Ep09 | Anything Measured Improves with Todd King

Named Jim Anderson. He's from Utah, unbelievable real estate investor, unbelievable coach, unbelievable speaker. He's just a truly amazing guy, helped me learn a lot. And so I owe a lot of that. He would do his thing from the front in every single place he was on stage. Every word he said had a purpose. That's a great person to learn from. And learning from that was... And I guess so you're kind of you get to kind of take not the back seat, but you don't have to make the sale necessarily because you've got a face that does garner respect, and now you can kind of build the experience underneath that. And we're coming under the Rich Dad flag. And also too, I did events for a guy named Dean Graziosi, some people may know him, Tony Robbins, Kevin O'Leary from Shark Tank. So these are some of the people I've worked with throughout the time because I was always an independent contractor, so I did a lot of different events. But again, my core was always the majority of everything I did was through the Rich Dad Education Company.

2018. I spent 299 nights in a hotel. I had the highest status with Hilton and Marriott. And my new wife, who was unbelievable, she's been there since my youngest was about a year old, so she's their mom. My kids don't really know their mom, they haven't spoken to them in over a couple years now. But she's their mom. But she said to me, she goes, 'This is the ultimatum. I know that's your passion, I know that you're coaching, I've learned that you love it, I know you love to travel because I would take the kids and stuff sometimes, they get experience. My kids have been to all different countries, that's kind of cool because I actually coached in 48 states and five different countries, including Australia. I know I need Maine and Minnesota.' I think it's like... yes, okay, you gotta knock those off, I gotta get them all. So anyways, at that point she was like, 'Todd, what's your choice? What's your choice? This is fair. What's your truth? That's a lot of nights away. Can you give up that much? Can I give up that much income?' Because I was still building other things, and I was like, 'Yeah, yeah, I got to.' So I started Power Team Advisors. And Power Team Advisors was kind of the same thing I was doing. I did a couple events called Mastering Entrepreneurship, where I was kind of the main speaker. We would do some events, but also it was a way for me to do a lot of free events as well. That's when Youth Mastering Entrepreneurship first developed. I've done one at Ignite here, the second annual one. The first one I did in Ohio. It's a way for me to give back. And the Power Team Advisors is a way to connect people. I knew I had a lot of connections, being connected with people like Robert Kiyosaki, Tony Robbins, Kevin O'Leary. I have a lot of resources, and that was where I realized, okay, I need to help advise people, coach people, and get them connected. And that was the whole concept, and that's really what Power Team Advisors is. And then it led to the point where we're using Power Team Advisors, and we still do, to buy small businesses that are struggling, become more of the solopreneur, the person that's self-employed that works real hard. We help bring them in systems, how to streamline things. And so we have several different businesses because of that business.

Pretty small businesses with Power Team Advisors. A lot of brand new businesses. But I was setting up events. We did one in San Jose. We did our very first launch event in January 2020, right before COVID. We did our first launch event in Columbus. So I was planning on doing one every couple months, a live event, and then follow up with the coaching and stuff as well. Met some unbelievable people through that. I met a gentleman by the name of Eric James, who's one of my favorite people I've ever coached. He's just unbelievable. He was a teacher and he ended up doing some great real estate deals, and he's living his purpose in life. And that's really what everything goes back to, his purpose. He's actually in the Philippines right now giving back and building houses in the Philippines for the poor people and feeding people, just because of real estate, because of what he's been able to do. So Power Team Advisors, even though it's a young company, it'll always have it. I just don't focus as much on that now because of really how I came into Fortune.

It does. I think probably the biggest thing is leadership. I would say leadership is one of the biggest things. There's a big difference between being a leader or being a boss. And I think starting out as a small business, especially if you have any employees at all, it's your business, you're passionate about it, you feel like it's everything you've worked so hard to create this business that you kind of put away or not thinking about being a leader.

Let's actually look at that because making the corrections is probably a much deeper conversation that we could do. Absolutely. But the like, what are some of the things that you see frequently that are indicators of that? For example, I think a boss is going to dictate. They're going to talk down or maybe just talk in a way that they don't even realize that they're talking to. A boss hears, they don't really... they're not transforming. A boss speaks constantly but they're not really being... they're not influencing. I think that would be one of the best things I could say. And when I say what they're not influencing, does that make sense?

