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I've had a massive shift in how I view business and it has fundamentally transformed everything that I'm doing

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Welcome to the game where we talk about how to get more customers how to make more

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Procursor and how to keep them longer in the many failures and lessons we have learned along the way

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I hope you enjoy and subscribe

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I've had a massive shift in how I view business and it has fundamentally transformed everything that I'm doing hi

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My name is Alex Mosy. I own a portfolio of companies that is $85 million a year in revenue all right

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So one of the things I'm going to tell you two stories that significantly changed my career

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All right, and hopefully you'll be able to you'll be able to take the the message from the story because I think they're they're really really good

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So when I was just starting out in my gym lunch business

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I had a gym owner who said hey

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Let's partner on this like you keep filling these gyms up if it will capacity

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Why don't you just fill them and I'll come behind you and operate them and I had a gym that was doing four points a million dollars a year

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This is what he was telling me and I really know how to operate the business you know all the acquisition stuff

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So let's just partner upon this and I said sure sounds fair enough it ended up being a horrible partnership

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But that's not the point of the video the point is what I learned all right, and so

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We had two locations and the newest location had a whole new staff and they were just lack of days

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All right, they weren't they weren't they weren't caring. They weren't really doing a good job and

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He said, you know, we need to we need to you know have a meeting and I was like, okay, and so he said we have a meeting at the first location

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call everyone there

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Tell them to show up at four o'clock and the first location was probably like 45 minutes away from the second location, right and

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So at four o'clock so everyone's everyone's everyone's coming in everyone's sitting down

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It's kind of awkward. It's silent. There's clearly like some tension, right?

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And so at four o'clock he looks at his assistant and he says hey go down to the front

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block the door right of the gym and

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She's like okay, so she goes and locks the door mind you some people hadn't shown up to the meeting yet, right?

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There are a couple minutes late whatever and so all of a sudden as they lock the door like it's 30 seconds later

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Someone's like banging on the door and it's like hey open the door and he's like ignore him and

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And they're like like why aren't you letting me because obviously there's a meeting going on right and then another person comes

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Knocks on the door another person comes knocks on the door and then there's like three or four people and they're like

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What the hell like why aren't you going to the door or whatever right and so he tells his assistant

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He says go outside and tell them they're all fired and he says this before he starts the meeting and so I'm sitting there

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Right and everyone in the room is like oh shit, right?

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He just set the

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Tone all right and he reset the bar and I remember witnessing this and being like wow

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So what he did was he reset the bar of this is how we performed when we say we're going to be somewhere

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We're going to be somewhere at that time if we say we're going to clean up after the session

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We're going to clean up after the session if we say we're going to fall with leads

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We fall with leads and what I have figured and I'm going to tell you one more story and then let's say the moral both

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All right, so pause on that for a second now when I had my first job

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I was a actually I think it was my first as my first job

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I was a blender tender at smoothie king all right and so I learned a lot about what to do and what not to do when I was

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This business it was a small business owner. I think you had two locations to three locations at the time

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His name was Dave really nice guy. It's up Dave

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And I went and I was trained personally by Dave

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So Dave trained me and I was you know, enterprising young man

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I wanted to do a good job and so I showed my first day at work at one of his newer locations and

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You know after you know between people walking in you were supposed to like mop the floor clean the counters

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Like just clean it just make it look good restock the shelves and so I started doing that

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When someone walked out the door it's my first shift right and the manager was like what do you do?

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I was like I thought I like I was worried I was in trouble

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So I was like I thought I was supposed to am I not supposed to restock the shelves like I thought I was supposed to do that right now

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Because like there's no one here and he was like oh yeah, you don't need to worry about that

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He's like we don't do any of that stuff and I was like oh, okay

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Boom new cultural norm all right, so

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What I was supposed to do and what the owner had trained me to do and then was always complaining about how no one ever did what was supposed to do

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The manager was telling me that I didn't need to do that stuff all right and what I learned from this right and I'll just call that manager John right

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Actually, I'll call the manager vids vids is the name I'll use so I said so

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Do you in your business have events are you the vids in your business?

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Do you have someone in your in your business that's the vids that secretly destroying your business all right?

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So let's rewind to the the original story about the first year motor that was talking about so think about the difference between

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Both of those styles of management. I'm not saying the first is right or the second is right whatever

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Whatever the second was definitely wrong, right?

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But when you look at that

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What it was was setting the tone and the reason that my views on business have dramatically shifted is that I have always had a

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Tenancy to lean towards strategy acquisition monetization pricing structures and all of that stuff is important

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But I think within a business there are two components to it. You've got the smarts and you've got the hearts and you have to have both

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Real quick wise you guys already know that I don't run any ads on this and I don't sell anything

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And so the only ask that I can ever have are you guys that you help me spread the words we cannot more entrepreneurs

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Make more money feed their families make better products and have better

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Experiences for their employees and customers and the only way we do that is if you can rate and review and share this podcast

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So the single thing that I have to do is you can just leave a review

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Let's take a 10 seconds or one type of the thumb it means the absolute will to me and more importantly it may change the world

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What else?

