Transcripts For MSNBCW Your Business 20180616 : vimarsana.co

Hi there, everyone. Im j. J. Ramberg and welcome to your business avoid, dedicated to helping you grow your business. You are about to meet four friends who started selling french macaroons for fun. We talked to them about how they navigate making decisions between four very opinionated founders. It started in 2012 with four friends from four totally different backgrounds. All with one giant sweet tooth. The business really started by accident. We never really planned for it to be what it is today. There was an opportunity to sell french mcaroons. We went for it and we made 250,000 in nine weeks. With that quick success, it began to sink in that they might be on to something. It was Pretty Amazing. We were sitting at home and literally woops, we have a business. The business is woops today its the largest macaroon business in the country. The success is in large part because of the partnership between the four founders, a partnership that has had to evolve over the years. Looks good. Oh, yeah. I see some potential there. All too often, i see a lot of partnerships and a lot of businesses grow because, hey, a couple friends came together and they just become equal partners. They dont think through what a partnership means. In the beginning, that could have described them. They divvied up the jobs without thinking much about it. It happened organically. We knew what everyones strengths and weaknesses were. Raj with a bit more of a broader understanding of the u. S. Market, it was very natural for him to take on the finance. Gal managing people at his previous job, it was very clearly to us that this is what he needs to focus on. Gill has had great experience leading different types of people. Hence, we have made him ceo. Cal, she is a design genius. She has a fantastic eye for look and feel. But as much as they recognized each others strengths, it wasnt entirely clear who could weigh in on what. With equal amounts of ownership, everyone felt entitled to say what they thought whenever they thought it. Were all very opinionated. Its very easy to get involved with everything because you care so much about the business and about growing it and youre passionate about it. Youre putting everything you have into it. There were too many cooks in the kitchen and that had to stop. We need to let each other do our jobs and give the space to actually achieve something. To be clear, this doesnt mean that the founders simply run their departments as silos. They still get together to talk about the big issues. And theyre still as opinionated. Thats what we need to decide. Never, never, no, we never fight, never. We have our disagreements. When we have to decide on strategy, we can close the door to the office and we can can curse each other. But at the end of the day, someone calms down and calms everyone else down, as well. Were all fully invested in the business. They have a clear chain of command. If they come to a stand still, gill decides the outcome. Theyve documented what to do if thing really go off the rails. If things dont work out, how do you exit the partnership . No different than a prenump. But the founders say while the documents provide protection, the one thing that makes their Partnership Work is something no lawyer could dictate. Its about trust, compromise, and leaving your ego on the side. That trust is what turns these four friends with a stand at a Holiday Market into the Powerhouse Team they are today. Once you get into this relationship in the business, it comes with you home. It comes with you to bed. It comes with you when you came up in the morning. And you have to make sure that even if you dont agree, you know when to compromise, you know when to give up and thats the only way to succeed. Rodan fields may be the most. Popular skin care line that you have never seem. The products, which you cannot buy in stores are sold socially by a community of over 200,000 consultants and it is a Sales Strategy that is working. Katie and cathy are the dermatologists behind the Company Recently named the number one skin care brand in north america. They stat sat down with me to talk about partnership disrupting distribution and buying back their company. Remember this . An easy, quick threestep system which combines powerful acne fighting medicines with elegant skin care formulations. The two legendary dermatologists behind those memorable infomercials revolutionized the field of skin care, not once, but twice. And it all began with this. Okay. Ill lead read it. So i typed this up on type writer. It still hang eggs in my house and reminds me every day of where we started. It says katie rodan and cathy fields are 50 50 partners in the company for the development of an acne product and line. Both parties have 50 of the rights to buy and own formulas. Both parties execute all documents. Both parties share equally in the profits and expenses. Here is the real kicker. All expenses over 50 must be approved by both parties prior to incurring expense. So that tells you where we started. I had two little kids and i remember thinking, we cant spend 60. I need to buy diapers. Correct. I need diapers this month. Really, thats where it all began. And the spirit of that document has lasted 30 years. 