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HOT TOPIC The Undercover Billionaire: Building a $1m business in 90 days

csalvato

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I hate people. :)

Not really, but I do hate employees in the general sense. I've had dozens, and always pay them first. I prefer paying me first.
This strikes me as a mindset issue. In a high growth, scalable company, your employees aren’t there to get paid or make money. Those people are mercenaries. You can’t have a scalable company built with mercenaries.

A scalable company, by contrast, is filled with missionaries. These people are dedicated to the mission of your company and will give you all their energy and creativity to solve a shared mission... where the outcome also happens to be highly lucrative.

IMO if you can adopt this mindset, given your history and skill set, an 8 or 9 figure exit is inevitable.
 

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vulcansx

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This strikes me as a mindset issue. I’m a high growth, scalable company, your employees aren’t there to get paid or make money. Those people are mercenaries. You can’t have a scalable company build with mercenaries.

A scalable company, by contrast, is filled with missionaries. These people are dedicated to the mission of your company and will give you all their energy and creativity to solve a shared mission... where the outcome also happens to be highly lucrative.

IMO if you can adopt this mindset, given your history and skill set, an 8 or 9 figure exit is inevitable.
It depends what industry you are in, I have friends in e-com that do 8 figures just utilizing 3rd party logistics/fulfillment centers/customer service.

You can outsource everything without actually having to manage the team yourself, it just costs a bit more money but saves 1000 headaches.

I guess you could argue if you outsource it to a 3rd party company they are still a part of your team..
 
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Kak

Kak

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It depends what industry you are in, I have friends in e-com that do 8 figures just utilizing 3rd party logistics/fulfillment centers/customer service.

You can outsource everything without actually having to manage the team yourself, it just costs a bit more money but saves 1000 headaches.

I guess you could argue if you outsource it to a 3rd party company they are still a part of your team..
Sales and cash in bank are very different things. Agreed though.

Irrespective of these points. I don't believe this needs to reach an argument level of an analysis.

Scale means adding profitable resources. Sometimes those resources are people... How they are technically paid doesn't matter.
 

ApparentHorizon

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I appreciate Glenn taking the viewer through scenarios they may encounter.

Hardships. Luck. Pivot Points.

For example we know he has internet access.

Do you think he couldn't type in...

26774

The show is more like a book filled with lessons and anecdotes.
 

SteveO

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I appreciate Glenn taking the viewer through scenarios they may encounter.

Hardships. Luck. Pivot Points.

For example we know he has internet access.

Do you think he couldn't type in...

View attachment 26774

The show is more like a book filled with lessons and anecdotes.
He was specifically requesting a new license. That is different from a transfer. I also believe he was looking for a special type of brewer licensing.
 
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ApparentHorizon

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He was specifically requesting an new license. That is different from a transfer. I also believe he was looking for a special type of brewer licensing.
You're right. I think he was doing it for effect. 90 days to get $1M. 90 days to get approved.

On the same results page, the actual time-frame shows around 6 months for a new one. (180 days)
 
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Andy Black

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TheCj

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Glenn's process of assembling a team and his way of approaching starting a business, is probably the biggest difference I see.

Most people when starting a restaurant or any business will be doing everything themselves. They'll be in charge of renovating, hiring the cooks and wait staff, food control, inventory etc..

He's basically working with the end business structure in mind, going backwards from a huge company to a small start up. By already delegating out different "divisions" he's already the manager. So he's separated his time from the day to day running of the small details. The scaling framework part of running the business is in place. If they have issues with the beer relationships they won't be going to Glenn they'll go to Mark the beer guy repeat for any problem in any division. Problem with the house go to the decorator, Is awesome to see.

Can apply this to dealing with the front line employee's that's already not Glenn's role, he deals with his leadership group which he has chosen and likes. By guiding them they learn what Glenn likes to do and they become an extension of him. Or more like he guides them to take ownership of there division, and gives feedback when he feels necessary. So less work for him in long run as he trains/guides them in short term.

There also won't be a transition phase where the owner/operator has to rethink the business to grow and how to add people after years of running as sole proprietor.

