#284: How To Business Plan Your Way Into Explaining Interstellar To Yourself
business people space plan podcast astronaut weeks episode gravity interstellar big fucking talk ego proposition watch thought build funding days
SPEAKERS
Law Smith
Law Smith
0:01
sweat equity podcast and streaming show the number one comedy business podcasts in the world pragmatic entrepreneurial advice ballistic jokes. That's what we're about. I'm your host last Smith and to my right, your left on the tube is Eric Readinger. L. You don't even do your own noise effects for yourself know.
0:23
Some people call me cool, Eric forgot.
Law Smith
0:24
There you go. We're 2020 best small medium enterprise business advisory podcast in the USA. already won it. It's not even 2021 yet. Usually it goes awards later. But we already know from the Lux global excellence awards proudly hosted by Lux Life magazine. Yeah, it's legit. It is. It's not a trophy scam.
0:46
They're gonna give us something for free.
Law Smith
0:47
holler at us knockout if you get a scan a trophy scam coming your way I won Best. Best of Tampa is management Executive of the Year or something last year? Oh, yeah. Two years in a row, baby.
1:03
I bet Yeah,
1:04
it could be other cities as well. Could be. But I'm the best to Tampa.
Law Smith
1:07
And we got a lot of people outside the Tampa Bay area. We'll play to you as well. Listen to us on iTunes, Apple podcast, Spotify, laughable. YouTube, Facebook, Vimeo. This episode of sweat equity is brought to you by grasshopper, try grasshopper.com forward slash wet, hit 270 $5 off an annual plan. What's grasshopper you say it's a business phone line. Don't get Google Voice as your business phone line as a secondary phone line. Get the scalable option. Get it's not even that expensive. And you're getting 75 bucks off an annual plan. Try grasshopper.com forward slash what gets you $75 off an annual plan. I use the desktop app. I use the mobile app. You can you can do whatever you want. The desktop app is pretty awesome. I like the desktop app because I like typing on a keyboard like a boomer that's how I roll try grasshopper.com forward slash sweat like he sweat gets to $75 off an annual plan are two other sponsors. ExpressVPN expressvpn.com forward slash sweat. Get your three months free off an annual plan for anonymize web traffic you don't want to get you don't want to get advertised to for people like me. And if you die you don't want to pass to find out we look it up. Yeah,
2:21
Pinterest, all the party planning you're doing
Law Smith
2:24
incognito doesn't work in Chrome like you think it does. Lastly, Warby Parker Warby Parker trial.com, forward slash sweat. Like he sweat. guitar,
2:33
he said that one
Law Smith
2:34
five free pairs to try on at home. That's five free pairs to try them at home. If you're watching this video, wearing my Warby Parker's right now to fit my heart said they can fit anybody. Warby Parker trial.com, forward slash sweat. Let's get this party started.
2:52
sweat equity.
Law Smith
2:57
sweat equity.
Law Smith
3:12
We've got to apologize for not doing an episode last week, but
3:15
we don't have to
Law Smith
3:18
address it. But we are going to that's good customer service. I think we've been you know, all
3:25
right up in that
Law Smith
3:26
rip to the customer service champ, which is the CEO of Zappos Zappos with a questionable way of dying by fire which is old school. Yeah. by fire. I heard AJ pins on this podcast talk about that guy like the party. And like candles maybe?
3:47
Yeah, but
Law Smith
3:48
well, there may be a math thing. I don't know. Thank you. Hey, but
2
Speaker 2
3:56
but that's that seems like the wrong drug to be caught up in a fight. I mean, that's a meth is an explosion drug
Law Smith
4:03
to die if you're making if you're doing I know I could see but you could see people getting into like, what better drug to be on to get out of the house fire. But for sure, but maybe you think you're invincible. Just let it build and maybe you got out of it. I leave it. I'm gonna test this. I can do it. This is some Heisenberg fucking go out. Go out in flames. All right. You're right, though. Yeah, what happened? I don't know what. It's all hearsay. It's all rumors. You can't sue us because we're an empty bag anyway. Right. And you give me money. It's not slander. It's just what I heard on another podcast. And it's out there for the world to hear.
