Podcast Notes Playlist: Business

David Yarrow on Art, Markets, Business, and Combining It All | Brought to you by Honey, Thrive Market, and LegalZoom

"I must never again put myself in a position where my work ethic can be undone by things totally beyond my control." — David Yarrow

In his genre, David Yarrow (@davidyarrow) is one of the world’s best-selling fine art photographers. Most recently, he has focused on capturing the animal and human worlds in fresh and creative ways, with philanthropy and conservation central to this drive. In 2019, charitable donations from the sale of David’s images exceeded $2.5 million.

David’s photography of life on earth has earned him a large and ever-growing following among art collectors, and he is now represented by some of the top contemporary fine art galleries around the world. In the last two years, three of Yarrow’s works have sold for more than $100,000 at Sotheby’s auctions in London and New York, and UBS has also appointed David as its global ambassador.

In this conversation, we'll talk about his photography, but also touch on how his double life as a hedge fund manager informed his art.

You can buy David’s #1 best-selling book with a $50 discount and a one-year free subscription to his new quarterly photographic journal at davidyarrow.photography/Tim. 

Please enjoy!

This episode is brought to you by Honey! Honey is a free browser extension that finds promo codes for you and automatically applies them to your shopping cart. Just shop at your favorite sites, click the Honey button that drops down at checkout, and wait a few seconds as Honey scans its database of all the working coupons for that site. And watch the prices drop. Honey has found its 17+ million members over 2 billion dollars in savings. If you don’t already have Honey, you could be missing out on free savings. Get Honey for free at Join Honey.com/TIM.

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This episode is also brought to you by Thrive Market, which saves me a ton of money and is perfect for these crazy times. Thrive Market is a membership-based site on a mission to make healthy living easy and affordable for everyone. You can find all types of food, supplements, nontoxic home products, clean wine, dog food—just about anything. Members earn wholesale prices every day and save an average of $30 on each order. I personally saved $39 on my most recent order. 

Go to ThriveMarket.com/tim to give Thrive Market a try! You can choose the membership model that best fits your lifestyle.

They have affordable one-month and 12-month options. When you go to ThriveMarket.com/tim, you can receive up to $20 in shopping credit. Start a risk-free membership today, as you can cancel for any reason within your first 30 days for a full refund.

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This episode is also brought to you by LegalZoom. I’ve used this service for many of my businesses, as have quite a few of the icons on this podcast, including Automattic CEO Matt Mullenweg of WordPress fame. LegalZoom is a reliable resource that more than a million people have already trusted for everything from setting up wills, proper trademark searches, forming LLCs, setting up non-profits, or finding simple cease-and-desist letter templates.

LegalZoom is not a law firm, but it does have a network of independent attorneys available in most states who can give you advice on the best way to get started, provide contract reviews, and otherwise help you run your business with complete transparency and up-front pricing. Learn more at LegalZoom.com.

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If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests.

For show notes and past guests, please visit tim.blog/podcast.

Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.

For transcripts of episodes, go to tim.blog/transcripts.

Interested in sponsoring the podcast? Please fill out the form at tim.blog/sponsor.

Discover Tim’s books: tim.blog/books.

Follow Tim:

Twitter: twitter.com/tferriss 

Instagram: instagram.com/timferriss

Facebook: facebook.com/timferriss 

YouTube: youtube.com/timferriss

John Paul DeJoria — From Homelessness to Building Paul Mitchell and Patrón Tequila | Brought to you by eero and LinkedIn Marketing Solutions

"Don't limit yourself in life by your age, or what you think you're capable of doing. You're always as old as your mind leads you to believe." — John Paul DeJoria

John Paul DeJoria is an American entrepreneur and philanthropist who has launched multiple global enterprises and is renowned as one of the “100 Greatest Living Business Minds” by Forbes.

John Paul DeJoria’s rags-to-riches biography is incredible and truly exemplifies the American dream. Once homeless, he has struggled against the odds to craft a unique life and many unique businesses.

