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Mike DeLazzer is a serial entrepreneur who has started over 8 companies In 2006 he was inducted into the Chicago Entrepreneur Hall of Fame for his work as founder of GetAMovie Inc. which later became Redbox. Redbox has since become the largest video rental company in the world, with over 45,000 locations in the U.S. and revenues approaching $2 billion. Building on past success in the DVD kiosk industry, Mike co-founded New Retail LTD. In 2009 he was given a lifetime achievement award from the Collegiate Entrepreneur Organization for his work in supporting entrepreneurship globally.
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Podcast Notes

1YouTube generated podcast notes, please excuse any typos.
hi everyone and welcome to the ILP
0:03
Network I am carmine danesco your host
0:06
for the inventors Launchpad show you
0:09
know I'm pretty excited about what we
0:11
got going on today I met this gentleman
0:13
our next guest at an entrepreneurial
0:16
award ceremony just the other day in
0:18
Tampa and his speech he was a keynotes
0:21
creature and it just kind of touched me
0:24
he was speaking to the audience but it
0:25
seemed like he was talking to directly
0:28
at certain people you could see people
0:29
really absorbing what he was talking
0:31
about his story what's happening how he
0:33
came to be of his businesses how he is
0:36
the person that he is and it was just a
0:38
a great talk that I approached him and I
0:41
asked him hey man can you be on the show
0:43
today and to my you know he just says
0:45
yeah you know let's get it going he's
0:46
just such a nice all-around guy this
0:48
part is is that you have at some points
0:52
walked up and most likely used the
0:55
equipment that he is a co-founder of his
0:58
name is Mike the laser and he is the
1:01
founder or co-founder of red box and I
1:03
have him on the line let's bring him on
1:05
hey Mike you over there hey how's it
1:07
going carmine I'm doing good am I
1:09
correct in saying you were the
1:10
co-founder or founder of red eyes I
1:12
would say co-founder and there were a
1:14
lot of hands in it but you know my my
1:17
company before we merged with actually
1:20
red box as a McDonald's company and we
1:22
merged with McDonald's ventures my
1:25
company and we built the machine they
1:28
had been trying a similar product in the
1:31
field and wasn't doing very well so they
1:33
were looking for a better platform and
1:36
obviously we had it so they quickly said
1:39
let's get married yeah that kind of
1:43
undertaking is astounding to me I mean I
1:45
love to get into talking about just the
1:48
logistics of making that many machines
1:51
and testing and trials and tribulations
1:53
but let's uh let's step back and really
1:56
talk about you know before red box it
1:59
was were you always an entrepreneur
2:00
where you're always making things and
2:02
breaking things or starting your own
2:04
businesses yeah pretty much I mean I
2:07
didn't come from an entrepreneurial
2:09
background except my grandfather was
2:11
kind of a
2:12
my hero and he was a bit of an
2:14
entrepreneur and yeah I had in college I
2:20
was I was in a full rides football
2:22
scholarship to University of New Mexico
2:24
and kind of on my own at that point I'd
2:27
been tossed out of the house early a so
2:31
that was just the beginning of being
2:33
tossed out of many places but so I did I
2:37
got involved with some guys and who
2:39
owned a bunch of apartment complexes and
2:42
I told him he asked me if I would paint
2:44
you know the rooms and they became
2:46
available on I said hey sure so I did
2:50
but what I did is I actually went out
2:52
and bought like a 50 gallon drum of
2:53
paint it was pretty much milk you know
2:56
is the cheapest it probably cost me $50
2:59
for 50 gallons and I and I went to the
3:02
other football players I said hey I'll
3:03
give you 20 bucks you paint that room
3:06
and they're like chirps I got you know I
3:09
made a hundred and they made twenty and
3:11
I think I supplied the paint it was kind
3:13
of my first entrepreneurial thing going
3:15
hey yeah it's much easier when someone
3:17
else is doing the work so cool so I hope
3:23
you I hope you didn't ever tell them
3:24
that you were making a hundred bucks
3:25
that they're aligned me yeah well no
3:29
they were happy to get the money and I
3:31
was happy to get the help that's cool
3:33
that's really cool you know I find and
3:36
you know correct you are wrong I played
3:38
sports also in college football but it
3:41
seemed like I learned a lot of being
3:44
able to work with teams even if I didn't
3:45
like the people outside the football
3:47
arena I practice it seemed like you know
3:50
when you came together you were a team
3:51
and I carried that into the business
3:53
world does it seem like that when you
3:54
work with people yeah I think you know
3:57
to be a successful entrepreneur
3:58
especially a startup you got to be able
4:01
to draw people to your vision and many
4:05
times do it for nothing I mean I I've
4:08
had people on my team go I don't get it
4:12
because you're getting so many people
4:15
who do so much for free I don't
4:16
understand it and here's how are you
4:18
doing this and I go I ask and they're
4:22
and they're happy to help and it's true
4:26
people want to help people that have a
4:28
vision and are motivated and you know it
4:30
helps not to be a dud no you gotta have
4:34
some kind of personality that to talk
4:37
people kind of a Tom story Sawyer thing
4:39
when you talk people into painting or
4:40
not your own fence no I may have it
4:44
haven't think this is fun yeah well
4:47
that's true I mean having fun you know
4:49
helping people and obviously making
4:51
money there's nothing wrong with making
4:52
money and you want to be able have fun
4:54
and help people and it seems like you
4:56
have structured your businesses as
4:58
you've grown around that yeah to me
5:01
money's probably third or fourth on the
5:03
list I mean it's nice to have money
5:05
don't get me wrong but if you want to be
5:08
an entrepreneur just because you want
5:10
money yeah you know go rob a bank or
5:13
something I don't know I think it's not
5:15
satisfying in the end you get there and
