September 1, 2025 • 41 mins
Today we have another very special episode from one of our live Expert Networking Nights, here in Utah, with Austin McFee. This is the third live podcast that we have done in Utah and it is always fun to have the live audience aspect while recording the podcast. Austin McFee is the co-founder of Dentive, a dental support organization, that they sold a few years ago for $500 Million.
On the podcast, we sit down and discuss what it was like going through that process of selling the business, after only 3 years. The discussion goes from how the company founded and what led to the sale of the business, to a deeper discussion about how money affects your life after grinding so hard to earn it. Austin's story is one of just figuring it out along the way and putting your head down to get work done. If you're an entrepreneur and want to see what life looks to get to a major sale of a company like that, you're in the right place.
Reminder that this podcast is a part of a live show experience, the audio and visual may not be what you are used to from this podcast but we can't emphasize enough how incredible these events are. If you are local to Utah, make sure you come down to Lehi for this one of a kind, podcasting experience, and be a part of these incredible networking opportunities for yourself!
00:00 Introduction
01:43 How Austin started Dentive
09:02 Creating a win-win situation for your business and it's clients
12:40 How to approach selling to experts in their field
16:06 Budgeting your money properly
19:06 Learning business at a high level
23:29 Being patient and not selling your business too early
27:30 How Covid affected everything
29:44 What does financial freedom feel like
35:00 Finding purpose after making such a large deal
38:52 Best and worst parts about having money
41:06 Outro
On the podcast, we sit down and discuss what it was like going through that process of selling the business, after only 3 years. The discussion goes from how the company founded and what led to the sale of the business, to a deeper discussion about how money affects your life after grinding so hard to earn it. Austin's story is one of just figuring it out along the way and putting your head down to get work done. If you're an entrepreneur and want to see what life looks to get to a major sale of a company like that, you're in the right place.
Reminder that this podcast is a part of a live show experience, the audio and visual may not be what you are used to from this podcast but we can't emphasize enough how incredible these events are. If you are local to Utah, make sure you come down to Lehi for this one of a kind, podcasting experience, and be a part of these incredible networking opportunities for yourself!
00:00 Introduction
01:43 How Austin started Dentive
09:02 Creating a win-win situation for your business and it's clients
12:40 How to approach selling to experts in their field
16:06 Budgeting your money properly
19:06 Learning business at a high level
23:29 Being patient and not selling your business too early
27:30 How Covid affected everything
29:44 What does financial freedom feel like
35:00 Finding purpose after making such a large deal
38:52 Best and worst parts about having money
41:06 Outro
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Hello, and welcome to a special live edition of our
podcast here on the Jimmy Rex Show. This is another
one of our live podcasts. We do this every single month,
once a month. It's an event that we have created
here in Utah where we get a live guest and
we do a podcast and then you're listening to it
now obviously recorded, but if you're interested in coming to
these live podcasts, we will share at the end of
the episode how you can be there in person. Free,
(00:23):
also provide dinner. Just a really cool networking event we
do for our Weird that Day members. But today's guest
is a special one is Austin McFee and he is
the co founder of Dentive and they sold that company
to a firm a couple of years ago in twenty
twenty two for over five hundred million dollars. And so
we talk all about the process, how he came from
(00:43):
just a poor background with no money and built himself
into you know where he's flying on his jet just
for fun to go golf and now if he wants to.
So this was a podcast I was excited to do.
The audio again, is a little bit different than you
might be used to. This because it was again filmed
at a live event, but also very good. So with
that we will get to our sponsor and to the
show in today's podcast, like all of our podcast is
(01:04):
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Speaker 2 (01:21):
So you can pick those up anywhere Bucked Up products
are sold.
Speaker 1 (01:24):
Now let's get to the show.
Speaker 2 (01:34):
All right, your first Larson, I've doubt for you. I
just want to know, like, prior to getting into.
Speaker 3 (01:38):
This, I think so many people have ideas in life,
and I want they hear your story. Go like this
kind of sold this company for half a billion dollars.
Where does that journey even start? Like what's that first step?
Speaker 2 (01:47):
When did it? When did this stay for you? They
ultimately begin dentsive. Yeah, so well I was listening to you.
I gotta like.
Speaker 3 (01:58):
Correct, you didn't maximize your ear potential or your a
for exad a fair amound.
Speaker 2 (02:03):
I mean, what do you did it? Like?
Speaker 3 (02:06):
I think?
Speaker 2 (02:06):
I think, I mean, I truly believe this too.
Speaker 3 (02:10):
The the guys that are running the biggest companies in
the world are not the smartest.
Speaker 2 (02:16):
They're just the most consortive and like, you know, for.
Speaker 3 (02:22):
So let's kind of go into that. Like twenty nineteen,
we had we had just my partner and I at
that time, we just left a tech company in dental
we had worked, and another but that was a second
in the dental copy we'd worked and one was like
more of a like an education institution, and then there
(02:45):
the one up until twenty nineteen, it was a tech hub.
Speaker 2 (02:49):
So we left that that got sold off, and.
Speaker 3 (02:51):
Then we kind of started dentis as like a our consultant,
Like you're a consultists. We were reaching out the dentist,
but we knew the subset of like entrepreneurial dentists that
we knew would be like the clients like that resonated
with us. They were smarter, kind of like more progressive
investing themselves, investing their business, and so we're like, these
(03:15):
are our guys, you know, So we started making phone
calls and about six months intil we realized, like dude,
we're going through E and LS and actually making a
big impact of more of an INTAGTM methought wasn't it
wasn't like it wasn't crazy SATs like, it wasn't super hard.
We were just lucky literally what they were spending, what
(03:35):
was coming in and we were just making efficiencies right
in there right like it just threally just dialing this
up kicking app. And so the we were kind of like, man,
you know, like in our previous like company, we had
had some of these DSOs what they're called kind of
support organizations, and essentially all that means is they own
(03:57):
a bunch of business that happened to be down practices
and then they put you know, they put all the
back end admin behind it with two like you run app.
And you could think of it as like a like
I kind of thought about it that kind was like
a franchise.
Speaker 2 (04:12):
Models.
Speaker 3 (04:13):
There were so many different models, like we said, old
famous kind of facehia and now but like we've seen
one dso you've seeing one DSR because they're all.
Speaker 2 (04:19):
Like they're all bull this.
Speaker 4 (04:22):
But we we were there like inboard rings in that
previous company, just like a sales guys seed there, like
listening to their call beings, and we realized these these
like CEOs.
Speaker 3 (04:36):
And cmos and people running these like five hundred plus
you know location but just as like they were so
far removed from the actual patient activity and practice and
like the relationship with the doctor, which is kind of
like essential, right, that's kind of like glow like the
(04:56):
business wherever the revenue is coming in, right, So they
were just like trying to figure every thing out. Anyway,
we were like six months into consulting. We were like, dude,
we should own demo prizes and just do this with
our army dental crisis. And so we approached two of
our clients there were brothers, and we we ended up
(05:17):
doing the deals where you know, we officially gained the
DSO and we started with their first why they have
five practices, and so we consolidated everything and then we
did that again like and by six months, by the end.
Speaker 2 (05:33):
Of twenty nineteen, we had twelve locations. I read the
strapped the Blue Lake.
Speaker 3 (05:37):
We've strapped everything and uh, and so we had we
kind of bypassed this like this like bunk on the
road that most DSOs went through was like you know,
like acquiring and raising money, trying to it to the
twelve location and we did it in my six months
(05:58):
and it and so yeah, so is it just that
you guys had mastered the fact that these people were inefficient?
Speaker 2 (06:04):
You found the way to make it more efficient.
Speaker 3 (06:07):
And that was what the real charm was, because you
were able to make them so much more profitable that
it made sense to them to bring you on as
partners are selling their business. Yeah, yeah, so what what
we what we realized was you know, again going back
to like that certain ties of uh like harder that
we wanted to go after all these other models were
(06:29):
like going in and acquiring like one hundred percent and
then trying to like collected there's a miss and then
like they were rolling it up.
Speaker 2 (06:34):
And were to sound it.
Speaker 3 (06:35):
And the problem that we saw with everybody was like
they're all complaining of this massive web turnover eight and
they couldn't keep dentists like happy forever else. You know,
I'm like they are doctors, you know, like they're they're
kind of a hard person out, you know, like make
a lot of money, like how you know, they're not
Judge Kin's Tree is an employee. And so we're like,
(06:57):
the we gotta we gotta come up with like a
partner central to approach.
Speaker 2 (07:01):
And so we we really like we took we actually took.
Speaker 3 (07:05):
Like months trying to figure this out of what would
be a win win wing, like not just a win
for us some in for them, but like a wing
for the practice and the patients.
Speaker 2 (07:16):
And I think, like, I mean, you have to think
about that in business.
Speaker 3 (07:19):
Right, like if you have a bought art and you
see and you and you come up with a product,
but seek them a product out there, like if the
end user isn't happy, you got a problem, right, And
so we were we were like looking for a specific
tide of you know, dentists, uh and and those were
the guys that we had kind of worked with in
(07:41):
the past, which was like, you know they were they
were kind of like the dentist baller and the dentists callers.
Speaker 2 (07:48):
Like in there. You know, they've been around for a
while and they give reputation.
Speaker 3 (07:52):
And so we were like, yeah, these are our guys.
But what we didn't realize were like those guys didn't
want to sell to a DS up like DSR was
like kind of a it was a swear word, and
so we're like.
Speaker 2 (08:05):
He did, you know? So we had to like really
think about, Okay, why would they.
Speaker 3 (08:09):
Want why would they say yes to our day? And
so we came up with this partner like approach where
we would, you know, we would buy a portion of
their business sixty seventy percent, they would retain and then
you would it were essentially growth partners. So we came
in and we would you know, they still had their economy,
they would still run their business, they would still hire
(08:32):
fired their employees, and still run the backed office, CIRTA managers,
everything like remains Sam. We didn't change the DNA of
their business. We stadded fuel to like what they were
already doing, and it did it to buff like twenty nineteen.
June of twenty nineteen we started and we sold to
(08:53):
H Steve Youngsbrew in the end of twenty two. That's
a crazy amount of growth every years. What I love
about your story, though, couple of things. Number one is
you know and when I was at Killer Williams, our
model for our company was win win or no deal.
