The Inventive Journey: Recent Episodes
Devin Miller
The registered trademark symbol looks tiny, but for business owners it carries far more weight than a normal keyboard character.
In this episode, we break down how to type the ÂŽ symbol on Windows, Mac, iPhone, iPad, and Android, plus the more important question: when are you actually allowed to use it?
Youâll learn the most common shortcuts, reliable mobile workarounds, and the difference between ÂŽ, â˘, and â . We also cover one of the most common mistakes founders make: assuming that filing a trademark application means they can immediately start using the registered trademark symbol. It does not.
For Windows users, we explain the classic Alt plus 0174 shortcut. On Mac, we cover Option plus R and how Character Viewer can help when keyboard layouts behave differently. For iPhone and iPad users, we look at text replacement as a practical shortcut. On Android, we discuss symbol menus, keyboard differences, and why there is no single shortcut that works perfectly across every device.
Then we move beyond typing.
A registered trademark symbol is a notice. In the United States, it communicates that the mark has federal registration status. That is different from simply claiming trademark rights. Businesses can often use ⢠or â before registration, but ÂŽ should be reserved for marks that are actually registered.
We also discuss why âregisteredâ does not mean âI own this word everywhere.â Trademark rights are connected to a specific mark and specific goods or services. A software company with a registered name does not automatically control that same word in every unrelated category. Context and scope matter.
Another practical question is whether ÂŽ needs to appear after every mention of a brand. Usually, that is not the best approach. Repeating the symbol constantly can make clean marketing copy look like it caught a case of legal punctuation. A better strategy is to create brand guidelines explaining where the symbol should appear, how the mark should be written, and which logo versions are approved.
That matters because trademark use is not just a legal-team issue. Marketing, sales, product, design, web development, agencies, distributors, and vendors may all touch the brand. If each group handles trademark notices differently, inconsistency spreads fast.
We also explore business hazards, including using ÂŽ before registration, assuming one registration covers every product or service, failing to track registration maintenance, and believing that the symbol itself somehow enforces the brand.
Spoiler: it does not.
A trademark symbol can communicate rights, but it cannot monitor competitors, renew registrations, update packaging, fix old website files, or send a thoughtfully stern letter on your behalf. Brand protection still requires strategy, process, and judgment.
The episode also tackles several trademark myths. No, a pending application does not equal registration. No, registering a mark does not grant universal ownership of a word. No, you usually do not need ÂŽ after every occurrence. And no, inaccurate use should not be treated as a harmless branding shortcut.
For founders and small business owners, the real lesson is bigger than memorizing Alt plus 0174 or Option plus R. Trademarks are business assets. They can influence branding, marketing, licensing, expansion, investor diligence, acquisitions, and competitive positioning. Trademark decisions belong inside a broader intellectual property strategy.
If your company has a valuable name, logo, slogan, product identity, or service brand, this episode gives you a practical framework for understanding what the registered trademark symbol means and how to use it more intelligently.
Youâll leave knowing the shortcuts, the distinctions, the common mistakes, and the bigger strategic questions to ask before your team starts dropping ÂŽ into every deck, webpage, and piece of packaging it can find.
To chat about this one-on-one, grab a free consult at strategymeeting.com
In this episode of The Inventive Journey, Devin Miller talks with Abbas Mohammed about cold calls, persistence, remote hiring, AI, and business focus that keeps founders from becoming full-time firefighters with laptops.
Abbasâs story starts at 19, when he dropped out of college to pursue real estate. That decision sounds bold in hindsight, but it came with the classic startup starter pack: uncertainty, long hours, rejection, and a calendar that probably needed medical attention. He spent about a year making calls, working long days, and pushing through before landing his first real transaction.
That first win opened the door to growth. Abbas began scaling his real estate business by hiring virtual assistants, eventually growing a larger team of cold callers. By increasing outreach capacity, he multiplied activity without personally doing every single task. That helped him grow substantially and become one of the top RE-MAX agents at a young age.
But real estate also exposed a limitation: geography. Abbas saw that his growth was tied to local markets and location-based constraints. That realization pushed him toward a new opportunity. He started Remote Leverage, first as a cold calling agency for real estate agents, then pivoted into a recruiting model focused on helping businesses hire Latin American virtual assistants and skilled remote talent.
The Remote Leverage model focuses on direct hiring rather than a traditional staffing-agency structure. Abbas explains how this gives small businesses access to capable remote workers while keeping costs lower than many local hiring options. He also highlights why Latin American talent can be attractive for U.S. businesses: similar time zones, strong communication, and collaboration during normal business hours.
A major theme is quality. Abbas is not arguing that founders should hire the cheapest possible help. His point is that the right remote talent can create leverage when the business has clear roles, expectations, and systems. Cheap support without structure can become expensive confusion. Good support with clear direction can become a growth engine.
Devin and Abbas also discuss AI and its impact on virtual assistants. Abbas shares that AI has helped his company increase productivity and revenue, but he does not view AI as a complete replacement for human talent. Instead, AI changes the nature of the work by supporting research, summaries, workflows, and faster execution. Human judgment, communication, accountability, and problem-solving still matter.
The episode also explores business decision-making. Abbas talks about testing ideas, learning from failed experiments, and recognizing when client expectations do not match reality. One lesson involved marketing ROI timelines. Clients sometimes expected results faster than Abbas anticipated. That kind of lesson is painfully useful, which is entrepreneur-speak for âwe learned it after the invoice was already emotionally complicated.â
Near the end, Abbas shares one of his clearest rules of thumb for founders: focus on the bottleneck. Many entrepreneurs chase too many initiatives at once. They add products, tools, campaigns, hires, and meetings without first identifying the one constraint most limiting growth. Abbas recommends finding that bottleneck and solving it before scattering attention across everything else.
For startup founders and small business owners, this episode offers a practical scaling playbook: talk to the market, do the hard work early, delegate repeatable tasks, hire for quality, use AI as a productivity multiplier, and keep asking what is actually holding the business back.
Abbas Mohammedâs journey from cold calls to Remote Leverage is a reminder that business growth is rarely about one magic tactic. It is about learning the work, creating leverage, adapting the model, and refusing to let the founder become the bottleneck.
To chat about this one-on-one, grab a free consult at strategymeeting.com
A trademark can become one of the most valuable assets a business owns. It may represent reputation, customer trust, market recognition. But registration is not the end of the process. To keep it active, the owner must meet maintenance deadlines, continue using the mark properly, and ensure the official record reflects the real business.
In this episode, we explain how often trademarks must be renewed, why the answer depends on the jurisdiction, and which deadlines owners often miss.
In the United States, federal trademark registrations generally follow a ten-year renewal cycle. However, there is a critical maintenance filing due between the fifth and sixth anniversaries of registration. This filing confirms that the mark is still being used for the goods or services listed in the registration.
A business cannot simply circle the tenth anniversary on a calendar and ignore everything in between. Missing the fifth-to-sixth-year filing can cause the registration to be canceled before the first renewal deadline arrives.
Between the ninth and tenth anniversaries, the owner generally files a combined Section Eight and Section Nine submission. The Section Eight portion confirms continued use, while the Section Nine portion renews the registration for another ten-year term. After that, the process repeats every ten years.
We also examine international schedules. The European Union, Canada, Australia, and registrations managed through the Madrid System generally use ten-year renewal periods. Even when the cycle is similar, filing windows, fees, evidence requirements, and grace periods can differ.
One important correction for anyone relying on older articles: Canadian trademark renewals are now generally handled in ten-year periods, not fifteen-year periods. Outdated information can create expensive planning mistakes for global portfolios.
This episode explains why renewal should be treated as a brand audit rather than a routine payment. Before filing, the owner should confirm the legal owner, review the listed goods and services, collect current evidence of use, verify licensing relationships, and identify products or services that are no longer sold.
We discuss common hazards, including filing under the wrong business entity, claiming use for discontinued goods, relying too heavily on grace periods, paying misleading private notices, and overlooking related international registrations.
A trademark can potentially remain protected indefinitely. A registration may continue through repeated renewal periods as long as the owner meets the legal requirements and the mark keeps functioning as a source identifier.
The episode covers a practical maintenance process. Start with the official registration date. Record every filing window and grace period. Assign responsibility to a specific person or team. Save prior submissions and specimens. Review ownership after mergers, conversions, or acquisitions. Build reminders early enough to solve problems before the deadline becomes an emergency.
For starup founders and small business owners, this matters because a missed renewal can affect far more than a certificate. It can complicate licensing, fundraising, franchising, enforcement, due diligence, acquisitions, and expansion. A lapse may also create opportunities for competitors and increase the cost of rebuilding protection.
The central takeaway is simple: in many major jurisdictions, trademarks generally renew every ten years, but U.S. owners must also remember the filing between years five and six.
A strong brand deserves more than a sticky note and good intentions. It deserves a reliable maintenance system.
Listen to learn how trademark renewal works, which deadlines matter most, and how to keep a valuable brand from becoming an avoidable legal problem.
To chat about this one-on-one, grab a free consult at strategymeeting.com
In this episode of The Inventive Journey, Devin Miller interviews Sergey Korolev about a founder path that refuses to stay in one lane. Sergeyâs story begins with robotics engineering at Bauman Technical University in Moscow, includes competitive water polo, moves into enterprise automation, and then grows into Just Food, a meal kit and delivery business that reached roughly $10 million in annual revenue over about six years.
Just Food was not a cute side project with a logo and three inspirational quotes taped to a wall. It was a real operating business with logistics, customer expectations, influencer marketing, engineering demands, and the daily joy of discovering that food delivery is simple only when someone else is doing it. Sergey and his team grew the company in Russiaâs health and fitness market, learning how to build systems, manage pressure, and turn a real customer need into a scaling company.
Then the environment changed. Sergey explains how geopolitical constraints made it difficult to build the kind of global company he wanted from Russia. He eventually moved to Portugal and stepped away from running the food tech company. That transition forced a bigger founder question: after building one successful company, what comes next?
Sergey did not want to simply recreate the same model in a different wrapper. He wanted a company that could be global from the beginning, a category with meaningful technical depth, and an engineering partner who could bring serious domain expertise. That search led him into mobile application security and to the creation of Oversecured.
Oversecured helps enterprises find vulnerabilities in mobile applications. The company focuses on a problem that is becoming harder for businesses to ignore. Mobile apps are not just tiny brand brochures anymore. They handle authentication, payments, private data, location, workflows, and connections to backend systems. When mobile security is treated as an afterthought, the risks can become very real, very fast, and very unpleasant for everyone except the attacker.
In the conversation, Sergey also shares one of his toughest founder lessons: underestimating emotions in negotiations. Founders often want to believe that business conflict is rational because there are contracts, spreadsheets, and people using phrases like âalignment.â But negotiations are full of pride, fear, trust, control, timing, and incentives. Ignoring the emotional side can turn a business disagreement into an expensive lesson with legal paperwork attached.
Sergeyâs advice to founders is memorable: act more and think less. The point is not to be careless. The point is to stop mistaking private overthinking for progress. Startups learn by testing, selling, shipping, listening, and adapting. A founder who takes action creates feedback. A founder who only plans creates prettier uncertainty.
This episode is especially useful for startup founders and small business owners thinking about pivots, market constraints, cofounder selection, enterprise sales, or how to build after a previous chapter ends. Sergeyâs journey shows that a pivot is not automatically a failure. Sometimes it is the most honest response to what the market, the world, and your own ambition are telling you.
Listen for a conversation about reinvention, global company-building, cybersecurity, zero-day vulnerabilities, negotiation mistakes, and why the founder path often looks obvious only after you have already survived it.
You will also hear how Sergey approached the zero-to-one stage differently the second time around. His criteria were clearer: build with the right technical partner, avoid regional limitations, and choose a market where deep expertise could become a durable advantage. That is useful perspective for any founder who has outgrown one chapter but has not yet named the next one.
To chat about this one-on-one, grab a free consult at strategymeeting.com
In this Inventive Journey episode, Devin Miller talks with Justin Roopnarine about a career path that moved from electrical engineering to software, from the Air Force to finance, and eventually into fund management. It is the kind of founder journey that proves entrepreneurship rarely follows a clean straight line. Sometimes the useful path looks more like a wiring diagram, a flight plan, and an investment thesis walking into the same room.
Justinâs story gives founders a practical look at how different disciplines can compound. Engineering taught him how to break problems apart, study systems, and solve for constraints. The Air Force added structure, responsibility, mission focus, and the ability to operate under pressure. Finance added a respect for uncertainty, risk, and the reality that a smart thesis still needs disciplined execution.
One of the biggest lessons from the conversation is that founders need to make ideas concrete. It is not enough to have a brilliant concept living rent-free inside your head. Your team cannot execute what they cannot understand. Your customers cannot buy what they cannot explain. Your investors cannot support a thesis that sounds like it was assembled during a caffeine emergency. Clarity is not cosmetic. It is infrastructure.
This episode also explores why risk management matters for every startup, not just finance companies. Founders take risks constantly: hiring, product development, marketing, fundraising, partnerships, pricing, legal protection, and customer promises. The question is not whether risk exists. The question is whether the founder knows which risks are being taken, how large they are, and what the company will learn from them. Otherwise, âmoving fastâ can become a very expensive way to collect avoidable mistakes.
Justinâs fund-management perspective is especially useful for entrepreneurs because it reframes risk as something to design rather than fear. Smart operators do not avoid every uncertain move. They size the bet, define the hypothesis, track the outcome, and keep the business alive long enough to learn. That mindset applies whether you are managing capital, launching a product, or deciding whether one loud prospectâs feature request deserves three months of engineering time.
Devin and Justin also discuss the human side of building. Founder time is limited, attention is limited, and personal bandwidth is not a magical renewable resource that appears after the next funding round. Justinâs emphasis on protecting important personal commitments is a useful reminder that sustainability is not separate from performance. A founder who burns out does not become more strategic. They just become a bottleneck with calendar invites.
The conversation is especially helpful for startup founders, small business owners, emerging fund managers, technical founders, veteran entrepreneurs, and anyone trying to turn complex expertise into a business others can understand. It is also a strong reminder that your unusual background may be one of your biggest advantages. The point is not to have a perfect resume. The point is to build a skill stack that helps you see problems differently and act with discipline.
Listeners will walk away with practical lessons on simplifying complex ideas, documenting assumptions, managing downside risk, building clearer operating systems, and protecting the time needed to make better decisions. They will also hear why the founderâs job is not merely to be the smartest person in the room. It is to make the room smarter by communicating clearly enough that everyone can move in the same direction.
If you are building a startup and your strategy currently exists only in your head, this episode may gently tap you on the shoulder with a whiteboard marker. Write it down. Simplify it. Test it. Share it. Then build systems that let the business grow beyond founder translation.
To chat about this one-on-one, grab a free consult at strategymeeting.com
A new hair product can feel like magic in a bottle, but the business side needs more than hope, foam, and a confident launch post. This episode-style breakdown explores how founders can think about patenting a hair product the smart way, especially when the invention includes a formula, applicator, treatment method, packaging feature, device, or manufacturing process.
The big idea is simple: a patent does not protect the vague dream of âbetter hair care.â It protects a specific technical invention. That distinction matters. A founder may have a product customers love, but the patent question is whether the invention is new, useful, and non-obvious compared with what already exists. In other words, the market may clap, but the patent examiner still wants receipts.
We cover why the first step is identifying the real invention. Is the product a unique composition? Does it stabilize an active ingredient? Does it reduce breakage in a measurable way? Does it deliver treatment to the scalp differently? Does the applicator control dosing, movement, or coverage better than existing tools? The more clearly the invention is defined, the better the strategy becomes.
We also look at prior art searches, which are less glamorous than packaging design but far more useful when copycats appear. Prior art can include patents, published applications, scientific articles, product disclosures, competitor materials, and technical references. Searching early helps founders avoid expensive surprises and refine what they should actually claim.
The conversation also compares patents with trade secrets. A patent can create exclusionary rights, but it requires disclosure. A trade secret can protect valuable know-how, but only if the information stays secret. For hair products, the best answer may depend on whether competitors can reverse engineer the formula, whether the key advantage lives in the manufacturing process, and whether confidential information is properly controlled.
We also discuss common hazards: launching before filing, sharing samples without confidentiality, assuming trendy ingredients are automatically patentable, ignoring ownership with chemists or manufacturers, and filing claims that are either too narrow to matter or too broad to survive. Beauty founders have enough chaos without turning intellectual property into a legal detangling brush.
Layered protection matters too. A patent may cover the technical invention, but trademarks can protect the brand name, copyrights can protect original marketing materials, and contracts can help control confidential information shared with labs, vendors, retailers, influencers, and partners. No single tool protects the entire business. A founder needs the legal equivalent of a good hair-care routine: more than one product, used in the right order, before things get tangled.
The episode also explains why documentation matters. Formula versions, testing data, prototype photos, lab notes, supplier communications, and dates can help show how the product developed. Those records may also clarify who contributed what, which is especially important when outside chemists, manufacturers, or consultants are involved. Ownership confusion is not charming. It is expensive.
For startup founders, beauty entrepreneurs, product developers, salon innovators, and small business owners, this is a practical guide to protecting the invention before the market gets frizzy. The smartest founders do not wait until the product is already copied. They evaluate protection before the launch, before the pitch, and before the suspiciously similar competitor shows up with a bottle that looks like it borrowed your homework.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Can you get an international patent? Not exactly, and that surprise has caused more founder confusion than a cap table spreadsheet named âfinal-final-real-version.â
This episode breaks down why there is no single worldwide patent and why that matters for inventors, startups, and small business owners. Patents are territorial. A patent granted in one country generally protects rights in that country, not everywhere your product might be sold, copied, manufactured, licensed, or admired by competitors with suspiciously good timing.
The episode explains the Patent Cooperation Treaty, commonly called the PCT, in plain business language. A PCT application is often called an international patent application, but it does not grant international patent protection. Instead, it gives applicants a centralized filing route and more time to decide where they want to pursue patents later. It is a strategy tool, not a worldwide force field.
Listeners will learn why the PCT can be valuable for startups that are still testing markets, raising capital, choosing manufacturing partners, or deciding where competitors are most likely to appear. That extra time can be useful, especially when the company is still figuring out whether âglobal expansionâ means Europe, Asia, or just finally shipping outside Utah.
We also cover national phase decisions, which are where the real country-by-country choices happen. Eventually, founders must choose jurisdictions, pay filing fees, handle translations where needed, work with local patent professionals, and respond to patent offices that may each see the invention differently. One examiner may nod approvingly. Another may treat your claims like they personally offended breakfast.
The conversation also highlights why filing everywhere is usually not the smartest default. International patent protection can get expensive fast. Filing fees, attorney fees, translations, maintenance fees, and enforcement costs can pile up. A bigger filing map is not automatically a better business strategy.
At the same time, filing too narrowly can create risk. If a company ignores key sales markets, manufacturing countries, competitor hubs, or licensing territories, it may lose leverage later. The goal is not to chase every country. The goal is to identify the countries where patent rights support revenue, partnerships, investment, manufacturing control, or competitive defense.
This episode also looks at common myths. A PCT application is not a worldwide patent. A domestic patent does not automatically stop foreign copying. A patent portfolio should not be built like a souvenir collection. And no, public disclosure is not made safe by adding âdo not stealâ to a slide deck.
Founders will walk away with a clearer way to think about international patent strategy. Start with the business model. Identify where the invention will be sold, made, licensed, challenged, or copied. Then decide whether a PCT application, direct foreign filings, regional filings, or a focused domestic approach makes the most sense.
The key lesson is simple: international patents do not exist, but international patent strategy absolutely does. That strategy can help protect market opportunities, support investor conversations, increase licensing value, and reduce expensive mistakes.
If you are building something with cross-border potential, this episode will help you understand the difference between patent mythology and practical planning. Bring your invention, your market assumptions, and your budget spreadsheet. Leave the imaginary worldwide patent at home, preferably next to the imaginary unlimited legal budget. The founders who win tend to make informed, selective, deadline-aware choices before launches, pitches, demos, manufacturing deals, and licensing talks create problems that are much harder to fix.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Can an ordinary word become a trademark? Yesâand that answer is more useful, more nuanced, and slightly more dangerous than it sounds.
This episode-style breakdown explores how common words can become powerful brand assets when they identify the source of goods or services instead of merely describing what a business sells. A word like âappleâ can be an everyday fruit in one context and a major technology brand in another. That does not mean a company owns the word everywhere. It means trademark protection depends on context, consumer perception, and consistent brand use.
We walk through the difference between generic, descriptive, suggestive, arbitrary, and fanciful marks. Generic terms name the product category and cannot function as trademarks. Descriptive terms directly explain a feature, purpose, quality, or ingredient and may be harder to protect. Suggestive marks are different. They hint at an idea but require a little imagination from the customer. That extra mental step can make a brand name more distinctive and more defensible.
For startup founders and small business owners, this matters early. A name that sounds obvious in a meeting may become a legal headache later. A business might choose a descriptive name because it feels clear, only to discover that it is difficult to register, difficult to enforce, or already surrounded by competitors using similar language. On the other hand, a suggestive name can create a stronger identity while still giving customers a useful clue about the brand.
The conversation also covers common mistakes: assuming domain availability means trademark availability, thinking registration equals total ownership of a word, ignoring common-law rights, and picking a name before checking whether customers may confuse it with another business. Trademark law is not about who had the best brainstorming session. It is about whether a mark identifies a source and whether another use is likely to confuse consumers.
You will also hear why over-enforcement can backfire. Owning a trademark does not give a company control over every ordinary use of a word. Competitors can often use descriptive language fairly. Smart trademark strategy protects the brand without trying to annex the English language like a caffeinated empire.
We also look at why suggestive marks often become the practical middle ground. Made-up words can be strong, but they may require more marketing investment because customers have to learn what they mean. Descriptive names can be easy to understand, but they may be too weak to protect. Suggestive names sit between those extremes. They give the market a clue while still acting like a brand.
That balance can save money, reduce confusion, and support long-term growth. A strong mark can make it easier to build recognition across websites, packaging, social media, ads, sales conversations, investor decks, and customer referrals. A weak mark can create friction in every one of those places. Nobody wants to discover that the brand name printed on the booth banner is also being used by three competitors and one suspiciously enthusiastic Etsy shop.
By the end, you will have a practical framework for reviewing your own name before you fall in love with it too hard.
The key takeaway: ordinary words can become extraordinary trademarks when they are used creatively, consistently, and strategically. The strongest names are not always the most literal. They are the ones that customers remember, competitors cannot easily copy, and the business can grow with over time.
This is a practical listen for founders choosing a company name, teams preparing to launch a product, marketers building brand identity, and business owners wondering whether their âsimpleâ name is legally strong enough to protect.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Your trademark can last a very long time. Potentially forever. But, like a houseplant, a customer relationship, or the office printer that only works when spoken to respectfully, it needs care.
This episode breaks down the question every founder eventually asks: how long does a trademark last? The answer is both encouraging and slightly paperwork-flavored. In the United States, a federal trademark registration can continue indefinitely if the owner keeps using the mark in commerce and files the required maintenance and renewal documents on time.
That is the good news. The less glamorous news is that a trademark registration is not a trophy you place on a shelf forever. It has deadlines, use requirements, and renewal windows. It also has a talent for becoming a problem right when your business is busy launching, raising money, hiring people, or discovering that the website footer still says copyright twenty nineteen.
In this episode, we explain why trademarks are different from patents. Patents have fixed terms. Trademarks are connected to marketplace identity. If customers still associate your mark with your goods or services, and you maintain the registration, protection can continue decade after decade.
We also cover the major U.S. trademark maintenance windows business owners should know. After registration, owners usually need to file a declaration of continued use between the fifth and sixth year. Then, between the ninth and tenth year, renewal and maintenance documents are typically due. After that, renewals continue every ten years.
We dig into what âuse in commerceâ actually means. A trademark needs real commercial use connected to the goods or services in the registration. For products, that could include packaging, labels, product pages, or point-of-sale displays. For services, it might include websites, proposals, ads, or booking pages.
We also talk about abandonment, which is the legal version of your brand wandering off into the woods. If a business stops using a mark and has no intent to resume use, the mark can become vulnerable. Three consecutive years of nonuse can become strong evidence of abandonment under U.S. law. That is why âwe might bring it back somedayâ is not a great trademark strategy unless there is a real plan behind it.
Monitoring is another major topic. Registering a trademark does not mean the government automatically enforces it for you. The USPTO does not patrol the marketplace with a tiny badge and a suspiciously well-organized spreadsheet. Trademark owners usually need to watch for confusingly similar brands, copycats, partner misuse, and signs that consumers are getting confused.
The episode also explains why enforcement should be strategic. Not every similar word deserves a legal battle. Smart trademark enforcement looks at similarity, related goods or services, customer overlap, actual confusion, market impact, and business goals. Sometimes the right move is a letter. Sometimes it is a coexistence agreement, takedown, or litigation.
For founders and small business owners, the practical takeaway is simple: treat trademarks like active business assets. Calendar deadlines early. Save proof of use. Review registrations annually. Keep ownership records clean. Update goods and services when the business changes. Monitor the market. Use the mark consistently. And please, do not rely on memory as your legal operations system. Deadlines love disguises.
This episode is especially useful for sta
rtup founders, small business owners, marketing leaders, brand managers, product companies, service businesses, franchise operators, and anyone who has ever said, âWe registered the name, so weâre good forever, right?â
Your trademark is more than a name. It is the symbol customers remember, the asset competitors notice, and the brand signal investors may evaluate. Protect it like it matters, because it probably does.
To chat about this one-on-one, grab a free consult at strategymeeting.com
AI-generated images are no longer a futuristic party trick. They are sitting inside marketing departments, startup pitch decks, agency workflows, website headers, product mockups, and social media calendars. The visuals are fast, cheap, and often surprisingly polished. They can also be legally awkward, because the phrase âthe robot made itâ does not automatically protect a business from copyright, trademark, trade secret, or publicity-rights problems.
In this episode-style breakdown, we explore the question every founder, creator, and marketing team should ask before publishing AI visuals: can AI-generated images infringe intellectual property?
The answer is yes, sometimes. An AI image may create copyright risk if it reproduces protected expression from an existing illustration, photo, character, poster, or design. It may create trademark risk if it looks too similar to a known logo, product package, mascot, icon, or brand identity. It may create trade secret risk if someone uploads confidential business information, invention drawings, customer files, unreleased screenshots, or private design concepts into a tool without checking the terms. It may also create publicity-rights risk if it imitates a real person in a commercial context.
The episode also explains the ownership problem. In the United States, copyright generally requires human authorship. That means raw AI-generated output may not receive strong copyright protection unless a person contributed meaningful creative control through selection, editing, arrangement, or transformation. For businesses, that creates a strange situation: an AI image can be risky enough to trigger a claim, yet not human-authored enough to become a strong company asset. That is the robot art lawyer problem, and yes, it deserves its own tiny briefcase.
We walk through practical steps businesses can take right now. Start by defining the use case. Internal brainstorming images are not the same as logos, paid ads, product packaging, investor materials, or website hero graphics. The more public and commercial the use, the more review it deserves.
Next, avoid prompts that intentionally target protected material. Do not ask for famous characters, living artistsâ styles, competitor logos, celebrity lookalikes, branded packaging, sports team designs, or movie-scene replicas. Describe the visual qualities you want instead: clean, modern, playful, technical, blue-toned, founder-friendly, polished, or minimal. Let the robot understand the vibe without handing it a lawsuit starter kit.
Review outputs before publication. Look for confusingly similar marks, recognizable characters, hidden logos, fake watermarks, copied-looking compositions, celebrity-like faces, and anything that seems too familiar. Reverse image search can help, but it is not perfect. Human review still matters.
The discussion also covers confidential information. Trade secrets depend on reasonable secrecy efforts. Uploading unreleased product drawings, patent figures, client materials, or internal strategy files into an unapproved AI tool can weaken those efforts. The prompt box is not always a vault. Sometimes it is more like a very talented toaster with a memory.
Finally, we talk about policy. Businesses do not need to panic, but they do need guardrails. Approved tools, banned prompt categories, confidentiality rules, documentation habits, human-editing requirements, and legal review triggers can make AI image use faster and safer. The robot can sketch. The humans should approve.
This topic matters because AI creativity is not slowing down. The companies that win will not be the ones that ignore AI or the ones that let everyone prompt recklessly. The winners will use AI thoughtfully, document human creativity, clear brand-critical assets, and protect confidential information before it becomes a problem.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Trademark cancellation is the part of brand protection nobody wants to think about, right up until it becomes the entire meeting agenda.
In this article-style episode description, we break down why even a registered trademark can lose protection. The big idea is simple: a trademark registration is powerful, but it is not permanent magic. It has to be used, maintained, documented, and protected like the business asset it is.
A trademark can become vulnerable when the owner stops using it, files inaccurate maintenance documents, lets the mark become generic, misrepresents the source of goods or services, or claims protection that does not match actual business activity. In other words, the certificate matters, but what happens after registration matters just as much.
For founders and small business owners, the risk often comes from ordinary business changes. Maybe the company pivots. Maybe a product line gets paused. Maybe the brand team updates the logo six times and forgets to tell legal. Maybe the registration still lists goods or services the company no longer offers. None of that automatically destroys a trademark, but it can create weak spots.
This discussion also explains why trademark use needs to be consistent. Your website, invoices, product pages, app listings, packaging, sales decks, and social profiles should tell the same brand story. If your trademark evidence looks like it was assembled by five departments during a caffeine shortage, defending the registration may become harder than it needed to be.
We also cover genericness, one of the stranger âsuccess problemsâ in trademark law. If the public starts using your brand name as the name of the product itself, that fame can become dangerous. A trademark should identify one source, not become the lazy shorthand for an entire category. Great for recognition. Terrible for legal sleep quality.
The article also updates an older misconception about âoffensiveâ trademarks. Modern U.S. law changed significantly after Supreme Court decisions involving disparaging, immoral, and scandalous marks. So the better business focus is not simply whether a mark bothers people, but whether it is generic, deceptive, abandoned, fraudulent, confusing, functional, improperly maintained, or failing to function as a trademark.
The practical takeaway is not panic. It is process. Keep proof of use. Review registrations during rebrands, product launches, funding rounds, acquisitions, and major pivots. Delete goods or services that are no longer in use when appropriate. Monitor competitors. Correct generic use. Treat your trademark like a living asset instead of a framed certificate collecting dust next to the office snack cabinet.
This matters because cancellation risk can affect launches, licensing, investor diligence, enforcement, settlements, and rebrands. A competitor blocked by your registration may look for reasons to challenge it. A cleaner, better-documented trademark portfolio gives your business more leverage and fewer unpleasant surprises.
If you own a registered trademark, plan to file one, or are wondering whether your current brand protection is as strong as it looks, this piece gives you a practical starting point. It explains the legal risks in plain English, with just enough humor to make trademark maintenance feel slightly less like alphabet soup wearing a tie.
Your brand name may be valuable. It may be the thing customers remember, investors recognize, and competitors quietly envy while pretending not to. But value without maintenance is fragile. A strong trademark strategy is not just filing paperwork once; it is building habits that keep the brand name tied to real commercial use. Your brand name may be valuable. Make sure the registration supporting it is accurate, active, and defensible.
To chat about this one-on-one, grab a free consult at strategymeeting.com
A U.S. trademark is valuable, but it does not automatically protect your brand around the world. That is the big lesson in this article on international trademark protection, and it catches many founders and small business owners by surprise.
In the United States, a federal trademark registration can support enforcement, licensing, investor diligence, marketplace complaints, and brand credibility. But trademark rights are generally territorial. Your U.S. registration usually protects you in the United States, while other countries and regions have their own trademark systems, rules, fees, deadlines, and enforcement standards.
For a business planning to sell internationally, manufacture abroad, launch ecommerce campaigns, franchise, license, distribute products, or attract overseas customers, this matters quickly. A brand can become visible in another market long before the founder has thought through trademark protection there. Unfortunately, copycats, competitors, opportunistic distributors, and local filers may notice that visibility too.
The article explains two common paths for protecting a trademark internationally. One path is filing directly in individual countries or regions. This can be useful when a company needs a customized local strategy, expects objections, or wants local counsel involved from the beginning.
The second path is the Madrid Protocol, a centralized filing system that allows eligible trademark owners to seek protection in multiple member jurisdictions through one international application. It can be efficient, but it is not a single worldwide trademark. Each designated country can still examine the mark under its own laws and issue refusals, oppositions, or limitations.
That distinction is important. Many business owners hear âinternational filingâ and imagine one magical global certificate arriving with a tiny legal marching band. Reality is more practical. Madrid can simplify parts of the process, but it does not erase local trademark law.
The article also walks through a step-by-step strategy. First, identify where the brand actually matters. Where are the customers? Where are products made? Where are distributors or licensees located? Where is expansion realistic? Filing everywhere can waste money, but filing nowhere can leave the business exposed.
Third, conduct searches before entering new markets. Look for identical marks, similar marks, translations, phonetic equivalents, related goods and services, and local-language issues. A name that works beautifully in English might be unavailable, descriptive, confusing, or accidentally hilarious somewhere else.
Fourth, choose the right filing route. Direct country filings and Madrid-based filings both have advantages. The right choice depends on budget, timing, geography, risk tolerance, and the companyâs growth plans.
The article also highlights practical business hazards. Foreign copycats may file first. Manufacturers or distributors may try to claim local rights. Translation issues can create unexpected problems. Madrid filings may still face refusals. Maintenance deadlines can be missed.
The overall message is not that every company should immediately file in every country. That would be expensive, unnecessary, and a great way to make your legal budget do cardio. International trademark protection should match the business strategy.
For founders and small business owners, the best first move is to prioritize. Focus on countries tied to revenue, manufacturing, distribution, franchising, licensing, investor expectations, or realistic expansion. Then decide whether direct filings, Madrid filings, or a mix of both makes sense.
Your U.S. trademark is a strong start. But if your brand is crossing borders, your trademark strategy should cross borders too. Give the brand a passport before it gets stopped at customs by a competitor with better paperwork.
To chat about this one-on-one, grab a free consult at strategymeeting.com
In this episode-style breakdown, we unpack the trademark opposition period: the short window after a trademark application is published when another party can object before registration. It sounds like a tiny procedural detail. It is not. For founders, small business owners, creators, agencies, product companies, and growing brands, this window can affect launch timing, registration strategy, investor confidence, and whether your shiny new brand name survives contact with reality.
In the United States, the trademark opposition period is generally 30 days after publication in the USPTO Trademark Official Gazette. That means a trademark being approved for publication is not the same as being registered. It means the examining attorney has cleared the application for public notice, and now third parties get a chance to speak up if they believe registration would damage them.
We explain why that matters in normal business language, not âsomeone fell asleep in a law libraryâ language. The most common reason for opposition is likelihood of confusion. Another business may claim that your mark is too similar to theirs because of the name, logo, sound, meaning, products, services, customers, or sales channels. The two marks do not have to be identical. Trademark law is perfectly capable of side-eyeing creative spelling.
We also cover what opposition can do to a business. It can delay registration, trigger legal expenses, force negotiation, complicate fundraising, disrupt packaging decisions, or push a company toward rebranding. That does not mean every opposition is catastrophic. Some disputes settle. Some parties narrow goods and services. Some brands reach coexistence agreements. But ignoring the risk is a great way to turn a 30-day window into a 300-day headache.
This discussion is especially useful if you are preparing to file a trademark, waiting for publication, monitoring competitors, expanding into new product lines, or building a brand you hope to license, franchise, sell, or scale. A trademark is not just a decorative business accessory. It is a piece of commercial infrastructure. Treating it casually is like building your checkout system on a napkin and optimism.
You will learn why clearance searches matter before filing, why publication is not the finish line, why existing brand owners should monitor new applications, and why international timelines can differ. Canada generally has a two-month opposition period after advertisement. The European Union generally has a three-month opposition period after publication. Translation: global brand strategy needs more than one deadline and a prayer.
We also talk about the practical side. What should you do before filing? Search broadly. Look for similar names, spellings, meanings, logos, goods, services, app names, marketplace listings, domains, and social handles. What should you do after publication? Track the date, monitor for extensions or oppositions, and respond quickly if a challenge appears. What should existing trademark owners do? Watch new applications that could create confusion before they become registered rights.
The big takeaway: the trademark opposition period may be short, but it is not small. It is a final checkpoint before registration, and it deserves real attention from anyone serious about protecting brand value.
By the end, you will have a clearer sense of when to celebrate, when to slow down, and when to call in help before a brand problem becomes a business problem. Because nothing says âstartup adventureâ quite like discovering your new product name has a legal speed bump right after the marketing team ordered hoodies. Watch the clock.
To chat about this one-on-one, grab a free consult at strategymeeting.com
In this episode of Inventive Journey, Devin Miller sits down with engineer and entrepreneur Brian Livingston to explore a career path that somehow connects Peanut Butter M&Mâs, billion-dollar industrial projects, Caterpillar, and diesel fuel innovation.
Yes, really.
Brian shares how his childhood obsession with taking things apart eventually evolved into a chemical engineering career that spanned General Foods, M&M Mars, NutraSweet, and Caterpillar. Along the way, he discovered that while engineering fascinated him, understanding people fascinated him even more.
That insight ultimately shaped his leadership style and project management approach throughout his career.
The conversation dives into Brianâs early internships, corporate growth, and experiences navigating office politics, layoffs, international engineering projects, and large-scale operational leadership. One standout story involves his role helping manage a major project in France involving Japanese, American, and French stakeholders â an experience that earned him the nickname âthe James Baker of project management.â
And then thereâs the Peanut Butter M&Mâs story.
Brian explains how his team helped develop the production process for one of the worldâs most recognizable candy products, instantly giving him one of the most entertaining engineering claims to fame imaginable.
But the episode also explores much deeper entrepreneurial lessons.
After nearly two decades at Caterpillar, Brian found himself unexpectedly transitioning into entrepreneurship during the COVID-era downsizing. Instead of fully retiring, he partnered with a former colleague to pursue a diesel fuel efficiency technology business focused on catalytic fuel processing systems that improve diesel combustion efficiency.
Brian explains the science behind the technology, including how catalytic reactions help break longer diesel molecules into shorter chains that burn more efficiently. The result is improved fuel economy, lower emissions, and measurable operational savings for diesel-dependent industries.
However, Brian quickly discovered that technical innovation alone is not enough.
One of the biggest challenges became overcoming market skepticism. Many industrial buyers have encountered exaggerated fuel-saving claims in the past, forcing Brian to spend significant time educating prospects about the chemistry and physics behind the technology.
The episode also includes candid discussions about startup mistakes and lessons learned.
Brian openly shares how he lost approximately $45,000 early in the business by hiring an outsourced appointment-setting service that failed to deliver meaningful results. Rather than avoiding the topic, he uses the experience to emphasize the importance of learning your market personally before outsourcing critical growth functions.
Throughout the discussion, Brian advocates becoming what he calls a âchicken entrepreneurâ â someone who starts cautiously, validates demand, minimizes unnecessary risk, and avoids overextending financially during the early stages of business development.
The conversation highlights the emotional transition from long-term corporate professional to entrepreneur, including the challenges of adapting to uncertainty, building credibility independently, and learning entirely new business skills later in life.
This episode is packed with practical insights for engineers, inventors, startup founders, corporate professionals considering entrepreneurship, and anyone navigating major career transitions.
Youâll hear lessons on leadership, innovation, resilience, sales skepticism, project management, startup growth, and why curiosity may still be one of the most valuable traits in business.
And yes, youâll probably crave Peanut Butter M&Mâs afterward.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What makes one word a billion-dollar brand and another word legally useless for ownership? In this episode, we unpack the difference between trademarked and generic terms using familiar examples like âJust Do It,â âPost-it,â âSlurpee,â âBarbie,â âJeep,â âSmartphone,â and âCandy.â
The big lesson for founders and small business owners is simple: trademarks do not protect words just because someone likes them, registers a domain, or gets emotionally attached during a branding brainstorm. A trademark protects a source identifier. That means the word, phrase, logo, or slogan must help customers recognize where the product or service comes from.
That is why âJust Do Itâ works as a Nike slogan, but âcandyâ cannot be locked up by one company for candy. One points to a brand. The other points to the snack category that ruins workplace wellness challenges by Wednesday.
We also dig into why famous phrases and pop-culture references can be risky. A phrase may seem funny, nostalgic, or harmless, but if it points consumers toward another company, character, movie, product, or franchise, your clever name may become a legal headache wearing novelty sunglasses. Misspellings are not magic shields either. If people still recognize the famous brand behind your altered version, confusion can still be an issue.
This episode also covers the naming spectrum every founder should understand: generic, descriptive, suggestive, arbitrary, and fanciful. Generic names usually cannot be protected for the goods or services they name. Descriptive names may explain what you do but can be harder to own. Suggestive, arbitrary, and fanciful marks often create stronger long-term brand value because they help customers connect a name with one commercial source.
We talk about the common mistake of confusing domain availability with trademark clearance. Buying a domain does not mean the name is legally safe. A domain registrar will sell you a name without checking whether another company has superior rights. That is not trademark clearance. That is just a shopping cart with confidence issues.
For business owners, the practical takeaway is to search early and think strategically. Look for exact matches, similar spellings, similar sounds, related goods and services, and marks that create a similar commercial impression. Consider whether the name can grow with the company, whether it can be defended, and whether it avoids borrowing too heavily from famous brands.
We also cover the business hazards of weak naming. A generic name may be hard to protect. A name too close to a competitor may invite objections. A name tied to one narrow feature may box the company in later. And a name that leans on someone elseâs fame may create licensing, platform, advertising, and investor problems right when the business needs momentum.
The goal is not to scare founders away from creativity. The goal is to make creativity more useful. A good brand name should help customers remember you, give your marketing team something distinctive to build around, and give your legal strategy a stronger foundation. Your website copy can explain what you sell. Your trademark should help people remember who sells it.
If you are naming a startup, product, course, app, podcast, community, or service package, do not wait until after the logo reveal to think about trademarks. Check early, before money, ego, and printed merchandise become emotionally attached. Rebranding before launch is annoying. Rebranding after customers know you is a business migraine with invoices.
A good brand name should support marketing, search, customer memory, investor confidence, and legal protection. That is a lot of responsibility for a few words, but those words can become one of the most valuable assets your company owns.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What happens when a childhood obsession with building things collides with MIT engineering, BMW design innovation, Harvard Business School, and a mission to shape the next generation of entrepreneurs?
You get Laurie Stach.
In this episode of Inventive Journey, Laurie shares the unconventional path that led her from building dangerous double-decker go-karts in the backyard to founding LaunchX â one of the most recognized youth entrepreneurship programs helping young founders build real startups and entrepreneurial confidence.
Laurie opens up about growing up feeling like she never fully fit into one category. She loved engineering, creativity, athletics, experimentation, and problem-solving all at once. That blend of interests eventually led her to MIT, where she discovered an environment filled with builders, inventors, and curious minds who approached the world differently.
At MIT, Laurie immersed herself in machine shops and rapid prototyping culture. She worked at the MIT Media Lab building experimental technologies and learning firsthand how quickly ideas could move from imagination to physical reality. That love for prototyping later carried into her work at GE and BMW Design Studio, where she helped implement new technologies like 3D printing and innovation-driven workflows.
But despite enjoying the technical side of engineering, Laurie realized she was increasingly fascinated by bigger questions surrounding innovation itself:
- How industries evolve
- How entrepreneurs think
- How future trends emerge
- How people gain the confidence to build companies
That curiosity eventually led her to Harvard Business School, where she encountered one of the most uncomfortable lessons for an engineer: there often isnât one âcorrectâ answer in business.
Instead, entrepreneurship requires making decisions under uncertainty.
That realization became foundational when Laurie launched LaunchX.
What started as a simple idea, rough website, and evolving curriculum slowly transformed into a globally recognized entrepreneurship ecosystem. Laurie discusses the early days of balancing consulting with building LaunchX as a side hustle, testing ideas before feeling fully ready, and learning how to scale iteratively instead of waiting for perfection.
She also shares the emotional side of entrepreneurship that many founders rarely discuss:
- fear of uncertainty
- founder identity
- burnout risks
- delegation challenges
- hiring leadership
- scaling mission-driven companies
One of the most powerful moments in the conversation comes when Laurie explains how LaunchX alumni from the first ten years of the program now represent more than $17 billion in portfolio value. Yet for Laurie, the real mission isnât simply producing unicorn startups.
Itâs helping young people develop entrepreneurial confidence.
The conversation also explores:
- rapid prototyping
- startup iteration
- experiential education
- AI-driven entrepreneurship
- online learning evolution
- future startup ecosystems
- youth innovation trends
- founder psychology
Laurie explains why she believes todayâs entrepreneurs have more opportunity than any previous generation thanks to dramatically lower startup barriers and advances in AI technology.
At the same time, she emphasizes that entrepreneurship is not just about technology or money. Itâs about curiosity, resilience, creativity, and learning how to navigate uncertainty.
Whether youâre a founder, student, investor, educator, or someone exploring your next big idea, Laurieâs journey offers practical insight into how successful entrepreneurs actually grow â not through perfect plans, but through relentless experimentation and action.
And yes, occasionally through questionable homemade engineering projects.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What does it take to survive 299 failed marketing campaigns⌠bankruptcy⌠a corporate burnout⌠and still come out the other side building multiple 8-figure brands?
In this episode of Inventive Journey, Devin Miller sits down with entrepreneur and e-commerce expert Neil Twa to unpack one of the most brutally honest entrepreneurial stories weâve featured on the podcast.
Neilâs journey started with dreams of becoming a fighter pilot. But after being physically disqualified because he was too tall for the cockpit, life forced him into an entirely different direction. That pivot eventually led him into programming during the early days of the internet, enterprise AI systems at Sprint and IBM, affiliate marketing, online gaming businesses, and eventually building a thriving portfolio of physical product brands sold through Amazon, Shopify, TikTok Shop, and major retail channels.
Along the way, Neil learned lessons the hard way.
He discusses dropping out of college after realizing the education system wasnât teaching the real-world technology skills businesses actually needed. He shares how he worked on some of the foundational enterprise systems that helped pave the way for modern AI and large language models long before AI became todayâs hottest business trend.
But this episode goes far beyond technology.
Neil openly shares the painful realities of entrepreneurship that many people avoid discussing publicly.
At one point, he invested heavily into a startup opportunity that ultimately collapsed due to poor leadership and financial mismanagement. The fallout resulted in bankruptcy while his wife was pregnant with their fourth child. Neil describes watching cars get repossessed, rebuilding from almost nothing, and learning difficult lessons about trust, risk, and resilience.
Most entrepreneurs would have stopped there.
Neil didnât.
One of the most powerful moments in the conversation comes when Neil explains how he launched approximately 299 failed affiliate marketing campaigns before finally discovering a profitable campaign that changed everything.
That breakthrough taught him a critical lesson: persistence often matters more than perfection.
Eventually, Neil realized he didnât want to simply market products for other people anymore. He wanted ownership. That shift led him into physical product brands, scalable e-commerce systems, and long-term asset creation.
Today, Neil operates and helps manage more than 20 brands generating 7- and 8-figure revenues while leveraging AI throughout operations, marketing, analytics, and automation.
He also explains why he believes businesses ignoring AI today may already be falling dangerously behind competitors who are aggressively adopting automation and data-driven systems.
Some of the major topics discussed include:
⢠Why failure is often misunderstood in entrepreneurship
⢠The hidden emotional costs of building businesses
⢠How persistence creates competitive advantages
⢠Early internet and AI technology evolution
⢠Lessons learned from bankruptcy and rebuilding
⢠Why ownership matters more than temporary wins
⢠Building scalable e-commerce brands
⢠The future of AI-powered business operations
⢠Why complementary business partnerships matter
⢠The dangers of waiting too long to adapt to technology shifts
Perhaps most importantly, this conversation highlights the reality that entrepreneurship rarely follows a clean or predictable path.
Success is often messy.
It involves pivots, uncertainty, setbacks, reinvention, and moments where quitting feels completely rational.
But as Neilâs story proves, sometimes the entrepreneurs who ultimately succeed are simply the ones willing to continue testing after everyone else has stopped.
If youâve ever struggled through failure, uncertainty, burnout, or self-doubt while building a business, this episode will resonate deeply.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What is your trademark really worth?
For many founders and small business owners, the honest answer is: âI have no idea, but I feel emotionally attached to the logo.â Fair. Building a brand takes effort, money, late-night decisions, and at least one moment where someone asks whether the font feels âtoo corporate but not corporate enough.â
But trademark value is not based on feelings alone.
In this episode, we break down trademark valuation in plain English. A trademark can be a name, logo, slogan, product name, service mark, or other brand identifier that helps customers recognize the source of goods or services. When that mark becomes recognizable, trusted, and tied to customer decisions, it can become a real business asset.
That asset may matter during a sale, merger, acquisition, licensing deal, franchise expansion, investor conversation, enforcement dispute, divorce, bankruptcy, or internal strategy review. In other words, trademark valuation is not just for giant companies with skyscrapers and branding departments that use the word âsynergyâ without blinking.
