Grant Cardone's 10 X DOES NOT WORK for many small businesses & ESPECIALLY contractors

 

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Presentation: Now I'm going to ask you guys to do something a little different for me. Stand up if you've ever had a bad day. A bad day stand up. I want to see who can relate. Okay, now if you guys are standing up on this next question if you've ever had a bad job stay standing so if you've never had a bad job, go ahead and sit down. Okay, alright, how about you come to the end of a quarter, a business quarter, and you say that[inaudible 00:00:30] sucked, alright. So if you ever had a bad quarter, stay standing. Okay, now look around a little bit we have almost everybody here still standing. Last question that I hope every single one of you can sit down at, but you probably won't, stay standing if you've ever had a bad year. An entire year, where at the end of the year you go what the hell happened to my business? How come I owe more money to the IRS then I have in my bank account? If you've ever felt like that, that's why I'm here. Go ahead and sit down.

Stan 1:1: I have seen more businesses die just explode from attempting to grow too fast. I have never yet seen a single business fail because instead of growing, they decided to remain status quo but then concentrate all the effort and energy that they would put into growth, into just improving their bottom line, into just optimizing their profits, and so if you guys really want to have a truly successful business before you grow and expand, get your profit margins to where they're uncomfortable. When I mean uncomfortable, where you are going holy crap how did I make this much money this year? And that's exactly what we're going to be talking about today. Now, I am at pondimonium and I was supposed to be talking about YouTube, but I thought that this was so important that I didn't want to skim over it so you're going to get a little bit of both the most important thing that you guys can pull out of this before this video is done, is to take a safe, steady path that I promise you; will lead to success. So without wasting anymore time, let's get back into this thing.

Presentation: Guys, I'm going to dispel a few myths. I want to make sure that before I am done with my 15 minutes, I at least open a few of your eyes. Has anybody here ever heard of Grant Cardone? He has something called 10x and a lot of people mistake what he's spouting and what he's talking about to be the Fountain of Youth for business and I will tell you straight up what he talks about is poison to most companies. Okay. And that is rapid growth. The fastest way to go out of business is to grow too rapidly. We are blessed as contractors with the ability to take on more work than we can handle. Has anybody here ever had to turn down a job because they were too busy? Let me see your hands. Almost everybody here has had to turn down work because they're too busy. And we start to think what can we do to capture that next job? What can we do to do that next job? And we start to think bigger. We start to think more massive scales. Larger. I want more, I want more, I want more, and that's where we go wrong and we've got people out there like Grant Cardone smart, intelligent man but the 10x theory does not work for what we do. It does not work because as contractors we have to 10x our business we have to add another skid loader, we have to add another truck, we have to add two or three guys to run that we need a project Foreman, we need marketing and advertising, we need all of the infrastructure to support that; and then, when the business goes down those payments never go away, do they? They haunt you. And that's the thing that tends to catch up to us. That's the thing that bites us in the butt before we're done.

Stan 1:1: You see, as contractors, we make the mistake of thinking that growth is the key to success when it's not. It's the second or third key. The first key to success is making every single project that you're currently working on hyper-profitable and that comes from knowing your numbers, bidding and estimating and how to control those numbers on a job to give you the most profit at the end of a project, and then once you have those done you can look at expanding and growing. But don't put the cart before the horse.

Presentation: and so that's where I want people to go. I want to 10x, now the theory of 10x and the theory of growth is amazing when you turn it inward. Don't plan on growing your business outward. Plan on micromanaging your business inward. And what I'm saying, I want you to do, is I want you to start on the job you're working on right now. Okay? If you guys have a project in progress, I want you to think about micromanaging that job to increase its performance of 3%. We have a rule at Dirt Monkey University. It's the 3% rule, the 5% rule and the 10% rule. And the 10% rule at Dirt Monkey University, says that if you guys can make a 10% change on every single one of your projects, you can double your profits. Okay and this isn't a lie, this isn't a theory, I see your eyebrows curling right there; because you're wondering about this. This is actually a mathematical equation that we've gone through and we've said take the main components of your business and change them by 10% on a per project basis. Okay? 

Stan 1:1: Alright, I want to be very clear about exactly what I'm talking about. If you can take your job and increase the price by just 10% and then decrease your material cost by just 10% and reduce your labor on that project by that same 10%. When you are all done with these micro-changes; you will double the profit on your project. But this is not theory, this is fact that we break down on a real job, in the real world and show you really how to do it yourself. 

