What's the most foolproof way to make money? What's the most foolproof way to make a hundred thousand dollars a year? working from home or 200,000 or 50,000 depends on how Hard and smart you work. I got a simple answer for you. I'm here down in the Caribbean Sun so I'm gonna be hat. I'll get burned. You get burned down here, boy You don't need your vitamin D supplements down here. So here's the formula s plus i equals m Okay, s plus i equals m that formula right there if you write that down keep that whether you're a teenager in your 20s 30s 40s 50s This is the simplest way to start making six to seven figure income worker from home By the way, this works everywhere in the world this s plus i equals m formula So let's reverse engineer the formula m stands for money the goal What you need to survive? What I used to call one still call fuel units the fuel of of the modern economy. Nobody builds their own You know grows their own food Weaves their own clothes and builds their own house anymore, right? You need money as a form of a medium of exchange with other people who build your house grow your food and Make your clothes food shelter water Maslow's hierarchy of need So s plus i equals m. You're trying to equal money. So what's the formula on the left side of the equation I? equals internet So do you have internet? Don't matter where you live, but you need internet. You can't do this By telegram by by letter by postal mail this formula will not work So the good news is internet. I mean Elon Musk is putting his internet Everywhere in the world You pretty much have it. I have people working. I buy companies for a living now, you know I own a big holding company. I own pure one in Radio Shacken.  I was talking to one of my team He's in Nigeria. I've got people in Serbia, Bolivia. I've got people in Australia Every continent Sweden, you know, Northern. I've got Southern. I've got Africa. I've got Asia office in Pakistan So the one prequisite to making money with this simple formula from home is you got to have good east decent internet Connection not like dial-up speed. So one thing you may have to do is go work from a Starbucks sometime now the S S plus I equals M. The S is the magic The S stands for service So it's basically a couple of business models a couple ways humans have made money in History, okay, so think about it. How do people make have to like Michael Scott in the office? Remember that episode where he goes to speak to the Ryan's MBA program He's like there's seven types of businesses in the world hotels railroads Tourism and anyway if you ever seen that episode kind of funny, but when you really look at that business models one of my Millionaire mentors when I'll start now. I had five Mentors who are multimillionaires that really taught me everything. They got me started and one of them used to say look Those are two main types of businesses. This is one way to catarise business. There's Commodity versus brand commodity is like your mind.  You own a coal mining outfit. You are oil and gas business Commodities are things that are undifferentiated.  That's the difference between It's it's in crypto commodity versus brand, you know commodity would be tokens and Brand would be NFTs non-fungible. So there that means they're differentiated But that's not what I'm actually talking about today There's another way to break down business besides commodity versus brand a wide categorization of business the other wide categorization of business is Service versus product Now I'm not gonna we can split hairs and talk semantically on this Just hear me out what I mean if you're watching this and you want to know how to make money look You can launch a product based business and most people think of that like oh, what's a good thing? I can sell I come up with a little gadget, you know Steve Jobs came up with Apple products, right? Came up with a computer a home computer the Macintosh That's how he was product-based person and he became you know one of the most famous entrepreneurs Elon Musk was product base, right? So he had PayPal Was a specific Kind of automated thing you could send money through an automated product called PayPal and then he has obviously Tesla Which is a product of physical car, you know SpaceX, which is a physical reusable rocket ship So those are product-based businesses because the media is kind of brainwash people Into going oh if you want to make money from home as an entrepreneur You need to be product-based most people go down that route and unfortunately Why I want to record this video people forget Service-based business Um are easier take less capital fail less often Um and are a huge part of wealth creation now I will give you a little disclaimer more wealth is created through products and services, but more Capital is needed more experience more risk must be taken and the lease and less Realistic for the average person the average prep you're watching this and you're not you know Born with wealthy parents or you're not in Silicon Valley where you had connections or you didn't go to Harvard Um, I would recommend the s Plus I equals m formula start with a service-based business. So what do I mean? Okay, well instead of saying what's a cool product? I could invent get a patent on and sell what's cool technology I could launch say What can I do with my sweat equity my time? How can I sell my time? to somebody for one dollar an hour one thousand dollars an hour now lawyers and Doctors are in the service business So when I say sell my time, it's not anything weird like All basically all lawyers 99% of them and all doctors you walk in there. They're essentially selling their time Now another disclaimer. There's downsides to service businesses. Some people you'll see Advice from people. I'll never sell your time for money. Well, it depends what stage you are an entrepreneurship Like now, you know, I don't do as much selling my time for money I don't any I used to follow the s plus I equals m formula But now I do bigger stuff, but that's just because I built up to it. You got to build up this stuff This world is tick-tock world Instagram real everything people think it's instant The average person takes 12 to 20 years to build society I'm gonna tell you this to build a million multi-million dollar empire Most people take 12 to 20 years and people say, oh, you don't know if you just trade crypto and NFTs Look at all these millionaires. Oh, just wait a few years. Ladies and gentlemen Money that comes fast leaves real fast an Amish guy told me a fence that's built fast Offense that's built quickly falls down quickly in a fence that you build slow stays up for Generations so there's a lot of wealth a lot of BS wealth being built right now Don't worry.  I don't need to listen to what you're saying I don't need to build a service business. Do you know who I am Ty? A little narcissistic generation we're all from right The I can do anything if I put my mind to it mentality. No, you can't no I can't either You can't be a pro basketball seven-foot center by putting your mind to it There's bounded rationality and bounded Biology in this world So if you go, I don't need to start with a service business and sell my time.  I saw a self-help video said I could be anything I want to be if I put my mind to it Well, not really you could be a lot most people can be more than they think they can be that's true But you can't be everything anything so What's a practical application of this service-based business? Let's say you're willing to listen well 2016 I started this I said hey You want to know the best way to make $1,000 to $10,000 a month get businesses to pay you to run their Facebook ads and their social media for 40,000 people went through my training program Insane results every single time I travel. I was just on a seven-day Seven-city business trip everywhere. I was in Miami people came up to me time a millionaire now I got in that agency service-based social media marketing agency course that still works today That was 2016. It's still working right now Now there's variations of permutations on this now meaning social media marketing agency still valid Service business where you sell your time you go in and you say it's $2,500 a month. Mr. Restaurant owner Mr. Cosmetic Surgeon owner, you know, and I'll run your Facebook ads and YouTube and I'll do lead generation for you and all that But there's some permutations on that now, which is a good thing It's better now because now you can add an e-commerce for example So you could do a damn e-com business, right? so By the way, I'll put a little link if you want to see I have a Paid mentorship program by the way, I didn't shoot this video to sell anything But people sometimes watch my videos. I'm like, oh, I want to know more. So Without much ado, I'll just put a link here or in the corner and go watch this If you want me to train you how to do how to teach people how to make money as a e-commerce Service consultant where there's a million stores on Shopify big commerce WordPress right now and most of them are having a hard time doing their e-commerce because they're product focused So they had a good product idea, but they don't know how to run the actual Shopify or WordPress They don't have to run their Facebook ads landing pages. They don't know how to do site merch all this stuff So I've got a little four month course. Click the link. It's a little paid mentorship. Anyway Not trying to sell much here. By the way, I never apologize for trying to sell don't ever apologize for Making money. So it makes the world go around. That's how economies work In fact, when the world goes to crap is when money stops flowing from person to person from business to business When you make money you recirculate into the economy. You're actually a net positive for planet Earth So when people say oh don't sell stuff What and don't be a net positive Just because money flows into my pocket or your pocket you Reese you even if you put it in the bank or you put it into crypto It's getting recirculated Right if you're in crypto, they're staking. There's you know Lending There's a recirculation of money if you put it in a bank the bank lends it out now It doesn't quite work like that anymore with the Federal Reserve, but basically it's somewhat like that your exact dollar main Not but it's a digital entry in a ledger, you know, whether it's crypto ledger or a fiat ledger But let me not digress So let's go back to how to do this So you want to the best way make 100 grand 200 grand a million 50 grand from anywhere in the world that you have an internet You start a service business now you don't have to do a social media or e-com Service business you could also do. Well, it's another business.  They're highlighted on the homepage the freelancers occupations or Categories that get hired the most go in there and see if you already have some of those skills like it might be personal assistant You know, but the cool thing with the internet. That's why I said it's not just the service equals money formula It's not s equals m. It's s plus I with the internet you could be in Bali you could be in, you know Nigeria you could be in Bhutan and You could be a personal assistant to five different people, you know, you can disclose it don't lie to people You could be a service Provider on Upwork or Fiverr. Let's just say something simple. You might say time. I don't have much skills I don't know social media. I don't know e-com.  