Many entrepreneurs start their journey young. For guest, Roland Frasier, his passion for entrepreneurship began from watching his father. From there, he slowly climbed to venturing out doing deals while still in school. Now, he is a serial entrepreneur and the CEO of Leverage, Ext, Grow + Scale Mentors, and the War Room Mastermind as well as a principal in DigitalMarketer.com, among others. With his hard-earned wisdom from the experiences he has been through, Roland takes us to his journey towards entrepreneurial success and provides great insights and advice on pursuing this path your own. He talks about doing real estate and building businesses that sell along with the importance of networking and having a mentor and the value of giving. Follow Roland along his journey and pick up great advice about starting a business,  growing it, selling, and even buying another one.

Entrepreneurial Journey: Building, Growing, Selling, And Buying A Business With Roland Frasier

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My guest and I have many things in common but until I read his origin story. I didn’t know we were both in bands when we were sixteen years old. He was a keyboard player and I was the lead guitar player. We both lived through our parents’ divorce at that age and then living on our own at sixteen years old. He discovered the words of Denis Waitley in a program called The Psychology of Winning, which he discovered in the back of his dad’s car. For me, my inspiration came from the words of Jim Morrison of The Doors, who inspired my creativity. Later, I discovered Jim Rohn that pushed me out of my comfort zone.

We both focus on goal setting which is cool as our first tool on our journey to entrepreneurship. Our paths diverged at this point. He went in the direction of real estate investments and finding opportunities to propel his career while still playing the keyboard. His adventures in business led him to become an attorney, investing in companies and to date scaled or sold 24 different businesses from $3 million to $37 million. He’s best known to me, in his role with DigitalMarketer.com. He also has a hand in RivalBrands.com and he still advises over 150 other companies on customer acquisition and strategy. Welcome, Roland Frasier to the show.

Thanks, Mitch. It’s good to be here.

Did you know that we both had bands as kids?

I had no idea. That’s funny.

While you stayed in music, I quickly realized that I had no talent whatsoever.

You had a better inspiration because Jim Morrison is way cooler and better than Denis Waitley. I did get a lot from Denis, but I like Jim Morrison.

While you went to the direction of music, I went in the direction of photography. For me, that’s where my real creativity shines. We all have to find it. The important lesson is that, that’s what makes us happy at least me and I’m sure you too. It’s that mix of being able to apply complex ideas and use your brain, solve problems, help people, but then there’s that part of you that’s creative. If that creativity is not expressed, at least for me, it makes me a little sad. How about you?

If you listen to others and figure out how to add value to their lives, it's a great networking tool. Click To Tweet

It’s 100%. There’s another thing we have in common, nature photography is one of my great passions. I have a whole site on SmugMug, across all the different continents, all the nature photography I’ve done. That’s pretty funny.

What is your name on SmugMug, Roland?

It’s /RolandFrasier.

Go check out Roland’s work. You can go to MitchRussoTravels.com and see my little gallery as well.

What do you like to photograph?

I like to photograph the night sky in front of beautiful places, majestic deserts and mountains. I’ve been in Norway, photographing the Northern Lights and Greenland, photographing the icebergs and the glaciers. I continuously go to Iceland sometimes twice a year. For me, it’s that beautiful Northern Lights and sky that rocked my world, I love that so much. You got to check out my work sometime.

I will do it.

Roland, give us an idea of what were your motivators getting going? When you first got started, our stories are similar but, what propelled you to go to law school?

My father is an attorney and he is also a CPA. When I was younger, I enjoyed meeting all of the different entrepreneurs that he represented in his tax practice. It was fun seeing all the different ways that people made money. They worked for themselves and I was like, “I like this whole entrepreneur work for yourself, no limit to what you can do thing.” He said, “I will tell you that, I went and finished my accounting degree and finished my law degree. I used those when I practice law every single day. If you know your numbers, nobody can ever pull the wool over your eyes and you’ll only be limited by the amount of growth that you can create. If you know the law, then you’ll always be able to understand tax advantages and things like that.” I was like, “That makes sense.” I got my degree in accounting and then I got a law degree.