Speaker 2 (09:07):
And I truly believe that. I always said to my
partner in real estate.
Speaker 3 (09:10):
I said, Hey, as long as everybody in the transaction
knows everything they need to know to make the best decision,
that we're going to be in an integrity with our
clients and they're going to be happy of this.
Speaker 2 (09:20):
And so that was so important to me. There was
like win win or no deal. Right.
Speaker 3 (09:24):
And the second thing that you said is, you know,
I interviewed another billionaire on my podcast several years ago
and he said, the secret to building a really sexy
business is find something that's not sexy or inefficient, and
you learn how to make it sexy.
Speaker 2 (09:38):
Learn how to make an offer.
Speaker 3 (09:39):
I always say, and if whether it's dating or business
or whatever, you got to know what you can get
a yes to, right. And so you took this opportunity
with these guys and said, Okay, what would they want
to do?
Speaker 2 (09:48):
What would make this attractive to them? I always like,
you know, if you're asking out one.
Speaker 3 (09:52):
Of the prettiest girls in school, well you'd better make
sure you got a front date plane or that's probably
gonna get a no, yeah out.
Speaker 2 (09:58):
And so it's kind of the same thing with business.
Speaker 3 (10:00):
It's like, if you're going to approach these people have
an offer that really is attracted to them, and it's
your job to figure out what that is.
Speaker 2 (10:07):
And I think what you did so well is you took.
Speaker 3 (10:09):
This experience that you had all these years being in
the dental business.
Speaker 2 (10:13):
So you kind of had that expertise.
Speaker 3 (10:15):
I think a lot of people get frustrated because they
feel like maybe they're just in a job or they
don't really you know, see this becoming some giant thing.
Speaker 2 (10:22):
But I love what I love about your story is
you took that lead and because of all that experience.
Speaker 3 (10:28):
You did this in three years, but you were able
look at up for years because of what you did
the previous fifteen learning the ins and outset.
Speaker 2 (10:34):
Of your trade. Yeah, and like so what'splaining about that
is like when we when we.
Speaker 3 (10:42):
Acquired our first you know of practices, like I had
never actually been like behind the desk of the dowl Braggs,
like I was always you know, we were always selling
to like the owners, like the dentists that owned the practice.
Speaker 2 (10:58):
Now because it was either like saw where we were
trying to you know, do other things. We're just we'resels.
Speaker 3 (11:04):
But when we when I when I found myself like
face to face with the office manager and then just
literally looking at us like blanks there, like what do
you know about dentil?
Speaker 2 (11:14):
How are you gonna help? I would dude. It was
I was like, yeah, it's like what do we do?
Speaker 3 (11:21):
Like I'm not I don't know dental, Like I don't
have a dental but I didn't have a dental back er.
Speaker 2 (11:25):
I had a sales.
Speaker 3 (11:26):
Marketing like every yehs, every game, this is just a
salesperson anyway, right, yeah, you got nine cowties.
Speaker 2 (11:32):
I'm like, oh, okay, I should fry thettle chapters. Well yeah,
we got to put a crown on everyone this. Yeah, okay,
we trust you. I can't see my with you, Kenna. Yeah.
Speaker 3 (11:42):
But like I you know, so there was this kind
of like a there was like this weird thing, like
this weird like phase we went through early on where
we we tried Like I was like I was upseiting
my dental books like and then I caught myself like
why am I doing this? I'm like, they're actually not
(12:04):
pardering with me because I know dentistry. Like I'm not
shomp at him to like freaking feel you know, do
a filling or something. And so that like that was
pivotal for me because that like for for me and
my partner, like we we were going in saying, look
(12:24):
like we made we made it as sprang wars right, well,
like we're better together, Like we know how to grow businesses,
we know how to do with sales, we know how
to market, we know how to come in and make
your practice more efficient.
Speaker 2 (12:39):
Did you have to approach the dentists in a way
that they were receptive to that? Because that's tough for
people that are successful in what they do. They do
have degrees, they have big egos, they're making a lot
of money. A lot of money is coming in the door.
You know, how did you approach that in.
Speaker 3 (12:54):
Such a way that they were open and receptive to
be taking advice for you know, us sales there?
Speaker 2 (12:59):
Yeah, why why does anybody like in this room join
Lott right?
Speaker 3 (13:06):
It's it's it's a community approach. Like all these guys
are smart, Like most of them guys listening to your podcasts,
they're smart.
Speaker 2 (13:16):
Why do they listen?
Speaker 3 (13:18):
Because they want to know they they probably know what
they they don't know what they don't know, right, and they.
Speaker 2 (13:26):
Know that they know all that they know.
Speaker 3 (13:27):
Smart people know that there's things they don't know right right,
there's like most people are unaware of what they don't
know and they don't even think they need to know
anything else. Yeah, but when you get to that next
level of awareness, it's like, oh, now I'm aware that
I'm unaware, and that's where.
Speaker 2 (13:41):
You could really make some shell harm percent. So we
were we were like now I'm talking like none of
these guys really had ever benefits because.
Speaker 3 (13:52):
Like they just they never said like yes to any
mes with any corporate because like selling the corporate which
was like Dso's like it was like made you're selling
the big box, like they're gonna control you, right, Our
pits was like completely differre like no, like what you know,
(14:13):
we we kind of got to the emotional uh you
know status of where they were like we would sit
down and have let the dammer with them in their
wives and be like, you know, I think it's actually
kind of bunny.
Speaker 2 (14:26):
Because we're like, you know, like, where are you guys struggling?
Speaker 3 (14:30):
Awares that No, I go like, wor we're profitable, we're
doing this and this, And his wife's like look and
ask like.
Speaker 2 (14:36):
Who's this guy? Like he's sitting there tone like and
so we were kind of get the sword from our wife,
like we're stressed. They're on an island. They need help.
Speaker 3 (14:46):
They don't know how successful they actually are. They know
they're making a ton of money, but they they know
they have more fuel in the tank.
Speaker 2 (14:52):
They they need partners to push arder.
Speaker 3 (14:57):
They need goals, They need to know where they're going,
because do how manon is what like would be just
come in and sit down and densture every single day
and like.
Speaker 2 (15:08):
You know, be just controlled by it well.
Speaker 3 (15:11):
And that these people will spend so much time whether
it's school or learning a trade or even in the
hours where they're working, to make money and to learn
how to make money, but.
Speaker 5 (15:21):
So few people This is one of the biggest things
I've learned is I've kind of gone a little bit older,
is they take they spend so little time learning how
to keep it, how to you know, extend that money
once it becomes in the door.
Speaker 3 (15:31):
And so so many people they make more money, make
more money, but they don't ever really have more money.
Speaker 2 (15:36):
And so for every hour you're spending on making money,
you should.
Speaker 3 (15:40):
Spend an hour on how to save it, how to
invest it, how to make your business more efficient?
Speaker 2 (15:45):
Most people.
Speaker 3 (15:46):
It causes pain to look at budgets. It causes pain
to see where you're leaking, right. I wrote about this
on my book b One, where uh it's called leaking energy.
You're just leaking money. You don't even know where, and
you don't even want to look at it.
Speaker 2 (15:57):
You're just like better if I just don't pay attention
to it. But challenge everybody here to like dial that in,
like go look like where is the money going away?
Speaker 3 (16:04):
I remember when I first started in real estate, I'd
never really done a budget or anything before.
Speaker 2 (16:09):
I was making good money. I my rookie year, I
sold sixty homes and so I had a ton of
money coming in the door, and I remember I just
I was broke, you know, what, what the hell's going on? Like,
how do I have any money? Pers it?
Speaker 3 (16:19):
Yo?
Speaker 6 (16:19):
Yes?
Speaker 3 (16:19):
And I remember I hired an account for the first
time and he asked me a bookkeeper whatever, And he said,
how much money do you think you're spending him up?
And I said I would guess eight thousand or I
don't know, seven eight thousand, and he goes twenty two thousand.
Speaker 2 (16:30):
I was off by that far. I was triple what
I thought I was spending.
Speaker 3 (16:33):
He's like, you didn't count when he spent twenty grand
here hiring this coach for twelve grand here for whatever
doubt payment on your car or what. And it was
like so eye opening to me. I was so far
off of how much money I thought I was making.
And that was the first you know, a gift that
I got early on is the real estate market collapsed.
And I'll be honest, like I had uploaded, I had
bladed salaries. I had people that were just doing things
(16:55):
in the office. And when the market collapses, you don't
have any you don't have any choice with there.
Speaker 2 (17:02):
When the market collapses, you don't really have any choice.
Speaker 3 (17:04):
You have to start finding out where the money's leaky
because you don't have enough coming in.
Speaker 2 (17:08):
And so I got this chance.
Speaker 3 (17:09):
I got down to like thirty two hundred bucks a
month that I was spending back then, you know, And
it was the reason I survived is because you have
to get lean and me it's like every single thing
that's not bringing dollars in the door gone.
Speaker 2 (17:20):
But most Dennis, most rilters.
Speaker 3 (17:23):
Most of whatever profession, they don't spend the time to
really dial in their business. And so I can see
how partnering with somebody that's just like we're gonna take
this for you because people suck, I was said, honest,
and make it be us more efficient.
Speaker 2 (17:33):
Well, and to that point, like who wants.
Speaker 3 (17:36):
To like finish a full day no matter what it is,
and then like have to go do all the admin
for your entire business? Lookie like opening mail one of
your good at sales, you said I could admin stuff,
right a techanician, You're just you're you've exhausted that part
of your brain by the time it comes to doing
the account or and.
Speaker 2 (17:54):
And like you know this, like it's so hard to
work in your business and on your business.
Speaker 3 (18:00):
Like you really have to like you have to carve
that time out to actually do that because otherwise you're
just under oar. Like I mean, you're you're just making
the money or whatever. But like you know, we would
we would come in and be that that side of it,
and it really resonated with good guys. They were like, look,
you're right, dude, I've been filming forever.
Speaker 2 (18:22):
Like I know, I'm taxed, like I'm every hour of
the day, every minute of the day.
