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Jimbo Paris Show #103 – Award-winning Marketer Driven by Integrity. (Terry Rich)
9 Plays3 years ago
“Don't be afraid to volunteer for anything. No matter what you're doing, how you're doing it. And the other is, let's help each other and let's, let's keep our world a friendly and fun place.”
– Terry Rich
Welcome to The Jimbo Paris Show #103 – Award-winning Marketer Driven by Integrity. (Terry Rich)
Terry Rich is a successful CEO and President of 25 years who loves to engage and entertain audiences across the globe. Oh, and he led the team that busted the largest lottery fraud in U.S. history, was a guest on Johnny Carson’s “Tonight Show”, ran a zoo and gave away $1 Billion.
During his appointment by three Governors, his leadership increased lottery sales and profits by 50%. He also led the Blank Park Zoo to profitability from a $600,000 deficit while positioning it as the second largest attended attraction in the state. But his national insight on business, banking, gaming, TV production, marketing and PR led him to success in his professional career and to his passion for public speaking.
Before that, he started four successful entrepreneurial businesses, and has numerous national media appearances including ABC, NBC, HBO, CBS, 20/20, CNN, CNBC, USA Today and The New York Times; and was a movie host on Starz!
He’s a disruptive innovator and entrepreneur with a drive for integrity and honesty. He’s worked in the trenches, survived new business trends and had success with generational changes. Terry’s keynotes are energetic, motivating and perfect for an early morning, lunch or after dinner presentation.
Terry Rich has two books: The $80 Billion Gamble and Dare to Dream, Dare to Act, available on Amazon, Kindle and Audible.
Website: https://terryspeaks.com/about-terry/
Linkedin: https://www.linkedin.com/in/terich/
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Transcript
Introduction to Terry Rich
00:00:05
Speaker
I am Jumbo Paris and you are listening to the Jumbo Paris Show.
00:00:16
Speaker
All right. How's it going everyone? I'm Jimbo Paris. Welcome to the Jimbo Paris show. And today we have Terry Rich. Mr. Rich is probably one of the most interesting people I've seen. He helps solve the largest US lottery fraud. He's a fraud expert, a speaker author, and he has transformed many people's lives through his expertise. And so I'm interested to know, let's see what he has to say. How are you doing Jimbo?
00:00:47
Speaker
Great. People are crazy in that introduction though, man. Like having fun. I love being part of shows. I always learn a couple of things myself in this, but I think by the time we're done, people realize I bounce all over the place. I love giving new ideas, thinking new ideas, and finding ways to help people from all the years I've learned and also learn a little bit from folks like you.
Terry's Early Career and Transition
00:01:09
Speaker
The show's about you, so let's start.
00:01:11
Speaker
What is it that you specifically do? Well, at this point, I'm a professional speaker, author, and I've even got a couple of TV shows that are about to come out. So I love doing a lot of different things. It started, I grew up on a farm, if you can believe that, a small town in Iowa. When I grew up, I got lucky because I didn't realize this at the time, but we had no money, but we had happiness beyond belief. Great family environment, my parents who were very encouraging and
00:01:37
Speaker
encouraged me to try things that I might fail on, but always trying those new ideas. And when I went through college and realized I could talk and make a living, I got into television and radio and started in cable television. And I was lucky because all my buddies went to broadcast TV. I learned quickly.
00:01:54
Speaker
that this entrepreneurial company called Heritage Communications was just the right fit. Where everything we touched was brand new. We helped start CNN and MTV and all these different cable channels. And it really was so much fun and you were really rewarded to try something new even if it failed because down the road it seemed to succeed in cable television at the time. And whoever thought when I was door knocking, people would say, I don't need more than four channels. I'm not gonna pay six bucks for additional television.