You have organizational skills You have people skills you have execution getting things done skills, you know So you could have five clients on Upwork that you're their personal assistant They text you when they need you that you know when you need to manage five different clients Just say I'm a fractional personal assistant. You charge each of them In fact, a lot of them are happy that you're not their only customer because then you can charge them less money You say look you can hire a full-time personal assistant for seven grand a month or you can pay me two thousand I'll pretty much get it all done You get five clients paying you let's say I would recommend from between 2,500 and 10,000 a month depending on how much you're doing for them You could eventually build a team the team helps you so you could almost be full time You could outsource you could take in the work and then have some other Your own personal assistants that are helping you be the personal assistant So you get you know, let's say you average three thousand dollars a month Five clients only that you can find on sites like Upwork Fiver Or you can reach out dm people on instagram that you know and say hey And once you start getting one or two clients you get them to give you a testimony say tell here's a little ninja trick Say if you give me a testimonial, I've worked for you for three months. I'll drop my price by 10% I'm charging you now on your little personal website or when you dm people you're like, here's the testimonials of six of my customers That are super excited about me And now you get more customers you end up with 10 customers paying you free grand a month 30,000 a month You have your own personal assistants that you found maybe on Upwork one or two You're paying them three grand a month So your inflow is 30,000 us dollars a month and your outflow is six grand You know you put in 24,000 dollars a proc now Some people are going to do less than that depends on how ambitious you are. It's always a little luck But I mean this is doable. There's people right now making you know Two to 20,000 dollars a month just as a personal assistant. There's other things copywriting You can become a copywriter meaning you help people write their ads or you help them If they've got an e-commerce website every product they put up you got to write those little descriptions like amazon You can do that for them You can be a vendor source or you can help people find products for now. I'm going back more to e-com But you see where I'm going with this You can do all you can be a char. You can just say I'll recruit You need more people for your company.  Maybe they need secretaries. Maybe they need You know computer programmer devs. Maybe they need graphic designers. Maybe they need copywriters Maybe they need site merge people. Maybe they need e-com Maybe they need a personal assistant and you could say I'm two thousand dollars a month while I'm working for you Plus a bonus of you know 5% of the income of every person I bring to you.  I just saw there's a website. It's a multi billion dollar company All they do is empower global recruiting because now there's a global market. So See how this service thing I could talk I got to go but There's a thousand ways The average ordinary person without genius iq without genius connections with just an internet and a willingness to go out and try At any age in any location male female Whether you you know people or Whether you have high self-esteem low self-esteem Whether you think you look good or don't look good whatever your issue is in the mind There's opportunity right now and the thing I like about service business They're sometimes they're more recession proof if the world ever goes crazy They're a little now suit. Yes, you'll lose some customers, but product-based businesses can be much more fickle and variable Because people have discretionary income and people usually now you there are layoffs I mean, it's a complex conversation. Let me not even go down there But by the way, if you want me to show you how to do this on the e-comm side of things and get customers I'll put this link one more time below go check out this four month mentorship training program that I have And I do a lot with e-comm. I've got 160 million visits to my e-comm Websites just just my physical e-comm websites last year So I can share a lot of Things from the trenches with you. You're not going to learn in any college course or even online courses So I've been doing this a while I'll show you social media stuff Got eight nine million social media followers If you're a realtor you should get in this and by the way this course even though it's around e-comm You can apply what you're going to learn. So click the link My rant is over. I'm hungry. I've been doing intermittent fasting. So Been like five hours since I woke up and I'm hungry. So Leave a comment by below. What did I what's another what's three other service based business ideas that I forgot s Plus i equals money So talk soon


We get bored in the salon because we're never trying anything new If you stay educated it gets you excited it gets you wanting to try something new You try that new thing on your guests, then all of a sudden you have a higher average ticket What's up guys welcome to the podcast the Matt Beck podcast I got a special guest today my pal Jason Everett is here So excited to talk to him I never get that stupid intro music synced up, right? Whatever this is how I woke up I guess so excited to talk to Jason We got a ton of really cool topics to talk about before I do that Thank you to Minerva beauty comm for being the sponsor of this podcast. They have a fly-in program So everyone should have the opportunity to experience Minerva beauty equipment in person That's why they designed the Minerva beauty fly-in program They reimbursed your airfare up to $350 when you purchase $5,000 or more of equipment and also a car service We'll pick you up from the airport and bring you to Minerva You got to check out there if you're in if you're seriously in the bit in the market for new furniture Which I personally think you should upgrade your salon every couple of few years because Things go stale styles change. We're in the fashion kind of up-forward thinking business So I think you should always be looking at that Minerva has affordable prices And you can see everything for yourself buy it there and it gets shipped quickly and right away So go to Minerva beauty comm backslash FSE For details on all that and to get a nice discount on your purchase as well. So Got Jason Everett on the show today I love having guests first off and I love having this guy as a guest because we get to talk business We get to talk You know, I just love having people on here that are smarter than me for sure when it comes to just different things with marketing and Then I learned things. So Jason. Thanks for being on here. Thanks for upgrading your camera equipment That's the other thing I said to Christina this morning Yeah, so I said, um, you know, I'm doing the podcast with Jason today She goes again and I'm like, well, yeah, because I first off Jason's easy because I know that you got like the tech thing And like we just log on and talk and it's it's simple. So, uh, you know, like I said This is the once a month Jason a match show kind of here. So I like it I like I'm excited to hear what you're up to. Um, those of you guys that don't know who Jason is He owns a company called high-performance salon It's an academy. It's a it's a lot of things right you do your business coaching Yeah, so training for it's training for salon owners commission salons and helping people, you know, really like actually turn their salon into a Business that's that's our jam. Yeah, so and it's cool because if any of you guys have questions And I know you guys are logging on I can see all the chats on all the different social media Platforms if you guys have questions about anything salon related from a business standpoint Jason's your guy and It's free of charge today. So So take advantage of that Right in the comments as much as you can because uh, he definitely knows his way around Especially commissioned salon. So I know that's your kind of your big focus In those are the songs that you work with and and you I just saw that you were maybe launching a podcast Is this true or were you just asking? Yeah, dude. No, no for real like legit We we actually have already filmed and recorded about I think it's like 10 episodes or something like that So do you have you on my reverse matt best matt beck inception podcast, you know, you'll be on my podcast as podcast But dude, yeah, we have a new podcast coming out. It's called the salon owner evolution revolution It's about all the latest in technology that keeps you up to date with what to do inside your salon everything from You know, there's some really cool things that we're interviewing people on on like new tech tools to have People, you know, find the perfect stylist inside your salon There's some new cool things out there with tech where people are like interacting with digital mirrors And we're bringing in all the latest coolest new stuff Is gonna be on that podcast about how to keep up with the changes inside the salon industry from a business standpoint Right on that's cool. And uh, and you were doing I mean you would first Is it april first? Okay, and you were doing a pop first no joke That actually uh, that's hilarious and yeah, that was good. Um, so It's cool that you're gonna do a consistent thing and it's kind of got its own brand now You were doing um, because it was on your podcast before Well, we were doing a show called lessons with legends and it was on we had it on youtube and on facebook We just never had an official like go on to itunes or spotify and find our podcast We had it amplified everywhere except for through podcast So yeah, you've been on it. We've done tons of video digital shows that were similar to that But now it's officially as a audio audio well Sweet. Yeah. Well and video and everything else. But yes, totally So, um, so the first thing we're gonna jump right into uh, obviously answering questions That's what we do on this podcast and uh, trying to give the people watching as much as we can So, uh, the first thing that we're gonna talk about is this good old You know and I pulled up this video. This was kind of a A meme that's that's been going around or a jiff or gif or whatever But it's literally a guy You know using sticks with a comb on one end and a clipper on the other and i'm sure a lot of you guys out there have seen this um going around but It's the reality and I know it's a reality because I thought about talking about it and then um We had this guy, um drake 828 on instagram said in regards to the current health situation Um, how would you suggest having a client exit the salon if they are visibly sick? So I thought that this was like kind of an interesting topic to to bring up because of the fact that You know, we're in this state of You know the salon industry being a people industry So we're constantly have our hands on people and they're saying the biggest thing to do with this You know virus is to wash your hands You know if you are sick don't go out in public. So You know, I have my thoughts. I know you have your thoughts. Why don't you start? Um, so I don't take up the airwaves and just You know Let us kind of in I mean look First I first of all, I want to say this is not a topic It's the topic right now and I don't think in a good way. It's the topic and what I mean by that is um You know, I've done a lot of research into this because I wanted to be educated on it for just a lot of different reasons And and dude, there's a like full out if you want to go down the like I'm just gonna say this for all my conspiracy theory homies There's like the giant conspiracy theory deep dive that you could go down with this I don't want to do that on today's show But what I do want to talk about is the reality of being around uh people that are sick inside the salon Because you know the reality and the numbers of like what the coronavirus is specifically doing Uh in the states, there's a whole you know, you can you look into the stats on that on your own Like do your own research because all I'll do is piss people off if I start spouting off my opinion on that But what I will say is that the reality of let's just say whether it's a flu Or it's strep throat or it's anything else. What is the salon's policy? And I always talk to like the salon owners, right? So in my mind, I always say Think about it from a salon owner perspective down if you work inside a salon and the there's no policy in place for What do you do when clients are sick? Well, that's going to be a problem because you as a stylist can't enforce your own rules Over your guests if the salon general umbrella policy is different, right?   