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Ep. 510 Peter Taunton episode artwork

Jul 7, 2020 43 min

Ep. 510 Peter Taunton

from The Daily Grind Podcast Hosted by Colin Morgan

Peter Taunton is a pioneer in the fitness industry. In 2003, he had a vision for Snap Fitness: to create an affordable, 24-7, results-driven gym differentiated from the impersonal, expensive big-box experience. Today there are Snap Fitness franchises in 2,500 locations in 26 countries. And Taunton, CEO of Lift Brands, didn’t stop there. Taunton is an expert at understanding consumer desires and fulfilling them. In recent years, he has acquired and founded several brands to round out the consumer-fitness experience: 9Round, Farrell’s, YogaFit, STEELE Fitness, Fitness On Demand. Together with the Snap Fitness brand, they comprise the world’s largest wellness franchise organization, serving 165 million workouts and counting. Taunton, who prior to founding Snap Fitness owned nine America’s Fitness Centers, has designed a franchise-development operation that is the envy of the industry. He leads with infectious enthusiasm, which attracts prospective owners from all over the world. He provides them with affordable financing, world-class support and an easy turnkey process. Most importantly he teaches them his own management philosophy, “Success is 10 per cent what happens to you and 90 per cent how you react to it.” Taunton’s accomplishments have been well-recognized by the business community. In 2010, he was named an Ernst and Young “Entrepreneur of the Year.” His companies have also been featured for six years running in such prestigious industry lists as Entrepreneur 500, Inc 5000, Top Global and Franchise 500. For Taunton, it comes down to one word: passion. He has it, he teaches it, and the results speak for themselves. Even as his operations expand, he remains ever-committed to providing owners and members with the tools and programs they need to reach life-changing goals. Today I have over 6000 locations across three wellness brands in 28 countries. Connect With Peter Visit: www.liftbrands.com Today's podcast was brought to you by Proton Mail. Get 20% off an annual subscription when you visit protonmail.com/grind. Today's podcast was brought to you by Skillshare. Get 2 FREE months of premium membership when you visit skillshare.com/grind.

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Ep. 510 Peter Taunton

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Good morning everybody and welcome back to another episode of The Daily Grind. Today we have an awesome episode lined up for you All where we're sitting down with Peter Townton. Peter is a talented entrepreneur He has started several businesses and is one of the most successful people in the fitness industry in the United States So as always be sure you have a pen piece of paper sit back and really enjoy today's interview with Mr. Peter Townton.

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It's writing character driven short stories again. So go ahead check those two classes out yourself right now It's absolutely amazing and one of the best things about Skillshare is how affordable it is Especially when compared to pricey in-person classes and workshops and especially right now an annual subscription is less than $10 a month And you get to start with two free months of premium membership You heard that right two free months two months absolutely free of premium membership where you get a chance to explore your creativity When you visit skillshare.com forward slash grind again that is skillshare.com forward slash grind you get two free months of premium membership So there is absolutely no reason not to take advantage of this offer right now Go ahead and visit skillshare.com forward slash grind Hey everybody and welcome back to the podcast joining us today on the daily grind is mr. Peter Townton Peter is a pioneer in the fitness industry in 2003 He had a vision for snap fitness to create an affordable 24 7 results driven gym Differentiated from the impersonal expensive big box experience today There are snap fitness franchises in 2500 locations in 26 countries and Peter the CEO of lift brands didn't stop there Peter is an expert at understanding consumer desires and fulfilling them in recent years He has acquired and founded several brands to round out the consumer fitness experience including nine round barrels yoga fit steals fitness fitness and fitness on demand Together with a snap fitness brand they comprise the world's largest wellness franchise organization serving a hundred and sixty five million workouts and counting Peter who prior to founding snap fitness own nine america fitness centers has designed a franchise development operation that is envy of the industry He leads with the infectious enthusiasm which attracts prospective owners from all over the world He provides them affordable financing world-class support an easy turnkey process Most importantly he teaches them his own management philosophy success is 10% what happens to you and 90% how you react to it Peter's accomplishments have been well recognized in the business community in 2010 He was named an Ernst & Young entrepreneur of the year, but for Peter it comes down to one word passion He has it he teaches it and the results speak for themselves even as his operations expand He remains ever committed to providing owners and members with the tools and programs they need to reach life-changing goals today He has over 6,000 locations across three wellness brands in 28 countries and today everyone we get to hear that story Which is absolutely amazing. So be sure as always you have a pen piece of paper sit back and really dive deep in today's interview with mr.

