Podcasts about Sam Walton

Mattman's youngest grandson Teddy Matt is a year old today, so are you gonna have a party for him? Does a 1 year old remember their first birthday anyway? What's up with the history of Sam Walton? How do we not know that story yet?

Why hasn't there been a documentary on Sam Walton? That's the story we need to hear Mail Sack, send your questions, comments, complaints, etc.. to theriseguys@aol.com

A full Monday version of TRG featuring the Mail Sack, Paige being her normal dirty self, and why has there never been a documentary on Sam Walton?...

What if the very success of your company is what eventually destroys it? Eric Ries, the mind behind the Lean Startup movement, is back with a warning every founder, leader, and employee needs to hear. In his new book Incorruptible: Why Good Companies Go Bad and How Great Companies Stay Great, Eric tackles the question he admits he failed to answer the first time around: once you build something worth protecting, how do you actually protect it? In this conversation with host Brandon Laws, Eric unpacks the invisible force he calls "financial gravity," the systemic pull that quietly bends companies away from their mission. You'll hear the jaw-dropping story of Saul Price (the man Sam Walton credited as the father of modern retail), the real reason Costco still sells a hot dog and soda for $1.50, and why protecting your company's values is always "too early," until suddenly it's too late. If you care about building a business that means something, this episode is essential listening. Key Timestamps [00:00:00] — Welcome & episode intro; overview of Eric Ries and Incorruptible [00:01:30] — Why Eric wrote this book: the personal pain of watching great companies get hollowed out — and what The Lean Startup missed [00:04:00] — Ordinary failure vs. unusual failure: why success itself is often the cause of collapse [00:05:30] — The legend of Saul Price: the father of modern retail, his "fiduciary duty to the customer" philosophy, and what happened when investors changed the locks on his office [00:11:00] — The ultimate A/B test: Fed Mart's destruction vs. the rise of Costco — and what it proves about ethos + governance [00:14:30] — Redefining corruption: it's not just illegal behavior — it's any act that destroys the moral logic of business [00:17:30] — Organizations as superorganisms: why founders can wake up and not recognize the company they built [00:21:30] — Financial gravity explained: the force that pulls every company toward mediocrity (and how to fight it) [00:25:00] — Why protecting your mission is always "too early" until it's too late — and what happens to founders who wait [00:29:30] — The $1.50 hot dog: Costco's legendary promise to customers, why Jim Senegal said "figure it out" — and what that cost them [00:35:00] — Mission statement vs. actual mission: how companies like CloudFlare engineer their values into their business model [00:40:30] — Transmitting the mission: Costco's food safety program, civic infrastructure, and what it means to truly stand for something [00:43:30] — Where to find Eric Ries and how to get Incorruptible A QUICK GLIMPSE INTO OUR PODCAST Podcast: Transform Your Workplace, sponsored by Xenium HR Host: Brandon Laws In Brandon's own words: "The Transform Your Workplace podcast is your go-to source for the latest workplace trends, big ideas, and time-tested methods straight from the mouths of industry experts and respected thought-leaders." About Xenium HR Xenium HR is on a mission to transform workplaces by providing expert outsourced HR and payroll services for small and medium-sized businesses. With a people-first approach, Xenium helps organizations create thriving work environments where employees feel valued and supported. From navigating compliance to enhancing workplace culture, Xenium offers tailored solutions that empower growth and simplify HR. Whether managing employee relations, payroll processing, or implementing impactful training programs, Xenium is the trusted partner businesses rely on to elevate their workplace experience. Discover how Xenium can transform your workplace: Learn more Connect with Brandon Laws LinkedIn | Instagram | About Connect with Xenium HR Website | LinkedIn | Facebook | Twitter | Instagram | YouTube

https://hub.controlandcompound.com/business-masterclass-webinar-replay   What made Sam Walton one of the wealthiest entrepreneurs in history?   In this financial autopsy episode of Control and Compound, Darren and Christina break down how Sam Walton built Walmart from a small-town retail operation into a global empire worth hundreds of billions.   From scaling systems and reinvesting profits to using real estate, equity, trusts, and life insurance strategically, this episode dives into the exact principles Walton used to build AND protect generational wealth.   Topics include: Building scalable business systems Why Walmart targeted small towns first Equity compounding strategies Real estate ownership & control Access to capital during downturns Family trusts & estate planning How the Walton family preserved wealth across generations Corporate uses of cash value life insurance   If you're an entrepreneur, investor, or business owner looking to build long-term wealth, this episode is packed with lessons you can apply today.   Show notes: 00:00 - Introduction 01:51 - Sam Walton's Big Business Idea 03:50 - Starting Small But Thinking Big 05:04 - Why Walmart Focused on Small Towns 06:21 - Building Systems & Scaling Efficiently 07:17 - Reinvesting Profits Back Into Growth 08:18 - Using Equity to Build Massive Wealth 09:03 - What Entrepreneurs Can Learn From Sam Walton 11:18 - Investing in Business & Scaling Properly 12:22 - Real Estate Control & Owning Store Locations 14:01 - Access to Capital During Downturns 15:20 - Borrowing Against Assets vs Selling Them 16:02 - How the Walton Family Kept Their Wealth 18:17 - Life Insurance & Estate Liquidity 20:50 - Walmart's Controversial Insurance Strategy 24:08 - Final Lessons From Sam Walton   FIND US ON:   INSTAGRAM: https://www.instagram.com/controlandcompound    TIKTOK: https://www.tiktok.com/@controlandcompound?lang=en   LINKEDIN: https://www.linkedin.com/company/darren-mitchell-associates-inc/?viewAsMember=true BOOK A CALL WITH US NOW: https://www.controlandcompound.com/contact-us

SummaryLosing sight of a shared vision can derail even the most promising teams, a theme Jim Robinson tackles head-on in the podcast Visionary Leader with Jim Robinson episode. Jim explores the subtle and not so subtle ways organizations drift from their core mission as they grow. He underscores that while expansion is exciting, it often brings misalignment, especially if growth outpaces processes and systems. Without clear communication and regular alignment, team members can lose direction and motivation.A critical insight from Jim is the necessity of constant, purposeful communication. He stresses that vision is not a one-and-done announcement, but something leaders need to repeat so often they feel like a "Chief Repeating Officer." Ignoring this responsibility leads to confusion and a decline in morale, with employees metaphorically—and sometimes literally—calling in sick due to lack of clarity and engagement.The episode draws on real-world examples, from the shift in Walmart's culture after Sam Walton's passing, to Jack Welch's turnaround at GE. These cases highlight how easily vision can drift without vigilant leadership and regular, transparent dialogue. Jim points to middle management as the essential bridge for executing vision day-to-day, emphasizing that clarity in roles, processes, and individual purpose is paramount.Action steps are clear: leaders should have frequent, purposeful check-ins with their teams, ensuring everyone not only understands the mission but can articulate it confidently. By embedding vision into daily culture and systems, organizations can remain healthy, aligned, and ready to flourish, even through growing pains.Show Notes(00:00) Why Teams Lose Alignment as They Grow(05:52) Strategies for Refocusing Teams(09:15) The Importance of Clear Communication(14:34) Reconnecting Team Members to Purpose(18:32) Targeting Business Growth by Seasons(22:19) Challenges with Implementing New Platforms(23:01) Technology's Impact on ScalingLinksJim Robinson CGP Maintenance and Construction Services

Today, we are breaking down PriceSmart, the membership warehouse club operating across Central America, the Caribbean, and South America. I came away from this episode with a new appreciation for how a single retail concept and a single family have shaped the way much of the world shops. When you learn that Sol Price invented the modern club store, influenced Sam Walton, the founders of Home Depot, and the founders of Target, that his Price Club merged with Costco in 1993, and that his grandson now runs a separate company replicating the model across 12 emerging market countries, you start to see PriceSmart not as a mid cap retailer but as the third generation continuation of one of the most important ideas in modern American retail. I am joined by Markus Hansen, portfolio manager at Vontobel Asset Management. We start with Sol Price's founding of Fed Mart in the 1950s and the lineage that runs through Price Club, the Costco merger, and the 1993 spinoff that became today's company. We cover how 40% of operating earnings are locked in upfront each year through membership payments, why the company chooses to own its real estate and run its own logistics, and what happened to its stores when hurricanes hit Jamaica last season. For the full show notes, transcript, and links to the best content to learn more, check out the episode page⁠⁠⁠⁠⁠⁠⁠ here.⁠⁠⁠⁠⁠⁠⁠ ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- This episode is brought to you by⁠⁠⁠⁠ ⁠Portrait Analytics⁠⁠⁠⁠⁠ - your centralized resource for AI-powered idea generation, thesis monitoring, and personalized report building. Built by buy-side investors, for investment professionals. We work in the background, helping surface stock ideas and thesis signposts to help you monetize every insight. In short, we help you understand the story behind the stock chart, and get to "go, or no-go" 10x faster than before. Sign-up for a free trial today at ⁠⁠⁠⁠⁠portraitresearch.com⁠⁠⁠⁠⁠ ----- Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://thepodcastconsultant.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠). Timestamps (00:00:00) Welcome to Business Breakdowns (00:02:34) Intro  (00:04:37) What is PriceSmart?  (00:07:48) The Sol Price Origin Story  (00:13:26) How It Compares to Costco and Sam's Club  (00:18:24) Geographic Expansion  (00:25:38) Logistics and Supply Chain  (00:28:09) Expanding Across Latin America  (00:32:47) Earnings Volatility Across Markets  (00:36:00) Margins and FX Exposure  (00:38:42) Capital Allocation  (00:45:30) Key Risks  (00:49:04) Valuation  (00:53:13) Lessons

Darren Hardy reveals a counterintuitive trait shared by history's most dominant builders. It's uncomfortable, often expensive, and most people spend their lives trying to avoid it. Yet those who embrace it seem to separate themselves from everyone else. The pattern is undeniable once you see it. Get more personal mentoring from Darren each day. Go to DarrenDaily at http://darrendaily.com/join to learn more.