I don't want you to be like don't don't infect me with whatever you have Right, which by the way, it's probably not going to be coronavirus plug plug any plug But let's just say it's anything else that could be going on right now And the reason why I'm gonna my only stand I'll get on is like Please stop watching the damn news Can I just say that like the news is designed to tell you everything bad that scares you? And so the like when it infiltrates everything like everything of your day to day It just means the news is winning right now because they found a topic that everybody's scared of so they get to talk about it Like let's just start there. Okay. The perfect example of this. Did you watch the guy do the tightrope walk last night? Did you watch that? No, no, totally not. Okay. So where was that at? I got sucked in because this guy Did they talk about the coronavirus as he was going across the thing because that's very possible? No No, well, they didn't which was surprising But the funny thing is like it's just one of those things where um, they Amplify what's about to happen and I'm not saying a tightrope walk over An active volcano is is an easy thing I'm like I'm pumped and I'm like, oh, I want to watch this I set to record, you know, we got home and I'm like I paused it So we are already sitting on the couch like ready to watch this man walk across the volcano could fall in Amazing not right. So it's in danger. He has a safety cord on his back So he tightrope walks, but it's like if I take my kid to the local like Climbing thing and they safety attach me like I understand it's more extreme But they build things up and they're like, you know, they're talking about all these fumes that he can breathe in and all this stuff and I'm like, well, so It's just like that's what they do.  Yeah, yeah So this morning we go to walmart and pick up a couple things before we come into work And as we're walking out, she goes I have she's like wiping her hands and she goes Do you want to wipe your hands and I'm like, yeah, please I'll take And like it's not because I think I'm gonna get like I'm sure it's a possibility or whatever and I and I've started to read about the coronavirus and like it's not You know, it's not the killer that everyone is, you know making it out to be but like It's not I don't want to be the guy with it either So like I don't want to like have to sit in my house. So like now I'm like, okay, but What is your thought like when somebody's visually sick? Because that's where Like just in general because I don't think we should change things just because of the coronavirus like I think what you're saying is like In a salon, you should have a policy um And I would say what Go ahead. No, go ahead jump in. I was just gonna say like the whole the whole thing is Is what is your general policy for people being sick because yes I mean, is it possible that you could you could get sick from somebody having the flu Or a strep throat or measles or whatever whatever other thing is possibly going on From anything else that could exist on planet earth at any given time What is your salon's policy for people that are sick? And for example, what you may do as a course of like I just don't like to change things for like what the news says I like to change things for like what should our policy be and in general I think a salon's policy should be at the beginning of the cold and flu season message people and say look I know you love getting your hair done and that missing an appointment would be a huge problem For your schedule and for your life. However We do ask inside our salon that if you are showing signs of being visibly sick Like to where you wouldn't go to work or you wouldn't actually go and interact with other people That you understand that we work so closely with you that we will do everything in our power to reschedule you at a time When you're feeling better Like that's a great thing to do at the beginning of cold and flu season If you want to take the extra step and put a sign up at the front desk that just said You know, we understand it's cold and flu season And so if you visibly feel sick or need to you know, if you're blowing your nose on a regular basis We'd like to ask for you to reschedule your appointment will work with you to do so Like I don't think that's weird and I think by the way I think it's very healthy for you to have things like hand sanitizer inside the salon in general Maybe even at your work station so that as you're working with the guest if you're feeling a little weird You can at least take care of it But it shouldn't be because some you know, and I I think take this news piece As just a way to update your cold and flu policy Yeah, that's good.  We got 115 uh commission salon owners flying into Nashville to do one of our huge hoop laws, you know and like Well, I say huge hoop laws. It's a big deal intimate group, right? Yeah, and so what the reason why we do that is that um, We're getting together. We're hanging out But here's what happens like there was a tornado like a real story There was a tornado in Nashville this week and it was a real tornado that like wrecked buildings and like And and literally there were people who passed away in this tornado, which is it's just not a good thing But here's what can happen.  Because there was tornadoes in Nashville and I'm like I mean look there's stuff that happens all over the world every single day Like there was probably car accidents on the way to work where somebody died not not discounting by the way that somebody died But like there's car accidents every day where somebody dies There are people getting sick that then pass away like I have family members who are who are really sick that could be Very affected by anything, you know, I my dad who's on uh dialysis by the way shout out to my my amazing dad But like he's on dialysis.   You know for being able to sell retail sales to be able to serve them You're like, how quickly do I get out of here and do I sanitize my My equipment the second they leave like you went to beauty school and you learned proper precautions for how to handle the equipment and gear Tighten up that precaution Pay attention to it and put out make sure your salon has a policy On people that are sick and they send it out and if you really want to go out of control above and beyond like Dude, I go to a church around here that um In sacramento and they they actually I thought like they they uh dealt with this very elegantly this weekend They said listen We know the stuff is in the news We usually have you like turn and shake hands with people and say hey We're probably gonna lose that for a couple of weeks and here's what we're also doing We're putting a hand sign at tether out front We're white. We're wiping down the place extra probably because we should anyway and we want to let you know Don't freak out But just be aware we're taking extra precautions and we would love for you to too But don't don't let the news be the thing and i'm like I feel the same way Dude, do you want to throw some extra hand sanitizer on bro knock yourself out throws some extra hand sanitizer If it makes you feel good, you're probably not going to get the corona virus I please feel free to run this video in the event that you do get it and I will eat my words But I I don't wish that on anyone and what I would just say is you're probably not going to get it But don't let that be a panic and by the way Don't let that be your discussion with your guests in the chair instead of about why they came in What they're there for how you can make them feel amazing and how you get your job as a stylist is to reduce their stress Yes from things like watching the news Not let their stress eke into the salon for sure So or did I sew box okay on that? Just be like this guy And you can do it this way that that is the other and matt I don't know why you would let your employees use those kind of sticks I thought you would have had them use something fancier or at least some black duct tape on those clippers bro I I thought for sure no straight up I will say though That I like if you look at that that is the most staged thing and I say that because The dude's wearing like the like super cool mask and like it's clearly for meme purposes only like oh, it's totally for meme Yeah, it's entertaining but but but here's the problem people don't understand that right they just think like They like this guy's like really that photo and have thing take over Like you know, that's that's the entertaining thing and then it sweeps through because people get silly about About, you know, all these things. So anyway, that's why I love that's helpful for you It's selling clippers in the back Look like he's probably is yeah, he's retailing new new uh zero percent Viral clippers. Yeah, exactly. All right. So um, so that's where that help. Does that feel good? I think so a couple people so we have some questions coming up um One thing I think that you'd probably be good at answering Is and we we did talk about this last time actually, how do you handle sick employees? Making up guests. So that's one aspect. So if you reverse it, um, and then What is a good policy for sick service providers when yeah when rescheduling is super hard? So A couple different people mary and have Yeah, and again, I think it goes back to like what's what's the policy bro Like I mean, I think that's part of it is like, you know, my kids when they go to school There's a policy about when they should stay home Like I mean, it's literally like if they've had a fever within 24 hours if they have uh, like I know so it's gross But like if they have, you know colored mucus You know or they've thrown up within 24 hours like but that's the real deal is like what's your policy So is it like you couldn't have had a fever within 24 hours or 48 hours? You know if you have visible mucus if you're whatever like those should be reasons for your staff to stay home And I would also echo the same sentiment is that again your policy for your staff should be your policy with your guests, right? Like here's our staff sick policy, which we apply for you. We want to keep everybody healthy this cold and flu season So here's our policy and we'll do our best to get people rescheduled as much as possible Now here's what I would say because I would handle this whole like Getting guests rescheduled on people's policy in a way that will probably piss some people off on this call Or on this video call slash podcast slash everything but like here's what I would say I encourage in the salons that I work in which would by the way if you're independent stylist This may not apply to you so so I said it's going to be a little different But what I would say is if you work in a in a salon with multiple people This is an amazing opportunity for them to have an experience with another stylist Right. It's an amazing opportunity. Now you might go Oh, but if that other stylist works with them and they cut their hair better than I do Then they're going to go and leave and go to that other person That's your own trash, man.  