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Entrepreneurship for Wealth, Healthy Relationships, and Overall Well-Being
In addition, Robb is a private investor who buys, optimizes, and grows businesses. As the mastermind behind the development and execution of strategies aimed at e-commerce brand establishment, he also helps owners exit their businesses while preserving their brands.
Here’s a glimpse of what you’ll learn:
- [02:16] Robb Green shares his professional background
- [03:20] How to successfully create wealth and positive relationships while maintaining your health
- [04:58] Advice for balancing work and family life
- [09:24] Robb’s experience successfully running multiple businesses
- [14:41] The genesis story of I’m The One podcast and its focus
- [16:38] Robb talks about self-education and personal growth for entrepreneurs
- [23:38] Mergers and acquisitions insights
In this episode…
Success is more than just financial wealth — it’s also about building a life you love. Whether you’re a seasoned entrepreneur or just starting, how can you create a success story encompassing all aspects of your life?
Robb Green is a renowned expert who empowers entrepreneurs to build wealth, cultivate healthy relationships, and achieve overall well-being. Many entrepreneurs struggle to balance their business aspirations with their personal lives. Pursuing success often comes at the cost of their health, relationships, and family time. However, it is possible to achieve both personal and professional success with appropriate guidance and support. By sharing his proven methods and practical advice, Robb helps entrepreneurs create a success story that lasts a lifetime.
In this episode of the Quiet Light Podcast, Pat Yates sits down with the inspiring host of the I’m the One podcast, Robb Green, to discuss how entrepreneurs can thrive in all aspects of life. Robb shares his insights on how entrepreneurs can create wealth, build positive relationships, and maintain good health. He provides valuable advice for entrepreneurs on pursuing self-education and personal growth and also explains what motivated him to start his I’m The One podcast.
Resources mentioned in this episode:
- Robb Green on LinkedIn
- I’m The One podcast
- Quiet Light
- Quiet Light Podcast on YouTube
- Joe Valley on LinkedIn
- Pat Yates on LinkedIn
- Mark Daoust on LinkedIn
- Quiet Light Podcast email: [email protected]
- The EXITpreneur’s Playbook: How to Sell Your Online Business for Top Dollar by Reverse Engineering Your Pathway to Success by Joe Valley
- Think and Grow Rich: The Landmark Bestseller Now Revised and Updated for the 21st Century by Napoleon Hill
Sponsor for this episode
This episode is brought to you by Quiet Light, a brokerage firm that wants to help you successfully sell your online business.
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If you’re new to the prospect of buying and selling, Quiet Light is here to support you. Their plethora of top-notch resources will provide everything you need to know about when and how to buy or sell an online business. Quiet Light offers high-quality videos, articles, podcasts, and guides to help you make the best decision for your online business.
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What are you waiting for? Quiet Light offers the best experience, strategies, and advice to make your exit successful. To learn more, go to quietlight.com, email [email protected], or call 800.746.5034 today.
Hey folks, it’s the Quiet Light Podcast where we share relentlessly honest insights, actionable tips, and entrepreneurial stories that will help founders identify and reach their goals.
Pat Yates 0:32
Hello, and welcome to the Quiet Light Podcast. Again, I’m Pat Yates. Today we have a great conversation. I’m so excited this week to talk with Robb Green. And this is more of a personal and focus type of entrepreneurial conversation not necessarily focused on any one business. I was really taken by the early conversation with Robb about his focus on family, I think we found and struck up a relationship here that is kind of going to endure because we both have family-driven focus on our business how, as an entrepreneur, we both come in, and we focus on business making sure that it’s done right, but also in a way that we have the ability to focus on family. He’s a coach. He’s a wealth builder, he’s done entrepreneurship, he talks about building relationships. And the interesting thing I say on here he did 17 brands, people gave me some bad information, he’s actually done eight. But still, it’s amazing to be able to build that many brands back active in the market looking to buy some other businesses. I mean, Robb’s just a serial entrepreneur, a fun guy does his own podcast that we’ll talk about during this, but it’s just a great conversation to listen to a guy that’s passionate about business, wealth, building relationships, and family. And I’m so excited to talk to Robb Green today. Let’s get right to it. Robb, it’s great to have you in the Quiet Light Podcast today. How you doing?
