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<v Speaker 1>Hi, I'm Bob NIS's from cold Spring, Kentucky.

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<v Speaker 2>I golf at aj Jolly Golf Course in Alexandria, Kentucky.

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<v Speaker 2>Welcome to Golf Smarter.

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<v Speaker 3>Hi. This is Bob Cordero from Haverford, Pennsylvania, and I

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<v Speaker 3>play at the Shore Club in Kate May Courthouse, New Jersey.

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<v Speaker 3>This is Golf's Smarter Number one twenty five.

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<v Speaker 2>The Masters has these limited edition garden Nomes. They're about

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<v Speaker 2>a foot toll in classic Masters fashion. They don't tell

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<v Speaker 2>you a lot of things about what goes on behind

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<v Speaker 2>the scenes. They don't tell you how many of them

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<v Speaker 2>they issue per year. But I tell a story where

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<v Speaker 2>as a millennial he lives in suburban Georgia, bought the

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<v Speaker 2>garden Nome. The first year it was thirty nine dollars

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<v Speaker 2>and fifty cents in twenty sixteen. He sold it in

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<v Speaker 2>twenty twenty four for eighty nine hundred dollars. So that

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<v Speaker 2>tells you number one, Anything with a Master's logo on

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<v Speaker 2>it is worth something. You can travel anywhere in the

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<v Speaker 2>world and people know what the Master's logo is about.

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<v Speaker 2>But it also it's one of the ten principles I

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<v Speaker 2>talk about in the book how do you use scarcity

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<v Speaker 2>to create value? They've perfected that you can only buy

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<v Speaker 2>their things seven days a year in person.

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<v Speaker 1>I dream the world could be more like the Masters.

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<v Speaker 1>With author of the Augusta Principles, John Sabino, this is

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<v Speaker 1>Golf Smarter, sharing stories, tips and insights from great golf

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<v Speaker 1>minds to help you lower your score and raise your

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<v Speaker 1>golf IQ. Here's your host, Fred Green. Welcome back to

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<v Speaker 1>the Golf Smarter podcast. John.

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<v Speaker 2>Hello, Fred, thanks for having me back. I appreciate it.

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<v Speaker 1>Thank you for reaching out again. Now it's interesting I'm saying,

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<v Speaker 1>welcome back to the Golf Smarter podcast, but you haven't

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<v Speaker 1>been on since two thousand and eight and episode one

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<v Speaker 1>hundred and fifty nine, and the listeners that were that

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<v Speaker 1>were here back then, and there are some you may remember.

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<v Speaker 1>We never learned John's name. He was anonymous at the

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<v Speaker 1>time because he was on episode number fifty two in

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<v Speaker 1>two thousand and six, episode number one hundred and eight

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<v Speaker 1>in two thousand and seven, and then episode one fifty

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<v Speaker 1>nine in two thousand and eight, and what we were

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<v Speaker 1>doing at the end of each year you had I

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<v Speaker 1>don't know how you found me, but it was early

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<v Speaker 1>on in podcasting days, and you reached out to me

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<v Speaker 1>to say, I'm trying to play the best golf courses

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<v Speaker 1>in the world, the top one hundred courses, and so

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<v Speaker 1>you gave us a recap of your year of what

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<v Speaker 1>you were doing. And I do distinctly remember in two

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<v Speaker 1>thousand and eight, I think it was you felt like

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<v Speaker 1>there was one course you would never get to.

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<v Speaker 2>That true. That's it took me. Uh it took me,

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<v Speaker 2>I think twelve years to play the top ninety nine

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<v Speaker 2>in the world, and it took me another three or

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<v Speaker 2>four to get on Augusta. But I had given up.

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<v Speaker 2>I thought, okay, ninety nine is pretty good. I had

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<v Speaker 2>been to the Masters and walked the course. That's pretty

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<v Speaker 2>close sort of ninety nine and a half. But then,

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<v Speaker 2>out of the blue, to the company I worked for,

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<v Speaker 2>they invited the CEO to play, but luckily there was

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<v Speaker 2>a board meeting that week and he couldn't go. So

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<v Speaker 2>he called my boss, who lives in Charlotte, but he

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<v Speaker 2>had played it already, and he did the most gracious

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<v Speaker 2>thing anybody could do, and he said, well, John needs

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<v Speaker 2>to play. Let's give it to John. And that's how

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<v Speaker 2>I got on and I ended up.

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<v Speaker 1>Did they know you were going? You were your quest

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<v Speaker 1>to get it?

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<v Speaker 2>They knew about it, Yeah, it was. It was widely known.

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<v Speaker 2>That was a different company. The reason I came on

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<v Speaker 2>your podcasts anonymous before is the company I worked for

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<v Speaker 2>at the time, Morgan Stanley, didn't really want any publicity,

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<v Speaker 2>you know, they were very shy on everything. But when

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<v Speaker 2>I worked for Capitol One, which is where I got

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<v Speaker 2>the invite to Augusta, they didn't. They didn't care as

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<v Speaker 2>much about that, and I ended up. Yeah, I ended

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<v Speaker 2>up playing. That was the last course I played, obviously,

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<v Speaker 2>and I played with Marco Mera the day before the

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<v Speaker 2>Masters in twenty thirteen. Yeah, it was. It was quite

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<v Speaker 2>an event. And we played on the front nine Mark

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<v Speaker 2>and I played alone, and then on the we were

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<v Speaker 2>going and on the tenth tee Jose Maria Olthabo came

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<v Speaker 2>off the practice putting green and said, oh, do you

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<v Speaker 2>guys mind if I join you? And Mark said, it's

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<v Speaker 2>okay with me. Let's see if John wants you to

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<v Speaker 2>join or not. So he turned to me and he said,

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<v Speaker 2>is it okay if John joins? And what am I

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<v Speaker 2>going to say? Fred, Like, Yeah, we're in a groove here. Mark,

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<v Speaker 2>let's just keep going. So I played the back nine

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<v Speaker 2>with two Masters champions and it was phenomenal because they're friends,

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<v Speaker 2>and you know, there was a very comfortable pairing and

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<v Speaker 2>they would each drop a ball on different greens and say,

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<v Speaker 2>when I won the Masters, here's the pot I had

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<v Speaker 2>on thirteen, and they recreated shots for me. It was

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<v Speaker 2>there's only one way to end a quest, to do

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<v Speaker 2>what I was doing, and that's the way I did.

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<v Speaker 2>I tell people now, I'm probably the only golfer maybe

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<v Speaker 2>in the world that doesn't want to play Augusta because

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<v Speaker 2>nothing I could do with top the experience I had.

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<v Speaker 2>So if I ever got invited again, I would I

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<v Speaker 2>would pay it forward and invite a couple of my friends. Yeah,

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<v Speaker 2>I have a living you wanted hand up the others

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<v Speaker 2>drop out, Fred, I'll slought you in Okay.

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<v Speaker 1>Well, you know, Morgan Stanley. You know they didn't want

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<v Speaker 1>the publicity. They also probably would have to get a

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<v Speaker 1>team of lawyers and compliance people to make sure that

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<v Speaker 1>you didn't say anything. I was like, so, yeah, but

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<v Speaker 1>you wanted to remain Yeah, you had to remain anonymous

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<v Speaker 1>by being on the podcast. But you were so nice

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<v Speaker 1>to come back but then you disappeared. I reached out

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<v Speaker 1>to you and I never heard from you again. So yeah,

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<v Speaker 1>well that was pretty awesome. We got three years. I

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<v Speaker 1>wonder whatever happened, and your name came up to me

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<v Speaker 1>in twenty ten when I was playing at Harding Park

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<v Speaker 1>with the two crazy Kiwis.

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<v Speaker 2>That's right, yeah, Jamie, Yeah.

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<v Speaker 1>Yeah, Michael and Jamie. So these kids were traveling around

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<v Speaker 1>the world and we're going to play a different course

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<v Speaker 1>for three hundred and sixty five days in a row

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<v Speaker 1>yep and circumvent the planet Untilda and play golf. And

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<v Speaker 1>they did it. And so when they stopped in San Francisco,

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<v Speaker 1>I played with them at Harding Park and they told

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<v Speaker 1>me that they played with you, and they told told

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<v Speaker 1>me your name was John. I'm like, I didn't know that.

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<v Speaker 1>He's like, what do you mean he never told me

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<v Speaker 1>his name? When I asked, He's like, no, I can't

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<v Speaker 1>really tell you.

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<v Speaker 2>That's funny.

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<v Speaker 1>I'll just tell you my stories, but that's all I

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<v Speaker 1>can do. Yeah, Yeah, they were fun.

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<v Speaker 2>Yeah.

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<v Speaker 1>Where did you play with them?

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<v Speaker 2>I believe it or not. In Melbourne in Australia. I

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<v Speaker 2>met them. I was playing Walton Heath and I think

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<v Speaker 2>one of the cat He said, oh, you have to

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<v Speaker 2>meet these guys. So I met them down there. We

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<v Speaker 2>played a couple of holes, and then when they were

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<v Speaker 2>coming through the US, I played with them. I hosted

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<v Speaker 2>them in New Jersey a couple of times and helped

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<v Speaker 2>them out getting on different courses where I could. Yeah,

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<v Speaker 2>they were they were I forget how well, maybe twenty

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<v Speaker 2>three at the time, and I told them they were

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<v Speaker 2>going to ruin their lives. They picked too early. You can't, Like,

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<v Speaker 2>that's right. Think about think about how great that is

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<v Speaker 2>to play golf for sixty five days in a row.

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<v Speaker 1>But you got to be twenty three to have that.

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<v Speaker 2>Exactly that, yeah, exactly, just go.

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<v Speaker 1>Out every single day. It's like, couldn't do it today.

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<v Speaker 2>I couldn't either. My back couldn't do it.

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<v Speaker 1>No, absolutely not, absolutely not. But I'm curious. I'm going

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<v Speaker 1>to go back to Augusta in the time that you

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<v Speaker 1>played with two Masters champions. Yep, how was your game

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<v Speaker 1>at the time.

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<v Speaker 2>It wasn't bad. I shot to my handicap. The highlight

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<v Speaker 2>of the round was I played amen corner and even parr.

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<v Speaker 2>I parted eleven. I birdied twelve, which is one of

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<v Speaker 2>those iconic holes in the world where you think about

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<v Speaker 2>if there's holes you want a birdie, you know, Cyprus

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<v Speaker 2>point sixteen, TPC Saws seventeen, you know, with the water.

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<v Speaker 2>But Augustus twelfth is pretty high up on that list.

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<v Speaker 2>And then I bogied thirteen. So yeah, I played to

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<v Speaker 2>my handicap. You know, Mark was very gracious. You're extremely

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<v Speaker 2>nervous when you play Augusta under any conditions, of course,

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<v Speaker 2>So on the first two holes he played the members

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<v Speaker 2>teas with me instead of playing the proteas, just to

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<v Speaker 2>sort of, you know, help me get into the situation

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<v Speaker 2>and make sure I wasn't too nervous, which I was.

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<v Speaker 2>But I hit the first fairway, I parted the second hole, Yeah,

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<v Speaker 2>I did, Okay, I played to my handicap. The greens

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<v Speaker 2>are insane, They're extremely difficult, and they were tournament speed.

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<v Speaker 2>Like on eighteen, I hit above the hole and I

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<v Speaker 2>just tapped the pot to try to get it to

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<v Speaker 2>the hole, and it ran off the front of the

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<v Speaker 2>green and then Jose Maria comes up and it drops

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<v Speaker 2>the ball and he says, there's just nothing you could do.

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<v Speaker 2>There's no speed you could hit it to stop it.

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<v Speaker 2>He goes. The lesson is you just can't be above

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<v Speaker 2>some of these holes. So yeah, it was. It was

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<v Speaker 2>really interesting.