In 1980, John Paul and hair stylist Paul Mitchell converted a partially borrowed $700 into 

John Paul Mitchell Systems, which is today the largest privately held salon hair care line. In 1989, he co-founded Patrón, the first ultra-premium tequila, and now the world’s number-one ultra-premium tequila, which he sold to Bacardi in 2018. John Paul went on to co-found John Paul Pet, ROKiT, and many other enterprises. 

He has signed The Giving Pledge, along with others like Bill Gates and Warren Buffet, as a formal promise to continue giving back, and he has also established JP’s Peace, Love & Happiness Foundation as a hub for his charitable investments, which span the core values of his companies: sustainability, social responsibility, and animal-friendliness.

This episode was recorded in March of 2020. Due to technical issues, we moved from Skype to phone partway through the interview.

This episode is brought to you by eero! eero is the WiFi your home deserves, blanketing it with fast, reliable WiFi. And not just inside but outside too. eero extends your coverage so you can enjoy the nicer weather and get work done from your deck. eero eliminates poor coverage, dead spots, and buffering. You’ll have a consistently strong signal wherever you need it.

eero sets up in minutes, plugging right into your modem or modem/router box. And you manage it from a super-simple app with some very cool features—like pausing the WiFi for dinner and receiving alerts if any device attempts to join your network. Go to eero.com/tim and enter code “tim” at checkout to get free next-day shipping with your order! 

This episode is also brought to you by LinkedIn Marketing Solutions, the go-to tool for B2B marketers and advertisers who want to drive brand awareness, generate leads, or build long-term relationships that result in real business impact.

With a community of more than 660 million professionals, LinkedIn is gigantic, but it can be hyper-specific. You have access to a diverse group of people all searching for things they need to grow professionally. LinkedIn has the marketing tools to help you target your customers with precision, right down to job title, company name, industry, etc.  To redeem your free $100 LinkedIn ad credit and launch your first campaign, go to LinkedIn.com/TFS!

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If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests.

For show notes and past guests, please visit tim.blog/podcast.

Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.

For transcripts of episodes, go to tim.blog/transcripts.

Interested in sponsoring the podcast? Please fill out the form at tim.blog/sponsor.

Discover Tim’s books: tim.blog/books.

Follow Tim:

Twitter: twitter.com/tferriss 

Instagram: instagram.com/timferriss

Facebook: facebook.com/timferriss 

YouTube: youtube.com/timferriss

Business Lunch with Roland Frasier

Podcast Notes Key Takeaways

• If you have an absolute secret you don’t want your negotiating opponent to discover, construct several “false walls” that you can allow them to “breakthrough”
  • Breaching the “false walls” gives them the pleasure of getting something, which will help you to protect your most precious negotiating points
• “When faced with an opponent who has superior leverage, cooperate with them, and work collaboratively to find out what they really want” – Roland Frasier
• Realize that you likely won’t be able to get everything that you want
  • However, if you pay attention to what your opponent wants, then you can control the frame by “printing the label” on each negotiating point to achieve your objectives within the terms of their rules

Read the full notes @ podcastnotes.org

Roland Frasier is a phenomenal negotiator. Not only was he a business lawyer for 12 years, but Roland has also founded, scaled, or sold 24 different 7 to 9 figure businesses ranging from consumer products to industrial machine manufacturing companies with adjusted sales ranging from $3 million to $337 million. You don’t manage that kind of success without knowing a thing or two about negotiating. So listen in today for some excellent principles to help guide you through a tough negotiation. 

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends. If you find yourself needing to do some negotiating right now, you may also find this episode, and this episode (both with Roland) useful.

The Bouchard Story

Back in World War 2, in the 1940s, the Nazis occupied France, and parts of Burgundy were under their control. Orders were given to appropriate large quantities of lower quality French Burgundy for the troops, and higher quality wines were to be purchased and sent to Germany for the officers and higher-ups.

To save as much of their better wine that had not already been designated “Grand Cru,” several of the local producers gathered and established a new designation, “Premiere Cru,” to permit that wine to avoid appropriation.

The plan worked, and that saved quite a bit of wine. But, the best wine of the region was also at risk, and even if the wine was being purchased for the officers, the French didn’t want all of it to leave their region to be lost forever.

