Jason Olsen - Silicon Slopes Lecture Series
Brian. Is, very influential, on. That. Is also very welcome, pita lizard skins and. And. So. He ought this. Our. Speakers, and. Sure. Another. Fun one that I. Was really excited that was. What. One of the high school students has a cloak. And. You. Either wear, the helmet and not, here, or you can. So. Really. Came away inspired, and motivated and, excited not. Only about the quality, of these high, school students but also, just about the diversity of. I really. Would encourage you, that throughout. Your day when you hear people complaining about stuff that's. That's, money in your pocket, that's people, that have a problem when, you complain about something think. About what's causing that problem what, can they do to fix it and so then that's it's. There it's out there. In. The number of. Thank. You, so. Yeah. Don't. Work against me I am a big red, I. Didn't. Go to you for coasters, for the flagpole I will tell you I feel like I got gypped. On a college experience. The. Time I did spend. Where. I started, in, entrepreneurship. And my. First business started, at the age of 16, in high school I was in tenth grade, that, was called Street looks calm I ran that through college, right. My junior year of college and, then starting, another business with, my brother and dad and 2004. So. 2009. Ended, up starting a, company called image studios which is the salon suite so. I'm. In some different industries, I have been in different industries that are completely. Unrelated I. Always. Beat myself that's not industry, specific, when it comes to entrepreneurship, my. Interest. Is in finding, a problem and, providing. A solution especially, in the inche market when, you can ditch yourself and you solve a problem really, well you will make a lot of money, that's. Something I would take, if you walk away from today just remember that like you've heard from your professor, and it's, all about problem solving and so when you look at where consumers, have pain points if, you can give solutions, on that you end up you tend to be. But. Where. It all started, so again, this is 1997. This. Was who here was born after 1997. Four. Years ago so here. Was the problem I had the Chevy Cavalier. This. Car I loved to death but it was a boring car I wanted to trick it out and back then and be back in that day it. Was cool to have blue headlights blue fog lights neon lights under your car this, is not stuff you see around, anymore at least in this country. But. Back, then I promise you it was really cool and so I was. On a mission to figure out how I could trick out this, black cab interior to make it cool and so, in this process I've made friends with a manager, at a little car stereo, accessory. Store, that was where we were the nearby, where we live in Atlanta so. I came in. And we finally got talking. He said look Jace if you buy three of anything he's just trying to stop this horse he, said buy three of anything I'll give you 30% discount and, so, I said I'll take four of those and I. Kept one for me it was a set of his blue fog lights and I took the other three took him to school and hopped him out of the back in the car before 9:00 in school and, quickly. Built a reputation for, having car accessories. Stereo. Equipment out of the trunk of my car which I think a lot of people talk about items, being. Stolen but they weren't they were just being sold out of there that's all I had my storefront but, I quickly started really. Realizing the, power of being able to find a product, identify. A market how can I make a markup to pay for my stuff my objective, at the time was just to pay for my stuff, so, I you. Know quickly then one, day I looked at the back of the. Box, that I was buying from him and I saw three a tracing was the district in the back of it from Yonkers New York so. I decided, to call up Yonkers, and find out how can i buy direct because I want to get the price that that guy gets right and, this. Is at the time and again. What do you might not remember this but AOL, had just come out the internet was kind of a new thing and, we would get dissed in the mail all the time like junk mail give you like 33, minutes on AOL for a mate or you get 33 minutes and then it's like 1995. A month for. Internet and you just have to pay for internet back then and a lot of in the Great Beginnings you have to pay per minute and you, had to dial up on your phone line for the house and so someone on, the internet kicked off login. So. Again picture, yourself it's it's this time in this very very, beginnings of the internet stage where there's a few, ecommerce, websites, out he, may have just launched, eBay was crazy, you. Could take jump from a garage sale put on eBay make money people were doing because, the locksmith, automatic got people really excited, to be bidding online, and clicking and.
