Uncommon Advice
Business is a game you have to 'Play to Win' and it's the Uncommon Advice from Experienced Entrepreneurs that helps produce your winning playbook!
Uncommon Advice
Turning Mundane Ventures into Financial Gold
Entrepreneurs often juggle a myriad of challenges, but what if neglecting a few basic principles could lead to huge losses? From thrilling mastermind sessions, I share stories of business owners learning the hard way that staying vigilant over daily operations remains crucial, even when successful delegation is in place. We unravel the art of balancing strategic foresight with hands-on involvement, highlighting the need for unwavering discipline to steer clear of distractions and premature ventures. This episode isn't just about avoiding the pitfalls; it's also about the untapped potential in seemingly "boring" businesses that, with focus and the right approach, can yield impressive financial rewards.
On a more personal note, the journey towards health and fitness takes center stage as I recount my own experience. From my lively days as an active youth to the sedentary phase during college, the story takes a pivotal turn with the news of impending fatherhood. It's a narrative of rediscovery, driven by the aspiration to prioritize fitness, aiming to outlast youthfulness itself. This chapter serves as a heartfelt reminder that health shouldn't be the price we pay for wealth. Join me in setting a positive example, fostering a lifestyle where the benefits of staying active extend beyond physical health, enhancing mental resilience and overall life satisfaction.
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Welcome back to another episode on Common Advice. Excited for this one, I just got back from a mastermind with about 18 guys just diving into each other's businesses. We had some guest speakers, a lot of great info. So I don't know if you're a part of a mastermind or if you take time going to events to just get around people to help you think bigger. If you don't, I highly recommend it. If you do, you know the value, right. So what I want to do real quick is just break down five things, five lessons that I took away from being at this mastermind. So it's things, lessons and just smart ass stuff that people said that really kind of hit home, and so what I want to do is kind of go through those with you on today's podcast.
Speaker 1:So number one this one was really really interesting Don't forget. So it was don't forget to watch your business while you're working on it. You've heard us, you've heard many people say you got to work on your business, not in your business, right, and so a lot of entrepreneurs and business owners really focus on getting to that point and I think they take it as, hey, I'm going to go work on my business, so I got to hire someone, put them in place. I put that person in place. I assume they're doing all the stuff that needs to be done, and then I move forward, right, and so I go focus on working on the business. So this happens very often. So the take that was said there was make sure to watch your business, even while you're working on it was very important because I've been in businesses where I've put someone in place and things weren't going as planned but I was so focused on working on it and I wasn't watching the business and things started falling apart so I had to come back and fix it. We've all got probably know somebody in business that's like man you know so-and-so stole X amount from me, right? I'm fortunate I've never really had that issue in the digital world that I've been in, but I've got friends and business owners that I know that have, you know, been working on their business, forgot to watch it and have lost millions of dollars through that process. So I think it's important to understand the distinction between the two, but I thought this one really, really hit home right Don't forget to watch your business. So yeah, yes, 100%, you got to work on it. There's going to be times you got to work in it too, but no matter what, you always got to be watching it Super important. So you don't want to take the eye off the prize right and just assume everything's getting done.
Speaker 1:So the next thing is the second thing that I think is that was super important and really hit home for me as well, too was know where you want to go and stay disciplined to get there. No-transcript you get an idea, you go work on it and then all of a sudden it may not take off how you want, so you go work on another idea and you never really go all in on kind of one thing and make it scale Right. So if you know exactly what you want and you know where you want to get, you just have to stay disciplined and not do the shiny object syndrome. So discipline looks a lot of different ways in regards to how that is for you, but for me, I've actually done this a few times, where I've always since for not always, but for a long time I've been in the online internet money game and generating businesses leveraging digital media right. So I've bounced from different companies. I've had education company, I've had an agency, I've got a media company, I've got another agency we've launched, we've got a handful of different things that we've done over the years and I have I would definitely say I've probably and I've also done a lot of the side stuff that I've tried to launch up and kick off. And I got to say that I know where I've wanted to go, but I haven't always stayed disciplined along that path. And it's funny. Someone asked me the other day when I was at this meeting was like hey, you know what kind of stuff you working on, or we're just joking about business and whatnot. And I kind of cracked a joke. That was said I just wish I had a really boring business right now. Right, so boring businesses can make really, really good money. But sometimes what happens is we get bored with them so we try and do a bunch of other stuff. So I think that's super important.
Speaker 1:Now, this also doesn't just go for business, this goes for personal. I think I've done a much better job on the personal side, I would say, staying disciplined, than I have on some of the business stuff. That's just me being real with you on it. But the family's always been. I've known what I've wanted and known where I'm going and what I'm doing with that and kind of goals of the family and goals with my life and personal life and fitness and all that, and I've always stayed pretty disciplined along the way. So it goes both ways. So I just want to share that with you. I think that's a great, great insight that we gained from there.
Speaker 1:Now here's one that might raise some eyebrows and I don't know how I feel about it when it was said and I see it as kind of two different ways of looking at it. But the next thing is you can self-proclaim your status in your industry. So some people might call this fake it till you make it, and I think those are kind of two different things. I think you can self-proclaim if you have the experience, but a lot of times people with experience they don't proclaim it at all right. So you see it often in the coaching space, where people are self-proclaiming with no experience. Or you see it in the education space, where they self-proclaiming with no experience. Or you see it in the education space where they self-proclaim with no experience. But I'm talking about self-proclaiming your status when you actually have the experience. You actually know what you're doing.