Several of the winemakers built false walls in their large, sprawling cellars beneath the city of Beaune in the heart of Burgundy to hide their most precious wines. Among those was Bouchard Pere et Fils (which Roland recently had the pleasure of visiting). Bouchard has an immense underground cellar that covers several blocks beneath the city above, and this cellar stores millions of bottles dating back to the mid-1800s. They chose one of their off the beaten path cellar rooms that held about 35,000 bottles as the primary storage spot for their best wines and then built a false wall behind which to hide their liquid treasure.

However, false walls were not uncommon, and the Nazis knew that they were likely to exist in cellars, so they were not shy about breaking through walls at the end of cellar corridors to check and see if anything was hidden behind them. So, when they arrived at Bouchard’s cellars, the Nazi soldiers did indeed knock down and break through the false wall Bouchard had built.

However, rather than finding the most precious wines, they found a cache of lesser wines instead and, delighted that they had foiled the winemaker’s attempt to hide these bottles, took them all away.

What they did not know, however, was that Bouchard had built not one false wall between its prized 35,000 bottles and the main cellar, but three, and cleverly stashed a large quantity of lesser wine bottles behind each false wall so that the Nazi’s would believe they had found the best wines and not go any further. Fortunately, the soldiers were not well-versed in French Burgundy terroir and therefore were unable to discern the quality level of the wines they found hidden behind the first wall.

The plan worked, and thankfully, the most prized bottles survived throughout the war, hidden safely away behind two additional false walls.

There are several lessons in business and negotiation that we can take from what Bouchard did.

Lesson #1: Construct “False Walls”

Whenever you have an absolute that you cannot give on and do not want your negotiating opponent to discover, take the time to construct several “false walls” that you can allow them to “breakthrough.”

This will allow you to give them the pleasure of getting something in return as you concede the issues that you are perfectly comfortable conceding, which will, in turn, be more likely to allow you to protect your most precious negotiating points.

Listen for Roland’s examples!

Lesson #2: Collaborate & Infiltrate

The French resistance could have opted to take a stand in the cellars and fight it out with the Nazis, but that would have risked the destruction of the cellars and the wine within, as well as the loss of hundreds of French lives.

When faced with an opponent who has superior leverage, cooperate with them, and work collaboratively to find out what they really want. You can usually learn quite a bit by asking questions to get to the bottom of what your opponent really wants. Remember, humans are emotional creatures, and often there is some emotion underlying every human desire. Your opponent may not even know the thing they actually want from the negotiation.

In the case of the Nazis, they wanted wine for the troops and themselves, to escape the horrors of war and to fulfill the orders of their commanders. They didn’t necessarily want or need the very best wine the French had created.

Giving them something that fit the rough description of the physical thing the Nazis wanted (wine in bottles) satisfied the desire for something with enough alcohol to provide an escape and physical bottles to send to their superiors back home in Germany.

“In your negotiations, always ask questions. The person on the other side may tell you they need a $2.5 million purchase price for their company. Still, by asking questions, you may find their real underlying desires are to escape the monotony of a business they no longer enjoy and to provide $250,000 to start the new venture they are salivating to start.” Roland Frasier

If you can satisfy their emotional needs to leave the existing business and start the new one by providing them with $250,000, you have a good chance of drastically reducing the purchase price, maybe even by as much as 90%!

Lesson #3: “Print the Label”

In the case of Bouchard, they were well-aware that they would have to give up much of their lesser wines to the invading Nazis. They knew that they couldn’t protect everything. So, they accepted that fact and created a dividing line between their most sacred bottles (the 35,000 Grand Cru hidden behind the three false walls), their medium quality wines (the ones they hastily designated Premiere Cru), and their least valuable, and most easily replaceable table wines.

The Nazis made the rule that Grand Cru was not to be appropriated and sent to the troops.

The French did not want to destroy their designation system by suddenly elevating all wines to Grand Cru, so they literally printed a new label with a new premium wine designation (Premiere Cru) to protect the wine from appropriation.

As you negotiate, realize that you most likely won’t be able to get everything that you want, but if you pay attention to what your opponent wants (see Lesson #2 above), then you can control the frame by “printing the label” on each negotiating point to achieve your objectives within the terms of their rules.

Listen For Roland’s Examples!

