Bedros Keuilian: From $0 to $200M/Year
they push self-made entrepreneur bedros cullian has grown multiple companies to million dollar Brands Global Brands he's become a thought leader and a household name for franchises like Fit Body Boot Camp be so good at it that people will pay you to do it I want a 100 million dollar company and I deserve it and it's for me because of that I lost probably hundreds of thousands of dollars Drive leads convert them into sales that's how you build a business man I didn't come from money I started off by living in a pickup truck and eating out of dumpsters do you want to have the same transformation in your life well keep watching for more of his incredible insights major was a pleasure to to be here with you thanks for coming out Paul tell us uh our viewers about this location any significance of this location is my private gym BK strength I accidentally bought this building about five years ago I thought it was gonna be my headquarters for Fit Body Boot Camp our franchise my wife quickly reminded me after we bought the building that is across the street from the Chino State Prison and the last thing you want is for your franchisees to come into town and see the prison across the street from your headquarters so I decided to turn it into a private gym instead where me my family my clients my employees could all work out here this is a pretty cool place you have here thanks man for people that don't know about you or know very little can you eat just start with your story your background really quick where did you come from how did you end up here yeah dude I it's like the Cinderella story for me I I was six years old and my dad who was a member of the Communist Party in the Soviet Union he's like hey we're going to Escape right so all of a sudden we're packing our bags and we escape the Soviet Union uh Armenia specifically in 1980 and we come to the United States and we're poor we're broke living in Section 8 government assisted housing but what's really cool about that is I learned the value of being resourceful I learned the value of being resilient I learned the value of being able to figure things out because we my family had to figure things out we're either paying the electric bill or the gas bill or the water bill but we can't pay all the bills little did I know that that struggle as a Young Man growing up in this country didn't understand the language or the culture it was all great training to become an entrepreneur so you know sometimes our mess early on in our life becomes our message years later incredible if an entrepreneur doesn't have a business idea specifically you know how does one decide what is best to pursue that maybe fits more closely to my skills experience and so forth so somebody asked me that at a speaking event and I said hey imagine if there was a gun to your head I go now I said I'm going to pull the trigger if you don't give me the answer what is the one thing you would do for free if I paid for your whole lifestyle your health insurance everything food rent everything like oh man I would repair motorcycles like classic motorcycles like specifically Hondas is what he mentions I was like great be so good at it that people will pay you to do it like people think that I got to go out there and find this business model that is going to make me money find the thing that you're going to be passionate about even when the odds are stacked against you see I love franchising so much I love gyms so much I love health and wellness and mindset so much when the pandemic came it didn't discourage me I was still focused I was still disciplined I was still gung-ho even when we lost 218 franchise locations in the 10-month period of the pandemic could you imagine if I went into the fitness and Friends industry because it's a lucrative industry well as soon as some kind of setback comes like the pandemic I'd give up and so if you do something that you're excited about that you would do for free because it is like if someone paid for your lifestyle you would do this thing for free then be so good at it and then share it on social media that people will pay you for it how do I vet it though let's say I have an idea about my I don't know do I go through some kind of Market exploration or I would Google I love Google that's it is someone restoring old hot Classic Honda motorcycles if the answer is yes you shouldn't get discouraged like oh man someone's already got my idea if someone's proven the concept and there's 10 other people restoring it be the number one guy who restores it be the authority become a celebrity of it like find celebrities who own Hondas restored for them for free and then let them talk about it right on social media so the way I bet anything is if I come up with an idea I go is it out there already or something like it if it is it's got legs then I go how can I differentiate how can I make it unique how can I make it better it's incredible is a lot of ideas out there you guys right so just find what you're passionate about what you're passionate about what you would do for free if someone else paid for your lifestyle so what was the first business that you opened and how old were you and what was the biggest challenge in getting that going yeah so the first business was a big flop which was a online store called totalmuscle.com 1997 AOL dial up and uh obviously the internet hadn't popped off yet so that was a massive failure it was an online supplement business but I knew that there was something there and so I wasn't about to quit and it was the second or actually third iteration of my business that really took off which was actual gyms that I had across San Diego County five different gyms today how many total businesses do you have um and how what's the revenue across all of them and what's the most profitable business so today I have seven different businesses and I have equity in about a dozen others in terms of some level of equity uh profit share total net revenue from the business that I own just over 200 million dollars a year that's incredible the biggest one the big Behemoth Being Fit Body Boot Camp the International Fitness franchise all throughout