963: THIS PODCAST HAS BEEN TAKEN OVER.

WEBVTT

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Hey we talk about it once a month, so it's very valuable.

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Entrepreneurs, entrepreneurs.

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It's Brian here.

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It's Brian LaFermento and I've been taken over by AI.

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Everything you're about to hear is completely generated by AI.

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They've taken over this podcast.

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Today we're going to try something a little different.

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Yeah, let's imagine we're hijacking Brian Lofermento's One Entrepreneur to Entrepreneur podcast and giving you a crash course in entrepreneurial thinking straight from his book.

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That's right.

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We're going to distill all the wisdom from that book into actionable insights and stories.

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Okay, okay, hold on, wait a second.

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You're probably so confused about what's happening right now.

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So here's the thing Within entrepreneurial conversations and within so many of our amazing episodes with the incredible guests that we welcome on, we inevitably end up talking about AI, and I frequently refer to the fact that I use AI to give me external perspectives.

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I love bouncing ideas off of it and just having a second brain of things that I don't necessarily think of.

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So everything that you're hearing in today's episode is truly completely generated by AI.

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There's no instructions from me.

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All I've done for today's episode is, given an AI model, the entirety of my book, wantrepreneur to Entrepreneur, which I published nine years ago.

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So it's cool to revisit it, and then that's it.

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All I did was clicked, generate audio.

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So what you're hearing is this AI language model create a podcast episode out of my book.

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So, if you want to see where AI is at, this is a podcast episode completely generated and hosted and yes, today hijacked by AI.

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So you're not only going to see the power of AI, but what I'm really excited about is that we're all going to get to revisit so many of the entrepreneurial lessons that I found upon the first six years of my own entrepreneurial journey, and here we are, almost 10 years later, where I get reminded of all these things.

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So I know that the AI is going to pull out interesting things and perspectives and insights and analogies and stories, not only from my book, but pulling on do I say, their own perspectives.

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I don't really know, but whatever it may be, we're all going to get at least a few actionable ideas and really it's going to resonate in different ways for each of us, based on where we're at.

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And so, if you stick around until the end, I'm also going to tell you how you can get your hands on my book completely for free, because I'm in a very giving mood.

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The holidays are right around the corner.

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So listen to the AI, we're all going to learn some stuff.

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And then catch me back here at the end of today's episode.

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All right, so Brian kicks things off.

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Yeah.

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With this idea of starting.

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Yeah, not just daydreaming about your business, but taking that first step.

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The first step, and it can be terrifying.

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Oh, it's scary.

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He uses this analogy of quitting smoking.

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Oh, wow.

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To illustrate this point.

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Okay, you know, quitting isn't like a one-time decision, right, it's like this daily commitment until it becomes a habit.

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It is.

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So I guess applying that to starting a business Okay, it's about making the choice to take action every single day.

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That makes sense.

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Even if it's just a small step.

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It doesn't matter how small.

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Now what I thought was interesting is this concept of starting before you're ready.

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Yes, this is huge.

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Brian launched his soccer website.

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Premiership Talk.

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I love that story.

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When he was only 19, with zero experience Wait 19?

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.

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He had no clue what he was doing.

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None, I mean think about it, you know.

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Yeah.

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Think about when you were 19.

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Did you know everything?

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Heck, no, no, but you figure it out as you go along.

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That's so true.

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Right.

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I remember when I first started out.

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Yeah.

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I was a total newbie.

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I had no idea what I was doing.

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Everyone starts somewhere.

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And Brian.

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He actually got into legal trouble.

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Oh yeah.

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Early on because he posted a picture of this New England soccer jersey.

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Before it was released.

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Seriously what happened.

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Well, the company that was manufacturing the jersey.

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They were not happy about it.

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Oh no.

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But instead of panicking, he rallied all of his website's fans and stood his ground, really, yeah, and this got him more attention and put premiership talk on the map.

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Wow.