5:17
go okay hey now what so to me it's more
5:21
about being able to accomplish
5:23
accomplish something that's not easy and
5:27
that's why you know I one of the things
5:30
you know people say well why don't you
5:32
speak about failing fast and you know do
5:35
a thing I'm speaking failing fast to
5:37
entrepreneurs I go no I don't believe in
5:39
that I don't believe you should fail
5:41
fast you should struggle like your life
5:43
depends on it because if becoming a
5:46
millionaire or successful is easy we'd
5:49
all be millionaires mm-hmm so yeah if
5:52
you want to fail fast at fifty things
5:53
until you get lucky you get one that
5:55
takes off great but I think you know I
5:59
know from my experience there were
6:00
twelve other people in the world
6:02
building a machine similar to my machine
6:04
but you know some of them got down the
6:09
road and hit a brick wall and didn't
6:11
decide to barrel through it some of them
6:13
had financial issues to it some couldn't
6:17
get traction they didn't say to do it so
6:18
eventually you know it became just the
6:21
Kemetic that were there yeah yeah yeah
6:26
yeah I totally agree you have to commit
6:28
I remember in your talk that you gave
6:31
just the other day you talked about you
6:34
know that you had to believe yourself
6:36
like you couldn't let people get you
6:38
down you know tell us
6:40
what about the story and how you came up
6:41
the idea and how you struggle through
6:42
well it's funny I actually didn't come
6:46
up with the original idea I this is part
6:48
of it like to say this is like a forrest
6:50
gump story but I had an importing
6:54
company and we were building these
6:56
specialized speakers for a company in
6:58
California and we had built one device
7:02
form and they wanted to see the next
7:03
device so they came into Chicago that to
7:06
see us and you know we had a like a
7:08
Monday morning meeting so these guys
7:09
from California I don't know slept
7:11
pretty sure they didn't because one of
7:13
the guys that showed up was totally
7:16
wired I mean he was like but he was
7:18
definitely on something you know and it
7:21
wasn't religion so every time we started
7:25
to talk about the next product he would
7:27
blurt out something stupid and I was
7:30
like you know I look at him like okay
7:31
whatever and he was happened to be
7:34
sitting next to me and in the middle of
7:35
our conversation he grabs my arm and he
7:37
looks nice you should be in the DVD
7:40
rental business and I broke out laughing
7:43
is like hysterically I said all right
7:46
I'll bite why should I be in the DVD
7:48
rental business sound in the importing
7:50
business I do electronics yes I don't
7:53
know
7:53
and then I laughed even harder I'm like
7:56
what so you know I have the kind of
7:59
brain that I don't sleep very well
8:01
probably five hours a day so and if
8:04
something's warming in there I don't
8:05
sleep at all so this guy's utterance was
8:08
almost like it was either from you know
8:10
a voice from God or a maniac and I
8:14
couldn't figure out which but it kept
8:15
saying usually so it's just so happens
8:18
that the next day I happen to go to
8:20
Blockbuster with my son from it was home
8:23
from college and we're in a real long
8:25
line of like 20 people waiting to get
8:28
served and there's these two high school
8:30
kids grab-assing that behind the counter
8:32
and I'm a hot-headed Italian like type-a
8:36
to the max and all of a sudden I I
8:39
scream out as loud as I can help I'm
8:42
trapped in Blockbuster and everybody in
8:46
the line breaks out laughing and then I
8:48
don't know where it comes some other
8:50
teenage kid with a manager status and
8:52
goes oh sorry about the way
8:53
sir and he kind of walks away and I go
8:56
oh I'm not authorized to help you I'm
8:59
only authorized to say I'm sorry every
9:02
laughs again and I said somebody should
9:04
put you out of bed and then I go I'm
9:07
gonna put you out of business
9:10
all the people were laughing took about
9:12
five steps away from me because they
9:14
thought this guy's gonna explode and
9:16
then I can feel my son's hand on my
9:18
shoulder real quiet he's calm calm can
9:22
you guys take it easy dad
9:23
take it easy snow the things okay I go
9:28
back into my office and I talk to my
9:30
partner and I said you know that crazy
9:33
guy that said we should be in the in the
9:35
DVD rental business and I am i part of
9:38
this yeah that was some crazy and I
9:40
said well he may have something and then
9:43
my partner looks to me like I'm out of
9:45
my mind so we did we spent like three
9:49
weeks trying to figure out what we
9:50
wanted to do so we figured the best
9:51
thing to do is make a little kiosk then
9:54
we would put in airports that because at
9:57
that time you know VHS was still
9:59
prevalent and the CDs were coming but
10:02
their DVDs were coming but the only
10:04
people have had the players were these
10:05
we calm road warriors the guy to travel
10:08
over the country and their computers had
10:10
those so we figured okay a great place
10:13
to put it in airports because these are
10:14
bored you know and I happen to go out
10:19
like after three weeks or spending time
10:21
trying to figure out this business go
10:23
out to a customer from my importing
10:25
business and I get my planes delayed for
10:31
four hours on San Jose you know and
10:34
again type a cage cage
10:36
raccoon you know and I'm going crazy so
10:40
I walking up and down the concourse just
10:42
trying to waste four hours and right
10:44
away I see this kiosk renting DVDs
10:47
called in motion
10:49
they're still in business but they don't
10:50
do DVDs but and I thought I won damnit
10:53
so I call my partners at France I go
10:56
somebody's way ahead of us on this they
10:58
got you know ten stores and different
11:00
airports and I said it's it's a you know
11:02
let's trash this idea so I decided to
11:06
see how much money
11:07
these guys were making on my brilliant
11:09
idea so I pulled up and shear across
11:11
them the aisle from them and I sat there
11:14
for three hours staring at these two
11:16
guys and they started to get really
11:18
nervous because they would look up and
11:20
they would just see this any in staring
11:21
