Call in with Colin

5 Signs you are ready to take the leap of faith

October 29, 2021 Colin Wayne Season 1 Episode 22
Call in with Colin
5 Signs you are ready to take the leap of faith
Show Notes Transcript

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Speaker 1:

Welcome back to another episode of the column with call-in show. And if you're a young entrepreneur or CEO, this podcast episode is definitely for you in today's call. We're going to cover four different topics, one year, one pitfalls, and what to watch out for. So you can be ready. Number two, how to build the right team three overcoming losses and regaining vision and focus when you've lost all hope. And number four, why it's important to find your why and how that's going to help you win. And today's guest is calling in from New Jersey Ronak Shaw who serves as the CEO of [inaudible] , which is today's fastest growing cottage and brand in the industry with over 1 million customers sold in 72 plus countries and generating over eight figures in top line revenue, man, this guy is crushing ladies and gentlemen. Welcome Ron Shaw to the show come ,

Speaker 2:

I got to make it a mate . I got to make it a mix . I've got a negative [inaudible] .

Speaker 3:

So Colin , if you could travel back to day one of your startup , and if you have 15 minutes with your former self back then to communicate any lessons you acquired with the intention of saving yourself mistakes , um, what would you tell yourself? Um, uh , you know , a former self , uh, back then. Yeah .

Speaker 4:

Great question. And so many different things come to mind. Um, I would say the first thing would be to , uh, be very conscious about titles and positions to , to different people as you're growing the organization. Um, and then I would tell my former self to invest in the right people because it's really people that drives the business. Um, and one of the biggest things for me that I learned was through a lot of like challenging , uh, setbacks essentially. And I hired a recruiting firm, which ended up being the best decision I ever did. Um, so I also like wish that I had learned a little bit more about like the marketing ad side, you know, coming from the social influence and working as a talent, but not behind the brand. Um, I was, I never really saw behind the curtain. Um, I wouldn't change too much about it, but I did lose a lot of money on the front end because I wasn't like properly excluding audiences. So I would do like , um , customer acquisition on paid placements and not exclude , um, or I would geo-fence , um, the United States, but it also had like, or visited location in. So those are like some very, very small things that come to mind would be hiring the right talent, be very, very , uh, uh, responsive of who is in certain roles. Is it the right person, right. Role, right. Or wrong person that you just need to get rid of. And , um, that would kind of be my quick 15 minute cap to myself.

Speaker 3:

So that's awesome. That's , uh , that's really helpful. Um, you know, to touch off that question , um, you know, what's your best advice when hiring or recruiting certain team members and in more detail, you know, I love the, the suggestion of hiring a recruiting firm. Um, but you know, when it comes down to the actual person and you're sitting across this person and you look at them and obviously they're going off of there , you know, you're going off their, their, their, their skillset that they're saying they have, and you're going off of, you know, prior work experience they have, but how do you really know how this person's going to fit into your culture and what your expectations or requirements will be besides it kind of being like, Hey, partly maybe guests or gut, but curious to know how your chain of command goes and thought process there.

Speaker 4:

Yeah. I love it. So it's really going to depend on the position that I'm trying to void fill. Um, what I would say is resumes to me , um, don't really matter. Uh, uh, I don't care too much about like the former education. I care a lot more about the person. Um, I've care about their integrity. I care about the way that they carry themselves. I care about do they show up right time, right place? Um, if not, there must be a valid excuse flat tire. Something happened. If they're late , uh , to an interview, I would just call off the interview. Um, so I think that there's just some red flags right off the bat that I'm looking for. Let me give you an example though. Uh, we hired a guy , uh, we kind of do open rounds of interviews for general labor positions. Um, and we interviewed probably 15 or 20 people. This was a few years ago and this guy , um, he ended up, he was autistic and you could tell something was off and he'd never had a job before didn't have much on his resume. And I remember the conversation and all he said was, all I want is a chance, that's it. And I said, you know what, brother, I'm going to give you a chance somebody has to. And so I think a lot of it is just based on who I am as a person. Does it align from a value standpoint? I would rather have somebody that's not as talented, but that's more hungry and ambitious. Some of the most, some of the most talented people you see on resumes, they know that they can go anywhere else. They know it so they can become extremely complacent. So it's a hard balance between the two. I would rather have somebody that's hungry, ambitious, somebody that I can nurture and kind of like sculp. Um , and that's hungry for wanting whatever the vision is. The vision for me at red line is to become the largest skyscraper in the home decor industry. So that's my vision, and it's not just within steel. It's within Lottie Dottie everybody's house. That is a home decor product. It could be rugs, it could be wall art decor . It could be furniture. You know, when they think of red line by definition, like fastest, furthest point considered safe. Like I want them to think about , um, when they see home decor, they think, oh, that must be red line. And so that's what my vision is so conveying that they can buy into it and see it, you know, then that's really big for me, but obviously like certain key positions, you're looking at a financial controller, then I would look into more of a resume perspective , um, love referencing , um, and not necessarily people that , um , they put on their resumes, but interviewing directly and asking them in person , um, who are some of your past supervisors , um, write it down, write down like their names or whatever. And then at the end , um, like recap who they are and then try to touch base with those people because who they put on their reference guide is going to be the best people are going to talk great about you. Uh , but at the end of the day, like if you bring it up like subtly and they have no clue that you're actually going to do some due diligence , uh, and then touch base with those that actually reported directly from a supervisor's perspective, would you want to hire this guy again? Like, that's what I want to know, how was this person in the workplace? So