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So that's a perfect example of how a challenge can actually be a good thing.

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Yeah, like you can overcome them when you're already moving.

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You learn by doing you do Even if it means making mistakes along the way.

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Exactly.

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This actually leads perfectly into the next key takeaway Mindset Mind.

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Exactly this actually leads perfectly into the next key takeaway Mindset, mindset.

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Yes, brian says it's the ultimate factor in your success.

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Really Even more than resources or experience.

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He says so and you know he uses Sylvester Stallone as an example.

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Oh yeah, stallone.

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He wrote and starred in Rocky while facing rejection and financial hardship.

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Yeah, if that's not a testament to mindset, it's incredible.

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And you know, even when you achieve some success, yeah, that imposter syndrome can sneak in.

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Oh you know that feeling of who am I to do this?

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Oh yeah, I know that feeling.

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And Brian has some great strategies for overcoming this.

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OK.

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And it boils down to remembering that you're always at least one chapter ahead of somebody.

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You know that's such a simple but profound idea it is.

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I get so caught up comparing myself to experts in my field and feeling inadequate.

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But you have knowledge and experiences that others don't.

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Brian tells a story about helping a student launch a photography business.

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Okay.

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Even though he himself only had basic camera knowledge.

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So it's really about focusing on the value you can provide, yeah, rather than dwelling on what you don't know.

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Exactly, you can always learn and grow along the way.

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So we've talked about starting before you're ready.

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Yes.

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Cultivating a resilient mindset yes.

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What else does Brian highlight as crucial for entrepreneurial success?

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Focus, focus.

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He argues that success comes from picking one thing.

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Okay.

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And sticking with it relentlessly, even when things get tough.

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He uses the analogy of a woodpecker.

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I love this analogy.

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Pecking relentlessly at one tree, yeah, versus sporadically at many.

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So good.

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I mean, it's a great visual for the power of concentrated effort it is, and this laser focus also applies to understanding your ideal customer.

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Yes, your customer avatar.

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Getting to know their problems Right when they hang out online.

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How you can tailor your solutions to meet their needs.

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Exactly.

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He even gives an example of using Google's keyword research tool oh yeah, to find people actively searching for specific solutions.

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It's amazing how much you can learn from these online tools, right.

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It's incredible.

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Yeah.

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And here's where I think Brian flips the script.

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Okay, on traditional business advice, all right.

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I'm intrigued.

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He says there's no such thing as competition.

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What no competition?

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Only peers from whom you can learn.

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That's a really interesting perspective.

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Right, most business books tell you to analyze and outmaneuver your competition.

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Yeah, so what does he suggest instead?

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He encourages dissecting your competitors' businesses, but from afar and from within, by actually becoming a customer.

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Wait, you mean like buying their products or services?

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Yeah, Think of it as an investment in knowledge.

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By Okay, by going through their sales process, you can experience their pitch Right.

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See their pricing.

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Yeah, understand how they convert leads into customals.

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That's brilliant.

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You can reverse engineer their processes.

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You can and apply those learnings to your own business.

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Absolutely.

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He shares how he's bought countless courses and products just to see how their systems work.

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Wow, that's commitment to learning.

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He even bought a $2,000 course from a competitor $2,000?

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Yeah just to see how they structured the program.

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Did he learn anything valuable from that?

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Absolutely.

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He was able to glean insights into their marketing strategies, price and models, and even their customer service approach.

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Wow, he took those learnings and applied them to his own business, making it even stronger.

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So it's about being a student of the game, even if it means spending money to make money.

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It is.

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What else did Brian learn from dissecting his competitors' businesses?

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He highlights the importance of identifying patterns.

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Okay.

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He observed that successful entrepreneurs in his field often use similar language in their marketing materials.

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Oh, interesting.

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They had consistent branding and even dressed in a particular way.

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So he's saying instead of viewing competitors as threats, see them as valuable sources of information, yes, and potential collaborators.

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Precisely.