That's the wrong idea That we have a salon in our high-performance salon academy shout out to uh, oh go ahead, man Oh, no. Wow. We have a major delay. Um, so That's just like a good.  Why would that guest want to go somewhere if there's a a client that's constantly, um Like canceling Last minute and they're cancel like they're constantly canceling on you. The reason is because That's not an exciting thing for them. So we we have to figure out. We have to readjust the conversation just like you're saying to Stylist need to be less insecure and start really focusing on what is important Which is the guest experience and not worrying about anything else Like if you don't worry about anything else, you just focus on that person You will never lose that person Look at this guy. Totally. By the way, my my camera freaked out. I'm coming back. I promise. I promise Wait, you just had four heads, bro. Back to tech. I know it happens. I'm back. It was it was that's called a pattern interrupt By the way, it's a pattern interrupt. Um, nice. So dude I 100% agree with you 100% agree with you and what I would just say is you look at all these things Is like is are you focused on the guest or focus on yourself? and you know props out to uh My girl Lindsay Haney over at the style lounge in austin minnesota for this by the way, this is 100% her idea She has a card that they have inside their salon called the get around card Okay, and we brainstormed this and came up with it and helped her out with it And I don't know if I mentioned this on a show before matt but basically what they do is they encourage And she has a salon. I don't know how many people she's up to now Maybe seven ten people. It's not a huge salon but uh, but still strong size right and she um, she said we look I want you to meet other stylists inside of our salon because in the event that your stylist is sick Or has any issues or you can't get on their books There should be a couple other people inside our salon that could also serve you really really well And we encourage our guests to meet with other clients now that could go from like, you know So and so is really good at color versus cutting versus this technique versus that technique versus blowout But it also especially if you have a spa for crying out loud The more your clients and customers can interact with multiple points inside the salon The more they become a guest of the salon rather than a guest of one single stylist And I think sometimes to your point stylists get so insecure that they have this like we used to call it Stranglehold accounts when I used to work in radio advertising It was basically like your person that you were so afraid if you lost them You would freak out because it would cost you so much money and whatever is that you held on to them So tightly you would choke them. Yeah, right? That's it. You don't want to have stranglehold accounts You don't want to have people that you're like I'm going to hold on to you for dear life for fear that you would leave me Like who wants to be in that relationship? Like if that was me and my wife charity, you'd be the same thing Like I can't I can't strangle her to make sure she never leaves me Like I'm pretty sure she's going to go out tomorrow and see other guys walking down the street This is a weird direction for me to go But I'm just saying let's say that she you know like in a spouse relationship You just want to be such a great spouse that your spouse would never want to leave you same thing How do you become better as a stylist? So that you're secure enough that if they did go to somebody else you'd be cool with that because it's just a temporary haircut Like that that's you know, I guess anyway, that was a weird analogy, but you get my point Yeah, I totally get your point and that's the thing too. Like when you look at uh, the one Uh question was how do you get to read book them? So let's say they don't go to somebody else, but you're 80 percent She's saying you're 80 percent booked. Well, if you're 80 percent booked, you're not fully booked. So Automatically you have space. Yeah, you know 20 of your time is not busy So let's say let's say your free time is during the day when they can't come in blah, blah, blah How do you do it? Yeah, do you know what? I want to I want to spin this to another question because it was the next Wait, did I see this question or I don't know did we have a question about raising prices too? Wasn't that a question you wanted to bring? We did. Yeah, let me see if I can pull that Yeah, so let me parlay to that parlay. Let me transfer what I'm saying to this question Um, if you're 80 percent booked guess what it's time to do Yeah, here raise your prices Yeah Raise your prices. That's what it's time to do. So by the way, if you're fully booked if your book's solid If you've got all that stuff going on by the way, it's called capacity utilization If you're 80 of your capacity and your book's solid and nobody can get on your schedule, especially when they reschedule What that's a symptom of is that you're under charging for what your value is Right, okay. Exactly. So what that means is is that you're you're under charging, which is good By the way, you got to start somewhere and then continue to grow that and build that up So by the way, 80 percent that's actually your trigger point to raise your prices Enough there's not enough people out there that underpriced themselves I think more people need to underpriced themselves They do The biggest question I get every single day the biggest question is how do I build a book? The reason you're not building a book is because you're charging too much You know what I mean? Like it's a good point.  Well, that means you're running the wrong type of business at that point So you should underpriced Underpriced till you can't take it anymore for the first five years You should undercharge I think because if you're seven years in the business and you're still not busy Then you charge too much. You're not worth it And that's just the way it is. Yeah, I I would I would echo that and also say you also need to learn how to be a great marketer And I mean that from a standpoint of you know, the people who are fully booked are not necessarily The greatest cutters and colorists on planet earth. They're the people who know how to market themselves well And so I mean I agree with you in the sense of like I'm a big fan by the way Like when I started out even in coaching by the way, if you coached with me 12 years ago When I started you paid about a tenth of what it cost to work with me today Do I know more than I did 12 years ago? Of course I do But my point is is you would have gotten a really good deal If you were to work with me if you were my first couple of clients versus now When we work with thousands of clients all over the world that I'm jumping on planes and going and doing stuff And all types of countries and all these other things like of course I'm charging way way more for my advice because it's way more valuable But you know why? Dude, that's because I can't my calendar is so full every time my calendar is full It's just a trigger for me to say raise my prices Right.  Maybe you're right Maybe you need to lower your prices to kind of meet the market that you're in or and by the way Two things you can do lower your prices or get better at marketing Those are really the only two things in my opinion just add the second You could get better at is you need to get better at marketing or you need to lower your prices and see which fixes the problem I personally being a marketer would say you need to learn to market your face off But yes, there could be a reset in there And then I would also say is as you get that 80 percent then that's a good trigger change You're good at marketing though. So like that's that's the thing and a lot of people So most hairdressers that are talented hairdressers are Not busy because they're not good at marketing But they're just not good at marketing right most of the really talented hairdressers If end up in education or they end up doing something else because they're not that busy behind the chair They can't figure that part out And then the people that are really good at marketing and not great at hair They're really busy behind the chair because they're a great time people love being around them So there has to be the happy medium for me is where I lower prices because then You get more people taking the chance coming in and talking about you as a value And then start raising them as your reputation grows and you become this stylist with the name all over town Now you don't have to market as hard and and now all of a sudden you you know, you have that because like I was I liked studying hair and I also liked the marketing side of it, but I'm definitely better at um You know, actually, I don't know which one I'm better at sometimes. I'm like, I don't know which one I'm not that I'm not the greatest marketer, but I'm not the greatest hairdresser either So, you know, there's I think you have to find that happy medium But I totally agree with what you're saying 100. I think the marketing has to be there, but you know That's what I don't know. It's both. It's both, bro. And it's all good I'll say one other thing about that too is the other the other thing if you're really worried about, um, You know discounting yourself because I'm a big fan by the way I don't like discounts as much as I like valuing up And what I mean by that is don't discount down value up if you're worried about lowering your prices to fill your book Well, what if you just add some value added services meaning like, hey, you know If you come in and get a cut in color, then we're going to do this free service or this free upgrade Or whatever that is in addition to you can also add this service on so there's lots of ways to kind of like I think the real question is how do you give enough value? to your Guests that sits in your chair right is like what that really is is it's the market giving you feedback to say The value that you're giving your guest is not as high as it needs to be that can be done through discounting That can be done through upgrading or it can be done through positioning yourself as a as a better resource to get More people through the door of your salon.  