Robb Green 1:45
I’m doing well. And thanks for having me, Pat. I appreciate it.
Pat Yates 1:48
Of course, I know you have a real history here, you knew Joe Valley, and you’re still willing to come around us after meeting him and Walker and some of these other guys. So I’m super excited about this because when I do the podcasts, I like to do a lot of fun stuff. I like to do a lot of things that are actionable. And obviously there’s sales and business. But you take a really interesting approach, you have a three-pronged approach to how you do business and some of it has nothing to do with business. So I’m anxious to hear all about it. First of all, tell our listeners where you’re from about you maybe a little bit about your background.
Robb Green 2:16
I appreciate that. From Minnesota originally been out in Arizona since college, I grew up in the cold, great place to grew up. But honestly, I’m cold is not for me, man, I’d like to fly to it or drive to it and then fly back home in the sunshine. So I’ve been out in Arizona for 20-some years out here and married two kids loving my life and really focus on the business and it allows the freedom. I mean, I think that entrepreneurism is the opportunity and it creates an extraordinary life. And that’s how I think about it. It’s not just about act acquiring money and making money.
Pat Yates 2:47
Yeah, it’s really interesting you say that, because I’ve talked to some people before about my business. Obviously I have my Shark Tank e-comm Business Happy Feet Slippers, shameless plug, as usual, I usually don’t talk about it very much, truly. But some people sort of go through that and talk about how great it looks on the surface, everything. They don’t realize the struggles, and sometimes those struggles jump, not only from business, they jump into family, because you end up running your days long, and then you’re stressed and tired, you may not want to hear it. So tell us about your three-pronged approach of how you go about your day in your life and business in general, because I was really curious to hear that approach.
Robb Green 3:20
Yeah, I got this from a buddy of mine a couple years ago. And the idea is really it’s three pillars, right? It’s the wealth, it’s the health, and it’s the relationships, how can you be in all three categories at the same time? You see most of the time you see guys that have a ton of wealth, and they’re out of shape. They don’t have relationships, they’ve been divorced three times, right. And a lot of times in the short run, you do need to make tradeoffs, right, because we all had that push entrepreneurially where you start a new business, you start a new brand, you maybe got to pick up the hours, and you got to work extra hard in the beginning. But how do you get back to the point where you got an A in all three categories. That’s the goal that I think about all the time, I try to stay in great shape. I work out religiously spent a ton of time with my kids, I live in Arizona, so it’s super-hot. So we leave within two days of school getting out. And we don’t come back until two days before school goes back. And we’re gone the entire summer. And that is a phenomenal honestly, the business part of it allows me to do that. Right. And so that is something I’ve designed my wife and I’ve designed, more than a decade ago, when we first had kids, I was like, I don’t want to be in a job where I can’t enjoy my time with the children. And I have to not be able to travel during the summer, when is the opportune time when the kids are out of school. So I really think about those three categories and how I can win in each of them. And again, there might be short-term, you know, down a little bit up a little bit here. But how do I get an A in each of those three categories?
Pat Yates 4:41
It’s really incredible. Some people would say how do I get close to an A or something it’s like some people think you can’t be perfect every situation but maybe in that situation if you shoot for that A and you still feel like well, I got to be plus you still feel very solid, about how you’ve done things. You mentioned obviously the family feel. Tell us about that. How old are your children?
