whatever, you gotta look at the business 620 00:27:48,280 --> 00:27:50,880 Speaker 5: model behind it, right, Like all of this stuff from 621 00:27:50,960 --> 00:27:55,080 Speaker 5: his ties, a lot of his golf courses, all of 622 00:27:55,080 --> 00:27:58,160 Speaker 5: those buildings, those Trump Tower, very few of those does 623 00:27:58,200 --> 00:27:59,159 Speaker 5: he actually. 624 00:27:58,800 --> 00:27:59,720 Speaker 4: Owned the casino too. 625 00:28:00,400 --> 00:28:04,280 Speaker 5: He licensed his name people pay him because he built 626 00:28:04,320 --> 00:28:09,000 Speaker 5: the brand around Trump, the name Trump, and now it's like, okay, 627 00:28:09,400 --> 00:28:12,639 Speaker 5: just the name on itself, I can make money via value. 628 00:28:13,440 --> 00:28:16,480 Speaker 5: So this is what makes the Virgil deal interesting because 629 00:28:16,520 --> 00:28:18,760 Speaker 5: it's like, okay, like we said, people sell their companies 630 00:28:18,760 --> 00:28:21,040 Speaker 5: all the time. We talked about Kylie Jenner recently selling 631 00:28:21,480 --> 00:28:24,400 Speaker 5: fifty percent of our company. So he sold the company, 632 00:28:24,520 --> 00:28:27,959 Speaker 5: but he also is making money on the back end 633 00:28:27,960 --> 00:28:29,439 Speaker 5: because he licensed it right. 634 00:28:29,760 --> 00:28:31,760 Speaker 2: And that's one of the things they said, especially in fashion, 635 00:28:31,760 --> 00:28:35,080 Speaker 2: if anyone's trying to start something, owning the trademark is 636 00:28:35,119 --> 00:28:37,160 Speaker 2: probably the most valuable thing you can have in fashion 637 00:28:37,200 --> 00:28:39,960 Speaker 2: because that lives on forever. Like this least agreement that 638 00:28:40,000 --> 00:28:43,080 Speaker 2: you might have eventually they're renting, but that lives on forever. 639 00:28:43,080 --> 00:28:44,800 Speaker 2: As soon as that agreement is done, you can find 640 00:28:45,000 --> 00:28:47,800 Speaker 2: seven different partners to now license with, and then that 641 00:28:47,840 --> 00:28:50,840 Speaker 2: lives on in perpetuity. It's like keep that he you 642 00:28:50,840 --> 00:28:52,760 Speaker 2: know what he does. He owns his masters. We always 643 00:28:52,760 --> 00:28:54,959 Speaker 2: talk about music. Yeah, Virgil owns his masses. 644 00:28:55,040 --> 00:28:58,440 Speaker 5: But so but now what happens is that so now 645 00:28:58,520 --> 00:29:01,360 Speaker 5: guard Croup gets brought happens Okay, so Virgil has to 646 00:29:01,400 --> 00:29:04,360 Speaker 5: deal with new Guard Group, right, and he sells him 647 00:29:04,880 --> 00:29:06,960 Speaker 5: a percentage of a large percentage of the company, but 648 00:29:07,000 --> 00:29:10,800 Speaker 5: he keeps the licensing agreement. Right. They do all of 649 00:29:10,840 --> 00:29:13,520 Speaker 5: the work, they manufactured, they distributed, they do everything. He 650 00:29:13,560 --> 00:29:16,880 Speaker 5: gets paid and they have a good relationship, I'm assuming, right, 651 00:29:17,600 --> 00:29:21,200 Speaker 5: But now new Guard Group gets brought by G three, 652 00:29:21,280 --> 00:29:25,120 Speaker 5: which is another fashion conglomerate company. So now this way 653 00:29:25,120 --> 00:29:27,840 Speaker 5: it becomes a little complicated because it's like, Okay, it's 654 00:29:27,840 --> 00:29:29,640 Speaker 5: like a record label. We have Mickey facts only saying 655 00:29:29,640 --> 00:29:31,480 Speaker 5: he got dropped by one record label or the record 656 00:29:31,520 --> 00:29:33,560 Speaker 5: label got acquired by another record label. Right, So it's 657 00:29:33,600 --> 00:29:36,160 Speaker 5: like you might have a good understanding with an executive 658 00:29:36,200 --> 00:29:40,280 Speaker 5: at RCA, but now yeah, so now it's a whole different, 659 00:29:40,600 --> 00:29:43,440 Speaker 5: you know, relationship. So it's the same thing with this, right. 