FTC 178 | Buying And Selling Businesses
Buying And Selling Businesses: If you know your numbers, nobody can ever pull the wool over your eyes and you’ll only be limited by the amount of growth that you can create.

 

You were in school until you’re about 25?

Twenty-four.

That path took you right from high school directly into college. You were busy with school quite a bit. Did you have any businesses on the side while you’re in school?

I did. I played in bands, and because I played in bands, I ended up acquiring all of the PA and lighting equipment. I would play on nights which were Thursday, Friday, Saturday or Wednesday. Any time that we were dark or we didn’t have a gig or other nights, I would run sound or lights and do that for a fee for other bands. In addition to the band, I got my real estate license when I was eighteen. I got my insurance license when I was nineteen, my security license when I was twenty. I was putting together real estate deals, syndications and then property developments and all of that stuff. I did three things. I went to school, I did the band thing and then starting with real estate eventually getting into development.

Were these all in California?

No, this was in Virginia.

I didn’t realize you grew up in Virginia.

I grew up in Covington, which is a little mountain town and then Richmond was the big city.

When did you leave Virginia?

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When I came out to law school in the ‘80s.

We all have that moment in time when we leave our family or our place of birth. For me, I left New York to go to Massachusetts and that’s where I stayed, I built my software company there. From there, I worked with Chad and Tony as well out of my spare bedroom in Massachusetts. I picked up, left Massachusetts and the snow behind to come to beautiful Florida. I sit here staring out at the ocean every day, and I love it. Roland, you had a sense of business as a young man. You watched your dad, you went to school, and you were doing deals while you were still in school. What was the biggest deal you did before the age of 25?

There were a few developments that had 2,000 or 3,000 homes in them. Those would probably be the biggest on the real estate side. There was a company that was doing a little over $100 million in sales that I bought and sold.

The readers would be interested in you explaining how you located those types of deals.

Everything comes through your network. To me, I never thought of myself as a fantastic networker, but when I have meetings people tell me that I know everybody. I know more people than they can imagine and all the stuff. It turns out that I am, but I’m not like one of those guys that, if you put me in a mixer would be going around sticking my hand out saying, “I’m Roland Frasier, what do you do?” I’m more of a wallflower. I do like to add value and it turns out that if you are interested in listening to other people and you’re able to figure out how you can add value to them that becomes a pretty powerful networking tool. All of that stuff came through networking, starting with real estate sales and then always looking for opportunity and where can I expand.

Looking for centers of influence, I decided we didn’t want to sell onesie, twosie real estate houses. I found developers to work with because they had lots of houses on a continuing basis. I could get lots of listings if I worked with the developer and then finding out about their business and how that worked. Seeing that they raised money through syndications to do that and getting an insurance license to do the key man insurance and then the securities license so I could raise money like that and then getting into the deals and saying, “It seems like those are pretty profitable, maybe we could do one together?”

I was maybe nineteen when I did my first development deal and that was a piece of property that we entitled and then built four houses on. That was the start of getting into that and then everything else flowed from that, it flowed from getting into that. The company’s thing as far as that goes was outreach. I identified some people that I wanted to meet that I thought were players in the world of securities, including some people in New York. I reached out and a gentleman at Prudential Securities took me under his wing and showed me how that business worked and that was where all those deals came from.

The value of a mentor, that is a key in my life, the mentors that have come and gone in my life. I’m happy to say the mentorship I provide to certain key individuals as well, it’s a great story. Everybody reading knows Digital Marketer. Digital Marketer has become such an incredible company. It’s in everybody’s mailbox every day, multiple times a day. How did you get involved and how did that start? Tell the story of how you met Ryan and Frank and Perry and all these guys.

I went to an event called Traffic & Conversion Summit. It was the first one, which was in 2008. I came across them initially looking for more information on how to do SEO and market. I followed lots of different people and these guys seemed like they had a little bit more substance to offer than most that seemed like a good way to go. I signed up for their stuff and read it. When they offered a product, it was at the time I didn’t know who Perry was, he was introduced as Mr. X on the product. It was called Perpetual Traffic System. It was talking about how he was doing about $30 million in sales for a supplement company that he had, all through AdWords. It broke down on how to use AdWords and do that and thought it was great. I saw that they announced they were going to do this event called Traffic & Conversion Summit and that seems cool, I went and I was blown away at the quality of the content.