In this episode of Gangland Wire, retired Kansas City Police Intelligence detective Gary Jenkins sits down with former drug trafficker Carlos Perez for a direct, unfiltered discussion about the evolution of the drug trade in America. Carlos has a new book out titled Pedro Pan: The Product of a Revolution Gone Bad The conversation opens with recent controversy surrounding the reported death of  the Jalisco New Generation Cartel leader El Mencho, and what that development signals for the balance of power among modern Mexican cartels. From there, Gary and Carlos trace the arc of the drug trade from the Caribbean smuggling routes of the 1970s and 1980s to the dominance of today's cartel-controlled corridors. Carlos reflects on the era of Ronald Reagan and the early “War on Drugs,” describing a time when enforcement was uneven and smugglers routinely exploited weak regulatory environments in places like the Bahamas. He explains how traffickers adapted faster than policymakers, using maritime routes, small aircraft, and coordinated pickup operations to move multi-ton quantities of narcotics. Gary and Carlos contrast those earlier days with modern interdiction efforts—advanced Coast Guard surveillance, satellite tracking, military-grade radar, and cross-border intelligence sharing. What was once opportunistic smuggling has evolved into highly structured cartel logistics supported by corrupt officials and narco-state dynamics. Carlos provides a candid account of his own rise in the trade. Starting as a construction laborer, he moved into pickup crews retrieving floating bales of drugs in open water. Over time, he became involved in larger-scale operations involving aircraft and organized distribution networks. He details the operational mechanics, the risks, and the constant calculation between profit and prison—or worse. The discussion also explores the blurred lines between political authority and cartel influence. Carlos explains how governments in certain regions became intertwined with trafficking operations, illustrating how power, money, and violence intersect across borders. In the second half of the episode, Carlos shifts to a personal reckoning. He discusses the moral compromises required in the drug trade and the toll it takes on family and identity. Ultimately, he chose to step away, prioritizing stability and long-term survival over fast money. Now living a legitimate life, Carlos has documented his journey in his book Pedro Pan: The Product of a Revolution Gone Bad, offering readers a firsthand account of smuggling culture, Cuban heritage, revolution-era influences, and the psychological weight of that world. His story reflects both personal accountability and a broader commentary on the human side of organized crime. This episode blends law enforcement perspective with insider testimony, giving listeners a rare dual lens: the cop who chased traffickers and the man who once outran them. Hit me up on Venmo for a cup of coffee or a shot and a beer @ganglandwire Click here to “buy me a cup of coffee” Subscribe to the website for weekly notifications about updates and other Mob information. To go to the store or make a donation or rent Ballot Theft: Burglary, Murder, Coverup, click here To rent ‘Brothers against Brothers’ or ‘Gangland Wire,’ the documentaries click here.  To purchase one of my books, click here. Transcript [0:00] Hey, all you wiretappers, Gary Jenkins, retired Kansas City Police Intelligence [0:03] Unit detective. It’s great to be back here in the studio. It’s a cold day in Kansas City, Missouri, but we’re going to talk to a warm state and with a man that lives in that warm state, Carlos Perez. Welcome, Carlos. How are you doing, Gary? Doing good? Yeah, I’m doing good. A little cold, and I know it’s much warmer down there. We talked about that. Carlos was involved in the drug business, which is quite topical right now, especially today. Now, this won’t come out today, but as of over the weekend, the Mexican government arrested the El Mencho, the head of that, I can’t remember the name of that cartel. It was a Western Mexico, the state of Jalisco cartel. And somehow he got killed on the way to Mexico City as they’re transporting him. And his guys, the cartel members, are going crazy. Carlos, let’s talk about that a little bit, about this new war on drugs. When I was in Ronnie Reagan’s war on drugs, it was different than it is now. Now we have this new war on drugs with blowing drug boats out of the water. And this guy dies on the way to the bigger jail. Well, let’s talk about that a little bit. Carlos, how would you, as a former drug trafficker, how do you react to that? [1:18] The laws change. And the more that the smugglers change, the more that the system to catch them changes also. In fact, when you’re talking about Ronald Reagan’s war on drugs, there was quite a few things that allowed the smugglers to succeed. One was, most of it, and I’m talking Caribbean now, most of it was going through the Bahamas. The Bahamas had laws at that time where anything governmental was not allowed to land nor dock a boat anywhere in the Bahamas without the permission of the Bahamian government. Which, by the time they got to wherever, if they reacted, if they were advised of some drugs coming in, it would take them a long time to react. I think they had two boats for all the islands that had to travel back and forth. You never, you couldn’t, they couldn’t, the DEA, the Coast Guard, they couldn’t catch you. [2:12] And when you fly a plane in, you just land anywhere and say hello to the DEA as they’re flying by because they can’t land. And therefore, you score the load that you have. Nowadays, Jesus God Almighty, now you’ve got the Coast Guard out there. You’ve got the Coast Guard citation constantly flying, plus Navy. But you couldn’t get it done. And back in those days, that’s the way it was done. It was the Bahamas played a huge part. The prime minister of the Bahamas was so heavily, even though he never. [2:42] Did any time or anything he was heavily involved he took payoffs to left left and right the whole the situation is completely different now you got AWACS flying overhead that can hear you when you’re in the bathroom anybody here’s my opinion on that I want to know who in the hell was in charge of sending those boats out of Venezuela that after the first one got blown up who was telling them to keep sending boats over now if maduro this is my theory if maduro was smart he would have stopped that if he was really the one in charge he would have gone god you got to make me look better you can’t keep doing it that tells me he was not in charge of the shit okay so there’s someone behind that kept going send them we got to see if we can score keep the score, i don’t know how he kept doing that that was to me that was such a stupid move especially when you You see that you’ve got half of America’s Navy sitting on your doorstep, and you keep trying to send drugs. What are you, nuts? The Pacific, they should have gone over to the Pacific, where there’s less surveillance, and maybe run it up the Pacific coast by land. [3:53] Okay. Try to get it into Mexico by land. Because back in the day, Mexico was not really involved at all in that. It was the Caribbean. And then when the Colombian cartel, which was Medellin cartel, when they stopped losing so many loads, they started to go to Mexico. And through Mexico, they just flew small planes, landed in the woods somewhere in Mexico, and then they moved it up. That was not – you weren’t doing that in the Caribbean by that time. And talking about Reagan’s war on drugs, I had two – this is the sideline. I had two little boats coming in from the Bahamas that had marijuana on them. [4:35] I still got to laugh at this freaking idiot. One of them, they were coming in from – Bimney’s only 47 miles away. You can almost do it on the fumes of a gas tank. This guy forgot to gas up. Coming over, he gets stopped by the Marine Patrol, right? As they’re searching him, the other boat had gone through but was wondering where his partner was, and he goes back to see where the guy is. [5:01] How’s that for – anyway, they get them both. It was a total of about 1,200 pounds. That had come from Jamaica, that’s about –, And the vice president, who was Bush, was at the Coast Guard dock when they were unloading the boats. And I was sitting there watching, going, damn, they look like my boats. And when I investigated, it was a—but that was one little incident that had happened. But the difference between yesterday, yesteryear, and now is chronologically things change. They trump the other everybody that was a president or that that had something to do with stopping the trade with drugs never really stuck their foot in deep to stop it it makes me feel like yeah you’re not really you’re talking a lot but you’re not really doing much because if i was a cop my god i usually i’d have had all kinds of medals from stopping these people because it’s an easy thing but no one really had the interest who was involved economically up the top god and only In the Bahamas, I knew who it was. It was the prime minister. Knew his people real well. In the States, everything changes every couple of years. And you don’t know what they’re thinking, what their process of thought is to try to stop this. You know what it was? None. They didn’t try. Okay, they did not try. [6:22] There used to be, oh God, probably about two or three DC-3s a night landing in Bimini, 47 miles away. Okay? Each one of them had 10,000 pounds on it. The boats were running up the river, the Miami River. Once you get inside on a river, inside land, you pretty much already scored. That changed. Then it went to freighters, fast boats going out, picking up, coming in. Then when the United States stopped that, when they declared, we’re going to be able to stop any boat anywhere in international waters. You couldn’t do it back then. [7:02] When that ended then you began with the airplanes the airplanes would take it this is still back when you when the US or any governmental agency could not, set foot in the Bahamian territory, Bahamian waters, without the prime minister’s knowledge. The prime minister’s involved. You’re not going to get it. It’s not going to happen. So that change, and it went to small airplanes. Fly it in anywhere you want in the Bahamas, and then get your boats, and from there on in, try to see what you’re thinking, your process of thought is going to be to get it from the Bahamas, some of the shorter points to the States and to Miami at that point. One of them for me was easy. And that was because I had information on the Miami tower and where in the hell everything was at any point in time. So I would sit and wait for my messenger to get back to me, to tell me where the smoker was, which was the big Coast Guard boat and where the citation was. Once I knew that, I knew I could come across. And the only thing I was going to run into was fishermen. [8:10] So things changed. And then they allowed things change after that. And obviously they were allowed to go into the Bahamas and do whatever they wanted. But that was when Pinland was finally out. I don’t know who the prime minister became after that, but it changed. And now it became, this is why I think that the cartels were stupid. They, instead of doing as much as you could without getting noticed, they started bringing in loads of 10,000 and 20,000 kilos. I was like, God, what the hell do they get all that? I know where they get it, but since I know how the situation goes, I want to know how they amass it and get it onto one boat or one container or whatever and not have it noticed. That’s just way too much to not notice at one point or another. People get edgy around shit like that. In other words, I could take two people and put them in front of a container and separate them and tell one of them, that’s full of drugs, and then tell the other one, no, that’s full of furniture. And then stand both of them there and see who gets nervous. [9:16] It’s human nature. It’s human nature. If you know something bad is going on, to feel it and to react. Why they did that, I don’t know. I was one of the ones, if not the only one, that was sent to Mexico to teach them how to put airstrips in the middle of the jungle, how to protect them, what to do with them, where to put potholes with certain rocks, get them out when they play in the stomach, put them back in when he’s done so if anyone else tries to land, they’re gone. But how it got so deep, I’ll never understand that. And I was pretty much in the beginning of smuggling as to notice chronologically how everything’s seen because I stayed for quite a while. Yeah. Now, Carlos, you’ve written a book about this. What’s the name of that book? The book is called Heisting the Beard. I just need the beard. The beard with a D, meaning Fidel Castro. Ah, interesting. Yeah, he’s just in Cubans when they go like this to their chin or they mention him and they mention him as the beard. He was heavily involved in the decision-making of Cuba running drones. [10:27] That book is about, oh, I ran into a guy. This is how this happens, which is really fun. I ran into a guy who I used to call him by the name of Banco. And he came and told me that he knew where there was a big load of drugs, jewels that they had pilfered from the ocean where they knew that shipwrecks have gone down. Because no one can dive around Cuba. And Cuba is a country that held all the gold before it went to Spain. Everything stopped there and went on. So he told me he knew where there was a warehouse that was holding that plus a lot of coke. And I had ways to get in. I have a friend who’s Bahamian, who was actually one of my partners, who’s from Ragged Island in the Bahamas. Ragged Island is maybe… [11:17] 20 miles off the Cuban coast, down on the eastern end of Cuba. So it was easy for me to sneak in. Everyone thinks of Cuba as this military power, Russia’s buddy. They didn’t have shit. They couldn’t put a plane in the air. They didn’t have patrol boats. They had patrol boats, but I swear I could out-swim them. It was ridiculous to see at what point they were developed as far as a country. And it was like, everything is going downhill as today, and it keeps going downhill. So I would sneak in on a Zodiac. [11:53] And I’d hit the coast, middle of the night. No one would see me. I speak perfect Spanish. I speak a Cuban dialect. So I wasn’t going to get caught by it because I looked like a black bean in a pot of white rice. It wasn’t going to be like that. So we figured out where everything was, and we went in and took a little look. And got awake after a lot of headaches, but we were able to do that. There’s other instances where there’s an airport right next to Havana called the Varadero Airport, and it’s a military airport. And I know that they were holding a lot of cocaine that was going in there. The reason I know that is because hearsay in the streets in Miami, you go drink a little Cuban coffee somewhere, you hear assholes talking garbage, and they would say that they were getting boats ready to go to Cuba to bring in whatever they had. So it’s not really why they make it a mystery as to why they were involved. If you think logically, let’s say you leave Colombia and you’re doing business with Cuba. Wouldn’t it be safe to just, oh, you’re chasing me, let me land in Cuba and I got no problem, not because they don’t want you here, but they want me here. That’s logically speaking. So why that… [13:11] That mystery among people that they weren’t involved. What are you, crazy? Not only that, recently, you might have seen it, they’ve had a Carlos Leder Riva. Okay. [13:27] Carlos, can you say that over again? It just zeroed out to say that over again. After you said Carlos Leder. Leder Rivas. Yeah. Now, whatever you said after that, say that over again. [13:45] Carlos Lerder Rivas recently has done some interviews on the drug trade. He did a lot of time in the States over the Norman’s Key transporting point where all the coke would go there. And then, like I told you before, they fly it into the Bahamas and then over into the States. He recently has been on saying how he was personally involved with Raul Castro. I have no doubt about that. I knew him personally. i flew a couple times into that island where it was transported out so i know what he was told the reason i also know that is everybody has this pablo escobar myth in their head he was neither the boss and he was neither the money man the money people were the ochoas the military his might and his force did not come from him and his mouth that he could do this and that it comes from rodriguez gacha who had a 2 000 man private army and he was one of the members of the cartel and they never tell you who started it all and it was carlos letter rivas he was the one that started the cartel he’s the one that wanted to be on in the colombian parliament and was looking for votes escobar is he was a he was a late comer into all that stuff the only reason they put him out there that I can understand is because they just wanted to figure out that they could knock the hell out of later on. [15:09] Okay? Because when he started fighting against Los Pepes, which was that organization that got together to try to kill Pablo, Pablo reversed it on those guys. He got rid of almost all of them, but it wasn’t him. It was Rodriguez. [15:24] Rodriguez gotcha. He’s the one. And he was involved in the Emerald business before he got into the coke business. He was the guy, let me tell you what, when Pablo was around, and I only saw that once, when Pablo was around Gacha, okay, this was down in La Guajira, in the high desert in Colombia. When he was around Gacha, you could tell that he was subordinate. He was scared. He was like, damn, if I mess up with this guy, he’ll take my head off. [15:53] So people really have the whole story, Pablo, Pablo, my, you know what, Pablo, my ass. There’s a lot of people who you had to have money to do those things yeah and in those days they were strong enough because of the ochoas well they could gather big loads a thousand two thousand keys and put it all together but as time went on chronologically that shit changed okay i can remember once getting a load where it had it damn you they labeled it they labeled everyone One had one name, one had the other So what they were doing at that time Was it got so tough on them Because of Pablo’s big mouth And because of his, I’m going to take over Blowing up a plane Doing a few other attacking parliament All those things You couldn’t put those loads together To me there’s no cartels anymore To me they’re government Narco systems You. [16:55] The Mexican government is definitely involved with the cartels. And as you saw, we went after a cartel in Venezuela, but the head of the cartel was the Venezuelan government. So what they are is narco states now. And you know how hard it is to attack or to deal with a narco state? Now you’re dealing with a government entity that has a lot of power. It’s a completely different ballgame. And Venezuela themselves, including Cuba, had a diplomatic immunity flying into different countries with the drugs. And they could put a load of cocaine on and fly into Spain, and they had no problem with it. And they were doing those kind of things, I would say, recently, like within the last 10 or 15 years. Maybe even since Maduro has been there, which is about 20 years, that they’ve been doing that. Really, the United States can get information on anything they want. They had this information but couldn’t do anything about it. [17:57] So chronologically, everything changes. Back in the beginning, let me tell you, the first time I made a little money was hauling some marijuana with old Touch Brown from the Everglades. And I worked like a Hebrew slave for four days in the swamp hauling bails from marijuana and into the into the everglades and then over into miami and it was completely different game and you know what they didn’t cheat me for one penny they didn’t cheat me for one penny and how much came in 40 tons on one of the boats yeah it was 80 000 pounds on a freighter and we worked like little like slaves and they paid me like two weeks later, they paid me $2. I’ll tell you that story in a minute. You asked me a while ago how I got started. Should I answer that, or you got another question you want for me? No, go ahead. How’d you get started in that? You started out as a grunt, as we say in the military. You started out as a low-end worker, a guy that transports bales. What did you do? You started saving your money up, and you knew where the connections were, and finally you You bought your own load and just kept getting bigger and bigger. [19:11] In a sense, yeah, it wasn’t drastic. When I came in, here’s the story. I’m in Texas. My mom calls me up and tells me I have an uncle who’s in Texas. He wants to see me. I get together with him, and he’s driving a brand-new Cadillac. This is a guy who, two and two to him is 22. I know he’s my uncle, but he’s a dumb son of a bitch. [19:35] He’s telling me that he’s got a, you know what a roach coach is? Yeah. with those construction things with food. He tells me he has a red smoke in Miami and that he bought a house, got a house, he’s doing really good. And I looked at him and I said, bro, you’re the one that’s crushed. You’re the wetback. I came on a plane a long time ago. He’s telling me stories. What’s going on here? So anyway, he tells me and I say to him, get me a job. I was working as a carpenter in Houston. Straight out of college, I’m banging nails. I said, God damn, I’m banging nails. but I got an education here. What’s going on? So anyway, I loaded up in Houston. I head and I end up in Coconut Grove working for one of the bosses. My job was $500 a week and I had to go and sleep on his yacht about 7 p.m. And by 6 in the morning when the workers started coming in, just go. That went on for about four or five months and I finally said, let me make some real money because I saw he was still moving and doing things economically economically moving forward, and I was sleeping on a boat. So he finally gets me an interview with two of the bosses. And this is a building in Miami that was called the DuPont Plaza building. [20:52] And so we go to the meeting, and I’m talking to the two guys. One of them, they called him El Coronel, and the other one, El Colorado. The Colonel and Red. They were the ones that were handling it. And this was, by the way, this was marijuana, coming from Colombia at that time. So we go in there, and he tells me, no problem. I’ll pay you $2 a pound. Now, understand that at that time, at that point in time, my mind is in Jersey and New York. And if you’re moving 20 pounds from one place to the other, it’s a lot. You’re not dealing with loads at that time. We’re talking, what, 1977 in New York? And I looked at him, I said, you’re fucking crazy. You think I’m going to risk my ass for $2 a pound? Even if it’s 300 pounds, that’s $600. Are you fucking nuts? [21:45] My uncle grabbed me by the shirt, stood me up and said, excuse me. Walked me outside and said, listen, there’s 40 tons coming in. You want the job or not? I went back in. I apologized to you guys. I said, no problem. I will go to work. From that point on, there wasn’t, that’s just, was right about at the end of the big freighters. And so now my uncle invites me to go to Bimini because he had a friend there and they were going to do some job. I don’t know. When we go, I end up running into a younger guy, Bahamian, and I became partners with him. We call him Dreamer. And I said, look, if you can set things up over here and gather up whatever materials you can gather up, I’ll come and get it and we’ll be partners. At that time, a lot of freighters and a lot of boats were being chased by the Coast Guard and what they would do is they would drop, they would dump it overboard. Oh yeah. Ergo the, what they call it, the square grouper. [22:44] Yeah, I’ve heard that before. Bales were floating everywhere. You could go out. So what he would do is he would go on a boat, find bales that were floating. He would call me up, and he would tell me, hey, I salvaged a 300-horsepower engine. Come and get it. I knew what the weight was, so I knew what kind of boat I had to take. So I bought an 18-foot formula. I dug out the hole in the bottom. I made a secret hole. What the what cubans call a clavo a clavo which is you’re hiding it underboard he called me up one day tells me there’s three he can get 300 pounds i left at eight in the morning was back in miami by 11 30 left at about 12 30 went back and picked up another load so in that first job we ended up making a couple hundred thousand dollars from there we bought a bigger boat, Now he started patrolling, All the area where the boats were coming in Because everything flows from the Gulf Down in this area, flows north The Gulf Stream goes north So everything’s going to float this way somehow. [23:54] We did that for probably a year Until one time, I was over there. We were going fishing, and we ran into a duffel bag. The duffel bag had 65 kilos in it that was just floating. At that time, it cost probably around $40,000 a kilo in Miami, let alone New York. We didn’t bother to take it up north. Sold it all in Miami. I used to say to myself, where in the hell does all this cash come from? Because they would pay. We made a lot of money that time. And then we had seen… Carlos, let me interject here. No, no. [24:38] You were making hundreds of thousands of dollars just by picking up cocaine and marijuana that had been thrown off other boats. So you didn’t even have to go buy it, really. You guys were just picking it up, the square groupers, and then putting it together and then bringing it to money. That’s crazy. You are an entrepreneur. You’re a guy that sees an opportunity and seizes it. Tell you what. And that’s exactly how it went, Gary. When we made that big chunk of money, we had seen how things were going because we knew that planes were coming in and landing. And they had whatever it is that they were hauling, either coke or marijuana. So with that amount of money, we bought a plane and I decided to become a pilot. I said, hell, we’re going to cut this down. I’ll fly. We’ll save money that way. And now we can talk to the people down in Jamaica or Columbia and say, hey, we’re coming together. We’re taking a responsibility. We’re not going to middle it. We’re not going to find it. We’re going to do the job. And it took off from there. [25:43] Took off real good from there. Eventually, I see that you are going to build in to have a legitimate life, become a horse breeder and a ranch owner and rub elbows with all the kind of the muckety mucks, if you will, down there in Florida. So tell us about that transition and how did your life change during that time? [26:04] I had a family. I had four kids by then. And I knew that I was in a business where the chances were threefold. I either score or I die or I go to jail. And I didn’t like any of those odds at that time. I was like, you know what? I’ve made enough money. I got a small little ranch out here. I don’t need to do anything. And I decided that was it. I don’t need to be doing this anymore. I’m set. And I’m the kind of person, I’m set with what I mathematically calculate. I’m not like I need almost $20 million. I calculated it to where I knew I could be comfortable. And talking about the mucks and the big famous guys, I had lunch with Sam Walton one time. How did you do that? [26:59] I was at his, his daughter, Nancy Walton, Laurie was heavily into the horse. And by that time I was into horses also. So we used to, I used to show them all over the country and we were in, in Illinois at a horse show. And the setup that his daughter used to put out there was unbelievable. It was like, whew, she really put out a spread. And he happened to be there one time. And it wasn’t like I went and had lunch with him, but a few people sat around, ate a couple of grilled burgers. And that’s my story of Sam Wolfe, the richest man in the world at that time. And look who he’s having lunch with. how really i’ve noticed going to horse races that a lot of the support staff are all hispanic i think because hispanic people know how to deal with horses have an affinity affinity for horses, you’re absolutely right the barn work even me and who as far as the horses went i was a nobody i just had my own little stretch even my workers were mexican they just are good at it they’re very good at that. Interesting. They understand country life, too. Yeah. [28:10] So, what happened? You’re like, you’re going straight. You haven’t really done any time. Surely DEA, I know enough about them that they keep files, and they may not do anything about you now, but they know a lot about you, and they don’t forget. So, what happened here? You can’t feed the government. It’s an entity, not an individual. You know, one guy prosecutes you and he retires. That doesn’t mean your case is over. He hands it over to somebody else and it goes on and on. They didn’t get, I didn’t get caught doing anything. I had too many ways to outmaneuver them and not because I was smarter than anybody else. It’s because I had contact. I had a contact, like I told you, at the Miami Tower where I would call him and say, hey, I need to know where this was. He would call me back and let me know exactly when I could cross. [29:06] So it was a matter of, in my case, I didn’t play Russian roulette. I tried to put things on more of the positive end of it on my side but i’m so they arrested me for money because they thought i had too much first the irs came in and they started checking out the next thing i know is i’m being visited by by the fbi but it was alphabet soup when they showed up at their hotel yeah not the farm i was like what the hell are these guys doing here anyway they grabbed me took me in and i’ll give you a funny story and you used to be a policeman yes all They pick me up, and I say to the guy, the old James Cagney state, I’ll be home before you tonight. Yeah, I’ll be home. You’ll be still writing your report when I’m back home. You’ll still be filling out the paperwork, but I’ll be sitting at home. [29:58] So I played that act. And actually, I did get home pretty quick. I was able to call my lawyer. He actually called up the mayor of Fort Myers. His name was Wilbur Smith. And he was a lawyer also. And Wilbur is the one that got me. It happened to have been on a Friday, which meant if they didn’t work something out, I was going to sit my ass in the jail until Monday. When the judge comes up. But Wilbur got me out of it. Wait a minute. Wait till the dogs get, okay. Can you start that with Wilbur? Wilbur got me out of that when the dogs quit. Let’s see. [30:38] Anyway, Wilbur gets me out of it. I’m walking down the hall with Wilbur to go see the judge real quick. And he says to me, he goes, do you do drugs? Do you have any drugs on you? And I’m like, oh, Jesus. I don’t know. I smoke weed, but I don’t touch anything else. I never have. And he goes, so, okay, we’re okay with that. And in my pocket. I had a joint in my pocket. I pull it out and I go, here. Oh, Jesus Christ, put that back. Oh, Wilbur. Oh, Wilbur’s shit when he saw that. But anyway, I was home. I was home that night. Now, here’s another funny story. I had a, along with this story, I had a maid at the house at the farm. And she was Brazilian. And she was not a resident or anything. That girl took, when they came, went to pick me up. And they took me into, it was a U.S. Marshall. She took off running into the woods. and I’m talking deep Florida woods and when I got back home about an hour later she ends up showing up and I said what are you doing why did you take off like that I was scared they were going to deport me, if you were scared what do you think I was. [31:46] And when they showed up that one time when they showed up you could have sworn that they were picking up Pablo Escobar it was alphabet soup long guns long freaking guns not just People holding their little long guns. Yeah. And I’m like, all this for me? Really? And you know what it is? It’s not long before that happened. They had called me in to do a polygraph. [32:14] The FBI did. I had no problem because they were trying to associate me with the head of the Indian cartel in America, the guy that handled everything, including the money. You might have, did you see Cocaine Cowboys Kings of Miami? Yeah, I did. Okay. The one guy, George Valdez, that was pretty much testifying against the other guys that he said he helped. Like how can you you’re snitching right in front of everybody bro anyway he i had a farm next to his, and the next thing i know because i guess they tried to associate me with him i had nothing to do with him next thing i know the fbi is calling me out they do a polygraph even my lawyer said don’t do the polygraph it’s not mandatory said i got nothing to hide now they told me they were going to ask me about horses they ended up asking me everything except horses until i finally yeah took those things off my fingers i pulled them off and i said this is done and i left not long after that is when they swatted in i was like jesus god who do they think they’re picking up here i’m just a in in uh in sense i’m still even if they know everything i’m still a grunt, I’m working for you. It’s not like I’m Mr. Put-it-together shit. You call me up, hey, we got a job. You want it? Yes or no? But it was unbelievable. [33:41] I went to jail. I did some time in jail. When I got out, I never once again really, even though I got 100 phone calls about you want to go to work, you want to listen to that, I never really thought about it again. My kids were growing up. The youngest one was six or seven by then. And they had suffered because I was gone. Yeah. And I didn’t like that. That made me feel like shit. [34:10] It just, it got to the point where when I was working, I looked at everything economically. Hey, this is what I’ll be able to have. Once you have what you want, economics is bullshit if that’s what you’re working for, because you already have it. Yeah. And when I got out, my thoughts were completely different. My thoughts were that the money is not going to solve any issues I may have. Physically, maybe. Mentally, no. mentally, I’ve got to learn how to deal with a little bit of reality here and figure out who is affected by my actions. And the people that were affected by my actions were people that were close to me. And I didn’t enjoy that. I didn’t enjoy that at all. It made me double take. It made me go inside and do a lot of things. [35:04] So from that point on, I really didn’t know what to do. And so I have a friend who is a big-time producer in Hollywood. We grew up together in Jersey, who told me, wow, you’ve got a lot of stories. You should start writing. I never thought about writing. So I started putting down ideas. I wrote a book. I wrote a bunch of political essays on what was going on in Cuba. See, I grew up in a revolutionary family. My father was in intelligence, and my uncle trained the troops that were going to go to the Bay of Pigs, among other incursions into Cuba. So I came over, I’m six years old. I’m a Peter Pan kid. I don’t know if you know what that is. Now, what is that? You’ve mentioned that before. What is that? Tell the guys. Peter Pan is, it’s not a good translation because it has nothing to do with Peter Pan. In Spanish, it’s Pedro Pan and had to do with a little kid eating some bread or whatever. But in 1960, the Catholic Church got together and decided to send the children out of Cuba so they wouldn’t suffer the wraths of the revolution. In essence, 14,000 kids were put on planes and sent into the States. I was one of them. Wow. I ended up in Miami. [36:27] I was one of them, and I was actually one of the lucky ones because I had family in Miami at that time, so I was able to stay with them. My parents were still back in Cuba applying to leave. Back then, they called the freedom flights. So a lot of those kids though they were sent some of them were sent to alaska montana wyoming really they were dispersed all over through families that were willing to help and and keep them until their parents came so i was one of them that grew up because of my father and my uncle the conversation most of the time if not all the time was around cuba and his freedom so the revolution at that time is going really strong in New Jersey. There’s a family in New Jersey by the name, the last name is Cook. [37:17] And they owned a big factory called Cook, Color, and Chemical. They were very wealthy people, but evidently they lost a lot of land or investments in Cuba. So they were willing to help the revolution and the revolutionaries. They had a big farm in this small little town called Hope. And that little town, you had all the Cuban revolutionaries up there getting ready. I’m talking about going into the woods with every kind of equipment you could think of. And they were training to go to Cuba. Now, here I am, six, seven years old. And I’m running around the woods with these maniacs. They would dress me in camouflage and tell me I was the next generation of Cuban revolutionaries. And I’m like, what the fuck is this guy talking? I didn’t. I was having a good time with all these guys. [38:06] And it ended up being that the new york times caught wind that there were these crazy cubans. [38:12] In the woods in jersey and they had to move their operations down to florida but about what happened in jersey in jersey the mafia at that time they were all involved with the kennedy and the prior to the assassination and everything that was going on they thought that the cubans did it they thought to the mafia. They didn’t know who did it. But there was a get-together one time. I was probably about seven or eight years old, and it was a dove shoot where they had a thousand doves, and they would all line them up and let some of them go, and then they would do a big dove fricassee. But that meeting, I just remember the names because I was being introduced, the son of, and this is Mr. Spud. The names never left me. One of them was Santos Traficante, who was the head of the mafia in in in tampa the other one was fat tony salerno who was the head of the mafia in new york there was my mom’s cousin who was an fbi uh agent and a bunch of other guys that looked exactly like him they dressed exactly like him well i could pick you out of a barrel boy and a lot of these other i grew up in the jersey new york area so i know what tough guys act especially of the Italian guys. So there was a bunch of them walking around like they could take on the world. And this is part of my life. I’m a young person doing it. I really don’t know what’s going on, but I’m picking up on all this stuff. [39:40] They moved to Florida. I’m away from all that stuff for a while. But my parents regularly go to Florida for a visit, for vacation. So every year, I’m running into my uncle and the things that he’s doing, what’s going on. [39:57] And so the life never mentally never leaves me. I’m always, I’m always hearing next year in Havana, we’re going to get them, all this nonsense. So the years go on and on and the situation, you wonder how the smuggling game got started. The smuggling games basically, and I saw a report on this not long ago, some lady reporting on it. You had a lot of educated men that were involved in the revolution that wanted to get their country done. The U.S. government, Secret Service at the ICIA, whoever they may be, cut off the funds when all the bullshit with Cuba was done. You’re not allowed to leave from U.S. soil if we cut you with any arms headed down. And they caught a lot of these Cubans trying to go to Cuba on little boats with all kinds of armament. They didn’t do shit to them. Okay, they just slapped them on the head and don’t do that. But it got to the point where the government was not funding that part of the Cuban Revolution anymore. What do a bunch of college-educated, university-educated men do? [41:06] They’re going to go work at the Fountain Blue? My father worked at the Fountain Blue when he first got to Miami. And there was water fountains that said whites, blacks, and Cubans. He was still trying to drink. It’s like my mother used to tell me. I didn’t know I was white until I got to this country. And now all of a sudden we have white Spanish, white this, white this. It’s ridiculous. So these men were not going to go to work with a little bacon with a little Cuban coffee. They have all these contacts all through Central and South America because of the revolution. So who becomes the primary smugglers? [41:44] Yes, the Cuban revolutionaries. And that’s how smuggling was started in the Caribbean. I’m involved with all these people because of my father and my uncle. My legacy is I can get right in. I don’t have to prove anything to anybody. And that’s how I got to my uncle and him giving me the job with the guy. No, that nonsense. So it’s like the grateful dad said, what a long, strange trip it’s been. It’s been. [42:13] So where are you at now with your life? [42:17] Right now, we’re putting together hopefully a TV show on basically my life, but my life in a novel way, not in a very direct memoir way. And I continue to write. I am married to a wonderful woman who actually led me down this path. I was sitting on my farm doing quite well. My wife at that time had passed away from pancreatic cancer. That’s a death sentence. Yeah, I’ve heard that. [42:52] I didn’t have a will, and everything was in her name because I wanted to protect the family. Yeah. So when she dies, everything’s gone. I’m not knowing which way to turn here. I was 50, 70 years old. I thought I was going to be relaxing and fishing every day, and it didn’t work out that way. I was going downhill like a sled in a snowstorm, boy. I was going to hit eventually. I don’t know what bottom would have been, but I knew there wouldn’t be good. And I ran into a wonderful woman who led me down the road of, we’ve got to write, we’ve got to do this. And she is my manager, and we eventually got married. And sometimes things are tough, but they’re a whole lot better than getting that bottom. Yeah, really. Better than you’re out of jail. You’re not in jail. Not there anymore. What a long, strange trip it’s been for Carlos J.C. Perez. [43:57] I want to know how strange it gets to the point where the DEA comes to me to get information. And I’m like, you guys got to be kidding me. I always knew that when you’re in law enforcement, you depend on information. You go wherever you think the source is, that’s for sure. You think you can get something out of them. Exactly. They ended up being great, by the way. Great guys. Super nice guys. Okay? And if I said any different, I’d be lying. [44:28] But it doesn’t sound like you ever particularly worked for them. You didn’t go back in undercover for them either. No, no, I didn’t do that. Luckily, when I was doing the stuff that I was doing, it wasn’t out. It wasn’t a guns and roses type deal. I don’t ever remember collecting any money or doing anything where I had to have a gun on it. I’ll give you a little tidbit of something that just happened recently. I had to go into a government and reinstate my license or something like that. The lady’s going through it. She comes up with a ticket that I got in 19—now, I’m talking in the year 2000 and probably 14. She comes up with a ticket that I got in 82. It was a ticket. Yeah. The ticket was for $52. Two different tickets, 26 each. Okay. Yeah. You know what that ticket was for? I had come in from the Bahamas in the hull of the boat. I had 800 pounds. The Marine Patrol pulls me over and says, let me see what you got. They go through the whole thing. He finds two lobsters that I had in the live $26 per lobster. I got the ticket. The guy never checked the boat, never did anything. And I got in with 800 pounds, which at that time was like a quarter million bucks. [45:50] Oh my God. Life is funny, man. Life is funny. Life is funny. That’s for sure. All right. Carlos Perez. Now the name of the book and guys, I will, I will have a link in the show notes to it. Remind me of the name of the book, Carlos. Pedro Pan. Pedro Pan, as in Peter Pan. And Ron is bred in Spanish. So there’s something to think about the little magical character, Peter Pan. Not a thing. Not a thing. And it’s a product of a revolution gone bad, which basically is me. I’m an unfortunate product of that. Revolution. You’re back around now. You’re contributing to society. That’s the only thing that’s important in the end. Hey, I have a quick question. Did you ever hear of a book called The Corporation written by a guy named T.J. English? Oh, hell yeah. Read it from cover to cover. As a matter of fact, I know the guy. [46:46] What’s his name? Batista? Was it Jorge Batista? No, Battle. Battle, yeah. As a matter of fact, I know the guys that own the manuscript. Okay tj what’s his name what’s his last name tj english english the only thing he did was write the book off of the notes that they had gotten from a guy that i know his name is tony gonzalez tony gonzalez has another partner by the last name of freitas and what they did was they investigated battle over the years and years and and then somehow ran into english because he had written a couple of books on Cuba. And then T.J. English ended up writing that. And by the way, Battle took the New York mafia and put it on its knees. Yeah, I did a story on the book. And that’s true. He had to get permission. Actually, he had to get permission from back in the 60s from Fat Tony Salerno, and they couldn’t get an approval until Traficante stepped in and said, work with him. And what the hell were they doing then? They were killing each other. They were blowing up their little bolita houses and all that. Oh, that was crazy. But you know what? He was never any kind of a Cuban mafia boss. [48:05] He liked to fight chickens and play the numbers. The Cubans don’t really have a mafia per se. They’re too splintered. And in the mafia, you’ve got to go ask permission to do this and that. These crazy guys, they don’t ask anybody permission for anything. [48:19] Interesting that’s a that’s an interesting world that’s a whole different world that cuban, You’ve got the revolution on one side, the Castro revolution, and then you’ve got the anti-revolution against Castro that’s been going on all these years. And in the middle of it, you’ve got some of these people that were kicked out of Cuba that can’t get jobs and they only want you to work as a waiter or something. And so you go into business and the best business going with your connections is the drug business. And so it’s just a really interesting millage, if you will, or mix of people and situations down in the southwest part or southeast part of the United States. Oh, yeah, you’re right. It is a millage of like, how does this work? [49:04] There’s no sense to it sometimes. No, that’s for sure. I guess I’m glad they weren’t blowing boats out of the water. They might have got you back then. I can’t tell you what. They wouldn’t have dared because I would have said, I said, why don’t you do that? Oh, you get somebody else to do it. Yeah, probably what would have saved my ass anyway is that I have never, ever been money hungry. My family in Cuba, my great-grandfather was a sugar baron. And I’ve heard all the stories about all the money, but I’ve yet to see a penny. [49:36] I don’t work that way. I grew up with a bunch of humble people. And it wasn’t, damn sure, it wasn’t about money. And when I’m young, I’m not thinking like that. But now at my age, I go, wow, man, if I knew then, what do I know now? Yeah, really. All right, Carlos. Thanks a lot for coming on the show. I really appreciate it. No, no problem, Gary. Thanks for having me on. Okay.