00:02:24
Speaker
the amount of money we'd be paying today well that turned out to be a fun deal and ultimately at age 40 i learned something my dad always said you know work to your 62 for some somebody and you know get your retirement you're going to be happy and i realize happiness really happens on the way to success and
00:02:39
Speaker
at age 40 a group came in to try to buy the company and so we cashed out and all of a sudden i had all the money that i thought i would have when i retired i'd seen a lot of the of the country in the world at that point with this company and all the excitement of hollywood that went along with it so i started my own company and so i had my own company doing television production free previews of hbo is how we started it so you could see hbo and then at the end would say hey if you enjoyed that movie now's the time to call that sort of thing
00:03:07
Speaker
And that went really well for 10 years, but I just decided to get off the road at age 50. And I got a call, said, would you be interested in running a zoo? Well, grew up on a farm, had cows. Why couldn't I run a zoo? So we got to turn around a zoo. It was really fun. Be a zoo director for four or five years and build it into the second largest cultural attraction, put it in the black and raise about $15 million in endowment. So it'd be around forever. And I
00:03:30
Speaker
But at that point, the current governor at the time called and said, hey, the lottery director's ending, so would you be interested in running the lottery? Well, never done that either. And over those 10 years, I got to give away a billion dollars in monies to people and prizes and solve the largest lottery fraud in US history. So that all came together. And I ultimately said, I got to retire.
Lottery Director and Fraud Case
00:03:50
Speaker
started being on the road talking about the fraud case that happened that we just discussed that was solved with two hot dogs and Bigfoot and or Talking about innovation new ideas going through the entrepreneurial stage of my life So that's my history and I'm still having fun. I've got kids and grandkids around so it's pretty good times Okay, so what I could get from there is that you've done close to about four big television production zoo
00:04:17
Speaker
lottery and you're a speaker and an author. So, and my own companies. I was going to ask how long you've been in the industry, but I would have to be like, how long have you been in all four of these industries? You know, well, I just turned 70. So I actually started working on a farm when I first, you know, heck we were.
00:04:34
Speaker
you know, feeding hogs and combining beans and doing all that all the way up. And I also learned in all of this, someone asked me, if you were 21 again, what would you tell people to do to learn to be successful? And I said two things. One, I tell them, no matter who you work for or with, raise your hand and volunteer for everything. You know, if somebody, if I went in and the boss said, hey, we need to clean the bathroom and everybody look around, you know, I can't believe that person's gone. Well, I can't,
00:04:58
Speaker
I'll do it. What the heck? Because you get noticed. The second thing I'd do differently is try to figure out how to relax a little more. If you're in your own business or you have success with a project, it's really tough to slow down. And I'm still trying to figure that out of how to live life a little bit easier. But I've always had two jobs going no matter what I did. Right now it's retirement and the speaking gig. And then I've got a couple of TV shows I'm working on. There's always something going on, but that's what makes life fun, I think, Jimbo. You have a couple of TV shows going on. So what are those going to be about?
00:05:27
Speaker
well the first one it was a documentary on this whole eddie tipton lottery fraud that made national news and and cnbc's american greed did an episode on it already and there was an hour show on it but the actual background eddie and and the guy that prosecuted rob sand a great prosecutor and i
00:05:45
Speaker
All had been had contact from various producers looking to do some sort of a movie or something with that. So the other one was a crazy show idea out of the blue called Soccer Slam. We produced a show when I had my own TV production company because I wanted to have something that was an asset that might pay year after year rather than work for hire, which is what I was doing. So it created a show figuring that WWE was the number one show on cable television. I thought, well, what other sport?
00:06:11
Speaker
at the time in the 1990s, uh, they're not paying the professional players very much. And we might be able to do the same, put a storyline together. And I thought soccer, this is for soccer is really popular in the U S. So we did four shows for Fox sports world. And then Gala vision called soccer slam full contact indoor soccer. So that we hired stunt guys to do fights and they were knocking each other around. We threw two balls in at once.
