Executive in Residence: Alfred F. Longtin


Uploaded by businessEIU on 01.11.2011

Transcript:

>> Dr. Cheryl Noll: Good evening.
I'm Dr. Cheryl Noll I'm the chair of the School of Business,
welcome to Lumpkin Hall and this evenings executive and residents
presentation by Mr. Al Longton.
At this time I would like to recognize the faculty who are
involved in the external relations committee in the
School of Business.
These kinds of events happen only with faculty participation
and a lot of coordination and a lot of hard work, I'd like to
thank Mr. Paul Brown who has brought Mr. Longton here with us
and created a really good couple of days for his business here.
So thank you Paul I appreciate all your hard work.
[audience applause]
Mr. Longton is a School of Business Finance alum
which is why he asked all the finance students
to sit up front.
Prior to college, and he didn't tell us what year he graduated
so I'm not,...
>> Mr. Al Longton: 1986.
>> Dr. Noll: 1986, I wasn't sure
if I was like...
>> Mr. Longton: A hundred and fifty years ago.
[audience laughter]
>> Dr. Noll: Prior to college he
spent four years in the U.S.
Navy, and we heard a couple of stories about that
at dinnertime, so he has some really
interesting stories to share.
Al Longton is the president and CEO of AB Resources Inc.
and a managing director of Capitol Financial Group.
He specializes in assisting businesses and high net worth
individuals to address long-term wealth transfer
and business planning issues.
The advice that he provides is focused on creating legacies
through wealth creation and wealth preservation plans that
utilize a wide variety of financial products and services.
He has worked with multi-generation members of
family held wealth and has focused on business succession
planning and rewarding and retaining key executives by
designing state or the art executive benefit plans.
Mr. Longton is a nationally recognized expert regarding
family limited partnerships, family foundations,
and complicated estate trust designs.
He is frequently asked to participate as a member of the
board of directors for leading privately held businesses
and is currently serving on the creative agent advisory board
for the Creative Marketing International Corporation.
Mr. Longton has attained designations as chartered
financial consultant and chartered life underwriter
with the American College.
He is an active member of the Society of Financial Services
Professionals, and the Chicago Estate Planning Council,
and is a past president of the Bishop McNamara High School
Alumni Board.
On a personal note, Mr. Longton is a competitive national road
racer, as you saw from the first slide that was up here,
and he also enjoys golf, running, cycling,
and being with his family.
He has run in several marathons, and I think he said six,
is that correct?
>> Mr. Longton: Yeah.
>> Dr. Noll: Six marathons and enjoys the
challenge of training.
Mr. Longton and his wife have two children
and reside in New Lenox, Illinois, where they are very
active in their local church.
We're very privileged to have Mr. Longton with us as an
executive in residence.
He has spent this afternoon, and he will spend the tomorrow
morning meeting with students and faculty, and I certainly
hope that he has enjoyed his stay here so far as much as we
have enjoyed meeting with him.
Please warmly welcome him to the stage.
[audience applause]
>> Mr. Longton: Thank you Cheryl,
I appreciate it very much.
It's a privilege and an honor to be here with you today, tonight,
I didn't expect this many people to show up because if you were
from my hometown you probably wouldn't think
I have a very good reputation.
You all must not know me.
But anyway, I have a, I have a great appreciation for the time
that I spent here at Eastern Illinois University,
when I was here, I don't know if I appreciated it
as much as you do when you go through life.
But I want to say thanks to one person, Steven Call,
who's actually helped me reconnect to this school.
Somehow we got engaged in, and he's been working here for this
year in the development office and it was really really
interesting because I told him that I don't know why
I never really connected and got engaged back with my college,
but I got really engaged back with my high school.
And I'm one of these people that think it's very important to
recognize as you go on in your life the people that help you
get the places that you're at.
And I just wanted to make sure that you guys understand that.
I want to start off by telling you that if you heard the music
playing before I started here, I just want to let you know that I
kind of like music, I'm one of those goofy dads
that like dances and embarrasses their kids.
I have a 20-year-old daughter that goes to
Arizona State University and she says, "Dad
you don't embarrass me anymore, you just embarrass yourself."
So if these guys saw me dancing I'm like one of them guys at the
wedding you're just like turned your head and say, "Naw, no."
But anyway, I think music can set a stage and help us
understand things a little bit better, there's a creative side
of me that I'm a hack, fender, stratocaster guitar player,
and I play like old rock and roll like Ted Nugent
and kind of crazy old stuff like Aerosmith.
But the problem is I can't finish all the songs because I
can't remember the songs, but if you've ever played a
musical instrument you probably understand that, it's not easy
to learn those things if you don't keep up on it.
But I'm going to set some rules for the engagement tonight.
First off I said I'm only going to speak tonight, number one,
you guys have an open mind about what I'm talking about.
Okay?
So we good on that?
Open mind.
Two, have an open heart.
What does a heart do for you?
Passion, your passions come from your heart.
So you have an open heart, and number three just yell fore like
a golfer would before you start throwing things at me.
[audience laughing]
>> Mr. Longton: Alright, just make sure
I know about that.
I'm the youngest of nine, I've got seven older brothers, and I
got a lot of things thrown at me as a kid so, a couple things so.
Oh yeah, and we have to do the social media disclaimer.
That is if you take pictures, just don't tag me
on your Facebook tonight, okay?
Mainly because I still got like 18 pounds to lose
on this whole diet thing I've been on for the last 20 years.
[audience laughing]
>> Mr. Longton: One pound a year,
another 18 years I might be there.
But anyway, seriously I truly hope you guys get something out
of the talk tonight and somehow it helps motivate you,
it puts some thoughts in your mind, plants some seeds,
just might be a stepping stone or something to your future.
I was asked to be in this executive residence thing
and what I wanted to tell you was that there's really
four things that they asked me to be in this, and that is,
one is student motivation, two is express where my
companies fit into, AB Resources, the company that
I own, started in 1992, fit into the world of business.
What AB Resources expects from professional employees.
And what tools and skill sets prospective employees
are expected to possess.
Tonight we're going to be talking about business
relationships in a transaction world, the context of this,
how many of you would agree that we live in a world were
transactions are pretty quick and easy to make without really
having a human touch with somebody?
Big time.
Ninety-nine cent songs on my iPhone, right?
Am I really touching anybody that works for iTunes?
Not really.
But we've got, what we got $249 computers
that I can buy on eBay.
Anybody got any other examples of like transaction things where
really there's really no humans involved in it,
you just buying stuff.
In your own mind you probably have a few.
Anyone?
>> female speaker: [unclear dialogue]
>> Mr. Longton: Debit card.
Perfect example.
It used to be you had to write a check look at the person
you were buying it from, the merchant, hand them the check,
and they trusted you if you paid for your dinner.
Back like a hundred years ago when I was your age.
But we're in a transaction world and we're going to talk about
building those relationships.