30 years, for sure. We shared a lot of war together, which would be residency at stanford and our training and a shared vision. We love dermatology. We still practice, by the way. With that, we want to take the best of what were doing in our office and make that available to everyone. After the success of proactive, the duo started a new skin care line called rodan and fields. Soon after launching, estee lauder came knocking and they sold the company, a decision they regretted almost immediately. You guys took a big risk when the sold rodan fields to estee lauder and then you bought it back. We did. The problem was we had a very big vision to help people and we werent getting there at all. We were trapped behind the glass counter completely. We werent their highest priority and we were never going to get anywhere. So the courage to buy it back wasnt difficult. The courage to start again with all the risk, a completely on our shoulders, everything we had earned from proactive we poured into the new venture rodan fields. And not understanding fully how were going to sell this product. Right. And its timing, too. That was really critical. Because right at that moment in time, we saw the decline of department stores. You could literally roll a bowling ball through the aisle of the department store. No one was going in there to shop. With proactive, we were selling through infomercials, very disrupted means of distribution. So we had to figure out another way where we could speak directly to the customers. After buying back the branch, the relaunch of the Company Started with an enormous thud. When you launched rodan fields, you rented out a big ballroom and you expected lots of press and lots of people to come. And six people showed up. Thats yeah. How do you deal with disappointments like that . That was devastating, let me tell you. Thats when its really good to have a partner because you can cry on each earothers shoulder. Here we were, launching rodan fields. We had created proactive, the best selling acne product of all time. We thought, were going to get the word out there had. We thought, lets think big. I remember looking out wind the curtain and seeing six people in the audience. One of whom is like my aunt. Oh, my god. So devastating. And i remember turning to both cathy and my husband and saying, do you think were going to make it . And i remember my husband saying, you know, with i dont know, but we got to keep trying. That effort paid off. From seven employees in 2008 to more than 700 employees now. Plus, more than 200,000 consultants that sell the product. Rodan fields is now the number one skin care brand in north america. A lot of people would say light ming cant strike twice. Yet for you guys, with it has. Products are king. It really works. What we do transforms skin. And do the right thing. If we are working with a product and its just, ehh, we dont launch it. Our bar, our personal bar is so high that we will succeed. And everything around us, our culture that weve built here runs on that same engine. I think we have a Real Advantage compared to lots of other skin care companies. Because we are dermatologists and were product developers. Weve been doing this for a lot of years. And we know how to make products that really work. And i think when you start from that Vantage Point and put your products and your customers at the forefront of your business, you will be able to figure out how to get those products in the hands of those customers. We have launched this Second Season of our pod cast, been there, built that. And this week, were talking to the duo we just showed you. Katie rodan cathy fields. They tell me about their big launch event for their company and how it was an enormous flop. And they explain why they made the decision to sell their business to estee lauder and they bought it back. We go into more depth. I hope you all get a chance to listen to it. Its really interesting. And if you do, please give us feedback. The pod cast, as you know, still pretty new and we love hearing what you think. Weve gotten some really interesting feedback from people so far. So thank you to those of you who with have written in. Go and listen for free. Its called been there built that. For several weeks now, we have been doing our elevator pitch from here at hsn, the original tv network. Weve made some dreams come true and weve had a few disappointments. But today were going to find out again if our elevator pitcher maxz the cut. Theyre going to be pitch to go two executives from hsn to see if theyre going to get the chance to sell their product live here in a studio just like this one to 91 million households. We wish them, i wish them the best of luck. Hi, danielle. Its j. J. Hi. Nice to meet you, j. J. Its so good to see you. And youre wearing your product. Yes. You are ready to go and it matches your shirt. What is the name of your company . Seal shoe covers. Lets start walking to the studio. Can you walk in those . Yes, of course. So youre going to pitch to two people. How do you feel . Im nervous, but im happy and excited and thank you for this opportunity. Thank you for making something and coming on this show. Its so great. You watched this as a kick starter