Presentation: [inaudible 00:06:36] on a project, you have materials on the job, you have your overhead on a job. If you change each one of those three components by 10%, what you're going to see is the profit on that project will double. And a 10% change is a little bit of a stretch, but we say start With 3%. Start with a bite sized chunk and then you're going [inaudible 00:06:59] to 5%. Right? And then you're going to go to 10%. And how effective is this? Well, I lived that entire idea of rapid growth is the key to success. It almost killed me but I thought it's what the Jones's do.

Presentation: When I started out at 17 years old I did a $100,000 dollars. 18 years old I did 200,000, and I kept going I didn't care about anything but that number; because all we care about is a gross. We need to care about the net. We need to literally care about the bottom line and not where you are here; but where this number is at.And so that rapid growth can lead to rapid collapse. 

Stan 1:1: Okay, so lets just say that your business isn't quite perfect but you decide to 10X it. You're 10x-ing your problems. You're 10x-ing everything that you've done up to that point and that 10x principal will put you out of business 10 times faster than if you don't do anything at all differently than what you're currently doing. That's the fallacy of 10x. Get your business in order, running tight, running profitable and then take the same principles that you've learned and polished and refined and use those strategies to calculate it and strategically grow your business. Don't just grow your business to grow your business. Worst thing you can ever possibly do. Let's get back to the speech.

Presentation: And so on my YouTube channel I get a lot of haters. I get a lot of people that say "Oh you always screw stuff up". But when I started to micromanage my business, in 2008, I sat down with my crew, and I said I'm firing half of the people at my company and they looked at me like I was nuts. And we went down from about 2 million in installations to about a million the following year, and my profit stayed the same. And I'm sitting there going wait a minute, I'm doing half the work, and making the same amount of money. I like that. So then the next year I dropped it down to about 900,000 and I made more money. And I'm like well how the hell does this work? I'm doing less and I'm making more money. And so then every single year since then I have tweaked my numbers. To bring them down tighter and tighter and tighter, to the point where I have a problem where we did $700,000 of work one year, and I made $330,000 in profits after paying myself a healthy salary and everything else. I thought I have a lot of money to spend before the government takes it. I want you guys to have a lot of that same problem because that's a good problem to have and some of the tweaking that I did was the 3, the 5 and the 10% rule. But it was also making sure my company was run so tight that I could micromanage every component of it on a daily basis.

Presentation: Does anybody here know what Yellow Pages is? Yellow Pages killed me because I was that guy that had to have the ego, $6,500 per month I was spending in Yellow Pages. Just to market my business. Because, I had a 1.5 to 2 million dollar monster that I needed to feed. Right? So what's $6,500 a month, you know, $70,000 in advertising per year. No big deal. Right? [inaudible 00:10:36] What happens when I got too many leads? I got too many jobs? I can't turn it off. The phone keeps ringing and I'm sitting here going I'm booked out 12 months in advance. What do I need to have this $6,500 bill going on. I can't turn that off. And the guy comes up to me and he goes "You should do a podcast". And I say "You should go pack sand". Contractors don't want that. They're busy. And he said "I'm you're business partner, in a networking company, in a software company and I am asking you to do me this favor to market our new business. And I always give everyone the time of day. And I said alright, I'm going to do a podcast. And that podcast led me to learn a few things about people who are super hyper-successful. Out there in the world, they don't give you the meat on the bones.

Stan 1:1: Over and over and over again, all they talked about was theory. Business owners can't run their business on concepts. They need practical help. Practical advice that they can apply to help them in their business. Get rid of the theory and give me something solid to work on that from. 

Presentation: I learned that the more I interviewed these hyper-successful people, the less information that they would actually share that was relevant, helpful, impactful and something I could actually use in my business. 

Stan 1:1: I learned something very disappointing and sad by doing that podcast. Out of the 50, maybe even 60 some hyper-successful people that I interviewed, less than five of them actually gave me something that when I was done with the interview, I could use as practical information and advice to immediately apply to my business. That's when I came to the conclusion that something better had to be done.

Presentation: And one of them challenged me to do YouTube videos and his name was Keith Calthus. He became a good friend of mine. and I said Keith please don't make me do this because I have an obsessive personality and when I start something I won't stop until I do it. Until I do it 100% of the way. But I did it.