We explore the biggest factors that influence trademark value, including legal strength, distinctiveness, federal registration, ownership clarity, market recognition, customer trust, revenue connection, licensing potential, geographic scope, and risk.
A distinctive trademark is usually easier to protect and often easier to value. Made-up, arbitrary, or suggestive names can be stronger assets than names that merely describe what the business sells. Descriptive names may be easy for customers to understand, but they can be harder to defend and may have less trademark strength.
Registration also matters. A registered trademark does not automatically make your brand worth millions. Sorry, there is no âfile once, become Coca-Colaâ button. But registration can strengthen rights, support enforcement, improve transferability, and give buyers or investors more confidence.
We also talk about ownership problems. If a contractor designed your logo, a former co-founder helped name the company, or a related business has been using the mark without clear agreements, the valuation may run into trouble. Buyers love clean assets. They do not love surprise ownership mysteries wearing a fake mustache.
The episode also explains how market recognition affects value. If customers search for your brand, leave reviews, recommend you, renew services, follow your content, or choose you over competitors because they recognize the name, the trademark is doing economic work.
Revenue connection is another major piece. A trademark becomes more valuable when you can show that it supports sales, premium pricing, customer loyalty, licensing income, referrals, or reduced acquisition costs. âPeople like usâ is nice. âThis brand drives measurable revenueâ is much better.
We cover common valuation methods too, including the income approach, market approach, cost approach, and relief-from-royalty method. That last one estimates what a company avoids paying because it owns the trademark instead of licensing it from someone else.
You will also hear about business hazards that can reduce trademark value. These include inconsistent brand use, weak enforcement, genericness risk, infringement problems, unclear ownership, reputation damage, and overestimating value without evidence.
This episode is especially useful if you are preparing to sell a business, license a brand, raise money, franchise, expand into new markets, clean up your intellectual property portfolio, or finally figure out whether your brand name is an asset or just a very confident label.
That means choosing distinctive names, protecting important marks, documenting ownership, using your brand consistently, tracking brand-driven revenue, monitoring competitors, and treating your trademark as part of your business strategy.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Your business name may be one of your most valuable assets, but is it actually protected?
In this episode-style breakdown, we explore word mark trademarks and why they matter for startup founders, small business owners, creators, consultants, product companies, and anyone building a brand that customers need to recognize.
A word mark trademark protects the wording of your brand name, slogan, product name, or phrase. It does not depend on your logo, font, color, or design style. That is why word marks are often so useful. Logos change. Websites change. Packaging changes. Sometimes the entire brand kit changes because someone discovered a new shade of blue and called it âstrategic.â But the name often remains the anchor.
This matters because customers usually search, recommend, and remember names. They type your name into Google. They say it in conversations. They tag it online. They compare it with competitors. If another business uses a confusingly similar name, the harm may happen even if the logos look completely different.
We cover what a word mark is, how it differs from a logo trademark, and why the USPTO commonly refers to these as standard character marks when no particular font, style, size, or color is claimed. We also explain why distinctiveness matters. A made-up, arbitrary, or suggestive name is often stronger than a name that merely describes the product or service.
That creates a real business tension. Descriptive names can be easier to market at first because customers immediately understand what you do. But they may be harder to protect. Distinctive names may require more explanation upfront but can become stronger long-term brand assets.
We also talk through common mistakes. Registering an LLC does not automatically give you trademark rights. Buying a domain name does not mean you own the brand. Using ⢠is not the same as having a federal registration. Filing a logo mark is not the same as protecting the wording of your name.
For founders, these details matter because rebranding is expensive. It can affect your website, social profiles, packaging, signage, customer trust, SEO, ads, contracts, app listings, and every pitch deck you already sent into the wild.
This episode also breaks down the practical steps: choose the exact wording, confirm it functions as a brand, evaluate distinctiveness, conduct a clearance search, identify the correct goods and services, decide whether to file based on current use or intent to use, file carefully, monitor the application, and maintain the registration after approval.
We also discuss why trademark registration is not the finish line. A mark must be used consistently, monitored, and maintained. Enforcement should be strategic and proportionate. Not every conflict requires a lawsuit, but ignoring real confusion can weaken your position and damage customer trust.
The big lesson is simple: your brand name is not just decoration. It is a business asset. A word mark can help protect that asset before competitors, copycats, or confusingly similar names start creating problems.
If you are building a company, launching a product, creating a course, naming a podcast, or scaling a service business, this topic is worth understanding before you invest heavily in branding.
Because copycats rarely arrive with a warning label. They usually show up with a similar name, a cheaper logo, and the confidence of someone who skipped the trademark search.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What do high school debate team, chemistry labs, law school burnout, and credit card points all have in common?
Apparently⌠they can all lead to becoming a startup CEO.
In this episode of The Inventive Journey, Devin Miller sits down with Travis Cormier to unpack one of the most unconventional entrepreneurial journeys weâve featured on the show. Travis shares how his path evolved from âsuper nerdâ debate competitor to aspiring astrophysicist, law school student, chemist, freelance writer, COO, and eventually CEO of a rapidly growing media company.
Along the way, Travis reveals the pivotal moments that shaped his career â including the realization that prestige and fulfillment are not always the same thing.
After initially pursuing law school with dreams of working in a major firm, Travis quickly discovered that the lifestyle attached to those prestigious careers didnât align with the life he actually wanted. Hearing attorneys proudly describe their ability to work until midnight from home while âonlyâ working three weekends per month became a wake-up call that forced him to reconsider his future.
That decision eventually led him back into chemistry, where he built a stable career while quietly exploring entrepreneurial opportunities on the side.
Then came the Maldives honeymoon.
When Travis and his wife began planning their honeymoon, he discovered just how expensive luxury travel could be. Instead of giving up, he became obsessed with learning how travel rewards and credit card points worked. That curiosity introduced him to the travel media world and ultimately opened the door to freelance writing opportunities.
What started as side income soon evolved into something much larger.
Travis climbed from freelance contributor to editor, then into operational leadership before becoming COO of the business. Over the next several years, the company experienced explosive growth â scaling roughly 1,400% while growing its team and expanding its audience through strategic community building.
Today, Travis serves as CEO and is helping guide the company through its next phase of operational maturity and long-term sustainability.
Throughout the conversation, Travis shares valuable lessons about:
- Career pivots and professional identity
- Escaping prestige traps
- Startup growth and scaling
- Community-driven business models
- Leadership transitions
- Operational strategy
- Testing business ideas
- Knowing when to kill products that no longer serve the business
- Building sustainable entrepreneurial momentum
One of the biggest takeaways from this episode is the importance of finding the lane your business can truly own.
While many brands chase every possible growth channel, Travis explains how their company focused heavily on community-building â particularly within Facebook groups â and turned that focus into a major competitive advantage.
He also discusses one of the hardest entrepreneurial realities: sometimes founders become emotionally attached to products or ideas that customers simply do not want.
That lesson became painfully clear after realizing one product they loved internally had only a handful of active users while still costing thousands of dollars per month to maintain.
As Travis explains, passion matters â but market demand matters more.
This episode is packed with honest insights for founders, entrepreneurs, career changers, and anyone trying to figure out how to align ambition with lifestyle design.
If youâve ever questioned your career path, wondered whether prestige is worth the tradeoffs, or tried to navigate the uncertainty of entrepreneurship, this conversation will resonate deeply.
Because sometimes the journey to becoming a CEO doesnât begin with a startup acceleratorâŚ
Sometimes it begins with trying to afford a honeymoon.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Scott Duffyâs entrepreneurial journey is proof that success rarely follows a predictable roadmap. In this episode of Inventive Journey with Devin Miller, Scott shares an incredible story that spans hot dog stands, catastrophic setbacks, Tony Robbins, Silicon Valley startups, internet media companies, and the rise of artificial intelligence.
Scottâs story starts in Los Angeles where his father intentionally pushed him toward responsibility early in life. Working at hot dog stands and catering events taught him customer service, accountability, and work ethic before most teenagers even understand what taxes are. Eventually he found himself selling quiche at a food cart in Century City, which may be one of the least glamorous but most educational entrepreneurial beginnings imaginable.
After graduating high school, Scott attended the University of San Diego where a simple piece of networking advice changed everything. He built relationships with the universityâs career counseling department early and that eventually opened the door to AAA Student Painters. There, Scott learned real entrepreneurial skills including hiring, operations, billing, customer service, inventory management, and leadership.
Then came a life-changing tragedy.
During a trip to Mexico in college, Scott was involved in a devastating car accident that left him with brain hemorrhages and forced him to leave school temporarily. Recovery became one of the hardest periods of his life. Unable to comfortably read or watch television, Scott spent his days listening to motivational audio programs from icons like Jim Rohn, Zig Ziglar, Brian Tracy, and Tony Robbins.
That unexpected detour eventually led him to apply for an internship with Tony Robbins. Instead of an internship, he was offered a job.
Working alongside Tony Robbins during the early growth years of the company transformed Scottâs perspective on mindset, communication, sales psychology, and business development. One of the most valuable lessons he learned involved understanding customer psychology through deeper questioning. Scott explains why simply asking customers what they want is not enough and how businesses must understand how customers define value personally.
The episode also dives into Scottâs entrance into Silicon Valley during the earliest days of the commercial internet. At a time when most people barely understood what the internet even was, Scott recognized massive opportunity emerging in the Bay Area.
With almost no money, he couch surfed throughout San Francisco trying to break into tech startups. Eventually he ran out of cash entirely and found himself sleeping in his car outside Oracle headquarters during a rainstorm while deciding whether to give up or keep pushing forward.
Then came the legendary pizza-resume strategy.
Scott used his last few dollars to buy discounted leftover pizzas, stuffed his resume underneath the cheese, and delivered them to startup offices. The unconventional approach worked because it stood out in a world already crowded with generic resumes and predictable networking tactics.
That creative gamble helped launch Scott into internet startups that later became major media brands including CBSsports.com and other high-growth digital companies during the dot-com era.
The conversation then shifts toward artificial intelligence and why Scott believes AI mirrors the early internet revolution. Having entered AI years before mainstream adoption accelerated, Scott now works with organizations around the world helping them become AI fluent and avoid falling behind technologically.
One of the most powerful themes throughout the interview is focus.
Scott shares his âhammers and nailsâ analogy to explain why entrepreneurs fail when they spread themselves too thin.
To chat about this one-on-one, grab a free consult at strategymeeting.com
In this episode of the Inventive Journey podcast, host Devon Miller talks with Michael Timmons, founder of GoodFences.ai, about a career built around solving difficult problems in unexpected places.
Michaelâs journey started in Central Texas, where football taught him teamwork and an early software engineering job introduced him to the power of technology. He went on to earn an aerospace engineering degree from the University of Texas and spent four years working on NASA ground control software for the space shuttle. There, he helped modernize legacy code that traced back to the Apollo era and learned how high-pressure teams make decisions when the mission matters.
From NASA, Michael moved into logistics work with American Airlines, where he helped solve complex railroad optimization problems. Later, he reunited with former NASA colleagues and launched a consulting company that ran for 17 years. That business exposed him to national missile defense, energy, insurance, criminal justice, international distribution, and large-scale modernization projects. In other words, Michael did not choose easy puzzles. Easy puzzles apparently did not make the calendar.
The idea for GoodFences.ai came from a personal frustration. Michael and his wife bought a home and wanted to install solar panels. They knew the HOA rules, understood the state law, had a vendor selected, and expected the approval to move quickly. Instead, the process dragged on for eight months. Michael eventually joined the HOA board, giving him a front-row seat to both homeowner frustration and board-level inefficiency.
That experience revealed a business opportunity. Many HOA architectural requests are repetitive, rule-based, and similar to past approvals. Yet boards, managers, and homeowners often spend hours or months moving them through manual processes. GoodFences.ai was created to automate much of that work, improve consistency, reduce administrative burden, and help communities approve compliant requests faster.
Michael also shares practical founder lessons. One of his worst business decisions was buying an expensive tool before the company was ready for it. It looked useful, but timing matters. A powerful tool adopted too early can become a very polished money pit.
His rule of thumb for new founders is simple: talk to people. Especially for technical and introverted founders, it is easy to stay heads-down building. Michael argues that conversations are essential because they create feedback, customers, partnerships, introductions, and momentum.
This episode is a strong listen for SaaS founders, AI entrepreneurs, HOA professionals, property managers, technical founders, and anyone trying to turn operational frustration into a real company. Michaelâs journey proves that startup ideas do not always come from glamorous brainstorming sessions. Sometimes they come from trying to install solar panels and realizing the neighborhood approval process needs a software intervention.
The most interesting part of Michaelâs story is that every chapter connects. Aerospace, logistics, missile defense, consulting, and HOA automation all involve systems thinking. They require someone to identify constraints, understand stakeholders, reduce waste, and create a process that works better than the old one. GoodFences.ai is the latest expression of that same skill set, aimed at a market where delays, inconsistent reviews, and volunteer board overload create very real pain. The result is a practical example of AI solving a workflow people actually experience.
Learn more about Michaelâs company at goodfences.ai, and listen to the full episode for a practical look at AI automation, founder resilience, customer discovery, and solving painful business bottlenecks.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What if the secret to success isnât working harder?
In this episode of Inventive Journey, Devin Miller sits down with entrepreneur and business coach Liam Naden to discuss the extraordinary journey that completely changed Liamâs understanding of success, fulfillment, and entrepreneurship.
After building multiple successful businesses and achieving financial success, Liam found himself overwhelmed by stress, burnout, and unhappiness. Despite having the dream home, money, freedom, and business success he always wanted, something still felt deeply wrong. Eventually, everything collapsed. Liam lost his businesses, marriage, home, and financial security, forcing him to rebuild his life from scratch.
But what happened next surprised him.
Instead of rebuilding through hustle, rigid goals, and nonstop pressure, Liam began operating differently. He stopped trying to force outcomes and focused instead on intuition, simplicity, flexibility, and taking one step at a time. Unexpected opportunities started appearing naturally, eventually leading him to rebuild financially and create a location-independent lifestyle traveling and sailing throughout Europe.
In this powerful conversation, Liam shares:
- Why hustle culture often creates burnout instead of fulfillment
- The hidden dangers of ignoring intuition in business decisions
- How lowering expenses can increase entrepreneurial freedom
- Why external success does not automatically create happiness
- How he rebuilt after losing everything
- The difference between forcing outcomes and allowing opportunities to emerge
- Why overthinking can damage decision-making
- How entrepreneurs can reduce stress while improving performance
Liam also discusses the importance of simplifying life and business, challenging the modern obsession with endless productivity and constant growth. His story offers a refreshing perspective for entrepreneurs who feel trapped by pressure, burnout, or the belief that success must always come through struggle.
One of the most memorable parts of the episode is Liamâs realization that what he truly wanted was not money itself, but the feeling he believed success would create. Ironically, he only found that feeling after letting go of the exhausting systems and expectations he once believed were required.
Whether youâre building a startup, recovering from setbacks, or reevaluating your entrepreneurial goals, this episode offers practical wisdom and a thought-provoking alternative to traditional business advice.
If youâve ever wondered whether thereâs a healthier way to succeed in business without sacrificing your peace of mind, this conversation is worth listening to.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Dead trademarks create one of the most misunderstood areas of business law â and in this episode/article, we unpack why reviving an abandoned brand name can either become a brilliant strategic move or a costly legal disaster.
Many entrepreneurs believe that once a trademark registration expires, the name instantly becomes available for anyone to use. Unfortunately, trademark law is nowhere near that simple. Businesses may still retain common law rights, consumer recognition, and ongoing commercial protections long after a federal registration becomes inactive.
That means companies trying to revive dead trademarks can accidentally walk straight into lawsuits, cease-and-desist letters, forced rebrands, and expensive intellectual property disputes.
In this discussion, we break down:
- What legally qualifies as a dead trademark
- How trademarks become abandoned
- When the USPTO may allow trademark revival
- Why common law trademark rights still matter
- The biggest mistakes businesses make during branding searches
- How nostalgic brands are strategically revived
- The hidden risks of resurrecting old company names
- Why due diligence is essential before launching a revived brand
We also explore how nostalgia marketing has fueled renewed interest in abandoned trademarks. Across fashion, entertainment, gaming, food products, and technology, businesses increasingly search for forgotten brands that still hold consumer recognition.
The logic is understandable.
Building a recognizable brand from scratch is difficult and expensive. Reviving a familiar name may create instant emotional connection and marketplace attention.
But nostalgia branding comes with risks.
Some abandoned trademarks carry lingering legal claims. Others maintain regional usage that can still create enforceable rights. Some simply come with outdated reputations or historical baggage that modern consumers may rediscover quickly online.
And then thereâs the issue of consumer confusion â one of the core concerns trademark law is designed to prevent.
If customers mistakenly believe your revived company is affiliated with the original business, courts may become very interested in your branding strategy very quickly.
This episode/article also explains why trademark law differs from many other forms of intellectual property. Trademark rights often depend heavily on actual marketplace use rather than registration alone. That creates complicated situations where âdeadâ registrations may still carry active legal consequences.
For startups, entrepreneurs, marketers, and business owners, understanding these distinctions can prevent massive financial headaches later.
Because discovering trademark problems after investing in websites, packaging, advertising, and product launches is significantly more painful than spending time on proper legal research upfront.
Whether youâre considering reviving an old trademark, evaluating a rebranding opportunity, or simply trying to avoid avoidable business mistakes, this conversation provides practical insights into one of the stranger corners of intellectual property law.
It turns out that in business, some brands never fully die.
They just wait for someone brave enough to dig them back up.
To chat about this one-on-one, grab a free consult at strategymeeting.com
In this episode of The Inventive Journey, host Devin Miller sits down with Kyle Gray to explore how a winding path through music, travel, entrepreneurship, content marketing, and storytelling became the foundation for Kyleâs work helping entrepreneurs communicate with clarity.
Kyleâs story starts at the University of Utah, where he felt the pressure many young entrepreneurs recognize all too well: the pressure to know exactly what comes next. At first, he thought music might be the answer. He wanted to write songs that moved people and created impact. But as he put more pressure on the dream, the joy started to fade. It was an early lesson in the difference between passion and forcing a passion to file quarterly reports.
Travel soon became a major part of Kyleâs journey. After spending time in Chile, Argentina, Peru, Brazil, and Morocco, he began seeing the world differently. He learned how to navigate unfamiliar situations, follow curiosity, ask better questions, and adapt quickly. Those skills may not show up neatly on a rĂŠsumĂŠ, but they are incredibly useful in entrepreneurship. Getting lost abroad can teach you a lot about resourcefulness, especially when the map, language, and lunch menu are all working against you.
Kyle also tested several business ideas along the way. Some were useful experiments. Some were creative detours. Some were business ideas that now make for much better stories than companies. He tried a drop-shipping concept for outdoor fire pits and explored the idea of a custom leather jacket business inspired by artisans he met in Morocco. The jacket idea had real imagination behind it: customers could design a jacket online almost like building a video game character. But Kyle realized he did not care enough about fashion to dedicate his life to sleeve length, leather color, and zipper placement.
That realization became a major entrepreneurial lesson. Just because an idea might work does not mean it is the right idea for you. Kyleâs early experiments helped him discover what energized him, what drained him, and what kind of work kept pulling him forward.
Eventually, Kyle moved into conversion rate optimization, marketing consulting, and content marketing. He learned how people respond to messaging, how websites persuade, and how content can build authority. As a student, he also discovered the power of simply asking people for conversations. By reaching out to entrepreneurs and interviewing them, he built relationships that later opened professional doors.
One of those opportunities led Kyle into professional writing and content marketing with WP Curve. From there, his experiences began to connect. Music had taught him creativity. Travel had taught him adaptability. Business experiments had taught him discernment. Marketing had taught him persuasion. Writing had taught him clarity. Together, those threads led Kyle toward business storytelling and presentation coaching.
Today, Kyle helps entrepreneurs turn their experiences, expertise, and ideas into stories that connect with audiences and inspire action. This episode is a reminder that your founder story does not need to be perfect to be powerful. In fact, the detours may be the point. The experiments that did not work, the uncertain seasons, the unexpected opportunities, and the odd little ideas that seemed brilliant at the time can all become part of a message that helps others.
For inventors, startup founders, consultants, creators, and small business owners, Kyleâs journey offers a practical lesson: clarity often comes through motion. You do not always think your way into the perfect niche. Sometimes you test, travel, write, ask, fail, adjust, and eventually notice the pattern that has been forming all along.
This conversation is especially valuable for anyone trying to explain what they do, why it matters, and how their journey gives them the insight to help others.
To chat about this one-on-one, grab a free consult at strategymeeting.com
How do companies legally compete against patented products without getting sued?
That question sits at the center of some of the largest business battles in modern history.
In this episode, we break down how businesses legally navigate around patents through design modifications, licensing agreements, engineering alternatives, patent litigation strategies, and competitive innovation.
Many entrepreneurs mistakenly believe patents create permanent monopolies over ideas or industries. In reality, patents protect very specific invention claims â and businesses constantly search for legal ways to innovate around them.
We explore:
â
What patents actually protect
â
What âdesigning aroundâ a patent means
â
Why licensing agreements dominate major industries
â
How patent challenges work
â
Why patent expiration changes markets dramatically
â
Famous patent wars involving Apple, Samsung, Tesla, and pharmaceutical companies
â
The growing controversy around patent trolls
â
Why startups need intellectual property awareness early
One of the most important lessons in this discussion is understanding that patents are both legal tools and competitive business strategies.
Large corporations build massive patent portfolios not only to protect innovation but also to negotiate leverage within industries. Startups increasingly face patent risks as technology markets become more crowded and competitive.
The conversation also explores the ongoing debate surrounding modern patent systems.
Supporters argue patents encourage innovation by rewarding inventors with temporary exclusivity and creating incentives for expensive research and development.
Critics argue some companies weaponize patents to suppress smaller competitors and slow innovation.
The balance between protecting inventors and encouraging competition remains one of the most complex issues in modern business law.
We also discuss how industries like:
- Artificial intelligence
- Software
- Automotive engineering
- Biotechnology
- Pharmaceuticals
- Consumer electronics
âŚare heavily influenced by patent strategy and intellectual property disputes.
For entrepreneurs, one of the biggest takeaways is this:
Understanding intellectual property early is no longer optional.
Patent mistakes can become extraordinarily expensive, especially once products scale publicly.
At the same time, businesses that understand patent strategy often discover opportunities competitors miss entirely.
Because modern innovation is not simply about inventing something first.
Itâs about:
âď¸ Strategic differentiation
âď¸ Legal awareness
âď¸ Competitive positioning
âď¸ Long-term execution
And honestly, somewhere right now, two engineers are probably arguing over whether changing one hinge technically avoids a billion-dollar lawsuit. đ
To chat about this one-on-one, grab a free consult at strategymeeting.com
Can you trademark an idea? Itâs one of the most common â and costly â misunderstandings entrepreneurs make when building a business.
In this deep dive, we unpack the real differences between trademarks, patents, copyrights, and trade secrets so business owners can stop guessing and start protecting their intellectual property strategically.
Many founders assume that simply having an idea creates ownership rights. Unfortunately, intellectual property law doesnât work that way. A trademark protects your brand identity â things like names, logos, slogans, and recognizable symbols used in commerce. Patents protect inventions and processes. Copyrights protect creative works like articles, videos, podcasts, software code, and books. Trade secrets protect confidential systems and proprietary information.
Understanding these distinctions matters far more than most startups realize.
In todayâs business environment, intangible assets often become more valuable than physical products. Strong branding, original content, innovative systems, and proprietary strategies can all create competitive advantages â but only if theyâre protected correctly.
This episode explores:
â
Why ideas alone usually arenât legally protected
â
The difference between trademarks and patents
â
How copyrights actually work
â
Why startups should care about intellectual property early
â
Common mistakes entrepreneurs make with branding
â
How large companies aggressively protect IP
â
Why execution matters more than ideas
â
The hidden risks of waiting too long to file protections
We also discuss famous intellectual property battles involving companies like Apple, Samsung, Starbucks, Disney, Nike, and Coca-Cola â all of which demonstrate how powerful intellectual property strategy can become in highly competitive industries.
One of the biggest takeaways from this conversation is that intellectual property law is not simply about legal defense. Itâs about business strategy.
The companies that win long term are often the ones that combine:
- Strong branding
- Clear differentiation
- Consistent customer trust
- Strategic innovation
- Proper legal protection
Ironically, many entrepreneurs spend more time worrying about âsomeone stealing their ideaâ than actually building a memorable brand or scalable business system.
The reality is this:
Ideas are common.
Execution is rare.
A startup with mediocre ideas but outstanding execution often outperforms businesses with brilliant ideas and weak operational strategy.
This episode also addresses the emotional side of entrepreneurship. Founders naturally feel protective of ideas theyâve invested time, energy, and passion into. But understanding how the legal system actually views ideas can help entrepreneurs make smarter decisions about growth, marketing, branding, and product development.
Whether youâre launching a startup, building a personal brand, creating content, developing software, or scaling an established company, understanding intellectual property fundamentals is critical in todayâs marketplace.
Because protecting your business properly is usually much cheaper than fighting legal battles later.
And honestly, if your entire intellectual property strategy currently consists of âI emailed myself the idea once,â it may be time for an upgrade.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Entrepreneurship is often marketed as an exciting adventure filled with innovation, growth, and endless opportunity. What gets discussed far less often are the difficult moments behind the scenes â founder disputes, intellectual property battles, broken partnerships, operational stress, and the emotional challenge of rebuilding after major setbacks.
In this episode of The Inventive Journey, Devin Miller sits down with entrepreneur Kevin Timm to discuss the realities of building businesses in the outdoor recreation industry and what happens when entrepreneurial momentum collides with conflict.
Kevin shares his journey from developing innovative outdoor and camping products to navigating one of the toughest situations any founder can face: a brutal business split that changed the direction of his entrepreneurial path.
Throughout the conversation, Kevin explains how innovation initially drove his passion for entrepreneurship. Like many founders, he identified opportunities to improve products and create better experiences for customers who genuinely relied on performance, functionality, and reliability.
The outdoor industry is highly competitive and heavily driven by product innovation. Founders constantly face pressure to differentiate themselves while simultaneously protecting intellectual property, managing operations, and scaling effectively.
But entrepreneurship becomes significantly more complicated once growth begins.
As Devin and Kevin discuss, early startup excitement can sometimes hide future partnership problems. Founders may align initially around product development and vision, but over time, disagreements surrounding leadership, ownership, strategy, and operations can create enormous friction.
Kevin offers an honest perspective on how difficult founder conflict can become when years of hard work, emotional investment, and business identity are tied together.
One of the most valuable lessons from this episode centers around intellectual property protection. Many startups move quickly to launch products and generate revenue while delaying conversations about patents, trademarks, operating agreements, and ownership structures.
That delay can create major vulnerabilities later.
Kevinâs experience highlights why entrepreneurs should prioritize legal clarity earlier than they often expect. Intellectual property is not simply about paperwork. It is about protecting innovation, reducing ambiguity, and establishing long-term business stability.
The conversation also explores the realities of manufacturing, competition, and scaling within the outdoor products market. As businesses grow, operational complexity increases rapidly. Supply chains become more demanding, competitors become more aggressive, and founder alignment becomes increasingly important.
Kevin also discusses the emotional side of entrepreneurship â something many founders experience privately but rarely discuss publicly.
Business setbacks can impact confidence, motivation, relationships, and mental health. Rebuilding after a major business split requires resilience, adaptability, and a willingness to continue creating despite disappointment.
What makes this conversation especially impactful is Kevinâs willingness to continue innovating after difficult experiences rather than stepping away from entrepreneurship entirely.
His story demonstrates that entrepreneurial success is not always defined by avoiding setbacks.
Sometimes success is defined by what founders choose to build after setbacks occur.
Listeners will gain practical insights into startup resilience, founder relationships, intellectual property strategy, innovation, leadership, manufacturing realities, and long-term business growth.
Kevin Timmâs journey is a reminder that entrepreneurship is rarely a straight line.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What happens when an insurance executive leaves corporate leadership, joins an early internet startup, discovers the power of freelancers before remote work became mainstream, and then builds a company around helping small businesses scale smarter?
You get a fascinating entrepreneurial journey like the one shared by Elizabath Eiss on this episode of Inventive Journey.
In this conversation, Elizabath explains how her career evolved from commercial insurance underwriting into technology startups, consulting, and eventually founding Results Resourcing â a company focused on helping entrepreneurs and small businesses build operational support through curated freelance teams.
One of the most memorable moments in the episode comes from a simple phrase that completely reshaped her business model:
âConfident, reliable, nice.â
That was the request from a business owner who needed urgent support and didnât care about flashy resumes or complicated credentials. They simply wanted someone dependable, capable, easy to work with, and available quickly.
Ironically, that simple request captures one of the biggest hiring challenges facing modern entrepreneurs.
Small businesses today are overwhelmed.
Founders are trying to handle sales, marketing, bookkeeping, customer support, operations, social media, hiring, and strategic planning all at the same time. Many entrepreneurs become trapped inside operational work and never truly step into the CEO role required for sustainable growth.
Elizabath believes outsourcing can help solve that problem â but only if itâs done strategically.
Throughout the episode, she discusses the evolution of freelance marketplaces, why so many founders struggle with delegation, and how curated teams can provide far more value than disconnected individual contractors.
She also shares insights from her early corporate career where she learned how businesses succeed, fail, adapt, and scale. Her insurance underwriting background exposed her to countless industries and gave her a unique perspective on operational effectiveness and organizational risk.
The episode also explores networking, entrepreneurial resilience, and the importance of staying open to reinvention throughout a career.
Some additional highlights include:
- Why many founders stay too operational for too long
- The hidden costs of trying to do everything yourself
- How outsourcing has evolved over the last two decades
- Why networking remains one of the most underrated entrepreneurial skills
- The lessons learned from joining a startup that ultimately failed
- How small businesses can scale without massive payroll overhead
- The shift from hiring individual freelancers to building integrated support teams
- Why adaptability matters more than rigid career planning
One especially valuable insight comes when Elizabath discusses recognizing when to leave struggling situations instead of staying purely out of optimism. That balance between persistence and realism is something nearly every entrepreneur faces at some point.
The conversation also highlights the broader economic importance of small businesses. As Elizabath points out, the overwhelming majority of businesses in the United States are tiny organizations or solopreneurs. Helping those businesses grow even modestly can create major impacts for families, local economies, and communities.
Whether youâre an entrepreneur, startup founder, freelancer, consultant, or small business owner trying to scale more effectively, this episode offers practical insights grounded in real operational experience.
Most importantly, it reminds listeners that growth doesnât always come from doing more personally.
Sometimes growth comes from building systems, relationships, and support structures that allow founders to focus on what matters most.
And sometimes the most valuable business qualities are still the simplest ones:
Confident.
Reliable.
Nice.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Patents are often treated like business lottery tickets. Inventors dream about billion-dollar exits, licensing empires, and passive income streams that magically appear after receiving government approval paperwork. But the reality of patent value is far more complicated â and far more interesting.
Some patents become worth millions or even billions of dollars. Others quietly expire with little commercial impact. So what actually determines whether intellectual property becomes a valuable strategic asset or simply an expensive framed document hanging in an office?
This episode explores the business truth behind patent valuation and why commercialization matters far more than most entrepreneurs realize.
We break down the core factors that influence patent value, including market demand, licensing opportunities, competitive advantage, enforceability, timing, and scalability. Youâll learn why investors often care less about the patent itself and more about the business ecosystem surrounding the invention.
We also discuss one of the biggest misconceptions in entrepreneurship: the belief that obtaining a patent automatically guarantees protection or financial success. In reality, patents are legal tools â and like any tool, their effectiveness depends on how strategically they are used.
The conversation explores how major corporations use patents defensively and offensively, how startups leverage intellectual property during fundraising, and why some businesses intentionally build massive patent portfolios to influence competition.
Historical examples from technology, pharmaceuticals, and manufacturing reveal how intellectual property has shaped entire industries. From Apple versus Samsung to billion-dollar drug patents, patent disputes have become central to modern business strategy.
We also examine the darker side of patent systems, including litigation risks, patent trolling, rising legal costs, and the challenges small companies face when competing against corporations with enormous legal resources.
Another major theme involves timing. Some inventions arrive before markets are ready. Others appear too late to establish meaningful competitive advantages. Understanding market readiness often matters just as much as technical innovation itself.
For entrepreneurs, inventors, startup founders, and investors, this discussion provides practical insight into evaluating intellectual property realistically rather than emotionally.
Because while patents can absolutely become valuable assets, they are rarely valuable in isolation.
The businesses that generate the greatest returns are usually the ones that combine innovation with execution, commercialization strategy, customer demand, and operational discipline.
This episode is especially relevant for technology companies, startups, medical innovators, software founders, and businesses exploring licensing opportunities or intellectual property growth strategies.
Whether you are considering filing your first patent, evaluating acquisition opportunities, or trying to understand how intellectual property influences company valuation, this conversation offers a grounded and strategic perspective.
By the end, youâll better understand why some patents become global business weapons while others quietly disappear into legal archives.
And perhaps most importantly, youâll understand why intellectual property is ultimately about business strategy â not just legal paperwork.
To chat about this one-on-one, grab a free consult at strategymeeting.com
In this powerful episode of The Inventive Journey, Devin Miller sits down with entrepreneur, speaker, and emotional intelligence expert Christopher Salem to discuss a journey filled with chaos, reinvention, business success, addiction recovery, and transformational leadership lessons.
Christopher Salemâs story is anything but traditional.
From struggling with direction in college to navigating toxic corporate environments, Salem openly shares the highs and lows that shaped his entrepreneurial path. After attending Arizona State University and entering the aerospace industry through Sikorsky Aircraft, he quickly discovered that many corporate workplaces in the late 80s and early 90s operated through fear, micromanagement, and aggressive leadership.
One unforgettable moment involved Salem physically confronting a supervisor after relentless pressure and toxic management tactics pushed him past his breaking point. Surprisingly, rather than being terminated, he was promotedârevealing just how normalized unhealthy leadership culture had become during that era.
But external success masked deeper internal struggles.
Salem discusses battling addiction, sabotaging personal relationships, and repeatedly rebuilding his professional life while privately struggling emotionally. Through sales roles, media businesses, startup investments, aviation ventures, and entrepreneurship, he consistently found opportunities to succeed professionally while simultaneously confronting unresolved emotional pain.
Everything changed following the death of his father.
In one deeply emotional conversation during his fatherâs final days, Salem realized that blaming others for his circumstances would never create lasting change. That realization became the catalyst for his recovery and personal transformation.
Instead of living reactively, he committed himself to emotional intelligence, communication mastery, accountability, and intentional growth.
Those lessons ultimately became the foundation for his consulting and coaching business.
Today, Christopher Salem helps organizations improve communication, leadership development, customer engagement, emotional intelligence, psychologically safe workplace culture, stakeholder alignment, and business growth strategies. He also teaches professionals how to use speaking opportunities as a platform to grow influence and authority.
Throughout this conversation, Salem and Devin Miller discuss:
⢠Toxic workplace cultures and leadership failures
⢠Emotional intelligence in entrepreneurship
⢠Addiction recovery and personal accountability
⢠Startup investing lessons and due diligence mistakes
⢠Building and selling successful businesses
⢠Communication strategies for leadership and sales
⢠Why entrepreneurs must validate market demand
⢠How emotionally intelligent leadership improves retention and performance
⢠Using speaking and storytelling to grow business influence
This episode offers valuable lessons for entrepreneurs, executives, startup founders, sales leaders, and anyone seeking to improve communication and leadership effectiveness.
Christopher Salemâs journey proves that reinvention is possibleâeven after emotional breakdowns, business failures, addiction struggles, and toxic environments.
Sometimes the biggest breakthroughs begin when you stop blaming circumstances and start understanding yourself.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What do cleaning toilets, surviving corporate layoffs, and building a tech-enabled franchise empire have in common? For Adam Povlitz, theyâre all chapters of the same story.
In this episode of The Inventive Journey, Adam Povlitz, CEO of Anago Cleaning Systems, shares how he transformed a traditionally âthanklessâ industry into a scalable, tech-powered business by focusing on the one thing most competitors ignore: what happens when something goes wrong.
Adamâs path wasnât a straight line to the top. After studying finance and beginning his career at IBM, he found himself in the middle of the 2008 financial crisisâtasked with analyzing layoffs and determining employee exit packages. That experience reshaped how he viewed business, leadership, and long-term stability.
Instead of continuing down the corporate path, Adam made a pivotal decision to join his familyâs commercial cleaning business. But rather than stepping into leadership, he started from the ground upâworking in telemarketing, cleaning daycares, supporting franchisees, and learning every corner of the operation firsthand.
That hands-on experience became the foundation for his leadership style: servant leadership. By focusing on helping franchisees grow their businesses âbetter, faster, smarter, and cheaper,â Adam built credibility, trust, and long-term alignment across the organization.
As he rose to President and eventually CEO, Adam identified a critical gap in the industry. The problem wasnât the cleaning itselfâit was the customer experience surrounding it. In a business where customers only notice you when something goes wrong, the response to those moments becomes everything.
That insight led to the creation of CleanCom, a proprietary platform designed to simplify and streamline customer communication. With features like real-time issue reporting, photo uploads, built-in translation, and guaranteed response times, CleanCom turns complaints into opportunities to build loyalty.
But the innovation doesnât stop at communication. On the backend, the system tracks recurring issues, identifies patterns, and enables proactive retrainingâtransforming reactive service into preventive operations.
In this conversation, Adam also opens up about one of his biggest business mistakes: investing heavily in software before having a clear adoption strategy. He shares how that lesson shaped his evolving perspective on whether to build, buy, or lease technologyâand why that answer continues to change with the rise of AI.
He also offers a powerful piece of advice for entrepreneurs and leaders: hire people who are smarter than you and get out of their way. As simple as it sounds, Adam explains why this mindset is critical for scaling a business and avoiding the trap of becoming your own bottleneck.
From expanding into national accounts to competing for large-scale enterprise contracts, Adamâs story highlights how innovation, leadership, and operational discipline can unlock growthâeven in industries most people overlook.
If youâve ever thought your industry was too âboringâ to innovate in, this episode will challenge that assumption.
Because sometimes, the biggest opportunities arenât in reinventing what you doâtheyâre in rethinking how you respond.
To chat about this one-on-one, grab a free consult at strategymeeting.com
If youâre an inventor or entrepreneur riding the high of securing a U.S. patent, this episode is your reality checkâin the best possible way. Because while a U.S. patent is a powerful asset, itâs also geographically limited. And in todayâs global economy, that limitation can become a major vulnerability if not addressed early.
We dive into one of the most misunderstood aspects of intellectual property: international patent protection. Many inventors assume their rights extend automatically beyond U.S. borders. Unfortunately, thatâs not how the system works. Patent rights are territorial, meaning your protection only exists in the countries where youâve actively filed and secured it.
So what are your options? We break down the Patent Cooperation Treaty (PCT), a system designed to simplify the process of seeking protection in multiple countries. The PCT doesnât grant you a âglobal patent,â but it does give you valuable timeâtypically up to 30 monthsâto evaluate where your invention should be protected.
We also explore direct national filings, which involve submitting patent applications individually in each country of interest. While this approach can be more immediate, it often comes with higher costs and complexity due to varying legal requirements.
Beyond the mechanics, we talk strategy. How do you decide which countries matter? Should you prioritize manufacturing hubs? Consumer markets? Competitor hotspots? The answer depends on your business modelâand getting it wrong can be costly.
We also tackle common pitfalls, like missing critical filing deadlines or over-investing in markets with little return. And we discuss enforcement challenges, because securing a patent is one thingâdefending it in a foreign legal system is another.
This episode is packed with insights to help you think beyond borders and approach your intellectual property like a global business asset.
Whether youâre just starting out or preparing to scale internationally, understanding how to protect your invention worldwide is essential.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What does it really take to go from high performer⌠to elite?
In this episode of The Inventive Journey, Curtis McCullom shares a powerful and deeply personal story that challenges everything you think you know about success, mindset, and transformation. From his early days as a high school track athlete in Mississippi to becoming the #1 performer in his fieldâand ultimately walking away from a lucrative careerâCurtis reveals the hidden forces that shape our outcomes.
His journey didnât follow a straight line. It started with ambition and discipline, but quickly collided with adversity when a serious injury threatened to end his athletic career. Instead of giving up, Curtis leaned into something most people ignore: the power of the mind. Through visualization and mental conditioning, he not only recoveredâhe achieved his goal of becoming the best in the state.
That experience became the blueprint for everything that followed.
As Curtis transitioned into the business world, he carried that same mindset into sales, rising to the top of his company in record time. But despite financial success and professional recognition, something was missing. Like many high achievers, he reached a point where external success no longer matched internal fulfillment.
So he made a bold moveâhe walked away.
What came next wasnât just a career shiftâit was a complete transformation. Curtis entered the world of coaching, only to discover that traditional methods didnât deliver real results. Surface-level strategies and goal-setting frameworks werenât enough to create lasting change.
Thatâs when he went deeper.
By combining hypnotherapy, neuro-linguistic programming (NLP), and mental/emotional release techniques, Curtis developed a unique approach focused on one core idea: most of our behavior is driven by the subconscious mind.
In fact, only about 5% of what we do is conscious. The other 95%? Itâs automaticâshaped by past experiences, beliefs, and emotional patterns we often arenât even aware of.
This is where most people get stuck.
They work harder. They push more. They try to out-discipline the problem. But if the root cause is subconscious, effort alone wonât fix it.
Curtisâs work focuses on identifying and eliminating these âinvisible blocksââthe hidden barriers that prevent high performers from reaching their next level. His clients arenât beginnersâtheyâre successful CEOs, founders, and entrepreneurs who feel stuck despite doing everything right.
Whether itâs a plateau in revenue, struggles in relationships, or a lack of fulfillment, the common thread is the same: something beneath the surface is holding them back.
And hereâs the surprising partâwhen you address that level directly, change doesnât take years.
It can happen in weeks.
In this episode, Curtis breaks down how subconscious programming works, why traditional coaching often falls short, and what it really takes to create rapid, lasting transformation. He also shares lessons from his own journey, including the importance of resilience, the danger of burning bridges, and why protecting your mindset is one of the most critical skills in business and life.
If youâve ever felt like youâre capable of moreâbut canât quite break throughâthis conversation will give you a completely new perspective on whatâs possible.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What happens when another business files a trademark that looks a little too close to yours? Do you ignore it and hope for the bestâor step in before it becomes a much bigger problem?
In this episode, we break down the trademark opposition process in a way that actually makes sense for business owners. No legal jargon overload, no unnecessary complexityâjust a clear, strategic look at how to protect your brand before confusion hits the market.
Trademark opposition is one of the most underutilized tools in brand protection. Many businesses donât realize they have a limited windowâtypically 30 daysâto challenge a trademark application before itâs registered. Miss that window, and your options become more expensive, more complicated, and far less convenient.
We walk through the full process step by step, starting with how to identify a potentially conflicting trademark. Whether youâre using a monitoring service or keeping an eye on filings yourself, awareness is the first line of defense.
From there, we dive into the Notice of Oppositionâwhat it is, what it needs to include, and why itâs more than just paperwork. This is where your legal argument begins, and getting it right from the start can shape the entire case.
We also explore what happens after you file. The applicant responds, and the case moves into discoveryâa phase where both sides exchange evidence and information. Itâs detailed, structured, and often the longest part of the process.
But hereâs something many people donât expect: most trademark oppositions never reach a final decision. Instead, they settle. We discuss why that happens, what settlement can look like, and how it can actually be a smart business outcome.
Of course, not every situation calls for opposition. We talk about how to evaluate whether a trademark is truly a threat or just a minor similarity that wonât impact your business. Strategic decision-making is key.
We also touch on the risksâmissed deadlines, weak claims, escalating costs, and even reputational concerns if enforcement becomes too aggressive. Trademark opposition is powerful, but itâs not something to approach casually.
Finally, we bring it all back to business strategy. Protecting your brand isnât just about legal rightsâitâs about maintaining clarity in the marketplace and preserving the value youâve worked hard to build.
If youâve ever wondered how to stop a confusing trademark before it becomes a problem, this episode gives you the roadmap.
To chat about this one-on-one, grab a free consult at strategymeeting.com
How similar can trademarks really be before you land in legal trouble? Itâs a question that seems simple on the surfaceâbut quickly becomes complex once you understand how trademark law actually works.
In this episode, we break down the concept of âlikelihood of confusion,â the legal standard used to determine whether one brand is too similar to another. And spoiler alert: itâs not about exact matches. Itâs about perception.
We explore how trademarks are evaluated based on appearance, sound, meaning, and overall commercial impression. That means even if your brand name looks different on paper, it could still create problems if it sounds similar or evokes the same idea.
We also dive into how industry overlap changes everything. Two similar names might coexist peacefully in completely different marketsâbut put them in the same category, and suddenly youâre in risky territory.
Youâll hear real-world-style examples that illustrate how small differences can still lead to big legal headaches. From phonetic similarities to lookalike branding, we unpack the subtle ways businesses accidentally cross the line.
We also talk about the role of brand strength. Established companies with strong recognition often receive broader protection, meaning they can challenge even loosely similar names. This creates a dynamic where newer businesses must be especially careful when naming their brand.
Beyond legal risk, we explore the business implications of trademark similarity. Confusion doesnât just lead to lawsuitsâit can dilute your brand, weaken your marketing, and erode customer trust.
The episode also covers practical steps you can take to avoid trouble. From conducting proper trademark searches to evaluating your brand from a customerâs perspective, we provide actionable insights to help you make smarter decisions.
If youâre launching a new business, rebranding, or just want to make sure youâre not skating too close to the edge, this episode is packed with valuable guidance.
Because when it comes to trademarks, the goal isnât to be almost differentâitâs to be unmistakably distinct.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Trademarking your game name and logo might not be the most exciting part of developmentâbut itâs one of the most critical. In this episode, we break down why protecting your intellectual property is essential in todayâs competitive gaming landscape.
We start with the basics: what a trademark actually is and why it matters. From there, we walk through the full process, including how to conduct a trademark search, choose a strong name, and file your application with the USPTO.
Youâll also learn about the timeline involved. Trademark registration isnât instantâit can take monthsâbut understanding the process helps you plan effectively and avoid unnecessary delays.
One of the key topics we explore is risk. What happens if you donât trademark your game? The answer: potential legal disputes, forced rebranding, and lost opportunities. We share real-world examples of companies that faced these challengesâand what you can learn from them.
We also dive into strategy. Should you trademark early, or wait until your game gains traction? Both approaches have pros and cons, and we break them down so you can make an informed decision based on your situation.
Another important aspect is brand strength. Not all trademarks are created equal. We discuss how to choose a name thatâs not only creative but also legally defensible.
For indie developers, this episode is especially valuable. Limited resources make it even more important to get things right the first time. A strong trademark strategy can save time, money, and stress down the line.
We also touch on international considerations. If you plan to expand globally, trademark protection becomes more complexâbut also more important.
By the end of the episode, youâll have a clear understanding of how trademarking works, why it matters, and how to approach it strategically.
Whether youâre just starting out or preparing to launch, this is information every game developer should have.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What if building wealth had less to do with incomeâand more to do with discipline, structure, and mindset?
In this episode of Inventive Journey, host Devin Miller sits down with Axel Meierhoefer, a former fighter pilot, military exchange officer, consultant, and founder of Ideal Wealth Grower, to explore how the principles of military aviation translate directly into smarter investing and long-term financial independence.
Axelâs journey begins in Germany, where an early fascination with aviation led him into the Air Force. Over the course of his military career, he transitioned from flying to test operations and leadership roles, learning firsthand that success in high-risk environments depends on preparation, planning, and systemsânot improvisation.
After retiring from the military and relocating to the United States, Axel entered the private sector, consulting in the life sciences and pharmaceutical industries. While working with organizations and executives, he noticed a recurring issue: even highly compensated professionals often lacked true financial security. High income, he realized, doesnât automatically translate into independence.
That realization led Axel to investingâand eventually to helping others do the same. Through real estate and strategic asset ownership, he began building predictable, passive income designed to create choice and freedom over time. But more importantly, he focused on helping people shift from an employee mindset to an owner mindset.
Throughout the conversation, Axel explains why many investors give banks and institutions too much power, why risk feels scarier than it actually is when approached without structure, and why emotional decision-making is one of the biggest threats to long-term success. Drawing parallels to aviation, he shows how mission planning, redundancy, and clear objectives reduce uncertainty and improve outcomes.
The episode also dives into the future of mentoring and education. Axel shares his perspective on how AI and content-driven platforms may replace traditional one-on-one coaching models, allowing expertise to scale without sacrificing quality or accessibility.
Whether youâre a high earner who feels stuck, an aspiring investor trying to find your footing, or an entrepreneur thinking about long-term freedom, this episode challenges conventional thinking around money, ownership, and strategy.
This is not a conversation about shortcuts. Itâs about designing a missionâand executing it with discipline.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What if the skills youâve already mastered in a traditional job were enough to build a profitable, flexible business from home?