Conclusion

Take these three negotiating lessons from Burgundy, the Nazis, and the 3 Walls and use them in your day-to-day negotiations. Construct “false walls,” collaborate and infiltrate, and print the label.

Whether you’re negotiating corporate acquisitions or just trying to get kids to do their homework, this stuff works and can help everyone reach a happy agreement faster.

Click to find us on Apple Podcasts and other podcast players. 

Contact & Follow Roland

On Facebook 

On Instagram 

Through his Website 

Follow Business Lunch Podcast

On Twitter

Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

Click to find us on Apple Podcasts and other podcast players. 

Business Lunch with Roland Frasier

Podcast Notes Key Takeaways

• If you have an absolute secret you don’t want your negotiating opponent to discover, construct several “false walls” that you can allow them to “breakthrough”
  • Breaching the “false walls” gives them the pleasure of getting something, which will help you to protect your most precious negotiating points
• “When faced with an opponent who has superior leverage, cooperate with them, and work collaboratively to find out what they really want” – Roland Frasier
• Realize that you likely won’t be able to get everything that you want
  • However, if you pay attention to what your opponent wants, then you can control the frame by “printing the label” on each negotiating point to achieve your objectives within the terms of their rules

Read the full notes @ podcastnotes.org

Roland Frasier is a phenomenal negotiator. Not only was he a business lawyer for 12 years, but Roland has also founded, scaled, or sold 24 different 7 to 9 figure businesses ranging from consumer products to industrial machine manufacturing companies with adjusted sales ranging from $3 million to $337 million. You don’t manage that kind of success without knowing a thing or two about negotiating. So listen in today for some excellent principles to help guide you through a tough negotiation. 

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends. If you find yourself needing to do some negotiating right now, you may also find this episode, and this episode (both with Roland) useful.

The Bouchard Story

Back in World War 2, in the 1940s, the Nazis occupied France, and parts of Burgundy were under their control. Orders were given to appropriate large quantities of lower quality French Burgundy for the troops, and higher quality wines were to be purchased and sent to Germany for the officers and higher-ups.

To save as much of their better wine that had not already been designated “Grand Cru,” several of the local producers gathered and established a new designation, “Premiere Cru,” to permit that wine to avoid appropriation.

The plan worked, and that saved quite a bit of wine. But, the best wine of the region was also at risk, and even if the wine was being purchased for the officers, the French didn’t want all of it to leave their region to be lost forever.

Several of the winemakers built false walls in their large, sprawling cellars beneath the city of Beaune in the heart of Burgundy to hide their most precious wines. Among those was Bouchard Pere et Fils (which Roland recently had the pleasure of visiting). Bouchard has an immense underground cellar that covers several blocks beneath the city above, and this cellar stores millions of bottles dating back to the mid-1800s. They chose one of their off the beaten path cellar rooms that held about 35,000 bottles as the primary storage spot for their best wines and then built a false wall behind which to hide their liquid treasure.

However, false walls were not uncommon, and the Nazis knew that they were likely to exist in cellars, so they were not shy about breaking through walls at the end of cellar corridors to check and see if anything was hidden behind them. So, when they arrived at Bouchard’s cellars, the Nazi soldiers did indeed knock down and break through the false wall Bouchard had built.

However, rather than finding the most precious wines, they found a cache of lesser wines instead and, delighted that they had foiled the winemaker’s attempt to hide these bottles, took them all away.

What they did not know, however, was that Bouchard had built not one false wall between its prized 35,000 bottles and the main cellar, but three, and cleverly stashed a large quantity of lesser wine bottles behind each false wall so that the Nazi’s would believe they had found the best wines and not go any further. Fortunately, the soldiers were not well-versed in French Burgundy terroir and therefore were unable to discern the quality level of the wines they found hidden behind the first wall.

The plan worked, and thankfully, the most prized bottles survived throughout the war, hidden safely away behind two additional false walls.

There are several lessons in business and negotiation that we can take from what Bouchard did.

Lesson #1: Construct “False Walls”

Whenever you have an absolute that you cannot give on and do not want your negotiating opponent to discover, take the time to construct several “false walls” that you can allow them to “breakthrough.”