a gun and they're gone
11:22
what's he gonna do you know and I was
11:25
watching them and over the course of
11:27
four hours they've rented three DVDs for
11:30
five bucks apiece and I was like thank
11:32
God we're not in this business because
11:34
it would be ruined but it just so
11:38
happened I would see the right next to
11:40
an ATM and I would there were a line of
11:43
people coming through the ATM and some
11:45
were really quick and some were really
11:47
slow but nobody was ticked off and I had
11:51
one of these Reese's Peanut Butter Cup
11:53
moments you know chocolate peanut butter
11:55
you know Chuck you know a DVD machine
11:58
DVD machine so I spent some time
12:01
thinking about it on the way flight home
12:03
and when you know I come in the office
12:05
Francis is in there and yeah I'm so
12:08
excited I still it's a machine
12:10
and he's like what's the machine I go
12:12
it's a machine he goes what are you
12:14
talking about ago the kiosk is a machine
12:16
and he goes it's a machine so we had
12:21
this giant bowling bulletin board on the
12:24
wall and we within a half-hour you know
12:27
I would write something down he would
12:28
write something down take a pen out of
12:29
my hand and within a half-hour we did a
12:33
hundred percent of what red box is in a
12:36
half hour with the 100% - you know some
12:40
of the mechanical parts of it but no
12:42
being able to rent from one place having
12:44
Alton and return another hand all the
12:46
inventory online we developed something
12:48
called a quick load module where you
12:50
could you know ship in a module and
12:52
stick it into the bottom of machine and
12:55
the robot would pick and put it in to
12:56
inventory Wow
12:58
and our plan was to let UPS or FedEx
13:01
deliver them and not even have anybody
13:02
in the field because the the robot could
13:05
put it into the box and when FedEx
13:08
swapped the box off they just returned
13:09
to us then that didn't happen because
13:13
you know red box proper wanted to have
13:15
more control and do some other things
13:16
but anyone good so we did everything
13:19
within
13:21
a very short period of time so we're
13:23
sitting there no money no ability no
13:26
experience in the bin in the movie world
13:29
and but we we looked around and what was
13:33
funny is that previous to that we had
13:36
gone to the CES show at Vegas it's
13:40
Consumer Electronics Show and on the way
13:44
home our plane our flight was overbooked
13:46
so nobody wanted to you know nobody
13:50
wanted to step up and finally they said
13:53
we will offer you two free tickets
13:54
anywhere in the world if you say you'll
13:57
do this
13:58
so I said me and my partner both said
14:01
this and like what do we do these
14:03
tickets I know it's keep in a drawer
14:05
three weeks later we find a company in
14:07
Italy that's vending something similar a
14:10
robot it's not DVDs VHS but they were
14:14
thinking about giving into it so he took
14:16
those those free tickets and flew to
14:18
Italy and then talked to them and what
14:22
was funny is that the guy asked me well
14:25
how many machines do you think you're
14:26
going to put out and I was like I don't
14:29
know maybe 2005 years or something like
14:32
that and everybody broke out laughing
14:34
and I said okay there must be some kind
14:38
of you know language barrier here what's
14:41
what's so funny and they said well we've
14:43
been doing this for 10 years and our
14:46
largest customer has four machines oh my
14:51
god
14:52
yeah so they were like crazy crazy
14:54
American you know out of your mind it's
14:57
not going to happen we now had bread box
15:00
now has 45,000 machines by the lambda T
15:02
and so you know we we get this machine
15:06
and we contact a couple of local grocery
15:10
stores and one of them says yeah we'll
15:12
do a test so we do a test machines
15:14
horrible it's not running right and but
15:18
we decided there's been a little money
15:20
on PR which is what money we had he said
15:23
let's see what gets fixed somebody who
15:25
wants to help us because we need a lot
15:26
of help a lot of money and
15:30
Crain's Chicago Business it's a big you
15:32
know business paper wrote an article
15:35
bought us and you know we're sitting
15:38
there struggling trying to make these
15:40
machines work and all of a sudden
15:41
somebody shows up my door and he says
15:43
I'm with select Ron and select Ron is
15:46
like a 15 20 billion dollar company that
15:50
has manufacturing in like 20 different
15:53
countries around the world and he says
15:55
you know I saw this thing on Crain's
15:57
Chicago Business we have a division that
15:59
does they were robotics and we lost our
16:02
largest customer and they're gonna shut
16:04
this 500,000 square foot facility down
16:07
and thousand people out of work so I'd
16:11
been test to try to find something so oh
16:14
you know he says I like your idea well
16:16
we like it too so what was interesting
16:20
is that we have n worked a deal out were
16:23
they offered to do about a half a
16:25
million dollars worth of development for
16:29
$29,000 and so we're sitting there yeah
16:34
let's go let's do it so we're building
16:36
this machine and then shortly after that
16:41
we get another knock on the door you
16:42
know we're not clunky just hey I saw
16:45
something about something I'd saw your
16:47
machine I talked to somebody I thought
16:49
about you're here
16:50
I'm with McDonald's ventures and we're
16:53
looking for a machine and we've been
16:55
looking although I've been everywhere
16:57
and we happen to be eight miles from
16:59
their corporate headquarters so the guy
17:02
comes in and he says I'd like to look at
17:05
your machine and I said great but he's
17:07
kind of arrogant you know and he said
17:09
you know I've been all over the world
17:11
and nobody really has what we wanted so
17:13
I I don't you know I don't know what if
17:16
you're gonna have anything and I just
17:17
said I don't give a what do you
17:19
think
17:19
and he just click together really I
17:21
don't because I know what I have so the
17:27
guy walks back and sees our machine and
17:29
right away he's like what's that I've
17:31
never seen that before
17:32
what's that I've never seen it you know
