Valuetainment - Episode 325： Who Deserves Your Time

00:00:00.920 30 seconds, one time for the underdog, ignition sequence start, let me see you put em up, reach

00:00:09.260 the sky, touch the stars up above, cause it's one time for the underdog, one time for the

00:00:16.260 underdog.

00:00:17.280 I'm Patrick Biddy with host of ITM and today we're going to talk about who in your environment,

00:00:21.400 place you work at, as a leader, who deserves your time and who doesn't.

00:00:25.320 Point number one, no matter who you are, you fall under one of these three different categories.

00:00:29.580 You're either coming up as a new person, you could be a new real estate agent, new insurance

00:00:33.640 guy, new digital marketer, new doctor, new dentist, new liquor store, new deli, but it's new in

00:00:39.100 your community, no one knows you, you're coming up.

00:00:41.540 Number two is your name in a marketplace.

00:00:43.700 People know you, if they see your face and name, that's a local real estate agent, that's

00:00:47.660 a local dentist, that's a local doctor, that's a local liquor store, that's a deli store down

00:00:51.500 the street, but you're a name, you're not the pay setter yet, you're a name.

00:00:55.380 And then there's the front runner.

00:00:56.620 Front runner is, you're number one in your community, in your state, in your country,

00:01:01.980 but you are number one.

00:01:03.760 Everybody follows your pace.

00:01:06.440 Whatever you do, they follow your pace.

00:01:08.260 You're the lead dog in your industry, in your community, in your city, right?

00:01:12.260 Having said that, a lot of times a person coming up wants the kind of respect of a front runner,

00:01:18.060 but you haven't earned it yet.

00:01:19.400 So you'll hear things of people saying, well, I'm busy, I'm really busy.

00:01:23.040 You'll hear this word, I'm really busy, I'm really busy.

00:01:25.460 The word busy has three different categories in it.

00:01:27.720 The first kind of busy is the facade busy.

00:01:29.840 What's facade busy?

00:01:31.160 You're a real estate agent.

00:01:32.500 No one is talking to you.

00:01:34.060 You don't have any clients.

00:01:35.600 But no client wants to do business with a real estate agent that has a lot of time on their

00:01:39.300 hand.

00:01:39.540 So you have to say what?

00:01:40.680 Well, I'm busy.

00:01:41.360 You're bluffing the world.

00:01:42.360 I'm busy.

00:01:42.800 I've got so many clients.

00:01:43.680 I've got so many appointments.

00:01:44.680 Let me see if I can put you in a two o'clock. 0.54

00:01:46.520 That doesn't work for me.

00:01:47.320 I can do three o'clock.

00:01:48.440 Oh, you know what?

00:01:48.920 I just had a cancellation three o'clock.

00:01:50.600 So people play this fake busy tactic that they play, which is fine if you're a newcomer 0.97

00:01:56.440 coming up, but you can only do that for so long.

00:01:58.760 Eventually, the goal is to actually become busy.

00:02:01.520 When you are busy versus a facade busy, everybody feels the difference.

00:02:06.800 They notice the difference.

00:02:08.480 Forget about the language of what you say.

00:02:10.260 People feel that you are really busy.

00:02:12.380 Then third one is you're extremely busy.

00:02:14.420 What does this mean?

00:02:15.460 You used to do an hour and a half appointment.

00:02:17.040 Now you're doing 30 minutes.

00:02:18.060 Now you're constantly doing this.

00:02:19.000 You're constantly doing this.

00:02:19.680 You're constantly doing this.

00:02:20.800 You used to be on a phone call that would be 45 minutes.

00:02:22.780 Now you're asking if we can make it 20 minutes.

00:02:24.960 You used to normally do an hour appointment.

00:02:27.040 Now you're doing 10 minute appointments.

00:02:28.700 You used to normally write a very, very long email.

00:02:31.440 Now it's a simpler email because you are now officially extremely busy.

00:02:35.520 You used to have one assistant.

00:02:36.860 Now you have three assistants.

00:02:38.300 Now you have an executive system.