Speaker 3 (18:27):
Is like full, Like I can't get any busy and
then me trying and be like yeah, yeah, and you
got to do this before you do that, before you
do that, and I you know, then then it was
like second Lokay shoot or location. Now we're now we're
building out, you know, more operatories, and I mean they
would just see light all sorts of growth and so
(18:49):
you know, for us, that was that was our that
was our site, you know. And going back to like
we knew business they did and then and like maybe
they were vidiego school to business guys, but they did.
Speaker 2 (19:04):
How did you learn business at that level? I went
to UBU right yeah, like front of Lumro and then
dropped out.
Speaker 3 (19:12):
All those buy you kids that left notes on my
car and I saw my sticker, learned how to park asshole.
Speaker 2 (19:17):
I did see a Ubu for like a word. I
think I got my users to graduate.
Speaker 3 (19:21):
I'm seeing graduate around near by and graduate college. I'm
actually I'm actually proud of that. I was in Cousing
College one day and I remember I'm like sitting there
and I didn't know why I had all this like
anxiety and I'm just like this this guy that's trying
to teach you business principles, drove drove whiguard fifty.
Speaker 2 (19:43):
Card, you know, like what am I yearning?
Speaker 3 (19:47):
Men? And so I I you know, my dad he
literally taught me at work like pretty much since I
could hold a hammer and I am And so that
was just read into me.
Speaker 2 (20:01):
And if I was like that, I just didn't even
know the stooling Like I didn't. It just wasn't me.
And so I had to go on like this, figure
it out.
Speaker 3 (20:09):
It has to But how do you do that? Did
you go shadow people? Did you read books? Watched utb asked? Yeah,
you know, early on, like I tried to start a
couple of my own businesses. You know, my dad was
like he had a construction company when I was like,
I don't know, nineteen twenty, started working for man, started
(20:30):
kind of being into that a little bit, and and
this week was like I could tell he wasn't like
like like he was more of a work course that
he was like the Addy's South like strategy business, business gup.
Speaker 2 (20:46):
And so I kind of it was kind of forced
me to kind of think about that, like like how
do I get out of this?
Speaker 3 (20:52):
You know, because you know, we grew up with nothing.
I knew it wasn't in the end of anything and
ever buff arm or like you know, everything I I
I had to buy, Like is there a kay to me?
Speaker 2 (21:07):
Or just work.
Speaker 3 (21:07):
I didn't really ain't enough time to really do sports
or anything like that. Like it was always second to
you know, trying to trying to make the money.
Speaker 6 (21:16):
And so.
Speaker 2 (21:18):
The business principles I kind of I learned.
Speaker 3 (21:22):
Just by doing her, which is so beautiful, right, And
it's like that's so many people they want to learn
from a book that they want to learn from YouTube, but.
Speaker 2 (21:30):
They want to read about how to do it. It's
like code, do the the go, follow on your face, take.
Speaker 3 (21:35):
Acts from your right Tony Robbins. I just saw another
post today he was counting this this on this again.
It's like the most successful people have earned one skill
taking action at my let when he's fuck in my event, and.
Speaker 2 (21:46):
The one thing he said is the most successful people
just know how to take action. And I want to
ask you.
Speaker 3 (21:51):
You said you were working for another tempo company in
twenty nineteen when you quit. I actually was doing a
walk this morning with one of.
Speaker 2 (21:57):
The guys that coach.
Speaker 3 (21:57):
He's here actually, and he's kind of been on the
whether or not he wants to quit his job and
start his own thing. And he keeps going back and
forth on this, and we've been having this conversation for
about a year. How did you know it was the
right moment to quit the job and go all in
on dentor.
Speaker 2 (22:13):
Man like that's it.
Speaker 3 (22:17):
It was the company's sole and so we basically like
the company dissolved and we were forced to like come
up with something else. And I remember, like like a
year before that happened, I was in this like being
I was in my own head just towing my like
(22:39):
I can't be I can't be running.
Speaker 2 (22:41):
At this base like as a sales guy with quotas
and stuffwork.
Speaker 3 (22:44):
I gotta Joe. I got to break gavicause I'm app
And I think it was honestly just like just be
desperate measures, Like I wanted this so bad. I wanted
to break out and not be just an employeemore that
I was a major already have a vision for how
big this could be or no we had no enough.
You were just pretend want to work for someone else.
It's all dude, like like alls, man, we don't we
(23:06):
we dream like dreams are free and you you got
a dream big. I didn't I realized I didn'tured big
enough or we probably would have sold for them in
fears I'd my Jake, but I didn't. I remember dream
big later in life with what key mentors that came
in my life or fop you to send those guys
and and that upe that.
Speaker 2 (23:27):
I like believe my brain.
Speaker 3 (23:28):
Like I always said, I could never start a billion
dollar company because I've always selled a one hundred million
I just would I don't know accur actually, And.
Speaker 2 (23:36):
So we started. We started.
Speaker 3 (23:39):
We were like I told you we had we had
tour locations in like six months and we met. We
met a private eparty guy on the clane and he
like within a week or so talking to us like
we didn't actually know at that time. We were just
too naive to know, Like we were kind of being
like egiligency just private equity again. And he's like on
my phone with us, like ask he I'm like pulling
(24:00):
up our soft and then all of a sudden he's like,
you know, uh, we want what offer you guy? Do
you want to buy our business?
Speaker 2 (24:10):
We're like what?
Speaker 3 (24:10):
And there was a check on the table, dude, like
there was an off one after six months and like
it was like yeah, like seven months. I think yeah,
seven eight months, and I remember going like whoa, Like
we made it, Like this is like this is more
than what we wanted to make per year.
Speaker 2 (24:31):
Like we didn't even have hundreds of millions in our
minds at that time. Like we literally started dent to.
Speaker 3 (24:39):
To like by like five et ten ten practices some
Connageble and just live up you know, the like you know,
one two million, bbada, and and so we were like
like it actually made us sit in there and think
about this check.
Speaker 2 (24:57):
We're like, d should we take to some you know,
We're like, oh, dude, we can't. And like we actually
like made my pardon phone. We just were like, no, dude,
we can't.
Speaker 3 (25:06):
So we talked and then to actually do it a
dead deal because he wanted to learn kind of the
industry because like dental will ups at that time, I
feet pretty hot, so he was this guy was this
guy was smart. He's like I want to I want
to learn coop you guys. So like he actually took
the dead deal. It us twenty one day and we
and then Covid Beverdy gave you twenty million.
Speaker 2 (25:28):
To buy their practices. Basically and at what valuation at
that point, Oh dude, I don't. I'm we didn't have valuation,
just bro. We were Yeah, it's just like I'm I'm
in debt and uh, well frollahead.
Speaker 3 (25:44):
I mean it was looking back like the craziest favor
wittle toms for that, Like it is like error, it
was mone where its annalogy you guys you met.
Speaker 2 (25:52):
Oh but we but we like we spent that I
fat in like it. We kind of held on and.
Speaker 3 (25:59):
Then cooked like COVID with TEPO and we the refou
were den wir and that's another nine hour conversation.
Speaker 2 (26:06):
But like we be.
Speaker 3 (26:07):
Literally turned from like looking at building a business with
summer firing practices to what the hell are we going
to do day by day to like like COVID shutting
all of our practices.
Speaker 2 (26:21):
Down, I mean or like total nightgrad. We were four
states at that point and.
Speaker 3 (26:28):
Like Washington was crazy or was crazy, Texas and school
and Utah was was pretty cool. So we were able
to kind of manage you get through it. But like dude,
I just remember, like I mean, as an entrepreneur, you know,
like you you literally just figured it out. Yeah, like
(26:50):
bay bye, like whatever comes up You're just like, Okay,
I am a COVID expert in this state now, and
I'm getting on all the freaking government we sides.
Speaker 2 (26:58):
That was imagine. It was oh, chat, you can tea
like that, and they add you I had.
Speaker 3 (27:05):
To actually call our trees and our attorneys helped us
every single day do so we started just jumping money
into attorney piece because those guys are smarting us.
Speaker 2 (27:14):
And they were.
Speaker 3 (27:14):
They were helping us find out all this codes in
different ways to like navigate how to keep our practices
open and whatever else. And so he is a nigron
and then we ended up buying it. The update practice
sent all spent aline light. Were you able to pull
in a lot of other businesses because of COVID and
it like they devalued essentially what they sold to you
for no actually.
Speaker 2 (27:34):
What COVID did.
Speaker 3 (27:36):
It was interesting because we had talked to a lot
of different practices, right and at the time they're like nah,
We're like we're good, be don't sell.
Speaker 2 (27:45):
And they cod with it and then they're like, you.
Speaker 3 (27:47):
Guys help like with all the courtant like dat our
stuff and furlowing like Ecois you'll pay Emploise well like
we're shut down two easy like yeah, well you know,
but they're seeing other bsls and the benefit of that.
Speaker 2 (27:59):
So there was like this hybrid approach and.
Speaker 3 (28:01):
Everyone found out that like we with a hybrid approach,
like we can actually help you through these these times.
Speaker 2 (28:07):
And so we actually I don't been takeing.
Speaker 3 (28:10):
It's funny because a lot of times the thing that
we're cursing, right, I think that we're most upset about,
ended up becoming this huge gift. And COVID was that
in so many lays. It was such an eye opener
for me because if there's.
Speaker 2 (28:21):
Anything about me that it's like I was not built
for a COVID world.
Speaker 3 (28:24):
Like I love to travel, I love to get together,
I love to be out. I hate tyranny, I hate
people tell me what to do, and so like all
the things that COVID was. And so the first like
three months, I remember just kicking and screaming, and I
was going nuts and saying things that I would regret
later on my social media and and but then.
Speaker 2 (28:41):
All of a sudden, I had a buddy sets up. Yeah,
and I was bright on all of it, but that's
besides the point. But the buddy said something.
Speaker 3 (28:48):
To me, he said, being truly a piece Jimmy is,
he said, accepting everything as it is and not wishing
it was any different.
Speaker 2 (28:56):
And it changed my world.
Speaker 3 (28:57):
I was like, damn, it's so good, not wishing it
was any difference. I says, Okay, how can I take
advantage of COVID? And I'll be honest, like I was
never going to slow down in my real estate world.
The world literally had to slow down for me to
take up right. And what it did was it showed
me that, like, maybe there's something else I want to do.