Peter Townton enjoy well Peter Townton welcome to the daily grind my friend. How are you? I'm doing great and pleasure to be here this morning. Of course Peter pleasure that you're here for people being first introduced to you Who don't know you if you wouldn't mind just kind of sharing a little bit more as to who Peter is and what is that you do?

Yeah, what brought me to the space what brought me into podcast was really Becoming aware of social media and and I was a little bit taken back by what I call that there's a lot of fakes out there And it's not that I had to make my stand but I saw a lot of fakes out there talking about The journey and a lot of it was just business theory and not not practical on hand Business fundamentals and so that's what prompted me to get into space for those of you that are meeting me for the first time I'm a self-made guy and if you had met me 35 years ago, I would have been giving you a towel and a locker key So segue that into 35 years of hard work And there's a long narrative along the way, but I went from handing out towels and locker keys to building one of the largest wellness brands in the world So I always say I'm living proof that the american dream is alive and well And and I can share with you what that journey looks and feels like Yeah, how did you get into the wellness space? How'd you get into the fitness space? Well, you know what? I mean, it's When I was young when I was about 13, I picked up a racquetball racquet for the first time and that was my that's what put me into the the health club space the facility and It was a sport that I gravitated to gravitated to fairly quickly and I ended up becoming a touring pro for 12 years I was a sponsored player with a company called Ekilon So I was able to travel around the country play racquetball It opened my eyes to the country but more importantly it put me in an environment You think about the health club space it is the energy is fairly high people are fairly positive So it's a great environmental work to work in and I know at the time that I that I take it to the level that I did Well, of course not but it felt like like a great gig Right and and it's not what I wanted to do my whole life when I was a kid I wanted to be a game warden because I love the outdoors, right?

I thought man, this would be a great job. I'm not sitting behind a desk. I'm out here in the wild I love it. Well, I figured then I thought they don't make any money So that's shut down Transit that quick Did I lose you?

I lost it for five seconds. Okay. I hear you now, so okay That's why we can cut it. So don't worry.

Yeah, that's what editing is all about Um, can you uh just finish your last thought there just I can kind of yeah So when I when I was younger, I wanted to be a game warden because I love the outdoors And and it didn't take me long to figure out that game warden don't make a lot of money So I quickly transitioned out of that into who knows what but I knew it wasn't going to do that, right? No, yeah, so why the fitness base obviously you knew that wasn't gonna make money What's how did you learn the business? Like how did you know that this is what you were gonna jump into? You know what that's a great question and I say all the time, you know what the A students work for the C students Yeah, I quit college my junior year and I quit college because I was at my parents I came from a family a background where my parents made me pay for my own college Which which I'm an advocate for looking at what you got to own it, right?

So anyway, I felt like I was digging this whole and and what I was telling especially young young young people look Sometimes when you're digging a hole the first thing you need to do is stop digging So for me, that's what I felt and I was literally my junior year in college I was having breakfast with my twin brother and uh and I said screw it screw it I play on my book shut. I was studying business statistics I said screw it I quit and my twin brother looks at me his eyes get a little bit big, right? And he says what do you mean you quit? I said I'm done.

