Valuetainment - Bouncing Back From Unemployment

00:00:00.000 I'm Patrick Bedevi, host of Value Team, and today I'm going to talk to those of you guys

00:00:25.080 that got fired or know somebody who got fired.

00:00:27.480 What should be your next moves after getting fired?

00:00:30.740 12 reasons why people got laid off or fired in the last five months here.

00:00:35.040 Number one is coronavirus layoff.

00:00:37.160 Companies let people go.

00:00:38.360 We have to let go of 10% of our employees, 20% of our employees, and maybe you were one of them.

00:00:42.640 Number two, you got fired for your effort.

00:00:45.360 You didn't show effort whether people went home and they were working from home,

00:00:49.240 or maybe your effort wasn't the best.

00:00:50.660 They fired you for that.

00:00:51.560 That happens all the time.

00:00:53.040 The next one is your project was completed.

00:00:54.840 You came in, you had a task, you had a project, it took three months, six months, 12 months, 18 months.

00:00:59.220 It's been done.

00:00:59.680 You're fired.

00:01:00.080 We don't need you.

00:01:00.600 Thank you so much.

00:01:01.220 All the best to you.

00:01:01.820 Number four, a technology replaced you, meaning whatever job you were doing was replaced by

00:01:07.800 a technology or a system that can do your job.

00:01:11.420 Number five, money fired you.

00:01:13.320 The company was getting tighter in money, and they had to figure out a way to cut costs,

00:01:17.900 and one of the ways was they had to fire you.

00:01:19.980 Number six was your hours were cut, meaning you were used to working 40 hours a week.

00:01:24.860 Now it's 20.

00:01:25.760 You're not full-time.

00:01:26.620 The benefit's not the same.

00:01:27.620 That is a method of being fired.

00:01:29.480 You lost 20 hours of your income, which is 50% of your income.

00:01:32.460 That is a method of being fired.

00:01:33.960 Number seven, your attitude got you fired.

00:01:35.900 Your attitude just was rubbing people the wrong way, maybe negative, maybe complaining,

00:01:40.720 whatever it may be.

00:01:41.440 That could have been the case that you got fired.

00:01:42.900 Number eight, your size of thinking got you fired.

00:01:45.680 What do I mean by size of thinking?

00:01:46.880 We had somebody the other day that I offered a full-time job to, and it was a nice salary.

00:01:51.360 He says, ah, you know what?

00:01:52.880 I got to tell you.

00:01:54.160 I know this is kind of going to sound a little weird, but bro, I'm making $4,000 a month

00:01:58.320 staying home, and I'm doing side jobs.

00:01:59.840 I don't want a job right now because I'm able to stay home and not do anything, and this

00:02:04.160 thing is kind of helping me out.

00:02:05.640 So the person didn't take a job with a company because he was getting money.

00:02:10.120 It's size of thinking problem.

00:02:11.640 Thinking so small that an unemployment check got them fired, and they're happy staying

00:02:16.660 where they're at.

00:02:17.240 Number nine, a big client fired you.

00:02:19.620 You were handling a client.

00:02:21.020 You didn't handle it well.

00:02:22.300 Didn't go right.

00:02:23.080 Maybe you could have done a better job.

00:02:24.280 The client said, I just can't work with you anymore.

00:02:26.020 You're fired.

00:02:26.520 That is a method of being fired.

00:02:27.820 Number 10, company outgrew you.

00:02:30.200 And number 11, you have couldn't handle the pressure during times like this.

00:02:33.640 There's a lot of pressure taking place.

00:02:35.460 And number 12, the culture fired you.

00:02:37.820 You don't fit the culture.

00:02:38.780 Now, here's the thing, if you heard me go through this, some of you guys are like, screw

00:02:42.500 this guy.

00:02:43.660 The hell with you, Pat.

00:02:45.740 Who are you to tell me it's all the company's fault?

00:02:48.480 It's what the company did.

00:02:50.000 My boss sucks.

00:02:51.140 You were not there to see what they were doing.

