Lock Stock & Barrel
Reading time: 3 – 4 minutes
Hustle is a process and once you know that process the money will come through forever. Suckers mistake Hustle for the product and the location but there is so much more. Anyone can sell a hamburger but only Ray Kroc can make McDonalds. So never take pride in the outcome of any Hustle you begin, take pride in the process and the fact that you know how to do it over and over again.
Every Hustle as it advances will evolve into a business. Now this doesn’t have to be a business with windows and doors but, you want it to prosper so different levels of people must be created. In the beginning you will take on a partner of some sort either on commission or some random title you may give them. This random title holder aka 8th Wonder may be the most innovative, creative, lawyer, songwriter,stockbroker, rapper, salesman, painter, baker, waiter, or consultant the world has ever seen. This person is a rainmaker and when they go out they always come back with money. This person can produce and they know it.
Now the Hustler must be the master of the talent. While you may be the talent in the beginning you have to be able to recognize and retain talent within your Hustle. Overtime your 8th wonder will want more and more money, time, security, respect, recognition, vacation and finally you looking up to them. They are the reason the sun comes up in this world and you should be thankful they have decided to stick with you. So when the 8th Wonder shows up the Hustler must be ready to make his move. Suckers will tell you to stay with the 8th wonder after all you are making money and isn’t that what Hustling is about? You have to own your Hustle Lock Stock & Barrel, there can never be any partners with the Hustle as a whole. You can give the 8th wonder a commission on what they produce but they can never be in charge of the direction of your Hustle. The Hustler must realize that there will be a 9th wonder that will be just like the 8th, and it’s up to you to get rid of people when they are causing you headaches.
An example of this is most Stock Brokerage firms and Law Firms. While they may have one million lawyers and stock brokers there are usually only a couple of names at the top. When these lawyers and stock brokers don’t produce they are fired and another set is hired. The Hustlers at the top remain the same forever. They seldom allow anyone to share in the true money. They own the firm which means they own the process that makes money. They can plug in any eager person to produce for them. So just like them the Hustler must learn to own the process Lock Stock & Barrel
BottomLine: Own the process, you can win and lose money, people will come and go, but you must never lose the process.
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How often does this type of scenario happen? I see a lot of partnerships break up but usually the company doesn’t collapse. Dang you make it sound like you have to really be on your P & Q’s in order to maintain your money!
I’ve been with you for a while since the Press but never commented. I wanted to say people are heeding the words you put out on these blogs. When you made the podcast PATNA I think you made me see that you are a regular cat even though your brain is running at 100mph. From Solutions to Money it’s all Black huh?
On this one I see you are beating the theme OWN THE PROCESS into our brains. We got it and thanks for the examples of the law firm and stock brokerage because that is exactly what came to mind when I was reading it.
I can dig this. It’s like playing playstation, where I can change players & pick different plays but ultimately, I am the one in control.
@On the Move – Now I’m not against partnerships but I’ve seen many breakup too. In fact I was part of one but in the end I own the company. This is money and the more money on the table the more people will fight, steal and swindle you. So most of the time it’s better to own it yourself and hire other people and let them go when they think they are the one running the game. It’s a timing issue but most people put money over the process and lose everything!
@N.Califormula – Welcome and I’m laughing at Califormula! Thanks for rolling with me PATNA and it’s not 100mph but maybe 99! LMBAO
Yeah the Law firm is the biggest example I could come up with. You always hear some Sucker telling you he’s going to make partner and in the end they kick him out the firm.
@keish – Exactly! Maybe I should use the playstation in my next life as an example! Everyone in the game think they really run things and they are making money but they don’t own the process and by theirselves they can’t build ish!
I like this a lot. It’s funny you mention McDonalds because that’s an example I often use. Personally, I think McDonalds hamburgers suck and I can make a better burger than McDonalds. But I’ll never outsell them because they have a system in place that’s repeatable and controlled. No matter where you go in the world, a Big Mac is made and tastes the same.
If you have that foundation, no matter what hustle you choose to do, you can take that system, apply it, and be successful.
McDonald’s is a good example too. They plug in 1 million people and push out that same 1 million but they still take all the dough. No matter how many people complain that they make burgers and wonder why they didn’t become manager, the Process aka the burgers keep flipping. They got the game down cold so much that you probably don’t like what they sell but since they have your brain saying why not just go to McD’s then they got you. I know you are playing that Monopoly game right now!
THIS JUST IN…
Yo Freeman, the analogies you used are definitely on point. Man, you framed that picture quite nicely. If you want to become rich, “OWNERSHIP” is key. You can not part w/a single solitary share of your company. Not for anything; not for love, not for loyalty, not for fairness, anything. So what!! Capitalism isn’t fair, life isn’t fair, the lottery of what genes we are born w/isn’t fair, either. Now, that’s not to say that one shouldn’t pay his/her colleagues, advisors or staff handsomely well,right??!! Okay, ownership isn’t the most important thing, but if you want to become rich in this game, it’s the only thing!! Maybe partnerships aren’t all that bad, but in my opinion they seem too time-comsuming and distracting for me, i just as soon hire them rather than partner with them. …Back to you, Hal.
My main man Marc what’s up with Hal?
Ownership is the key because ownership owns the process! Without that you are just on commission and someone is putting you on. The game is really blatant with record companies owning the songs even though the singer sung them. So in the end Sony has a catalog of music while Michael Jacksaon is dead. So they keep making money off of each album sold and will re release them for the next 50 years like Elvis.
So what is capitalism without ownership? You can pay everyone nice and give them 4 weeks vacation but in the end they are just pawns in the game while you own the chess board so who gives a ish where they move. Who cares who if they become champions! Who cares if they become famous! You own the board in which they play so you get money and don’t have to make one move!
lol…jus mocking the intro-outro of the talking-heads from the local newscast. Yo, it didn’t seem as corny when i wrote it. Yeah, it was kinda late, i must’ve been delirious, or something to that effect!! But, yo, i gotta commend you on that informative piece you dropped…those are some serious pearls, my brutha…Sage-Yoda type ish!!
Marc we are in the same area so I know the Hal you’re talking about. I was just joking because I thought you were going some OB1 and Yoda ish angle, and I guessed right!
I’m just speaking what I know on the blog in a format that stops it from being seen as something you have to dress up in a suit and tie to do. People make business look so damn hard when if you look around there are more people not in a suit and tie making money than most that are. It’s just we’re so educated that we don’t see money in simple terms anymore!
Your earlier example of Phil Knight(Nike) v. Jordan also fits this premise.
Jordan may be a millionaire but Knight is a billionaire.
You’re right because Jordan was the 1st wonder that got Nike to where it needed to be. Then Knight figured it out and said we can do this with Kobe, LeBron and Wade and Mellow and everyone else who might turn into a Icon. So I guess a sarcastic Thank You goes out to Jordan for creating the game but not capitalizing on it fully!