In this episode of the Inventive Journey Podcast, host Devin Miller sits down with Haylee Gernert, an online business manager who transformed her career from dental office operations into a thriving virtual business. Haylee shares how she leveraged real-world experienceâorganization, communication, systems thinking, and client careâto create a sustainable work-from-home career without hype, hustle culture, or burning out.
Hayleeâs journey began in Northern California, where she entered a dental assisting program straight out of high school. Within days of graduating, she was earning an income while many of her peers were just beginning college. Over the next 15 years, she worked her way through nearly every role in the dental office, from chairside assisting to office management. Along the way, she developed a deep understanding of operations, conflict resolution, and how to make people feel supportedâeven in high-stress environments.
As life changed and family priorities grew, Haylee began searching for a way to work from home. That search led her to the emerging world of virtual assisting. In the early days, virtual assistants were often former executive assistants or office managers working remotely long before it became mainstream. When COVID accelerated the shift to remote work, demand for skilled virtual professionals exploded.
Haylee joined an agency to gain experience and structure, but soon realized she was capable of more than task execution. She wasnât just checking boxesâshe was solving problems, building systems, and thinking strategically. With the encouragement of mentors and clients, she began transitioning into higher-level work as an online business manager.
In this conversation, Haylee breaks down the differences between virtual assistants and online business managers, the pros and cons of working with agencies, and how to know when itâs time to raise rates or step out on your own. She also shares candid lessons about setting boundaries, advocating for your value, and learning to fire clients when necessary.
Youâll also hear Hayleeâs advice for anyone starting a service-based business today, including why networking is one of the most underrated growth tools and how listeningâreally listeningâcan shape your offers more effectively than guessing ever could.
This episode is a must-listen for professionals considering virtual work, freelancers looking to level up, or business owners curious about how online operators actually help companies scale.
To chat about this one-on-one, grab a free consult at strategymeeting.com
In this episode of the Inventive Journey, host Devin Miller sits down with Abraham George, a man whose life proves that survival can be transformed into strategyâand strategy into lasting impact.
Abrahamâs journey begins in the Indian military, where at just 18 years old he was stationed along the Chinese border at 14,000 feet above sea level. While serving as an artillery officer, he narrowly survived a deadly dynamite explosion. That moment didnât just change his career pathâit reshaped his entire philosophy on purpose, service, and long-term thinking.
Rather than rushing into answers, Abraham chose patience. He came to the United States in the late 1960s, studied at New York Universityâs Stern School of Business, and earned advanced degrees in international finance and developmental economics. After a brief but valuable experience at JP Morgan, he realized that a comfortable salary would never give him the leverage needed to address the deeper social issues he cared about.
So he built his own company.
At a time when computers were rare and startups had no safety nets, Abraham founded a financial risk-management software business. The first decade was brutally difficultâfinancially, emotionally, and professionally. He taught college courses at night, supported a growing family, and slowly refined a product the market wasnât quite ready for yet.
The second decade brought traction. The final five years brought a breakthrough.
His company grew from three people working out of a basement into a global market leader with offices across the United States and Europe, eventually employing more than 150 people. When Abraham reached the point he had planned for decades, he exited the businessânot to retire, but to begin his true mission.
That mission was education.
Using his own capital, Abraham moved to a remote village in India and founded a residential boarding school for children living below the poverty line. His approach rejected short-term charity in favor of long-term commitmentâsupporting each child from age four through college and into their first career. It was an 18- to 19-year intervention designed to break generational poverty from the bottom up.
Today, his schools educate hundreds of students at a time, with graduates now working at companies like Microsoft, Ernst & Young, and ExxonMobil, and others studying in top universities around the world. His work challenges conventional thinking about philanthropy, proving that structure, discipline, and patience matter just as much in service as they do in business.
Abraham also openly shares his failuresâoverexpansion, the dangers of running organizations as a one-person show, and the financial devastation of the 2008 crisis. Those lessons reinforce a central theme of this episode: whether in business or philanthropy, systems matter more than ego.
This conversation is a powerful reminder that success doesnât have to end at the exitâand that entrepreneurs willing to think long-term can build businesses that fund impact far beyond themselves.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Innovation rarely moves at a single speed. Some industries reward patience, structure, and decades-long planning. Others demand rapid experimentation, constant iteration, and a tolerance for uncertainty. Few founders understand both worlds firsthandâbut Larissa Schneider does.
In this episode of Inventive Journey, host Devin Miller sits down with Larissa to unpack a career that spans continents, industries, and radically different innovation timelines. From working in aerospace at Airbusâwhere products can take 20 to 30 years to reach the marketâto building and scaling an AI startup to nearly 100 people in under two years, Larissaâs journey offers powerful lessons for modern founders.
Born and raised in a small town in Germany, Larissa developed an early desire to experience the world beyond familiar borders. That curiosity took her to Australia for high school, the UK and France for university, and eventually into large multinational organizations. Along the way, she gained exposure to international teams, multiple languages, and the discipline required to operate inside massive enterprises.
At Airbus, Larissa learned what âslow innovationâ really means. Precision matters. Long-term thinking isnât optional. And mistakes carry enormous consequences. While those lessons built rigor and patience, they also revealed a mismatch between the pace of the industry and the kind of impact she wanted to make.
That realization led her to the Bay Area and into the startup ecosystem, where speed and experimentation define success. There, Larissa experienced the other extremeâshipping fast, learning in real time, and seeing results almost immediately. The contrast reshaped how she thinks about building companies, teams, and products.
During COVID, she made another intentional pivot into cybersecurity, seeking both challenge and purpose. It was in that environmentâalongside her future co-foundersâthat she witnessed the sudden rise of large language models. While consumers adopted AI tools almost overnight, businesses struggled to unlock real value. That gap sparked the idea for Unframe.
Today, Unframe has grown rapidly across multiple continents, serving customers who return again and again as the platform expands across teams and departments. Larissa shares candid insights on what made that growth possible, including early hiring mistakes, the danger of over-polishing before demand exists, and why founders must be honest about the level of commitment startups require.
She also offers advice that isnât always popular but is deeply practical: startup life isnât compatible with half-measures. The work is intense, the boundaries are thin, and the tradeoffs are real. But for those who choose it intentionally, the learning and momentum can be unmatched.
This conversation is a must-listen for founders navigating AI, global teams, and fast-moving marketsâespecially those trying to balance speed with long-term discipline.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Every Big Law attorney eventually faces a defining momentâwhether they talk about it openly or keep it quietly tucked away. Itâs the point where the partner track feels closer than ever, yet somehow less appealing. Titles loom. Expectations shift. Compensation math stays murky. And the question becomes unavoidable: Is this really what success looks like?
In this episode of Inventive Journey, host Devin Miller sits down with attorney Matthew Fornaro to explore that exact crossroads. Matthew shares his candid journey from Big Law associate to firm owner, unpacking the realities most attorneys donât learn until theyâre already deep inside the system.
The conversation pulls back the curtain on partnership economicsâhow bonuses are calculated, why firm-wide performance can outweigh individual results, and how âmaking partnerâ often comes with strings attached that arenât discussed in recruiting brochures. Matthew explains why the prestige of Big Law doesnât always translate into autonomy, clarity, or control.
From there, the discussion shifts to what happens when attorneys choose the exit ramp. Starting a firm doesnât mean instant freedomâit means responsibility. Revenue resets to zero. Systems disappear. You become the attorney, marketer, operations manager, and strategist all at once. Matthew walks through what those early years actually look like, including lean periods, uncomfortable learning curves, and the slow process of building momentum.
A major theme of the episode is the business education gap in law. Law school teaches legal analysis, not client acquisition or firm management. Matthew shares how targeted entrepreneurship programs and hands-on experience helped him close that gap, turning trial-and-error into systems and sustainability.
Technology also plays a key role in modern firm ownership. Matthew discusses how toolsâespecially when used responsiblyâcan dramatically reduce overhead, improve efficiency, and allow solo and small firm attorneys to compete without recreating Big Law infrastructure. Heâs also clear about the limits: AI is a tool, not a replacement for judgment, and careless use can do real damage.
This episode isnât antiâBig Law. Itâs proâintentional decision-making. Some attorneys thrive on the partner track. Others realize that ownership, flexibility, and equity matter more than titles. The real risk isnât choosing one path over the otherâitâs drifting into a future by default.
If youâre an attorney questioning the long-term tradeoffs of partnership, curious about firm ownership, or simply trying to define success on your own terms, this conversation offers an honest, grounded perspective from someone whoâs lived both sides.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Paige Arnof-Fennâs entrepreneurial journey didnât start with a business plan â it started with curiosity, courage, and a willingness to pivot. In this episode of Inventive Journey, Paige shares how she went from Wall Street financial analyst to building a 24-year global marketing firm by trusting her instincts and leaning into what she loved most.
Raised in a family of bankers, Paige assumed finance was her destiny. After earning a degree in economics, she landed on Wall Street and quickly realized that while she was good at the work, it didnât energize her. A single conversation changed her career trajectory when a colleague pointed out that everything Paige enjoyed about banking â planning events, managing promotions, and shaping perception â was actually marketing. That insight led her to business school, where she discovered a natural talent that reshaped her future.
Paige went on to work at iconic companies like Procter & Gamble and Coca-Cola, gaining world-class training in branding, positioning, and strategy. But when the internet boom of the late 1990s arrived, she took a risk that surprised everyone around her. Leaving behind corporate stability, Paige joined early-stage startups where speed, experimentation, and direct customer feedback ruled the day. Those experiences rewired how she thought about growth and innovation.
After three successful startup exits, the events of 9/11 abruptly changed the business landscape. Marketing budgets disappeared, companies panicked, and uncertainty ruled. Instead of stepping back, Paige leaned forward. Her network of founders, investors, and executives reached out for help â and she said yes. Without writing a business plan or opening an office, she began connecting great people with real problems that needed solving.
That decision led to the creation of Mavens & Moguls, a virtual marketing firm built decades before remote work became mainstream. Paige scaled the business organically through relationships and referrals, assembling a global team of experts who could move fast and adapt to change. The firm survived the dot-com crash, the Great Recession, and COVID by staying lean, flexible, and focused on results.
In this conversation, Paige also shares hard-earned leadership lessons â including when loyalty can hold a business back, why culture matters more than titles, and how building the right team is essential for long-term success. She explains why branding is no longer optional and why everyone, not just celebrities, is a brand in todayâs digital world.
This episode is packed with insights for founders, marketers, and anyone navigating career pivots. Paigeâs story proves that success doesnât always come from careful planning â sometimes it comes from being brave enough to follow what feels right and smart enough to evolve when the world changes.
To chat about this one-on-one, grab a free consult at strategymeeting.com
What if your biggest business failure turned out to be your most valuable leadership lesson?
In this episode of The Inventive Journey, host Devin Miller sits down with Robert White, a seasoned entrepreneur, trainer, and executive coach whose career spans decades, continents, and more than a few hard-earned wake-up calls. Robertâs story isnât polished for headlinesâitâs honest, uncomfortable, and deeply instructive for founders, executives, and anyone building something that involves people.
Robert grew up in poverty and discovered early success as a teenage radio personality in Wisconsin. By most external measures, he was âwinningâ early in life. But momentum without maturity has a cost. Within a decade, Robert found himself broke, divorced, and recovering from three heart attacks before the age of 25. His health, relationships, and career were all under strain.
The turning point didnât come from a new business strategy or a better product. It came from a personal reckoning. After attending a human-potential seminar, Robert was forced to confront how his own behavior, mindset, and lack of accountability were getting in the way of success. That shiftâfrom blame to responsibilityâbecame the foundation for everything that followed.
Robert went on to build and lead major training organizations, including Lifespring in the U.S. and Arc International in Asia. Across multiple companies, more than 1.4 million people graduated from programs he founded or led. At the height of success, Robert had wealth, influence, and optionsâincluding an unsolicited acquisition offer worth tens of millions of dollars.
And then came the decision that changed everything.
Believing systems could replace leadership, Robert stepped away too early. Thought leadership faded. Culture weakened. The business unraveled. The financial loss totaled $30 millionâa number that still stings, but taught a lesson far more valuable than money.
In this episode, Robert and Devin dive into what really caused that collapse, why culture cannot be delegated, and how founder absence impacts people-driven organizations. They also discuss due diligence failures, the danger of comfort, and why âjust startâ remains one of the most powerful pieces of advice for entrepreneurs at any stage.
Today, Robert works with executive teams and leaders, helping them align culture, accountability, and strategy so success doesnât implode from the inside. His insights are especially relevant for founders navigating growth, exits, or the temptation to step away too soon.
If youâve ever wondered when to hold on, when to let go, or how to rebuild after a major setback, this episode delivers clarity without sugarcoating the truth.
To chat about this one-on-one, grab a free consult at strategymeeting.com
Yuri Cataldoâs journey is proof that innovation favors the adaptable.
Trained at Juilliard and Yale Drama School, Yuri began his career designing for Broadway and film. When the 2008 financial crisis disrupted the arts, he pivoted â teaching, waiting tables, and launching a bottled water startup from rural Indiana.
Through storytelling-driven marketing and early digital testing, the brand landed in Whole Foods, earned international recognition, and gained national exposure before regulatory barriers forced its closure.
Rather than retreat, Yuri leaned into entrepreneurship education, ran a nearly $1M crowdfunding campaign, and ultimately joined Autodesk. Today, he operates inside Autodesk Research, analyzing AI competitors and helping teams distinguish real innovation from marketing noise.
This episode explores resilience, creativity, marketing ownership, and the legal realities founders often overlook.
đ§ Listen now â and discover more at lawwithmiller.com.
Entrepreneurship rarely starts with a perfectly crafted business plan â and Luis Derechinâs journey proves it.
In this episode of Inventive Journey, Devin Miller sits down with Luis to unpack more than 40 years of real-world entrepreneurship, beginning with a childhood hustle selling Mexican candy across borders and evolving into multimillion-dollar businesses, venture-backed tech, and global workforce strategy.
Luis was born in Mexico and raised in Southern California, moving fluidly between cultures at an early age. That cross-border exposure shaped his instinct for spotting opportunity. His first business ended in the principalâs office, but the lesson stuck: when thereâs demand, someone will fill it â and smart entrepreneurs pay attention early.
As a young adult, Luis partnered with his father to build an import-export company, sourcing housewares from Europe and Asia and distributing them throughout Mexico. The business grew rapidly, only to be nearly wiped out during Mexicoâs devastating economic crisis in the mid-1990s. Instead of walking away, Luis rebuilt â launching a direct sales organization that scaled even larger and taught him the realities of incentives, logistics, and leadership at scale.
In the early 2000s, Luis caught what many entrepreneurs recognize as âthe tech bug.â He helped build what became Mexicoâs first startup to raise U.S. venture capital, eventually relocating to the United States and serving in executive leadership through years of intense growth and, ultimately, acquisition. The experience exposed him to the pressures of venture funding, global teams, and the operational discipline required to survive in fast-moving tech environments.
Today, Luis focuses on nearshoring and offshoring strategy, helping companies avoid the costly mistakes heâs seen â and made â when building teams across borders. Heâs also the author of a book detailing where companies go wrong and how founders can approach global expansion with clarity instead of shortcuts.
This episode isnât about overnight success or startup hype. Itâs about durability, reinvention, and understanding that entrepreneurship is a long game shaped by economic cycles, culture, and execution.
If youâre building, scaling, or expanding internationally â or recovering from setbacks â Luis Derechinâs story offers grounded, hard-earned insight you can apply immediately.
To learn more about protecting your ideas, brands, and innovations as you grow, visit lawwithmiller.com.
đď¸ Listen now and discover what four decades of entrepreneurship really teaches.
Every entrepreneur has a moment that changes everything â and for Trapper Roderick, that moment happened on a rooftop in high school, sheeting a house while his dad was out of town. That early taste of responsibility sparked a lifelong love of building⌠even if his path took a surprising detour along the way.
In this episode, Trapper walks through his remarkable journey:
đ learning construction from his father and grandfather,
đ diving into college entrepreneurship,
đ running a global custom suit business,
đ returning to construction during COVID, and
đ building a respected luxury contracting brand.
The suit business came from a single frustrating moment â when no tailor would make what he wanted. So he created it himself, sourcing manufacturing overseas, designing bold marketing campaigns, and working with athletes and executives nationwide. It grew fast, gained media attention, and made him a recognizable name in custom fashion.
But even with all the success, he knew construction was home.
During the pandemic, while the world paused, Trapper pivoted back. He sold his suit company and launched Roderick Builders, starting with remodels, then modular work, and eventually high-end custom homes and spec projects. His family legacy in the industry, paired with modern systems and social media presence, fueled rapid growth.
What sets Trapper apart is his passion for elevating the entire construction field. Through the Contractors Coalition, he works with other builders to share contracts, improve pricing models, and raise industry standards. Heâs also educating clients â helping them understand the real cost, value, and trust required to build a truly custom home.
His reflections on burnout, financial discipline, and the emotional weight contractors carry offer powerful insight. And his forward-looking vision â expanding into more spec homes, attracting aligned investors, and shaping better industry practices â shows a leader committed to long-term impact.
If youâre an entrepreneur navigating a pivot or building something new, this episode will remind you:
The right path isnât always the first one. But itâs the one that keeps calling you back.
Dive in and hear Trapperâs full journey â itâs a story of clarity, courage, and building a life aligned with real passion.
When Jacob Dean looks back on his career, the through-line isnât a straight path â itâs a steady climb built on curiosity, discipline, and the courage to rethink what success should look like. Raised in Northeast Ohio in a family of educators, Jacob grew up with a traditional definition of stability: find a good job, work hard, and build a dependable life. Entrepreneurship wasnât part of the conversation. Yet over time, Jacob discovered that he was drawn to something bigger â the intersection of law, business, and strategy.
After majoring in finance, Jacob chose law school at a time when the economy was uncertain and job prospects were slim. But that step opened the door to a series of defining opportunities: working in the tax department at Procter & Gamble, clerking for the U.S. Tax Court, completing an LLM at Georgetown, and gaining meaningful experience in both law firm and in-house roles. Each chapter gave him new layers of expertise â tax structure, corporate operations, nonprofit compliance, and business management.
Despite the steady progression, something deeper was brewing. Jacob realized that what energized him most wasnât just the practice of law â it was understanding how businesses run, how decisions get made, and how structure shapes success. He enjoyed the legal work, but he felt most at home thinking like an operator and strategist.
Then came a turning point: turning 40. Instead of seeing it as a crisis, Jacob treated it as a moment of reflection â a chance to pause long enough to ask, What do I want the next decade to look like? The answer was clear: it was time to build something of his own.
With support from family and colleagues, Jacob made the leap into entrepreneurship and launched his own firm. Unlike many attorneys who see the business side as a distraction, Jacob embraces it. He believes law firms should operate like true businesses â strategic, structured, and growth-minded â rather than relying on outdated norms or reactive hiring. His combined experience in tax and corporate law gives him a unique ability to help founders avoid pitfalls and build with intention.
In this episode of The Inventive Journey, Jacob shares the decisions that shaped him, the pressure he once felt to take opportunities out of fear, and the mindset shift that now guides his career. He talks openly about learning to trust himself, redefining what a âsuccessfulâ legal career looks like, and why entrepreneurship still excites him every day.
His advice for new founders is refreshingly simple: get good help. Whether youâre forming a company, raising capital, managing risk, or planning for growth, trying to do everything alone can cost far more than it saves. Good advisors, good structure, and good decision-making create the runway that businesses need to thrive.
Jacobâs story isnât just about leaving a job â itâs about stepping into a role he was already preparing for through every chapter of his career. Itâs a reminder that experience compounds, reflection matters, and itâs never too late to build a business on your own terms.
Discover how entrepreneur Jon Stamell built a multimillion-dollar agency, consulted CEOs, and now leads AI innovation to uncover the motivations behind customer behavior. From Detroit to global trade shows to pioneering psychographic AI, Jonâs journey is a masterclass in reinvention, curiosity, and strategic thinking.
â Learn the biggest mistakes he made, the insights he gained, and his best advice for todayâs founders.
In this episode of The Inventive Journey, host Devin Miller interviews Kristie Jones, a sales strategist who turned her early experiences in athletics, hospitality, and SaaS leadership into a consultancy helping startups build strong sales foundations.
Kristie shares why waiting tables taught her more about sales than any corporate role, how she navigated multiple reorganizations, why startups mis-hire so often, and how AI is transforming go-to-market strategy forever.
Perfect for founders, sales leaders, and anyone building a modern revenue engine.
đď¸ Overcoming Trauma Through Art â Lisa Lappi
In this deeply moving episode, artist and creative storyteller Lisa Lappi opens up about losing her father at 17, navigating grief and addiction, rebuilding her life through creativity, raising a family through military deployments, and becoming an award-winning artist.
Lisa discusses trauma, recovery, education, military family life, and the power of art to help rebuild identity.
A powerful and emotional journey filled with resilience, reflection, and reinvention.
⨠Creative Roots to Fractional CMO â Denine Harper
In this Inventive Journey episode, Devin Miller talks with Denine Harper about her unusual and inspiring career path. From early motherhood to 3D animation, Manhattan agency life, the .com boom and crash, and the shift into brand marketing and fractional CMO work â Denineâs story is packed with lessons on resilience and reinvention.
Great for founders, creatives, and anyone navigating a career pivot.
đď¸ Tune in for practical insights, inspiration, and real talk about building a creative career in a changing digital world.
đ In this Inventive Journey episode, Richard Turcott walks us through his path from Liberal Arts major to seasoned marketer, dot-com operator, CMO, and now small-business consultant. Learn how clarity, fundamentals, and internal collaboration shaped his careerâand why he now empowers small businesses through Collaborative Growth Partners.
đ Topics include marketing fundamentals, clarity of customer, startup experiences, big mistakes, leadership lessons, and scaling with limited resources.
đ Connect with Richard at collaborativegrowthpartners.com
đď¸ Want to be a guest? inventiveunicorn.com
âď¸ Need patents or trademarks? strategymeeting.com
đď¸ From broadcast dreams to corporate healthcare to a purpose-driven agency, Jaime Ellithorpe shares how mindset, marketing, and intentional systems built a reliable LinkedIn pipeline.
⨠Highlights: quitting without âthe moment,â finishing one system, side-hustler strategies, and her Triple-M framework.
đ Guest: 540strategies.com ⢠jaimeellithorpe.com
âĄď¸ Be a guest: inventiveunicorn.com
đ ď¸ Patents & trademarks: strategymeeting.com
đď¸ Join Devin Miller on The Inventive Journey as he chats with Jeremy Ames, a former teacher-turned-real-estate-entrepreneur who discovered success through adaptability, mentorship, and self-awareness.
đ¨âđŤ From Teaching to Entrepreneurship:Jeremy began his career path in education, but quickly realized the classroom wasnât where his long-term passion lay. After navigating early uncertainty, he transitioned into the restaurant industryâan environment that tested his leadership, problem-solving, and business instincts.
đ The Leap into Real Estate:
A key conversation with a mentor inspired Jeremy to explore real estate investing. Through hands-on experience with an investment group, he learned the ropes and recognized untapped opportunities in retirement account-based property investments.
đĄ Key Lessons for Entrepreneurs:
⨠Embrace self-awarenessâknow when to pivot.
⨠Leverage mentors for real-world learning.
⨠Stay flexible when plans change.
⨠Build confidence through action, not perfection.
đ The Takeaway:
Jeremyâs story is a blueprint for anyone questioning their current career path or wondering if itâs too late to start something new. His journey proves that with curiosity, resilience, and a willingness to evolve, new opportunities are always within reach.
đ§ Tune in now to hear how Jeremy turned uncertainty into a thriving real estate careerâand how you can apply his principles to your own entrepreneurial path.
đ Meet Dianne D. Campbell, a powerhouse who transitioned from decades in corporate tech sales with Fortune 50 companies to founding her own business,Your Productivity Pros.
đ Her JourneyDianneâs career began at Long Beach State University, where she earned her degree in business and marketing. After discovering her passion for connecting people and solutions, she pursued a career in sales â eventually becoming a key player during major waves of tech transformation.
đź From Corporate to CreatorAfter years of helping top companies thrive, Dianne recognized a pivotal truth: longevity in corporate life often has an expiration date. Over 50 and ready for her next challenge, she leveraged her experience, resilience, and insight to build a company helping small businesses streamline processes and uncover hidden profit.
đ Pivots and PersistenceLaunching a startup came with rapid learning curves â three major pivots in less than a year. Each iteration refined her business focus as she learned from market shifts, client feedback, and the ever-changing landscape for small businesses.
đ Her MissionToday, Dianne helps small businesses grow smarter by documenting processes, optimizing SOPs, and building systems that scale. She believes in helping founders âfall in love with structureâ â because structure unlocks profit.
đŹ Key Insights from Dianneâs Journey:
⨠Keep moving forward even when uncertain.
⨠Trust instincts â red flags matter.
⨠Great opportunities still require due diligence.
⨠Tenacity beats talent if you donât stop.
⨠A shiny offer means nothing without a solid foundation.
đĄ What Youâll Learn in This Episode:
đŻ Why sales is one of the best business skill sets.
đ How to turn corporate expertise into entrepreneurial independence.
đ§ Why SOPs and process design drive small business profitability.
đĽ How to keep adapting even when you think youâve âfigured it out.â
đ Connect with Dianne:
đ Website: yourproductivityprosp.com
đź LinkedIn: Dianne D. Campbell
In this episode of The Inventive Journey, host Devin Miller talks withDarrin Wurz, a former high school science teacher who transitioned into the world of finance and became a trusted advisor to law firm owners.
Darrin shares how his early passion for education and curiosity led him from teaching ninth-grade biology in Cincinnati, Ohio, to building a successful financial advisory business that serves attorneys nationwide. After years in the classroom, Darrin faced burnout and began seeking a new challengeâone that would allow him to help others, apply his analytical mind, and build something lasting.
He went back to school, earned a degree in finance, andâwithout a client baseâput a sign in his front yard. Through networking, marketing experimentation, and persistence, he slowly built a thriving practice. His firm grew through authentic relationships and strategic positioning, eventually niching down to serve law firms. Today, Darrinâs clients rely on him not just for numbers but for insight, growth strategy, and financial mentorship.
Darrin also discusses writing his first book, launching his own podcast, and the ongoing process of refining his business model to meet professional clientsâ needs. Listeners will gain valuable insights on career transitions, business growth, and the power of niching down.
đď¸ Topics Covered:
- Transitioning from teaching to entrepreneurship
- Building a financial firm from scratch
- Finding and refining your niche market
- Lessons learned from serving attorneys
- Balancing passion with sustainability
If youâve ever considered reinventing your career or are looking to scale your professional service business, Darrinâs story offers clear, practical wisdom on how to make that leap confidently.
Avy Schondorfâs inventive journey is one of adaptability, insight, and purpose. From social services and nonprofit fundraising in Israel to founding a U.S.-based virtual assistant agency, Avyâs story illustrates how resilience and systems thinking can turn disruption into innovation. After relocating from Israel to the U.S. just before COVID-19, Avy transformed uncertainty into opportunity by identifying a powerful niche: supporting neurodivergent entrepreneurs through Alisto, her specialized virtual assistant agency. In this conversation, Avy unpacks lessons on leadership, adaptability, self-awareness, and how to build a business that serves a communityâs unique needs.
Discover why structure is essential for creativity, how systems free people to focus on impact, and why charging for your value is non-negotiable. Whether youâre a startup founder, service provider, or lifelong learner, this episode will change how you think about growth, neurodiversity, and business design.
Annie Davisâ career began far from boardrooms and tech startups â it started at IKEA and McDonaldâs. In this episode of The Inventive Journey, host Devon Miller sits down with Annie to explore how her bold move from Reno to Utah on a whim evolved into a thriving entrepreneurial career.
Annie shares how she learned to lead teams across borders, embrace remote collaboration long before it was mainstream, and grow from project manager to CEO in a digital development firm. Her story is one of fearless adaptability, pragmatic leadership, and turning challenges into streamlined systems â including her âone-touchâ policy for productivity that helped her scale a web business efficiently.
Listeners will gain insights into:
- Building business structure before burnout.
- Managing global teams remotely with empathy and precision.
- The art of balancing process and passion in startup life.
- Buying back your own company â and why doing so can be your smartest move.
If youâre a startup founder or small business owner ready to refine your operations and culture, Annieâs practical journey will resonate.
Be motivated to truly understand what youâre getting into, because in the beginning, all the focus will be on you. If itâs something youâre passionate aboutâsomething you genuinely care for and love doingâmake sure you have a clear understanding of what that journey involves.
My single, non-negotiable rule is simple: listen more than you speak. Equally important for anyone entering business is to understand that government is typically not an ally. Speaking from years of experience buying and selling a wide range of businesses â car washes, gas stations, convenience stores, development and operating companies, trucking firms, woodworking shops, and more â Iâve found government involvement often creates friction for entrepreneurs. Its focus tends to be on compliance and oversight, not on fostering individual business success.
Iâve learned that businesses rise and fall with people, not spreadsheets. When I started with a couple of partners, those relationships proved invaluableâmentorships, the right connections, the right centers of influence. You canât figure it all out on your own. Thereâs a saying: nobody cares how much you know until they know how much you care. That applies to both your internal team and external partners. If you want to build something lasting, you need to show genuine careânot just impress people with numbers or how smart you are.
Many startup CEOs and entrepreneurs often get stuck on their first idea, treating it like their baby. They hold onto it for too long, draining resources and relationships instead of adapting. The key is to listen to the market and your customersâtheyâll guide you in the right direction. Pivoting or iterating isnât failure, even if it feels that way at first. Itâs simply a shift in mindset toward growth.
Forget about having a traditional work-life balance. Iâve heard this echoed by many other startups and small business owners, and even a few well-known entrepreneurs. Personally, I set boundaries on only a handful of thingsâlike my birthday and Christmasâbut beyond that, most of my âsocial lifeâ happens at conferences or networking events. I often work weekends, and itâs not unusual for me to be up working until 3 a.m. The night-owl side of me, probably the astrophysicist in me, makes that routine feel almost natural.
A key rule of thumb is to test as much as possible before officially launching. Market research can be trickyâasking people âWould you come if I opened an Italian restaurant here?â doesnât always give reliable answers. But for certain types of businesses, especially low-cost ones like cleaning services, you can start small and validate demand right away. Go out, find a few clients, and talk directly to potential customers. Many businesses allow you to do this kind of groundwork, reducing risk before you fully commit to launching.
If youâre starting a business for the first time, one of the most important steps is to carefully decide what kind of product or service you want to offer. Take the time to really think it through and brainstorm your ideas thoroughly.Many people see an opportunity and jump in right away without proper preparation. They often donât fully understand why they are selling a particular product or offering a certain service. This lack of clarity can lead to problems later on.Thatâs why the most crucial step is to deeply consider what youâre offering, why youâre offering it, and how it will provide value to others before you move forward.
If you're just starting a startup or small business, the most important thingâbased on my experience and those I've worked withâis to focus entirely on your product or service. Whether you're offering a service, selling a physical item, or building a SaaS platform, make sure it's something people genuinely want. Then, identify exactly who those people are. Spend 99% of your time refining your product or service and understanding your target audience.
My biggest advice to anyone starting out is to avoid setting expectations for how long it will take to experiment and find your footing. Unless you're following a franchise model, no one has done exactly what you're trying to doâso thereâs no set timeline. And since time is money, the more you can explore, test, and learn while working another job or having some financial support, the better. Giving yourself that buffer will allow you to figure things out before fully going to market, which can make a huge difference in your success.
Don't start coding, hiring, or building anything until you've sold the idea. Your first job is to talk to potential customers, deeply understand their problems, and validate that a real solution is needed. This is a lesson Iâve learned over multiple venturesâthis being my third. In fact, we didnât write a single line of code until we had a signed contract in hand. That shift has fundamentally changed our company culture: we stay commercially focused, but always grounded in solving real problems. Itâs not about pushing my idea onto the worldâitâs about listening to the world and building what it actually needs. So, always sell first. Get proof that someone is willing to pay before you start creating.
One of my mentors shared something I always come back to â it comes down to three key things. First, self-motivation. Youâve got to have that inner drive to go after what you truly want. Second, prioritization. You need to know what matters most and what can wait. And third, mentorship. Find someone you trust, someone who can guide you. And along the way, donât forget to trust yourself too â if something feels off, listen to that instinct.
The rule of thumb I followedâand one I still believe inâis that it's perfectly fine to change direction, to explore different paths, or even juggle multiple interests at once. If you donât have everything figured out from the start, thatâs completely okay. What matters most is getting out there and gaining real experiences. Donât fear trying, and donât fear failing. Every attempt, every bit of exposure, teaches you something newâand it's that very exposure that will eventually lead you to your passion.
Keep tryingâbecause you're going to hear a lot of "no's," and the key is to get comfortable with rejection. I even have a note taped to my desk that says, "Try to get rejectedâto get over the fear of being rejected." As an entrepreneur, especially in the beginning, you'll face resistance and doubt, often from others and sometimes from yourself. But success comes from showing up over and over again, even when it feels like no one believes in you. Persistence is what separates those who make it from those who give up. You only truly fail when you stop tryingâso keep going.
You know, itâs different for everyone, but a good starting point would be reading the book Emotional Intelligence. Itâs a great introduction to understanding EQ. If you donât really know who you are â and many people donât, especially when starting a business in their 20s â take time to explore that. Talk to the people around you. Ask them how they perceive you. What do they think are your biggest weaknesses? Itâs not always easy to hear, but getting that honest feedback early on can save you a lot of trouble later.
Follow your heart and trust your instinctsâtheyâre often more powerful than you realize. Iâve always had a strong gut feeling about the things I pursue, a sense that tells me, âThis needs to happen, this will work.â When Iâve shared my ideas with others, the response has been overwhelmingly positiveâpeople are often surprised and inspired, saying they never thought of it that way. That kind of validation is encouraging, but it starts with knowing what truly drives and excites you. Figure out what youâre passionate about, what youâre naturally good at, and what energizes you. Then, surround yourself with the right people who believe in the vision and can help you bring it to life.
If there's one key piece of advice I'd give to anyone in business or entrepreneurship, it's to beware of the tyranny of the nowâthe intense pressure of immediate problems like a lost contract, a team member leaving, or an unexpected crisis. These challenges feel overwhelming in the moment, but they are temporary. Don't let short-term pain lead to emotional decisions that could harm your long-term vision. Instead, stay focused on why you startedâyour original dream, belief, and purpose. The present will pass, but your future is still in your hands. Handle the moment, but donât let it define you.
Stay liquid â hold on to as much cash as possible. If you're ready to go all in, be prepared to make serious lifestyle adjustments â even something as extreme as crashing on a friend's couch with just a sleeping bag. You need to fully grasp that whatever you're planning for your business â the launch, the execution, everything â will likely take longer, cost more, and face more uncertainty than you expect.Expect delays. Expect higher costs â for materials, labor, permits, and everything in between. The market is volatile, with unpredictable factors like tariffs, labor shortages, and regulatory slowdowns.Talk to someone who has been through exactly what you're about to do. Ask them how much additional risk they see in todayâs environment. Learn from their experience â and move forward with caution.
Get really good at listening to your own gut. You're going to receive a lot of adviceâeveryone will be convinced they know exactly what you should do next. Some of that advice might be valuable, but I always take everything with a grain of salt. Whatâs more important is learning to pause and tune in to your own instincts.We're actually in one of those moments right nowâa bit of a pivot, a shift in focus. And instead of speeding up or seeking even more input, what I really need to do is slow down, step back, reflect, and listen closely to myself. Itâs about thinking things through and making sure I feel truly confident about the direction weâre taking.
I donât want to pretend like I know how every business worksâbecause I donât. But in my experience, with my own business, I truly believe the most important thing is being fully present. You have to live in the business. I just donât see how this can be done remotely. Even if it could, I think thereâs so much valueâin terms of company culture and team moraleâin working alongside your people. If a truck shows up and there's a lot of work to do, you jump in and help unload. If thereâs trash on the floor, you pick it up. As a business owner, you lead by example.
I'd suggest ignoring the common advice in business culture that tells you to hack your time, boost productivity, or master time management. Instead, shift your focus to managing your energy. That change made a profound difference in my life. So many of us are walking around nearly depletedâburned out, overwhelmed, and under constant stress. The real antidote isn't doing more or achieving more, but figuring out how to stop the energy leaks and restore what fuels us.
There are two books I always recommend to entrepreneurs just starting out, and one of them is Profit First by Mike. The book is a game-changer. Coming from the corporate world, I had a traditional mindset about finances, but this book completely flipped that perspective. It taught me to prioritize profit from day one and helped me restructure how I manage cash flow and budgets in my business. The core takeaway for me was that if I'm running a business, the goal is to pay myselfânot just cover expenses. It really drove home the importance of having a solid handle on your cash, because no matter how brilliant your idea is, if you run out of money, you're done.
I strongly advise anyone in business to pay close attention to both internal and external factors. Your internal state significantly impacts how you present yourself in business, from pricing discussions to interactions with team members, freelancers, and contractors. What I mean by this is simpleâdo the work. Invest in yourself by hiring a coach, whether it's a business coach, branding coach, or life coach. I've been fortunate to work with various coaches, and their guidance has directly shaped the way I show up and perform in my business.
Staying organized in your business is crucialâwhether it's managing finances, streamlining operations, or preparing for future team growth. Keeping yourself structured ensures efficiency and clarity.At the same time, donât be afraid to experiment. However, it's essential to track the results of those experiments. For example, if you're investing $2,000 a month in marketing, regularly assess its effectiveness rather than assuming it's working. Similarly, don't blindly trust someone just because they claim to be an expertâverify their expertise.Many businesses, even large ones, fall into the trap of making assumptions. They assume strategies will work, that hires are competent, or that expenses are justified, without proper evaluation. Avoiding these assumptions and staying analytical can make a significant difference in your success.
Fail fast and learn quickly. Donât get attached to your ideaâget attached to success. Focus on your customers, not just the idea itself, because ideas evolve. Who you are today wonât be the same as who youâll become if you succeed.
Keep communicatingâbecause no business thrives in isolation. You need customers, and they need to hear from you. You often rely on partners, whether they are employees, suppliers, or collaborators in government or other sectors. Your family and friends also play a crucial role in your journey. The key is to ensure alignment between your actions and their expectations. Miscommunication or misalignment is what leads to conflict. So, if there's one essential principle to follow, it's this: keep communicating.
Have as many conversations as possible and get comfortable doing so. The sooner you adopt this mindset and openly discuss your ideas, the more clarity you'll gain. Talking things through with others helps refine your thoughts, gather valuable feedback, and shape your plans effectively. Additionally, it increases visibilityâpeople will recognize you, understand what you're working on, and spread the word. The earlier you embrace this approach, the better. Many get caught up in the building phase, assuming that simply creating something will attract attention. But in most cases, success requires proactive outreach and engagement.
Be extremely intentional when hiring and managing your team. Avoid compromising on talent just to fill positions quickly. It's tempting to think, We need more people because we're growing fast, but hiring the wrong people can be more detrimental than having fewer, highly capable individuals. A strong, lean team will always outperform a larger, less effective one. In fact, I believe that at IQ, we're achieving far more now with fewer people than we did in the past.
When starting a business today, it's essential to understand that people buy from people, and they love to buy. More than just products or services, they buy into stories. For someone to purchase from you, two things must be true: they need to know you and trust you. The best way to achieve this is by building a strong personal brand and crafting a compelling signature story. This not only helps you stand out but also differentiates you from the countless others offering the same thing.
Be flexible and open to learning. Many people step into the professional world expecting to lead right away, but success often starts with mastering the basics. If you're assigned a small task, give it your best effortâevery job is an opportunity to grow. Developing the necessary skills and understanding the business takes time, so be patient and adaptable.Additionally, focus on building strong networks. As the saying goes, success isnât just about what you know, but who you know. The connections you make can open doors, and the way people speak about you when you're not around can shape your opportunities.
Be prepared to trust the process. When you start a business, youâre filled with ambition, high hopes, and excitement about your idea. You imagine instant success, skyrocketing straight to the top. But in reality, for most peopleâincluding nearly everyone Iâve interviewed on my podcastâit doesnât work out that way. Mistakes happen, unexpected challenges arise, and many ideas donât pan out. There are countless unknowns, and the journey is rarely as smooth as you expect. No one wants to hear this in the beginning, and itâs easy to believe youâll be the exception. But in truth, embracing the process is essential.
Stop overthinking and just start. Don't waste time crafting a perfect 300-page plan or making sure every little detail is in place. If you wait for perfection, you'll never launch your business. Take action now and refine things as you go. Step oneâregister an LLC. Not sure about the name? Pick one and file a DBA later if needed. Don't let small decisions hold you back.
Learn about exits earlyâthink about them from day one. Even if you're just starting out, understanding what happens in a business sale is crucial. We learned this firsthand in our first business. Due diligence is a powerful tool for any entrepreneur. Most people only go through it once in their lives when selling a business, which is a mistake. In todayâs world, especially for young entrepreneurs juggling multiple careers and side hustles, knowing how due diligence works gives you insight into the buyerâs perspective. More importantly, it helps you scale your business strategically. One of the fastest ways to grow is through acquisitions.
Make sure you have a strong ideaâsomething valuable that people will want to buy, not just a cool technology you hope to sell later. Build the right team because even the best ideas fail without the right people, which is why many companies donât go far.
You must have a well-defined go-to-market strategy in place, because without a clear plan for driving sales growth, success will be out of reach.
What Iâd say is that being a one-trick pony, whether in sports or startups, just isnât enough. In the startup world, you need to be versatile. You canât just be the "home run hitter" or the "heavy hitter" who relies on a single skill. You need a well-rounded set of capabilities. You have to master what youâre good at, then build on that by adding complementary skills. At the same time, you need to identify areas where you're not the best and be smart about outsourcing those tasks. It's all about having a multi-tool approach and focusing your energy where it makes the most impact.
Value your time and yourself far more than you do now, because you donât truly realize how little respect you have for yourself until you reach a breaking point. Youâll find yourself thinking, "Wow, itâs 11 PM, and I havenât made any progress on my work. I've sat through a hundred meetings, yet none of my actual responsibilities are handled." Now, youâre left with no choice but to pull an all-nighter, which only leads to burnout. If you donât respect your time or yourself in the process, you risk stretching yourself too thin and running out of energy. Burnout is a tricky thingâitâs like a sickness that gets worse each time. The first burnout may only take a couple of days to recover from, but each subsequent burnout takes longer to bounce back from. Eventually, you may reach a point where youâre so burned out that you lose the drive to do anything for a long time.
Engage in as many conversations as possible. Itâs easy to get caught up in your work, focusing solely on tasks and goals. However, networking is incredibly valuable, and it's not just about connecting with people from whom you want something. Every conversation holds potentialâwhether it's gaining insights into user experience, receiving valuable feedback, or discovering connections you never expected. Being open to conversations and staying approachable can lead to unexpected opportunities. While you shouldn't work for free, taking a few minutes for a quick chat, meeting someone at a conference, or inviting them for coffee is a great way to learn about their work and broaden your network. You'd be surprised how many new opportunities can arise, and how often you'll find connections through those "six degrees of separation."
Focus on something you're truly passionate about. Throughout our conversation today, we've touched on a lot of different aspects of marketing. For me, it all started with an interest in understanding how people think and communicate, which is at the heart of marketing. From there, I moved into advertising, which is a part of marketing, then digital marketing, adding another layer, and finally, analytics, which offers a different perspective. I've enjoyed diving into each of these areas because marketing is a passion of mine. Even when working on a business that might take longer to see results, as long as it's in a field I'm passionate about, the journey doesn't feel long because I'm still enjoying the process of learning. So, my advice is to ensure you're working in an area you genuinely care about, not just one that seems like a good business opportunity.
The number one piece of advice I would give is to learn how to identify A players early on. It's not just about recognizing the highest performers, but understanding how to spot an A player and why they stand out. You need to ask the right questions to determine how skilled someone truly is. One method thatâs been really useful for me is when someone claims they can do something, I ask them to share their screen and show me the evidence right away. Just get them to demonstrate exactly what they can do. If they respond by saying they need someone else to give them access to something before they can show you, thatâs a red flag. It might be an unfortunate obstacle, but that behavior signals more of a B player mindset to me.
There's one thing I see people often overlook, and it's something I personally struggled withârecognizing that your greatest asset is your team. One book that really resonated with me is People Over Profit, which emphasizes the importance of treating your people right. When you prioritize and invest in your team and focus on improving the customer experience, profit naturally follows. In that book, they argue that people should always come before profit, because when profit becomes the top priority over people, you're setting yourself up for turnover. And when your team starts to leave, it negatively impacts the customer experience. This leads to both employee and customer churn, which creates a vicious cycle thatâs hard to break.
One key rule of thumb is to prioritize activities that directly drive revenue, rather than getting caught up in distractions. What I mean is that many new entrepreneurs often get bogged down by things like designing the perfect website, picking the right logo, deciding on brand colors, or obsessing over the details of their LLC formation. While these things are important eventually, they can easily become a way to avoid the real work that actually moves the needleâlike talking to potential customers, making sales, and focusing on the actions that will truly grow the business.
I always say, if you're going to do something, commit fullyâgo all in. I've seen too many people start a startup with one foot in and one foot out, and that makes everything harder. It creates confusion and feedback that isnât really reflective of the situation because youâre not fully invested. You have to be ready to take risksâreal risksâbecause that's the only way you'll find out if itâs going to work. If youâre not all in, you canât ask anyone else to be. You canât ask others to make sacrifices if youâre not willing to do the same. But, itâs also important to know when to switch gears and shift out of that mode at some point. Thatâs a tough thing to navigate.
If youâre venturing into a small business or launching your own startup, mastering the art of focus is essential. When you truly concentrate, you avoid spreading yourself too thin and gain clarity on what you need to prioritize. A strong focus allows you to identify where you can make an impact and helps you recognize the importance of seeking out partnerships to fill any gaps in your expertise. In short, prioritize learning to focus, and always maintain that focus.
The most important thing to remember is not to enter a startup with the sole goal of making a lot of money. Early on, I made that mistake, thinking that having an equity stake in a company would lead to significant wealth. While it's true that you can earn money in various ways within startups, if your primary motivation is to get rich, you might end up feeling disappointed. The reality is that more startups fail than succeed, and itâs a challenging environment.
One major mistake I made early on was not investing enough time or money into solid business bookkeeping. I mixed my personal and business finances for a while, which created quite a mess, and I underestimated how complex it could get. Now, having a fractional CFO has made a huge difference. Looking back, I wish I had prioritized accounting from the start, even if it felt financially tight. Strong bookkeeping and accurate records for expenses and revenue can really improve your position and help avoid potential trouble with the IRS. Thankfully, I didn't face any issues, but it was a close call.
It's easy to get caught up in whatever you're involved in right now. It feels like it's everythingâyour whole life and career wrapped up in it, which is great. But remember, at some point, it will come to an end. That could be in two years, ten years, or even twenty, but most likely itâll be somewhere between two and ten. When it's over, you might realize that the most valuable takeaway from the experience isnât the money you made or the accolades you received, but the relationships you built along the way. You could leave feeling like you failed while being wealthy, or feel like you failed and be broke. We often try to measure success or failure by tangible outcomes, but the true worth often lies in the connections we form.
Leverage the expertise of advisorsâtheyâre invaluable. Even after spending 20 years in the corporate world, I sought out advisors for my company. One in particular, who has since passed, often reminded me, âOnly do what only you can do.â Thatâs a lesson worth exploring further!
Be relentless in your focus on business growth by identifying what sells and prioritizing effective marketing and sales strategies. In a startup, even the best products or services wonât succeed without visibility. Money creates options, so itâs essential to concentrate your efforts. If youâre unsure of your next steps, dedicate time each dayâlike the first 40 minutesâto learning something new and applying it. This proactive approach can significantly drive growth and help you make an impact.
Please take the time to do your homework. Before launching anything, I highly recommend completing a business plan, identifying your target market, conducting a SWOT analysis, and setting SMART goals. Many people underestimate the importance of this preparation, but it's crucial to understand potential target markets, analyze competitors, and define your niche to ensure you stand out. Being thorough can help you avoid impulsive decisions that could lead to serious setbacks. Make sure youâre fully prepared before moving forward.
I believe a lot of it comes down to having self-confidenceâtruly being able to stand behind what youâre doing. For instance, Iâve always thought I could never be a salesperson; I wouldn't be able to sell you a car. But when it comes to starting something new, youâre essentially selling yourself, and weâre always doing that in our interactions with others. If you donât genuinely believe in what youâre launching, itâs probably not the right time.
When people think of entrepreneurship, they often envision startups and creating something new from scratch. However, I've come to appreciate entrepreneurship through acquisition as a valuable alternative. With 99.9% of American companies being small businesses and many baby boomers retiring without viable options for selling their businesses, we face a significant loss to our economy. I believe that by acquiring and running a small business, I can contribute meaningfully to preserving its legacy and vitality for the future.