00:02:52.700 All these greedy people.

00:02:54.240 Fine.

00:02:55.100 If that's the attitude, I cannot help you with your income.

00:02:58.400 The only thing I know what to do as a person that's been fired before by Bob's big boy because

00:03:05.160 I was working there, and quite frankly, I was not the best employee, and they fired me.

00:03:10.140 The only thing I can do is, what do I need to do to increase my income?

00:03:14.600 I can't change Bob's big boy.

00:03:16.240 You can't change your company.

00:03:17.800 You can't change your boss.

00:03:19.140 You can only change you.

00:03:20.040 This is why we're starting here.

00:03:21.160 Now, let's look at the income.

00:03:23.120 Income-wise, one of the exercises I want you to do is the following.

00:03:25.940 Number one, I want you to write down on a piece of paper, what was your income in 2015?

00:03:31.560 What did you make in 2016, 2017, 2018, and 2019?

00:03:35.260 Now, I put it this way, and I left 2020 white because we don't necessarily know how the year

00:03:40.580 is going to end up with the income that you're making, and you can't count your income from

00:03:44.940 unemployment.

00:03:45.960 That's not income I'm talking about.

00:03:47.280 I'm talking about you generating income, right?

00:03:49.740 So, when you write down your income, 2015, 16, 17, 18, 19, here's what you'll notice.

00:03:54.900 This person here was making $72,000 in 2015, went up to 88, a $16,000 raise, next you came

00:04:02.360 down to 79, next you to 115, next you to 77, so if you look at this, 115 looks pretty, but

00:04:10.760 the reality is the last three years, no matter what, income is what?

00:04:14.140 $77,000 your income, right?

00:04:15.860 They would like to make more money, but 77, the market says, that's your income.

00:04:20.380 Now, you have three questions to ask.

00:04:22.220 Number one, what do you think you're worth?

00:04:25.320 Okay, I'm not talking about like the song, I'm one in a million, I'm not talking about

00:04:29.300 that kind of stuff.

00:04:30.020 What do you think you're worth?

00:04:31.080 Today, in a marketplace, you're running a company, somebody like your qualifications

00:04:36.800 comes in for an interview, you have budget that you have to hit, what are you willing

00:04:41.440 to pay that person, which is you?

00:04:43.440 What would you pay that person in the marketplace?

00:04:45.300 Now, you may say, Pat, I think I'm worth $100,000.

00:04:48.160 Okay, next thing you have to answer is why?

00:04:50.160 Why do you think you're worth that?

00:04:52.020 What makes you say that I am worth the number that you just said?

00:04:54.940 Answer that.

00:04:55.740 Here's why I think.

00:04:56.980 Great, no problem.

00:04:59.040 Here's the next thing.

00:05:00.640 What's the difference between what you believe you make and what the market is paying you?

00:05:06.160 Meaning, you believe you're worth $150,000.

00:05:08.760 The market's only paying you $77,000.

00:05:10.840 There's a $73,000 discrepancy.

00:05:13.540 Why is there such a discrepancy there?

00:05:15.440 If you really are worth $150,000, shouldn't the market pay you for it?

00:05:18.800 Well, yeah, but I think I'm worth $150,000.

00:05:20.940 It's good to have positive thinking, but then you have to use logic to know why wouldn't

00:05:24.620 the market pay you what I'm worth?

00:05:25.840 There's a reason for it.

00:05:26.580 So now, let's look at some realities of income that's out there.

00:05:29.360 You have to learn this, and it's kind of painful, and it sucks, but I'd rather know it up front

00:05:33.300 than find out about it 20 years later, and I'm 63 years old.

00:05:36.320 I want to know about it now, just like you probably don't want to know about it now.

00:05:38.980 Number one, your income, the reality, is not going to change dramatically the next 30 to 90 days.

00:05:44.740 Meaning, 2020, your dreams are probably not going to become a reality if you just got

00:05:49.780 fired from your job.