campaign, right . Yes, i did, late 2015. So you dont have to be nervous because you already know that people love this had. So lets go get in there. Dow a great job pitching. Thank you so much. Come on in here. You go first. Okay. Hi. Hi. How are you . Thank you for having me. My name is dean yell king. Im from miami, florida. Have you ever been surprised by a discussed rain storm and couldnt get to your car because of a flooded parking lot and you dont want to ruin your favorite shoes or even worse, having to change your entire outfit to accommodate those ugly, bulky, clumsy rain boots . I have the solution to this rainy shoe problems. Seal shoe covers. Its a fashionable lightweight durable water resistant shoe protector. It protects any style of shoes from rain, mud or snow. Seal shoe covers goes over any style of footwear, scandal, wedges, tennis shoes, even high heels. Seal shoe covers are not only practical, theyre convenient. They fold into their own selfcontained pouch, making it easy to carry in your purse, briefcase or you can clip seal to a childs backpack. Seals are easy to clean. Wipe off with a wash clothe or simply throw in the washing machine for a quick refresh. Seal is a new goto for a rainy or snowy day. Oh, my god, danielle, that was like a commercial. I feel like you have paragraphsed that. Ye yes, i have. Seal shoe covers. And i think they are awesome. I particularly love the colors. I want to show you the shoes im wearing, high heels. What are you hiding underneath that . High heels. Oh, you guys have to see this. And theyre exactly how my invention is supposed to work. Yeah. Because i dont want to wet this. Once you wet this type of fabric, its ruin. Ruin your shoes. Okay. The shoes i have on right now would be a concern for me if i had to go outside. I want to hear your feedback. What did you think . How did danielle do . Well, first of all, i love the fact that you attacked a problem with a solution. And thats exactly what entrepreneurs are supposed to do. You told me the problem. You made it reflectble to me. And as my mind is going, what am i going to do about it . You came in with the solution. So very good pitch. Thank you so much. Thank you. What did you think of that . High demonstrationbility. Really good visuals. To see you come in with your shoe covers on and the reveal, right . The reveal is a heel. So you think about that. That was smart. Getting my pitch down. When you think about these, also think about help educate your customer. How should she select her size, right . I like that you covered the wide range of footwear that she can put this over. It really is limitless. If you have a foot, you can use it. And its not just she, by the way. She and he. These guys are going to decide if you get the chance to pitch this to their audience. Millions of people on hsn. Its for kids, too, right . Yes. This is where i with three kids think this is golden instead of having to carry their big shoes to school, they can put these on. Exactly. Any type of shoes. The tennis shoes that they take to school. Yeah. Hey, j. J. , we have one question that we sort of just need to ask that will help us make our decision. Sure. What do they retail for . 29. 99. All right. So were going to come right over here. I want to see this sign that says on air. So will danielle have a chance to to sell the shoe covers on hsn . Take a look. Yay congratulations. Congratulations. Oh, thats so exciting. Can i hug you . You can hug me, girl. Your dream is going to come true. Thank you. Thank you so much. So excited. Thank you. Congratulations. Thank you so much. Thank you. Oh, you did it. This is a dream come true. Thank you for this opportunity. Did you think it was dont thank me. Youre the one who created this awesome thing. Did you think it was going to happen . No. You didnt . No, no. I am surprised. And youve been waiting a long time. Yes. Who are you going to call . My husband. Hes the biggest supporter. Youre shaking. I am, i am. Its amazing. I want to cry for you. Were here at the collision conference in new orleans which has brought more than 25,000 people who are interested in whats new in technology. And i have sitting here with me now fal, founder of node, which is all about using Artificial Intelligence to get you the best opportunities in your business. Good to see you. Thanks for having pe. Explain to me what node is. Imagine whatever application or device youre using, youre getting highly relevant recommendations for your next customer or perhaps your next state. We leverage ai to help you accelerate serendipity in a way that can be transformative to your life or your business. It love how you explain it. It says if google and linkedin has a baby. Pretty much. Our board member likes to say that, yes. Lets talk about using your resources. Node helps you with this, but also if you have employees. You have a whole base of people who you may not be tapping into in the way you should be. Yeah. How do you do that . How do you tap into all the knowledge and connections of your employees to get you what note can get you through ai. Sure. I think step one is ensuring that the priorities for your business of what those Key Opportunities are that are going to take your business to the next level are clearly