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<v Speaker 1>So what's the difference between the members teas and the proteas.

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<v Speaker 2>The members teas, I think are sixty six hundred, and

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<v Speaker 2>god knows what the what the proteins are these days,

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<v Speaker 2>probably seventy four or seventy five hundred. They keep lengthening it,

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<v Speaker 2>but yeah, sixty six hundred is manageable for the average golfer,

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<v Speaker 2>which I was at the time.

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<v Speaker 1>Is it true that you cannot post or the course

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<v Speaker 1>is not rated?

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<v Speaker 2>It doesn't have a slope rating, that's correct, it doesn't

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<v Speaker 2>have it. Yep, yep.

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<v Speaker 1>So you just it's just a story you get to tell.

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<v Speaker 2>Just a great round of golf that you remember forever,

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<v Speaker 2>but you can't post the score.

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<v Speaker 1>Right, and it lasts and the story lasts longer than

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<v Speaker 1>your twenty rounds exactly.

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<v Speaker 2>And I'm still telling people that I birdied twelve. So

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<v Speaker 2>thanks for giving me the opportunity to do it again.

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<v Speaker 1>Oh absolutely, I'm going to give you a lot of

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<v Speaker 1>opportunities to brag about this because it's such an amazing story.

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<v Speaker 2>Yep.

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<v Speaker 1>And just wait, when you were saying you were playing

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<v Speaker 1>your handicap, Come on, give me more than that.

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<v Speaker 2>My handicap at the time was sixteen. So I did

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<v Speaker 2>break one hundred, but not by a lot. Wow. Yeah,

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<v Speaker 2>Like certain holes just didn't suit my eye. Like sixteen

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<v Speaker 2>I hit into the water I had left into the water.

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<v Speaker 2>Seventeen I hit At this time the Eyesenhower tree was

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<v Speaker 2>still there. I hit it with my drive. Eighteen I

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<v Speaker 2>just had I just butchered up ten. I had a

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<v Speaker 2>really hard time on. I ended up in that big

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<v Speaker 2>bunker at the bottom of the hill and had a

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<v Speaker 2>hard time getting out. And part of the reason for

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<v Speaker 2>that was on the ninth hole, Tiger Woods had just

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<v Speaker 2>teed off and he saw us and he came walking over.

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<v Speaker 2>So Mark introduced me. So I got to meet Tiger

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<v Speaker 2>and had a little chat with him. So even though

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<v Speaker 2>I threw the first eight holes, I was fine after

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<v Speaker 2>meeting Tiger. It took me two holes to settle down,

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<v Speaker 2>Like I was hyperventilating. That Caddy saved me. He's like

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<v Speaker 2>he came over. He said, Okay, just take deep breaths.

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<v Speaker 2>It's gonna be okay. Don't worry about it. And luckily

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<v Speaker 2>I rallied frame end quarter.

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<v Speaker 1>Oh my gosh. And were there moments there like that

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<v Speaker 1>you were incredibly self conscious being his sixteen handicap playing

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<v Speaker 1>with these pros on the course.

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<v Speaker 2>Yep. And it gets even worse. I had worse. It

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<v Speaker 2>was the sixth hole. Yeah, the sixth hole. We walk

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<v Speaker 2>up to it and there was these two older gentlemen

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<v Speaker 2>sitting in a golf cart and there were two like

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<v Speaker 2>teenagers about to tee off and Mark Mark says to me, goes, oh,

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<v Speaker 2>let me introduce you to these gentlemen. One of them

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<v Speaker 2>was Bob Goldby, who won I think in sixty seven,

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<v Speaker 2>that's the with the incident with the Argentine Tinian golfer

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<v Speaker 2>who disqualified himself. And then he said, this other gentleman

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<v Speaker 2>is Bob is it Bob Ford? Doug Ford? Excuse me?

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<v Speaker 2>So we we uh. They let us play through. We

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<v Speaker 2>hit our shots, and down at the green, I said,

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<v Speaker 2>I said, I recognize Goldbie's name, but who is Doug Ford?

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<v Speaker 2>And he said, well, he won the Masters in nineteen

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<v Speaker 2>fifty seven. If you could imagine, I'm like, how how

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<v Speaker 2>is this person even alive? So yeah, I pulled that

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<v Speaker 2>shot pretty good too, because I had a couple of

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<v Speaker 2>Masters champions watching on that. But if you let it

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<v Speaker 2>get in your head, it's intimidating. I mean I had

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<v Speaker 2>played obviously around the court core world on very good

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<v Speaker 2>courses and sometimes playing with golfers that were plus two

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<v Speaker 2>and plus three handicaps, which can be a little bit intimidating.

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<v Speaker 2>But I think because it was Marco Mira and he's

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<v Speaker 2>just such a gracious person, a nice man, it was

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<v Speaker 2>just the nerves weren't as bad as I thought they

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<v Speaker 2>were most of the round.

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<v Speaker 1>I'm curious to know how you hooked up with Marco Mirra.

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<v Speaker 1>I mean, like they said, i'll let John play this,

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<v Speaker 1>but how at what point did you know that it

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<v Speaker 1>was going to be with Marcomera.

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<v Speaker 2>Well after after they invited me, I knew right away.

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<v Speaker 2>Capital One spends a lot of money on golf related things,

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<v Speaker 2>and it's sort of a way that they they pay

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<v Speaker 2>it back, you know, when they get opportunities to have

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<v Speaker 2>people that sponsor tournaments and spend a lot of money

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<v Speaker 2>on golf, they give them those kind of perks and

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<v Speaker 2>and you know, I guess there was just an opportunity

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<v Speaker 2>that came up and I was lucky enough to get it.

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<v Speaker 1>So you're playing there the day before.

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<v Speaker 2>Twenty thirteen Masters.

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<v Speaker 1>Yeah, so what was this on a Wednesday? Was Tuesday?

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<v Speaker 2>No, it's the Saturday, the Saturday.

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<v Speaker 1>Okay before everybody, excuse me.

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<v Speaker 2>The Sunday, the Sunday before. So the tournament, the practice

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<v Speaker 2>rounds start on Monday, so we say it was the

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<v Speaker 2>Sunday before. Yeah, and the only the only people allow

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<v Speaker 2>on the course of that day or former champions and

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<v Speaker 2>they're allowed one guest each.

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<v Speaker 1>Oh okay, Yeah, so I twenty twenty five, I got

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<v Speaker 1>to go on Wednesday and Thursday, and it was mind

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<v Speaker 1>blowing for me. But one of the things that really

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<v Speaker 1>kind of not shook me up, but I was just

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<v Speaker 1>so surprised. It's just like there's no rough anywhere. Yes,

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<v Speaker 1>you know, I mean the one thing about the greens

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<v Speaker 1>being I would see guys take a stroke that would

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<v Speaker 1>be for like a five foot putt and it would

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<v Speaker 1>go thirty five feet. Yep, there was that. But the

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<v Speaker 1>fact that like the second cut, which is you know

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<v Speaker 1>what everyone else would call it rough, seemed to be

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<v Speaker 1>like most of the putting greens that I play.

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<v Speaker 2>Yeah, I mean, aside from hitting into the water, you

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<v Speaker 2>can't really get in a lot of trouble. I mean

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<v Speaker 2>you could, you could hit onto the pine straw. That's

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<v Speaker 2>a little difficult to hit at. But you're right, the

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<v Speaker 2>fairways are in perfect condition. The first cut he's very

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<v Speaker 2>easy to hit at of not very thick most of

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<v Speaker 2>the courses. The difficulty is the approaches to the green.

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<v Speaker 2>Can you hold the green if you're coming in from

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<v Speaker 2>the wrong spot, And most of the time the answer

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<v Speaker 2>is no. And then once you're on the putting greens,

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<v Speaker 2>if you're not in the right spot, it's very difficult

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<v Speaker 2>to put because they're very fast. That's the challenge of Augusta.

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<v Speaker 1>I would think that the challenge of the Gusta is

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<v Speaker 1>the intimidation factor.

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<v Speaker 2>Yes, yes it is. It is very intimidating. Yep, no

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<v Speaker 2>doubt about it. Yeah.

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<v Speaker 1>So, okay, now we've got that established. That's not why

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<v Speaker 1>you're here today. You've just written a book that I

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<v Speaker 1>thoroughly enjoyed, and thank you. I promise you there will

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<v Speaker 1>be copies given out this holiday season to a number

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<v Speaker 1>of my friends who are not only golfers and a

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00:16:59.720 --> 00:17:03.919
<v Speaker 1>you know, but they appreciate what Augusta is and what

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<v Speaker 1>the Masters is in the world of sports.

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<v Speaker 2>Yep.

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00:17:07.759 --> 00:17:12.039
<v Speaker 1>But they're also in business, and so you took this

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<v Speaker 1>approach on the book, and why don't you give me

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00:17:14.480 --> 00:17:17.000
<v Speaker 1>the overview of what you think the book is and

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<v Speaker 1>then we can go on.

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<v Speaker 2>Yeah, so you've been to the Masters, and even for

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<v Speaker 2>people that haven't been to the Masters, they get a

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<v Speaker 2>sense of obviously how perfect the course is watching on

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<v Speaker 2>TV and it's also the best broadcast of the year

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<v Speaker 2>for a variety of reasons. So the thing that strikes

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<v Speaker 2>me when you're actually on the property Augusta, and I've

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00:17:39.880 --> 00:17:45.200
<v Speaker 2>been lucky enough to go nine times, wow, is it's perfect.

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<v Speaker 2>There are so many things that they do well. You know,

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00:17:51.000 --> 00:17:53.880
<v Speaker 2>the attention to detail is the one that most people

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<v Speaker 2>pick up on. You can't find any weeds on the property.

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<v Speaker 2>Everybody's cheery, there's just you know, everybody's well behaved while there,

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<v Speaker 2>while they're on property, And every time I left Augusta,

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00:18:09.640 --> 00:18:12.839
<v Speaker 2>I said to myself, how do they do this? You know,

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<v Speaker 2>this is a perfect place. And then you get out

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<v Speaker 2>of Augusta and people are rude and it's loud, and

325
00:18:20.000 --> 00:18:23.680
<v Speaker 2>everything is commercialized and everything is not perfect. So the

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<v Speaker 2>idea behind the book was to deconstruct what what it

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<v Speaker 2>is that goes into the Masters. How are the members

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<v Speaker 2>of Augusta National, how have they what's the secret formula

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00:18:36.599 --> 00:18:40.279
<v Speaker 2>that they use? And I reverse engineered and they didn't

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<v Speaker 2>have access to any members or to the club. I

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<v Speaker 2>did a lot of research. I read for months and

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00:18:46.599 --> 00:18:50.519
<v Speaker 2>months everything I could about about the Masters and what

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00:18:50.640 --> 00:18:53.640
<v Speaker 2>goes into it. So most books that have been written

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<v Speaker 2>about the Masters are about the tournament, are about their

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00:18:56.640 --> 00:18:59.240
<v Speaker 2>about the course itself. This is the first book that's

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00:18:59.279 --> 00:19:02.960
<v Speaker 2>really about what makes it special. And originally I was

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00:19:03.000 --> 00:19:05.359
<v Speaker 2>going to write it as a business, as a just

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<v Speaker 2>a golf book, but then as I started to get

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00:19:08.119 --> 00:19:11.799
<v Speaker 2>into it, I asked the question, and this was really

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00:19:11.799 --> 00:19:15.559
<v Speaker 2>the driving force behind the book, why can't the world

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<v Speaker 2>be more like the Masters? Right? It's it's just a

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00:19:20.480 --> 00:19:22.960
<v Speaker 2>lot of people describe it that have been there as

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<v Speaker 2>an adult disney Land and to many in many respects,

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<v Speaker 2>it is nobody has a bad day when they go there.