FTC 178 | Buying And Selling Businesses
Buying And Selling Businesses: Statistically, only about 2% of businesses go multi-generational beyond two levels, or you lose interest in it and it dies.

 

It was at that time pretty much just Ryan and Perry on stage the entire time, sharing everything that they were doing in their businesses. It was different and that it was real, as opposed to a lot of people that have done things in the past and then go on to teach about it for the next 40 years, not doing it anymore and things change. It doesn’t work because they didn’t adapt. At that event, they offered the ability to join a mastermind called the War Room Mastermind and it was the first time they had ever offered it. I did not take advantage of that then and then I kicked my socks I was like, “I’m busy and I got a lot of stuff going on.” I was mad at myself for the whole rest of the year, about a month later I’m going, “I should’ve done that.” I should have done that it seems like cool. I joined the next year and was a member for three years until I had the opportunity to partner with them and become a principal. Now, I run that, that War Room Mastermind.

You became a consumer first or a fan if you will, of their brilliance and by studying and learning their material and then getting involved with them, that gave them a view of you. That’s how they got to know you.

From the give value networking standpoint, I went into the Mastermind at the time it was $20,000 a year to belong. I joined it and I didn’t go in with the attitude of, “I paid $20,000, what are you guys going to do for me?” I went in with the attitude of, “I want to get to know these guys and I want to serve the other members.” I’m good at taking notes and then following up on the things that are in the notes to annotate them with everything else that would be helpful. I took great notes and provided them to everyone in the group I was like, “I took notes, if anybody wants it.” They got to be where they were all like, “I need your notes.” I gave value there to get to know the people, and then I helped. Because of my background and business and accounting in law and finance, I was able to help Ryan and Perry with their business. I didn’t ask anything in return, “Anything I can do to help?”

When their CEO left, there was an opportunity to come in, I decided to make that investment and do that. Even the first meeting, I remember at dinner there were six of us and one of the women that was in the group was upset. Her father owns a large insurance company and had 20,000, 30,000 agents. The top agent, she had persuaded him to do an SEO, a search engine optimization offer for her. She partnered with somebody who is going to do the services and then she generated the business. The guy took the money and ran, and she was like, “I don’t know what to do. My dad is going to kill me. He’s put his faith in me. I’m going to let him down.” I said, “I’m pretty good at SEO.” I said, “How many people do you need to do this for?” She’s like, “9 or 11.” I said, “You give me their names and what they’re doing and I will do it for you tonight.” I did it that night, and before we left, they were all ranked on the first page for the things they wanted to be ranked for and she was like, “That’s great.” She’s like, “I don’t have anything to give you.” I said, “It’s okay. I helped you out, that’s what people do.” That giving is important and I attribute pretty much all the people I know and all the success I’ve had to it.

I share the philosophy with you. I love to do the same. Roland has something incredible as well. Here is a free giveaway that you’ll learn about in a little while. Roland, the idea of giving and the idea of stepping up to help others, seems to have been a theme in your life. After you got involved with Digital Marketer, how did you grow the business? Where did you take it from where it was with two guys on stage to where it is today?

The first thing was looking and seeing what our business model was, what did we have and who is responsible for what. It turned out that it was a bit dysfunctional at the time because Ryan and Perry wanted different things. They had different philosophies, different approaches to management and different visions of what the company would be. The model at the time was a publishing model, also which was focused on business opportunities and how to make money online sitting around in your underwear, playing on the computer.

That was the thing that at the time, it was more of what we would call internet marketing, a little bit lower level. The customers were people who weren’t in business as much as they were people that wanted to be in business. There were people that were into but, there wasn’t a strategy or an organization. We set about having an idea talking with Ryan and Perry, how can we not have you guys kill each other and also move the business ahead. It seemed easy enough at that time since Ryan was the face of Digital Marketer, to have Ryan and Richard focus on Digital Marketer, to have Perry focus on all the eCommerce things because that’s his passion.

