Dan Martell - May 20, 2019


8 Business Lessons Learned From DirtFish (Rally Racing)


Episode Stats


Length

13 minutes

Words per minute

205.68636

Word count

2,819

Sentence count

100

Harmful content

Misogyny

1

sentences flagged

Toxicity

3

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, Dan Martell shares the 8 business lessons he learned from his time at Dirtfish Rally School, a rally car racing school just outside of Seattle. In this video, he talks about the business lessons learned from hucking and hoping into corners, racing around the trees, and almost killing ourselves.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
00:00:00.000 Hey there, Dan Martell here, serial entrepreneur, investor, and creator of SaaS Academy. In this
00:00:04.640 video, we have a special edition coming from just outside Seattle here at Dirtfish Rally School.
00:00:10.600 I'm going to share with you the eight business lessons learned, hucking and hoping into corners,
00:00:16.640 racing around the trees, almost killing ourselves. And this is a two-part video. So in this video,
00:00:21.640 I'll share the business lessons. And in the second video, I'm going to share a little something
00:00:25.480 different but be sure to watch next week because at the end i'm going to include a snippet of our
00:00:30.600 time and journey here at dirt fish so a few years ago i got an email from my buddy jason who runs a
00:00:48.520 group called mastermind talks or mmt asking if i wanted to join him in a group to come rally car
00:00:54.120 racing at Dirtfish and when I click the play button on the YouTube video to see
00:00:58.580 what this place is about my brain exploded because I was like I can't
00:01:02.520 believe this exists we're literally on acres of open terrains we've got
00:01:07.260 buildings we've got tight turns into the trees and I'm here with a group of
00:01:12.780 incredible entrepreneurs learning not only how to rally but in between
00:01:16.740 sessions also talking about our business and and you know having fun and talking
00:01:20.880 about opportunities and what I've learned the most what I want to share
00:01:23.700 with you guys is in listening to the instructors
00:01:26.480 and understanding what it takes to drive fast,
00:01:29.240 how to get around these turns with momentum
00:01:31.640 and to keep the lines and to actually be smooth.
00:01:34.980 There's all these business corollaries
00:01:37.220 that I had no clue would even come to me.
00:01:39.280 And what I wanna share in this video are the eight things
00:01:41.640 that I've taken away from racing that you can apply
00:01:45.080 to your business today to help you grow.
00:01:48.040 One, in like a lamb, out like a lion.
00:01:51.400 When it comes to racing and you're taking a turn, you're going to attack that turn.
00:01:55.700 It's better to come in, get rid of some speed, and come in slow so that once you get lined up for your exit,
00:02:01.560 you can power on, gas on, and just take off like a rocket ship out of that corner.
00:02:06.860 And I think too often in business, there's a lot of opportunities where we see these things that could be huge,
00:02:12.300 and we go all in. We charge hard. We're like committed, JFDI style.
00:02:17.180 But what I think is a better approach that I've really learned on this track is the idea that I first got from Jim Collins who talks about, you know, shoot bullets, then a cannonball, right?
00:02:27.740 If we're trying to aim towards a target, we want to take some shots with bullets and bullets, and we want to try to figure out where that bullet hits on the target.
00:02:34.400 and only once we feel like we've truly aligned
00:02:37.460 with the opportunity, we wanna fill up that cannonball 0.99
00:02:40.400 with some gunpowder and some cotton
00:02:42.000 and a big old steel circle sphere 0.55
00:02:45.020 and shoot it right out of that
00:02:46.860 to take advantage of the opportunity.
00:02:48.380 And I feel like that, when I heard that saying,
00:02:50.520 Michelle, one of our instructors said that,
00:02:52.060 in like a lamb, out like a lion,
00:02:54.680 I was like, all right, this applies to business hardcore.
00:02:57.700 Number two, sacrifice speed for stability.
00:03:02.240 You know, when you come out of a corner,
00:03:04.760 sometimes you wanna just step on the gas
00:03:07.400 and you're trying to connect to another turn.
00:03:09.560 And what you wanna do is kind of let the car get settled,
00:03:12.660 get stable, and once you've got that,