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00:19:34.039 --> 00:19:38.119
<v Speaker 2>Everybody is going out of their way to please you,

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00:19:38.240 --> 00:19:41.319
<v Speaker 2>and just the way that the patrons behave and the

347
00:19:41.319 --> 00:19:46.039
<v Speaker 2>civility behind it. So I went through and I deconstructed

348
00:19:46.720 --> 00:19:49.720
<v Speaker 2>what makes it such a great tournament? That was the

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00:19:49.799 --> 00:19:53.200
<v Speaker 2>idea behind it and the reason I decided to make

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<v Speaker 2>it a business book is certainly I'd say, you know,

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<v Speaker 2>the majority of the book, probably eighty percent, talks about

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<v Speaker 2>the Masters and what they do right, But then I

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<v Speaker 2>also said, okay, are there other businesses and are there

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<v Speaker 2>other examples where other companies who take the same philosophy

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<v Speaker 2>and the same approach can make the world more like

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<v Speaker 2>the Masters. So that's that's the idea behind it, to

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<v Speaker 2>try to spread the formula that they have for people

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<v Speaker 2>that are in business or making decisions. What can they

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00:20:25.440 --> 00:20:28.759
<v Speaker 2>do to make their businesses operate better, or to treat

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<v Speaker 2>customers with more respect, or to create a more civil environment.

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<v Speaker 2>So and as you know, there's a lot that can

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<v Speaker 2>be done in the world to improve things, and we

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<v Speaker 2>could talk about some of the specifics.

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<v Speaker 1>Well, yeah, I mean early on in the book you

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<v Speaker 1>establish and page twenty four you say, AUGUSTA National's principles

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<v Speaker 1>can be replicated yep, And yeah, you know you're it

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<v Speaker 1>from there.

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<v Speaker 2>Yeah. And one of the things that one of the

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<v Speaker 2>things that so like take attention to d detail. They

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<v Speaker 2>they hand clip the edges of the of the grass

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<v Speaker 2>near the bunkers to make sure that they're perfect. The

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<v Speaker 2>pro shop if you pay in cash. All the cash

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<v Speaker 2>and the pro shop are brand new bills. They won't

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<v Speaker 2>give you a bill that's been used before. Now that's

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<v Speaker 2>a quirk that Cliff Roberts set up. He didn't like

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00:21:25.839 --> 00:21:29.119
<v Speaker 2>dirty bills. But you know, they still abide by that.

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<v Speaker 2>When they cut the flower bed in Founder Circle, which

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<v Speaker 2>is at the end of Magnolia Lane, they have a

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<v Speaker 2>horizontal ladder that they use so that they don't tramp

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<v Speaker 2>down on any of the flowers. I mean, it's things

381
00:21:42.400 --> 00:21:46.160
<v Speaker 2>that it's an insane attention to detail. But you know,

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00:21:46.519 --> 00:21:50.720
<v Speaker 2>let's take two examples. Outside of Augusta. Ritz Carlton also

383
00:21:50.839 --> 00:21:54.200
<v Speaker 2>does a fantastic job on attention to detail. You know,

384
00:21:54.359 --> 00:21:57.880
<v Speaker 2>partly they do that by empowering their employees. Partly it's

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00:21:57.960 --> 00:22:01.039
<v Speaker 2>just part of their culture and their those So that's

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00:22:01.079 --> 00:22:04.400
<v Speaker 2>one example, and people are going to think, Okay, yeah, sure,

387
00:22:05.200 --> 00:22:08.440
<v Speaker 2>Augusta has a lot of money. Ritz Carlton's a very

388
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<v Speaker 2>expensive hotel. If you have a lot of money, it's

389
00:22:10.880 --> 00:22:13.920
<v Speaker 2>a lot easier to pay attention to detail. So I

390
00:22:13.960 --> 00:22:16.720
<v Speaker 2>also made sure that a bunch of the examples that

391
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<v Speaker 2>I gave in the book were not companies that are

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<v Speaker 2>high and only and my favorite example is a company

393
00:22:24.759 --> 00:22:32.119
<v Speaker 2>called BUCkies. BUCkies runs convenience centers slash gas stations slash

394
00:22:32.200 --> 00:22:37.279
<v Speaker 2>superstores along highways, primarily in the South, and BUCkies is interesting.

395
00:22:37.319 --> 00:22:40.839
<v Speaker 2>The reason I put it in the book is another

396
00:22:40.880 --> 00:22:43.640
<v Speaker 2>thing Augusta does really well. If you've ever been to

397
00:22:43.680 --> 00:22:47.400
<v Speaker 2>the Masters and you go to the bathroom, they have

398
00:22:47.440 --> 00:22:54.319
<v Speaker 2>an attendant that cleans the stall after each use. It's insane, right, like, it's.

399
00:22:54.400 --> 00:22:57.880
<v Speaker 1>Definitely going to the bathroom is one of the highlights

400
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<v Speaker 1>of my two days there.

401
00:22:59.440 --> 00:23:03.559
<v Speaker 2>Right, you're greeted by an attendant. There's people in there

402
00:23:03.599 --> 00:23:08.400
<v Speaker 2>cleaning everything all the time. And what's what's a good

403
00:23:08.440 --> 00:23:12.079
<v Speaker 2>example is one of the things that Bucky's has made

404
00:23:12.079 --> 00:23:14.720
<v Speaker 2>part of their mission statements. They say they have the

405
00:23:14.759 --> 00:23:19.319
<v Speaker 2>cleanest bathrooms in America. Right, so for gas stations on

406
00:23:19.400 --> 00:23:22.319
<v Speaker 2>highway rest stops, how do you do that? Right? You

407
00:23:22.400 --> 00:23:25.400
<v Speaker 2>do that by committing you have an you want to

408
00:23:25.400 --> 00:23:28.519
<v Speaker 2>have an attention to detail. They take the time to

409
00:23:28.599 --> 00:23:31.240
<v Speaker 2>make sure that that's part of their culture. They train

410
00:23:31.279 --> 00:23:34.920
<v Speaker 2>their associates to do that, and the place has a

411
00:23:34.960 --> 00:23:38.039
<v Speaker 2>cult following. It's it's if you've ever been in one.

412
00:23:38.640 --> 00:23:43.400
<v Speaker 2>If you haven't, I recommend visiting they have it's very

413
00:23:43.400 --> 00:23:46.119
<v Speaker 2>similar to Augusta. They have tons of branded gear and

414
00:23:46.200 --> 00:23:50.200
<v Speaker 2>merchandise that they sell. Everybody is upbeat and cheery. It's

415
00:23:50.319 --> 00:23:55.039
<v Speaker 2>just a really good example of yes, there are ways.

416
00:23:55.119 --> 00:23:58.079
<v Speaker 2>Not everybody's not going to be perfect all the time,

417
00:23:58.200 --> 00:24:01.880
<v Speaker 2>but pick something, pick a couple things, and you can

418
00:24:01.960 --> 00:24:04.400
<v Speaker 2>really help to drive business and make it. And it's

419
00:24:04.400 --> 00:24:07.759
<v Speaker 2>a cult brand. People will drive an hour out of

420
00:24:07.799 --> 00:24:10.400
<v Speaker 2>their way to go get their gas at Bucket's because

421
00:24:10.440 --> 00:24:13.279
<v Speaker 2>they know that they're going to get a clean restroom.

422
00:24:13.319 --> 00:24:16.680
<v Speaker 2>So that's just one example that is a way to

423
00:24:16.759 --> 00:24:18.279
<v Speaker 2>replicate what Augusta does.

424
00:24:24.799 --> 00:24:27.759
<v Speaker 1>Have to share. My experience in the bathroom, I was

425
00:24:27.880 --> 00:24:30.480
<v Speaker 1>like around I think it was around whole number four.

426
00:24:31.200 --> 00:24:33.240
<v Speaker 1>I had to go to the bathroom. Pull my buddy,

427
00:24:33.519 --> 00:24:35.599
<v Speaker 1>I'll be back in the night. After the bathroom, and

428
00:24:35.640 --> 00:24:39.799
<v Speaker 1>there was this young man with the greatest energy and

429
00:24:39.880 --> 00:24:43.480
<v Speaker 1>the biggest smile saying, if you gotta go number one,

430
00:24:43.559 --> 00:24:45.640
<v Speaker 1>get in line here, you gotta go number two, just

431
00:24:45.680 --> 00:24:48.680
<v Speaker 1>wait against the wall, and he was like he just

432
00:24:48.759 --> 00:24:51.920
<v Speaker 1>repeated it that his enthusiasm every single time that he

433
00:24:52.079 --> 00:24:53.960
<v Speaker 1>repeated It's when I got to the front of line,

434
00:24:54.519 --> 00:24:57.319
<v Speaker 1>I was, you know, I was like, did you audition

435
00:24:57.440 --> 00:25:00.720
<v Speaker 1>for this job? You know? I said, do you enjoy

436
00:25:00.839 --> 00:25:04.359
<v Speaker 1>repeating you? He goes, I love this job. I've been

437
00:25:04.359 --> 00:25:07.599
<v Speaker 1>doing this. He couldn't have been more than twenty five

438
00:25:07.640 --> 00:25:09.799
<v Speaker 1>years old. He says, I've been doing this for seven years.

439
00:25:09.839 --> 00:25:11.519
<v Speaker 1>I absolutely love doing this.

440
00:25:11.839 --> 00:25:12.119
<v Speaker 2>Yep.

441
00:25:12.960 --> 00:25:16.079
<v Speaker 1>But I also saw that in the parking lot as

442
00:25:16.160 --> 00:25:17.920
<v Speaker 1>soon as you got out of the car, there was

443
00:25:17.960 --> 00:25:20.759
<v Speaker 1>a friendly person saying welcome to the masters.

444
00:25:20.839 --> 00:25:23.640
<v Speaker 2>Isn't it crazy? Yep? And you hear that about twenty

445
00:25:23.720 --> 00:25:26.240
<v Speaker 2>times even before you get in the gate. Yep. The

446
00:25:26.279 --> 00:25:29.759
<v Speaker 2>security guards. There's members in green jackets. People think that

447
00:25:30.400 --> 00:25:33.039
<v Speaker 2>AUGUSTA members are aloof and you never see them. I mean,

448
00:25:33.079 --> 00:25:38.119
<v Speaker 2>they're captains of industry. They're very successful people. But there

449
00:25:38.160 --> 00:25:40.960
<v Speaker 2>are three or four members who are assigned to the

450
00:25:40.960 --> 00:25:43.559
<v Speaker 2>parking lots and that's what they you know. And before

451
00:25:43.599 --> 00:25:46.440
<v Speaker 2>you get through the gates there they're saying hello, and

452
00:25:46.480 --> 00:25:49.799
<v Speaker 2>they're welcoming and welcoming you in again. Like you look

453
00:25:49.839 --> 00:25:53.200
<v Speaker 2>at there are businesses that do that. Buckets happens to

454
00:25:53.240 --> 00:25:56.240
<v Speaker 2>be another one where you get a warm greeting. Another

455
00:25:56.279 --> 00:25:59.319
<v Speaker 2>one I have in the in the book is Public's

456
00:25:59.440 --> 00:26:03.400
<v Speaker 2>supermarket chain. Also in the South, and Publics has what

457
00:26:03.440 --> 00:26:06.240
<v Speaker 2>they call they have a couple rules. They have a

458
00:26:05.759 --> 00:26:09.400
<v Speaker 2>ten second rule, which is every customer has to be

459
00:26:09.519 --> 00:26:13.759
<v Speaker 2>greeted within ten seconds of coming into your department. And

460
00:26:13.920 --> 00:26:16.119
<v Speaker 2>it just makes a big difference, right, it's that same

461
00:26:16.640 --> 00:26:20.079
<v Speaker 2>and you know it's supermarket, it's not it's not a

462
00:26:20.119 --> 00:26:23.200
<v Speaker 2>golf tournament run by a lot of affluent people. But

463
00:26:23.440 --> 00:26:27.400
<v Speaker 2>it makes a huge difference, and they have a huge, uh,

464
00:26:27.559 --> 00:26:30.799
<v Speaker 2>you know, customer satisfaction rating as a result. That's just

465
00:26:31.160 --> 00:26:32.839
<v Speaker 2>that's just one of the small things that they do.

