So the bigger the vision you have, the more important it is for you on what type of a
team you're going to put around you.
Simple as that.
And I think one of the challenges with people when it's about putting a team around them,
they want to be something they're not.
So it's everybody wants to be the Shaq or the LeBron or the Kobe instead of realizing
what your strength is.
I'm going to talk about that a little bit today.
I'm going to talk about 10 different roles, strengths and departments within a company.
So as you're looking at this, everybody that's looking at this, you may be at a different
position in your life.
You may be a salesperson, you may be an entrepreneur that's just getting started, maybe a mid-size
business, that you may look at this and say that this is where we lack or maybe somebody
that's an executive and an owner part of a company that's saying this is what area I
am very good at and I need to reposition myself here.
Regardless of where you're at, this is how I want you to look at this here.
This video is for you.
No one else.
I want you to look at this video as you.
And as I go through this, I need you to ask yourself, which one is me.
Give me your one, two, three, yourself.
I'm one this, two this, three this.
And, if you think that's you, verify it with somebody who knows you very well for them
to say I really think you're more this, this, this - if you're willing to get some honest
feedback from somebody.
So let's get right into it.
Look, 10 different roles within a company.
First, we have the biz dev.
And nothing is any specific order, I'm just telling you what's what.
First you have the biz dev, someone who's doing business development for the company.
What is biz dev?
Here's what biz dev is.
In the world of politics, if you're running a country, an ambassador that is a U.S. ambassador
that deals with relations in the Middle East -- hypothetically.
The biz dev person is doing the dirty work.
Very, very important role.
But they do the dirty work.
So you need to go out there and sit and talk to the political powers, the senators, the
congressmen, the president of a country in the Middle East - Iran, Kuwait, whatever it
is, and ask them.
They're going to say, "we really don't like your president, that he announced this, this,
this," or "We really don't like how this partnership or relationship's going.
We don't like how you're doing this."
That's biz dev.
And the ambassador is supposed to create a synergy of them still wanting to do business
together.
And bringing the relationship that possibly was sour, rekindle, this is strengthen, this
is rebuild, this is a lot of re, re, re -- that's biz dev, okay?
Next, we can go into the visionary.
The visionary is what a lot of people want to become visionaries but not everybody is
a visionary.
Let me explain to you what I mean by not everybody is a visionary.
If you ask in basketball, everybody wants to be like Mike.
Modern day.
Everybody wanted to be a Kobe.
Or everybody wants to be a LeBron James.
But maybe you're a Steve Kerr, you know?
Maybe you're somebody that's a, you know, Steph Curry.
Maybe you're somebody that's just a role player.
Maybe you're a sixth man.
Maybe you're a big guy that you don't have good footwork, but you're somebody that the
other centers get good on working with you because you're stronger, you're pushing them
and bullying them, you're strengthening them.
Maybe you're somebody that's good at playing with the guys and doing their legs and taping
and all this other stuff.
So what is the role you're playing?
A visionary would generally be called the CEO.
Now sometimes, some companies make the mistake of just because somebody's title is CEO, it
doesn't mean they're a visionary.
Sometimes companies make a mistake and they hire a operations person who becomes a CEO
and what this guy who's an operations internally but is the CEO, all he's trying to do is make
all the systems perfect.
And they're wondering how come the company's not exploding, because you're not a CEO.
You're operations.
You're a COO., not a CEO.
You're not a face.
You're not someone that's going to say, "We're going to go and take over this market."
Let me give you a good example of a CEO.
I'm going to butcher his name.
Roberto Goizueta - This guy is a fascinating guy to study.
He's a Cuban immigrant, went to Yale, just so you know this, he used to make $500 a month
as a chemical engineer, then he comes to America and somehow, some way, after being an immigrant
from Cuba, he becomes the CEO of Coca Cola and he goes from making $500 a month to getting
an $83 million bonus check when he worked at Coca Cola.
So why is this?
Why did this happen?
Well, for the longest time, for the longest time, Coca Cola dominated the marketplace.
For the longest time.