Speaker 3:

That's great. That's a , it's a lot, a lot of gems in there. So I appreciate that. Um, I, you know, I loved , um, one of your videos that were, that kind of talked through the journey of, you know, how you initially started and then how you almost lost it all and , and kind of the, the come up after that , um, you know, businesses that have second lives or second lives , almost like, you know, I , I feel like have the best journeys because you literally came so close to death and , um, you almost probably faced it. Um, can you give me a short version of your overall winning loss record? Um, and, and you know, what that looks like, and maybe, you know, do you carry it with you everyday to remind you?

Speaker 4:

Yeah, so man, I remember , uh , 2018 best fourth quarter we'd ever had as a business. Um, it was a perfect storm. It was something that was outside of your control, something that , uh, literally , um, there's no other plan in place that could have happened to make it any worse of a situation. So for context, we had a massive screw compressor go out. The screw compressor was almost brand new, like four months old , um, under warranty, but these are not compressors. You can go to like home Depot and buy these. These are directly from Italy and they power nitrogen , uh, high pressure tanks, low pressure tanks generators, and they take the air that we're breathing right now and converts oxygen into 99% purity nitrogen. And that's what powers our lasers. Well , this key piece of machinery dies at the perfect time, which is fourth quarter. And that is really what carries the weight of the business. So fourth quarter for us is typically two to three times revenue than other quarters. Um, fourth quarter for us in 2018 was a great coup it was our best fourth quarter we had ever had. Now at this time we were only two and a half years, three years old as a business , uh, just moved into our 110,000 square foot facility and this perfect storm happens. So the first thing that I did was all right , redundancy while we're trying to get this fixed, figure out what I can do with this warranty machine. Let me go ahead and buy another screw compressor, right? So I bought another screw compressor, put it into place, which those, by the way are like $50,000. So it's not like a quick fix. Um, we ended up having , uh , water and the lines ended up damaging , uh, I think one or two laser heads. And at that time we had four lasers. So half of my capacity was now down. We were allying on. So we finally fixed some of the air issues with another, that fix and all that to say it became the perfect storm that you couldn't even like out of your control, right? I mean, you find a fix. This ended up happening now, now what's the fix. And it's like, all right, let me buy this. This is, you know, then this gets installed. We broke two freaking heads on lasers. All right, let's call IPG. Well, they can't get down here until 10 days. All right . Now what 10 days goes by? Yep . Something's wrong with the line. We have to replace this, but it's going to take two weeks. And that's all kinds of stuff that is just out of your control. And I swear to God, every entrepreneur goes through this. The years of the challenge, I look like the Grinch and I did not want to be the Grinch. I wanted to be Santa Claus and I wanted to be Oprah here, you have this, you have this, you have this. But my challenge was, everybody's looking at me as if I did something wrong and there was no integrity behind what we were doing. That was the hardest part. Man is like questioning my integrity behind it when I feel confident and all this happened, by the way, like , um, there's was like first or second part into November and we thought we could fix it by putting up that other compressor. And so these redundancies that you've put in place, a lot of times, they just continue to fail and it really comes down to how fast can you pivot and just show up every single day when you don't feel like showing up show up anyway. Um, I remember, you know, I got blown up in Afghanistan, honest to God. I would rather get blown up in Afghanistan again than to go through that again. But I'll say this, that setback was a massive setup for our future. Um, we ended up having about 60% of our staff ended up quitting. Uh, two of my primary supervisors left to start their own company to compete against us. And I did not have any management that was higher level. And I was out there packing boxes seven days a week, whatever it takes, I'm just going to keep doing it. And, and , and, and there wasn't like mentally, I was like, all right, this sucks. But you know what? There's 40% of the people that are still here, I'm going to keep showing up. And over time it ended up being one of the best things for us. I ended up hiring the recruiting firm exactly after that. You know, I want to find people not where I'm at today, but where I want to be. If I want to be a billion dollar company, I've got a hire . And I got to have the mindset of the framework of where I want to be within that time frame. And so like these doors that you just never envisioned happening, it opened up abruptly very, very fast. And that setback has now one of the beds, the best setups that that is for my future. Um, and I wouldn't change anything about it, but I sure as wouldn't want to go back to that point either. So

