3 signs you're going to be a successful entrepreneur. — Transcript

Full transcript

1. 0:00So, there's three reasons that
2. 0:02entrepreneurs do not succeed that are
3. 0:05not technical. So, what I mean is this.
4. 0:08I get questions a lot about tactics, and
5. 0:10I have tons of tactics, and I walk
6. 0:11through lots of videos, and you can
7. 0:12watch the other videos for that stuff.
8. 0:14But,
9. 0:15when I talk to entrepreneurs, and I
10. 0:17talked to plenty of them cuz we have
11. 0:18about, you know, we have people come out
12. 0:19every single, you know, week here in in
13. 0:21Vegas.
14. 0:22And and this is to be clear, not small
15. 0:25entrepreneurs. So, we're talking, you
16. 0:26know, 1 million, 10 million, 50 million.
17. 0:28That's kind of the range of the people
18. 0:29who come through uh our headquarters.
19. 0:31So, legit businesses, right?
20. 0:34The things that limit them are not the
21. 0:35tactics they seek.
22. 0:37And so, there are three things that are
23. 0:39that are required to be super successful
24. 0:41in any business.
25. 0:43And the reason that I think most people
26. 0:45cannot do it is because they are
27. 0:46anti-human.
28. 0:48So, who we are. And also, when you see
29. 0:50some of these really successful CEOs and
30. 0:51and and billionaires and whatnot, and
31. 0:52they come off almost robotic,
32. 0:54I don't think they started that way.
33. 0:57I mean, in fact, sometimes if you look
34. 0:58at some of my earlier videos, they I
35. 0:59seem less robotic there than I do now.
36. 1:02Um
37. 1:02that's not it's not on purpose. Um but,
38. 1:05the issue is this,
39. 1:06is that we as humans want new stuff.
40. 1:11We want it now, and we want it to be
41. 1:13easy.
42. 1:15And those three things are actually the
43. 1:17antithesis of what is required in order
44. 1:18to be successful in business.
45. 1:21We need to not do new stuff,
46. 1:23right? We need to keep doing the old
47. 1:25stuff. We need to not pursue shiny
48. 1:27objects, right? That's what focus is.
49. 1:31>> [sighs and gasps]
50. 1:31>> We have to be willing to delay
51. 1:33gratification and not get it now, but be
52. 1:37willing to work now, get no reward, and
53. 1:39hope that we will get something later.
54. 1:43And when we fail, which we inevitably
55. 1:45will along the way, we have to be
56. 1:47willing to continue uh and not question
57. 1:51our original
58. 1:52is it worth it uh to begin this pursuit.
59. 1:56And so, when you back that out, the
60. 1:58three I would say character traits,
61. 2:01which we'll just say behavior patterns,
62. 2:02how you behave in a number of different
63. 2:03conditions,
64. 2:05uh are focus,
65. 2:07you have to be able to do one thing,
66. 2:08patience,
67. 2:10you have to do it for a long period of
68. 2:10time, and frustration tolerance. You
69. 2:12have to be willing to get kicked in the
70. 2:13nuts or the face or whatever in the
71. 2:15gonads. There you go. That's That's
72. 2:16coed.
73. 2:17Um
74. 2:18for extended periods of time.
75. 2:20And so, I I say these things because
76. 2:22when I talk to entrepreneurs, they
77. 2:24always seek the tactics.
78. 2:26But, I can
79. 2:28this is going to sound
80. 2:30I have decent pattern recognition at
81. 2:31this point. I've talked to a lot of
82. 2:32entrepreneurs. And I can usually guess,
83. 2:36I'd say, what range of entrepreneur they
84. 2:38are
85. 2:39by how they behave.
86. 2:43And that's because
87. 2:44all businesses can get very big.
88. 2:46Not all entrepreneurs can get very big.
89. 2:49And it's because they can't stay
90. 2:51focused, they are impatient, they quit
91. 2:54too easily.
92. 2:56And that means that you do not lack
93. 2:57tactics, you lack character.
94. 3:01And I find that to be
95. 3:03really interesting. And so, the question
96. 3:06then comes, okay, well, if that's if
97. 3:07that's what's required, and I don't
98. 3:08think anyone's going to really argue
99. 3:09with me on this. Like, yes, I should be
100. 3:10more focused. Yes, I should be more
101. 3:11patient. Yes, I should be more
102. 3:13long-suffering, enduring, being able to
103. 3:14continue
104. 3:16um
105. 3:16when when things become frustrating. I
106. 3:18don't think anyone's really going to
107. 3:18fight me on this.
108. 3:20So, the question is, how do you do it?