And there would have never been a weird of day
without COVID. I'm sure that it just would. I would
(29:17):
have never even fought.
Speaker 6 (29:19):
To do it.
Speaker 3 (29:19):
Yeah.
Speaker 2 (29:19):
Man, it's funny.
Speaker 3 (29:20):
All lot of stuff kind of come together like as
you look back, you know, but like when you're in it,
you don't see you don't see those skedas connect and
now like it's it's you know, And when you're navigating,
it's like do you every like you're you're.
Speaker 2 (29:33):
Operating, you fear at that point, like how is this
going to work?
Speaker 3 (29:36):
What's tomorrow could be? Like what do they do for
your trophy tomorrow? Like yeah, it was crazy, so I
think with.
Speaker 2 (29:42):
Somewhere, I didn't want to go with the conversation.
Speaker 3 (29:43):
I mean, everybody wants to know what financial freedom feels.
I right, it's one of those things that we're all
chasing all the time. It's why we wake up and
go to work and all these other things. How much
did your life change that day when the money finally
hit your account and you're like, oh shit, I'm like
crazy rich.
Speaker 2 (30:00):
See that's funny seas uh so like one, I remember
like it was the day before.
Speaker 3 (30:08):
It was the twenty third of December, so like dudes,
the day before Christmas. I had then and a bullets
like not all but about a year, and you know,
was finally home. We had disposing call. It was like
literally like four fifty pm at night. You know they
(30:31):
wait to the last freaking minute of the of the
year pretty much, and you know we're on the flight,
eight people on the sea call, and I remember like
everyone kind of signing off and everything going like black
or whatever. And then it was like me and my
partner and then like our attorney and we're just like
(30:56):
all right, Merry Christmas, guests done and I I just
closed the laptop and it just felt you know, hundreds
of millions of dollars of debt just like sore out
my shoes and I was like, stood the deep breath
(31:16):
and uh it was super antipical.
Speaker 2 (31:19):
Melboe what did the bank account like? And I was
like and then I was like, I mean I get
I stopped bock Christmas present. I was like, what did
we get arcades for Christmas? Secure?
Speaker 3 (31:37):
My sticers had no idea. I think I slept all
the way for christmasse It was just it was it
was crazy at times, but like so grave they for that,
Like I think after uh, you know, for me, we
were so heads down, I had I had zero up,
Like I didn't have the luxury to actually think about
(31:59):
what all the money meant. And you know, the one
good that I think I did was take a little
bit of time out of the sales process to like
you know, did get a family office.
Speaker 2 (32:10):
The solid very well there in the hive, and those
guys were able to just like threw this like.
Speaker 3 (32:15):
It's like you know when when you're in the middle
of it, it's all it's all like you close and.
Speaker 2 (32:22):
You know that there's like not another day, like due diligence.
Speaker 3 (32:25):
Really the worse like it's like growing just like a
green egg, you know, just you're just in these days
and then there's all these all these questions of what
to do with the wre and it almost becomes like,
you know, you'd never developed money, Like I had never
developed money at that revel and I was almost just
(32:48):
like I'm gonna fold offer what the brew to do,
Like I don't want making dumb decisions.
Speaker 2 (32:53):
We bought a jet, well you did. You didn't hold
off very long.
Speaker 3 (32:58):
I means the dost decision we could have made you do,
we made. I have a small exo for my company
about twenty twenty, about the same time in December, and
I remember that I about like sixty thousand dollars worth
of boxes of baseball cards.
Speaker 2 (33:12):
Like what am I doing? You know?
Speaker 3 (33:13):
Yeah, it was like the dumbest thing. I should have
bought a jet, and I should have bought it. Yeah no, dude,
not the jet that cost you. It's the fuel, the
two bias ever seat, Yuh, it's storing at the bank.
Speaker 2 (33:24):
Random. Yeah.
Speaker 3 (33:25):
No, I mean this like it's been it's been a
cool thing. Actually I sold it to we sold it
out for like a year and a half or something.
But because I actually the business and so it wasn't
renew you weren't traveling as much whatever saw I did
see it.
Speaker 2 (33:42):
I was trying to be responsible. Let's good, Uh kept
some hours.
Speaker 3 (33:47):
So I still point out there, Yeah, I mean finance
freaking like for me, uh, you know you hear you
hear this like all the time. You know, like money's
like the money's a magnifier, like though who you are.
If you get a law it and you're good to
you like you can do good things if you're enable,
like you're going to be a bigger able and and
(34:08):
I I really do believe that.
Speaker 2 (34:10):
And like for me, it was it was more of
an opportunity to like to get back and I I've
literally been blessed like I you know, money has.
Speaker 3 (34:21):
Opened up opportunities to be able to like, don't do
things I haven't been able to do, open up you know,
opportunities to ways to to you know, network with other
other like like minded guys. They're kind of in that
same situation. And it's it's really elevated the way that
I my fate and you know, after after we reclose
(34:45):
and and stay it on for my happy year and
when I exited the company. That's why you might That's
when it was all right, dude, it didn't matter how
much money you have a data after identity press, that's
it was weird.
Speaker 2 (34:59):
And so it was a tough to figure out purpose
and what you do or left every day in that phone.
Speaker 3 (35:03):
Yeah, like you go, wait a thousand miles prebo, like
your phone's blown up every day.
Speaker 2 (35:09):
You're like a glorified firefighter.
Speaker 3 (35:12):
And I was putting the fire's obviously a day to
like radio science and I and I just like, at
first it was cool.
Speaker 2 (35:19):
I was like, hey, man, I got freedom.
Speaker 6 (35:20):
You know.
Speaker 2 (35:21):
That's when I picked up golf.
Speaker 3 (35:24):
And I mean that I'm an addict now and I'm
I'm a little better, but I still pee and we'll
be game. But that got me out of the house.
I was like I did dress like eat golf stock
and I break and go into work just like.
Speaker 2 (35:41):
See your bed did the geests di? I just like
because the golf coardy, and was like damn, like what
am I doing to there? Like so golf? What's think golf?
Did I just play golf? And then it's literally tried
to out like what to do.
Speaker 3 (35:55):
But I got to a point where I was like
all right, no, like this is this is actually like bothering,
like who I Amory?
Speaker 2 (36:04):
Like what do I do? Because you know you hear
about that all the time and and I I didn't
really believe that that happened to me until it did.
And then I found myself like question she these like
did I really? Did I really have an exit? Cumping?
Did I really do that? Was that really success? Like
(36:26):
was everybody? Was that just like a one off?
Speaker 3 (36:29):
Right?
Speaker 2 (36:29):
Like it's it's a real thing, Like you're like, dude,
did I just get like super lucky? Am I just
like an idiot? Like what's happening? And uh? And so
I I kind of do to see where I sat
down and wore down like every title that I that I.
Speaker 3 (36:45):
Helped my father like am I you know, I'm I'm
an investor, I'm let they're bothered, you.
Speaker 6 (36:55):
Know, love it my son, I'm an unful I'm did
all this stuff, every title of a hell And I
just I kind of wrote down like a description of
much aren't and the way that like would be by
something like honorable and.
Speaker 2 (37:12):
Like that exercise with me stamp me out of it.
And so when people when people would be like what
do you do now, and I would like the.
Speaker 3 (37:22):
I you know, if I got just sitther and pause,
I could then you know, go into like those things
that I wrote down. I was like, you, no, don'ly
the super data and no, i'ms sometimes my kids, Well,
what's interesting?
Speaker 2 (37:33):
How like society? It's mostly an American thing, but when
people say, like what do you do? They always refer
how you make money everywhere else in the world and
they don't do that. It's like, oh, I don't know,
I go skiing, I enjoy you know whatever, reading or whatever.
Speaker 3 (37:46):
In America, we immediately people want to know what you
do to make money and it can be a little
bit of our identity sometimes if we.
Speaker 2 (37:53):
Don't watch it and really watch for that. Yeah, I
would agree and like that. It wasn't until I had
money and uh, Bill eyes that that isn't your ident
you know what I mean?
Speaker 3 (38:10):
And so, uh, that's what I had to figure out,
Like who do I, yeah, like to do? What kind
of hustin do I want to be right now? Like
and then you know, if I do invest, like what
kind of investy do.
Speaker 2 (38:23):
I want to be? About? What skills? What value could
I bring to this business?
Speaker 3 (38:28):
Why would they want you know, me as an investor
or me as a part as a partner, and and
so that you know, that's kind of where I'm at now.
And I've got five or six you know, businesses I
spend time on, you know, working every day. I've got
great partners, great operators, and it's it's super fun right now,
(38:51):
I bet Well, well, the last question will get in there.
I want to take some questions from the audience. But
what's the best part about having the money and the
worst part about that money? Now?
Speaker 2 (39:00):
Well, I mean the best part, I mean yeah, just
the slow dumb at it just well, dude, parademic's the
wrong answer. Yeah, that's so why not to them? It's
(39:21):
got story kings at us. I mean yeah, like the
best part is just you.
Speaker 3 (39:26):
Know, honestly, I've I've had more more fun and I've
had more fulfillment honestly helping other people, like just the
ability of being able to get back when I can,
like you know, different charities and things like that, and
then just helping those in need.
Speaker 2 (39:46):
But just around like I really would like live where you're.
Speaker 3 (39:49):
Sad, you know, like neighbors people that I just I've
come across, you know, I just I love, marining their stories,
learning you know, uh, how to.
Speaker 2 (39:58):
How to, how to help.
Speaker 3 (39:59):
I quote that I came out put several years ago
and I actually drank covid.
Speaker 2 (40:02):
I said, is I said, if you don't think money
can buy happiness, you haven't good about enough of it away.
It's true. That's the only way I've ever found happiness
through money.
Speaker 3 (40:09):
Yeahna, but that that is that's a I mean, it's
really it's the only thing, like you can help somebody
like each still good and the worst car what's the
worst part?
Speaker 2 (40:21):
Well, the worst part is just.
Speaker 3 (40:24):
Uh, when I have tuned my obvious and so like
I had to govern myself my life's site where you
back like the last.
Speaker 2 (40:34):
It's a day.
Speaker 3 (40:36):
Uh, I can no duties down. But that's probably the worst.