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It's a shift from a mindset of scarcity to one of abundance.

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I like that.

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There's enough success to go around.

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Okay, so we've covered, starting before you're ready.

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Yeah.

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Cultivating a resilient mindset, uh-huh Focusing relentlessly.

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Yep.

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Learning from your peers.

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Yes, what's next on our entrepreneurial journey.

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Well, no entrepreneurial adventure is complete without encountering a few haters along the way.

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Ah yes, the inevitable haters.

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And every entrepreneur has to deal with them at some point.

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What does Brian have to say about dealing with negativity?

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He breaks down haters into three categories.

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Okay.

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Status quo haters, oh shit.

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Milestone haters, all right and success haters.

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Okay, I'm intrigued.

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Tell me more about these different types of haters.

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So let's start with the status quo haters.

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These are the people who are threatened by anyone who dares to challenge the established norms.

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Okay.

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They see your ambition as a personal attack on their comfort zone.

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So these are the folks who say things like that will never work.

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Yeah.

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Or you're crazy for even trying.

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Exactly.

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They're comfortable with the way things are, uh-huh, and they resist change, got it?

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Then you have the milestone haters.

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Okay.

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Who often emerge when you achieve your first taste of success.

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Are these the people who are supposed to be supportive?

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Yeah.

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But their reactions are surprisingly negative.

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Often yes.

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Hmm, reactions are surprisingly negative.

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Often, yes, they might downplay your accomplishments or express doubts.

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Yeah.

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And it can sting, because these are often people close to you, but their negativity usually stems from their own insecurities and fear of missing out.

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So it's more about their own internal struggles than anything you've done.

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Exactly, and then we have the success.

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Haters Okay, they appear when you, we have the success haters.

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Okay, they appear when you reach significant levels of success.

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Think of the people who try to diminish your achievements by attributing your success to luck or external factors.

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They were just in the right place at the right time.

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That's the one.

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It can be so frustrating when people refuse to acknowledge the hard work and dedication behind your success.

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It is frustrating, but Brian offers some really helpful advice for dealing with all these haters.

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Okay, I'm all ears.

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First remember that their criticism often stems from their own insecurities.

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Okay.

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It's not really about you.

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That's a helpful reminder.

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He also suggests using their doubts as fuel to prove them wrong.

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So turn that negativity into motivation.

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Exactly I like it.

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And remember you can't control what others think or say yeah, but you can control your own reactions.

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True, focus on your goals, yeah, and surround yourself with supportive people who believe in you.

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It's about protecting your energy.

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It is, and not letting the haters derail you from your mission.

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Exactly Okay.

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So we've covered starting mindset, focus, learning from peers and even dealing with those pesky haters.

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Gotta deal with them.

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What other gems does Brian offer in his book?

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Well, he also dives into the nitty gritty of building a successful business model.

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Okay, and one key concept he highlights is having a multi-tiered product mix.

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Can you break that down for us?

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Yeah.

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What exactly does that?

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mean.

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Think of it like creating different entry points for your business.

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Okay, to cater to a wider range of customer needs and budgets.

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I see Brian uses Apple as an example.

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Okay, highlighting how they offer products at various price points to appeal to different segments of the market.

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So not everyone can afford the top of the line iPhone Right, but they still offer more affordable options without compromising on quality.

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Exactly.

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And it's not just about offering cheaper versions Okay, it's about strategically designing your products or services at different levels of value and price.

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I see Brian shares his experience of creating a lower priced SEO audit service to attract clients who weren't quite ready for his higher priced monthly packages.

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That's clever.

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It was a brilliant way for him to build trust and demonstrate value to potential clients by providing a valuable service at a lower price point.

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He was able to showcase his expertise and build rapport.

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So did it work?

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And guess what it often led to those clients eventually signing up for his premium services.

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So it's like creating a staircase of offerings.

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I like that.

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Guiding customers towards your most valuable products or services.

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That's a great way to visualize it.