109. 3:22And so, I think
110. 3:25taking a different perspective of
111. 3:27if I were the worst or the most
112. 3:29dangerous competitor, somebody who I
113. 3:31would not want to compete against, what
114. 3:32would that person do in my specific
115. 3:34situation?
116. 3:35And interestingly, when you I think it's
117. 3:38like called third-party bias or there's
118. 3:39some some fancy psychological term. But,
119. 3:41basically, when you when you are not
120. 3:42trying to live your life through your
121. 3:43own eyes,
122. 3:45and you try and give someone else
123. 3:46advice,
124. 3:47you give way better advice than you
125. 3:49follow for yourself. And so, like, why
126. 3:51is this? And I think this is called the
127. 3:52Solomon paradox. There we go. Um
128. 3:55but we give better advice than we adhere
129. 3:59to because we do not have an emotional
130. 4:01tie to the situation.
131. 4:04And I think that that is kind of that
132. 4:05robotic thing that I was referencing
133. 4:06earlier, which is like
134. 4:09as much as Hollywood and the movies
135. 4:11always try to make it seem like, you
136. 4:12know, uh these humans against the robots
137. 4:14and then the humans somehow pull it out
138. 4:16in the end. It's like, no, like, try
139. 4:17have humans go against uh robot and just
140. 4:20and humans lose literally and I would
141. 4:22imagine that in cockpits for, you know,
142. 4:24airplanes, like, humans will lose
143. 4:26against AI, you know, fighter plane
144. 4:28fighter planes, right? Like, it's not
145. 4:30it's not reality to think that we're
146. 4:31going to we're going to win. Like, we do
147. 4:32a memory contest, computers win, right?
148. 4:34And so,
149. 4:36the idea is that um
150. 4:38the things that are that it takes to be
151. 4:39successful in business does not
152. 4:40necessarily make you more human. And so,
153. 4:42I think that is that is kind of like an
154. 4:43interesting notion. Um we have to behave
155. 4:47more logically. Um
156. 4:50and I would say this, if your emotions
157. 4:52encourage you to take an action and that
158. 4:54action is aligned with logic, then
159. 4:56great. But it's not the emotion that
160. 4:58caused it uh to work. It's just that the
161. 5:00logic was was valid and it was just also
162. 5:02aligned with how you felt. But being
163. 5:04able to make the correct decision
164. 5:06independent of how you feel, I think is
165. 5:07where it becomes more difficult. And so,
166. 5:09this is the kind of tactic um that I'll
167. 5:11share with you, which is
168. 5:12um embracing emotional discomfort and
169. 5:16not
170. 5:18making the fact that you were
171. 5:20uncomfortable, in pain, frustrated, have
172. 5:24this feeling, this itch to take action
173. 5:26on something because you feel bad,
174. 5:28because you want to change how you feel,
175. 5:30you feel like you need to change your
176. 5:32business and that in changing your
177. 5:33business, it's going to change how you
178. 5:35feel on the inside. Now, you taking
179. 5:37action often times does alleviate
180. 5:39anxiety, but it doesn't mean that the
181. 5:41action was still correct because it
182. 5:42might take time for us or or for that to
183. 5:44to to play out, right? And so,
184. 5:47while you're while you're in it, you
185. 5:49feel better, but then you look back at
186. 5:50the carnage or the the rubble of of you
187. 5:52breaking your business yet again and and
188. 5:54shifting your team's focus and said,
189. 5:56"Well, they said it was this priority
190. 5:58last week." And then the next week it's
191. 5:59the this next priority, right? It's that
192. 6:01you're constantly whiplashing everyone,
193. 6:03including your customers, which more
194. 6:04realistically looks like very confused
195. 6:06messaging and marketing, which means
196. 6:07that you stand for nothing because no
197. 6:08knows cuz you change your mind all the
198. 6:09time, right? And so, and that's because
199. 6:11you're reading an article or you watch a
200. 6:12video or whatever and it's like, "Ah,
201. 6:13actually that's this is the most
202. 6:14important thing." And so, you you have
203. 6:15to be able to stick with things for an
204. 6:17extended period of time and not start
205. 6:19new projects, um so you can see things
206. 6:21through because fundamentally like
207. 6:23all great things come from doing more
208. 6:26work in a very narrow place that other
209. 6:27people are willing to do.
210. 6:30Super real.
211. 6:32I think about it like, um
212. 6:35surface area of thinking.
213. 6:37How how much time have I given
214. 6:40this idea? How much air? Like how how
215. 6:42many how many coats of paint have I put
216. 6:44over this problem where I walk away and
217. 6:45I come back and look at the paint, make
218. 6:47adjustments, go back, look at the paint.