00:02:39.500 Maybe you're hiring a chief of staff, depending on what level you're at.

00:02:42.420 So those are two things to keep in mind.

00:02:43.680 Now coming up, name in the marketplace, front runner, facade busy, busy, extremely busy.

00:02:49.000 Depending on those two, you can't be a facade busy wanting to get paid of an extremely busy person.

00:02:54.840 You can't be coming up wanting to get paid of a front runner because you haven't earned that right in the marketplace yet.

00:03:00.040 And the marketplace dictates what you're worth.

00:03:02.400 So when you look at this, you today have to take a moment outside of the video and actually decide what you are worth in a marketplace.

00:03:11.340 Not what you think you're worth.

00:03:12.620 It's kind of like, I think my house is worth a million.

00:03:15.420 The market says it's $600,000.

00:03:17.280 You can say your house is worth a million.

00:03:19.180 No one's buying it.

00:03:19.860 This is why a lot of homes stay in a marketplace for two years.

00:03:23.300 It's been on a market for 620 days.

00:03:25.440 Why?

00:03:25.680 Because the owner thinks the house is worth a price that the market doesn't want to pay for.

00:03:30.380 So you can say you're worth more, but no one's paying for it.

00:03:33.280 I think I'm worth $400.

00:03:34.560 No one's paying you as an attorney $400 an hour.

00:03:36.960 You need to start off at $200 an hour.

00:03:38.620 Again, go back and figure out what you think you're worth based on market value, not what you would like to be, what you currently are worth.

00:03:46.820 Then every time you do a task, put an hour next to it.

00:03:50.220 This task takes me three hours.

00:03:52.420 I am worth $50.

00:03:53.880 This is going to take me three hours.

00:03:55.640 That's $150.

00:03:57.040 Is it worth my $150?

00:03:59.640 You may sit there and say, yes, because long term I'm going to make XYZ return on this.

00:04:04.640 No problem.

00:04:05.480 You may sit there and say, no, why do I keep doing this?

00:04:07.520 This is a $10, $15 an hour job.

00:04:09.780 I'm not going to be doing this.

00:04:11.040 Then you adjust to a different place.

00:04:13.020 Then you also have to make a determination of what you're going to do to get to $100 an hour, $200 an hour, $500, $1,000, $50,000, and our $100,000, and our whatever it is, your marketplace, you dictate that.

00:04:25.720 But eventually when you get here, the market says this is what you're worth.

00:04:28.900 So now, that is you're looking at your time on what level you're at.

00:04:32.380 Let me give you the middle part.

00:04:33.300 This is association.

00:04:34.460 This is you.

00:04:35.500 Okay?

00:04:36.180 You have three types of people that you need to spend time with.

00:04:39.720 One is people above you who are way ahead of you.

00:04:43.100 Let's just say you're making $1 million of your income.

00:04:44.820 You spend time with somebody making $10 million, and they're seven years ahead of you where you are with your business.

00:04:49.280 They're investing into you.

00:04:50.900 You need to be around them because they pull you up.

00:04:53.540 And you're, oh my gosh, why do I think so small?

00:04:55.760 I can't believe I only think this big.

00:04:57.560 Why can I be thinking?

00:04:58.520 Look at this guy.

00:04:59.200 Oh, this is so crazy.

00:05:00.120 See, we have so many other things we can do, right?

00:05:02.200 Or an advisor, a mentor, a board, something like that.

00:05:04.860 They invest in you.

00:05:06.620 Then you have relationships that are at the same level as you.

00:05:09.160 They give you sanity, and they give you peace of mind.

00:05:11.660 Why?

00:05:12.260 Because you are not the only person that's struggling with your wife, your kids, and the business.

00:05:17.740 How do I manage all this stuff?

00:05:19.060 You are not the only person that's struggling with your best person left you and became your competitor.

00:05:23.440 You are not the only person that all of a sudden your board said, we're taking money back.

00:05:28.040 You're not the only person that's going through it, and you're hearing other people at the same level as you, how they handled it.

00:05:32.880 Then you relax.

00:05:33.520 It's okay.