660 00:29:43,520 --> 00:29:45,760 Speaker 5: So it's like, Okay, you might not be on the 661 00:29:45,760 --> 00:29:49,280 Speaker 5: same page, right because now you got the company that 662 00:29:49,320 --> 00:29:53,520 Speaker 5: you sold it to got acquired. So I'm assuming that 663 00:29:53,600 --> 00:29:56,520 Speaker 5: you know, obviously, Virgil was seasoned, and I'm assuming he 664 00:29:56,560 --> 00:29:59,440 Speaker 5: has a good counsel and he's around good people that's 665 00:29:59,440 --> 00:30:01,760 Speaker 5: give him good ice, and he's knowledge with himself. So 666 00:30:01,880 --> 00:30:04,280 Speaker 5: now what you do is you put a termination Clauset. 667 00:30:04,000 --> 00:30:06,800 Speaker 2: A termination provision really, So it's like what that means 668 00:30:06,880 --> 00:30:10,440 Speaker 2: is like if a brand, if the company decides to 669 00:30:10,480 --> 00:30:13,040 Speaker 2: put out stuff that does not represent the brand any further, 670 00:30:13,240 --> 00:30:14,800 Speaker 2: then he has the right to say, you know what, 671 00:30:14,880 --> 00:30:16,880 Speaker 2: we don't want to do business anymore since you've sold 672 00:30:16,920 --> 00:30:20,239 Speaker 2: it the company and we lost our agreement. If you 673 00:30:20,280 --> 00:30:23,680 Speaker 2: can't match what we are expectations going forward, if we're 674 00:30:23,720 --> 00:30:26,239 Speaker 2: not a high luxury brand and going forward we end 675 00:30:26,280 --> 00:30:29,360 Speaker 2: up in like a TJ Max or something, our deals terminated. 676 00:30:29,680 --> 00:30:33,360 Speaker 5: Yeah, it's very important. So that's very important because you 677 00:30:33,440 --> 00:30:35,880 Speaker 5: always gotta I always give the analogy of like when 678 00:30:35,920 --> 00:30:38,000 Speaker 5: you go to the movies, like before a movie starts, 679 00:30:38,000 --> 00:30:40,200 Speaker 5: they always say, like, visit an exit right when you're 680 00:30:40,360 --> 00:30:43,000 Speaker 5: on that point when you get on a plane, before 681 00:30:43,000 --> 00:30:45,280 Speaker 5: the plane takes off, they tell you where the exit 682 00:30:45,320 --> 00:30:48,160 Speaker 5: rolls are and they tell you like the procedure like 683 00:30:48,240 --> 00:30:51,960 Speaker 5: if if an emergency happens, right, So if you really 684 00:30:52,120 --> 00:30:54,400 Speaker 5: on point before you go to any building, you always 685 00:30:54,400 --> 00:30:56,920 Speaker 5: got to recognize the exit before you cause it's like 686 00:30:57,000 --> 00:30:59,719 Speaker 5: getting out is more important than getting in. You have 687 00:30:59,800 --> 00:31:02,640 Speaker 5: to you have to identify an exit preparably before you 688 00:31:02,680 --> 00:31:04,479 Speaker 5: even get in. Right, because you don't want to get 689 00:31:04,520 --> 00:31:06,280 Speaker 5: somewhere and you don't know, then you got to kind 690 00:31:06,280 --> 00:31:08,240 Speaker 5: of like uk around the room with the exit. So 691 00:31:08,320 --> 00:31:11,560 Speaker 5: if you like presidents, right, they already mapped out the 692 00:31:11,640 --> 00:31:15,240 Speaker 5: exit strategy before they actually getting out the secret services job. 693 00:31:15,800 --> 00:31:18,720 Speaker 5: So in business is no different. Before you do a deal, 694 00:31:18,720 --> 00:31:21,200 Speaker 5: you got to figure out the exit strategy. Hopefully it 695 00:31:21,240 --> 00:31:23,239 Speaker 5: doesn't go bad, but you always got to think what 696 00:31:23,280 --> 00:31:25,040 Speaker 5: if it does. Right, It's like it's like in a 697 00:31:25,080 --> 00:31:26,720 Speaker 5: prenumptial agreem when you getting married. 698 00:31:26,560 --> 00:31:26,960 Speaker 4: What's that. 699 00:31:28,760 --> 00:31:31,440 Speaker 5: Hopefully Hopefully hopefully you never have to use it, but 700 00:31:31,920 --> 00:31:34,000 Speaker 5: just in case fifty percent chance that it, you know, 701 00:31:34,960 --> 00:31:37,560 Speaker 5: it doesn't work out, you know, you got to your 702 00:31:37,560 --> 00:31:41,720 Speaker 5: walking papers already established. So that's extremely important for entrepreneurs. 