Okay, we already have the technical difficulties.
Is it a battery?
Okay, anyway, we're going to be talking about relationships.
When you talking about relationships,
you have two different people right?
Somebody's talking, somebody's listening.
When you have a relationship that you build online,
wherever you're at, in classes, you have two people talking.
This is one of my favorite quotes.
I went to Wikipedia, which I understand is not the approved
professor school system for definitions, but since I used
that I wanted to find out what is a transaction
and how is it defined.
And if you guys look at this, it's a couple of words in this
that stick out.
Transactions involve what, entities or objects.
So if you're an entity, and you're an object,
is that real personal?
No, transaction, transaction, transaction.
So entities and objects.
Moving songs that I buy off my iPhone, boom, right?
Not a lot of personal relationship stuff
going on there.
When you buy things or you are out in the market trying
to shop for things, you're trying to find for
some kind of connection typically.
Transactions don't give you that connection
that most of us desire.
At your age, you guys have all gone through,
all you guys and girls have all gone through a lot of this
transaction kind of mentality.
As an owner of a company, CEO of a company I want to tell you,
I get people that are coming in that seem to think that things
just happen automatically, they don't happen by motivation,
they don't happen by finding out people's objectives
and needs, they think,
"Well if I just tell the story, something's going to happen."
Doesn't work that way does it Ryan?
In the real world, we have transactions
and then we have interpersonal relationship.
Why do I have interpersonal relationship on there,
because I'm talking about personal relationships.
If you look up Wikipedia, there's like six different
definitions of relationships, okay, and the definitions of
relationships are like, let's think about mathematics,
any of you understand there's a relationship from
variable A and variable B and how those go,
whether they're linear, non-linear, all that kind of
stuff that I got like Bs and Cs on when I was at EIU.
Struggling through my business calculus going, "Oh my god!
Not another test like this please!
The guy's going to kill me!"
I wasn't one of those guys that was like a super A student in
the really advanced mathematics stuff,
but I did like finite mathematics.
Any of you like finite mathematics?
I don't know for some reason I liked it.
Interpersonal relationships, an association between two or more
people that may range from fleeting to enduring.
Usually involves some level of interdependence,
people in a relationship tend to influence each other,
share their thoughts and feelings and engage in
activities together.
Hello sir what's your name?
>> male speaker: Eric.
>> Mr. Longton: Nice to meet you.
Thank you for coming tonight, I appreciate it.
Eric, I appreciate you sitting in the front row.
It takes a lot of courage.
Especially if you know I'm talking.
So what are the words we can look at here
and learn something from?
Influence each other, and engage in activities together right?
So what did the transaction have that
the interpersonal relationship doesn't have?
Objects and entities, this one here has what the human element,
the human element of me touching his hand, shaking his hand,
asking him his name, looking in his eye.
When I got out of this school at EIU,
I went out into the working field.
One of the first things I had to do is deal with people that
were trying to hire me.
They were trying to hire me and they were interviewing me,
and I'm looking at my shoes, what is the guy thinking?
When he's sweating when he walks into the office
and he's all disheveled and he's got to interview me,
and I don't ask him why, what's going on in his life that
makes him feel rushed and hurried maybe he's going
to pay attention a little more if I pay attention to him.
So if I pay attention to the other person,
remember there's two people in this relationship.
This is the kind of thing I'm telling you,
I believe there's a void that's happening in our life.
Technology is not to blame, but it's part of the issue, and I
see people who are not willing to influence each other
and engage in activities together.
I'm going to tell you a real quick story about Doc Searls who
actually was a guy that as one of four authors that wrote in
the early 2000s a book called the "Cluetrain Manifesto".
"Cluetrain Manefesto" was a book written about how marketing
was going to change, how the internet was going to
change marketing.
It was one of them books that I read because I'm one of these
guys that read books most of the time that nobody else reads
because I'm just goofy like that.
But the book describes, and he wrote a chapter called
"Market Conversations" and I'll never forget I read this thing,
and it said that the internet's going to turn into
kind of a world where there's actually going to be
developed market conversations.
The other night, I'm on Realcyclist.com where I buy
those goofy stupid shorts and things that biker guys that look
like fat old guys shouldn't be wearing that kind of stuff.
I'm on there and all of a sudden a box pops up, and it's a person
asking me, "Can I help you?
Can I assist you?"
And I like freaking out, I'm on the internet like, "Whoa!
Wait, what is it?"
And it's like a person that pops up and a person is
asking if they can help me and answer questions, live.
I'm like, "That's pretty cool."
So I start having a conversation with that person,
found out where that person was from, that was real person.
It wasn't a person from India, by the way, or from some other
country, it was actually a person from the United States
from San Diego area, and we had a good conversation.
It was pretty cool, so that book kind of helped.
Doctor Searls was sitting on an airplane flying back from a
speaking engagement in Nigeria, and he was sitting next to
a Nigerian pastor.
The Nigerian pastor spoke eight different languages
and was also on the speaking tour but he was specialized in
translating bibles into languages,
into the different native tribes ' languages.
So like, not every tribe in Africa has the same language.
Even if they're in the same country, there might be
20 different languages, I didn't know that.
But they're sitting on an airplane and the next thing
you know Doc Searls starts talking about what he's
writing this book on, and "Market Conversations"
was the chapter he was on, and he said,
"Well the market's turning into market conversations."
And the pastor said, "Well I think you're right,
but I don't think that's everything."
He said, "What do you mean?"
He said, "Well in my country, when you want to go down to buy
some material to make shirts and things, because we don't have
afforded the right to be able to go to JCPenny and buy our
shirts, and you want to go into the marketplace and you want to
buy some kind of goods, you go over there and you walk into
the marketplace and there might be a person that's selling
the yarn or might be selling the shirt, the material,
the cotton or whatever, the silk.
And you start having these conversations with that person,
and if that person asks you questions about what you're
going to be making, you might engage that person a little bit
more than a person that just says it's 3.99 a yard."
Right?
And Doc Searl said, "Well, I would agree with you
but tell me more."
And he said, "Well, what if that person started having a
conversation with the person in front of them, found out what
they were going to use the, not only what they were going to
try to make, but they were using it for.
Are you using it for work, are your using it to go out in the
fields, what are you trying to do, what kind of material
do you want to have."
He said, "How important is price, if that person starts
asking those questions and really starts digging in
and finding out what that person in the marketplace,
the other person, the buyer is looking for?"
And that example, I can tell you price doesn't matter much, why?
Because the seller in the marketplace,
who's selling the cotton or the material is engaged in what,
with that customer or that buyer?
A relationship.
Developing a relationship.
So I read this, I was doing the research for a study,
and it was really fascinating.
And you think when you go into markets you just nip and I don't
know if any of you have ever been to Mexico or some of these
other foreign countries, less developed countries.
You go in and you negotiate and you bargain and you do this, and
I'll give you five bucks, no I want eight bucks, I'll give you
three bucks, this is the way it is in Mexico I'm telling you.