Most leaders think complexity is a sign of sophistication. Jon McNeill, former president of Tesla and CEO of Lyft, thinks it's the number one reason businesses stall. Every hour spent on complexity, unnecessary processes, and misallocated resources is an hour taken away from what actually drives growth. We tend to overcomplicate and add more (more products, more people, more strategy) over what the business really needs. We dive deeper into this in the latest episode of Habits and Hustle with Jen Cohen. We also discuss why the most successful companies are built on radical simplicity, how to find where your real growth is hiding, and the repeatable framework Jon McNeill used to scale Tesla, Lyft, and six companies of his own. Jon McNeill is the author of The Algorithm and founder of DBX Ventures. As former president of Tesla and CEO of Lyft, Jon has spent his career walking into complex, high-stakes businesses and finding the one move that unlocks everything else.  His framework is not just for founders but also a life skill for anyone who wants to think clearer and move faster. What's Discussed: (14:03) The Tesla sales crisis nobody talks about & the simple fix that saved an entire quarter. (21:10) How Tesla went from 64 clicks to buy a car down to 10. (23:44) Why the best leaders are the greatest simplifiers. (31:40) Why the performance review is broken: The two questions that replace the whole thing. (34:23) The Sam Walton habit to easily spot what's broken in a business. (36:02) The culture that made Tesla unstoppable: humility and confidence. (46:38) How Lyft doubled by asking one question. (1:10:47) What's the iPod's two-sentence product definition that teaches you why most products fail. (1:12:42) Why the best product does not always win and what actually does. (1:17:46) The two habits behind every fast-scaling company. (1:07:43) Why AI is not the job killer everyone thinks it is. Thank you to our sponsors: Head to AirDoctorPro.com and use promo code HUSTLE to get UP TO $300 off today!AirDoctor comes with a 30-day money back guarantee, plus a 3-year warranty—an $84value, free! AX3: Visit www.AX3.life to get a 20% discount on your first order with promo code HUSTLE at checkout.Visit getkion.com/habits for 20% off Find more from Jen:  Website: https://jennifercohen.com Instagram: @therealjencohen Books: https://jennifercohen.com/books Speaking: https://jennifercohen.com/speaking-engagement Find more from Jon:  Website: https://www.dvx.ventures/fullbio/jon-mcneill Linkedin: https://www.linkedin.com/in/jonmcneill1/ Book: https://www.penguinrandomhouse.com/books/799958/the-algorithm-by-jon-mcneill/

¿Qué separa a los ganadores extremos del resto? En este análisis profundo desglosa los principios tácticos y psicológicos de las mentes más brillantes de la historia. Desde la regla de "Introspección Cero" de Sam Walton, exploramos por qué la autenticidad es tu mejor estrategia y cómo evitar que el éxito se convierta en tu mayor enemigo. Un guion esencial para emprendedores que buscan construir algo duradero en un mundo de distracciones.

Happy March, and welcome to this week's edition of the Flavors of Northwest Arkansas podcast – WE HAVE SOME STORIES for you today with Roger Gildehaus from Macadoodles in Pineville and Guess Who in Bentonville, but first?!?!?! FOOD NEWS!! Orthodox Farmhouse Brewery is for sale. We'll tell you why. Fossil Cove will be adding a second location in Fayetteville; so will Wicked Wood Fired Pizza. There are two new dessert spots coming to the Pinnacle Hills Promenade. The Fermentary opens their taproom soon! If you're a matcha or latte fan in Bentonville, your favorite new spot opens Saturday. We'll hear from the owner of the Caffeine Bar. A longtime Fayetteville spot will close its doors at the end of May. Few seats remain for the No Kid Hungry fundraising dinner at The Hive Saturday night. We're doing our first LIVE podcast this week! We'll tell you about it! BITE NWA has added 2 events this year, and one is around the corner. We'll tell you about it! We celebrate the anniversaries of three Fayetteville spots: Mockingbird Kitchen, Baked by Kori and the Feral Pig! We'll hear what the winner of the Natural State Beer Company's First Annual Chili Cookoff had in his chili! Roger Gildehaus started in retail right out of high school and at the age of 24, worked his way into becoming a Walmart store manager. Sam Walton hand-picked Roger to be the store manager of a prototype Walmart in Pine Bluff, and you'll hear the story of how that happened. Roger worked his way up to being a VP in the company, and that's when he started Macadoodles in Pineville, Missouri. He'll tell you what sparked him to open at the border- and it's not as obvious as you might think. Also, Roger tells the story about why Guess Who in Bentonville isn't named Macadoodles... So many stories in this episode... We talk to Roger Gildehaus of Macadoodles on this edition of the Flavors of Northwest Arkansas podcast.  

On Top of the World Radio — Homer, Alaskawww.ILoveHomerAlaska.comLive in ActualityHenry Ward Beecher said most people do their work three times: anticipation, actuality, and rumination. He said he only worked in actuality.Worry lives in the before and after. Rarely in the doing. When you are fully engaged in the present, there is no space for anxiety or regret.By Choice or By ChanceNapoleon Hill taught that you are the sum total of your habits. By chance, habits lead to drifting. By choice, they lead to purpose and achievement. Your life reflects what you do repeatedly.Stephen Covey said your future is built in Quadrant II — planning, building, and growth.Alaskan Mind Bender — Captain's CoffeeDaily coffee drinkers are less likely to develop which disease?A. Heart diseaseB. Type 2 diabetesC. ArthritisText 907-299-7653 to win from Captain's Coffee.Your Chief AimYour goal should stretch you, but remain believable. Every success is built slowly. Interest creates hope, hope creates energy, and energy creates action.Chris shares how his early interest in pottery became the foundation of his business life.Growth, Instinct, and PersistenceA growth mindset believes you can improve. Claude Bristol taught that insight comes in stillness. Honor your instincts.Sam Walton said it simply: We got after it and stayed after it.Don't compete on price. Create value. Operate on the creative plane.Closing Thought“The rung of a ladder was never meant to rest upon, but to enable a man to put his other foot higher.” — Thomas HuxleyChoose your habits. Live in the present. And get after it.Listen weekdays to On Top of the World Radio with Chris Story

Go to www.LearningLeader.com The Learning Leader Show with Ryan Hawk This is brought to you by Insight Global. If you need to hire one person, hire a team of people, or transform your business through Talent or Technical Services, Insight Global's team of 30,000 people around the world has the hustle and grit to deliver. www.InsightGlobal.com/LearningLeader My Guest: Jesse Cole is the owner of the Savannah Bananas. He went $1.8 million in debt, slept on an air mattress, and built a business that is now valued at over a billion dollars. I spent half a day with Jesse in Savannah watching practice, and Jesse gave me a personal tour of their entire operation. It was incredible. Notes: Fans First - The sign is on every locker. And leading out to the field, "Tonight is someone's first time seeing our show." Obsessed/Focused - Banana Ball/Serving people is his life. We didn't talk about hobbies, TV shows, or anything other than what they're doing now and in the future. He's obsessed with what he does and super focused. Transparent - Jesse just released their full P&L as a private company: revenue, expenses, player salaries, everything. Most businesses guard this religiously. He's completely transparent. I asked why, and he said, "Fans first. They deserve to know everything." Reps - We went to the field to watch practice. It looked just like a game. Players were dancing all the time. And every single rep they practiced as a trick play (behind the back, through the legs, etc.). They never play normal baseball. You wonder how they are so good on gameday at doing a backflip while catching a fly ball. Because they practice it thousands of times without fans so that when they're there, they put on a great show. Hiring – "Love your people more than you love your customer." 12,000 people on the waitlist to work for the Bananas. When you hire, have them do a "fans first" essay. Then they write a future essay.  Always Be Caring, Different, Enthusiastic, Fun, Growing, & Hungry Fans First: The Counter-Intuitive Decision - Jesse sacrificed $6 million in ticket revenue after a system messed things up for fans.  Merch – 787,000 fans purchased merchandise in 2025, totaling 1.96 million total items. That means the average person is purchasing ~2.5 items at checkout, with 80% of total sales taking place in person. 621,000 at live shows versus 166,000 online. It's a $50m business! TV: The Distribution Strategy - Giving Away Value - Jesse insisted on free YouTube streaming even when ESPN wanted exclusivity. Jesse is building a zero-profit secondary ticket market. He's literally giving away things other sports properties would monetize. So, even with all of the team's games still airing for free on YouTube, the Bananas averaged 500,000 viewers on ESPN, The CW, and Roku. The team's most-watched broadcast was a July 4th game at Fenway Park, which averaged 837,000 viewers on ESPN, making it the holiday weekend's most-watched primetime sports broadcast. TV networks want exclusivity, but you demand that the games still be broadcast for free on YouTube (in addition to whatever channel they are on) Social Media - The Bananas added 12.7 million new social media followers in 2025 alone. That pushes their total social media following across all channels north of 35 million... Roughly 2x more followers than MLB's most popular team, the Yankees, at 18 million. You have to believe something before you achieve something. Six years ago, Jesse said, "We're gonna sell out Fenway Park," and his team looked at him like he was crazy (they were a college summer baseball team, not even doing tours yet). You have to get through the messy to get to the great. Their first world tour was brutal: the sound was terrible, the show wasn't great, the game finished in the seventh inning because they didn't have a rule to make it go nine innings. See what's best for the guest, not what's best for the business. Walt Disney was the first to go into full-length animation, color, sound, and with Disneyland, he focused on one entrance to control the experience, custom rides, and invested in a castle and landscaping, which made no money. Go where others won't go. Sam Walton went to small towns, and no one paid attention to him for the first five to ten years. It's somebody's first time every night. Fans wait three years on a waitlist to come to a game, so Jesse doesn't care if you're having a bad day. That's their first time. Control the entire experience. Walt learned he couldn't control the experience when people watched his movies at a theater (it could be dirty, and people might not be nice), so he built Disneyland. Who do we work for? Fans. Jesse opened the books completely (numbers, player salary, merch sales, everything) because they have a responsibility and accountability to their fans. We have to feel our mistakes. When they sent a wrong email to 44,000 fans instead of 4,000, it cost them $6 million to take care of those fans with tickets (more than the company brought in their first five years). We need to have bigger failures. If we're not trying things big enough, we won't have bigger failures and mistakes that cost us a lot more in the future. Turn mistakes into moments. After the $6 million email mistake, Jesse set up a Zoom call with all 44,000 people, had everyone turn their cameras on, and apologized while looking at every single person. Build something you wish existed for yourself. Jesse played baseball until he couldn't anymore. He put so much pressure on himself that it wasn't fun anymore, and he was told he wasn't good enough. Design every second of the first-day experience. When players showed up, they went to a parking lot with a DJ at 8:30 AM. Three buses arrived with balloons, hundreds of people lined the streets cheering, Man-nanas served munchkins on silver platters, a custom hype video played, the host introduced from the roof, and fireworks went off. Every player has been told they're not good enough. All Bananas players have been drafted or been top college players, and at some point, they've all been rejected, cut, told to hang it up. Obsession is awesome. If you can find something you're obsessed with, so few people in the world get to have that. Watch the best of the best obsess over details. Derek Hough (one of the greatest dancers) wasn't just focusing on the dance; he was producing while dancing, telling the camera crew exactly where to come, when to hit him, and where he would wink. No one goes home excited about normal. No one says, "That restaurant was really normal, the waiter served it the same way, the food was pretty normal, the parking lot was normal." Whatever's normal, do the exact opposite. Normal gets normal results. There's a lot of normal in the world, but not a lot of extraordinary. Put yourself in the customer's shoes and eliminate friction. Where's the game tonight? On Amazon, Peacock, CBS, NBC? Jesse threw away millions to keep all games free on YouTube because that's a friction point. Your fans will reward you. The Bananas sold over 1.9 million merch items last year because they built something people are proud of and want to wear. If people don't want to wear your merch, you haven't made them feel something yet. One fan gets a new Bananas tattoo every year (he's got six logos on his leg now). Invest everything in the experience, spend zero on traditional marketing. Make the experience so good that fans will share with everyone that this is something they haven't experienced before. Social media growth came from trying and stumbling into learning. In 2016, an intern said he could create videos; they did a lip sync to "Can't Stop the Feeling" by Justin Timberlake. It wasn't even well-produced, but they tried. Give energy back because of how good it feels. A woman came up to Jesse on a cruise and said she was there because he gave her a hug at a Sacramento game the day after her sister died. She came on the cruise to give him a hug back. Do what gives you energy. Jesse's entire day is filled with things that give him energy: being with people, rehearsing shows, banana ball youth meetings, broadcast team, and talented writers. Have people who love to execute. You do what gives you energy and have them execute at a high level. Be very involved at the beginning (get the idea and vision right) and at the end (make adjustments).

2026.02.10 Sam Walton y WalmartSi no escuchas a tu cliente, alguien más lo escucharáEsta semana estamos hablando de cuatro grandes empresarios que comenzaron sus negocios después de los 40 años, y aprendiendo de los éxitos y fracasos de estos gigantes. Busca Cápsulas Gerenciales en tu plataforma de podcast favorita, y descubre como Sam walton creó Walmart, pero solo después de intentarlo varias veces. #cápsulasgerenciales #capsulasgerenciales #desarrollopersonalholistico #mejorcadadia #inspiracionyexito

This week on Second Act Stories, we're featuring a series called "Rewriting the Playbook." This group of episodes features guests whose journeys share a common connection to sports, sometimes front and center, sometimes quietly shaping the path forward. In these conversations, the influence of competition, teamwork, and discipline shows up in different ways, informing career pivots and personal reinvention. Together, these stories explore how the lessons learned on the field can echo long after the final whistle, guiding second acts that are anything but predictable. Fran Tarkenton is unquestionably one of the greatest quarterbacks ever to play the game of football. A true legend who rightfully earned his place in the NFL Hall of Fame, the College Football Hall of Fame (for his championship career with the University of Georgia Bulldogs), and on the list of the 50 Greatest Minnesota Vikings AND the 50 Greatest New York Giants. In his rookie season in 1961, Fran joined an expansion team called the Minnesota Vikings, and in the first-ever Vikings game he threw four touchdown passes and ran for a fifth, upsetting the great Chicago Bears. At the time of his retirement from the NFL in 1978, Fran owned every significant passing record: 3,686 pass completions, 47,003 passing yards, and 342 touchdowns. Legend. After retirement, Fran became a commentator alongside the one and only Howard Cosell in the Monday Night Football broadcast booth, he landed a job hosting That's Incredible, one of the biggest sensation TV shows of the 1980s, and he became an early entrant into the software business, a visionary move that launched what would become the longest-lasting and most lucrative part of his illustrious and multifaceted career. At 84.6 years old as of the date of this interview, Fran is as sharp – and as busy – as he's ever been. His company, Tarkenton, is as highly regarded as it is successful in helping other businesses grow and prosper. All the incredible lessons he learned growing up, on the gridiron, in entertainment, and in his many business ventures coalesce into his leadership of Tarkenton to this day. But Fran claims no responsibility for the success he's achieved. He attributes it all to the coaching he's received; in the NFL, from greats like Sid Luckman, Norm Van Brocklin and Bud Grant; and in business, from former IBM CEO John Akers to Walmart founder Sam Walton. In this episode, Fran shares colorful stories about his journey from the streets of Washington, DC; to Athens, Georgia, home of UGA; to the NFL; to entertainment; and ultimately to a wildly successful business career. You can learn more about Fran by Googling his name, and you can learn more about Tarkenton Companies by visiting www.tarkenton.com. ******* If you enjoy Second Act Stories, please leave us a review here. We may read your review on a future episode! Subscribe to the Second Act stories Substack. Check out the Second Act Stories YouTube channel. Follow Second Act Stories on social media: Facebook LinkedIn Instagram Second Act Stories theme music: "Between 1 and 3 am" by Echoes.

Dan MacDonald is the founder and CEO of BIS Safety Software, based in Edmonton, Canada. He didn't start in safety or software—he came from retail and leadership training before an unexpected pivot led him into online safety systems. That shift eventually became a long-term bet on a "un-sexy" problem that companies can't ignore.  Today, BIS Safety serves more than 2.5 million users across high-risk industries like construction, mining, transportation, and energy. The company generates roughly $25M CAD in annual revenue, employs about 200 people globally, and runs one of the stickiest SaaS platforms you'll find—with less than 1% annual logo churn. After nearly 20 years of bootstrapped growth, Dan is beginning a staged exit, starting with a minority secondary sale and planning a control transaction in a few years. Along the way, he shares hard-earned lessons about product obsession, compounding customer retention, and why steady execution beats hype. Key Takeaways Extreme Retention Matters — Less than 1% annual churn created compounding growth without aggressive sales spending. Product Over Sales — BIS focused on usability and depth first, letting word-of-mouth drive most early growth. Customer-Funded Start — Early customers paid to build the first LMS, avoiding dilution and premature fundraising. Long Bootstrap Reality — The first decade involved no salary, deep personal risk, and constant financial pressure. Enterprise Power, End User Simplicity — Power users get depth, while users see an interface designed to feel effortless. Quote from Dan MacDonald, Founder and CEO of BIS Safety Software "So at that time when I started the business, there was an awakening kind of moment of realization. It hit me big. I'm reading hundreds of business books and reading about Bill Hewlett, Dave Packard, Sam Walton, and many others. "I'm listening to the things they're saying, the ways they're thinking, And all I'm thinking is, my God, they think like me, they're just like me, they're normal people, they're just like me. And that was kind of the first awakening realization to say, they're not superhuman! That gave me the confidence to build the business and believe in the future. I never thought there's a pot of gold at the end of the rainbow it was never about the money. It was just some burning thing inside me that just I need to do this.I was just driven to do to do this. I felt like it was just this is what I'm meant to do." Links Dan MacDonald on LinkedIn BIS Safety Software on LinkedIn BIS Safety Software website Podcast Sponsor – Lighter Capital This podcast is sponsored by Lighter Capital. In the last 15 years, Lighter Capital has helped over 600 software and SaaS founders secure simple, non-dilutive financing to grow a little faster—without giving up any precious equity or board seats to investors.  Simple debt funding from Lighter Capital can range from $50K to $10 million, with straightforward terms, no personal guarantees or covenants, and up to a 4-year payback period. Go to LighterCapital.com to apply and get a quick pre-qualification. Then talk with their experienced team to create a practical funding plan to achieve your goals.  The Practical Founders Podcast Tune into the Practical Founders Podcast for weekly in-depth interviews with founders who have built valuable software companies without big funding. Subscribe to the Practical Founders Podcast using your favorite podcast app or view on our YouTube channel. Get the weekly Practical Founders newsletter and podcast updates at practicalfounders.com. Practical Founders CEO Peer Groups Be part of a committed and confidential group of practical founders creating valuable software companies without big VC funding.  A Practical Founders Peer Group is a committed and confidential group of founders/CEOs who want to help you succeed on your terms. Each Practical Founders Peer Group is personally curated and moderated by Greg Head.