466
00:26:33.720 --> 00:26:37.640
<v Speaker 1>Just one of the small things. You you briefly dropped

467
00:26:37.640 --> 00:26:39.680
<v Speaker 1>his name in, but we need to talk more about

468
00:26:39.720 --> 00:26:43.440
<v Speaker 1>Cliff Roberts. We hear a lot about Bobby Jones, obviously,

469
00:26:43.559 --> 00:26:46.799
<v Speaker 1>especially on this show because doctor Bob Jones, the fourth

470
00:26:46.839 --> 00:26:49.880
<v Speaker 1>his grandson, has been a regular on this show, nice

471
00:26:49.920 --> 00:26:54.079
<v Speaker 1>and telling stories about his grandfather, who he refers to

472
00:26:54.119 --> 00:26:58.440
<v Speaker 1>as bubb for the last number of years. But we

473
00:26:58.519 --> 00:27:01.920
<v Speaker 1>really don't hear a lot about the thumb print that

474
00:27:02.000 --> 00:27:05.440
<v Speaker 1>Cliff Roberts put on Augusta National.

475
00:27:05.680 --> 00:27:10.640
<v Speaker 2>Yep. Yeah, I talk about a lot of the things

476
00:27:10.680 --> 00:27:15.680
<v Speaker 2>that Roberts does in the book, and one of the

477
00:27:15.680 --> 00:27:20.400
<v Speaker 2>things I speculate about is he was never diagnosed with OCD,

478
00:27:20.640 --> 00:27:23.799
<v Speaker 2>but in my opinion, he definitely had it. So, you know,

479
00:27:24.400 --> 00:27:28.960
<v Speaker 2>aside from only, he hated dirty money, so he made

480
00:27:28.960 --> 00:27:32.240
<v Speaker 2>sure there is only clean and brand new bills there.

481
00:27:32.279 --> 00:27:36.200
<v Speaker 2>He also made sure that every picture in the clubhouse

482
00:27:36.799 --> 00:27:39.440
<v Speaker 2>has to have two hooks on it so that no

483
00:27:39.559 --> 00:27:42.960
<v Speaker 2>pictures are ever crooked. They make sure that the pine

484
00:27:43.000 --> 00:27:47.599
<v Speaker 2>straw around the trees is raked in a clockwise fashion only.

485
00:27:48.319 --> 00:27:53.640
<v Speaker 2>So if you look at at the Masters, Jones was

486
00:27:55.799 --> 00:27:59.720
<v Speaker 2>the reason most people came to the tournament. Both fans

487
00:27:59.759 --> 00:28:02.880
<v Speaker 2>came to the tournament, and that's the reason it got

488
00:28:03.039 --> 00:28:07.319
<v Speaker 2>established as a major, because the pros came to honor

489
00:28:07.359 --> 00:28:13.400
<v Speaker 2>Bobby Jones. But everything behind the scenes was really Roberts.

490
00:28:13.480 --> 00:28:16.440
<v Speaker 2>Jones really operated at a high level, let's say thirty

491
00:28:16.480 --> 00:28:23.759
<v Speaker 2>thousand feet. Roberts got into the detail of everything and

492
00:28:23.920 --> 00:28:28.200
<v Speaker 2>one of the reasons that the Master's broadcast to this

493
00:28:28.319 --> 00:28:32.039
<v Speaker 2>day is still so good. Those are the things that

494
00:28:32.160 --> 00:28:36.960
<v Speaker 2>Roberts laid down as the law. Right. He didn't want commercials.

495
00:28:37.039 --> 00:28:40.359
<v Speaker 2>He didn't want it commercial. He set it up so

496
00:28:40.440 --> 00:28:43.519
<v Speaker 2>that the agreements with the broadcasters are year to year,

497
00:28:44.279 --> 00:28:47.680
<v Speaker 2>so if they don't like what is going on. They

498
00:28:47.720 --> 00:28:51.839
<v Speaker 2>have control over it. And he would sit down with

499
00:28:52.000 --> 00:28:55.359
<v Speaker 2>CBS executives after every year and he would critique and say,

500
00:28:55.400 --> 00:28:58.559
<v Speaker 2>I like this, I don't like this. So again, one

501
00:28:58.640 --> 00:29:03.359
<v Speaker 2>of the reasons he he made the TV broadcast so

502
00:29:03.480 --> 00:29:06.880
<v Speaker 2>good is he said, look, I don't like chatty conversation.

503
00:29:07.279 --> 00:29:10.480
<v Speaker 2>I don't like broadcasters talking all the time. And for

504
00:29:11.319 --> 00:29:14.279
<v Speaker 2>any of your listeners that watch golf, which I'm sure

505
00:29:14.279 --> 00:29:17.920
<v Speaker 2>most of them do, it's very annoying. It's it's it's

506
00:29:17.960 --> 00:29:22.960
<v Speaker 2>sort of like the broadcasters feel like they can't have

507
00:29:23.039 --> 00:29:27.720
<v Speaker 2>any dead space, they can't have any quiet there.

508
00:29:29.039 --> 00:29:29.720
<v Speaker 1>This business.

509
00:29:30.200 --> 00:29:33.799
<v Speaker 2>And Roberts said, the last thing I want is quote

510
00:29:33.880 --> 00:29:38.960
<v Speaker 2>unquote chatty conversation. I don't want that. Golfers want useful information.

511
00:29:39.200 --> 00:29:43.400
<v Speaker 2>So a good example of that is if you go back,

512
00:29:43.480 --> 00:29:45.279
<v Speaker 2>I know you've had Jim Mantz as a guest on

513
00:29:45.319 --> 00:29:47.680
<v Speaker 2>your show. If you go back and look at his

514
00:29:47.759 --> 00:29:53.720
<v Speaker 2>most famous call, which was eighty six when Jack Nicholas

515
00:29:53.720 --> 00:29:57.200
<v Speaker 2>was charging for his last green jacket. That is where

516
00:29:57.240 --> 00:29:59.599
<v Speaker 2>he says the bear has come out of hibernation. If

517
00:29:59.599 --> 00:30:03.440
<v Speaker 2>you actually go and you listen to that, there are

518
00:30:04.400 --> 00:30:12.160
<v Speaker 2>long pauses and periods of silence even throughout that. After

519
00:30:12.279 --> 00:30:16.240
<v Speaker 2>Nant says the bear has come out of hibernation, he's

520
00:30:16.319 --> 00:30:19.920
<v Speaker 2>silent and nobody else talks. And the same thing if

521
00:30:19.920 --> 00:30:22.559
<v Speaker 2>you look at the most famous call with Tiger woodshot

522
00:30:23.240 --> 00:30:26.680
<v Speaker 2>on the sixteenth hole, where Verne Lunquist screams in your life,

523
00:30:26.720 --> 00:30:30.799
<v Speaker 2>have you ever seen that? After that, nobody says anything

524
00:30:30.799 --> 00:30:35.920
<v Speaker 2>for twenty seconds because they knew. You know that those

525
00:30:35.960 --> 00:30:38.759
<v Speaker 2>are the types of things that Cliff Roberts instilled in it,

526
00:30:39.160 --> 00:30:41.519
<v Speaker 2>And the fact that there's four minutes of commercials makes

527
00:30:41.559 --> 00:30:47.200
<v Speaker 2>it fantag fantastic. Roberts was just dead set against commercialism.

528
00:30:48.000 --> 00:30:49.920
<v Speaker 2>And I think I have a quote in the book

529
00:30:49.960 --> 00:30:53.279
<v Speaker 2>on this where one of the former chairmen said, we'd

530
00:30:53.400 --> 00:30:56.640
<v Speaker 2>rather shut the tournament down than have it be the

531
00:30:56.680 --> 00:31:00.799
<v Speaker 2>pizza hut masters. They just they don't they don't want

532
00:31:00.799 --> 00:31:03.839
<v Speaker 2>commercialism to be a part of it. And that goes

533
00:31:03.920 --> 00:31:07.960
<v Speaker 2>back to to what Cliff Roberts said he was, he

534
00:31:08.079 --> 00:31:09.039
<v Speaker 2>was the detail man.

535
00:31:09.519 --> 00:31:12.799
<v Speaker 1>Yeah. Well, you you repeat multiple times throughout the book

536
00:31:12.839 --> 00:31:14.000
<v Speaker 1>that it's not about the money.

537
00:31:14.880 --> 00:31:16.920
<v Speaker 2>No, it's not, it's not about the money at all.

538
00:31:16.960 --> 00:31:20.240
<v Speaker 2>If you look at if you look at like take

539
00:31:20.839 --> 00:31:23.079
<v Speaker 2>take the ability to buy anything. I notice you have

540
00:31:23.119 --> 00:31:26.480
<v Speaker 2>a Master's set on. The Only way to buy a

541
00:31:26.559 --> 00:31:30.160
<v Speaker 2>Master's brandy gear is to go and buy it in

542
00:31:30.160 --> 00:31:33.240
<v Speaker 2>person at the Masters. Certainly you can buy it in

543
00:31:33.279 --> 00:31:36.839
<v Speaker 2>the secondary market on eBay or other websites, but you

544
00:31:36.880 --> 00:31:40.160
<v Speaker 2>know you're paying a huge markup. Now, Augusta, they could

545
00:31:40.160 --> 00:31:44.960
<v Speaker 2>flood the zone. They could. They could make Masters items

546
00:31:44.960 --> 00:31:48.960
<v Speaker 2>available throughout you know, they could, they could, anybody could

547
00:31:48.960 --> 00:31:50.599
<v Speaker 2>buy it. They don't want to do that, they don't

548
00:31:50.599 --> 00:31:53.440
<v Speaker 2>need the money. They could certainly raise the price of

549
00:31:53.480 --> 00:31:56.240
<v Speaker 2>a sandwich, right instead of costing two fifty or five

550
00:31:56.279 --> 00:31:58.359
<v Speaker 2>dollars for a beer, they could double or triple those

551
00:31:58.920 --> 00:32:02.400
<v Speaker 2>and people would still buy them. It's just it's it's

552
00:32:02.720 --> 00:32:07.279
<v Speaker 2>they it's again, it's part of the ethos and they

553
00:32:07.359 --> 00:32:11.240
<v Speaker 2>they Yeah, it's just a core part of the club.

554
00:32:11.400 --> 00:32:14.359
<v Speaker 2>And again I give throughout the book, I give credit

555
00:32:14.480 --> 00:32:17.839
<v Speaker 2>to all the chairmen and members of the club over

556
00:32:17.839 --> 00:32:20.319
<v Speaker 2>the last hundred years that have stuck to that. It's

557
00:32:20.359 --> 00:32:22.759
<v Speaker 2>one thing for Jones and Roberts to say that, it's

558
00:32:22.799 --> 00:32:27.680
<v Speaker 2>another thing for the club to live up to those principles.

559
00:32:27.960 --> 00:32:29.440
<v Speaker 1>And it's the Old South.