the world we have hundreds of locations throughout U.S and Canada the most profitable however is not fit Body Boot Camp because there's a lot of working parts to a big franchise the most profitable business that I have is my coaching business coaching and Consulting for high-level entrepreneurs who want to add more zeros to their bank account and add more meaning to their life pictures what are some of the biggest mistakes that entrepreneurs make that you know you've learned and you've understood over time and how does that impact their business their life overall that's a really great question I found that leadership is the lid and what I mean by that is your level of leadership will determine how much money you'll make how much impact you'll have how much growth you'll see because if you can't build a team that you can lead and the team needs to be high performing you're always going to find yourself in the trenches looking down and in versus up and out and a leader is supposed to be looking up and out into the future a Visionary whereas poor leadership says well I've got bad employees so I'm going to have to be in the trenches doing the work myself and that's a big mistake so you can be an entrepreneur but you will be a bad leader yeah absolutely most of us we're not factory installed to have great leadership I think small groups of people maybe have leadership skills the rest of us have to develop it like a muscle six pillars of high performance share that with us yeah when I wrote my book man up it was really again a book for me I figured if I was such a startup failure as an entrepreneur because I wasn't a great communicator I wasn't a great leader I wasn't a great Visionary I knew how to Market and sell but that could only take you so far Fit Body bootcamp my franchise was supposed to fail three times and I was able to kind of save it from three different nose Dives because of poor leadership on my part and that's something that no entrepreneur wants to admit but poor leadership on my part almost tanked Fit Body Boot Camp so as I came out the other end and it hit the Inc 5000 lists and entrepreneur Magazine's 200 fastest growing franchises and all these accolades I was like all right what was different about badros 1.0 versus badros 2.0 and I identified these six pillars
and I wrote about it in my book man up which is who man up to your higher potential pillar one self-discipline if you're not self-disciplined if you can't lead by example you're gonna feel like an imposter and your team your clients your customers are going to see that you're an imposter player number two as a Visionary you must be able to cast a great vision and Mission like what do you want and when do you want to buy that's a great vision back in the day if you ask me Pedro's what do you want for Fit Body Boot Camp I would say a lot of locations when you want to buy as soon as possible Paul that is very unclear when I said I want 2500 locations by the year 2026. that was very specific pillar number three be a great communicator be able to articulate a message and the best way you can do that is by tell show do tell them what you want show them how you want it done ask for a due date pillar number four be decisive great leaders entrepreneurs High performers are all decisive doesn't mean they make the right decision every time but they are decisive they make a decision every time and then they have to course correct if they went down the wrong path they do but be decisive pillar number five be emotionally disciplined one time full disclosure when I was a younger entrepreneur an employee took some personal training clients and went off and started his own business I chewed him out over the phone I reacted instead of responded so someone who's emotional disciplined we'll take a step back even if it's five minutes or five days do I want to send this angry text or angry letter or make this angry call the difference between reaction and response is emotional discipline and then the sixth and final pillar is to build a high performing team if you want to succeed in any kind of business venture employees aren't going to cut it because employees clock in a little late clock out a little early and do the bare minimum to maintain employment what I want is a high performing team a group of savages that believe in the mission the vision and the leader and play to win that's a high performing team it's been a rough year inflation is at an all-time high here's what the Wall Street Journal had to say about the stock market the 60 40 portfolio is delivering its worst returns in a century supposedly we are in a recession and with a decline in the stock market I bet you're wondering what other investment options are out there well I'm truly excited to share with you guys an incredible revolutionary opportunity and that is fine art investing with Masterworks that's right Fine Art no longer for the ultra wealthy Masterworks makes it a possibility for you and everyone to participate here's how it works Masterworks as a platform that files paintings with the SEC turning legendary art into actual investment for just a fraction of the full price they have collections from respectable artists like Picasso Banksy and John Michael basquad just to name a few and they have 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channel or have an Instagram presence you know to be a successful entrepreneur do you think I can succeed without any of that yes I I think I think an entrepreneur can succeed on the on the value of their business uh their business is a solid product great service people start talking about it it'll succeed like there's plenty of businesses out there we don't know who the face of it is or the leader is and that's fine but if you are meaning and not just money driven but meaning and fulfillment driven okay I highly suggest I think most people are most people want to do more than just make money they want to help the Next Generation that's coming up and saw help them solve their problems and give them a leg up in in terms of their understanding of the meaning of life like if you understand it why not share it with the Next Generation to give them an