00:06:34
Speaker
We had a brown card in case somebody broke wind, you got a brown card. We just had some absolute crazy stuff going on the whole time. Well, it kind of disappeared. And a year ago, the athletic.com, a big sports website found that show and they wrote a whole 25 page article about the whole making of soccer slam. And then a television producer called and said, Hey, we'd like to do a documentary on that. Well,
00:06:58
Speaker
They got the documentary done and it's going to premiere here. I don't think I can publicly say, but it's going to premiere in November on the Hearst streaming services across the United States on the making of Soccer Slam. So that should be kind of fun to do and see to something completely different. All that other stuff we talked about. So this is all very, very good information.
00:07:16
Speaker
And I think for the majority of this interview, we should focus in on kind of the aspect of what you focus on primarily now. So what drove you to take all this success and become the speaker and author that you are now?
00:07:31
Speaker
say you know when i do these kind of things and i i'm a promoter so it sounds like all this guy he's ever had with success is that failure is the first step to success and even as i do things today i've got all sorts of ideas that i've tried but failed it's better to have tried and failed than to succeed at doing nothing and i love having two or three things going all at once and so you know how do you move upon things today that might be beneficial to others to help others and the zoo is a good example about giving back to the community
00:08:00
Speaker
The lottery was a lot of fun financially and just promotion wise, but the speaking business is absolutely the greatest retirement gig in the world because you get called up.
Insights on Fraud and Fairness
00:08:10
Speaker
They pay you to fly somewhere in the world, somewhere in the United States. They pay you. They put you up. They pay your transportation. And then I always spend two or three extra days and get to see the sites.
00:08:20
Speaker
and it's all paid for. And so it gives me a whole new option to learn, to grow, to keep my eyes open on all the different cultures, all the different diversity that's happening around the world and the new things of what the world might be in the future as I hopefully can pass that along to others and also to my family and kids. And you mentioned the lottery a few points. So how long have you been
00:08:42
Speaker
in the lottery industry. When you play the lottery, it's run by your state. And they have a whole staff that usually they stick around for their entire career because it's really a fun job. You make people happy. You know, it's big money. It's all the good things. The director, which I was one in states, are appointed by the governor. And in our state, you had to be confirmed by the Senate. And it's like a political appointment you're in for four years. You know, the background that they were looking for at the time that I got on and then was reappointed two more times by different governors.
00:09:10
Speaker
They were looking for promotions and marketing and just increasing the bottom line. And as a lottery director, you think your job is to sell more tickets. I really didn't want to look at it that way. I thought our job was to keep the game fair and honest. If you're over-promoting and over-promising, you're hurting people, right? But people like to gamble. So lotteries really have only been around for the last 40, 50 years and full fledged again. Some states don't allow you to use a credit card or
00:09:36
Speaker
You have to be 21 to do that. It isn't full fledged of let's just take your money at all costs. And you hurt a lot of people now. People overplay, no doubt about that. But you try to put in checks and balances as the director to kind of oversee to those who want to play. So you mentioned here keeping lotteries fair and honest. If you're trying to keep them fair and honest, you're going to be combating against something called fraud. So what is sort of the definition of fraud or what sort of is your personal experience with it?
00:10:05
Speaker
As a CEO, I always thought if the auditor came in and audited the lottery, we were free and clear. But I realized after doing some research, about 2% to 4% are found by auditors, outside auditors. Most fraud in an organization is found by the employees or vendors who are too close to employees in the organization. But in this job, about a year into it,
00:10:26
Speaker
I had someone call and say, hey, we got a problem. I said, what's the problem? Well, we have this jackpot called Hot Lotto, which is played by about 21 states, pooling their money together to try to get bigger jackpots. And we had somebody win. Okay. And that person hadn't come in for almost 11 months. Well, that's weird in itself. If you have a $16.5 million annuitized jackpot, even Bill Gates, I think, would want to come in and claim it.