Speaker 1:I've actually got an example. There's a guy recently I've seen that he was self-proclaiming being this newsletter expert and doing all this stuff and, as you know, in one of our companies we send millions of emails a day and we generate a lot of revenue out of those emails annually. So, with that said, when he started talking about being an expert, I've never really come out. It took me a while probably three years of doing it and sending millions and millions of emails, to come out and say we're experts at it. But at the same time he starts talking about being an expert. He's going to help you do this, help you do X, y and Z Come to find out. He's only got 1,000 subscribers on his newsletter list. Now don't get me wrong. That's a decent amount of subscribers, it's good, it can do well. But if that's the only list you've ever built organic stuff and whatnot but you haven't found a way to scale it yet Like our side of the business where we've got over 3 million subs, right, so subs meaning subscribers. So I think he's self-proclaiming that he's this expert in that space, but he hasn't hit any ups and downs in the business quite yet with those subscribers.
Speaker 1:So you kind of got to be cautious sometimes in how you do this For me. I think you got to have the experience to self-proclaim, but don't be fearful of owning it. I've always, personally in the past, been timid to come out and do some of that stuff, because I know there's, you know, sometimes I feel like I don't know enough, right, no matter how much. I know that I have a conversation with someone that doesn't know anything about our industry. We start talking and going and it helps them out a lot, helps them put that plan in place and all that good stuff. But I think it's you got to be cautious on on how you use that. Don't be fake about it, be real about it. But yeah, you can proclaim your status, right, don't. Don't be afraid to put your you know stake in the sand and draw or draw that line in the sand and say this is who I am and this is how I'm going to help you Right, people got to know. They don't always know, right. So it's the next thing.
Speaker 1:This one was by Jared. We're sitting there having a conversation at dinner and when he said this I'm like, oh, that just makes so much sense, makes so much sense. Replay your greatest hits all the time. And he goes think about it. All these musicians, all these different music artists. What do they do? They sell concerts out decades later, right, rolling Stones did it for a long time, u2 does it. All these different people that do concerts. They play the same songs over and over and people keep coming back and listening.
Speaker 1:So when you equate that to your social media content, man, that is powerful. Right, boom, that just kind of opened your eyes, didn't it? So when you have great hits, we spend a lot of time creating content. We spend a lot of time developing different content pieces, whether it be video, writing, all that other stuff but how often do you replay the ones that do well? How often do you replay those hits? And so, for me, we're going to go back and start pulling some of those hits and start replaying them because they did well the first time. Chances are they do well the second time. And now I'm not saying just, let's say you have a message right, and it hits really well, you can. There's probably five, six, seven different ways that you can tell that story, that you can deliver that message in the same manner. That's actually going to be beneficial and the followers and subscribers are actually going to still gain value from it. So there's different ways you can tell it, so it doesn't always just have to be cut and paste. It can be actually replaying some of those hits in a just little different mechanism, a little different way, right? So I thought that was definitely mind-blowing.
Speaker 1:At the moment, and it's amazing to me when you get into these rooms, there's some things that get said. It's not the most complicated things that get said. You know what's the most? Uh, the most valuable pieces are the one liners and the very valuable things that hit right. So, for example, replay your greatest hits of all time. That's not any massive, crazy insight, but it's very powerful insight. It's not a complicated insight, it's very simple, powerful insight, right? So that's what I find in these rooms. It's those one quick things and the next one, the next one's actually going to hit home. So I don't know about you, but I know fitness is something that's important to me.
Speaker 1:Health and fitness has been. Actually, I spent a lot of time growing up actually working out and I was got into lifting and then I got into power lifting stuff and I played sports and did all that. Then I got real lazy and I went to college and when I got to college I got lazy. I put on, I didn't do the freshman 20, I did the freshman 30 in three months actually, and then I just got super lazy, didn't work out, didn't do any of that and then for about 10 years I did no working out. And then my wife got pregnant with our first son and when she's pregnant with Caden, I decided you know what I need to. I got to get back in shape, right. I got an example to set and ever since then it's been a very important piece to kind of. I took a 10 year, I took a decade off, right. Now I'm back, but it was running.
Speaker 1:Health and fitness is super important and this is why, right, so you don't want to be the oldest guy. He's like, sorry, let me rephrase that you want to be the oldest guy in the gym, not the youngest guy in the nursing home. Think about high-end consulting, working on billion-dollar deals, just giving us great insights. And that was one of the things that he put out there and I'm like holy smokes. Yes, fitness is important to me, but sometimes we just do it because it's for me. I've always done it as health and fitness has been important because one it helps me keep that edge off.
Speaker 1:If I don't work out any right, I tend to get angrier sometimes, so I don't want to be that way. So health and fitness kind of keeps me grounded, keeps my mental, keeps me more focused, keeps just a lot of benefits for me. But long game that's why the long game. That is exactly why because I want to be the oldest guy in the gym, I don't want to be that youngest guy in the nursing game. That is exactly why because I want to be the oldest guy in the gym, I don't want to be that youngest guy in the nursing home.
Speaker 1:So I think that was a very eyeopening insight as well and I wanted to share that with you. Is in the next piece with that is really, I think, to hit that one home is don't sacrifice your health for your wealth, because you'd really be ashamed if you weren't able to enjoy the fruits of your labor. Right? So with that man, this has been another quick episode of the Uncommon Advice. I hope these five insights that I gained from this past couple of days has an impact on you as well. If it does, if something that you like here, do me a favor, kind of bro code, hit that like comment and share it with someone else, because that helps us get the message out.