communicated across the organization. And what this will allow your employees to start doing is thinking about who do i know in my network to help my business achieve these goals . And so the first step is Clear Communication around what the objectives are. The second piece is to then provide incentives or tools that can help your employees be much more efficient at understanding who do they know that could be relevant. I think a lot of Companies Use this for recruiting to say we have a 1,000 bonus if somebody brings in a finders fee to find someone who works for us. I dont know if they think about it as much for opportunities when it is not related to that persons function in the company. It is important to break down those that might exist in an organization. We actually encourage everyone in the company, we are small enough at this stage, about 30 people, to have lunch with each other at least once a quarter. And they can go out, they can expense the lunch. Not only are they getting to know each other across different functions, they spend time helping each other attend each of their functional objectives or priorities. Im investor in a couple of comes. I have a letter that says these are the things i need. When you think about a ceo, a management team, sending Something Like that out to the entire team. I will do that as well. I will communicate what my priorities well. Okay, send an email. I am specifically looking for an introduction to this potential prospect. Do you know anybody . Is there anything you can do about getting your employees to know how to use our prospects. They bring someone to the company and have a free lunch. At google we did this a lot too. I would always bring friends, family, people interested in working at google, bring them, host them for lunch. That was a great way for them not only to get a look and feel what the company is like but actually be able to have a centered around how can i help you, how can you help me. So the more people you get in the door the better. Part of my story for how i even started, i did an analysis of all the introductions that i had made of people i spoke to within my network and realized i had a knack for match making. It led to millions of dollars in acquisitions, investment, et cetera. All i was doing is understanding what are the priorities for this persons business, what are their biggest needs. Who do i know that might be interested in that opportunity but also they would get along, that they could be a great partnership. And i think when you get to your employees, sometimes people use that on the management level. But forget they can use it in the lower levels as well. Who knows who is in these peoples networks. Congratulations on your company and its growth so far. Thank you so much for stopping by. Thank you so much. When we come back, the pros and cons of offering awe onetime discount. And how you can turn your employees ambassadors for your brand. The line between work and life hasnt just blurred. Its gone. Thats why you need someone behind you. Not just a card. An entire support system. Whether visiting the airport lounge to catch up on whats really important. Or even using those hardearned points to squeeze in a Pretty Amazing<\/a>. We were sitting at home and literally woops, we have a business. The business is woops today its the largest macaroon business in the country. The success is in large part because of the partnership between the four founders, a partnership that has had to evolve over the years. Looks good. Oh, yeah. I see some potential there. All too often, i see a lot of partnerships and a lot of businesses grow because, hey, a couple friends came together and they just become equal partners. They dont think through what a partnership means. In the beginning, that could have described them. They divvied up the jobs without thinking much about it. It happened organically. We knew what everyones strengths and weaknesses were. Raj with a bit more of a broader understanding of the u. S. Market, it was very natural for him to take on the finance. Gal managing people at his previous job, it was very clearly to us that this is what he needs to focus on. Gill has had great experience leading different types of people. Hence, we have made him ceo. Cal, she is a design genius. She has a fantastic eye for look and feel. But as much as they recognized each others strengths, it wasnt entirely clear who could weigh in on what. With equal amounts of ownership, everyone felt entitled to say what they thought whenever they thought it. Were all very opinionated. Its very easy to get involved with everything because you care so much about the business and about growing it and youre passionate about it. Youre putting everything you have into it. There were too many cooks in the kitchen and that had to stop. We need to let each other do our jobs and give the space to actually achieve something. To be clear, this doesnt mean that the founders simply run their departments as silos. They still get together to talk about the big issues. And theyre still as opinionated. Thats what we need to decide. Never, never, no, we never fight, never. We have our disagreements. When we have to decide on strategy, we can close the door to the office and we can can