00:05:50.640 It's not going to happen in 2020, and sometimes the problem with people is that they want everything

00:05:55.580 to change one right away.

00:05:57.180 Oh, man, I want to go out there and change.

00:05:58.580 I want to do something right now.

00:05:59.780 Somebody sent me a message, and they said, Pat, I'm sick of it.

00:06:03.420 You hear your story.

00:06:04.740 I watch all your videos, but I tell you, I'm in a terrible place right now with my family,

00:06:09.260 with my mom.

00:06:10.220 I'm seeing all this stuff with my dad, and I'm like, we're not in a good place.

00:06:13.200 What can I do right now for things to change right now?

00:06:16.220 I need $35,000 to bail out my parents.

00:06:19.020 I said, you want the good news or the bad news?

00:06:21.580 He said, give me the bad news first.

00:06:23.320 I said, bad news is there's probably nothing you can do right now that can change things

00:06:28.420 immediately in the next 30 days.

00:06:31.220 I said, but there's a lot of things you can do that can change things in the next 18 months,

00:06:35.100 but not in the 30 days, because nothing big happens immediately that the results are being

00:06:40.940 shown, right?

00:06:41.420 So number one, for somebody to say, oh, I was thinking this is one of those where the secret

00:06:46.600 sauce is going to be given to me, and I thought this was going to change everything.

00:06:50.880 If you're wanting it within 30 days, I don't have any kind of solutions for you, number

00:06:54.320 one, because that's realities of income.

00:06:55.940 Number two, if you say you make the most fancy resume, and you send it to the companies,

00:07:03.040 big companies, and you're typically worth 77, and a company pays you 180, and you're

00:07:09.160 like, oh my gosh, I got so lucky, I got a job for 180, this is sick, or the market value

00:07:15.720 for you is really $42,000, your income, somebody offers you 80,000, you think you're on top of

00:07:21.940 the world.

00:07:22.620 I can't believe they finally paid me 80.

00:07:24.540 Here's what happens, if you get lucky with an overpaying job that pays you way above what

00:07:30.400 you're really worth in the marketplace, and you don't deliver within 30, 60, 90 days,

00:07:34.620 you're going to be fired, okay?

00:07:36.980 Companies learn very quickly whether you're worth the money they paid you or not within

00:07:41.260 30, 60, 90 days.

00:07:42.360 I've experienced it, very quickly you'll be fired.

00:07:45.560 Then you'll have to go back in the marketplace, and the market's going to ask you, well, my

00:07:48.600 last job paid me 80 grand.

00:07:50.480 Really?

00:07:50.940 How about the job before that?

00:07:51.980 I don't need to disclose it, because in the state of California, in the state of tech,

00:07:55.240 I don't need to disclose any of that stuff.

00:07:56.980 Okay, no problem, but what did the last job pay you?

00:07:58.420 $80,000.

00:07:59.120 How long were you with the last job?

00:08:00.200 Only 12 months.

00:08:00.800 Why did you leave?

00:08:01.880 Cultural differences.

00:08:02.860 Can we call the references?

00:08:04.020 You give all the references of people you like, right?

00:08:06.240 You never give the people that fired, you always give the people.

00:08:08.960 So a new company hires you, and then they fire you again.

00:08:12.060 And a new company hires you at 80, and they fire you again.

00:08:14.980 Five years later, you work for six companies.

00:08:17.320 It's kind of like being 33 years old, married five times in your life.

00:08:20.860 It's not the best reputation to have to want to marry somebody real serious.

00:08:24.720 So you may want to step back and say, what is my real market value?

00:08:28.300 Why am I trying to get a fast one with these companies here?

00:08:31.740 It's not working out.

00:08:32.640 I keep getting fired.

00:08:33.520 Let me take a step back, and what do I need to do long term?

00:08:35.880 Three, money is out there for people who know how to over-deliver.

00:08:40.420 What do I mean by this?

00:08:41.240 Everybody thinks the market sucks right now, people who are not sitting on cash.