This will allow you to give them the pleasure of getting something in return as you concede the issues that you are perfectly comfortable conceding, which will, in turn, be more likely to allow you to protect your most precious negotiating points.

Listen for Roland’s examples!

Lesson #2: Collaborate & Infiltrate

The French resistance could have opted to take a stand in the cellars and fight it out with the Nazis, but that would have risked the destruction of the cellars and the wine within, as well as the loss of hundreds of French lives.

When faced with an opponent who has superior leverage, cooperate with them, and work collaboratively to find out what they really want. You can usually learn quite a bit by asking questions to get to the bottom of what your opponent really wants. Remember, humans are emotional creatures, and often there is some emotion underlying every human desire. Your opponent may not even know the thing they actually want from the negotiation.

In the case of the Nazis, they wanted wine for the troops and themselves, to escape the horrors of war and to fulfill the orders of their commanders. They didn’t necessarily want or need the very best wine the French had created.

Giving them something that fit the rough description of the physical thing the Nazis wanted (wine in bottles) satisfied the desire for something with enough alcohol to provide an escape and physical bottles to send to their superiors back home in Germany.

“In your negotiations, always ask questions. The person on the other side may tell you they need a $2.5 million purchase price for their company. Still, by asking questions, you may find their real underlying desires are to escape the monotony of a business they no longer enjoy and to provide $250,000 to start the new venture they are salivating to start.” Roland Frasier

If you can satisfy their emotional needs to leave the existing business and start the new one by providing them with $250,000, you have a good chance of drastically reducing the purchase price, maybe even by as much as 90%!

Lesson #3: “Print the Label”

In the case of Bouchard, they were well-aware that they would have to give up much of their lesser wines to the invading Nazis. They knew that they couldn’t protect everything. So, they accepted that fact and created a dividing line between their most sacred bottles (the 35,000 Grand Cru hidden behind the three false walls), their medium quality wines (the ones they hastily designated Premiere Cru), and their least valuable, and most easily replaceable table wines.

The Nazis made the rule that Grand Cru was not to be appropriated and sent to the troops.

The French did not want to destroy their designation system by suddenly elevating all wines to Grand Cru, so they literally printed a new label with a new premium wine designation (Premiere Cru) to protect the wine from appropriation.

As you negotiate, realize that you most likely won’t be able to get everything that you want, but if you pay attention to what your opponent wants (see Lesson #2 above), then you can control the frame by “printing the label” on each negotiating point to achieve your objectives within the terms of their rules.

Listen For Roland’s Examples!

Conclusion

Take these three negotiating lessons from Burgundy, the Nazis, and the 3 Walls and use them in your day-to-day negotiations. Construct “false walls,” collaborate and infiltrate, and print the label.

Whether you’re negotiating corporate acquisitions or just trying to get kids to do their homework, this stuff works and can help everyone reach a happy agreement faster.

Click to find us on Apple Podcasts and other podcast players. 

Contact & Follow Roland

On Facebook 

On Instagram 

Through his Website 

Follow Business Lunch Podcast

On Twitter

Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

Click to find us on Apple Podcasts and other podcast players. 

Business Lunch with Roland Frasier

Podcast Notes Key Takeaways

• To license means to grant someone else permission for the use of something while you still retain ownership
  • For example, George Foreman didn’t invent the George Foreman Grill, he licenses out his name and likeness to the company that made the grill
• An advantage of licensing is that you don’t take on much risk while still getting the upside
  • The licensee takes on the manufacturing, distribution, and advertising costs while the licenser risks the possibility of hurting the brand of the license
• Licensing is comparatively easier and more profitable for most people because of all the risks and costs associated with creating and selling a product yourself
• Profit cloning is Bob’s replicable method of guaranteeing success for a product
  • “I almost never invent an original product, what I do instead is invent an improvement for a product that’s selling really well”
• Licensing Strategies:
  • Certifications
    • Licensing a service or training program that provides a certification that must be renewed 
  • IP Licenses
    • Licensing a process or intangible product/service as intellectual property
  • Repeating Circuit Joint Ventures
    • Brokering repeatable joint venture licenses between companies
  • Tollgates
    • Whenever you provide a good/service the customer will have additional needs that need satisfying. You can act as a ‘tollgate’ and lead them to providers who will satisfy those needs.