I'm done with the shit and about a minute later He closes his book. He says I quit too and so we quit college the same day And and we stayed in the dorms through through spring semester We never told our parents and then we never went back. We never went back to school We moved down to Orlando, Florida We played what they called the Sunbell tour of a racquetball and and then eventually we grew up and figured we had we better You know get to work and I had an opportunity to come back and run a failing health club And that's really what what opened the door for me the club that I had played at when I was a kid I knew that they were losing money and the day that I left for Orlando I sat down with some of the owners and having breakfast and I said to the guys and I was friends with all of them because keep in mind I was in that club every day and I'm not talking about going in there for an hour a day You know you and I talked before we aired about athletes, right? I was in that club anywhere from three to five hours a day and I wasn't in there I wasn't in there just bullshit with people.

I was working I was I was putting in my time in the court I was putting my time in the weight room and in the aerobic studio It was you know, I had to do what I had to do to play at high level So anyway have breakfast with the guys and I said look you're not gonna like what I have to tell you But the guy you have running your club is not your guy And they said what do you mean? I knew these guys were feeding the club They were each there was five owners the club was burning about 200 grand a year cashflow So every year these guys were throwing in $40,000 and I knew that they were they were upset about it So I said look he's an actual guy. He's not engaged with the members He's not engaged with the club and he's not engaged with the community So I said if you ever want to turn it around give me a call about a year and a half later my phone rings It's these guys and they said hey Peter I'll tell you what we'd like you to come back and run this club I'll tell you a $16,000 a year But if you turn this you make the club profitable, we'll let you buy us out with the profits And that was what I needed, okay? That's and they didn't know what they were dealing with You know you and I talked earlier about discipline and tenacity and no quit So, you know never underestimate the heart of a lion, right?

And I just needed a window So I mean I remember I remember one of the first or second day that I went to work I told the entire staff hey come tomorrow come to work ready to clean Because the club needed a deep clean from corner to corner When I got there in the morning everybody was there and and this woman steps forward She says hey Peter Before we get started I'd like to say something and I said well by all means go ahead She says we we don't clean Okay, now that was you know what that was a character building moment for me because so think about that I'm like day one or day two on the job On woman steps forward I have the entire staff there and this woman steps forward Her and four others and they say um excuse me we don't clean So that is a moment of truth right? Everybody's looking and what am I going to do? And I thought about it for about five seconds and I said and you also don't have a job And I pointed to the door So she left that was probably the last thing she was expecting But I tell you what everybody else in that room you could hurt a pin drop And I keep in mind I was like 22 years old I was the youngest I was the youngest employee of the whole staff Right, so I mean they're looking at who was this guy rocking the mullet You know just Anyway, but I got the attention of everyone and I told everyone look from this day forward We are not going to be average we are we have higher aspirations So we are going to we are going to deliver on our promise We're going to clean this club we're going to eventually try to remodel it And you know the rest the rest is history I was able the club didn't have any money And that's another interesting point the club I asked the owners what's my marketing budget And they said to me Peter What do you mean what you're marketing budget? Maybe you're going to hear us we feed this thing every year There is no money there is no marketing budget.