Most people think goal setting is about writing down what you want. It's not. It's about creating gravitational pull so strong that your entire life reorganizes around what you're building. After 15 years of setting and hitting impossible goals — from building multiple businesses to launching a top podcast to selling a million books — I've cracked the code on why most people fail and the few who win do it differently. In this episode, I break down my exact five-step process for setting goals you'll actually follow through on in 2026. You'll learn the regret minimization framework from Jeff Bezos, why Elon Musk uses first principles and backwards timelines, how Warren Buffett's 5/25 rule forces ruthless focus, and why Sam Walton obsessed over daily numeric targets instead of quarterly objectives. I reveal why exploitation keeps you efficient but exploration creates breakthroughs, how to use goal gravity to pull everything towards your target, and why your year needs a name before it can have a plan. But this isn't theory — it's my actual goal journal from the last 15 years. I show you my relationship goals, work targets, travel plans, and even the silly stuff like feeling more feminine and cutting out bread (spoiler: didn't nail that one). You'll see my "more of/less of" list, why I track daily streaks, and how I turned 2024 into my "full send" year and 2025 into my "year of flow." If you're tired of setting the same goals every January and abandoning them by February, or if you want to finally build a life most people only dream about, this episode will change how you think about goal setting forever. It takes 21 days to create a habit, but 90 days to create a totally different lifestyle. Start your timer. This is day one. Protect what you own. Next makes it fast, simple, and painless. Check it out: https://www.nextinsurance.com/codie ___________ 00:00:00 Introduction 00:01:12 Goal Gravity: Why Small Goals Kill Your Future 00:02:13 Exploitation vs Exploration: The Fork in the Road 00:03:44 The Regret Minimization Framework from Bezos 00:04:40 Name Your Year: The Power of Framing 00:06:26 First Principles and Backwards Timelines: The Elon Musk Method 00:09:21 The Four Goal Categories: Relationship, Work, Travel, and Fun 00:11:37 The Say No List and Warren Buffett's 5/25 Rule 00:13:17 More Of, Less Of: The Anti-Goal Method 00:14:59 Daily Scoreboard: Sam Walton's Obsessively Measurable Goals 00:16:54 The Five Patterns of World-Class Goal Setters ___________ MORE FROM BIGDEAL

Video of this episode is here TakeawaysGilbert Harrison reflects on his 60th wedding anniversary and 85th birthday.He founded Financo after realizing the potential in investment banking.Retail fascinated Gilbert due to its growth potential and dynamics.Successful CEOs possess unique vision and entrepreneurial spirit.Investment banking requires understanding both numbers and people.E-commerce has drastically changed consumer shopping habits.The discount retail sector has evolved significantly over the years.Mergers and acquisitions often fail due to lack of understanding of motivations.Brand aggregators are reshaping the retail landscape but may lack entrepreneurial spirit.Gilbert emphasizes the importance of mentorship and giving back to the community. Chapters 00:00 The Genesis of Financo02:24 Navigating the Retail Landscape05:01 Investment Banking Insights07:27 The Evolution of Discount Retail09:45 The Impact of E-commerce12:10 The Art of Deal-Making14:35 Reflections on Leadership and People16:57 The Future of Retail and Investment Banking24:15 The Sad Fate of Stewart's Company26:23 The Changing Landscape of Investment Banking29:57 Confidentiality in Deal-Making33:44 The Future of Retail and Consumer Preferences35:35 The Rise of Brand Aggregators37:39 The Impact of Brand Aggregators on Competition39:57 Advice for Young Professionals42:43 Building Confidence and Resilience45:39 The Importance of Giving Back

When two employees of Handy Dan hardware store gave this idea to management, they got fired! So, they started Home Depot. Someone’s kicking themselves now! Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not so secret techniques that took famous businesses from mom-and-pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I’m Stephen’s sidekick and business partner, Dave Young. Before we get into today’s episode, a word from our sponsor, which is… well, it’s us. But we’re highlighting ads we’ve written and produced for our clients. So here’s one of those. [No Bull RV Ad] Dave Young: Welcome back to the Empire Builders Podcast. I’m Dave Young. That’s Steve Semple whispering in your other ear. And on today’s episode of the Empire Builders- Stephen Semple: [inaudible 00:01:44] your live stereo. Dave Young: We knew that it would only be a matter of time having so recently discussed the Lowe’s Empire that we would be discussing Home Depot, and today is that day. Stephen Semple: Today is that day because really, there’s a pretty shared DNA there. Dave Young: Sure. And again, I always think, “Well, okay, start as a little hardware store and then somebody grew into a big hardware store and then they made a bunch more.” Stephen Semple: It’s a little bit like that. Dave Young: A little bit? Stephen Semple: Except this is a little different. It’s a little bit different. Dave Young: Okay. I always like a good twist. Stephen Semple: There’s a little bit of a twist in this. So it was founded in February 6th, 1978, Marietta, Georgia by Bernard Marcus, Arthur Blank, Ron Brill, Pat Farrah, and Ken Langone. So these guys basically got it started. Dave Young: So it doesn’t go near as far back as Lowe’s. Stephen Semple: Yeah. Lowe’s is a little bit earlier, but not much. And today they have over 2,300 locations. They do 160 billion in revenue with over 450,000 employees. So it’s a big deal. And we all know who the Home Depot is, right? We’ve all pretty much heard of it. Now, a couple of the guys got basically fired from a hardware store in the West Coast called Handy Dan. Dave Young: Handy Dan. Okay. Stephen Semple: And it wasn’t really all that big and it was one-stop. But here’s why they got fired. They kept pestering management saying, “You need to go larger, then you need to go national.” And basically, management got tired of listening to that and fired them. So I told you there was a little twist. So when they left, they called one of Handy Dan’s investors, Ken Langone, and said, “Here’s what we want to do. We want to make 100,000 square foot hardware store, stock everything, make it cheaper, and make it more like a wholesaler. That’s what we want to do.” And they drew their inspiration from Walmart. They’re looking at what Walmart was doing. They said, “We want to do the Walmart thing for hardware and building.” And Ken was like, “Great, let’s do it.” And they drew up a plan that basically said they needed $25 million to get going, and they had to settle on raising three and a half million. So this is important to keep in mind because it shapes a couple of things that they do. And so the first thing that they needed to do… And they had a guy, Pat Farrah join them for merchandising. The first thing that they needed to do was create a name for the company. Now, I don’t know if you remember Crazy Eddie’s, the guy in New York City? Dave Young: Yeah. Stephen Semple: New York City. And he was selling electronics and all this other stuff. Dave Young: But he’s no Handy Dan. Stephen Semple: He’s no Handy Dan, but they were inspired by Crazy Eddie’s. And what I found interesting is in Toronto around the same time, there was a furniture company that started that also was inspired from it because it was Bad Boys. They would dress in the black and white retro, “I’m a prisoner” uniforms. And they’d be like, “Bad Boys. Does anybody have a better price? Nobody.” That was their slogan. But what these guys decided was they were going to call it Bad Bernie’s Buildall. Dave Young: Bad Bernie’s Buildall? Stephen Semple: Bad Bernie’s Buildall. Yes. The investors didn’t like it. That name did not go forth. Dave Young: Of course they didn’t like it. Stephen Semple: Well, because it didn’t have the name Home and all those other things. So they said, “Okay. Well, let’s call it the Home Depot.” Dave Young: Look, Lowe’s doesn’t have the name Home in it either, but it’s not Bad Bernie’s. What was it? Builders? Stephen Semple: Buildall. Dave Young: Buildall? Stephen Semple: Yes. Dave Young: It doesn’t roll off the tongue. It blurts out of your mouth in a not great way. Yeah. I have to side with the investors on this one. Stephen Semple: I have to say, I think even on this one, the investors, they’re often not right, but I think on this one they were right. So they opened in Atlanta, 60,000 square feet. Remember that little bit of a difference in terms of the money that they wanted to raise? Dave Young: Yeah. Stephen Semple: They wanted to raise the 25 million and only had three and a half million. So it made a couple of things difficult, such as stocking 60,000 square feet full of merchandise. Dave Young: Sure. That’s a lot of merchandise. Stephen Semple: So to make it look full, they went out and they bought empty paint cans, thousands of empty paint cans and thousands of empty boxes and basically put them on the shelves. Dave Young: Oh, boy. Stephen Semple: And they wanted to make it feel like a working warehouse so they threw sawdust on the floor. So it’s sawdust on the floor, empty boxes, empty paint cans. Dave Young: Just have one guy driving around with a forklift randomly just… Stephen Semple: They couldn’t afford a lit sign, so they had to make it bright to stand out. So that’s why they went with the orange. Now here’s what’s really interesting. Dave Young: Okay. That makes sense. Stephen Semple: Our client in Edmonton who sells used RVs has a location that’s relatively close to the airport, so you can’t do a lit sign. Jay Mistry Art Design. We picked a very specific shade of orange because what we knew is the setting sun would hit it. And when the setting sun hits that sign, it looks like it’s glowing. And then we got Rick to buy a spotlight and Jay even said to him, “Spotlight has to have this specific criteria to it.” And we put the spotlight onto it and it looks like it’s glowing. There’s cheap ways to make a sign look lit without lighting it. But anyway, that’s why it was orange. Dave Young: Shining the light on it is fine. Stephen Semple: Right. But that’s why they went with the orange, is like, “We can’t light it. It’s got to stand out.” So they do launch day. Launch day does not go well. Literally, they had a newspaper ad that was supposed to run that didn’t run. Nobody showed up. They literally sent kids and family into the parking lot, literally to hand out dollar bills, come to the store. First year’s a disaster. They lose a million dollars in the first year. Dave Young: Here’s what we know about hardware. When do we buy hardware? When we need it. Stephen Semple: Yes, when we’re fixing something. Yep. Dave Young: When we’re fixing something, when we need it. I don’t need it today, but I don’t know if I need it tomorrow because nothing’s broken yet and I don’t have a project I’m working on. So you got to be patient in the hardware business, don’t you? Stephen Semple: Well, they also did something interesting to stimulate sales. So the first year they lose a million dollars and then they get this chance to buy fireplace accessories really cheap. Now think about this. It’s the summertime, they’re in the South and there’s these cheap fireplace accessories. They buy 4,000 of them and they plan to sell them at just above the price and advertise it like crazy. They’re selling these things for 37 bucks. And here’s what’s crazy. People travel from miles away to buy this stuff. And when they’re there, they’re walking around and they buy other things. So the original history- Dave Young: Get an empty can of paint. Stephen Semple: Yeah. And to get some paint. Dave Young: A big box. Stephen Semple: So the original history of Home Depot is they did all these flash sales. Flash sale, flash sale, flash sale. Okay. So in 1980, they do more sales. But one of the things they also do is they start hiring professional contractors and start running these clinics inside the store. This whole idea is we’re going to do a flash sale. Dave Young: I remember that. Yeah. Stephen Semple: Right. We’re going to do a flash sale to bring people in and then people will maybe watch the clinic and then they’ll buy other stuff. Dave Young: They’ll learn how to do tiling or all that stuff. Stephen Semple: So it’s 1985, they have 50 stores. Lowe’s has 300 stores and Lowe’s secret shops them. They start copying each other at this point. Now, Sam Walton, founder of Walmart, ends up becoming important in all this because Sam Walton calls them and you’re going to love Sam’s advice. Dave Young: Stay tuned. We’re going to wrap up this story and tell you how to apply this lesson to your business right after this. [Using Stories To Sell Ad] Dave Young: Let’s pick up our story where we left off and trust me, you haven’t missed a thing. Stephen Semple: Sam Walton calls them and says, “Guys, love what you’re doing, but you need to shift your model.” And you’re going to love Sam’s advice because it speaks to what we do from the standpoint of running these sales, there’s a downside to running all these sales. And he said, “Get rid of the flash sales, buy in bulk, keep everything as cheap as possible.” If that’s your dealio, low prices, don’t do flash sales, just do low prices, advertise that you got low prices on everything, go that way, and sales soar. So remember, Home Depot was 50 stores and Lowe’s was 300 stores. So that was ’85. So 1992, seven years later after implementing Sam Walton’s advice, Home Depot was doing seven billion in sales and Lowe’s is doing four billion. They blow past Lowe’s. Blow past them and even started opening locations in the same location. Lowe’s basically never catches up. There was one point where every 53 hours there was a Home Depot open. Dave Young: That’s a lot of cans of empty paint. Empty cans of paint. Stephen Semple: That’s a lot of cans of empty paint. Dave Young: Do you know what I miss about Home Depot? I remember when they did the little seminars and things, I thought it was cool. I didn’t ever take one. From where I lived at the time, you had to drive 100 miles to get to Home Depot. But when you got there, you could always get a sausage. They always had somebody out front cooking- Stephen Semple: Oh, doing food. Dave Young: … smoked sausage or something, right? Stephen Semple: Yeah. I think it’s a mistake that Home Depot has gotten away from that. But I do find interesting that what they recognized was when you do a flash sale, you’re not making money on the flash sale. The flash sale is a loss-leader to get people into the store. Now that I’ve got you in the store, I need to do something. And so running those clinics and those things was a great way to get people further engaged, see them as being professional and buy other things. What I do like was Home Depot wasn’t just flash sale, bring people in. There was a further leg to that stool. But what I also love was Sam Walton saying, “Forget the flash sales. Just do everyday low prices.” Dave Young: Well, it’s an interesting distinction between having a flash sale and a loss-leader that you don’t advertise as a sale. You just say, “Hey, screwdrivers are $1.99.” Stephen Semple: Correct. Dave Young: It’s not a sale price. That’s the price of a screwdriver today. Stephen Semple: Correct. Correct. Dave Young: And then people go, “Oh, well.” And maybe the screwdrivers cost you $4. But you advertise that screwdrivers are $1.99, and people that need screwdrivers also need screws and other size screwdrivers and all kinds of other things. But it gives the impression that everything you buy in there is going to be that kind of a price. But like you said, it’s not a flash sale. Stephen Semple: It’s not a flash sale. Dave Young: It’s just the price of a screwdriver. And that was what Walton was so good at, right? Stephen Semple: Yes. Right. Dave Young: He made Walmart become known for low prices, even though they weren’t always the lowest price. Stephen Semple: Well, that’s exactly it. And that’s what Sam’s advice was. Sam’s advice was the place that you want to occupy in somebody’s mind is, “You’ve got it, you’ve probably got a couple and they’re all a good price for your category,” because then when you do that, you own the mind in that category. Dave Young: Now here’s what’s interesting too. Did Sam Walton just call them up? Stephen Semple: Yeah, he did. Dave Young: And he wasn’t an investor. Stephen Semple: No. Dave Young: He was just like, “Hey guys, here’s how you’re screwing this up.” Stephen Semple: Hey guys, here’s how you- Dave Young: That’s pretty amazing. Stephen Semple: It might be a myth, but that’s the story floating out there according to the folks from Home Depot, is one day, Sam called and said, “Hey guys.” Dave Young: And here’s the other amazing thing is they took his advice because what I’ve found, you’ve found, all of us that do ad consulting work is the advice you give somebody that you don’t charge them for- Stephen Semple: They often don’t take it. Dave Young: … they often don’t do anything with it. Stephen Semple: It’s true. Dave Young: If they do, then you’re like, “Okay, well, I’ve got somebody I can work with.” Because often people look at it and go, “Well, shoot, you didn’t charge me anything for that. So how valuable could that be?” I remember our friend, Jeffrey Eisenberg. This is, shoot, 20 years ago, when someone would contact him for website consulting, he would get on the phone with them and they’d look at the site together and he’d make them two or three recommendations, “Here’s what you need to fix right now and this other thing. These are easy fixes. Just have your web guy do this, this and this, and your website will convert a lot better. And then let me know if you want to talk again.” And if they called him back a few weeks later and are like, “I want to talk again,” he’s like, “Well, have you done the things I told you?” “No. Because we’re not…” And like, “No, dude, I’m not even talking to you if you don’t do those things. Not even doing it, not having another conversation with you.” So I love that Sam just called him up. Stephen Semple: And the other part about taking advice, because look, in marketing and business, everybody wants to give their advice. But when a guy like Sam Walton is giving you advice, you should listen. Dave Young: You should. Stephen Semple: I was joking the other day with a client of mine who’s in Western Canada, one of the self-made billionaires is a guy by the name of Jimmy Pattison. We were talking about advice and I was like, “Yeah, if Jimmy Pattison ever calls and gives you some advice, take it.” Now, if the guy who’s just read a lot of books gives you some advice, maybe not. If Sam Walton calls, take it. Dave Young: This is terrible, but the most frustrating thing is when a business owner takes the advice of their veterinarian’s nephew. Stephen Semple: Well, exactly. Dave Young: Or, “My cousin says that we shouldn’t do it that way.” Stephen Semple: Yeah. Dave Young: And I’m like, “Well, you should just hire your cousin.” Stephen Semple: Right. And it happens a lot, as we know, in marketing because we all feel like we have an opinion in it because we’re all exposed to the messages all the time. But here’s the interesting thing, I’ve grown up my entire life with homes with indoor plumbing. Does not make me a plumber. Dave Young: No. Stephen Semple: Right. Miraculously. So to me, the part that I really loved with Home Depot was this audacity of, “Okay, how do we make it look big? How do we make it look real?” And even that first flash sale being this weird thing because it was fireplace accessories in the South in the summer. Even though we’re not big fans of flash sales, they saw something that worked and replicated it and it worked for a period of time. But then we’re still willing to pivot off of that, and so to go, “Okay, you know what? There is limitations to that. Let’s pivot off of that and do this thing.” And not everybody can be successful being low price. You can be successful being low price when you are giving a depot feeling, because let’s face it, you go in there, and the stores are bare bones, they’re buying in high volume. You can win at that game when you do it that way. Dave Young: Yeah. It could have been that the fireplace accessories is when Walton first noticed them. If I was writing this legend- Stephen Semple: Maybe. Dave Young: Because that’s really the tactic that he used, that’s what got started with his story, is buying [inaudible 00:18:53]. Stephen Semple: That’s his origin as well. Yes. Dave Young: There were a whole bunch of lawnmowers. I could get them real cheap and the staff was like, “Okay, so we’re going to store them till next summer,” because this is the end of the summer, right? Somebody else was overstocked. And he’s like, “No, we’re going to line them all up by the road and put a low price on them.” Stephen Semple: Yeah. And just move them. Dave Young: We just move them out, just blow them out. It’s not a lawnmower sale. It’s lawnmowers cost this much right here, right now, and there they are and that’s all there are. Stephen Semple: Right. So that’s a great observation. So their origin is very similar to his, except he didn’t make it a flash sale. He just sold them at a low price. Yeah. Dave Young: Yeah, just like, “No, I got these lawnmowers. Here’s what they cost and there they are. There’s that many of them.” Stephen Semple: That’s probably where it came from. I hadn’t connected those dots. That’s a great observation, Dave. Dave Young: That’s just part of the same DNA. Stephen Semple: It is. Dave Young: I love the story of Home Depot. I wish I could drive over there right now and get a smoked sausage, but alas. That ship has sailed, my friend. Stephen Semple: Yeah. Well, they still got hot dogs at Costco, so there’s still hope. Dave Young: Oh, there is that. All right. I’ll go to Costco instead. Thank you, Stephen. Stephen Semple: All right, thanks. Dave Young: Thanks for listening to the podcast. Please share us, subscribe on your favorite podcast app and leave us a big, fat, juicy five star rating and review at Apple Podcasts. And if you’d like to schedule your own 90-minute Empire Building session, you can do it at empirebuildingprogram.com.

In this episode of the Capital Raiser Show, Richard C. Wilson sits down with Jeff Hoffman—serial entrepreneur and Billioanire, Priceline.com/Booking.com founding team member, inventor of the airport check-in kiosk, Grammy and Emmy winner, and chairman of the Global Entrepreneurship Network. Out of 275+ events and 2,000+ speakers, Jeff has been rated the single best speaker to ever hit the Family Office Club stage—and you're about to hear why. Jeff unpacks the mindset shift that changed everything for him: real leaders don't create followers, they create other leaders. He shares how stepping out of the way, serving his team (including literally picking up a 20-year-old's dry cleaning), and obsessing over operational focus—"if it doesn't sell more hotel rooms, don't do it"—helped scale Priceline/Booking.com into a global giant. Jeff explains how to avoid being "blinded by your own brilliance," including the lesson he learned from Sam Walton: stop listening to experts and start listening to your customer (the "farmers"). He also dives into defining success and failure upfront on a single sheet of paper, wiring money back to investors when metrics showed they wouldn't hit the mark, and why most founders completely mishandle investor relations by only calling when they need cash. On the culture side, Jeff shows how you keep a team so engaged that nobody quits—by knowing exactly why each person comes to work (like buying a mom a house) and tying their personal goals to the company mission. He challenges the "grind 24/7" culture, arguing instead for working smart, automating ruthlessly, and reserving the all-nighters for the rare moments that truly matter. Jeff closes with his work at the Global Entrepreneurship Network (200 countries) and World Youth Horizons, redefining entrepreneurship as self-determination and teaching people—especially youth—how to design their own future instead of depending on anyone else. If you care about scaling a business, leading people well, raising capital intelligently, and living a life that actually aligns with your values, this conversation is a masterclass. To meet investors in person and plug into our ecosystem, visit https://familyoffices.com/. Our investor club offers 30 nationwide events a year, 10,000 registered investors, and 40 proprietary AI tools to help you raise capital and grow your platform.

In this episode Ben speaks with Sam Walton, the Livestock Manager at Cotswold Farm Park. Sam shares his journey from growing up on a family farm in Cheshire to his current role, emphasizing the importance of public engagement and education in farming. He discusses his experiences in New Zealand, insights on agritourism, and the significance of mental health awareness in the agricultural sector. Sam also reflects on his radio career and the importance of networking within the farming community, concluding with messages to both the public and farmers about supporting the industry.