Robb Green 4:58
Yeah, two daughters. I have 14, 13 the 14-year-olds didn’t turn 15 next month we’re talking about cars and driving next year, but really close with both girls. They play sports I coach a little bit. My wife’s heavily involved in school and committed to spending time there. Funny enough, we met with our my oldest daughter, my ninth graders counselor recently, she moved in ninth grade this year. And somehow I said, I want to be more involved in the school. And my wife did all the work, it’s all credit to her, I am now eligible to be a substitute teacher. So I don’t know how this happened to be honest. It was my idea and in all fairness, but I want to be a substitute teacher, maybe one day a month, maybe two days a month, where I can go in and I can put faces to the names of all these kids. So we’re involved with the I hear all these kids names. There’s different kids all the time. I want to put faces to names and they know who I am. Know that I’m Dylan’s dad, and I know who they are. So I mean, I’m at the sporting events, but it’s just different to have those interactions with kids. So I like teaching and coaching. So we’re gonna try it and see how it goes.
Pat Yates 6:01
That’s an amazing idea. Plus, you get to embarrass your kids while you’re there. You could like wear goofy outfit or stuff that they’ll hate that you got embarrassed. But out of interest, what do you coach?
Robb Green 6:13
So I’ve coached everything for the kids. I mean, I played a lot of sports growing up, so I’ve coached soccer. I’ve coached volleyball. Right now I’m coaching my oldest daughter, and I’m not a runner. I’m just more of a soccer player. But I’ve coached her in cross-country running to get her out. We did hill repeats out in the mountain on Sunday, actually.
Pat Yates 6:30
The people that are listening, don’t realize we take a few minutes before and kind of talk and I told you I thought we had a lot of synergies because I coached for 10 years in high school as a paraprofessional coach, as an assistant coach. So I knew exactly what you go through that my son was a cross-country runner. Right cross country and my oldest won three state championships in high school and the middle son was on one of those teams as well. So running is big in our lives as well. So yeah, it’s really amazing, because I think you draw so much and you get so much time because one other thing on this, like you talk about lifestyle. And it’s interesting, because you’re talking more about business as a lifestyle than business as a job. It’s those are two completely different mentalities. Because in the afternoon, if you want to go coach volleyball at 3:45, you need to be able to do that. But you’re gonna come back and work from 6:30 to eight, tell us about how you made the commitment to be able to do coaching and things that are extracurricular with your kids, but still balance that time when you had to work. I mean, I know that was tough for me, tell me how it was for you. It is right now still.
Robb Green 7:27
It is a challenge. And part of the reason it’s a challenge is I love what I do, right? I have a great team, and I thoroughly enjoy it, I look forward to coming to the office, which when I had a job, I didn’t really ever get excited about going to work, having my own business and actually creating the right team and the right people, I get excited when I go away from vacation, sometimes I’m excited to come back to work, which that’s the hard part because I love doing it. But I also love spending time my family. So I’ve got to balance a couple of things that I love. And really what I try to do is I try to design it right? So I think of myself as an architect, how do I design my life? The way that I want to design it, right? So how do I create the freedom to be able to do the things that I really want to do? I mean, you’ve got your kids are a little bit older than mine, they grew up fast. And this time is going to be gone really, really quickly. So I’ve got a ninth grader and a seventh grader, how do I maximize that time, and really, they’re at school, these amount of hours, those are my work hours. Sometimes I’ll go outside of that. But the goal is to keep it limited to those hours. And then they’re busy or something, I might do some more work or do some of my wife, but I really, really focus on trying to work when they’re not available so that I can spend time with them when they are available.
Pat Yates 8:34
Yeah, that’s incredible. I think that I think a lot about, what you just said and coaching for me for 10 years when my business was growing was really, really hard. But I said to myself, and I said everyone else, I’m gonna be out the house at 3:30 for 3:45 practice, I’ll be back at about 6:45 and have to work in the evening, or I worked earlier in the morning. But I made that commitment. And what an entrepreneurship lifestyle gave me was an opportunity to spend more time with my children doing that which is really incredible plus bonding with other kids. So I get that part of it. It’s definitely there. So one of the things I wanted to pivot to and kind of talk about I know you’ve been just an ultra-successful entrepreneur building brands and my understanding is you built 17 different brands, which is kind of crazy to think about because when people think about one and how much it stresses them think about if you have them going on concurrently so maybe give us a rewind and overview of how you did that and maybe what some of them were.
