How to Take it Personal and Win in Business with David Grutman

0:00You should always build a company that a public company could always buy. It's not mom and pop time anymore. A business that's not run properly or set up properly for an exit is probably not running well anyway. That's how you gain real wealth. Try to find deals where you have equity and not just a fee. I've had many moments in my life where I could have gone left or right and I decided to just say let's just keep going forward. We try to create ecosystems where they all feed each other. By having that in one property it lets us hyper focus on the guests. They don't see me as just a restaurateur or just a nightclub owner.

0:35They see me as an entrepreneur that's going to help them with their lives. I'm very protective over people and I send them my deal flow. You're adding value to people's lives. That's a coupon that's going to come back. The one thing they don't really talk about with you in college, how important it is and what it means to own an IP. I also won't do a deal with somebody if I don't own the IP as part of it.

0:57Mick:You're listening to Mick Unplugged, hosted by the one and only Mick Hunt. This is where purpose meets power and stories spark transformation. Mick takes you beyond the motivation and into meaning, helping you discover your because and becoming unstoppable. I'm Rudy Rush, and trust me, you're in the right place. Let's get unplugged. Ladies and gentlemen, today's guest is an expert of experts. He has a new book out, Take It Personal, that not only is a blueprint for mentality, it's a blueprint for strategy, It's a blueprint of life when you read it from beginning to end. He's going to talk to us about this book, the reason behind the book.

1:42Mick:He's the founder of Groot Hospitality. He is a trailblazer. He's visionary. He's an influential entrepreneur. Ladies and gentlemen, I welcome Mr. David Grumman. David, how are you doing today, brother?

1:58I'm doing great. Thanks for having me, by the way. Thank you, Mick.

2:01Mick:No, thank you, brother. Before we get into the book, because I'm going to tell you the reason I initially connected with the book. But before we get there, I love opening the show asking my guests about what I call their because. That thing that's deeper than your why. Like if I were to ask you about your why, you might say your kids. And then when I say, but why are they your why? That sentence usually starts off with, well, because dot, dot, dot. And I care about that. So if I were to say, David, man, like all of the amazing things that you're doing, all the things that you've done for people, what's your because?

2:41Mick:Why do you keep doing the things that you do? You know, as soon as I accomplish something, I want to try to take something else on. Again, I have very high ADD. So for me, it's, you know, what's next? What can I do differently than my predecessors or, you know, my my competitors? And I think for this one, in particular, the book, I'm really on this mission to try to build legacy as I'm getting older now. And I think if I didn't do the book now and I did it after I retired, it wouldn't just be it wouldn't be relevant to people as much as as I'm in it today. Yeah, I love it, man. And you're so right.

3:22Mick:And and I see your because and everything that you do. Right. you know with Groot Hospitality expanding from Miami into Vegas and just kind of taking over and like the things that you do there with your business man like talk to us about you know a little bit about what your hospitality company does and like that big expansion that you had to take over the world so we we were able to do poppy steak komodo live and live beach all under one roof which is the fountain blue las vegas and we try to build an ecosystem for ourselves here in miami so in to be able to do it in in one property in las vegas where you know we capture you for dinner you'll have a drink afterwards at another one of our restaurants and then go right up to live or you can start your day at live beach take a nap then go eat a poppy steak go to komodo and then go to live afterwards we try to create ecosystems where they all feed each other And I think by having that in one property, it lets us hyper focus on the guest.

4:26Yeah, it does.

4:28Mick:And I will tell you, there's no property like yours. You know, I was just talking to some of my friends and they were talking about it and all the things that you do. You know, talking to a Chris Voss or Robert Irvine or Damon John and like your name comes up and it's the experience. Right. And I think that's what, you know, more than anyone, because I'll just say it. This will be a Mick Hunt unplugged truth right here. I think there are a lot of property owners. There are a lot of folks that don't look at the actual experience of the individual. They say they do, but they don't really put themselves in those shoes.