Now, in the early 80s, Pepsi started coming close to the point where Pepsi got 23% of
the market share and Coca Cola only had 22%.
Now, Roberto gets hired in 1981 I believe.
And his number I just gave you, 23% to 22%, Pepsi over Coke, Pepsi moved past Coke, first
time ever.
First time ever.
They passed Coke, Roberto comes in.
And here's what he asked.
Look at the way he thinks.
He says, Well, I want to know this.
The average human being, how much do they drink a day?
And they said, Roberto, this is how much we're selling right now, bottles of Coke.
He said, no, no.
I'm asking you how much do they consume of drinks per day.
What are you talking about?
Listen, how much does a person drink - water, milk, tea, juice, ice-tea, Coke -- I want
to know everything.
How much does a person drink?
They're like, Oh my God, where is this guy going with this thing here?
Here's how they drink.
Then he said, that's exactly what we need to do.
I want a bigger market share of how much somebody consumes of drinks.
Fascinating.
Look what happens then.
So what does he come out with?
Here's what he comes out with.
Most of us only know about Coca Cola, Diet Coke, Coke Zero, etc.
Ready?
Minute Maid is a Coke product, Fanta is a Coke product, Dasani water is a Coke product,
Nestea is a Coke product, Bicardi Mixers is a Coke product.
Okay?
Flavored milks, root beer, bottled juices, Zico coconut water -- you know how many people
like to drink coconut water - Powerade, his, Simply Orange his, Hi-C, his.
You know what ends up happening with Coca Cola?
Coca Cola goes from the top of numbers that we're putting up which in 1981 was 4.3 billion
dollars per year to 152 billion dollars per year.
They're today selling two billion Coca Cola bottles per day, two billion is what they
sell per day.
Now, why did that happen?
It happened because Coca Cola went and hired a visionary.
Not because they got an operations guy - they hired a visionary.
And the visionary said, we need to get more of this.
So are you a CEO type yourself?
That could motivate you, but maybe you're not the visionary type, and that's fine.
Operations, what's operations?
Systems, CRM, flow, how long does it take from the person that looks at your website
to buying the product to converting to being a be back customer, what can we make to get
these customers that we have.
We have 60,000 customers here, what can we do to get the 60,000 customers to help us
get to their 60,000 customers because we're so good on the front end, we're not doing
good on this side here.
What CRM do we need?
How can we get the calendars to be better, hiring new people, we need more staff here,
we need a person here, we need to fire this person, we need to renegotiate this here,
this thing's not working out, this vendor.
. . that's operations.
Operations are thinking like that.
Operations will come in and say, I can make the operations of this better.
So critical.
Maybe boring to some, it's so critical for the company.
So that would be a COO.
Then we have finance.
Finance is QuickBooks, payroll, commissions, vendor checks, attorneys, making sure attorneys,
you're negotiating the contracts with the attorneys the right way.
CPA, accounting, the team, assistant analyst, all these things that you're going to have
to do when you're running finance.
By the way, when you're a rookie entrepreneur, guess what you are?
Every one of them is what you are, okay?
So then you have the CFO on the finance side.
Then you have expansion.
Who's expansion?
Somebody that says, you know, we need to go to a brand new marketplace.
So expansion thinks about building a team together, for us to go to a new market.
This could be a Chief Expansion Officer -- there's actually a Chief Expansion Officer -- it sounds
like a CEO but it's a Chief Expansion Officer.
And they're job is simply, hey, we're not on the East Coast, we want to go into the
East Coast, what do we need to do?
Bop, bop, bop, bop, bop.
Great.
Hey, we're not in South America, what do we need to do?
. . . . . For you, it may be local.
Like somebody came and visited me when I was in Palm Springs.
He drove all the way down to come and visit me and he runs a mobile detailing company.
Which I'm very familiar with the mobile detailing company, and nowadays it's getting to the
app side, there's a lot of opportunity to that as well, similar to Uber that you just
order something and somebody comes and services your car, right?
And there's high end, $100, like right now, literally three minutes before I did the video,
my BMW i8, just got serviced.