So So. Fast forward to where I call, up Yonkers New York and I say how do I get to be a distributor, they, say it's easy they, said just, such a business license and once. We did that you'll be approved as a seller a distributor, for our products with India catalog and are priceless, so. I said great the hung up and I because I told him I work for someone else because I was 16 it probably sounded like a kid and didn't. Want to have him not take me serious so I was the assistant working for the guy down the street lux which was me and. So. That I have probably got to get a business license, and my stepdad was a sales trainer at a carpet company and. He. Had a business license on the wall and, so I thought well, he's. Got one and I thought at the time he had to be 18 to get a business license, like cigarettes, or something it's. Just like not possible, if you're a kid right and so I took, his business license photocopy, dish I did white out his name and type in street looks calm and I. Faxed, it back to Yonkers and. When i sat there waiting, for the police to come and arrest me for a, false business license I'm not endorsing. That kind of activity but I was I want to be truthful, with you how it started I had to make use of all available resources, and this was my resource, and. So ice packs that over I got a call back from Joey, and three day and. He said congratulations, here's. Your price list and we'll love to work with you so now the, items I was buying for save, $30. Selling, for 45, to 50 bucks now. I could buy a 15, to 18 dollars and sell for the same price I could. Also put those on eBay and they get 80 to 90 dollars for an option format which was again that big. Craze at the time so. This quickly started, compounding, and I started, selling lots of stuff on eBay and ended. Up realizing it this time there's no one else out there on the internet that's selling this stuff all, in one spot there, is no niche website, that just focuses on, like accessories. So. I decided, I was my next step was I'm gonna build a website and I. Learned, how to code back, then it was just HTML so it pretty much anyone could learn how to code so I'm not that smart but, built this ecommerce, website, and large. Street looks calm, when I was 17, and it. Took, off within about three months started, doing advertising, in certain car forums, trying. To figure out who my target audience was. I. Ended, up hiring my brother in my mom to, work for me. This, is the website, back. Then a lot. Of cool stuff right so. Ended. Up converting, our basement, into. Our. Inventory room. So. This. Is on the left. Side you can see that's part of the inventory room we had I took, out of the basement and then this was the hallway outside my bedroom so every morning we would wake up early before school, turned. Off 10 to 15 orders that would be in the inbox get, them all packaged up we run a school and then we get home at 3:15, grab. The boxes run to the post office because, I had a same-day shipping policy, guaranteed. Or, your money back and so, I wanted to make sure we honored. That so we had so the people at the post office got to know me they laugh I've come in with all these boxes every day and. That. Was the humble beginnings of street looks this is my bedroom which was also the shipping department. My. Mom hated all of this she just everything was just a mess all. The time but, so. This goes on for about a year and a half I'm in the senior year of high school and, so. Again I'm buying from three days out. Of the offers I'm getting my discount everything at this point is now 100, 150, San Marcos which, in retail, is about what you see 100% markup that retail is not uncommon so, when you look at like care products, and things like that all that probably, marked up about a hundred percent. Some. Items like this sometimes maybe are a little more sometimes, a little less electronics. Are a lot lower TVs. Are marked up in 20 percent at most but. So. My. Objective Dan'l was on buying a high-volume amount of products, from this company, we're. Generating about three hundred fifty thousand a year revenue out, of our basement and so, my, objective is how do I make.