Lucious Lowe never saw his empire, but his son and son-in-law figured out how to give the customer what they needed. Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom-and-pop to major brands. Stephen Semple is a marketing consultant, story collector, and storyteller. I’m Stephen’s sidekick and business partner, Dave Young. Before we get into today’s episode, a word from our sponsor, which is… Well, it’s us, but we’re highlighting ads we’ve written and produced for our clients, so here’s one of those. [OG Law Ad] Dave Young: Welcome back to the Empire Builders Podcast. I’m Dave Young, Steve Semple’s here, and we’re going to talk about another empire. Stephen Semple: Another one. Imagine that. Dave Young: And it’s another one of these big boxes. Stephen Semple: Yes. Dave Young: So this is brick and mortar big box store. And so there’s two things. One thing I love, one thing I hate about big box stores in this category. I used to love going down to my local hardware store and just tooling around. Stephen Semple: Yeah. Dave Young: And I guess you can still do that, but there’s something about some old guy walking up and chatting with you about what you could maybe buy or not. Stephen Semple: Yeah. Dave Young: And so Lowe’s is our subject today. Stephen Semple: Yes. Dave Young: I’m interested to see how they started. And again, I love shopping at Lowe’s, I hate shopping at Lowe’s, for two different reasons, right? Stephen Semple: Yeah. Dave Young: The variety. It’s all there. Stephen Semple: Yes. Dave Young: The old guy that knows every piece of hardware in the store. Good luck finding that person. I mean, they may be there, they may not. It’s hit and miss. Stephen Semple: Yes. So the first Lowe’s, of course, started as one of those old-timey hardware stores. Dave Young: Sure. Stephen Semple: It was a 3000-foot store in 1921 in North Wilkesboro in North Carolina by Lucius Smith Lowe. That’s basically the first Lowe’s was way back in 1921. Dave Young: Lucius Smith Lowe. Okay. Stephen Semple: But the success of Lowe’s actually did not come from Lowe, but rather an in-law named Carl Buchan, who came on the scene in 1943. Dave Young: Okay. Stephen Semple: So when Lucius died in 1940, the business was inherited by his daughter, Ruth Buchan, who then… Now, I was not able to find the family story on this, because I find this interesting. It was inherited by the daughter, who then sold the company to her brother, and I always thought, “Why’d the brother not inherit the business?” Dave Young: Right? Stephen Semple: Now, I also get why she probably sold it, because as we know, one of the really big problems, especially back in the 1940s, was women couldn’t get credit, and it was very, very, very hard in the forties for a woman to actually run a business. So I also understand why she sold. Dave Young: Yeah. Yeah, and weird estate planning goes on that you don’t know why they did what they did. Right? Maybe the son had an insurance policy. Right? Stephen Semple: Who knows? Who knows? Dave Young: I don’t know, but maybe he got… Who knows? Stephen Semple: Now, at the same time, when she sold it to her brother, her husband, Carl, ended up becoming a partner in the business. Dave Young: Okay. Stephen Semple: So it was this really weird, father dies, it goes to the daughter, the daughter sells it to the brother, and the husband ends up becoming a partner. Dave Young: Who knows about the transactions inside family businesses, right? That’s a… Stephen Semple: Right? All I’m just saying is, if it sounds weird, it was. Dave Young: Yeah. Stephen Semple: That’s all I’m saying. But moving forward, what’s really incredible is today, Lowe’s is 1700 locations doing 80 billion in sales. So it is- Dave Young: That’s not nothing. Stephen Semple: That’s not nothing. That’s not nothing. But back in the early forties, hardware stores did not have building supplies. They didn’t have plywood, they didn’t have… They didn’t have building supplies. Dave Young: Yeah, yeah. You went across to the lumber yard to get that stuff. Stephen Semple: Correct. Correct. Dave Young: Yeah. Stephen Semple: And so one day Carl gets this deal on toilets, and he decides to buy a whole pile of toilets. When I say a whole pile, the whole truckload, which was 400 toilets. Dave Young: Okay. Stephen Semple: And James? James Lowe comes in the office one day and he’s like, “Toilets in the office.” And he says, “Carl, why is there toilets in the office?” He goes, “Well, I bought 400 of them and I ran out of space, so they’re sitting in here.” And he’s like, “We don’t sell toilets.” He goes, “Well, we are now, because we got 400 of them.” Dave Young: “Yeah, we sell toilets. Sell them or else.” Stephen Semple: “[inaudible 00:05:20] now!” So, “Yes we are.” And what turns out is that they sell out really quickly. And Carl looks into this a little bit more and he sees this trend. Right? Think about it. It’s 1946. What’s happening in the United States? There’s a building boom. Right? The number of homes being built has grown 10 times over the last three years, because we got the baby boom happening. We got the return of the soldiers, we got the baby boom, we got the sprouting up of the suburbs. That part is growing. So they sell out these toilets in like a week, and so he wants to open a second store. He goes, “Look, here’s what I want to do. I want to open a second store and we’re going to sell everything for building and fixing a home. Everything. We’re going to turn specialty stores into one shop.” So in other words, you don’t have to go to the plumber… you know. Look, this is another variation on the department store and the convenience store. Dave Young: Absolutely. Stephen Semple: So Lowe agrees, and they invest a hundred and sixty thousand dollars in the second store, and it’s a 10,000 square foot, so they’ve gone from 3000 square feet to a 10,000 square foot store in Spartan, North Carolina. Dave Young: And so yeah, we tripled the size. It’s all the space we’ll ever need. 10,000 feet. Stephen Semple: Right. So it’s 1949, and literally customers are coming. Yeah, that’s right. It’s 10,000 square feet. I missed that for a minute. Yeah, yeah. Hold that thought. Dave Young: “Hang on.” Stephen Semple: Hold that thought. So it’s so popular, they’re actually finding customers are coming from states away from, outside of North Carolina. So Carl wants to open a third store, and Lowe doesn’t want to. He doesn’t want to grow this thing. Dave Young: Isn’t it amazing that the whole company’s not called Carl’s instead of Lowe’s? Stephen Semple: Well, here’s what ends up happening. Lowe says, “Look, I don’t want to do this. Why don’t you just buy me out?” Carl buys out Lowe, but says, “Well, let’s keep the name.” Dave Young: Yeah. Stephen Semple: “Let’s keep the name.” Dave Young: Yeah, that’s smart. You got equity there. Stephen Semple: Yeah. So in 1952, Lowe is bought out, but they keep the name. And it expands rapidly. They quickly open 13 more stores. [inaudible 00:07:27] Dave Young: Oh, wow. See, I did not know they were this old. Stephen Semple: Yeah. So it starts growing like crazy, but then they hit a problem. After six years, profits stall. Dave Young: Oh, okay. Stephen Semple: What he notices is, he’s been focusing on opening stores, but not focusing on the buying experience. And if you went into a Lowe’s at that time, it was super disorganized. Stuff was just all over the place. Dave Young: Okay. Stephen Semple: And so it was not appealing. So he hires Bob Strickland, marketing guy. Bob points out that people come in to get what they need, but what if we were able to make them to stay and buy other things? Like instead of an oven, how about a whole kitchen? Dave Young: Sure. Stephen Semple: So he says, “Let’s be like a department store.” They looked at how Sears was laid out, right? There was these departments. Dave Young: Yeah. Stephen Semple: And basically this is the model that they created, which is really the template that all these big box home improvement stores are built on. Here’s the appliance section, here’s the flooring section. Dave Young: Yeah. Stephen Semple: But it didn’t just have flooring. It had, okay, along with the flooring, the caulking and the this and the… Dave Young: Yeah. Stephen Semple: All the things that you need with it. Dave Young: So take those toilets out of the power tool section and put them where they belong. Yeah. Stephen Semple: Yeah. So they create this template that they’re going to roll out, and before they’re ready to roll it out, Buchan passes away. Dave Young: Oh no. Stephen Semple: And so now it’s up to Strickland to open with the new idea. So Strickland takes the ideas. He opens five stores on it. They’re super successful. In two decades they got a hundred and eighty stores, 1978 they’re the largest in the region, 1979 they’re 200 stores, and they just grow and grow and grow and become what they are today. But Lowe’s basically built this idea. The two innovations Lowe’s did was built this idea of, “We should have a store that’s dedicated to home improvement,” because they saw the trend on it. And then they created this whole idea of looking at department stores and saying, “This is how a home improvement store should be organized.” Dave Young: Yeah. Stephen Semple: That template? That template, that idea that every one of these big box home improvement stores is built on, was created by Lowe’s. Dave Young: Stay tuned. We’re going to wrap up this story and tell you how to apply this lesson to your business right after this. [Using Stories to Sell Ad] Dave Young: Let’s pick up our story where we left off, and trust me, you haven’t missed a thing. Stephen Semple: … that idea that every one of these big box home improvement stores is built on, was created by Lowe’s. Dave Young: Well, and so the reason I didn’t know about them when I was younger is that they started in the east and slowly moved west. Stephen Semple: Yeah. Yes. Dave Young: And I don’t know where Home Depot started, but in the Rocky Mountain West and Western Plains, there were Home Depot stores long before there were any Lowe’s stores. Stephen Semple: Yeah. Yeah, yeah. Dave Young: So it’s just a matter of growth at that point then, right? Stephen Semple: Right. Dave Young: They figured out the formula. Stephen Semple: They figured out the formula, and then it’s just grow, grow, grow. Dave Young: I’m guessing that, yeah, Home Depot probably has a similar story. Either they copied Lowe’s or they figured it out themselves that this is the right way to do a big box home improvement store. We going to do that one sometime? Stephen Semple: Well, I don’t want to say much, because we are going to do… Oh. Dave Young: Okay. All right. I’ll hold that for another day. But- Stephen Semple: Well, what ends up often happening when I’m researching these things, there’s no way to do it without learning about both. Dave Young: Sure. Stephen Semple: So often that’s the reason why when we’re doing these, there will be two in a category, because you learn about both of them at the same time, because they have kind of a shared history, right? Dave Young: Well, and those guys absolutely copy each other. Right? Stephen Semple: They did. Dave Young: I think we go back, I don’t know what episode it was, but we talked about Cabela’s, and then we sort of told the story of them being eventually bought by Bass Pro. Stephen Semple: Right. Dave Young: And the [inaudible 00:12:08] Bass Pro, I think… Well, at least according to the people that I knew at Cabela’s, they were the first ones to build this giant experiential store. Right? Stephen Semple: Well, in Sam Walton- Dave Young: And so… But that gets copied. And Sam Walton, same thing, right? Stephen Semple: Well, Sam Walton has openly stated that he stole a lot of his ideas from Sol Price. Dave Young: Yeah. Yeah. Stephen Semple: He has come right out and said that. He’s like, “Oh yeah, I always watched what this guy did, and I’d always keeping my eye on him, because he was brilliant.” Right? Dave Young: Yeah, I mean- Stephen Semple: Who was the founder of Costco. Right? So. Dave Young: At the end of the day, these are just sharing good commerce ideas. Right? Stephen Semple: Yeah. Dave Young: Nothing new under the sun here. Stephen Semple: Yeah. Dave Young: There’s a reason that every ancient city has a bazaar, a marketplace where they all gather, right? You make it convenient for consumers by, even though you’re 10,000 little competitors, you’re all in one place. Stephen Semple: Yeah. What I really liked, again, about this story, was Lowe saw a trend going on in the United States, and the trend was, “People are building these homes, and so there’s going to be more demand for home improvement stuff. How do I make it easier?” Again, that theme of, “How do I make it easier for the consumer? Wouldn’t it be so much easier for the consumer if it was this one stop?” Dave Young: Yeah. [inaudible 00:13:29] Stephen Semple: Now, the other thing I thought that was brilliant is that when the profits stalled out, he didn’t flip to, “I need more leads, I need more customers.” He didn’t go there. He went, “Oh, if this has stalled out, there’s something I’m doing wrong inside my four walls.” Dave Young: Yeah, yeah. Stephen Semple: And he looked at the experience and he said, “Okay, I’ve already got customers. What I need to do is if I make that experience better, the customers will return more often and will spend more.” I remember going to a presentation from the folks from Barnes and Noble, and Barnes and Noble talking about how they… And Ikea’s the same. They would measure how long somebody was in the store. Ikea’s amazing at this. And what they know is, the longer you’re in the store, the more you spend. Period. So what’s their whole objective is “I’m going to keep you in the store. How do I do that? I’m going to put a restaurant in. I’m going to put in a place where you can stick your kids to play. I’m going to make it so that you’ve got to walk the maze.” The point is, the longer you’re there, the more you’re going to buy. And not only that, Ikea’s figured out, “If I display these things this way, people will stop and look at it,” so that they do move through the stores slower. Dave Young: Yeah. You- Stephen Semple: But Lowe’s really caught into- Dave Young: And there’s sort of a logical progression to it. Stephen Semple: Right. Right. Dave Young: Yeah. Stephen Semple: So Lowe’s created that idea of “Let’s do this one stop shop.” And then the next one was, “Okay. Now that we’ve made this idea more convenient, let’s now make this idea more enjoyable and also more convenient, because there’s all these ancillary things that you need when you’re doing that in the moment. Let’s put all that stuff together.” Dave Young: Well, and you bring designers in because if you’re coming in for all these kitchen products- Stephen Semple: Yeah, absolutely. Dave Young: … maybe you don’t know how to put that all together and make it look good. Stephen Semple: Yeah. Yeah. Dave Young: Right? So here’s you’re somebody that can help you lay it out. Stephen Semple: Yes. Dave Young: And then they can sell you all the materials that either you or your contractor need to make it happen. Stephen Semple: Now what we know is, David Young is going to leave this talk with an even more love-hate relationship of Lowe’s. Am I right? Dave Young: I’m not remodeling anything. No, I love walking around a Lowe’s. I find it hard to… If I need some adhesive, I need some Gorilla Glue or something, and I walk into a Lowe’s, two things are going to happen. Unless I’m in just a blazing hurry and I’ve left someone in the car with the car running- Stephen Semple: Yeah. Dave Young: … I’m going to just wander around. Stephen Semple: Yeah. Dave Young: And I’m likely to walk out with something else besides the glue. Along with the glue. Stephen Semple: Correct. Yes. Dave Young: Sometimes without the glue, because I forgot why I went in. Stephen Semple: Oh God, yeah. Dave Young: But that’s a whole different psychological thing. We just finished talking about that at my portals class this week. Stephen Semple: Oh yeah, [inaudible 00:16:25] Dave Young: Tell you about that sometimes. That was fun. Stephen Semple: It’s a thing. It’s a thing. Dave Young: We had a blast. Yeah. Wow. Lowe’s. Stephen Semple: Yeah. There you go. Dave Young: Now I’m thinking in my head, what do I need? You know, near Wizard Academy, we’re not really close to a Lowe’s. You’ve got to drive 20 minutes or so to get to a Lowe’s. Stephen Semple: Yep. Dave Young: But about 10 minutes, 15 minutes away is independently owned Ace Hardware store. Stephen Semple: Yep. Dave Young: And I love that one too. Right? Because if you’re really just looking for a tool or some little hardware bits and bobs, you’ll always find it there. Right? [inaudible 00:17:02] Stephen Semple: Yeah, well, because Ace is the place with a helpful hardware man, right? Dave Young: Yeah. And they’re helpful because they’re locally owned. So there’s always somebody in there that can, “This is not the glue you really want. You want this.” Stephen Semple: Right. Right. Dave Young: “Oh, I thought I just wanted Gorilla Glue.” But this guy knows. Stephen Semple: Right. Dave Young: So it’s two different experiences, and a lot of your choice in it is based on experience. Stephen Semple: Yeah, yep. Yes. Dave Young: I mean, shoot. When we lived in western Nebraska, they eventually got a Lowe’s, but they had a Home Depot first in Cheyenne, Wyoming. We were a hundred miles from there. Stephen Semple: Right. Dave Young: And there was a lumber yard in Sydney, and there was a hardware store in Sydney, and we would drive to Home Depot a hundred miles away. Stephen Semple: Yes. Yes. Dave Young: Because one, we could find any of it there. Stephen Semple: Yeah. Dave Young: And two, Cheyenne also had a Starbucks and a Baskin-Robbins and a… right? Stephen Semple: That’s the other thing that starts to end up happening, is you get one of these, and then the other things sprout up around that. Dave Young: Yeah. Yeah, you rarely see one off by itself somewhere. Stephen Semple: Yeah. Well, that’s the reason why you would see a movie theater, and then the restaurants go. Dave Young: Yeah, yeah. Stephen Semple: These things happen. But yeah. But you know, I was pretty impressed when I heard the history of Lowe, and also thought it was really interesting looking at this department store and bringing it across. And again, it’s that idea. Dave Young: Yeah. Stephen Semple: “Who outside of my world is doing this really well?” Dave Young: I kind of wasn’t surprised that their origin goes back as far as it did, because I think you always are going to assume that that started as a little hardware store somewhere, or a lumber yard. Stephen Semple: Yeah. Dave Young: But I was surprised that they started that growth curve as soon as they did. Stephen Semple: Yeah. Dave Young: Right? Stephen Semple: Yeah. Dave Young: So they were really the pioneers in that. So. Stephen Semple: Yep, and the key is you didn’t need more than 10,000 square feet, as you pointed out. Dave Young: Yeah. Well, you do today. Stephen Semple: Some of them are like, “Holy crap.” Yeah. Dave Young: You need 10,000 square feet in the kitchen part. Stephen Semple: No kidding. No kidding. Dave Young: All right, well, thank you for bringing that story, Stephen. I like that. Stephen Semple: All right. All right, thanks David. Dave Young: And congrats, Lowe’s, on decades and decades of money making as an empire. Stephen Semple: Yeah. Yeah. Awesome. Thanks, man. Dave Young: Thanks. Thanks for listening to the podcast. Please share us, subscribe on your favorite podcast app, and leave us a big fat juicy five star rating and review at Apple Podcasts. And if you’d like to schedule your own 90-minute empire building session, you can do it at empirebuildingprogram.com.

Welcome to Omni Talk's Retail Daily Minute, sponsored by Mirakl. In today's Retail Daily Minute, Omni Talk's Chris Walton discusses:Walmart CEO Doug McMillon steps down after over a decade, with John Furner set to become the retail giant's fifth CEO since founder Sam Walton on February 1st.Google launches comprehensive AI shopping features including conversational search, agentic checkout that can purchase items automatically, and an AI tool that calls local stores to check product availability.Ahold Delhaize USA completes rollout of its proprietary digital platform across all five grocery banners, marking a multi-year journey that now supports e-commerce for 2,000+ stores serving 26 million customers weekly.The Retail Daily Minute has been rocketing up the Feedspot charts, so stay informed with Omni Talk's Retail Daily Minute, your source for the latest and most important retail insights. Be careful out there!

En la edición de hoy del Radar Empresarial examinamos la inminente transición en la cúpula de Walmart. Doug McMillon, quien ha liderado la compañía durante más de una década, confirmó que se retirará el próximo año, poniendo fin a una etapa marcada por profundos cambios en el gigante minorista. La sucesión ya está definida: John Furner, actual alto ejecutivo de la compañía, tomará las riendas como director general a partir de febrero de 2026. Esta decisión abre la puerta a una reflexión sobre el legado que deja McMillon y sobre los desafíos que le esperan a su sustituto. McMillon asumió la dirección en febrero de 2014, reemplazando a Mike Duke en un momento en el que Walmart buscaba contener el avance de Amazon y reforzar su presencia digital. Por entonces, la empresa facturaba unos 476.000 millones de dólares, mientras que en el ejercicio más reciente alcanzó los 680.000 millones. Durante su gestión, Walmart obtuvo una rentabilidad anualizada cercana al 15%, solo por detrás de Pandora dentro de su sector. Las ventas globales superaron los 120.000 millones de dólares en el último año, un salto significativo si se compara con los poco más de 10.000 millones que registraba la compañía cuando él comenzó su mandato. En paralelo, las acciones de Walmart se revalorizaron un 323%, alcanzando en 2024 niveles que no se observaban desde finales de los años noventa. Tras estos hitos, y tras consolidarse como uno de los líderes más influyentes desde Sam Walton, McMillon decidió comunicar su retiro antes de la difusión de los nuevos resultados corporativos. Ahora Furner deberá navegar un escenario más calmado que el de años anteriores, especialmente después del periodo de tensiones arancelarias durante la administración de Donald Trump, que inicialmente había puesto a Walmart en el centro de sus críticas. Pero ¿quién es exactamente John Furner? Vinculado a la compañía desde 1993, ha desempeñado cargos estratégicos en áreas internacionales y en Sam's Club, además de encabezar la división estadounidense desde la pandemia, un rol que fortaleció su reputación interna. Una de sus decisiones más destacadas fue anticiparse a los aranceles de Trump reorganizando las cadenas de suministro antes de que entraran en vigor, demostrando capacidad para gestionar crisis y adaptarse con rapidez.