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He also points out that having a high ticket item in your product mix positions you as an expert and attracts clients who are serious about investing in their success.

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Yeah, that makes sense.

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If you only offer low priced products or services, it can be really hard to break through that income ceiling and establish yourself as a premium provider.

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You hit the nail on the head.

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Thanks, and Brian emphasizes that money is a measure of value, not time.

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That's a powerful mindset shift.

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I think a lot of entrepreneurs, especially when they're starting out, get caught up in trading hours for dollars.

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They do, but it's really about focusing on the transformative results you deliver.

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Yes.

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Not just the time you put in.

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He uses a really relatable example.

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Early in his career he built a website for $1,000.

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Okay, At the time he felt good about the hourly rate, but later he realized that the website generated far more than $1,000 in value for the client.

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That's when he realized that he had undervalued his work.

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So it's about thinking bigger and pricing based on the value you bring to the table.

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Yes.

00:13:58.745 --> 00:14:00.528
Not just the time you spend on a project.

00:14:00.668 --> 00:14:05.924
Exactly, and he stresses the importance of remembering that every customer is a person.

00:14:06.787 --> 00:14:08.801
Yeah, it's easy to get caught up in the numbers.

00:14:08.801 --> 00:14:14.407
It is, but each transaction represents a real person with real needs and desires.

00:14:14.407 --> 00:14:16.941
That's such a human-centered approach to business.

00:14:17.221 --> 00:14:17.523
It is.

00:14:17.803 --> 00:14:18.326
I love that.

00:14:19.375 --> 00:14:24.065
What are some practical ways that entrepreneurs can cultivate that personal touch?

00:14:24.566 --> 00:14:25.749
Yeah, how can we do that?

00:14:26.134 --> 00:14:33.182
Well, brian shares how he makes it a point to create personalized experiences, even if it's just a handwritten note when, or a small gift, for example.

00:14:33.182 --> 00:14:54.798
Yeah, if he learns that a client is celebrating a birthday or achieved a significant milestone, he sends them a thoughtful note or a small token of appreciation that's a great example those small gestures can go a long way yeah, they do in building rapport and fostering loyalty it's about going beyond the transactional it is and nurturing those relationships absolutely.

00:14:54.839 --> 00:15:02.826
It can lead to increased customer retention, yeah, positive word of mouth, referrals and a more fulfilling business experience overall.

00:15:02.934 --> 00:15:05.322
And, of course, no entrepreneurial journey is complete.

00:15:05.322 --> 00:15:08.342
Oh, here we go again Without its share of setbacks and failures.

00:15:08.383 --> 00:15:08.604
Right.

00:15:09.014 --> 00:15:12.645
What does Brian have to say about navigating those inevitable challenges?

00:15:13.155 --> 00:15:14.200
He embraces them.

00:15:14.200 --> 00:15:21.388
He even describes the failure of his marketing agency as his biggest failure, but also his greatest learning experience.

00:15:21.388 --> 00:15:26.446
Oh wow, it's interesting how often our greatest setbacks pave the way for our biggest breakthroughs.

00:15:26.686 --> 00:15:27.226
It really is.

00:15:27.355 --> 00:15:30.945
He describes the feeling of his world falling apart when the agency closed.

00:15:30.945 --> 00:15:34.363
Oh no, but then he realized that nothing was actually fallen.

00:15:34.363 --> 00:15:38.265
Oh, it was a moment of clarity and liberation.

00:15:38.794 --> 00:15:40.642
So it was an opportunity to reassess.

00:15:41.082 --> 00:15:41.403
Yes.

00:15:41.595 --> 00:15:44.700
Learn from his mistakes Right and create something even better.

00:15:44.941 --> 00:15:45.503
Exactly.

00:15:45.503 --> 00:15:53.264
It freed him to pursue a more aligned path, I see, which ultimately led him to his current business that he loves.

00:15:53.565 --> 00:15:54.106
Good for him.