5:07Mick:And I think you nailed that because every aspect of all the things that you do, it's like you're looking at it from the true experience standpoint. And I think that's what makes you one of the most successful people in the world, bro. I think that comes with by being in our venue, you know, by having dinner with friends in my venues. Right. So I catch a lot of things. I'm just like, this music's too loud to even enjoy this experience. Or I'm just hearing everyone's conversation. It's just not enough. It just depends on like how the food comes, what's the sequence of service? How's the team interacting with each other?

5:40Is the lighting going down at the right moment? When is it going up to it? The whole thing, right? So you want to know all these touching points. And I think about the details more than anything. So it's all about the details.

5:51Mick:Yes, sir. Yes, sir. Now we're going to go to the book and I'm going to give you another unplugged truth. And I'm going to ask you for one. So when I first saw the book, I was grabbed by the title, take it personal. And here's why I'm a UNC Tar Heel, right? Which means I love Michael Jordan, which means we all watched the last dance and we saw all the memes of Jordan saying, and I took that personally. Well, when you are wired the way that I'm going to say I'm wired, that Michael Jordan's wired, the way that David's wired, you do take things personally. And that's kind of like the chip on our shoulder to, to provide the best experience, to be the best business leaders that we can be, to be the best people in life that we could be.

6:34Mick:So now I want to get it from you. Talk to me about when you decided that this was going to be the title of the book and why you chose that title. Well, it's really something that I focus in with my team so much. Like if I see a guest that I know that we take care of all the time doing their birthday party at another venue and not ours, and I'm like, or somebody I'm like, even like a team member, by the way, let alone, I've seen team members do a birthday somewhere else. And I'm like, are you are you crazy right now like are you insane right uh actually gotta get the guy and in like listen i i think it it's to my core i look at the window at the restaurant next to poppy steak and see if my friends are in there yeah it's not my rest you know i talk about that in the book and i'm on it i'll go like this in the window to the person i'm like if you could be next door, then you could be in my spot.

7:31And I think as, as your relationships build with people, they know how, how much you take it personal. I want them to have that second thought before they go somewhere else, at least be troubled with it, at least not enjoy their meal completely because they know I'm, I'm upset.

7:47Mick:Right. Right. You know, one of my favorite chapters in the book is chapter two and it's building an ecosystem. And, you know, I had this conversation with all of my people about, you know, your circle and that ecosystem that you call it. And we had a team meeting on Monday where we dissected chapter two and I could talk about it all day long, but we have the author here. So I'd love for you to talk to us about the importance of building an ecosystem and the foundational structure of building that ecosystem. So, I mean, it's, it's, it's a great thing. I think it stems from relationships. I think it stems for how do you curate that?

8:30How do you curate that experience for people when they come to your city, when they come to your home and they come to whatever? Yeah. What is, let me ask you a question. What did your team get out of it?

8:40Mick:what they got was everyone that we interact with, we control an experience because they're going to have one either way it goes. So are you going to be the one that controls it? Or are you going to let someone else decide the experience that they're going to have? And so for us in our ecosystem and understanding, it was, what do we all do that's uniquely the thing that no one else can do? Like, what is it that we do individually, right? That no one else can do. And then when we put that together as a team, what makes us the most un-effable team that exists in what we do? And that's what everyone got.

9:26Mick:So what everyone started understanding was to create this ecosystem. It starts with you when understanding that unique talent or gift that you have that no one else can do because at the end of the day everyone's going to have an experience it's just more of did you control that experience or did you leave it up for someone else to have without your influence i mean for us we also think it kind of takes the thought process out of the guest to have to be concerned about it as well right because you know if we're if we're programming your night for you and we say this is what we think the best night of your life to be and you have trust with us that that earns trust too and it comes over time right so yeah and that's why it's good and also even if it's not one of my places but it's something that i think they should go see or do or something like that you also want to plant this because if you're just if it's just all your like i might send them to an experience at super blue which is this museum that has instillate not mine but you want them to go experience other things you don't want it to just be a sales job of just your spots too.