2
Speaker 2
4:41
Yeah, I'm gonna apologize. I have two weeks of soundboard built up. So
Law Smith
4:45
what kind of penis are you? Well, no guests. No guests episodes. That's okay. I'm asking. Oh, no, no, build him up. Oh, it's like you got them all stored in your balls and you need to guess
Law Smith
4:58
I've got a soundboard blue balls in this episode is basically a loving assist, which is, yeah,
5:04
yes. Thank you for the hand thing that you did.
Law Smith
5:07
I did. It was a visual here. Yeah, I just want to see
2
Speaker 2
5:12
if I say it out loud. I did. He did a jerk off motion for me.
Law Smith
5:15
Well, you're all built up and I feel like a good friend. Did you come in and help you out?
5:22
Thank you What a good friend.
Law Smith
5:24
If we were stuck, I was watching Interstellar. I was listening to Rogan's podcasts with an astronaut today. And I was like,
2
Speaker 2
5:32
having an astronaut as a guest. You weren't listening to it with astronauts sitting next to you.
Law Smith
5:37
Oh, did I say that? though? I've just jumbled up all day. mixing up my prepositions. I don't know. His parts of sentences are just flying in. Add off the chain today. Right? I was listening. I was mainly watching Interstellar. And I've watched that show way on Netflix. That is getting a lot nerding out into a lot of spacey space movies. A ways basically a bottle. You know how like certain certain shows will do a bottle episode where they keep them in the same setting the whole episode?
6:11
Yeah, like a play?
Law Smith
6:12
Yes. Very much so. So like there's that one famous Breaking Bad episode where they're stuck downstairs in the basement where they deploy in the fly. There's a you know, you could do it by a framing device. My dinner with Andre, I think would be considered that, except I think they go in and out of just them talking for two hours.
6:33
Right? With flashbacks.
Law Smith
6:35
Yeah. But the the frame, the bottle framing devices, them having the conversation to set the narrative blah, blah, blah. away, I thought was about more space travel and it's just about more human interaction. And they try to do it out of order a little bit like Breaking Bad. So setting up like something in
6:54
the Esalen. It was more of a love story than
Law Smith
6:57
it really was. Yeah.
6:58
It's more than so meal and
Law Smith
7:00
true personality at work kind of thing. Because you got a Chinese lady, you've got a Russian guy. You got Hilary Swank who I think's attractive.
7:10
Bring Mike in for that.
Law Smith
7:13
Or private soon third be Mike. Third mike mike. The there's two more people on there one guy's like a entomologist or something. Is that the words or is that?
2
Speaker 2
7:28
I don't know what you're talking about. plants. You could totally say botanist botanist,
1
Speaker 1
7:33
I guess but something else too, like minerals and etymologist is somebody who I'm not gonna look it up. I
2
Speaker 2
7:39
think I just know it. And don't anybody look it up either. I think it's somebody who like researches the history of stuff.
Law Smith
7:48
There's one that's close to like, I don't mean in there. There's one that has mineral plant.
7:54
Right. Like I said, Don't look it up. Yeah. Don't like
Law Smith
7:57
why would I look it up? I would I prepare before the show. Anyway,
8:01
fucking thing sucks.
Law Smith
8:03
It's more about the dynamics of that going on. Yeah. Whereas Interstellar, I watched for the third time cried. Yeah, man. Man, we
2
Speaker 2
8:11
both agree on that one where Yeah, that McConaughey goes away. And he's got time dilation. He comes back and his little girls all grown up.
Law Smith
8:19
Yeah, every time and then she has a family that she's telling him to go. And the time travel. He's the same age. But she's. I mean, he stays the same age somehow. I still don't
8:32
know it has to do with gravity
Law Smith
8:33
as a lot. Oh, dude, it has a lot to do. The whole thing is so complex. I understand a lot more now than last time I watched it. And I'm still like, God Damn, this thing is really layered. Even some of the conversation that I kind of, I took in when I saw it the first few times and then saw it again. I was like, Oh, this all matters to the whole story. Really? I have an insight in the science part. The science part is accurate according to Neil deGrasse Tyson because think he was a consultant on there.