703 00:31:41,720 --> 00:31:44,080 Speaker 5: And this is a very high level case, but any 704 00:31:44,160 --> 00:31:47,440 Speaker 5: level of business ship partnership, whenever you are doing business 705 00:31:47,480 --> 00:31:49,960 Speaker 5: with somebody, you always got to have an exit built 706 00:31:49,960 --> 00:31:52,800 Speaker 5: in because if not, now you get. 707 00:31:52,640 --> 00:31:56,120 Speaker 4: Screwed, Yeah, you get stuck or drop yeah n G. 708 00:31:56,320 --> 00:32:01,120 Speaker 5: Three. So they also own Donna car right, So that 709 00:32:01,200 --> 00:32:04,680 Speaker 5: Donna Karen stories is interesting as well because. 710 00:32:04,400 --> 00:32:06,320 Speaker 4: It's like the flip side of the Virgil situation. 711 00:32:06,640 --> 00:32:08,200 Speaker 5: Right right, She didn't. 712 00:32:08,200 --> 00:32:10,480 Speaker 2: She didn't license her name, right, she didn't license her name, 713 00:32:10,560 --> 00:32:11,720 Speaker 2: and she got acquired. 714 00:32:11,880 --> 00:32:13,400 Speaker 4: She actually got acquired by lvm A. 715 00:32:13,560 --> 00:32:15,360 Speaker 5: Lvm A shot the Wall Street Trapper. We talked about 716 00:32:15,360 --> 00:32:16,160 Speaker 5: that in episode. 717 00:32:15,880 --> 00:32:18,320 Speaker 2: LVMH, and they just did to deal with Tiffany's. They 718 00:32:18,320 --> 00:32:19,800 Speaker 2: just bought Tiffany's for sixteen billion. 719 00:32:19,960 --> 00:32:22,600 Speaker 5: LVMH one of the largest companies in the world. 720 00:32:22,400 --> 00:32:26,080 Speaker 4: The largest high fashion, one of. 721 00:32:26,040 --> 00:32:28,680 Speaker 5: The largest, well Apple is the largest, right right right, 722 00:32:28,720 --> 00:32:32,560 Speaker 5: I'm my fashion fashion Yeah, so LVMH, I said, we 723 00:32:32,560 --> 00:32:35,280 Speaker 5: talked about that in episode forty four Wall Street Trapper. 724 00:32:35,560 --> 00:32:40,480 Speaker 5: But they own Louis Vuitton, Hennessy, Moat, a bunch of 725 00:32:40,520 --> 00:32:45,080 Speaker 5: different stuff Tiffany's. Now they own a long list of 726 00:32:45,200 --> 00:32:50,280 Speaker 5: high fashion and just high lifestyle items. So she sold, 727 00:32:50,360 --> 00:32:52,200 Speaker 5: she sold her company to them in two thousand for 728 00:32:52,240 --> 00:32:53,320 Speaker 5: four and fifty million. 729 00:32:53,320 --> 00:32:54,200 Speaker 4: That's a lot of money. 730 00:32:55,200 --> 00:32:57,520 Speaker 5: But that that took out the game, right, but they 731 00:32:57,520 --> 00:32:58,240 Speaker 5: still use her name. 732 00:32:58,920 --> 00:33:02,320 Speaker 2: She sold her brand and her entity, so Donna Carratt International, 733 00:33:02,360 --> 00:33:05,920 Speaker 2: which encompasses DKY and everything else that comes with Donna Karen. 734 00:33:06,560 --> 00:33:10,920 Speaker 5: But now so they sold did to G three, another 735 00:33:11,000 --> 00:33:15,040 Speaker 5: G three acquire in twenty fifteen for six hundred and 736 00:33:15,040 --> 00:33:17,080 Speaker 5: fifty million, so they made two hundred So they made 737 00:33:17,120 --> 00:33:17,880 Speaker 5: two hundred mil. 738 00:33:18,000 --> 00:33:20,960 Speaker 2: But during that, like when they sell it, she steps down, right, 739 00:33:20,960 --> 00:33:23,120 Speaker 2: So she steps down from her position. I think when 740 00:33:23,120 --> 00:33:24,800 Speaker 2: she sold it to LVMA, she stayed on its head 741 00:33:24,800 --> 00:33:26,400 Speaker 2: designer twenty fifteen. 742 00:33:26,440 --> 00:33:28,680 Speaker 4: She steps down. So now she has nothing to do 743 00:33:28,760 --> 00:33:29,280 Speaker 4: with the brand. 744 00:33:29,400 --> 00:33:31,719 Speaker 5: No, she's done, but the brand still makes money. 