17:34
after about five of those he in five
17:37
minutes he walks he says I got about
17:39
seven a phone call then he comes back
17:40
and says can I have the president of
17:43
McDonald
17:44
ventures and the other guy you know want
17:46
a burning redblacks for a long time
17:48
come over tomorrow to see your machine
17:51
I'm like yeah whatever so they pop over
17:56
and you know our machine was it held 900
17:59
DVDs and they came over and said you
18:03
know it's great machine but we want a
18:06
machine that does 500 and I said no i
18:09
think 900 is the right number and the
18:12
guy said listen we're mcdonald's we've
18:14
had marking surveys we know everything
18:17
500 and I said yeah but if you look at a
18:19
blockbuster he's got like two thousand
18:21
titles I said if we could do less less
18:24
than half of that ads gonna be valuable
18:26
so they said no you need five hundred so
18:30
they had been given a deadline and to
18:35
put machines in the field and they said
18:37
you have to remake this machine
18:40
literally totally from the ground up in
18:42
eight weeks and I said it can't do it
18:46
you know and he said well if you can't
18:49
then we're moving under the next guy
18:50
because we have in order for us to get
18:52
our money we need that and so we said
18:56
okay and then we push the guys at select
18:59
on and they did a massive massive job of
19:01
getting anything ready
19:03
and finally they call us up and say
19:04
right tomorrow's eight weeks we need
19:07
we're going to see what you guys have on
19:09
the machine and I said well it's not
19:11
ready and they go well it's got to be
19:14
ready nice alright so my partner I fly
19:17
out there with them you know we're
19:21
sitting there and a machine looks great
19:22
it's a Redbox machine perfectly you know
19:24
like exactly like you see and we turn it
19:27
on and the thing just sits there like a
19:29
refrigerator does nothing and but we
19:33
show them the facility and we shall
19:34
return to do a dog-and-pony and get this
19:36
great great great can't use you so let's
19:41
have a closeout meeting and a half-hour
19:43
upstairs or 10 minutes upstairs and you
19:48
know I meant close-up meaning you mean
19:50
that no hit the Royal jet so they all
19:54
left and I said to the Machine and then
19:56
as I was walking up I was stopped
19:59
outside the room they were in and I said
20:01
think of something think of something
20:03
and I remember there's posterized seen
20:06
before that had a crane swallowing a
20:09
frog but the Frog wasn't all the way
20:11
down he had his arms ripped around the
20:13
the cranes throat so it couldn't be
20:15
swallowed and it says never give up yeah
20:17
so I so I walked in there and pretty
20:22
abrasively said you know when are you
20:24
leaving tomorrow and they said well or
20:27
when you leaving I said today I said no
20:29
I said I want 24 more hours
20:32
I said you you know you can see you've
20:34
seen what we've done in eight weeks in
20:36
24 more hours I'll have the machine
20:38
running and and kind of sat down and my
20:44
partner looked at me like oh man you
20:46
just burn this this whole opportunity so
20:50
the guy says okay we'll come back
20:53
tomorrow so yeah now we started talking
20:56
to people the software guys and they
20:58
said listen all the drivers are so
20:59
messed up it's gonna take three weeks to
21:01
fix this and I said unacceptable so well
21:05
and this is back in 2001 to 2005 so you
21:11
know Skype zoom you know all his
21:13
FaceTime done that stuff is really
21:14
prevalent it was peer to peer but really
21:17
only used by people so what we decided
21:20
to do that I don't think there have been
21:22
done before is our programmers were in
21:23
India and so we took a webcam and opened
21:26
up the Machine and pointed it in the
21:28
machine and there were like 10
21:29
programmers in India watching the
21:32
machine as would freeze up at a certain
21:33
place and and they write over code and
21:36
then they send new code in and they did
21:38
this all night long several times you
21:40
know we get a phone call from India and
21:42
they say hey we're trying to contact you
21:44
guys and my partner like dead asleep you
21:47
know yeah so finally people start
21:50
showing up it's morning
21:51
you know McDonald guys show up and it's
21:56
still not working and I'm like damn it
21:58
so I told my partner I said you got 10
22:00
minutes to get another build in there
22:01
and it goes it's not gonna help nice and
22:04
just do it I'll stall him
22:07
so I stall them for half-hour came back
22:10
and
22:10
partner just put the next build in and
22:14
hadn't had a chance to test it and so
22:18
the guys go okay smartass let's see what
22:20
you you know let's see what you've done
22:22
in a day no way alright so click on the
22:25
machine and all of a sudden the machine
22:27
starts to turn and do what we call
22:29
calibration test which there's a plaid a
22:32
bunch of platters in the machine and
22:34
they all turn at once in the check thing
22:36
and it never ever did that before ever
22:40
so when they started to move I went holy
22:43
and so this thing does this
22:49
calibration test and stop up and then
22:53
you know I said all right here goes I'm
22:56
going to try to amend the DVD so I
22:57
pushed the rent and this thing speeds up
23:01
and the robots moving Oliver reaches out
23:04
I'm sitting there going come on baby and
23:07
it grabs the DVD tractors it in brings
23:10
it to the vending station pops it out
23:12
and I put in my hand I'm just sitting on
23:15
tamp so I decided to get cocky and I
23:18
said I'm gonna return it so I'd returned
23:20
it did the same thing the machine does
23:23
its job and then shuts down and I'm
23:26
still just looking at the machine he
23:28
says me and the machine nobody else is
23:30
in the world but I kind of caught myself
23:33
one oh yeah there's people here so I
23:34
turned around I was looking up two guys
23:36
from McDonald's and their mouths were
23:37
wide open
23:38
Wow and my partner's wide was a wide
23:42
open too so I took the opportunity to
23:44
just go for their throat and said
23:46
alright you've seen what we can do in in
23:49
24 hours I said that you decide to go