2
Speaker 2
9:01
Yeah, lots of consultants. Yes, I love I mean, I haven't seen it in a long time. I'll watch it again.
Law Smith
9:07
Oh man. Check the facts really good. Yeah, a lot about gravity. I forgot about playing playing into it. Fifth Dimension stuff blows my mind time how time changes blows my mind I don't get it scares me. And then I get really worried we're nothing
9:24
we are
Law Smith
9:25
Well, I mean, I it's a good way to minimize yourself a little bit if your egos ever hitting kind of kind of large. You can now right now you can work the opposite. You can see Jupiter and Saturn. I think right now if you look out if you have a clear sky.
2
Speaker 2
9:38
Oh, yeah, they're gonna be very close together. I think like Christmas Eve or something.
Law Smith
9:42
Yeah. It was pointed out to me the other night. I was like, Oh, we got to watch Interstellar. Right, right. And so my thing was just like been all up in that and had a point to have this that related back to visit. Oh, just how we're nothing and you can I think what you're doing is the end all be all. And if you really zoom out and minimalize it, it's not that big of a deal
2
Speaker 2
10:07
right at the time, but I'm saying even if it's the opposite, and your egos nothing you feel like depressed or something that can also, hey, maybe these things aren't that big a deal? Oh, yeah, I
10:18
get that way
Law Smith
10:18
that definitely helped me out when I was depressed. And it was kind of like, Interstellar. Just the macro view of things, you know, and going, man, there's got to be someone dealing with this exact same thing I'm going through somewhere in the world that has way more issues to deal with on top of
2
Speaker 2
10:36
that, right? I meant has less to be thankful for.
Law Smith
10:39
Yeah, or less resources. Yeah, you know, whatever it is, you know, and so it makes you be grateful in that in a weird kind of indirect way to get there.
10:49
No, I'm I agree with you.
Law Smith
10:51
I need to watch it, which is a lot of business. I mean, I feel like it. We've talked about it a lot on the podcast. It can be isolating, oh, I was really here's what I was getting to was. Was What are they? They never talked about jerkin in space. And I don't know what that's about. What do you think?
11:07
That is really interesting, because
Law Smith
11:09
who's gonna ask that question? Say do
2
Speaker 2
11:10
those podcasts do those videos where you know they show here? Here's how we wash our hair in space or brush our teeth in space
Law Smith
11:17
even take a shit? Yeah.
11:19
Got put up the walls. Right, right out right up to push
Law Smith
11:22
the guy on Rogan's policies of nice. The the astronaut was listening to was up there for 200 plus days. Like, come on now. You know, and he's talking about how he's working out with this treadmill that like shocked, shocked, centered or else like it will it'll just fall into pieces. If it's not like, absorb it. Like everything he you know, when he's on the shuttle. Kind of was like and then how he sleeps with like a sleeping bag like kind of attached to like a sleep like bats up the wall. But you can't tell he says you can't tell that you're upside down. No gravity, right. There's no gravity so you just kind of he's like got it like a almost like a carabiner clip I think like, like, mountain climbers. Yeah, mountain climbers do. hook to the sleeping bag and you just get your sleeping bag pod. Yeah. And I was like, maybe it goes on in there because it's kind of a closed area. I wonder if it to other people in there sometimes, huh? Yeah,
2
Speaker 2
12:24
I don't even want to speculate. I mean, maybe it's uh, maybe gravity jerk off.
Law Smith
12:29
Maybe NASA made some like cute, like, even something that would
2
Speaker 2
12:32
not surprise me better than like a, the astronauts use the flashlight. Yeah, it's like,
Law Smith
12:38
all the work was made by NASA there. Look.