curse each other. But at the end of the day, someone calms down and calms everyone else down, as well. Were all fully invested in the business. They have a clear chain of command. If they come to a stand still, gill decides the outcome. Theyve documented what to do if thing really go off the rails. If things dont work out, how do you exit the partnership . No different than a prenump. But the founders say while the documents provide protection, the one thing that makes their Partnership Work<\/a> is something no lawyer could dictate. Its about trust, compromise, and leaving your ego on the side. That trust is what turns these four friends with a stand at a Holiday Market<\/a> into the Powerhouse Team<\/a> they are today. Once you get into this relationship in the business, it comes with you home. It comes with you to bed. It comes with you when you came up in the morning. And you have to make sure that even if you dont agree, you know when to compromise, you know when to give up and thats the only way to succeed. Rodan fields may be the most. Popular skin care line that you have never seem. The products, which you cannot buy in stores are sold socially by a community of over 200,000 consultants and it is a Sales Strategy<\/a> that is working. Katie and cathy are the dermatologists behind the Company Recently<\/a> named the number one skin care brand in north america. They stat sat down with me to talk about partnership disrupting distribution and buying back their company. Remember this . An easy, quick threestep system which combines powerful acne fighting medicines with elegant skin care formulations. The two legendary dermatologists behind those memorable infomercials revolutionized the field of skin care, not once, but twice. And it all began with this. Okay. Ill lead read it. So i typed this up on type writer. It still hang eggs in my house and reminds me every day of where we started. It says katie rodan and cathy fields are 50 50 partners in the company for the development of an acne product and line. Both parties have 50 of the rights to buy and own formulas. Both parties execute all documents. Both parties share equally in the profits and expenses. Here is the real kicker. All expenses over 50 must be approved by both parties prior to incurring expense. So that tells you where we started. I had two little kids and i remember thinking, we cant spend 60. I need to buy diapers. Correct. I need diapers this month. Really, thats where it all began. And the spirit of that document has lasted 30 years. 30 years, for sure. We shared a lot of war together, which would be residency at stanford and our training and a shared vision. We love dermatology. We still practice, by the way. With that, we want to take the best of what were doing in our office and make that available to everyone. After the success of proactive, the duo started a new skin care line called rodan and fields. Soon after launching, estee lauder came knocking and they sold the company, a decision they regretted almost immediately. You guys took a big risk when the sold rodan fields to estee lauder and then you bought it back. We did. The problem was we had a very big vision to help people and we werent getting there at all. We were trapped behind the glass counter completely. We werent their highest priority and we were never going to get anywhere. So the courage to buy it back wasnt difficult. The courage to start again with all the risk, a completely on our shoulders, everything we had earned from proactive we poured into the new venture rodan fields. And not understanding fully how were going to sell this product. Right. And its timing, too. That was really critical. Because right at that moment in time, we saw the decline of department stores. You could literally roll a bowling ball through the aisle of the department store. No one was going in there to shop. With proactive, we were selling through infomercials, very disrupted means of distribution. So we had to figure out another way where we could speak directly to the customers. After buying back the branch, the relaunch of the Company Started<\/a> with an enormous thud. When you launched rodan fields, you rented out a big ballroom and you expected lots of press and lots of people to come. And six people showed up. Thats yeah. How do you deal with disappointments like that . That was devastating, let me tell you. Thats when its really good to have a partner because you can cry on each earothers shoulder. Here we were, launching rodan fields. We had created proactive, the best selling acne product of all time. We thought, were going to get the word out there had. We thought, lets think big. I remember looking out wind the curtain and seeing six people in the audience. One of whom is like my aunt. Oh, my god. So devastating. And i remember turning to both cathy and my husband and saying, do you think were going to make it . And i remember my husband saying, you know, with i dont know, but we got to keep trying. That effort paid off. From seven employees in 2008 to more than 700 employees now. Plus, more than 200,000 consultants that sell the product. Rodan fields is now the number one skin care brand in north america. A lot of people would say light ming cant strike twice. Yet for you