Story of the Week (DR):Walmart CEO Doug McMillon to retire in January and US operations chief John Furner will take over MMOn February 1, 2026, Mr. McMillon will continue in his capacity as an executive officer of the Company, he will report to the Chairman of the Board of Directors and he will continue to be employed as an associate of the Company through January 31, 2027. Mr. McMillon will also continue his service as a director on the Board until the June 2026 Annual Shareholders' MeetingJohn Furner, 51, a longtime insider and head of Walmart's U.S. operations, will take over. Furner, who started with the company in 1993, has more than 30 years in a variety of leadership roles across all three of Walmart's operating segments, including six years as the head of Walmart's U.S. business.Walmart Announces John Furner as President and Chief Executive Officer and DirectorGreg Penner still chair: Greg is only the third person, after his father-in-law, Rob Walton, and company founder, Sam Walton, to serve in this position.Doug's quotes on stakeholder capitalism:"We simply won't be here if we don't take care of the very things that allow us to exist: our associates, customers, suppliers, and the planet. That's not up for debate.""I think the growing interest in stakeholder capitalism stems from companies genuinely invested in doing good for our world, because it's the right thing to do and because businesses who take this approach are stronger.""Big problems don't rest on the shoulders of government or corporations alone... We need to reinvent capitalism.""Retailers will only survive if their business creates shared value that benefits shareholders and society... Basically, we'll design retail and other businesses so that all stakeholders (as many as possible) benefit: customers, associates/employees, shareholders, the communities we serve, and those in the supply chain."Under McMillon's leadership, Walmart has grown both top-line sales and profits. Its stock price is up 400% over the last decade. McMillon also led significant investments in both technology and labor, which are paying off for the company.Let women (or a black woman) do the work: Compensation Committee, led by chair Carla Harris and Marissa Mayer, are in control of succession planningJapan's Takaichi Says Firms Focusing Too Much on ShareholdersPrime Minister Sanae Takaichi: “I think there has been a trend of too much focus on shareholders. I will revise the corporate governance code to encourage companies to appropriately distribute resources not just to shareholders but to employees.”Takaichi added that she considered the excessive hoarding of capital by firms to be a problem, and said she wanted firms to effectively use it to invest in people including through wage hikes: “I would like to see firms conduct business not just thinking about clients, but also considering their contribution to the broader society.”Disney ditches 'diversity' and 'DEI' in business report for the first time since 2019In the company's 2025 Form 10-K filed after its recent Q4 meeting, the words "diversity," "inclusion," "DEI" or "diversity, equity and inclusion," appeared zero times. While the term "equity" appeared about 130 times, it was only used in a financial context.By contrast, the company's 2024 SEC filing included a dedicated section on diversity, equity and inclusion (DEI)."Our DEI objectives are to build and sustain teams that reflect the life experiences of our audiences, while employing and supporting a diverse array of voices in our creative and production teams," the 2024 report read.Initiatives under that DEI section included programs to engage "creative executives from underrepresented backgrounds" and "over 100 employee-led groups which represent and support the diverse communities that make up our global workforce."Earlier this year, Disney also removed two of its DEI programs, "Reimagine Tomorrow" and "The Disney Look," from its 2024 SEC 10-K report. The "Reimagine Tomorrow" program came under scrutiny after a 2022 meeting the program hosted featured a Disney executive touting her "not-at-all-secret gay agenda."A few other Disney headlines this week:Disney CEO Bob Iger wants people to use AI to make their own content for Disney+Disney is losing millions a day in its fight with YouTube TVDisney's CEO Sequel Isn't Having a Hollywood EndingActivist investor pushes Cracker Barrel shareholders to oust DEI specialistActivist investor Sardar Biglari intensified his campaign against Cracker Barrel's leadership, urging shareholders to vote against CEO Julie Felss Masino and board member Gilbert Dávila in the company's upcoming annual meeting.Two major proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis, also urged shareholders to vote against one or more Cracker Barrel directors over concerns about performance and the company's controversial August rebrand.ISS and Glass Lewis advised shareholders to vote against Dávila, a marketing and diversity specialist who serves as the chair of the compensation committee. Glass Lewis also recommended a vote against Jody Bilney, who chairs the company's nominating and corporate governance committee.Neither proxy firm recommended ousting the CEO.Biglari has launched eight proxy fights in 15 yearsLetter to shareholders: only one stated reason to get rid of Davila: “And why does Mr. Dávila, the board's so-called multicultural marketing expert who signed off on this debacle, deserve re-election?”Goodliest of the Week (MM/DR):DR: Should we really blame billionaires for our own financial struggles? In fact, more Americans say yesPeople increasingly see extreme wealth as contributing to an unfair society, and that sentiment is especially high with Gen Z and millennials.Sixty-seven percent said billionaires are “creating more of an unfair society,” an eight-point increase from the 2024 survey. Should the law limit wealth accumulation? Even Republicans have gone up 12% since last year to just under 50%MM: Netflix CTO says the company has no 'formal performance reviews'Assholiest Which Asshole Do You Blame of the Week (MM):Rivian just doubled its CEO's salary and gave him a $4.6B pay packageChair of the Comp committee Sanford Schwartz, who has 2% influence thanks to CEO Robert Scaringe's dual class dictatorship - the 8K announcing the new pay package blames the Comp committee: “On November 6, 2025, the Compensation Committee of the Board of Directors of Rivian Automotive, Inc. [...] granted an option to purchase up to 36,500,000 shares of the Company's Class A Common Stock to Dr. Robert J. Scaringe.” They also wrote: “The foregoing summary of the terms of the 2025 CEO Award does not purport to be complete”, so we don't really know what the targets are anyway…Schwartz is an exec at Cox Enterprises - who invested $350m in Rivian in 2022“My hope is with the skills that we have,” says Cox president Sandy Schwartz, “and with all the things that we're learning, that we'll be the chief wholesale remarketer for all Rivians someday.”DR: Robert Scaringe, who, in addition to leading his money losing company Rivian, has Altman/Musked not one, but TWO separate spinoff companies (Mind Robotics, where he's on the board and owns 10% of the company, and does robots, and a “micromobility” spinoff called Also, Inc where Scaringe is Also Also on that board)Scaringe did get not one, but THREE degreesHe once estimated he spent “about 5%” of his time with his wife and three kids - they divorced this yearDual class shares, with which Scaringe can vote out the entire board if they DON'T give him whatever comp plan he wants?Elon Musk, who perfected the art of the meme compensation which this basically copies, but maybe worse?22,000,000 shares (60%) in 11 tranches for meeting share price targets between $40 and $140 per share - MEME IT UP BABY!7,250,000 shares in 3 tranches to make income7,250,000 shares in 3 tranches for cash flowMaybe Scaringe plans on a meme campaign to get that price up, get paid, then use the money on his OTHER new spinoff companiesVerizon to Cut About 15,000 JobsOLD NEW CEO Dan Shulman, who was lead independent director and on the board with the old CEO for 7 yearsHe first penned his welcome memo to employees by saying, “The biggest competitive advantage we have is our team.” He followed it with his first earnings call 20 days later with some more inspiration for employees: “To fund our investments in growth, we must significantly cut costs. We will reduce our cost to serve, streamline our operating model and be much more capital efficient.”Everyone loves hearing “you've been fired so we can be more capital efficient”DR: NEW OLD CEO Hans Vestberg, who is still on the board as a “special advisor”His farewell post said, “I've dedicated my life… the last nine years almost… to Verizon. It's an amazing company, amazing employees.”Vestberg once said in an interview he's been keeping a daily score of his emotional state for more than a decade, and when he scores himself below a certain level, he takes no meetings.I wonder if having your ex-lead director as a human body shield for firing 15,000 humans rates as a 7 out of 10?Chair of the Human Resources Committee of the board, Laxman Narasimhan, who has himself experienced being cut from his job as CEO of StarbucksVerizon employees, for costing too muchActivist investor pushes Cracker Barrel shareholders to oust DEI specialistThe CEO Julie Felss Masino, who is the leader and must have chosen to destroy the company by expanding its reach beyond white, overall wearing octogenarians.The DEI specialist - Gilbert Davila - who clearly DEI'ed the logo since his speciality is DEI and he is brown.Sardar Biglari, the “activist” that no one cares about, since he's pushing to vote against CEO Masino (a woman!) and Davila (a brown man!) using the 40% bot-driven outrage machine online as his excuseSardar's letter to investors on November 6 included this reasoning for voting against Davila, who is a diversity marketing expert and has been on the board since 2020: “And why does Mr. Dávila, the board's so-called multicultural marketing expert who signed off on this debacle, deserve re-election?” - that's it, that's his entire reasoning.Sardar's other winning holdings include Steak n' Shake, Maxim magazine, and Jack in the Box, all very popular and not at all pointlessDR: ISS and Glass Lewis, who not only suggested a vote for Masino but AGAINST Davila (because racism?), but GL actually suggested ALSO voting against Jody Bilney (chair of nom and a woman) - WHO WAS PUT THERE BY SARDAR BIGLARI in 2022Headliniest of the WeekDR: No one leaving New York City because of Mamdani, say two top real estate CEOsMM: Why Palantir CEO Alex Karp exhumed the 'whole yard' of his childhood homeRosebud… sorry, Rosita… his childhood dog. And no, that's not a joke - the dog was named Rosita (not Rosebud) and he wanted to rebury it at his New Hampshire homeThe university professors who owned Karp's childhood home "initially balked" at his request. Ultimately, they agreed, he wrote, and "Karp subsequently made a donation to the university where they taught.""Rosita played a tremendous role in our life," the Palantir CEO said. "It was more like, she's very, very high IQ. It was honestly more like a human than a dog." - also, the dog did NOT graduate from an elite universityWho Won the Week?DR: Jason Turner, a Walmart management associate who made $174k last year and is the brother-in-law of new Walmart CEO John Furner.MM: Shoppers at Costco, because Target just rolled this out:Target launches ‘10-4' training, encouraging workers to smile at customersIf employees are 10 feet away from a shopper, they should smile, make eye contact and wave. However, if they are within four feet of the shopper, they should personally greet the guest, smile and initiate a warm and helpful interactionAs if no one shopping there was the fault of employees not smilingAlso, US, because Trump is investigating getting rid of shareholder voting!PredictionsDR: ISS and Glass Lewis announce a “We Give Up 2026” policy where any director who could be blamed for something because they have black or brown skin gets an automatic “vote against” recommendation. MM: Does a window seat on a plane need a window? United Airlines says not. Yes, United Airlines is arguing against a lawsuit brought by people who bought a window seat but there was no window, that a window seat doesn't literally mean has a window. Prediction: Danone claims its Silk Almond Milk remove the “Contains Almonds” warning from the label and puts out a press release that almond milk does not literally mean almonds, it's more like almond-like-milk-colored-drink.

Do you ever look at other property management companies and wonder how they were able to grow and scale to thousands of doors?  In this episode of the #DoorGrowShow, property management growth experts Jason and Sarah Hull share insights they gleaned from successful founders and CEOs of multi-billion-dollar companies. You'll Learn [00:59] Execution is More Important Than Good Ideas [11:51] Narrowing Your Focus to What You're Best At [19:41] Ask Your Target Market [30:33] Everyone Should be Focused on One Goal Quotables “There's no shortage of ideas. It's execution that's the hard part.” “Everyone thinks… if I scale, I've got to do more. And actually, you have to do less to be able to scale…” “A lot of times we get caught up in creating systems, inventory, things that actually cause waste or over-optimizing each individual department or each individual step, but it actually reduces the overall goal of optimizing.” Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive Transcript Jason Hull (00:00) a lot of times we get caught up in creating systems, inventory, things that actually cause waste or over optimizing each individual department but it actually reduces the overall goal of optimizing for making more money.   All right, I'm Jason Hull. This is Sarah Hull, the owners of DoorGrow, the world's leading and most comprehensive coaching and consulting firm for long-term residential property management entrepreneurs. For over a decade and a half, we have brought innovative strategies and optimization to the property management industry. At DoorGrow, we believe that good property managers can change the world and that property management is the ultimate.   high trust gateway to real estate deals, relationships, and residual income. At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. Now, let's get into the show. Okay, so we recently kind of split paths, right?   so that you could go learn some stuff and I could go learn some stuff. So we usually do everything together. So, but we had, which I love, but we had two really cool opportunities. One I was very much more interested in than the other, because I was learning about AI, which I've been geeking out on. And then you went off to go to a profit event. And was really cool. We went to the first day together, but the second and third day I was in.   AI workshop, geeking out with some of the best on AI. Cool. I would love to hear what you took away from this event and what you learned, and maybe you can share that.   I wanted to go over my notes on one speaker in particular. I was kind of going back and forth between two of them and I think this is the one that I landed on. at a different date I could talk about the other one because you weren't there for either one of them. But on the second day, I'm just gonna call this like notes from a billionaire and not just a billionaire but a multi.   Billionaire and not just multi-billionaire but someone who is the founding member and CEO of I think they said they grew it to like it was a ridiculous number like 740 billion or it was a big it was a big number it was a very large impressive number and he was so nice I actually had a conversation with him before I even realized who he was I was chatting with him I wish I would have known   Like I recognized the name and then I saw him speak and I went man. I would've asked him a different question So I'll do a quick little intro and then I'll kind of share my notes from what I wrote down while he was presenting so intro his name is Jeff Hoffman and For those of you that don't know the name Like I didn't know the name before as soon as I say the name of the company you'll instantly go. okay No, know the company   The company is Priceline. So he is one of the founding members of Priceline. They started it and scaled it to many hundreds of billions of dollars.   This is some of the advice that he had shared with us in his Speech because I got to hear him get up and speak and present to the entire room. So The first thing that I wrote down I Don't know if he can be credited with saying this or if he was quoting someone else But he said it so I wrote it down because it resonated very much was ideas are welcome here But execution is worshiped   And I think that's really powerful because how many times do we all have this great idea, right? my God, I had this idea. my God, I had this idea. my God, we should do this. We should do that. What if we did this? There's no shortage of ideas. It's execution that's the hard part. It's turning an amazing idea into something and bringing that to life and bringing it to fruition. So I love it so much. That's good. Yeah.   too much attention a lot of times on the idea and the planning and all this stuff, but actually executing and actually getting something done, that's really all that matters. It doesn't matter. You can have a million ideas. If there's no execution, then who cares? So, okay. So I think my mom is a great example of this. Everyone, think mostly everyone knows Elf on the Shelf. So my mom, before Elf on the Shelf was a thing, she created it.   She just didn't do anything with it. She only used it like for me and my brother, but we had an elf that would come and visit and kind of keep an eye on us. And he would do fun things and he would pop around to different places in the house. So every time in the morning we would wake up and he would be in a different place or sometimes he would be doing like an activity. He'd be like baking or, you know, riding a bike or whatever. And it was so funny because when you look back on it, I went, mom, like,   that was off on the shelf and it's like multi-million dollar company. And she went, yeah, I wish I knew that. But she was just trying to do something fun for her kids. So she had taken that idea because it was, it was a great idea. And she executed on it, but she never brought it public. Can you imagine what would have happened if the execution was done on a larger scale? So she'll probably hate the fact that I'm calling her out on that. But I think that'll be her.   multi-million dollar missed story. Yeah. Yeah. So some of the questions that Jeff had asked when we're thinking about ideas, because we all have ideas. Some of them are good. Some of them are questionable. And some of them we can say like, yeah, that was a dud. So this is kind of a framework to take you through to figure out, is this worth executing on? One is.   Is this a problem? So you have to ask yourself, is this an actual problem? Like what you're doing, does this solve some sort of problem? And then bonus points if it's a big problem, right? So if we go back to the story of Priceline, many, many years ago, those kiosks that are in every airport that you can just check in on, you do not need to go and talk to a gate agent or a ticketing agent. They didn't used to exist.   You used to have to go stand in line and wait forever to get your ticket and your boarding pass and perhaps give somebody physically give somebody your bag and a lot of times people would miss their flight because the line was so so so long and you never knew ahead of time like is this gonna be a 10 minute line or is this gonna be a two hour line so people would miss their flight   And at one point, he turned around and he was in the airport, turned around, looked at the line and went, wow, this is such a crazy long line. And he decided, I'm going to start interviewing people right here and right now. And he went around asking people individually, how long have you been waiting? Wow, what happens if you miss your flight? Wow, what would you do? Would you think it would be valuable or beneficial if there was some sort of service where you didn't need to talk to the gate agent?   And people were bidding on it. They were bidding. They were like, I'll give you $10 if you can get me my ticket without talking to the gate agent. And then somebody else will go, no, forget $10. I'll give you $50 for that. And somebody else will go, oh, I must get there today. I will give you $70 to get there today. People were bidding on it in line. So he realized, one, there's a problem, but actually it's a big problem. So he knew he was on to something right there.   The second question is, is there a better way to do this? So is there a better way to check in for your flight than waiting in line and talking to a gate agent? Yeah, there sure is. It just hadn't been invented yet. But is that the best way to do it? No, absolutely not. So there was a better way to do something. And the third is, is there a value equation, which all that means is would somebody buy this?   And he knew that one, he had a problem and it was a big problem. Two, there was a better way to do it. And three, people would definitely pay for it because people were bidding on it while he was standing in line. People were like, wait, do you know something we don't know? Like, I will give you money if you can just get me on the front line because I need to get on this flight. So hence how Priceline was born. So those are three questions that you can kind of ask yourself. If you're going, okay, I have this idea, should I?   Should I do this? Should I act on it? Should I create something with this? Yeah. Seems pretty simple. think a lot of times we get really disconnected. you know, we study stuff, we learn stuff, we think we know, but when you actually go talk to your target audience and do a little bit of product research interview, you know, you can find out a lot of things that problems they have, things they need, and actually connect with, you know,   what you're wanting to sell them may not actually work. So yeah, I think that'd be super helpful. All right. So then he kind of gave tips on, well, if you are looking to seriously, massively scale a company because it's not, let's face it, not every company gets to a million, certainly not even to a billion and absolutely not to hundreds of billions of dollars. Right. So   These are tips that he had given the room in order to help you scale. And everyone thinks, you know, if I scale, I've got to do more. And actually you have to do less to be able to scale at that large of a size. he said, find your gold metal product or service. So for them, if you remember, if you would go on Priceline when it first launched, there was different tabs.   the top right you could book a flight you could book a hotel room you could book a cruise you could get a rental car you do a vacation package like they did all the things yeah and they were scaling but it wasn't to the size that they wanted to get to and they went okay if we only did one thing what would it be like what are we the best at the world at and for them it was hotel rooms so they said okay   It's not that we have to cut the other stuff. It's just that we're not going to market it. We're not going to advertise it. We're not going to talk about it. We're not going to put any money, time, or energy into that service. It's just there. But what we will do is we'll go all out on hotel rooms.   because they were the best in class at hotel rooms. So they didn't cut the other things out. Go on there now, you'll still see, but their bread and butter is hotel rooms. So the other things are still available. It's just that they never, if you look at any Priceline commercials, you'll never see anything other than hotel rooms. Why do think that is? Because they're marketing what they're the best in class at. So that is their top service.   Next is find your gold medal talent. So what was their gold medal talent? Any guesses? Don't cheat, don't lie. I know the answer because I was there. I don't know. I would imagine it's related to hotel rooms. So their gold medal talent are probably the best hotels. It was their algorithm. Okay.   for connecting people to hotels. So their algorithm was their talent. They had a talent in that. What is Amazon's? Shipping. Shipping. It's delivery. So if you remember, Amazon didn't start selling everything on the planet. It started as a book store. That's it. They only sold books. And what I didn't know is that when this whole internet   thing was blowing up. were three companies that were kind of becoming rising to the top all at the same time. It was Priceline with Jeff Hoffman and Partners. There was eBay. His name was Jeff and Pierre. Jeff and Pierre. And then there was Amazon. And that's Jeff Bezos. So somebody had asked him, what does it take to be successful in this internet thing? And he said, just find somebody.   who's a really good Jeff. They all had the best, they were the best in class at something and then they had the best in class at a specific talent. So Amazon, they got fantastic at shipping and they only did books. And Jeff Bezos said, you know, when we get, I'm only doing books right now. And then when we get to a certain size with books,   Then I want to branch out and then we'll do everything. But I don't want to do everything first right now. I just want to build our name and our reputation solely on books. Why? Because they were amazing at shipping. And now anytime that you buy something online, usually what's the first thought you think? Amazon probably has that. Why? Because you know they'll ship it. And then you need to shape your brand. That's the third piece of this.   you need to ask yourself what question are you the answer to? So for them, I need a hotel room. Where do I go? right, priceline. Or, they did a lot of this too, I want a $200 hotel room but I don't want to $200 on it, I only want to spend, you know, $100 or $80. Where do I go? Priceline. So shape your brand around that.   And then you've got to, in that arena, you've got to find your brand asset. So everyone goes, know, why should I work with you? I just watched a Jeremy Miner video, like at his live event, and he had a microphone and he went up to someone in the audience and he said, hey, why would someone work with you? I've seen these videos. And he let them answer. And he goes, mm-hmm.   Okay, and then he goes to the next audience answer and he goes, why would someone work with you? And he does it again and he goes, okay, so all of you guys really sound the same. You're in wildly different industries and companies, but you all sound the same. Yeah. Right? So you can't sound the same as everybody else and expect to stand out. So if you could only give one reason that somebody would work with you, what would that one reason be?   It's not about all the reasons, it's about the one reason and that shapes your brand. Yeah. Yeah. So I thought that was really good. If you aren't sure, you don't know, if you're like, I don't know, there's a lot of reasons why somebody wouldn't work with us. Ask your customers. Yeah, like why did they pick you? Why? What is the one reason? Don't just say why did they pick you because then they'll go, because of X, Y and Z. Great, was it X or was it Y or was it Z?   What is the one main reason that you decided to work with us? And do that ask 10 people. If you don't have 10 people, then keep selling until you can get 10 people. Because that data will tell you what is it that your customers have found in your messaging even though maybe you didn't do a great job at delivering it. So I thought that was really interesting. Yeah, that's good.   They talk about broadcasting versus what they call narrow casting So this is focusing on the right people not just any person Because for every product for every service for every brand There are the right people and Then there's everybody else So if you're trying to close every deal, it's almost like an impossible game Who do you target?   Will we target people? Everyone. People? Really? Who do you target? Well, I work with real estate investors. Well, geez, okay. There's only like hundreds of millions of those in the world. Which ones do you target? Yeah. Right? So some of this goes into our client-centric mission statement when we take our clients through their company culture stuff. But we want to get really, really clear on who are my people.   Not just who are people that could buy this. What are the right people to buy this? To work with me, to choose this, right? There's a difference. Right.   I mean, this makes sense. know, yeah, you got to really be specific because if you target everybody, you target nobody. Then then you're just more noise in the marketplace. So if you want to be, you know, like we're pretty niche at DoorGrow, we target long term residential property management companies in the U.S. Like that's our target audience that do third party property management. So that's our...   Do we get other types of clients? Sure, but that's our bread and butter. That's who we focus on and that's very specific. Those are the people we know we can help. And I'd say we're the best in the world at that. yeah. Right. So I think Sharan calls it a dog whistle. Right? Speak to your people and anyone who isn't your people, they won't hear it. It's not for you. Go ahead, I don't want you to hear it.   Just the dogs, Just the right ones. They'll hear it. Okay. This I liked a lot. He said, focus on your second slide customer. So find your yeses instead of overcoming nos. Every sales training in the world goes, let's overcome objections. Let's overcome no. Let's work a no into a yes. Let's see what we can do to turn it around. Overcome objections. No, don't overcome objections. Just find the yeses.   Second slide. Yeah, so you know when you have like a whole presentation prepared. Yeah, and The example he gave is he said he went out with one of his sales reps And there was like a 20 slide presentation that they that was like their pitch deck, right? so he spent the day with a sales guy and the first meeting they went to He got through all 20 slides and the woman was like, yeah, this sounds really good. I'm gonna think about it   I think we need to go back to you. like, yeah, yeah, like it wasn't a solid yes, because she didn't commit, she didn't sign up. But she was open to it. She's like, yeah, let me think about this. Like, let me take it up to management. We'll do something. So he got out of that meeting and he said to the sales rep, said, how do you think that went? Sales rep was super proud. He went, yeah, that was a great pitch. She's definitely going to buy. Like, she's going to come back around. Like, that's a deal that'll close. It's like in the pipelines.   about to close. Jeff said, yeah, I just didn't say anything. It's like, I just didn't say anything. I'm like, I'm not going to skew it. I just want the data, right? So he goes into another sales pitch, same sales rep. Slide two out of 20, two. They look at each other and went, oh my God, you're exactly what I needed. We're ready.   And the sales rep was like, well, wait, let me tell you more about the rest. And he's like nudging the guy. He's like, sign them up. They're ready. They don't need more information. They don't need anything else. They're ready to go right now. Stop trying to complete the pitch. It's done. You don't need the other 18 slides. They already said yes, and they said yes on slide two. Find your slide two yeses. Don't try.   to keep on going, don't try to turn the nose and do yes, don't overcome their objections, find your slide two customers. So what they actually did, this I thought was so interesting. This lit up my brain because I like data so Okay, I'm going to pause you. So nice little hook. Now we're going to go to our sponsor and then everyone can hear what you're about to Oh, that's so good. All right, so this episode is sponsored by Blanket.   So really like the team over at Blanket. Blanket is a property retention and growth platform that helps property managers stop losing doors, add more revenue, and increase the number of properties they manage. Wow your clients with a branded investor dashboard and an off-market marketplace while your team gets all the tools they need to identify owners at risk of churning and powerful systems to help you add more doors. So check it out, it's an amazing property retention platform.   Even if it's switching owner hands, you keep the property. So check out Blanket. what he did is he profiled people. know that sounds like nowadays we're elect. Don't profile that. No, profile our best customers who your best ones. Okay. That target audience. Who were your easiest sales? Who are your biggest fans?   Right? Figure out what do they have in common. They all have something in common, but what is it? So for them, they figured out that a rep that worked at the hotel chain that went, huh, we have all these extra hotel rooms. What do we do with them? Like, how do we sell them? That was their job. It's just to figure out how do we sell more rooms. Those were like his target audience. The reps that were brand new.   like one to two years on the job.   That was not it. Because they're so new that they're not willing to take a risk yet. So they were not very likely to close. It's not that they wouldn't close. not that you couldn't close them. It's that it wasn't like almost a guarantee to close them. Also, reps that have been in the job for like 15, 18, 20 years. Yeah. Also not it. Why? Because they know how to give a shit.   He's like, they're out the door, they're for the door, they're about to retire. They don't care. They don't care if they sell more hotel rooms. They just care that they keep their job until they can retire. So they're not, again, they're not almost practically guaranteed to close. So if you were in this bracket or in this bracket, he was like, yeah, it's not you. I'm not gonna target those people.   It's the people in between. It's the people that have been there for like three to, you know, somewhere between like that three to fifteen, three to fourteen years. Those people were amazing because they're not afraid to speak their opinion. They're looking to kind of make a name for themselves at this point. And they're not afraid to take a risk. But they are looking to do something big. Those were his people. How do think you figured that out?   as he profiled his best customers again and again and again. And you went, huh, look at that. The new ones, they don't do it. The old ones, they don't do it either. It's only this slot in the middle. And those, those are our people. Got it. I like that. Yeah, right? Makes me think, like, with our clients, who is almost always a guarantee to close? That's the profile of the target. Yeah. That's exactly what you want to do, because you want to profile the ones.   It's like a shoe in. If I didn't close this, it would be insane. Right? They even took it a step further. actually created a 100 points scoring chart. Yeah. And there were different questions. One of the questions was that one, for example, like how long have you been with your company? So if you're like one to two years, he would give them like negative 20 points. yeah. Right? So now it's like, your score just went down. now you answered this way. Your score went down again. Your score went down again.   Same thing with those, you know, the older ones. They would be like a negative 40 though, because they really didn't care. It's easier to close the newer ones than it is the older ones. So like, oh, I've been here 18 years. He's like, cool, negative 40 points. In the middle though, he might go, okay, there's like 25 points. Maybe there's 15 points. They just scored 15. Now what else? So you have to ask these questions and what his team got so good at doing once they implemented this hundred   100 point score sheet is They can ask a couple questions do the math in their head and then immediately decide is this worth my time? So if you knew you were talking to a 40 Go to lunch It's not you're not gonna close it. It's a 40 out of a hundred like go home That's it. But when you would get your 80s when you get your 90s, you'd be really excited. Yeah. Oh man. Okay. Let me invest in this   So they created this whole scoring chart. I thought that was so brilliant. Yeah. I mean, that's pretty standard feature in a lot of CRMs is lead scoring. coming up with a rubric or an algorithm for scoring your leads can be pretty significant. So yeah, it's a difficult thing to figure out, though. You've got to really know why which customers are good. So you can kind of figure out how do I score someone to duplicate these people. Right. Yeah. So good.   And this is probably something that will help you figure out how to score people and what questions to ask and what do they all have in common. He said, spend a day in the life of your customers and do it often. So the story that he told us, there was a company that when it launched, he knew the guy. He was having a conversation with him and he said, Hey, why did you launch your company the way that you did?   when every single market expert said it wouldn't work and you did it anyway and it worked and it was wildly successful but what made you go no I'm gonna do it anyway and the answer was well that's easy I didn't even ask the market experts so I didn't know that they didn't think that it wouldn't work because I didn't bother asking the market experts Jeff said well what did you do?   He said, well, I asked my audience. Sure. I asked my customers. That's it. He said, OK, well, how did you do that? So in this little town, across the bridge on like the less nice side of town.   The owner of this company, and I'll tell you the company in a minute, but the owner of this company, he would be in his office with his team all day. His team had MBAs, they were finance executives, they were accountants, right? Not, not his target audience. So he would get changed into jeans and a flannel shirt and a John Deere hat. He would go across the bridge to the bad side of town.   and would sit in a diner all day long. Every Friday he would do this. And he would just talk with people who would come in there. He would just make friends with them. He would chit chat. He would ask them questions. And he would just gather data. And he used that data for his lunch. Do you have any guesses? Did I tell you? I think I told you this story. You probably did. Do guesses on who it was? Uh, no. Walmart. Oh.   Sam Walton. Yeah, so this was Walmart. Okay. Every single expert said that will never work. And he said, yeah, I don't need to listen to experts. I need to listen to my customers. Right. Because the customers are going to tell you what they want. Yeah, they're the ones buying. So they know. So it doesn't matter what experts say. It matters what the customer says. Yeah, absolutely.   It was so good, right? And he really, he got to know these people. So it doesn't matter what the market says. It doesn't matter what the expert says. It matters what your customers say. If your customers are going to tell you what they want, you shall listen. And now you'll have a successful product, regardless of what the experts say. The experts don't understand everything like your customers do. Listen to what they're telling you.   So if you just get that data that allows you to do things that even other people would say, you're crazy, don't do that. And he didn't think it was crazy. He was like, no, I just, they're telling me what they want. I'm just going to do that. And he did. And it's still around today. Huge brand. Sometimes customers don't tell you what they want, but if you are connected with them enough, you can see what they're having problems with and what they're struggling with. And sometimes they just,   think that that's normal. They're just like, yeah, this is, hiring's hard, you know? And then I'm like, cool, we built a hiring system that solves this problem, right? And so, but a lot of people just kind of say, yeah, it's, you know, it is what it is. And they don't really think that it's a solvable problem sometimes. So that's, that's where I think, you know, you need to ask your customer, but you also need to, sometimes your customers are wrong. Like they don't know. And you have to be able to be creative enough to figure out what.   would they want if it was, you know, if they recognize this problem. And then sometimes you have to sell them, you attract, it's like we attract a lot of people at DoorGrow that think they want leads and they think they want digital marketing and they think they want SEO. And then we have to guide them towards what they actually need and sell them what they actually need, which is totally different. Yeah. So that's, that's, that can be a challenge. Maybe we'd be smarter if we just sold them what they were asking for, but.   they wouldn't get as great of results. Yeah, I feel like though, I personally, I just don't feel good about doing it. Yeah. Because to me, that's just a money taker, right? Right. That's an order taker, that's a money taker. That's like, hey, I really need to grow my business and like, I think this will work. And then that's like, yeah, give me your money. sell you that. just give you a whole bunch of leads. And months go by and...   Well, how come my business didn't grow? I only closed like four deals. Well, I just don't, I don't think I can really get behind that with integrity. Yeah. Yeah. It's not exciting to me. I know there are companies out there that will, and especially now with AI, like just be super careful with SEO. Be like extra careful at this point with SEO because SEO is literally dying.   Like thing. Yeah, the whole game's changed. With AI. The whole game's changed. More people are using chat GPT than Google. It's been a huge disruptor. It's such a big disruptor that the antitrust lawsuit against Google has dropped.   I mean that's massive. for those that don't know, just sum it up, the antitrust lawsuit. Well, Google was being sued because they had almost no competition. They dominated the search market like nobody could compete. And the closest competitor was like a small fraction. And so the government was going after them with an antitrust lawsuit. And then ChatGPT broke. All these AI tools and platforms came out. And now Google is no longer viewed as   viable you know threat of a monopoly yeah and they may be losing this whole AI race which is super wild right yeah they're fighting they've got their AI tool all over the place Gemini is pretty good it's really good for a lot of things but it's not winning   Yeah, yeah. yeah, with like, chat GPT was something nobody knew that could happen. Like we didn't even realize this was something we all wanted. We all wanted like some almost genius thing that we could talk to all the time to get all sorts of information. Yeah, quickly without having to dig and try and do our own research. So, well. Okay, we'll go one more story and then I've got a closing quote.   So I think we all know at this point the brand 1-800 flowers they're huge now So before they used to be huge because they weren't always Jeff went out to go visit one of their shops And everywhere everywhere in the shop they had posters printed up like slopped on the walls every wall   in every room, in the hallways, in the bathroom, in the garage, in every single room. And it was just printed up on the walls, sell more flowers. Why? Because that is what we're all about. That is the only thing that we care about is selling more flowers. We don't care about anything else.   We are only here to sell more flowers. And every single person in this company exists for one reason and one reason only and that is to sell more flowers. So every single person, every single minute of every single day needs to be thinking, how can I sell more flowers? So it doesn't matter what their role was in the business, they need to be thinking, how can I sell more flowers? So he's walking down the hall and there was an admin.   She did a lot of paperwork, answering the phones, things like that. She's got this huge stack of papers and she's walking down the hall with a stack of papers. And the owner says, hey, whatever her name is, Susan, hey Susan. And he points up to the wall and he goes, what are you doing right now? And she goes.   puts the paperwork down, turns around, walks away. And Jeff said, well, what on was that? And he said, if you're not, we have a rule, if you are not doing something, that can somehow be connected to how does it help us sow more flowers? My rule is you do not do it. Ever. So whatever she was doing, clearly, was not connected to sow more flowers. So therefore, I reminded her, sow more flowers.   And she stopped, promptly, what she was doing and went back to what she should be doing, which is sell more flowers. So they continue on this tour. They get back into the back of the shop, into the garage where they've got their van for deliveries. And they have a mechanic. The mechanic is underneath, one inch away. And he goes, hey. He goes, watch this. He goes, hey, Joe.   He points at the wall. He goes, what are you doing right now? And Joe says, oh, well, I was installing this new filter on all of our vans because this new filter, it saves us X money dollars in gasoline per tank. I think it was $8. So we save with this new filter. We actually save like $8.   per tank of gasoline. So I'm going to install each of the filters on our vans. And then what I'm going to do is I'm going to go inside and tell marketing to print up some coupons for $8 off.   of a bouquet of flowers and we're going to run that as a promo because if we just saved eight dollars that means we have eight dollars extra so we might as run a promo and that'll help us sell more flowers. And he goes, yeah, it's brilliant. Do that. So the mechanic is thinking all day every day how do I sell more flowers? Now would a mechanic generally be thinking about selling flowers? No.   He'd be thinking, how do I wrench on this? How do I fix that? What about the oil change? What about the tires? What about the spark plugs and the brakes? He's not thinking about selling flowers. But it wasn't lost on him because all day, every day, he's staring at a big sign that says, sell more flowers. So it doesn't matter what you are doing. If it's not connected to helping us sell more flowers, what you're doing does not fricking matter. This goes along with a book called The Goal by Elihu Goldratt. And The Goal, spoiler for everybody that wants to read this.   operational book is to make money. And so a lot of times we get caught up in creating systems, inventory, things that actually cause waste or over optimizing each individual department or each individual step, but it actually reduces the overall goal of optimizing for selling more flowers, for example, or making more money. And so sometimes   team members standing around doing nothing is more effective than them building more widgets for the next step because it just creates more waste or more inventory or like constraint. And so that's the idea is the goal is to eliminate all the constraints to create momentum so that you get that that money coming in and everybody should be focused on that goal because it's very easy to get caught up and like he could be super caught up and I'm gonna make the cars run hyper effective and efficiently but   Maybe that just causes more financial spend or maybe that doesn't help them sell more flowers, for example. And so when everybody understands the overall goal and how they fit into that puzzle, then instead of just focusing on, I did my job or I'm doing this, they're focused on, is this helping the goal? And so I love that. I love that idea. And I think that's super important to get everybody on the team to focus on. Cause a lot of times everything's siloed. They focus on their little department.   They focus on their little role and they forget the overall goal of the company is to make money. Right. So even like your property managers, your leasing agents, your operator, like everybody who's on what I would call like back end, they have the same job, which is to get more properties to manage. So even if you're not in sales, it doesn't matter. Salespeople, it's very obvious the connection.   It's like, yeah, so close more contracts and close more deals and then I have more properties, duh. Great, but how does that apply to your leasing agent? How does that apply to your property manager? How does that apply to your receptionist who's answering the phone? How does that apply to your AI tool? So everybody and everything is aligned with the one goal of the business, which is I don't care what we do unless...   we sell more flowers. I don't care what we do. don't care. There is no point in changing the tires if it doesn't help us sell more flowers. Right? So I don't need to hear just for that thing. If we don't sell more flowers, I don't need to change the tires. So they've got to be connected. And that was a great example of how somebody even so far removed from the back end of the business. He's like,   Back end of the back end is the mechanic. And he's still focused on top-lingle. Yeah. Yeah. I mean, if you talk to your team and you ask them, what are you doing? And you had to sign up the set, like, you know, get more property management clients. A lot of you aren't focused on that. A lot of them are like, well, I'm just talking to every tenant all the time. I'm talking to every owner all the time. Is that helping the goal of you getting more clients? No, a lot of things aren't.   Is it helping keep clients? Cool. That is part of getting more clients, is keeping the clients. But yeah, if it's not related to keeping clients or getting more clients, managing more properties, then there's a lot of bloat and a lot of waste in property management companies. We see it all the time. So much. Yeah. And we're really good at helping you see it. So if you want to make more money and you've got a decent number of doors, you've got 200 plus doors, come talk to us.   Our program will be paid for, but probably just the first stuff we help you with in the first month. It's a no-brainer. Okay. Okay, then I'll close it out with this. Okay. He said, as a quote, don't chase money, chase excellence, because excellence follows money. I like it. Yeah, right? It's okay. Because a lot of that's people want. They're like, I just want to make enough money. I want to make more money. It won't matter if you're not excellent at what you do. Yeah.   Yeah, well cool. Well, those of you listening, if you have felt stuck, stagnant, want to take your property management business to the next level, reach out to us at doorgrow.com. Also join our free Facebook community just for property management business owners at doorgrowclub.com. And if you want tips, tricks, ideas to learn about and to learn about our offers in DoorGrow, subscribe to our newsletter by going to doorgrow.com slash subscribe. And if you found this even a little bit helpful,   Don't forget to subscribe and leave us a review on whatever channel you found this on. We'd really appreciate it. And until next time, remember, the slowest path to growth is to do it alone. So let's grow together. Bye everyone.  