00:10:49
Speaker
So we knew something might be screwed, but then we got a call from a lawyer in Canada who said, Hey, I'm just going to send you the ticket. You send me the money. Ding, ding, ding. Something didn't feel right. So they said, Hey, we don't think we should pay it. And I thought through it and yeah, you know, that's right. Because if you pay it, you may never see the money. If they sue us, which is likely, then we'll have to go to court, but then a judge decides and we can research a little bit. But if you pay it, you know that they'll take off if it's illegal and
00:11:15
Speaker
You'll never see him again. So we decided not to pay it. And all of a sudden through the next month and a half before the claim was to expire, we had someone from New York try to come in and claim it. And we found out that they were claiming it as a corporation in Belize where a lot of illegal activity happens. And they were claiming it on behalf of a guy named Philip Johnston, who was the guy in Canada that made the original call. So something just didn't feel right, but we couldn't tie it all together.
00:11:42
Speaker
And it took about two or three years and our diligent attorney general's office and the department of criminal investigation to go talk to those two gentlemen in Canada and in New York. And they both got that awful question. I hope you and I are never asked. You want to be the defendant?
00:11:57
Speaker
Or do you want to be the witness? They both, by the way, decided to be the witness and they gave up somebody in Houston, Texas. And when it all came down to it, we figured out by showing the video of the purchase of the ticket that people started identifying that. Remember we talked about employees or anonymous tips or where most frauds found.
00:12:18
Speaker
We found that it was an employee of a vendor who does the drawings for all lotteries across America. That employee was a security officer and he was best friends with a guy in Houston. His name was Eddie Tipton. Lo and behold, when it was all said and done, he got up to 25 years for creating this fraud by rigging the computer that was drawing those numbers.
00:12:38
Speaker
Powerball and Megamillion is drawn by balls, but this was drawn by a computer. And when it's programmed by the same guy, we knew something was screwing. Ultimately, we got them to confess and sent to
Entrepreneurial Advice and Creativity
00:12:48
Speaker
prison. Now, when we talk about this programmer and did the security guy get in trouble too, or was he?
00:12:53
Speaker
The programmer was actually the security guy too. One of the things I learned in all this, and this is probably the best lesson if people have their own little or big business, is the American Society of Fraud Examiners said there are three things that will create fraud in any organization, whether it's a church or a school or a great big company. One is financial need.
00:13:16
Speaker
If you hire a really good employee and they're great for three or four years, they go through a divorce, they lose half their money, they maybe have a gambling problem, a drug problem, credit card problem. That creates a need of, I got to get some money and I got to get it now. But the second thing they have to be able to do is have the opportunity to steal it. And that usually is in a small organization where you have somebody who writes the check and writes the purchase order. They have all the keys to the kingdom, so to speak.
00:13:40
Speaker
And that's what happened here. This guy wrote the program. He compiled the program. He oversaw the computer. Nobody really oversaw him. So you got to have checks and balances within an organization. The third piece in all of that, that if you get it done, you're pretty ripe for fraud is on the shoulder, the little.
00:13:56
Speaker
Devil says, you know what, Joe over there or Sue over there is making more money than you are. You deserve this. They rationalization of why I should do that. Now, if I rationalize this good, I have the opportunity to steal it and I have the financial need. Yeah, you're pretty ripe for fraud. That's what we found.
00:14:12
Speaker
happened in this case. And that's why oversight is so important, which has changed since then. People ask, well, that was done with a computer. Are balls safe with all these other organizations? And lotteries do billions and billions of draws every year across the world. And I know of only maybe four or five out of the last 40 years there was a major fraud done by an internal person. There's so many checks and balances with these lottery tickets.
00:14:37
Speaker
and a lot of things have changed since the fraud I'm talking about happened and I feel pretty comfortable playing the lottery today. You also ran a lot of startups too. You're a successful entrepreneur in many people's eyes. How do you think people here, young people, can also succeed in startups?