There's nothing There's no money to do anything right? So rather than quit I got creative and I said everything about what can I do With nothing and so I went and I remember I went into the floor at the ceiling store And I said look I need some carpet Now I don't have any money but I have memberships And again we did some trading and I did that with multiple carpet stores I did it with painters I did it with electricians And I was smart about it too I started in the front lobby because when people walk into the door I wanted them to know that something has changed right Because when you're taking a 40,000-square-foot club If you dabble a little bit in every corner people don't notice the change But if you start at one end and people say wow you know this looks really really nice Well I so I started putting money into the club number one but never too more importantly I got to know the members I knew them by name right I made a point to be by the front desk and and nothing was off limits And I learned that from my father in the grocery store when I was a kid That my father he would you would see him on the checkout stand You would see him carrying out groceries you would see him shoveling the sidewalk He didn't put himself above anything and that's and that's one of the life lessons I had many lessons I learned from my father But some of those lessons I learned early on are you can't put a value on them There were such beautiful lessons and they were so relevant into how I live my life today How long did it take you to change the culture within that gym and like Earn the respect or maybe not so much how long did it take but like what were some of the things you did to earn that respect? Well it started obviously I couldn't have the first reaction of everyone It couldn't have gone there couldn't have been a better circumstance for me because they knew I'm in business they knew I was not afraid I mean when I fired her Actually there were three people that got fired that day that chose to walk out Okay I turned to my assistants and I said after the meeting was done I said By the way who the hell did I just fired right I didn't think what we did right So but I had to send that message they knew I meant business and they knew that I was not that I was gonna that I was determined to deliver my promise So that in itself it was just creating the culture The other part of the culture that I learned from my father was leaning in and doing and just not being putting myself above anything I would wipe down displays I mean I put myself above nothing I would hand out locker keys I would do it all right I would shovel the sidewalk I was engaged with the members and and I remember you know when I when I talk about getting after it when I was eight years old I used to sell popcorn in front of my dad's grocery store My dad had a small grocery store in my hometown And when I was eight in my family you did one of three things You were either in school you were in sports or you were working make no mistake about it Right he was my dad was gonna occupy your time to keep you out of trouble Right and anyway I'm selling popcorn in front of his groceries in front of his grocery store And my dad walks past me he walks about 35 40 feet past me and suddenly he stops He stops and he pivots and I'll be damned if he's not coming right back towards me Right now my dad was a big man I was just a little eight year old boy right He stops in front of me he said hey son how are sales And I said well they're not very good today dad right And I said but you know there's just not a lot of people in the mall I was given him my excuses as an eight year old would do And he said son the sales aren't any good because you're sitting behind the desk You got to get off from behind that counter and go go go get your business right So here's his eight year old boy now think about that I'm scared shitless right And I'm walking out and I'm pulling on the sleeve of adults and saying hey would you like some popcorn I just made it that's fresh it's really good blah blah blah Well suddenly my sales like doubled for the day right And so it was a great life lesson in through the lens of an eight year old To say look if you want to there's you can go down one or two pass you can either watch things happen Or you can make things happen So that was a great lesson for me and that's the way I live my life today I love that what a great lesson that is It is so my dad doesn't even realize but I'm like dad that was such a great lesson He's hearing the shit out of me but it was a great lesson dad Yeah because I think a lot of people would just let that child sit behind the desk And I think oh he's working so at least he's doing that Right at least he's doing something no that's right and then as a parent too I think that's a total cop out right and I'm not here to get righteous But I tell you what you know like kids kids and young adults right You know you reap what you sow right if you have if you said I would say if you see anyone could be an all-star when you set the bar at your ankles Right so you know what have some ambition get out there and make it happen No doubt so you start diving into the fitness business You're working in it you're making things happen You're probably learning the ins and outs When did you get the idea for snap fitness? And when I sold I ran the health club so that one health club that I had Once I got to the point where I had 51% equity in that first failing club I went right back to the bank I refinanced it to give myself a little breathing room I bought out all the partners right Refinance and I got some breathing room I did that for another 12 years And when you start with nothing you're fearless right So I leveraged that now I had I got a loan I built another club Now I have two clubs playing off one loan I did that seven times and then when I got to the about 40 I sold those clubs right And I had about three and a half million dollars to my name That was my life savings That's that's what I had to show for myself for you know Whatever 20 some years of hard work And when I sold the business one of my one guy that worked for me who was the great guy You know how sometimes you're fortunate you meet someone That if a hand grenade came in the room they dive on it for you Yeah, I've had the privilege of about 12 people like that That I've had the privilege of working with One of these guys called me says hey I can't stand who you sold the company to Right and I gave him I made sure that he had a great comp plan And I said oh come on you know just suck it up you can do it He goes no no these guys I don't like it He said would you consider building me a club?