Read the full notes @ podcastnotes.org



With No Risk, And No Cost.

Sounds good right?

Most companies don’t realize that almost anything that a business owns is an asset that can be licensed, whether that’s a service, a process, a training program, a Physical Product, Intellectual Property, such as marketing systems, or, your name and image! Any asset can be licensed. 

Bob Serling of Licensing Lab helps companies turn their assets into 6 and 7 figure profit centers. He’s a 30-year marketing veteran AND the founder of Profit Alchemy, Inc. Serling shares how he invented a skateboard toy featuring Tony Hawk’s branding, that was sold worldwide. Bob also co-created and marketed advanced assessment software currently being used by many Fortune 500 companies. This is a fascinating and super helpful episode. As always, Roland asks questions that most people don’t.

Serling and Roland discuss inventions and product development but focus on licensing and how YOU can explore these possibilities too.  Serling shares some famous examples as well as a deep dive into how this all works. Listen if you want to bring these kinds of deals together.

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends. You can also learn more from Bob, by downloading his free E-Book.

“It’s really important that people realize, they do their business on a day to day basis, but those relationships you’ve built are leverageable assets. But most people don’t think that way”. Bob Serling

Listen For,

• The 25 Million Dollar letter (that he licensed and went on to make even more from).
• The nuts and bolts of brokering a deal.
• How to make money connecting people.
• When to turn your most significant expenses into profit centers. 
• Lesser-known advantages to licensing.

Five of Bob’s Top Licensing Strategies

1. Process & IP Licenses
2. Profit Cloning
3. Exponential Tollgates (The 25 Million Dollar Letter)
4. Certifications
5. Repeating Circuit Joint Ventures
   

“Any time you get greedy, deals fall apart real quickly”. Bob Sterling

Including, Bob’s Secrets To Successful Inventions (“Profit Cloning”).

• How he Invents something that’s guaranteed to be successful.
• How to research invention ideas and his personal “Profit Cloning” process that has proven successful.
• The stiff challenges of getting an invention to market, and how he gets around that.

And So Much More! Click to find us on Apple Podcasts and other podcast players. 

Contact Bob Serling

By downloading his free E-Book, The Licensing Solution.

Contact & Follow Roland

On Facebook 

On Instagram 

Through his Website 

Follow Business Lunch Podcast

On Twitter

Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

Click to find us on Apple Podcasts and other podcast players. 

Business Lunch with Roland Frasier

Podcast Notes Key Takeaways

• To license means to grant someone else permission for the use of something while you still retain ownership
  • For example, George Foreman didn’t invent the George Foreman Grill, he licenses out his name and likeness to the company that made the grill
• An advantage of licensing is that you don’t take on much risk while still getting the upside
  • The licensee takes on the manufacturing, distribution, and advertising costs while the licenser risks the possibility of hurting the brand of the license
• Licensing is comparatively easier and more profitable for most people because of all the risks and costs associated with creating and selling a product yourself
• Profit cloning is Bob’s replicable method of guaranteeing success for a product
  • “I almost never invent an original product, what I do instead is invent an improvement for a product that’s selling really well”
• Licensing Strategies:
  • Certifications
    • Licensing a service or training program that provides a certification that must be renewed 
  • IP Licenses
    • Licensing a process or intangible product/service as intellectual property
  • Repeating Circuit Joint Ventures
    • Brokering repeatable joint venture licenses between companies
  • Tollgates
    • Whenever you provide a good/service the customer will have additional needs that need satisfying. You can act as a ‘tollgate’ and lead them to providers who will satisfy those needs.

Read the full notes @ podcastnotes.org



With No Risk, And No Cost.

Sounds good right?

Most companies don’t realize that almost anything that a business owns is an asset that can be licensed, whether that’s a service, a process, a training program, a Physical Product, Intellectual Property, such as marketing systems, or, your name and image! Any asset can be licensed. 

