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Business owners are a special breed.
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They re determined, resolved, the embodiment of self-reliance and self-determination.
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But it takes more than just these traits to be successful, especially right now.
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In this special bonus episode, you ll hear the six things that Tony is doing to take charge of his own businesses, to defy the odds and emerge from this challenge with certainty and strength.
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Here s Tony.
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Hey everybody, it s Tony Robbins.
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Listen guys, I know this is an incredibly tough time for all of us and I can only imagine as a business owner, the kind of stresses you re under because people are stressed from the fear of the coronavirus.
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They ve got stress worrying about their family, often having their kids at home.
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And then you have all your employees, your business, your clients and everything else.
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And for the first time in history, we literally shut down the world economy.
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So you know what s going on.
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I just wanted to see if we couldn t offer you some help and some solutions.
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Every single day we have, you know, 1.35 million people die in a car accident.
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3,200 people die every day.
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And we don t stop driving because other people could injure us.
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They do every day.
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They cross those yellow lines and it happens.
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But what keeps us going is we re born with faith.
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I don t mean religious faith.
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I mean faith.
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The ability of certainty in spite of the uncertainties in the world.
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There s uncertainties every day.
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You walk across the street and you re hit by a car.
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You re driving down the street, 60, 75, 80 miles an hour, and the only thing dividing you from the crazy is a little yellow dotted line.
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And you know, every day people lose it and cross over and kill somebody.
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Some people do it because they fall asleep.
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Some people do it because, you know, they re messed up in the head.
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Some people do it because they re texting, right?
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There s so many happens every single day, 3,200 people a day.
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But we don t say we re never going to drive because we can hurt each other.
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Or how do we drive?
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Say we re gonna have to run your business with faith, with a sense of certainty, even though the world s uncertain.
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You gotta bring that forth.
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That s what makes you a leader.
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And the way you do that is you know the consequence of not doing that.
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If I m not willing to have faith, if I m not willing to have certainty, even though every day somebody could kill me, then I have to stay home and do nothing, which is basically where we are in our lives and businesses right now.
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So faith, we have the ability, but we use it because we know the alternative is to have no life.
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And so we re going to be going back to work and our lives soon, but not everybody s going to go back with the same head.
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And so what I really wanted to do here is maybe just give you six quick little items to think about as triggers, just a little trigger that I m doing on all my companies.
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you know, 54 companies, 12 that I actively manage, and they re everything from AI companies to a resort in Fiji to, you know, the LAFC football club, our MLS Major League Soccer team.
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And just like that s one example.
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Here we have a team, I m one of the owners, and we have a season that s been canceled.
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So imagine you have all the same overhead, huge, incredibly successful team, mass number of employees, right?
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You built the whole new stadium, and now you have no ticket sales.
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We were selling out every night, 22,000 people.
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No ticket sales, no TV revenues, no sponsors, right?
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And all the overhead.
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So I know many of you are dealing with that same thing or in Fiji, you know, number one resort in the country been sold out forever.
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No plane flights are going though, even though there s been no cases of death in Fiji.
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The rest of the world s freaked out.
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So it s stopped.
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I got 200 employees there.
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So I want you to know I m not talking at you like somebody like trying to pump you up.
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I get it.
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But what you and I have to do is really be creative.
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We ve got to think things in a new way.
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And right now, while you can t be at work, perhaps with your employees, now s the time for you to figure out what to do and how to adapt because we don t know what s going to happen.
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And what I want to focus on is I m going to give you these six quick items.
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And I m going to take two minutes and just show a couple of examples of people that are already adapting and growing their businesses in the middle of time when a lot of their competitors are shrinking.
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So I want to give you just a quick little checklist.
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Six simple things that I m doing as my way of how to work with all the companies I work with to say, how do we deal with this issue?
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The first one is you ve got to realize that Humpty Dumpty is not going to be put back together again, at least not the same way.
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There s a lot of people that are super optimistic that we re going to go back to work and everyone s going to just go back to the way they were.
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You know, if you re in the movie business and people have been out of the habit of going to movies, not people that go once in a while, but that business is based on movie goers, people that go two, three, four times a month, every Friday or twice a month, that s their business.
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Well, they ve been home watching Netflix during this time, and they ve been home away from that habit.
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And now there s friction.
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If I go out, are they going to put a thermostat on me?
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Are they going to?
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Some of the people in the movies are talking about putting people initially six feet apart.
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Who s going to go to a movie with their date sitting six feet apart?
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So you have to think differently and say, OK, how will the world change?
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And how do we adapt to that?
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What are the things that we can do right now to prepare for it before we go back to work?
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uh so that we re ready for that but you can t do that if you re just going to be you know overly optimistic.
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You also want to be overly pessimistic.
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What you want to do is step two is you ve got to know your numbers.
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Right now more than ever most entrepreneurs have a cursory understanding of their numbers.
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They ll say to their accountant and most people are counting not a CFO because CFOs are expensive, chief financial officer and they ll say how am I doing you re doing great you re up 10 on profit 20 on profit.
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Some of you ve been in business long enough to come the end of year and go
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I m 20% profit, where s the cash?
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And cash and profit are not the same thing.
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Profit is an accounting principle.
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It s a concept.
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Cash flow is what your business lives on.
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So you ve got to know your numbers, and you ve got to call it tight.
