Now, think about it, there are thousands of you out there. And in order for us to learn together, we have to have a conversation. Now, there's a little problem here. I can't hear you and I can't see you. So I'm going to try and do things, such as that last exercise, having you write things down and asking you questions about the points I make. And having you really think, okay? And verbalize answers, to my questions, so we're going to have real conversations that are imaginary, by you answering questions. Now why is this important, because only by taking in what I'm saying, processing it in your brain and then actually repeating it, applying it, does your brain imprint the key concepts. And the goal here is for you to learn key concepts. Now we also know, from the science of learning, that concepts become imprinted from repetition, so I, I'm going to repeat key concepts throughout this course. And I know some of you are going to say, I get it, I get it you don't have to repeat it, but, different people learn different ways and I'm not going to repeat it too much, but bear with me. I'm repeating it for a reason, alright, because I want you to walk away from this course learning the key concepts. And learning how to basically live, live the key concepts, okay. So, you wrote down on the paper why growth requires the entrepreneur to change. Now, the first slide. I'm going to ask you a question, another question, I want you to write it down. Why did I put on the first slide a picture of a woman, lifting a barbell? What in the world does a barbell have to do with the topic the entrepreneur must change too? I want you to think about that, and I want you, on the discussion forums, to send me your answer. Okay, part one was the four P's. This course is about the fifth P. And the fifth P is people. Now I can also Define the P differently, if you will, that the P is also, it's personal. Business is a personal sport. Generally speaking, you will make money, by adding value, selling product services to people. Not corporations, people in those corporations who think you're going to help them. And if you grow your business and those of who have successful businesses have already learned this, you can't grow it without people in most cases. You rely on people to deal with customers, and so it is you the entrepreneur, through employees that deal with customers. Okay? That's why business is people. And one fundamental rule that we know, from research at Harvard, from research at Stanford, from research at Case Western, from research at the University of Michigan, and from my research, is this. Happy, highly engaged employees create happy, engaged customers and that create money. I'll use the US dollar sign, but it can be in the currency sign of your country. We know that to be true. And the number one thing, which determines whether employees are happy is what? Are you thinking? Is what? No it's not pay! It's you and how you treat people, and how you treat people. Look at that formula E the entrepreneur, you are the main determiner of whether there's happy employees, highly engaged employees, and that is a key determiner whether you got happy, loyal customers and all of that adds up to money. And that's something that basically you've got to keep in mind, and what this here is, it says is, ladies and gentlemen, how you treat people, how you talk to people is important, is important. Because all of those daily interactions with you, your employee are sending directly or indirectly messages. And those messages basically go back to a brilliant theory, brilliant theory by Douglas McGregor, a professor at MIT. Theory X, theory Y, each of you out there, every person has a attitude or a belief about employees, every person, you do I do. And its either theory X or theory Y. Theory X. I'm going to go back, where I can write here. Theory X, people who are theory X people, believe, people are a cost, to be controlled, monitored. Theory X management is command and control, hierarchical, top down, authoritarian. So do you think that employees will basically want to get by with just as little as they can? Do you think if you're nice to employees they'll take advantage of you? If you think that, you're theory X. Now theory Y, says people are an asset, an asset to be valued, and developed, an asset to collaborate with to create value. So you're either theory X or theory Y. Stop a moment, let's stop a moment, I want you to think and I want you to be brutally honest with yourself, because it's important. Are you a theory X manager, entrepreneur, person? Or are you a theory Y? And write down your answer on your piece of paper. Because the answer to that question, is what drives your management style and your management philosophy. Okay? Take a second and think about that, and I'll be back to you in one minute. I want you to think deeply.