23:51
with your other supplier I said we will
23:53
bury you you go look at this facility I
23:56
can do 200 units a week I said you could
23:59
do 50 in a month I said and if you don't
24:02:00
go with us I know money's gonna follow
24:04:00
and we'll get money and we'll put
24:07:00
machines out there and you'll be working
24:08:00
for somebody else someday and the guy
24:11:00
goes I said you got no choice but to go
24:14:00
with us and he says you're right so we
24:18:00
after a little haggling we signed a
24:21:00
contract and then merge the company so
24:24:00
kind of Kenneth like had to be you know
24:27:00
it had to be it's unbelievable that
24:30:00
things that fell into place I mean I
24:31:00
know you also were there to capitalize
24:35:00
on it if you say you know fast thinking
24:37:00
but bright is amazing the things that
24:39:00
yeah we're people people would say to me
24:41:00
man you're lucky and I said you're right
24:44:00
I'm totally lucky I said but if I
24:46:00
wouldn't have busted their hump to say
24:48:00
you give me another 24 hours they would
24:51:00
have walked out the door and I would
24:52:00
have been going yeah so yeah I I agree
24:56:00
one percent you took it you took it I
24:59:00
don't even say the word advantage you
25:00:00
were there to capitalize on what it was
25:03:00
happening and you've you made a point to
25:05:00
do it you believed in yourself on the
25:06:00
product I mean that is an awesome story
25:08:00
yeah so you know it quickly became I was
25:12:00
the Frog being swallowed by you know
25:13:00
makan was the creme McDonald's being the
25:17:00
Frog being swallowed by me and they knew
25:19:00
it it's just your partner I would have
25:26:00
loved to have seen his face on that
25:28:00
machine turned on and started moving
25:29:00
yeah yeah well both of us were just and
25:32:00
I literally when I said holy no so I
25:38:00
meant that oh yeah no it's you know but
25:43:00
you know if you take all the sleepless
25:45:00
nights and worries and I owed more money
25:47:00
than I had to my name and all this other
25:50:00
stuff you know like I said if it was
25:55:00
easy to be a millionaire everybody'd be
25:57:00
a millionaire and sometimes you just got
26:01:00
to say hey you know it's it's kind of
26:04:00
like when Cortes went to South America
26:07:00
to conquer the Incas when he landed
26:09:00
first thing he did was burn all his
26:11:00
ships yeah so he told his people you got
26:14:00
one way office we're not going on these
26:17:00
ships again you got one way through it
26:19:00
it's victory not that Cortes was a great
26:22:00
guy but yeah it's just that mindset of
26:26:00
saying I you know there's no turning
26:28:00
back
26:29:00
yeah well I love that you you saw the
26:32:00
things that fell into place and you said
26:34:00
you know this is kind of meant to be I
26:36:00
mean if you just got
26:37:00
running into walls and running into
26:39:00
walls and there was nothing moving
26:40:00
forward I mean then you might have
26:42:00
rethought it but like you said nothing
26:45:00
is easy not at all I mean you busted
26:47:00
your butt's doing it but you knew that
26:49:00
you were making progress
26:51:00
yeah and the so when we McDonald's whole
26:56:00
deal was they were gonna put these in
26:58:00
McDonald's restaurants and you know so I
27:02:00
was saying stupid idea you know I'm this
27:05:00
guy from nowhere one we have three guys
27:07:00
in our whole company and they got
27:08:00
McDonald's and I could God not a smart
27:11:00
idea so the guys you know while we're
27:14:00
doing our due diligence they're paying
27:16:00
us a lot of money to do nothing says all
27:20:00
right you know I'm tired of hearing
27:21:00
you're saying it's a stupid idea what
27:23:00
would you do and I said grocery I said
27:25:00
where's every blockbuster grocery I said
27:28:00
why they had why they next to a grocery
27:29:00
because that's what people want to do on
27:32:00
the weekends they get grocery they get
27:33:00
some entertainment and he says alright
27:36:00
go ahead and try to find a store so it
27:40:00
just so happens the guy I was dealing
27:42:00
with on our test machines was booted up
27:44:00
to the corporate so I called him up and
27:49:00
and I said hey we just merged with
27:52:00
McDonald's I said you know Ronald
27:54:00
McDonald right I go that clown doesn't
27:55:00
do anything half-assed
27:56:00
I said I'm here I said we're gonna be
27:59:00
huge in this I go and I'm gonna send you
28:04:00
a contract for they had 2,000 stores I'm
28:07:00
gonna send you a contract but I gotta
28:08:00
tell you I've already sent one into
28:11:00
Walmart and her lawyers are looking it
28:13:00
over and if they get back to me first
28:15:00
I won't be able to touch you for at
28:17:00
least a year and a half now these guys
28:20:00
hate Walmart so within 30 minutes he's
28:23:00
signed a contract for 2,000 machines now
28:27:00
the truth of the matter was that I
28:29:00
didn't have a contract in a Walmart but
28:33:00
he thought I did which is the important
28:35:00
thing and so I come in with this
28:38:00
contract after like like several hours
28:41:00
of sixty million dollar contracts on
28:44:00
machines cuz I had originally said hey
28:46:00
do you got the money in the guy goes hey
28:48:00
we're McDonald's we got money I'm like
28:50:00
great so I show him this contract and he
28:54:00
goes and I said you don't sound
28:58:00
happy he goes I'm not why he goes we
29:03:00
don't have that kind of money I said
29:05:00
you're kidding me you told me you had
29:07:00
that kind of money he goes nobody has
29:08:00
sixty million dollars laying around
29:11:00
unbudgeted he he had they had to go then
29:17:00
contact queen star which we had contact
29:20:00
before we even met min goblins and said
29:23:00
okay we think this is cool you know
29:25:00
they're like yeah no one's gonna then
29:26:00
from no one's gonna buy rent DVDs from a
29:29:00
vending machine and now there's sixty
29:33:00
million dollar contract out there two
29:34:00
thousand stores and they go there's a
29:36:00
business so they instantly put in you
29:39:00
know half money for it and bought half
29:41:00
the company so I was kind of responsible
29:44:00
for premature premature e Li ejecting