Glenbard East senior Sam Walton got a late start to football, but the two-way starter has grown into a disruptive force on the defensive line as the Rams prepare for a Week 9 showdown with Riverside-Brookfield for the Upstate Eight East title. That and more in Bob Narang's notes.Become a supporter of this podcast: https://www.spreaker.com/podcast/friday-night-drive--3534096/support.

Glenbard East senior Sam Walton got a late start to football, but the two-way starter has grown into a disruptive force on the defensive line as the Rams prepare for a Week 9 showdown with Riverside-Brookfield for the Upstate Eight East title. That and more in Bob Narang's notes.Become a supporter of this podcast: https://www.spreaker.com/podcast/friday-night-drive--3534096/support.

Send us a textWe share a six-book reading stack and explain why switching between genres—biography, classic epic, mystery, gothic, and marketing—makes ideas stick. We show how fast first reads, slow second reads, and simple note-taking turn reading into a useful habit.• six-book list from Lucas to Homer to Hopkins• how the chapter-by-chapter “buffet” system works• why second reads deepen insight and recall• Daniel Pink's note-taking approach we use  https://youtu.be/vhZ6QAYlA_g?si=6d9GU0e3sWRZW1iq• parallels between Appointment with Death and Mexican Gothic• book recs from David Senra's Founders podcast  https://open.spotify.com/show/7txiovdzPARhjm18NwMUYj?si=469d2cf689e2472e• new arrivals: Sam Walton https://www.amazon.com/dp/0553562835?ref=ppx_yo2ov_dt_b_fed_asin_title Ogilvy on Advertising  https://www.amazon.com/dp/039472903X?ref=ppx_yo2ov_dt_b_fed_asin_title • invite for listener book feedback via emailPlease like, subscribe, share, tell your friends and family about the podcastIf you've read any of these books, send me an email: scott@scottownsend.infoSupport the showI ♥ my podcast host @Buzzsprout. This link will get us both a $20 credit if you upgrade! https://www.buzzsprout.com/?referrer_id=1087190 The Scott Townsend Show Merchandise https://teespring.com/stores/tsts-2Resources and Links--------------------------------------------My contact info:LinkedIn https://bit.ly/2ZZ4qweTwitter https://bit.ly/3enLDQaFacebook https://bit.ly/2Od4ItOInstagram https://bit.ly/2ClncWlSend me a text: 918-397-0327Executive Producer: Ben TownsendCreative Consultant: Matthew Blue TownsendShot with a 1080P Webcam with Microphone, https://amzn.to/32gfgAuSamson Technologies Q2U USB/XLR Dynamic Microphone Recording and Podcasting Pack https://amzn.to/3TIbACeVoice Actor: Britney McCulloughLogo by Angie Jordan https://blog.angiejordan.com/contact/Theme Song by Androzguitar https://www.fiverr.com/inbox/androzguitar

Download Gary's 13 Keys to Creating a Multi-Million Dollar Business from https://www.DitchDiggerCEO.com/Dave Bolotsky (@UncommonGoods) is the founder and CEO of Uncommon Goods, a pioneering online marketplace known for its handcrafted, ethically made products and its people-first business model. A former Goldman Sachs retail analyst who traded spreadsheets for storytelling, Dave built Uncommon Goods from his New York apartment into one of the most values-driven eCommerce companies in America.In this conversation with Gary Rabine, Dave shares the lessons he learned from icons like Sam Walton and Bernie Marcus, how he survived the dot-com crash, and why he believes business can — and must — be both profitable and purposeful.In this episode, Gary and Dave discuss:Building a business from the ground up with grit, values, and zero outside fundingHow to lead through crisis — and why firing people taught him his most powerful leadership lessonThe culture of ownership: why Dave meets every new hire and gives employees a stake in successCompeting with Amazon through creativity, relationships, and exclusivityThe enduring impact of purpose-driven leadership and “shared prosperity”LinkedIn: https://www.linkedin.com/in/dave-bolotsky/  Website: https://www.uncommongoods.com/  Facebook: https://www.facebook.com/uncommongoods/  X: https://x.com/uncommongoods Connect with Gary Rabine and DDCEO on: Website: https://www.DitchDiggerCEO.com/ Instagram: https://www.instagram.com/DitchDiggerCEOTikTok: https://www.tiktok.com/@ditchdiggerceopodcast Facebook: https://www.facebook.com/DitchDiggerCEOTwitter: https://twitter.com/DitchDiggerCEO YouTube: https://www.youtube.com/@ditchdiggerceo

Mohnish Pabrai's Interview session with Steven Bartlett at The Diary of a CEO on July 13, 2025.                                                         (00:00:26) - Cloning as a mental model; Bill Gates and Sam Walton (00:05:11) - Entrepreneurs do not take risk (00:09:23) - Focus on offering gaps  (00:13:11) - Understand customer requirement; Google Glass vs. Meta (00:16:20) - Make your business cost-effective; Walmart & LVMH (00:18:24) - Getting your music out; Bill Gates & Paul Allen (00:21:40) - Find the calling in your life (00:23:54) - My Owner's Manual (00:29:04) - Capital investment in start-ups; Sir Richard Branson (00:36:59) - Successfully reaching out to stakeholders (00:41:16) - My family startups in the childhood; Cold calling (00:46:21) - Adam Grant: Givers, takers and matchers (00:48:26) - Recruiting the right people; Elon Musk & Steve Jobs (00:50:43) - Fire fast, Hire slow (00:51:54) - The three pillars of investing (00:53:01) - Sale of Manhattan by Indians in 1623 & Rule of 72 (00:58:07) - Rules of investing; Saving the first dollar; Index investing (01:01:52) - The Dhandho Investor; Minimising risk with intact returns (01:06:20) - Heads I win, Tails I don't lose too much (01:07:15) - Offering gaps (01:11:30) - Business moat (01:12:29) - Apple (01:14:07) - Traits of great founders; IKEA (01:16:49) - Fewer, bigger and infrequent bets; Venture businesses vs. Stock markets (01:19:07) - Day trade (01:19:34) - Circle the wagons (01:22:00) - Learning from mistakes; Fiat Chrysler's Ferrari (01:24:31) - Golf The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser. Views expressed on Chai with Pabrai are exclusively those of Mohnish Pabrai and not of any affiliated firm or organization.

What did you think of John D Rockefeller, Henry Ford, Howard Hughes, Sam Walton and Hetty Green?These five titans of American industry include an oil tycoon, a motor magnate, an eccentric aviator, the founder of Walmart, and an unsung pioneer of value investment known as the ‘Witch of Wall Street'. They helped shape business in the United States, but were they good, bad, or just billionaires?In Good Bad Dead Billionaire, BBC business editor Simon Jack and journalist Zing Tsjeng share their stories. Now we bring your verdicts in messages from across the world, including from Zambia, Ireland, Nigeria, Germany, the UK and Australia.Good Bad Billionaire is the podcast that explores the lives of the super-rich and famous, tracking their wealth, philanthropy, business ethics and success. There are leaders who made their money in Silicon Valley, on Wall Street and in high street fashion. From iconic celebrities and CEOs to titans of technology, the podcast unravels tales of fortune, power, economics, ambition and moral responsibility.To contact the team, email goodbadbillionaire@bbc.com or send a text or WhatsApp to +1 (917) 686-1176. Find out more about the show and read our privacy notice at www.bbcworldservice.com/goodbadbillionaire.

