Sep 6, 2022
This is the Trick? The One Thing to Exit Strategy to Moneyball & Business Lessons from Movies - Best of Business Part 2
- BRT S03 EP43 (142) 9-4-2022
What We Learned This Week
- That's the Trick - Daily Work, the Grind
- Dominos - Priority in Latin = First, what is your 1st Domino? Knock it down
- Advisory Team - importance of building a good team (CPA, Attorney, Banker)
- That’s the Trick – this is the performance
- What's the Problem? - from Moneyball
- We Don't Hire Brokers, We Train Them - from Boiler Room
That’s the Trick
There’s a scene in the movie The Prestige when the 2 young apprentice magicians go to see an older magician to learn his ‘Trick’. When the older magician is on stage he’s doing amazing feats of strength. Then they get a watch him after the show get into a carriage, he seems like a crippled feeble old man who needs help.
One magician says the other magician – ‘This is the Trick. This is the performance. This is why no one can detect his method. Total devotion to his art. Lot of self sacrifice.’
The ‘Trick’ is off stage, he’s always acting like a crippled old man. It’s simple, not easy.
We often look for something that’s not there, the big secret, when it’s actually just in front of our faces. Always more simple than we think.
We’re looking for the big trick, how to get rich in a moment. When the actual trick, is doing the work daily, weekly, monthly, for years. You hone the craft, measure your progress, and adjust over time. Respect the craft, as there is no overnight success.
The old line in business, it took him 20 years to be an overnight success. The Malcolm Gladwell book Outliers, says it takes 10,000 hours to master something. The expert has been practicing for 10 years.
The professional golfer, the actor, the musician, the chest master, the salesman, or work on their craft. Even the greats like Tom Brady, Buffett, or bodybuilder Schwarzenegger all honed their craft over the decades.
It’s Simple, not Easy. You have to show up every day, to the repetitive work, just doing the grind.
There is a great story about Sylvester Stallone trying to get auditions, and then trying to sell the screenplay for Rocky. He got thrown out of agents offices over 1500 times in the mid 10970s. Funny as there were only 500 agents in NYC. He actually got thrown out multiple times.
There are no success hacks, no magic, no secret sauce. The secret is to just do the work. You work daily and improve 1% a week, leads to 66% improvement in a year. You must be willing to do what others will not. Compounding works with effort day and day out.
Magic of Compounding is mass improvement over time, by perfecting the little things. Delay gratification and you see the results slowly. Build a base, not unlike the structure of a building.
If someone says it’s easy and you don’t have to work for it…. Then probably selling you something. If it’s easy with no sacrifice, or habit building, then it will not last.
When you cook a meal, what doe sit look like if you pulled it from the oven midway thru? You have to let it cook, to get the finished product.
Be in it for the Long Term. Let Compunding work for you.
Back to the The Prestige:
‘Sacrifice is the price you pay for a good trick.’
Not breaking character, you commit to the craft.
https://www.youtube.com/watch?v=o-3GckDEPpU
Borden and Angier watch Chung Ling So's fish bowl trick | The Prestige (2006)
Clips from The One Thing w/ Jay Papasan of Keller Williams Realty
BRT S03 EP22 (122) 5-29-2022
Guest: Jay Papsan, VP of Keller Williams Realty
https://www.linkedin.com/in/jaypapasan/
https://twitter.com/jaypapasan
Jay Papasan is a bestselling author and serves as vice president and executive editor at Keller Williams Realty Inc, the world’s largest real estate company. He is also co-owner and co-founder of several successful businesses, including Keller INK, Keller Capital, and, alongside his wife Wendy, Papasan Properties Group in Austin, Texas.
The books he’s co-authored have collectively sold over 3.5 million copies. His most recent work with Gary Keller on The ONE Thing has sold over a million copies worldwide and garnered more than 500 appearances on national bestseller lists, including #1 on The Wall Street Journal’s hardcover business list.
The ONE Thing by Gary Keller & Jay Papasan – book summary
The Book in Three Sentences
- The ONE Thing is the best approach to getting what you want.
- Success is a result of narrowing your concentration to one thing.
- Success is built sequentially, one thing at a time.
The Five Big Ideas
- Not everything matters equally.
- Multitasking is a lie.
- Discipline is a result of habit.
- Willpower is a finite resource.
- Big is bad.
Link: HERE
Full Show: HERE
Clips from
From Private Equity to The Exit Strategy Playbook w/ Adam Coffey
BRT S03 EP06 (105) 2-6-2022
Guest: Adam Coffey, author of The Private Equity & Exit Strategy Playbook
LKIN: https://www.linkedin.com/in/adamecoffey
Website: https://adamecoffey.com/
Adam Coffey - CEO, board member, best-selling author, Forbes Business Council member, and an acclaimed guest speaker, Adam Coffey, is an inspiring and authentic leader who creates high-performance cultures and drives transformative growth.
Part Three: Build Your
Advisory Team
Coffey talks about the fact you need
strong and experienced advisors in the sale process to prep
for the qualified buyer. He means tax advisors and
accountants; lawyers; and a broker like an investment
bankers/transaction advisor. He reviews costs, timelines and where
each assists a seller. If you do not have a good team, the buyer
could take advantage of you (especially if they are experienced),
and the costs could be hundreds of thousands to millions
$.
Full Show: HERE
Clips from Moneyball, Boiler Room, Glengarry Glen Ross, The Founder
- Business Lessons from the Movies
BRT S03 EP42 (141) 8-28-2022
Guest: Eric Almassy
LinkedIn: https://www.linkedin.com/in/eric-almassy-4b10097
Eric is a regional sales director, & also a part time Actor
Notes:
Moneyball
Do you know what the problem is? – have to identify the problem, and magnitude to be able to solve, If looking at the problem wrong, can’t solve
Find Undervalued assets – work harder, look for talent where others ignore, focus on results, not if they have ‘the look’
Think differently, cannot think like others with more capital & resources – compete against others at their game, get slaughtered, must adjust the game, creative problem solving within means you have
Job Offer – John Henry of the red Sox tries to recruit Billy Beane
Baseball was out of touch (Dinosaurs), should be copying Beane’s formula, use science and math to update the game of baseball, Bill James & Sabermetrics
https://www.youtube.com/results?search_query=moneyball+movie+clips
Boiler Room
How to pitch, close – motion creates emotion – learn rebuttals, Ask Qs & identifying buying Qs
Train new people in their system, ‘We don’t hire brokers here, we train brokers’
Act As If – dress the part, act like you own the co
Telemarketer for newspaper – ‘Wait a Min., that’s your pitch?’ You want to close me, you should sell me
https://www.youtube.com/results?search_query=bolier+room+clips
Full Show: HERE
BRT Hollywood: HERE
BRT Marketing: HERE
BRT Business: HERE
Investing Topic: https://brt-show.libsyn.com/category/investing
More - BRT Best of: https://brt-show.libsyn.com/category/Best+Of
Thanks for Listening.
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