A really good leader will influence through thoughts, action, feelings, emotions for the greater good, not for themselves.

Now we're kind of blending a little bit. Power Team Advisors, I'm also blending a little bit of Fortune Management where I coach doctors. I coach a lot of doctors in Pennsylvania, Ohio, and West Virginia. So now I kind of travel, but I travel regionally. But you said something I got to talk a little bit more on. You said sometimes if you step back you can kind of look at this. That's really hard to do. Stepping back from your own business when your head is in it, you're focused enough. That's why you hire a coach. A true coach does not advise you. A true coach... if you ever sit and listen to one of my coaching conversations, I'd be happy to let you. I probably actual statements that I'm saying in an hour-long coaching session with one of my doctor clients, I would say I probably don't understand 15 or 20 sentences with a period. My coaching calls is asking them questions to redirect and have them think. What are they? How are they handling yourself? What are they doing? I have a favorite question: 'And what else?' And then it's my big one. And 'What's stopping you?' Tell me you want to do something. 'What's stopping you?' That's interesting.

Absolutely. That's it. So one of the original founders of Fortune Management is Tony Robbins. A lot of people in business have heard of Tony Robbins. Tony Robbins has been the coach for so many famous people. He was a coach for Bill Clinton, he was a coach for Serena Williams when her sister died or got murdered and she couldn't get back on the court. She needed a coach to come in. He's been a coach for so many different people. And that's truly what we were founded on at Fortune. I was a coach with Rich Dad, but I was more of a consultant type coach.

Absolutely. Consulting is somebody that will come in for a short amount of time, they will tell you what they think is going to happen, they'll give you a plan on how to execute that, and they're typically out of your life. That's what I view a consultant as. Somebody that comes in, finds problems, finds a solution. 'Call me next time.' As a coach, especially for what I'm doing right now, it's somebody that sticks with you, that holds you accountable, that is going to make sure that you're executing. They're not executing for you, they're helping you come to the solutions. To be a good coach, you cannot be ego driven where you have to be there to get the reward. A really good coach helps their client find the solution, and it's the client's idea. That's why I'm asking the questions. I may have my idea of how to handle it, but I'm not just gonna say, 'Hey, just do this, do this, do this.' Do you think that somebody's really listening? 'Hey Todd told me to do this, this, this.' Or you came up with the idea. How much more are you willing to execute that if you came up with that idea, Bradley?

Great question. As a Fortune Management coach, we wear three different hats. We wear the executive coaching hat where we coach the doctors on everything from life coaching to personal issues to growing their business, growing other businesses, buying real estate, doing their portfolio. The second hat we wear is what we call a key business advisor. That's what we're helping them transition by merger and acquisition of other practices. We help them get their practice ready to sell if they're in a position. And the third hat we wear is what we call a practice management advisor. That would be kind of your consultant advisor. We'll come in, we'll show them systems. Like, 'Hey, you need to get...' For example, I work with a lot of dentists. They need a bunch of patients that haven't been in for hygiene. So how are we going to get those patients back in? Let's teach the team how to talk on the phone properly.

You'll hear me say a lot of times, 'I'm going to put my practice management advising hat on.' So like, because then I'll give them that. But again, I still... if it's a decision or if it's something that's going to stay with them, accountability, I'm a coach first. And so yes, we do some of those other things, and that's how we are successful. You can't just ask questions and have them... sometimes you got to help them guide them in the right questions, and you still have to have systems in place too.

Right when I decided I wasn't going to be traveling anymore, no 300 more nights a year in the hotel, I was just looking for coaching opportunities, just seeing what was out there, executive coaching. And I saw a company had an ad: 'Executive Coach for Medical Companies.' And it was in California. I just shot them an email, and they said, 'Hey, you got to get connected with this gentleman named Curtis Crandall.' And he actually owns four dental offices but also owns the Fortune Management Pittsburgh company. And so with Curtis, I went in, I interviewed with him, and he's like, 'Yeah, you got to do this.' So that's when we started building Fortune Management. So really it was on LinkedIn. I found the company for a California ad. They put me into... well, you don't want to come to California, but they put me in contact with somebody local, and that's when we started buying more territories and started expanding and really started growing the Fortune Management Pittsburgh, Pennsylvania, Ohio, and West Virginia divisions. And that was 2020.