More Money right so I can increase sales. Increase. My margin, on that product and, that, was what I looked at doing so I ended up doing some research and I found the. Factory, in Taiwan. That. Made these, headlight. Bulbs. So. These, bulbs right here these. Are what would turn your headlights blue, to look like the HIV headlights using parts. Today back. Then it was like only, super. Expensive luxury, cars hadn't and so, everyone, wanted that look so these headlights, I would, pay $15, for sell them for $29.99. On the website I ended, up finding the factory, that manufactured. The same exact product, and, was able to white label so I created my own brain which was called visual effects and. I designed, the label in Microsoft, Paint. Closely. I stuff some of these today you could just see how crappy it is. But. You. Can see extended life bulbs right on the corner so these. Were this. Was my brand right the period I created, a brand, for. This company. And, my cost meant from $15. Percent, to a dollar thirty five to two dollars so. That's the power of manufacturing. In volume, the only caveat to that was I had to manufacture. 2,000 sets at a time and. So now it required me to make a large investment and, tie up a lot of money in these, lights now, but, now I go from you, know one hundred and nineteen thirty percent markup to about a thousand, percent marking so. That my. Highest selling item which was incredible, so it was a really exciting time. Ended. Up running this for several more years I get started at 97, in 2004. Is, when I moved out to go to BYU I lived, in the apartments, right at the entrance of UVU on the right I think it's. Or. Whatever but there's those ten apartments, that was where I lived my first year going, to be wedding. Had. Friends all my friends with the UVU they. All work for me we would ship them pack stuff from the dorm room, ended. Up opening a kiosk in the mall at University mall for about six months during this Christmas time that was a horrible idea, never, made any money and, it was horrible hours and so I thought here's my chance to try and get into brick-and-mortar, retail, on some level fail. Realize. What works with this business is online right and, so I was. Always kind of experimenting, but that experimental, process gives. You a lot of failures but, failure is just the response backup just doesn't, work try something different right now I see, a lot of people today that just get hung up on or so freaking fail we don't try the reality, is is were programmed. As. Human beings, to fail, our way to learn, something right so we learned how to walk by falling, if, you do not have a baby to fall, your. Company's never known how to walk properly right so our our minds. Have been engineered to learn through experimenting. With the environment around us, and. When there's a failure that's a learning. For, some of us it takes a lot longer to learn what not to do and you know some of us a lot quicker but. That's the process of how we learn so. Yeah. So. Again back to 2004. So I seldom company I. Sold. It for a reasonable, amount that. Guide the business broker that I worked with who helped me sell the business told me he said why did you know I sell this before the dot-com bubble in 2001, this. Is I don't know he, says because I could have got a million dollars for this company. You, know selling. Was nice at that time but. Anyways I sell this I'm in college and I. Am at the point where what do I do next and. I, was this close to just becoming, a residential, real estate agent, I saw a friend do it he had fun at school, I should probably not and looking. Back I'm, glad I didn't go down that route nothing wrong with that profession, it's just. My. Personality, but. Ended up partnering up with my brother and I began to start a car dealership again love, the car business. Everything about cars so. Quickly, you want to give you kind of a growth. Trajectory. Of what pressman auto has been doing from when we started where, it is today. So, after. 2004, when we started we just had a little warehouse and 300, west about, 30 cars in inventory, got four employees selling. 15, 25, cars a month. That. Sounds like a lot for a business but 420 was ripped your average tickets 25, grand so, you start doing the math you realize you're, only selling you. Know maybe a 150. Cars a year it's, tough to make money at that level the car business is a low margin, high-volume.
Business. But. So today we're at 2 locations we, have Salt Lake location one of the limited right around the corner we, have 600, cars of different Tory got 72 employees, we. Sell about 200 and, 225, cars a month. We're. Generating on track 65, million this year in revenue, we. Didn't need 5,000 company for the last three years and, west. 100. Fastest growing companies in Utah, for the last three. Years as well so. President's, been a very fun. Experience. For me because this is Tommy dating. To the retail brick-and-mortar side, of business dealing. With customers, on a face-to-face level, you're, in you're dealing with sales people you're dealing with service, you have inventory, that depreciates, every day so that only gets cheaper, every day you have to sell it as fast as you can it's, it's, probably. One of the worst. Businesses. You can get into if you ask me I love, it but it's a tough business the only business I think might be tougher as restaurants, your. Inventory, rots just like cars the longer they sit them, you know the cheaper. They get less. Here's. The photo of our team we're cooking Wonderstone just. Grabbing. It which it's grown when we look back you know that, when we started literally, was just a handful, of people, but. We had a vision we want to go and what I'm going to get into. On. This growth plan the press been so. Funky. About our five-year growth plans to our vision for the company over the next five years is to continue to grow into a regional brand we, want to add three more dealerships. For a total of five that would put us. At. That point we look at partnering with a private equity group to continue a national, expansion. Then. In ten years what we'd like to be is, our. Selves established, as a national brand. Adding. 