2
Speaker 2
12:41
Maybe one of those astronauts is a robot. Fuck robot.
Law Smith
12:45
Guys. This is really crass. And this is really necessary. Well, let's, let's break it down. There's a need for this right in business. 101 is find a need and solve it.
12:55
Yeah, we're about to make some genius perv. A Millionaire?
Law Smith
12:58
No. emilian? What do you want to you want to have intergalactic travel? By your? Yeah, you're gonna have to take care of this problem? For sure.
2
Speaker 2
13:07
Yes. Unless they do that, you know, long term sleep thing where they give them all the drugs and they wake up when they get there. But
Law Smith
13:14
that's an interstellar but that's in the future. hibernation, but you can't really do that. Really?
13:21
No, no. And he
Law Smith
13:22
talks about? Well, no, he talks about you had to work out aggressively up there, your bone density goes down linearly, like a half inch every week or something crazy. Or like a quarter inch or something. In density, or maybe something.
2
Speaker 2
13:38
I mean, I could see bone is definitely affects bone density. But I mean, like, quarter of an inch a week doesn't really make sense.
Law Smith
13:44
Oh, yeah, it was something but he was like, it works linearly. Whatever the reduction is, it's just every week, you just lose that because of the gravity. So you have to do resistance. But I'm thinking what you know, and then you come back from Earth, or you come back to earth and they have to de pressurize you for basically like, two days to a week or whatever. Yeah. And he was like, yeah, it feels like you're drunk. Oh, yeah. Cuz I mean, I can't imagine his helmet weighed 500 pounds. He thought like when he tried to pick it up. Oh,
2
Speaker 2
14:14
yeah. That's when even if he is working out like a maniac, right, though, like that. It's
Law Smith
14:18
great. So if it was worse, if he didn't do that, it'd be way worse. I mean, they had
2
Speaker 2
14:23
him back in, you know, 2030 years ago, they had have to carry those guys off.
Law Smith
14:28
Yeah, it just be like, my baby. But I'm thinking like, 200 days, you got to satisfy some needs. That's all I'm thinking. Exactly. So it look business is ours, but we couldn't go 200 hours. I think I could last you 200 hours.
14:46
How many days is that? You did the math. over a week was 196 is a week. That's at least eight days.
14:55
Yes. Why would we
Law Smith
14:57
want Yeah, we're first off. We're never going to be In this predicament, so I'm not worried about it. Yeah, I'm gonna send us up for
15:06
biodome the best business podcast in space.
Law Smith
15:09
Like, these guys are fucking idiots. Yeah, they have their ego they'll go do it. Yeah. Yeah, we're like, would you do it if you if they if they came to you with the offer go do that.
15:21
I'd need a lot more specifics.
Law Smith
15:24
Let's call it Armageddon proposition. You know you don't have taxes for forever anymore. whatever amount you got to go up, there's no promise you're coming back. But you're likely to come back and 180 days I think was what you're supposed to do. Oh,
15:40
so the interstellar proposition
15:42
net well,
15:43
is that what you're
Law Smith
15:45
doing more Armageddon kind of offer? Oh, wow.
2
Speaker 2
15:47
You know the specifics on Armageddon? contracts. Movies. Great.
Law Smith
15:52
I mean, right there was Con Air. Yeah. Great hangover movies to watch. Face Off. It's that no, but they go we want we don't want to be taxed ever again. Right? Because the reason they bring a normal dude who like whatever oil drill guy, right?
2
Speaker 2
16:11
So made them teaching the astronauts how to work the drilling equipment. Yeah, Why do that? Double train? Yeah, everybody. And also send the giant guy from Green Mile.
Law Smith
16:22
You missed the montage.
2
Speaker 2
16:25
No, I remember. But I squeezed Yeah, I mean, they squeezed it all on him on tie. So it's easier,
Law Smith
16:29
right? But it happened?
16:32
Oh, it definitely happened in real life for sure.