Can see now how it makes sense for the metal fab guy, the carpenter, and Rj to be involved. The metal fab guy could be the company contracted to make the signature bbq cook top or whatever it is for the restaurant's if goes nationwide. Repeat for the carpenter business, and Rj gets contracted to handle all the merchandise sales and product creations.

A lot going on this episode, and they revealed that he was doing a lot more in the earlier weeks than they let on in those episodes.

Fun to see.
 

oku

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I guess that'd be like putting a professional athlete through college again. Interesting.
 

oku

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Great premise. Make a million dollars from scratch. In 90 days. From $100.

Thanks for posting. Definitely going to watch.

Most people will hate on the show because of cognitive dissonance.

The Script tells them that it takes 40 years to make a million dollars.

If he does it in 90 days, then their belief systems are wrong. And that's impossible.
Quite right. There are many factors he's not prepared for.
Nothing like his first business.
Neuroplasticiteit making habits and expectations hard to break -- "Can't teach an old do new tricks."

If Leonardo DaVinci was born in 2019, would he still be successful?
 

Rawseed

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You're right. I think he was doing it for effect. 90 days to get $1M. 90 days to get approved.

On the same results page, the actual time-frame shows around 6 months for a new one. (180 days)
He may or may not have been doing it for effect. But, it was still a great move.

When I googled: Get a brewery license in Pennsylvania, I found this resource:


They say that it takes six weeks to get the required:

Manufacture, Storage or Transportation License to the Pennsylvania Liquor Control Board

If he had listened to that, he may have continued with his original brewery plan.

Talking to a lawyer with domain experience helped him get two key pieces of information that isn't found in the above article.
  1. In addition to a state brewer's license, he needs a federal brewer's license
  2. The government shut down has severely slowed down that process
Those two pieces of information were worth way more than he paid for them. Without those two pieces of information, he would have surely failed.

The lawyer may have also had a shortcut that the average person doesn't know about.

Billionaires understand the value of time more than the average person. They also know that there are undocumented loop holes in every system.

For most things, reading a book or website is all you need to move on to the next step.

But, if you have a specific critical question, talking directly to a professional who has walked down the path you are trying to walk, is better.
 

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TheCj

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Another thing that sticks out, it looks like he approaches problems by asking who can help me? Instead of how can I do something.

Also what he's wearing or how's he wearing what he has, has changed improved.
 

Bertram

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I have no use for TV but checked it out. It's great entertainment to follow the execution of an inspired, talented, truly vulnerable hero. And my knowledge pivots every episode.

Glenn knows people and sales but like any fallible mortal he has occupational blindness now and then.

As soon as he sees the cat pee/green mold in his real estate flip house he thinks "remediation company." I would be calculating the costs of a plastic spray bottle, paper towels and diluted bleach.

Did anyone predict that the tatted T-shirt baron would be reluctant to find a BBQ master?
 
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Vigilante

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Did anyone predict that the tatted T-shirt baron would be reluctant to find a BBQ master?
Might be theatrics with an engineered turnaround story. His business is getting a TON of free publicity along the way. He probably went from obscure to national.
 

Originsofchase

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Just caught up on the latest episode. Some things that stood out to me.

- Glenn talks of servant leadership. Working for and with his team.

- Ownership. He takes ownership when things do not go as planned, but also encourages his team to own their role in the operation. The Dichotomy of Leadership (great book that I'm reading).

- Networking and relationships are very important. He wouldn't have made it even this far without the relationships he has built. I think he struck gold with Matt, the guy running the alcohol/beer side of the business.

- Mindset, be prepared and willing to pivot. Don't marry yourself to one idea.
 

Ecom man

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Just got caught up today as well.

One thing that struck me was he was getting the ball rolling on his business before he has even close to the money to make it happen. I know I’m often a do this then that kind of thing but he already had the business picked out, the pivot to Beer and BBQ done and was getting after people for not hiring a pittboss before he even has the house bought.

To me it’s been challenging to my beliefs. Why haven’t I hired someone to do x?

Why didn’t I build a team around me when it became successful instead of being a solopreneur?

What am I going to change that can take my business to the next level in 90 days, or a year?

Honestly this show is powerful if you watch for themes and what you can implement in your business form his experience!
 