15, more dealerships, in years five through 10 that brings us to the total 20 and. That. Market. Launch IPO. Or. We continue, on that path and just continue to grow so. Image. Studios this company is completely, different, than the core business obviously this is a salon suite so. What we do with image studios is we take large retail, space imagine, a blockbuster that's. The size of a blockbuster that used to be owned, so. We take space about five thousand square feet we build out these individuals, studios and you. Build them out as a mini hair salons and then we lease them back to care professionals, feeding. Professionals, estheticians, down text so, we attract people of the beauty areas. Industry seven years on average they're, looking, to go, out on their own but. They may not have the capital to open a salon they may not have the business background to run the business so. This is a very turnkey, way that they can safely. Start. Their own business become an entrepreneur in the beauty industry so it's like a beauty incubator. So. This. Was started during, the recession. 2009. My brother and I were, sitting at the dealership and we were literally. On the verge of bankruptcy at, that time and it, was scary because here we had gone through this, successful. Run with the street looks but, successful, run with the dealership and then all of a sudden got our butts kicked and, it, got to a point you got hit this continues, on we're at risk like there was there was times where it was this, is the end like we're starting over soon and, I remember telling John we need to look at something that's, a little more stable to kind of hedge. Our bets essentially. We looked at many different industries but the beauty industry was one that was constantly, proven, to. Thrive during, a recession and. So what happens is a lot of people will be willing to splurge on little. Things make. A makeover. New hair different. Color whatever, it is they, can't afford the vacation, they can't afford the new car they can't remodel the kitchen because, it's spending to Pennbrook you, know been tightened up but, they can still do the little stuff that makes me feel good and so spending, in, beauty goes up typically, in, and impressions, and so that's, what's really interesting about, this.
Energy So we said how do we get in here. And. No. Background in beauty I do, my own hair believe, it or not and. And. Again it's an intimidating industry, people in the industry talking different language you know that you have to you have to know what they're talking. About and all that stuff we, looked at it from the, perspective, is, work businesspeople we're. Gonna worry about a business, side of things you bring your, clients, together, we're a great formula for a success and that I didn't I've working really well so we, opened that first location, in Draper Utah 2010. By, 2015. We had five locations open here, in the Salt Lake Valley and, then. You started franchising, as. Of. Today we've got six locations in Utah we've got 42. Locations under development, in nine states for. A total of 48. Locations. In the United States so when, we look at this we're just I constantly, blown, away I'm like I can't believe what's happened because a lot of this growth has happened in the last 18, months and so. We've been working at this franchise model, the importance, of building a system of. Replicatable. System, that is it is proven that's what the franchise, where the franchise model really works so. We. Are. Real excited for what that entails, in the future so our five-year growth plan for image as. Again we want to continue to expand the business model, across the US have 200, locations, by, 2023. That. Would be the equivalent of about 65, million in revenue. 10-year. Growth plan is then to expand in international, markets, open. A hundred international, locations. And. Then opening, four hundred more locations on the US which would put us at a total of 700 locations. In. The United States or. Sorry company-wide at that, point if we reach that mark that puts us at about 230. Million in revenue. And. At that point we look at do we continue growing do we prepare, to exit what do we do at, that point in the future one, of those things would take place. So. What, I want to look, at is when I look back at, my. Starting. In high school working for college going. To. Be honest. With you. I know. That may sound surprising but I, if. I look back and I could tell myself don't work like what's the worst that's going to happen when you look at failure. Who. Cares right no one's really watching people. Watch but you're the only one that's really paying attention right. And, so the failure aspect, was something, where I there was distinct, moments in my career while I have failed to act because I was so scared what happened. Not, necessarily, financially. But more egotistical. Like how, will this look what's this kind of look people will think I'm doing, right so the ego starts to take a big part in some of these fears. Good. Friend of mine said you spoke the other day said dream so big you get uncomfortable telling, small minded people yes. I think it's a quote by Jim Carrey's on his Instagram page but. Which. By the way. When. I was preparing, for this I thought okay now if, I was in this class 15, years ago which. I took a lecture series amount. Exer series that BYU was probably was, by far the best class I took my entire kind of view and I still remember some. Of the speakers and what they said but I want. To make sure okay what could I tell you guys that I would want to know outside, of the basic business fundamentals of, how to prepare for growth and the strategy behind it building, a business model.
