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Part 5 in a series of videos on what what Brian looks for in companies.

Transcription

Qualities business owners look for number five.

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

I’m gonna point out a few things if you’ve been watching this series on qualities that business investors look for.

One, yes, I have had a haircut. Okay, so that’s one thing you’ll notice.

Another thing, for those of you who are watching versus listening, those of you who are listening, none of this matters. Another thing that the people watching will notice is I’ve got a bloodshot eye, which is really disgusting. You can’t feel it though. This is another injury, for those of you keeping track at home, that Lucas the destroyer hit me in the head this morning. Probably with his head, I don’t even remember exactly what happened cuz he’s such a rambunctious two year old.

I always come on here with new scratches and bumps and scars and everything from my two year old. So this is a new one, so just in case if that’s throwing interview off.

Let’s talk about the things that business investors look for when they’re looking for somebody to partner up with, or somebody to a business to purchase.

This is number five, if you want to watch the other ones, go back and watch the other ones we’ve is a series that will continue. I pretty sure we’re just going to hit the top seven, we’ll see how it goes.

But this is number five, and it is called, CLUBHOUSE CLIMATE.

Now, when I’m talking clubhouse, I’m not discussing the hot new app. So there’s a social app that’s really popular right now here in 2021. That has to do with audio chat rooms that you can get involved with. That’s not what I’m talking about.

But I’m talking about the type of thing that that app creates, which is a clubhouse type environment, you have a club situation fit into your business, this is fabulous, there’s very little that can go wrong. If you have this setup and your business, if you can make it to where it has both and possibly elite flair to it or or a section of it that does but at least a feeling of belonging.

I talk about this a lot in my book, 9 Ways to Amazon-Proof Your Business, specifically chapter five, which is number five here. But chapter five and chapter six, discuss this belonging concept and having the subscription membership concept plugged into your business.

This is a major deal, I have two whole chapters referring to it, you can get a free copy of my book, by the way, if you go to AmazonProofBook.com, or you could purchase a hard bound version over at Amazon, Barnes and Noble or wherever books are sold. So you check that out.

But think about how powerful this is think about all of the businesses that you’re aware of that have a club feeling to them. And some of them they just have kind of a subscription model tied to them your costcos your amazon.com.

Yes, they have somewhat of a club, you know, Amazon Prime, and so forth. But it’s not really any way you don’t go there to meet people you don’t hang out, you don’t feel that you’re part of anything special. So I wouldn’t specifically include them just because they have a membership option, even though it’s very valuable to have something like that tied in with your business because you’re creating consistent flow.

But really, if you can create a club like attitude, Apple had this in the very early days when it was still a very out of the ordinary company. Not everyone had an Apple Computer not everybody had Apple products before it went fully mainstream had very much a club vibe that allowed it to continue in the marketplace on a very high level and sell items like computers that did not that they did not necessarily do a whole lot more than your average PC.

But because they had this different mystique about them because they had basically evangelists as they called themselves out there promoting them from the Macintosh on.

It was very much a club like environment, even to the point that people refer to it as a cult. And if you can get to that level, where you have almost cult like following within your business that is very valuable and something something that can’t be bought it’s not easily put together and it is not.

It’s not also easily destroyed.

Once it’s created, it brings on kind of a life of its own.

Harley Davidson has this. There are many brands that you can see out there that have this cult like following to them and when they become mainstream, it’s even more powerful.

But if you can have that early on in the in your business, as you’re making, as you’re building your business and get larger and larger, it’s it’s invaluable to an investor to come in and be able to play along with that process or to help that process along.

If they have experience in such a thing. I’ve actually worked with a number of companies that have this aura about them. And in fact, some of my clients I’m still working with, that I’m helping them to develop it more and more and create something bigger and better than even what’s there.

If you realize this, you realize the power of it, you can help develop it yourself, and you can attract more partners to be able to make it bigger and better.

So hopefully that makes sense. Tomorrow, we’re going to go over number six. So that’s tomorrow, number six, in our list of qualities of business investors look for come back then, in the meantime, get out there and let the magic happen.