560
00:32:30.039 --> 00:32:33.759
<v Speaker 2>Yeah, it's the Old South very much. I agree, and

561
00:32:33.799 --> 00:32:36.839
<v Speaker 2>it's created some crazy things. One of one of one

562
00:32:36.839 --> 00:32:39.960
<v Speaker 2>of my favorite things in the book is I don't

563
00:32:39.960 --> 00:32:42.799
<v Speaker 2>know how much people know about these The Masters has

564
00:32:42.839 --> 00:32:46.880
<v Speaker 2>these gnomes. They have limited edition garden gnomes. They're about

565
00:32:46.880 --> 00:32:49.559
<v Speaker 2>a foot toall. They won't tell you how many of

566
00:32:49.599 --> 00:32:52.599
<v Speaker 2>them in classic and classic Masters fashion. They don't tell

567
00:32:52.640 --> 00:32:54.799
<v Speaker 2>you a lot of things about what goes on behind

568
00:32:54.799 --> 00:32:57.240
<v Speaker 2>the scenes. They don't tell you how many of them

569
00:32:57.440 --> 00:33:00.680
<v Speaker 2>they issue per year. But I tell us story where

570
00:33:01.920 --> 00:33:04.599
<v Speaker 2>and I actually spoke to this individual. It's a millennial.

571
00:33:04.720 --> 00:33:07.880
<v Speaker 2>He lives in suburban Georgia. He bought the garden home.

572
00:33:08.000 --> 00:33:11.960
<v Speaker 2>The first year it was thirty nine dollars and fifty cents.

573
00:33:12.000 --> 00:33:14.920
<v Speaker 2>In twenty sixteen he bought it. He sold it in

574
00:33:14.960 --> 00:33:19.880
<v Speaker 2>twenty twenty four for eighty nine hundred dollars. So that

575
00:33:20.039 --> 00:33:23.559
<v Speaker 2>tells you a couple of things, right. It tells you,

576
00:33:23.640 --> 00:33:28.519
<v Speaker 2>Number one, how much people really value what you know.

577
00:33:28.559 --> 00:33:31.720
<v Speaker 2>Anything with a Master's logo on it is worth something.

578
00:33:31.759 --> 00:33:34.359
<v Speaker 2>You can travel anywhere in the world and people know

579
00:33:34.400 --> 00:33:38.000
<v Speaker 2>what the Master's logo is about. But it also it's

580
00:33:38.119 --> 00:33:40.200
<v Speaker 2>it's one of the ten principles I talk about in

581
00:33:40.240 --> 00:33:44.680
<v Speaker 2>the book, which is how do you use scarcity to

582
00:33:44.720 --> 00:33:49.279
<v Speaker 2>create value? Right? They've perfected that you can only buy

583
00:33:49.319 --> 00:33:53.960
<v Speaker 2>their things seven days a year in person, that's you

584
00:33:54.079 --> 00:33:57.759
<v Speaker 2>use scarcity and things create value. And the company in

585
00:33:57.799 --> 00:34:02.400
<v Speaker 2>the book that I use as an example where other

586
00:34:02.400 --> 00:34:05.559
<v Speaker 2>companies can do it outside is Ermes, the French high

587
00:34:05.640 --> 00:34:08.840
<v Speaker 2>end fashion retailer. You know they make the Birken bags

588
00:34:08.840 --> 00:34:12.519
<v Speaker 2>and they also limit those and they don't you basically

589
00:34:12.559 --> 00:34:14.960
<v Speaker 2>can't buy them, but they won't tell you how many

590
00:34:15.000 --> 00:34:19.320
<v Speaker 2>they make. So again it's just another example of how

591
00:34:19.360 --> 00:34:21.760
<v Speaker 2>you can take some of the things that Augusta does

592
00:34:21.840 --> 00:34:25.679
<v Speaker 2>and replicate them. But imagine buying something for thirty nine

593
00:34:25.840 --> 00:34:29.599
<v Speaker 2>fifty and selling it for almost nine thousand dollars. I mean,

594
00:34:29.639 --> 00:34:32.000
<v Speaker 2>hedge funds don't even have that rate of return.

595
00:34:39.480 --> 00:34:42.760
<v Speaker 1>So I need to share like my purchasing history when

596
00:34:42.760 --> 00:34:46.039
<v Speaker 1>I was there this year, And it still makes me

597
00:34:46.159 --> 00:34:51.760
<v Speaker 1>laugh when I do it, because I knew that I

598
00:34:51.840 --> 00:34:56.719
<v Speaker 1>wasn't aware that the scarcity mentality that they had about that,

599
00:34:57.159 --> 00:34:58.519
<v Speaker 1>but I knew I was going to have to buy

600
00:34:58.519 --> 00:35:01.360
<v Speaker 1>gifts for people I'm you know, my friends. I don't

601
00:35:01.400 --> 00:35:05.679
<v Speaker 1>have the opportunity that I had, and so I literally

602
00:35:05.719 --> 00:35:07.639
<v Speaker 1>went online starting to look for it, like, well, I

603
00:35:07.679 --> 00:35:09.639
<v Speaker 1>can get some hats cheaper and then I'll just buy

604
00:35:09.639 --> 00:35:11.239
<v Speaker 1>them and give them my friends say. I was there

605
00:35:11.280 --> 00:35:16.199
<v Speaker 1>and there was nothing. I couldn't mind anything, right, And

606
00:35:16.679 --> 00:35:20.679
<v Speaker 1>my son who he and I have been like who's

607
00:35:20.679 --> 00:35:22.320
<v Speaker 1>going to go first? Who's going to go first? You know?

608
00:35:22.360 --> 00:35:23.719
<v Speaker 1>And I never thought I was going to get to go,

609
00:35:23.760 --> 00:35:26.239
<v Speaker 1>and he was convinced he was going to go. I

610
00:35:26.280 --> 00:35:29.599
<v Speaker 1>went Wednesday and Thursday. He went Friday and Saturday. But

611
00:35:29.800 --> 00:35:33.760
<v Speaker 1>I was the guest of a member. So he said,

612
00:35:34.039 --> 00:35:38.400
<v Speaker 1>You've got to get me a hat from Augusta National.

613
00:35:38.440 --> 00:35:41.559
<v Speaker 1>That has Augusta National. I'm like, okay, I will, I

614
00:35:41.559 --> 00:35:45.599
<v Speaker 1>will find one. So I the first as soon as

615
00:35:45.639 --> 00:35:47.719
<v Speaker 1>we went through the gates, we went right to the

616
00:35:48.239 --> 00:35:50.599
<v Speaker 1>pro shop for the members that we got to go into.

617
00:35:50.639 --> 00:35:54.079
<v Speaker 1>We had the special members passes, and I asked him

618
00:35:54.079 --> 00:35:56.719
<v Speaker 1>when I said, do you have Augusta National hats? Like, no,

619
00:35:56.920 --> 00:36:00.000
<v Speaker 1>only Master's hats. And that was the end of the conference.

620
00:36:00.280 --> 00:36:03.119
<v Speaker 1>I'm like, oh, okay, Well, so I text my son, no,

621
00:36:03.480 --> 00:36:06.519
<v Speaker 1>there's no it's just Master is not a gust National.

622
00:36:07.079 --> 00:36:10.480
<v Speaker 1>So I'm still looking around and I'm shopping, and my

623
00:36:10.639 --> 00:36:13.559
<v Speaker 1>first shopping experience while I was there and I buy

624
00:36:13.639 --> 00:36:17.599
<v Speaker 1>the hat that I'm wearing right now for you. And

625
00:36:17.639 --> 00:36:20.639
<v Speaker 1>then my son, when I saw him two weeks later,

626
00:36:21.039 --> 00:36:25.199
<v Speaker 1>he's like, where'd you get that hat? And I said, well,

627
00:36:25.199 --> 00:36:26.400
<v Speaker 1>I bought it in the pro shop. It was the

628
00:36:26.440 --> 00:36:28.400
<v Speaker 1>one that I kind of liked it a lot and

629
00:36:28.440 --> 00:36:29.920
<v Speaker 1>it fit me really well. So yeah, I bought this

630
00:36:29.960 --> 00:36:33.280
<v Speaker 1>hat and he goes, well, that was only available in

631
00:36:33.360 --> 00:36:36.480
<v Speaker 1>the member's pro shop. Why didn't you get me that hat.

632
00:36:36.519 --> 00:36:39.760
<v Speaker 1>I'm like, I had no idea. They just told me

633
00:36:39.760 --> 00:36:41.920
<v Speaker 1>there were none, and he's like, well, give me the hat.

634
00:36:42.000 --> 00:36:43.760
<v Speaker 1>I'm like, no, I'm not going to give me the hat.

635
00:36:43.960 --> 00:36:45.840
<v Speaker 1>I love this hat. I'm going to wear this hat

636
00:36:45.880 --> 00:36:47.800
<v Speaker 1>a lot. And I don't wear baseball caps, but I'm

637
00:36:47.800 --> 00:36:49.159
<v Speaker 1>going to wear this hat a lot because we know

638
00:36:49.199 --> 00:36:50.800
<v Speaker 1>you got to give it. I'm not going to give

639
00:36:50.840 --> 00:36:52.159
<v Speaker 1>it to you. I love you, but I'm not going

640
00:36:52.159 --> 00:36:54.559
<v Speaker 1>to give you my hat. And he goes, well, that's okay,

641
00:36:54.599 --> 00:37:00.519
<v Speaker 1>I'll get it when you die. Okay, great, that's something

642
00:37:00.519 --> 00:37:03.320
<v Speaker 1>to look forward to. Then that's all you're getting from

643
00:37:03.360 --> 00:37:04.280
<v Speaker 1>me is my hat.

644
00:37:04.599 --> 00:37:09.199
<v Speaker 2>That's funny. Yeah, there's a whole most people wouldn't even

645
00:37:09.320 --> 00:37:10.559
<v Speaker 2>wouldn't even know, like.

646
00:37:12.199 --> 00:37:14.320
<v Speaker 1>Somebody offered me one thousand dollars in the market, a

647
00:37:14.400 --> 00:37:16.920
<v Speaker 1>trader Joe. Someone came up and goes, real, there're this

648
00:37:17.039 --> 00:37:18.840
<v Speaker 1>here and yeah, and he goes, I want your hat.

649
00:37:18.920 --> 00:37:20.440
<v Speaker 1>I'm like no, he goes, no, I'll give you a

650
00:37:20.440 --> 00:37:23.320
<v Speaker 1>thousand bucks. I'm like, no, my son wants it, and

651
00:37:23.360 --> 00:37:26.800
<v Speaker 1>he goes, I'll get and he followed me around the

652
00:37:26.840 --> 00:37:28.760
<v Speaker 1>market and we said goodbye, and then he came back

653
00:37:28.800 --> 00:37:30.639
<v Speaker 1>to my wife and he says, can you please get

654
00:37:30.679 --> 00:37:32.519
<v Speaker 1>him to give me the hat. I'm like, no, you

655
00:37:32.559 --> 00:37:33.480
<v Speaker 1>can't have that.

656
00:37:33.639 --> 00:37:33.840
<v Speaker 2>Wow.

657
00:37:34.360 --> 00:37:37.760
<v Speaker 1>And my son's like, you didn't take one thousand dollars

658
00:37:37.760 --> 00:37:39.719
<v Speaker 1>for the hat, and I'm like, no, it's going to

659
00:37:39.760 --> 00:37:42.719
<v Speaker 1>give it to you. He goes, I'd sell it for those.

660
00:37:46.760 --> 00:37:47.480
<v Speaker 2>That's funny.

661
00:37:48.000 --> 00:37:52.880
<v Speaker 1>Yeah, but one of the lines that you have here

662
00:37:53.079 --> 00:37:57.000
<v Speaker 1>just hit me right between the eyes. It was paid

663
00:37:57.039 --> 00:38:00.000
<v Speaker 1>one hundred ninety two. So excited to attend the Masters,

664
00:38:00.199 --> 00:38:03.840
<v Speaker 1>and I'm sure if they will ever return. Patrons sometimes

665
00:38:03.920 --> 00:38:08.599
<v Speaker 1>lose their senses, they do. That was me. That was me.