29:48:00
the business out of McDonald's hands
29:50:00
because they didn't have the money to
29:52:00
good to do it anyway that's amazing
29:57:00
stuff
29:57:00
the guys from McDonald's were probably
29:59:00
shaking head going who is this guy yeah
30:02:00
well they didn't yeah they weren't happy
30:04:00
to have me around it was it was like you
30:09:00
know I'm not a corporate guy I'd
30:10:00
probably been fired for more corporate
30:12:00
jobs that got fingers but yeah I didn't
30:17:00
stay there long either because I didn't
30:19:00
really want to be around that
30:21:00
environment that wasn't me and you know
30:25:00
they kept looking at me like I had three
30:26:00
heads and Ozzie whatever but yeah then
30:30:00
in many ways they were happy to have me
30:32:00
around yeah yeah there you know again
30:36:00
you need the corporate guys but it's
30:38:00
just not the way you did things and you
30:40:00
need to have to have that mix but yeah I
30:42:00
could see that well you look at I mean
30:44:00
so what you look at any big business
30:47:00
no big business has developed any
30:49:00
business they just buy a business there
30:50:00
they don't want to you know he said well
30:52:00
I don't they just if they like what they
30:54:00
see over there want to just develop
30:55:00
themselves and that's not their deal
30:57:00
they get so large they have no concept
30:59:00
out to make something happen and that's
31:00:00
why you know I tell entrepreneurs
31:04:00
find something that somebody needs in a
31:06:00
big business because then I could
31:08:00
develop themselves and they'll damn well
31:10:00
pay more than they should when you show
31:12:00
up on the doorstep most likely so yeah
31:15:00
you know dad hey hey real quick did this
31:18:00
so did any of the red box machines make
31:20:00
it into McDonald's so what happened is
31:24:00
the franchisees you know they're rolling
31:27:00
in cash and they're like yeah we don't
31:29:00
think we want that machine here I don't
31:31:00
know don't it's not for us no even
31:33:00
though they didn't have to pay for it
31:34:00
their wisdom give it to him so if I
31:38:00
think you're probably about out of the
31:39:00
45 thousand they're probably a thousand
31:42:00
maybe more not many more but you know
31:45:00
because in the end they realize grocery
31:47:00
was the deal for them so and we also you
31:51:00
know contacted Blockbuster said hey
31:53:00
machine pretty cool nah there's a
31:56:00
company called Hollywood video they were
31:57:00
buying another something or their this
32:01:00
movie gallery I think what a company
32:03:00
called Hollywood video 900 million
32:05:00
dollars they wanted to pay and I said
32:07:00
dude give me 50 give me 50 million
32:10:00
dollars and you'll own the market yeah
32:12:00
man it's good and I said to them you
32:15:00
know some mistakes you just can't
32:17:00
recover from what 900 million dollars
32:23:00
vaporized somewhere I don't know where
32:25:00
but geez so my question is what happened
32:29:00
to that guy that said you should be in
32:31:00
the day I don't know I don't I don't
32:33:00
want to hear from him because he might
32:34:00
say I owe money or something but I bet
32:39:00
you he has no idea he said it yeah you
32:42:00
know he's all eyes rolled back in the
32:44:00
head channeling some other some other
32:47:00
thing that's but that's the thing I told
32:51:00
entrepreneurs all the time you know have
32:54:00
a baseball bat in your hand and when the
32:55:00
ball comes swing you know cuz don't be
32:58:00
afraid to swing cuz sometimes you know
33:01:00
you don't run sometimes you get beamed
33:03:00
but you know if you don't take a swing
33:07:00
you're not gonna do anything that's for
33:09:00
damn sure
33:10:00
yeah there's no doubt I know you get a
33:12:00
lot of entre NORs contact you for some
33:14:00
you know maybe they just throw in a
33:16:00
question at you or for some some advice
33:17:00
what are some of the the major things
33:19:00
that you hear from entrepreneurs well I
33:24:00
think a lot of them you know let's say
33:26:00
they're starting out early and they're
33:27:00
saying you know I'm I'm afraid to do
33:29:00
something I'm afraid to do this and my
33:31:00
parents are telling me you know I
33:33:00
shouldn't do this and and I'm like you
33:36:00
know what your parents don't want to see
33:38:00
you hurt you know and the possibility of
33:41:00
doing this you're gonna get hurt and
33:44:00
like I said in the speech pay no
33:47:00
attention to these guys because the your
33:49:00
your support structure and I use it with
33:51:00
quotation marks is actually the group of
33:54:00
people that instill the most fear in you
33:57:00
because you're afraid of disappointing
33:58:00
them I could care less if i disappoint
34:00:00
carmine no sorry but i disappoint my my
34:05:00
wife and my kids or my grandkids you
34:07:00
know different animal so I think that's
34:11:00
one thing the other thing is you know
34:14:00
people sometimes entrepreneurs say why I
34:17:00
need this I need that and I'm gonna do
34:19:00
this so well
34:20:00
sometimes on a speech I'll say okay what
34:22:00
do you need for a successful startup and
34:25:00
some of the UH
34:25:00
business plan I go no financing no sales
34:30:00
no factory no product no and then
34:38:00
they'll go whoa what the hell's left and
34:41:00
I go a customer that's all you need for
34:44:00
successful business is a customer you
34:47:00
can go get all the other afterwards
34:48:00
if you promise if you know what you're
34:51:00
talking about you promise the right
34:52:00
things people weren't happy to make you
34:54:00
you know take the problem out of their
34:58:00
hands and I bet I've started at least
35:00:00
three businesses that way where some guy
35:02:00
would say this you know that can I'm
35:04:00
just guys really screwing me up I'm
35:07:00
gonna I'm in trouble I'll go I'll take
35:08:00
care of that really yeah yeah and I do
35:12:00
and you know but that's that's the
35:16:00
really thing as besides a customer needs
35:18:00
to be a paying customer you can't have a
35:21:00
guy that's not good pay the bills like
35:23:00
that's really all you need because all
35:25:00
the other stuff
35:27:00