I know you don't want to run the club but would you just consider building a club And I said no about four or five times and finally I said look I'm gonna do it But here's what I did Instead of having swimming pools and climbing walls and child care and aerobic classes and racquetball courts The club kept getting smaller and smaller And pretty soon I had this club that was four to five thousand square feet And instead of having 60 employees I had two So I was mildly intrigued by it I built the club And what was amazing is I wanted to have a point of difference Right so it was 24 hour access no contract Everything that you would need to get fit But really not a lot of frills no child care and pools things like that Well I sold enough memberships in 90 days to cash hold the business for the year All right now Colin I didn't have any idea it was going to be that successful Okay I was mildly surprised and intrigued more than anything And that was in an urban market And after 90 days I knew I had enough memberships to cash hold the business for the year So I was financially kind of out of the woods and I was intrigued Well then I said I'm gonna build another one but I'm gonna build it in a mid-sized market A smaller market So I built another one and I'll be damn conned The unit level economics all fell into place The rent was not quite as high The overhead was not quite as high and I always tell people look It's not what you bring in the front doors what you take out the back door Well same the club behaved the same 90 days I sold enough memberships to cash hold for the year Now I said I'm gonna build a third one I built one in a town of 3,500 people Imagine that which is any little small town USA right One stoplight a bank and a small little grocery store let me tell I put one in a town like that same thing 90 days and that's an OBS 90 days and it was at that time that I knew I had a tiger by the tail And it was at that time so thank god that number one I had enough dry power I had about like I said three and a half million dollars in the bank So I didn't need any partners I was an expert within the space I knew that I knew that I could do it I knew I had the savviness to do it I knew I had the work ethic to do it And I didn't cut any corners I hired some of the best franchise attorneys in the country And so I didn't cut any corners right because I would say think small be small So I built the brand in a way that if I was gonna have hundreds of clubs I knew that I would not implode right Now if you sat there if you would ask me 15 years ago Peter Did you ever think you'd have 6,000 locations spread across three brands in 28 countries I would have told you no I don't think I'm gonna grow with that big right Because who would say that in the right mind You'd have to be you'd have to be extremely arrogant to say that But I would but I would say I didn't think it was gonna be as big as it is But I knew I was capable of doing it and I treated that I knew that I had the ability to build one of the largest wellness brands in the world So I knew it I was I was fearless Because like I say when you start with nothing you're fearless You know what the bottom feels like you live there right? So you're not afraid of it Now as you become older and you become more financially And you start hitting more and more home runs and you start accumulating some significant wealth I just did that I just wrote this on my Instagram Look never never bet the business or another way to say it's never bet the farm On a business right don't be one of those guys that accumulates You know a nine figure net worth and you see them five ten years later and they're broke Why because they thought they're gonna do it again They you know they bet the farm on their second grand slam And it ends up being a strikeout and before you know it You know it's all gone through personal guarantees and whatnot So you know I talk about that as well as how do you how do you manage a lifestyle How do you keep your sanity how do you keep that life balance between You know your family your faith and yourself Were there people and mentors that you kind of turned to during those times and still do To kind of help you with the education process I mean obviously you had the the foresight to get some of the top attorneys And you like you did a lot of the the right things early on did that come from leaning on others You know again and I don't know why you know I've got a really strong faith And when I sit today and reflect about my my my life Especially when I started working but even going back to those eight-year-old boy memories Right and why some things happen the way they did I'll tell you straight up Business a lot of business is just common sense Common sense and it really it boils right down to that You just got to stop and think you got to make sure that the product that you're presenting to the public that it's relevant And and here's the biggest challenge is some people You know if you think you're the smartest one in the room all the time You're dead in the water right there, right? So for me I I fundamentally I think of what I want the product to look like like for instance in that fitness when before I opened my first door I said what is the what is the with the customer of one? What does that business experience feel like what does that customer experience feel like right?