Robb Green 9:24
Thinking about I got a little bad information and wish it was 17 Pat but it’s only been eight, so we’ve actually started getting bought one sold three of those and currently have five in place right now.
Pat Yates 9:35
Okay, well then I gave you bigger props than you deserve but let’s go to those then. And they’re gonna have to check your sheet because that definitely says that we probably started maybe not exit them all though. That’s on my team I’m sure. That will be on them and we can blame them. But I’m not going to edit it. Hold on Let’s not edit it, but 17 just sounds better. Just keep going.
Robb Green 9:55
Well, I’ve always been agnostic about it and to be honest with you one thing I’ve got from a lot of my friends in this space, that are really focused on one brand is that I tend to go a little too wide. And so we are actually focused on narrowing our approach now. So we want to go deep on one brand, maybe two, but really one brand. So that’s what we’re looking to do right now is acquire a much bigger brand, and then probably sell off the existing brands that we have now engaged deep into one that I’m really passionate about. So we’ve been looking at what kind of brand new acquire and we’ve been doing outreach, and I built a simple model to identify opportunities that our core competencies and what we can actually do and improve the brand. So we’re gonna narrow our focus, I think my original desire to go wide was we’ve got skills around e-commerce, Amazon, some sourcing skills, how do we actually just find opportunities, and then go into those opportunities. And I think that’s given me a lot of diversification, but probably not the overall reach that I could have reached, if I had gone to one brand only to be honest with you.
Pat Yates 10:58
That makes a ton of sense. So what you’ve learned in your businesses you’ve gone through now you have your eyes set on something much different, that can be a little bit bigger business may be condensed at all. So when you’re looking at businesses you run, what kind of strengths do you have? What do you really focus on? Some people are really numbers driven? They have to look at the metrics, others are field-driven, some are marketing, what are your specialties and you hang your hat on an e-comm?
Robb Green 11:20
Yeah, I’d say it’s data-oriented and then problem-solving really difficult problems, right, I tend to spend some time on the Amazon algorithm, try to reverse engineer what’s happening. And then it’s just data analytics, numbers have always come easy to me. So many sellers don’t even know their lifetime value. They don’t understand their basic dash boarding. You’ve probably seen this a million times talking to a lot of these guys who want to sell their business. When we do an outreach to somebody and we talk to someone, they’re never accurate on how much they make. They always say they make more money. And then we’re like, listen, we’ve got scripts, we can build financials for you pretty quickly in a day, just give us the reports. And then we have to educate them, like, hey, you said you make this much, you actually don’t make any money. And here’s why you don’t make any money. So we’re really good at the financials in the data side, and then being able to solve around that and give the customer what they want. So I don’t think we’re great at product. I think we’re good at product. I don’t think we’re good at sourcing, but really, it’s around the data side and the math side of it, to be honest with you.
Pat Yates 12:22
That’s amazing. So which one was your favorite of all the ones that you had or own or exited any of them? What was the most fun business to run?
Robb Green 12:29
Gosh, I mean, probably the biggest exit would have been the most fun, I think. But I still run into an aggregator a few years, a couple years ago. But actually, if I’d say fun, I have one right now that named after my daughter’s. And it’s just some arts and crafts for kids and hand-casting kit and things like that. So we named it up my daughter’s there and all the videos and photos. And it was a way to incorporate them into the business. So I don’t really believe that you want to turn it off and on right family here business here health here. I like to integrate everything. I think it’s difficult to balance if you switch off. So I took my oldest daughter right before COVID to China with me, she was just turning 10. And I took her to China for nine days. And we had trade shows and visited factories, and she’s been to China, they understand how the businesses work. They have been in pictures and videos, and they’ve done like product research for us. I’ll give them a product and they’ll break it down and try to understand, hey, why does it sell well? What do you think of the packaging? What do you think of the instructions? So we try to incorporate the kids as much as possible?