00:05:33.960 This is normal.

00:05:34.600 I can handle it.

00:05:35.220 And you go on and make your decision.

00:05:36.800 And the last one is investment.

00:05:37.940 This is future.

00:05:38.700 This is giving back.

00:05:40.160 This is community.

00:05:41.820 This is a way of you spending time with people that look up to you.

00:05:44.700 It's like, oh my gosh, I can't believe I'm spending time with you.

00:05:46.920 I'm like, wow, I'm really important.

00:05:47.880 I really do bring value in people's lives.

00:05:49.820 This is pretty amazing.

00:05:51.080 My life is worthy because other people want my time.

00:05:54.760 All three are necessary.

00:05:57.260 However, the goal is eventually for me.

00:06:00.980 Today, if you call my phone, there are 15 names.

00:06:04.940 No matter what meeting I'm in, unless if my phone is off or I'm shooting a video or I'm sitting with an interview or I'm doing something that my phone's not next to me.

00:06:13.160 Anything else, there are 15 names.

00:06:15.860 They call me, phone is picked up.

00:06:18.000 First ring, it's picked up.

00:06:19.340 What's happening?

00:06:20.200 First ring, it's picked up.

00:06:21.500 Okay?

00:06:22.200 There are 15 names.

00:06:23.420 Not 50 names.

00:06:24.560 Not 100 names.

00:06:25.400 Not 200 names.

00:06:26.420 My phone has 27,000 numbers in there.

00:06:28.820 But only 15 names I pick up when they call me.

00:06:31.760 Why?

00:06:32.040 Because the goal is to eventually get to a few friends, many acquaintances.

00:06:36.260 Few business partners, many associates.

00:06:39.360 Few influencers, many creators.

00:06:41.920 Too many people, they're looking at this as a popularity contest.

00:06:44.980 I am not trying to answer the phone to 600 people.

00:06:47.580 I'm not.

00:06:48.400 I'm not trying to become, you know, best friends with everybody.

00:06:52.360 I hope everybody likes me. 0.99

00:06:53.660 You will be miserable. 0.97

00:06:55.160 You will not get nothing done.

00:06:56.720 The goal is to realize who is worthy of your time and who's not.

00:07:00.020 Right?

00:07:00.780 So, few friends, many acquaintances, few business partners, many associates, few influencers,

00:07:06.240 many creators.

00:07:07.120 Not the other way around.

00:07:08.380 So, 15 is my rule.

00:07:09.640 You can do 50, you can do 100, you can do 200.

00:07:12.220 I go by the 15 rule.

00:07:13.620 That's what I have.

00:07:14.260 So, this leads me to the last thing to be thinking about.

00:07:16.380 You'll get a lot of projects.

00:07:17.920 When you're newer coming up, you can't say, oh, I'm only going to focus on this project.

00:07:22.040 You can't because you're the assistant, you're the front desk, you're the processor,

00:07:25.640 you're this, you're that.

00:07:26.540 You're doing so many different tasks when you're newer.

00:07:29.300 So, a newer person may put 10% of their time into 10 different projects.

00:07:33.980 And then you eventually graduate that a little bit and maybe it's going to be 20% of your

00:07:37.660 time into five different areas because now you have staff, now you have supporting cast,

00:07:41.460 now you have different people helping you out.

00:07:43.000 The goal is to eventually get to a point where you're putting 90% of your time in the

00:07:48.740 project that has the biggest upside that needs your attention and 10% into minutia.

00:07:54.220 Let me say this one more time.

00:07:55.260 90% of your time into one project, 90% of your time into your main core team that has

00:08:02.120 the biggest upside, 90% into your next leader that can run the company, that can replace

00:08:07.440 you in many areas.

00:08:08.700 Your 90% goes there, your 10% goes to everybody else.

00:08:12.760 When you get to this point, believe it or not, growth is higher.

00:08:16.660 We run an insurance company, been around for 10 years, okay?

00:08:19.540 We have 9,700 agents nationwide.

00:08:21.540 We have 100 plus offices nationwide, right?