I highly recommend that every business create a clear written plan outlining their goals and the steps to achieve them. This living document, which you should review weekly, helps you stay focused and avoid getting sidetracked by tempting opportunities that may not align with your objectives. It also allows you to track your progress, especially during times when it feels like youâre just treading water. Moreover, having a solid plan enables you to filter well-meaning advice from friends and industry peers, so you can listen thoughtfully without losing sight of your vision. Many founders get distracted by external input, but a clear plan keeps you grounded and on track.
I strongly encourage them to remain adaptable and curious, engaging in as many conversations as possible. Whether you call it pivoting or something else, it's crucial to refine not just your product-market fit but also how you communicate your vision. The way you articulate the potential of what youâre building is always evolving, especially in those initial months and years. Staying open to feedback and viewing every interactionâlike your elevator pitchâas a learning opportunity is key. Effective messaging is vital for success.
Take the time to do your homework and learn from our mistakes. Conduct thorough due diligence and crunch the numbers. If you're launching a new business, research the market for your product, confirm there's demand, and assess your resources. Consider how long you can operate without making a profit. Make sure youâre well-prepared and have the resilience to weather the early stages, as most businesses take time to become profitable. Do your calculations carefully before diving in
When I first launched my mental health practice, my partner and I had a clear vision, but we ended up taking a different path. I tried projects like grant writing for nonprofits and career coaching for social workersâneither of which aligned with my strengths or passions. Despite recognizing a significant need for the latter, it never felt right as a full-time pursuit, and none of these ventures succeeded as I had hoped. Recently, I finally listened to the persistent inner voice urging me to focus on what I truly know: my experience as a lifelong patient after two open-heart surgeries. That voice had been quiet for a while but eventually became impossible to ignore, reminding me to embrace my true calling. I believe many business owners experience similar instincts; itâs crucial not to overlook them.
Seek out an accelerator program and get involved to learn the ropes. Running a business is as challenging as pursuing science. Master the skills needed, and you could successfully advance your project in tandem. However, donât approach me without some entrepreneurial training. Entrepreneurship is a craft honed by those who study it, so head back to school and get the expertise you need.
I come from a background in live TV, where I've encountered my fair share of unexpected moments. That experience has taught me to handle any curveball with confidence. When it comes to answering your question, here's my advice: if you're just starting out in any field, it's crucial to have a clear and compelling offer. A confused mind doesn't make purchases, and it's equally challenging to sell to someone who's confused. Focus on one ideal client and one specific offer. Master the art of selling that single offer to that target audience. If it doesn't work out, you can always pivot, but itâs hard to gauge success if youâre spread too thin.
As a small business owner, it's incredibly easy to spend money. You'll encounter more opportunities to spend than you ever expectedâwhether it's on business cards, letterhead, or the latest shiny software. While it's tempting to invest in every new thing, remember that your most valuable resource is your cash flow. Properly managing it is crucial for your growth and success. Before making any purchase, take your time to evaluate it. Step away and reconsider whether itâs truly necessary.
It's crucial to fully understand what you're getting into. Starting a business isn't for everyone, but if you decide to proceed, surround yourself with experienced founders, advisors, and mentors who have navigated similar challenges. Look for people who have achieved the goals you aspire to reach. Thatâs a solid foundation to begin with.
I'd advise diving deep into understanding your customer. Many people start businesses because theyâre passionate about what they do and believe they can handle it on their own, without a boss. This passion is crucial, as running a business can be incredibly challenging. Youâll face days where revenue sources are uncertain, and growth can seem elusive. Itâs essential to persist, stay committed, and maintain your belief in what youâre building.
Understanding yourself is crucial. Imagine a vinyl record spinning: the center spins slowly and steadily, while the outer edge moves quickly and erratically. Similarly, when youâre at the core of your identity, you remain grounded, but when youâre on the periphery, you can be easily tossed around. If youâre starting something new, like a business, you need to have a strong sense of who you are. This self-awareness will become clear as you face countless decisions and uncertainties. To navigate this, you need a firm foundation to rely on.
I'd say, first and foremost, go all inâthat's crucial. Though you asked for one thing, here are three. It's really a success formula: fully commit, believe in your capability, and cherish the journey. This formula has proven effective for successful companies. When you commit wholeheartedly, maintain belief in yourself, and find joy in the processâeven through the challenges of startupsâyou'll look back and realize those tough moments were also some of the most memorable and rewarding ones.
My top advice for anyone is to start building your presence publicly. I recently posted about a business I've launched, and within the first twelve months, we've received inquiries from 127 companies. This success stems from building an audience on LinkedIn over four years before launching. This groundwork helped establish my credibility and presence, paving the way for approximately $400,000 in revenue within our first full calendar year. With recent expansions, including hiring six new team members, we're now scaling up our operations significantly.
Embrace change and stay adaptable. Learn to pivot in any circumstance and maintain a positive attitude. The journey ahead may be challenging with unexpected twists and turns, but staying positive and persevering is key. Never give up on yourself; believe that things will eventually fall into place.
If they were just starting their business, I would advise them to ensure they conducted thorough market research before opening. If they neglected this step, especially in the case of a unique business such as event planning, I would recommend they find a community of peers in the industry. Building such a network can provide crucial support and collaborative opportunities, ensuring mutual benefit and shared success through profit-sharing and other affiliations.
I would emphasize that it's crucial to establish proper practices right from the start, particularly in areas like accounting and finance. Many people encounter significant issues by mixing personal and business funds, not maintaining separate accounts, or failing to set up the appropriate legal structure such as a C Corp or LLC for their company. These oversights can lead to serious consequences, including unexpected tax liabilities or legal scrutiny in the event of an audit by the IRS. Therefore, it's essential to be proactive and avoid these pitfalls early on.
One piece of advice I would offer is to follow your own path. While it's valuable to consider input and advice from others, the key is to adapt that guidance in a way that feels authentic and comfortable to you. Every individual is unique, and that uniqueness is what sets you apart in your business. Strive to be the best version of yourself, and your business will naturally reflect that authenticity. This differentiation is crucial because it attracts clients who resonate with your style and approach. Those who appreciate your way of doing things will choose to work with you, while others may seek alternatives. This is how successful businesses operateâby attracting the right clients and fostering growth. Therefore, my advice is to embrace feedback but always apply it in a manner that aligns with your own vision and values. Avoid the temptation to simply emulate others; instead, carve your own path.
The mentorship and network in place are, in my opinion, more crucial than the specific activities within your business. While education, training, and experience can develop other aspects, without the right support networkâthose who guide, connect, and uplift youâprogress stalls. Your intelligence and product brilliance become irrelevant if you lack this essential foundation.
Don't assume that spending money will fix the problem. When faced with an issue, it's tempting to think, "Maybe there's an expensive software solution for this." While that might work temporarily, it often masks the underlying problem. It's crucial to uncover whether the issue lies in flawed processes. Simply throwing money or resources at it isn't always the answer. Sometimes, achieving more with less forces you to innovate and be more resourceful.
I would advise against ignoring operations. Speaking somewhat biasedly, I've seen many small businesses and startups waste considerable time and energy by overly focusing on sales and marketing while neglecting internal operations. Typically, organizations diligently develop their sales funnels and marketing strategies but often overlook crucial internal functions such as cross-departmental coordination, accounting, finance, HR, and legal matters. Consequently, CEOs or founders find themselves pulled into administrative tasks that are less strategic, dividing their attention between day-to-day operations and the broader strategic growth of their company. Therefore, I strongly recommend that one of the initial hires for any business should be an operations manager.
It's crucial for small business owners to carefully control their expenses by establishing and adhering to budgets and revenue forecasts. Often, our penchant for high-end products leads us to expand our overhead too rapidly, sometimes even surpassing our projected sales growth. I believe that preparing budgets and analyzing forecasts can be daunting for small business owners, yet these actions are pivotal in advancing the company towards success.
I'd advise them to observe quietly, like a fly on the wall. Initially, newcomers often criticize processes they don't fully understand. Instead of rushing to suggest improvements, I'd encourage them to listen and watch attentively. By using their ears more than their mouth, they can gain insight into the reasoning behind seemingly odd practices.
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You know, I once had a friend, Barry, who recently embarked on his entrepreneurial journey. He sought my advice earnestly, asking, "What are the three crucial things I must know? I'm new to this business world." I replied, "First and foremost, you must never run out of cash. Cash flow is paramount; it's the lifeline of your business. Without it, you're unable to meet your obligations, and the business comes to a standstill. Simply put, if you have cash, you can address any challenge; it's just a matter of time. Cash reigns supreme." He nodded, jotting down the importance of cash. "What about number two?" he inquired. I reiterated, "Number two is still about cash. And guess what? Number three is too. Never underestimate the significance of maintaining a healthy cash flow."
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I believe it's crucial advice for both Parker and myself: to consistently remind ourselves to show grace. Often, as entrepreneurs, we find ourselves scrolling through social media platforms like Twitter, TikTok, Instagram, and Facebook, or listening to podcasts, comparing our journey to those we admire. While it's beneficial to seek inspiration and challenge ourselves to progress, it can also be perilous, particularly in the early stages. Therefore, it's essential to grant ourselves a bit of grace and patience. Progressing step by step, day by day, is the key. Overnight success is a myth. So, let's not be too harsh on ourselves.
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In the early days, the most crucial activity is talking to as many people as possible and expanding your network. Focus on having conversations where you seek advice rather than asking for anything else, like funding. Approach companies and individuals to ask for their time and insights, not for money. Understand that some people might decline due to their busy schedules, and that's perfectly okay. However, I've found that people are generally more willing to offer help if you ask for their advice.
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If you have an idea, it's because you're uniquely suited to itâothers don't have the same inspiration. Conversely, others have ideas you haven't thought of yet. I believe that if an idea comes to you, whether through intuition, a dream, or a sudden insight, you should act on it immediately. Initiating momentum is more crucial than extensive planning. While some people say, "Failing to plan is planning to fail," I believe that failing to act, even without a plan, accelerates failure. You will create a plan from your failures along the way. Just get started.
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I'll say that it's often easier to get started without overthinking it. Doing too much research can lead to finding countless reasons not to proceed, which can ultimately prevent you from taking action. This might sound philosophical or even a bit naive, but history shows that many successful founders didn't have all the answers when they began. They figured things out along the way.I'm not saying you should skip research entirely. It's important to ensure there's a product-market fit. But once you confirm that, you should dive in and start working on it. If you hesitate and see someone else succeed with your idea, you'll likely regret not taking the chance. And regret is a heavy burden to carry.
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Have unwavering faith in yourself, despite the doubts that may arise from within or be projected onto you by others. Doubt and disbelief will inevitably surround you, but resisting their influence is key to your success. Stay committed to believing in yourself, regardless of the challenges, and persevere. This is the foremost advice I offer to first-time founders or anyone pursuing their own path.
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In the fast-paced world of entrepreneurship, one invaluable piece of advice stands out: be utterly obsessed with your customer. This philosophy has been pivotal in the success of ventures like Conquer, where founders like Matt and I have made it a priority to stay intimately connected with our target audience. From hosting games on our platform to engaging in extensive competitor research, we've immersed ourselves in understanding their needs and desires. In today's startup landscape, where launching a business is facilitated by an array of tools and resources, the real challenge lies in creating something truly desirable amidst the noise of countless offerings. This underscores the crucial importance of knowing your customer inside out, as ultimately, you're crafting a product for them. My advice? Dive deep into understanding your customer, embrace their problems, engage with them relentlessly, and iterate swiftly. Despite your assumptions, it's the market that ultimately dictates what's in demand and what's not. Therefore, staying closely attuned to your target demographic is paramount in tailoring your product to their exact specifications.
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In the world of entrepreneurship, there's a game-changing book that many might have heard of: "Who, Not How." This book has become a go-to recommendation for me when I meet or speak to new entrepreneurs. Why? Because it highlights the importance of not trying to do everything yourself.
Building a successful business isn't about being a lone ranger; it's about assembling the right team to help you grow. This concept of finding the right people for the right tasks is crucial for any budding entrepreneur.
Another key lesson I've learned on my journey is the importance of patience and realistic expectations. When I first started, I was full of enthusiasm, thinking success would come overnight. But reality hit hard. Building a business takes timeâa lot of it.
So, if you're starting your entrepreneurial journey, remember this: don't try to do it all alone, and be patient with your progress. Success will come, but it's a journey, not a sprint.
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In the quest for success, seeking guidance from those who have already walked the path you aspire to traverse is invaluable. I am a staunch advocate of mentorship, firmly believing in the wisdom gained from learning from others' experiences and missteps. Attempting to navigate the complexities of entrepreneurship solo is a surefire path to exhaustion. Collaboration is key; surrounding yourself with mentors and empowering your team members is essential for sustainable growth. Building something of significance necessitates nurturing relationships, both with mentors and employees, rather than attempting to micromanage every aspect alone. True achievement emerges from these connections, emphasizing the importance of prioritizing meaningful relationships in any endeavor.
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Be patient as you embark on your business venture. Expect numerous fluctuations along the way. What you initially perceive as a brilliant plan may reveal itself to be flawed. It's crucial to be truthful with yourself and adapt swiftly when necessary. This is the time for adjustments and flexibility, especially since your business is still small â like a nimble ship that can change course easily. Don't hesitate to reorganize and revisit your strategies with humility. Acknowledge that you don't have all the answers and that your business is a dynamic entity requiring constant attention and nurturing. With care and perseverance, it will evolve into something manageable and successful.
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I believe patience is key. It's essential to remain very patient because things don't happen overnight. For us, it took about four years from the inception of our idea in 2019 to finally securing placement in our first store in 2023. Even then, challenges persisted as we navigated the retail landscape and learned firsthand about dealing with retailers. Setting a clear Manufacturer's Suggested Retail Price (MSRP) became imperative for effective communication. These experiences prompted us to carefully reassess our approach, particularly with just four bars. Understanding that success doesn't come instantly and being prepared for uncertainties are crucial when embarking on a business venture.
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I'd advise to maintain consistency and persistence throughout your journey. Perfection isn't attainable; hurdles will always arise, especially in entrepreneurship. It's crucial to have a clear mission and purpose, yet remain adaptable in your approach. Your vision shouldn't waver, but be open to adjusting your methods as challenges emerge. Remember, reaching your goals might not unfold exactly as you envisioned, and that's perfectly fine.
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I'd say the anticipation of starting something new often magnifies its perceived challenges, making them seem much more daunting than they actually are once you're immersed in the experience. I remember delaying my own ventures for quite some time due to this fear factor. The prospect of launching a business, being self-employed, or taking on the risks inherent in any startup venture can be overwhelmingly intimidating in thought. However, once you're in the midst of it, it becomes more manageable, more about the day-to-day grind of problem-solving, adapting, and finding solutions on the go. You realize you can handle the challenges as they come. Overthinking tends to paralyze action more often than not. So, my advice would be: if you're intrigued by entrepreneurship, if starting your own business appeals to you, take the leap. The worst-case scenario is that you end up back where you started, without a business, but with valuable lessons learned. Embrace the journey.
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Your list, whether cultivated from physical or online ventures, stands as the lifeblood of your business. Unlike transient social media platforms, your list provides stability and ownership. Treat those on your list with the reverence they deserve; they've entrusted you with their contact details and consent, a valuable asset not to be taken lightly. By respecting their trust and providing meaningful content aligned with their interests, you forge a mutually beneficial relationship that fosters loyalty and rewards both parties with growth and success.
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Be prepared to invest in quality services. Although this may appear somewhat self-serving coming from a business coach, the principle extends to various fields, including law and accounting. I've observed this pattern not only in my current work with business owners but also during my own entrepreneurial ventures. Often, when embarking on projects or seeking services, new business owners determine their budget first and then settle for a service that fits within those financial constraints. To foster genuine business growth, it's crucial to identify your needs first and then strategize how to allocate the necessary resources to meet those needs effectively.
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I would like to emphasize a couple of key points, with one being the importance of ensuring you are in a comfortable position to take the risk of starting a new venture. Personally, I found peace of mind by meticulously planning before taking the leap. Rather than abruptly leaving my corporate job, I had saved up and strategically prepared, providing me with a financial cushion and the confidence to make informed decisions. This approach allowed me to concentrate on the business during its initial year without unnecessary distractions. Additionally, having a supportive network, whether it's a team or individuals in your life, is crucial. Going solo as an entrepreneur can be challenging, and having a reliable support system can make a significant difference in navigating the journey.
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First and foremost, patience is key. Individuals need to recognize that significant achievements often have humble beginnings. Begin by testing the waters on a small scaleâinvest a modest amount and assess the outcome. Gradually increase your investments as you gain insights. The key to success lies in consistently producing content.
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Effective marketing is crucial. In times of budget constraints, individuals may think they can handle it themselves. However, if you lack a deep understanding of marketing dynamics and messaging, it's advisable to outsource the task. Remember, you have only one opportunity to create a compelling first impression. While some argue that they can make an impression later on social media, it's vital to recognize that brand consistency plays a pivotal role. Emphasizing brand consistency should be a top priority in your approach to marketing.
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I am considering confronting my fears and pushing through them. It's essential to emphasize that I don't mean taking extreme risks like jumping out of planes or off cliffs. Instead, it's a two-pronged approach. Firstly, trust your instincts and listen to your intuition. If fear is the factor holding you back, challenge it and proceed anyway. We all harbor limiting beliefs, such as thinking we can't achieve something or aren't good enough. The truth is, time keeps moving forward whether we pursue what we love or not. Age shouldn't be a barrier; the notion of being "too old" is often just another limiting belief. Whatever your fear or limiting belief may be, set it aside, because tomorrow is uncertain. Engage in activities that genuinely fulfill you, as tomorrow is never guaranteed, and it's crucial to prioritize what brings you joy.
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The markets for every business are unique, influencing diverse approaches to various aspects like sales strategies and procurement practices. While there's value in creating an appealing website, crafting polished materials, and engaging in activities like focus groups or primary research, it's crucial to not lose sight of the core advice I received from my successful entrepreneur brother. In our specific industry, where we primarily target business-to-business interactions with stakeholders within large corporations, the key lies in direct and proactive outreach. Rather than solely relying on elaborate online presence or content creation, the effectiveness often stems from picking up the phone and engaging in direct sales calls.
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If I could go back in time, I would choose to worry less. Despite the common belief that worrying about the future is necessary, I've come to realize it served me no good. The challenges of life tend to resolve themselves through hard work, commitment, and persistence. Business is inherently tough, but excessive worry only robbed me of calm communication, conviction, and essential sleep. Looking back, I see that worry needlessly prolonged my journey to success, stealing valuable time from loved ones. If given the chance, I would embrace a more carefree approach, understanding that excessive worry added little value to my life.
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If someone is just entering the digital content creation industry or venturing into online business, my top advice, which is also applicable in traditional business settings, is to acquaint themselves with artificial intelligence. It's a transformative force, impacting not only content creators but also those involved in various business processes and anyone producing goods for sale. Leveraging AI allows you to delegate routine tasks within your business, liberating your cognitive resources to focus on developing and strategizing for your business rather than being entangled in day-to-day operations.
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I would advise you to maximize your resourcefulness. I discovered that I wasn't fully aware of the professions of my friends, their spouses, or even my family members until I inquired. It turned out that their expertise and connections were immensely valuable for my business in its early stages. Simply reaching out and asking for assistance can make a significant impact, and more often than not, it doesn't come with a price tag. By tapping into the resources available within our network, we managed to save a considerable amount of money and time. Therefore, my suggestion is to engage in open conversations with the people you know, discovering their skills and expertise to uncover hidden opportunities.
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Recognize the inherent challenges within the day-to-day operations of business. Each day presents a unique set of obstacles that must be navigated. Amidst these hurdles, it is crucial to ascertain your purpose. What motivates and propels you forward? Define the ultimate goal you are striving to achieve. Consider the gap you are filling, the positive impact you are making in the world, and how your contributions may enhance the organization you are a part of. Whether you are providing a service that betters society or offering a product that improves lives, align these endeavors with your overarching purpose. This alignment will serve as your guiding light, assisting you in surmounting obstacles, bolstering self-belief, and sustaining your momentum even during challenging times. This advice encapsulates a profound insight into navigating the complexities of the business landscape.
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I've found that most of my career advancements can be attributed to the relationships I've cultivated. It aligns with the advice that emphasizes the importance of surrounding yourself with supportive individuals who genuinely want to see you succeed. Continuously expanding your network and seizing opportunities to collaborate with diverse professionals can be transformative for your career. In essence, maintaining close connections within your network and keeping communication channels open is crucial. I consider myself fortunate to have a strong and supportive network that has greatly contributed to my professional journey.
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I advocate for two essential practices. Firstly, commit to "One a" by writing down your vision; it's crucial to avoid mere mental retention. As an ancient proverb suggests, "Write the vision down so that those who read it may run." This serves as a constant reminder amid distractions and enables effective service. Secondly, embrace "One b" by doing the hard work of engaging directly with people instead of outsourcing marketing from the start. This direct interaction not only provides marketing benefits but also allows for message refinement and insights from your client and customer base, enhancing your ability to serve effectively.
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The primary advice I'd offer is to actively seek out perks and deals. Explore platforms like F6S, Gust, and various accelerators associated with companies that provide software discounts. For instance, UC Hastings has a program called Startup Legal Garage, offering free legal assistance for startups. Many similar programs exist, so thorough research is crucial. Adopt a lean approach and adhere to the philosophy that if you can build what you need, do so. If it's beyond your capacity, reconsider whether it's truly necessary. Be frugal, especially in the early idea stage; unnecessary expenditures should be minimized.
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My primary advice for individuals would be to embrace authenticity. Be true to yourself and pursue your intellectual curiosity. The rationale behind this is that, when you remain genuine, you become unparalleled â the foremost version of yourself. I am the best Eric, just as you are the best Devin. If I were to emulate your actions, Devin, I wouldn't excel because I am not you, and vice versa. We naturally excel in areas aligned with our talents. Authenticity is perceptible, and when people sense it, they are more inclined to collaborate with you. Another valuable piece of advice is recognizing that everyone is a conscious architect of their reality or business. When embarking on a business venture, adhere to two principles: refrain from causing harm or taking advantage of others. By abiding by these principles, you are likely to navigate successfully.
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One valuable piece of advice I'd offer is the importance of perseverance, coupled with the ability to recognize when a strategic shift is necessary. Perseverance is often emphasized in today's world, with the abundance of resources like technology and platforms such as YouTube. Observing various entrepreneurs sharing their success stories, it's tempting to believe that instant millionaire status is easily attainable within a few months of starting a new business. While this may happen for a select few, the reality for most is a gradual journey. It has taken me a considerable amount of time to reach a point where I feel a sense of accomplishment and success.
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Absolutely ensure validation before construction. Without a doubt. Additionally, prioritize positive cash flowâit reigns supreme, no exceptions. Pursue something you are genuinely passionate about. Identify the challenges that resonate with you deeply, the ones you are eager to address. Lastly, based on my observations, many venture into building ventures unrelated to their core passions. While I can't guarantee the success of what I'm working on, the driving force behind my commitment is an authentic love for the daily pursuit of solving a meaningful problem.
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Focus on mastering the resolution of a single issue initially. When embarking on a new venture, the temptation, which I personally experienced, is to branch out in numerous directions, offering a plethora of services to diverse audiences, thinking this is the key to expansion. However, this approach complicates growth and scalability. The key is to develop one product that effectively tackles a specific problem for a particular customer segment. Dedicate a year to this focused effort, and you'll find yourself significantly more advanced than if you attempt to cater to a broad audience, maintain a presence on numerous social media platforms, and market across the board. Specialize in solving one problem for one demographic.
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Rather than prescribing advice, my approach is to share perspectives, especially when individuals starting a business seek guidance. I prioritize understanding the deeper motivations behind their entrepreneurial journey, comprehending the business context, strategy, and thought processes. I've learned that people value advice when they explicitly seek it. Offering unsolicited advice to those who haven't asked for it can be unproductive, as it may be perceived as a waste of time. Recognizing the genuine interest in advice when it's sought ensures a more meaningful and effective exchange of insights.
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Success is tough, especially for startups. Rejections are a big reason many fail. I've faced numerous "no's" in my journey, but I don't let it stop me. Some people give up after just one rejection, but that's not the right approach. Keep pushing forward because behind every "no" lies another opportunity. I've seen others quit after a few setbacks, but the trick is to see each rejection as a step closer to a "yes." Eventually, someone will believe in your vision, and when that happens, prove them right. Life throws a lot of rejections your way, but if you persist, you'll get those crucial "yeses" that push you to the next level.
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I believe a crucial piece of advice is to seek input from various sources by openly sharing your business with others and absorbing their insights. However, it's essential to recognize that individuals without a vested interest may offer well-intentioned yet generic advice. Seasoned professionals from unrelated industries might not provide the most pertinent guidance for your specific venture. Reflecting on my own initial business experience, I may have placed excessive reliance on the recommendations of admired figures from different fields, adapting my approach accordingly. In hindsight, I realize the importance of balancing external advice with trusting my instincts. While soliciting diverse perspectives is valuable, it's equally crucial to stay attuned to your own intuition. Additionally, the vast resources available on the internet can serve as a valuable supplement to conventional advice channels.
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Engage in meaningful conversations with your customers. My advice is to genuinely connect with them and grasp their true needs, as opposed to mere desires. This process involves ongoing learning, honing the skill of deciphering unspoken cues. Reflecting the sentiment of Henry Ford's timeless wisdom â "If I had asked people what they wanted, they would have said faster horses" â it underscores the importance of understanding the underlying challenges hindering business growth or causing issues. Distinguishing between essential requirements and nice-to-haves is a skill worth mastering. The ability to discern and address core business obstacles ultimately contributes significantly to the success of the enterprise.
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Certainly, I would strongly recommend ensuring you have a dedicated technical co-founder who is fully committed to the venture. However, on the flip side, it's equally important to approach the journey one day at a time. Some of the most challenging experiences I've faced were overcome by simply waking up each morning and deciding to make it a successful day. Consistently making that commitment day after day eventually paves the way for a successful overall journey. Essentially, success boils down to waking up every day and consistently showing up.
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I would begin by extending my congratulations for taking such a bold and courageous stepâa move not suited for everyone. My foremost piece of advice, applicable to all, is to persevere once you've embarked on this journey. It's crucial not to give up, even in the face of numerous challenges that will inevitably arise. As someone who holds strong faith, I believe that despite possessing a multitude of skills and talents, we often fail to fully utilize them until we venture into the realm of entrepreneurship. Consider this: you might not be tapping into all the gifts you possess until you initiate and operate a business.
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Reflecting on the past 10, 15, 20 years, I've come to realize the importance of being open and responsive to others, as well as embracing new ideas. In the earlier stages, I held preconceived notions about how things should be, often imposing my perspectives on others with statements like "you should do this" or "you should do that." Over time, I've learned the value of advising others to remain open-minded, encouraging them to explore new ideas and experiences. It's crucial to allow people to express themselves authentically while finding common ground to connect with one another.
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Have confidence in your abilities and avoid being a well-kept secret. Share your vision and story with others, as people yearn to be part of something greater than themselves. If you can articulate a compelling vision that resonates, you'll naturally draw others who aspire to be part of it.
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I consistently advise individuals to rely on their instincts and trust their intuition. Particularly in the realm of business, if a situation or project doesn't feel right, even if the potential for financial gain seems substantial, it's crucial to listen to that inner sense of discomfort. Trust your gut feelings, because succumbing to a tempting opportunity that doesn't align with your instincts can lead to valuable but perhaps challenging lessons. Deciphering the implications of following your instincts is an ongoing challenge, but it's a journey worth undertaking.
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It's essential to seek help when needed, especially for small business owners and solo entrepreneurs who often feel the need to handle everything themselves. There are experts out there who specialize in areas where you might struggle, and investing in their knowledge and experience can yield significant benefits, whether it's increased revenue, valuable insights, or time savings. So, don't hesitate to ask for assistance; it can be free or affordable, but thinking you must know it all all the time is a disservice to yourself.
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Go for it. Don't hold back. Do not play small. And don't let fear stop you. It might seem daunting, but confront that fear and tackle what's intimidating, challenging, or even seemingly out of your reach. Because that's precisely where your next breakthrough awaits. This concept of pursuing the impossible is the core of my forthcoming book. I'm here to tell you that, first and foremost, you must acknowledge the potential within your business. Then, recognize that potential within yourself. Lastly, wholeheartedly believe in it, and go after it with unwavering determination
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I would suggest prioritizing a clear understanding of your ultimate objectives and holding steadfast to that vision and goal. At the same time, remain adaptable in your approach to achieving them. Often, when facing challenges during periods of growth, like moving from 2 million to 3 million or from 4 million to 5 million, it's easy to get caught up in the daily firefighting and immediate concerns. It's crucial to avoid getting too myopically focused on the present and instead maintain a long-term vision, a "North Star," that outlines what you want your business to become over the next year or 18 months. This guidance is valuable whether you have a leadership team or if you're a small operation with just a handful of employees.
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Emphasizing the importance of focus, the idea of maintaining seven income streams, often attributed to success, faces a fresh perspective from emerging figure Alex Romozi. He challenges the notion, deeming it egotistical to believe one can perform multiple tasks as effectively as those specializing in one. This notion resonates with me as I currently prioritize responding to tasks and acknowledge my limitations in juggling multiple roles. The power of concentration becomes evident, not only in business but also across various aspects of life, as exemplified by my late-night work despite being an established entrepreneur. While everyone's journey is unique, the value of unwavering focus remains a constant consideration.
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I'm kicking myself for not practicing this habit of documenting as I progress. It might appear overly simple, but if you find yourself repeatedly performing a certain task, consider creating a Google Doc to outline the process step by step. This document can be straightforward, perhaps just a Google Doc with a spreadsheet that includes descriptions and links. The key is to maintain simplicity while documenting your work in real-time. Remember to keep these documents organized and readily accessible because, at some point, you might need to hire someone. Having a well-documented process makes it much more efficient to onboard new team members, sparing you the effort of teaching them from scratch while on the job.
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The primary piece of advice is to truly understand your customers. It might seem obvious, but many individuals assume that a particular customer will require their service. They become enthusiastic about their solution and technology, and only after developing the solution, platform, or service, do they begin seeking out customers who might match their offering. However, the issue with this approach is that entrepreneurs can end up wasting a significant amount of time and money trying to create something for a small number of customers. Instead, the better approach is to first define the problem, identify a broad audience or a large group of individuals, and then craft a solution that addresses a specific niche problem that, for example, might be shared by around 100 people.
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Protecting your intellectual property is paramount. Take proactive measures to safeguard your brand even before it becomes widely recognized. This applies not only to trademarks and patents for inventions but also extends to software. It's crucial to secure your intellectual property rights, as once you gain popularity, there will be a rush to capitalize on your success.
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My top advice closely mirrors my own approach to continuous self-improvement, emphasizing the role of perpetual learning even after completing formal education. It involves staying updated by delving into essential books in your field, actively participating in webinars and seminars, and tapping into the vast educational resources on YouTube. I once committed over a year to exclusively watching documentaries and educational content on YouTube, forsaking movies and TV shows. This dedication to ongoing learning, despite having graduated, has been instrumental in my personal and professional growth.
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In my work guiding personal growth, I've come to cherish the way businesses can serve as catalysts for personal evolution. Nowadays, the business landscape has evolved, and while the traditional "hustle and grind" approach still has its place, what often proves more effective, especially with our clients, is authentic connection. Embracing vulnerability, sharing your growth journey, and using your business as a vehicle for personal and spiritual development can be immensely rewarding. So, my advice is to shift your perspective, focusing not just on what you offer but on the profound opportunities your business offers for your own growth as a spiritual individual and as a business owner. It's an often overlooked but vital aspect of being.
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It stems from my ability to ignore the doubts of others and lead with unbridled passion. Leading with passion is essential. It not only provides the fuel to overcome challenges and uncertainties in your entrepreneurial journey but also ignites creativity and motivates you to go the extra mile for success. Personally, my passion is deeply rooted because I am the customer. I created this venture because I had a unique idea and the means to bring it to life. As a result, I intimately understand what our customers and the community want in this space. I serve as their sounding board, where ideas bounce off each other, ultimately leading to the creation of something truly special. My fervor for this project is unmistakable, evident to everyone who enters Artishouse, and I am genuinely thrilled to be a part of it.
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The most valuable advice I can offer is to adopt a holistic perspective and shift your focus away from your primary passion or expertise. For me, music is my core passion and my comfort zone. However, in the day-to-day operations of growing my business, I find myself engrossed in various other tasks that may not be directly related to my passion. To succeed in expanding and scaling, it's essential to broaden your view beyond your immediate passion and acknowledge the multitude of other aspects that require your attention, understanding, and consideration. This foundational approach is vital for long-term success.
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The most crucial piece of advice I can offer is to maintain your stable income source. Under no circumstances should you abandon your steady job. Unless you're intentionally reducing your expenses, refrain from relocating as well. It's imperative to maintain financial stability while you navigate the process of launching and establishing your startup. So, that's my top priority. And to introduce a touch of diversity, this would be my foremost recommendation.
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Build your network relentlessly. You remain anonymous until you become known. Immerse yourself in the company of influential figures, attend conferences, invest in that $300 VIP ticket or the $1,000 elite pass. Position yourself to connect with those who appreciate your true value. If you inquire about the rapid growth of my business, it's because I had already adopted this approach. Many entrepreneurs may possess strong skills, excel in sales, or acquire marketing knowledge, but without continuous engagement with exceptional individuals like yourself, Devin, or others in the industry, it's likely that your name will remain obscure. Trust is the foundation of commerce, so strive to surround yourself with the right people, even if it means a little extra investment; I assure you, it will be worthwhile.
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Surrounding yourself with a network of mentors, individuals who possess valuable experience and expertise, is invaluable. If you can connect with individuals who operate in a similar domain and enlist them as part of your support system, that's even better. Beyond just mentorship, consider forming a mastermind group consisting of intelligent individuals who can provide guidance on your entrepreneurial journey. When embarking on your path as an entrepreneur, it's wise to glean insights from those who have traversed it before, learn from their lessons, and often, this knowledge can propel your success to new heights.
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I'm going to offer two pieces of advice, and the first one may appear bothersome and costly, but it's crucial. Please ensure that all your corporate documents, intellectual property, and related matters are properly organized. This includes finalizing your partnership agreement, buy-sell agreements, and all corporate aspects before your business gains momentum and begins to expand. It's important to remember that the more successful you become, the more challenging it can be to rectify any errors or address issues that arise within the company, especially in terms of partnerships or familial relationships with team members.
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Create a plan for managing your time effectively. Many entrepreneurs believe that they must constantly hustle, projecting an image of unwavering success and dominance. This often entails appearing victorious every single day. However, for entrepreneurs, small business owners, and those working in non-corporate environments, stress may not disappear but merely change form. In this context, it is crucial to prioritize your own needs. Looking back, this lesson became apparent to me as a critical aspect of business successâone that I initially failed to heed. I cautioned myself about the need to reconsider how I allocate my time.
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It's important to be prepared for the possibility of receiving a "no" as you pursue your goals. Sometimes, achieving your desired outcomes can be a longer and more uncertain process than initially anticipated. Therefore, it's essential to let go of the notion that success will come quickly, simply because you launched this year and expected to see a 10-million-dollar ARR. Instead, consider the need to reevaluate your expectations and align them with the realistic timeline and metrics that reflect the actual time it takes to achieve your goals.
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I often advise individuals to allocate their time wisely across three critical areas: working in their business, working on their business, and investing. The need to secure basic necessities like shelter and food naturally compels them to work within their business to generate income. However, it's equally essential to set aside dedicated time on their calendars for working on their business and investing, as these activities are vital for long-term growth and financial stability.
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Ensure you have a robust support network in place; this is absolutely crucial. Whether it's an advisory board, close friends and family, a coach, or a mentor, as I mentioned earlier, it's essential. The entrepreneurial journey can often be a solitary one, and the statistics show that entrepreneurs facing mental health challenges experience significantly higher rates of these challenges compared to those who are not in the entrepreneurial world. This underscores the difficulty of the entrepreneurial landscape and how isolating it can become. So, my advice is to proactively seek out and cultivate a support system around you.
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I would advise against solely pursuing financial gain. While it's clear that our primary goal in this venture is to run a successful business that generates profit, allowing us to compensate ourselves and foster financial growth, it's important not to be driven solely by money. When your sole motivation is monetary gain, you might constantly chase quick, opportunistic wins and find yourself eager to pivot frequently. Without a strong guiding principle, like our commitment to family values as our North Star, it becomes easy to be swayed by fleeting opportunities.
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I would advise you not to let fear hold you back. Many individuals refrain from starting their own businesses simply because they're afraid. They fear that they may not be capable of succeeding, that it will demand too much time, or that it will be more demanding than they anticipate. I believe the primary issue for most people is that they have aspirations but are apprehensive about pursuing them. In my case, this opportunity didn't even originate from a dream; it simply landed in my lap. However, when faced with such an unexpected opportunity, one has a choice: to shrink back in fear, questioning whether they're up for the challenge, or to embrace it, recognizing the potential need for what they can offer. I believe many individuals hesitate, and as a result, their ideas sometimes become someone else's, as all great ideas eventually surface.
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Conduct thorough research and introspection. Ask yourself, "Why do I want to pursue this?" Many people venture into business solely for financial gain, which often leads to failure. The most successful entrepreneurs I've observed are those who are genuinely passionate about addressing a specific problem. They either invest in a franchise and actively manage it or identify a problem, develop a solution, and become the remedy. These individuals are driven by a deep passion for problem-solving. On the contrary, I've seen numerous businesses fail because their founders lacked genuine purpose. They jumped into entrepreneurship thinking it was an easy way to make money without giving adequate consideration to their venture.
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The most crucial advice for a new business owner is wholehearted immersion in every aspect of the enterprise, including taking on the role of a salesperson and actively participating in the startup process. This hands-on involvement should be coupled with a deep understanding of the business's operations and the development of a clear and enduring vision and mission statement. Regularly reviewing and refining this vision is vital, and our quarterly team meetings serve this purpose, ensuring not only that I as the owner have a clear direction but also that every team member is fully committed to our shared mission, reciting it daily to stay focused on our goals and purpose.
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Embracing the lean startup life means accepting the uncertainty that comes with entrepreneurship. While the initial excitement often revolves around the prospect of endless possibilities, it's essential to adopt a minimalist mindset, focusing on survival. Your business becomes your livelihood, and success demands unwavering commitment. Prepare for the rollercoaster of highs and lows, but maintain a balanced perspective to navigate the challenges without losing sight of your ultimate goals. Stay steady in your responses, knowing that resilience is the key to long-term success.
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You should possess at least a basic grasp of the business you're entering into, or consider hiring someone who does. It's possible to invest in a franchise without comprehensive knowledge, but it's crucial to have knowledgeable individuals on your team. However, even more crucial for business owners is understanding that perfection isn't a prerequisite. Striving for perfection can stifle entrepreneurial drive and hinder business progress. Sometimes, "good enough" is indeed good enough to kickstart a project or launch a business. Perfection isn't attainable, and I've personally grappled with this in my career, thinking every piece of software or website had to be flawless. Nothing will ever be flawless, but with time, you can always refine and improve it.
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I'll encourage them to give it a shot. There are essentially two possible outcomes for them. First, they might encounter failure, but it's through these setbacks that they'll gain valuable lessons. Second, they could achieve success, opening up limitless possibilities. Therefore, they shouldn't keep their ideas to themselves. This advice is something my father imparted to me: if you aspire to do something, don't hesitate to pursue it. This way, you'll always have the satisfaction of knowing you tried, without any regret. Whether you fail or succeed, remember, as I mentioned before, the sky is the limit.
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I have a lot of advice to offer, but if I had to condense it into one key point, it would be this: Take action. If you're thinking about starting a business or becoming an entrepreneur, it's easy to get stuck in a cycle of overthinking. We can spend hours reading and watching content on platforms like YouTube, TikTok, and Instagram, accumulating a lot of knowledge that doesn't really become useful because we haven't put it into practice. We might believe we understand it, but the truth is, we likely don't until we apply it. We find ourselves in a place where we want to take action and pursue our entrepreneurial goals, but we hesitate. So, if you're truly committed and this passion runs deep within you, you must take that initial step forward.
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My business principles revolve around honesty, integrity, customer-centricity, and giving back through tithing. Honesty is paramount, including admitting mistakes and providing candid advice. Paying taxes diligently, avoiding ethical dilemmas, and prioritizing the customer's welfare are non-negotiable. In our insurance business, we referred customers to better deals when we couldn't offer the lowest rates, fostering trust. Avoid overcharging, offer assistance when possible, and don't fear admitting when you don't know, but commit to finding answers. These principles ensure both ethical business growth and a good night's sleep.
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Why start a business? Running one can be tough, and just making money isn't enough of a reason. You need a strong 'why' behind it. Sure, other jobs might pay better, but if you're not passionate about your business, think twice. Find a purpose that goes beyond money, whether it's your love for what you're doing or a personal story that drives you. Life's too short to chase cash without a meaningful reason, so make sure your business connects with your values and gives you fulfillment.
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Kindness matters in three crucial aspects of life. Firstly, be good to your loved ones, including your partner, kids, and friends, especially when you're exhausted from work. Secondly, treat your clients well in the business world, not just in formal settings, because lasting connections often start casually. Lastly, engage with their business journey to build deep, meaningful relationships that go beyond just doing business.
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Don't overthink it; just start. Many people get bogged down in excessive planning and overcomplicating their strategies. Instead of fixating on business plans and logos, take that leap of faith and see if there's any interest in what you're offering. Even if your product isn't perfect, put yourself out there, be willing to look a bit foolish, and have the guts and faith to take that initial step. It's often the willingness to start that sets successful individuals apart from the rest.
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When I saw this, you know how strongly I feel about a particular piece of advice. I have at least five such advice, but the one I consider most important is: never let anyone tell you that you can't do something. Don't listen to them. They will try to give you many reasons, but if you believe in something so much that it keeps you thinking all night and day, just keep working towards it. Take one step at a time. Keep moving forward. Don't ever allow anyone to convince you that you can't succeed.
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In the context of startups and small businesses, the essence lies in the ability to be as adaptable as a Swiss army knife. While personal inclinations and competencies are important, these settings necessitate a willingness to embrace a variety of tasks, even those that might be less appealing or unfamiliar. This inevitably calls for a curious mindset â a readiness to explore the uncharted territory. If curiosity doesn't inherently motivate you, it might be prudent to reconsider this path. Succeeding in this environment demands a commitment to perpetual learning and the astuteness to construct a team that can effectively cover your areas of weakness.
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I highly recommend that everyone gains an understanding of their Kolbe score. The Kolbe Index available at Kolbe.com has truly transformed my approach, granting me the freedom to leverage my innate talents more effectively. It's distinct from a mere personality assessment; rather, it delves into how you naturally tackle tasks and allocate energy over time. This insight is crucial in avoiding potential burnout. Personally, I find myself discussing this topic almost daily, and it directly correlates with my affiliation with the Strategic Coach Organization, of which I am a member. For anyone embarking on an entrepreneurial journey, I wholeheartedly suggest exploring this avenue.
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Achieving success isn't a straightforward journey, but rather a path filled with ups, downs, and twists. To overcome the challenges and setbacks along the way, a strong and unwavering sense of purpose is essential. This clear direction provides the resilience needed to navigate the unpredictable course towards success, which often resembles a winding line rather than a straight one. Without a compelling "why," even minor obstacles can become insurmountable hurdles. Therefore, whether you're starting a business or pursuing any endeavor, ensure your motivation is powerful enough to sustain you through both good days and bad.
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Learning through apprenticeship can yield significant benefits. Consider the illustration of initiating an Amazon business. It's crucial not to hastily dive in and commence placing orders from China, as this can lead to predicaments. Numerous instances of such missteps have been recounted. There are essentially two prudent approaches: acquiring knowledge from a mentor or commencing on a modest scale. For instance, initiating with a minor venture like ordering a few Frisbees allows for hands-on learning without substantial risk. This represents the first approach. The second approach, as previously indicated, involves developing a clear funding strategy for the endeavor.
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Excelling in your field and fostering positive working relationships are essential. With these attributes, you won't face scarcity or job hunts. Should you become available unexpectedly, opportunities will naturally come your way through referrals. This scenario mirrored my own experience post-layoff. A contact, the senior VP of communications, recognized my proficiency and compatibility, leading to a personalized role in her self-owned business. Despite the involuntary layoff, she valued my skills and demeanor, opting to hire me as a freelancer. This outcome showcased the significance of both expertise and interpersonal rapport in professional success.
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Build a network and understand that communal growth is often more rapid, impactful, and purposeful than solitary business expansion. Whether your company comprises five or fifty people, the latter can connect you with around 200 non-competing peer firms, alongside associations, local communities, and regulators, depending on your field. By integrating into this network, you can become an essential resource, fostering reciprocal growth through business referrals. This approach is especially valuable when marketing funds and time are limited, making it an effective method to enhance your business's awareness and reach.
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I would suggest that regardless of your level of preparedness for undertaking this endeavor, it will require an extensive span of time before you begin to witness consistent and dependable outcomes. Allow me to elucidate the reasoning behind this advice. I was essentially thrust into this domain against my own volition, in my perspective. I possessed this particular skillset and was aware of its potential for monetization. Additionally, I was connected with around 150 eminent storytellers heading prominent brands in the global corporate sphere, ranging from the top 2000 enterprises to the Fortune ten elite. I received calls from CEOs expressing their willingness to engage my services, offering immediate compensation. Despite encountering individuals who might have disappointed me along the journey, I had every justification to believe that I could harness these myriad resources, connections, and competencies to promptly transform them into a moderately consistent source of income. However, reality didn't align with my expectations.
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The counsel I offer to the organizations I serve on revolves around prioritizing strong fundamentals, especially aimed at emerging talents and aspiring initiators. It's imperative to constantly uphold these foundational aspects, which encompass your core values and identity. Even if you're uncertain about your values, acknowledging this sets you on a path to ascertain them and translate them onto paper as cherished principles. Furthermore, when creating something, grasp its multi-faceted nature and perceive it within a larger system; a principle I used to teach as part of systems thinking. This understanding underscores the fact that everything operates within interconnected systems rather than in isolation, encapsulating another fundamental facet.
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The most significant piece of advice for someone new in this field is to truly comprehend the following: As I mentioned earlier, you need to foster this endeavor. It involves not only self-education and the continuous advancement of your skills, but also gaining proficiency in various other areas as you progress. Strive to become the best possible mentor for those within your business. A substantial portion of your business triumphs originates from the atmosphere you cultivate and the connections you establish. The magnitude of this cannot be overstated. Prioritize the well-being of your team. Demonstrate your affection and concern for them, and consistently contribute to their education as well.
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Ensure that both your network and your family are fully supportive. You'll require assistance from everyone available. The notion of a completely self-made individual lacks validity. I remain skeptical of your claims and might even label them as dishonest. The key factor lies in the individuals surrounding you. Do they offer their backing? As inevitable moments of self-doubt arise, their encouragement becomes invaluable, a steadfast presence. Thus, in my view, my family stands as my ultimate asset. Without question.
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Persistently echo the importance of managing overhead costs, urging others to realize that it's not just about revenue generation, but rather the prudent retention of earnings. Look to Apple's modest garage beginnings as a testament to focusing on essential work initially. Allow organic business demands to dictate expansion, keeping a frugal and efficient approach, especially in the early stages, as it's the burden of excessive overhead that often leads to business downfall. Similarly, stress the futility of trying to cater to all demographics, exemplified by the likes of Coke and Pepsi, emphasizing the need to carve a distinctive identity and accept that capturing an entire market is implausible, making strategic focus imperative.
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Get ready to handle a multitude of tasks â there will be plenty to do. The extent of your responsibilities will largely depend on your incoming finances, but you should acquaint yourself with legal matters, accounting, and HR â aspects you probably never had to consider in previous jobs. Embrace these new challenges; they might not all be things you enjoy doing. Many entrepreneurs start their ventures because of their passion for a particular field, and that passion can be a driving force. However, it's essential to acknowledge that running a business will also involve tasks that may not align with your passions. Be prepared for this reality. Moreover, anticipate that dealing with people will be a significant aspect of your journey.
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For aspiring entrepreneurs starting a new business, the most crucial advice is to define their core values and priorities early on and periodically reevaluate them. While the initial excitement of autonomy and choice may be exhilarating, business success can lead to unforeseen commitments that might overshadow the original intentions. By consistently reminding themselves of their purpose and adapting as needed, entrepreneurs can maintain a balance between business growth and personal fulfillment, ensuring that their venture aligns with their desired lifestyle and brings genuine satisfaction.
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Appreciate your own experiences and acknowledge the unique qualities you bring to the table. When I began my journey, I possessed remarkable skills, yet I tended to underestimate the significance of my own contributions to the overall endeavor.
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My favorite piece of advice, which I share frequently, is not to fear pivoting. As an entrepreneur or small business owner, it is natural to become attached to our original plans, but being open to change and flexibility is essential for growth and success. Embracing the willingness to adjust our course when needed can lead to new opportunities and innovative solutions, empowering us to reach our full potential in the ever-evolving market landscape.