Stan 1:1: My initial goal with YouTube was to fill in the gaps in education that seem to be lacking when I was doing the podcast. The information that I couldn't pull out of the people I was interviewing, I was just going to come up with all my own and put into these YouTube videos. But then I started to realize that not even that wasn't enough. So I teamed up with Phil Seros and Kelly Taylor and together we created and educational program called Dirt Monkey University. It is only designed for education. We don't try to entertain you, we don't try to make you laugh or giggle or keep you occupied. We only want the hardcore people that are serious about growing their business to create a lifestyle that gives them everything they could ever hope for. That was our goal with Dirt Monkey University. But Let's get back to this.

Presentation: but then anytime somebody discovers me, they instantly hire me. Because now I'm an authority on whatever subject it is they want. If they found me on a retaining wall or a grating, I can't tell you how many times they call my office and when I show up to work, they go "you're hired". And I'm not special. I'm just a contractor that puts home fricken movies up on the internet that people watch. You guys can do the exact same thing. It's nothing special. Here's a few things that I want you to do. You guys don't need to be YouTube Superstars. You're going to learn a lot about being the YouTube Superstar today. Okay? But I want you guys to think of it this way; the most important things that you can do to your customer is be the person they recognize when you show up. When anyone of you guys show up on a job site they want to see your face. When you go to be on camera, be friendly, smile, be engaging. Talk about the job, have pride, show them the work that you're doing and that's really the main component of success. So when you guys get up to the job site, they know who you are they feel comfortable with you and when you give them their numbers it's almost like somebody they know from church is giving them their numbers. You become more of an authority in your local marketplace. Real quick, I've got about a minute left one of the things I want to talk about is the difference between what Matt said and the difference what you guys need to do as contractors, you guys, if you do ponds in St.Charles, Illinois use that. Those key catch words of what your local audience is going to be searching for. Ponds, St.Charles, Illinois. Waterfalls, water features. Okay. These are all things- You don't need to be a YouTube Superstar you're not trying to make your living off from YouTube like we are. Right? You're trying to make your living off from having your local target audience find you, get familiar with who you are, and be so comfortable with you before you show up at the numbers you give them don't really matter. Right? That's the most important thing isn't it? That's why you guys are here. You want to learn about it. You get the best collection of people here that you could ever deal with but just separate yourself from the YouTube Superstars to what you guys need to apply locally in your market. 

Greg: How long did it take you to get a 100,00 subs, and how long for 200,000?

Presentation: Okay. So I became obsessed with it Greg. It took me 5 years to get a 100 subs. Then it took me a year after that to get 5,000. Then a year after that to get to 33,000, then 200,000 and 200,000. 

Greg: [inaudible 00:16:32] a 100,000 subs then you had 200 how long was that timeframe?

Presentation: That was 8 months. So it took me a total of 8 years to get to 100,000 subs. And then when I started to tweak my analytics from the advice that I got from Bryan, I went in 8 years from 200,00 subs to 8 months to 200,000 subs. 

Presentation: Thank you guys. Everyone of you guys. If you guys ever need more information we have an organization called Dirt Monkey University. We have 350 contractors that work together to help each other grow. You guys are more than welcome to come check it out. 

White shirt: This is totally rigged. Why did they put you first? 

Stan 1:1: One universal rule. It applies over and over and over again, is you get out of something whatever you're willing to put into it. Now you guys are probably putting your heart and soul into your business but you still feel like you're pounding your head against a brick wall. That's because a lot of you guys aren't putting into your brain enough information and experience and it doesn't have to be you figuring it out. Don't reinvent the wheel. What I'm telling you is use and leverage the abilities and experience of people that have already walked down that path that you want to travel. Hindsight is 20/20. If you want to be successful and you want to build a half a million or a million dollar business don't try to figure that out all by yourself. Just ask somebody that's built a half a million or a million dollar business. It's simple.

Stan 1:1: That's why we created Dirt Monkey University. Guys! We have people inside of our mastermind group that are doing $100,000 per month. We have guys inside of our group that are doing $400,000 per month and these guys aren't flies on the wall. These are guys that are available to help other people do the exact same thing. There's 350 of us working together. Remember, you get out whatever you put in, so if you decide that you do want to join Dirt Monkey University and you want to sit back and watch what happens, forget it. Don't join Dirt Monkey University. But if you do want to succeed then jump into the group and literally start communicating. Start talking with the other members because you are going to find that success lies within all 350 people working together as a team. That's what we are and that's what we'd love to have you as well. The link is down below this video. Dirt Monkey University it's the mastermind group if it sounds like it's right for you give it a try. A week for free, after that, 69 bucks a month. God bless. Go get them you guys.

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