BRX Pro Tip: What’s the Biggest Risk? Transcript
Stone Payton: [00:00:00] And we are back with BRX Pro Tips. Lee Kantor, Stone Payton here with you. Lee, we talk a lot about the benefits, what can happen when you genuinely direct your efforts toward serving people, how much you can help people and make money, but there’s always risk in anything like this. What is the biggest risk? What’s the biggest risk for a studio partner? What’s the biggest risk for a client?
Lee Kantor: [00:00:23] Yeah, this is funny. We were talking about this with John Ray, the studio partner in North Fulton, we asked him this question and he goes, “The biggest risk? It’s too much fun.” It is just too much fun executing the shows, being a sponsor, getting to invite people, chatting them up, talking to him, learning about their business, or if it’s a studio partner, you’re getting to be kind of the belle of the ball, everybody knows who you are, everybody kind of wants to be on your show, and you’re having a great time.
Lee Kantor: [00:00:56] And you forget about, “I got to get my guests to make some money. I got to make sure that they’re getting an ROI. I’ve got to make sure that I’m not just inviting, you know, celebrities or micro celebrities that I’m getting people that are going to buy a show”, or that your sponsor is going to get business from them. They start doing the show for the wrong reasons and it slowly creeps in. It’s not anything that they started doing, but once it happens, it really can become a risk because now, you’re not getting an ROI. Now, you’re not getting the financial results you need in order to keep doing the thing that you’re having too much fun doing.
Stone Payton: [00:01:31] And guess whose fault it is, right? It’s yours as the studio partner. You know, that’s the first place they’re going to point. One of the ways you can really alleviate this, though, is establish regular review meetings. And when you do have that Polaroid picture, have that website called up and say, “Okay, here, talk to me again. Let’s walk this thing. What was the purpose in having these people in here? How did that unfold? How’d the conversation go from there?”
Stone Payton: [00:01:55] And sometimes, it makes it easier for them to self-discover. “Man, we said we’re going to aim this at X, I’ve been aiming it at Y.” And you would kind of bring them back to reality. And, you know, it’s much better to do that earlier than too late because otherwise, it’ll be just a fun six months, one year that they had, but they’re not going to get their return, because maybe, you know, we, as a studio partner, weren’t willing to be in there and be professionally confronted and say, “All right, you know, Joe, so let’s stay on track here, who we want in here and why.”