Somebody comes, does it, you don't even see it, it gets done, they pick it up, they clean
it, right?
Okay.
So he came to me and he said, what do I do?
So he's in San Diego, and how does he get into maybe a Temecula market?
How does he get into Riverside?
How does he get into L.A.?
The expansion for that person may be within that area.
Somebody can put a strategy in how to do that.
Marketing.
Marketing is just very, very critical.
This could be a CMO.
Marketing could be when a customer thinks about our company, what's the first word that
comes to mind?
What do our employees think about our company?
What do our customers, what does the market, what does our competitors, what does our enemy
think about us?
How do we want to market our product?
Which funnels are we using?
Is it more about social media?
Is it more about Internet?
Should we go on T.V.?
What is our ROI on T.V.?
Are we really doing this because we want people to look at our commercial and come and buy?
They don't really do it for that, but maybe it's effective if we spend this 3.5 million
dollars to put a commercial on Super Bowl because our competitors are going to see that
we're doing better or, you know, maybe our existing customers are going to say, "Wow,
I'm so glad that's my guy, that's my guy," so it keeps our clients with us and keeps
them proud.
Or no, we don't need to do Super Bowl.
It's not our market.
Our market watches this or, you know, our demographic is people that are between 25
- 35 years old, our guys watch T.V.
Our guys don't watch soap operas.
Why are we wasting our time doing.
. . so marketing thinks that way.
Okay?
Complete different way.
Marketing in a way also thinks about, a person who's a marketer -- if you're a marketer,
you know how you think.
Marketer's think completely different.
They go into a restaurant and they literally look at everything as a marketer.
It's a complete different eyeball that they have.
Next is legal.
What's legal?
In every industry there's compliance.
There's laws, there's you know, making sure you are compliant with the regulators or whatever
- with the financial industry it's FINRA, it's SEC, you know, all these other things
that you're dealing with on that side.
And real estate it's going to be Department of Real Estate, the department of insurance
-- it doesn't matter what's you're doing.
Technology is going to be a whole different law -- anything, there is legal.
So you've got to make sure you have a strong legal team.
Sometimes the A-type personality, don't like to touch this because it's -- we don't need
any help with this.
Why would we worry about compliance?
C'mon, man.
No one cares about compliance.
Big mistake.
Because you need the contracting to be right.
. . I spend a lot of money in that area and I have no problem with it because it's very,
very critical to stay compliant with your business.
But you may be watching this and saying, that's me.
I love those types of things.
Phenomenal.
It could be information.
What's information?
Someone that's very good at research, someone that's very good at studying competition,
somebody that's very good at studying trends and keeping track of updating and saying,
just so you know, today in the market . . . AIG CEO was called out.
. . and this is what happened with him and they said this, and did you hear about what
happened today in the Silicon Valley marketplace, a new startup was raised 200 million dollars
on their round three and their going after this and did you hear about the Fintech market,
whatever.
Information guys are going to give you what is going on today.
And this is beneficial because this helps the visionary know how to go to the next level,
this helps the marketer know what adjustments to make, this helps the expansion person know
what marketplaces we need to go and expand and what not to waste our money and resources
into.
This helps finance know how to adjust, hey, this is what's going on over the next six
to 12 months, we should be experiencing this or we should be experiencing that.
That's information, so CIO.
Then you have product development and product development is what?
Product development is somebody that says, I'm designing a product.
Typically, product development are wired in a completely different way.
Completely different way.
They will take a look at this packaging and they'll say, you know, I wonder why they put
these four things in the back?
I don't like it.
I think it makes it flimsy and I think the packaging should be done a little bit different,
see how hard it is, this should be easier because when you do it this way, sometimes
it's tougher, so it takes three seconds to package this with the machine, and.
. . they just look at it different than you and I do.
A product development person could say, we need to come out with a mortgage product today
that is going to make the regulators happy because the regulators are very concerned
about not having a neg am product that's a payment or negative amortization, that's not
going to effect this, so to come out with this, but to make the cost low, why don't
we get rid of this?