00:03:14.780 then you can take that opportunity to build the speed.
00:03:17.380 And I think too often in our business,
00:03:19.300 if we're growing really well,
00:03:20.800 these opportunities to grow, you know, 30, 40, 50%.
00:03:23.580 You know, one of my coaching clients, ClickFunnels,
00:03:25.380 they went from zero to 100 million in five years.
00:03:29.300 Imagine that level of growth.
00:03:30.640 But in doing that, you have to measure the state of the business, the stability of the business.
00:03:36.780 And one of the metrics that I teach my clients to measure is this thing called LER.
00:03:40.480 And I got it from Greg Crabtree, the author of Simple Numbers.
00:03:43.600 And it's this concept of the labor efficiency rate.
00:03:46.680 Now, I'm not going to get into the math and the financial side of this.
00:03:51.600 But the concept is that ratio will let you know how taxed your team is.
00:03:56.180 In regards to new customers, new sales, you have so much amount of money that you put
00:04:00.240 into labor. If that ratio gets out of whack, you're running too hot. The way I think about it, it's
00:04:04.640 just like these cars, they're banging off the rev limiter and you need to slow it down, get the
00:04:09.660 stability so that you can get that speed. Number three, model then modify. You know, one of my
00:04:15.700 favorite conversations with was with one of the instructors, Nate, and asking him just about like,
00:04:20.460 you know, people come to Dirtfish and I'm sure there's a lot of egos, very wealthy people come
00:04:24.600 here that have huge car collections and feel like they're professional racers and have track
00:04:29.720 experience but i'll tell you if you've been on asphalt going into that stuff into the trees
00:04:35.560 completely different approach and what happens is people want to drive the way they want to drive
00:04:40.840 they don't want to hear the input and what i really love about the instruction here at dirt
00:04:45.080 fish is they say look just you know it's a progression do this try that do this try this
00:04:50.600 i've been here this is my second time and the first time was very structured they walked us
00:04:55.000 through kind of a learning path to get ourselves comfortable with the car in different terrains and
00:04:59.160 different techniques now we are in the advanced group where we're cruising
00:05:03.240 getting up to 80 miles an hour on these back straights and then taking these
00:05:06.900 sharp turns into with some real serious consequence but what's awesome is that
00:05:12.060 in this this time we've come now they said hey I want you guys to to be a
00:05:15.480 little freer with the course I want you to experiment with the course I want you
00:05:18.600 to maybe take a different line like feel get a feel for the vibe so a lot of
00:05:23.760 times when we're building businesses we're learning from a coach where we've
00:05:26.580 bought a course and you know they tell us to do something it's a recipe and we
00:05:30.080 start mucking with it we start saying well that won't work in my industry so
00:05:32.940 I'm gonna do a little different and what I've learned if you want to get the
00:05:35.560 biggest results in your business you need to first commit to the strategy
00:05:39.780 that you've been taught once you've gotten results and you've perfected that
00:05:43.100 you've understood the science then you got the permission to modify to add a
00:05:47.700 little artistic approach to make it your own but that's only after you've modeled
00:05:52.680 the successful behavior. Number four, don't commit to chaos, lift to vision. This one here, I've been
00:06:01.040 bitten so many times out there on the track. And it's really this concept that when you're driving
00:06:05.580 and you do something wrong and you take a turn too fast or you're too late or whatever, and you just
00:06:10.700 get really handsy, right? My instructor, Michelle said, hey, Dan, you know, calming down on the
00:06:14.720 hands. That what you need to do is actually take a second to just breathe and reset. And how often
00:06:21.740 if you found yourself and you're like something bad happens to you you know you wake up on in the
00:06:26.300 morning you feel like you're gonna take over the world and by noon you find out that a key employee
00:06:30.060 quits or a big deal just you know got lost or you know the hire you're trying to make decides to go
00:06:36.440 to a different firm and you you feel this chaos in your business and what you need to do in those