Bob Serling of Licensing Lab helps companies turn their assets into 6 and 7 figure profit centers. He’s a 30-year marketing veteran AND the founder of Profit Alchemy, Inc. Serling shares how he invented a skateboard toy featuring Tony Hawk’s branding, that was sold worldwide. Bob also co-created and marketed advanced assessment software currently being used by many Fortune 500 companies. This is a fascinating and super helpful episode. As always, Roland asks questions that most people don’t.

Serling and Roland discuss inventions and product development but focus on licensing and how YOU can explore these possibilities too.  Serling shares some famous examples as well as a deep dive into how this all works. Listen if you want to bring these kinds of deals together.

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends. You can also learn more from Bob, by downloading his free E-Book.

“It’s really important that people realize, they do their business on a day to day basis, but those relationships you’ve built are leverageable assets. But most people don’t think that way”. Bob Serling

Listen For,

• The 25 Million Dollar letter (that he licensed and went on to make even more from).
• The nuts and bolts of brokering a deal.
• How to make money connecting people.
• When to turn your most significant expenses into profit centers. 
• Lesser-known advantages to licensing.

Five of Bob’s Top Licensing Strategies

1. Process & IP Licenses
2. Profit Cloning
3. Exponential Tollgates (The 25 Million Dollar Letter)
4. Certifications
5. Repeating Circuit Joint Ventures
   

“Any time you get greedy, deals fall apart real quickly”. Bob Sterling

Including, Bob’s Secrets To Successful Inventions (“Profit Cloning”).

• How he Invents something that’s guaranteed to be successful.
• How to research invention ideas and his personal “Profit Cloning” process that has proven successful.
• The stiff challenges of getting an invention to market, and how he gets around that.

And So Much More! Click to find us on Apple Podcasts and other podcast players. 

Contact Bob Serling

By downloading his free E-Book, The Licensing Solution.

Contact & Follow Roland

On Facebook 

On Instagram 

Through his Website 

Follow Business Lunch Podcast

On Twitter

Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

Click to find us on Apple Podcasts and other podcast players. 

Knowledge Project

Podcast Notes Key Takeaways

• Why was no one aware of Enron’s failure earlier?
  • “Skepticism about business tends to travel in a very small circle, companies won’t speak ill of their competitors…employees can’t speak publicly…so there’s this odd veil over the information you most want to know” – Bethany McLean
• Many people have a simplistic view that companies that end up doing illegal activities are run by bad apples who are deliberately making bad decisions, but that’s often not the case
  • “I’ve really come to believe that very few white-collar crimes or stories of business gone wrong, are done by people who deliberately set out to deceive other people” – Bethany McLean
• There’s a thin line between visionary and fraud
  • Perhaps Elizabeth Holmes could’ve succeed in creating a breakthrough medical product if she had another billion dollars
    • “I think for some fraudsters it maybe would’ve worked if they had just gotten more time and been able  to keep getting money” – Bethany McLean
• How could companies prevent this type of bad behavior?
  • Provide stock options for top executives with the goal of the company being around for the next 100 years
    • “As long as you have a system of incentives where people can get paid even if the company ends up bankrupt, I think it’s going to be problematic” – Bethany McLean
• If you’re thinking of writing a story and you’re reading about something you don’t understand, that’s often where a good story is hidden
  • “That’s the place where everybody else is skipping over too” – Bethany McLean
• Writing is just work, that’s it
  • “The more you do it, the better you get at it but it’s really hard” – Bethany McLean

Read the full notes @ podcastnotes.org

Best-selling author of The Smartest Guys in the Room and All the Devils are here, Bethany McLean, discusses how to write a story, the behaviors of CEO’s, visionaries and fraudsters and so much more.

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Barbara Corcoran is famous for being on Shark Tank. Maybe she should be even more famous for bold predictions about the commercial real estate market? Listen to this episode of Business Casual to find out why.