00:08:44.760 There's a lot of cash out there, in a lot of different industries.

00:08:47.880 Investors have a lot of money.

00:08:49.380 The market's willing to overpay for talent.

00:08:51.220 The market's willing to overpay for people that over-deliver.

00:08:54.360 The market today is very picky about paying people who think they're worth more than what

00:09:01.900 they're worth today.

00:09:03.100 Let me explain.

00:09:04.480 I was on a call with a man named Andrew Zimmern, which you may know.

00:09:07.280 He had this show called Bizarre Foods, whatever, whatever, with Andrew Zimmern.

00:09:10.780 Great show, right?

00:09:11.700 He was on TV from 2006 to 2018.

00:09:14.260 And we're having this conversation, and he says a story about a person that had this,

00:09:19.440 you know, a year and a half ago.

00:09:20.640 This lady owns a restaurant in San Francisco, one of the most well-known restaurants in San 0.94

00:09:24.800 Francisco.

00:09:25.620 When you see the interview, you'll hear him tell the story.

00:09:27.920 And she decides to start really changing compensation, benefits, all this other stuff, to keep her

00:09:32.940 people and all this other stuff.

00:09:33.800 Because she says, I was having a hard time keeping top talent.

00:09:36.700 Why?

00:09:36.980 Because even if you're paying your top talent $100,000, a year and a half ago, people could

00:09:41.640 take the $100,000 with a resume to another company and get $120,000 because people were

00:09:46.220 hopping with their resumes from company to company to company, right?

00:09:49.240 You could have done that a year and a half ago.

00:09:51.260 Not today, okay?

00:09:52.440 Because today, companies are frugal with their money.

00:09:55.140 Because remember, money fired a lot of people, right?

00:09:57.080 Okay.

00:09:57.940 So even if you think, well, the money's out there, I can go get it.

00:10:01.500 Yes.

00:10:02.120 But the keyword in this entire sentence is what?

00:10:04.940 Over deliver.

00:10:06.400 Number four, your skills may be a low-paying skill.

00:10:09.800 Time to change your skill.

00:10:10.880 Number five, your industry may be in a decline or your industry just may not be at a time right

00:10:16.960 now that's going to be paying you high income.

00:10:19.000 You need to know these realities of income before making your next move.

00:10:22.660 So now, during the pandemic, I see a lot of Facebook posts and I see a lot of people's

00:10:28.500 comments saying, I just finished 42 episodes of this show.

00:10:31.840 It's the best I've ever watched.

00:10:33.480 42 episodes times 50 minutes.

00:10:36.220 That's 38, 36 hours.

00:10:38.620 What are you doing watching 42 episodes?

00:10:41.620 I just finished this other one that was 120 episodes.

00:10:44.960 Oh my gosh, I'm emotionally attached to Bear and Armand.

00:10:47.620 What are you doing watching all this stuff?

00:10:49.440 You could take in those 120 hours in a master class online.

00:10:53.580 Don't complain if people don't want to hire you after a pandemic.

00:10:56.520 It's because your method after getting fired maybe wasn't effective for you and it's time

00:11:00.720 to change.

00:11:01.140 So here it is.

00:11:02.320 How have you changed during the pandemic based on skill set, context, expertise, attitude,

00:11:08.520 education, work ethic, technology, increase in market value, your DMA?

00:11:13.300 What are your daily monitoring activities?

00:11:14.720 What are things you're doing on a daily basis that your discipline is getting better?

00:11:18.220 And leadership wise, what have you done?

00:11:19.760 So again, somebody may say, Pat, I need to lift me up, man.

00:11:24.240 I don't need something like this.

00:11:25.900 You're beating me up a little bit.

00:11:27.680 I mean, come on, Pat.

00:11:29.060 I just need somebody to tell me everything's going to be okay.

00:11:31.340 I can tell you everything's going to be okay and lie to you.

00:11:34.000 Because if you don't change certain habits, everything's not going to be okay.

00:11:38.420 It's actually going to get worse.