guys, with it has. Products are king. It really works. What we do transforms skin. And do the right thing. If we are working with a product and its just, ehh, we dont launch it. Our bar, our personal bar is so high that we will succeed. And everything around us, our culture that weve built here runs on that same engine. I think we have a Real Advantage<\/a> compared to lots of other skin care companies. Because we are dermatologists and were product developers. Weve been doing this for a lot of years. And we know how to make products that really work. And i think when you start from that Vantage Point<\/a> and put your products and your customers at the forefront of your business, you will be able to figure out how to get those products in the hands of those customers. We have launched this Second Season<\/a> of our pod cast, been there, built that. And this week, were talking to the duo we just showed you. Katie rodan cathy fields. They tell me about their big launch event for their company and how it was an enormous flop. And they explain why they made the decision to sell their business to estee lauder and they bought it back. We go into more depth. I hope you all get a chance to listen to it. Its really interesting. And if you do, please give us feedback. The pod cast, as you know, still pretty new and we love hearing what you think. Weve gotten some really interesting feedback from people so far. So thank you to those of you who with have written in. Go and listen for free. Its called been there built that. For several weeks now, we have been doing our elevator pitch from here at hsn, the original tv network. Weve made some dreams come true and weve had a few disappointments. But today were going to find out again if our elevator pitcher maxz the cut. Theyre going to be pitch to go two executives from hsn to see if theyre going to get the chance to sell their product live here in a studio just like this one to 91 million households. We wish them, i wish them the best of luck. Hi, danielle. Its j. J. Hi. Nice to meet you, j. J. Its so good to see you. And youre wearing your product. Yes. You are ready to go and it matches your shirt. What is the name of your company . Seal shoe covers. Lets start walking to the studio. Can you walk in those . Yes, of course. So youre going to pitch to two people. How do you feel . Im nervous, but im happy and excited and thank you for this opportunity. Thank you for making something and coming on this show. Its so great. You watched this as a kick starter campaign, right . Yes, i did, late 2015. So you dont have to be nervous because you already know that people love this had. So lets go get in there. Dow a great job pitching. Thank you so much. Come on in here. You go first. Okay. Hi. Hi. How are you . Thank you for having me. My name is dean yell king. Im from miami, florida. Have you ever been surprised by a discussed rain storm and couldnt get to your car because of a flooded parking lot and you dont want to ruin your favorite shoes or even worse, having to change your entire outfit to accommodate those ugly, bulky, clumsy rain boots . I have the solution to this rainy shoe problems. Seal shoe covers. Its a fashionable lightweight durable water resistant shoe protector. It protects any style of shoes from rain, mud or snow. Seal shoe covers goes over any style of footwear, scandal, wedges, tennis shoes, even high heels. Seal shoe covers are not only practical, theyre convenient. They fold into their own selfcontained pouch, making it easy to carry in your purse, briefcase or you can clip seal to a childs backpack. Seals are easy to clean. Wipe off with a wash clothe or simply throw in the washing machine for a quick refresh. Seal is a new goto for a rainy or snowy day. Oh, my god, danielle, that was like a commercial. I feel like you have paragraphsed that. Ye yes, i have. Seal shoe covers. And i think they are awesome. I particularly love the colors. I want to show you the shoes im wearing, high heels. What are you hiding underneath that . High heels. Oh, you guys have to see this. And theyre exactly how my invention is supposed to work. Yeah. Because i dont want to wet this. Once you wet this type of fabric, its ruin. Ruin your shoes. Okay. The shoes i have on right now would be a concern for me if i had to go outside. I want to hear your feedback. What did you think . How did danielle do . Well, first of all, i love the fact that you attacked a problem with a solution. And thats exactly what entrepreneurs are supposed to do. You told me the problem. You made it reflectble to me. And as my mind is going, what am i going to do about it . You came in with the solution. So very good pitch. Thank you so much. Thank you. What did you think of that . High demonstrationbility. Really good visuals. To see you come in with your shoe covers on and the reveal, right . The reveal is a heel. So you think about that. That was smart. Getting my pitch down. When you think about these, also think about help educate your customer. How should she select her size, right . I like that you covered the wide range of footwear that she can put this over. It really is limitless. If you have a foot, you can use it. And its not just she, by the way. She and he. These guys are going to decide if you get the chance to pitch this to their audience. Millions of people on hsn. Its for kids, too, right . Yes. This is where i with three kids think this is golden instead of having to carry their big shoes to school, they can put these on. Exactly. Any type of shoes. The tennis shoes that they take to school. Yeah. Hey, j. J. , we have one question that we sort of just need to ask that will help us make our decision. Sure. What do they retail for . 