But I mean the worst too is like you know
you fear you fear your kids. We're kind of getting titled,
like I have amazing kids and uh you know we
we we do a good job with them or they're
all they're all awesome and I but you know you
(40:58):
worry about that you rest degenerate ep Rick Diver.
Speaker 2 (41:01):
Yeah, you guys, let's give it up for Austin.
Speaker 1 (41:06):
Thank you again for listening to the Jimmy Rex Show
and if you liked what you heard, please like and subscribe.
It really helps me to get better guests, to be
able to get the type of people on this podcast.
Speaker 2 (41:16):
It's going to make it the most interesting.
Speaker 1 (41:18):
Also, want to tell everybody about my podcast studio, The
Rookery Studios, now available in Salt Lake City and or
in Utah. If you live in Utah and want to
produce your own podcasts, we take all of the guests,
work out of it for you and make it so simple.
Speaker 2 (41:33):
All you do is you come in, you sit down,
you talk and leave. We record it, edit it, even
post it for you.
Speaker 1 (41:40):
If interested in doing your own podcast, visit our Instagram
and send us a DM Rookery Studios or go to
our website, The Rookery Studios dot com
Hello, and welcome to a special live edition of our
podcast here on the Jimmy Rex Show. This is another
one of our live podcasts. We do this every single month,
once a month. It's an event that we have created
here in Utah where we get a live guest and
we do a podcast and then you're listening to it
now obviously recorded, but if you're interested in coming to
these live podcasts, we will share at the end of
the episode how you can be there in person. Free,
(00:23):
also provide dinner. Just a really cool networking event we
do for our Weird that Day members. But today's guest
is a special one is Austin McFee and he is
the co founder of Dentive and they sold that company
to a firm a couple of years ago in twenty
twenty two for over five hundred million dollars. And so
we talk all about the process, how he came from
(00:43):
just a poor background with no money and built himself
into you know where he's flying on his jet just
for fun to go golf and now if he wants to.
So this was a podcast I was excited to do.
The audio again, is a little bit different than you
might be used to. This because it was again filmed
at a live event, but also very good. So with
that we will get to our sponsor and to the
show in today's podcast, like all of our podcast is
(01:04):
brought to you by Bucked Up Protein. These are the
drinks that I have been using as my go to
as I prepped for a fitness show at the end
of the year, and they help a lot. One hundred
calories twenty five grams of protein. I had a buddy
asked me recently how I get so much protein in
And honestly, two of these a day goes a long
ways to making it happen.
Speaker 2 (01:21):
So you can pick those up anywhere Bucked Up products
are sold.
Speaker 1 (01:24):
Now let's get to the show.
Speaker 2 (01:34):
All right, your first Larson, I've doubt for you. I
just want to know, like, prior to getting into.
Speaker 3 (01:38):
This, I think so many people have ideas in life,
and I want they hear your story. Go like this
kind of sold this company for half a billion dollars.
Where does that journey even start? Like what's that first step?
Speaker 2 (01:47):
When did it? When did this stay for you? They
ultimately begin dentsive. Yeah, so well I was listening to you.
I gotta like.
Speaker 3 (01:58):
Correct, you didn't maximize your ear potential or your a
for exad a fair amound.
Speaker 2 (02:03):
I mean, what do you did it? Like?
Speaker 3 (02:06):
I think?
Speaker 2 (02:06):
I think, I mean, I truly believe this too.
Speaker 3 (02:10):
The the guys that are running the biggest companies in
the world are not the smartest.
Speaker 2 (02:16):
They're just the most consortive and like, you know, for.
Speaker 3 (02:22):
So let's kind of go into that. Like twenty nineteen,
we had we had just my partner and I at
that time, we just left a tech company in dental
we had worked, and another but that was a second
in the dental copy we'd worked and one was like
more of a like an education institution, and then there
(02:45):
the one up until twenty nineteen, it was a tech hub.
Speaker 2 (02:49):
So we left that that got sold off, and.
Speaker 3 (02:51):
Then we kind of started dentis as like a our consultant,
Like you're a consultists. We were reaching out the dentist,
but we knew the subset of like entrepreneurial dentists that
we knew would be like the clients like that resonated
with us. They were smarter, kind of like more progressive
investing themselves, investing their business, and so we're like, these
(03:15):
are our guys, you know, So we started making phone
calls and about six months intil we realized, like dude,
we're going through E and LS and actually making a
big impact of more of an INTAGTM methought wasn't it
wasn't like it wasn't crazy SATs like, it wasn't super hard.
We were just lucky literally what they were spending, what
(03:35):
was coming in and we were just making efficiencies right
in there right like it just threally just dialing this
up kicking app. And so the we were kind of like, man,
you know, like in our previous like company, we had
had some of these DSOs what they're called kind of
support organizations, and essentially all that means is they own
(03:57):
a bunch of business that happened to be down practices
and then they put you know, they put all the
back end admin behind it with two like you run app.
And you could think of it as like a like
I kind of thought about it that kind was like
a franchise.
Speaker 2 (04:12):
Models.
Speaker 3 (04:13):
There were so many different models, like we said, old
famous kind of facehia and now but like we've seen
one dso you've seeing one DSR because they're all.
Speaker 2 (04:19):
Like they're all bull this.
Speaker 4 (04:22):
But we we were there like inboard rings in that
previous company, just like a sales guys seed there, like
listening to their call beings, and we realized these these
like CEOs.
Speaker 3 (04:36):
And cmos and people running these like five hundred plus
you know location but just as like they were so
far removed from the actual patient activity and practice and
like the relationship with the doctor, which is kind of
like essential, right, that's kind of like glow like the
(04:56):
business wherever the revenue is coming in, right, So they
were just like trying to figure every thing out. Anyway,
we were like six months into consulting. We were like, dude,
we should own demo prizes and just do this with
our army dental crisis. And so we approached two of
our clients there were brothers, and we we ended up
(05:17):
doing the deals where you know, we officially gained the
DSO and we started with their first why they have
five practices, and so we consolidated everything and then we
did that again like and by six months, by the end.
Speaker 2 (05:33):
Of twenty nineteen, we had twelve locations. I read the
strapped the Blue Lake.
Speaker 3 (05:37):
We've strapped everything and uh, and so we had we
kind of bypassed this like this like bunk on the
road that most DSOs went through was like you know,
like acquiring and raising money, trying to it to the
twelve location and we did it in my six months
(05:58):
and it and so yeah, so is it just that
you guys had mastered the fact that these people were inefficient?
Speaker 2 (06:04):
You found the way to make it more efficient.
Speaker 3 (06:07):
And that was what the real charm was, because you
were able to make them so much more profitable that
it made sense to them to bring you on as
partners are selling their business. Yeah, yeah, so what what
we what we realized was you know, again going back
to like that certain ties of uh like harder that
we wanted to go after all these other models were
(06:29):
like going in and acquiring like one hundred percent and
then trying to like collected there's a miss and then
like they were rolling it up.
Speaker 2 (06:34):
And were to sound it.
Speaker 3 (06:35):
And the problem that we saw with everybody was like
they're all complaining of this massive web turnover eight and
they couldn't keep dentists like happy forever else. You know,
I'm like they are doctors, you know, like they're they're
kind of a hard person out, you know, like make
a lot of money, like how you know, they're not
Judge Kin's Tree is an employee. And so we're like,
(06:57):
the we gotta we gotta come up with like a
partner central to approach.
Speaker 2 (07:01):
And so we we really like we took we actually took.
Speaker 3 (07:05):
Like months trying to figure this out of what would
be a win win wing, like not just a win
for us some in for them, but like a wing
for the practice and the patients.
Speaker 2 (07:16):
And I think, like, I mean, you have to think
about that in business.
Speaker 3 (07:19):
Right, like if you have a bought art and you
see and you and you come up with a product,
but seek them a product out there, like if the
end user isn't happy, you got a problem, right, And
so we were we were like looking for a specific
tide of you know, dentists, uh and and those were
the guys that we had kind of worked with in
(07:41):
the past, which was like, you know they were they
were kind of like the dentist baller and the dentists callers.
Speaker 2 (07:48):
Like in there. You know, they've been around for a
while and they give reputation.
Speaker 3 (07:52):
And so we were like, yeah, these are our guys.
But what we didn't realize were like those guys didn't
want to sell to a DS up like DSR was
like kind of a it was a swear word, and
so we're like.
Speaker 2 (08:05):
He did, you know? So we had to like really
think about, Okay, why would they.
Speaker 3 (08:09):
Want why would they say yes to our day? And
so we came up with this partner like approach where
we would, you know, we would buy a portion of
their business sixty seventy percent, they would retain and then
you would it were essentially growth partners. So we came
in and we would you know, they still had their economy,
they would still run their business, they would still hire
(08:32):
fired their employees, and still run the backed office, CIRTA managers,
everything like remains Sam. We didn't change the DNA of
their business. We stadded fuel to like what they were
already doing, and it did it to buff like twenty nineteen.
June of twenty nineteen we started and we sold to
(08:53):
H Steve Youngsbrew in the end of twenty two. That's
a crazy amount of growth every years. What I love
about your story, though, couple of things. Number one is
you know and when I was at Killer Williams, our
model for our company was win win or no deal.
Speaker 2 (09:07):
And I truly believe that. I always said to my
partner in real estate.
Speaker 3 (09:10):
I said, Hey, as long as everybody in the transaction
knows everything they need to know to make the best decision,
that we're going to be in an integrity with our
clients and they're going to be happy of this.
Speaker 2 (09:20):
And so that was so important to me. There was
like win win or no deal. Right.
Speaker 3 (09:24):
And the second thing that you said is, you know,
I interviewed another billionaire on my podcast several years ago
and he said, the secret to building a really sexy
business is find something that's not sexy or inefficient, and
you learn how to make it sexy.
Speaker 2 (09:38):
Learn how to make an offer.
Speaker 3 (09:39):
I always say, and if whether it's dating or business
or whatever, you got to know what you can get
a yes to, right. And so you took this opportunity
with these guys and said, Okay, what would they want
to do?
Speaker 2 (09:48):
What would make this attractive to them? I always like,
you know, if you're asking out one.
Speaker 3 (09:52):
Of the prettiest girls in school, well you'd better make
sure you got a front date plane or that's probably
gonna get a no, yeah out.