Big time.
I go to Cabo San Lucas and I go to Cancun, but I go to Cabo San
Lucas like twice a year and you go to the market
and they don't ever talk to you.
So it's all about price, when it's all about price
what is that about?
It's a guy who sells it for the least, wins the battle.
How long can you exist if you do that?
Transactions still matters, you still want to have the
transaction happen.
Biggest wedge, this is what the Nigerian pastor says,
"The biggest wedge in the social pie of the
public marketplace is relationship.
Price is less set than found, and the context for finding
prices is both conversation and relationship."
Do you guys understand the concept of elasticity
from economics class?
How elastic a product is.
A lot of people don't understand the concept of relationships
and what that has to do with elasticity.
You can charge a lot of money to do some things that other people
are selling for half the price, as long as you add what?
Value.
Big value to that relationship.
Bottom line is not everything as far as profit goes,
just to sell it for 3.99.
How many of you people get Groupon?
Okay, you're in college, you probably don't have any money to
get Groupon but Groupon sends out these things everyday to me.
I got a question to ask you, Groupon everyday
sends me another deal of the day, they send it for Chicago
and they send it for Phoenix okay.
Groupon's never engaged me in asking me what
I would like to purchase or what my needs are.
But I can tell you one thing to learn from Groupon is, the next
time anybody wants to make fun of sales or being a salesperson,
tell them Groupon is the biggest salesperson
you've ever met in your life.
What Groupon did is figure out how to sell things for people
that don't know how to sell them theirselves.
So Groupon is a good example where they never engaged me in a
relationship so they don't know what I really want.
So I get like the spa treatment in Phoenix
and I don't want that.
I got a story, I had a mother-in-law, bless her heart,
she died about three or four years ago.
She was one of these that never learned how to drive,
so when she got around electronic things
she got a little worried.
She still liked to change the channel on the TV.
She would watch Chicago Bears games and throw stuff at the TV.
I loved her, she was a cool lady but I went into this thing where
I thought I wanted to buy her a camera so
she could recapture moments with her grandchildren etc.
So I went in, the first thing I did was I went on the internet,
I'll never forget this, I went on the internet and I figure
I'm going to go on the internet and find her a camera.
Man, I went on the internet all of a sudden there was
megapixels, there's pixels, there's apertures, there's
all this crazy stuff associated with cameras and I realize,
I don't know nothing about cameras.
I really don't know, I don't know battery life,
all this kind of stuff.
So I go to, where do I go, I go to Orland Park.
Anybody from Orland Park in the crowd?
Yeah, so you know the deal, Best Buy in Orland Park right.
Go to Orland Park, walk in there, I walk in and first off,
I don't even know where the cameras are.
I'm over looking at refrigerators or something and
my wife's like, "We're here to look at cameras, aren't we?"
Because my wife's one of those shoppers
she goes in and gets out.
I'm one of those guys that walks around, sees people,
talks, looks at everything.
So I go up there and finally we find the camera department, and
I go up there and this guy goes, "Hey, can I help you sir?"
And I go, "Sure, I'm looking for a camera."
And he says, what Best Buy people are trained to say,
"Well what are you looking to spend on a camera today?"
I mean that's all the sales training they gave
Best Buy people that year in the camera department.
Then I said, "What are the prices of cameras?"
He says, "Well we have cameras that range from $79 to $799."
So I said, "I want to spend between $79 and $799."
And he looked at me like he had three eyeballs and didn't know
what to say now, because I didn't tell what price point
I wanted to enter.
So we go through this conversation,
and the conversation basically exist at he said,
"Well all I can tell you is that, that's our really
big seller over here" and he brings me over
to this camera, that's like a $129 one
or $99 one, like that's the one that everybody's buying today.
And I kind of thought about it, and I thought, "You know what?
This dude doesn't even care about what, you know this is a
camera for my mother-in-law, and she's a cool lady."
So I leave Best Buy and I go to this place called Wolf Camera,
I don't know if anybody's ever heard of them.
So I walk into Wolf Camera, which is actually closer to my
house, funny thing, closer to my house I go to Wolf Camera, and
I'm thinking this is like one of those little boutique shops, I'm
going to walk in there and I'm going to end up walking out with
a tripod and spend a thousand dollars on a Nikon or something.
And I walk in there and the first thing the lady says to me
is, "Hello Al, can I help you with something?
How are you?"
And I said, how does she know my first name?
"Oh you work out at Cardinal Fitness or Lifetime Fitness"
and we had met before.
So then she says, "What are you doing in here."
"Oh I'm shopping for a camera for my mother-in-law."
She asks me the following questions:
She says, "how knowledgeable is your mother-in-law
about using cameras?
How often is she going to use it?
What doe she want?
What does she want out of a camera?"
And I said, "You know my mother-in-law is the kind,
I got to have a camera, and she's got to be able to
put it in a drawer, pull it out and duh duh duh.
That's it man it's got to be really simple,
but I want it to be quality."
So she goes through these questions and tells me,
"Well I think I got a camera over here that would
fit what your mother-in-law really would like."
Alice is her name--she actually knew Alice's name
by the end of the conversation.
And bottom line is, what do you think is the question
I didn't ask?
I didn't ask her the price of the camera.
She said this is the camera based on what you told me
that Alice is going to use, she's going to appreciate
and she's going to utilize.
So the bottom line was, I ended up spending $249 on a camera.
I don't know if you could have got it on eBay, half.com,
amazon.com or whatever for 99 bucks if you knew Paul Brown,
but I bought the camera because I figured if it didn't work for
Alice she could come back and see the person at Wolf Camera.
And I'm not the camera expert.
So Best Buy lost the sale.
I have a son named David.
David is 17 years old, plays video games better
than probably 80% of you in here.
Which is kind of a challenge for me, but anyway.
He's into this tuner thing, sports cars and all that.
I race sports cars, and indy cars like
formula 1 cars, indy cars-- I did that on and off
for like 15 years, and then I raced sports cars for a hobby.
And David has this G35 Infinity,
which I know a lot of you would be like,
"Whoa!" you know, but it's a nice car.
But he wants to put the wheels on it, he wants to do all that
stuff, and David's a good kid, he's a really good kid
but I can't trust him with money because
it'll be like there ain't no limit.
So I go online, he says he wants a catback exhaust system.
Anybody know what a catback exhaust system is?
It makes your car sound like it's really cool
when you like hammer it.
Okay so we go online, he finds four or five different places
and shops the prices.
This one's $1299, this one's $1099, this one's $1149,
shipping's included/not included,
he finds all the prices.
So I buy this thing from some shop, some place,
some shop in Houston for like aftermarket parts for cars
for like tuner cars.
So we buy the thing, I send the guy an email, and I send the guy
an email and I tell him, "You know what, by the way
I also have a question about if I'm buying
a cold air induction thing, cold air thing,
it's an air filter thing makes it a little stronger."