advantage right it's like the only right thing to do right exactly and so then in that case create a platform Instagram Tick Tock YouTube and share get freely and not only does it give you fulfillment and meaning in addition to the money you're making but it also helps you become a brand and no time in history have we had the opportunity to become an individual can become a brand there used to be a time that you would have to hope that you get on the late night news or talk so show host and then you become a brand a celebrity dude now anybody anybody can become a celebrity and become a brand yeah let's use The Rock Dwayne Johnson a pro wrestler decides to turn himself into a brand and therefore can Market shoes shirts tequila movies anything anything right and who am I I'm an immigrant that came from the Soviet Union to this country built a brand of myself and therefore I can Market a Fitness franchise supplements coaching business men's personal development program software company apparel company once you become a brand people buy the brand and whatever the brand endorses [Music] tell us where we are so we're here at Fit Body Boot Camp World Headquarters when we bought the building it was just for Fit Body Boot Camp and now there's six other companies that we run out of here everything out of this building yes sir all right let's get in here question for you in terms of professional networking right as a new entrepreneur I would imagine it's kind of tough to get into the right networking groups to then build those relationships it is where can I start I think one of the best places a new entrepreneur can start is to start going to Live Events right no one says you have to hire a hundred thousand dollar business coach who's going to make you connections and Productions and open doors that certainly does happen but what if you go to a live event where some of the best speakers that you look up to are there speaking they're great entrepreneurs you hang out you meet them you connect with them maybe shake hands you tell them your idea you put a name to if they get them to put a name to a face so many people are hiding behind their iPhones and it's like dude if you can go to a live event that cost you two three hundred bucks my friend Dan Fleischman has like seven Live Events a year for free for entrepreneurs they're trying elevator nights you could go there and connect with these people because then we hang out afterwards and you know we want to pay it forward we were there once right and uh so if you're willing to do that travel go to a live event you can Network for free but then you gotta understand how to network you can't just Fanboy out and keep pitching people because then your reputation spreads is watch out for that guy like just be cool big no no build a relationship first and then they'll ask you what do you do and you'll go hey my name is Paul this is what I do all right well I'd love to see your office and kind of what's going on tonight sure what do you need space yeah so come this way this side of the building is a true lean supplements building and Jeff and his team that are planning our Black Friday sales the whole team sits here from traffic to fulfillment to all that they run all that here how many people do you have working here for truly we've got a team of five okay a team of five we do fulfillment out of a different Warehouse Joan sits back here with close to my office because I always need her I'm very dependent upon Joan and back in here this is my office wow it's beautiful yeah thank you if an entrepreneur is struggling with something can't figure out exactly what it is what are some steps to take to figure out identify that issue correct it make sure that it sticks and doesn't come back again well if I understand correctly an entrepreneur is going to suffer from one of two things they're either suffering from some kind of limiting belief that they're experiencing an upper limit right so imagine this now I'm like all right I can build a million dollar company I could build a 10 million dollar company as I started to reach 100 million dollars there was all these voices in my head the negative self-talk the inner critics started saying are you sure is it possible you're just a foreigner you dropped out of college you have never really gotten an MBA what do you know about 100 million dollar company and we start hitting this upper limit that we all have every person has an upper limit and so if a person's struggling and they're finding themselves unable to break through it might be an upper limit or a belief system that they have to break through a good therapist or a Peak Performance coach could help them with that if they're struggling on the business side meaning they have no upper limits they are ready to go like I want a 100 million dollar company and I deserve it and it's for me then you probably have sixes and sevens working for you instead of eights nines and tens and so you have to look into your team and go all right who's this six or a seven that's limiting me from getting to a hundred million dollars interesting and just putting them through the gwc filter this is from uh traction Gino Wickman does the person get the role G do they want it do they have the capacity to perform it gwc and it's either yes or no there's no maybe so maybe badrus gets to roll he wants to roll does he have the capacity to perform the role for a million 100 million dollar company no he doesn't fire him that makes sense I was just thinking about like you know quick to fire slow to higher right you implement the same thing yeah Fire fast okay higher so amazing advice you guys check out our podcast as well if you're looking for more strategies from other very successful people we talked to many different Industries check it out it's upflip.com forward slash podcast go what about Sops if I'm starting out as an entrepreneur what systems should I put in place from the beginning to set myself up for Success growth Etc I think the greatest standard operating procedures are do you have the ability to drive leads convert them into sales satisfy their Desire with your product or service make them Evangelical so that they