We can talk for days about this. But really, first starting with a business, you need to know your burn rate or your break-even point with any business. And that's where you got to start. And there's a term called KPIs, key performance indicators. And I use this to coach with as well. Every number, whether it is a profit, an expense, or it's a hygiene effectiveness rate for anybody that's listening... in the medical field, the doctor field, there's a leading and a lagging reason. Your lagging reasons are stuff that happened in the past, that's your profit for the last quarter. But there's also things that are happening: how many new patients you're getting this month, or in medical terminology, how much treatment we're diagnosing this month is going to shape up and give us a leading example of what we can expect in the future.

I'm going to say something that if anybody takes one thing from this podcast, this is it: anything that is measured or monitored improves. So if you have something in your business that needs to improve, if you're measuring it and monitoring it and you're focusing on that, it's going to improve. So when I take on a client in the medical field, I run an analysis. I do what's called a practice analysis. I do the same thing, an opportunity assessment, I do with any business that I'm looking to buy through Power Team Advisors. We see the numbers and we see where's the opportunity going to be and what needs to be improved. So if there's something that you're doing super great, you want to keep monitoring that. But for example, production or your total revenue, then you got to take off your adjustments or your write-offs, and then that gives you your net production. So when you're starting out with something for KPIs, what I would do is: how many cold calls are you doing? How many marketing reach outs are you doing? If you kept that as a KPI, let's say that you are selling something, you will see in correlation, you would see, 'Hey, if I make 20 calls, I'm going to get a deal.' A lot of people don't think about that. They just make the calls, they're not actually measuring it, they're not monitoring that, and then they give up. You will see trends. And then if you got more training, you learn how to talk better, you learn your product better, you know your business better, you get more experience, you're going to see that number get better and better and better.

I use Google Sheets for everything. It's just my formulas in there and you can see it. It's so important to see. You will see that if you're making a new business, if you're in sales for example, a lot of people in this podcast are sales people. You will see that your number... the months that you made more calls, I bet you your income, if you look in the correlation, if you have them in the same sheet, I bet you you will see your income.

Okay, so that's good. So your suggestion is if it's measured, it'll improve. If it's measured, it'll improve. So if it's not, then you need to change your approach. I want to share one thing that's changed probably my life more than anything. I heard this from Tony Robbins way before I started working for Fortune. There's something called the Ultimate Success Formula. This is for anything that you want in life. And I have to share this because it's been so impactful for my life. When I want to do something, I use this. It's the Ultimate Success Formula. I'll go slow so people can write this down. This is a great takeaway from this. The first step is you got to know your outcome. If you want to accomplish whatever you want to accomplish in your business or in life, you have to know what that outcome is first. You can't expect to get somewhere without knowing that outcome. So if you want to have 30 clients, you need to know you want 30 clients. You want to run a 4-minute mile, you have to know that outcome. The second step is you have to have a why, a reason to do it. You've read the books, you've heard Simon Sinek. Simon Sinek is awesome and his books are good, but if you ever have a chance to listen to any of his TED Talks or his YouTube videos, he's a much better presenter than even the books are. But he talks about your purpose, you have a why. If you don't have a why you want that outcome... 'Oh, I'm gonna be a millionaire.' Why do you want to be a millionaire? What are you gonna do with that? What's your greater good behind that? So step number one is know your outcome. Step number two is know your why, the reason that you want to accomplish this. You want to provide for your kids, you want to provide for the university. And the third step is where a lot of people start. You gotta take massive action. It's not just saying, 'Oh, I'm gonna go make two cold calls today' or 'I'm gonna reach out to two, send two emails.' That's not really gonna get you where you wanna get. So take massive action is number three.