I said, "I wanted to know if you had the Injen, I-N-J-E-N,
or if you had the other one, and I'm
also thinking about looking at a brake system, and I
also would like your opinion on shocks and coil over shocks."
Now this is no kidding, the guy sending me the email sends me
back and says, "Well I'm working on your sons order to get him
the catback exhaust system I'll get back to you
on the rest of that."
We got the catback exhaust system, is anybody in this room
have any idea how much other stuff I was talking to that guy
about buying?
Anybody know?
Coil over springs, brake kit, oh I didn't say the brake kit too.
Brembo brake kit, coil overs, $4000,
$5000 worth of stuff.
So what's the lesson learned?
Uh, best to read your emails.
Don't miss those cross selling opportunities.
He was so, I guess this guy was just so busy
getting orders through, he didn't have the time to talk
to me about what we were trying to do.
So where do you think I'm going to get the Eibach's at?
The coilovers?
I'm going to the local place, to the guy who's going to put them
on, who's going to order them and does it matter
whether I pay $200 or $100 less?
Because I want the guy who's putting them on, he orders it,
that way if something's wrong with it it's his issue right?
But that guy talked to me about putting on the brake system,
and he said, "No you don't want to do that Brembo thing,
you can do an AP system, you can do this and that,
it's basically it's like $800 less."
So we need to move from thinking about selling products, actually
we have moved from this, sell products, and then we move into
providing products and services that go along with this,
and we need to move into owning consumer experiences.
Consumer experience, can somebody say what
a consumer experience is?
Anybody got any examples of consumer experiences?
Like, "Yeah I went to a place and they actually sat us at a
table that was desirable, felt like the food was good, service
was great, the lady that served me made me
feel special because that was just her approach or
the guy that served me made me feel special."
Anybody ever give a bigger tip in this room?
I know you don't have a lot of discretionary money but a
bigger tip to someone who made you feel special.
Anyone here?
Okay, or is it always just 15%, 10% or whatever?
Is it 10%?
If you're a college student I think
you're exempt from the 15% rule.
I think you're more on the 7% rule.
[audience laughing]
But, that's why when you go into restaurants they go,
"Oh, that kid in college got an Eastern shirt on, no, no, no".
But owning consumer experiences.
How many people want to dream the client's dream before they
fulfill the client's need?
You know in our business we have to do that.
We provide services at the highest end to privately held,
family-owned businesses and entrepreneurs, and some of the
most successful financial people in the United States of America.
People who have net worths of 100 million to 4 billion dollars
are our clients.
People who make 200 million dollars a year in income.
Yeah, more than your rock star buddies, right?
People who actually have a lot of advisors, a lot of CPAs,
tax attorneys, and people around them.
And I told people in the classes today, that I was shocked
one day when I was sitting in Greenwich, Connecticut in a
meeting with CPAs, tax attorneys, and all these people
and all the family members and they were all Ivy League
graduates and they were sitting there listening to my
presentation on how I was going to save this family
$30 million a year in income taxes.
And then it hit me, I'm not kidding you,
you've got to listen to this part.
It hit me, here was an EIU student, who came to this
school, really didn't know what I was going to do for my career,
had no idea, somehow I fell into finance, kind of knew I liked
that area, and I'm sitting there giving a family like that
with $4 billion of net worth advice on
what to do for tax strategies.
It had nothing to do with me, I'm telling you.
My first thought was, here, this place.
The high school I went to, the grade school I went to.
You see, a lot of our success is due to other people,
and I think a lot of us don't like to, we don't like to
give other people the credit.
But how many of you think that you would be where you're at
today if it wasn't for your mom or your dad or your parents
or your guardian, whoever that might be.
Seriously.
Always make sure that we give other people the recognition.
So we move from the transaction mindset by asking questions,
finding out more about people.
Other key relationships, let me tell you a little story
about a guy named Jack Lee.
I took a vacation with my family to my favorite spot,
Huntington Beach, California to the Hyatt
Huntington Beach, California this summer.
Hyatt Huntington Beach, California is on the beach,
it's where they have the world surfing championships
and all that, U.S. surfing shampionships.
When I was in the Navy, I learned how to surf.
I was a farm boy from Bourbonnais, Illinois,
and I had learned how to surf.
But I still have this thing that I'm going to prove to somebody
that I can actually stay on a surfboard for
longer than like 20 seconds,
which is about my record for all-time for my career.
But we go to Hyatt Huntington Beach, my son, 17 years old is
with me, remember I told you about he likes the Infinity G35,
the whole tuner thing, likes cars all this kind of stuff.
We're hanging out at the hotel we figure out the first night
mom and his sister, you know she's 20 years old, their kind
of hanging out doing their own thing, so we decide we're going
to go out and we're going to go check out southern California,
see if we can find any of those tuner cars because a lot of
times they go into parking lots and they hang out together.
They have Mitsubishis, and Suburus
and all these kind of cool cars.
So you get to hang out with these guys.
So we go out and we do the valet thing at the Hyatt, you hand
them the thing and they go get your car, they go get the car,
they come back in and this guy pulls up in my car gets out, and
he's got this goofy hat on, they make him wear these goofy hats.
He gets out and he's dressed in this outfit I know he doesn't
like wearing but he's a really nice guy and he says,
"Hey how you doing", gets me into the car.
"Where you guys going tonight?"
And we're sitting in the car and I go, "Well we're going to go
out and drive around Long Beach area just see if we can find
some like tuner guys like hanging out with their cars and
stuff, you know kind of like the Fast and Furious thing.
You know, can we find a parking lot
and watch these guys racing in a parking lot."
I don't encourage any racing on the streets by the way,
I belong to a private country club and we have a racing,
we have a racing country club, it's crazy,
but we have sports cars and we go there and it's safe.
But anyway, so the guy says, "Oh!"
And I says, "I want to find those tuner guys."
And he goes, "Oh, I'm one of those guys."
This is Jack Yi.
He says, "I'm one of those guys."
I said, "Really?"
And my son says, "Really, what kind of car you got?"
He says, "Oh, why, what kind of car do you have?"
He asks my son first, my son says, "I have an Infinity G35."
And he goes, "Oh I have a Skyline GTR."
My son like about flipped out, this is like a car that was made
in Japan in the early 1990s that has a right hand driving wheel
because they drive on the opposite side of the road.
My son's like, "You're kidding me!
I can't believe you got this car."
So he says, "Hey, if you want to see the car,
plus I can show you where you'd go to meet these kind of people.
So you want to see my car."
So right away he brings us down to this garage after waiting--
we waited for like 10 or 15 minutes for him--
he brings us down to this garage and shows my son this car.
This 1992 Skyline GTR, Japanese made, Nissan,
that is just unbelievable.
And it's got like 500 horsepower and all this kind of crazy
stuff, so my son ends up saying, "Dad, this is awesome,
I can't believe this."