stay pay and refer like those four things are necessary marketing conversion meet their expectations so that they will stay pay and refer like that's how you build a business those Sops are mandatory now above and beyond that there's probably dozens that we can come up with right like customer Supports yeah but those are the foundational Sops that we need so many people spend time on what their brand is going to be I didn't have a logo until nine years and today no and it wasn't even me asking for a logo one of my graphic designers was like hey I had some free time at lunch and I drew this I was like well that's cool up until then it was just can I Market can I convert the traffic into sales can I meet their expectations with my product or service and then can I get them to stay pay and refer what is the number one mistake that you made early on as an entrepreneur that you can think of what did you learn how did you get out of that setback yeah so the number one mistake I made was not hiring a coach or a mentor which is funny because I've always been a big fan of Athletics and you look at any kind of sports whether it's powerlifting or basketball or football there's always a coach involved right yet I never connected the dots that if I just treated myself as an entrepreneur like an athlete there's probably mentors that have already achieved the success that I want have figured out a better path and they could help me time collapse results because of that I lost probably hundreds of thousands of dollars in my first five to six years as an entrepreneur trying to figure things out on my own but coaches and mentors can be quite expensive and I see it as an investment but for somebody that's starting out what is your advice in terms of yeah maybe you can't afford a five thousand dollar a month coach yeah are there other options for us to start coaching at some level and then grow there are so back in my day before social media existed right on 48 so this is pretty social media cassette tapes and DVDs of entrepreneurs Tony Robbins Brian Tracy Tom Hopkins Zig Ziglar Dan Kennedy Jay Abraham and these are all people who were really good at being entrepreneurs and you could buy their book or their audio cassette for 20 30 bucks that's true and go through it today you've got social media and podcasts YouTube videos where people are freely pulling out putting out information right like I did The Empire podcast that I created for four years 209 episodes It's like a PhD in being an entrepreneur that's all free coaching and mentorship and so there are free or next to free stuff you can do where you're investing time obviously you're listening or reading and then at some point you'll make enough money where you could hire that Mentor or coach such as yourself yeah and then really time collapse because they're going to go don't do this do that instead that's a whisper avoid it that's a shout focus on it here's the other question that follows though I don't have any money Pedro's I don't have any money I want to pursue that I'm stuck so therefore I'm going to be an employee status that that would have flown say in the 90s even early 2000s but now you've got GoFundMe so again social media is so powerful that there's other whack jobs just like you who are like man I thought of that idea but since he thought of it I'm going to help fund him so if you create a GoFundMe one there's a way to do it there number two if it's a service based business you literally don't need the money because you could create free content on social media to build an audience right right then you go to Wordpress that's free and you link PayPal to it and you have a sales page that you can accept money from you got your iPhone so pretty easy you don't need a videographer you got your iPhone create your content and then tell people to click the link in your bio go to the website and pay for your service so you can start up on a shoestring budget today because of the low barrier to entry website is free WordPress Payment Processing PayPal is free you've got social media platforms that'll put the audience in front of you as long as you make awesome how-to videos right and then you've got friends and family if you've got friends and family who believe in you that believe in your vision that you've got some kind of track record that you follow through on everything else in life maybe they'll throw a few grand your way that'll be seed money and startup money it's almost like people use that as an excuse not to pursue what they maybe think they want to but ultimately oh I don't have money there for or yeah it's scary being an entrepreneur man you know this is easy huh it's literally jumping out of the airplane and then building the parachute on your way down that's beautiful that's a good analogy have you done that many times God knows I have yeah can you tell us about this wall it looks pretty incredible look at myself help self-development like Fiend I get so inspired by successful people and so a lot of my friends who own big companies or they're celebrities or pro wrestlers or you name it when they come through and they work out with me here I'll have them sign the wall and put some inspirational quote up there usually just to benefit me is how it started right because I'll come here in the mornings and work out and I'll just kind of read the wall whatever get inspired but that's just a real fun inspirational wall any any highlights out of what's written here that you really like my son wrote One never stop Andrew and I think like if you just boil it down to one thing it's just never stop whatever your vision is never stop there's going to be obstacles setbacks potholes pandemics illnesses and deaths politics and politics and tax and regulations just never stop let's switch gears to like the tools that you're using to run your business if you're not using the right tools you're literally operating blind it's almost like saying that I'm going to come visit you in Bellingham and I'm just going to take the five and go north but I don't have your address right and so if I don't have your address I might end up somewhere in the general area north of Seattle but I'm not going