Speaker 2 (09:58):
And so it's kind of the same thing with business.
Speaker 3 (10:00):
It's like, if you're going to approach these people have
an offer that really is attracted to them, and it's
your job to figure out what that is.
Speaker 2 (10:07):
And I think what you did so well is you took.
Speaker 3 (10:09):
This experience that you had all these years being in
the dental business.
Speaker 2 (10:13):
So you kind of had that expertise.
Speaker 3 (10:15):
I think a lot of people get frustrated because they
feel like maybe they're just in a job or they
don't really you know, see this becoming some giant thing.
Speaker 2 (10:22):
But I love what I love about your story is
you took that lead and because of all that experience.
Speaker 3 (10:28):
You did this in three years, but you were able
look at up for years because of what you did
the previous fifteen learning the ins and outset.
Speaker 2 (10:34):
Of your trade. Yeah, and like so what'splaining about that
is like when we when we.
Speaker 3 (10:42):
Acquired our first you know of practices, like I had
never actually been like behind the desk of the dowl Braggs,
like I was always you know, we were always selling
to like the owners, like the dentists that owned the practice.
Speaker 2 (10:58):
Now because it was either like saw where we were
trying to you know, do other things. We're just we'resels.
Speaker 3 (11:04):
But when we when I when I found myself like
face to face with the office manager and then just
literally looking at us like blanks there, like what do
you know about dentil?
Speaker 2 (11:14):
How are you gonna help? I would dude. It was
I was like, yeah, it's like what do we do?
Speaker 3 (11:21):
Like I'm not I don't know dental, Like I don't
have a dental but I didn't have a dental back er.
Speaker 2 (11:25):
I had a sales.
Speaker 3 (11:26):
Marketing like every yehs, every game, this is just a
salesperson anyway, right, yeah, you got nine cowties.
Speaker 2 (11:32):
I'm like, oh, okay, I should fry thettle chapters. Well yeah,
we got to put a crown on everyone this. Yeah, okay,
we trust you. I can't see my with you, Kenna. Yeah.
Speaker 3 (11:42):
But like I you know, so there was this kind
of like a there was like this weird thing, like
this weird like phase we went through early on where
we we tried Like I was like I was upseiting
my dental books like and then I caught myself like
why am I doing this? I'm like, they're actually not
(12:04):
pardering with me because I know dentistry. Like I'm not
shomp at him to like freaking feel you know, do
a filling or something. And so that like that was
pivotal for me because that like for for me and
my partner, like we we were going in saying, look
(12:24):
like we made we made it as sprang wars right, well,
like we're better together, Like we know how to grow businesses,
we know how to do with sales, we know how
to market, we know how to come in and make
your practice more efficient.
Speaker 2 (12:39):
Did you have to approach the dentists in a way
that they were receptive to that? Because that's tough for
people that are successful in what they do. They do
have degrees, they have big egos, they're making a lot
of money. A lot of money is coming in the door.
You know, how did you approach that in.
Speaker 3 (12:54):
Such a way that they were open and receptive to
be taking advice for you know, us sales there?
Speaker 2 (12:59):
Yeah, why why does anybody like in this room join
Lott right?
Speaker 3 (13:06):
It's it's it's a community approach. Like all these guys
are smart, Like most of them guys listening to your podcasts,
they're smart.
Speaker 2 (13:16):
Why do they listen?
Speaker 3 (13:18):
Because they want to know they they probably know what
they they don't know what they don't know, right, and they.
Speaker 2 (13:26):
Know that they know all that they know.
Speaker 3 (13:27):
Smart people know that there's things they don't know right right,
there's like most people are unaware of what they don't
know and they don't even think they need to know
anything else. Yeah, but when you get to that next
level of awareness, it's like, oh, now I'm aware that
I'm unaware, and that's where.
Speaker 2 (13:41):
You could really make some shell harm percent. So we
were we were like now I'm talking like none of
these guys really had ever benefits because.
Speaker 3 (13:52):
Like they just they never said like yes to any
mes with any corporate because like selling the corporate which
was like Dso's like it was like made you're selling
the big box, like they're gonna control you, right, Our
pits was like completely differre like no, like what you know,
(14:13):
we we kind of got to the emotional uh you
know status of where they were like we would sit
down and have let the dammer with them in their
wives and be like, you know, I think it's actually
kind of bunny.
Speaker 2 (14:26):
Because we're like, you know, like, where are you guys struggling?
Speaker 3 (14:30):
Awares that No, I go like, wor we're profitable, we're
doing this and this, And his wife's like look and
ask like.
Speaker 2 (14:36):
Who's this guy? Like he's sitting there tone like and
so we were kind of get the sword from our wife,
like we're stressed. They're on an island. They need help.
Speaker 3 (14:46):
They don't know how successful they actually are. They know
they're making a ton of money, but they they know
they have more fuel in the tank.
Speaker 2 (14:52):
They they need partners to push arder.
Speaker 3 (14:57):
They need goals, They need to know where they're going,
because do how manon is what like would be just
come in and sit down and densture every single day
and like.
Speaker 2 (15:08):
You know, be just controlled by it well.
Speaker 3 (15:11):
And that these people will spend so much time whether
it's school or learning a trade or even in the
hours where they're working, to make money and to learn
how to make money, but.
Speaker 5 (15:21):
So few people This is one of the biggest things
I've learned is I've kind of gone a little bit older,
is they take they spend so little time learning how
to keep it, how to you know, extend that money
once it becomes in the door.
Speaker 3 (15:31):
And so so many people they make more money, make
more money, but they don't ever really have more money.
Speaker 2 (15:36):
And so for every hour you're spending on making money,
you should.
Speaker 3 (15:40):
Spend an hour on how to save it, how to
invest it, how to make your business more efficient?
Speaker 2 (15:45):
Most people.
Speaker 3 (15:46):
It causes pain to look at budgets. It causes pain
to see where you're leaking, right. I wrote about this
on my book b One, where uh it's called leaking energy.
You're just leaking money. You don't even know where, and
you don't even want to look at it.
Speaker 2 (15:57):
You're just like better if I just don't pay attention
to it. But challenge everybody here to like dial that in,
like go look like where is the money going away?
Speaker 3 (16:04):
I remember when I first started in real estate, I'd
never really done a budget or anything before.
Speaker 2 (16:09):
I was making good money. I my rookie year, I
sold sixty homes and so I had a ton of
money coming in the door, and I remember I just
I was broke, you know, what, what the hell's going on? Like,
how do I have any money? Pers it?
Speaker 3 (16:19):
Yo?
Speaker 6 (16:19):
Yes?
Speaker 3 (16:19):
And I remember I hired an account for the first
time and he asked me a bookkeeper whatever, And he said,
how much money do you think you're spending him up?
And I said I would guess eight thousand or I
don't know, seven eight thousand, and he goes twenty two thousand.
Speaker 2 (16:30):
I was off by that far. I was triple what
I thought I was spending.
Speaker 3 (16:33):
He's like, you didn't count when he spent twenty grand
here hiring this coach for twelve grand here for whatever
doubt payment on your car or what. And it was
like so eye opening to me. I was so far
off of how much money I thought I was making.
And that was the first you know, a gift that
I got early on is the real estate market collapsed.
And I'll be honest, like I had uploaded, I had
bladed salaries. I had people that were just doing things
(16:55):
in the office. And when the market collapses, you don't
have any you don't have any choice with there.
Speaker 2 (17:02):
When the market collapses, you don't really have any choice.
Speaker 3 (17:04):
You have to start finding out where the money's leaky
because you don't have enough coming in.
Speaker 2 (17:08):
And so I got this chance.
Speaker 3 (17:09):
I got down to like thirty two hundred bucks a
month that I was spending back then, you know, And
it was the reason I survived is because you have
to get lean and me it's like every single thing
that's not bringing dollars in the door gone.
Speaker 2 (17:20):
But most Dennis, most rilters.
Speaker 3 (17:23):
Most of whatever profession, they don't spend the time to
really dial in their business. And so I can see
how partnering with somebody that's just like we're gonna take
this for you because people suck, I was said, honest,
and make it be us more efficient.
Speaker 2 (17:33):
Well, and to that point, like who wants.
Speaker 3 (17:36):
To like finish a full day no matter what it is,
and then like have to go do all the admin
for your entire business? Lookie like opening mail one of
your good at sales, you said I could admin stuff,
right a techanician, You're just you're you've exhausted that part
of your brain by the time it comes to doing
the account or and.
Speaker 2 (17:54):
And like you know this, like it's so hard to
work in your business and on your business.
Speaker 3 (18:00):
Like you really have to like you have to carve
that time out to actually do that because otherwise you're
just under oar. Like I mean, you're you're just making
the money or whatever. But like you know, we would
we would come in and be that that side of it,
and it really resonated with good guys. They were like, look,
you're right, dude, I've been filming forever.
Speaker 2 (18:22):
Like I know, I'm taxed, like I'm every hour of
the day, every minute of the day.
Speaker 3 (18:27):
Is like full, Like I can't get any busy and
then me trying and be like yeah, yeah, and you
got to do this before you do that, before you
do that, and I you know, then then it was
like second Lokay shoot or location. Now we're now we're
building out, you know, more operatories, and I mean they
would just see light all sorts of growth and so
(18:49):
you know, for us, that was that was our that
was our site, you know. And going back to like
we knew business they did and then and like maybe
they were vidiego school to business guys, but they did.
Speaker 2 (19:04):
How did you learn business at that level? I went
to UBU right yeah, like front of Lumro and then
dropped out.
Speaker 3 (19:12):
All those buy you kids that left notes on my
car and I saw my sticker, learned how to park asshole.
Speaker 2 (19:17):
I did see a Ubu for like a word. I
think I got my users to graduate.
Speaker 3 (19:21):
I'm seeing graduate around near by and graduate college. I'm
actually I'm actually proud of that. I was in Cousing
College one day and I remember I'm like sitting there
and I didn't know why I had all this like
anxiety and I'm just like this this guy that's trying
to teach you business principles, drove drove whiguard fifty.
Speaker 2 (19:43):
Card, you know, like what am I yearning?