I told them I would take over the Mastermind which was only about twenty people at the time and grow that. I liked events and had experience with events. I would head up the vision and future for Traffic & Conversion Summit. That was the first thing that we did, we said, “What are the responsibilities and the segments of the business that each person should have ownership of and responsibility for?” We set about devising the gross plan for each of those things and said, “We want to get from where we are to this place, how do we reverse engineer and get there?”

That makes a lot of sense. What you’re hopefully doing is matching the skills of the individuals who are heading up those divisions. Once you put people in places where they want to be, where they are adding value and enjoy it, if it is the right people the business should grow rapidly and Digital Marketer certainly has. Can you give us an idea of scale? Are you allowed to talk about the numbers directly?

If you don’t sell the business, it either dies or you leave it to somebody else who doesn’t know how to run it and it dies.

If you don't sell the business, it either dies or you leave it to somebody else who doesn't know how to run it and it dies. Click To Tweet

No, we don’t. All of those companies are significant double-digit multiples of where they were when we started including one that’s about a hundred X. We’ve had dramatic growth and we’ve also exited three companies, which is my objective anytime I come in as I’m ideally looking to exit the company in 3 to 5 years. It seems like more often its 5 or 6 years, but I want to build a company that can sell because it’ll be a better company even if you don’t sell it. Ideally when you sell, you receive a multiple of years of either profit or sales and then you can go do something else with a whole lot more money in your pocket which is fun.

You have proven that that works well, but do you think it’s the right formula for entrepreneurs to go into business with the idea of selling a company? Not from their desire to do whatever they’re passionate about and that they’ve started the business to accomplish.

I don’t think they’re mutually exclusive. You go into something ideally that you have passion about that can also provide great value to other people and make you money, those are three critical components. If you are building the business so that it can sell, you don’t have to sell it, but it’s nice to have the option. The truth is that if you don’t sell it, what most often happens is that it either dies or you leave it to your kids, your spouse, your brother-in-law or somebody else who doesn’t know how to run it, and it dies. Statistically, only about 2% of businesses go multi-generational beyond two levels, or you lose interest in it and it dies.

Before any of that happens, you’re better off if you lose interest in it, sell it before you lose interest so you can do the next thing that you want and get the most money for it. If you’ve lost interest in it, you’re going to get a lot less for it. If you leave it to your family and they muck about with it for a bit and then sell it, they’re going to get less work, you’d have been better off to sell it and then leave them the money. If things change too, you may be in a business where things are changing, you may be in the 2008 of real estate. It’s time to think about, “Maybe I get out now and then take my money and go do something else that is more trend favorable at the time.”

At this stage, what do you think is going to be most satisfying to you, in your life when it comes to business?

It’s the same thing that it’s been all my life. I am passionate about learning new things. I’m passionate about seeing what is around the corner in terms of trends and getting involved with it. I love to grow companies, create customer experiences, build cultures within companies and have an eye towards selling.

Everything we talked about, every recommendation that Roland or I make and a special free giveaway that we’re going to talk about a little bit later in the show. Roland, there’s a lot of entrepreneurs reading this, what would be your best advice? You are an encyclopedia of advice. It might be hard to choose, but our entrepreneurs are in that stage where they’re going. They started a company, it’s moving. It’s not quite there yet and they want to grow a bigger. What would you recommend and how would you advise them?

If you’re looking to grow a company, I don’t think there’s any faster way to do it than through acquisition. My advice would be that, if you have a company that’s got 1,000 customers and you want it to have 5,000 customers, go buy 5 companies or 4 companies with 1,000 and you’ll have 5,000 instantly, as opposed to taking years to do it. If you look at most of the large companies that exist these days, they have regular schedules for acquiring other companies. They call it programmatic acquisition, or programmatic M and A, mergers and acquisition. If you want to take a $1 million business to a $10 million business or a 1,000 customer business to a 10,000 customer business or anything like that, there’s no faster path than acquisition. It’s probably the most frequently overlooked thing, people think they have to grow the business organically or linearly and you don’t.