to end up at your house and so you don't want to do that in business because that costs you a lot of time and money and energy and lost market share so we use everything from like I said Shopify platforms click funnels WordPress all the way to stripe accounts PayPal all the way to high rows for tracking leads and active campaign and Mar posts for you know tax delivery and and smart email marketing and email Automation and all of those things help us keep our finger on the pulse I mean we're seeing what people's movements are on our websites like on a true lean and fitbodybootcamp.com when people hit the website we want to know how much they're scrolling what they're looking at most which button they clicked what can we do to increase conversions what can we do increase time on page what can we do to get them deeper in the pages right because we know the deeper that you go and read and watch videos the more likely you are to end up purchasing the product or service and so all those things are different platforms and softwares that we have to use to be able to have our finger on the pulse and make the next decision and then from there when you talk about then running ads and campaigns that's we have our own in-house Ad Agency where we have three full-time media guys making videos pictures shorts long documentaries putting it out there running traffic to it on YouTube Instagram Facebook and Google it's like we're figuring out how to do things and if we want to sell more supplements we figured out well it's cold and flu season put our Wellness shot on Amazon sell it on Amazon get them to buy back from your website for at a discount by including a discount code in the supplement bag itself right like hey for your next purchase instead of buying from Amazon go to truling.com and buy from there right so most people don't look at Amazon as a search engine but I look at Amazon as a search engine well if I have my wellness shots sold on Amazon Amazon is going to run ads on it on Google you can buy it from Amazon I'll share the profit with Amazon once right but you can gain that customer the second third fourth twentieth time in terms of trade skills that all entrepreneurs share what would you think two three things that come up that all entrepreneurs share across the board well I think the most successful entrepreneurs have to know how to Market how to sell and how to lead those are skills that are required sell lead market sell lead if you could because no one's going to do it on their own right so you have to be able to lead a team you have to be able to drive traffic you have to convert that traffic into money through sales and then the traits that you need are focused consistency and discipline so many great entrepreneurs know how to market sell and Lead but they don't have the traits that they need over long periods of times like consistency to stick with it like the focus to not come let the idea fairy distract them and come up with another idea and another idea another idea getting some half-baked ideas none ever finished and then of course you have discipline motivation is going to get you out of bed every now and again discipline will get you out of bed every single time no matter how you feel well why don't we take a quick tour of your facility here because I know you've got a pretty sick looking ride there you know it's got nothing to do with the interview I want to take a look at it but I saw a bunch of axes take us in that room and walk us through let's go take a look this was supposed to be the garage for my cars you could imagine all this stuff right here would not be here and we would have lifts you've seen those lifts where you can put a car on top and then slide another car under but when we started running the project which is what you see all these axes on the wall the project is a 75 hour men's personal development program 75 hours straight my lead instructors are a Navy SEAL and a marine they bring the hurt onto these 30 men who like real true hurt yeah yeah men give up men give up I do this crazy so the first we've run up to this point 15 classes now over the last three years and for class one I asked Ray I said hey what all do we need for the compound we call this the compound for the project and he goes oh yeah we're going to need ice baths and you can see the troughs over there and we're going to need these walls that we can put up and create a shoot house so we can teach these guys how to shoot move communicate with the pistol so we teach them fun stuff as well right we're not just beating them down physically and hiking and Ice bathing and pulling trucks the whole time but he goes we're going to need a bell and I said Ray why do we need a belt he goes well in the SEAL Teams when you're going through budge training if you want to quit there's a bell I go Ray these are a dozen guys who have paid ten thousand dollars a piece to be here for 75 hours with us they're not quitting they're not quitting he goes I'll make him quit and sure enough class one down there you could see we had two quitters out of 12 guys and so every class we make these axes on one side it says project on there on the other side it's their class number this last class we had 34 guys come so we had 34 axes unfortunately only 21 graduated wow so serious dropouts the axes that we uh you see hanging there are the ones that quit and dropped out sometime during the 75 hours interestingly enough every single guy that quits doesn't quit because the evolution got hard whether they're crawling through the pit in the back or they're pulling a truck they quit here first and then they use the evolution as an excuse all right you guys Blitz time with the man of the hour uh Paul Smith is wondering thank you for submitting questions wondering what sales funnels do you use and what platforms are you using uh the platforms I use are click funnels WordPress Shopify in terms of funnels and then marketing platforms YouTube Instagram Facebook and then Google SEO and paid ads no Tick Tock yeah no Tick Tock okay soon to come I have a tick tock account but we're not actually using it for a sales funnel we're just nurturing an audience there got it Alfonso