These are all these are all real real things Yep, for sure. All right Um another another question here. Yeah, what else is going on by the way keep your questions flowing people I love when matt gets on this roll of like asking fun questions and getting the stuff going So please comment in the comment section. I'd love to see more from you guys Yeah, and also make sure that you're sharing this because I like seeing the numbers going up Uh as people I shared it you did I I don't know I can't two more shares for you. Mr. Beck two more shares. I got you out of this deal matt Hey, thanks. I appreciate every two shares counts. All right here Uh Oh man, sometimes the words all blend together. I'm just gonna say this guy. This is this is the best question This uh, yeah, so I'm wondering to shop beauty bar. Good job I'm I'm wondering yeah in all the tips I hear about building a business slash clientele all the books and videos Uh from jason everett, uh, how come nobody says get involved in your community. I only hear about social media marketing. So Oh I know that one dude. Yeah, this one comes up all the time. I actually had I was on the line with somebody just the other day I was I had to salon. It was uh four four women that were on the line with me And they were asking me questions and one guy was like jason, I know you teach so much on social media I love it. I'm excited and I want to work with you because we have this like social media crash course We do and we're I'm actually I'll I'll I'll seed something that's kind of cool. We're working on we're working on something called Uh a social media play day, which is how do you set up a day inside your salon? By the way killer idea How do you set up a day inside your salon where you like invite your favorite guests and you like do all these things And you might even invite a photographer and videographer down So you capture like a quarter's worth of social media content in one day So you don't have to like constantly ask every guest. Hey, do you want me take take a before and after picture? Like it's just you put yourself in this thing. Anyway, we're working on this cool concept. That's a good day. That's a good one TM dude, it's super good and we're working on we're working on uh, there's a little video for it I've got a download that's coming and we're working on like a whole in salon training thing So anyway, don't steal the idea, but we'll collaborate. Um, what I would say is Is that this this idea and this so anyway, I'm on the call talking to this gal and she's like I love your social media stuff. I'm like, thanks. I appreciate that and then there was this gal in the back And she like she's like, hey, can I ask a question and she goes You know, I hate social media. I think that social media is a bunch of garbage Nobody ever talks about anything besides social media. Jason. This is the one question if you answer it, right? I'll work with you Okay, what what is your question and she goes is there is there any way to promote your business besides social media? And I was like Hell yes Like of course there is like actually that's how like by the way That's what you should be doing like this is kind of like bare minimum is making sure uh that you're promoting yourself in lots of different ways Yeah, so yes, of course, there's a lot of ways the reason why social media is the big one And I'll I'll I'll make this stand and then I'll go back and answer the question But the reason why social media is the big one is because the amount of leverage that you have is massive Meaning you can go on social media And like right now matt and I from our you know respective offices slash salons, right? Like we can be kicking it here and be in front of hundreds or thousands or you know way more people Just by sitting here and social media is a great amplifier However, I want to be clear that I do a lot of grassroots marketing and face to face In fact, matt, that's how you and I met as we were at a event promoting our stuff what we do and that was Where we got connected so there's a lot of reasons for people to be plugged in for face to face So let me give you some some face to face things. Is that cool? Can I do that? Drop some sounds good Yeah, drop some non social media So uh really simple basic thing is what is the signage like in your salon? And what does your building look like matt you mentioned upgrading the interior? We talked about our homies over at minerva by the way shout out to jeff and megan over minerva um You know you should look at updating the interior of the salon 100 percent But when's the last time you updated the exterior of the salon and does it look Inviting and exciting if I could drive by your salon and nobody cares like that's kind of a problem Okay, so that's number one The second thing is do you have any signage outside of your salon? Like I know matt your salon is like a standalone building. You're not like in a strip mall, right? No, I've never been I just happen to see your your videos, right? But like the other question is is if you're in an area that has a lot of foot traffic and other activities and events Like do you have a you know, this is very basic But like a sandwich board sign that it goes out on the street Either on the full road that has some sort of exciting offer that people could take advantage of or even just right in your Same shopping center Is that something that you have in there because a lot of shopping centers Like you could go to a business every day that has a the coffee shop is right there And you have a thousand people going to that coffee shop every single morning your salon is next door But you don't have a sign up that does that so that takes me to point number two Which is are you working out working out deals and arrangements with local businesses to promote what it is that you do? So I I'm a big fan of what are called joint venture partnerships mean You are in a center your job as a salon owner or you can even do this as a stylist, right? Your job should be go out and create alliances with other businesses Inside that shopping center and inside that uh that complex that you're in and see what are some Complementary businesses that are there So I love this one Let's say there's a restaurant that's there inside your complex Well, what I would do is I would go over to that restaurant and say hey We're in the same shopping center. I'd love to do some work with you guys Are you open talk to the manager talk to the owner and just say here's what I'm thinking I'd like to help because it'd be amazing if your staff looked their best every single day in the restaurant Right, you're a nice restaurant. You'd like to have that So here's what we're gonna do We would like to offer every one of your staff members a discount to come over and do some work with us Or a free upgrade or however you want to position it.  Now notice I gave first by the way I gave you a discount.  Receipt when they leave here, would you be open to giving them a Whatever $10 off retail or a, you know, free upgrade to a back massage as a part of a cutting service or whatever The thing is would they be open to Getting free gel upgrades on their nails could be any of those things in every single, uh, you know Ticket that leaves here. Would you be open to that? If we if we hooked you up, would you hook up us up now? Yeah, that is grassroots marketing in my opinion at its absolute finest and its old school And it freaking works and it's amazing and like that that is one of the best things you can do to like Build alliances in your local city because it costs you zero dollars Maybe go on vista print.com and get some business card little offers that are printed that just You know you slide in there so cool It'll cost you 20 30 bucks to get it done hire a designer on fiverr.com and get somebody to design it or have your Cousin who's good at graphic design do it But like the amount of revenue that you can generate off doing a grassroots thing like that Is massive and that had zero to do with social media That has everything to do with alliances and partnerships and things like that and by the way I've got dozens of more ideas like that. I just want you to know Social media is the buzz everybody wants to know about it because it's the it's the quickest But that doesn't mean it's the best for sure. Yep, and we had so Back when we were on main street We did a sandwich board and it was all about a free hair analysis and we had these hair analysis cards We did it on every client and it was free like you just walk in and there was always there's always that stylist that Maybe they're new maybe they're an assistant or maybe if you're not that busy Whatever it is you're trying to grow your clientele um Free hair analysis they come in it's a consultation But you're just going through their hair talking about all the things that you could do to create benefits for their hair products that they could use Coloring services that'll help glazes whatever it is So you have that and you just keep a card and then you have all of their information when they leave on a card So that's something that you can do. Uh, we we also did a um You were talking about making a business card with a deal on it We had so let's say a guest comes in and we're talking about adding on services We had multiple business cards with different ideas on them So it was if a guest came in and they don't normally get a haircut But you wanted to get them to get a haircut then we had a card that would kind of push them It was an incentive to get a haircut or a Conditioning treatment. So if they never get a conditioning treatment, we say here's a card for next visit Let's book you in i'm going to give you a free Add on conditioning treatment and then that introduces people to new services So there's like there's so many different ways to go about things that have nothing to do with social media Um that mark it to your current clientele, but also to people walking by.  I don't know if anybody else has seen that but like, um One of the things that we've done is we talked about this consultation and you talked about the hair analysis Is we're a big fan of having a top to bottom consultation for hair so much so that we literally created a board game about it And it's one of those things that teaches people how to have a world-class consultation And the idea was is that you want to stand out in the marketplace most people walk into a salon and they go How do you normally get your haircut? Cool, uh, how much do you want off the top that much? Okay, great, uh anything else? And it's like what like that's it.  What don't you love about your hair?  