Then later, Jack ends up, we leave, he tells us where to go
to look for those kind of cars and those people,
where they're hanging out in Huntington Beach
right up the road actually.
So then he says, the next night we're going to have a thing
where we all get together in this Lowes parking lot
up in Long Beach.
So we go up to long beach, hang out with Jack, there's all these
kids with these cars, my son's relating to them, I'm with them,
and Jack had told all these kids that we were coming,
and he said, this old guy you have to put up with him,
he's kind of fat, rides a bike or whatever,
but anyways he's bringing his son.
So we end up having this great time,
this experience with this guy right.
He brings us to his friend's garage, and his garage has all
these cars, so we go through all this kind of stuff and his
friend, this is the wild part of the story, his friend pulls out
a camera, and starts showing me pictures of their
mechanic that takes care of all these cars.
And I said, "Stop hang on, I want to look at a car."
I said, "That's one of my client's cars."
A client of mine is a professional sports
car racing guy.
His mechanic worked on one of my client's cars, I mean,
pretty small world-- things you find out
when you actually engage people and you find out.
But the moral of the story was, when I was leaving the Hyatt
Huntington Beach, California, two, three days later
when we were going off to Tempe, Arizona to bring my daughter
to ASU, what do you think kind of tip,
what kind of money tip you think I gave Jack Yee, the valet.
A good one, or bad one?
I gave Jack Yi what I paid for our hotel for one night
as a tip.
Hyatts are not cheap in Huntington Beach, California
in the summer.
Now here's the best part of the story, Jack Yi sent me
a picture of his baby he had two weeks ago,
we have a relationship.
Do you think if Jack Yi could fit into my company somewhere,
I might just think about hiring him?
He was the most important employee that Hyatt had at that
time, that night, for that couple days by far.
The concierge at the Hyatt Regency was busy looking at
their computer when I checked in, no kidding,
they were busy looking at their computer.
They actually, concierge, you know what a concierge is
in a fancy hotel?
That's a person that's supposed to engage you and show you a
good time, they were looking at the computer when we checked in.
The person that I checked in with at Hyatt didn't ask me
any questions about what we're doing while we're here.
Jack Yi was the number one employee for Hyatt that stay.
I'm just telling you as employees,
when you get in a job, I want to tell you something
really quickly, relationships.
Not only relationships with outside people like myself,
but you're going to get hired, and you're going to have to
develop relationships with supervisors, with co-workers,
with those kind of people.
Let me tell you what, I had a supervisor, sales manager that
hired me when I got out of this school, he went to Notre Dame,
okay, I'm not a Notre Dame fan.
Okay, so we'll just get that straight right out of the box.
And I went to a Catholic school and I'm not a Notre Dame fan,
that's really out of the box.
He used to taunt around about all the Domers
and all that Notre Dame stuff, I couldn't stand the guy,
I would just as soon punch him in the face
every time I seen him-- probably like a couple of you
want to do with me right now.
The bottom line is, I had to work with that guy and develop
a relationship and learn how to work around him.
You know what a lot of people do these days when they're working
with someone that has frictions?
And what people will even help you justify you doing?
Go look for another job.
You know, you don't get along with that person, whatever,
just go find another job.
How easy is that in this marketplace?
You're going to have to work with people you don't like,
you're going to have to work with people that just bother
the what out of you, but engage work in the business,
work in the business.
Put in an extra hour or two hours of time, I'm telling you
do not go out and start job hopping because you don't get
along with the people you're working with.
Learn to work with them.
Now if they're unreasonable idiot fools that are lying about
stuff and there's an ethical issue with the place you work
at, okay then you got to get out of there, but it's a big thing.
One of the big things we do at our company is
I reward community work.
People start at our company, they have two weeks vacation
and one week of community work they can do.
That means they have to go out and volunteer
and do something in the community.
They get a full week off paid.
Out of the box, I don't care if they're part time, if they're
full time, they get a week to go out and do something good.
How many of you in school here have ever volunteered to help
out and do something, raise money, do anything like that?
Do you get a good feeling when you do that stuff?
I mean seriously.
Have you went and worked out, and here's the thing,
I have a theory, when you get out of yourself, some of you
write this down, when you can get out of yourself and
into other people that's when you will learn the true idea of
being a servant leader or a person who's serving others.
Serving others, if you're feeling really down and you're
sitting in this room right now, and you're feeling bummed out,
your life is miserable or whatever, I'm telling you the
easiest way to get out of that funk is to start looking
at helping others around you.
I'm not kidding you.
You will not prove me wrong.
I'm telling you, it works 100% of the time.
So if I have employees that are like, "What a bum job,
I don't like this job", you know.
Blah, blah, blah, blah, blah, blah, blah.
You know, "I got to move boxes over here, this is stupid,
I don't know what I'm doing here."
And they go out and they work a week at a youth camp
or they go work a week at a cerebral palsy center,
with the less fortunate they work a week.
Try this one out, we had an employee volunteer
for a week in hospice care, holy cow.
You know what hospice care is guys?
Anybody here?
Anybody here had to look at a relative a mom, a dad,
a grandma, a grandfather who had to go through hospice care?
You know what I'm talking about?
Change your perspective on life a little bit.
You hang around people that are terminally ill or close to it,
it makes you think about life.
The energy in relationships, do you guys feel any energy
that I have with you right now, any of you at all?
You, smiley.
Yeah, right.
She's easy, she smiles at you right away but the bottom line
is the energy of relationships-- Ryan, walked into this room,
saw me, he comes up here, I met him when I was down here
talking to the security analysis class or whatever it was.
Student investment society-- something like that, right?
A bunch of guys trying to pick stocks,
trade a portfolio, whatever, In a choppy market,
don't make sense but anyway.
We won't go into that.
What kind of relationships do you have, do you seek out.
Oh this is great!
Think of this, I got, I got a plug, I got a cord, you know
them extension cords, I got a cord hanging from me and
I want to plug in to get energy or to not get energy right?
You ever been around people when you plug into them,
all of sudden you feel like, "Man I can't put up with this."
They zap all your energy, they pull you down, the negativity.
Anybody like that?
Right, they're around you.
We all can say we're probably like that sometimes,
I'm like that sometime.
I start bitchin' up a storm and next thing you know
it's pretty bad, but always try to hang around
people that when you plug into them they give you energy.
I'm telling you, I'm around some of the best entrepreneurial guys
that started companies, this is what I focused on in my
business, I focused on working with high net worth people.
We did that on purpose, because high net worth people's income
are growing and their net worth is growing--
look at the last 20 years of data.
I went into that business to serve them, I'm hoping someday
when I retire I can serve the people who are less fortunate.
Unfortunately there was no an incline in the wealth of
the less fortunate or the middle class in this country
over the last 20 years, it's a widening gap.
I serve the high end of the market.
I believe it's my time to go back and give back.
I do a lot of charity work and that kind of stuff.