you can hire people that you can figure
35:30:00
it out I mean yeah a business plan is
35:32:00
kind of a road map but what's the old
35:36:00
saying you know the war plan never
35:38:00
survives the enemy yeah
35:40:00
first contact yeah cuz like I thought it
35:44:00
was gonna be this no it's not that it's
35:46:00
something else yeah yeah well the fun
35:49:00
part and and I deal with a lot of young
35:50:00
entrepreneurs and inventors it is fun
35:54:00
being able to pass on and and give some
35:57:00
of your experiences and you are great
35:59:00
the way that you talk that you know and
36:01:00
I I have to applaud you because at the
36:03:00
at the awards I mean we were at I mean
36:05:00
there was a line of people waiting to
36:07:00
speak with you and you stayed there and
36:10:00
you talked to every one of them well
36:13:00
like I said the beginning of my speech
36:14:00
you know it's great to go and slap
36:16:00
people on that are glad that see it cuz
36:18:00
usually I wake up in the morning my wife
36:20:00
lets me like oh you're still there so
36:25:00
know if you know what the reason I do
36:27:00
this and I don't ever charge anybody
36:29:00
anything you know when I do these things
36:31:00
first of all they don't have a lot of
36:33:00
money and I'm not gonna take it but I do
36:35:00
it because I like I said before I didn't
36:37:00
come from an entrepreneurial background
36:39:00
and I was on I was on the tightrope
36:43:00
myself and I had nobody to talk to
36:47:00
I had no background nobody to say listen
36:51:00
this is gonna happen this is gonna
36:53:00
happen just head down keep going and as
36:57:00
a leader you can't let your the people
37:00:00
you're leading know how crappy things
37:02:00
are because as soon as they see fear in
37:05:00
your eyes you know these guys are
37:06:00
generally sheep they're gonna look for
37:09:00
someone else to feed the Sheep and you
37:13:00
know so you got a and my wife didn't
37:15:00
know how bad things were because no I
37:17:00
would say that you know Friday afternoon
37:20:00
after work we'd pop a beer and I'd
37:22:00
celebrate this the the collection calls
37:25:00
would stop Sunday night I didn't sleep
37:28:00
at all because I knew they would start
37:30:00
up again and I would sit in the fetal
37:32:00
position in my bed quivery and so people
37:36:00
say oh you're fearless no I'm not
37:37:00
fearless it's just
37:39:00
I just realized that it's not gonna help
37:42:00
anybody to get upset about it you say
37:44:00
we're here yeah keep going yeah you know
37:49:00
I've heard similar stories from some top
37:52:00
guys that have really hit it big but as
37:54:00
you said there's no overnight success
37:56:00
it's just when we start hearing about
37:58:00
the success yourself I mean there's a
38:00:00
lot of work you know a lot of things
38:02:00
that go into there's no overnight
38:03:00
success it's multiple years yeah and
38:06:00
most you guys most of the successful
38:08:00
guys I know been bankrupt several times
38:10:00
yeah no that's why my wife has all the
38:13:00
money by the way now so we're someone
38:16:00
that mean she won't let me invest in
38:17:00
anything cuz I would be broker any I
38:22:00
mean I believe my own press do you find
38:28:00
that that you have to stop yourself
38:31:00
sometimes like you probably hear about a
38:33:00
lot of different business and things
38:34:00
like that
38:34:00
oh yeah very vice I so I again a lot of
38:39:00
entrepreneurs little time I took me and
38:40:00
I am more than happy to talk to anybody
38:43:00
I mean I would give my card out and you
38:45:00
know I I'll call up and and I get a lot
38:47:00
of calls from you know other like
38:50:00
political things people I don't want a
38:52:00
robocall stop and so you know answer the
38:56:00
phone I go yeah all right you got two
39:02:00
seconds from the guy goes oh I met you
39:04:00
at this campus and I go okay change
39:06:00
modes now I'm no longer talking I won't
39:09:00
argue there's some fragile you know some
39:12:00
fragile kid in that some guy who's
39:14:00
calling me to see if I want more
39:15:00
insurance and you know we'll talk and
39:18:00
they'll ask questions I was kind of
39:21:00
shocked that you've answered the phone
39:23:00
and wasn't your secretary I go well
39:24:00
usually my Butler answers the phone
39:26:00
cause but but but I I and I tell his
39:31:00
kids ago you can have my opinion or you
39:36:00
can have my money but you can't have
39:38:00
both because I said I will give you an
39:41:00
unbiased opinion of what I think and
39:44:00
what you should do but once my money
39:46:00
gets into it I only care about my money
39:48:00
I don't care about you anymore
39:51:00
and 90% of time the more than happy to
39:53:00
take my opinion what it's worth
39:55:00
yeah well I mean definitely definitely
39:57:00
somebody like yourself that's been there
39:59:00
I love the story you know you weren't
40:01:00
one of those guys that folded just
40:03:00
because some corporate guy said
40:05:00
something you know you knew this is the
40:06:00
vision that you had and luckily you did
40:09:00
stick to your guns
40:10:00
yeah I mean there was a point in time
40:12:00
where you know my wife knew things were
40:14:00
really nasty financially and she said
40:16:00
you got to stop this you got to stop
40:18:00
this DVD stupid idea thing and I said
40:22:00
you know this is my high-school
40:25:00
sweetheart that I've been I met and
40:28:00
dated when I was 16 and now we're almost
40:30:00
married forty years and I said if you
40:34:00
forced me to do this our marriage will
40:37:00
not survive and she was like why listen
40:41:00
well because when this thing hits the
40:43:00
street and I see it every day I said
40:46:00
it's gonna poison our relationship so
40:49:00
she was like hmm
40:51:00
we're already in the party in the river
40:54:00
we might as well just keep cross well
40:57:00
everything was but she was very
40:59:00
supportive that mean yeah she's just not
41:01:00
an entrepreneur so there were times
41:03:00
where she's like it's all going down
41:05:00
yeah there is there is a different
41:07:00
mindset there's no doubt about it
41:08:00
nothing that that's wrong with that
41:09:00
mindset but there is that mindset of