Make sure that I'm I'm on point for every aspect of that customer experience of a quantity of one Once you have that button down now say what how do I scale this to if I had 400 members or 500 members? So but you got to start in that one place of what does excellence look like and then you have to figure out a way to To create systems and processes so you can gain momentum and trajectory into building a club that is cash flow positive Now once you have a club that is that is that is killing it blowing the doors off now You take a step back and you say how do I replicate this business into another one and I never said You know what once again common sense I didn't say how do I build this club of one and Expand it to california. Okay. I mean shit.

There's a lot of country between minnesota and california, right? So I said how can I build some clubs within two or three hours of where of minneapolis, right? So I got that feeling and once you can build a club three four hours So you can no longer get in your car and go fix the problem That's how you know you created a great franchise concept is when you can fix problems remotely and that you've got systems and processes in place To where you can you where you can see what's on the horizon because sometimes the light at the end of tunnel is a train So you've got to you got to make sure that when you see these things that you can react accordingly Before they before you've got a raging fire on your hands So totally so what am I calling you know what it's it's common sense it goes a long way and you know I hate to understate it like that But there's so many times people get so caught up and in the business side of it and just say look slow down take three steps back Number one number two take a deep breath and let's just think about fundamentally What are you trying to accomplish for your customer each day? Just get back to the basics and then from there dig yourself out It's really you know it's really interesting how you got into it because I think so many people Have an idea or think that they're an expert assert in an area and want to start a business And I think that there's a lot of value in what you did whether it was intentional or not But going into a business that already is established.

It's already there You see how you can fit in and help them they give you revenue sharing from that like everything built Do you feel like there's a lot of opportunities more opportunities like that for people there are And I'll tell you what you know I do a lot of mentoring and consulting today and and I'm shocked and I say it all the time fear fear is a dream killer All right, and let's be real fear manifests itself in the six inches between your ears Okay, fear is self-inflicted So if the first thing you need to have is confidence in yourself, right? Number one and you can't be you know fear is typically what if I fail? You know what for real brother if you're not failing you're not trying hard enough, right? I mean, I don't know I can't I cannot tell you one person that I know that's accumulated any real wealth That it doesn't have you know dozens of stories of road ration and trials and tribulation and perseverance I mean that is just part of the gig, right?

And that's why I tell people you know Steve Jobs said it great He goes look you gotta be a little bit crazy to want to be and get into business It's a true statement because you're gonna you you've got to fight every day. It's hard work It's gut-wrenching. It's it's stressful as hell and you know and you and the problem is you've got to endure it Over and over and over again, you know businesses they you don't just start create a business And the financials are up into the right from day one It's you know, there's a lot of there's a lot of stress and agony and perseverance that takes place along that journey And every one of those those hardships every one of those character building moments is what defines you And I always say anyone can run the company with the wind at your back Okay, when things are great and easy anyone can do it But it's how you act in times of adversity where your character is defined and that's where all the learning experiences take place And it's true in business. It's true in life.

It's true in everything, right? So don't shy away from it lean into it and understand what the hell is going on How did I get here and what can I do to not put myself in this place again? Do you know what I mean? Once again once again common sense use your head, right?

Use your head think about where you're at and that goes with the good and the bad How did I get here if it's a good experience? How did I get here? How do I replicate this, right? It's not there's no such thing as dumb luck.

Think about your process. That's my documentation in life documentation of business. It's key Yeah, what are some things you know someone listening who is fearful who does lack that confidence? What are some things to regain that?

What are some things to regain that confidence in that mindset that it takes? It's a process, you know, it's a process and it truly is because people that that generally lack confidence It's not just you can't just grab them by the shoulder square off of them and say look suck it up It's not that it's not that right so you got to be able to pull them aside and say look understand you're thinking about I don't know the light that you're putting yourself in but look you got to we got to change your thought pattern because you know what You're capable of doing this and believe it or not the first step of becoming an entrepreneur The first step of it is just saying I want to be an entrepreneur. I want to be my own boss There are some people that that thought never enters their head. Okay, so you got to tell me look You're more than what you think you are.