But relationships, I hang out with some of the coolest people.
Out of the blue, me and another entrepreneur met another guy
named Tiger, first time we ever played at a golf course
named Cog Hill, spent the whole day with him.
He had a caddy that had one of them bags,
the bag was like the kind that you buy at the store.
He was an amatuer and he was on his way to go to school at
Stanford, he told me he was going to be an economics major.
I spent the whole day with him, and his father Earl.
The relationship I saw between his father Earl and Tiger
was incredible.
Do you think I ever asked him for his autograph?
No, he's just another guy.
Tiger fell, we all know this right?
You guys saw the headlines.
Tiger fell, we're all susceptible to temptations
and things like that.
It's very hard when you get on the top to not be a person that
people are trying to prey on, and they'll bring you left,
right, this and that, so you got to be around the people that
will help you stay the course.
So you got the choice of who you're going to plug into.
You guys with me for another 10 minutes or you want to go?
Can you give me 10 minutes?
Guy named Myles Monroe wrote a book called
"Understanding Your Potential."
Myles Monroe grew up in an area in the Bahamas, he grew up in an
area in the Bahamas that I had remembered, when I was reading
this book I had remembered the area in the Bahamas
that I went to when I was in the United States Navy.
Twenty years old we went to the Bahamas
and they said, when they let us off the ship,
I told you guys I was in the United States Navy.
So we go to the Bahamas, they say, the captain says,
"Don't go over the hill, you got it?
You got it?"
What's your name again?
>> male speaker: Tyler.
>> Mr. Longton: Where do you think me
and my buddies went as soon as we got off the ship.
>> male speaker: Probably over the hill.
>> Mr. Longton: Over the hill.
We grew up in the 1970s.
we weren't looking for a bit of honeys.
We went over the hill.
So Myles Monroe, this guy is a guy that grew up
over the hill in the Bahamas.
He wrote this book, I read this book and I'm going to tell you,
I want you guys to read this with me.
This is the forward to his book,
the first beginning of his forward.
Could you guys help me out?
"Perhaps a bland lifestyle like this is encouraged by an
apathetic society that prefers the easy shortcut to the hard
productive way, exalts goofing off rather than diligence,
promotes work ethic that concentrates more on what is due
me, than on what I owe, shrugs it's shoulders rather than
extend a helping hand, replies to every call to action with
'what's in it for me?' and prefers to sit out a problem
rather than sweat out a solution."
I'm telling you what, I read this book
and I read this thing right here I got it underlined 50 times.
I was one of them like it just slapped me in the face.
And I thought about this and I thought,
I've been in this world, have you all lived in this world?
Kind of like you go, "I really just don't care anymore.
I just don't care anymore, okay."
Myles Monroe touched me by writing this book.
The guy from over the hill in the Bahamas.
I didn't meet him when I was there, but he wrote the book
and I read that he lived over that hill.
I wish I would have met him when I was there.
In his preface to the book where do you guys, he writes this part
and this blew me away, the wealthiest spot on the planet is
not where you think it is.
Is the wealthiest spot on the planet the Middle East
where all the oil fields are?
Is it the South African diamond mines and the gold mines?
How about Silicon Valley?
It used to be chip making and all that stuff.
Myles Monroe contends that the wealthiest place is right around
the corner from where your house is, probably within a mile
or two miles within most of y'alls house unless you live
out in the farms or something.
It's in the graveyard--the wealthiest place in the world
It's a tragedy because what could have been has become what
should have been, the wealth of dreams has been dashed
in the poverty of discouragement.
I didn't have you guys stay here this last 10 minutes
to be a Debbie Downer, whatever you want to call it.
But how many of you have ever thought about doing something,
wanted to say something to somebody and you didn't do it.
I got two arms up for that one.
How many of you thought in your mind, "You know what,
it'd be nice for me to call my mom or to text her."
But you didn't do it.
I didn't have texting but, by the way
I lost my father a week after I graduated high school,
my mother died 9 months later-- changed my life when I was 18.
There is so much untapped potential in this room
right here, I'm looking at all of you here.
I know I interviewed a guy named Ryan, a phenomenal guy.
I can tell you, he knows it, we all know in this room
there's a ton of untapped potential.
Every employer out there is waiting for you to
realize your own potential.
People don't want to employ you for just you to be another,
"Well, I thought about doing it but I didn't do it yesterday."
Every single one of you, I'm not talking about just a few of you,
I'm talking about every single one of you individually
has potential that you probably can't even imagine.
Do you think when I was sitting here in 1985 in a finance class,
I ever thought I'd be sitting at a conference table with a family
worth $4 billion, giving them a strategy on how to save
$30 million a year on income taxes.
I had no idea, I just wanted to get a job.
You know when I got out of here I actually had a goal to make an
income, and that income, I'm telling you,
was a lot higher than the average income.
You know in one year I made 10 times that amount,
another year I made 20 times that amount.
You know I didn't do it for the money though, I did it because I
had potential and I knew there was potential in using my brain,
the things that I learned at a school like this, putting my
decision making skills and my data analyzing skills together.
That's what happens.
I have partners of CPA firms that work underneath me now.
It's unbelievable, I never thought that I'd get CPAs
working underneath me.
I couldn't pass the CPA exam if I had to.
I'm telling you I said hey if it's life or death I'd probably
pass it, but I'd have to come back to Eastern
for like three semesters just so I could get ready for it.
Purpose is really key.
When I said, potential needs though to have a purpose,
you know what I'm saying, purpose.
Do you think, when you guys watch sporting events,
you guys watch football, anybody watch football?
Basketball, baseball, all these sports.
It's really brought into the fold here
what is their purpose all of the time?
We want to win a Super Bowl right?
We want to go to the Super Bowl, we're going to be
division champions, we're going to do this, right?
How many of you have ever worked at any place as an employee?
Any place?
Could you imagine every time you walked into work there was
70,000 or 80,000 people in the stands watching you when that
clock clicked 8 o' clock or whatever time you started work.
Would you work harder if that was 80,000 people watching you?
Would you try a little bit harder?
I try to tell my employees that everyday we walk into our work,
we're at the Super Bowl.
Every single day, and I want to see the best that you can be.
Because if you fail and you're trying to be the best
you can be, I'm going to embrace that all day long.
Don't be afraid to fail.
There's a guy named Herm Edwards, they had a special on,
what did they call that camp before football, summer camp
or whatever they call that, training camp,
and there's a guy, a coach named Herm Edwards.
If you look, there's a special on HBO about it,
and Herm Edwards is standing up here one time, yelling at all
these guys about their blocking strategies and all that stuff,
and he says powerfully, "Don't be afraid to be great."
"Don't be afraid to be great."
You want to know something I think a lot of us are afraid
that if we try to be the greatest that we can be,
that we're going to disappoint someone.
Don't settle for average because average
is going to get you below average.
EIU, the administrators and the people that work here all want
you guys to grow up to be leaders somehow, somewhere.