41:12:00
entrepreneurial you just know that you
41:13:00
have to keep pushing forward to just you
41:15:00
just have to Danna I you know I live on
41:17:00
Marco Island and you know I live on the
41:19:00
bay there's a sweet water birds need to
41:23:00
see them the young ones try to catch a
41:25:00
fish and they miss and you know and I
41:27:00
was telling entrepreneurs you know I've
41:28:00
never seen an awesome baby Osprey a tree
41:30:00
gone I suck at this you know I'm
41:33:00
depressed I'm a shitty-ass know all
41:37:00
they're thinking is fish fish fish fish
41:39:00
fish fish and I said you need to be more
41:42:00
like an animal than a human being when
41:44:00
it comes to your desire for so much more
41:46:00
you need to say the goal is the fish I
41:49:00
don't care about the fact that I missed
41:51:00
that fish the goal is the fish that's
41:55:00
great that's really good that's that's
41:57:00
that's something that you know again
41:59:00
people need to realize they have to
42:01:00
put their head down and just keep going
42:02:00
you know you you either move forward you
42:06:00
keep doing it because as soon as you
42:07:00
start hesitating it seems like you know
42:10:00
you put that negativity negativity in
42:11:00
your mind right it bad well and you know
42:15:00
everybody's watching all the people are
42:18:00
in the operation they're all watching to
42:19:00
see that you're going down with the ship
42:22:00
no and I'm more than happy to do that
42:25:00
it's you know it's part of being a
42:28:00
leader sure but it's also lonely yeah
42:33:00
there's no doubt about it I mean making
42:34:00
those decisions they're gonna go either
42:36:00
way there's no doubt all right
42:39:00
well Mike listen man we've gone a little
42:42:00
bit over time I really appreciate you
42:43:00
being on with me today some great
42:45:00
information I love the story just gives
42:47:00
everybody that knowledge that you know
42:50:00
they can do it and the way that you talk
42:53:00
the way to you tell the story really
42:55:00
makes you makes you think that just an
42:58:00
awesome but it must have been an awesome
43:00:00
time it makes you think any idiot can do
43:05:00
I was thinking just to have those things
43:09:00
fall into place I know there was a lot
43:11:00
of stress and worry but for me to hear
43:13:00
the story I'm like wow it was meant to
43:14:00
be I mean you know it was no joke
43:16:00
no I and I say that I'm not sure why it
43:20:00
was meant to because you know it's like
43:22:00
all right who cares whether we deliver
43:24:00
the shift of Hollywood throws out at a
43:27:00
cheaper price I'm not a big fan of
43:31:00
Hollywood no I think that you've opened
43:35:00
the door to a lot of other businesses
43:38:00
people foresee that delivery of things
43:40:00
you see it in the airports now you see I
43:43:00
believe that you know you started a
43:44:00
whole different type of business that
43:46:00
could be delivered like that yeah I mean
43:48:00
it's you know machining doesn't have a
43:51:00
headache doesn't get drunk doesn't call
43:53:00
in because it's sick doesn't care what
43:55:00
it doesn't have a kid that's sick but
43:57:00
whatever it's there it does it and with
43:59:00
a little software tweaking it does it
44:01:00
back there next week you know I think
44:03:00
we're all gonna be looking for work one
44:05:00
of these days there's no doubt about it
44:09:00
I mean when you can walk up to a kiosk
44:12:00
and buy a cupcake 24 hours a day you
44:14:00
no we're in trouble right yeah all you
44:17:00
need is cupcakes at 2:00 in the morning
44:22:00
right but I think that a lot of it shows
44:24:00
that it can be adapted you know the
44:27:00
public just needs to adapt and if the
44:29:00
equipment works that first time they
44:30:00
walk up and that's why you were so
44:32:00
serious about getting that to work
44:33:00
correctly if it works that way they
44:35:00
adapt quickly and then it's expected
44:38:00
yeah and you know when I was in high
44:42:00
school they had this book called teacher
44:43:00
Shaq and he said eventually people just
44:45:00
won't be able to process the speed
44:46:00
change it's totally opposite people are
44:49:00
like oh yeah this machine will directly
44:52:00
throw something in your brain and you're
44:54:00
like is that all
44:56:00
can I do anything else order me a pizza
45:00:00
[Laughter]
45:02:00
though no no I appreciate we're probably
45:06:00
gonna get some some questions from this
45:07:00
episode I would love to be able to send
45:09:00
them over to you or maybe we're on the
45:11:00
show it's more than happy to yeah as
45:13:00
long as they're not asking to my address
45:15:00
and some robocallers hey give me that
45:20:00
guys I was in a speech once and this kid
45:24:00
goes so how much money do you have and
45:26:00
I'm like hmm I can't answer that
45:28:00
question and the guy says listen because
45:30:00
I I'm not going to answer that question
45:33:00
[Laughter]
45:37:00
you must you must get when you're
45:39:00
dealing with the younger generation you
45:40:00
must get some good questions it is it is
45:42:00
kind of fun yeah you know what and you
45:45:00
know what the reason that most
45:47:00
entrepreneurs are young is because they
45:49:00
don't know what they don't know
45:51:00
you get older you know all the things
45:53:00
you know the horror of the world to
45:55:00
befall you but when you're young and
45:57:00
like a no I didn't I've never run into
46:00:00
that so no very good no doubt about it
46:04:00
so all right so let's close up the show
46:06:00
today I do appreciate you being on if
46:09:00
any of you who do have any questions or
46:12:00
comments please send them over go on to
46:14:00
inventive launchpad dot-com or go on out
46:17:00
to iTunes or Google Play leave us a
46:19:00
comment or review I would truly
46:21:00
appreciate it
46:22:00
I thank Mike for being on the show again
46:23:00
today we invite him back I'd love to
46:25:00
hear some more stories and see what's
46:27:00
happening what's got going on for the
46:29:00
future
46:30:00
I appreciate it Mike and we'll catch you
46:32:00
next time on income fetcher you take
46:35:00
care

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