Sandoval is wondering how to be an investor or sole business owner in multiple businesses like what would you be are best advice to be able to run all of them your way and efficiently I do that now and so I will not invest in a business or start a new business unless I have a leader already picked out right so my supplement company for example I had the idea of truling supplements for about three years but until I found the leader who I can build a team around I wasn't about to start it because that means I have to go back in the trenches and I could no longer be the Visionary toservo is asking how to start a business with little money the way you start a business with little money is you put a lot of sweat and time in which is you're creating a Content like five to ten times a day put out how-to content on all the social media platforms create a WordPress site that's free attach a PayPal button that's free and then ask for money for the solutions to the problems that people have all right the hustle and grind life is asking how do you know when to walk away not letting a business venture become a personal Conquest there's several different walkaways there's walk away because you're selling the business which I'm a big fan of I've liquidated businesses before and we're actually in the process of liquidating two of my businesses now and then there there's the walk away of this thing is killing me it's eating me up alive it's ruining my marriage in which case if you value your life in your marriage let it go you can always start a new business it's not worth it it's not worth it you plan to run for governor I do when he needs a governor California does need a governor I mean I'm still disciplined like yourself touche I do not plan on running for governor but I do plan on supporting those that could be good candidates for Governor in the future well said what does it say something about the person that is struggling with self-discipline is it something I'm born with is it something I can train in and get better at what have you learned it's a treat I mean I do believe nature nurture plays a factor right some people are born very hype a dialed in OCD great guess what factory installed gift congratulations you're more disciplined than the average person the rest of us have to build the discipline muscle it's a trait that can be developed and most of us do have to develop it now once again do you want to develop it or would you rather go be an employee and that's okay too gotcha yeah I was listening to your videos earlier today and you were talking about confidence and stacking up the little wins yeah yeah when you stack those W's you begin to get more confident because of Competency each time you do something and you win at it and you're successful even if it's I'm not going to hit the snooze button right right you don't hit the snooze button then you drink your 30 ounces of water like you said you were gonna you're stacking little W's throughout the morning it seems like miniature Little Steps that's a cup of water or a glass of water bro when people ask me it was there one tip for building a multi-million dollar business I'm like I don't have one tip or strategy get tiny little wins throughout the day it's beautiful show up here do this interview go to HQ do more of the interview you guys leave do my podcast come back again tonight train with my son stop stack my wins before you know it days become weeks weeks become months months become years and then someone's like holy crap that dude's made it let's talk about the biggest challenge for you personally right now in my shoes where I am today the biggest challenge for me is finding more leaders I don't have a shortage of business ideas or business opportunities that come to me right I have a shortage of quality leaders that I can put at the helm of these business opportunities that I might invest in so I have to turn away a lot of opportunities right now because there just aren't enough leaders out there who can run a team that I could go hey here's the vision go run It Go execute and here's the money to do what you need to do so that's the biggest struggle that I have what does that take us though with employees and building the right team sort of the follow-up question right that's pretty tough that's a great question and so then that takes you to a place where maybe this recession that we're going into and this depression that's going to come of it is a good thing because the labor force is going to get thinned out you're going to have more people in the market because we're seeing what Tesla put 10 of their employees out of jobs Twitter Amazon exactly meta and so you're seeing all these new employees on in the market space who can become great leaders and now we just have to find them and so it is important to build a brand and so how do I attract good leaders right now by demonstrating that I have awesome companies they're growing we're really hard on ourselves we don't take it easy around here it's a high speed train we always joke about the fact the high-speed train looks beautiful from the outside when it's zipping by when you're in that your teeth and kidneys are rattling out of your body right but if you like that kind of craziness welcome to HQ what makes a business in general terms scalable a business is scalable based on the people you have and the processes so if it's one of those things let's say you do high level coaching right well you can only trade so much time for money now if you can scale Yourself by having other coaches under you that you've certified in the Paul method let's say now it becomes scalable through all those other coaches under you but people alone aren't enough they need processes as well so that every coach can deliver the same result and outcome that's why McDonald's Starbucks is so successful and scalable whatever McDonald's or Starbucks you go into you're going to get the same same thing right and so people in processes create scale let's elaborate on that the coaching program right the mentorship at which point in time when you're experiencing in your entrepreneurship did you decide to take that route and make it a business right