745 00:33:31,880 --> 00:33:35,240 Speaker 2: The brand is super profitable, like last year I think 746 00:33:35,320 --> 00:33:38,360 Speaker 2: five hundred and seventy million in profit. She gets none 747 00:33:38,360 --> 00:33:41,200 Speaker 2: of it, and she has no say in a brand 748 00:33:41,200 --> 00:33:44,800 Speaker 2: that has her name, Like she could walk into any 749 00:33:44,840 --> 00:33:47,880 Speaker 2: store to say Donna Karen and it's like wait, they 750 00:33:47,880 --> 00:33:49,720 Speaker 2: made that, and she can do nothing. Even though it 751 00:33:49,760 --> 00:33:51,040 Speaker 2: has her name on it, she can't use it. 752 00:33:51,040 --> 00:33:52,880 Speaker 5: That's interesting because, like I said, a lot of times 753 00:33:52,880 --> 00:33:55,120 Speaker 5: people don't fully understand, like when they just see headlines 754 00:33:55,120 --> 00:33:57,600 Speaker 5: in the news. But these are things that I think 755 00:33:57,640 --> 00:34:00,440 Speaker 5: any entrepreneur can learn from because it's like, Okay, he's 756 00:34:00,440 --> 00:34:02,240 Speaker 5: so it's a very savvy move that he did where 757 00:34:02,240 --> 00:34:04,880 Speaker 5: he sold the company, but he kept the licensing right right, 758 00:34:05,200 --> 00:34:07,840 Speaker 5: So now he's still gonna make money in perpetuity as 759 00:34:07,880 --> 00:34:08,960 Speaker 5: long as he keeps that. 760 00:34:08,920 --> 00:34:10,760 Speaker 4: Agreement, the next deal is gonna be silly. 761 00:34:10,920 --> 00:34:14,319 Speaker 5: And yeah, as long as the company keeps growing, he 762 00:34:14,400 --> 00:34:18,120 Speaker 5: can renegotiate next time and get even more. 763 00:34:18,200 --> 00:34:19,560 Speaker 4: Yeah, because that's the thing. 764 00:34:19,560 --> 00:34:21,960 Speaker 2: It's like when you see this is an exclusive deal, 765 00:34:22,360 --> 00:34:24,319 Speaker 2: so like you'll see off white like they just did 766 00:34:24,360 --> 00:34:26,440 Speaker 2: the Ikea drop. Did you see that they put the 767 00:34:26,440 --> 00:34:27,840 Speaker 2: off White Ikea furniture? 768 00:34:27,960 --> 00:34:30,319 Speaker 4: Nah? It was crazy, So like that sells out like that, 769 00:34:30,360 --> 00:34:32,960 Speaker 4: Like the brand just grows once this deal is over. 770 00:34:33,040 --> 00:34:35,320 Speaker 2: Whenever it is, like, can you imagine the lineup of 771 00:34:35,360 --> 00:34:37,000 Speaker 2: people who are coming to knock on that door to 772 00:34:37,080 --> 00:34:37,640 Speaker 2: use the license. 773 00:34:37,600 --> 00:34:38,799 Speaker 4: It's gonna be ridiculous. 774 00:34:38,840 --> 00:34:40,799 Speaker 2: He could do it, like right now it's exclusive if 775 00:34:40,840 --> 00:34:43,719 Speaker 2: he can only use through new Guard, But I can't imagine, 776 00:34:43,760 --> 00:34:45,759 Speaker 2: Like what's gonna happen when he's a free agent and 777 00:34:45,800 --> 00:34:47,480 Speaker 2: it's like, yo, who wants to use the license. 778 00:34:47,840 --> 00:34:48,799 Speaker 4: He's gonna be out of this world. 779 00:34:49,440 --> 00:34:49,600 Speaker 2: You know. 780 00:34:49,760 --> 00:34:51,719 Speaker 5: Sometimes you get paid on front in the back end. 781 00:34:51,800 --> 00:34:54,760 Speaker 4: Yeah, man, and the little Eviton stuff is moving crazy. 782 00:34:55,280 --> 00:34:57,120 Speaker 5: Yeah, that's a fact. That's a fact. 783 00:34:57,239 --> 00:34:59,200 Speaker 2: So yeah, we get him more on your leisure that's 784 00:34:59,239 --> 00:35:01,560 Speaker 2: a fact. Make it happen us get on it. We 785 00:35:01,600 --> 00:35:02,440 Speaker 2: got to make that happen. 786 00:35:27,920 --> 00:35:31,799 Speaker 6: You just realized your business needed to hire someone yesterday. 787 00:35:32,320 --> 00:35:37,040 Speaker 6: How can you find amazing candidates fast? Easy? Just use Indeed. 788 00:35:37,480 --> 00:35:40,200 Speaker 6: Stop struggling to get your job posts seen on other 789 00:35:40,280 --> 00:35:43,920 Speaker 6: job sites. With Indeed sponsored jobs, your post jumps to 790 00:35:44,000 --> 00:35:46,560 Speaker 6: the top of the page for your relevant candidates, so 791 00:35:46,640 --> 00:35:49,640 Speaker 6: you can reach the people you want faster. 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