00:06:42.180 moments because people like well dan how do you deal with that how do you deal with i mean check
00:06:45.720 this out like just the chaotic aspect of driving when you feel out of control and the answer is
00:06:51.600 you gotta look up to vision.
00:06:52.860 And that's what they taught us here at Dirtfish,
00:06:54.380 that when we feel like the car in the moment is crazy,
00:06:58.920 we need to stop, get our heads high,
00:07:01.480 have a feel, like look to the next turn, get settled in.
00:07:05.060 And I think so often, as an entrepreneur,
00:07:07.080 we need to remind ourselves what our vision is
00:07:09.160 for our business, why we started this thing.
00:07:11.020 And in doing that, it's gonna allow us
00:07:12.800 to deal with the chaos, get through it,
00:07:15.020 and then punch it hard to get that momentum going.
00:07:17.620 Number five, adapt for success.
00:07:20.280 Now this one might sound a little crazy,
00:07:22.680 but the idea is that sometimes
00:07:24.900 you actually nail the turn, nail the follow-up turn.
00:07:28.400 You're cruising and you don't realize
00:07:30.300 that all of a sudden the whole thing,
00:07:32.180 the whole trail, the route changes
00:07:34.720 because you've got so much more momentum
00:07:37.160 going into the next turn.
00:07:38.780 And it's really this concept of adapt.
00:07:40.780 Once you're successful, I think too often
00:07:42.500 and as an entrepreneur, we make money,
00:07:45.900 but here's what's impressive.
00:07:46.980 It's not making the money that's impressive to me,
00:07:49.660 it's keeping the money, right?
00:07:51.700 I know a lot of guys that make a lot of money
00:07:53.380 in a two week, three week, year period,
00:07:56.320 and then just give it back.
00:07:58.000 They had that success, they had the gas pedal down,
00:08:01.240 everything worked out, and all of a sudden now
00:08:03.080 they take their foot off the gas.
00:08:04.720 They start to, they don't even realize
00:08:06.460 they're hitting the brake.
00:08:07.660 And what I've learned to do is adapt at that new higher pace.
00:08:11.840 As you get that momentum, you wanna now say,
00:08:14.280 okay, what are the things that I need around me
00:08:17.120 to keep that new level of success?
00:08:19.080 How am I going to approach this turn if we're talking, you know, hucking ourselves around,
00:08:23.220 praying, you know, pitching and praying ourselves into the corner here at Dirtfish, or we're
00:08:28.680 getting to a new level of revenue and team size, what do we need to adapt to ensure that
00:08:33.220 we continue that level of success and momentum?
00:08:35.780 That, to me, is a really important thing.
00:08:37.580 And maybe some of you guys are in that state, that position today where you've got success.
00:08:42.020 I want you to take a second to step back and really ask yourself, what do you need to change
00:08:46.220 that's different from before because you've got more momentum going into that next deal,
00:08:50.800 those more hires. Maybe it's a cash flow thing that you've never had to worry about. All of a
00:08:54.380 sudden now it becomes an issue. Adapt for success. Number six, be patient, set it, and wait. I will
00:09:01.760 tell you this is my number one culprit out there when I'm taking turns. Sometimes you need to get
00:09:07.580 the car into position, hit the gas, and make your turn and let the car do its job. And instead what
00:09:15.420 I do sometimes is I get back on the gas too hard or I turn the wheel because I don't feel like I'm
00:09:20.200 quite going to make the turn. And my instructors are always saying, Dan, set it and be patient,
00:09:26.180 right? How often have you been working in your business and you've got maybe a new webinar
00:09:29.920 funnel or some Facebook ads or a content marketing strategy or partnership process,
00:09:35.700 and you just don't feel like it's getting the kind of momentum. And all of a sudden you go
00:09:40.200 to an event or you hear from a friend, they have this other silver bullet, this shiny object,
00:09:45.420 and you change your strategy,
00:09:47.120 I'm telling you, the number one reason
00:09:49.480 you aren't growing if you're challenging
00:09:51.160 is because you don't focus, you don't go deep,
00:09:53.800 and you're going shallow and moving to the next thing.
00:09:55.900 You're not being patient once you set it.
00:09:58.040 And that's a huge opportunity
00:09:59.540 to not only know that you've got the right strategy,
00:10:02.640 execute on it, and be patient with the strategy