You all are not going to be entrepreneurs, do the kind of
things that I do, but they want you to accelerate
and to be great, they don't want you to be so-so.
In here, who wants to go out and be just so-so?
So-so.
Actually there's a Japanese guy that I know named so-so,
no I'm just kidding, anyway,
A little too serious.
But they want you to develop into leaders.
Here's what you do, you have to have vision
and you've got to have noble goals.
Noble--Ryan, what does noble mean?
>> Ryan: It's like doing the right thing.
>> Mr. Longton: Doing the right thing.
Any of you have to have ethics class in this place?
You have to go through the decision making,
it's a big deal.
I'm telling you what, my generation of people,
I'm 51 years old, I know it's like a hundred to you guys.
But anyways, I'm 51, my generation of people owe you
an apology, because we have set a standard in this country for
decision making in the management world,
the corporate world, that has failed us.
We have taken advantage of greedy, we have taken advantage
of ego things, we have taken advantage of everything possible
to get ahead.
Anybody ever look or see the documentary on Enron?
I highly recommend every one of you as business students
watch the unedited, what do you call that
when it's got cuss words in it, adult?
MP, what is it called, NR there's some kind of rating
or something, but anyways, there's like a version of it
that's like an hour and a half, two hours long,
it's about the Enron story.
You want to talk about some people who knew
what they were doing was wrong, it was unbelievable.
And you know how they start the movie off?
There's guy sitting in the car he takes a gun
and he shoots his head, blows his head off.
True story, that guy was a chief financial officer of Enron.
They made decisions that they couldn't live with.
That man made decisions he couldn't live with,
so why not be noble, try to do something, do the right thing.
I can tell you, there's also sometimes you don't even know
you're doing the wrong, so there's a bit of innocence
when you're young like you don't even know
that you're making these decisions but it matters a lot.
We don't want to be just selfish in our goals.
Easiest way to wreck a family, if you get married, easiest way
to wreck a family is to only think of yourself.
This is an important part.
I start thinking the best about you, right now, and about him.
If I think the best about you two and I know I really believe
that, and it's not BS, it's not putting on a front.
How can we not develop a relationship that's going to
matter in this world?
You have to have that conversation when you're in
an interview process, you have to have those conversations.
You have to get into that business, do the research
before you go there, "I care about you man.
I want you to be all you can be, tonight, tomorrow,
the rest of your life."
Because there ain't nothing like a wasted life.
I sit in my company sometimes and I just go,
"I can't believe people don't get it, they don't get it."
But I've been blessed with this energy,
this kind of encouragment thing, and I say that truly because
if you knew me back when I was in high school you'd be like,
"This dude's a punk man, I'm going to knock him out,
take him out right now, get him out of the room".
But I had to calm, settle down, go in the Navy for four years,
kind of come to Eastern, Eastern kind of set the
path, and it really helped me out a lot.
So we want to have the mindset of a leader,
resolve, courage, and endurance.
Wisdom is the ability to apply knowledge correctly.
You guys are learning a ton right?
You probably thought you were going to come here and I was
going to teach you like how to figure out linear regression,
and do macro economics quicker and solve the problems right?
These are the things that are important but you've got to take
the knowledge that you're learning here,
what they're trying to do at Eastern here, is they're trying
to teach you how to think.
And if you don't put the effort into thinking and you don't put
the effort into trying to solve the problems, that Crystal Lin,
Mr. Whitaker, that Patrick Lach gives you
or these other finance, or accounting,
or marketing kind of professors here.
If you don't put the time into trying to calculate up how am I
going to solve this problem, and you do it the easy way
and you go on the internet and you find the answer,
who are you cheating?
Yourself, you really are.
You ain't cheating Eastern, that's the thing that people
don't get, they think they're getting over on the institution
and they're really cheating themselves.
But wisdom is the ability to apply that knowledge
that they're trying to teach you, correctly.
And courage is the will to apply it.
There's a thing called a serenity prayer, I don't know
what your faith is if you have no faith I'm going to
set aside here and tell you I am a faithful person
with respect to a spiritual connect okay.
I'm telling you, in my life, if that had not have happened
in the last 20 years my head would be this big
and my ego would be so big I'd be walking around thinking
that I was king of the hill and everybody needed
to kowtow to me.
The courage to try and maintain who you are and the roots that
you came from, the truth of the matter is, half the time
I'm late for things, if you ask me to prepare for something
I'm probably not going to be super prepared anymore because
I'm kind of taking it for granted a little bit too much.
I tend to not really respect other people's ideas
if it takes them too long to get it across to me.
I have a lot of issues personally I still work on,
I need that, I need to answer to somebody,
I have a personal coach that I answer to.
I have a mentor that I answer, I have a spiritual mentor
that I answer to.
I have three people around me to try and keep me grounded so my
head don't get that big, and I have my wife, bless her heart.
Steven knows her, been married for 21 years,
she's unbelievable, 22 years now and she's unbelievable,
she's put up with a ton with me, I used to travel 40,
45 times a year I'd be gone for two to three days.
We have clients in New York, we have clients in Seattle,
all over the United States, Miami, so you got to keep
that mindset of the leader.
There's three types of people, those that watch things happen,
those that talk about making things happen,
anybody want to guess what the third one is?
[audience speaking] Unclear dialogue.
>> Mr. Longton: Yeah, that's exactly what
I thought was going to be on this slide too,
those that make things happen, but I decided to steal
some Nike stuff, those who actually do it.
Don't tell Nike that, because I'll probably get sued tomorrow
but anyways it's true those that do it.
Remember, how long have you guys been studying?
In classes?
Since kindergarten, preschool?
Most of you are 19, 20, 21 years old?
Started when you were four years old.
How long have you been learning?
How many years, you're 20 and you started when you were 4,
16 years?
Eastern math majors.
Alright, been learning a long time, let me tell you something,
you'll never stop learning.
If you catch the fire of learning, it will never ever go
out, don't let it go out, don't let your employer see it go out,
don't let your peers see it go out, continue to learn forever.
I hope to someday continue to learn forever,
that's a goal of mine, but we learn and then
we get the privilege of earning.
It's like, "Hey mom I got a job man!
Can you believe it, they're going to pay me
like 46,000 bucks a year, unbelievable!"
She's like, "Oh I didn't think that Eastern education
was going to pay off."
I'm telling you, right?
Or they're going to give you a job selling something.
Because some guy told me you know I can sell it better than
the next guy, or they're going to give me a job being a
customer service person with Groupon because I learned from
Mr. Longton that all I got to do is ask a few questions I might
be better at Groupon, maybe I'll start my own department.
Who knows I might be the next billionaire at Groupon right?
But we got to earn, and when we earn,
what's the next thing we should do?
We should return.
I've returned to Eastern tonight because Steven Call
took the time out to speak to me about where I was in my life.