Great.
They work in a completely different way.
Very important for product development to be in communication with the rest of the guys.
Regularly in the insurance agency I get calls and I sit on several different boards, that
they'll call me and they'll say, "What do you think the insurance, financial industry
needs to look at right now, next as a product?
And we'll have a long conversation about areas that I believe they need to completely change
and revolutionize because the insurance industry needs a lot of disruption right now.
Then you have sales.
By the way, nothing happens without sales.
Just so you know this.
So a lot of times, we put so much attention into everything else, so much attention, every
position is very important.
Every position is very important.
That you forget to put constant emphasis here [sales].
If you look at companies that go through this -- they start going through a downfall, you
will see, almost every single time, if it goes through this, 80% of the time, you can
go and point it to sales.
Why?
A great sales manager is no longer there.
A chairman of agency who was running the entire sales department has gotten too casual because
his bonuses are so easy now that he knows he's going to hit the bonus within four months,
and he's golfing four months out of the year.
You've got to make some changes to the bonus structure, right?
So you have a person that is barely working and you know nothing about it because everything
is based on no schedule, so you think he's working, but he's not and you need to make
an adjustment and go and partner with Salesforce.com because you need to make sure that the guys
are logging in every single day, what appointment they ran, and who was the person with and
put a number there and you need to run a minimum of this many appointments, you need to spend
this much money, you cannot spend more than this at a bar and . . . to track that.
You can see this.
You may be somebody watching this and saying, I'm a salesperson, I'm a great sales trainer,
I'm a great person that can build an army.
And here's the weird thing.
You want to know something?
They [sales] typically make more money than every one of these guys.
Just so you know this.
These guys typically make the most money.
I know this sounds strange.
They definitely make more money than these guys [finance through product development].
They make generally the most money, because if these guys are not getting paid, what's
the motivation behind -- the company's done.
You think Coca Cola survives without their guys that are going out there selling Coca
Cola to the local -- no, it's a done deal.
So sales is very, very critical.
You've got to look at this and you may say, "Pat, you know what, I'm very good with people.
I can pretty much go in a room and strike up a conversation with anybody and get information
and talk to people and they'll tell me anything and I'm a chameleon, I can get along.
. . well, you may be a biz dev person.
Good for you.
I'm a very strong sales person.
I can sell.
I'm good with sales.
I know how to ask the right questions.
I know that sales flow.
I'm good at teaching this.
Excellent.
I'm a visionary.
I'm this.
I'm that.
Regardless of what you are, you've got to really take an assessment of yourself and
ask, what is my strength, top three, what is my dominate one that I am?
For yourself.
And what can I do to become better at that by studying others who have done those areas.
Now the complete opposite side, if you're running a company, you've got to ask, who
is who?
What am Iacking?
Generally as a startup, you're going to wear seven different hats.
When you get started, you may be the visionary, the biz dev, the sales, the operations, the
finance, the expansion, all of these.
And you may have an attorney that you put on retainer that you have hired, but they're
helping you and you give them $10,000 as a retainer and everything else for you.
You're Chief Information Officer is a guy named Google.
You know, that's what you do.
You're Googling everything to find out what it is, right?
So it doesn't matter what it is.
Eventually if you want to compete at the higher market and if you want to get the bigger share
of whatever industry you're part of, you need all of these 10 different guys on your team
and you need to know which role you play the best and become the best you can within that
area, while knowing how all the other people are wired as well.
So hopefully today you may say, "Pat, so what was really the outcome of this video?"
To kind of know what each person does and to kind of know what's needed to build a strong
team, strong foundation, again, this is another one of those episodes that I can go three
more hours with you and just go dive extremely deep into this and break everything down and
address questions, but this is a simple video we're doing on the YouTube channel.
Maybe in another setting we'll have an opportunity to dive a little deeper into this subject.
So by the way, for those of you guys that are looking at these shirts, we've sold hundreds
of these around the world already.
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Everybody, if you consider yourself an entrepreneur, everybody ought to have this shirt.
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Bye bye.