Speaker 3 (19:47):
Men? And so I I you know, my dad he
literally taught me at work like pretty much since I
could hold a hammer and I am And so that
was just read into me.
Speaker 2 (20:01):
And if I was like that, I just didn't even
know the stooling Like I didn't. It just wasn't me.
And so I had to go on like this, figure
it out.
Speaker 3 (20:09):
It has to But how do you do that? Did
you go shadow people? Did you read books? Watched utb asked? Yeah,
you know, early on, like I tried to start a
couple of my own businesses. You know, my dad was
like he had a construction company when I was like,
I don't know, nineteen twenty, started working for man, started
(20:30):
kind of being into that a little bit, and and
this week was like I could tell he wasn't like
like like he was more of a work course that
he was like the Addy's South like strategy business, business gup.
Speaker 2 (20:46):
And so I kind of it was kind of forced
me to kind of think about that, like like how
do I get out of this?
Speaker 3 (20:52):
You know, because you know, we grew up with nothing.
I knew it wasn't in the end of anything and
ever buff arm or like you know, everything I I
I had to buy, Like is there a kay to me?
Speaker 2 (21:07):
Or just work.
Speaker 3 (21:07):
I didn't really ain't enough time to really do sports
or anything like that. Like it was always second to
you know, trying to trying to make the money.
Speaker 6 (21:16):
And so.
Speaker 2 (21:18):
The business principles I kind of I learned.
Speaker 3 (21:22):
Just by doing her, which is so beautiful, right, And
it's like that's so many people they want to learn
from a book that they want to learn from YouTube, but.
Speaker 2 (21:30):
They want to read about how to do it. It's
like code, do the the go, follow on your face, take.
Speaker 3 (21:35):
Acts from your right Tony Robbins. I just saw another
post today he was counting this this on this again.
It's like the most successful people have earned one skill
taking action at my let when he's fuck in my event, and.
Speaker 2 (21:46):
The one thing he said is the most successful people
just know how to take action. And I want to
ask you.
Speaker 3 (21:51):
You said you were working for another tempo company in
twenty nineteen when you quit. I actually was doing a
walk this morning with one of.
Speaker 2 (21:57):
The guys that coach.
Speaker 3 (21:57):
He's here actually, and he's kind of been on the
whether or not he wants to quit his job and
start his own thing. And he keeps going back and
forth on this, and we've been having this conversation for
about a year. How did you know it was the
right moment to quit the job and go all in
on dentor.
Speaker 2 (22:13):
Man like that's it.
Speaker 3 (22:17):
It was the company's sole and so we basically like
the company dissolved and we were forced to like come
up with something else. And I remember, like like a
year before that happened, I was in this like being
I was in my own head just towing my like
(22:39):
I can't be I can't be running.
Speaker 2 (22:41):
At this base like as a sales guy with quotas
and stuffwork.
Speaker 3 (22:44):
I gotta Joe. I got to break gavicause I'm app
And I think it was honestly just like just be
desperate measures, Like I wanted this so bad. I wanted
to break out and not be just an employeemore that
I was a major already have a vision for how
big this could be or no we had no enough.
You were just pretend want to work for someone else.
It's all dude, like like alls, man, we don't we
(23:06):
we dream like dreams are free and you you got
a dream big. I didn't I realized I didn'tured big
enough or we probably would have sold for them in
fears I'd my Jake, but I didn't. I remember dream
big later in life with what key mentors that came
in my life or fop you to send those guys
and and that upe that.
Speaker 2 (23:27):
I like believe my brain.
Speaker 3 (23:28):
Like I always said, I could never start a billion
dollar company because I've always selled a one hundred million
I just would I don't know accur actually, And.
Speaker 2 (23:36):
So we started. We started.
Speaker 3 (23:39):
We were like I told you we had we had
tour locations in like six months and we met. We
met a private eparty guy on the clane and he
like within a week or so talking to us like
we didn't actually know at that time. We were just
too naive to know, Like we were kind of being
like egiligency just private equity again. And he's like on
my phone with us, like ask he I'm like pulling
(24:00):
up our soft and then all of a sudden he's like,
you know, uh, we want what offer you guy? Do
you want to buy our business?
Speaker 2 (24:10):
We're like what?
Speaker 3 (24:10):
And there was a check on the table, dude, like
there was an off one after six months and like
it was like yeah, like seven months. I think yeah,
seven eight months, and I remember going like whoa, Like
we made it, Like this is like this is more
than what we wanted to make per year.
Speaker 2 (24:31):
Like we didn't even have hundreds of millions in our
minds at that time. Like we literally started dent to.
Speaker 3 (24:39):
To like by like five et ten ten practices some
Connageble and just live up you know, the like you know,
one two million, bbada, and and so we were like
like it actually made us sit in there and think
about this check.
Speaker 2 (24:57):
We're like, d should we take to some you know,
We're like, oh, dude, we can't. And like we actually
like made my pardon phone. We just were like, no, dude,
we can't.
Speaker 3 (25:06):
So we talked and then to actually do it a
dead deal because he wanted to learn kind of the
industry because like dental will ups at that time, I
feet pretty hot, so he was this guy was this
guy was smart. He's like I want to I want
to learn coop you guys. So like he actually took
the dead deal. It us twenty one day and we
and then Covid Beverdy gave you twenty million.
Speaker 2 (25:28):
To buy their practices. Basically and at what valuation at
that point, Oh dude, I don't. I'm we didn't have valuation,
just bro. We were Yeah, it's just like I'm I'm
in debt and uh, well frollahead.
Speaker 3 (25:44):
I mean it was looking back like the craziest favor
wittle toms for that, Like it is like error, it
was mone where its annalogy you guys you met.
Speaker 2 (25:52):
Oh but we but we like we spent that I
fat in like it. We kind of held on and.
Speaker 3 (25:59):
Then cooked like COVID with TEPO and we the refou
were den wir and that's another nine hour conversation.
Speaker 2 (26:06):
But like we be.
Speaker 3 (26:07):
Literally turned from like looking at building a business with
summer firing practices to what the hell are we going
to do day by day to like like COVID shutting
all of our practices.
Speaker 2 (26:21):
Down, I mean or like total nightgrad. We were four
states at that point and.
Speaker 3 (26:28):
Like Washington was crazy or was crazy, Texas and school
and Utah was was pretty cool. So we were able
to kind of manage you get through it. But like dude,
I just remember, like I mean, as an entrepreneur, you know,
like you you literally just figured it out. Yeah, like
(26:50):
bay bye, like whatever comes up You're just like, Okay,
I am a COVID expert in this state now, and
I'm getting on all the freaking government we sides.
Speaker 2 (26:58):
That was imagine. It was oh, chat, you can tea
like that, and they add you I had.
Speaker 3 (27:05):
To actually call our trees and our attorneys helped us
every single day do so we started just jumping money
into attorney piece because those guys are smarting us.
Speaker 2 (27:14):
And they were.
Speaker 3 (27:14):
They were helping us find out all this codes in
different ways to like navigate how to keep our practices
open and whatever else. And so he is a nigron
and then we ended up buying it. The update practice
sent all spent aline light. Were you able to pull
in a lot of other businesses because of COVID and
it like they devalued essentially what they sold to you
for no actually.
Speaker 2 (27:34):
What COVID did.
Speaker 3 (27:36):
It was interesting because we had talked to a lot
of different practices, right and at the time they're like nah,
We're like we're good, be don't sell.
Speaker 2 (27:45):
And they cod with it and then they're like, you.
Speaker 3 (27:47):
Guys help like with all the courtant like dat our
stuff and furlowing like Ecois you'll pay Emploise well like
we're shut down two easy like yeah, well you know,
but they're seeing other bsls and the benefit of that.
Speaker 2 (27:59):
So there was like this hybrid approach and.
Speaker 3 (28:01):
Everyone found out that like we with a hybrid approach,
like we can actually help you through these these times.
Speaker 2 (28:07):
And so we actually I don't been takeing.
Speaker 3 (28:10):
It's funny because a lot of times the thing that
we're cursing, right, I think that we're most upset about,
ended up becoming this huge gift. And COVID was that
in so many lays. It was such an eye opener
for me because if there's.
Speaker 2 (28:21):
Anything about me that it's like I was not built
for a COVID world.
Speaker 3 (28:24):
Like I love to travel, I love to get together,
I love to be out. I hate tyranny, I hate
people tell me what to do, and so like all
the things that COVID was. And so the first like
three months, I remember just kicking and screaming, and I
was going nuts and saying things that I would regret
later on my social media and and but then.
Speaker 2 (28:41):
All of a sudden, I had a buddy sets up. Yeah,
and I was bright on all of it, but that's
besides the point. But the buddy said something.
Speaker 3 (28:48):
To me, he said, being truly a piece Jimmy is,
he said, accepting everything as it is and not wishing
it was any different.
Speaker 2 (28:56):
And it changed my world.
Speaker 3 (28:57):
I was like, damn, it's so good, not wishing it
was any difference. I says, Okay, how can I take
advantage of COVID? And I'll be honest, like I was
never going to slow down in my real estate world.
The world literally had to slow down for me to
take up right. And what it did was it showed
me that, like, maybe there's something else I want to do.
And there would have never been a weird of day
without COVID. I'm sure that it just would. I would
(29:17):
have never even fought.
Speaker 6 (29:19):
To do it.
Speaker 3 (29:19):
Yeah.
Speaker 2 (29:19):
Man, it's funny.
Speaker 3 (29:20):
All lot of stuff kind of come together like as
you look back, you know, but like when you're in it,
you don't see you don't see those skedas connect and
now like it's it's you know, And when you're navigating,
it's like do you every like you're you're.
Speaker 2 (29:33):
Operating, you fear at that point, like how is this
going to work?
Speaker 3 (29:36):
What's tomorrow could be? Like what do they do for
your trophy tomorrow? Like yeah, it was crazy, so I
think with.
Speaker 2 (29:42):
Somewhere, I didn't want to go with the conversation.
Speaker 3 (29:43):
I mean, everybody wants to know what financial freedom feels.
I right, it's one of those things that we're all
chasing all the time. It's why we wake up and
go to work and all these other things. How much
did your life change that day when the money finally
hit your account and you're like, oh shit, I'm like
crazy rich.