Pat Yates 13:36
That’s really amazing. Because it’s funny, because when I go on the road, there’s some speakers that I see out there. And one time one of them brought his son and he was just trying to train him on public speaking and the kid had to sit there and watch it. And you know what, after I thought about it was one of the greatest things they ever did. And actually, I went to a Shark Tank reunion, a group that I sort of traveled with, we have a reunion in Vegas every year. And one of the guy that organizes it, both of his sons, our son and daughter had to work in the show that like giving out badges first, setting up stuff, putting up speakers and things like that. And then at one point, they were on stage and they got to interview somebody who was a start-to-finish understanding of how to run a tradeshow and I looked at it and went, this is awesome. They accompanied their kids in it. I wish that I’d have done that more when I was younger as building e-comm business little harder that way. But that’s definitely awesome. So I know that leads me where I wanted to talk about so you have your own podcast called I’m The One and you definitely concentrate on that building wealth, relationships and well-being. Are there any that take priority? Are those in any order? Is the person supposed to decide? Tell us about the podcast and how you focus on that?
Robb Green 14:41
Yeah, so the podcast is something new. We just launched it in August. My team actually came up with the idea they told me in May before we left for summer vacation that I was going to do a podcast and didn’t have a choice. So they came up with an idea. I came up with a name and they said listen, we want you to be able to reach more people. We love what you teach us stuff. We’re going to do this, we’re gonna figure this out. I said, great, that sounds awesome. Let’s do it. So that’s how the whole podcast actually, the idea came to fruition. It’s been a ton of fun for me. And it does allow me to have conversations around some of the topics that I’m passionate about. And then I mean, I share these ideas, my friends, my family anyway, now I could just point them to a podcast and be like, hey, you want to talk about cold plunge and health? Great, it’s episode, whatever it is, go pay attention and go check it out and listen to what we’ve got going on. But I think that the biggest thing for me is how do I scratch my own itch. I’m constantly trying to learn, and it forces me to learn and be prepared, and then share what I learned. I’ve got a mastermind with a bunch of friends in e-commerce that we do this, we get together every four months, we share ideas, we have conversations, I love helping other people. And so for me, it’s an opportunity for me to share what I’m learning and what I’ve learned, and hopefully help other people.
Pat Yates 15:52
That’s a great thing. I mean, I am really the same way. It’s funny because I’m talking with a group here in Louisville, Kentucky about working on some things and e-comm, an incubator to help entrepreneurs grow. And I think it’s all about being a little more philanthropic, now at my age, and now you’re younger than me. And looking at that focus is something that every entrepreneur should be doing, especially if you’ve accomplished a lot of things been a lot of places like, you need to share that knowledge with other people. And I think the way that you’re talking about it is really amazing. So I know that we talked about some questions, I know you’re big into continuous self-education. I didn’t even want to preface that by anything. And I was curious when I read that, because a lot of people won’t admit that they want to continue to self-educate and grow as an individual. They just think, well, I’m here. So what makes you focus on that much? And maybe what are you working on now.