People reading might say, “Roland, I don’t have $1 million or $10 million in the bank.” I know you’re going to have a strategy that will show readers how they can use their existing equity to maybe think about acquiring other companies.

FTC 178 | Buying And Selling Businesses
Buying And Selling Businesses: Build a company that can sell because it’ll be a better company even if you don’t sell it.

 

When I teach this stuff, I have 28 different ways to buy companies with no money down across seven different categories of the kinds of businesses that you want to look to acquire. Remember, you don’t have to buy whole companies too. You can buy assets from companies. You can buy YouTube accounts. You can buy Instagram channels. You can buy all kinds of things that aren’t a whole company, as well as buying whole companies.

Can you give us an example of that, something in your life that you did?

I’ll give you a couple. One would be with in a real estate business that we have, there was a podcast and the podcast had 800 episodes and millions of downloads. We wanted to have a leading podcast in the real estate space. We simply went out and bought it. Another would be, we owned DIY projects, do-it-yourself projects, DIYProjects.com. We have a Facebook group that had about 230,000 some members. We knew that each member in the Facebook group was worth a certain amount per month to us in terms of sales from the businesses that we had that made offers to that Facebook group. We found another Facebook group that had 250,000 members and we acquired that. We acquired it for $1,500 and we merged it through Facemail, we contacted Facebook and said, “We own both these groups, we like to merge them to one.”’ Facebook said, “Yep.” We instantly doubled the size of our Facebook group from a couple hundred thousand to 500,000.

Readers, you’re getting some great ideas here, I am as well. Those are fantastic strategies and sometimes you can find these amazing bargains. A Facebook group that’s been neglected, someone’s bored of it, but they still have 250,000 members. For them, $1,500 might be a lot of money. Don’t be afraid to make offers.

Even active real estate group. We have a real-estate brokerage that we own. We wanted to have a large and active group of brokers online to recruit new brokers for our business. Each new broker is worth X dollars to us. We found the most active Facebook group for real estate agents and we approached them and they said, “No, we’re doing okay. We’re happy to partner with you on some stuff, but we don’t want to sell.” We went to the second biggest one and we said, “Would you be interested in selling?” They said, “Yes.” It ended up being $75,000 and you might say, “I don’t have $75,000,” but we didn’t pay $75,000 up front. We said, “How about if we give you $5,000 up front?” We then went and partnered with somebody else that was a non-competing business who didn’t want to recruit agents for their brokerage. We said, “How about if you go in with us, you put in $5,000. We source the deal and we’ll give you a piece of that with an exclusive for the thing that you want for a certain period of time.”

We gave them that, they put in the $5,000 and then we told the people we say, “We’ll give you $5,000 now and we’ll give you $70,000 the next $70,000 that comes in.” We had already approached two sponsors. We went to a mortgage company and said, “We’ll give you a one-year sponsorship of the group for $50,000.” Went to another one and do the same thing for $20,000. A different provider had that $70,000 committed. We paid through sponsors as opposed to equities as opposed to giving equity ownership in the group to somebody else, we paid for the group immediately. Now we own the second largest, soon to be the first largest real estate brokerage community on Facebook.

Without spending a penny.

Exactly. I do case studies on these. We’ve done this many times, it’s fun. It’s a game for me, how do I buy something without having to pay money out of pocket for it.

A lot of people who is reading are small business owners, maybe they’re coaches for example or consultants. How would you suggest one coach buy another coach out when the talent is the individual, not the assets like a list or something?

You change the world by affecting as many people as you can in a positive way during the time that you’re given here.You change the world by affecting as many people as you can in a positive way during the time that you're given here. Click To Tweet

I wouldn’t suggest that they do, because there are bigger opportunities. If I was going to go about it that way then the way you do it is you have what you call a post integration plan. When you buy a company, you buy the company and then you have a period of blending the two companies together after the acquisition, that’s generally called an integration period. During that time, the easiest way when it’s a personality-based business, is that you have a period of time that the departing personality is going to introduce the new personality into the client relationships.