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Personal development is important, but don't let it consume you. Learn to delegate and let go of control faster. Holding onto the reins for too long can hinder startup progress. As a business builder and entrepreneur, aim for rapid delegation and training to scale faster. Clearly define tasks, document procedures, and find capable people to hand them over to promptly. This approach will accelerate growth.
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In terms of networking, I often advise people to shift their focus from "who you know" to "who knows you." It's crucial to build your personal brand and actively engage with your community or industry, regardless of your specific role. Personally, I actively participate in civic clubs and maintain involvement in local government affairs due to the impact on our business. That's why I emphasize the importance of building relationships and becoming known within the community. By doing so, when someone needs a recommendation, like for a Billboard campaign, they'll think of you. For example, they might say, "Hey, have you considered Bill? He's well-connected in the community and has worked on projects with me. I think he'd be a great fit for the Billboard campaign." Ultimately, building your brand and relationships is key to being recommended and recognized in your field.
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In the realm of small businesses and startups, your personal name often becomes a part of your company's identity. When approached by individuals, I instinctively resort to two crucial actions: Googling their name and researching their LinkedIn profile. It's important to realize that prospective clients, investors, customers, and partners will inevitably conduct these searches as well. Trust, which is paramount in these interactions, can be quantified by the formula: rapport multiplied by credibility, divided by risk. By prioritizing rapport building, credibility establishment, and risk reduction, you can significantly enhance your trustworthiness and pave the way for success.
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Surrounding myself with networks that exceeded my perceived limits was the greatest source of support for me. At the age of 26, while starting my company and earning modest amounts, I invested in a Mastermind group comprised of seven and eight figure entrepreneurs, some even reaching nine figures. Despite feeling like the least accomplished member, I remained in that circle for five years, observing and learning how these individuals communicated, operated, and conducted business at such high levels. Although their experiences initially seemed distant from my own, I persisted and absorbed their knowledge. After four years, when I achieved more success, I revisited the wealth of insights I had gathered, utilizing them to propel my own growth and development.
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Persistence is the key to success, and several factors contribute to it. One crucial aspect is altering your mindset regarding failure and risk. Rather than viewing failure as a devastating outcome, it is vital to perceive it as a valuable learning experience. Embracing the concept of failing forward is crucial. In the past, Facebook's internal mission statement embodied the idea of "move fast and break things." This philosophy emphasizes the significance of continuous learning and improvement in the most efficient manner possible.
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You don't have to create an entire corporate structure from the beginning. Instead, focus on acquiring your first client. Fancy business cards, name tags, and renting an office space are not necessary. In some cases, all you need is to secure that initial client. Direct your attention towards delivering an exceptional client experience and refine it accordingly. It's crucial to have a product or service to offer, but be open to adjusting your approach based on market feedback. Engage with people, share your solution and the problem it solves, and assess if it resonates with them. Conduct thorough research and ensure that your growth is cost-effective. Remember, you don't need to impress everyone with an extensive setup; securing one client can be the starting point for further expansion.
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A valuable piece of advice I have for you is that there are numerous paths to progress from zero to one and beyond. It's important not to compare yourself to others and dwell on what you're not doing. Instead, focus on what makes sense for you, remain curious, keep an open mind, and work diligently. Remember, there is no singular formula for achieving success. Success is a culmination of countless decisions that must be made nearly every day, especially when you're starting a business.
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Discovering exceptional mentors has been a transformative experience for me. I was incredibly fortunate to find an extraordinary individual right from the startâa retired tech executive with a wealth of expertise. This all-purpose mentor has guided me in various areas, from making introductions and securing funding to creating pitch decks and establishing an LLC. Their unwavering support and availability have been invaluable, providing me with encouragement and assistance whenever I needed it. I sincerely hope that everyone has the opportunity to find a mentor like mine.
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To succeed in your industry, it is crucial to understand the numbers that drive your business, be knowledgeable about the market you operate in, and network with accomplished individuals who can provide valuable insights. By actively seeking opportunities to connect with experienced professionals and utilizing platforms like LinkedIn, you can learn from their experiences and gain a wealth of knowledge. Additionally, it is essential to prioritize profitability by ensuring that your business is positioned correctly and that your margins are where they need to be. By incorporating these practices into your approach, you can significantly increase your chances of success in your industry.
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If you are operating in the B2B space, it is advisable not to overly focus on product development before entering the market. Instead, prioritize selling your product or service. Even if you have an incomplete offering and need to address various backend issues, it is crucial to take a simple version to market and start selling. Actively engage with potential customers and make efforts to sell your product. Seek someone who is willing to pay for the concept you are trying to build, even if it means creating a basic mockup. It is common to come across entrepreneurs who have spent a considerable amount of time, say a year and a half, on developing a product, yet have not made any sales. This approach is a significant mistake, as it becomes challenging to gauge product-market fit accurately. Such missteps can lead to colossal failures.
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Don't hesitate to assert yourself and set boundaries. This is especially crucial in the realm of small businesses and freelancing. If you're unaware of your boundaries or lack self-esteem and self-worth, you'll likely end up emulating others without originality. For instance, attempting paid ads right from the start or engaging in email marketing without an email list. Prioritizing self-advocacy and personal convictions is vital. It's akin to having tunnel vision, disregarding the noise generated by others. This approach is essential during the early stages since the most significant gains in my business stemmed from such laser focus, paying little attention to competitors. While it's important to ensure your products or knowledge meet industry standards, excessive comparison in the beginning can be counterproductive.
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One of the most important pieces of advice I can give is to start small. We have an ad on our wall that we share with everyone at our company, emphasizing the concept of thinking big, starting small, and growing rapidly. Early business success often hinges on the ability to build only what is necessary at the time and being willing to let go and start anew when needed. This adaptability is crucial for navigating the ever-changing business landscape. When considering this, I reflect on the development of individuals, where the first month of life looks vastly different from the following six months. Similarly, businesses go through different phases, but for small businesses, even six months can bring significant transformation. By proportionally allocating resources, it becomes easier to stay afloat and navigate challenges. Sustaining business success in the first year is challenging, but with strategic planning, resource management, and an adaptable mindset, a solid foundation can be laid for long-term growth.
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Embrace the belief in your worthiness for the goals you set. Regardless of the challenges, you will embark on the journey, learn from mistakes, strive for excellence, and even surprise yourself along the way. It's often advised to begin with the end in mind, and that holds true. However, approaching your goals from a place of positive energy, both mentally and emotionally, will greatly aid you. It's crucial to genuinely believe and acknowledge that you deserve the accomplishment you seek. Without this conviction, universal principles suggest that you may unconsciously hinder your own progress. Even if you lack specific details or comprehensive knowledge, cultivating the belief in your deservingness will significantly contribute to your success.
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When I started my business, I eagerly began creating my PowerPoint presentation and designing my letterhead, business cards, and other materials. However, I soon realized that I had no clients to share these with. It became clear that I needed to find a way to make myself known. My advice to others is that having a great product or service might not be enough to stand out from the crowd. It's important to differentiate yourself and establish your brand. Identify who you are, what makes you unique, and start embodying those qualities instead of trying to blend in with everyone else.
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A diver once shared a simple yet profound advice: "Plan the dive, dive the plan." Similarly, living with intention means meticulously planning out your actions and goals. Just like in that movie starring Will Smith with the talented tennis stars (although I can't recall the name), there was a scene where the girls presented their detailed plan for the day and the following day to him. While it may seem a bit exaggerated in the context of a movie, the underlying message remains powerful. By carefully charting out your plan and diligently executing the tasks outlined within it, you can truly distinguish yourself as a winner. It's not about categorizing others as losers, but rather recognizing that this level of commitment and follow-through sets successful individuals apart.
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Surround yourself with a reliable and supportive network of individuals. From a bookkeeper to an attorney to an accountant, ensure that these individuals possess a solid understanding of you and your business. Cultivate strong relationships with them because they are your team. As a startup founder, you may initially feel alone, but there are numerous people out there who can assist you. Begin building these connections early on, as they will be with you throughout your business journey. These relationships will serve as a valuable sounding board as your company evolves. Think of them as your own personal board of directors, accessible to startup founders and entrepreneurs alike. By nurturing strong bonds with professionals such as accountants and bankers, your chances of successfully navigating the first, second, and third years of your business will significantly increase.
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One valuable piece of advice is to surround yourself with individuals who possess extensive knowledge in areas where you lack expertise. Fortunately, there are numerous individuals out there who are eager to serve as mentors. These individuals may seem inaccessible initially, but you can overcome this hurdle by utilizing platforms like LinkedIn. By reaching out to people whom you never thought would respond, including those who have accomplished remarkable feats or regularly share valuable insights on LinkedIn, you can broaden your network. Composing a simple message expressing your admiration and explaining your situation as a newcomer, you can humbly request 15 minutes of their time for a call. During this call, you can introduce your business and eagerly seek their guidance regarding the most suitable direction to pursue.
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Embrace the art of marketing and discover effective strategies to promote your company, brand, product, or service to potential customers. In today's digital age, marketing plays a pivotal role across various industries. Without a solid understanding of marketing principles or the guidance of knowledgeable professionals in the field, you may encounter difficulties. While there's a slim chance of lucking out and experiencing a viral moment, relying solely on chance or neglecting consistent content creation will not yield favorable results. To succeed, it's crucial to adapt to the digital landscape and leverage its vast potential to reach your target audience.
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Do not wait for the perfect idea to embark on your entrepreneurial journey. If you possess a fervent desire to establish a company that offers solutions, the key often lies in surpassing or diverging from existing practices. Many individuals have achieved substantial success and created thriving businesses in well-established industries such as dry cleaning services or restaurants, simply by offering a superior or unique approach to delivering those services.
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Read a book titled "Unseen Void" and absorb its essence to embody it fully. The book highlights the notion that one's knowledge is limited, emphasizing the existence of countless things yet to be discovered, particularly the imperceptible gaps in the journey of starting a business. Unless you hail from a lineage akin to the Rockefellers, Fellows, or Trumps, or have the privilege of attending prestigious institutions like Harvard, where you encounter affluent peers with affluent parents, you, like me, may have attended a state school and faced financial hardships throughout your life. Consequently, you lack the invaluable insights and wisdom accumulated by the wealthy elite who came before you. Trump's success in constructing towering edifices stems from the foundation laid by Trump Senior, who diligently constructed a real estate empire, experienced failures, and learned from them over a century of industry experience. This invisible knowledge was then transmitted to his offspring.
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The main lesson I've learned is to consistently check my assumptions. Expertise in a niche doesn't exempt us from this practice, even with my monk training.Verifying assumptions avoids building a business on incorrect premises.Redoing everything due to faulty assumptions is undeniably frustrating.Always ensure that assumptions align with audience needs, market demands, and client requirements.
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People kept emphasizing the importance of finding a niche during my first year, claiming that the real wealth lies within specialized markets. At first, I nodded in agreement, acknowledging the significance. However, I soon realized the necessity of defining my target audience and understanding my core clientele. It became apparent that having a well-defined niche, one that sets me apart and is not being pursued by others would greatly contribute to my success.
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It is crucial for you to enhance and refine your analytical abilities and strengthen your determination. You should develop the skill to discern between valuable information and misleading or irrelevant content. It is essential to be able to differentiate between what is significant and what is not. There tends to be a prevailing mindset within the investment community, and it is important for you to question the consensus when necessary. Despite the intelligence of the individuals involved, it is possible for everyone to be mistaken. Based on my background experience, particularly in areas such as export controls and nonproliferation, I have observed instances where even highly intelligent individuals have overlooked critical details. This can occur due to various simple reasons.
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One valuable piece of advice I would offer to business leaders and entrepreneurs is to prioritize surrounding themselves with exceptional individuals. Seek out people who possess a big-picture mindset and a grounded perspective. In my experience, one of the keys to success has been building a network of individuals who are smarter than myself, including mentors and business coaches. These wise individuals have invested in me and helped me avoid making foolish decisions, enabling me to make better choices. Therefore, my number one recommendation to all aspiring entrepreneurs is to surround themselves with a few select coaches or mentors who have the courage to provide honest feedback that others may shy away from, especially among your employees. Having one or two people like that in your inner circle will help you stay grounded and focused.
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In order to thrive, it's crucial to identify your unique position and purpose. Whether you offer an innovative yet seemingly unnecessary product, struggle to find a product-market fit, or enter a market with existing competitors, you must differentiate yourself. Mere replication or contentment with imitation won't lead to sustainable growth or excitement. Instead, discover your value proposition and tirelessly work to maximize it for your customers. Set yourself apart, avoid being a copycat, and dedicate yourself to delivering exceptional value every day. This is how you can truly stand out, create a lasting impact, and thrive in the dynamic startup environment.
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Acquire experience through any means possible. Experience brings numerous benefits. However, when it comes to succeeding in entrepreneurship, it's not solely about your knowledge; rather, it revolves more around your networks and connections. Experience not only provides you with practical examples to reflect upon when facing challenges and being relied upon to solve problems, but it also introduces you to people who become valuable resources in the future. When starting a business, you'll require employees and subject matter experts, and having established networks in the field is crucial. Without investing time in developing these connections through practical experience, it becomes exceedingly difficult to access them when the need arises.
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Seek out a mentor who can guide you on your journey, whether you choose to pay for their services or find someone willing to volunteer their expertise. Look for someone who has achieved the kind of success you aspire to. Listen to their advice and take action based on their guidance, even if it pushes you outside of your comfort zone. Understand that as a new entrepreneur, growth and discomfort go hand in hand. Transitioning from being an employee, no matter how entrepreneurial, to becoming an employer and running a business requires a transformation. Embrace the necessary changes and commit to becoming the person capable of running a successful venture.
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Starting a business requires doing it for the right reasons. While there's no universal right or wrong reason, there are certain motivations that may lead to greater happiness and fulfillment.It's important to understand that starting a business will have its ups and downs. In fact, there will likely be more downs than ups in the beginning. While some companies take off immediately, this is the exception rather than the norm. For the majority of entrepreneurs, the journey will be challenging, but it becomes more manageable as the business grows and matures.
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When starting something new, it's normal to feel both confident and uncertain. Surrounding yourself with like-minded people who have gone through similar experiences can be helpful. They can offer valuable advice and insights to guide you along your journey. Don't be afraid to seek guidance and learn from others. It can help you achieve your goals and create a supportive network.
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Don't force things. Pursue what you want, but if you're constantly struggling, it may be in the wrong direction. Opportunities that align with you will gain momentum naturally. Holding onto one idea may waste time, loss of confidence, and confuse customers. Ideas are constantly evolving, so stay open to change.
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It's essential to have a trusted team of professionals when running a business. Make sure you have an accountant and a business attorney on board and have spoken with them. Consider also having a coach or business advisor to turn to for guidance. These professionals can provide support when facing financial or legal challenges and offer advice on overcoming hurdles. Having their contact details readily available can be invaluable.
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To succeed in business, it's essential to know how you will reach your customers. This is a critical question that many people overlook while focusing on their product's problem-solving abilities. Without a clear strategy for connecting with your customers, your business may struggle. Having funds, connections, or a revolutionary invention may attract attention, but in most cases, you need a solid plan for reaching your target audience.
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My advice would be to start with slow and small solutions. Even if you plan to ramp up and scale later, it's important, to begin with something manageable. You don't need to have everything set up perfectly from the beginning, like forming an LLC. Just start with a small test and iterate from there. Focus on working towards your goals and building momentum, rather than trying to achieve everything at once.
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Starting a business is a daunting task, and the one piece of advice you should keep in mind is that it won't be easy. Some people may ask what you mean by "it", but those who have already embarked on this journey will tell you that you're going to be alone. You'll be charting a path that no one else has traveled before, and you'll be at the top of the food chain. There's no one who can truly tell you what to do or how to do it, which can be a lonely feeling. However, the potential rewards can be huge. While the success rate of a new business after five years is uncertain, it's widely acknowledged that the odds are not in your favor.
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It's important not to get overly attached to your product. Instead, focus on providing something of value that people actually want. Take the time to understand the specific benefits your product offers and why customers might be interested in it. It's not enough to have a flashy, eye-catching product; if people don't perceive its value or how it can improve their lives, they won't be motivated to buy it. So, don't get too emotionally invested in your product without considering its market appeal. Prioritize understanding your customers' needs and desires over fixating on the product itself.
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If I had to give one piece of advice to anyone, it would be to prioritize quality and ensure that your clients are satisfied. In today's world, delivering high-quality work is crucial because it determines your reputation, which is shaped not only by word of mouth but also by online reviews and feedback. What's more, your online reputation can last forever, so it's vital to make sure that you always put your best foot forward.
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Based on my own experience, I've learned that having courage can be scary, but it's essential to success. If you believe in your product or idea, don't let fear hold you back. Embrace the natural fear that comes with taking risks, as it can sharpen your skills. However, don't let the fear of the unknown paralyze you. Always have confidence in yourself and the worth of your endeavors. By doing so, you can work through challenges and achieve your goals. It's also important to work hard and build relationships through networking.
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In my view, resilience is the most crucial factor in achieving success. It's vital not to give up, especially if you're passionate about what you're building. A closely related aspect is having a supportive team, which can help you stay resilient through both good times and bad. Therefore, it's crucial to build a strong team and culture that will stand with you through thick and thin. To summarize, resilience and teamwork are the keys to success.
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In today's world, building strong relationships and honing your interpersonal skills is essential. Despite this, many people rely solely on technology-driven solutions such as the Google Machine, PPC, and digital ads to generate leads, often investing large sums of money into these systems. While they may work in the short term, such systems are designed to keep you dependent on them, as your leads dry up the moment you reduce your investment. Therefore, it's crucial to focus on cultivating personal connections, as they are the most valuable and enduring source of success in any field.
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Consider identifying the individuals you want to collaborate with, as virtual events offer the flexibility to connect with a wide range of people. While it may seem like virtual events can be suitable for anyone, it's crucial to determine who your ideal audience is. Who would benefit the most from your expertise and offerings? Coaches, digital course creators, and others may be able to conduct virtual events, but it's important to narrow down and focus on your niche. By doing so, you can prioritize and address the specific needs and interests of your target audience.
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When starting a business, my advice would be to avoid seeking partners. Those two individuals were capable of starting the business without me, so they did not necessarily need me. However, I did write the business plan. Therefore, if you do choose to have partners, it's important to understand the value that each partner brings to the business, particularly when starting out.
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I would say that dreaming big is important, but starting small and considering what sets you apart from others is crucial. To begin, focus on building something small that incorporates the core elements of your idea, launch it in the market, receive feedback, and evaluate its performance before seeking additional investment. It's also possible to generate revenue with smaller products before gradually expanding and adding new features. You're almost there!
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Developing a network of relationships built on motivation, inspiration, and integrity is crucial, as these connections can prove invaluable in the future, even if they don't fulfill an immediate need. My own connection with you came about through Mike at Freefuse, who hosts my learning product. Thanks to my professional relationship with Mike, he had no hesitation in recommending that I get in touch with you. Having three dozen relationships like this will be much more beneficial than just having one or two connections. Therefore, I believe that nurturing valuable relationships and working in tandem with them is a significant factor in achieving success.
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Listening to clients is crucial, so my advice would be to prioritize it. It's important to understand their needs and figure out what you can excel at. Once you've identified your niche, focus on it and keep listening to your clients along the way.
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I think the biggest thing for me is to not go it alone. Co-founders, even if they're not co-founders, advisory board members, just advisors, or just people that you can consistently check in with are crucial. The key point is consistency. Put something on the calendar for every week, every quarter, to get that third-party, unbiased feedback or even just to bounce ideas off of. Because someone in the business world has been down your path before, even if it's not an exact product match of what you're doing. The way businesses grow, there's oftentimes someone who has walked that path before. It can be so helpful to just shorten your learning curve by learning from others. So, I think that's one of the biggest things, just not to go it alone.
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As you're starting out, why are you showing up in the morning and thinking about dentistry? If you're super excited about doing that perfect, majestic filling on a tooth, there's nothing wrong with that. If you want your clinical excellence to be your big thing, and that's how you're going to market yourself, then that's great. You will attract technician-minded people who love supporting.
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The advice would basically be the opposite of the mistake that I made. You have to get the strategy right. Just be very honest about your skills, knowledge, and the industry that you're passionate about. You have to get everything organized well. It's okay if you have a few components that don't fit in well, but the major ones must be correct. If they're not, don't move forward with execution too early, as you'll be stuck with something that's difficult to change later on.
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The lesson I had to learn was that I needed my own product and my own say in things. I just have that independent spirit. I'm not against franchises, like you said; they can be really good. I bought a Roof Max franchise with my son last year, or about a year and a half ago. So that's great because he doesn't have that desire to build his own product and create everything. But he wanted to have his own independent thing, and so we partnered. He handles the day-to-day business, and I help him market it and make decisions as a leader. It's a great fit for him because he's done a really good job at it. He's grown that business quickly, which has been awesome.
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Patience. You've got to have patience. It's not necessary to take every client that comes your way. There are such things as bad fits. As a small business owner and operator, it needs to be a good fit on both sides. And too often, you see people forcing square pegs into round holes. It just leads to pain, discomfort, and bad reviews online. Don't do it. Don't take it just for the sake of taking it. That would be my advice to close.
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It's about getting paid to learn. So, what I mean by that is, when I was starting Cove, I had done other businesses before that. For instance, I worked for my parents. I didn't get paid to go door-to-door selling potatoes or lettuce or that kind of stuff. It would be great to get paid, but the concept is that there are many companies willing to pay you to learn things. As you get paid to learn what you love and enjoy, the whole saying of "do what you love and never settle" is true. However, I believe that there's a lot of failing and learning that you need to go through along the way to figure out what that is for you.
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Taking that to an entrepreneur who's starting a business, understanding and having awareness of yourself and the people around you - your partners you're working with, the clients you want to serve - having that sense of awareness and a keen understanding of people will take you really far. Being honest and authentic and really thinking about who you're talking to, what their needs are, and catering to them, I can't stress that enough. As a new entrepreneur, it's something that I'm lucky my parents instilled in me, being a bunch of educators, right? But it's something that takes time. And as you meet people who are really excited about your idea, you'll start to see why those relationships are so important.
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One piece of advice that I would give is to take time to really strategize. Where are you going? And what are the checkboxes along the way? Because there are things that you might wish you had known. When you take the time to find a mentor to talk with about what they wish they had learned so that you can avoid making the same mistakes, it can be really helpful. Let me use the example of SEO. SEO is great, but I should have done it two years later than when I did it. So, I think that we often overlook the strategy piece because we just want to go and do it, but that doesn't necessarily mean that you'll get the most out of it.
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Be relentless in all aspects of what you're doing, and I think that I'm really testing this right now for myself with this tech company because three years in, we just went revenue positive with our MVP, a couple of months ago. I can't even tell you how many times I wanted to quit, and I was on the floor in a ball crying, thinking, 'I can't do this. What was I thinking? Who the hell am I to start a tech company? What in the world is wrong with my brain?' But then there was this other side of me that's like, 'You decided you're going to do this. Get up.' And I think that's just the way you have to be.
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I recommend thoroughly going and speaking to as many business owners as possible, especially experienced ones. If you can, try to find a mentor or coach who can support you, because otherwise, it can be a struggle. I had a great business in web design, and while we eventually became successful, it took us seven or eight years of struggle to get there. If I had sought out books to read, spoken to mentors, and involved business coaches in our operations earlier, I think we would have achieved success much faster. I realize this advice may sound clichĂŠd, and I may be biased.
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My piece of advice would be to stay balanced and don't let your highs get too high or your lows get too low.
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It's about determining how you're going to provide value, whether that's value to your clients once you actually get them, or how you're going to provide value to your audience and build your influence. There is so much money to be made when you build your influence, and part of creating that trust in the marketplace is providing value and showing them who you are and that you intimately understand their problems and have a well-thought-out solution. So, how are you going to provide value, and how are you going to communicate that value? It's one of the biggest missing links to success.
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This really helps me when I stumbled across this insight in my entrepreneurial journey. So what it boils down to is that you dramatically overestimate how much you can accomplish in any single given day, but you also dramatically underestimate how much you can accomplish over a period of time. Simply you by showing up each day and giving it your own.
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Get yourself a CRM. You don't need to have a million people come into your business to be successful. You just need a small share of influence, maybe 200 people in your pipeline, 250 people in your pipeline, and serve them very well. The more people you serve and help to become better, they're going to want to do business with you. They're going to want to spread the word about your business. So, all you need to do is take care of those 250 people who are in your sphere of influence, have a CRM, and just talk to them and have those touchpoints. You don't even have to sell. You just have to be a human being with them. That's it. Just be a human being, talk to them, help them out, and you will see your business grow and do very well, in my opinion.
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It's all about the mission. It's all about the passion. And it's all about being a 360-degree leader. You can't do it alone; you must rely on other people. You are bigger, better, and stronger with other people. Being an entrepreneur is not about being number one. Being a leader is not about having everybody listen to you. Both of those things require that you listen to everybody else and work for your people. They don't work for you. You work for the people because you know what they're working for. They're working for the mission of that company, of that startup.
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Do it. I've never met one that says, man, I wish I didn't become an entrepreneur or launch that business, or, I wish I would have waited for five years or ten years longer to launch that business. Most of the time, the answer is, man, I wish I would have done it soon, sooner. So there's no better time than the present. Obviously, you want to do it smartly. Make sure you have your ducks in a row. You're prepared. You prepare yourself for taking that entrepreneurial leap and being financially, mentally, and physically healthy in line to do that. Don't wait, get it done, Start today. The only regret I have is I wish I would have started a little bit earlier.
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Surround yourself with like-minded people, not really like-minded, but ones that can challenge you. It's a very lonely game. Ultimately, no one else knows what you're going through besides you and your co-founder. So if you don't have a cofounder and you're going at it yourself, surround yourself with some advisors, with some people who know your industry, especially if you don't know your industry. Surround yourself with people who are complimentary to you. I don't have a marketing backbone, but I've brought on advisors to my company who do have that, and who can help advise me where I lack.
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I've been talking about this with quite a few people lately because it's a similar thread to some of the conversations. Learn when to fire yourself. It would be the advice I would give you and you're not going to be able to fire yourself for a while when you're a solopreneur and you're just starting and maybe you have one or two employees, right? But you are going to have to figure out along the path when it's time to let go of certain things. You should look at it as like, I'm firing myself from being the Director of marketing, I'm the CEO, I can't be responsible for putting out all of the tweets and running the paid search program and all these kinds of things that might come up.
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Make sure you're aligned with the vision of the founder, because if you have conflicts you know, I think one thing is to be a contrarian, right? To kind of present all sides and all views to see what is possible, but also to make sure that you're aligned to the vision of any founder that you're working for because at the end of the day, what I always tell people, rather bluntly is it's their company and they had the idea, and they got the backing for it. So your job is to execute and grow the business and do it in a responsible way. So I've seen people who have clashed and butted heads with founders. There's no sense in that. It's certainly something that you can be the contrarian and you can be somebody who gives up good advice, but if you're foundationally opposed to something and you think you want to do it your way, there are certainly other opportunities to do that.
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Focus. Focus, Focus. I serve on the advisory board of a number of different startups, and the one thing I remind them of is sticking to their core competency. You can't be all things to all people. You need to think every single day when you wake up, it's the number one thing I have to do to survive, thrive and grow. Anything else that does not directly contribute to that quantitative value that you have placed in your measurement needs to go away. So, the bottom line is the focus.
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Find help to give you guidance because it's so easy to get enamored with your entrepreneurial journey and everything is fresh and new and exciting. We're kind of adrenaline addicts when we're entrepreneurs, so we can get really high off the adrenaline and not really see the situation for what it is. So even though you think you're really smart and you think you know what you're getting yourself into, there's so much that happens behind the scenes to make a company successful and have the longevity that it is worth investing in, getting a coach to help you to pivot to success and build things up properly.
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Action, taking action, and learning because I think most of us learn best as we're going through the process. We could sit here and talk about business, or you can read books, which are very good and valuable. You can learn a lot from those but most of the time, the best learning is getting out and doing. Not being afraid to take that action, but also being smart about it. Getting a mentor or getting other people that are ahead of you to have taken that journey, hopefully learning from their mistakes so you don't have to repeat those. Take action, even if it's just baby steps because taking that action is key.
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Figure out what you are great at and passionate about and as soon as you can get enough revenue going, find a way to extract yourself from every other piece of the business.
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Be very frugal and make sure you hire the right people to work with you because you can't do it all by yourself. You need to hire consultants or other suppliers who can do some things for you. Make sure you hire the right ones. I threw some money away on a website company that I hired early on to build a website for me, and they really did a terrible job. They didn't answer my messages, and all that was just not a good relationship. So be very careful with who you hire and get references. Talk to people and make sure you have the right helpers. I think that's crucial.
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Take a look at your business model and the problem that you're solving in the specific space that you're in. There are numerous amount of resources, so educate yourself. There are plenty of resources out there whether it's from funding or whether it's resources. I highly believe your network is your net worth. So utilize your network and learn as much as you can from reaching out to individuals within the industry that you're in.
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In general, be ready to not listen to a lot of people, because you're going to hear a lot of no's and don't do that but what the world needs is innovation. As a society, we aren't going to get very far unless there are people willing to not listen to people. Â If people only did the easy things, we wouldn't have any innovation. So, yeah, I'd encourage people to go for it. You can try and fail quickly, that will help but just do it.
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It's always be learning, be open. I think I've been doing this for so long. I have proof of concept, of the kind of magic that I can create for the clients that I have but the world is always changing. People's needs are always changing, and there's always something to learn. People are innovating all over the place. So I think that to be humble and courageous and to continue to be open to learning.
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Stretch to yourself early and often. As early and often as you can. When I graduated undergraduate a semester early and I could have stayed for the last one, but I already was thinking that and that time is like, okay, well, I have one more semester of time to fail, make failures to learn from things. I stepped out and left a cushy job as an EVP at a 3000 person company in 2022 and took on those interim CMO roles at the startups and what I'll say about that is I learned a lot from it and I'm better because of it. So always just trying to stretch yourself, always just trying to keep learning. Always learning.
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Surrounding yourself with smart people is probably always good, whether those are employees or former employers. I think just being really diligent about the relationships you've built wherever you are in your career. Like, if you've got 20 years like me, or you've got two years and your fresh more, you know, the university is more recent than professional experience, leverage those relationships.
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Have courage. You can have courage or comfort, but you can't have both at the same time. So I believe if you're going into a startup, there is nothing safe about a startup. There's nothing safe about anything, to be honest with you but with a startup specifically, you really have to have courage. You have to go in every day knowing that things might not work out the way you want them to and so it's easy to choose comfort, it's easy to choose the option where you feel like you're the safest, but courage is what takes you to the next level.
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You got to change your mindset. I have a lot of people who, during the past few years that I've started coaching, a lot of people who have come from corporate environments, they've got franchises, and they think, oh, man, I know how to run a business. But they also stop looking at the front end of that business. And so how do you get the sales? How do you continually feed that funnel? Has to be top of mind for your business. So as an entrepreneur, I would say don't necessarily focus on the back end at first. The first thing you got to do is get your name out there. You've got to get people to understand who you are, and what you do. That's got to be a priority for you.
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Time and time again, you can always talk about sort of technical you can always talk about sort of other aspects like, hey, you need to figure out how you can scalability do something, or you need to figure out what's the return on value or things like that. I believe all those things are to be true, but I do believe that it's one of the most important things to have people that you truly can actually really work together and cooperate with in a way that actually can be better than the sum of your parts. I know that's a cliched phrase, but really, people, the folks that you work with are some of the most important considerations that you make. I've seen so many times where founders it's crazy too. Like, founders that I know who founded the company together, and they had disagreements about sort of how the equity would be broken up because they didn't have an agreement when they started.
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Focus on your sales and your marketing. A lot of people always separate two things product and marketing but they're really intertwined because the feedback you get from your marketing should help you develop your product. And the earlier you focus on going through those feedback loops of marketing and selling and figuring out what people like and cutting out what people don't like, the better your business will be and the faster it will grow.
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Coaching. You got to get coaching and the way to do that and the trouble with this, in this day and age that everybody is a coach and you go spend five minutes with somebody on a weekend, it's like, yeah, I'm a certified coach. I would find somebody, In the area that you work in and the area that you want to get great at in your life, I say Google the best person in the world with proven results. Not that somebody that's just doing it overnight, but somebody that's been doing it for a decade or more and has years and years and years and so many testimonials. So they're not just a fluffy type.
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If you are starting and know that funds may sometimes be a bit of issue with people. However, if you are able to get yourself either a business coach or marketing mentor, that would really help amazingly.
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Focus on the pace of your learning. As long as you are learning a lot and the things that you are learning are aligned with where you ultimately want to go you can't go wrong. So change jobs, take risks, focus on the person you are working for absorb their brain, gain the skills that you need, and then when that moment of serendipity happens you'd be ready to seal it.
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Have faith in yourself and in your abilities and the courage to try. If you are confident in yourself and in your abilities and you have a great idea then you gotta step up to place to win the bet to see if you can make something of it.
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Just get started. When it comes to the business plan or when it comes to those ideas that are like the business model, the concept is going to change over time. If you have to balance listen to your customers but you're not gonna ever learn anything like hey if that product was gonna be successful if we can talk about ideas blowing the face but until you're actually hands-on doing that learning.
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Start by asking yourself a question - What do I want? Get really clear on what your outcome is. Make it very clear what you want the outcome to be, how you want to structure your business, and who you want to work with. Be clear on the types of people you want to work with otherwise you are gonna end up with people you don't enjoy working with.
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Think about the team you are building. In order to achieve the goal that you want to achieve you can't do it on your own, you actually have to have a team under you. Your team is one of the most important assets that you can build.
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Validate your idea. Don't write a single line of code until you validate your idea. 80% of startups can actually build no-code prototypes to test out what they are building before they actually go and dive into code. So, really don't write any code, and when it comes to validating your idea go and conduct multiple user interviews and try and sell your product before you have a product to sell and that's true validation right there.
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Think about the thing that you want or maybe like the person that's doing the thing that you want to do and go to where that is physically and be active there. When people are looking for recommendations, partnerships, or the JVs, they are gonna go to the people around them first and you want to be that person that's on their mind.
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Take risks but take risks in a small way if you are trying to start out and build the business. Fail small but think big. So think about where you want to go grant vision but find little chunks that you can build at a time so that you don't just bet the whole farm on one decision.
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Write as much as you can on the paper, and create processes on the paper. Don't give up definitely. Business is all about trial and error. You're supposed to try and adapt. You're supposed to find a niche in any market where you can bloom your business.
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Fail Quickly, because when you get into a business you got all these ideas about what's going to work, and sometimes you want to try to do all of them all at once and the problem is you'll never get there. Pick one and go with it, whichever your gut says is the best. Always trust your gut and if it doesn't work you're gonna know really really fast and don't get frustrated. So, fail fast and don't get frustrated, and just keep pushing forward.
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Whatever you say, say it with confidence. The good news is that you donât have to feel confident in order to portray confidence. You might not be feeling confident but you got to project the confidence.
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Getting involved in this digital age can be difficult to network and it's strongly suggested to do it in person. Ashley worked with speaking story coaches through a VC program and one piece of advice the coaches gave her you may find helpful is improv (taking improv classes) because it helps you learn to think on your feet and to be able to talk through any conversations.
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Learn the language of revenue. People don't truly understand the heart of revenue operations in the business and in their business particularly. If you're a business owner the biggest liability is financial liability and so understanding how money works are critical no matter what you are selling, what you are doing, and how you are doing it.
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Just trust your gut. Especially a woman, have this innate intuition that they should look into it and listen to it throughout their journeys. It can be scary or it can be like anxiety or might look like you are overthinking it but sometimes honing in and listening to that gut feeling can make a huge difference.
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Find yourself a mentor if you can. Somebody to guide you, Somebody that ca n have that perspective aside from yourself. As a business owner, you've got so much going on and so many things to be concerned with. It's good to have somebody who can stand back and kinda sort through all the noise like hey this is a good idea or maybe not such a good idea. Get yourself a mentor or somebody that you can talk to about the decisions you make so you don't go off in the wrong direction, get some advice from somebody who's been down that road before, and avoid some of the pitfalls.
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People nowadays are too quick to go out and look for investors and funding. Rather they should just put a little extra thought into "How could we start this on our own? and how could we implement and get cashflow from that?". If you don't need to get investors, you've come up with a very clever system. It's also not like if your system requires an investment don't shy from that as well but you still got to write up your business plan so it would invite investment.
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Many entrepreneurs struggle to talk about their business in a way that people on the other end of the conversation find engaging. When you can openly talk about your business and make people take an interest, it can lead to new relationships and possibly even new clients.
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Focus on finding the right people or finding the right co-founder. If you want to start on your own, that's totally fine. It's like if you want to go fast go alone or if you want to go far go together. Find somebody that compliments you.
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Get out there and meet as many people as you possibly can. There are so many different networks where you can get on and have a random meeting with a guy for 45 minutes each week. It is transformative. You can move from having this small circle that you are surrounded with to a broad one.
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The one piece of advice is to try to partner with someone that is good in an area where you are not. If you could find a partner it doesn't have to be your wife it could be a colleague, it could be someone else out there that would really compliment you and participate in the business and do much for that business as you can but just in a different area because you're not gonna be able to do everything by yourself.
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Keep an open mind to everything you do. If your customer is talking to you listen to them. You can't tell people how to use your product you can't say you're holding it wrong, you're using it wrong. You're there to serve them. If they need something and they are willing to pay and you can do it which wouldn't impact you that much you can try it.
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Keep an open mind to everything you do. If your customer is talking to you listen to them. You can't tell people how to use your product you can't say you're holding it wrong, you're using it wrong. You're there to serve them. If they need something and they are willing to pay and you can do it which wouldn't impact you that much you can try it.
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The best way to figure out what to do is to test it out. Once we start testing even on just 100 or 50 customers, the needs are really clear. They don't care for example about the package of the box or the big logo. They just want to feel comfortable with the high-quality item. There are so many small details that we don't know or even can't imagine but once we start testing people would tell you the same thing. So testing your hypothesis is a minimum viable product.
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The best way to figure out what to do is to test it out. Once we start testing even on just 100 or 50 customers, the needs are really clear. They don't care for example about the package of the box or the big logo. They just want to feel comfortable with the high-quality item. There are so many small details that we don't know or even can't imagine but once we start testing people would tell you the same thing. So testing your hypothesis is a minimum viable product.
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Be on LinkedIn. LinkedIn is such a treasure cove for building your brand, growing your visibility, and really finding your audience so that you can create new opportunities.
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Be on LinkedIn. LinkedIn is such a treasure cove for building your brand, growing your visibility, and really finding your audience so that you can create new opportunities.
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Having a network is important. Having people that you can talk to, having people that you can share your challenges with who aren't gonna judge you who aren't beholding to you in some way so that you get some honest feedback. It's surprising how differently someone else might look under the same set of circumstances that you do and give you the complete insight you might not have thought of. If you're starting a journey and you don't have a network of peers, create that network of peers because you're gonna need the moral support if nothing else and you're gonna need somebody to talk to.
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Having a network is important. Having people that you can talk to, having people that you can share your challenges with who aren't gonna judge you who aren't beholding to you in some way so that you get some honest feedback. It's surprising how differently someone else might look under the same set of circumstances that you do and give you the complete insight you might not have thought of. If you're starting a journey and you don't have a network of peers, create that network of peers because you're gonna need the moral support if nothing else and you're gonna need somebody to talk to.
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Once you start growing teams and managing people, the power of being intentional with your decision-making as a leader whether you are a leader of one or leader of 100 is incredibly important. When you make intentional decisions, even if you're just holding intentionality to yourself you're doing the right amount of do-diligence, you're exploring why you're making that decision, and also you're weighing out if you have multiple options, what are the pros and cons of each of these options and then when you go and make that decision or you're helping your team understand why that decision was made and helping your customers understand why that decision was made they are able to see that intentionality behind it because of the way you are able to express it.
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Once you start growing teams and managing people, the power of being intentional with your decision-making as a leader whether you are a leader of one or leader of 100 is incredibly important. When you make intentional decisions, even if you're just holding intentionality to yourself you're doing the right amount of do-diligence, you're exploring why you're making that decision, and also you're weighing out if you have multiple options, what are the pros and cons of each of these options and then when you go and make that decision or you're helping your team understand why that decision was made and helping your customers understand why that decision was made they are able to see that intentionality behind it because of the way you are able to express it.
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Just be curious, you have something in you that you want to offer, and being curious and talking to people, being empathetic and listening to their stories, you begin to match what you have in you to what the world needs from you.
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Don't quit your day job, not that you won't succeed, don't take it that way but when somebody has an idea that they would like to pursue it does take a lot of time to do it but when start to run out of the money because it not taking off like you wanted it to, it does put a lot of stress.
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Make sure you have a single problem that you are focused on at any given point in time and treat it as existential. It is just what is the single thing that is the most critical for your business at this point in time and actually worry about that one thing and then move on to the next thing. It is the behavior that could be the most useful.
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Be very clear about where you're headed. What is it that you want to do, what timeline, how much revenue, how big a company, how big a footprint, and what is your market? Be very clear on all these things that will take to satisfy you because in the end getting exactly what you want is what's going to be the ultimate satisfaction in life.
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Work with folks who value what you bring to the organization. Whether you are a subcontractor or not, you bring value and should be valued. Folks should respect that and if they don't you can walk away. All money ain't good money.
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Never get too high, never get too low. The swings in the startup are insane. One day you'll go from "Wow we just got 500 users on your platform" to "Wow this platform sucks because of the way it's built". Find the silver lining in everything and always try to learn and be better the next day you came in the day before.
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What are your goals? Goals are like road maps; they get you from one point to another. Goals provide the direction you need to reach your destination, the motivation to sustain you on your trip, and a way to measure your progress.
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Put yourself in uncomfortable situations. Do things that make you uncomfortable because that's how you grow as a person. So when it comes time to make decisions as an entrepreneur, they are never emotional you're just doing it because you know you have to and growing is uncomfortable.
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Have a plan. Maybe you have heard this before, create one page about what your business is gonna be about, what's your product and services, what you think your market will be, what your pricing would be, and do some quick math if you can make money and have all that in a place. Start with a one-page plan.
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Know yourself. Absolutely know yourself. You are the leader. At the end of the day, you are launching something and you have to innately know your strengths and your weaknesses and who you are and what makes you tick, and what you need. It's like you are the generator, you're the sole inspiration.
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Build an email course. Building out an email course is the best way to have something of value right from the beginning and to stay in constant communication with your ideal client. It gives you a place to point people towards.
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Go find the customers and talk to them. Never stop talking to them and just ask questions about their pain points. The thing that will make you successful or not is going to be - Do you understand these customers' pain points, can you find more of them, and can u solve them a solution.
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Decide what kind of business you want. Be true to yourself. If you're an introvert or if you don't like managing projects or don't want to be a manager or whatever it is. If you just want to work 2 days a week. It's up to you to be real with yourself about that don't try to make something giant. Build what makes you happy.
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Don't underestimate the power of personal branding. You go from nobody to suddenly somebody who a lot of people want to speak to and that really open doors because suddenly you got contacts, you can engage with them on social media people see that you're offering value upfront, you get to learn from them, you get to have really engaging conversations with people. There are just so many benefits.
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Just go for it. There are a lot of inexperienced founders who take way too long developing an idea, getting a lot of opinions, and not just starting. That is really the number one thing, is go for it and get started right away. It doesn't have to be perfect you can always fix it as you go along.
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Go take a course on what a start-up is. With high rates of failure, getting any startup off the ground is a time-consuming and difficult task. The courses can give you the help you need, equipping you with the skills and knowledge necessary to see your startup grow and prosper.
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Charge for your work, charge something. There are some people who know what they are selling and are starting to sell it and there are some people who have no idea what to sell. Connect with people, and talk to people, which is hard sometimes, especially online and when you are remote. Dm them on LinkedIn, and email them to get their feedback.
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Hire a copywriter first and foremost. The person who can really put your thoughts into words is a copywriter. It makes a big difference not just in influence platforms but also in the social communities. So it's nice to really be able to get your message across in a concise manner on your website, or when you're pitching just in general.
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You need to become open because of the journey and the process of developing a company you're always going to learn. Be adaptable to change in a dynamic environment. So as a business person, you need to be adaptable to change and don't always be too headstrong. Listen to the advice of the others and take what is needed to be incorporated, don't be too closed.
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We need to be clear about what exactly our motivations are, they could change over time. Your mission could evolve to a bigger one or a more narrowly focused one. The first question you need to ask yourself is why exactly you are doing this. What exactly motivates you will help you get through the challenges as the path is tough most of the time.
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Fortune favors the brave. Those who take risks often reap great rewards; those who are courageous are often the most successful. Take a chance in order to get what you want.
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Make sure that your finance is in a good spot. When you're trying to start a new company and you are financially stressed you will make really hectic decisions. Get more money than you think you need. If you need 50k to start this get 75k, you can always pay back the loan super fast. Have a plan in place so that strategically you can make confident decisions and invest in the company properly in the very beginning.
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Launching is the big deal. So, making sure that there is the hype about what you are going to be offering in terms of service or product for the prelaunch is massive even if you are still a couple of months away, the build-up is really important.
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You need to work on your business and not in your business. It's not the "what" it's the "who". It's not what you need to do, it's who can you help to what you need to do. Spend more time working on your business by valuing and educating yourself and the employees instead of just pleasing your customers.
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Make sure the "Why" of your business is bigger than yourself. That's what going to motivate you to really get up every day when it's tough and hard and also help you to seek that community to support you. So, make your why bigger than yourself and be willing to pivot.
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As a new entrepreneur, there is no such thing as work-life balance. It's working all the time, every day, every week, every month for a number of years and that's just the way it is if you want to be successful. If you want to work 40 hours a week don't be an entrepreneur. If you want 2 weeks of vacation every year and Christmas off don't be an entrepreneur.
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The culture of your company is dictated by the first five people you hire so be very careful about the right attitude.
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Be prepared to work. There's a lot more work than you realize, it doesn't matter what business you're getting into. So, if you don't like to work or if you're not willing to work, just go work for somebody else. It is a lot less working 9-5 for somebody else than is for an entrepreneur. If you're not willing to put in extra hours it's never gonna work for an entrepreneur.
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Things take a lot longer time than you expect. Pati thought that in six months they are gonna have a super cool product in the market, people using it, getting revenue, and signing contracts but in fact, after six months they barely launched an app in which only three things were working. So basically things take time.
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Put the customer in the center of your business. Focus on solving a problem for a customer. Focus on the pain of the customer. If you focus on what's keeping them from growing their businesses and doing their jobs every day, you can put those problems at the center of your business and your services then you will be successful because now you're solving the pain.
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Spend some time building an operational business structure. Business owners, founders, or CEOs tend to hold everything in their heads and if you're going to be a solopreneur then maybe it's not the end of the world but if you got any sort of scale in mind you're gonna hit a lot of roadblocks when everything is in your head. So, getting things down on paper, whether that's a process, or operating procedures you can share with the team. If you get that organizational structure in place and can share it with the team, get it out of your head, you can move faster, and also you're not gonna be the bottleneck of everything and you can dedicate a lot more freely.
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It's going to take you twice as long as you think, it will probably be 3 times more frustrating and challenging than you could imagine and it's millions of times more rewarding. If you stay the course, ask for help, and don't give up. JUST KEEP GOING.
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Invest in your meta-skills. Skills like sales, leadership, technical skills, and creative skills. Find out the skills you're most resonant with, like are they interpersonal skills or creative skills, or technical skills, and invest like double down on the things you both love and have a real market value no matter where you go.
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The biggest myth deals with the issue that people think, that if somebody has a hit song or a big success on a chart or billboard, they are going to be an instant millionaire or just going to be wildly successful. That is the exception rather than the rule.
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You don't have to know why you are doing something when you're starting out. The pieces to why you're starting don't have to be in place. If you have a good idea that's good enough for the first few stages of business. The pieces will follow the place later you don't have to know the "why", you might know the what, how, and where but the "why" may reveal itself to you later.
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People think that when you go to a training, it's a one and done. If you're in a training you actually have to be immersed in it, you've to keep doing it. Training that Ryan finds very valuable, he does them multiple times. The books that Ryan read are very valuable he would read them multiple times. The first you go through anything you're only going to absorb 10-20% of that at a retention level. There are still 80% of things that were said or covered that you're not going to retain after a 24-hour period.
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The lifestyle that you have as a business owner should be a big factor in what type of business you wanna start and the goal you're trying to achieve at the end of the day is important too. If you're gonna start something it's going to be your life for 10 years. So make sure you know what you're getting into. Talk to some other people who have done it before and just make sure you're understanding before you startup.
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A Brand is only the domain of consumer-facing companies. It's an organizing governing principle that allows decision-makers to make informed decisions faster, better and cheaper. That's what a brand does for anybody.
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Your business will continue to grow as long as you focus on what is important to you: delivering high-quality coaching, development, service, or high-quality product that you want to serve. You will continue to grow if your customers know what they are coming to you for: quality.