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And I think that most people overestimate the importance of smarts myself included and I think that there's a lot to do with the hearts

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Because business strategy overarchingly is not that complex

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But like you really think about it, right?

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It's like you got to find something that's good that people want and you sell it for a lot more than it costs you to do it

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And you do as much of that as you possibly can like that's kind of the idea right and the thing is is

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It gets lost in the execution it get lost in the doing right as soon as you hire first employees like no employees can't

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Boys can't do what I can do. It's like well, that's a horrible belief

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She's probably changed that before we try and move forward

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That's a that's a limiting belief right if you want to have a big business

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And so when I think about this from a cultural standpoint and this is what has shifted for me is that it's become so much more about the soft skills

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It's so much more about

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Coaching and developing the leaders of the company

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It's it's so much more about addressing behavioral dynamics of someone that are limiting them more so than it is about tinkering

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And I can't help but think that so many entrepreneurs myself included I spent so much time tinkering and and tweaking things

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What if we change this in our self-process? What if we change this on this page?

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What if we change the offer like this? What if we change this on the price?

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What if the payment turns blah blah blah all these different things right and think about this for a second for yourself?

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How many things have you tinkered with in your business over the last half of the years?

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How many months and your business hasn't changed at all right?

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Because the real problem is not the strategy the problem is not the smarts right the problem is the heart

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Right the people are not doing what you want them to do because they don't understand why they need to do it and why it's important

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Right and that's the soft stuff and you've got you know people who don't want to talk to each other because they don't like each other because

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One guy's really annoying and so it's like it would be it would better serve you to fix that problem than to try come up with some new strategy

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right and so

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Realizing that has been one of the biggest breakthroughs that I've had in my career and

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Those two stories should illustrate the difference between

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having a championship mentality and having a loser mentality and what might be going on in your business

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And I'll leave you with one more story really quickly. So if any of you has ever

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been on a championship team right if you've ever played in a sports

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Arena or whatever and you've been on a winning team you've been on losing team right and you've probably been on a losing

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Then a lot of good players, but you guys were not connected. You weren't concerted. You weren't aligned right and on the flip side

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You had a winning team and it was like everyone showed up to practice everyone you know tried their hardest

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It was the effort and the consistency and the alignment of the team that accomplished the goal

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The rules are the same everyone's trying to do the exact same thing

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And so when you think about the entire business landscape right your competitors have access more or less to the same talent pool that you do

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They can see what your strategy is overall and most people are not that dumb right and so as long as you have a relatively

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Sounds strategy like you're not selling things that'll loss right then the difference between the two is going to be your ability to

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Execute and have people execute on your behalf and so that's going to become that like for us to CEOs

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We do shift wars becoming championship team coaches

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Which is why John Wooden if he had run a business would have had a championship business because he focused on the fundamentals

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And one of my favorite things the whole time is

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Advanced people never don't do the basics advanced people never don't do the basics

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I would go to I would go to these stages and I would watch guys get on stage and they say you know

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We we follow up with all of our leads, you know within five minutes

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You know when we get on sales calls we always ask them either there we label them a problem

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You know we overview some of the pastings they've done and then they thought they follow a clear framework

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Then as soon as someone buys we you know we have a good onboarding process and nothing they say is revolutionary

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It's just that they actually do it and the people are actually on their behalf

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They're not the Vince or don't have a manager like Vince who's telling them they don't that they shouldn't have to do that work

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Right who's sabotaging the business what they did is they set the tone and then they carry the bar

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And so their job is to be intolerant of anything but excellence and to reinforce that in the call sure so that it's consistently

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Executed across the company because that between two companies with the same strategy will make the difference between somebody who who you

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It's disproportionate returns on advertising crazy profits good growth

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Great retention on employees low turnover from a company that doesn't have that right even though they both have the same strategy

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Or even if the smaller company has the better strategy this guy will win

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And this has been one of the most profound shifts that I've had

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As a CEO now owner of companies is what I'm looking for is I'm looking for just as much soft if not more soft skills interpersonal dynamics

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self-awareness then then I look for

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Skill in particular, you know like this guy's really good at finance. I'm just a really good product

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This person's really got it marking sales like I'm looking way more for character traits now

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And now that I think about it when you if you're thinking about yourself

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Right, then I would look in the mirror and say like am I really are we always doing the basics because if we always do the basics

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We will be advanced because that is what advanced people do is they never don't do them

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And they have a culture that reinforces that standard so hope you enjoy the first story

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Hope you enjoyed the Vince story make sure you don't have any vincis in your business

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My name is Alex Mosy. I'm a portfolio company. It's like is it earlier that does 85 million revenue?

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I have absolutely nothing to sell you lots of broke people in the channels to make sure that you are not one of them

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Keeping awesome clicks subscribe. I'll see you in the next video. Bye