666
00:38:09.000 --> 00:38:12.119
<v Speaker 1>I went shopping four times in the two days that

667
00:38:12.199 --> 00:38:15.880
<v Speaker 1>I was there. I bought a home, only the little

668
00:38:15.920 --> 00:38:17.840
<v Speaker 1>one because they were out of the big ones and.

669
00:38:17.800 --> 00:38:20.840
<v Speaker 2>I went the big one's the big ones fell out

670
00:38:20.920 --> 00:38:22.239
<v Speaker 2>the door. Yeah, the big ones.

671
00:38:22.280 --> 00:38:25.039
<v Speaker 1>They do have a small one. And I spend I

672
00:38:25.920 --> 00:38:27.400
<v Speaker 1>and this is of course, I know I'm never going

673
00:38:27.480 --> 00:38:30.639
<v Speaker 1>to play and I you know, if I go shopping

674
00:38:30.679 --> 00:38:33.360
<v Speaker 1>in a pro shop because oh I'm never gonna play

675
00:38:33.360 --> 00:38:35.199
<v Speaker 1>this course again, or I had a great round or

676
00:38:35.199 --> 00:38:37.480
<v Speaker 1>something like that, I'll go right to the sales rack

677
00:38:37.559 --> 00:38:40.440
<v Speaker 1>and if I have to, I'll move beyond that and

678
00:38:40.480 --> 00:38:45.159
<v Speaker 1>spend ninety dollars. I spent eighteen hundred dollars YEP in

679
00:38:45.400 --> 00:38:48.400
<v Speaker 1>four trips. Luckily they let you go back to your

680
00:38:48.440 --> 00:38:49.440
<v Speaker 1>car and come back.

681
00:38:50.039 --> 00:38:53.440
<v Speaker 2>Yes, they also went nuts. They also allow you to

682
00:38:53.800 --> 00:38:56.400
<v Speaker 2>They have a UPS shipping station there. You can just

683
00:38:57.000 --> 00:38:59.320
<v Speaker 2>walk out of the pro shop. They'll box it up

684
00:38:59.360 --> 00:39:03.559
<v Speaker 2>and and you can send it to yourself. The average

685
00:39:03.599 --> 00:39:09.239
<v Speaker 2>spend is four hundred and fifty dollars more or less

686
00:39:10.119 --> 00:39:12.559
<v Speaker 2>there and they asked, I have this in the book too,

687
00:39:12.599 --> 00:39:18.599
<v Speaker 2>because again it's that whole scarcity factor. They asked one

688
00:39:18.679 --> 00:39:22.559
<v Speaker 2>of the ladies that was working check out, what's the

689
00:39:22.599 --> 00:39:27.159
<v Speaker 2>biggest purchase she ever saw, and she said twenty thousand dollars,

690
00:39:28.559 --> 00:39:31.039
<v Speaker 2>So that could be there's a lot of people that

691
00:39:31.119 --> 00:39:33.360
<v Speaker 2>just go to the Masters and get tickets just to

692
00:39:33.400 --> 00:39:37.119
<v Speaker 2>sell on eBay. She said, basically they bought like three

693
00:39:37.159 --> 00:39:40.760
<v Speaker 2>of everything. To me, that sounds like a reseller, which

694
00:39:41.199 --> 00:39:44.599
<v Speaker 2>at some point, you know, it's very very difficult, if

695
00:39:44.639 --> 00:39:48.840
<v Speaker 2>not impossible, to resell Masters tickets now they're all coded

696
00:39:49.400 --> 00:39:52.559
<v Speaker 2>and if you try to sell them, they'll deactivate the ticket.

697
00:39:52.840 --> 00:39:54.800
<v Speaker 2>I wouldn't be surprised if at some point they do

698
00:39:54.880 --> 00:39:57.199
<v Speaker 2>the same thing with people that are trying to resell,

699
00:39:57.239 --> 00:40:00.199
<v Speaker 2>because they really One of the things that they do

700
00:40:00.440 --> 00:40:03.320
<v Speaker 2>exceptionally well, and I go through this in the book

701
00:40:03.400 --> 00:40:07.119
<v Speaker 2>is nothing is more important than the brand. You alluded

702
00:40:07.119 --> 00:40:09.559
<v Speaker 2>to it, right, It's not about money. They could certainly

703
00:40:09.599 --> 00:40:12.280
<v Speaker 2>make more money by doing a lot of different things.

704
00:40:12.360 --> 00:40:16.000
<v Speaker 2>They could start to charge the broadcasters, for instance, but

705
00:40:16.320 --> 00:40:20.360
<v Speaker 2>they are just very protective of the brand, which in

706
00:40:20.440 --> 00:40:23.039
<v Speaker 2>the long run makes all the sense in the world. Right,

707
00:40:23.119 --> 00:40:25.280
<v Speaker 2>look at that little logo on your hat. How much

708
00:40:25.320 --> 00:40:29.599
<v Speaker 2>that's worth. That's the brand, exactly right. It's not always

709
00:40:29.599 --> 00:40:31.320
<v Speaker 2>about money, yeah, but.

710
00:40:31.320 --> 00:40:34.320
<v Speaker 1>They also get the right people to do this. You

711
00:40:34.639 --> 00:40:38.719
<v Speaker 1>talk about in the book about how they their national

712
00:40:39.440 --> 00:40:43.800
<v Speaker 1>the chief Merchandise and Creative Services Officer correct, give you

713
00:40:43.800 --> 00:40:44.519
<v Speaker 1>a little bit about that.

714
00:40:44.639 --> 00:40:48.960
<v Speaker 2>Yes, So I would say the most frequent comment I

715
00:40:49.039 --> 00:40:54.000
<v Speaker 2>hear from people, even when you're on property or after

716
00:40:54.079 --> 00:40:59.679
<v Speaker 2>the fact, is it feels like an adult Disneyland. And

717
00:40:59.760 --> 00:41:05.559
<v Speaker 2>part of that is there everybody's aim is to have

718
00:41:05.639 --> 00:41:09.159
<v Speaker 2>you feel good that day, and everybody, like you said before,

719
00:41:09.679 --> 00:41:12.559
<v Speaker 2>bathroom attendance, people that are checking you out after you

720
00:41:12.599 --> 00:41:16.480
<v Speaker 2>buy your permento, cheese sandwich, et cetera. But one of

721
00:41:16.559 --> 00:41:20.360
<v Speaker 2>the things that they do exceptionally well that I think

722
00:41:20.360 --> 00:41:22.920
<v Speaker 2>they don't get enough credit for is the way they

723
00:41:22.960 --> 00:41:27.920
<v Speaker 2>manage talent. And the example I give is they hired

724
00:41:28.719 --> 00:41:33.119
<v Speaker 2>someone who ran the merchandising operation for Walt Disney, and

725
00:41:33.199 --> 00:41:35.280
<v Speaker 2>I think that person's been at the club for a

726
00:41:35.320 --> 00:41:38.679
<v Speaker 2>dozen years or so. And if you look at what

727
00:41:38.719 --> 00:41:41.480
<v Speaker 2>they've done in terms of merchandise and what they offer

728
00:41:41.679 --> 00:41:47.519
<v Speaker 2>over that dozen years, they've greatly expanded the size of

729
00:41:47.599 --> 00:41:50.840
<v Speaker 2>the of the pro shop that you go into buy

730
00:41:50.880 --> 00:41:56.119
<v Speaker 2>Master's gear, and they now do brand partnerships with selected

731
00:41:56.159 --> 00:41:59.599
<v Speaker 2>brands that are only high quality. That's just one example.

732
00:42:00.119 --> 00:42:04.039
<v Speaker 2>So obviously, you know, the three hundred members of Augusta

733
00:42:04.119 --> 00:42:07.519
<v Speaker 2>are all very successful people. They can't do the day,

734
00:42:07.800 --> 00:42:11.199
<v Speaker 2>the day today, and when you go, if you sit

735
00:42:11.239 --> 00:42:13.679
<v Speaker 2>down and you have lunch, you know, to a person,

736
00:42:13.920 --> 00:42:17.840
<v Speaker 2>all the people that you're dealing with are cheerful. And

737
00:42:17.960 --> 00:42:21.880
<v Speaker 2>I don't I don't know any other company or brand

738
00:42:22.119 --> 00:42:25.159
<v Speaker 2>or location in the world. You know, Disney's probably the

739
00:42:25.199 --> 00:42:30.480
<v Speaker 2>closest where everybody is that good. So again I couldn't

740
00:42:30.480 --> 00:42:33.719
<v Speaker 2>find out what they do exactly in terms of their

741
00:42:33.760 --> 00:42:37.920
<v Speaker 2>training program. But I don't know how you get every

742
00:42:37.960 --> 00:42:41.119
<v Speaker 2>single person on a location to be that up beaten,

743
00:42:41.199 --> 00:42:44.880
<v Speaker 2>chirpy all the time. It's it's it's an exceptional part

744
00:42:44.960 --> 00:42:47.480
<v Speaker 2>of what they do, and to me, they don't get

745
00:42:47.599 --> 00:42:51.119
<v Speaker 2>enough credit for that. But again, I think it's talent management.

746
00:42:51.159 --> 00:42:53.719
<v Speaker 2>It's going out, it's finding the right people, it's paying

747
00:42:53.760 --> 00:42:56.239
<v Speaker 2>them well, it's grooming them and taking care of them.

748
00:42:57.039 --> 00:42:59.840
<v Speaker 2>There's there's just so many and that again, that's one

749
00:42:59.840 --> 00:43:03.360
<v Speaker 2>of the reasons when where I started out as a

750
00:43:03.360 --> 00:43:06.360
<v Speaker 2>golf book and then transitioned over. You know, it's still

751
00:43:06.800 --> 00:43:11.800
<v Speaker 2>seventy eighty percent golf and golf fans will will really

752
00:43:11.880 --> 00:43:14.519
<v Speaker 2>enjoy the book, even if they're not, you know, into

753
00:43:14.599 --> 00:43:19.079
<v Speaker 2>making business decisions. But it's just really interesting some of

754
00:43:19.119 --> 00:43:22.039
<v Speaker 2>the decisions that they've made. The other thing that they

755
00:43:22.079 --> 00:43:27.320
<v Speaker 2>don't get enough credit for. Right, It's it's essentially a

756
00:43:27.360 --> 00:43:31.000
<v Speaker 2>lot of wealthy people that are successful. They're not young,

757
00:43:31.800 --> 00:43:34.360
<v Speaker 2>you know they and I give an example, they have

758
00:43:34.440 --> 00:43:38.280
<v Speaker 2>a technology committee and the average age of their technology

759
00:43:38.280 --> 00:43:43.840
<v Speaker 2>committee is sixty five years old. But arguably they are

760
00:43:43.960 --> 00:43:49.360
<v Speaker 2>one of the best users of technology in the world

761
00:43:49.519 --> 00:43:53.719
<v Speaker 2>across any industry. If you use the Master's app, if

762
00:43:53.719 --> 00:43:56.559
<v Speaker 2>you look at what they do in terms of their broadcast,

763
00:43:56.679 --> 00:43:59.840
<v Speaker 2>or you can go and you can just watch Amen Corner.

764
00:44:00.119 --> 00:44:04.880
<v Speaker 2>You can watch every shot of any player they're on.

765
00:44:05.679 --> 00:44:10.079
<v Speaker 2>I think it's fifteen different social media channels. I mean,

766
00:44:10.800 --> 00:44:13.159
<v Speaker 2>you know, you and I aren't aren't Spring chickens either.