Speaker 2 (30:00):
See that's funny seas uh so like one, I remember
like it was the day before.
Speaker 3 (30:08):
It was the twenty third of December, so like dudes,
the day before Christmas. I had then and a bullets
like not all but about a year, and you know,
was finally home. We had disposing call. It was like
literally like four fifty pm at night. You know they
(30:31):
wait to the last freaking minute of the of the
year pretty much, and you know we're on the flight,
eight people on the sea call, and I remember like
everyone kind of signing off and everything going like black
or whatever. And then it was like me and my
partner and then like our attorney and we're just like
(30:56):
all right, Merry Christmas, guests done and I I just
closed the laptop and it just felt you know, hundreds
of millions of dollars of debt just like sore out
my shoes and I was like, stood the deep breath
(31:16):
and uh it was super antipical.
Speaker 2 (31:19):
Melboe what did the bank account like? And I was
like and then I was like, I mean I get
I stopped bock Christmas present. I was like, what did
we get arcades for Christmas? Secure?
Speaker 3 (31:37):
My sticers had no idea. I think I slept all
the way for christmasse It was just it was it
was crazy at times, but like so grave they for that,
Like I think after uh, you know, for me, we
were so heads down, I had I had zero up,
Like I didn't have the luxury to actually think about
(31:59):
what all the money meant. And you know, the one
good that I think I did was take a little
bit of time out of the sales process to like
you know, did get a family office.
Speaker 2 (32:10):
The solid very well there in the hive, and those
guys were able to just like threw this like.
Speaker 3 (32:15):
It's like you know when when you're in the middle
of it, it's all it's all like you close and.
Speaker 2 (32:22):
You know that there's like not another day, like due diligence.
Speaker 3 (32:25):
Really the worse like it's like growing just like a
green egg, you know, just you're just in these days
and then there's all these all these questions of what
to do with the wre and it almost becomes like,
you know, you'd never developed money, Like I had never
developed money at that revel and I was almost just
(32:48):
like I'm gonna fold offer what the brew to do,
Like I don't want making dumb decisions.
Speaker 2 (32:53):
We bought a jet, well you did. You didn't hold
off very long.
Speaker 3 (32:58):
I means the dost decision we could have made you do,
we made. I have a small exo for my company
about twenty twenty, about the same time in December, and
I remember that I about like sixty thousand dollars worth
of boxes of baseball cards.
Speaker 2 (33:12):
Like what am I doing? You know?
Speaker 3 (33:13):
Yeah, it was like the dumbest thing. I should have
bought a jet, and I should have bought it. Yeah no, dude,
not the jet that cost you. It's the fuel, the
two bias ever seat, Yuh, it's storing at the bank.
Speaker 2 (33:24):
Random. Yeah.
Speaker 3 (33:25):
No, I mean this like it's been it's been a
cool thing. Actually I sold it to we sold it
out for like a year and a half or something.
But because I actually the business and so it wasn't
renew you weren't traveling as much whatever saw I did
see it.
Speaker 2 (33:42):
I was trying to be responsible. Let's good, Uh kept
some hours.
Speaker 3 (33:47):
So I still point out there, Yeah, I mean finance
freaking like for me, uh, you know you hear you
hear this like all the time. You know, like money's
like the money's a magnifier, like though who you are.
If you get a law it and you're good to
you like you can do good things if you're enable,
like you're going to be a bigger able and and
(34:08):
I I really do believe that.
Speaker 2 (34:10):
And like for me, it was it was more of
an opportunity to like to get back and I I've
literally been blessed like I you know, money has.
Speaker 3 (34:21):
Opened up opportunities to be able to like, don't do
things I haven't been able to do, open up you know,
opportunities to ways to to you know, network with other
other like like minded guys. They're kind of in that
same situation. And it's it's really elevated the way that
I my fate and you know, after after we reclose
(34:45):
and and stay it on for my happy year and
when I exited the company. That's why you might That's
when it was all right, dude, it didn't matter how
much money you have a data after identity press, that's
it was weird.
Speaker 2 (34:59):
And so it was a tough to figure out purpose
and what you do or left every day in that phone.
Speaker 3 (35:03):
Yeah, like you go, wait a thousand miles prebo, like
your phone's blown up every day.
Speaker 2 (35:09):
You're like a glorified firefighter.
Speaker 3 (35:12):
And I was putting the fire's obviously a day to
like radio science and I and I just like, at
first it was cool.
Speaker 2 (35:19):
I was like, hey, man, I got freedom.
Speaker 6 (35:20):
You know.
Speaker 2 (35:21):
That's when I picked up golf.
Speaker 3 (35:24):
And I mean that I'm an addict now and I'm
I'm a little better, but I still pee and we'll
be game. But that got me out of the house.
I was like I did dress like eat golf stock
and I break and go into work just like.
Speaker 2 (35:41):
See your bed did the geests di? I just like
because the golf coardy, and was like damn, like what
am I doing to there? Like so golf? What's think golf?
Did I just play golf? And then it's literally tried
to out like what to do.
Speaker 3 (35:55):
But I got to a point where I was like
all right, no, like this is this is actually like bothering,
like who I Amory?
Speaker 2 (36:04):
Like what do I do? Because you know you hear
about that all the time and and I I didn't
really believe that that happened to me until it did.
And then I found myself like question she these like
did I really? Did I really have an exit? Cumping?
Did I really do that? Was that really success? Like
(36:26):
was everybody? Was that just like a one off?
Speaker 3 (36:29):
Right?
Speaker 2 (36:29):
Like it's it's a real thing, Like you're like, dude,
did I just get like super lucky? Am I just
like an idiot? Like what's happening? And uh? And so
I I kind of do to see where I sat
down and wore down like every title that I that I.
Speaker 3 (36:45):
Helped my father like am I you know, I'm I'm
an investor, I'm let they're bothered, you.
Speaker 6 (36:55):
Know, love it my son, I'm an unful I'm did
all this stuff, every title of a hell And I
just I kind of wrote down like a description of
much aren't and the way that like would be by
something like honorable and.
Speaker 2 (37:12):
Like that exercise with me stamp me out of it.
And so when people when people would be like what
do you do now, and I would like the.
Speaker 3 (37:22):
I you know, if I got just sitther and pause,
I could then you know, go into like those things
that I wrote down. I was like, you, no, don'ly
the super data and no, i'ms sometimes my kids, Well,
what's interesting?
Speaker 2 (37:33):
How like society? It's mostly an American thing, but when
people say, like what do you do? They always refer
how you make money everywhere else in the world and
they don't do that. It's like, oh, I don't know,
I go skiing, I enjoy you know whatever, reading or whatever.
Speaker 3 (37:46):
In America, we immediately people want to know what you
do to make money and it can be a little
bit of our identity sometimes if we.
Speaker 2 (37:53):
Don't watch it and really watch for that. Yeah, I
would agree and like that. It wasn't until I had
money and uh, Bill eyes that that isn't your ident
you know what I mean?
Speaker 3 (38:10):
And so, uh, that's what I had to figure out,
Like who do I, yeah, like to do? What kind
of hustin do I want to be right now? Like
and then you know, if I do invest, like what
kind of investy do.
Speaker 2 (38:23):
I want to be? About? What skills? What value could
I bring to this business?
Speaker 3 (38:28):
Why would they want you know, me as an investor
or me as a part as a partner, and and
so that you know, that's kind of where I'm at now.
And I've got five or six you know, businesses I
spend time on, you know, working every day. I've got
great partners, great operators, and it's it's super fun right now,
(38:51):
I bet Well, well, the last question will get in there.
I want to take some questions from the audience. But
what's the best part about having the money and the
worst part about that money? Now?
Speaker 2 (39:00):
Well, I mean the best part, I mean yeah, just
the slow dumb at it just well, dude, parademic's the
wrong answer. Yeah, that's so why not to them? It's
(39:21):
got story kings at us. I mean yeah, like the
best part is just you.
Speaker 3 (39:26):
Know, honestly, I've I've had more more fun and I've
had more fulfillment honestly helping other people, like just the
ability of being able to get back when I can,
like you know, different charities and things like that, and
then just helping those in need.
Speaker 2 (39:46):
But just around like I really would like live where you're.
Speaker 3 (39:49):
Sad, you know, like neighbors people that I just I've
come across, you know, I just I love, marining their stories,
learning you know, uh, how to.
Speaker 2 (39:58):
How to, how to help.
Speaker 3 (39:59):
I quote that I came out put several years ago
and I actually drank covid.
Speaker 2 (40:02):
I said, is I said, if you don't think money
can buy happiness, you haven't good about enough of it away.
It's true. That's the only way I've ever found happiness
through money.
Speaker 3 (40:09):
Yeahna, but that that is that's a I mean, it's
really it's the only thing, like you can help somebody
like each still good and the worst car what's the
worst part?
Speaker 2 (40:21):
Well, the worst part is just.
Speaker 3 (40:24):
Uh, when I have tuned my obvious and so like
I had to govern myself my life's site where you
back like the last.
Speaker 2 (40:34):
It's a day.
Speaker 3 (40:36):
Uh, I can no duties down. But that's probably the worst.
But I mean the worst too is like you know
you fear you fear your kids. We're kind of getting titled,
like I have amazing kids and uh you know we
we we do a good job with them or they're
all they're all awesome and I but you know you
(40:58):
worry about that you rest degenerate ep Rick Diver.
Speaker 2 (41:01):
Yeah, you guys, let's give it up for Austin.
Speaker 1 (41:06):
Thank you again for listening to the Jimmy Rex Show
and if you liked what you heard, please like and subscribe.
It really helps me to get better guests, to be
able to get the type of people on this podcast.
Speaker 2 (41:16):
It's going to make it the most interesting.
Speaker 1 (41:18):
Also, want to tell everybody about my podcast studio, The
Rookery Studios, now available in Salt Lake City and or
in Utah. If you live in Utah and want to
produce your own podcasts, we take all of the guests,
work out of it for you and make it so simple.
Speaker 2 (41:33):
All you do is you come in, you sit down,
you talk and leave. We record it, edit it, even
post it for you.
Speaker 1 (41:40):
If interested in doing your own podcast, visit our Instagram
and send us a DM Rookery Studios or go to
our website, The Rookery Studios dot com
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