Law Smith
16:37
Alright, so they come to you with a good promise. You're gonna go. You gotta go 180 days out. They're pretty sure you're coming back. Not Interstellar proposition because that's way different. Because that's the world collapsing behind you. If you don't go you don't you might not save it. That's what you think as you go out. Right. Which
16:58
How did they end up saving the world?
Law Smith
17:00
I don't understand that part. But
17:03
still haven't made it don't
Law Smith
17:05
have part. I will I have a lot of there's, it's so that movie is so layered that like, just understanding the wormhole proposition is is difficult enough and how there's a fifth dimension and how they see time. And in another galaxy. They see time as a physical thing. But they're letting us see it that way. They were waiting on us to get there. Okay. Yeah, he's sending messages back with a bookshelf and shit. Uh huh. Yeah. Ghost. Yeah. So it has that extra terrestrial, you know? Feel free. Yeah,
17:42
they're there for explanation. Yeah, we
Law Smith
17:44
don't understand everything sometimes. Right? Maybe that's how it goes. what those are, and so time aliens. And then and then I'm like, man, I gotta watch True Detective again, because times a flat circle. That and that talking about to create, like, both are different way different things he's talking about as the character or involved in. But Wow, talk about like, blown your mind for probably a year who's doing both those back to back I think.
2
Speaker 2
18:11
Yeah. Oh, man. I mean, Lincoln's is, ya know, I wouldn't go to space for more than like, two, three days. That's
Law Smith
18:20
not your option. This isn't no no till tonight. No, they NASA comes do your they come to you? And they go, look, you're gonna go for six months. You're probably gonna come back. We need an average guy. We want to test an average Dude, you're gonna have a crew around you. Thank you. You don't have to do much. Well, your average huh? You're not. You're not an astronaut. You're not a pilot. I'm saying like, they want to brag. Have your pilot. It's like a script done many a time we need to bring a fish out of water guy. But we need to test he needs to see it through the eyes of someone. So the same way they so that they all got the space first so that people that want to go to space. You'd be the guinea pig for that basically, you'd be the market research. Okay, yeah, so maybe you're the marketing executive whatever you want to call
19:10
an executive. All right now we're talking right now would not do that. Why would
Law Smith
19:14
I? You wouldn't go up to space.
2
Speaker 2
19:17
I would for a couple days. Seems boring. We got all do all the experiments and stuff. We totally just I probably didn't procrastinate the six months filling the data. Probably doing
Law Smith
19:28
Oh, this should work and how many people have gone into space? Not that many pretty sweet.
2
Speaker 2
19:33
At this point, I think the roster is pretty, pretty big. 100
Law Smith
19:37
Okay, that's pretty small. All things considered. Well, and you could be the game or you could be the gateway for other people experiencing that.
2
Speaker 2
19:47
Richard Branson is the gateway already. He's already no I'm saying he's already got a space airline
Law Smith
19:55
Branson calls you up.
19:58
But what what am i Doing Why do I call just go hang out? I don't get it up there.
Law Smith
20:05
You're going as the market research for what are they calling it? intergalactic, leisure, travel or whatever?
20:14
Well then why not make it three days like I want to?
Law Smith
20:16
Because it's almost I don't even know if he's going to spend three days and come back. Yeah, if you're gonna go up there go up there. Yeah, I think two weeks you have to Europe I think two weeks is like,
2
Speaker 2
20:27
I'm sure that's probably the minimum. Okay. Uber up there.
Law Smith
20:31
All right. We'll go two weeks.
20:33
I could do two weeks. Hell yeah. do
20:35
two weeks. All right. But you don't pay anything. They don't pay. I go for two weeks for free. Okay.
20:41
All space ice cream I
Law Smith
20:43
can eat. We'll talk about it will negotiate that in Mrs.
2
Speaker 2
20:51
Yeah, that's good. I just want the ice cream. I can eat ice cream straight for two weeks space ice cream. Yeah, I think it all tastes like kind of just eating rocks of, of vitamins and minerals or
Law Smith
21:03
whatever. It can be dehydrated. They dehydrate. And then the you can expand it up there a little bit. A little bit. You can warm it up. By interesting stuff. I don't know, I've been in that space, space kind of mindset, space, space, space space. But also thinking about we I don't know, we want to how do you want to talk about the research? We got? The UT stuff?