And it's this whole nine-step consultation that teaches people how to do this thing And I think that most people miss out on that opportunity to have a real consultation because It it leads you to being able to actually properly prescribe retail products for them And I think it's an underutilized thing because so many people So many people don't actually offer a consultation inside the salon They just offer haircuts and colors like one of our one of our highest performing and I'll go back to social media One of our highest performing social media ads is this idea that come in for a free makeover consultation And it says are you tired of your stylist asking you same thing as last time? Well, then come in and check out our salon and it's literally designed to you know Take those mediocre salon people that are just kind of getting by and doing it that are boring And take the you know say like hey, if you're ready to mix it up like our salon does full consultations from top to bottom You know what I mean? It's huge. That's good. That's really good. So yeah, sweet. So the last uh This isn't a question. I don't think I had any more question Hey, by the way, matt Do you mind if I uh, if I if anybody wants information on the console game if I drop the info out on that No, please Please do is that okay? Yeah, yeah, and I think you should have one behind me. Hang on a sec. I'm gonna go out of focus going out of focus matt Come back, but dude just I know right but dude check this out. Uh, I think it's in focus It's called the consultation gamification And I mentioned it like I said because it teaches those nine steps of consultation if you want information on it All you have to do is uh drop the word consultation and we'll try and figure that out But check us out. He's got a full playing board on like what are the nine steps of a good consultation? What comes up drama distractions all these things and then it literally has like legit level playing cards That you can do inside your salon and I know I'm in like plug pitch fest here, but stay with me Um Is that dude this the idea is is that literally literally has playing cards for how to learn how to give this world class Consultation and how to queue you through the whole process. Um, we actually even created an in salon digital training video where it's me and my uh one of my Trainers on my staff where we actually teach you inside the salon How to run this consultation game and and have it be this really incredible thing So it's a 90 minute in salon digital class That's really like interactive and exciting and all this stuff So if you guys want information on our consultation game Do me a favor drop the word consult or consultation down and I'll try and track down every humanly possible channel that matt beck Has attacked with social media But it's it's amazing We've had people who've doubled their retail just because they've learned how to give a better consultation And it's probably the one thing that you're not doing inside your salon That will help you make more money from getting clients to rebook getting clients to buy retail Is that I mean do talk about non-social media? That's free. It's easy It's just asking better questions to your guests when they sit in the chair You know what I mean for short and I actually I have that game and I I still need to make a video about it So I will work on well. Here's the deal. Let's uh, let's do this. I've got my digital in salon I'll send you the digital in salon training so you can run your staff through it. Tell me if they hate it I don't think they will but they are used to you so, you know Let's we'll have to see if my if my training skills are up to speed to the that beck show skill Hopefully it is but anyway, dude, I'll send it to you and you can play it with your staff, but it's awesome Okay, cool. Um, all right last question. So ingrid on instagram says is good is Is it good for business to ask for a deposit on big projects more than six hour Six hours. Do you with your salons that you uh coach? Do you talk about uh that with them? Yeah, we do a lot actually it's a really good question. Um, that comes up quite a bit inside of our group Is people ask that question they're like, do I charge deposits? What do you do? How big is the service? So there's kind of other layers to answer on that question of like, should you do a deposit? So I got to kind of answer some pre questions first, okay Is it again? I go back to what I talked about at the beginning of this podcast Which was what is your policy? So like you don't want something to book a four hour service and then call and cancel and call in sick, right? Like whether it's sick or they just cancel or any of that stuff. So In general, what is your policy which a lot of our salons have a policy where if it's a longer service They do require sometimes a 25 deposit in order to book that much time With the guest or sorry with their stylist and then they also know if they cancel inside of 24 hours or 48 hours Again, you make the policy for your salon And if you are the stylist talk with the owner about how to make that policy Um is to say if they cancel inside of 24 or 48 hours That they forfeit their deposit and you have to be clear with that relationship upfront. So is it a good practice? Absolutely You know in today's day and age are people distracted by a million things?  Will you put a policy in place? Another standard practice that I have for things like this again depending on the size of it in my company Is that we pay a lot of attention to what is the pattern and the trend? Meaning if somebody cancels the first time we give them a warning Okay, but the second time Then we well so after the first time we alert them to the policy and say hey typically if you cancel inside 24 hours There is a 25 cancellation fee. This is the first time you've ever done it So I want to just clarify there will be no cancellation fee But in the future we're going to require a 25 deposit And if for any reason you cancel inside that 24 hours Then there is that cancellation fee that will be applied because I can't rebook that time as your stylist Or we can't rebook it and I can't even use it because you know i'm booked, right? I'm 80 percent booked sometimes So I think part of it is understanding what is the policy for the salon should you do it? Again, it should be salon-wide If you are independent you can do whatever the heck you want obviously you can just say that's my policy But I recommend warning them the first time Giving them that charge warning and then saying the second time. That's it and a lot of salons You know they have their credit card on file So you can do it that way depending on your software But if not that would mean that you then have to institute that policy of actually collecting a 25 percent deposit At the time of booking the service one of the last plug I want to give on there because online booking comes up as a big part of this also somebody books an appointment online And it's a three hour appointment that they've booked online and then they cancel that My policy that we talk about inside our academy Is if somebody books an online appointment through your software, that's not a real appointment And still it's been verified by your front desk or by you if you're doing it by yourself But the idea is that's an appointment booking request Okay, so it's a request for an appointment that then needs to get verified The reason why that's so important is so many salons have switched over to online booking and they're like If they count it just like they booked with the front desk But what if that guest didn't really know what they were booking? They thought they were booking for one thing they booked for another They don't know your terms of what you set up your online booking for So make sure that your front desk calls confirms make sure they're on the same page And it makes a huge difference into What's going on for them? So hope that helps a little bit That's actually a really good call on online booking because I think a lot of people just Leave that appointment in I think we even do that here. We don't call To uh, confirm I don't think we do we could but um, that's that's not a policy that we put in place, but quick tip man Yeah, that's a good one. I like that Uh, very cool. Yeah. Yeah Totally go Got anything else?  What if you have them down for uh, you know, uh an hour appointment? They show up 10 minutes late because they were over at starbucks, you know waiting in line They're like, oh, sorry, you understand. Hehehe, right? Like, you know, what what's the policy on that? And I'm this I have the same thing as like for clients being late Meaning that if for some reason like they're running late, you got to let them know like, hey Just so you know, I'm booked super tight today And so today I'll be able to make this happen But if in the future you show up late and again, I'm just putting this out here You might want to say um, if you're more than five minutes late, I won't be able to take you for an appointment Right like just so you know like for future that will be the case. Um, but here's the deal If you're going to enforce a late policy like that for your guest guess who else can't be late You can't you can't say oh golly. I was running behind today And so sorry I got to make you wait an extra 15 minutes. That's fine, right? And that's why people don't enforce policies and this this goes back like I hope I can put a bow on this whole thing that is this goes back to the whole thing We've been talking about today is you know, well, what if my guest is sick? I can't allow them to come in. Well, same thing.   They don't have procedures And so they're literally making it up every single day and they're worried that they're like well I made up this policy and it's going to be like this for a minute and Clients are not going to like me. Yeah, because you're not running like a business You need to run it like a business by having policies in place for these things in advance Nice That's the one I really love that I bring it back. You did you did Um, that's the thing we talked about last last time about I don't know if it was cancellation policies or what but um They basically like as a stylist, you know, like we're adults, right? So we need to we need to take Right. We need to take responsibility. We need to speak up first off If somebody's late too much then you got to speak up about it. Um if Like but what I see too much is people getting frustrated about clients But then not looking in the mirror at themselves, right? Like I for some reason have I have no, um, if a client's late like I don't care like the day always works itself out. Um, like no matter what you might have one late But then all of a sudden one like one's early, but like everything just works out.  