219. 6:49And the reason I think this is important
220. 6:51is that like over time
221. 6:53you're in different moods, you talk to
222. 6:55different people, you you look at that
223. 6:57painting with different eyes, different
224. 6:59lenses, different perspectives,
225. 7:01different things you're comparing it to.
226. 7:03And the more diverse
227. 7:05the lenses that you look at a solution
228. 7:08through, the more complete and elegant
229. 7:10the the solution will come. And that
230. 7:12only comes from having that many
231. 7:14repetitions over periods of time
232. 7:17on a specific problem. And when I say
233. 7:19specific problem, it doesn't have to be
234. 7:19just a problem in the business, it could
235. 7:20be the business as a problem as a whole.
236. 7:23And
237. 7:24I think that is why the people who are
238. 7:26unfocused do not necessarily win. And to
239. 7:29be clear, this is actually less a
240. 7:30question of intelligence. This is why I
241. 7:32say this is this is a character trait
242. 7:34issue. Like, um
243. 7:36a focused fool will beat a distracted
244. 7:40genius.
245. 7:43Men with focus will beat the men with
246. 7:44intelligence.
247. 7:45Real.
248. 7:47And so,
249. 7:48in thinking about that,
250. 7:50one,
251. 7:51how
252. 7:53can a How can I behave this way? Which
253. 7:55is What would the most dangerous
254. 7:56competitor in my place do? Let's do
255. 7:58that. Number one. Number two, if I feel
256. 8:01an emotion,
257. 8:03am I Is the action I'm taking to try and
258. 8:06make this emotion go away, or is it what
259. 8:09my business needs me to do? And those
260. 8:11are often not the same thing. More often
261. 8:14than not, what you need to do is keep
262. 8:15doing what you were doing, and just let
263. 8:17this
264. 8:18let this emotion pass. Cuz emotions are
265. 8:21like the weather. They come and go.
266. 8:22Right? And so, we have to sometimes just
267. 8:24give give them time, give them space,
268. 8:26acknowledge they exist. Great, I feel
269. 8:28you, and I'm going to continue doing
270. 8:30this thing.
271. 8:31Um
272. 8:33And then finally,
273. 8:34laddering up to those big three, those
274. 8:37big three character traits, patterns of
275. 8:38behavior.
276. 8:41Am I
277. 8:42this this new this second business that
278. 8:44I'm considering, this second revenue
279. 8:45line, this new idea that I have, is it
280. 8:48really required? Is there anything that
281. 8:50that logically stops my existing
282. 8:52business from doing twice as much or
283. 8:53five times as much or 10 times as much
284. 8:55besides the fact that it's quote hard?
285. 8:57I somehow think this other thing is
286. 8:59easier because I haven't done it yet,
287. 9:00but I promise you, it will also be hard.
288. 9:03And so, it's just unknown hard versus
289. 9:05known hard. And so, you just take
290. 9:06unknown hard.
291. 9:09Don't do that.
292. 9:10Like take known hard.
293. 9:13In terms of patience, the patience I
294. 9:15think is um
295. 9:17is giving yourself that surface area of
296. 9:18thinking. Is being able to have
297. 9:21multiple coats of paint over the same
298. 9:23problem and come back and revisiting it
299. 9:25with different perspective and different
300. 9:26eyes.
301. 9:28And then finally, the frustration
302. 9:29tolerance component is
303. 9:31am I able to sit with discomfort
304. 9:35and continue to take the actions that I
305. 9:39thought I should take before my emotions
306. 9:41tried to convince me that they were
307. 9:43inconvenient or incorrect.
308. 9:45And so, um
309. 9:47just something to think about on this
310. 9:48Sunday as I just review the week and I
311. 9:50think about some of the conversations I
312. 9:51had with different entrepreneurs and how
313. 9:54almost none of them They were all
314. 9:55seeking tactics, but what they really
315. 9:57needed were traits. They needed to
316. 9:59change the way they acted in their
317. 10:01business because it didn't matter what
318. 10:02tactics I provided, they were never
319. 10:04going to scale because they are not the
320. 10:07type of person who can.
321. 10:10So, yeah.
322. 10:11Happy, uh, whatever day you're watching
323. 10:13this on. Rock and roll. Bye.
324. 10:15If you like this video and you're
325. 10:16business owner who wants to break
326. 10:17through your current revenue ceiling, I
327. 10:19distilled every lesson from scaling 10
328. 10:20businesses past 10 million and three
329. 10:22businesses past 100 million into a
330. 10:24completely free scaling road map that
331. 10:26I've used to go from zero to one, zero
332. 10:27to 10, and zero to 100 plus. And so, you
333. 10:29can click here and you can check it out.
334. 10:31Again, absolutely free. And since you're
335. 10:32business owner, appreciate you and, uh,
336. 10:34enjoy.