If you’re buying it from Joe, then you have Joe go along for the next six months to all of the coaching calls and say, “I’m Joe and I’ve been your coach for a long time. I’m going to be moving out of the business, but I found somebody that can serve you maybe even better than I can certainly as well. His name is Mitch, and he’s here now. Mitch is acquiring the company and I’m excited because he can add tremendous value to you. Mitch is going to be on the next few coaching calls that we do.” You have Joe gradually move from being the primary, to being a support, to being gone.

That’s a great idea.

I wouldn’t buy that business for cash either. I’d buy that on an earn out so that you have the ability to say, “I’m going to pay you based on the stick rate of the coaching clients that you’ve got.”

That makes a lot of sense. Share some of the strategies for buying and selling like this. What readers would love to learn is how to take something that they have, which is probably relatively small and find the type of company. What about adjacent companies or companies that support your company but are not in the same business?

I look at seven different categories of acquisition. The first one is that you’re buying a competitor, that’s the one that most people go for. The next time would be, that you are buying media, like you’re acquiring a Facebook group, a blog, a television channel, a radio show or podcast that has the eyeballs of your ideal customer. The next time would be, if you’re acquiring it for talent. Maybe you want to develop a software application but you don’t have a software development team. You want to do outside sales or inside sales, but you don’t have a sales team to do that or a rep network.

You go out and find somebody that’s already got that, and you buy that company and you have an instant set of that talent without having to build it yourself. You might also look to companies that provide services to either your clients or to your company currently, companies that provide products to your company or your clients currently. The other way would be to look at consolidating the supplier distribution chain. You’re doing what they call vertical integration buying suppliers, which could be a manufacturer if you’re selling products. It could also be that maybe you have information or something like that that you’re selling and you’re buying someone who has content.

That could be in terms of content manufacturer or it could be the distribution. They’ve got a blog network or a podcast network or something like that, distribution channels then you end up making the spread in the margin that was previously going to the supplier or the distribution channel. The last time would be intellectual property. Somebody else has a copyright trademark, patent, a trade secret, a list of customers, any of those kinds of things are considered an intellectual property and you’d be buying that. Those are the seven categories of things that make sense to think about acquiring.

When we had the software business some years ago, we had farmed out all of our manufacturing and production. We decided that we would buy our production house. My partner thought I was crazy but I said, “Look at the numbers. One year later, we’ll save about $20,000 a month in production costs.” We went forward and did that and we had excess capacity. We started taking on other software publishers manufacturing as well. Before you knew it, we were trying to alleviate some of our expense, but we started a whole another business from the business we are already in. Do you see that happen much?

FTC 178 | Buying And Selling Businesses
Buying And Selling Businesses: A powerful networking tool is the ability to listen to other people and figure out how you can add value to them.

 

I see it happen with us all the time.

Give us an example on how you did it.

I’ll give you across those categories. We have purchased other digital marketing companies that’s the competitor or other companies that had digital marketing products in the digital marketer business. In terms of acquiring media, I gave you the example of we bought podcast, we bought YouTube channels, we bought Instagram and Facebook groups and we bought blogs. One of the best things we did there was we bought a blog that was doing about $30,000 a month in revenue and we bought it for twelve months of revenue payments. The gross income from the blog paid for itself and we grew that $30,000 a month business to a $30 million a year business over the next three years. That’d be a great example of that that was done with no money down, first payment was due 30 days after acquisition, that’s media.

In terms of the talents, we wanted to go into software. We had a vendor who was providing software services to our company that had a software development team. He didn’t want to own that SaaS anymore so we acquired the company and with it the development team which turns out to be in Pakistan. We had to learn a whole lot about how to have non blacklisted, non-terrorist organizations in certain countries that you can make a payment to so that was fun. It got us a software team that we to this day are helping us develop more SaaS that we offer to our customers. In the services side, we had a company that was a direct mail house. They send out millions of pieces of mail every month and was a 28-year-old company that was providing those printing and mailing services.