10:32You want to say, Hey, listen, I really want to curate the best day and night for you ever.

10:36Mick:I love that brother. I love that. And I know you don't say this. Um, and I'm going to step away from the book for a moment, just because you're someone who I've followed forever. And it kind of does coincide with the book a little bit, but I like hot takes, right? I'm just going to say this. There's not a lot of people that can do what you do, right? When I think of DG and I talk about, again, Damon John talks about you. Chris Voss talks about you. Robert Irvine talks about you. We go to the book. You've got Tom Brady, Serena Williams. Oh, by the way, Kim Kardashian does the Ford in intro. What makes DG uniquely different from people in your category?

11:23I think because they don't see me as just a restaurateur or just a nightclub owner. They see me as an entrepreneur that's going to help them with their lives. I think they all know over time I'm very protective over people. That's one. And I send them my deal flow. I go, hey, I look at this new brand. I think I negotiated a great deal. Why don't you come in with me on the same thing that I've negotiated? I'm pretty good at it now. And I think it comes over time. I also think I try to add value for those. Anybody that you talk to, they'll say, I just try to add value. And I talk about a lot in the book is just being a great connector and don't being a gatekeeper.

12:03I hate these gatekeeper people. Same, man. Right. So, oh, someone's like, oh, do you know that person? And if they think there's any kind of monetary situation that they that you're going to benefit from their connection they want a piece of it yeah that's just such the wrong way to look at things and it pays off 10 times more than whatever that little thing is that you're trying to make that 10 percent of uh and i talk about oh when they're like make sure you cc me on all conversations with them i'm like who wants i don't even i i barely have time to read all my emails you want i'm going to tell you to go cc me on a conversation with somebody because there might be some monetary exchange between two people creating a who wants to live like that dude i love that and when i read the book another gatekeeper type that came to mind is the friend that doesn't want you to become closer

13:00Mick:to that celebrity or influencer than they are right it's like i'm tight with dg but i don't want you to be tight though and it's like bro like chill out man like what is this about but that person i think is worse than the financial game gatekeeper by the way it's not wrong like i i listen i'm friends with some some very let's say wealthy people that have a lot of amazing toys yeah yachts this that the other i've definitely introduced some big celebrities to some great billionaires, let's say, and they've gone and gone on their boat separately than me. And I'm like, people are like, wow, so-and-so's on that yacht and you're not there.

13:46I go, great. Right. I mean, like, okay. Like, I'm not the celebrity handler. Like, I'm so happy they're our friends. If they meet, and by the way, the person that they're on the boat with is an amazing person. They should be hanging out with them. It's great. Right. Right.

14:05Mick:Yeah. To me, that is the worst person that exists. Weird how people's perspective is so focused on that. Right. And like, Oh, you're, you're, you're not part of that. I'm like, I'm part of it just fine. Like it's okay. Yeah. I might miss a boat trip. I might miss a vacation. It's okay. Yeah. And Oh, by the way, like, okay, there might be a dinner and I'm not okay. yeah so some people want to have their own relationships and that's even more powerful no absolutely and i would say i i respect you in this way because you and i are a lot of like like i don't need to take a picture with someone to show that i'm cool or tight like i actually never do like you've never seen me take a selfie with like my my true inner circle of like high net worth friends i love i love i love i'm joking i love content don't fool yourself my man no you love content but you're doing it in a different way though like you're you're not proving you don't do content to say oh look i'm hanging out with warren buffett no everyone knows everything everyone talks like here's the things i let them do the engagement there's many times with some of the biggest and there's no okay okay yeah like everyone's so thirsty to get that one picture that one thing like there's gonna be another time my man like it's okay like no i would rather you're not asking and like i have i have friends of mine that you know they're Dave you went to dinner with so-and-so in the nobody knows okay but you know what there'll be 50 other times that i'm gonna have dinner with this person and you know okay maybe one time who cares yeah yeah no and then by the way you sit so much more powerful with that celebrity or that person by not doing that than than doing it like it puts you it elevates you on a different level than just what you know hey do you mind uh no no but then when it comes time that you need some help hey kim can you do a forward for me after 20 something years do you mind no no problem that's it man like and i would say i would rather pick david's mind pick his brain ask him a really good question than to take a selfie to prove that i was hanging out with him right like for me that's that's like now do i have pictures with celebrities and influencers yes but usually someone else took them but you don't see me grabbing my phone say hanging out with david today like i don't need that.