So let's just start right there You're more than what you think you are and then you explain fear and what that is and and then tell them Here's what I want you to think about yourself What what and write some things down about yourself that you love write some things about yourself that you think are going to carry you forward In the life of an entrepreneur write down those things that you think people appreciate about you Because I tell you what you cannot lead a company you cannot drive a company without people believing in you All right, because it starts at the top. I know for me. I'm a I'm a bit of a cowboy in my space Right and it's because I came from nothing. I'm a straight shooter and if somebody's wrong I'll say you know what you're wrong I'm not I'm not condescending but I don't sit and listen to people's bullshit because I've heard a thousand times Right and I'll tell them look you know what you're talking business theory.

You have nothing to back it up It's bullshit that jet is not yours. That's not your Ferrari quit fanning a hundred dollar bills It's one line of bullshit after another here sign up. Give me 12. Give me 95 a month and in six months You'll be making 10 grand a month.

You know what? It's good. It's bullshit, right? That's not how life is and that's not how businesses so it's so for people I just say look be strap on the chin strap.

It's gonna be hard work. You're gonna have some gut wrenching moments But that's business and appreciate those moments, right? Don't you don't need to run and I just appreciate it So I love how you brought up like there's so many posers I call them pose so many posers in the world How does someone in your experience right because I feel like you have the ability through being low to where you are now Like you can see it instantly but for those out there who whether looking for a mentor or looking for a coach or looking for guidance Like how do you how do you know if someone's a poser or if someone's real? What are questions they should ask?

What are things they should look for? Well, you know what? It's it's a here's an interesting part And I'll tell you this and I you know, I can't laugh about it all the time It's quiet quiet confidence number one, and I kind of like you know, Steve Jobs, you know He used to wear jeans and a black t-shirt every day. Okay I always say if you walk into a restaurant and you see three guys and suits and one guy and In faded jeans and flip-flaps and a t-shirt he's the one with the money make no mistake about it Okay, so it's you know what when you've done it So I'm a nine-figure network guy so my jet my my cars my homes I own them in fact that's one of the reasons I got into social media and the people that help me with my social media They said Peter you need to be more you need to be more Flashy with your thing so if you go into my social media, you'll see there's and there's only one There's a picture of my Ferrari in front of my Falcon 50 right and I did the shot And I turned away when I was done.

I said I'm never effing doing that again, right? Because it's not it's not I don't I am now believe me. I got it. You know, I've been blessed I I have a 10 million dollar lake home in Minnesota.

I have a three and a half million dollar penthouse here in Miami I have a jet I have a Ferrari I have an Aston Martin so I've I've got multiple real estate and business So that's my validation that hard work works. Okay, but I don't beat my chest with it People some people are get get really caught up in it And I say look all of this stuff is a result of hard work and understand I had the ability to put the right people around me because Winning in business. It's a team sport make no mistake about it Okay, you can't do it by yourself if you do you're a fool So you've got it You've got to surround yourself with very talented people that are like-minded for one So so for me and that's one thing that I've been able to do is just really lean in I always look for opportunities I'm getting ready to launch another company right now now that I'm out of the health and wellness space I retired as the CEO a year ago. I'm still chairman of the board and I still own roughly 44 percent of the company But you know now I'm off doing what my next thing is I'm not retired.

I think retirement is a bullshit word It doesn't even make sense anymore, you know who retires nowadays how boring right though. I always say I'm transitioning right I'm transitioning to my next thing. I don't um, you know, but life is a lot of fun and I appreciate it a minute of it, right? Oh, yeah, so what is that next thing for you?

What we'll get you excited to get up every morning right now? Well, I only do things that that really bring me joy, right? So, um, I have a luxury camp in the Serengeti lodge I love it right if you ever if you ever want to go out to Tanzania get into get into bush Give me how I really mean it. Give me a holler.