21:29
Yeah. I don't know. How do you want to talk about? whisper about
Law Smith
21:34
I'm gonna talk about business plans. Really? Okay, well, some advice on that.
21:38
Okay. Yeah.
Law Smith
21:39
So one thing we've brought up on the show bunch, but a lot of stuff bears repeating, because I doubt there's a lot of people going back in our episodes. And we should figure out what episodes are evergreen? And what are get someone to get some kind of lackey to do that. Yeah, listen to all of them. And whatever's timely. We should maybe post its evergreen episodes in the future. But that's an idea I'll write down and probably never do. You won't even write it down. I've written it down before going live. I can write it and we'll do it live. So one thing that surprises me when I get asked either by favor or you know a client to kind of assess their business a little bit, right? Do a discovery call want to talk talk to them, I want to and man, the amount of people that actually have a business plan is like, astounding. And it's crazy to me because I grew up in a the undergrad degree I did for entrepreneurship, Family Business Management at Auburn. We didn't know it at the time. It is what people do in grad school to get an MBA. And the teacher was a high level consultant, like high level, large business to business kind of consultant for mergers and acquisitions and stuff. So he did teaching on the side as like, just to keep them kind of fresh. Right, right. The ability to speak to people that have no business savvy, which is undergrad, sometimes undergrad, business students.
2
Speaker 2
23:15
rare to have any that naturally have business who is natural business savvy. Some people call a rich people. No,
Law Smith
23:21
no, I feel like some people have that street smart. I feel like I was way more street smart and be able to hustle than academic. Like exactly how it works. Oh, yeah. But I mean, like, yeah, he'd come in and talk about Blue Ocean Strategy and blue mind and then he'd be like, go figure out what I'm talking about. That kind of stuff. Yeah, he come in and go you for any point to the four of us that were like the fucking slap dx of the class, knowing knowing we could do it, but knowing that he's gonna give us the hardest thing to do. So he he would assign businesses you had to write business plans for right? And he goes, You got you four, we're gonna go right one for a crematorium. Or like, Fuck, really, dude.
24:01
But you had fun with that?
Law Smith
24:02
No, no, it's fucking morbid that with a creepy guy that's been wanting to open one since us five. Oh, that Yeah, we figured out how to network with the funeral home. Within 25 miles of him because it was rural. It becomes interesting to figure out the puzzle. But the subject matter I can take or leave it. We had to figure out what kind of machine to get. I remember a big discussion about that. Like, do you get this one that has a fucking viewport so you can see it happen? The body go in and get into the crematorium? Yeah, cuz he thought he thought the family might want to see it. And we're like, oh, I don't think that's a great idea for the family. But how about we make it a drive up crematorium? We make it very no frills, because that's what he is. You make a location between the five funeral homes you need to make a network with because they don't have it. And you figure out that spot and you just have the hearse drive up. Tell you what funeral director live streams,
2
Speaker 2
25:01
those things and get the permission to the family's badass Discord server or something.
Law Smith
25:07
But I'm not saying it doesn't have an audience. I'm saying this 15 years ago, too, you know, so yeah. You know that that thought is creepy that it is morbid curiosity of a very small segment. Yeah. As a public,
25:23
that's when you want to use ExpressVPN.
Law Smith
25:27
Right, exactly. So give me money. One thing that I always point people to is, I'm not a big government guy. I'm not a big like, on what they provide resource wise, but the small, small business was sm b.gov.
25:49
will wait. Okay.
2
Speaker 2
25:51
Small Business. small to medium business though the SMB? Oh, yeah. Whatever. They have a website.