00:10:05.460 so that you go deep enough so that it generates the return.
00:10:08.300 And that's what I call growth stacking.
00:10:10.040 That's why this show is called the Growth Stacking Show,
00:10:12.900 is because it's about locking in,
00:10:14.760 being patient, getting those returns and then adding the next stack of growth to your business
00:10:20.240 and rinse and repeat as you build that velocity. Number seven, you can't look ahead if you are
00:10:26.940 patting yourself on the back. Think about it. You just crushed it. You're like, yay, I'm so good.
00:10:32.580 Yay. And then all of a sudden this next turn comes up. I mean, this is, this is, I see this
00:10:37.760 all the time. You can see people as a spectator. We're watching them take the turn. They'll crush.
00:10:42.380 I may have done this just now they'll crush the turn and then they'll be so excited that it worked
00:10:48.420 out that they don't set themselves up for the next turn and then they give it all back they
00:10:52.340 literally lose it I almost plowed into those tires right there and I was so disappointed because it
00:10:57.300 took so much energy and flow just to get to that level and then you give it all back and I think
00:11:02.420 too often we do that we celebrate somebody raises a round of funding yay congratulations yay I mean
00:11:09.400 it's really hard to look ahead if you're you're too busy giving yourself a huge
00:11:13.060 pat on the back I'm not saying don't celebrate I'm just saying celebrate
00:11:16.480 recognize for what it is and get back to the play because you're still in the
00:11:20.200 race you know many times I think of businesses running a marathon with
00:11:23.980 sprints within you're not done running the marathon just because you had a good
00:11:27.520 section so get back in the game stay focused get ready for that next
00:11:31.300 obstacle and commit number eight you got to be chill to kill this is probably
00:11:37.180 one of my favorite there's an instructor here named mitch and they call them mitch isms here 0.98
00:11:41.020 at dirt fish and uh one of his one of the ones i like the most is he got to be chill to kill you
00:11:47.100 know and the idea is that smooth is fast i think too often if we're thinking racing it's all about
00:11:53.260 like aggressive and being full on and like you know being you know way outside of our comfort
00:11:58.460 zone but really being tenacious regardless of you know how scared we are and what i've learned the
00:12:03.900 fastest people around this track right now we're running like a eight minute lap and the way to do
00:12:09.900 those times is to actually be chill to breathe and then if you do that if you chill and you commit
00:12:16.540 that's how you kill and in your business there's moments where you just need to breathe and reset
00:12:21.660 maybe this is going on for you right now where you're just struggling with some you know some
00:12:25.660 team issues or some financial cash flow issues or you just don't really feel energized by the work
00:12:31.180 you're doing, take a step back. Chill, chill. Take a chill pill. Relax. And through that, you're going
00:12:38.340 to kill it in your business. You're going to stay in the game. You're going to push forward, build
00:12:41.600 that momentum, and crush your business race. I just want to do a quick recap. One, in like a lamb,
00:12:48.160 out like a lion. Number two, sacrifice speed for stability. Number three, model then modify.
00:12:57.440 Number four, don't commit to chaos, lift to vision.
00:13:01.700 Number five, adapt for success.
00:13:04.300 Number six, be patient, set it, and wait.
00:13:08.020 Number seven, you can't look ahead
00:13:10.060 if you are patting yourself on the back. 0.99
00:13:12.480 Number eight, you gotta be chill to kill.
00:13:15.820 I hope you found this video fun, exciting.
00:13:18.180 I thought it'd be kind of neat
00:13:19.040 to bring you behind the scenes.
00:13:20.280 In next week's video, we're gonna do part two
00:13:23.060 where I talk about, you know what?
00:13:26.360 I'm gonna leave that open.
00:13:27.780 I'm gonna share with you guys next week
00:13:29.000 when I drop that video.
00:13:30.340 But if you feel like this video has added value to you
00:13:32.180 or could serve somebody else,
00:13:33.240 be sure to share it with them.
00:13:34.600 Click the subscribe button, smash the like button,
00:13:37.480 and be sure to leave a comment.
00:13:38.740 I hope this video finds you incredibly well,
00:13:40.920 and I'll see you next Monday.