00:08:23.820 49 different states.

00:08:25.340 This year, 2019, we are growing faster than ever before and my attention is going to fewer

00:08:31.860 things than ever before.

00:08:33.000 What happened?

00:08:33.520 Because I'm putting 90% into the project that has the highest upside, not 2020, 2020, 2020,

00:08:40.240 because I can't grow it that way.

00:08:41.960 I have to go fully into the project that gives me the biggest upside.

00:08:45.360 Hence, we're a bigger company today and we're growing at a bigger percentage than ever before

00:08:50.480 because of the 90-10 run.

00:08:52.200 I know a lot of people will say, well, I don't know about this.

00:08:54.520 That's kind of unfair.

00:08:55.280 How about the other person that needs your time and all this?

00:08:57.680 I get it.

00:08:58.540 I get it.

00:08:59.160 But I don't feel guilty about it anymore.

00:09:00.700 I used to at one point, not anymore today, because the 90% that goes into that small group

00:09:05.220 wants it more than everybody else and has the biggest return.

00:09:07.540 That's who gets my time.

00:09:08.640 So having said that, you got to process these three for yourself.

00:09:12.460 Where are you at with the level you're currently at?

00:09:14.860 Where do you want to be?

00:09:15.540 Put that goal for yourself and do the math here.

00:09:17.200 Second, who do you associate yourself the most with?

00:09:20.160 How many friends do you have?

00:09:21.700 Are you accessible to all your acquaintances?

00:09:23.980 Are you accessible to all this other stuff?

00:09:25.600 And by the way, the other day I had a speaker that I hired to speak at one of our events,

00:09:30.820 sales guy.

00:09:31.560 We had a conference call at 2 o'clock.

00:09:33.140 So I got on the call.

00:09:34.600 It's 2 o'clock.

00:09:35.780 The lady says, oh, he's running a little bit late.

00:09:38.340 Wait a minute.

00:09:38.820 I paid you.

00:09:40.340 You're running a little bit late?

00:09:41.660 I don't understand this part.

00:09:43.140 I said, Nancy, is this really happening?

00:09:45.520 Who's the customer here?

00:09:46.740 You are.

00:09:47.600 Why are we waiting for him?

00:09:49.420 I said, ma'am, I'm sorry.

00:09:50.360 We don't work that way.

00:09:51.080 We have to reschedule this time.

00:09:52.180 Oh, he's about to finish.

00:09:53.300 Only five more minutes.

00:09:54.180 Man, we don't have that kind of time.

00:09:55.720 You let him know the next time we schedule time, I need him to be on time.

00:09:59.180 The next conference call we did, look what happened.

00:10:01.560 Call is set up at 2 o'clock.

00:10:03.420 Do you know I had my staff get on the call early to see what time he got on the call?

00:10:06.760 Do you know what time he got on the call?

00:10:07.880 He got on the call at 1.50.

00:10:09.500 Do you know what happened in that moment?

00:10:11.240 That influencer realized we value our time.

00:10:14.360 And you better value our time as well.

00:10:15.940 Because we respect you.

00:10:16.820 We expect that same thing in return.

00:10:18.360 Too many times people let those small things go here and there.

00:10:20.740 You got to value your time when you're dealing with other people who don't know you yet, right?

00:10:25.100 So again, this is you.

00:10:27.080 Who do you want to value your time with the 15 calls and last but not least, projects.

00:10:30.120 Thanks everybody for listening.

00:10:31.420 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.

00:10:36.040 Give us a five star.

00:10:37.480 Write a review if you haven't already.

00:10:38.780 And if you have any questions for me that you may have, you can always find me on Snapchat, Instagram, Facebook, or YouTube.

00:10:44.980 Just search my name, PatrickBitDavid.

00:10:46.880 And I actually do respond back when you snap me or send me a message on Instagram.

00:10:51.860 With that being said, have a great day today.

00:10:53.600 Take care, everybody.

00:10:54.320 Bye-bye.

00:10:54.560 Bye-bye.

Valuetainment - June 21, 2019

Episode 325： Who Deserves Your Time

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