16:37Mick:I'd rather take those two seconds and ask you a question. And listen, everyone's different. Some people want to do content with you. They're like, Dave, please, let's do something fun. Let's do something great. Let's show. Great. Happy to. By the way, awesome. And some people just don't. And it's okay. Yep. Yep. So I want to go to a different part now. I call it the room. and I'm actually in a conversation right now on this podcast looking him in the eye of the guy that creates the best experiences ever that creates the rooms because to me and in the book David you talk about relationships all through it and how important they are how to build them how to maintain them how to invest in them and the best relationships I've ever had the best advice I've ever gotten was because I was in a room, right?

17:31Mick:I was in a moment, I was in a place, we were having a conversation, that experience, the ambiance was right. And I can remember those moments like they were yesterday. I'd love for you to talk about, was there a room for you? Was there a moment for you when you realized relationships matter the most? Or was there a specific conversation that you can remember because you were in the right room at the right time. I think I've had the right mentors around me as well that talk about that so much. And I think because I was an only, I really take relationships so, I'm so delicate with it. And I knew by seeing people that ruined relationships or played the short game and didn't go and just like wanted to capitalize on the press for that one second or they they put people in bad situations or and i'm just looking at people like why would you do that why do you like it's to me i've had many moments in my life where i could have gone left or right and i decided to just say let's just keep going forward and there you go and it's it's something that uh a lot of people only see tomorrow they only see today they don't see tomorrow and it bothers me because like just Just to give you a thing, I'm talking to a DJ about re-upping his contract at Live.

18:55And, you know, in Vegas, they sign you to two, three-year deals. And another casino is offering more money than I am because it's just a bigger casino. It's a bigger this. It's a bigger this. And the manager is saying to me, hey, I know everything you've done with this DJ, with this relationship. You've done stuff that we could never imagine. but this is generational wealth for the, for this DJ. If he takes this deal, Dave. And I'm like, are you, are you fucking insane to say to me generational wealth? Like that's what you think of your client, that this much money, which is, it's a good amount of money, but it's not generational wealth.

19:34Like what you think generational, what you think generational wealth is and what I think generational wealth is might be two different things.

19:42Mick:Right. I think this, I think, If your guy is with me, he's going to have real generational wealth and not what the short little game is. And stop talking about your guy like that. Like just say this might be a bigger amount and it means this amount is enough money for us to think about doing something else. But don't bring up the terminology generational wealth because I think it downplays your guy. And it makes me think you don't really know your guy well enough or don't have enough or don't think he has the ability that I think he has. yeah and that bothered me a lot and when i talked to the dj i said your team just told me about generational wealth and i'm like i'm sorry my man i think i think if i hear that term again discussing you i'm gonna lose my mind and he was like same thing david they keep saying this to me and i'm like i'm just getting stuck like we're just getting started like there's not a listen i understand that entertainment stuff like that might be considered like a quarterback or a sports athlete where you only have a certain amount of time i get it because at the end of the day youth really you know controls what's hot next and blah blah blah yeah i love it dude it's just like to me it's like stop using i i hate when people position themselves like that yeah that's yeah and and that kind of goes into something in one of the chapters and i have a highlight it here, chapter eight, which is something that, again, my team and I also discuss, which is your name is everything.