00:14:54
Speaker
I started out as an employee and I think to me if you have an idea and you think it can be successful you want to just keep working on it but you always need seems like you always need some sort of cash to get going so my recommendation is go to work for an industry you think you might want to start a business in go to work for that industry learn everything you can continue to pile that money but at the same time start your business
00:15:18
Speaker
do your business on nights and weekends, something that is unique, different, that can reach a market that you think is important. And then as you start making money on that business, wait until you've got enough money that you can live on to change on it. That way, if you've got kids and family, you're not just bankrupting and throwing away all of your money. Then once you have the success and you start your own company, you take calculated risks. And as you make money, if you don't continue to innovate,
00:15:43
Speaker
you're going to lose and i think successful people that i've dealt with have always figured out how to put money aside and keep money so they don't always have to bet the bank and i tell them you know what failure is truly the first step to success but you gotta have enough cash to try the second idea the second step if you think about a little kid when they first get started they are learning how to walk they pull themselves up on a couch or a chair and they take the first step and inevitably what happens
00:16:08
Speaker
Boom, they fall on their face, but they're dumb enough because they haven't failed before to call up and take two, maybe three, four or five steps. And then all of a sudden they're running all over the place. So you want to encourage people to try something. It's better to have tried and failed than succeed at doing nothing and have the resources to try the second and third time and not just give up. And too many people after the first failure, just give up. You don't want to do that. I mean, we have all failed. I have so many successful friends and whenever I talk to them,
00:16:38
Speaker
They all have failures personally and professionally in their life, but they learned how to learn from those and be able to take the next step. So I think that's step number one. Step number two is always have a bundle of ideas so that you can have one or two going at the same time. So that if you're the person who creates a CD or a cassette and two years from now, those are gone. Nobody ever uses them anymore. You've got two or three projects going so that
00:17:05
Speaker
That curve I mentioned where it flattens off people die people move technology changes. You've got to have two or three products So you're continue the growth as you do that. So those are a couple of lessons I learned and I believe strongly in as uh as I do my speeches you mentioned having a bundle of ideas you also kind of call yourself the idea dude, which I find quite interesting as well and
00:17:28
Speaker
You mentioned it, trying to feel young and hip. I'm not really. I'm an old white guy with bald and I'm just trying to think of ways to do this. But here's the theory, what I kind of learned in managing people that and I learned this when I went to a wine country one time, because I thought that people who grew wine just went out back, picked their grapes and had the award winning bottle of wine.
00:17:47
Speaker
No, the people who make wine go across the valley because every year the grapes are grown different and they take a bushel basket and they try all these different grapes and the same thing happens when you separate in a brainstorming session or getting your ideas. I always say you take 15 minutes and just write down and talk to your other friends and everybody else and no judgment. Every idea is a good idea. You write down every idea. You try to get 100 ideas in 15 to 20 minutes on what you want to work on.
00:18:13
Speaker
And you set it aside. You don't think about it. You don't evaluate it. Cause too many people let the no man, if you're meeting with your friends or your boss and you say, Hey, how about we paint the wall yellow just for something different. And then you look around and people are going,
00:18:26
Speaker
somebody will go, no, man, we've tried that. That's not going to work. And all of a sudden you get discouraged. You know, you write every idea down because the accountants and the lawyers, you know, are going to say, Nope, you're going to get sued or that's going to cost too much. No, you want their ideas to you on everybody's ideas. You put that in that bushel basket.
00:18:43
Speaker
Put it off the side and then you come back and that's where the decisions are made. Then you dare to act. So many people come up with an idea but are afraid to act on it. So daring to act means that you get your best group around and you let the accountant say the cost. You let the lawyers talk about legal operations say we don't have enough people. Whatever they are up and down but you prioritize those hundred ideas.
00:19:04
Speaker
And the ones that at the top, everybody around the table go, yeah, that's the, we prioritize that. Those are the ones we all like. You're a lot more successful and everybody's on the team doing it than you would be that. I love trying new things because that's where the success is. In fact, I think that it's more fun. It's kind of my cocaine. Having success, you just can't beat that feeling. When you have it, you want it more of it. You want to try it again. And if you do a risk assessment.
00:19:27
Speaker
so that when you try something new, you assess what's the best one with the risk, so I don't lose my money. Obviously, you take the next step. So we set up parameters and rules, and we came up with something called COT, C-O-T, and here's how it works. If you're sending an email to someone, you write down action required. That means I'm the boss, you better do it.