what experience skills does someone need to take that next level so for me specifically it wasn't a conscious decision that I'm going to coach and Mentor other entrepreneurs in fact what usually happens is when you're good at something you start standing out people hear about you and know about you and people started to approach me and say Hey you scaled those gyms those businesses teach me how and I realized well I don't know how much to charge you so I said what do you want to pay the first person pay like 10 grand for like 90 days it's not bad and I realized there is no overhead on this there is no real big expense this is big profits so today I charge a hundred thousand dollars for 12 months of coaching it's called the domination your coaching program it's very deliberately designed to repel new entrepreneurs and work with entrepreneurs that are doing half a million dollars a year or more in business and the reason I repel those that are doing under half a million dollars a year is because through my podcasts on YouTube and Spotify and iTunes you can pretty much get a PhD in entrepreneurship for free through my content so I always say use my content for free to build a business that does at least half a million a year then if you really want to scale the profits the revenues your leadership your meaning and your fulfillment then work with me at a very high level to add more zeros aside from financing what must I do as an entrepreneur in terms of planning before I launch the venue I know you know we can talk about it for days probably yeah but what can we highlight once you've got your financing and you've got your idea the plan only looks good on paper right so you're going to have a loose plan of who's the market then I'm going to be selling this product for what problem does it solve and for whom how much do I want to charge and how am I going to Market it and then you go out to Market and if you're going to have to hire people then hire the best people that you can for the least amount of money or if you can't and if you can't then you're going to be working around the clock doing as much work as you can or you're going to recruit friends and family to work for you in exchange for some kind of Equity you might say hey I'm going to give you two three percent equity in my business so if you believe in it you'll work for free in exchange for the back end profits that's going to come years from now right but really the plan only looks good on paper so imagine in 2019 if someone was starting a a franchise and they were like writing down what the franchise was and it's going to be a hamburger franchise and it's going to be for these really expensive Burgers like 25 a piece for each burger and blah blah blah custom-made grass-fed beef Etc not knowing that March of 2020 there's going to be a pandemic that shuts down all restaurants that plan that was perfect on paper becomes very malleable if you want to succeed in reality so you're saying we should just start somewhere don't over plan imperfect action leads the way imperfect action leads the way I love it versus inaction versus inaction so many people just plan and plan and plan over plan again as a way of avoiding jumping out of that plane when you jump out of that plane there's a high level of urgency the Splat Factor that's true then to build to figure out how to turn your shirt and your pants into a parachute very quickly right that's right yeah how long ago since you officially became an entrepreneur how many years ago oh my gosh 19 years 19 years how has it changed now in terms of becoming an entrepreneur is it easier is it harder how would you reflect back 19 years ago then versus now then it was harder because you only had one or two ways of going to Market people hearing about your product or service today it's easier but it's more complex meaning if you're like man I love making Tick Tock videos go bananas on Tick Tock demonstrating your product and service and how it solves a problem and you will do well but Tick Tock is going to demand a lot of content from you uh and then now you're gonna go well if I want to grow my business bigger I got to do that same thing on Instagram I got to do that same thing on Facebook I now look at that YouTube just launched shorts and so I got to do it there and they launch stories so you have more variety here so it gets complex it's easier now to get to Market but a lot more moving Parts back then I didn't need video guys let alone I don't even need one video guy let alone three it was simple man you write a direct mail piece you send it out in the mail and then people will call in and buy a product or they'll go to a website you know before email marketing was even a thing but how cool is that that it's the barrier is lower but the complexity is higher and that is what I love about marketing today entrepreneurship today there's a high level of complexity it's become a chess game now right like the competition could pop off on a viral video and just Crush you but you're just one good viral video away from Gaining market share again are you using any platforms to recruit people or is it mainly your YouTube exposure now your relationships your mentions YouTube Instagram you got a big enough following where you can I can just put out a story and find a good mid-level even high level team member a leader I'll have to go recruit like if I'm looking for a leader I'll have to go recruit by going on LinkedIn here's a little strategy go on LinkedIn you look for a similar company that you just acquired or you're about to start like let's say you're talking about employee theft quote unquote is that what it's called it's called recruiting right it's called recruiting so imagine this a few years ago we needed a compliance officer so I went on LinkedIn and I looked for you know anyone that had franchise compliance officer in their profile and we found several and one of them worked for a pizza franchise and we reached out to her and we said hey do you want to uh do you want to work for a pizza franchise or do you want to work for a fitness brand that's growing evolving and gives you bigger and better opportunities and we ended up winning