We were referring a lot of business to them and we went to them and said, “We’re referring a lot of business to you. You’re probably concerned that we might want to go into this business our self, it turns out we do. We’d like to acquire part of your business because we already know, like and trust you and you know we can send lots of business.” We were sending them more than 10% of their other total business time. Imagine what we could do if we focus on you, we were able to acquire that company. In terms of the supply chain vertical integration, there was a company that was manufacturing water filters that we sold. We went and acquired that company so that we could control the manufacturer streamline and have an additional profit center.

Also, have the margin that was previously going to the manufacturer. We decided we wanted to go into a business of e-learning and education for small businesses in several verticals, but we didn’t want to develop all of the intellectual property do those ourselves. We went out and found a company that had 128 courses for small businesses in how to be a truck driver, how to be a hairstylist, etc. All of the business plans, the training, the spreadsheets, everything and we acquired that so that we instantly had that. That’s a few examples.

I’m inspired by these stories. Readers, I hope you are too. Let’s segue into our two core questions. We ask these questions because readers love to get a little bit more detail and information about our guests. Here’s the first question, who in all of space and time would you like to have one hour to enjoy a walk in the park, a quick lunch or an intense conversation with?

That’s a lot of people. At this point, I’d love to hang out with Charlie Munger for an hour. The guy is absolutely brilliant. I love his mental models’ canvas that he talks about and I’d be interested in having a chat with him about that stuff.

I was a fly on the wall some years ago, Charlie Munger was in a meeting with Chet, I got to listen in on that call. It was the first time I ever saw Chet be quiet and listen. It was a great experience. Charlie was beyond brilliant, it completely rolled out of him like it was an afterthought.

If you’re looking to grow a company, there’s no faster way to do it than through acquisition.If you're looking to grow a company, there's no faster way to do it than through acquisition. Click To Tweet

He’s a sharp guy.

Roland, here’s the grand finale, the change the world question. What is it that you’re doing or would like to do, that truly has the potential to change the world?

It depends on what you think change the world means. I am not a person who thinks that I need to leave this legacy that my name will go down in history or anything like that. You change the world by affecting as many people as you can in a positive way during the time that you’re given here. What I do now actively to do that is also the most selfish thing that you can do which is, I help other people. I try to give them value and I don’t expect anything in return. The more that catches on, the better the world will be, because it will lift everyone up and it will at the same time lift all of the people who are doing that up.

If everyone were to follow that lead, for every time you help one person if that person would turn around and help someone else, I have to tell you, you’re changing the world.

I agree, 100%.

I understand that you have something cool that you would like to give my readers. Would you describe what it is and how they can get it?

I’d be happy to. I call it 585 and it comes from my experience. I was asked to do a presentation one time and I was like, “I only had ten minutes to give it.” When you have to give a lot of value in ten minutes, it makes you work on consolidating things down and reducing it to its essence. I created a talk that I called 585. It’s how to increase five times the valuation of your business, how to reduce your expenses by up to 80%, and how to increase lead flow by 500%. That set of three videos which are only ten minutes long, it’s easy to consume, but it’s dense. Don’t let the brevity cause you to think that the value isn’t tremendous because it is and I’ve used this 585 to transform dozens of my own businesses as well as hundreds of other people’s businesses. That is something that I would like to make available to all of your readers.

It’s an absolutely incredible gift and thank you, Roland, for offering that.

It was my pleasure, thank you. Anybody that’s entering their email address there should know, that is not a site that I harvest email addresses to then pound and pummel with marketing messages. You will not hear from me as a result of entering your name.

People might want to hear from you. In fact, your website is a wealth of education. I would highly recommend that once you go there and sign up for this incredible tool, stick around a bit. Download some of the stuff that Roland has made available to us and watch some of the videos that he’s put together. I guarantee you’re going to learn something and maybe something so significant that it could change the way you think about your own company. Roland, thank you so much for being on the show.

Thank you for having me.

It’s my pleasure, I appreciate it. I can’t wait until we get a chance to talk again soon.

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