00:19:46
Speaker
This is job changing if you don't do it. That's maybe one, 2% of the things you send out. The second one is FYI. Yeah, read it. Get to know what it's important, but not that big a deal to do right now. And the last one, which I try to use more and more often, is COT, which means
00:20:01
Speaker
consider or throw away. It really is for individuals to put in that or as I'm talking to someone to say, hey, this is a consider or toss, throw away idea. It gives you a chance to say an idea with no reactions just to start. And the rules are you can't say yes or no, that's a good idea. I just want you to know it. And if you don't have time to read it or think about it, throw it away. That's fine.
00:20:23
Speaker
anything. I just need to get it off my chest. But they started sending me more ideas and they weren't worried about am I going to be fired because this is a stupid idea. Especially all the way down to the receptionist at the front desk who deals with all of the new customers coming up with ideas. And so all of a sudden we had this whole new positive theory of creativity. And that's getting those ideas in the bushel basket
00:20:44
Speaker
very diverse because it isn't. If you're brainstorming with people and they all look the same as you do, you've lost a whole market. There's such a huge market with the internet today. You want to have as much diversity as you can as you're doing all of these ideas and then getting back together, prioritizing, and that's when you act. So that's kind of the two-step process I'd recommend.
00:21:03
Speaker
You know, that consider a throwaway thing is absolutely amazing because when you think about it, I think it addresses an issue where we try to be critics in every single idea that comes about. It's because we don't like change sometimes. And think about that receptionist. That receptionist probably knew that her idea of the day would be that that chair in the front lobby that the customer sit on is stained. It's about to break. It's a huge liability.
00:21:28
Speaker
But when they've done an idea before, they probably wrote it up on a piece of paper and put it in the suggestion box. Afraid to just go directly to the boss. This way, they can just get on the computer and go, c-o-t. They know they're not going to get a response. That helps me as the boss because I don't want to hurt their feelings. I don't want to have them think anything's a dumb idea. So they can send it and not care except to say, I got it off my chest and I got to tell them what I thought.
00:21:51
Speaker
Now you mentioned something else as well that I also found pretty interesting. How does one develop an innovative mindset? I think it's the encouragement. Our supervisors, our friends, it's getting rid of the nomad. Back to you mentioned you hit the nail right on the head of the idea that we are taught even in the political world we're involved in today to be negative right out of the chute rather than say, that's a good idea. Now when little kids start to walk, little kids are trying new things.
00:22:18
Speaker
We laugh and think, that's cute, right? Well, if we do the same thing with our friends and everybody who comes up with an idea and say, yeah, that's a good idea. And how about this? And how about that? It is encouragement. And skill set versus mindset. Which one do you think is more important? Probably mindset. You know, my degree after all the talking and going to school, I have a BS in speech, if you can believe that. So I think that mindset determination, well,
00:22:44
Speaker
Good quote that you bring it up. Henry Ford once said, and he said, look, I can pay a nickel to any kid to go find that out. My job is to create new ideas. I think that's the mindset. I'm not that smart, but I always try to surround myself with successful people. And I try to do what I can. If I've got an idea and I need expertise in something, I hire it.
00:23:03
Speaker
especially entrepreneurs. When you start, people say, well, I can't afford to hire a full-time lawyer or whatever. Put an advisory board together. People love to give advice to people to be successful. And so you get a lawyer and an accountant to give you ideas. And then when you start making money, you cut them in on the profits rather than paying them full time the whole time. Many people do that and many people make a lot of money doing that, but you have
00:23:23
Speaker
have that deal. And by the way, when you have people who are investors or employees, as an entrepreneur, usually you're a poor manager.
Financial Management and Influences
00:23:31
Speaker
You're great on the ideas and seeing the farsightedness, but actually execution day to day on legal, on accounting, on sales and all the other stuff. And that most aren't as have that same expertise. You want to surround yourself with the good idea and the diversity of ideas back to ideas so that you get as broad of an audience buying your product as possible.