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You read so much about the food and beverage industry right now that plant-based and keto and everything else that is going on, you'd think it's an easy industry to be successful in, because there are so many new brands launching. Yes, there is a lot of access to capital but there wasn't 20 years ago it's very challenging and very competitive. Grocery is an expensive market to launch in and one of the myths there is that it's easy to be successful in this industry.
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Get really clear about what is it you really want so that you can focus. You don't have to do a lot of things to be successful rather than find specific things you need to focus on and that's where coaching really helps to align with that. So figuring out how much time do you want to spend, how much do you need to make and what do you love to do and then finding the highest value offer you can create with those three things intersect, and once you found that and you have that strategic highest value for you then learn how to market it rather than just feeling like you had to do all the things.
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When you look at "Mistakes" as a mistake is a negative term like you did something wrong but it's not. There is no such thing as a mistake. As long as you are able to learn from it it's not a mistake, it's beneficial. A lot of entrepreneurs say that they look at people who failed a lot more times than they look at people who are more successful.
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Just start, people who are thinking about starting. You don't need to sit and ponder for weeks or months about whether or not you want to do it, the best is to do it and see if you like it. Let data guide you on your path because when you do it either you'll absolutely love it which is great or you'll hesitate and avoid doing that.
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Fail fast, move fast, and don't reinvent the wheel. If there's something that's been done you can use it. Especially in engineering products, Â use APIs, use things off the shop. You're Initial goal should actually prove that this technology is possible or the product is possible. So, get that MVP out, get it to the hands of people and have them use it. sometimes all the planning in the world won't do any good unless you actually take that first step and take action. It's not gonna be perfect the first time around, they're gonna be a lot of holes, bugs, gaps in whatever you do but you own it, you actually built something, delivered it. That is the most important thing.
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Find a mentor, find someone who has tread that path, find someone who has already done it, it makes life much easier. In the business journey of Anton Dormer, as he reached the peak of his business success, there was nobody beside him he was alone. He had to do all of the research and investigation. There was no one for him to show a way to achieve his success. So, basically find a mentor who could guide you along the long journey of your business success.
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Build Network. That's extremely important. Bryon when was younger, he used to think network building is not authentic because he felt like using people and like trying to figure out who is most valuable to him. After a while, he realized that none of us is really that great all by ourselves. It's not about figuring out what others can do for him, it's really about recognizing that he's better with other people in his network.
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Focus on three things - Skillsets, Character Traits & Beliefs. These are the three things that will impact the entrepreneurs. You are responsible for that business's growth, not the people you hire or any other factor. It's the skillsets, beliefs, and character traits that you have as the entrepreneur, that allow that asset to grow. If you're lacking in one of the areas, you might have all the right skillsets but not the beliefs to follow through and do it. So, it has to align in a way where you're not capped to a certain level because your beliefs are lacking or you're character traits are lacking behind. Try to align all the three factors on the same level.
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Never quit and be willing to pivot. Basically, don't marry your vision for it be open and allow your business to grow the way it needs to.
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Don't be afraid to fail and fail often. People try to be perfectionists, they don't want to fail and lose all their confidence after failing. Failure isn't permanent, learn from your mistakes and try not to make the same mistakes.
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Look for opportunities for the most growth. The path of most growth and when you're looking at a company, the number one thing you should be thinking about is, are they my people? Most of the time Steve would think he'd learn something at a company and apply it to his company later, this is a huge step jump, but every time he felt like these are not his people. when he unraveled for a while and started to feel like his culture, everything felt right for him.
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Think Big, that's definitely one of the things. If you're in a startup model, it's very easy to bog up in the details and lose sight of the big picture. That's what most startups really fail or actually make the mistake of just getting wrapped up in the details. There are people who are good at the details but as a startup entrepreneur, if you're actually building out the business you must focus on the big picture.
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The thing is just GO. Many entrepreneurs will just be worried about not having a concrete business plan or not necessarily starting anything before they get an IP or a fully functional up and running website. All this stuff is really important, but you could just really get going.
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Good advice applied at the wrong time is bad advice. In the early stages of Wayne's journey in business, he used to look at the big gurus and magazines and see what they were doing and how are they successful and he would tempt to take what they were doing and apply that to his little small startups.
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Success comes sooner as sooner you get out there. Put yourself in visibility. Now is the best time, it'd never gonna get easier. So, just put yourself out there, find the confidence to do it, be willing to learn, be a little messy and figure out as you go.
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Do Diligence, whether you're starting or buying a business. Harris's background was to do CPA and what he does now is helping people get funding as a startup business specifically using their 401k and RIA which is stuff people don't know about. Most people don't know they have the opportunity to perhaps use their RIA or 401k. So, do diligence both in if you're buying a business or starting a business. Make sure you ask a lot of questions of the seller and that you're comfortable with the answers.
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The things are gonna take time, as long as you stick with the business, there's gonna be ups and downs of the business, especially as a startup. If you're a solution-based company, say you got 20 customers, every customer wants something different, so you have to prioritize the customers, in end you got to stick to your business.
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Listen and Absorb as much as you can about the industry, especially if it's a new industry. Go try and talk to the folks who have been there before. Especially if you enter a new venture and maybe you haven't done this before, be a sponge absorbing as much as you can, talk to people, read, and listen (to podcasts, and webinars) to all these great sources of information there really for the absorbing.
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Do what your passion drives you to do. Make sure you're absolutely entering into a path that is going to provide a solution to a problem, that's the first thing. The second thing is to make sure you have time for talented treasures to enter that journey and then just engage with the best people.
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"Patience and commitment" Nobody will ever be more dedicated than you and you just have to find the time. It is not right to take the quantity of time over the quality of work. You got to find the windows of opportunities and seize them, put in the time and the commitment to the business from day one.
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You need to work on your business and not in your business. It's not the "what" it's the "who". It's not what you need to do, it's who can you help to what you need to do. Spend more time working on your business by valuing and educating yourself and the employees instead of just pleasing your customers.
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Adaptable mindset, If you want to be an entrepreneur(starting a business), you got to have the right mindset, because it's straightforward for people to give up if they don't see any results or anything manifesting and they might wanna give up in the middle of one year so to speak, not everything is going to be shiny or golden. The journey is hard, there is pain, and there are ups and downs, Judy Lin emphasizes - you want to go to an industry or a niche that you enjoy, typically it would make you last longer and you would be happy putting in the extra hours to the business.
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Make sure the "Why" of your business is bigger than yourself. That's what going to motivate you to really get up every day when it's tough and hard and also help you to seek that community to support you. So, make your why bigger than yourself and be willing to pivot.
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Don't be scared to ask for help, you'd be surprised how many people are willing to help you if you just ask. Lots of times, you're starting something, you question yourself, like, is this right? Am I wrong? What should I do next? A lot of times reaching out and asking for help, people would be willing to give you advice or lead you to somebody who could help you.
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Were a 100,000 percent into this business. This is not a side hustle this is a full time day and night, even while we dream, type of job. This is what my dreams consist of today, dreaming about Sim. The one thing I would say to entrepreneurs who are looking to start a business if you believe in yourself go all in. Take the risk, there's nobody better to bet on then yourself. If your in the stock market your investing in stocks, those prices go up and down and you have zero control over what happens. But if you believe in yourself go all in, work your tail off. A lot of bad things are going to happen along the way, a lot of mistakes are going to be made, learn from those mistakes. Continue to work hard and move the ball forward every day. Incremental movements forward will add up and eventually you'll get the hockey stick curve that everybody dreams about.
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Don't wait. I waited many years, I always wanted to start my business. I always knew that I could create something. I already had a ton of ideas that I was working on. My two cents are if you really feel like you were made to start a business and that it is what you like then do it. Don't wait to long worrying about money or how you will actually do it. Jump in and then raising money and find customers is easy if  you really like what you do. Your going to get help along the way and people will reach out to you. If  you really feel that you are made for it go ahead and start right away.
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Never launch your perfect product, always launch the imperfect product. If you think back to the iPad 1 it only became the product that it is after several iterations. In my personal experience when I wrote the book "abominable secrets revealed" It was only a year since I learned how to type. Prior to joining the Air Force I did not know how to type. I had to figure out how to type 30 words per minute to get through training. The book was published without a ISBN number, I didn't hire a proof reader. And what I did is I published it and then over time I perfected it. Don't launch a perfect product, always go ahead and launch the imperfect product and then improve it as you go.
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Keep talking to people that you don't know that you should know. What I mean by this is that often these technology companies are founded by technologist and they think they know all the answers. Â But they have to go talk to the economic buyer and they have to understand what the economic buyer is really thinking. So my advice is never stop reaching out to talk to people.
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Talk to people. Find out from other people who are doing that work, something similar, what its like. Ask them for pointers, talk to them, engage. Its almost like networking, I guess it is networking. Talk to people who have done it. I thought I knew what I was getting into, and for the most part I did, but there were key elements that I was missing that slowed me down. You may find that the experience wasn't anything like you wanted it to be. You may find that its exactly what your are hoping it is but you have to take certain steps to make sure your not going down the wrong path. It's like any other business once you go down a path its hard to back track and start over, or redo even part of it. Talk to people who have succeeded, who are running their own business. Ask them about building a network, acquiring clients, marketing, the legal aspect. Get advice. If you haven't done it before you don't know what you don't know. If you don't exactly how to do something of the things you will find out, at least you know where you are on the landscape and you can plan accordingly.
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Branding is everything. People want to do business with people not a logo. That is what I very much stick by. You have to show case who you are as a person, why someone should do business with you, what the culture of your company is. That is what people want to see when they do business with somebody.
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Start with the end customer in mind. Figure out who your end customer is going to be and go starting lighting those people up. Because at the end of the day that's who you have to satisfy. So whatever the business deal is just figure out where the end customer is going to be and make sure that through letters of intent or something like that you get a relationship in place. And if you do that  you'll be ok.
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Remember that everybody sees the world through their own lens. I was using the example of a telescope with somebody and we all have the view that we see and so as you're starting off in business, or even later on in business, everyone's gonna have that amazing piece of advice. So just really take everything in with a ton of gratitude that people in their heart desire to help you. Â But then recognize that everybody's wonderful piece of advice is from their very focused view, from their experience, and it's tinged with all of the the baggage they bring with them in life. So to listen to it but also always make sure that it rings true to your experience. If it feels right double check it. Ask other people if it's well meaning. But again we all have our own perspective and just recognize that everyone's advice is coming from their perspective.
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Really do the homework and hone in on your target market. Research, research, research. You have to be clear and spell out your value proposition.
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Don't get ahead of your skis. Don't think your idea is so great that you're going to bet the farm on it. First of all, you need to make sure that your business model is solid and the best way to do that is to try it out in a small scale. You find a small venue like a restaurant or any kind of a franchise, you build one and make sure that it works, and I don't mean just hope it works. Run the numbers like I did with that first gift shop. I knew how much my CD's cost, I knew how many I sold and how much I sold them for and I knew what my net profit was. Bingo it's hard numbers you can't argue with them. So make your model, make sure it works, and once you've got a working model then you can go as hard as you can run with it.
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Have a good plan. Because I pulled a little bit of a TF2, if people know that video game, where one of the characters asks a support, are you sure this will work and the support replies I have no idea. I just had the idea and then just punched through it really. I just kept punching through it until things started to mold together. If you can sit down and give yourself some time in the day to give yourself a couple hours to look up business establishment. Understanding your company mission, your company values, your mantra, developing an early press kit. Something you could provide to potential investors or employees to show you have a business plan. I'm convinced I could work for you comfortably because your a man with a plan, and I can contribute my plans to that as well.
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Find the best solution for every problem. Read professionally or personally. There's a saying of mine, figure out the solution the very first time otherwise you have to figure it out again and again until you master it.
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We tell people who your going to hire is most important. As a small business owner that is what I always think about. Our firms slogan is to hire slow and fire fast. We do our best to hire people based on culture and our values, but it doesn't always turn out to be a good hire. We try to be transparent and set goals and milestones for them so we can quickly assess if there a good fit for our company.
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Honestly, understand what you want to achieve and why you want to achieve it. You hear that all the time right but, you hear it all the time cause its important. Really focus on making sure you're not limiting yourself and bottlenecking your own growth. Check out that book the Big Leap by Hendricks. One thing I did not mention but is pretty important to me is making sure I write down my goals. Plan my goals ahead and keep track of them daily. One thing I always tell the team is to slow down to speed up. take the time to plan out what you want to do before you go for it. Â Lastly remain a student. Don't stop learning when you feel like you've gotten to where you want to go. Keep looking for educational opportunities.
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Go all in, I mean it's something if you're going to get into, it's like Parks and Rec, like don't hold a half asset you got to get a whole asset. So go all in. You know you can't sit there to the side and say you know I'm going to work on this small business but I'm going do it under the confines of nine to five. Like if you jump in and you're not the founder or you're someone early that's joining in you need look at it as this is your baby too. And so just because you join in and there's no huge equity stake that's given to you out of the gate, it still behooves you to help out.
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Take the time to structure things correctly. From a legal, financial, and tax standpoint, you want to get your business set up correctly. Intellectually property. I think it's very important to get the right counseling and to get the right structure in place beneath you to have a foundation to go forward.
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Get involved in content. Investing in your personal brand. Spending time on social. Whatever that looks like have a strategy for that because it's more important than you probably think.
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Have a niche. It is so important to have a niche even a micro-niche. Like many business people, I was afraid to lose customers, so it led me to be a generalist. So, the first thing we do is translate from English to many languages and many languages into English. Having a specialty now I realize is so important not just for my industry but for anything.
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Make sure you are uncomfortable. That's always the first step. Having a level of discomfort keeps you on track and keeps your focus. With that, I would say read everything you can. I don't mean just about your industry and becoming an expert in your field. There are so many outside things that contribute to your decision-making. It could be baking or learning how certain calls get called in a football game. So many things like that. Those are things that help with decision-making processes.
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Prepare to work hard and give it the runway that it deserves. What I mean by runway is it's going to take longer than what you think to be successful. I think people are looking for short-term wins, get rich quick, whatever it is. If you think in terms of decades instead of in the next two years I am going to make this much money. Put some longevity behind your plan and then go execute your plan. The correct expectations will be set and you will build a solid foundation. You will learn a ton along the way and have a lot of fun. Think a little longer terms than short term.
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"I think the biggest piece of advice is to get the right people on your team and don't be afraid of doing that. Take the time in the beginning to strategies and hopefully move forward in a way that you can afford to financially invest in those people. For me, I have a wonderful business consultant and he has been really helpful to me as far as moving forward and giving me those gold nuggets and pieces of advice to build right in the very beginning and the structure that I need to have in place to start things right."
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Persistence is king and, I know you are going to hear that a lot or don't give up, don't have fear. But the way I describe it is there are days when I am kind of afraid of heights and, there are days where I feel like my job is to go, walk on the edge of a seventy-story building and look down. I just swallow it and get on the train and start working. You really have to push yourself past your comfort zone. Don't pay attention to the negative. Focus on where you are getting traction and momentum. Believe in your passion and what you are working on. Focus on building a network with people who really buy into your dream as opposed to spending your nights staring at the ceiling thinking about why somebody told you that you suck.
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Definitely product-market fit. I think too many start-ups say I have a great idea let's just do it. And I always say: well no, we have to figure that out. And they go but, I read the lean start-up book and, I know if I ask people if they like this idea, then it's good. And I say: well, unfortunately, the lean start-up book didn't tell you how to ask the right questions. They told you to go, ask questions but, they did not tell you how to ask the right questions. Un-bias questions, non-leading questions, and, that's what we do. I tell people that instead of studying, do people like your idea research; what are they doing now? How do they do it? What's working for them? And what's not working for them? If this is your target audience, fine-tune that solution for their unmet needs and their tasks.
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You really can never stop learning, there are so many good resources out there, there is so much good information. And then specifically to learn about how to have the right mindset to be successful. Because I really believe that mindset is 50% of the battle. And once you can believe in yourself and believe that you have the ability to make money and to be successful with your business your half way there.
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Anything that you don't think you can do. If you are an entrepreneur, don't waste time trying to figure it out. It's going to waste time and, it's the one resource that you can never get back. People will ask what's the most important thing in your life and you go well you know there are a lot of things love, money, what have you but believe me time. The older you get to realize this, that is the one resource you don't have enough of and, it's limited so, it's going to end. So the best thing to do is to do what you can do. Use the talent and skill and the knowledge that you have and everything else; if you are starting out as an entrepreneur, make sure that money is going to the things that you don't know cause you are just going to be wasting a lot of time and resources and, you won't get the return on it. ROI is the bottom line here.
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Speak with as many people as you can. But, always know how to listen, and what to learn from every type of conversation and from every interaction.
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In the first 4 years of the business, you're doing three things at once. You're working in the business, serving customers, answering phone calls, in my case mowing grass. And then you're working on the business. What does the marketing system look like? What does the employee recruitment system look like? What does the employee retention system look like? How do we activate cold customers? All of these things are working on the business. Then you're working on yourself.
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In addition to knowing what it is you want to do, look at how other people, either in your field or adjacent, do it. You can learn as much from the good that they do as you can from the things that you disagree with. It's really useful to be able to thread your own path that's a little bit different from what everybody is doing but getting the benefit of what they have learned.
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Get really good at hiring. Your team is going to determine whether or not you are going to be successful. All your business problems are people problems in disguise. You can tail everything back to your people. There are some of us who are entrepreneurs who people are drawn to, and they want to work with us for whatever reason. That's great, but if you don't have those skills or that muscle that's something you really need to build upon. You need to do it from the standpoint of who you are as you build your business. what are the values of the organization? People who align with the organizational values are going to make a greater impact, and going to be a better hire.
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As soon as you think you've done enough research, you are only halfway there. You need to do more. You need to act as if you are currently running a business and find out where those holes are. If you could be where I was a year into my business when you first start, which I think entrepreneurs can be if they just know more. It's a great system. I would also ask to speak with other start-ups in similar industries. Not someone who would be a direct competitor because that would be strained. But if someone is willing to say well with me and CBD and someone is launching a different type of nutritional supplement. Approach someone like me who is obviously willing to share but learn where these holes are. I can listen to as much expert advice but, if I can't really see where other people have made mistakes it's very hard. That's why I think it's such a great question. It's very hard to then know what your potential mistakes are going to be. So as soon as you think you're done, you are only halfway there when it comes to preparing to launch or actually make it happen.
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Be open to advice from others. Listen to people. Learn from people. Find people that have done something similar and try to learn from their experience. I can't emphasize enough how much it has helped me. Not just having a mentor but having people around me. Being able to learn from people, for example: with fundraising. The first time I went out and did that I got a tremendous amount of input from a good friend of mine that has done it before or multiple friends that have done it before. With scaling operations, It's always great to get input from people who have done that before. Hiring if you don't have experience, it's tremendously difficult to find the right people to work with when you get to that stage.
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So, I've learned that you prepare for growth and have the compacity. Then once you have the compacity, you start the marketing piece and the sales piece. You start looking for new business. When the new business comes in, you can handle it. Then your customers won't be dissatisfied and your new customers won't be dissatisfied, because you are able to meet their quota. That's the most important thing that I have learned. I really encourage any start-up that; don't rush to get more business. Build the compacity and infrastructure. Then once your infrastructure is built, you have the ability to meet the needs of your clients.
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Bootstrap. It's incredible what you can think of and come up with limited resources. Giving away equity and bringing in a partner soon. I find that these create more problems than they solve. Getting outside funding. Borrowing heavily to launch a business, I think, is a mistake. Scaling it down to the point that you control it, you don't owe anyone anything makes you very resourceful and creative. I think ultimately you will grow the business faster and bigger that way. So, running lean. Keep all expenses variable. Use contractors, not employees. And delay in-fact avoid partners if you can.
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If someone is starting, I would say, get a mentor right from the bat. Get someone who has helped build a business from the ground up. Don't just try it yourself cause it will take you four years where it could have taken you a couple of months to figure out exactly what you are doing? Who you are doing it for? What's a mission and vision is and how do they differ? And how having that strategy set up from the start will help you exponentially in a year.
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Tell them to be cautiously fearless. I would tell them that there is nothing stopping them. They have as much right and as much ability to do this as anyone else. I've met some people that maybe their IQ isn't the highest or maybe their family does not have the most money. But they would just come and, they did it. People will help you if you ask for help. Don't be afraid to get advice. Don't be afraid to listen to good advice. Sometimes you have to go in your own corner and plan. Other times you have to just listen and ask. Where there is a will, there is a way.
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You need to know enough about finance to be able to speak the language. I relate it to communication. If I am going to go to a foreign country if I know how to speak the language, I am going to have a much better trip than if I have no idea how to speak the language. That does not mean that I have to be a professional speaker or that I have to be a literary genius in that language. But, I have to have a basic level of literacy.
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Someone has already taken that journey before you. So finding some that's started something similar or in the same industry that you can become a mentee of that, you can learn from and not have to recreate some of these experiences that someone has already walked that path so, there is no reason to make the same mistakes.
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Number one, you are either built for this or, you aren't. You either have the fire in your belly or, you don't. Nobody will push you harder. Nobody will make you deal with and overcome adversity harder than you. Don't look to anybody else. Don't look to clients, partners, employees, or vendors. It's either you are committing to this, and you have the fire in your belly, or you don't.
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Don't allow yourself to be blinded by the purity of your own vision. I have seen too many people who are so convinced that their vision is pure and presents the best and the only solution to the problem that they fail to see that some of their assumptions are flawed. If being an entrepreneur requires great intellectual curiosity but, also intellectual honesty, you really need to be nimble, humble, self-aware, and honest so you can adapt and recalibrate. Drive and focus are really important, but honesty and the ability to process what you are learning even if it means you need to pivot or call it a day is really important.
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The short version is "quit or become rich". This is actually by Po Ram, so it is his quote. A longer version is my own version, which is to have faith in yourself, have faith in life, and be very focused on what you are doing.
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Be a little bit more prepared in the beginning. Understand the true costs of what it will take. I had the fortune of having a little bit of a savings plus retirement income. Plan out your I can do this. I have six months to start making some revenue. What is my minimum revenue point?
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For all the early people you bring on or cofounders, invest into your equity and into your position because you are getting married to somebody. In some cases, you might not know the person very well. Maybe you have different opinions or something several months into it or a different direction you want to go. A pivot you want to make. So if you don't invest in your equity, it makes getting a divorce very difficult. If you and I were in a business and I said Devin, hey, we are just going to split the equity fifty-fifty right from the get-go. Then we get to a point where we decide we want to go in different directions. Now I have to deal with you. You have fifty percent of the equity and, I have fifty percent of the equity. As opposed to if we were in an investing schedule. Where every year, we are investing ten percent till we get to what it was and we decide to part. We would have some sort of recourse to not have to give up half the company or not buy out the company.
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Build a pitch deck. Google pitch deck and find a way to build your pitch deck. The reason for that is who knows you might need to go out and get funding so, that is the first reason you might want it. The main reason is it really does bring home and drive home what it is you do. Why you do it, and why somebody should care. If you do a good pitch deck you touch on your finance, marketing, operation, and founders. You've touched on every single thing in a very short time frame but, it's incredibly valuable.
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Definitely, what I said earlier of really looking at what already exists in your community. Not just well, no, I have never heard of someone who is doing this. No, you need to dig in. Most of these have nonprofit councils of some sort. Dig in and see who is at least serving the demographic of people that you want to serve. What in the area are you doing with them? Can you partner with them on adding something to those services?
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Definitely get your paperwork and everything in order, and then be ok with the mistakes because that's part of the fun and part of the learning. No matter how much you study or how much you learn, actually going and doing is going to give you better results even though you make a million mistakes than if you just think about it forever.
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When you are starting a company, you don't need to decide what you are going to be you should actually focus on what is really going to sell and, can you really add value? In the process, can you learn? It's obvious that you have dreams and aspirations. If they are very big, such as wanting to create a very large company, then focus on finding something very unique that you are going to do. If you don't find it and you still have that ambition stop. It's ok to close down the business if your ambitions. But if it is not, then know in your heart that you still have a better company and have gone through the same pain that other companies have gone through.
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If you can get a CRM and set that up and then use that to build out send email marketing. That gets further down the road. Start to collect data on each person you are working with. Use that to further conversations and start to realize how you can plant those seeds. Whether they enjoy a local coffee shop or they are a huge foodie. They love an NFL team. Find things that they enjoy and use that data to plant those seeds. So I think, get a CRM. Start adding people in there. Existing connections, people that are new. Then start to build out your CRM. Start to learn how to use that better. Then effectively within the next year, you should be able to have this referral engine that you can start working with.
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Having a really solid business plan and knowing your competition. Doing a competitive analysis. Figuring out every business model. Having strong advisors and having a good team. Those are all really helpful. It's not just an idea; it has to be well thought of before you actually go and spend years and hours of your life in it.
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Set up an advisory board of people that you can talk to along the way immediately. Two days after you start your business. In fact, you should probably, before you start your business, get one or two people that you can really trust and run some of your ideas by them. Not that you're going to listen to everything they have to say but having people around you with diverse backgrounds and experiences makes the process much easier to go through.
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Education and research are always key. If there is something you want to learn more of or get on, double down your efforts on the understanding of what it is you are trying to do. I always say that is the best way. Sometimes the right information can be a game-changer. It's out there and, it's about locating it. It's about getting it into your hands and minds to use outwardly. That could be a mentor. That could be a business strategy coach. That could be anybody. It's just about getting it and applying it. Get the knowledge and then apply what you are learning to your business.
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I think being a ravenous reader is great. I think that you know I've learned a lot from books on how to build a business, culture, and whatnots. I think really reading a lot, especially about a particular start-up. Or if you are starting up just from people that are in your industry is important. The same part is really putting yourself out there to reach out to people that are in your industry. Or get a mentor essentially.
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Invest in yourself. Invest in yourself, whether that is reading a stupid amount of books or hiring a coach. Bring in someone to help and encourage you. This can go along with that last one. Know that you are worth it. You have the ability to do this but there are so many things that you probably don't know. Take some of your funds or set aside some of your funds and invest in yourself.
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Get really clear on what it is that you want. I'm in the position now where I work with hundreds of business owners. Most of them have gotten lost on the journey and forgotten why they started in the first place. The truth is that we usually tend to overcomplicate what we are doing. We usually tend to add on more than we want and make it more expensive than it needs to be. If you really get in touch with what is the result you want? What is the lifestyle you want? And you build your business around that you'll avoid a lot of detours that are unnecessary. The last thing you want to do is build a successful business 20 years from now, look back and say I don't even like what I built, or even like where I am at. That's what a lot of people are on the path to do.
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That's kind of my struggle. What to do? Whether to stay with my current lifestyle which, I really like. Coaching businesses and maybe writing books and tinkering with things. Or I should switch gears and try to go for it. I am always thinking of Ray Kroc. I think he was 53-54 when he started McDonald's. So maybe it's not too late for me to do this if I really want to. Try to make a huge impact with the 1.5 million companies that start for the solution that maybe I could provide.
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Get a mentor who already has a lot of experience. When I joined Polar, for example, I got a lot of support and trust from one of the co-founders. I got promoted very fast to a very big position. The thing I learned the most is and would recommend to anyone is to learn a lot and in the best way possible to just get a mentor a see how he or she works.
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Think about distribution. Think about who also speaks to my audience and how could I potentially partner with them? How can I find a win-win-win solution for the potential customers, the partner, and myself? Distribution is the shortcut to business growth. For us, we really did not do too much marketing at all. We focused on distribution which got us our early customers and still several customers at the moment through these partners that we have established. It's a long game but, distribution is your shortcut.
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Start small. Be methodical with your purchases. You might think you need XYZ to do your job. How can you go about doing that with what you have? Let's say it's a small business that once to start doing website design. You don't need adobe creative suite. You don't need this five hundred dollar a month piece of equipment to do stuff. How can you figure out how to do it with a text editor? How can you figure out how to do it with what you have on your computer? Or what can you use the trial for? A lot of companies give you a trial for a month. Try for a month.
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Find someone who you admire if you can and, have that person be a guide for you.
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Disappointing my customers. So If we get it wrong with our store customers, the ramifications of that are big. Getting it wrong for them can be you, know, it stems from inventory. Do we have the right inventory? Did the inventory come in correctly? We are offshoring so, we don't get to inspect the line and see how things are coming off. We receive it; We pay for it; We put it out there; Yes, there is quality control but, the size and labeling can have mistakes, and if you don't catch it till it's in a store, that ruins relationships. Disappointing my store customers is probably the biggest deal. That's what I worry about the most.
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Building a little bit of a relationship is always a great thing there as well because you are going to be in the deal with investors for a period of time. They know that too so, they are looking to check you out and, you are looking to check them out. The key is you have to demonstrate the growth story. Step one, you must have a growth story. Step two, you must be able to tell it or articulate it.
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Do your research and do it to a level. If you are going to bootstrap anything, you can bootstrap this. Or, if you work in a place that has access to research databases like law firms or consulting firms, you can get this information for free. You need to develop your idea before you even bother stepping out and talking to people about it. Research it to a level where you believe in the idea more than you believe in yourself.
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I surrounded myself with around six people who I call personal board of advisers. They were basically people who expected nothing from me. They were getting no financial gain for spending time with me. They just wanted me to be successful. Each of them brought to the table a different set of experiences and often compensated for skill sets I did not have or I was developing. I spent time rotating through them and talking to them. Grabbing coffee with them regularly and shared openly where I was at. I would recommend this is one of the most powerful tools that entrepreneurs and people who are joining startups can leverage to really help steer the success of their business and the success of their careers. It's one that I learned so much later in my career than I wish I did. I would just recommend leveraging this powerful tool of boards of advisers.
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Did you know that 50% of companies that raise series A never raise capital again. So if I just focus on that short period of a company which could be a couple of years. There's an enormous amount of complexity. There's a lot of things that go wrong and, there's a lot of things that have to go right. If you are not passionate about that problem you are trying to solve and the solution you are bringing to market to solve that problem then, you will never make it to series A.
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I think the piece of advice I would give to aspiring entrepreneurs here is basically, build something small, simple real right now. Get it out the door, deliver it and then iterate on top of it. It doesn't need to be perfect now. It won't be perfect ever, in my opinion. Being able to get something out the door quickly to validate that idea is a lot more important than spending hours and hours making it perfect and potentially never launching it.
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It's worth making the investment in people that are really good at their job. You focus on what you are really good at and your expertise. Hire those attorneys, HR professionals, the marketers, whatever holes that you have. Make the investment on the front end because it's going to actually save you time and money down the road vs. you trying to figure it out on your own.
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Refine the product. Always work on refining the product, making the product or service the best version of its self. Ultimately that is what's going to bring people through the door and get people interested. Have people wanting to invest or having people buy out your company.
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Make sure you love it even when you hate it. I think the thing I often say about starting a company is it's pretty much the hardest thing a person can do. You don't even know if one in a million people has an easy time of it. I think you are completely right. Every single division is so difficult. I think the people I see that aren't successful are people that just think that it is going to be an easy pass to be a millionaire. It is not that. There are much easier paths to be a millionaire if you have some patience. If you want something that is going to let you make a mark on the world. And something that is going to respond and give you back what you put into it. That's what a start-up is. It is brutal. Make no mistake; however hard you think it is, it's going to be harder.
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Three things you need essentially. You can get along with one of them barely. If you have two things, it's good. If you have all three, that is great. One thing is you can be an expert. If you are an expert in the field, that's already a great start. You could have the money. If you have a bunch of money, that's already a great start as well. You can buy the expertise. Or you can have the right connections. What is another hugely important piece.
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Clearly having a business plan. And it does not have to be twenty-seven pages long but knowing where you are going to start and some goals or metrics you are going to hit. Even things like what you are going to pay yourself. Try to predict the next twelve months and check some of those things off as you go. If you miss step three or you are missing a third goal, make sure that it is not part of that critical foundation that will actually prevent you or set you up for failure in the near future. So really lay out your plan. I will ask people all the time do they have a business plan? They will say no, it's too cumbersome. I will say no, tell me where you are starting. what are you paying yourself? What is success for you? Is it revenue? Is it profit? What's that number? And How are you getting there? What are the goals you're going to hit? So keeping it simple and then trying to stay focused and hit on that track so you don't get super distracted and head in the wrong direction.
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What I mean by getting educated is, know who you can rely on to help you with jump-start the business. But also get better educated around the premise of your idea.
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Do your homework. Do your home and be realistic. It's not for everybody. Do your homework. Contact these places and talk to people and make sure you understand what's going on. Make sure you understand everything that's out there because there is a lot going on. You can not go into it blindly. You have to do your due diligence.
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I guess it depends on what type of small business or start-up they want to start. If they are not sure what they want to do, I personally recommend starting an online business. It is so much cheaper than a brick-and-mortar or retail type of store. Even if they are selling products where they think they might need a store, I still recommend starting online. The overhead is hardly anything. I run all my businesses for under a hundred. I think it is actually sixty a month now.
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You have to be confident enough to not be the smartest person in the room. I think there's this societal pressure to be the smartest person in the room. Some of that imposter syndrome like hey, if I've got a lot of smart people around me, I am not going to be able to lead them. Or it will get out that I am not actually as qualified as I think I am. At the end of the day, I really don't think I am the smartest person in the room most of the time. Definitely not the most qualified. But I am able to get in there and build relationships and especially learn from the expertise around me.
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Definitely document. Whether it's keeping a schedule for your project and documenting the tasks that you are completing. Or keeping a tracker of the life cycle of your contracts. Whatever it is, spend that little bit of extra time to document the work you are doing. The completion of these tasks. Because in the end, that is going to save you so much effort, time, and money. It's all going to be huge savings and saving the frustration I would say.
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Take the first step. If you don't take this step, you will just keep thinking shoulda, woulda, all those kinds of things. I think you have to take the first step but, at the same time after that, you have to be very flexible. You also have to be very persistent. Don't give up. And just keep meandering through because it's a rollercoaster ride. One day you'll feel high. The next day was low cause you were expecting customers to sign up, and they don't sign up. You were expecting investors to invest and, they don't invest, all things like that.
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It's called aloha leadership. Aloha, as most folks know, is a way of saying hello. What I learned is that it's a lot more loving. It's a loving way of saying hi. It is a welcoming feeling and vibe. They have always taught us that it's that kind of leadership that actually makes things happen. As an entrepreneur and leader in whatever industry and field. Any artist, creator, entrepreneur, you need that kind of leadership. Because if not, you are going to fail. It does not work any other way. If you don't care about the people that are working for you, they are going to leave. If you don't care about the people working with you, why would they work with you in the first place?
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There are two of them. Make sure you've got money, number one. Everybody knows that. But secondly, I think that an example that I can share from what I just shared with dropping the ball and all those opportunities is to remain humble.
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The biggest advice is to make sure you are improving yourself first. There is a really cool statistic out there that some of the most successful companies are started by forty-year-olds. People in that age range. Why is that? Probably because they have all this professional experience that they had where they know the opportunities. They know how to execute things. They have made mistakes and learned off of other people's dollars how they can go do it for themselves.
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The clearer and more specific plan you give when you start to notice the expectations slip, the more likely you are to actually act on it. Now you have a clear plan lighted steps forward to be sure that to say ok, I need to engage and, I feel scared and default to comfort and avoidance if I don't have something. If I light this staircase up and I have the exit ramp lined up for me now I am more likely to engage in the behavior I know I need to do for the benefit of me, my relationships, and my company.
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Outsource to experts whenever possible. Whatever you don't need to be involved in, outsource to experts because if you don't have time and money to do it once you for sure don't have time and money to do it twice.
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Don't believe your own lies. I think from a young age we start telling ourselves a lot of lies in our self-talk. Why do I think I can do that? Why am I the one that could be able to do these things? We have a lot of that negative self-talk and I think we just need to change that to why not?
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You have to decide to start and actually start because I have heard people that have had this plan. I've known people that have been on these albums. They have been working on the album and never finished them. So you have to decide to start. Then right along with that is to put some sort of date on finishing and actually launching.
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Just avoid judging the podcast harshly. Tell yourself I am not going to judge this podcast until my hundredth episode. Until I get there, I am going to just put out content. In that process, you are going to get better in all kinds of different ways you did not even think of. The thing that kills most podcasts is people just get too self-conscious with it. The delta of where they are and where they want to go just seems too high to climb. Just keep doing it. Nobody is listening to my podcast. Does not matter, record another one. I don't have the right cover art. Does not matter, record another one. Keep going. Get to that hundredth episode, and you are going to have the main expertise in all kinds of ways you did not even expect.
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It would just be not to wait until you have a ready product to start building your community and start marketing your product. If you have an idea and you know you are going to go after it, create a landing page, create a newsletter, create any social media page Twitter, Instagram, etc. Just start talking to people about it. Get them to start talking to you because their feedback is everything. You will figure out their pain points and opinions. Even before your product is ready, you can start implementing it. It will also help you to market your product better. You know the terminology they use. You know exactly what their pain points are. Once you have your product ready you automatically have an email list you can send a blast to. You can already start talking to your community and say hey my product is ready and hit the ground running instead of starting from zero. We started from zero, and that was terrible.
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The piece of advice that I would give is, start. You have no idea what beauty lies beyond that first step. A lot of us are afraid to try. We are afraid of failing. We are afraid of a lot of things that could go wrong, but what if it goes right?
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Definitely get everything in order right away. It kind of falls back on the worst business decision I made. Getting everything set up to where you have contracts that are in place. And you have a legal framework you can work off of to give you accountability. Then also give your clients accountability. The thing I wished I had done a little bit differently was I viewed my business in the very beginning as I needed to be a cheap as possible. And just kind of survive. Where I wish I had been I am going to invest all my resources into creating a great contract, getting invoicing set up to where it's reoccurring. Clients can save credit cards. Different processes that I did not do just because I did not want to spend the money that now I am having to spend the money and wish I had done it before.
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My greatest fear is running out of innovation. To me, innovation is what keeps us afloat. It keeps me going every day. Sometimes that worried me. As I grow older, will I get more out of touch with what's happening in social media new apps coming up? How much do I want to keep up with? Technology continues to advance. So as you grow, you wonder how much of this technology do you need or handle? So my fear is not being able to adapt because once I stop adapting, that's when I will stop growing. Then it will be time for me to hang it up.
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I want to always over-deliver and fear that I won't be able to do that. How I am handling it is I am actively looking for the right people to help me do that. I know I can't do it all myself and, my team can't do it all ourselves. So we are on the hunt for the right people.
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Put Your Goals in front of you and your fears behind you. There is so much that has to happen in a business. And it takes a long time. It's years or a marathon. You have to find a source of motivation and inspiration. Two of those sources are goals and fears. If you can be motivated by those simultaneously, I believe it's a powerful combination to keep doing whatever you need to be doing. I think it's the stereotype and clique that businesses fail because you give up or you quit. There's truth in that, but I think to make it easier on yourself as a founder especially, really get clear on why you are in it.
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I believe there are two reasons to do a start-up. One is you are passionate about something. You want to do a company and, you are willing to ram your idea down the throats of potential clients. That was UTD. The second reason is you see a niche and, you fill it. And that is, coach me strong. So I have had the opportunity to do both of these. You're passionate about something. Create a new product and try to market it. Be open to a niche. Create it, fill it, and then try to market it. The commonality of those two things, it does not matter which one you do if you are willing to go the long road for either one. The commonality is business start-ups are marketing projects.
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This Ranger Instructor looked down at me and goes are you committed? I looked at him, and I mean, my face is muddy. I have stuff in my eye that I am trying to get out. I am hacking up stuff and, I say what do you mean Sergeant? and he goes look a chicken is dedicated because he gives an egg. A pig is committed because he gives bacon. He goes do you understand the difference? And I said, yes I do. I have never forgotten that and, those are words I still to this day live by.
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I would say to some who have not yet started well, start, do it. The world needs you. They need your idea and vision. Whatever you have in your beautiful vision do it. If not now, when? We all could die tomorrow.
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Make sure you carve out time for yourself and your family. When you are running a start-up you can get so focused and so in the weeds of running that business and it can be mentally all-consuming. You can't lose track of what is truly important. Carving out that time to go for a run. Carving out that time for a date night. Carving out that time that is super intentional for your kids. That is going to be beneficial to your family but, also for your business. It will give you that time away to relax your brain so that you can come up with better ideas for the growth of your company.
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Raise capital but, raise capital in a way that you can build on it slowly. I started my entire company using square loans. I got my first one for eight hundred dollars. I worked and paid it off based on my credit card sales and, stuff like that afforded me another one for sixteen hundred dollars. Reallocated the money to what I needed at the moment and just kept building on it. I stayed away from raising big capital and raised what I needed at the moment or where I thought it was at and where my short-term goal was.
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Don't be afraid to aim high. My goal was when I started my rental business the whole point behind it was I Â didn't want to put my financial security in the hands of a company. That was the whole reason behind this journey was that I did not trust a company to pay my mortgage every month. So I wanted to build up a rental portfolio that I could live off of if things ever went sideways and I lost my job. That was how it started and I told myself when it started ok well maybe twenty-five years is enough time for me to do this. I hope that I can do this in twenty-five years. Then it was like five years later that I was financially independent. It does not take that long, set your goals high.
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That is what I will go over with people in the flirt coaching. If you know how to really read your partners, whether it's your business partner or life partner or potential life partner, you know how to read what lights them up and what doesn't. Then you can go with that and choose better partners.
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So I say go with something you are passionate about. Go with your strengths. Go with Something, that as I joked about earlier about looking around. Look at the things in front of you. Look at your actions and habits. What are those things that you are doing that you don't mind doing and that you could translate into a business? If you like talking to people all day, maybe being a counselor or opening up a counseling center is not a bad idea. Know your industry and who you are up against. Know your competition. If there are people or companies who are doing what you are doing and have a large market share, you are going to fight and contest a lot of that market share. So try to offer something that separates or divides you either at a lower cost or more in a blue ocean wave. So something different but still offers the same value proposition.
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Spend as much time on understanding the marketing and sales of your business early on. Marketing can generate demand, but you also have to be able to close the business that comes through the door. That can be investors, customers, or employees. Whatever it is, as a founder, you are selling your ideas, solutions, and vision. The reason why it is really important to get good at that it's just something that you have to do is you gotta get comfortable with being uncomfortable. Sales is usually uncomfortable for a lot of people.
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If you have a passion, and you're super passionate about it, and you believe in yourself, don't allow anyone to ever minimize or diminish what you are trying to accomplish and what your overall goal is. Even though that partnership may end your passion and your drive, you will find yourself along the way. It took me five years to get to the point of just filming a documentary. But there will be so many people along the way that will doubt you and probably laugh at you that will say what you're currently doing is making you money why aren't you happy? But, if you believe in yourself and believe in what you are doing, don't allow anyone to take that away from you. Always keep going and push through that.
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One, the biggest piece of advice is you are not alone. This is where I found myself after going there. So many entrepreneurs feel they carry this weight on them. I made myself alone, feeling I had to carry this weight so much that it made me contemplate my own life. Don't do that. You are surrounded by amazing individuals, especially in so many cities. When you find your tribe and, people reach out and connect. Don't feel like you have to do it alone because if you bring the right people in, it will really allow you to be; I always say we all rise up when we rise up together. Allow those people into your journey and know it's ok. You don't have to be the best at everything but understand your superpower. Truly when you are starting that company, ask the closest people to you.
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Maybe not have the dream crusher in your life. But someone that is going to be real with you and honest about your idea. Not in a negative way but a good sounding board. Looking for that person in your life. I have been incredibly blessed. Because I have a couple of founders that I reached out to on LinkedIn and said: hey, you are where I want to be in the auto space. Can we chat? And they have been great. It's interesting because they are very diametrically opposed founders of companies in their philosophies of growth. But to be honest with you and say that's not a good idea, or that's a great idea and hears why. There are holes that we all have even as multi-time founders, there are things you miss. You have someone else just throw back at you. That would be my advice.
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Depends on what problem you are solving. Before thinking about money or investors, what's the product you really want to solve? Make sure there is demand there. At the end of the day, we want to make sure the product is there and there's a market for it. Get that nailed down. Have everything researched and be prepared and, I think you will do well from there.
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One of the things I have done consistently in my business and the last twenty years is I have always had a mastermind group. And so, I have always had buddies. These are people who are either at the same level as me or maybe one or two notches ahead of me in business. We meet regularly to support each other and to learn and grow from each other. It's a bit like Devin, you've done this. What did you do when you were faced with this challenge? Oh well, Lindsay, I did blah blah blah. So You can always bounce off these other people. You can say I am thinking of doing this. What do you recommend? Oh, Lindsay, don't that's a stupid idea. Why don't you try this instead? Having those people around me has really helped me learn and grow consistently over twenty years.
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I'll advise that person to set really high standards for their team and keep it consistent. It's not the product that matters cause businesses and startups change their products and business model a lot and they experiment with that. But having a great team is key to success.
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Rely on other people. Figure out what you are putting into your brain that is going to create the actions you are going to break. Surround yourself with good counsel. With people that you trust. With people that will give you good information. People who are not looking to try and profit from you, but people who are really looking who will build you up and support you. You need a village to make a business. You need individuals and, you have to rely on other people to help you. It's not a weakness. People think that it is a weakness to ask for help and, what I say to them is this the weakness is you are doing it and doing it wrong when you could have asked somebody to help you. That's the weakness. The weakness in asking is not a problem. It's only when you think that you know everything that's the weakness.
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Just go out and do it with as minimum investment, both monetary and time, as possible. I think a lot of new entrepreneurs that I see are infatuated with starting the next Facebook. To do that, what they do is they build out this huge idea with all these different layers that they don't know anything about actually doing. But it all sounds great to them so, they pitch that to people. And people maybe like it, maybe don't but tell them it's cool. Then they go out and try to raise money and put together business presentations. I think being prepared can help and, I think raising money can help but, I am a huge advocate in just going out there and doing.
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Stick with it. I mean, it is a two to four to five-year process. First of all, I would say today is the day to start a business. Tomorrow is not as good as today. The reason being; I know everybody stuff on their plate but, the older you get, the more responsibilities you have. You have a wife. You have kids. You have all these new responsibilities that are going to make it harder and harder to start a business. Thankfully I started the last company when I did not have a wife and kids. It allowed me to focus all my time, potentially too much time on the business. So I would say start immediately. Then I would say stick with it.
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Take a deep breath, sit back, and think about your brand. Think about your product. Are you communicating the way you think you are communicating? You may be thinking you are doing everything a hundred percent. Or even if you are a start-up, and you are trying to figure things out. Take that same deep breath, think about your business. Think about your brand. Are you communicating or, have you created a message that resonates? If you are not sure or, even if you are sure. Or maybe it's a refreshing opportunity, sit back and say how do I get that brand to resonate? Am I doing the right job? If you think on those lines, then contact your great marketing person you work with whatever that might be the case and go through a branding exercise to recheck and reformulate.
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Try to get something out as quickly as possible, even if you don't focus on getting the right pricing right out of the race; that's fine. What you want with an idea is you want to understand. are people going to pay for it? And are you solving a real problem? It's very hard for people to project themselves with something that you say. Try to give them something tangible. I would say get it out as quickly as possible.
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Really research your market and craft because a lot of times I think we see someone that is successful and, we want that success. But we don't do our due diligence to research. Can I really do this? One of the things I really love to ask people is, would you do it if you had to do it for free? A lot of times people don't realize when you're an entrepreneur the money does not immediately come. Then it's feast or famine a lot of times. Sometimes you are really making money, and sometimes your not.
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Follow the structure of things because you do need the systems and processes and everything else. But don't be afraid to go in your own direction with things. I actually saw someone who posted on an entrepreneur board of I am just too nice; how do I learn to be that bolder, stronger, meaner type of boss or employee? The first thing and, no one ever responded when I commented this but, I said you don't have to. You can be super nice. When I have somebody who screws up, I might be upset, and I step back and let that happen. But then, the next day, I am going to make sure that that employee is ok because they are probably beating themselves up. You don't have to be that corporate mindset, I guess.
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It's finding a balance between confidence and humility. You need supreme confidence in your idea and your unique ability to make this idea a reality whether is a product or service or whatever. At the same time, you need humility to know not only what you don't know. I knew I am not good at marketing and sales. I need to also recognize there is other stuff I don't even know I don't know having the humility to bring that on but balancing when I bring in a third party to get advice balancing that with confidence that I have this great idea and I am moving it forward. So I think there is that apparent tension between confidence and humility, but, striking that balance seems really important to be able to move things forward and keeping in the direction that you envisioned.
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Don't be a control freak and give up control earlier. Not give up control as in I have seen people who go: oh, I am going to employ somebody who is an expert and just let them do it, no, that is not what I mean. I mean, any entrepreneur starting a business does everything. We stand at the front of the copier and make the copies. We make the coffee, etc. We tend to do all of that. The key to being successful is doing what you do best which generally is entrepreneurs generating business.