Melissa Tucker

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I binged watched all the episodes that are out so far...(3 or 4 I think?). I LOVE this show! Is it scripted? Possibly - but his hustle, grit, and ability to pivot and keep going are just a few of the qualities that many of us are missing. I was so inspired by watching his approach to getting his business up and running that it's caused me to look at my business a bit different and make moves I was scared to take before.

Haters are going to hate but there's always a lesson. I think this show is inspiring.
 

SiuLung

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I don't know if the show is scripted, but I really liked it so far!

The main lesson that I get from it is that if you have a will and a vision, and if you want to bring that vision to life more than anything else, you will eventually succeed.

I mean, at first glance, Glenn Stearns doesn't radiate confidence and charisma. I even find him kind of socially awkward in some situations. But man, once he starts moving, he is able to sell his idea to other people, motivate them and make things happen.

What do you think?
 

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ProcessPro

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Just going to throw this out there as it relates to the current direction on the discussion....

As a business consultant who has worked with many self made millionaires I'll just say this: Whatever excuse you have, or have heard anyone else use, someone with a worse situation made the decision to be successful and succeeded.

I'm constantly amazed at some of the obstacles many of my clients have had to overcome. Amazing.

If you live in the USA or Europe and have an IQ of 95+, you really don't have many legitimate excuses for not living up to your potiental.
I'm in a developing country. Also a lot of opportunities. We can just import ideas.
 

ProcessPro

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Just saw the 2 episodes, I thought it was a lot of fun !
Can't wait to see the next one !
One thing I noticed also, and Felix Dennis insist a lot in his book too, is betting on human capital
I think it's a really great shortcut to scale and a necessary step in growing a business. What do you think guys ?
What's betting on human capital?
 

The Abundant Man

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I like the concept, though I am skeptical of televised success. Now, I might just set a challenge for myself to do something like this, which would be where the real value lies.
Youtube it
 

The Abundant Man

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I wonder what the general public thinks of this show?

I know as business owners we'll always appreciate and take something out of this but it doesn't mean others will.

I play the Cello so I have a fondness for classical music but to others it's boring.
 

biophase

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I appreciate Glenn taking the viewer through scenarios they may encounter.

Hardships. Luck. Pivot Points.

For example we know he has internet access.

Do you think he couldn't type in...

View attachment 26774

The show is more like a book filled with lessons and anecdotes.
I think this is a lesson. Sure you can find the answer online, but do you know if it is correct, or the only way? For something this important, I would never read it online and give up. I'd ask for another opinion.

He's a billionaire, and billionaires don't search for things online. They ask the people who do it for a living.

What if... the attorney says, "but there was a law that just passed last month that allows you to get a license if you purchase a historic building".

What if you were Glenn's employee and all you did was run an internet search and it was wrong?
 

ApparentHorizon

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I think this is a lesson. Sure you can find the answer online, but do you know if it is correct, or the only way? For something this important, I would never read it online and give up. I'd ask for another opinion.

He's a billionaire, and billionaires don't search for things online. They ask the people who do it for a living.

What if... the attorney says, "but there was a law that just passed last month that allows you to get a license if you purchase a historic building".

What if you were Glenn's employee and all you did was run an internet search and it was wrong?
You don't truly know if something is correct for your business unless you try.

Glenn understands it, so he increases his %, by tapping experts.

(I noticed this in my more successful clients as well.)

And they do it in the following pattern:

Aim. Execute. Aim. Execute. . . repeating. Repeating quickly.

As soon as new information comes up, they take action.

No waiting or sitting down to double and triple check the source.
 

Rawseed

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Nikhil God

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You ruined the ending for me. Joking.

Can't believe I didn't think to google that. It didn't click in me that the show was actually filmed over a year ago.

I'm glad to see them doing the sauces. Alot of potential for scale with those.
Haha, I guess I ruined it for myself too. Now I know he somehow flipped the house (or did I know that already?)

I wouldn't say a year as the Shopify store does have a 2019 register mark at the bottom. Maybe they update that every year so then that might be true.

Yeah, he was already talking about selling sauces and other stuff online right from the beginning. Not in the least surprised to see a Shopify store, the merch though lol

Spoiler: He might give away the business in the end to his team as he is in a photo but not in the About Us section.
 

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