767
00:44:13.239 --> 00:44:17.679
<v Speaker 2>But they're huge users of TikTok. Right. The average age

768
00:44:17.679 --> 00:44:22.280
<v Speaker 2>of a TikTok user is is high teens, right, and

769
00:44:22.400 --> 00:44:25.800
<v Speaker 2>most most TikTok users are in Asia or Latin America.

770
00:44:26.519 --> 00:44:30.199
<v Speaker 2>They're very sophisticated in terms of how they use technology.

771
00:44:30.880 --> 00:44:33.519
<v Speaker 2>And it's and it's one of the lessons that to

772
00:44:33.599 --> 00:44:37.760
<v Speaker 2>me that really came out as I started to analyze

773
00:44:37.800 --> 00:44:41.280
<v Speaker 2>the company. And frankly, when you go outside the Master's

774
00:44:41.320 --> 00:44:48.599
<v Speaker 2>most you know, Masters only uses technology to help you.

775
00:44:49.800 --> 00:44:52.840
<v Speaker 2>And most technology and I use a couple of examples

776
00:44:52.840 --> 00:44:55.800
<v Speaker 2>in the books. Try calling your cable company or your

777
00:44:55.840 --> 00:44:58.760
<v Speaker 2>power company or ups. First of all, you're not going

778
00:44:58.840 --> 00:45:00.719
<v Speaker 2>to get anybody. You're going to get at some phone

779
00:45:00.719 --> 00:45:03.239
<v Speaker 2>tree that's mind numbing and it's going to take you

780
00:45:03.280 --> 00:45:05.519
<v Speaker 2>five minutes to get through that. When you get through that,

781
00:45:05.599 --> 00:45:07.800
<v Speaker 2>you're going to get to some chatbot that doesn't work,

782
00:45:09.039 --> 00:45:10.719
<v Speaker 2>and then maybe you're going to be put on hold

783
00:45:10.800 --> 00:45:14.639
<v Speaker 2>for twenty minutes. That's the way most companies use technology.

784
00:45:14.719 --> 00:45:19.079
<v Speaker 2>They're using it to prevent you from getting to a person.

785
00:45:19.159 --> 00:45:22.400
<v Speaker 2>They're using it to save money. And again there's a

786
00:45:22.480 --> 00:45:25.440
<v Speaker 2>huge lesson in there about how you don't have to

787
00:45:25.519 --> 00:45:29.599
<v Speaker 2>do that. And I use a company in of all places,

788
00:45:29.719 --> 00:45:34.400
<v Speaker 2>a pleasant Prairie, Wisconsin, called you Line, and they sell

789
00:45:34.480 --> 00:45:39.079
<v Speaker 2>shipping supplies and cardboard boxes and stuff. When you call

790
00:45:39.199 --> 00:45:44.000
<v Speaker 2>you Line, the phone never rings. Go look up their

791
00:45:44.039 --> 00:45:47.079
<v Speaker 2>eight one hundred number and dial their number. I guarantee

792
00:45:47.239 --> 00:45:51.800
<v Speaker 2>the phone will in a second or less. The head

793
00:45:51.800 --> 00:45:54.760
<v Speaker 2>of the company says, we pick up the phones faster

794
00:45:54.880 --> 00:45:57.039
<v Speaker 2>than nine one one when you dial nine to one one,

795
00:45:57.360 --> 00:46:01.440
<v Speaker 2>and he's right, it's incredible. That's that's an that's a

796
00:46:01.599 --> 00:46:05.199
<v Speaker 2>brilliant use of technology. So again it's a it's a small,

797
00:46:05.320 --> 00:46:09.519
<v Speaker 2>relatively small, privately held company. It's just another good example

798
00:46:09.599 --> 00:46:14.039
<v Speaker 2>of how if you use technology wisely, you can actually

799
00:46:14.119 --> 00:46:17.199
<v Speaker 2>help people and create a better environment. And it's another

800
00:46:17.239 --> 00:46:20.400
<v Speaker 2>good example of how the world can be more like

801
00:46:20.440 --> 00:46:24.360
<v Speaker 2>the Masters if more companies and decision makers decided that

802
00:46:24.760 --> 00:46:27.119
<v Speaker 2>it was it was a good goal and worthy to

803
00:46:27.159 --> 00:46:27.440
<v Speaker 2>do that.

804
00:46:33.719 --> 00:46:36.840
<v Speaker 1>To me, what stands out about your book what I

805
00:46:36.920 --> 00:46:40.800
<v Speaker 1>enjoyed so much is how you take a business view

806
00:46:41.760 --> 00:46:46.159
<v Speaker 1>of something that all golfers and many non golfers appreciate,

807
00:46:46.239 --> 00:46:51.039
<v Speaker 1>and that is what The Masters represents, not only to

808
00:46:51.239 --> 00:46:55.159
<v Speaker 1>the sport, but also to the passage of time. It's like,

809
00:46:55.199 --> 00:47:00.280
<v Speaker 1>when the Masters happens, it's ah, it's springtime. It's time

810
00:47:00.320 --> 00:47:03.559
<v Speaker 1>to start thinking about and going out and playing golf again.

811
00:47:04.480 --> 00:47:07.239
<v Speaker 1>Why is it in the book that you felt that

812
00:47:08.800 --> 00:47:14.079
<v Speaker 1>the Masters would fly over the heads of private equity people.

813
00:47:15.000 --> 00:47:16.800
<v Speaker 1>Going back into the business element of.

814
00:47:16.719 --> 00:47:19.440
<v Speaker 2>It, Yeah, one of the things I did is so

815
00:47:19.519 --> 00:47:24.719
<v Speaker 2>if I look, I have something like twenty twenty two

816
00:47:24.840 --> 00:47:30.119
<v Speaker 2>or twenty four companies that I compare The Masters to.

817
00:47:31.039 --> 00:47:35.280
<v Speaker 2>So it's it's it's Disney it's you line, it's Bucky's,

818
00:47:35.360 --> 00:47:39.239
<v Speaker 2>but it's also you know, places like publics and stuff.

819
00:47:39.280 --> 00:47:41.320
<v Speaker 2>And one of the things I did when I started

820
00:47:41.320 --> 00:47:44.840
<v Speaker 2>to analyze it, even though publics is a huge supermarket,

821
00:47:44.920 --> 00:47:49.159
<v Speaker 2>it's employee owned. And eighty percent of the companies that

822
00:47:49.239 --> 00:47:54.039
<v Speaker 2>I ended up comparing to from in the book were

823
00:47:54.079 --> 00:48:00.920
<v Speaker 2>either employee owned or privately owned, and the other twenty percent,

824
00:48:01.000 --> 00:48:03.280
<v Speaker 2>and frankly most I give a lot of examples of

825
00:48:03.360 --> 00:48:06.960
<v Speaker 2>companies that do a horrible job, almost all of them

826
00:48:07.000 --> 00:48:11.400
<v Speaker 2>were owned by they're either public big public companies, or

827
00:48:11.440 --> 00:48:13.800
<v Speaker 2>they were owned by private equity. So it's not something

828
00:48:13.880 --> 00:48:17.039
<v Speaker 2>I came in and said, this is something I want

829
00:48:17.079 --> 00:48:19.079
<v Speaker 2>to try to prove or disprove. I just looked at

830
00:48:19.280 --> 00:48:22.280
<v Speaker 2>and analyzed as I went through it, and I think,

831
00:48:22.320 --> 00:48:27.000
<v Speaker 2>fred it comes back to just money. If if you're

832
00:48:27.000 --> 00:48:29.480
<v Speaker 2>in private equity and you're investing in something and you

833
00:48:29.880 --> 00:48:32.880
<v Speaker 2>want to get a return on it, what's your time horizon?

834
00:48:33.159 --> 00:48:37.519
<v Speaker 2>Right Augusta's time horizon. They're looking at twenty thirty years

835
00:48:37.880 --> 00:48:41.679
<v Speaker 2>and they're thinking about the brand. They're not thinking about money.

836
00:48:41.760 --> 00:48:46.119
<v Speaker 2>So same thing. If your employee owned, you're going to

837
00:48:46.199 --> 00:48:48.440
<v Speaker 2>do everything you can to make sure that the company

838
00:48:48.480 --> 00:48:51.760
<v Speaker 2>is successful, because if the company does well, you do well.

839
00:48:52.320 --> 00:48:55.880
<v Speaker 2>It's just a matter of the incentives, I think. And

840
00:48:56.000 --> 00:48:58.519
<v Speaker 2>obviously there are public companies like Disney that do a

841
00:48:58.519 --> 00:49:02.039
<v Speaker 2>good job. But my experience, the bigger the company, the

842
00:49:02.039 --> 00:49:08.480
<v Speaker 2>more bureaucratic, and companies that are that are owned by

843
00:49:09.079 --> 00:49:12.599
<v Speaker 2>private equity and and and other owners that are just

844
00:49:12.639 --> 00:49:15.599
<v Speaker 2>looking to milk it and make money out of it,

845
00:49:15.679 --> 00:49:18.320
<v Speaker 2>to me, they don't. They don't live the principle. Certainly,

846
00:49:18.320 --> 00:49:20.480
<v Speaker 2>there's going to be exceptions. I'm sure I'll get calls

847
00:49:20.519 --> 00:49:25.000
<v Speaker 2>from people that are in private equity complaining about that comment,

848
00:49:25.079 --> 00:49:27.800
<v Speaker 2>but as a general rule that that's what I found

849
00:49:27.800 --> 00:49:29.519
<v Speaker 2>as I analyzed.

850
00:49:29.079 --> 00:49:34.280
<v Speaker 1>The book interesting. You also, and I hope it's okay

851
00:49:34.280 --> 00:49:36.679
<v Speaker 1>to talk about this. You were quite revealing about your

852
00:49:36.679 --> 00:49:41.559
<v Speaker 1>personal story. Yes, you even said I've lived two lives.

853
00:49:42.159 --> 00:49:47.519
<v Speaker 2>I have. Yeah, yeah, I think the way I describe

854
00:49:47.559 --> 00:49:54.159
<v Speaker 2>it is the first life was I mean, I was.

855
00:49:55.199 --> 00:49:59.079
<v Speaker 2>I was wildly successful, given you know, I didn't excel

856
00:49:59.119 --> 00:50:03.039
<v Speaker 2>at school. I was fantastic at sports, but I ended

857
00:50:03.119 --> 00:50:07.480
<v Speaker 2>up doing very well in business. I have a fantastic family.

858
00:50:08.280 --> 00:50:11.599
<v Speaker 2>I played the top hundred courses, right, I mean it

859
00:50:11.639 --> 00:50:14.840
<v Speaker 2>was a dream life, and then in twenty eighteen, I

860
00:50:14.920 --> 00:50:18.760
<v Speaker 2>was diagnosed with leukemia and my first life ended in

861
00:50:18.800 --> 00:50:23.719
<v Speaker 2>one day. Leukemia is cancered the blood, and I had

862
00:50:23.760 --> 00:50:31.400
<v Speaker 2>a particular strain that is very deadly, unfortunately, so they

863
00:50:31.400 --> 00:50:33.679
<v Speaker 2>put me in an ambulance. I went to the hospital.