00:11:40.280 If you want nice motivational videos, there are millions of channels out there that are

00:11:44.580 going to tell you videos that are awesome.

00:11:46.640 You are awesome.

00:11:48.060 You are great.

00:11:49.480 You are amazing the way you are today.

00:11:52.080 No, you're not.

00:11:53.500 What you are today is your market value.

00:11:56.480 If you want this market value, you're not going to make that money based on today's market

00:12:01.260 value.

00:12:01.960 It was a very tough thing for me to swallow 15 years ago to realize, hey, Pat, you ain't

00:12:07.040 as good as you think you are.

00:12:08.160 I'm like, what are you talking about?

00:12:08.800 I'm Patrick B. David, 25, 26 years old.

00:12:11.160 No, you're really not as good as you think you are.

00:12:13.140 You got to change.

00:12:13.880 I got to change.

00:12:14.500 You got to change.

00:12:15.640 The moment it came from that perspective, lifestyle change.

00:12:18.560 So here's your last five moves on what to do.

00:12:20.300 Five were you.

00:12:20.720 Number one, why did you get fired?

00:12:23.880 Meaning, really, why did you get fired?

00:12:25.880 By the way, I'm not talking about go to your boss and say, you know what?

00:12:29.680 I really screwed up.

00:12:30.780 It was all my fault.

00:12:31.720 I'm not telling you to do that.

00:12:32.560 I'm telling you, why did you get fired?

00:12:34.680 What was the reason why you got fired?

00:12:36.940 Not why the company fired you, because I'm assuming the company kept some people.

00:12:41.580 So unless if you worked at a company that let go of 100% of their employees, well, then

00:12:45.840 that's a different reason.

00:12:46.660 Company went out of business.

00:12:48.160 But if the company let go of 5% of their employees, 10% of their employees, 20% of their employees,

00:12:52.800 and it's layoffs, I just want you to know they let go of the least needed, least talented

00:12:57.800 people.

00:12:58.340 That's what companies do.

00:13:00.080 Just so you know.

00:13:00.660 You've broken up with other people before in the past, right?

00:13:03.120 Why did you break up?

00:13:03.960 Because you didn't see long-term benefits, exchange value, like, I just don't see this

00:13:09.500 thing working out.

00:13:10.400 It's the same way.

00:13:11.320 So now, if you were to be honest with yourself, why did you get fired?

00:13:14.460 What was the cause of it?

00:13:16.060 How much of it was you?

00:13:17.260 What could you have done differently?

00:13:18.580 That's number one.

00:13:19.140 Number two, what's your immediate solution?

00:13:21.640 What can you do today to replace a portion of your income immediately?

00:13:25.400 Get an immediate job?

00:13:26.240 What can you do?

00:13:26.800 Because you need to make your move and get a job immediately because you can't let a 1.00

00:13:30.480 wound bleed because you got kids, you got family, you got jobs, you need to stay active.

00:13:34.380 What can you do immediately?

00:13:35.400 That's number two.

00:13:35.960 Number three, which is the most important one, where do you want to be long-term?

00:13:40.560 And here's what I mean by where do you want to be long-term.

00:13:42.960 When I lost a client, or when I was fired, or when a client fired me, or when I had a time

00:13:52.120 where I was thinking too small, or when a time, a, you know, situation I had where I

00:13:57.600 couldn't handle the pressure and I lost a client or lost somebody, this is all things

00:14:01.900 that I couldn't do, right?

00:14:03.560 I went back and I say, long-term, Pat, who do you want to be?

00:14:06.320 For you, the entire first law, there's five laws here that talks about, you know, your

00:14:12.880 next five moves, the entire move number one is for your positioning, meaning, where do

00:14:18.140 you want to position yourself long-term?

00:14:19.720 Most people don't spend a lot of time thinking about this.

00:14:22.180 All they're thinking about is, how can I pay my bills today?

00:14:24.440 How do you want to position yourself long-term?

00:14:26.800 Long-term.