Sol Price is the most influential retailer you've never heard of. A man who never sought the spotlight, but whose legacy and lessons cover the entire landscape of modern retail. Have you ever wondered why you can still buy a hot dog and soda for $1.50 today at Costco? We can thank Sol Price for that. To him, keeping promises to customers mattered more than profit margins. Sam Walton said he borrowed more ideas from Sol Price than anyone else. Jim Sinegal of Costco said, “I didn't learn a lot from Sol. I learned everything.” Jeff Bezos studied him. Home Depot echoed him.  He invented the warehouse club, pioneered membership retail and built two multi-billion-dollar companies. The real lessons aren't about what he built, but how he did it.  This is the story of how a lawyer with no retail experience created an industry, mentored his competition, and proved that nice guys don't always finish last. ------ Approximate Timestamps: (00:00) Introduction (02:01) Early Years (08:29) Starting FedMart (28:33) Price Club (36:19) When Students Surpass the Teacher (42:09) The Teacher's Last Lesson (43:46) Reflections And Lessons ------ Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it's completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠@ShaneAParrish⁠⁠ Insta ⁠⁠@farnamstreet⁠⁠⁠⁠LinkedIn⁠⁠ ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Experience the newest jewel of Northwest Arkansas hospitality at the AC Hotel Bentonville. This European-inspired hotel is conveniently located at the entrance to Walmart's new Home Office campus, making it a must-visit for travelers and locals alike. The hotel uniquely blends modern design with local heritage, paying homage to Sam Walton on the rooftop at the  Falfurrias lounge. This space showcases authentic artifacts like Mr. Sam's hunting vest and offers stunning sunset views with handcrafted cocktails and chef-inspired dishes.The European influence extends beyond the aesthetics to the culinary experience. The hotel's breakfast features imported croissants and prosciutto freshly carved on a traditional slicer. At the AC Lounge, you can enjoy exclusive cocktails, including a smoked old-fashioned prepared tableside. The hotel fosters a vibrant community atmosphere with regular events like live jazz and trivia nights, creating a lively space where connections happen naturally.Whether you're visiting for business, art exploration, or mountain biking, the AC Hotel Bentonville is perfectly equipped for today's sophisticated traveler. The property offers amenities like indoor bike storage, direct trail access, EV charging stations, and a transfer lounge for early arrivals. Steps from the Momentary and a short walk to the downtown Square, it's ideally situated to experience everything that makes Bentonville special. Follow @achotelbentonville on social media to stay updated on events and offerings, or simply stop by Falfurrias to experience this exciting addition to the Bentonville scene.A New American Town is here to help you plan your trip to Bentonville, Arkansas. From guides, events, and restaurant highlights. Find all this and more at visitbentonville.com and subscribe to our newsletter. Follow us on Facebook, Instagram, TikTok, X, and LinkedIn. You can listen to this podcast on Apple Podcasts, Overcast, Spotify, CastBox, Podcast Casts, Google Podcasts, iHeartRadio, and Podcast Addict.

Sam Walton put discount megastores on the map and built the largest retailer on Earth. He founded Walmart, which now has around 10,500 stores across 19 countries, and 255 million customers a week, thanks to their low prices. They also employ more than two million workers.BBC business editor Simon Jack and journalist Zing Tsjeng explore Sam's penchant for piloting his small plane to drop in, unannounced, on his stores around the USA, and discover why he danced the Hula on Wall Street, covered in leis and wearing a Hawaiian shirt. In this special series, Good Bad Dead Billionaire, find out how five of the world's most famous dead billionaires made their money. These iconic pioneers who helped shape America may be long gone, but their fingerprints are all over modern industry - in business trusts, IPOs, and mass production. They did it all first, but how did they make their billions?Good Bad Billionaire is the podcast exploring the lives of the super-rich and famous, tracking their wealth, philanthropy, business ethics and success. There are leaders who made their money in Silicon Valley, on Wall Street and in high street fashion. From iconic celebrities and CEOs to titans of technology, the podcast unravels tales of fortune, power, economics, ambition and moral responsibility, before inviting you to make up your own mind: are they good, bad or just another billionaire?

Dime qué piensas del episodio.Víctor Almeida, presidente y director general de Interceramic, una de las empresas más icónicas de México con presencia internacional en más de 20 países. Víctor asumió la presidencia de la empresa a los 23 años, en plena crisis de 1982, y desde entonces ha liderado la compañía a través de múltiples ciclos de crecimiento, transformación y hasta tres crisis que él mismo llama “quiebras”. Victor ha sido pionero en innovación dentro de una industria tradicional: desde campañas en televisión hasta modelos únicos de franquicia.Hoy Victor y yo hablamos de disciplina militar, del poder del positivismo, de lecciones de Sam Walton, de cómo tener éxito con socios chinos y del rol de los empresarios en la política.Sigue Cracks Podcast en YouTube aquí."Si no tienes convicción, no puedes liderar. Punto."- Victor AlmeidaComparte esta frase en TwitterEste episodio es presentado por Diri Movil la compañía de telefonía que te permite tener 2 líneas en un solo plan y por Salesforce, el CRM de IA número uno en el mundo y su nueva solución, Agentforce.Qué puedes aprender hoyEl error como maestroConvicción como base del liderazgoEl peligro del ego*Este episodio es presentado por Diri Móvil, Este episodio es presentado por DIRI MÓVIL, la primera telefonía en México que te permite tener dos líneas activas al mismo tiempo en un solo plan.Puedes tener una línea para tu negocio y otra personal, o simplemente sumar una más sin cambiar la que ya usas.Esto es posible gracias a su tecnología DUA: una segunda eSIM que opera en una red distinta a la principal.Así puedes usar dos WhatsApps, separar tus mundos, y manejar todo desde un solo teléfono, de forma práctica e intuitiva y tener 24 gigas en tu línea principal y 10 gigas en la secundaria por $339 pesos al mes.Y lo mejor: puedes probarlo gratis por 7 días con una eSIM de prueba en www.diri.mx/cracks. Además, si portas tu número este verano, recibes triple de gigas por un año.*Este episodio es presentado por Salesforce, el CRM de IA número uno en el mundo.Su nueva solución, Agentforce, no es simplemente un asistente digital. Es una suite de agentes autónomos diseñada para trabajar codo a codo con los equipos humanos, combinando datos unificados y capacidades avanzadas de IA para llevar a cabo tareas de forma autónoma o colaborar con los empleados en tiempo real. Salesforce integra todos tus datos en un solo ecosistema de IA. Los agentes de Agentforce pueden analizar y actuar sobre la información de cada cliente de manera segura y confiable, transformando cada rol y flujo de trabajo para alcanzar una escala operativa sin precedentes.Revoluciona tu negocio con Salesforce en cracks.la/agentforce Ve el episodio en Youtube

In this candid and energizing conversation, Justin Maines sits down with Tom Quinn—retiring President of Cole's Quality Foods and the man behind the rise of frozen garlic bread. With over four decades in the food industry, Tom shares the real story behind scaling a small-town bakery into a national powerhouse, why cutting $10 million in products actually doubled their revenue, and how relentless focus, operational efficiency, and integrity shaped his leadership.From mentoring under giants like Sam Walton and Kellogg's CEO William LaMothe to laying it all on the line in a company turnaround, Tom gets real about legacy, leadership, and the values that last. If you're in business, sales, or just love a good founder story—this one delivers.The Logistics & Leadership Podcast, powered by Veritas Logistics, redefines logistics and personal growth. Hosted by industry veterans and supply chain leaders Brian Hastings and Justin Maines, it shares their journey from humble beginnings to a $50 million company. Discover invaluable lessons in logistics, mental toughness, and embracing the entrepreneurial spirit. The show delves into personal and professional development, routine, and the power of betting on oneself. From inspiring stories to practical insights, this podcast is a must for aspiring entrepreneurs, logistics professionals, and anyone seeking to push limits and achieve success.Timestamps:(00:07) – Financial Strategy and Impact(01:13) – The Rise of Cole's Quality Foods(17:28) – The Importance of Mentorship in Business(31:31) – Navigating Relationships in Transportation(44:51) – Transitioning Legacies and New BeginningsConnect with Tom Quinn:LinkedIn: https://www.linkedin.com/in/tom-quinn-a0167a1Connect with us! ▶️ Website | LinkedIn | Brian's LinkedIn | Justin's LinkedIn▶️ Get our newsletter for more logistics insights▶️ Send us your questions!! ask@go-veritas.comWatch the pod on: YouTube

We're back – but with a difference! Find out how some of the world's most famous dead billionaires made their money. Meet five billionaires who helped build the United States of America. First up: oil tycoon John D Rockefeller, the world's first billionaire. Simon Jack and Zing Tsjeng also revisit the lives of motor magnate Henry Ford, the aviator and filmmaker Howard Hughes, Walmart founder Sam Walton, and Hetty Green - once dubbed “The Witch of Wall Street”. These iconic billionaires may be dead, but their fingerprints are everywhere in modern industry - in business trusts, IPOs, and mass production. They did it all first, but how did they make their billions? Season 4 of Good Bad Dead billionaire starts on Monday 7 July 2025. And this season, we really want to know what you think - are they good, bad, or just another billionaire? Email goodbadbillionaire@bbc.co.uk or send a voice message or text to 001 917 686 1176. Don't forget to leave your name. We might read your comments out.

The Rich Zeoli Show- Hour 2: 4:05pm- Breaking News: The House of Representatives has passed a recissions package that will claw back billions of dollars in federal funding to NPR and PBS. The package will now head to the Senate. 4:15pm- Who is funding the left's “No Kings” protests? Walmart heiress Christy Walton—the widow of John T. Walton, son of Walmart founder Sam Walton—funded a full-page advertisement in The New York Times promoting a nationwide protest against President Donald Trump's Flag Day celebration in Washington D.C. The New York Post notes that Christy Walton has no role in Walmart's operations but has a net worth of over $19 billion. Rich notes that it's important to remember Walmart and its employees have played absolutely no part in this—and shouldn't be financially punished via a boycott for an heiress's far-left ideology. 4:40pm- The No Kings protest is expected to occur in numerous cities across the country this Saturday—including Philadelphia. Will District Attorney Larry Krasner prosecute protesters that turn violent? Nope!

The Rich Zeoli Show- Full Episode (06/12/2025): 3:05pm- On Thursday, President Donald Trump signed joint Congressional resolutions which will block California from enacting its ban on gasoline-powered vehicles by 2035—revoking a federal waiver allowing states to set their own tailpipe emissions standards under the Clean Air Act. Unsurprisingly, Gov. Gavin Newsom (D-CA) immediately released a statement announcing California will legally challenge the resolutions: “We are suing to stop this latest illegal action by a President who is a wholly-owned subsidiary of big polluters.” 3:15pm- Want to see the most deranged protester in all of Los Angeles? I think we have found her! The woman—who is carrying a leaf blower—vociferously proclaims that Los Angeles belongs to Mexico and tells Donald Trump to suck a body part that women don't have! Plus, she says that Trump is only interested in deporting illegal migrants so that he can get revenge on Selma Hayek—who she claims rejected Trump's romantic advances. 3:20pm- During a news conference on Thursday, Department of Homeland Security Secretary Kristi Noem was berated by Sen. Alex Padilla as she attempted to highlight the Trump Administration's removal of dangerous criminals residing in the U.S. unlawfully. Padilla was so disruptive that he needed to be escorted out of the room by security. 3:45pm- Sen. Dave McCormick—United States Senator from Pennsylvania—joins The Rich Zeoli Show to discuss Amazon investing $20 billion in rural Pennsylvania for AI infrastructure, anti-ICE riots in Los Angeles, and the One Big Beautiful Bill Act. 4:05pm- Breaking News: The House of Representatives has passed a recissions package that will claw back billions of dollars in federal funding to NPR and PBS. The package will now head to the Senate. 4:15pm- Who is funding the left's “No Kings” protests? Walmart heiress Christy Walton—the widow of John T. Walton, son of Walmart founder Sam Walton—funded a full-page advertisement in The New York Times promoting a nationwide protest against President Donald Trump's Flag Day celebration in Washington D.C. The New York Post notes that Christy Walton has no role in Walmart's operations but has a net worth of over $19 billion. Rich notes that it's important to remember Walmart and its employees have played absolutely no part in this—and shouldn't be financially punished via a boycott for an heiress's far-left ideology. 4:40pm- The No Kings protest is expected to occur in numerous cities across the country this Saturday—including Philadelphia. Will District Attorney Larry Krasner prosecute protesters that turn violent? Nope! 5:05pm- Frannie Block—Reporter for The Free Press—joins The Rich Zeoli Show to discuss her latest article, “Reading, Writing, and Racism: The Three R's of Philly Public Schools.” You can read the full article here: https://www.thefp.com/p/philadelphia-radical-curriculum-racism-israel. 5:20pm- The No Kings protest is expected to occur in numerous cities across the country this Saturday—including Philadelphia. Will District Attorney Larry Krasner prosecute protesters that turn violent? Nope! During a press conference on Thursday, Krasner shamelessly compared President Donald Trump to Adolf Hitler. 5:40pm- During a news conference on Thursday, Department of Homeland Security Secretary Kristi Noem was berated by Sen. Alex Padilla as she attempted to highlight the Trump Administration's removal of dangerous criminals residing in the U.S. unlawfully. Padilla was so disruptive that he needed to be escorted out of the room by security. 5:45pm- What are Matt's top 3 favorite Martin Scorsese films of all time? Rich and Justin are disgusted by the list…but, sadly, not surprised. 6:05pm- Daniel Turner— Founder and Executive Director of Power the Future—joins The Rich Zeoli Show to discuss President Donald Trump signing joint Congressional resolutions which will block California from enacting its ban on gasoline-powered vehicles by 2035. ...

“Being an analyst is the best job in the world,” says Greg Wendt, who happens to be the longest-serving analyst in Capital Group history. Wendt, who is about to wrap up a 37-year career, shares tales from his time venturing into the wild world of small-cap stocks, leveraging his college job at a department store into an interview with Sam Walton, legendary founder of Walmart, and helping launch Capital Group's first-ever small-cap strategy. He explains how on-the-ground research can reveal a company's competitive edge, and how business leaders can win with passion and a focus on the details. For those needing a reminder of how investing can be fun as well as fruitful, this episode is for you.  #CapGroupGlobal     For full disclosures go to capitalgroup.com/global-disclosures    For our latest insights, practice management ideas and more, subscribe to Capital Ideas at getcapitalideas.com. If you're based outside of the U.S., visit capitalgroup.com for Capital Group insights.    Watch our latest podcast, Conversations with Mike Gitlin, on YouTube: https://www.youtube.com/playlist?list=PLbKcvAV87057bIfkbTAp-dgqaLEwa9GHi     This content is published by Capital Client Group, Inc.     U.K. investors can view a glossary of technical terms here: https://www.capitalgroup.com/individual-investors/gb/en/resources/how-to-invest/glossary.html   To stay informed, follow us    LinkedIn: https://www.linkedin.com/company/capital-group/posts/?feedView=all     YouTube: https://www.youtube.com/@CapitalGroup/videos     Follow Mike Gitlin: https://www.linkedin.com/in/mikegitlin/    About Capital Group    Capital Group was established in 1931 in Los Angeles, California, with the mission to improve people's lives through successful investing. With our clients at the core of everything we do, we offer carefully researched products and services to help them achieve their financial goals.    Learn more: capitalgroup.com   Join us: capitalgroup.com/about-us/careers.html    Copyright ©2025 Capital Group

When Tamara Mellon's father lent her the seed money to start a high-end shoe company, he cautioned her: “Don't let the accountants run your business.” Little did he know that over the next fifteen years, the struggle between “financial” and “creative” would become one of the central themes as Mellon's business.Mellon grew Jimmy Choo into a billion dollar brand and her personal glamour made her an object of global media fascination. Vogue photographed her wedding. Vanity Fair covered her divorce and the criminal trial that followed. The Wall Street Journal reported on her relentless battle between “the suits” and “the creatives" and Mellon's triumph against a brutally hostile takeover attempt.But despite her eventual fame and fortune, Mellon didn't have an easy road to success. Her early life was marked by a tumultuous and broken family life, battles with anxiety and depression, and a stint in rehab. Determined not to end up unemployed, penniless, and living in her parents' basement under the control of her alcoholic mother, Mellon honed her natural business sense and invested in what she knew best—fashion.In creating the shoes that became a fixture on Sex and the City and red carpets around the world, Mellon relied on her own impeccable sense of what the customer wanted—because she was that customer. What she didn't know at the time was that success would come at a high price—after struggles with an obstinate business partner, a conniving first CEO, a turbulent marriage, and a mother who tried to steal her hard-earned wealth.Now Mellon shares the whole larger-than-life story, with shocking details that have never been presented before. From her troubled childhood to her time as a young editor at Vogue to her partnership with the cobbler Jimmy Choo, to her very public relationships, Mellon offers an honest and gripping account of the episodes that have made her who she is today.In My Shoes is a definitive book for fashion aficionados, aspiring entrepreneurs, and anyone who loves a juicy true story about sex, drugs, money, power, high heels, and overcoming adversity. This episode is what I learned from reading In My Shoes: A Memoir by Tamara Mellon. -----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save time and money.-----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Jim Simons never took a single class on finance, wasn't interested in business, and didn't start trading full time until he was 40. The company he founded —  Renaissance Technologies — has made over $100 billion in profits.Starting out with the heretical belief that there was a hidden structure in financial markets, Jim decided to staff his “crazy hedge fund” with mathematicians, computer scientists, and physicists. He went to great lengths to collect more historic financial data than anyone else, spent a lot of time recruiting “killers” (people with single minded focus that wouldn't quit), invested heavily in computers (and the people who ran them), and designed the most collaborative work environment.Jim was a world-class mathematician, code breaker, exceptional manager of people with exceptional minds, a genius in system design, and deeply understood the power of incentives. He was also incapable of giving up, willing to endure a decade of struggle and pain, and hell-bent on doing something “historic” with his life.Jim Simons lived a life defined by persistence, unconventional thinking, and an unwavering pursuit of excellence. Studying his life and work is time well spent. This episode is what I learned from rereading The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution by Gregory Zuckerman. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Akio Morita was a visionary entrepreneur and co-founder of Sony. Born as the first son and fifteenth-generation heir to a 300-year-old sake-brewing family in Japan, Akio eschewed the traditional path to forge his own legacy in electronics.In post-war Japan, Akio joined forces with Masaru Ibuka to found Sony. They started in a burned-out department store with limited resources—to build their first product they had to buy supplies on the black market. Akio was determined to change the global perception of Japanese goods as poor quality. From day one he set out to build high-quality, differentiated products, targeted at affluent markets. Akio believed in long-term vision over short-term profits, product innovation without market research, and brand building over immediate profits. Against all opposition, including inside of his own company, Akio invented one of the most successful consumer products of all time: The Walkman. It sold over 400 million units and inspired countless other entrepreneurs like Steve Jobs, Jeff Bezos, James Dyson, and Phil Knight. This episode is what I learned from rereading Akio's classic 1986 autobiography Made In Japan. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

This is one of the most extraordinary founder stories you will ever hear. Michael Dell started his company with $1000 when he was 19 years old. The revenues for the first 16 years of Dell look like this:1984 $6M1985 $33M1986 $67M1987 $159M1988 $258M1989 $388M1990 $546M1991 $890M1992 $2B1993 $2.9B1994 $3.5B1995 $5.3B1996 $7.8B1997 $12.3B1998 $18.2B1999 $25.3BDell had been profitable for every quarter of its existence. By 2012 the story had changed. The consensus was that Dell was dead. Michael Dell certainly didn't think so — and besides—he was incapable of giving up on the company that bears his name. As he said at the time "I will care about this company after I'm dead!"  Michael takes his company private, completes the largest acquisition in technology history, and remerges perfectly positioned for the age of AI. Michael Dell has been working on his company for over 40 years and it feels like he's just getting started. In his autobiography he shares the most important lessons he's learned. It's a treasure trove for entrepreneurs and leaders. This episode is what I learned from reading Play Nice But Win: A CEO's Journey From Founder to Leader by Michael Dell and Direct From Dell: Strategies That Revolutionized an Industry by Michael Dell. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Jerry Jones rolled the dice until his knuckles bled. He started working at 7 years old. Jerry could sell, sell, sell. He sold fruit at his father's grocery store in grade school and sold shoes out of the trunk of his car in college. After failing to sell pizza franchises he tried real estate and insurance. He never met a high risk deal he didn't like. Jerry got pitched a deal to drill for oil that everyone else had already said no to. Jerry said yes. That well made $4 million. He hit again on the next 14 wells. Jerry decided to drill for natural gas next. He drills 200 wells. He hit on 199 of them. He sells that company for $175 million. He has $90 million in the bank. He buys the Dallas Cowboys for $140 million. 75 other people had the opportunity to buy the team and said no. He empties his bank account and borrows $50 million at steep interest rates. The year before Jerry bought the team the Cowboys lost $9 million. Financial advisors told Jerry that the Cowboys were ridiculously overpriced and that he was committing financial suicide. Within a few years the team is printing $30 million a year in profit. The Dallas Cowboys are worth $10 billion today. This episode is what I leaned from reading King of the Cowboys: The Life and Times of Jerry Jones by Jim Dent. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Vesto: All of your company's financial accounts in one view. Connect and control all of your business bank accounts from one dashboard. Go to Vesto and schedule a demo with the founder Ben. Tell him David sent you. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book---- ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Clay dives into the life and legacy of Sol Price, the pioneering retail entrepreneur who revolutionized the industry with FedMart and Price Club, ultimately leading to the creation of Costco.  The episode explores how Price's business philosophies, including treating employees well and maintaining a relentless focus on providing value to customers, inspired iconic entrepreneurs like Sam Walton and Jeff Bezos. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 01:45 - The story of Sol Price starting Fedmart and Price Club. 19:30 - Sol Price's core business philosophies 50:47 - The key ingredients to the success of Costco's business model. 52:58 - What led to the emergence of Costco and the eventual merger with Price Club. 01:01:40 - An overview of Costco's business model today And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Books mentioned: Sol Price: Retail Revolutionary & Social Innovator, and The Joy of Costco. Jim Sinegal's interview with the Motley Fool. The Science of Hitting Blog. Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page. Related Episode: Listen to TIP492: The Best Investor You've Never Heard Of. Related Episode: Listen to TIP634: Value Investing Fundamentals w/ John Huber. Follow Clay on Twitter. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Hardblock SimpleMining Unchained The Bitcoin Way Found Fintool Bluehost Vanta Fintool PrizePicks Onramp TurboTax Fundrise HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Want to Start or Grow a Successful Business? Schedule a FREE 13-Point Assessment with Clay Clark Today At: www.ThrivetimeShow.com   Join Tim Tebow, LIVE and in-person at Clay Clark's December 5th & 6th 2024 Thrivetime Show  Business Workshop!!! Learn Branding, Marketing, SEO, Sales, Workflow Design, Accounting & More. **Request Tickets & See Testimonials At: www.ThrivetimeShow.com  **Request Tickets Via Text At (918) 851-0102   See the Thousands of Success Stories and Millionaires That Clay Clark Has Helped to Produce HERE: https://www.thrivetimeshow.com/testimonials/ Download A Millionaire's Guide to Become Sustainably Rich: A Step-by-Step Guide to Become a Successful Money-Generating and Time-Freedom Creating Business HERE: www.ThrivetimeShow.com/Millionaire   See Thousands of Case Studies Today HERE: www.thrivetimeshow.com/does-it-work/