Overview
On this episode of Build Your Network, Host Travis Chappell interviews Tommy Beretz, serial entrepreneur, comedian, actor, and producer.
Topics Discussed:
- About Tommy Beretz
- He’s most excited about Project Punchline.
- They host live events, mostly comedy.
- They donate the proceeds from each event to charity each month.
- When someone’s laughing they forget about their problems momentarily.
- How did you get started?
- He was working at a bar and then decided to start a business.
- He wasn’t good enough to be a bartender, he had to do gruntwork.
- He decided to start a business and started reading books.
- Took his business from an apartment to over 200 employees and multi-million dollars.
- He was 25 when he started his first business.
- What was your first business about?
- A swimming pool business – all commercial based.
- He knew a little bit about pools.
- What kind of a learning curve was there scaling your business?
- The curve was huge, he knew nothing about business.
- He studied successful entrepreneurs, read books, and got mentors.
- The learning curve cost him both time and money.
- It’s important to learn through your time and money.
- Were there any moments when you thought you should quit and get a job somewhere?
- Yes, absolutely.
- Your family often wants you to take the safe way and can sometimes be the biggest naysayers.
- How big of a role did putting yourself in the way of entrepreneurs play?
- A huge role, you have to put yourself around other people who are successful.
- Go ask successful people how they got there.
- What were some ways you figured out how to make your business a sellable asset?
- They key components of a sellable business:
- You have to make money.
- You have to have recurring revenue.
- How much time do you spend on the business?
- How much market share do you have in the industry?
- He had to get the right people for the right roles.
- Your employees don’t care about the business as much as you do.
- Salespeople are the number one thing that will change your business.
- They key components of a sellable business:
- Did you figure out everything on your own?
- It came from books and asking the right questions.
- What was a book that was paramount to your success?
- Rich Dad, Poor Dad.
- All of Grant Cardone’s books.
- The Success Principles.
- What do you think about monetizing your passion vs. using previous experience.
- Your passion isn’t going to pay you.
- If you try to monetize your passion, eventually your passion becomes a job.
- There’s a difference between passion and belief in a product.
- Your dream job is something you’d be willing to do for free.
- Tell us more about Project Punchline.
- He loved stand up comedy and he wanted to build a business around giving back and stand up comedy.
- He took his passion and experience and built a business around it.
- How can people support and find Project Punchline?
- Find them at projectpunchline.com
- They sell merchandise and for everything that gets purchased a portion of your purchase goes to a cause.
- What does the next decade or two look like for you?
- Take project punchline to the next level.
- He’s working on some screenplays for movies.
- The next decade will be dedicated to what he’s passionate about.
- Do you believe that what you know or who you know is more important, and why?
- It has to do with both – you need to know stuff to be valuable to who you know.
- Your connections are ultimately the most important.
- Every great athlete and businessman has a coach.
- So many people are short-term thinkers.
- How do you feel about paying for masterminds, mentorships, and coaching.
- It’s priceless. It’s so valuable he’s willing to spend uncomfortable amounts of money to be a part of them.
- There are all walks of life in a mastermind and that helps you.
- If you invest the money in a mastermind or coach it’s going to pay dividends.
- He’s most excited about Project Punchline.
The Random Round:
- What profession other than your own do you think it would be fun to attempt?
- Coaching – because you’re helping people get to where they want to be.
- If you could sit on a park bench with anyone for an hour who would it be, and why?
- Steve Jobs
- He had a lot of business insight and life insight.
- How do you like to consume content?
- Audiobooks
- Give us a glimpse of your morning routine?
- Wake up early
- Go to the gym
- Meditate and say affirmations out lout
- What is your go-to pump up song?
- Eye of the Tiger from Rocky
- What is something that you are not very good at?
- Execution
- What is one place where we can find you the most?
- Instagram – @tommyberetz
Tweetable Quotes:
- The world rewards action.
- Go ask successful people how they got there.
- If you invest the money in a mastermind or coach it’s going to pay dividends.
Resources Mentioned:
Buildyournetwork.co – Podcast website
BYN.media/fb – Facebook Group
Rich Dad, Poor Dad – book by Robert Kiyosaki
The Success Principles – book by Jack Canfield
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