Writing, A business plan. Forecasting. Financials, that's the stuff you're getting here, in college, but what, is the other stuff that I wish I would have been told that could, really really help and. I mean go through a few things that I would say make the biggest impact on my life and, the, number one thing I'm going to start with is you, need to be reading books I know. That sounds that's what you hear all the time but there. Is so little really, going on today because of smart phones smart. Phones it might be in the park dumb phones they, make us so dumb and you, just end up sucked into it walking down the hallway you know you're just you you're so disconnected and disengaged, perfectly, because. Of this stupid phone that we can't put down I. But. Those, things are distractions, but, I want to give you an example if you, take. Reading which is hard for a lot of people to do what. I always tell people is why don't you try to doing it during breakfast or, lunch whatever you have time alone 15. Minutes you, spend 15, minutes a day, while you eat breakfast, read, a book so. 15, minutes a day gives. You about 5,400. Minutes a year in. Reading. That. Equates, to about 20, to 22 books a year that you will read if you read 15, minutes a day so if, you were to take on the task of savory 20 books a year that sounds over, right you, break it down to a daily habit of 15 minutes a day while you're at breakfast, that's, your honor eat breakfast, get off your phone and just read book right, imagine. What that does especially, one, of the things the other things I'll say is we need to be looking at how you become, an expert whatever. It is that you want to do I would, say go. For it but it's become an expert there's. There's nothing wrong with spending time to become better at something than someone else right those, who are experts kind of there's no money aside if you don't become an expert in whatever you like to do someone, else is going to do it and they're going to be the one that wins right so. Study. Up on topics, that are going to enable you to to. Get to where you want to go with whatever what drag is I. Would, also encourage you to engage your creator side, when. I look at people a business a lot, of numbers say well I'm just not creative, but I'm creative business and I I have to remind them and myself too when, you create a business you are in the creative process of creating something from nothing, is that not creativity, it's. Not art all the time it's not just doing hair it's not making people pretty it's not you.
Know Creating, music that's not, the only limitations, to creativity and I think a lot of people forget that when you are creating a business you are in a creative process you need to honor that and really. Get. Into that because whether or not they think you are creative, if you're creating, something you are creating, and so, you need to embrace that moving, into that. Another. Thing that I would tell you to do is our. Brains. Are, so complex, no one knows how to work they. Got. An idea in the, medicine world about how the brain works but, the brain is a mystery, right. Spend. Some time trying to learn a little bit about the, organ, that controls, everything, you do. Our read. Some books on the. Brain, the, subconscious how that affects you I'll leave you guys a list of book recommendations, that I have to cover, some of these topics that, I've read, but. Take, some time to learn about the thing that's actually you. I. Would, also say, get. Really familiar with, what, you're good at what you're not no. One's a jack-of-all-trades and. Those. Who are are just mediocre at best at everything so being. Able to, honestly. Identify. I maybe, am not that great at this and higher your weaknesses. So. Do you make sure you fill in those gaps that you're creating. Another. Big recommendation that you for anyone in here as employees, or run a business before you. Are going to be a therapist, and a psychologist on a daily basis, because you're going to be dealing with emotional, people I always, say a business, is so much fun to create setting, up all the pieces and writing a business plan and getting the business model put together and I, can see my dad everything, works just so perfect, and then you add in human beads and they screw it all up, because. They get emotional they, fight and they don't get along or the customers. There. You know there is there is some complexity, to human beings working together and, what is really. Valuable is if you I have. No going back in time have some knowledge about how, to understand, other personality, types how. To understand, my personality, how. I work well with others who I don't work. Looking. At assessments. Like the D is C the disc assessment is. A really, great personality profile, or you can do online for free.