Speaker 3:

No, that's a, that's a , that's extremely humbling, probably what you went through. Um , but it's awesome to see that you can go through it, get out of it and then strive. So , um , thank you for sharing that. Um, if I have time for one last question , um, I just recently finished a book , um, uh, Tim Grover it's called winning. Um, and , uh, he was, he was Michael Jordan and Kobe Bryant ex um , personal development coach , um , who wrote the book, but , um, he said , uh, he asked Michael Jordan, what does winning mean to you in one word or less? Um , and Michael Jordan said everything. He asked Koby what winning means. Uh , Kobe said nasty and hard. Um, if you could, in a few words or less, what does winning mean to you? Uh, if you, if you can , uh , give me a few words for that. That'd be cool to see your mentality.

Speaker 4:

Oh man, that's tough. Uh . I guess if one word would be fulfilled , uh , I'm very, purpose-driven , everything is extremely nothing article. Um, I am, I mean, I already know 10 years from now what's going to happen or where I envision and everything is based on for me, inner peace. Do I enjoy what I do the minute that I check out and I'm at boardroom meetings and I'm doing that I don't want to do. I'm done. I'm just going to check out, move to something else. So I would say purpose and inner peace. That's extremely important to me. It's not financial. Um, it's nothing from a financial standpoint of all . I want to be a billion dollar company and I want to be the first ever billionaire in Alabama. No, it's not. I mean, obviously, like I want to challenge myself to do that, but at the same time, I think it's very important for me that every single day I should be able to wake up and genuinely want to do something, not have to big difference between I want to want to do this versus I have to do this. And so that's really the place in my life where I would love to be. I'm not there guys . Like I'm personally still struggle with that. I'm doing so much that people just have no clue on the outside. Every single email segmentation that goes out, every single SMS, every single organic post, I'm doing all of that on the backend . Like I'm an Alabama, there's not a ton of marketers here. I'm having to like find and scout people. Um, I pers I like, I like to work. I like culture very important to me, but like bringing great people around us. Um , like Roland and Jeff and David and , um, uh, Jacob, Shawn , there's so many people in my organization that make a significant impact, especially on the marketing and sales side that I couldn't do it without them, but it's challenging at the same time, but I thrive under these challenges and for me purpose. And , uh , I'm curious, what about you

Speaker 3:

For me? Um , winning has always been , um, reality. And so it's, you know, a lot of what we do and a lot of what I feel like we're always chasing is something that we're kind of like, you know, either daydreaming about our thinking about. Um, and I feel like for me, winning is when I can take those thoughts, those daydreams , um, and those, those, you know, even night dreams and, and say, I turn it into reality. Um, whether whatever it means, like you said, it's not financial it's , it's not, you know, XYZ . It's whatever I thought about. If it, if I was able to turn it into reality, win or lose on , on the outcome of that reality, the fact that I could do that is winning for me.

Speaker 4:

All right. So now I've got a question for you. What do you want to be known for , uh, after you pass away? Hard question.

Speaker 3:

Yeah, it's a very hard question. Um, I would like to be known for the fact that whoever I got to interact with anyone that I got to talk, or anyone who got to maybe watch a podcast of mine or something, anyone that I had a touchpoint with , um, that I was able to give them some sort of value in their life, whether it's personal professional friendship, whatever it was that they could look back and say, oh, knowing Ron man, I got some value out of that relationship. I got some value out of that person, what they did with that value, you know, not in my control, but I want to be known as someone that if you were able to, you know, possibly, you know, I got the honor to meet you, or you got the honor to meet me, whatever it may be that , um, you walk away at least with knowing that, Hey, I was able to get value from him. And , um, I think that's the biggest thing that's become purpose for me is, you know, even how we building our current company around just a community, right? It's just, everything is built around this Facebook group of helping now 200,000 people. That's our biggest purposes is are we providing you value? We'll make money and all that , um , on the backend, if we're, if we follow this one journey, can we provide value? And I think it's exactly what you're doing. Even with this falling with Colin . Um, you're you truly just want to provide value and you're not asking for anything in return yet. You know, it's , that's what I want to be known for. I didn't ask for anything, but I was able to give you

Speaker 5:

[inaudible]

Speaker 4:

Thanks for listening to today's episode. If you got value from this, I would encourage you to leave us a five star review. It helps us spread the word of our show. Call on with Colin . Also connect with us on social media at colon Wayne one and digital Jeff , if you tag us across social media with today's episode, screenshot this episode, post it, and we'll be reposting it. Be sure to tune in episodes every Monday, Wednesday, and Friday. We'll see you on the next episode. Hey, I see you actually. No , I don't. I don't see you, but if you want to see us on video, go to our YouTube channel, Collin Wayne, search that, and you'll be able to see all of our episodes and video format hop over and be sure to subscribe colon Wayne in the search title.