Yeah, they should get something too and that was something that struck and I talked to christina about it because I'm like You know as we're working on this cancellation policy here. I want to make sure that the client is the number one Um Focus for us as a team, right? So me and christina are salon owners So obviously you've got the whole you know our staff is very important and then the client So if you take care of your staff, they'll take care of the clients. You got that whole thing, right? But when it comes down to it Us and the staff all of us we're a team and the number one thing is that is that client in the chair So Are we being held just as responsible on both ends? So I think when you put together your cancellation policy sick policy all of that I totally agree with the fact that the stylist should be just as accountable and the salon owner and the salon As the client is on that way around and I think it makes it a softer thing So if you say the client if you call in sick or if you if you cancel your appointment You know, we're going to take your your deposit, but also if we cancel your appointment We're going to you'll get a free upgrade Yeah, you'll get a free upgrade the next time that you're here We'll we'll upgrade you for free to a chem system to a conditioning treatment to whatever You get a free upgrade or we'll give you this much to use on retail as an apology for us wasting your time You can't you can't be on your horse and say i'm high and mighty and I i'm above the rules But you have to follow the rules It's a two-way street You have to create rules that are enforceable in both directions And that's we do that inside our academy by creating something called the code of honor Systems and policies like there's so many cool things that exist inside Having a plan for it And if you don't have a plan for it like start making it up or get involved with a group like our group or another group That's can start giving you some of those details because if you don't have help and you're just winging it And you like salon owners often like you said matt is you got to like it's you and your wife You're like I got to talk to you know her and say what do we want to do? How's it going to work like in our academy? What's cool is people literally ask everybody in our academy They say hey, what do you guys do and then they can help use that policy from other salons, which is like Dude, I wish I was the smartest person in the room But if i'm really honest I just happen to work with hundreds of other really smart salon owners And we've just already worked to solve these problems before Yeah, so you've heard them and that's like that's the the benefit to be a part of it. Yep So um, so how do people I just shared your link on all the stuff so you don't have to worry about the game thing Um, so anybody anybody that's interested in the game. I shared it on all the channels So you'll see the link. Um If anybody wants to be a part of like I could literally talk to you all day if anybody wants to be a part of your Academy your program. How do they get more information? Yeah, dude, if you guys want information about checking us out and by the way, I want to say this We're not for everybody. Uh, so like don't be offended if you apply and we say it's not the right fit at this time We're really for salons that want to grow quickly So if you're a salon owner and you run a commission salon and you're looking to have a team Meaning you're looking to have three five ten fifty people multiple locations. Whatever you want to do That's the right type of person. You should apply to work with us. Um, we have a really cool video That'd be worth watching like it's not a pitch. It's just check out what we do Um, it's it's I'll send you the link for that too matt, but it's a high performance salon dot com Can I play it? What do you mean on your screen? Uh, well, it's I have a like it's a 27 minute video But yeah We got time. There's yeah, let's not watch that But i'm just saying it's a 27 minute video that like gives you an overview of what we're about Uh, if yeah, it's I don't have like a quick commercial. You can't make that 27 seconds I yeah, I wish but dude it's it's watch it See if you like what we're about and then if it makes sense You can apply to talk with somebody on our salon acceleration team Which is basically our job is to help you get more done in the next six months Then you probably have in the last six years and if that's you you're like I just want some help to speed up my process as a commission salon owner Let me know if you run a you know if you if it's just you and you have maybe an assistant That's probably not the right thing to chat with us. We have some cool things for you But if you're a commission salon, you really want to know how to do it Dude, thanks And I'll pop that in the comment and have you send that out to matt But dude just go watch that free training and if you like it apply to talk with somebody on our team It'd be awesome and hopefully you got some value. I just being here I want I want to be clear My goal is to give as much value for free because I know I can't work with everybody And our mission with a high performance salon academy is to elevate the entire industry So let's just keep you on that matt. That's why I love being here with you because you do that so well every day brother Thanks, man. I'm I'm so happy that you uh agreed to do this again Let's do it again. Maybe in a month or so. Why not? So, um, everybody let's do it Go check out jason stuff for sure and at least follow him on social because he's putting out He puts out free content a lot So if you guys just want to get to know him a little bit better and see what he's doing But you know, I I always love keeping up with what you what you got going on. So Thanks so much pal. I'm gonna hang up on you and I'm gonna end this thing. But uh, thanks for being a part of it I'll talk to you soon. All right Thanks for doing what you do, bro all right guys Thanks for being a part of the podcast again, uh Like always I enjoy doing this. I'd love to hear if you guys like This podcast, um, I know I'm well aware that you guys love seeing hair videos. You love seeing the hair cutting things all that stuff I love it too. I love creating it. But I also this is the most important part of the salon business Whether you agreed with everything that was said today on the podcast You we can all agree that There's a lot of conversations that need to happen to help grow this industry to make it bigger and better um, and You know having these conversations helps and having you guys on live. I love seeing you guys on here a lot of you guys stuck in um Even though we were talking business the whole time, uh, really appreciate it So if you love seeing these podcasts, please let me know In the comments, uh that you do because I like seeing that it's encouraging to keep this going every week And then also make sure you share this and tag me in it because any of these clips Any of this video that we can get out there and just make it more obvious that this is important in the industry That all helps so uh with that being said Thank you To manorvabeauty.com they do uh, they're the biggest supporters of this podcast They've been a supporter for about five years of my podcast ventures um The beauty industry needs to wake up the podcast and understand that the real hairdressers listen to these things out there so Check out manorva beauty. They have a fly-in program If you're looking for uh, you want to see furniture in person They'll up they'll uh, actually pay for your airfare up to 350 dollars if you buy 5 000 dollars worth of furniture Which is pretty easy to do uh, and they have the best prices in the industry So if you're looking for that upgrade make your salon look great treat your guests right and you'll be more successful in the salon I see all of your uh comments. I see all of it You're very welcome. Thank you and uh jason. Thank you for being on the show Let's End this day. It's gonna be a great day guys. Thanks for being a part of it I woke up this way


Hello everyone!  When I was on a call this morning, one of our pro tip calls with an office manager from one of our offices, she was sitting in the optical lab area while we were having our conversation and I noticed in the background one of the other opticians was getting some orders ready that had obviously just come in or some frames ready to put up on the board for inventory and it was you know taking the frames out and you know taking off all the packaging and you know taking out the cases and throwing away the boxes and some of the extra packaging material. We were talking and I was like hey you know you might want to actually keep some of that packaging and she's like why? Like we have so much of it you know it takes up a lot of room. We're keeping the cases anyway so why not keep some of the pretty packaging that comes with it? Now I get some of the packaging is super lame and super gross but here's a simple truth with our I guess world that we live in today.  I don't care what type of iPhone or Android or whatever kind of phone you get, the packaging is beautiful. I mean even in shoes it's beautiful and we talk about it in one of the cell smart courses that we teach. How important how important the packaging and presentation is when you give it to your patient. So I ask you this I ask you to really pay attention because some of the the brand and frame manufacturers are really good with some of their packaging. Like way more than just the case especially you know some of the independent brands for example state. I'm going to show you a visual here of you know what state optical does with some of their their casing and their branding and packaging. It's absolutely beautiful. You can use this in your social media. You can use it you know like as an unboxing. You know you've got a new frame in so you're going to make a post on your social media where where you unbox a new frame and you take out the package and you unwrap the layers and layers of all the really cool stuff before you get to the frame. That's exciting. People love seeing that stuff. The other thing is when you have a patient that their glasses have come in go ahead and you know take the prescription read their glasses make everything beautiful and then package it back up so your patient can have that excitement of opening up this beautiful packaging for this you know investment that they made in their eyewear. It'll make a huge lasting impression for your patients. So let me walk you through the layers of really awesome packaging that the state frame has. So first off the multicolored box amazing and then you open it up and it's oh the frames aren't quite there. There's another little layer in there so you take off that layer and then there's a beautiful cleaning cloth that oftentimes we just stuff in the case and then you know the patient doesn't really notice how special it actually is so state has this beautiful cleaning cloth with Chicago and all this awesome stuff on it and then when they open it up it's still not quite even to the frame yet because then you have the case that's beautifully wrapped up and then once they open it up then you can see the frame there and these awesome tinted lenses that we had made at VA Optical and then once you get all of that you know you've got your happy patient who's putting on their glasses and they have an amazing experience that they just had an opening up their packaging. So for some of you you still have those little baggies that the dentist gives you for the little freebies for your tooth floss and your toothpaste you know some of you are still giving stuff away in that we really don't recommend we recommend investing in really great packaging but whether you have the dental floss baggies or you have really great packaging really utilize this packaging products that have been given to you through some of the frame manufacturers. So I ask you to think about the ways that you are utilizing some of the packaging or not utilizing it especially when it's been given to you and included in the frame and how we can be setting a better experience for our patients. I hope you have an awesome day!