Robb Green 16:38
I’ve got a friend of mine as a PT, and Japanese. And we talked about Kaizen, which is that constant, never-ending improvement, right. And I guess, I don’t know where I learned it. But I’ve always believed that I’m always trying to get better, right, and actually open the podcast with a quote that I love, which is, treading water is like drowning to people like you and me. And that’s what I feel like when I’m sitting still. And I’m not actually growing and learning. So I think about it in a couple of different ways. I do two groups that allow me to work to learn in a couple of different capacities. One, I co-founded a mastermind e-commerce space called no BS. So we’ve got 11 members, we get together three times a year for the last six years. And we all just share best practices. The biggest thing about that the smartest thing we ever did is nobody makes any money off it. So the only way you can attend is by continuing to add value. So if you don’t add value, we all vote. And unfortunately, we’ve had to ask a couple people to not be a part of it anymore. So I get a little bit flack, sometimes from those people when I see them. But the reality is that everybody shows up and very successful people. And you know, once people make a certain amount of money, it’s hard to keep them engaged. So this is continuously everybody adding value to each other. It brings out the best in all of us. And we all learn and get better together. The second thing that I do is I do strategic coach, which is a Dan Sullivan program has been around 30, 40 years, I go to the group in Santa Monica, been in it for years now. It’s all sorts of entrepreneurs, about 40 people in our group. And they taught me all different concepts. How do you get more time? How to get more freedom? How do you understand what you’re doing? How do you get build a self-managing company and then a self-multiplying company? So that has all those aspects to it from the business side, and we end up talking honestly, we all talk about health. Every time I go to the meetings, we’re always talking about, hey, what’s going on? I’ve now become the cold plunge and sauna guy somehow. And so I got peppered with questions last month when I was there about what I’m doing to try to stay healthy and try to stay optimal. I’m trying to Benjamin Button this thing, Pat. I’m going backwards. We’re getting healthy year over year, buddy.
Pat Yates 18:46
There you go. I think that’s a great approach to it. It’s really amazing what you said about the mastermind, though. So as we go to a lot of sponsors are Quite Light will end up going there and doing our speech to add value and stuff. And it does every year, it seems like it grows and the talk the expenses, and some of it seems focused on profit, which I understand they have to cover costs and if they’re making money on a great but your focus of add value or get out that’s not. That’s a rudimentary way of saying it. But yeah, we kind of amazing because you either have to put up or shut up and a lot of people sit around and just listen at masterminds. And that’s not a good process. I mean, how has that worked out for the group? Do you feel like that adds the value just because you do that one simple thing?
Robb Green 19:23
Absolute game changer because I had gone to some expensive masterminds before this. And that’s exactly what you say, when someone pays a lot of money. A lot of people just show up, and they sit down. They say listen, I spent all this money. I’m here give to me, right? So to turn that around, change the paradigm. The difference is when we all share the cost when we get a couple of houses. We’ve done them all over the world, but we do in Scottsdale now here in Scottsdale all time. And so we get a couple of houses, we get a chef. We have a great time we spent a few days sharing everybody has to present and then the idea is that we all have to add value. A lot of us have known each other now for six years, seven years. So we understand the other person’s business. So there’s so much value, I’ll see opportunities in like home goods. And I’ll call my friend, I’m like, hey, have you seen this, check out this product, it gives you a reach. And this concept is not a new concept. It’s from Think And Grow Rich and man going on for hundreds of years. But if you get a bunch of like-minded people that all want to grow in the same direction, and some of these guys have exited, and not even e-commerce anymore, but still in the mastermind, and now they’re doing maybe real estate. And they’re adding value from a real estate or an NFT perspective, or a Kryptos perspective. So the big thing that we do is, that’s the core foundation. And then we typically add three to four guests, every mastermind, and then they come from a brand new, they give their opinion, occasionally, we’ll add somebody, or maybe it’ll be the person who comes once a year as a guest. Right. And that person will come once a year, because they’ve got a certain expertise we don’t have in the group, or they’re just a good person to have in the group to add value and something new that’s going on. So, it’s one of the most valuable things I do from a professional and a personal perspective.
Pat Yates 21:03
That’s really amazing. Yes, that’s a good way to go about it that everyone feels it’s incumbent on them to add something. And usually that’s going to change a conversation versus sitting in learning, I guess this thing would be like a lecture. That’s really incredible. So as we get towards the end of this, you know what, I was really drawn to what you said about family and how you balance that because anyone that knows me knows that that’s been the first focus of my mind. It’s always been family first and business second. But I found a way to make sure that I can balance them all. But the only time that I ever got concerned about it was you carry all the good things everyone celebrates. But when you have bad days, and you’re having bad months, and six months, sometimes people end up different people with their family they carry with them every day, if they’re around with them, being an entrepreneur and not the easiest thing. How do you suggest or how have you balanced that in the past when you have tough times? Because that’s obviously part of this work-life balance you’re talking about? You’ve been in the doldrums of that? What’s the key? What how do you get past that if you’re an entrepreneur?