her and recruiting her over that's awesome right now obviously if she didn't have any intentions to leave she would have said no thank you but you have to recruit in times when there is just no quality leadership available right or you have to develop from within which takes a while right yes he's not going to be the person on the street without a job right you're going to recruit right what do you see this 10 years from now just curious with where things are headed technology-wise dude what's your vision I'm just curious to get inside your head I really see that the future is who has my customers we need to start thinking that way in other words when you look at YouTube yeah there's a lot of people that have big a lot of subscribers but there's like a handful that have the mega subscribers right right whether it's Mr Beast or shout out to you Mr Beast right Mr Beast probably has a lot of your customers my customers someone else's customers and so I want to know who has my customers on all the different platforms the big Mega followings and how can I make it a win-win relationship to network with them connect with them because if Mr Beast gives a shout out for your product you're moving the needle do I want one Mr Beast or 20 micro beasts I think in the future we're going to have a lot more big Mega beasts like that are we talking about a software that allows you to know that or no just in general you're making human connection got it I think Andy for Priscilla said this a long time ago he said success is found in inefficiencies and I believe that to be true it is so inefficient for me to sit here today for hours with you guys right when you look at efficiencies I can be making a lot more money moving a money needle but I think it's also important because I like to make human connections I am wired that way you might know someone that could benefit me I might know someone that you might want to put on your show and therefore you're like man Pedro's just made our life easier so you're always gonna maybe I owe one debate Russian down the line you meet someone you're like hey beters who's a coaching company like those connections are important it is inefficient but we have to do the inefficient stuff people always want the algorithm to carry my video or what software can I use to to scrape email addresses well how about you have such an awesome freaking thing that people want to spend time on the platform and give you their contact info instead of scraping emails I get it it's inefficient but they're parting ways with their time that they have only a finite amount of and their money which these days people have a finite amount of money as well like come on let's give them some time and connection I love that success is found in inefficiencies how do you define entrepreneur to me an entrepreneur is someone who's a innovator a risk taker and is willing to figure it out because in any industry you can innovate you can do something better I can create a better exercise ball a better dumbbell then you're an entrepreneur and if you're willing to take the risk put your neck on the line financially in time right and then you have to be willing to Market like put yourself out there and be willing to deal yeah be willing to deal with the rejection otherwise they say build a better mousetrap and they will come that's a lie build a better mousetrap Market the out of it and they will come that's true I've really been blessed by getting to know you likewise asking a ton of questions learning from you and I sure am convinced that our audience feel the same way any last words of anything from the bottom of your heart whether it's regarding entrepreneurship personal development what's what's the peak for you at this point in time yeah well I think the Peak for me in my life is just to raise two amazing kids with my wife who will have a greater impact on this planet than I ever did like I got my head out of my butt when I was in my late 20s and really found my stride in my mid-30s I'm 48 now my kids they we intentionally poured into them and started their evolution so early that they are just going to multiply 10x the impact that that me and my wife could ever have on this planet so that's my Peak but if there was any takeaway for the audience for anyone it's it's we're all born with the story maybe that story is a byproduct that we got like I was molested as a kid by two older boys and that left for me with shame rage and confusion I was a foreigner to this country very much like you were and didn't speak the language didn't understand the culture and I was bullied and picked up and picked on and beat up by gangs because of where we lived but my story was that I'm broken that I'm not lovable that I'm not smart that people don't want to make friends with me and if you believe that story story long enough you will start sabotaging every opportunity whether it's business whether it's a relationship whether it's a friendship or the most important relationship relationship you have with yourself I would eat away my emotions you know I was always fat and out of shape because I don't love myself why would I do that and so I share that with you because when you realize that you can take the pen back and start rewriting your story there's so many blank pages left that you can decide how the story ends and Pedros 1.0 is very different
than the 2.0 and the 3.0 that I'm becoming and I will continue to write the story regardless of what people say like I'm clumsy I'm stupid I'm this people from my past might still point back to my shortcomings but I have the pen now they don't and I'm rewriting that story and everyone else can take their own pen back and keep writing you're just moving me emotionally because it resonates with me a lot there you go appreciate it better thank you well that's a wrap with vitro's coolian what an incredible inspiring entrepreneur and I hope episode for you guys where you can take away a lot thank you so much for watching please take a second to like subscribe and hit that Bell so that you don't miss any of our videos we've got some more incredible interviews coming up just for you thank you foreign [Music]
2022-12-19 01:27