Law Smith
26:00
What about it? Small Business Administration, SBA. Oh. SBA has a a business plan guide that looks like a form you fill out on any site, you're interested in something. Right? And it goes through and you fill it out? It'll ask you very basic questions. What's your mission? What do you want to do? And I think it has a little thing hovering over it, where you can go, what is the mission statement? What are core values? What is this? How do I phrase it? How? What's a pro forma?
2
Speaker 2
26:32
Yeah, I think there's definitely people who do that. Making business plans sort of thing for a living that kind of blow the proportions out of how difficult it needs to be, or it is.
Law Smith
26:45
What's the bounds of this? What's the reason for a business plan? Right?
26:49
Right, you should usually do one really fun thing.
Law Smith
26:52
It can be it can be to keep yourself on a pace. Because all you're really doing Yeah, setting,
2
Speaker 2
26:59
you know, you write a whole business plan just to keep yourself in check. Well, if you wouldn't go back and read that mission statement.
Law Smith
27:05
It's just like any, like campaign or objective you would be doing within any business. I mean, you don't have to make it 40 pages and include financials. But I'm saying like, I think it's prudent to do because it make what it does. It's the process of making you think about these forecasts.
27:24
Yes, that's, that's an exercise, right?
27:27
It's good.
Law Smith
27:28
Because you can easily avoid it. We always talk about a lot of small businesses, you're really good at one skill. And then you don't know how very rarely
27:37
is
Law Smith
27:38
the business. And what it'll force you to do is like a table of contents go down? Like, what are benchmarks to know, we're successful? What are our goals? How do I write a goal? You know, that smart acronym for writing goals? What, you know, what is the financials, if I took outside capital, being a bank, or, you know, being outside funding from an angel investor, you know, what are those things that I need to do? And what's the payback on that in a pro forma stance? because anybody that wants to invest wants to know that, you're going to give them their money back? And if it's an angel, you're gonna do it. Yeah, angel investor, they want to know, you know, and then some what's going on after that? What's the threshold to get another round of funding if you get bigger, because you might grow too fast. And in one scenario, you might have that already laid out. The number two slide I always heard in your deck, though, if you're ever presenting your, your, your pitch to anybody, the number two slide, I always heard from my professor, how to get out of it. exit plan, right? What's the exit plan? And that's what investors want to know. It's the same thing you focus on when you write a business plan. If you're looking for funding, how are they going to make money? Because they don't give a shit? Yeah. It could be the most ambitious, great idea that could solve a lot of problems. But investors come in, you got to play to the audience, right? It's very rare that they're
2
Speaker 2
29:01
as passionate about whatever it is, as you are, and they're more about making the money.
Law Smith
29:06
Now, if you can find like Shark Tank where, let's just pull that scenario because it's kind of ubiquitous. A lot of people understand it, like, you got five people. Some people are going, you really should go for the resources, non financial resources of the shark a lot of times than the actual funding.
29:24
So there's like a distribution network.
Law Smith
29:27
Mm hmm. Like you got something that should be licensed by the NBA. You want more Cuban to pick you up? Because he can make that happen?
29:34
Some kind of crazy space dildo
Law Smith
29:36
or you got a product that's perfect for women ages 40 to 60 space dildo. You definitely want this to go into space. Don't you want to the sharks, you want Laurie the QVC person, right? So, you know, there's because they're going to give you the access. Sometimes it's a lot of access. So if you can find That investor or that outside funding bank, or whatever it is the funding source that has a has kind of a bonus points if they've got access to stuff you need. Right. But also has an inclination for that industry that sector.
2
Speaker 2
30:18
Might that behooves you, right? It's not all just money. Bottom line no matter what, like, you can have $10 billion if you don't know what to do with it, or who to talk to. Yeah, you have $10 billion. Why are you walking around with that, but I'm just saying,
Law Smith
30:35
you got 4 billion, you know,
2
Speaker 2
30:37
sure. No, I'm saying, Yeah. Because at that point, the short Are you wanna what's the people? Aren't the sharks called?
Law Smith
30:45
The two? What
30:46
do they call them? They call man centers.