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Meaning, just like you don t want to over-exaggerate, it s going to be perfectly the same, and you don t want to make it the world s over, because then you won t do anything.
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You ll just give up.
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You ll be out of business.
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Similarly in your numbers, you don t want to pretend it s the same, overly optimistic.
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You don t want to be pessimistic that you can t do the job.
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But you have to figure out where the holes are, where the expense are, where you re going to have to cut to survive and therefore then get to thrive again.
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And these are tough decisions, which is the third step.
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And all my companies, I m teaching all my executives, you ve got to make good tough decisions now because they ll be much harder to do later on.
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You got to kill the monster while it s little.
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Handle the challenge while it s really there.
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And as leaders, all of us are paid to make the tough decisions.
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An easy decision anyone can make because the answer is obvious.
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You re not going to be wrong.
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But when it comes to tough decisions, that s when most people look to someone else to tell them what to do.
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And that s, by the way, the few people on here, obviously, there s all kinds of people in this environment giving different pieces of feedback as we ve been talking.
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But the ones that are like, oh, my God, you re not listening to these people.
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Well, you ve got to think critically.
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You ve got to listen to them and ask questions.
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You ve got to compare the facts.
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Same thing s true in your own business.
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You ve got to make the tough decision.
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What s got to be cut?
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What s got to be changed?
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Where are you going to go?
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What can you do to adapt?
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Those things need to happen early on now, not three weeks from now, six weeks from now.
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Whatever it is, we end up getting back to work eight weeks from now, whatever it s going to be.
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Fourth, get help.
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Listen, I have a lot of skill in this area, I m sure you do too, but I m constantly reaching out to leaders who ve been through this.
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I ve been around long enough to remember 18% inflation back in 1978-79.
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I was a young kid trying to buy my first piece of real estate, a little triplex, it was 18%.
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So, how do you manage that?
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You know, you talk to people that went through the 1987 crash, it was shorter, the 1991-2001 when we went through the tech bubble and the 9-11, 2008.
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It s really good to talk to people that have succeeded through tough times because they give you a different perspective.
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And I ll be interviewing those and I ll be sending out some podcasts related to some of their messaging for you coming forward.
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But you want to get help.
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You want to brainstorm solutions and maybe do what we call tests of skunkworks.
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Skunkworks is, you might say, okay, for example, in one of our businesses that some of you are related to, let s say the seminar business, we had 12,000 people in San Jose, and we had about 2,000 people were afraid, and we gave them their money back, and we had still another 10,000 want to go forward.
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but the governor wouldn t let us go forward.
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You know, they made it clear, we re not gonna do this.
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Large groups are not gonna matter.
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So we had to reschedule the event, you know, for the summer, which we ve done.
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But in the meantime, like most of our business, we decided to do some tests.
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So we filmed the entire Unleash the Power Within event to give you an idea in virtual reality.
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And we tested it with a group of about 50 people watching in a small room so they could be separated out and so forth and got extraordinary results.
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Do we wanna go do that as our way of delivering?
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Heck no.
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But are we ready to?
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The answer is yes.
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So now s the time to test some things.
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Some of you know our business mastery program in 2008.
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We developed that to help businesses.
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And it became just, it was a test.
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We had no idea it would get as big as it is.
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Now it s one of the most powerful ways that we are able to touch people.
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And then finally, you need to get yourself in a beautiful state.
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And anybody s telling anybody anything other than the religion they ve been taught or that things could get better.
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You gotta look at your own psychology.
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You can t lead from that place.
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You can only lead other people into a place of more fear.
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But if you can get your own head together in a strong way and get yourself in a beautiful state, beautiful state doesn t mean it s like everything s perfect and easy.
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It s just finding the good in it.
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And I m hoping that while you re home with your family, you re finding a way to deepen some of those relationships, even though the environment might be stressful.
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Learning how to catch yourself as a leader, learning how to take care of your health.
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Like I am training the hardest I ve ever trained in my life because I ve never had this many days off.
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And my six months starting in July, God willing, will be what I normally do in a year.
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So I m taking care of my body because my body and my mind are tied together and they are for you too.
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So, and looking for people to serve that are worse off than you are will put your challenge in perspective, right?
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And it s a chance to kind of change old habits.
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This is the time to obsessively find a way to add more value to your clientele.
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To see how can I do more for clients than I ve ever done before?
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What can I do for my clients at this time?
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I can remember in 2008, one of my friends owned a casino there in Las Vegas, and Las Vegas was shutting down.
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He came to Business Mastery, a very bright businessman.
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And it was the middle of 2008.
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I was saying, now s the time.
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If you over-deliver for your clients now, you ll own them when winter ends.
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Winter isn t forever, no matter how bad it is.
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Some winters are long, some are short, but spring always follows.
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What follows the night is the day.
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This is not forever.
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It will be in some people s heads, and you have to be prepared for that.
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If you re a small business owner and have questions about claiming your share of the government benefits, apply for loans, and keep your employees, and survive and even thrive in this new economy, be sure to check out our latest podcast episode.
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And if you re looking for even more resources, like how to redesign your financial plan, pivot your revenue streams, and manage your ongoing cash,
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Tony has a business owner stimulus kit.
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You can access it at www.rescuesmallbusiness.com.
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That s www.rescuesmallbusiness.com.
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The Tony Robbins Podcast is directed by Tony Robbins and produced by the Tony Robbins team.
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Copyright Robbins Research International.