00:14:27.820 This is why I put an income of 2021.

00:14:30.400 Most people want to fix their income problems in 2020.

00:14:33.320 I'm looking at 2021, 2022, 2025.

00:14:36.400 When I was 26 years old, 27 years old, I was at Pebble Beach, and I started making some

00:14:41.100 decent money, and a man asked me a question, Pat, at what age will you have $100 million?

00:14:46.980 We're at a bar at Pebble Beach, and he says, at what age will you have $100 million?

00:14:51.760 I said, I think by 40, I'll have $100 million, right?

00:14:54.800 $100 million by 40.

00:14:55.920 It happened 38, 39-ish, by the way, to $100 million.

00:14:59.140 But what happened?

00:15:00.660 I used to only think about immediate, immediate, immediate, so much.

00:15:04.860 Why didn't I think about long-term steps of what I had to do?

00:15:07.580 The sequencing of steps is what got me to the vision that I wanted to get to, because

00:15:11.460 I spent time thinking about long-term rather than just quick, quick, quick decisions to

00:15:16.340 be making.

00:15:16.640 Number four, what new skill sets do you need to change in order to get paid what you want

00:15:22.820 to get paid in 2021?

00:15:24.200 So, skills, industry, positioning, what do you need to do to be able to change that,

00:15:29.300 or whatever that number may be for you?

00:15:31.300 Whatever it is, study it now.

00:15:33.120 And the last but not least, so you may say, I got fired, man, I was in the health industry

00:15:36.780 and I don't like it.

00:15:37.780 I got fired, I was in the hotel business, I don't like it.

00:15:39.860 I got fired because I was in real estate, I don't like it.

00:15:42.000 Great.

00:15:42.860 What other industry do you want to go into?

00:15:44.700 Go look at that person, number five, whoever it is that you're looking at as an industry,

00:15:48.860 and study them.

00:15:49.420 Hey, John, do you mind if I reach out to you?

00:15:50.840 Can I just come to your office?

00:15:51.880 I just kind of want to see what a day looks like.

00:15:53.460 Yeah, sure.

00:15:54.020 No, I'm not interested.

00:15:55.320 Yeah, sure.

00:15:55.680 Come on down. 0.94

00:15:56.120 You go to the office.

00:15:56.920 So, what does it feel like to be a financial advisor for 15 years?

00:16:00.100 What does your day look like?

00:16:01.180 What's the toughest thing?

00:16:02.040 What's the easiest thing?

00:16:02.900 What's the differentiator?

00:16:03.840 Great.

00:16:04.700 You know, you go to a real estate guy.

00:16:06.540 Hey, you've been in a real estate business for 20 years.

00:16:08.320 Do you mind if I come and just sit down with you?

00:16:09.820 I just want to know what it's like to be a real estate agent.

00:16:11.660 I'm about to make a career decision for myself.

00:16:14.820 I want to know what to do next.

00:16:15.960 I'm thinking about leaving my industry.

00:16:17.820 What does a real estate business look like?

00:16:19.320 And you go in there like, oh, okay, cool.

00:16:20.700 Okay, cool.

00:16:21.340 Here's your day.

00:16:21.880 Here's the worst.

00:16:22.400 Here's the best.

00:16:23.160 What does it look like to be this person?

00:16:24.640 What does it look like to start a company?

00:16:26.160 What does it look like to do this?

00:16:27.940 Based on that, you'll say, this is not the industry for me.

00:16:32.540 Or this is the industry for me.

00:16:33.980 But I definitely don't want to be a CEO.

00:16:35.500 I prefer only being a salesperson.

00:16:36.960 This is the industry for me.

00:16:38.120 But I prefer to be a sales leader.

00:16:39.440 I don't want to do this.

00:16:40.600 Your positioning is getting clearer and clearer and clearer.

00:16:42.980 Because you've identified your next five moves.

00:16:46.460 Thanks, everybody, for listening.

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Valuetainment - September 10, 2020

Bouncing Back From Unemployment

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