21:13Mick:And you break down the importance of intellectual property and how to do that. And I actually just yesterday had a conversation with my IP attorney on just some things because most people don't understand, one, yes, your name, but there's a lot of things that you do. There's a lot of frameworks that you have that you should protect and that you need to think about building it. So I'd love for you to talk about the importance of building, creating IP and breaking down chapter. What we're talking about is intellectual property. And just to clear, so your audience knows when we say name, we don't mean just David Grutman.

21:47We were talking about, let's say, live, get go, come on, all names, right? Right. Or it could be David Grutman too, right? That being said, it's the one thing they don't really talk about with you in college, how important it is and what it means to own an IP. And as I built a restaurant for the first time, as I thought a single unit, which I've been able to grow to three and hopefully more venues, that the IP is what the most important thing is. I also won't do a deal with somebody if I don't own the IP as part of it. Because, you know, I talk about in there, Louis Vuitton, you know, they wanted me to do an LV lovers bar, but I don't have any equity in LV.

22:33Would they give me equity in an LV lovers bar? No. And they're like, you're crazy. It's going to make your life so cool. I'm like, I'm as cool as I'm going to be. Let me own my brand. And if I'm going to be cool, if I'm going to be the one that's going to make it cool, then I need a share in that IP. And you have to be very careful who you let into your IP. Certain times it should just be your IP. in certain times, if you have a partner that's going to bring as much value as you are helping build it from the ground up, then should they share in the IP or not? And I think some people don't care about IP.

23:08Developers, I think, that are building high rises. If they can put a brand on their building and they can charge a little bit more per square foot, they don't care what that IP is. But I think they're helping you build your IP, which is how you look at deals and saying, how do I keep building that IP through other people's marketing assets?

23:27Mick:Amen. Which leads to the natural follow-up of that, which is the exit, right? And having an exit strategy. I learned from Damon John personally, Mick, don't build a business without thinking about it and building it as if you were going to sell it or exit from it. Even if you never plan to, that needs to be the mindset of building it because it's going to help you actually make better decisions. And then I go read, take it personal. And what is David Grutman saying? Pretty much the same damn thing, right? Like you've got to prepare, even if you're not going to exit, you've got to build as if you are, because it does help you make better decisions.

24:08Mick:And then you actually give some really cool advice just on exit strategies in general. So talk to us a little bit about that, brother. You should always build a company that that's That's why IP is very important, that you're not going to have a mess if you do exit, trying to tie up all these people that are part of your IP. You want to try to get it clean. I think as you do these deals with partners, that they know that they have a drag along with you or a tag along where they could come along for the ride as well. But I also think, listen, you should build a business that feels like a public company could always buy.

24:41Or when you go to sell it, if you're not buttoned up, which that's how business should be, buttoned enough to be in a public company, that it's not mom and pop time anymore. Like these are your businesses, right? You have to build it that if somebody is going to exit. Now, let's say you said you're never going to exit that business. And maybe you don't, but maybe you pass it on to the next generation. And shouldn't that next generation have the ability to be able to just step in there and run your business? I don't think a business that's not run properly or set up properly for an exit or that is probably not running well anyway.

25:14I think it's all like, listen, you need to, you need everything firing. And I think what, that's what's desirable to people that even want to look at your business is, is it set up pop? Is it a mom and pop shop? And if, if it's a mom and pop shop, is it at least set up accordingly? But the X it's not about for me, the money on that one particular venue. It's about the eight times, 10 times, 12 time, multiple on those businesses as you build.

25:41Mick:Absolutely. That's how you gain real wealth. That's why I always tell people, try to find deals where you have equity and not just a fee. That's it. That's it. Dave, man, I know how busy you are, and I'm honored that you would spend a few minutes. I'm kidding. That's an important thing. Thank you for having me. No, man. You mean the world to me. So I got to get you out of here with my unplugged five, so my rapid fire five. But before I do that, I'm going to say this again. This is the book. Zoom in. Take it personally. Yes. Go get this book. I don't care who you are. I don't care what you do. I was selling Dave offline.