29. 99. All right. So were going to come right over here. I want to see this sign that says on air. So will danielle have a chance to to sell the shoe covers on hsn . Take a look. Yay congratulations. Congratulations. Oh, thats so exciting. Can i hug you . You can hug me, girl. Your dream is going to come true. Thank you. Thank you so much. So excited. Thank you. Congratulations. Thank you so much. Thank you. Oh, you did it. This is a dream come true. Thank you for this opportunity. Did you think it was dont thank me. Youre the one who created this awesome thing. Did you think it was going to happen . No. You didnt . No, no. I am surprised. And youve been waiting a long time. Yes. Who are you going to call . My husband. Hes the biggest supporter. Youre shaking. I am, i am. Its amazing. I want to cry for you. Were here at the collision conference in new orleans which has brought more than 25,000 people who are interested in whats new in technology. And i have sitting here with me now fal, founder of node, which is all about using Artificial Intelligence<\/a> to get you the best opportunities in your business. Good to see you. Thanks for having pe. Explain to me what node is. Imagine whatever application or device youre using, youre getting highly relevant recommendations for your next customer or perhaps your next state. We leverage ai to help you accelerate serendipity in a way that can be transformative to your life or your business. It love how you explain it. It says if google and linkedin has a baby. Pretty much. Our board member likes to say that, yes. Lets talk about using your resources. Node helps you with this, but also if you have employees. You have a whole base of people who you may not be tapping into in the way you should be. Yeah. How do you do that . How do you tap into all the knowledge and connections of your employees to get you what note can get you through ai. Sure. I think step one is ensuring that the priorities for your business of what those Key Opportunities<\/a> are that are going to take your business to the next level are clearly communicated across the organization. And what this will allow your employees to start doing is thinking about who do i know in my network to help my business achieve these goals . And so the first step is Clear Communication<\/a> around what the objectives are. The second piece is to then provide incentives or tools that can help your employees be much more efficient at understanding who do they know that could be relevant. I think a lot of Companies Use<\/a> this for recruiting to say we have a 1,000 bonus if somebody brings in a finders fee to find someone who works for us. I dont know if they think about it as much for opportunities when it is not related to that persons function in the company. It is important to break down those that might exist in an organization. We actually encourage everyone in the company, we are small enough at this stage, about 30 people, to have lunch with each other at least once a quarter. And they can go out, they can expense the lunch. Not only are they getting to know each other across different functions, they spend time helping each other attend each of their functional objectives or priorities. Im investor in a couple of comes. I have a letter that says these are the things i need. When you think about a ceo, a management team, sending Something Like<\/a> that out to the entire team. I will do that as well. I will communicate what my priorities well. Okay, send an email. I am specifically looking for an introduction to this potential prospect. Do you know anybody . Is there anything you can do about getting your employees to know how to use our prospects. They bring someone to the company and have a free lunch. At google we did this a lot too. I would always bring friends, family, people interested in working at google, bring them, host them for lunch. That was a great way for them not only to get a look and feel what the company is like but actually be able to have a centered around how can i help you, how can you help me. So the more people you get in the door the better. Part of my story for how i even started, i did an analysis of all the introductions that i had made of people i spoke to within my network and realized i had a knack for match making. It led to millions of dollars in acquisitions, investment, et cetera. All i was doing is understanding what are the priorities for this persons business, what are their biggest needs. Who do i know that might be interested in that opportunity but also they would get along, that they could be a great partnership. And i think when you get to your employees, sometimes people use that on the management level. But forget they can use it in the lower levels as well. Who knows who is in these peoples networks. Congratulations on your