And then the next thing is where my KPIs come in. Bradley, number four is you gotta monitor your results. You can take massive action, but if you're not monitoring it, you may be taking massive action the wrong way. You may run your business in the hole. You may be spending all your money and marketing, even more important than the money, all your time on something that's not working. So if you're not monitoring that, your time or your money or whatever it is, monitor all that. And if you're monitoring it, you know it's not working. And the last step is if you're monitoring it and it's not working, change your approach. So step number five is change your approach. It's called the Ultimate Success Formula, and it has been a life changer for me.

Always coming up with my purpose. You know, what's my why? Do I want to have a vision? You have to have a vision. A lot of people confuse... so let's try to actually be specific and go through where were you at when you discovered that, and what did each of those steps look like for you to actually put it into... like, 'Okay, I want to do X amount of sales this year.' If you can be as specific as possible, I think that might be helpful to just kind of... because 'take massive action' is like, 'Okay, well I don't know, maybe to me 10 calls today is pretty massive.' It's going to be different. What did that look like for you?

I'll give you something like in real estate. When I first heard this, I was actually doing real estate. I knew I wanted to be a real estate investor. I knew I wanted to have enough passive income on my real estate. That was my outcome. I knew I would have that income to live off of, and I could still do whatever I wanted to do. Everything else would be earned income. So I knew the outcome. Then I tried to fit... when I figured out, for me to truly for this to be a passive business, you have to know your expenses, and this passive income has to outweigh your expenses. So if your total expenses are $5,000, for you to truly be financially free or if you live off your passive income, you'd have $5,001. You're not gonna have much extra money, but that was my outcome. That's what I wanted. My why is so I could spend more time with the kids, so I didn't have to rely on a job, didn't have to rely on somebody else. I could always control... I've actually to this day, I was in high school, I worked in a grocery store, but I've never actually worked a job. I've never actually worked for somebody. I just for some reason... when I bartended and stuff, I had managers and things, but so that was kind of my why. I wanted to be independent. I wanted to be able to do what I wanted to do, when I wanted to do it, and how I wanted to do it. And I've had a lot of failures over the years. But take massive action is like I was saying, going into the Rich Dad organization, the Whitney organization in 2005 or 2006, and not leaving, taking flowers, doing whatever it took to get that job. That's going to Owen Smith's townhome in Oakland when he's playing for the Raiders on off week and not letting him say no. That's emailing him every day. That's following up with every single lead you have. That's making offers on houses and getting told no. That is taking massive action. It's asking to speak in front of organizations. It's asking doctors for their business. It's asking people for their business. You have to ask. So those things that make you... if it's not making you uncomfortable, it's probably not massive.

Okay, so that's a good starting point. I'm going to say too, we share a space at the Ignite building. And one thing too is you take massive action. I mean, I always see you one of the first people in there. You're in there on Sunday, you're taking massive action with all your business. So you were doing this, you may not have known this formula, but you were doing this. I see you doing it, and that's why you're where you're at. How many other people are coming in on Sunday and spending their Sundays working on their business? Or how many other people are being there at six, seven a.m., being the first person in there? You're doing something right.

For example, even in the real estate business example, I kind of started this with when I took it to all my businesses. We would make offers. We'd make offers for sale by owners. Was that working? How were we making offers? Were we calling? We're making creative financing offers. We're making all cash offers and trying to get the money. Were we using brokers and different things like that? Just making... paying attention to everything that you're doing. And then last step is making adjustments. If it's not working, let's make the adjustments to make it work. But it's difficult to make adjustments if you're not tracking how you're doing them. You're just randomly doing it on emotion, thinking that without actually knowing that it's working. Honestly, that's probably not a good thing because you're making decisions that you just think is the best decisions as entrepreneurs. And we think that a lot of times, but I've seen it hurts some people.

No, I just want to let everybody that's out there that's creating a business or thinking about starting a business, get your visions set up. You have to have a vision. Even in the Bible it says those without a vision will perish. I don't know the exact scripture, but you can find that. And the biggest visionary was Walt Disney. You have to create your vision, whether that's knowing your outcome, create your vision, business plan, and actually figure out what you're doing. And then you'll be much more successful.

I think probably the best way is powerteamadvisors.com. [email protected] would be my email.

It was great having you. This was a good conversation. I think it will definitely be helpful for some people.