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What the research shows is that diversity of start-up teams is super important. Start-up teams with a single member with hyperactive-impulsive ADHD outperform. Start-up teams with two members with hyperactive-impulsive ADHD tend to suffer, and they don't perform so well. You probably have examples in your own experience where you see that dynamic play out. So if you are on a team like that, it's really important to realize that yes, even though I am the founder and CEO, you are very influential super important. If you are working with teammates who also have ADHD that you are going to need to address that and come to some sort of place where you can navigate it and manage it effectively. Because it could cause serious problems or it could prevent you from reaching all of your goals.
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Being open to wearing many hats and being creative and not thinking of it. It's a very different mindset. Working for a larger company, even coming from GM, honestly moved too slow for me. I loved what we were doing but, it probably would have taken five years to do what we're going to accomplish in one year. I think you have to be ready for that coming to a start-up. Even if you have come from a big company or even smaller companies, just be open to change. Chaos happens; it's normal but, be pragmatic too. You don't feel so much pain. It's not intentional pain being in a start-up but, I think you also have to be comfortable with things changing week by week. You have to overcome that concern.
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Make sure you are scratching an itch that you are actually interested in and not just chasing something. It's really competitive out there. It's hard enough to start a business, so try and find a place where you are going to provide some sort of unique value.
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Obsess over your customers in ways that you really understand their job to be done. And here I reference the Clayton Christensen model of; what are people actually looking to hire somebody or something for?
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Start do and go for it. People are very I would stay informationally driven. They are reading, and writing blogs, watching videos but, they never are action takers. I would rather people go for it and learn from their mistakes. At least you won't live with regret.
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So I really think the idea is to understand your financials more than anything. I think that is going to be the key. When you start talking to people who are going to want to back you, they are going to want to know that you know what you are talking about. It's great to know your idea. It's great that you have a passion for your idea but, if you don't understand the long-term effects of what you're doing. If you don't understand the business that you are in. If you don't understand those basic ideas, then no one is going to want to provide you with money cause they are not going to trust you with it.
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Number one is to pick up the phone and have a consultation with an attorney. Most attorneys, including my firm, probably yours too, will have an initial consultation of a certain duration at no cost to the client. To kinda walk them through and ask the right questions and see if a further consultation or services and warrant. A lot of people have the I can do it myself mentality and, that's good up to a point when you actually figure out you don't know what you don't know. I tell everybody if you are preparing your taxes that's not a time to do it yourself and tell your CPA later what you did. You should be consulting with a CPA in that early decision.
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Don't give up. No matter how hard it gets and how many lows you have, just get back up, ignore everyone else and keep going. Do not give up ever. No matter what, don't give up.
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For me and, I think for most people is understanding who you are, understanding your personality. Understanding what type of things you are going to fit well with. Some people just grind through it. It does not matter what it is they; are just going to outwork and fix it that way. And for me that is torture. I can't imagine just pushing. I don't enjoy that. I am much more of the work smarter, not harder mindset. So really understanding who you are and what fits you well.
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People have million-dollar ideas every day. If you don't have the experience, or networking, or the know-how to get it started and up off the ground or maybe even motivation. There are so many times that people have these million-dollar ideas that, I think, it's really valuable to write those down. Then maybe nine months later when your friend texts you and says: hey there are desks for sale or whatever it might be, you can get those off the ground and get running. I think there is a lot of value in not forgetting what some of your ideas are when you are motivated and inspired.
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Commit. Commit to what your goals are. Commit to what your visions are. Then find the right partners. Find your right co-founder. Find the right resources because it is very hard to build something alone compared to with a team. I think the chances of success and the timeline gets much shorter when you have a co-founder and a team that complements the skills that you have. That is the number one piece of advice I would give.
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Just listening really well. We have an internal rule that if you hear something three times from three different people, three different conversations should peak your interest cause now that not just someone's wants or desire. That might actually become an industry-wide need.
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My team and I recently discovered, as a few months ago, called Notion.so. If you are looking for a creative, quick way to store and capture your processes, look into that tool. It is basically a wiki that, unlike Dropbox or google drive. Yes, you can document all of these things. But what I find is you are using some of these platforms, even SharePoint or again google drive, Evernote, tools like that. They're great because it is stored in the cloud. Notion is also a cloud-based app but, it gives you the benefit of being able to see everything. And not have information hidden in folders, and you can quickly search for things.
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Be sure of yourself and reframe your thinking to where it's not trial and error but, it's trial and inevitable success. Once you have your focus on what you are doing and your goal for your business or start-up, that conviction will allow you to see whatever error or mistake you make along the road as a lesson to be learned towards that inevitable success. If I was speaking to someone I would let them know that everything is trial and inevitable success. There are no errors or mistakes, only lessons to be learned. Keep progressing, and don't expect perfection.
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Get out of your way. When I get out of my way and, I actually open myself up. I have a business coach we use now. I actually open myself up to allowing someone else to give me some advice and say; hey Sandra this is right. We really need to go down this route, hold back from this, do this. It really opens me up for great things to happen. That's really what has been happening for us now with Tidy Spaces. When I get out of the way, all these things start to happen. It's unbelievable.
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Do all of your research up front. You can't do all of your research up front. You are always learning new things every single day. But, do your homework. No idea is had in a vacuum. If you have an idea, make sure you look at the lay of the land. Look at all the competition that exists out there. Make a spreadsheet even. Get out your whiteboard and look at all the ways that your business is different from their businesses. Use that difference at the end to shine or design a marketing strategy around. Double down on those differences.
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Try to control the expenses and don't spend on things that are not beneficial and stand on the ground. Don't look at the unicorns and all this. Now yes this is the target but, stand on the ground. This was a mistake that I did and so much was spent was acting as a startup concept that you read about every day and spend a lot based on that but at the end of the day it comes by steps.
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Ask for help. It's something that took me a while because I have a lot of pride and think I can teach myself anything, which might be true but, it might take years, and that's not very smart. Every time I have asked for help, it's always led towards more progress. And faster than I would be able to do on my own. And most people want to help you succeed.
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And so I think on the lower side, on the block and tackle side, make sure you have your information in excel format or Quick Books so that you can manipulate your information and get it clean. Then on the other side, make sure you have someone to talk to. Whether it's someone like us or whether it's an investor or advisor to talk you through things like profitability and questions that you will need to answer to the taxman but also to future investors.
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My biggest fear has been producing an inferior product or a product that won't pass muster. What that has done is it has really shown and taught me that first of don't release something unless it's at least minimally viable. Don't release a crappy product. If you do release one, you are going to have to deal with it in the future. That is what I have learned over these last few months.
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This is a very hard lesson I learned. Be careful in how you spend your time. We always are going to get a very rewarding feeling from being busy. And it is going to be answering emails, taking phone calls, and doing marketing. But, if you do not actually evaluate the impact that all this busyness is having on your return on investment (ROI) and what the income is. How are you actually making progress? Are you growing your audience? If you are a podcaster, what your income or profit is. Whatever it might be. If that's not growing or changing, yet you're busy all the time, then you need to reevaluate and perhaps implement different strategies.
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I can't tell you the power of networking and reaching out to people and just asking for things directly and not beating around the bush. I think we really underestimate the power of being super direct with someone instead of just sending in your resume and hoping for the best. Find the side doors. That's not just for starting a business and getting your dream job. Find the side doors for everything. Do you want to start a podcast or write a book or anything like that? I guarantee you your network is going to have huge power in helping you get there. Networking and asking direct questions and just reaching out and asking questions to people you look up to that would be number one.
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Constantly believe in yourself and your product. If you feel like your product has value, you will have a lot of people who will dismiss it or say that's really cool, but that's as far as it goes. And you will have a lot of days where you are thinking, maybe this was a mistake and maybe I shouldn't be doing this. Then you will have a lot of times where your doubtful but, I would say just continue to keep the faith. Keep holding on to your belief that you have come up with something valuable. Keep pushing forward and having faith it will work out.
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The biggest piece of advice is just get started and don't get crippled in revision mode and, oh, I have got to have a business plan and, it's got to be perfect. Just right the business plan and get it out there. Get started working so that you can figure out all the answers to your questions. I guess the saying is, fail fast.
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Get your website up and figure out your sales process. I think that has been the hardest businesses to work with is when they don't have a clear sales process. We can get you all the web traffic you need and want. We can set up ads and do everything organically that we know-how. But, if you don't have a way to close, then it's all for nothing. Figure out your sales process, figure out how you close people. Figure out what you actually need to do to increase revenue. Then most agency owners that are good at what they do will help you figure out those channels to amplify your sales process.
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Before you go into the fun stuff like, what is the design of my logo going to look like, really figure out what transformation you are going to take your potential clients through. They are here and, you want them to be here. Figure out what those places are and how you fill that gap. Without that, you are just going to be spinning your wheels you are going to be pivoting a lot as I did. Figure out and ask those questions. Where are my potential clients at? Where do they want to be? How can I help them get there?
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You have to invest in yourself. A lot of people say go and talk to everyone else but you have to know your weaknesses. And you definitely have to work on those. That's one of the things I have done. Still to this day, I have a book in front of me and, I write down listen before every meeting that starts right on top. Because when you are starting off a business, you think you know everything. One thing is to learn to listen. That's one of the things I have to learn for myself. Invest in yourself and find your weaknesses and then work on them. That will definitely go a long way in you being successful.
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You are the authority. You had touched on it a little bit just thirty seconds ago. You have to drive the ship. If you are a startup, a CEO, an owner, or a director, that's your job. You need to steer the ship But, the funny thing is the captain says go that way there's a helmsman crew actually steers said ship. There is an engine crew that's driving the engine and maintenance and mechanics who are keeping those things ticking. You have to see the big vision. You have to know what you know and know that you are an authority. But you also have to get very honest with yourself on what you don't know. And then what is it that it's ok not to know and, what is it that you need to get better at.
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My advice is going to be from the perspective of the entrepreneur who is bootstrapping their business. It is to crawl before you walk and walk before you run. I think it's really important to not grow too fast and keep a gradual pace. Growing a business is about figuring out how you can sustain the business. Every step of growth reduces the stability of the business. You have to grow into that larger business so that you are on top of it and can then get to the next level.
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Start earlier. Don't think about it more and more and wonder when you are going to do it. If you have the idea and passion to do it, don't wait. Start today. Start right now, make that first phone call, get your business licensed, get set up, name your company. Start moving. Don't waste time because what you will find is once you get into this, you never have enough time.
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So they think their last step is running the payroll, hire an employee, coming out on the front. We want to create the other last step which is let's take a look at your expenses. Maybe beyond having an expense on your profit loss, we can convert that into a tax credit. If we could use it for the payroll tax credit, that would be great, or else it counts as income tax. We do a lot of planning, phone calls, exchange information. I also want to say that we use technology. We do a lot of zoom and teleconferencing. We record a lot of our discussions and our interviews. Every single thing we do is to save time for the client.
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Make sure you are getting into the business for the right reasons. I would say: don't chase the dollar signs. Don't get involved in an opportunity solely because you believe you are going to make a fortune. If you really don't enjoy doing what you do, it's pretty easy to give up when you run into some roadblocks.
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Be really clear on what your goals are in this situation. I think we did it well, even some of the groups that I have worked with over the years. Being clear on what the goals are and what the responsibilities are amongst people really helps.
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Take every opportunity. Don't even hesitate about it just do it. Of course, you want to think about it. But, from what I have learned: when you hesitate when there is an opportunity in front of you, it really slows you down, especially with a startup. One of the pros of a startup is you can move at a certain pace. You can quickly change your model. And adapt faster than most businesses. If you see an opportunity, take it. Either joining a podcast or spreading your name out there.
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It's along that product-market fit. You've got to get out there and take advantage of every introduction that you can get. Talk to those potential customers or those potential people who are not customers. They may just be someone who knows something about the domain or has tried or seen it before. Get out there and take advantage of every introduction you can get and have those talks and learn from them.
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Surround yourself with people who are going to challenge what you are saying in a positive way. But also that you can learn from. Before I moved to Austin I did not have a wide network of people that I could leverage from a connection, network, or from an intelligence standpoint. Nor did I have people who would challenge my ideas. Not in a bad way just why do you think this? Why do you think this product is important? I think the last couple of years especially over Covid I have tried really hard to bring in a vast amount of people that I trust and have backgrounds that I can learn from and continually educate myself but also can give me feedback.
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The best way to get the highest evaluation for your business and sell your business for maximum value is proprietary. The fourth P is proprietary. This is the number one value driver. This can take you from a five multiple to an eight multiple to a ten multiple to a fifteen multiple. This is all proprietary. Why am I saying you should start with this? Because if you get this wrong, then you can practically be out of business.
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Start. Do it. Just do it. Figure out what your risk tolerances are, leave everything else behind. Give yourself a period of time. Do it. Just do it. Once you put it out there, people are going to rally. It's amazing.
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I call it a discovery task list. What we do is we take inventory of everything you do for a week. Then we figure out is this something that you can delete? What happens if we just don't do it? How much effect does it really have on the business as far as ROI vs people's perceived value? Then the second thing we ask is, can I delegate this? And the question that we must ask ourselves for each one of those is if I knew I was going to be hit with a mac truck tomorrow, what would I do today to transfer that knowledge so that my business would not fall apart? That is the most important question because you have asked the brain a different question. And it will give you a different answer. It will come up with creative ways of how you can actually delegate a task that you thought was not possible before.
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It might be boring but planning before you start is a big key to success and then obviously executing on your business plan. But first, you need to write it down.
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Do it. Do that thing you need to do. I mean, you have that idea go chase it down. Go learn what you need to learn to get it done and get it done.
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Start. I think people really struggle to get started. I will say that action is the most important thing. If you are thinking about an idea and you can't quite decide, you just gotta go. And you have to go fast. You are going to bump into walls and say, oh, ok, we are going this direction now and, that's all normal. Startups are not normal. I think that's something a lot of people struggle to understand. It's like these are these really weird experiments and, you just have to test and see what works and keep that feedback loop tight and just keep going.
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Talk to maybe another business owner. Just because you talk to someone does not mean you have to hire them. If someone wanted to contact me and has questions, that would be fine. I would not mind talking to them. Just ask, ask around, ask people you know. Or, if you have emails for a virtual assistant, shoot them an email and ask them questions. If they are good enough and, classy enough they will answer any questions that person has, without expecting them to automatically become a client.
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Try to surround yourself with people who believe in you. So in that same example that I mentioned, that was my biggest mistake and biggest learning. My wife was absolutely amazing. She was a rock and, she was picking me up off the ground when I was in the corner crying and rocking back and forth when the project was going south. She was like, no, you've got to keep going this is just a part of the journey. We are going to get through it, and it will be fine. So she really picked me up. You have to surround yourself with people that are going to tell you that because there are going to be days where it just sucks, and it's not a good day. There are going to be days where this is the greatest job in the world, and you love it. Some days it's just nothing is going my way. You've got to be able to get through those. I think a huge reason why I was able to get through those days was my wife and the encouragement people were surrounding me with.
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Always make sure that you are establishing your relationships. Always say to people what can I do for you? And Never burn a bridge even if people are wrong. Wrong things have happened to me, and it does not matter.
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Get a coach and or mentor. You probably think it is self-serving saying getting a coach. It may be a little self-serving, but it's also speaking from experience because I have benefited tremendously through the years from having tremendous coaches but, also have had some mentors. If you not in a place where you can hire a coach look up people in your industry, look up people who are doing what you are doing, look at people who are successful at what you are trying to do, and just contact them.
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I would say be fearless it really does take that. I have talked to so many people. I was coaching football for my son, just the little league football. One of my assistant coaches, a great guy still good friends to this day, came up to me and says I have an idea that I know will make me a millionaire. I was like, well, awesome, what is it? And he said I am not going to tell you you will go do it. And I said well, one I won't but two fine don't tell me I don't care what it is. Why don't you go do it? He literally said because I am afraid I will fail. I think that has stopped more people from ever becoming successful than any other thing.
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First, I would try and make sure they are ready to do it in the first place. I don't necessarily take my own council right here but, particularly for a younger entrepreneur, you got to put in your time. I mentioned earlier that I considered my 10-year at Deloitte an apprenticeship. That's really what it was. I didn't roll out of bed at 25 and start Kalypso. I put in a decade learning the industry, developing my skills, developing a management model, and leadership philosophy. That was the foundation of that firm.
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In my experience, this is why the bottleneck of so many businesses is the CEO. It's because they are not making decisions, opportunities are being lost, and everything else is falling behind. They within themselves are not showing up as the CEO in their business. And that is why I am such a firm believer that your business growth can't outgrow your inner growth. If you really want to not just perform at that level but breakthrough to the next you really have to evolve within yourself. You need that level of thinking and the ability to control the stress and pressure and all of the mindset shifts in order to actually sustain your success.
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Surround yourself with really good advisers. I know that's said really well but let's talk more about how to pick advisers. I would say that as a founder to find your philosophy for how you are going to grow your company. How you are going to treat the people you are going to support. Find the advisers who are experienced in the area where you have a gap. Go to accelerated programs. Go to your local co-working space. Go Google spaces if you don't have any in your community and search out people that have had success in the areas that you would like to have success in that you are not very good at. Then offer to compensate them well for being in the company. In that relationship over a couple of conversations, you will figure out if they are just trying to get equity or get compensation. Or if they are really in it for a mutually invested interest and the vision you are trying to drive.
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Just do the research. You know so many people who have an idea get excited, and they automatically turn to marketing. They start spending money on marketing. I would strongly suggest you do the research. Identify if your product or service has competition or is it innovative? Look and see what other people are doing. What niche do you fit into? Where do your customers hang out at? Those are just some small things to really start thinking of before you just automatically start jumping into trying to make money.
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Listen. Find a problem. We were in a hospital once when I broke my back. It was a family and doctor-owned hospital. It was family so, my wife and daughter were there and, my daughter was ten at the time. She said hey I would like a milkshake. They said we don't have any milkshakes. So They called down, and they had a chef at this kitchen. So they made her a milkshake. The next day they had milkshakes on the menu for the kids of the family. They fixed that little problem. I think that it's fixing problems and looking for solutions, and then it is just listening to the people around you. You put them in your sphere for a reason. You hire your attorney. You get your bookkeeper. You have to listen to the people around you. Then you ultimately have to make the right decision.
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I am going to steal something that I have never forgotten that I learned 35-40 years ago. People today may not be familiar with it. It's called the entrepreneur credo. One major line in the entrepreneur credo, in fact, it may be the first thing is, never fall in love with your company it is a thing, not a person.
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Never ever trust your family. You are alone in this game. Your family is going to be overcoming themselves when they promise anything. Just because they over emotional, they are not rational. If you do that, then it's going to fire back. My one piece of advice is you are alone in this game. Don't count on anyone. No one is there to help you. If you plan that way, then you will go a long way.
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Try it out and experience it for yourself. Really put yourself in the shoes of the next generation of shoppers. I feel that it typically costs a shopper an hour of their day to visit any one store. Even if they decide to go to that store, they have to decide whether or not it's worth the trip.
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Start small and measure everything. There are so many people when they are starting a business that gets sort of turned one way or another of how they should be spending their money. If you can't measure it, you don't know what's working.
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Look at it as a continuing journey. There is not a start into it. It's something that you learn every day. You get better at it every day. I equate it to sports because I played sports. In business, athletically, you don't have to lose. Your mind can just get sharper and sharper. I know now based on my experience in having made decisions. The decisions I could have made better earlier in my career. There is no way for me to improve on myself if I am not a continuous learner throughout the process. My number one advice would just be to be open to learning for the rest of your life or as long as you want to be an entrepreneur, not getting stuck in your own mind.
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The importance of one, getting a team that will support you since this journey will take a lot longer than you think to reach any milestone you have in mind. Any projection you have initially, you might think in terms of days or weeks, or months. It will probably be years and, it will be longer than even your wildest dreams are. Have a team that will stay with you through the end. Those people are the ones that will make the journey worth it. They are also the ones that will keep you there and make you not doubt yourself if things don't go according to plan. I guess another piece of advice is to try to do as much research as possible. Understanding key parts of the process. Don't let your excitement impede you from getting the knowledge for you to do well. Know that you won't have enough no matter how much you try you are still going to make mistakes.
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Scratch an itch. Build something that you are intimately familiar with that has been a real problem for you in real life. The closer you are to the problem, the easier it is going to be to solve it in a way that other people will understand. The people are experiencing the same problem. I will give you two. Be persistent.
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I share too much. I tell too much. Maybe it makes people nervous. Maybe they don't need to know that much to do their job. I always thought I wanted to know a lot therefore, I want to share a lot. Learning how to not do that and I am still not very good at it but, I am better than I was. I don't want to fail my people. I don't ever want to be not always thinking of my team first. I know clients are going to come and go. But, keeping a really good solid team and being considerate of them and genuine for them. I am always double-checking just to make sure that the decisions I am making are ones that in my heart of hearts I know I am doing what I need to do.
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Find what people are buying. If their product is fitting that, great. If it's not fitting that, then tweak it until you get there. That's the easiest way to succeed. Find out what people are buying and figure out how to position yourself with someone that sells that. Don't go try and create a new market. Just find what people are buying right now.
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Sometimes you have to focus on what you don't need instead of what they are asking you or making you perceive that you need.
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Jump into it. Just jump out of the plane and figure out how to rebuild your parachute on the way down. That's really the only advice I can give.
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I think as an entrepreneur, one of the real blessings or curses you have is that you have these hunches and ideas that pop into your mind. That is just entrepreneurship. It might not be a business it could be a song your playing around with if you are a songwriter or anything else. Try to tinker with that on the side for a long time before that emerges as its own thing. Otherwise, there might be too much at stake, and the weight of the business and the need to support yourself and your family for example which cause it to collapse. You will go crazy and run yourself ragged trying to do fundraising. So I think if at all possible side Hustle is the way to go. There seems to be a natural incubation period for business that is not a month or two but is more like a year or two.
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Figure out what makes you different. I think the biggest thing that I have seen so far because of all the things I am working on. I am a small-town guy, I don't have a huge network, I am not the smartest guy in the world by far, and even for the things I am working on, they are very small right now. The zap idea I have been working on is just wireframes and a decent pitch deck. My YouTube channel even still only has about 200 subscribers. The company I am working on is only doing about four or five figures in terms of revenue so it's not major. Putting yourself in the right places, taking chances, and being different more than anything will get people to notice you.
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Choose an SMB renderer that will do a holistic view. You can say that I just want to start with email or ads or web analytics. That's fine but choose a renderer that will have all of those so you can expand in the future. As my business grows, can this support me? Can this support use cases as my business grows? I chose one renderer that just does analytics. Now I have to choose another one that does email. You don't want to be in that situation. Try to see who will help you grow. As you grow, can they meet your needs? That's super important.
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What most entrepreneurs who are launching do is they take easy to use and they build what they think is easy to use. Then they put it out into the market place and it does not get the result they want. So the second question that you ask is, what has to happen? How do you know that it is easy to use? What happens is the buyer gives you what I call their buyer blueprint. They are going to say I want it to be mobile. I use an IOS on android. I want to pay for it once, not every month. They will give you all those things. As an entrepreneur launching, what you do is build at that. Just build that and push that out and, it will give you a much higher chance of being successful at the get-go.
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First, I will tell them to get your marketing right. When I say marketing, that encompasses everything. If you get that right, I believe strongly that what makes a business successful or fails is the business model. Get your pricing right is extremely important. Because of what we do, we are working with more than sixty different industries. So we tend to see this a lot. Business entrepreneurs start to have ideas and, the next thing they want to do is go and start without sitting down and get your marketing right.
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Take walks. I do thought walks every single day. It feeds the soul but, it also feeds the mind. Sometimes if you try to think about the problem all the time, you are actually getting farther away from the solution. Whereas if you just take a walk you notice something in nature and it sparks the idea you have been looking for. That has really fed my soul. It's helped me get my steps in every day. That is probably the most productive thing I do every day are my thought walks.
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Streamline. Laser focus. It's amazing that advice is out there and it's so important. Try to figure out that one small thing that you can do better than anyone else and then strip that down even more and try to really nail that one thing. especially in software. Keep it really simple.
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Really understand whether you've got the passion to stick with it. Really understanding yourself and what you want out of it. Really make sure you have a good, pure intention. These things are very challenging and take a very long time. In general, they are marathon journeys. The ones that have the grit to stick with it, have a lot of creative ability to connect, and bring in the right people are successful but, most aren't. Most are not very successful when it comes to building and growing high-tech companies.
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Just go for it. Don't overanalyze everything too much. Put your feelers out and see what your audience is. See what kind of options you have. It's very easy to get caught up in the planning and, by the time you know it, it has been five years and, you still have not launched a company. That's my big advice is to just take it by the reins and see what you can do with it.
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When you are inventing, there is a concept and, I forget the name of the designer who came up with this concept, He an amazing guy from the nineteen fifties. The concept is called MAYA, which is most advanced yet acceptable. The struggle is that if you make something too advanced, you are going to have a difficult time getting people to adopt the product. So there needs to be effort put into making something, whether it's the interface or some aspect of it acceptable to the general public so they can understand it.
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There are going to be difficult times ahead when you start something. You're going to sometimes want to throw in the towel. Lots of financial hardships that I went through and a lot of discouragement from people around you. The only way you are going to be able to make it through is to really know your why and to recognize that if other people are out there discouraging you, it does not mean that they don't believe in you it just means they don't believe enough in themselves. If they don't believe in themselves, how can they possibly believe in you? So that's a key component.
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When we first started out we said you know what we know how to make this. We have made a few of them here are there. We will just get the money that we require to set up the factory to make it so we can go from the lab to commercialization. And then we will make it in mass production. But then once we started looking at things and speaking with potential investors and potential customers we realized that everyone wanted to see what we had made. They were like ok so you say you can make it now we want to see it.
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Reflect on it really carefully. If you don't love it. If you are not willing to put in ten years of your effort at forty to eighty hours a week, getting paid nothing in addition to earning your living income. If you are not willing to do that, you're probably not determined enough to make it. Some people win in a year but, the reality is most people, most millionaires, most self-made people are in their fifties before they develop the sort of self-discipline and determination.
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Keep a flexible mindset and don't be married to strategies. Don't be married to a specific belief and set deadlines and tripwires. Go forward and be open to reassessing your strategies at different points.
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Everybody thinks that the only thing you need to watch out for on email is to get out of the spam box. But, there are actually several steps to having an email gets delivered to the person that you are trying to reach before that system even decides to put it in the spam box or not. That process is called deliverability. Deliverability has a number of factors in it. Some of them can be related to your domain or whether you're on a blacklist, do you have the correct thing set up in your DNS settings for that. Those are all technical requirements.
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The first thing you should do is read the book "Start With Why" by Simon Sinek. I truly, believe that if you know your why things will be easier. You will be on a good path. Know why you are doing something because that is going to dictate how things move forward. That has helped me tremendously; knowing why I made it, knowing why I want to work with the community that I am working with sets everything down a great path for me. You will also learn why you don't want to do something. But for me, that is the most amazing book. "Start With Why" I would read that.
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You need to do your market research. You need to make sure that the market is healthy and that there is space in the market for your idea. And going back to the idea of validating, there is a great book. I do not remember who it is written by but, it is called "Nail It And Scale It". I think it was a book produced here in Utah. The book "Nail It And Scale It" talks about how doing short, easy market tests that allow you to validate or invalidate the demand for your idea/product in the market.
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Start a business in an area that you know. You have a network, and you are passionate about it. It does not matter what you see as a business opportunity, people are going to invest in you as the beginning of a business. The only way they are going to invest in you is if you're authentic and you know what you are doing. You can read about it all you want but, It comes from your heart.
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Don't worry about other people. I use to get bogged down with that at the beginning of my company. I would see other people running startups that were getting more attention and publicity. I would think they are not doing anything. I am here slaving away 22 hours a day and think no one even cares about me. They are out partying on the weekends and, they are barely doing anything and being published in the media. And they are realized that behind the scenes, it's all a façade. Now five years after that, look what it came to, my 8-9 years of no one paying attention to me is now paying off.
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Realize your strengths and weaknesses. Understand that the people around you really do have superhuman abilities compared to what you may have. You need other people and identify where people are strong, so you can synergize and make something bigger than what you are on your own together. That's a real thing. You can't do it all alone, so you need to find the right people to help bring something amazing.
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You, Devin, are a consumer. If you were going to hire you to do the job you do. What would you look for and, what would you want to know? And I think we forget that we are consumers. We look at it as business owners, marketers, and the person building the thing.
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One of the biggest mistakes I think we see is people thinking about intellectual property too late. They start to run up against those deadlines and lose out on some of those property rights. My biggest piece of advice would be to think about intellectual property early and often. Intellectual property is one of those things you can lose out on. And not just from the typical ways that we hear inventors and entrepreneurs complain that someone else is ripping them off. Sometimes they are their own worst enemy as far as making sure they are getting their intellectual property on time.
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First and foremost find a mentor. Find somebody who has what you want, is going where you want to go, is willing to mentor you on how to get there, and listens to what they have to say.
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I think it is always good for entrepreneurs to keep an eye out as to what the competitors are doing. Not a fear necessarily but, I think you need to be aware of other companies. Being a little bit paranoid about that is actually a good thing. That is one thing we always try to see if our product is differentiated enough and has enough defensibility in the market when we go talk to customers. I would say that is the most important area where we continue to stay focused.
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First, don't give up. It's going to get tough. Don't think it is going to be so easy. And then get advice from people you trust their sense of judgment. You need mentorship. Be open to change your idea. Sometimes your original concept can change along the way. So be willing to listen to professional advice and don't give up.
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Entrepreneurship is a journey. It never ends. It's not something that you can say I am going to be an entrepreneur today and, then tomorrow it's off. No, if you start entrepreneurship today, you are in it all of your life. It will never stop. When I am saying entrepreneurship is a journey I am also saying be patient. Don't believe all the things you see on social media. Most entrepreneurs are not that successful.
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Think in terms of what your audience wants to hear rather than what you want to say. We all get so hung up on these are all things I want to tell people about my company, my brilliance, and my services. And instead, turn it into what are they coming to this for. What is the value that they want? And make that the first thing you give them.
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Don't be shy. Do a lot of cold calling. The nice thing with cold calling is they don't see you on the other end. You can just smile and dial. Ask the silly questions. You can always hang up and dial the next person. So don't be afraid of cold calling. The next thing is to have an outlet. You have your 9-5, you have your family, your kids, your side hustle you're trying to do. So I say have an outlet. have a de-stressor. For me, it is snowboarding, so go snowboarding. Running, when you are doing the pirate run, have something like a stress ball with you. Do some meditation.
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I think you should start with your own personality and really understand yourself and your strengths and weaknesses. What are you drawn to and what do you avoid? In this game, when there is only a couple of people, and you don't have a lot of structured accountability you, can really go off the rails if you don't pay very close attention to the stuff you know you are going to avoid. It's like driving down a road, and you know there are going to be potholes. Why not plan to avoid them. Just see them ahead of time instead of bouncing your car through those.
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I'm a really big fan of finding customers before you start building anything and that is what we did as well. We got early customers who believed in what problem we wanted to solve. And build the platform with some early feedback from them. It really helped us validate the idea we were working on. There were times when investors would be like, no, that's not a great idea. I don't think there is a big market for it. But, because we had so many customers, we could really believe in what we were solving for. I really value having those customers with our life cycle and, I give the same advice to everyone who is building a platform, product, anything. There is nothing better than getting customers involved in your journey early on, even more than investors.
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You need to make sure that you are looking at sufficient cash flow to be able to do what you are doing. I think one of the biggest mistakes startups make is they don't recognize the amount of cash it will take to get a business off the ground. It usually takes twice as much as you think and twice as long. So it's really important to be mindful of that.
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I would say three things: One is to work hard. The second is to be persistent. And third is to do things differently from others. A lot of times, people want to do what everyone else is doing and, that is just going to put you in a normal category. If you do things differently from everyone else, that makes you different from everyone else. There is a better chance of breaking out and reaching your goal.
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Really figure out what KPI's you think make sense to track for whatever initiative you are working on. And don't let yourself get distracted or deviate from those. Actually iterate on improving those KPI's. If you decide click-through rate is what you want to improve, actually start measuring that. Layout a plan to achieve that. If you have to change the plan because it's not good or it's not working, that is one thing but, don't spend three minutes or three days working on click-through rate and then get bored and decide you want to focus on a number of impressions and then after that say no I actually want to work on ranking. Cause that is a recipe to get nothing done. And it happens a lot in digital marketing, unfortunately. Because these things do take so long, SEO in particular, you just have to have a certain degree of focus. I think that is going to be valuable to a lot of small business owners and start-ups.
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We tend to think that intellectual property, patents, trademarks, that kind of thing are higher on the list. But, we also are ready to acknowledge that sometimes maybe getting together a prototype might be a little more important than getting that patent if you have to choose between one or the other. A lot of times being able to make those decisions and then commit to it. We are here to help businesses to make those decisions. We are not going to try and milk you out of money, and get you to make a decision that you are going to regret later. We want your business to be successful. So we can help you try and navigate what's the best path, particularly in regards to intellectual property.
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Start with a brand strategy. I think a lot of people dive straight into trying to get their website up. Whenever somebody has an idea there are so many steps that tend to get skipped in the early stages. What I always like to tell people is to take these ideas that you have and put them into a strategy for how you want to be representing yourself and bringing it to your audience.
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Start small and start with a minimal viable product. It does not have to be perfect when you launch it. It does not have to cost a lot of money. Even if you have to do it manually to see if you can get traction, interest, and an audience, then you are on to something. I feel like there is so much talk today about these startups. And you have to raise all this money and hire this team and build out this product. I would just say start really small and think hyper-local to get it started. Then you can grow from there.
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I think managing your own expectations. We all want to manage our customer's expectations but, we forget about ourselves. When I get into a business, I know there are going to be a lot of hurdles. Â I know there is going to be an issue. When those issues do come, you have to remember, oh yeah, that's what I expected. Instead of getting frustrated and stressed out about it, you work through it. You know it has to happen. There are going to be frustrations. There are going to be things that don't go right. If you can expect to expect the unexpected, you can probably handle those a little better.
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This is my take from that. This is what Mark McCormack said who built IMG into an incredible company. He said: "when you are looking at your pnl, and you're looking at all your projections and everything, and you are feeling good, do this. Double your expenses and cut your revenue in half and tell me how you feel." The second is going back to being a smart guy. I kind of use proxies mentors, and one is Michael Dell. And Michael Dell says: " if you think your the smartest guy in the room, get new guys. If you still think your the smartest guy in the room, get a new room."
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I like to make it super clear to lay the tech foundation. Create one page of content for every single keyword you want to rank for. If you are in a big niche, you will want to rank for thousands of keywords. And then get other websites to link back to you. Those are the three things that compile SEO. And any SEO company that is good will be creating content and getting links for you.
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Don't be afraid to go first. Provide value first. Everything is a relationship there is no b to c or b to b. It's all human to human. If you can find a way so that you are providing value right out of the gate, your close rate, conversion rate, and the whole experience is going to be better throughout. The more that you invest upfront the more value you provide the more that you are going to extract out of that.
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You can have a great idea you, can even have the funding for it. But you need to leave room in the execution of that model to have that variance, the human condition variance. You can pull all the data, you can interpret all the data, you can look at all the comps, you can see all this stuff. I will tell you that you have to go with your gut. You have to do gut checks all the time. And you have to leave a little room for something to happen. I don't mean, be negative; it will not work that way. It's more like something amazing could happen in that little space that you leave for magic to happen.
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I would say before you jump in headfirst, ask yourself a question. Do you have the DNA of an entrepreneur? Yes or No? In most cases, the answer is no. To become a successful entrepreneur, it takes a tremendous amount of grit, resilience, and the ability to take the pain and get back up. It will be a very painful journey. You have to know that before you launch yourself. If you ask me right now, I can't prove it scientifically, but by experience, how many people that have what it takes. If you are one of those people, you are the five percent. You are one out of twenty.
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If you have a business idea, do the smallest possible next step towards it right away. If you think that you want to start a new social network or something for dog lovers, call up five of your friends that love dogs and ask them what could be better about the social networks they use. If you have an idea for say I want to get into lawyer referrals. Maybe I should call up lawyers and ask them how you can help them out. You really don't need money or some big thing to start a business. It's usually just one step at a time. If you have an idea just, do something. Do something right now about it.
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Pick your mentors they are very helpful. One thing that I was fascinated by when I moved to the US was that people are always available to help all you have to do is ask. Don't feel shy, don't feel that you are cool reaching out to a random person and they will ignore you. People talk and like to help, and pay it forward. One of the biggest things I learned from my mentors when I went back to them and said hey, thank you for helping me out. What can I do for you now that I sold my company? They told me three words that have stuck with me, Â pay it forward.
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I would recommend reading the book "Good To Great" by Jim Collins. I found that really helpful. I was lucky enough to have a Ph.D. advisor that had me read it in grad school which was great. I did not know I would be in a leadership position at the time so I think my thoughts were formed really pure before I had any sense of entitlement. So now that I am in it I can compare myself to my thoughts of myself back then. When there are pain points executives especially me endure the most of it. Take on the headwinds so that people working for you feel less of them.
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Don't overthink it. I think we can get in our heads and, we can overthink things. I like to think of myself as a perfectionist and, I have learned in one of the books that I have read it's bad to be looked at as a perfectionist. That's because we are constantly chasing after something that's not real. Perfect is not real. We are driving are selves crazy. People who are looked at to be perfectionists have a higher rate of anxiety, depression, and eating disorders because we are driving ourselves nuts. There is never really a perfect time. People say I have to learn more before I get started. No just go for it you will learn along the way. The only way you are going to learn is by doing it. You can do it. You are a big deal.
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Work from what you know. And that is going to give you your edge over everyone else. As Jack Trout says, "differentiate or die." You need to have your product be unique. What sets it apart? If you start with your knowledge, you're different. Everyone is unique, so build that into your product. What do you do that is unique? What is it that sets you apart? Do that for your product. Don't stop there; always put it in front of the customer for feedback. Get it in front of your customers, get feedback and see what they say. When you follow that rule you will have a product that is unique, differentiated, and that customers want.
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Keep going. Never ever ever give up. Always keep that fire, keep that passion awake. And always remember what is the purpose. What are you doing here? What is your potential impact? Why you are doing this for real. Keep that passion alive and, it's going to be worth it in the end. Keep going.
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You've got to get some experience first. There are so few and far between of the Mark Zuckerberg or the Bill Gates that drop out and create something amazing. Most people have gone and got whether it's experience working in a start-up or experience working in a big corporate entity, that experience is invaluable. It also starts to build up your network, which also translates into those soft skills that you need to run a business.
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So one of the first things we suggest for business owners that are starting to launch and grow is, at a minimum, start paying yourself a salary. That's equal to what you have to pay somebody else to do the job that you are doing. The first starter is to make sure the business is viable. If you had a CEO of a company, and what you need to pay them is 120,000 a year, and you can't pay yourself that, that becomes your first check that the business needs to grow and produce more cash flow.
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Be ready to keep trying and keep reformulating. Even though master Yoda says there is no try, only do, it's going to feel like a lot of trying for a while unless you are extremely lucky and/or skilled. If you are not coming at this already from having the full skill set and the full finances and the full social relations that are just going to guarantee your success no matter what. If you come from any background where you have to struggle to make things happen mainly due to financing, then be ready to just keep hanging in there and keep feeling your dream and just trusting that you have a good product.
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It's better to try than to talk about it. I have had so many ideas over the years that I never bothered to realize. They could have been great, ahead of their time. Who did not think of the iPhone, or this and that? Yes, everyone had similar things in their mind where they say: oh yeah, this could be great. The difference is always in the execution. So there has to be biased for action. Do it earlier. It does not have to be perfect but do it.
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Go work with either Score or the SBA- The small business administration and let them guide you. A great resource that will save you from making tons of mistakes that I had to make starting out thinking you know everything. Go ahead and get some people to help you know it. They are here to assist you. I would say to go and use your resources.
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It's just a sense of denial or not even a sense of denial. Being in denial about something very important to the business. And maybe as a founder or entrepreneur, you are not seeing clearly, So finding colleagues that can be brutally honest with you. Whether that's friends, family, business partners, or other partners, it's very important. I think you can kind of self realize every day, but that is a challenge. Having outside accountability is helpful. But constantly questioning yourself and being ok with that. Taking negative feedback or even critical feedback is really valuable and important.
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One we are boot-strapped so we are trying to get the most out of every dollar that we can get in the business. For us, we are always trying to look at different ways to market, sell and attract leads. We do the things that we can get the most out of every dollar that we can. We started initially with a digital marketing campaign but our messaging was incorrect. We had to change that. We had to pivot. We had to stop that and come back and move forward. Now we have started putting together some of these sales and marketing items with the right messaging to attract customers. We are getting a great response. We are getting a lot of leads, a lot of meetings, and a lot of feedback. More usage of the product helps us improve what we are doing. It's moving in the right direction.
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I would have to say cash. Make sure you really understand your runway. So you know where your money is spent. How long do you have? And aside from cash what is your personal runway? Because there is the money aspect and, there is your personal mental health being. Can I sustain these ups and downs for the next six months without a paycheck? Am I feeling depleted that I need to not be doing this or, I need to take a break? I think it's your personal runway and also your cash. Making sure you spend it wisely because cash is king. If you don't have enough money, you are going to be out and you are done.
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When you ask for money, you get advice. When you ask for advice, you get money. When I was doing my research interviews reaching out to centers of influence I was only asking for advice. I was letting people share with me what their feedback was. Those conversations have led me to other connections where if I was reaching out to somebody and said, hey, I am going to be doing this virtual reality event startup and I want you to either invest in me or give me some money. That channels how the person your talking to thinks about their role in it.
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The best piece of advice is around time. Time is a constant. You can't mess around with time. Leave it to Elon Musk and Bezos to mess with space. But still, no one can mess with time. With time it's either for you or against you. When you first start, it's really important that you don't want time to be against you. The thought is as a side hustle, nights and weekends you have a salary, you have your health insurance taken care of. But, as soon as you leave your job to focus on this hustle and the hustle is not to the point that it's paying your salary or paying for what you need then, time becomes against you. Be smart about when you make that decision to go full time with a project and how you want to approach it.
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Surround yourself with people who inspire and challenge you. We are braver when we are feeling inspired. We are more committed when we are feeling challenged. You're going to run into hard things and, you're going to struggle. But when you do, who do you want in your constellation? Who do you want in the group of people that you know? Do you want people around you who say, I knew this was going to happen, or do you want people who say, come on, get up, you can do this take a second to breathe if you need to, that's ok but, you've got this.
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Save your money first. That was one of the big things we did when we knew we were going to start our own company. We set up the initial business formation in 2009 and did not quit our day jobs and go full time until June of 2010. We did not want to quit our jobs, start working and realize well crud I either have to say yes to everything because I don't have any money. Or I have to go find another job right away because I don't have any money.
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Focus on MVP-minimum viable product. We have all heard the term before but, when it comes to hardware it's particularly important. It crosses lines into all elements of a business. Whether it's a service or software, you need to think about how to make your best feature. The real innovation, that golden nugget that you thought about. How do you make that shine and nothing else? We have a motto that's plastered all over our design offices brilliantly simple design. Modern, clean, sophisticated, edgy, but focusing on that one or maybe two core features for your first version.
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It's a marathon, not a sprint. We are in it for the long run. We are thinking about making that impact in the long run to make a big-scale impact. We both understand that if we want to make a big impact in the world it's not going to be overnight. Be ready to be in it for the long haul.
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Start with one thing and only one thing. Don't worry about whether it is working for you or not. The reason why I say that is, for it to even reap results, it will take you a good six months to know if it is your thing or not. It is easy to get carried by the noise that you see in the world today. Everyone is shouting at your ears to purchase their product. You have to spend a little time trying to figure out whether it is your thing or not.
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As a startup, you focus more on your product and strategy. This is very important because when doing a startup. If you spend too much time on your presentation of your idea you are just wasting your time. As a startup, your time is valuable. So focus on a small step at a time.
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You can lose your biggest account. You can have a new competitor come into town and start to take a bunch of stuff away from you. It's constant uncertainty when you own your own business. And when you are working for someone else, and you have a steady paycheck. It is a vast difference. So if you think ok, I don't want to scare people away from it. It's not impossible to do. It's a mindset where you go ok another body blow, so what. I'm still standing. Just get up and get going again. So if you can't deal with that, then you will have a tough time in business for your self.
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Think about media. As Entrepreneurs, you think about advertising. 80%-90% of entrepreneurs do not even think about it and they are not familiar with a ton of opportunities that are even free with a little investment of time. Don't just put out press releases but look at some of those resources we talked about earlier to see where media is looking for sources where you might be a source. Don't be afraid. A lot of that is a mindset too. You are an expert as well. You would not be doing what you are doing if you were not an expert. Don't be afraid to put yourself out there.
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The number one slide that every investor spends time on is the team slide. Who are the founders? Who are these people? The number two slide is the business model. How are you going to make money? After that, it goes down very significantly. All those slides about how this is going to be a giant market in five years. What I tell people to do in their presentation is to focus on the funding window, and what you are going to achieve. You should have a slide in there that shows in five years it's going to be a big market but that does not matter. The more important slide is what is your business model? What is your operational plan for the next twelve to eighteen months that is going to get you into the market?
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It's going to cost you more than you ever thought it was going to cost and, it's going to take more time than you ever thought it was going to take to get where you want to go. That being said, have fun. If you're not having fun starting a business, and that includes all of the angst that comes with it, you need to back up the truck a little bit. When it stopped being fun for me, that's when the juice starts going out of it and I needed to reinvent myself.
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It's really important to surround yourself with great people by being a great person yourself. By that, I mean something that has been super beneficial to me is I have put a lot of effort into being a life long learner and being hungry to learn, and being humble to learn. I think sometimes we love our ideas as entrepreneurs saying this is it. I think as I have had the mindset of this is an awesome idea and, I am excited about but, there are so many ways to go about this and collaborate and create. Every day I am trying to learn something new.
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There's a lot of noise in the world. There are many different coaches, books, and self-development things telling you what you should or shouldn't do. While some of that might be helpful, sometimes what it does is brings your mind into multiple different directions. There is so much conflicting information that you don't know what to trust or believe. Then you try one thing and it brings you down one path and then you are going back. So it is creating more space to trust your intuition. Know that your intuition, Science might call it quantum physics, and spirit will call it trusting your soul or what your soul message is but, it is that inner voice. Trust that to guide you along the way. You feel it in the lower part of your belly. It's that gut feeling. That is what's going to lead you to your greatest inventions.
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My advice is to just never give up. If you have researched to know that this is a good product that people would buy or even if it's not a consumer product. If it's a business you know that people are going to use or a service that people need, just don't give up. You never know. It might be the tenth time you get knocked down that you get back up again and turn that corner and take off. You can't let yourself stay down. You have to get back up and keep pushing forward with it.
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I think it is important to know this is not a one and done. Legal compliance is a continuing thing that will rise with your business. As you scale and grow there will be new issues that will come up. There will be new opportunities to kind of enter into strategic partnerships and those will bring there own separate issues around all of this and what kind of agreement you want to engage with a potential business partner to create a new offering or to pitch a joint offering. Those will all involve rights and obligations about intellectual property and liability. So those need to be negotiated properly.
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I hadn't gotten any attention from VCs. So these who invested in me, some of them as many as seven or eight times, I have to honor those folks, I have to give them a great deal. They have been with me since 2014. Hearing out the idea of what we wanted to go after as a market was easy. Building the tech was harder. We founded in 2014 so we are looking at year seven and just now looking at monetization and talking about exit plans. So I have to honor those folks. I have to make sure they are rewarded for sticking with me. And if there is a nine or ten-figure exit, they absolutely deserve to be apart of that ride along with us.
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If the market is telling you something, don't ignore it. You know the story about PayPal and eBay is there was an anomaly where people on eBay were starting to use PayPal. They saw this anomaly in their data and then pursued it. Then PayPal exploded because it became the go-to solution for buying stuff on eBay. But itinually it was just a blip in the data. like what was going on over here with eBay and why are people over there using PayPal. So I say look for those anomalies and look at why they are happening? Think is this something I could leverage? Is this something I could build upon? Then start small and iterate from there.
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Being able to adapt to changes is very important. For us, the pandemic changed people's habits from housing to communication to transportation. This means we had to move fast to serve the people in the housing market. We started in the Bay area and right now we realize people are moving to Austen and Idaho Falls. So we have to figure out how we can help those people. It is challenging for us because we are in the real-estate sector and it's a local business.
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In order to make a very successful company, in addition to what I said before with focusing on a bunch of different things marketing, development, and all of those things. You have to have a passion for it, and you have to put in the work for it. If you are just going to say I want to make a trillion dollars on the first day, it's not going to happen you need to put the work in. It's going to be a lot of hard work. But as long as you are passionate about it it will be worth it.
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So for me something that was really important was trying to really take it one step at a time. There were a couple of times where I put it down and did not touch for a month at a time. And I do think that why it took so long to finally publish it. But, once I kind of set deadlines for my self, and they were very manageable deadlines. At first I felt like maybe they were too small because they were small chucks to work on at a time. It was nice to be able to take a month to only go over so many pages or paragraphs at a time. That way if I did not necessarily want to devote as much time to it and spend maybe more time with friends and family I was able to do that and not feel like I was putting on the back burner.