Law Smith
30:49
I should have a name they do? It's like the minnows No, it's nothing like that. It's like just the blank pictures. I don't know. Yeah. But yeah, it's one of those things where I was thinking about trying to help someone guide them through their business plan. I can't talk about it because NDA, but what I can't say I was trying to think about using some kind of marketing brain, on how to target investors that are good for the industry. She's trying to, she's trying to get ahold of,
31:26
okay. I feel it makes sense that not
Law Smith
31:28
so like you wrote a business plan, you have a great idea. You have a deck, right? But how do you Where do you go find the person?
31:37
So you're talking about connecting?
Law Smith
31:39
Yeah, the people they need. And so that's why my mindsets, kind of in that mode, where I was, like, you know, angels list Angel list is great stuff like that. By the way, if you don't have a business plan sba.gov has that foreigners tell you about? And I think it's because plans.com they have templates. Supply plan is one I've used a biz plan.com. Both are good, I've used both of them to, to help people to kind of collaborate and write out, especially if you're remote, those two are great, because you can have people that log in and kind of edit over stuff and give outs if you're working kind of in that message in a bottle kind of way where you're having to wait for someone to kind of look at it, give notes they might do in the middle of the night, your time. You know, you can write that kind of thing. Or you can do it in Google Docs, like a lot of people do, which I don't like
32:32
I don't like it either. I
Law Smith
32:33
don't know why. I don't like we don't like it because we jump in so many email accounts that Oh, it sucks. I think I think that's the big reason. Yeah. And Gmail was down yesterday.
32:44
Whoa,
Law Smith
32:44
did you know that?
32:45
Yeah,
Law Smith
32:46
shut down. A lot of people. So those are those are places to go for business plan help. I feel like templating and writing it. Read as many as you can, because that'll help they're not that they're not as long as you think they are.
33:03
Yeah, and don't let it get scary for you.
Law Smith
33:05
They're not nearly as hard as you think to put together either.
2
Speaker 2
33:09
We need to think about it so that you don't cram it in. You don't do it at the last second or something like you know,
Law Smith
33:15
into think you inherently know every aspect of it launching a small business is insane. Without it I just should know it by knowing it. Oh, I
2
Speaker 2
33:25
know it. Yeah, it's that's an ego thing. But it's
Law Smith
33:30
nobody. Ego can mask itself underneath like I'm busy. Right? Which is ego, right? Because you're not taking steps to really go Am I doing this? Right? Yeah, but at the same time, I feel like the emotion of like, do these things don't add up and all this stuff you don't know and all that. It can it can give you that kind of anxiety.
2
Speaker 2
33:49
Why? Oh, sure. Yeah. I can overlook how big it is. And then the clouds clear and it's just a tiny Hill.
Law Smith
33:55
If you were trying to build a house would you not write as much plans and understand it as much as you could?
34:02
Yes. blueprints
Law Smith
34:04
Yeah. And get outside help. If you had to figure out how to build a house on your own same thing, I think. I mean,
2
Speaker 2
34:10
what is the scenario I have to build it on my own but I got outside help. What's the deal? Yeah, okay. Just hire contractors and right okay, well, then I'm
Law Smith
34:18
not doing the same thing with business plans and stuff. Sure. You ask for advice. You pay for some advice, just saying what scenario somebody like you have to do this on your own. Your bill you bought land out in Oregon, that you want to build a house on? That no one will come in there. Oh, so you got to do it on your own?
34:37
I don't know. dangerous.
Law Smith
34:39
Thanks for the sand on that. But yeah,
2
Speaker 2
34:41
I was just because I'm asking about it. You just don't know when to accept that. My negativity is the sad
Law Smith
34:48
Oh, yes. And but but as well but I'm not dying by sanding it. I'm
2
Speaker 2
34:53
just busting your balls on what scenario that is. I'm actually the one standing you're not like calling it off.
Law Smith
35:00
negated
35:01
sucks.
35:03
Well, we are done. Okay, it's it's your ball and go home fine.
35:12
You're just joking. We love each other