All. Your employees should, be taking this you should be pairing people well with people they work with this tells you all of it you know. But on. Top of that the most. Important thing I would say is, don't. Be afraid to, set goals and again, back to something you hear over and over but I'll. Share with you an example, since. I was seven years old my stepdad. Would sit us down once a week and as kids he would make us track down their goals and so. I had no idea what a goal was at the time but we write down you know what I hope. We. Did this every, week all throughout, school, all the way to high school that. Ended up creating a habit to where I, began. Writing down in, a journal every, day some, of the goals I had working. On and for me it was an experiment, on tricking, my brain, because. You, write down some goals you feel good about it but then you go back to six months later I'm. Still pretty far off maybe, you get some of them done maybe you don't but what I thought is it's. Hard enough to focus is there a way I essentially, wanted his brainwash for myself. Into. Believing, and. Committing, the memory a set of things I wanted to do I believe. That when you start telling yourself something that you want to do when you set a goal the. Subconscious, mind starts, working in the background and it starts identifying, patterns so. Where do you start seeing opportunity, is that subconscious. That is saying well that might be part of what you're looking for for this bowl there's. In, my mind it's not a manifestation, thing, it's literally a pattern recognition thing, you're, training your brain to recognize patterns. Looking. To accomplish, right, and. So every. Day I would say, if. You sit down and actually. I have, stacks. Of these at home but this was the first one I started, so. This one you. See every, day will go in and. You just write like a crazy person over, and over, but. Things. Change, you adapt them you adjust them this, wreck, here, and I. Keep this and we'll never hope I never lose this but this is this, is my. Success. Right here this is what got me to where I am because. It was the constant, reminder, of where am I going to. Do it. It's. Something nice that you feel good to write in and don't, type. Typing. Is not. But. I would. And. I'll show it just in closing I want to share one thing with with, you about a goal so, mm, I. And. I kept this in my wallet and the. Date on it was my birthday in 2007. That. Was when I turned 21, and, so. My. Goal was millionaire. By the time. This. Was in my wallet every. Time I went into cash. A lot of credit card I saw, this and, it was a reminder that, this is what I'm, going. For this is what one, of my goals is I wanted. To figure out how. That I ended, up doing this the real estate so being able to this was back in the days. You. Could buy a house if you had a pulse, and bank, account and they were giving out mortgages to anyone so I was buying, houses. Probably. Was buying. Houses. Looking. At it now it. Worked out well, flip. Houses. And. So I would say this, is a ridiculous, goal for someone to say anything. Just. Figure. Out like. What's. The worst that's going to happen but I would say don't. So. I'm. Hoping, again when you look at different ways that you plan for growth the, first thing is you've gotta make sure you have a cap on where you're going and that's gonna be where again. If you need to set the stage five. Years out that I want be ten, years out it's pretty hard for people to, think past five years we're, good thinking three years out when you go four years 2005. You but, if you ask someone to think ten years out it's really it starts, to get really hard because ten years is a long time away but. You need to be thinking ten, years out and as you go, you adjust, and adapt that, plan doesn't have to stay concrete, you said. That. Is you're following, the path, you're. Going to be doing something, working. For something so it's. Really. Discipline, with, yourself, and. Allow yourself to be able to find ways that you can get to where you're trying to go but. Go have a plan, you're now leaving it up to a lot of other factors and. So it's really important, make. Sure you. Do. One thing. Every. Day some. Of the stuff you're trying to do and, rewrite, every day adjust. As you go and. Keep. That thing and.
That Is gonna be a very important, thing. We've. Got about ten minutes left, so. Any. Questions. Yeah. I. That's. The worst part right so you're at that point where you're just saying do I make this move or not and I think there's a couple things no one if you keep, telling yourself now's the mount now it's not the right time because. Of the economy, or because of this because of that if. If you have a timing issue you. Might have the wrong idea. Right a really good idea should be launched a bull at any time I would. So I would say if you're if you have to time your your, venture, because of the market. You're. Really in a risky spot is now your time you know what happens when it cycles. Back out of it now you're struggling, but, again, look, at ways you can get, rid of the timing issues what it comes down to is I would suggest looking, for a mentor. Or some kind of who's done this before one, of the best things is having, someone that you can go to been. Through it and, say. This. Is what I did. Be. Clear if you're asking for advice or, just emotional, support as well because there's nothing worse than just eating emotional, support from someone and then they start getting advice unsolicited. Advice, on what you need to do but. Clarify, that for your own benefit so you get the right feedback, from. Them but. The, mentorship, is important, I had a mentor for, straight books that was a neighbor of mine that helped me learn how to code he. Hadn't I had none of this what happened and. That. Was critical because here's someone older wiser. Say you're, doing the right thing maybe. Look at doing this try, this and, it, just got the creative, juices flowing. Yes. Was. A cash injection from the street look sale so, some of those funds going into it and then some. Other funds, that my dad and brother brought to the table but. The majority of it was through financing, so we in the auto business you can get a floor in line where the bank will floor your cards or financial, card for six months and then you have to pay them off yeah. I guess there have been six months you should get one card, you, pay an interest rate during that time so it's, actually the startup cost for a small dealerships, have not that much because you can finance your most expensive, part, which is the inventory so. That really helped and then you. Know we were small so it was there. Was no this was their no-frills thing. Warehouse, with bars in. The beginning and then, it would grew again. We took the. Profits we were earning before got any dividends. Or distributions for. Almost ten years so. We were really disciplined in saying okay we're going to live off very little allow, all the money to ride because we want to let that might grow so, we can keep ownership clean.