Hi guys, yeah, we're joined by Eddie Dommez here. I thought I'd bring you in, Eddie, because I wanted to get your views. Basically what we have here is we've got US stocks down sharply again today. This is actually the sixth straight down day in a row. And actually you'd look at it and say, it's pretty much the biggest down sort of period we've had on stocks since the kind of COVID pandemic blew up back in quarter, quarter one, quarter two of 2020. So a lot of the press are kind of pinning this situation on this idea that yields are rising. Can you explain this? Why are yields rising? Yeah, I think it's a less sinister thing than people think, to be honest. I think the actual, when you hear inflation, it's normally associated with a kind of bad thing. It's a kind of dirty word. People get scared, scared of it. But I think for this reason, we've got lockdowns easing, global growth about to return, as you mentioned, lots of money ready to be put to work. And I think it's actually the expectation of global synchronized growth as we kind of emerge from the ashes of this kind of COVID pandemic. And actually economists at Goldman are expecting a 6% global GDP number in 2021. And that's actually the strongest in 30 years. So that's a pretty hefty number. So yields are rising because of this synchronized global growth story. Okay, and how do you think, though, that it's, okay, 6% upside for GDP in 2021? I mean, it doesn't really make up for the sharp downside we saw in 2020. So given that this is just kind of filling some of that COVID GDP decline, why is it now investors are getting all excited about this yield play? Yeah, I think there's a lot of things kind of at work here. So we've obviously got this global GDP uptick, lockdowns easing, but let's not forget the onslaught of monetary stimulus that got put on last year, both from a monetary perspective and like you saw with Jay Powell today, there's no easing up on those keeping those rates and then thus yields low. We've also got fiscal expansion. So we had 900 billion in Q4 of last year and then another 1.5 billion probably gonna pass. So you've got all of that global... I guess this is right, thinking about it. Look, you got on that central bank side that is so much kind of stimulus coming through and with that fiscal stimulus, this double whammy, which is really driving what people are talking about is the inflation expectations are rising. And I guess that's one key theme that's driving yields higher, but obviously stocks are taking it badly here over the last few days. Do you think this is the top of the equity rally? Wow, if you ask Sam North by the dip, yeah, I think first of all, you need to break down why is it bad for stocks, essentially? Higher yields, that is. So higher yields, when you're forecasting the cash flows of a company, an asset or even a financial instrument like bonds, higher yields and inflation, let's say, inflation erodes the future cash flows of those assets when you discount them back to today. And when you look at all the kind of names speculative names that teenagers have been yoloing those deep levied, out of the money, call options on and there's been a huge speculation with Tesla, Bitcoin, Plug Power, all those renewable energy companies. Those companies are hugely speculative in the sense that investors are paying a huge amount for future earnings, right? And these earnings are not coming in 2022, not in 2023 in some cases. This may be a 2025 or 2030 story. So when those yields start to rise, those cash flows are really uncertain and those inflation starts to bite there. So those speculative assets that have a huge proportion of the cash flows generated in the future are really gonna fill the pain. And you're seeing it actually today with Tesla, obviously, Plug Power, all those renewable energy stories, autonomous taxis, all those really future looking stories especially a good speculative trade recently has been the ARC ETFs and this is the innovation ETF and genomics, they're really suffering today. But you can't tell me that a multi-decade secular shift towards renewable energy is being derailed by short-term concern that inflation and yields might be rising. Yeah, this is a secular trend, right? This is not gonna go away, but when you're Tesla or your Plug Power and you're being valued at, okay, let's say the S&P 500 earnings, price to earnings ratio is 15 times. Tesla is at 1,000 times, right? Plug Power is at something similar to that. All these speculative names are being valued at such high proportions of earnings, there's kind of that sum element of mean reversion in the sense of, okay, let's take a breather here. We've come up a lot, some of these names are up 500, 1,000% in the last year. This is not derailing the whole story, but it's causing investors to really go, actually, should we be paying 1,000 times? Right, and I think in looking at these big indexes like the S&P, like the NASDAQ, it's obviously not just these very speculative sort of long-term plays.  I guess it's a slightly different story on that inflation side, just thinking about companies like the apples of this world that carry a huge amount of cash. So rather than future cash flows, it's actually cash that they currently have on the balance sheet. And I guess inflation rising results in the value of that cash being kind of revised down in future years, right? Yeah, I think with the apples and the Amazon's look, these are not the plug powers. These are generating serious earnings now, right? They're not something to be taken lightly. However, there's that reflation trade that I'm sure you can tell us a bit more about. There's gonna be some asset allocation and some movement away of, okay, we've had a great 10 years in these technology names. Actually, we're seeing a pickup in global growth expectations. Let's take some of our winners here and put it towards an Exxon Mobile or a cyclical name that's gonna benefit from this global growth expectations. But I guess for the people that haven't watched your very famous podcast, could you talk about the reflation trade and kind of what that means? Yeah, just kind of briefly. I mean, the whole reflation trade is born around the thesis where 2021 is the emergence from COVID. It's where the global economic system comes out of lockdown. And what you have is several factors all coming together. So that is monetary and fiscal stimulus, okay?  And I think, so that's the demand side is going to rise quite sharply, we predict. At the same time, when you think about the supply side, we also anticipate that the supply levels are too low to perhaps meet this spike in demand on the supply size low because A, businesses have been de-stocking during this crisis and B, there's been supply chain constraints that are also in place. So we're looking at a demand spike with low supply fueled by fiscal and monetary stimulus and people coming out of the jail of their house to kind of just get out there and let loose, okay? And all of this we're expecting to drive that 6% upside in GDP in 2021. Now we're expecting that to all result in inflation rising, okay? And so this reflation trade is absolutely all about these cyclical or just sectors that benefit from cyclical growth plus increased in inflation plus stuff like increase in the kind of steepness of the yield curve. So you've got cyclical stocks, energy stocks love inflation you've got banks that love that yield curve steepening. And this is the kind of play that's really been in the mix, I'd say for ever since Biden pretty much won the election or even before the election when it started to become clear he would win this kind of whole reflation trade began. And obviously then coupled with that back in November not just the Biden thing but vaccines started to really come out and okay actually we've got some vaccines here that can get us out of this COVID crisis in 2021. So that's the reflation trade but whilst that all sounds very positive for stocks and certainly those ones I mentioned what you're getting today is the opposite in terms of stocks are selling off so it doesn't quite marry together with that reflation thesis. So that's why it's unusual that's why I think on the one hand whilst the broader indices are lower this is a buying opportunity for a reflation trade scenario but separate to that is yes some of these certain names have gone into almost like bubble like territory where valuations have gone crazy and I think inevitably to use the inflation the inflated bubble is just kind of deflating quite rapidly on some of those names. Yeah and I think you're seeing that right in the composition of the indices you're seeing the NASDAQ down 2.3% and the DAO for example down 70 basis points so that's that secular and the sector composition and the difference between them. Got a good fact for you is historically actually the best returns for stocks have actually come when there's low inflation and lower bond yields together and then there's been inflation ticking up because of the slower growth expectations. Why? Because as you've mentioned a lot of times before yields are not at 6% they're at 1.5% if that. So rates are actually still low enough to support risk assets while playing into the reflation trade scenario. Yeah, two things to say to wrap just your point about the different indices so the DAO is better off relatively today to see where the FTSE 100 closed up 0.2%. So the FTSE is packed full of energy names and banks right so that's kind of and there's no kind of tech and bubble like kind of tech type kind of stories in that index. The other point I wanted to make was then just how I think that in the end this is a lot this is volatility, right? This is short-term volatility and in the end the Fed are kind of staying super dovish and whilst there's a lot of volatility playing out here I think that this correction in many ways is quite healthy ironically for the kind of more medium term uptrend that indices like the S&P 500 have got going on. So I don't think this is the top for the S&P 500 in 2021 and I think there's still more room to go on the upside I'd say, but certainly makes it interesting and we love a bit of price action. Definitely. Cool. Cool. Well, thanks for that Piers. No worries, catch you later. Take care.


Now when we're dealing with exergy and exergy analysis, one thing that we do need to consider is the amount of work that we are doing on the surroundings. So exergy itself considers performance with respect to a dead state. Now what we need to do is, given that we're considering the performance of a system with respect to the dead state, if we are doing work on the surroundings, that would be the case where we have a control volume that is changing with time throughout our process and it would be one of either expanding or contracting. If it's contracting, the surroundings is doing work on our control volume, but let's assume that our control volume is expanding. Well in that case we are doing work on the surroundings and the work that we perform on the surroundings can be quantified as the dead state pressure multiplied by the volume change. And so what we need to do when we're evaluating the amount of useful work that a system can do, we need to take the work that we're doing on the surroundings into account. So the amount of useful work that we get, and we'll denote that with a w subscript u, is equal to the work minus the work that we do on the surroundings and by substituting in the quantity that we said was for the work on the surroundings, the w here is the actual work being performed. So that is something that we have to be careful about. If we have a control volume that is changing volume, we need to take into account the fact that we may be doing work on the surroundings. And there are two more terms, or I guess terms would be the best, that we should think about. One is reversible work, and we will talk about these. Reversible work is defined as being the maximum amount of useful work that can be produced. So that is what reversible work refers to, and it makes sense, it would just be the maximum amount of work that you could produce if you had no irreversibilities in your system. So when we looked at the example of the Carnot heat engine a moment ago for the example problem and we had the source of 1500 Kelvin, the amount of useful work coming out or reversible work was that from the Carnot efficiency. Another term that you'll hear discussed when we talk about exergy and exergy analysis is the term irreversibility. And what this is, it's basically exergy that is lost or destroyed through our process. So we want to minimize irreversibility as engineers. These are losses in our system. And irreversibility would be defined in two ways depending on if we are looking at a system that is producing work or a system that we are doing work on it. And so taking a look at the first where we have a system that produces work, irreversibility would be reversible work out minus useful work out. And if you have irreversibilities what will happen is reversible work out is your ideal state and it will always be larger than the actual or useful work that you get out of your system. And consequently irreversibility in this will always be a positive number. Or you can have irreversibility expressed as useful work in minus reversible work in. And reversible work in on a device that you're doing work on such as a pump or a compressor is always going to be less than the useful work that you're actually putting in. And consequently this will always be a positive as well. So always positive and always positive. And this is work producing and this is work in or work and we'll call it input. So that would be something like a pump or a compressor and work producing would be a turbine. So what this is it's a quantification of exergy lost or destroyed. Sometimes you'll hear the term exergy destruction and what we're referring to are the irreversibilities that exist within our system. And our job as engineers is to minimize those irreversibilities. So those are a couple of concepts that we'll be discussing when we continue on through exergy analysis.


If you haven't watched the new Fast 10 trailer, Fasting Your Seatbelts, let me break it down for you. Let's ride. Let's ride. Let's ride. It's time to get to work. Family! Game recognizes game. Bitch. Let's ride. Paul Walker used to be in this. No one goes against my family. You've made quite the family for yourself, haven't you? Dumbass. Let's ride! Let's ride. Time to say it! Let's just ride already!