Twenty Minute VC

Podcast Notes Key Takeaways

• “Right now and going forward, whatever time it takes to get through the other side, it’s going to be the best time in the history of mankind to ever start a business because there are no rules. Everything is open for negotiation.” – Mark Cuban
  • If you’ve been fired or furloughed, this is the best time to start your business
    • “Now’s the time to do it”
• Mark views Silicon Valley investors as Old Hollywood. In Old Hollywood, everyone was trying to be an actor; In Silicon Valley, everyone is trying to be an investor.
• “Sales cures all. There’s never been a company in the history of companies that’s ever succeeded without sales.” – Mark Cuban
  • “If the CEO doesn’t believe their product enough to sell it, then nobody else is either”
• “You’re never going to accelerate unless you delegate” – Mark Cuban
• “Hire slow and fire fast” – Mark Cuban

Read the full notes @ podcastnotes.org

Mark Cuban is a serial entrepreneur, investor, and owner of the Dallas Mavericks. His career began with his founding of MicroSolutions, a company he went on to sell to CompuServe in 1990. Then in 1995 Mark co-founded Broadcast.com - streaming audio over the internet. In just four short years, Broadcast.com (then Audionet) was sold to Yahoo for $5.6 billion dollars. Following the acquisition in 2000, Mark acquired the Dallas Mavericks where since his taking over they have competed in the NBA Finals for the first time in franchise history in 2006 - and becoming NBA World Champions in 2011. They are currently listed as one of Forbes' most valuable franchises in sports. If that was not enough, Mark is also one of ABC's "Sharks" on the hit show Shark Tank.

In Today’s Episode You Will Learn:

1.) How Mark made his way into the world of technology and startups having been fired from his first job in sales?

2.) How does Mark evaluate his relationship to wealth and money? How has that changed over time? What advice does Mark have to those that tie happiness and money together?

3.) What does Mark think about Silicon Valley investors today? Why does he believe they and the valley are like Hollywood? Why does Mark believe that if the greatest tech companies of today had been started elsewhere, they would be more successful?

4.) How does Mark evaluate his own investing philosophy today? How does Mark think about price and price sensitivity? Why is Mark so keen to have his investment funded from the cashflow of the business? Does this not narrow opportunity and limit upside? How does Mark evaluate risk today?

5.) Why does Mark believe post-COVID is the single greatest time to be an entrepreneur? What advice would he give to an entrepreneur starting their new business in this time? How would Mark go about the re-opening of society post lockdown?

Items Mentioned In Today’s Show:

Mark’s Fave Book: Rebooting AI: Building Artificial Intelligence We Can Trust, Healthy Buildings: How Indoor Spaces Drive Performance and Productivity

As always you can follow Harry, The Twenty Minute VC and Mark and on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

What Got You There with Sean DeLaney

Podcast Notes Key Takeaways

• It took Daniel roughly 10 years to open up his first restaurant
  • Working with young chefs gave Daniel the confidence that by working together, they could make it in America
    • “Still today, I am always driven by my team, by the people working with me” – Daniel Boulud
• To be successful, study your mentors 
  • “Since I started to be a chef, I always observed my mentor very carefully and also the leading people carefully in their organization” – Daniel Boulud
    • “When you start to understand the thought process of someone, I think you learn a lot from it”
• If you’re a young chef, it’s important to understand the expectations of the restaurant, your boss, and the customers
• The food is the most important thing in a restaurant, but also keep in mind the ambiance, service, and price of the food
  • At the end of the day, restaurants are in the entertainment business
    • “We are cooking and entertaining you for a couple of hours” – Daniel Boulud
• The hard truth about being a great chef:
  • “When you think of great chefs in the world, you don’t really remember them for the thousands and thousands dishes they’ve cooked. You only remember them for one or two dishes.” – Daniel Boulud

Read the full notes @ podcastnotes.org

Over the past 30 years few people if any have as impressive of a resume in the culinary world as world renowned Chef Daniel Boulud.

A native of Lyon, France Chef Boulud is considered one of America’s leading culinary authorities and one of the most revered French chefs.

Chef Boulud has also embraced the entrepreneurial spirit owning more than 15 restaurants all over the world and knows the inns and outs of every aspect of his business.

Boulud is the author of nine cookbooks, the recipient of multiple James Beard Foundation awards including “Outstanding Chef”, and “Outstanding Restaurateur”, he’s been awarded four Michelin Stars and in 2013 was inducted into the Culinary Hall of Fame.

If you want a behind the scenes look into of one of the best chefs of our generation then you’ll love this episode!

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