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b'In this episode, Jay interviews Tom Phillips, the founder of Phillips Publishing International, about how to build a business through recruiting, motivating, training, and retaining your key business builders. Tom shares why it\\u2019s critical to work on the business while your colleagues work in it, and why reinvesting in your business is critical.

Tom talks about how to grow your business the right way by leveraging bank financing. He also shares how to turn adversities into advantages and ripple out steps at a time for sustained business growth.

You\\u2019ll learn the best tips for acquiring new businesses, why it\\u2019s important to compare your business with others, and some key principles Tom and his team developed over decades of experience. Tune in to hear Tom share his wisdom about leadership, capital, and feedback \\u2014 and learn how he thinks differently when it comes to delivering value.

00:00 \\u2013 09:30 \\u2013 What Tom will be talking about, his origin story, how the business grew over time, his thoughts on entrepreneurship, and why reinvesting in the business is critical.
09:30 \\u2013 19:30 \\u2013 Working on vs. in the business, when to borrow money, why bankers don\\u2019t understand entrepreneurs, legal battles, and turning adversities into advantages.
19:30 \\u2013 28:00 \\u2013 Key principles they\\u2019ve developed over time, business success, acquisitions, and comparing your business with others.
28:00 \\u2013 36:00 \\u2013 Understanding your cumulative value, goal-setting, keeping benchmarks, the secret to success, and the three things to do with key players in your business in order to grow.
36:00 \\u2013 49:00 \\u2013 Leadership, feedback, delivering value, the truth about capital, and what it searches for in order to work.
49:00 \\u2013 58:00 \\u2013 Inspiration, desk-swapping, building rapport, putting the ego aside, mistakes he has made, and tips to retain the best people.'