Cheryl Noll, I guess, somehow didn't see my resume at least
the back part of it and let me come tonight so.
But we're returning, and it isn't just money,
it isn't just give money back, give money back.
Bill Gates gave how much money, anybody know?
Bill Gates, the richest man in the world,
committed $30 billion, $40 billion to charity.
Who did he put in charge of running that, a guy by the name
of Bill Gates and his wife Melinda Gates,
did you guys know that?
So we talk about Warren Buffet, these finance people
that make all this money, these business people.
What is he doing at the end of his life?
Is he keeping it all in a big ol' bag?
So he can fly a jet over it, show everybody his
big ol' bag of money?
Nope.
There's probably a song about that isn't there,
you guys are laughing about this there's probably some rap song
about flying over and looking at your bag of money.
[audience laughing]
>> Mr. Longton: Is there?
We could probably do one of them, let's do it.
Chris Brown where's he at, lets go.
So we got to return.
But I'm going to tell you a little bit,
what am I doing with the future of my life?
Here's what I hope to do.
I had a chance to sell my company, I decided not to sell
my company because I wanted to build the people,
I wanted the people to realize their potential in life.
I have a young man that called me for an internship
when he was at ISU, he owns 15% of our company now.
He's an incredible guy, he learned my business inside out,
he didn't ask for too much money, he spent a lot of time,
he works sometimes until nine o'clock at night,
even though he has a new baby child and wants to get home.
He's responsible, he doesn't just go home at five o'clock.
I have an intern now, and about the fourth day I watch him go
home at five o'clock, actually he goes home at four o'clock.
But the fourth day I seen him go home I walked up
and said to him, "Michael, what time is it?
3:58, works over at 4:00 for you then isn't it?"
He said, "Yep, it is."
And I said, "After four o'clock what do you do with your life?"
He said, "I'm just going to go home get the xbox out,..."
Did I touch a nerve anybody?
"Get the Xbox out, play a little fourzone."
I don't know what he was going to play, World of Warcraft,
whatever it is, something.
I said, "How important is that to furthering your knowledge
about our business?"
And he said, "I don't know, it's not important."
I said, "Do me a favor, don't work longer than you need to,
because then you'll prove to me that you care
less than you ought to."
And he looked at me like,
"Does that mean I've got to work overtime?"
I was trying to get the point across, I don't care if he
stayed until 4:07, if he went and picked up the garbage in
the room over there and said, "Let me help you
with your boots," and took your boots off, anything,
the little things like that, that's what employers like
myself are looking for in people like you,
Eastern Illinois grads, that's what we're looking for.
Just a little extra, if you're a runner and you're going to run
in marathons and you're going to run five miles,
what's so hard about running five and a half miles?
It isn't.
Twenty-six miles.
But what do I want to do with the rest of my life,
I'm going to tell you what my goals are.
You guys are going to love this.
One, I really would like to come back into teaching
and to be a professor or some type of teacher at a university.
I'm asking you as a survey here, do you think I have a chance to
be successful, hands raised if you think I have a chance.
Okay, if you don't think I have a chance don't raise your hands
because I'll cry, but anyway, that's number one.
Number two, this one you guys are going to crack up at.
I'd like to own a surf shop in Huntington Beach
or Newport Beach or somewhere around a beach
because I grew up a farm boy looking at freaking corn fields
and I'd rather look at girls walking down the beach,
no I didn't say that, but anyways.
[audience laughing]
Did I say that?
But I want to own a surf shop and I want to hang out at a
beach and just be chillaxed, that guy that chillaxes, that
guy that ain't got no hair, grey, hair coming out of
his ears and stuff when he's 70 years old,
people making fun of him.
You know I want to be that Al guy,
"Who's that Al guy that's always hanging out here?"
With a little surf shop.
And then I also want to be a cross country trucker.
Not an ice road trucker for you guys watching that crap, I ain't
going to do that, because you can freeze to death up there.
But I figure I'd like to travel and see the rest of the
United States because I actually haven't seen that much of the
United States, I've traveled more in Europe and around
the world than I have in the United States
and I think it would be cool just to be a trucker.
One of them guys that drives across the United States
for a year, that's it.
So you guys think that, which one would you be
if you were in my position?
[audience speaking]
>> Mr. Longton: What would it be?
Surf shop?
Well whatever it is, do you think I'm going to try
to have fun at it?
Number one thing that I want you to know, you guys
have been very patient, you sat here you listened
to the big fat guy that rides a bike with
all those tight shirts on that just grosses you out.
I appreciate your patience and your time, and this whole night
was about you, I know I talked about myself but I'm telling
you, every one of you I believe in you and I'd like to tell you
that I'd like to see you out on the highway when I'm a
cross country trucker, and you meet me in the truck stop
and buy me some of that beef jerky or something.
Because I like beef jerky.
Now we got any questions?
You got a question?
Go ahead.
>> male speaker: My question is more directed to
like towards your business.
How did you go about not only like breaking down barriers to
get into the wealth management industry but also like growing
across state borders to get those high net worth clients.
So like what did you do that made them say, like building
those relationships, how did you get your foot in the door.
>> Mr. Longton: That's a good point.
He said how did I get my foot in the door
and build a business across the country.
When I was a small company, and the truth of the matter is
my clients that I had in Chicago, I asked them,
"Who are like you that you know?"
And they said, "Oh I know a guy that has widget manufacturing
facility, much like mine, but he's in Cleveland."
So there was a little airline called Southwest Airlines that I
bought a $99 ticket and I went to Cleveland and I saw that guy.
Word of mouth is how I grew nationally.
I was, I just figured if you knew him, or your knew her and
she was, so that's what I did by referral and word of mouth and
then I developed relationships with CPAs and attorneys around
the United States that thought they did what I did,
they thought that they knew what I knew
but the truth of the matter is I knew just a little bit
more about them specialty something special in there.
We're in a world of specialists, if you can learn to be a
specialist in a certain area you can get jobs
and be employed anywhere.
Look at the best job growth in like the nursing industry
and things like that, they can work anywhere right?
So I learned how to be a specialist and that's how we
grew, but really much it was word of mouth it wasn't fancy
dancy marketing and all that stuff and I can tell you I
probably would have grown faster using marketing
and those kind of things but it was always word of mouth.
He knows that person, that person knows that person,
she knows him, that's how it worked.
How many of you ever use LinkedIn?
Not very many of you really?
LinkedIn's crazy, you can go on there
and find a person that knows somebody
and you probably can find out that they know the
president of the United States, I'm not kidding yo.
It's pretty crazy but, any other questions?
Go ahead sir.
>> male speaker: [unclear dialogue].
>> Mr. Longton: Didn't go international.
I travel international.
Yeah I travel international.
Right, I go to Formula 1 races in Belgium and stuff like that,
yeah fun stuff.
Any other questions?
I know you guys have been very patient, thank you so much for
the evening I appreciate it very much.
[audience applause]
[no dialogue]