Or. Excessive. Finance charges. Yeah, well, I'll give you my, example I was drunk out of school in my sophomore year of college, because. Against. Reflux was going crazy and I was getting ready to sell and then, this idea of the dealership, getting going, and so there was a lot of and I kept trying to tell myself I couldn't justify why I, was in school it. Was quite, literally costing, me money to be in school because of everything I couldn't do I was, missing opportunity, and I called my stepdad. And. I knew. That he would have talked me into it because he's, such a good education. But he said. You will regret this the rest of your life if you drop out, he. Said education, only, stacks, the cards, in your favor, don't. You want the biggest card deck out there and. I thought, like I've got two years left I can do this it's. Two years. But. I. Figure. I. Would. Have I couldn't, start anything bigger than it started right wheel we all dispersed somewhere in an evening from scratch so. You're bootstrapping, but. Thing. I would have done different was visualizing. Or. Envision, where I see this company going in five years or ten years what. We're I think you, know the vision that I have now for the next five and 10 years has been accumulation, of a lot, of years of stuff working and. It's built up this this, track, record that I'm looking, at well I see what we're at 35. Percent a year well. 10, years we could be here well. What. I wish I would have done is from the beginning just said what's. Wrong with dreaming about being the largest independent leadership in the country, what. If that was our B tag like a crazy audacious, goal that we have is just let's, make this a national brand from. The beginning now it doesn't mean we're gonna be a national brand overnight but what, if we instilled, in ourselves this. This. Motivation. This this this super, crazy high task way why not be the best, nationwide. With. The image that first location, was the only location, we were going to build we didn't even plan on a second one until. The demand started coming and then we end up building five and. Along. The way franchising, kept popping in my mind but at the same time you, know I knew, that this was a franchisable. Business, from day one we, have a competition franchising. That really well I just, wish, I was sat back at that first location, said let's design this from, scratch. Based. On the intent of franchise let's get everything documented now that's, not very good. Stuff. That would have helped again, you start thinking of if I'm planning on this there's some other behaviour, activities. For. That and. Usually there are all positive, things that are good anyways whether or not you get there you're doing the right stuff to stay around set, yourself up for success. Yeah.
All. Right so. Art. Of learning cretin. Fascinating. Clip on how our brains learn, beautifully. Written by Jeff Watts in the. Under my book stealing fire I would, say a great fun book read. That one. Don't. Be just not going to do all these and. More, deep. Work is a great, book about how, to get into a really deep focus, zone where you can create really magnificent. Work, explain. A lot about our extractive, culture the smartphones these days and how toxic it is bahrain. Tools. The patents as great as a small. Suggestible. You by, eric bana that. Is on a placebo effect and power Bernie's work. With placebo, how you can trick your brain with, bow in many ways, a. Classic. Having impregnated with people and. So forth. So. I, also. Have a anyone's. Interested and they're looking at going into a start-up at, some point one of the things whenever I speak it at these universities I'll offer, startup. Checklist, I'd be happy to give you this, is just a general, generic. Checklist, is, you. Know two, or three hundred points long but it is in the startup process everything, you should be thinking about. So. If you want to contact. Me, and. I'll get this slide see you guys.