Valuetainment - June 20, 2022


The Pandemic Made You Lazy


Episode Stats


Length

5 minutes

Words per minute

225.48611

Word count

1,264

Sentence count

95

Harmful content

Hate speech

1

sentences flagged


Summary

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

In this episode, Pat Rigsby talks about how the lack of face-to-face meetings has led to laziness in the business world and how this could be a huge advantage in the future of your business.

Transcript

Transcript generated with Whisper (turbo).
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 What if I told you the pandemic, COVID, made everybody lazier, including maybe you and maybe
00:00:05.000 your competitors, and how this could be an edge for you if you make the right adjustment. So by
00:00:10.080 the way, if I make my argument and it makes sense to you, give it a thumbs up and subscribe to the
00:00:14.300 channel. So let me get into my argument here. So let's go pre-COVID, let's go COVID, and let's go
00:00:19.360 post-COVID, kind of like where we are right now. So pre-COVID, pre-COVID, if I wanted to sell you,
00:00:24.060 we met up somewhere. If I wanted to sell you a product, I flew out to you. I came to your office,
00:00:28.260 I came to your house. And if I'm a player, like I'm the best of the best, maybe I earned the right
00:00:33.240 for you to come to me. And then we go to pandemic, everything's shut down. Maybe you're in New York
00:00:37.600 or LA or UK or London or wherever you are, right? Chicago. And things have shut down. Everything
00:00:43.880 went from face to face to what? Hey, since we can't do that, why don't we Zoom? Okay, I'll see you on
00:00:49.380 a Zoom. And we saw each other on a Zoom, right? Oh, let me tell you about what we do with our
00:00:52.040 business. Let me share this screen. Let me share this screen. Let me share this screen. Here's our
00:00:55.480 deck. Here's our PowerPoint. Here's our presentation. Oh, okay. And now we're leaving
00:01:00.080 the pandemic. So what are you doing now? Are you still saying, let me meet you on a Zoom.
00:01:03.540 Let me meet you on a Zoom. Let me meet you on a Zoom. Let me meet you on a Zoom. Okay.
00:01:07.100 So during pandemic, a lot of people made a lot of money, but a few people made a lot of money.
00:01:12.740 And I'm talking a lot of money. I want to share a couple of stories with you. So hopefully you can
00:01:16.280 process this for your own self. So in the investment banking world, where you are raising capital,
00:01:21.500 I meet with investment bankers and big banks to raise money, whatever the money may be, right?
00:01:26.820 So I would have meetings with different investment bankers. 50% of these private equity firms weren't
00:01:34.200 willing to meet with you face-to-face. It was all Zoom. But the ones that I could meet with,
00:01:39.380 they would not only fly out to meet with you, but we would have dinner afterwards. So imagine I got
00:01:44.500 four options here, four options here, between these four or eight options that they had. These four
00:01:49.340 only wanted to do Zoom. There's zero relationship built afterwards because nobody goes to an Italian 1.00
00:01:54.240 restaurant and says, Hey, why don't you go to an Italian restaurant in New York? I'll go to an
00:01:57.980 Italian restaurant in Dallas or in Florida. And while I'm eating, let's talk to each other. Tell me
00:02:02.640 about your wife and kids. Okay, great. Why? But let me send this link to my, it's kind of weird,
00:02:07.420 ain't it? Okay. Versus these guys, they got no business from me, but these guys who flew out and met
00:02:13.640 face-to-face, kneecap-to-kneecap, we went to dinner. By the time I said, you're like, I just like this guy
00:02:18.800 because half of doing business is what? Liking somebody. FYI. Do you know how many people I did
00:02:24.260 business with said the reason why Goldman Sachs had an edge over their competitors? Because David
00:02:28.720 Solomon told his guys, Hey, you guys got to go meet with the clients and other banks and private
00:02:33.920 equity and all these other places said, no, no, no, no, no. Strict guidelines, Zoom only. Okay.
00:02:39.440 So now we're not here. Some companies are still using pandemic as a guideline to say, I only do Zoom.
00:02:45.700 Those guys are going to get destroyed. So the argument then becomes, well, Pat, I totally
00:02:49.960 disagree with you because I can do six meetings on Zoom while you can only do two or three face-to-face
00:02:55.820 meetings. Don't I have an edge over you? No, you don't. Yes, I do. No, you don't. Why is that?
00:03:01.800 Because the biggest deals are done where? On the golf course. The biggest deals are done during
00:03:07.780 dinner. The biggest deals are done at a game. The biggest deals are done face-to-face-to-face
00:03:14.080 and nothing's changed. I can't shake your hand right now through this. Try shaking my hand. Can
00:03:20.060 you put your hand down there? Can you feel my hand? We can't shake hands, right? Watch this. I'll give
00:03:24.140 you a completely different perspective on how this applies to me. When we had 20,000 subscribers
00:03:29.160 and I'm looking at the marketplace on YouTube, we got a hundred thousand, 20 to a hundred thousand
00:03:32.820 subscribers. I'm looking at everybody on YouTube and I'm like, Oh my God, that guy started 10 years
00:03:36.600 before me. That guy's been around home and how are we going to compete with all these guys?
00:03:40.580 And everyone's going to their show. Everyone's going to their show. Everyone's flying out to
00:03:45.160 their show. I can't compete with them, but you know what I could do? What's that? What could
00:03:49.680 be our edge? You know what I'm going to do? I'm going to fly out to my guests and I'm going
00:03:53.260 to do three interviews in LA. Then I'm going to do four interviews in New York. Then I'm
00:03:57.880 going to do three interviews here. So I can do 10 interviews in three days while my competitor
00:04:03.360 can only do one. I'm going to go meet with people rather than waiting for the guests to say,
00:04:07.460 I'll be available in July. I'll be available in nine months. I'll be available end of year.
00:04:11.460 No. How about we come to you? So we started going to our guests. You know what started happening?
00:04:15.920 All of a sudden, a hundred thousand subs, quarter million subs, half a million, million, two million,
00:04:20.660 three million, few billion views online because we went to people. And now I'm in my podcast set
00:04:25.960 just this week. We've had three presidential candidates that show up. Francis Ngannou, who is the
00:04:31.840 champion, heavyweight champion of UFC. You name them one after another, after another, after another,
00:04:36.760 after another, showing up here. Why? Because we finally earned the right for people to show up.
00:04:40.820 But even today, I'm no longer doing the Zoom interviews. Of course, if I do an interview
00:04:45.060 with Putin on Zoom, I would do it. But the point is, everything is what? Face-to-face. So for you
00:04:50.860 watching this, are you still kind of leaning on the Zoom COVID pandemic behavior to say, I'm only doing
00:04:57.760 meetings through Zoom? Are you back to face-to-face? Because if you're not going back to face-to-face,
00:05:03.000 those who do are going to take your lunch and those customers are going to love them more than
00:05:09.380 doing business with you. So don't be the person that doesn't make the adjustments on the right
00:05:14.120 time and you kind of delay it and everybody else passes you. Especially the guys that are competing
00:05:18.280 all the way at the top. Make that decision for yourself early on. So if this made sense to you
00:05:22.660 and the argument's been made, give it a thumbs up and subscribe to the channel. I got a video I want
00:05:27.060 you to watch. It's a video I did probably six years ago titled, How to Improve Your Work Ethic. If
00:05:32.940 you've never watched this, click on this to watch it. Take care, everybody. Bye-bye.