00:23:53
Speaker
Yeah, you know, that's a really big point because most entrepreneurs are generally visionaries. And sometimes that can create a disconnect. Well, to fix the disconnect, you mentioned it's better to save money and work with experts part time rather than full time. It's really interesting.
00:24:10
Speaker
It takes a lot of time to manage people. When I came out in my own company, I tried to do jobs for hire on everything we did for TV because you didn't know I'd get two or three projects in a month and then not have a project for two or three months. So I'd be out selling for the next one. Well, if you have a bunch of overhead, you can't last very long. If you job it out and you do work for hire,
00:24:29
Speaker
you last a lot longer. That's usually how the TV and movie business work. Now, you've learned a lot of lessons and you kind of pushed out some gems there. What were some very key, big lessons you learned while being an entrepreneur? I think manager casually. You have no idea if you're starting out. When I did production and did these projects, when I worked for the cable company before we were bought out, I didn't realize that you had to pay for insurance and overhead and the electricity and all that sort of stuff.
00:24:58
Speaker
And when you're in your own business, you got to pay for it all. You've got to look for it all. So there's never enough cash in a business. And then the second is, I mentioned earlier, is taking some of the money when you do have profit is putting a percentage of that away for new projects and also for the rainy day fund when things are light, then you can operate and be around for a lot longer in the business. So I think cashflow money is always top of mind of any,
00:25:24
Speaker
entrepreneur and i never ever wanted to think that i had to go to the bank and declare bankruptcy or do anything else so i waited until i had some money in the bank and then just took a portion of it figuring that if i ever got back to zero i'd go do something else and i'd still have lots of money so i think often and that's a lot like gambling isn't it you know you go to the craps table and you play and you win
00:25:45
Speaker
And you could walk away with it, but man, that was fun. So I'm going to keep betting. And then all of a sudden you get down to zero. And I just know that if I pull out another hundred or another thousand to bet, I can win it all back. People don't. So the big lesson I learned in the, in the gaming business is that to play and to gamble, what you want to do is say today, I'm going to spend X amount of dollars. I'm going to spend 50 bucks, a hundred bucks, whatever you can afford to lose. And I'm going to call that my entertainment money and I'm going to go play it.
00:26:13
Speaker
And it may play for 20 minutes. It may play all day. But if I lose that much money, I'm done. And if you're going to walk away, you've had some fun, you've had some entertainment, and you feel a lot better the next morning when you wake up that you still have some money and you just use money you knew you would lose or could lose. If you didn't, you might have spent it on another show or on something else. Who do you think were some of your personal career influences?
00:26:38
Speaker
or very Johnny Carson was the one that really pulled me up over the top. I got to go be on his show and he's actually was born in my state in the early days. And, but he had a personality that could relate to anybody. And I haven't met anybody that I really
00:26:53
Speaker
You know, I like, I like them all. I like to meet people. I like to learn new things. And I think he exemplifies that. He could bring out the best of anybody and he made a lot of money and he was a good business person on top of it. Ted Turner was another one. He was on the scale of just nuts. I mean, the guy was just nuts. He would try anything, do anything, say anything. And he probably wasn't the most tactful in what he did and how he said it, but he was probably one of the
00:27:20
Speaker
most unique entrepreneurs I've ever met. Now he owns probably more ranch land than anybody in the world. I mean, a guy was just fun to be afar and watch and actually be able to do some business interactions. Interesting dude for sure. The others are fun female business leaders that you probably don't know the names of, but who have helped talk, but basically had work ethics that matched mine, which was
00:27:45
Speaker
You know, we're going to have some bad days. I'm, you know, I'll get upset, but I'm not going to get upset and do personal attacks at people. They would lead, they would always be ready to go. They always had their projects done. And that's kind of the respect you have as you go into business. You got to decide, you know, you want to be true to yourself and back to my point about trying to relax. A guy named Damon John, who's on Shark Tank, black guy on Shark Tank, great guy. I did an event with him a couple of weeks ago or a couple of months ago. And he had something that I learned that,