Robb Green 21:59
Yeah, one of our core values here is radical transparency in the business. And we have the same radical transparency at home. So my wife, and I don’t hide anything from the kids like, hey, if it’s a difficult time, or something’s going on, I share with the kids, hey, listen, we’re having challenges here. Oh, this has happened. And here’s a lesson that we learned from it. I mean, I try to teach the kids like, there’s no such thing as mistakes, just learning opportunities. So that applies in business and in personal life. And I think it’s easy to tell your kids something, but it’s far more impactful to show them. And if they see me go through that, and ride the ups and downs of being an entrepreneur, which we all have, it’s never a straight line. It’s always a roller coaster, right? So there’s always going to be ups and downs. And I just think it sets them up for life. One of the best things I ever heard was our job as a parent, is not to smooth out the road, it’s to enable the children to handle the bumpy road that’s going to happen in the future. So that’s what we try to focus on.
Pat Yates 22:57
Yeah, I 100% agree with that. I think that one thing you’ll find out that I know a little bit more now than you do is how to be involved with adult kids. But the funny thing about that is I’ve transitioned from exactly where you are the father, the coach, the high school thing going in and doing all that and the kids go out and go to college, you come away, and it’s harder to raise adult children but treating him like that and this stuff, the work you’re doing now to make them successful, all pays off in the end, because their lives are much better. And my sons are just great young men. And I think it’d be the same way with your daughter. So Robb, is there anything that you would like to tell the audience that maybe we haven’t covered today? I know we talked about a lot, I got really excited about the personal side, but anything about the business yourself or any other topics you think?
Robb Green 23:38
I mean, I think that this has been a great conversation about, I’d love to talk about a little bit more about what you guys are doing and seeing in the space to be honest with you. We’re looking to acquire businesses, we’ll probably sell some, I try to stay in touch. I’m on your newsletter and watch the pod and try to listen to what’s going on in the space. What do you guys see right now with Quiet Light and what’s happening in currently in the e-comm space and how the valuations are changing aggregators getting upended a little bit. What’s your take on the whole market right now?
Pat Yates 24:05
Yeah. Now, you that are listening, obviously, this is probably in late November that I think we’re airing us. Right now, we’re sitting in the first couple of weeks of October, but it’s not that much different. As far as the climate you’re talking about M&A has been way different this year. Even though Quiet Light is still having a great year, we’ve been growing every single year, we’ve had a good years, the feel that I have, my touch and feel what the industry says that things have been down that entrepreneurs have been struggling that credit lines shrinking because of interest rates and money, cost of money going up. It’s going to affect product flow in for the fourth quarter. I think the only thing I’m concerned about in any market right now is that I think there’s a lot of people that have a lot riding on q4. And if it doesn’t work out, well, I have a weird feeling. There’s gonna be some serious small business problems in the beginning of the year, that’s what I’ve said all year when I go to the Shark Tank reunion. I’ve been to 10 shows this year. And all of them say the same thing. It’s good, but it’s not great. We’re down a little bit we’re down a bunch, how’s the market the same questions. I think everyone just has to fight through the situation right now. We got a lot going on in the world. But at Quiet Light, things are still really good. I mean, people know us, we’re more Nishi. We don’t take every listing. We typically work with great entrepreneurs, and we bring things to market. But I hear some more optimism in the market right now. So every conversation we’ve had in the last three weeks and last part of September, has said that the market is getting better. So I think there’ll be a lot of good lead flow into the last part of the year, it’s just going to be a question of how the economy recovers in the United States into the beginning of next year. It’s like, I don’t care what anyone says we’re in recessionary times, call it what you want, I don’t care. And I think with that, with interest rates so high, it’s hard to get lending to buy up companies, you need things that can have cash. So cash buyers have been in a better position. But I think things will change a little bit as interest rates hopefully drop starting early part of next year. And then we’ll see. I mean, what are you seeing out there you think?