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Don't have an entrepreneurial seizure. Don't just do it because you're tired of your job. Look at what it takes to run a business. Look at all the things you have to have in a row. If you need help, talk to Devin. He will help you. If you have a cool idea, talk to Devin. He will help protect you. There is one thing we have been so hypervigilant about that we have locked it down so much that it impeded our growth. So we have the trademark, now I want to look at a patent to help me protect the methodology more.
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You really need to love and be super passionate about whatever your going to do. Because it is going to take away time from other things that you love to do like your family, or another passion whether it is golf or whatever it may be. Your going to have to sacrifice and take away time from something that you love to go and build this. Because most likely you don't have the resources to not be working and build it as a full time job. So for me whether it was Vibio or content creation I have has to do it on nights and weekends, I have had to wake up early and stay up late. That takes away from things that I love to do. So to really be successful I think you need to understand that commitment that you are going to be in and be super passionate about it.
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First is start as soon as possible and don't waste your time. Define your priorities, each day study something new, and don't hesitate to ask. People are open when they ask. If you have a question ask someone and they will responded.
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Research first. Do your research, do not jump into something without a deep dive into something that you have interest in. A lot of times these interest come from things that happen to you, and that's great. Â Before you go diving into things I have a perfect example to share. I was competing with virtual private networks. So virtual private was a much better play because they were making money. They could sell where as I was free. I was stuck in the browser world which is free and I could not figure out how to make any money. So as I said do your research before you do anything.
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I have had those conversations with people who are in that same boat and they say what you are talking about sounds great, I know I need it but I don't have that money. What do you think I should do? And I say you know what keep doing what your doing. Keep working your job and keep trying to set aside a little bit of cash, keep working on your plan, and get yourself in a little bit better financial position to actually launch this business the right way. That is actually my best advice. I don't want to discourage anybody from starting a business, don't take me wrong there. I just want people to put themselves in the position to be successful as they possibly can and that requires a little bit of capital.
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Be confident in yourself and be positive. You never know what will happen in the future. You will definitely have your ups and downs and you will never know where you will find your treasure. Have a plan but always be flexible and always be positive. Never think that something went wrong. Even if something went wrong it is a lesson and you need to study something.
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Every entrepreneur needs to develop grit and practice gratitude. What I mean by that is with developing grit there is no easy business. If it was easy everybody would be doing it and nobody would be willing to pay you for it. You are doing something hard and so you are going to have days that are awful. You are going to have days where your partner is depressed and you are depressed and you don't feel like you can go forward. That's where I feel like you really have to take a step back and say ok I need to have the same Passion and excitement that I had on day one for this project right now in this moment. Because that is the only way we are going to get through this.
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Failing is another story but definitely on your own path to your successes whatever it is. It will be rocky and you will have ups and downs and it's hard as hell. So definitely I think perseverance is the number one thing I could advice anyone. I tell that to myself every time it is hard. It was hard when it was Corona like two months ago. So you just wake up and say oh it's this time of life again. You just have to wake up in the morning and plow through the day.
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If you have the chance to do research on an angel, which almost every single time you will. Whether raising money from a restaurateur, ok what type of restaurants do they like? what type of food do they like? Are there talk with them at conferences? Watch those talks, read their white papers, look at what they invested in on crunch space. See if you can learn anything about their family. Do their kids go to a private school or college or something like that? Do you have anything in common with any of them? If you can find that stuff and tailor your pitch to them and create and actually personal connection with them.
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I truly believe that success in creative business comes down to the mindset and the skill set of the leader. And honestly 80% mindset. And so what I have really been focused on is not just tactically what does a business look like, and how you do sales, and marketing, and finances. What's the mindset that helps somebody be good at those things so that they have the desire to go learn how to improve and grow their business. So that they can get better at their craft or skill set.
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You want to go after a key word that is a little bit more niche. There might not be as many people looking for it but it's hyper relevant and it's easy to rank for. You can be the big fish in the little pond an own whatever traffic there is going to those key words. For most small businesses that the direction you want to go.
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You never know when your time is up, So spend every moment of your time with something you love. Just find what you love and do it. I have found so many kids that don't like school and I tell them dude find something that you can do after school that you love, even if it is a sport. Because you just never know. I could go to school tomorrow driving and boom a car hits me and I am gone. You just never know.
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Grow their network and find a mentor or a coach who can really help guide you. There is no way I would be where I am today had I not worked super hard to find people who had the type of lifestyle, that had the type of businesses that I wanted. And I hunted them down and pursued them and I worked hard to build really great relationships with a handful of really successful entrepreneurs. And that has made all the difference for me in terms of opportunities that have opened up, having them give me advice, giving them space to call me on my blind spots and on areas that I need to work in.
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I can't be in a conversation without talking about LinkedIn to the point where anyone thinking they want to be an entrepreneur at some point or even they are now to leverage LinkedIn. It's the one platform for professional business purposes. Leverage the platform is my biggest thing. Sometimes I get clients who wait until they are at the point of frustration where they may have to close their business and it's like no you should have connected with me a long time ago. Making sure they are leveraging the platform and then guarding their time.
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Follow your heart, Follow your conviction because you are the person who knows why you started the business in the first place. It's always good to pivot and take in feedback and change. I am not asking you to be ridged but, I think if there is one thing you can be ridged about it is telling people hey I want to follow my conviction, I want to follow my heart so that if I lead a life and fail I can always get up and change course and be satisfied. But, I never want to live with that regret that I did not start in the first place. I think that is the number one reason when people are on their death bed saying why did I listen to people more and why did I not listen to myself. I would say just listen to you. You have a short life, just 60 to 70 years of quality life. Go pursue your dream. That's the best thing you can do for yourself and for the community because you are creating something that will impact people.
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Sustainability is no longer as nice to deal with. It's a transforming industry. People are making their buying decisions based on those practices and it leads to a competitive advantage.
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It does not matter how much you know, but how much you are willing to learn. And I think growth mindset along the way. I have seen even among my business partners, It's really understanding that you are not going to have all the right answers but if you are willing to fight for it then that's what is going to make the whole difference. I just look back on where I was when I first started this. I did not know anything about business, nothing about strategy, and nothing about building products. Just even being able to dive into it and learn that, I know that that was more important at least to me then just trying to make it work in the long run. I think knowing that goal in mind is huge for any entrepreneur going in.
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My big thing in terms of advice is to just Start the business. Its not going to turn out the way you want it to, almost certainly. Whether that means you need to make a small pivot or the business was not meant to be there is something that is not going to work out the way that you are expecting it to. So I think the important part is to just start and you will learn as you go, adapt as you go, and pivot as you go. I think that is really the most effective way to learn.
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I'm a huge fan of side projects and side hustles so to speak. Before you decide to change your life, quit your job, or take money out of your 401 K, try to get one customer. Try to just do one thing. Try to validate the idea in a number of different ways.
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There isn't necessarily a right way to do it. I would say that if you are trying to figure out what to do as a start up and where to start the most important thing to do is start. If you can get 80% of the way there then often times that remaining 20%, lets say that remaining 20% is the gap between where your at and a perfect answer, a perfect product, a perfect sales pitch. Often times that 20% is more of a nice to have then the 80% of actually having something there.
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It's about persistence. I actually think it was Ryan Smith with Qualtrics he said the same thing about being all in. So if you are doing this be all in. Also be persistent in what you are doing. If you do run into some road blocks, and they are legitimate road blocks, evaluate that. Maybe you are not on the right course and maybe you need to make some adjustments. However that happens just keep at it. If it is something that is legitimately a great thing that will help whatever market you are in then you will see results but that persistence has to be there.
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Identifying where your largest community is. I always want my clients to get the biggest bang for their buck when they are looking at their content. So finding where the majority of your people are and targeting the top three to five questions, interactions, or response that you see most often is a really great place to start when you are looking to create content. Chances are you are already engaging with those people and working to answer that question anyway. So building the content is an opportunity for you to polish and fine toon that response and make it available to people easier, which will eventually save you time on the other side.
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If you feel like your business is stagnant, or not moving like you would want it to then focus on talking to new people. If you set aside an entire afternoon and just talk to new people then you will fill up your next weeks schedule. It does not have to be people in your industry. If you sell shoes talk to the guy that sells carpets and see how he dose it. Talking to new people I think has been one of the biggest drivers for our business. We are always looking for new people to connect with via linked-in, Instagram, and Friends and family. New people that have not heard about your value propositions yet, I would take time to talk with those people if you feel like things are not moving like you want them to.
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Be Stubborn. I never ever quit. Â When it looks like this is a terrible idea or you hear no for the thousandth time you just have to preserver and keep going an pushing because it only takes the one time. You can quote Edison, Colonel Sanders, and other people but it really only takes the one time for it to blow up. If you stop then you will never find out that one time.
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Priorities change, life is a journey. Find the right framework to help to ask the right questions. I think that is key for any entrepreneur.
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Find people that you really trust and partner with them. It's crazy what you can do with other people compared to what you can do alone. It does not matter how smart you are, or think you are. I was so reluctant in the beginning to get on board with an investor and to partner but taking his money and also having him as a permanent consultant to the company and getting his whole life's worth of expertise has just been invaluable.
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Learn how to sell. I think a lot of people who want to start businesses focus on a lot of different things but, they don't actually go out and get customers. I think Mark Cuban said that "sales solves all problems" or something like that. I think that is something that is super underrated. People are a little bit thinking we are in the tech world so we are all on the computer, not really talking to people, we are not going to go out and make a sale. That's the life line of the business. If there is no sales, there's is no revenue, there's no business
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Meet with 2 new people, 3 new people, 4 new people a week. As many people as you possibly can. I have found that people absolutely love to  support business owners. It's still one of the reasons I think America is such an amazing and great country. Entrepreneurship is such a foundation for what this whole country is built on. To me I have seen so many times someone who just wanted to support me as a young entrepreneur trying to build something. I would encourage anyone who wants to start a business or even just take their career to the next level. Meet new people constantly.
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Focus on your customer. A lot of start up business owners my self included like to think about your product and/or service. That is probably the part of your business that you are most passionate about. In my view, the way that you actually make a business succeed is start with your customer. Who are you going to sell to? What are you going to sell? Why would they care? If you can get those first few customers and actually make a sale then you are on your way. Try and resist focusing on your product and service in advance of having any customers.
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Show up everyday ready to work. Work hard because you can only be responsible for the effort. The result will take of its self. It's not a sprint, it's a marathon.
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I think that having someone that you trust and best friend in a business partner. Someone that compliments you in everything you are maybe not as good at is definitely the biggest assets you can have. If at all possible, having a partner by your side that shares the same values, complimentary skill set, and understands that the journey of starting a business, especially in a different country, is something that requires dedication and the absolute will to succeed.
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Definitely those profile pictures. You don't want to have one with you in a group where someone is going to look at it and go ok which one is it. You don't want to have one from your high school/all-star years were you are now 35 and 40 and you don't look the same. You definitely want to make sure that it is you. Also your headline. It's that quick snap this is who I am in a nut shell. It does not have to be so robotic though. I see a lot of them that are like, I have my masters degree in this, its all of these credentials. Don't worry about that they will get your credentials later. Tell them what you do with those credentials.
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The first thing you need to do is commit. A lot of people try to figure out things and put the details in place and who is going to do what, where they are going to get the money for this. None of that will happen unless you commit first. The biggest lesson that I learned in my career and starting a business is commitment. That decision has to be made that you are all in. Then everything falls into place after that.
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If your just starting out in business there is nothing more valuable, especially in todays market, then to be able to grow your network and be able to find the right people in your network. I think the best piece of advice I have for you is whichever direction you want to be able to go in to, whatever niche you want to go into study that niche. But, give yourself a deadline. Give yourself maybe a couple of weeks, a month max to really get your knowledge up to par were you understand the language, you could hold your own in a conversation. The reason I say a deadline is because you want to get your knowledge up but you also want to be able to take action.
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You need to be really really introspective. I know a lot of CEO's that were really happy as the number two in their previous company. As the COO, or CFO or whatever and they are miserable as CEO's. I have hired a number of folks who will tell you they want to be in start ups, who desperately want this to be the right path for them and they should be working at Bank of America. There is a very different support structure that comes with a big company and if your mind set is how to I extract the greatest value for me from this company you are going to have a hard time with a start up.
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We had a lot of people on our rookie roaster and I was leader in charge of the rookie class because I was determined, I believed in myself, and I made it happen. Even in business when I discounted myself sometimes saying oh your just an athlete, oh you don't know much about business, This and that. Just believe in yourself and make things happen. It's literally the truth. If you can tell yourself that you really believe that, not just tell yourself that but really believe it, I think anything is possible so you can make it happen.
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The most important thing is to keep learning and be an infinite learner. No one is born an infinite learner or made one over night but you need to practice that. You need to constantly grow yourself as a founder, CEO, or as team member, you constantly need to grow. Growth is the only solution. That would be my advice. Keep learning no matter what. You need to enjoy learning and it will give you are really good results.
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Value pricing mean that, where our focus as a business is how can we create more value for our clients? How can we change their lives? How can we make as big difference as possible? Knowing that the more of a difference we make, we can also charge a higher price. We create a win win. We both win from that. The customer gets a better result/solution and we get a better price and make more money. So we need to shift away from this cost plus mentality towards value pricing.
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My business partner Jill, she owns several companies and has a parent company that runs them all. Since she owns a portion this company, I now have access to her CFO and all the accounting and book keeping that she does. That is part of her investment. She has a cash investment as well as a sweat equity investment in the form of development resources as well as some financial resources. Financing and accounting resource. She did some cash investment as well as sweat equity, so I was able to off load the thing that I will put if off till I am dead cause I hate it. I think my advice is just make sure you know what you like to do and what your good at and find people to come up and help you with what you are not good at.
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My piece of advice would be to trust yourself. You are going to make mistakes. I am sure there is not an entrepreneur out there, there is not a business owner out there who said oh yah this is a very smooth process and I came up with this idea, I built it and everything worked perfectly just like I thought it would. Â Everybody goes through these growing pains, struggles and self doubt. Every entrepreneur has these stories of yah we are struggling, things are hard, a lot of night working, trying to make this work. If you don't believe in yourself, if you don't believe in your product then you will never go anywhere.
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I would lean into partnerships. One of my partners is really good at board of directors, getting all the structure set up, a phantom stock and all of that advance stuff that I don't fully understand. I do know that something I have learned is that partnerships are great. If you can bring people in, even if it's for a small  percentage of your company or even if it is conditionally based I love that idea. It gives people skin of the game and they want to make it work.
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Despite everything I went through go after your dreams. Go after what it is your heart tells you that you want to do. For me it's worse to live in the what would have been and regret decisions I didn't make or things I didn't go for versus going and learning. Your going to learn. If you accept that failing is also part of succeeding then that is all part of the big lesson. If I Â were to sit back and wonder what would have happened if I had actually done that non profit thing, Put a little bit more effort into that. I Can't live with that kind of regret.
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Do your research and take the time to understand the different segments within your market so that you don't have pointless conversations. Your not talking to the wrong people. Sometimes you have to talk to the wrong people to know that you're building the right thing. You want to keep those wrong conversations to as few as possible.
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So this led me to create Techspeak for entrepreneurs which is a program where I teach a ten step process that I personally use to mange developers, help entrepreneurs with communication to be able to understand all the tech speak and all the jargon around how to build a start up. Then learn the entire process so they can gain their confidence back and be able to mange and lead with confidence and get the team aligned with what needs to be done so that you can minimize mistakes, spot the read flags sooner. It is unrealistic to never make mistakes but, the sooner you can catch them the less money you are spending and the faster you can course correct.
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There are so many places, so many pain point and struggles that no one is touching. I think what you want to look for is a pain point that seems obvious to you that should be solved that no one else really is interested in. If you find that then there's a lot of opportunity there for you. Too many people are trying to create either a copy cat product or something similar, Its not particularly unique. Its one of the reasons I wanted to get out of my original business. I just did not feel like I could differentiate enough from competition. Really finding a niche problem that you are super passionate about will give you a lot of business opportunities and will also bring a lot of people out of the rafters who are interested in that same thing and will support you on that journey.
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Care for your relationships. This is the most important thing. You can not achieve profit without the help of others. We can not achieve profit without the help of employees. They care for our company and pursue our mission.
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Do a little everyday. This is based on a concept I have for my show called the wheel of momentum. If you have ever seen a large engine they have what's called a fly wheel on them. It's to help keep the momentum of the engine going. You see them on big old machines, sometimes they have monstrous fly wheels, 20 feet in diameter. My advice to folks would be give a little push at minimum everyday. I don't take days off anymore. Sunday, Saturday, during the week, whatever it might be, I don't take a full day off anymore because if I do I lose that traction, I lose the momentum. By giving a little push, or a big push, or a huge push every single day on my business, on my product, on my show, on whatever it might be I maintain that and gets easier over time.
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I think that you have to realize if you're going to start a company it takes time and effort. It's the comment you made before that big hit that was all the ten years in the making. I mean you have to stick to it. You have to adapt to it and change to the things that come to you cause it's not going to be easy. Stick to it and realize it takes time.
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I'm big on next steps. Take a step. There is something out there that they need to go to the next level. I was thinking about it this morning while I was driving in my truck, it's dark out still. Some people are laying in bed, some people are being lazy, some people are not giving it one hundred percent. For me it's always everybody I see that wants to do what I do or wants to do what you do, they have to take their very first step and it has to continue every day. Taking a step every day towards what you want, it has to be what you want. Your why has to be so big that you get up at five am and you work until eleven o'clock at night because your hungry, you want it, you know why your doing it. You just have to take that step every day.
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The most important thing to figure out is a plan. Develop a plan and a strategy so you can really understand your product or service and where it fits in the market. You do some business modeling and some financial modeling, Figure out where your break even point is and then do some development in marketing strategy. Then in general really stick with it and be consistent.
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Establish boundaries around your time, And make sure you schedule your self-care time first. We can fill our calendars up with work. Not a problem, it's easily done. But when we try to squeeze in self-care its harder to find time. You put that on your calendar first and don't move it. Don't worry, the work is going to find the open slots, it won't be a problem. Schedule your self-care first and color code it too. This is what I do with my calendar, I use my favorite color to demonstrate self-care and things that are beneficial to me.
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For Entrepreneurs is you better build your team. You can not name a successful person, a world changer without identifying his or her team.
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Be very open-minded. Go in with a vision and have a direction. You have to know what you want. But the way to get there, there is a million plus one ways. So the more open-minded you are the better you adapt because the journey to were we are now has been through four or five of pivots and like very hard pivots from one industry to another. Through image analysis to text analysis, so just keep that in mind. As long as you have a vison as to where you want to go but, you keep an open mind then you will get there faster.
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The bar to what is a good first step to take a start up is too high. So people have to high of expectations. So they start thinking about ideas and talk themselves out of doing things. The bar to get started is really low you just have to take a step. So just go. In our case we want to refinance our loans, what does that mean? We need to talk to people who have an auto loan, so talk to them. The second you start hesitating saying yah I talked to them, I don't know what to offer because I don't have any lenders then you're stuck in this chicken leg problems that you have all the time in a start up. Then you talk yourself out of doing things. So you have to ignore that inner voice. Just do what feels like a mini step toward the right direction. And then another one and another one. Force yourself. The best way to get started is to get started.
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As much as you should take some advice from experts, I really believe that most of the answers that you're looking for you have within you. Some people can guide you with stuff like IP Law. Yes, you need to talk to Devin for that stuff. But there is other stuff like how are you going to market? How are you going to advertise? How are you going to do outreach? Everyone does it differently and you have to figure out how you do it for yourself. How do you want to work? How do you want to be paid to be you? You don't want to leave a cooperate  job only to do the exact same pattern at your business. Because you left that cooperate job to be free. So if you are doing the exact same way then what are you doing?
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Remain Curious. I think it gets so easy to pack a ton of one piece of advice for someone starting. Curiosity to your point with your story with the pitch year one year two it was your curiosity from year one that got you back to your year two. So just stay curious and follow almost like Scooby-Doo follow your nose as to where those next clues go even if the door is closed.
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Create content and just put it out there. Write about what you like, do podcasts, do videos, write books, put everything for free out there. Then if you show expertise and if what you say makes sense then the clients will come to you automatically.
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Focus on lessons learned. This is the biggest lesson I have learned. When you focus on learning, not only do you grow yourself you also grow your team and then that will eventually grow the business.
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Try solving problems that exist right now. And always make sure that someone is going to pay you to solve that problem, or else you don't have a business. Â
Right? So solving problems is what I do, naturally, but I can only do that if someone is gonna to pay me to do that. That's how I measure that I have a business idea that actually has legs or not.
Join us and Afifa Siddiqui from Canadian Payroll Services (www.canadianpayrollservices.com)
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"As a small business owner like me I rely on leads. There is a good mentality called the two, ten, forty mentality and principle where every day you want to be talking to two prospects. Every week you want to talk to ten and every month you want to talk to forty. I use that guideline of if I need to meet that quota what am I going to do? These are people who want my services and they want to talk to me. I want to make sure I can integrate and literally connected with them within a second."
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Know Your Business. Any kind of business that you want to do, you MUST know the business. You must know the customer. Otherwise, don't start the company, like, just looking at Twitter and saying "Oh, ok, that company has raised that much, I can do that!" Â Definitely know your market, know your technology, and know your business. That is definitely what I would advise to you.
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Don't care what anyone else thinks of you. Get clear on your thoughts around giving a concern about what anyone else thinks. That will create fear in your life and that will keep you small. Â
What anyone else thinks has nothing to do with you and everything to do with them. Â I mean, if there is someone in your life who has exactly the career path that you want, and you want to go to them for guidance or advice specifically around who to be as this type of a businessperson, that's one thing. Â
But to start up a business and go to your friends for thoughts on it and have them all tell you that it's not a good idea, or it stinks, or this, that or the other thing... Â
Unless they have what you want, or they have experience in this area, then don't even go to them. I would really just disregard it.
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My experience is, always, intellectual property protection. When you have a piece of intellectual property & a protection, that gives you a lot more leverage. Â
To negotiate a market share.
To negotiate cause of production.
To also carve out your own niche. Â
That gives you an opportunity to slow down your competition, or to fence out the knock-offs, the copycats, or infringers. Â
If there is an opportunity, if there is creativity, try to file legal protection.
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Get customers first. If you can find customers, you're going to find investment. Â So many times, I talk with start-up founders, and they're like, "If could only get the money, if I could get 10 million dollars, I could build this thing and we could go get our customers." Â In every pitch contest that you ever go to, if you ask any judge or anyone that does any judging, "Why did you pick the winner?" It's always "They had an existing customer base. They have already proven it was..." Â So if you can go out and take your concept, and get customers around it, people willing to pay money for the idea that you have, you are far more likely to attract investment. You are far more likely to be able to grow your idea. You are far more likely to make it successful.
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There are inevitably people who have trod the path that you are on beforehand. And, whereas it may feel like an exciting adventure that you are on alone, there are people who have made mistakes which you don't need to make because they can tell you what they are. Â Â There are people who have had successes that you won't understand until they share them with you. So the role of advisors and mentors and board members, however they have come into your company, it doesn't really matter. What does matter is "take their advice"...
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"Done is better than perfect. I think a lot of business owners get in this perfectionist mode, and they hear an outside voice tell them, 'Well, you're not posting, what you're posting isn't good enough, ...' from their families, or their friends, or some guru they see. Â
"No. In the beginning days of your business, you've just got to get started. You just have to do something..."
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Find where you can bring value, something that you enjoy (because you're going to have to do a lot of things that you don't enjoy), find where you're strengths are, and something that's monetizable. Â Get all them together, and find what's in the middle. There'll be something in there for you that you can do, that will bring value to the world, will get you paid, that'll be something you'll enjoy, and something that you are good at. In that nexus point, that's what you want to do.
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As a start-up, your weapon is speed. You are not corporate, so you don't have the bureaucracy, you don't have to have board meetings, you don't have to take 9 months to make a decision.
But corporations are bigger, and they have more money and more resources. So the only thing you are competing on is speed. So move really, really fast.
If you have an MVP, if you have an idea, just put if out there. Even if it's just on a landing page, get some feedback, get some free signups, do whatever it takes to keep moving.
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Be patient in the growth process of what you intend to build. Rome wasn't built in a day, but it WAS built. So lay the groundwork of the company. Create slow but steady systems and processes within your company that you can apply every day.
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Don't do it alone. Find a coach, find a mentor. I'm not talking about your brother or your mum or your dad who has a business. Find someone who has been successful in that type of business.
For example for yourself, in law practicing. So, if I was to sell in a business in law, I would come to you. I would come speak to you. You know? If I were to sell, you know, get my business to 7 figures, I would speak to you. You've been there. You've done that.
So it's about finding someone who can mentor you, who has done it. Not just someone who will be like, "Oh ya, you should do this!" Well, ok, well, have you succeeded yet?
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Passion is an entrepreneur's mistress. Don't fall SO in love with your idea that you don't test it.
Just because you think it'll work, [doesn't mean it will]. Make sure that the market wants it. I mean, beta test that like a son of a gun. That's what I find. People bring an idea to the marketplace, and the marketplace has no interest.
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Oftentimes, you give other people too much credit, and you don't give yourself enough.
I wish that the credit strategy that has been in my head for 10 years, that we just started a year ago, I would have started 5 years earlier. The amount of success that we are having now would have been incredible to be 5 years further.
We plan, and God laughs, and so here we are. No problem. Right? So, originally, I wish I had done that. I wish that I would have personally given myself more credit earlier.
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If you have a business partner who is an expert in something, and you're not, which was the case for us (like, we're both good at the opposite things), let that person be the expert.
Just because someone initially came up with the idea, or just becomes someone thinks they have a good marketing idea, doesn't mean that it IS a good marketing idea.
In our case, my co-founder is a brilliant designer and a brilliant marketer. If there was one thing that I could be like "Zach, just go back and shut up about it, just let him do his thing..."
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Don't believe all the crap rules they tell you. Most of it is made up. Ask for whatever you want.
My job title is "Head of Equitable Design" which was NOT the job that they were hiring for. I have a history of literally making up my own job. That's the thing about tech. It calls itself very innovative, but it's actually a very risk-averse industry.
And so one of the lessons that I've learned is that there is a lot of facades about what is possible, and what you are told is possible. But if you can punch through that, hopefully non-violently, and just say, "Here's what I want!" I have found more often than not that you'll bring folks to you that want to give you that thing & share that vision.
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Know the problem that you're trying to solve and fall in love with it. Don't flirt around it, don't think about the money, don't think about any of that stuff. Think about what you're trying to solve.
Be really, really, really good about that. Go very narrow. Think about it, go broad, but really narrow in on one thing that you can be really good at and solve. The moment that you lose your focus on that, you start to run into problems.
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There are people out there that really want to help. I have a couple of advisors, just people who have worked in business, that have been so helpful for me. I didn't have a mentor when I did my podcast, but I do have a mentor now. Even though I am accomplished in many areas of this "business" (quote-unquote).
So I think it's really important to have a mentor.
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I know I know a ton about that, but I am a first-time entrepreneur, and there is a lot that I don't know. So the biggest thing for me was "I need to figure out how to be vulnerable."
I had to be willing to ask people around me, to learn, to be open to learning every day. To understand that it's ok to say, "You know, I've never written code. How should I evaluate people who write code, for my company, so that I don't get screwed? How do I make good decisions on who I am choosing."
By being vulnerable and asking for help within the ecosystem, I think it made my path, and would make other paths for other entrepreneurs, so much easier. You HAVE to be vulnerable and ask for help.
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It comes down to "You don't know what you don't know."
I mean, you have to assume that everything is wrong, and you hope that everything will end up right in the end. From your perspective.
You've developed the business plan, you're hopefully working on what we'd consider a minimally viable product
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As Entrepreneurs, we always think, widely to some extent, that it's up to us to make a decision. The buck stops with us. We have to make a decision. We have to stick with it.
Hey, that's life as an entrepreneur and a leader.
Having said that, a lot of times, the right decision when you are genuinely uncertain about something is to test the alternatives. As an analytics person, we tell our clients all the time that the best way to make good market decisions is to test the alternatives. To A/B test, to multivariable test, to test different ways of getting things done.
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Be ready. It's never as easy as it looks. It's something that you learn to manage time like we were talking about earlier, and you commit to the effort...
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It doesn't work as you planned. It's just like life. I mean, as much planning as you want to do, you start, and it's totally different than what you expected.
So you have to adjust. You have to be very flexible. You need to be ready to burn money. You need to realize that it takes a long time, and it costs a lot of money, and you're going to have to navigate through that in order to get to the other side.
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Network. Network as much as possible. Let's say you're a lawyer, let's say you're an electrician, let's say you're a medic, let's say your ANYTHING!
It doesn't matter what you are. Or what profession you are in. Speak to viewpoints outside of your bubble and get a better understanding of what their pain points are.
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Getting into a startup is exciting, but it's also scary. Like, when I did it myself, when I was the actual Founder, the Owner, the CEO of the company, responsible for everything, and all of the money, and how your build the product, and all that goes in, it becomes scary.
You're no longer that right-hand person because you always have someone taking care of it, you are THAT person...
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Be humble enough to ask for help. You know?
That's twofold. Being humble and humility goes both ways. So ask people for help. Don't ever think that you know everything. You can always go out to your network and ask people for help. That's the first thing about being humble.
Then the second thing about being humble is: be able to take criticism in terms of what you've built and poking holes at it.
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It's a long road, and you have to be resilient and passionate. Otherwise, you burn out.
It's just as simple as that.
Being an entrepreneur, having been in different startups, you can't survive unless you have that mentality.
View video: https://milleripl.com/blogs/inventive-journey/resilient-&-passionate
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Make sure you are ready for it and be prepared because it's a long, hard, tough road. But be incredibly stubborn.
There were at least a half a dozen times at Simple that I was ready to just give up & just be like "We can't do this!" like "This is just undoable!"
There are so many [moments] where you think that everything is fine, you have it all figured out, and out of the left field you just get this massive shock and you're like "Everything that we've spent the last 6 months working on, throw it away, start again!"
The only reason that we succeeded is because we just kept at it. We never ACTUALLY gave up. That's where having a good co-founder is useful. Many times I've convinced Josh not to throw in the towel, and many times Josh convinced ME not to throw in the towel.
It's simple, right? We never had all 3 cofounders ready to give up at the same time, thankfully. So we never did.
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I think trying to get multiple perspectives on something [is important]. It sort of contradicts what I said earlier. In a way, you don't want to be distracted.
At the same time, when you are building plans and when you are basically looking at everything and deciding whether this project is something that may grow into something big, I think various perspectives from people with different backgrounds, particularly a business background, are extremely helpful.
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The more focused you get, the better.
Something you NEVER want to say is "I want to just podcast about everything and I want it to be for everybody." If it's about everything, it's about nothing. If it's for everybody, it's for nobody. It's the truth, the more focused you can get, the better.
I had somebody that I've done some work with, and her name is Vanessa Edwards. She has something called "The Science of People" which is her company. When she first got started, she said that it was for "recovering awkward people." She fully expected there to be 10 people that fit that category. People that are anti-social, that get nervous around people, and wanted to recover from it.
She firmly said, she said she only had 10 customers. That's all she was ever going to get. Maybe 100 if she met EVERYONE all of the people in the world that fit that category. She literally has MILLIONS of listeners and customers now.
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I'd just go back to my slogan that "Easy is Hard, and Hard is nearly impossible." Where, if you're going at it with a small group of people, you want to have something competitive. However, if you overdesign and overreach on features...
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SME. Are you an SME in the field? Are you a Subject Matter Expert. If you're not, partner with someone, or get a bunch of advisors who are.
You have to answer, as an innovator, you have to answer, every call has to be, "Why the heck do you exist?" And if you can't answer that, please don't start a company.
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Make sure you find the right partner. It's all about people. Business is all about "If you want to solve the problem", it's all about the people!
By yourself, you can do certain things, but you need to have somebody that will be able to challenge you at the same time. So try to find a lead, a partner that will align with your personality and your culture. Whatever is it is, make sure you find the right type. Pick the right type as soon as possible, and don't delay the process.
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You are optimistic anyway, so you tend to be aggressive. But then you say "Ok, I'm aggressive, so, therefore, I want to try to be conservative." So you make some estimates and then, maybe, you double it.
Well, you're really probably wrong by 6x. What I've always found is that things are 3x as long and cost 3x as much as I tend to think when I go into it. So you have to prepare for that.
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One thing that they really need to do is: Get a team of experts. And a team of experts doesn't cost that much. So make sure that you have one person that is a really good mentor. So start with that.
Then, get a good attorney, get a good CPA, get it started right.
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"For every step that you take up that ladder, through a network or through a connection from somebody that pulls you up, pull up 3 other people behind you. That's my advice."
"Think about the pyramid effect, the positive pyramid effect, if we all did that. It'll pay back so many times if you do that. If you don't just look out for yourself, but look out for your community."
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"I would advise to be ready for everything. Don't take anything for granted. So sit tight, be ready, and if you enjoy roller coasters, this will be a hit for you!"
"Go along the ride, and make the best out of it. Don't be disappointed when you hit roadblocks, because there will be a lot of them. So be ready, motivated, and move forward."
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I think this is probably true of almost every founder, but certainly first-time founders. For every person that truly believes in you, there's gonna be 100 that either doesn't believe in you, or don't care. That could be investors, that could be potential customers, it can be potential team members.
From the people who believe in you (those are gold), draw your inspiration from those people.
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"I think the worst business decision I've ever made is to not go into business for myself. Because, you know, I was so miserable for so long & working for other people & not having things the way that I would do them. It was a big struggle."
"So I think that the biggest part of the bad decisions that I'd made was that I didn't go into business for myself."
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âAlways focus on solving a problem, and having a differentiator. From the time you start your business, to the time it's ready to launch, or you are raising money, the market may be evolving. Anything may happen, etc.
One thing that I think we've done well, and what I would recommend to any new entrepreneur is to adapt to the situation while still trying to solve the problem that you were trying to solve in the first place."
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"The best strategists I've seen have very strong viewpoints in what they believe, BUT they listen to everyone else's."
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âMost entrepreneurs, they are going to want to do it themselves. Piggybacking on the previous conversation, you are right. It is easier to do it yourself. It is faster to do it yourself, because, guess what. you HAVE been doing it yourself. But draw a line."
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Mitch Colleran, CEO and Entrepreneur in the tech industry, as he shares his inventive journey.
âIf you don't know where to get started, then look at what is in front of you and try to distill what you see as success into the smallest, most manageable, and most accomplishable thing. Do that one thing.
When that one is done, do that same process. Figure out what the next, tiny, manageable thing is. When you do that every day, and you build a pattern of progress, you'll be pretty surprised at how far you get."
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from John Hallman, entrepreneur in the field of brand management, as he shares his inventive journey.
âMake sure you are capitalized personally to be able to play the ball game. Because revenue sometimes is a bit of a challenging item, especially if you are building a tech platform. Something that requires many many man years of time time to develop. You really have to have a personal financial situation to be able to do that, so don't just quit your job because of the lure and the fun of being at a start up. Make sure you have the run way to do that because raising capitol is not easy!â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Ajay Bam, entrepreneur in the field of artificial intelligence, as he shares his inventive journey.
âFocus on the problem, and focus on whether there is a problem, or someone actually cares about the problem. And whether someone is willing to pay for you to solve that problem.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Malinda Coler as she shares her inventive journey.
"You can test anything right now. People get all of these hangups, 'Well, I have to develop it, I have to build this, I have to have money..." and you don't have to. You can go out and start talking about it. You can identify your target market and start running ads or posts and talking to people and see if it resonates. The minute you think you're onto something, start running tests!
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Alex Burkhart, Innovator, Marketer, Entrepreneur, as he shares his inventive journey.
"You have to keep jumping in and working on things. I think too many people want to sit behind a desk or in a huddle room and just noodle out on a whiteboard this 'big vision.' A lot of people can articulate that vision. They see the empire they want to build. They see that scale, but they don't know how to take one step forward."
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Learn how to find the right accelerator for you, and how you can use it properly. Meet Jeff Wallace, a past businessman, and now a dedicated entrepreneur focused on helping people accelerate their start up.
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Hugo Peland, entrepreneur in the field of gaming, as he shares his inventive journey.
âJust do it, it's literally that simple to me. Because I think that there is never a perfect moment to try, so I think that of course we all have certain issues. If you have like zero income no savings, okay maybe you need some sort of safety net in place before you can take that leap of faith. But otherwise you know just do it!â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from James Creech, entrepreneur in the field of digital media, as he shares his inventive journey.
âFind a coach, right? Mentors have been so instrumental to me on my journey, and now paying that back being a coach, being a mentor for others has also been extremely rewarding.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Todd Elkins, entrepreneur in the field of construction, as he shares his inventive journey.
âIts a grind. I've read all the books and everyone talks about zero to one, building a start up, start up manual, but everyday you are going to learn something new. You are just going to make so many mistakes. Then you are going to realize oh I did that wrong I have go to re-do it, or other companies didn't have this problem why do we have this problem. Like you're not the first person to have this problem, but its you, and its your company, and its your idea, and mine is different. I mean covid aside and all of that life is different now then when a lot of these books were written two, or three, or four, or five, or six years ago. I mean things change and its always kind of this fluid environment.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Ankesh Kumar, entrepreneur in the field of personalized sales, as he shares his inventive journey.
âThink strategic! So if your trying to get into business, yea there is a business opportunity react tactically. I think a lot of people I talk to they have a really good idea, and they want to do this and that. And I say okay what are you going to do about it? I think that seriously everybody its one percent inspiration, and ninety nine percent perspiration. I mean its the same sort of thing. It's like you have got the idea, but when are you going to talk to people, just talk to them in space? Have you sort of started making connections? People are actually really nice, people are good. If you reach out to ten people on Linkedin, you are going to get three or four people coming back saying hey I know you work for whoever, I'm thinking about this idea. So you know, think strategic act tactically with ninety percent of what you do do something to further the idea.â
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Meet Jen Schwartz, a couples and family coach. She aims to help entrepreneurs establish a good work life balance, so they can strengthen their life in both aspects. She will teach you about how much effort it takes for a startup, and what you have to do to continue a strong and healthy marriage.
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Marsha Wilson, entrepreneur in the field of cyber security, as she shares her inventive journey.
âIf what you're passionate about is what you want to try, for all means go try it! But recognize that no one else is going to be able to do what you do, no one is going to bring the same passion you do. Don't let someone tell you that crocheting frogs is never going to make anything. It depends on whether someone picks you up on Instagram, there is so many what if possibilities!â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from John Driscoll, entrepreneur in the fields of marketing and technology, as he shares his inventive journey.
âAct like your at war, and you have no time for a social life. Go all in, and just go all in! Don't do anything else just get rid of all the other things you're doing in your life. People they try to do everything, and you can't! If your going to be an entrepreneur that is your hobby, you don't get to have hobbies to. That is your life, that is your ministry, whatever you want to call it. You are the priest of that business, so get rid of the girls, you don't need them, you will get them later. Especially if their young I always tell them you don't need girlfriends just move on.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Mao Du, entrepreneur in the field of home buying, as she shares her inventive journey.
âInstead of building a perfect product, and reach out to be seen and pitch to them. You should spend more time on yourself learning different perspectives. Try to fill the gap of the skill set you don't have.â
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Entrepreneurs! Would you like to increase communication in your marriage, even with the limited time that the entrepreneurial lifestyle brings?
Tune in to this episode of Expert Advice, and learn from Amanda Louder. Discover the importance of maintaining a good relationship with your spouse, and learn how you can do that while also supporting your startup or business.
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Karthik Rau, entrepreneur in the field of remote monitoring, as he shares his inventive journey.
âI think you should just do it. There are people that I'm sure have, especially here in Silicon Valley, have the ambitions for something. You are sort of a very friendly environment itâs an environment that is very forgiving. You make a mistake and you always have the opportunity to go back and do something else. So yea don't pass up the chance if you have a good idea that is worth pursuing, you should take advantage and, I wish everyone the best.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Farrukh Siddiqui, entrepreneur in the field of student loan financing, as he shares his inventive journey.
âYou have to plan your boot strap, you can't just start bootstrapping. You got to think about this, you got to look at your own personal savings, what's your strategy? Are you going to maintain a second job? Are you going to tap into your savings? Whatever your strategy is, plan it out! How much runway do you really have with that type of strategy? How far can you go? What do you need, to hire people?Can you do a lot of the work yourself from the beginning? How do you maximize your credit in those early days, to leverage as much from your credit to help you offset expenses or pay for expenses? And so on, so really plan out your bootstrap. Not just jump in the water and try to swim, really plan it out then move forward.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Johnny Crowder, entrepreneur in the field of mental health importance, as he shares his inventive journey.
âYou don't know how many resources are available for free, in your local community. So you just look stuff up.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Travis Jungroth, entrepreneur in the field of program development, as he shares his inventive journey.
âFind a real problem. Find a real problem and start making something that solves even some portion of it, but it is one thing! just find a real problem. You can tell its a real problem because people are willing to pay for it, and people are paying to try to solve it already, that sort of thing.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Ignacio Doncel, entrepreneur in the field of virtual gift cards, as he shares his inventive journey.
âChoose Your Advice, do your due diligence when it comes to advice. I mean due diligence can be applied to everything, it can be applied to every aspect of your business, but when it comes to advice that's where itâs more more important.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Jo Lynn Clemens, entrepreneur in the field of worker risk scoring, as she shares her inventive journey.
âdocumentation, the processes, right from the start I think that's so critical and key to have consistency. Because as a start up you are going to conduct. You would hope a sufficient amount planning, but as you are doing that you also need to be documenting your processes, so that hopefully you will come to a point where you won't have time to do that.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Morgan Gilliam, entrepreneur in the field of inventory tracking, as he shares his inventive journey.
âChannel of distribution, do you have the competitive advantage to a channel of distribution, or a product company, or a software or a service? I think what people don't realize is you could create an amazing product and amazing software, but if you cant get it out to the masses and sell it, then the product will just fizzle out and people will never know about it. so if your going to go into business try to find a competitive advantage to a channel of distribution.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Nuri Otis, entrepreneur in the field of communication services, as he shares his inventive journey.
âAddress It upfront. Put it upfront have your story. When I met you I told you I have it written out it's sitting on the desktop of my computer and I read it. I read it because this way I know that I have given everybody the whole story. And that's what's important.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Champion Muthe, in the field of social connections, as he shares his inventive journey.
âBe courageous. It gets really scary. I think when you go out on your own as an entrepreneur kind of navigating the world on your own without the help of a huge corporation behind you, or a big team behind you. so what I would say is sometimes you start to question yourself like am i doing the right thing? Am I going to be able to sustain this business? When you get to the point in your mind I think it's important to remind yourself of why youâre doing it, why you're passionate about it, and to find a way to inspire yourself to keep going.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Elizabeth Dodson, entrepreneur in the field of app development and real estate, as she shares her inventive journey.
âMake Decisions do your best to gather the data you need in order to make that decision but just make a decisionâ
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Michael Nusinkis & Jack Nekhala, co-founders of Bed Scrunchie, as they share their experience and wisdom.
"If you wake up every day saying "I want to become a star! I want to become a star!", you probably aren't going to make it as a star. If you wake up everyday "I love this game, I can't wait to go play" THAT'S when you are going to become a star. If you can honestly say "I can't wait" when you wake up, you'll make it."
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Onur Nacakgedigi, entrepreneur in the field of dentistry, as he shares his inventive journey.
âDo It, just do it, because everyone has a great idea. everyone has a great idea with great potential, but everyone is waiting for the good moment. But just do it every moment is valuable for everyone. Because if you wait something maybe someone will make happen your idea, and maybe they will follow with some things but you can do better. So why you are waiting just do it!â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Carl Finch, entrepreneur in the field of programming, as he shares his inventive journey.
âBuilding a startup is not easy, it's just not easy! Even with our app generators, it's not easy!â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Denis Underwood, entrepreneur in the field of cyber security, as he shares his inventive journey.
stop procrastinating just do it, there is so many lessons like you and I with our businesses have learned. There really is no other way to do it, other than when you're up at midnight trying to understand tax law for your parole, there just is no other way.
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Andrew Lopez, business screen writer, as he shares his inventive journey.
âgive yourself a try, don't be afraid to put yourself out there. I know its scary, I know its tough, there is financial burdens sometimes, just don't be afraid to give yourself a try. Because if you let that slip 5, 10, 20, 30 years later that's where the regret sinks in.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Michael Malone, entrepreneur in the field of mental aids, as he shares his inventive journey.
âIf you think about your idea, and you figure out who your target market is. Go out and talk to them! And not people who know you people who are friends and family are going to be predisposed to encourage you.â
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Jon Romm, content expert & entrepreneur, as he shares his inventive journey.
"It is ok to move in a direction for something where you don't know everything about it. But I do think that there need to be elements of it that you know a lot about, and you need to be able to surround yourself with others that know about the areas that you don't know."
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Nihdi Jadhav, Entrepreneur & Advocate For Quantum Computing In High School , as she shares her inventive journey.
We probably won't be able to teach as much, or give as much in depth explanations about certain aspects as quantum computing professionals. Because they have been doing it since college. Its a good balance between the two that we believe will help high schoolers learn, as well as having a positive experience.
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from John Standish, entrepreneur in the field of technology, as he shares his inventive journey.
Build a team in trust. The things you need to look for and bring in, I mentioned it just a couple minutes ago, integrity is everything. Ethics, you have got to do the ethical thing.
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Learn from Inventor, Entrepreneur, and CEO of Create A Castle as he shares his inventive journey.
"Don't think that you are getting into this to get rich quick. It doesn't usually work like that. You can be deceived by some of the TV shows you see on there where people say 'Ah, I went viral overnight...' and 'this cost me $1000 to set it up...' Sometimes you can get lucky like that, I'm not saying you can't, but 90-99% of the time you're not gonna."
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In this podcast episode of The Inventive Journey, entrepreneurs will learn from Anna Gannon, an entrepreneur with experience in logistics, freight, and food, as she shares her inventive journey.
"Take stock of your emotional health. The highs are really high, and the lows are really low, and it's very isolating."
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Meet Rachel, a businesswoman thrown into the world into entrepreneurship, as she shares her inventive journey.
"I think that every single person, whether you realize it or not, has had a million-dollar idea. The problem is that people feel apprehensive about quitting what's comfortable and their day-to-day to actually focus 100% on their idea."
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"You need to get comfortable with the unknown. When you are doing things like this, innovating, pushing the envelope, leading the edge type of approaches, you may lose some sleep over that. But each time that you can see the proof that it works and has paid off, you will sleep much better."
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"Business is the business of people, NOT of products or services. Get out there. Find your tribe. Make sure you are well-known and well-seen, that you are synergistic. You are your brand for the first 5, even 10 years." Meet Dr. Jacqueline Darna, an entrepreneur, CEO, and inventor. Learn from her experience as a doctor in the medical field as she used her experience to invent new and revolutionary products.
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In this episode of The Inventive Journey, a podcast for entrepreneurs and small businesses, hear from David Borish. "People say 'I don't have the right schooling.' YOU DON'T NEED schooling! You can go online and download courses from MIT and other universities for free. You can research and study any business that you want to study!"
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"Take responsibility for everything. In the end, it's yours. You're responsible. If you do that, no matter how bad things go, there's a path. I am still standing, 14 years later, because I did that." Listen to Chris Murphy, a serial entrepreneur that focuses on small businesses, as he shares tips from his experience.
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Podcast for entrepreneurs and small businesses "You might think it's a good idea, but the MARKET is going to tell you whether or not it's a good idea. Don't talk to friends and family, talk to people you don't know." Listen to Bill Lear, a physician & entrepreneur, that revolutionized the medical/suture industry.
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"You have to be emotionally secure enough to face what feels like a lot of rejection from the market..." Listen to the podcast for entrepreneurs, businessmen, businesswomen, startups, inventors, and small businesses.
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"Being a certified minority-owned, women-owned, certified vet-owned, certified WHATEVER YOU CAN DO, if you have the opportunity, I would grab it." In this podcast for entrepreneurs and businesspeople, listen to the Inventive Journey of a powerful entrepreneur as she shares her biggest tips and experiences as she has started multiple startups.
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"There is something that I think most entrepreneurs need to really understand. It's that your most important decisions are made in the moments that you are experiencing the most fear." Learn from the inventor of the light that kills COVID-19.
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This podcast episode is for startups, small businesses, and entrepreneurs who want to learn more from Devin Miller's Inventive Journey.
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Learn more about Juliet Clark's unique and fascinating journey as a businesswoman, author, and inventor.
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What happens when you decide to make the jump from a big company to a startup. Hear the inventive journey of Bryan Heslop as he travels along his inventive journey with a new startup.
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When real estate meets the shared economy rentals you get My Trip Stay. Learn about the inventive journey of Jerry Pierce and My Trip Stay
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Hear the inventive journey of Spencer Barclay, who was just coming off of an exit from his last startup and decided to found the financial planning platform Savology to help the younger generation manage their money. Find out more at Savology.com
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