00:28:14
Speaker
I thought was really unique. You know, here he is making all this money, making decisions on million dollar ideas. Basically, he had a list and I said, what's the list for? And he said, I have a list that at night I look at and then in the morning I wake up and change again. Five things I'm going to do for myself today. He's going to do five things for himself, which puts him in the state of mind to help everybody else. And I
Promotions and Closing Remarks
00:28:34
Speaker
think that just in a simple sense is very entrepreneurial and very, very positive. So this has been a beautiful interview. And just to kind of wrap this up,
00:28:43
Speaker
You wrote a book called the 80 million dollar gamble, I believe. That's correct. Also, let's talk a little bit about that. But additionally, what types of services do you offer as well? I do some consulting, management consulting. But what I really enjoy is if somebody has a big conference going on, they need a keynote speaker. I have two speeches, the 80 billion dollar gamble. And what that means is that the lottery industry sells 80 billion dollars a year in
00:29:11
Speaker
in tickets. Now that was in 2018. Today I think it's like 98 billion dollars. That's more than all the movie income, all the music income, all the sports ticket revenue combined. That's how many lottery tickets are sold. So the gamble was whether we'd solve that lottery fraud or not. So this tells the inside story of that lotto fraud and how a ticket, Hot Dog and Bigfoot helped solve that lottery gig.
00:29:36
Speaker
The other is dare to dream, dare to act. And that's some of the basic principles we've been talking about for entrepreneurship and coming up with the new ideas. But those just compliment the speeches that I do. And I have at terryspeaks.com pretty easy to remember. T E R R Y speaks.com is the website and, and it has all the contact information and shows some examples, but that is, it's just the greatest gig in the world as a retired person. Cause I take the ones I want to and travel the rest of the time and just really, hopefully
00:30:06
Speaker
find that American dream of enjoying life. I expect to see you doing this, Jimbo, when I'm in my grave and you're doing the next, all of the great things that are happening. Well, again, back to you here. This has been, you know,
00:30:19
Speaker
an amazing interview. I personally learned a lot and I hope the people that watch this also learn a lot too. Do you have any concluding words or pieces of knowledge you would like to give? I think back to don't be afraid to volunteer for anything. That's in my opinion no matter what you're doing, how you're doing it and the other is let's help each other and let's keep our world a friendly and fun place. That's what I enjoy and doing things like this with you is
00:30:48
Speaker
really very rewarding to me and in my years where some people want to just go hibernate somewhere and and rock in a chair I'm not gonna do that I must see if we can't continue to help people and looks like you're doing the same thing with this podcast so thank you mr. rich you're a motivation you know what though Jimbo not once did you call me a son of a rich son of a
00:31:10
Speaker
It was fun. Definitely. Just to quickly end this off, I just have to do a few shout outs here. Sure, sure. Absolutely. First thing I would like to mention is Lifework Systems. This is our affiliate partner, Judy Ryan. She's essentially an HR superstar. She works in HR businesses and helps to sort of improve their infrastructure and make it a better collegial environment. And then the next thing, our YouTube channel, subscribe now. We're slowly growing into subscribers and
00:31:37
Speaker
Again, ring that bell. Second to final thing, the Roku channel. This is going to be on Roku TV as well as our other episodes as well. So you could just check out that Roku channel on our website, or you can get a Roku box. They're pretty cheap too. Don't get it just for this show. They have a lot of great shows, but yeah.
00:31:56
Speaker
Check out our Roku channel down there. And now the final thing, we're also opening up Jimbo Paris services. So essentially I act as a consultant and a service provider. I'm working with General Electric right now and I am providing them with exclusive content.
00:32:13
Speaker
so that they can market to a specific audience that they're interested in. So if you need someone like me to gear marketing towards what specific audience you want and make content for you, check me out. All right, I'm Jimbo Paris, and this is the Jimbo Paris show. Thank you again.
00:32:45
Speaker
Thank you for listening to the Jimbo Parish Show.