Robb Green 25:54
You hit the nail on the head, almost everybody we’ve talked to is banking on a big q4, whether it’s a couple of new products or selling through inventory. I’ve heard this a lot in the last two months, about, oh, we got this going to happen in q4. And I said, okay, well, if that doesn’t happen, then I’d love to talk to you the first week in January after q4, and let’s see what happens. So that’s one thing but just on a separate note and cut this out if you want but did you go to the Shark Tank event in July this year in Vegas? Yeah. Yeah, I almost went to that. I advised for a company up in Seattle. And we had purchased a business, a brand that was attending the event and we were in Hawaii for the summer. So it wasn’t worth the flight back to Vegas. But I heard it was a great event.
Pat Yates 26:44
Oh, it was an exceptional event. We actually had one of the greatest dinners I’ve ever been to a place called Beauty and Essex and the cosmopolitan but that’s coming up again this year and listeners out there they’re still hanging on with this, we’re talking more structure this. There’s a lot of different shows you can get into I believe the Shark Tank if you’re out there, and you’re a Shark Tank company, been on the show, look up Shark Tank Pals on Facebook, you can join that and then be able to come to the reunion if you’re one of the companies that is air that’s sort of the cutting line, they make sure that you have aired on it, but there are extensions. But I think next year it’s going to be in Nashville and will probably, I think they said maybe Nashville in like July, people are worn out with Vegas. I feel like it’d be on 100 times this year. It’s literally crazy how many shows are in Vegas. But in any event? Yeah, I think that’s a great look at it. I think people that are out there looking to buy businesses, be patient. It’s kind of like the housing market. I think the housing market needs 18 months if someone’s really wanting to try to get in there because interest rates need to go down. I think businesses is more like six months, I think when you get into March and April, I think people will start looking at good solid businesses. And if you’re looking to buy one, get out there. And if you’re a seller, come to a broker like me or anyone and get good advice, at least see where you’re at. And then find out if you have an opportunity to sell your business or keep running it.
Robb Green 27:52
I mean, as a seller and a buyer, I cannot agree with you any more than that, to be honest with you, get advice. I mean, most people never sell more than one business. Right? And so they’ve got no experience. And I’ve helped a bunch of friends sell their businesses, and they have no idea. And there’s those little things, you know this already Pat. So I’m preaching the choir here. Those little things make a big difference at the end of the day, whether that’s negotiating terms, whether it’s pricing, whatever it might be, there’s a lot of little things. If you’ve never done it, you don’t know you don’t know.
Pat Yates 28:23
Yeah, that’s exactly right. At Quiet Light, we say that all the time. You don’t know what you don’t know when you’re buying a business. So that works on both sides. But man, Robb, this has been amazing. I will sit here talk for hours. I love your focus on entrepreneurship, wealth building relationships. It’s awesome. So guys, if you and the podcast is I’m The One, I’m The One Podcast. But if people need to reach out to you tell them how they can reach you Robb.
Robb Green 28:47
Yeah, I think imtheone.com is the best way to do it. There’s a Q&A on there. I’m on Facebook. I’m on LinkedIn, either of those workouts. So it’s Robb Green with two Bs ROBB and then Green last name because of the color.
Pat Yates 29:01
That’s awesome. Yeah. So in there, you can just submit a question. People have fun with that if they go on there. Yeah, absolutely. Man, it’s been great Robb. I appreciate your time today. I appreciate you being on the Quiet Light Podcast. It was absolutely awesome.
Robb Green 29:13
Thanks so much, Pat. I appreciate it.
Today’s podcast was produced by Rise25 and the Quiet Light content team. If you have a suggestion for a future podcast, subject or guest, email us at [email protected]. Be sure to follow us on YouTube, Facebook, LinkedIn, Twitter and Instagram, and subscribe to the show wherever you get your podcasts. Thanks for listening. We’ll see you next week.