864
00:50:33.800 --> 00:50:35.920
<v Speaker 2>I wasn't allowed to leave for thirty days. I had

865
00:50:35.920 --> 00:50:41.639
<v Speaker 2>a bone marrow transplant and since then, you know, there's

866
00:50:41.679 --> 00:50:44.840
<v Speaker 2>a lot of complications. I'm lucky to be alive. Let

867
00:50:44.840 --> 00:50:47.400
<v Speaker 2>me just say first and foremost that I'm not complaining

868
00:50:47.400 --> 00:50:50.880
<v Speaker 2>about anything. Every day is a gift. I'm happy to

869
00:50:50.920 --> 00:50:53.800
<v Speaker 2>be here. But you know, I deal with a lot

870
00:50:53.800 --> 00:50:58.960
<v Speaker 2>of issues from the bone marrow transplant. And it sounds goofy,

871
00:50:59.119 --> 00:51:02.239
<v Speaker 2>but you know, when I was in the hospital and

872
00:51:02.320 --> 00:51:04.760
<v Speaker 2>I had some moments that were not so great, and

873
00:51:05.039 --> 00:51:06.679
<v Speaker 2>you know, I obviously wanted to get out to be

874
00:51:06.760 --> 00:51:10.679
<v Speaker 2>with my family and my friends and so forth, but

875
00:51:10.719 --> 00:51:13.519
<v Speaker 2>I also dreamed about one day, like returning to go

876
00:51:13.639 --> 00:51:16.599
<v Speaker 2>back to the Masters. As odd as that sounds, because

877
00:51:17.280 --> 00:51:19.400
<v Speaker 2>you know, I'm stuck in After you have a bone

878
00:51:19.400 --> 00:51:23.320
<v Speaker 2>marrow transplant, It's sort of like the Seinfeld episode with

879
00:51:23.360 --> 00:51:27.000
<v Speaker 2>the bubble Boy. You're stuck in a room. When nurses

880
00:51:27.039 --> 00:51:30.000
<v Speaker 2>and doctors come in, they have to put on special equipment.

881
00:51:30.400 --> 00:51:32.559
<v Speaker 2>You're not allowed to leave the room for thirty days.

882
00:51:32.599 --> 00:51:36.360
<v Speaker 2>You know. I'm hooked up to five or six different

883
00:51:38.119 --> 00:51:41.840
<v Speaker 2>monitors and ivs and so forth. It's such an antiseptic

884
00:51:42.039 --> 00:51:46.800
<v Speaker 2>environment and it really just crushes the soul. And to me,

885
00:51:47.400 --> 00:51:49.719
<v Speaker 2>the best place in the world. And you've been there,

886
00:51:49.760 --> 00:51:53.280
<v Speaker 2>anybody that's been there. When you're standing by the thirteenth

887
00:51:53.400 --> 00:51:58.679
<v Speaker 2>Green or you're near Amen Corner, it's heaven. And I

888
00:51:58.800 --> 00:52:01.440
<v Speaker 2>just you know, one of the things that motivated me

889
00:52:01.679 --> 00:52:04.760
<v Speaker 2>to write the book is I just wanted to know

890
00:52:04.840 --> 00:52:07.079
<v Speaker 2>more about it. I wanted to go back, and I

891
00:52:07.119 --> 00:52:12.800
<v Speaker 2>did a couple of years after. You know, my doctor said, no,

892
00:52:12.960 --> 00:52:15.400
<v Speaker 2>you really can't go. You can't fly. You don't have

893
00:52:15.440 --> 00:52:17.679
<v Speaker 2>a good immune system. You know. She was hemming and

894
00:52:17.760 --> 00:52:21.320
<v Speaker 2>horn and eventually I say in the book, I say,

895
00:52:21.400 --> 00:52:24.800
<v Speaker 2>you know, like most people don't know a lot about golf,

896
00:52:25.360 --> 00:52:27.440
<v Speaker 2>the majority of people out there, but they know what

897
00:52:27.480 --> 00:52:31.599
<v Speaker 2>the Masters is. And you know, she's seventy years old,

898
00:52:32.079 --> 00:52:35.840
<v Speaker 2>my oncologist, she has no clue about golf, but she

899
00:52:35.920 --> 00:52:38.320
<v Speaker 2>knows what the Masters is. You know, she recognizes the

900
00:52:38.719 --> 00:52:42.239
<v Speaker 2>theme song and she'll watch on Sunday. That's the only

901
00:52:42.280 --> 00:52:45.440
<v Speaker 2>golf she ever watches. So she gave me permission and

902
00:52:45.880 --> 00:52:49.760
<v Speaker 2>we ended up going back and I said, you know,

903
00:52:49.840 --> 00:52:53.320
<v Speaker 2>that's when my mental healing began. You know, the doctors

904
00:52:53.320 --> 00:52:56.280
<v Speaker 2>that treated me did a phenomenal job. I'm forever grateful

905
00:52:56.880 --> 00:52:59.320
<v Speaker 2>to what they did, but it just beats you down

906
00:53:00.199 --> 00:53:04.480
<v Speaker 2>spiritually and mentally, and for me, everybody's got something different.

907
00:53:05.159 --> 00:53:07.480
<v Speaker 2>That's one of the things I really wanted to do.

908
00:53:07.679 --> 00:53:12.199
<v Speaker 2>So call it an obsession about Augusta National or the Masters,

909
00:53:12.239 --> 00:53:15.039
<v Speaker 2>whatever you want, but that's one of the things I

910
00:53:15.119 --> 00:53:17.719
<v Speaker 2>dreamed of and I've been working on the book for

911
00:53:17.760 --> 00:53:20.039
<v Speaker 2>three years and it's just been a dream project for

912
00:53:20.159 --> 00:53:23.800
<v Speaker 2>me because I can't get enough things Augusta. I just

913
00:53:23.880 --> 00:53:27.559
<v Speaker 2>love everything about what they do because, as you know,

914
00:53:27.639 --> 00:53:31.679
<v Speaker 2>you've been there, and hopefully you know, people listening if

915
00:53:31.679 --> 00:53:35.079
<v Speaker 2>they haven't been able to go and keep trying the lottery,

916
00:53:36.320 --> 00:53:40.199
<v Speaker 2>eventually you'll win. I won the lottery last year for

917
00:53:40.280 --> 00:53:43.960
<v Speaker 2>the first time ever. It took fifteen years to win,

918
00:53:44.079 --> 00:53:48.199
<v Speaker 2>so there's hope for anybody to go. And it's I

919
00:53:48.239 --> 00:53:51.360
<v Speaker 2>think it should be a life goal of anybody because

920
00:53:52.880 --> 00:53:57.159
<v Speaker 2>you know, Disneyland is for kids, but Augusta's for adults.

921
00:53:57.280 --> 00:54:00.199
<v Speaker 2>And it's hard to describe right, as much as I

922
00:54:00.199 --> 00:54:02.119
<v Speaker 2>try to do it in the book, unless you have

923
00:54:02.239 --> 00:54:07.000
<v Speaker 2>actually been on property and experience at firsthand, it's very

924
00:54:07.039 --> 00:54:10.239
<v Speaker 2>difficult to relate that, which is why people are so

925
00:54:10.360 --> 00:54:12.639
<v Speaker 2>insane when they come back from the Masters and they

926
00:54:12.639 --> 00:54:14.400
<v Speaker 2>lose their minds when they go into the pro shop,

927
00:54:14.840 --> 00:54:17.239
<v Speaker 2>because it's like you're a kid at a candy story.

928
00:54:17.280 --> 00:54:20.039
<v Speaker 2>You're like, I finally made it, and I might never

929
00:54:20.159 --> 00:54:22.679
<v Speaker 2>come back. So I'm going to buy everything, and I'm

930
00:54:22.719 --> 00:54:25.119
<v Speaker 2>going to give a gift to everybody I know. Yep,

931
00:54:25.199 --> 00:54:27.320
<v Speaker 2>it's not uncommon, Fred, not uncommon.

932
00:54:28.360 --> 00:54:31.920
<v Speaker 1>Well, good gee, that makes me feel better. Well, here's

933
00:54:31.920 --> 00:54:33.199
<v Speaker 1>a little gift for you. John.

934
00:54:35.280 --> 00:54:38.400
<v Speaker 2>Oh awesome, best song in the world.

935
00:54:39.039 --> 00:54:42.880
<v Speaker 1>Yeah, you know, there are probably I can think of

936
00:54:43.119 --> 00:54:47.960
<v Speaker 1>three life goals for golfers. One would be a hole

937
00:54:48.000 --> 00:54:54.800
<v Speaker 1>in one yep. Two getting to witness the Masters in person. Yeah,

938
00:54:55.800 --> 00:54:59.840
<v Speaker 1>And to me, my ultimate one now is someday shooting

939
00:54:59.880 --> 00:55:00.360
<v Speaker 1>my ag.

940
00:55:01.000 --> 00:55:05.760
<v Speaker 2>Yeah. That's a good one too. Yeah. Yeah. So it's.

941
00:55:07.199 --> 00:55:11.280
<v Speaker 1>I hope you're well now, Yes, thank you. I'm so

942
00:55:11.320 --> 00:55:14.679
<v Speaker 1>sorry about all the troubles that you've been through and.

943
00:55:15.400 --> 00:55:17.920
<v Speaker 2>I consider myself lucky in many respects. But thank you.

944
00:55:18.159 --> 00:55:21.800
<v Speaker 1>Oh yeah, yeah, and I consider myself lucky because I

945
00:55:21.840 --> 00:55:24.039
<v Speaker 1>got a chance to talk to you again and about

946
00:55:24.119 --> 00:55:29.559
<v Speaker 1>this book again. I think if anybody listening, if in

947
00:55:29.679 --> 00:55:32.960
<v Speaker 1>fact you have or are part of a business that

948
00:55:33.039 --> 00:55:36.159
<v Speaker 1>you want to help grow, yeah, to look at this

949
00:55:36.280 --> 00:55:41.480
<v Speaker 1>book and take it seriously. It's called The Augusta Principles.

950
00:55:41.239 --> 00:55:43.119
<v Speaker 2>Right, yes, thank you, Fred.

951
00:55:43.199 --> 00:55:46.159
<v Speaker 1>Please please share with us how to find more about

952
00:55:46.159 --> 00:55:49.239
<v Speaker 1>the book about you where to get it.

953
00:55:49.559 --> 00:55:51.719
<v Speaker 2>Yeah, there's a website. I think I sent the link

954
00:55:52.719 --> 00:55:56.239
<v Speaker 2>with this episode. There's a website called the Augusta Principles

955
00:55:56.840 --> 00:55:59.679
<v Speaker 2>that people could visit or google or the books available

956
00:55:59.679 --> 00:56:01.920
<v Speaker 2>on am on a lot of people buy it on Amazon.

957
00:56:02.119 --> 00:56:03.440
<v Speaker 2>But thank you for that, Fred.

958
00:56:03.599 --> 00:56:09.159
<v Speaker 1>Yep, absolutely, John, it was great to catch up again

959
00:56:09.239 --> 00:56:12.039
<v Speaker 1>after so long. I can't believe the Gulf Smarter is

960
00:56:12.079 --> 00:56:14.480
<v Speaker 1>still going on and that we were able to reconnect

961
00:56:14.519 --> 00:56:15.880
<v Speaker 1>after so many years.

962
00:56:16.159 --> 00:56:19.239
<v Speaker 2>Ye. Well, your podcast is so good, that's why you've

963
00:56:19.280 --> 00:56:20.320
<v Speaker 2>been doing it for so long.

964
00:56:20.400 --> 00:56:23.760
<v Speaker 1>Fred, No, I'm just I've got that, you know, the

965
00:56:23.800 --> 00:56:26.480
<v Speaker 1>OCD thing that we talked about with Clip Roberts, like

966
00:56:27.000 --> 00:56:29.039
<v Speaker 1>can't stop just can't stop because if I do, I'll

967
00:56:29.079 --> 00:56:34.280
<v Speaker 1>never come back. I gotta keep going. But it's it's

968
00:56:34.280 --> 00:56:37.239
<v Speaker 1>been an incredible journey, and I'm so glad to have

969
00:56:37.320 --> 00:56:40.559
<v Speaker 1>you help me put it all together. On both sides.

970
00:56:41.159 --> 00:56:42.119
<v Speaker 2>Oh, pleasure is mine.

971
00:56:42.280 --> 00:56:43.599
<v Speaker 1>Thanks again, Thank you, Fred