← Business with Beers
Business with Beers
Why Most Franchise Owners Stay Broke (And What $10M Operators Do Differently) | 280
00:07:23
Loading summary
Transcript1 lines
- [00:00]
A
I've learned in building a massive company that there's one indicator of success. There's one thing that I failed when I did not do this. I failed tremendously when I hired people who did not do this. And then I started to make some money when I did it, and I started to make a lot of money when I hired people who had this trait. So what am I talking about? I'm talking about having a massive sense of urgency, a burning desire inside of you to get shit done, done. It starts at the top down. It starts with me as the owner, as the leader, driving the ship forward in setting that expectation with everybody that works for me. Because I value progress over perfection. Like I want to see progress on things we're working about. I don't care if it's not perfect, that's, oh fine, we will learn, we will reiterate. But we start to make progress. And it really frustrates me when we talk about something and then, you know, we talk about four times and we still haven't done it. It's just like, why don't you just do the thing, right? So I learned this when I was building my auto repair franchise business. I worked in the stores every day and I learned that the most successful managers that we had had this burning sense of desire. Like they had this sense of urgency, like something was on fire and we, we had to like get it out. And so when a customer called, they ran to pick up the phone. When the customer said, hey, can I bring in my car tomorrow or next week? They said, you can, but we have an opening at 2 o' clock today. Would that be better for you? They would try to pull it forward, right? And when that car came in, they with the mechanics to say, hey, let's get this thing checked out. What does it need? They'd sell it, they get the parts right to the bays. They would bring cars in and out. They would do whatever they had to do to compress the time frame to create this massive sense of urgency to get the car fixed back on the road to the customer. And so I started to do this. I was the one that pulled the cars in and out. And like, I can't fix cars, right? I'm not a mechanic, I mean, yet. I own 33 automotive repair shops, but I was able to help the guys get cars in. I was help to accelerate the process. And then that continues, right? Because now the people in the stores, they started to have a burning sense of desire. They started to make more money because we, you know, have Performance based compensation plans. It was like a muscle where they got stronger and stronger and faster and better. And so then when other new employees came to work at those stores, it was like running a marathon. Like, they had to keep up with all these guys and at first they were really slow, but then once they got that ingrained in them, they started to pick up their speed, their progress, and they started to make more money. And like, winners want to surround themselves with winners. It's the same thing happens if we take a good, you know, person with a high sense of urgency into another store. They are going to instill that in the other store if they can, which is saying, like, hey guys, like, why are we sitting around? Like, let's get these cars and let's go, let's go. That sense of urgency is contagious in a positive way. However, it's also contagious in a negative way. If you have a whole bunch of people who have zero sense of urgency. Like, they just want to sit on their ass all day and dick around on their phones. They live in this world where, hey, everything just like, comes to me and like, I'm the victim and life happens to me. Then like, guess what? That is also contagious. Where now a new employee we just hired goes into the that culture, they're going to think, well, this is what it's like. We just sit around and we, we just wait for things to happen. And guess what? Like, those are the stores that are not successful. Those are the stores and the people that, that we replace with the ones who have the burning sense of desire, who have that massive sense of urgency, because those are the ones who are going to make us more money. We're going to help more customers. Like, everybody wins when the business does better. I look for this a lot when I'm interviewing people. Now, a lot of times people won't necessarily tell you they have a burning sense of desire, right? However, their actions speak for it. So, for example, we post an ad. How quickly does somebody apply? How quickly do they respond? How quickly do they want to set up an interview? Are they early? Have they done research about the company and about me or whatever they can find prior to the interview? Once we have the interview, are they following up with me? Do they seem to really want it? And are they the ones pushing the ball forward or are we constantly dragging them forward? Right? Because if we're constantly dragging them through the process, like, guess what? When we hire them, it's going to be the same experience. They're the ones that are going to be lazy and making excuses and turning people away and be like, sorry, boss, not my fault. It just is what it is. Maybe that works for some businesses, it doesn't work for mine. We're going to do 50 million in revenue this year. I want to get to 100 million by 2030. And to do that, I need a team of a players. I need a team of people that want to hustle, that want to drive, that want to push the ball forward, that want to push outside of their own limiting beliefs of what's possible. And I think that's a big part of it that a lot of people don't understand is like, we all live in a bubble, right? We all have these expectations of what is possible. Beliefs, you know, things that we say in our mind. Like, there is no way that we could do this, right? Because that is. That is as far as we can see. Like, our minds can't comprehend what we can't see. For example, in my franchise business, my best store does two and a half, like $3 million in revenue. The best store in our franchise systems, I want to say, does about 5 million, which is like, whoa, man, like, really, really good. I went to visit a franchisee in a. In a sister brand of ours that does $1 million a month. So we're talking $12 million a year. This is kind of like the best part about being enfranchised is people are willing to share ideas and best practices. And, you know, we're not competitors anyway. I go to. I go to Utah, I visit this guy, and I get to see what does it look like to run a $12 million a year business where, you know, my average store does 1.2 million, he's doing 10 times as much as me in his stores. And guess what? Everyone had a massive sense of urgency. There's all these people who are running to answer phones. They were saying, y it in, the technicians working together. It's like NASCAR zipping tires in and off, pulling in cars in and out. It was speed, speed, speed. The name of the game was get these cars in and out as fast as they can. And it just wants to show me that, like, there's nothing new, right? It's all about execution. It's all about how quickly can we get this done, how much urgency can we create in ourselves and our people and our customers. And if we can create that culture, like, man, there is no limit to what you can create. And for this guy, that was just one of his stores, he had another store that did 6 million and 7 million. And I think his worst store did 4 million. Like it was not just a unicorn, it was the culture that he created and that everyone in his organization had. And that's what I'm trying to create. That is what I have created. But it's for me, it's just getting better at it, right? How we find people, how we hold them accountable and how we execute on it. I've been very fortunate enough to become friends with some very high net worth individuals, people worth $100 million, $200 million. I mean, private jet, muddy level. You know something I notice them is they're very intentional. They set goals like this is what I want, this is where I'm going. And then they're very intentional with the actions that they take every single day to make it happen. They have a burning desire to get stuff done. They have a burning desire to move the ball forward. They're not waiting around being the victim on somebody else. They move it forward. And anyway, I'm trying to get better at that in terms of very clear of where I'm going, very clear next steps, trying to cut out the noise and, and be intentional with my time. So this is something I'm working to get better at. And if you want to follow me on my journey in building a multi unit franchise business, hit that subscribe button below and I'll see you in the next video. Cheers.