I got it. It's a great spot It's one of it was voted that one of the top 10 largest in Tanzania. So it's yeah, it's in a northeast corner of the Serengeti It's beautiful. Um, but so I do that.

I have a music festival. I like that right? I like music Um, and it because it's such a great energy that people around it are positive and it's it's entertaining, right? So but once again, remember I said earlier, I don't get the farm on anything So anything that I get involved with if it fails, it's not gonna change my lifestyle one bit But if it wins, I really like that.

I mean winners like the win, right? Winners like the win, right? So the next launch I make in it's a company called Elvar and it's a A CBD oil company that I'm literally literally my son and I are gonna be launching it here in the next Should be the next two to three weeks. So we're excited about it.

We put a lot of thought into it It's a we have a great product and once again, we didn't just want to come to the market and be another me too So we got one of the best botanists in the country who who creates the CBD oil and and it's literally I mean, there's an award. There's an award that is that has given out once a year She's won the award the last two years running I mean, she's probably the most knowledgeable about CBD oil and she creates her own. She's just so passionate about it So I wanted to leverage her passion and knowledge for CBD oil and leverage it into the consumer space So that that's that's my next thing. Amazing.

Well, we're all looking forward to it And where's the best place people can go to follow along on your journey learn more about you connect with you? Where's the best place everyone can go? Yeah, go to Peter Peter underscore town TAU and to and so just my name now You know why I'm not the creative marketing director. I don't have some flashy name.

So Peter underscore town That's my Instagram handle and that's why I do all my communicating So any post that's where it's in it and I do a lot I mean if you're if you're an entrepreneur out there and you're feeling like you're stuck Or you just need a little push or you need a little guidance. I offer that so you know right now I do a lot of that throughout the week I don't charge anything for it unless you're corporate America if you're corporate America I charge a thousand an hour But I don't need a hundred percent of it to charity so my own founding so I'm not I'm not in this for the money But what what lights my fire is really helping other young entrepreneurs or older entrepreneurs help them find their way through some of the challenges And road rash that I've experienced in my 35 years in business Well, we thank you very much for it I'm gonna share that link to make it super simple but for everyone But be sure you visit Peter on Instagram and now Peter the way we end the show here on the daily grind Is we're gonna give you the floor and you have the opportunity to share with the audience a thought of the day So one thing or one thought we can all go home with today You know what one thought of the day and it's a thought that you shouldn't have every every day That you know what you're gonna have life is gonna throw twists and turns at you and it's not it's not easy some days You're a cruise director some days you're a firefighter and regardless on those great days or days of adversity Just understand you're gonna get through it learn from adversity and appreciate the great moments that you have in your life Yeah, I love that great message to end this off and everyone if you enjoyed today's episode Be sure you subscribe to the podcast drop a like share this out with a friend who you feel like it really benefit from listening to today's episode We will be back with another one until then call them working signing off and always remember to keep on grinding Today's episode is brought to you by policy genius with everything going on right now A lot of people are asking if it's even possible to buy at life insurance at all The short answer to this is yes You can buy life insurance during a pandemic and if you have loved ones who depend on your income You probably should as an insurance marketplace policy genius is in contact with the life insurance companies on their platform every single day They're keeping track of all the changes in the markets So you don't have to which means they can get you covered quickly and for the best price Here's how it works policy genius compares quotes from the top life insurance companies in one place It takes just a few minutes to compare quotes from top insurers to find your best price This doesn't just save you a lot of legwork You could save $1,500 or more a year by using policy genius compared to life insurance policies Once you apply the policy genius team will handle all the paperwork and red tape for free So if you hit a snag or any speed bumps during the application process, they're there to take care of everything So if you're one of the many people looking to buy life insurance right now, but you're not sure where to start Head over to policy genius calm policy genius will find the best rate and handle the process completely It's so simple guys They'll get you and your family protected and hopefully give you one less thing to worry about again. That is policy genius calm head there right now

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This episode is 43 minutes long.

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This episode was published on July 7, 2020.

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