company and its growth so far. Thank you so much for stopping by. Thank you so much. When we come back, the pros and cons of offering awe onetime discount. And how you can turn your employees ambassadors for your brand. The line between work and life hasnt just blurred. Its gone. Thats why you need someone behind you. Not just a card. An entire support system. Whether visiting the airport lounge to catch up on whats really important. Or even using those hardearned points to squeeze in a Little Family<\/a> time. No one has your back like American Express<\/a>. So no matter where youre going. Were right there with you. The powerful backing of American Express<\/a>. Dont do business without it. Dont live life without it. Eleanor writes, do it makes sense to do a onetime customer discount for my store to make people get in the door . I would not recommend that. Your people or your customers will get used to that price point and it will be difficult to get out of that price point and sell more profitable products. You have to figure out what is the real purpose. Do sampling. Its better than lowering the price. Have them enjoy it. If you want them to come in for other reasons, create something experienti experiential. It will be difficult later on to come up out of. We now have the top two tips you need to know to help you grow your business. Lets introduce our panel and get their advice. Huntington Learning Center<\/a> she started with her husband after working as a school teacher. And a marketing consultant, chief engagement officer from beyond 360. Good to see you both. You have 300 franchises around the country . Yes. Amazing. Congratulations. Whats your tip. My tip is stay true to your core belief. We have been in business over 40 years. When you stay true to your core belief, that is to give every student the best education possible. And when you do that, the results follow. Have there been times when its been tempting to do something that is away from that belief and you have to get yourself back . I think so many things change in education but everything is the same. If you look at reading, reading is reading. And you have to stay true to that and make sure when youre working through it, kids are really getting what they need. Franchisees are getting what they need. Just having a north star, whatever it is. Totally. And everything comes back to that. Chelsea, millennial expert. Whats your tip . My tip is for small businesses, big businesses to start to think about their employees in a different light. To start thinking about their employees as Brand Ambassadors<\/a> and brand influencers. On behalf of the company that they are working for. How do you get to get to ambassadors without worried they might put something out there that is counter to your core values . So people might say, oh, this is really nice. We kind of just mull it over at their desk. And bringing the Company Culture<\/a> down. Our organization up to 550 billion annually. Because of retention, turnover, and training. An employee advocacy program, something thats enhancing the workplace. So you are empowers your employees to channel their inner entrepreneur, get create you. What campaign, what content do you think we should be sharing. Do you want to write that blog post, do you want to create that video, would you be happy sharing it on your social channels . Do you know employees that share marketing messages on their social channels get up to 24 times the engagement and interest through their personal channels versus the brand channels. Because they are talking to their peers. Thank you so much. Good to see you. This weeks your biz selfie comes from Justine Avila<\/a> who owns a jolie design in fort lauderda lauderdale. Take a selfie of you in your business and send it to us at yourbusiness msnbc. Com or tweet it to msnbcyourbiz. Include your name, the name of your business, and its location. We look forward to seeing them. Thank you so much for joining us. We love hearing from you. Email us at yourbusiness msnbc. Com. Check out msnbc. Com yourbusiness. We posted all the segments from today, plus a whole lot more for you. Plus, we are on digital and social media as well. We always put new content up there. And remember check out our podcast. Its called been there, built that. You can download it from whenever you get your podcasts. Remember, we make your business our business. Its Pretty Amazing<\/a> out there. The world is full of more possibilities than ever before. And American Express<\/a> has your back every step of the way whether its the comfort of knowing help is just a call away with global assist. Or getting financing to fund your business. No one has your back like American Express<\/a>. So where ever you go. Were right there with you. The powerful backing of American Express<\/a>. Dont do business without it. Dont live life without it. Morning glory, america. Im hugh hewitt. Coming up after the break, the attorney general of missouri and josh holly joins me. But first to discuss the singapore summit, the department of justice inspector generals report, and separations of families at the border, ive got three of the very best correspondents in town. Courtney kube of nbc news. 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