00:15:54.254 --> 00:15:57.352
And this leads to a concept that Brian learned from Jonathan Fields.

00:15:57.533 --> 00:15:57.715
Okay.

00:15:57.956 --> 00:15:59.686
The three buckets of a good life.

00:15:59.686 --> 00:16:00.208
The three buckets.

00:16:00.229 --> 00:16:00.450
I good life.

00:16:00.450 --> 00:16:01.274
The three buckets.

00:16:01.274 --> 00:16:02.981
I love that concept, Me too.

00:16:02.981 --> 00:16:04.761
Remind us again what are those buckets?

00:16:05.014 --> 00:16:06.462
They are contribution.

00:16:06.663 --> 00:16:08.481
Okay, connection and vitality.

00:16:08.481 --> 00:16:10.565
Right, it's a holistic view of well-being.

00:16:10.565 --> 00:16:16.561
It is it takes into account not just professional success Right, but also personal fulfillment.

00:16:16.701 --> 00:16:24.826
Yes, and the key takeaway is that your overall quality of life is determined by your least full bucket.

00:16:24.826 --> 00:16:25.327
Oh, that's so true.

00:16:25.327 --> 00:16:32.626
So even if you're crushing it in your business, if you're neglecting your health or relationships, you won't truly be fulfilled.

00:16:32.846 --> 00:16:37.349
That's such a powerful reminder to strive for balance in all areas of life.

00:16:37.349 --> 00:16:42.885
It is how does Brian incorporate this three buckets philosophy into his own life and business?

00:16:43.635 --> 00:16:47.124
He makes it a point to consciously fill each bucket every day.

00:16:47.283 --> 00:16:48.486
I love that For contribution.

00:16:48.486 --> 00:16:48.748
Yeah.

00:16:48.894 --> 00:16:53.413
He focuses on work that is meaningful and impactful for connection.

00:16:53.634 --> 00:16:53.794
Yeah.

00:16:54.135 --> 00:16:59.908
He spends quality time with loved ones and builds authentic relationships with clients and colleagues.

00:16:59.908 --> 00:17:01.600
That's great and for vitality.

00:17:01.740 --> 00:17:01.900
Yeah.

00:17:02.215 --> 00:17:09.128
He prioritizes his physical and mental health through exercise, healthy eating and mindfulness practices.

00:17:09.234 --> 00:17:10.599
So it's about creating a life you love.

00:17:10.599 --> 00:17:13.000
It is Not just a business you tolerate.

00:17:13.121 --> 00:17:17.324
Exactly, and Brian encourages all of us to ask ourselves.

00:17:17.644 --> 00:17:18.727
Okay, what's the question?

00:17:18.974 --> 00:17:23.825
How can I fill my contribution, connection and vitality buckets while building my dream?

00:17:24.026 --> 00:17:24.948
I love that question.

00:17:25.127 --> 00:17:25.308
Yeah.

00:17:25.914 --> 00:17:30.266
It really shifts the focus from solely achieving external success.

00:17:30.527 --> 00:17:30.887
Yeah.

00:17:31.015 --> 00:17:34.644
To creating a life that is truly fulfilling and well-rounded.

00:17:34.986 --> 00:17:35.287
Yeah.

00:17:36.194 --> 00:17:38.983
It seems like Brian's book is packed with practical wisdom.

00:17:39.124 --> 00:17:39.526
It is.

00:17:39.734 --> 00:17:43.602
And inspiring stories Lots of them For anyone who's ever dreamt of starting a business.

00:17:44.084 --> 00:17:44.565
Absolutely.

00:17:44.565 --> 00:17:55.489
He doesn't sugarcoat the challenges of entrepreneurship yeah but he also offers a ton of encouragement and actionable advice to help Aspern entrepreneurs navigate the journey.

00:17:56.215 --> 00:17:57.520
Speaking of navigating the journey.

00:17:57.662 --> 00:17:57.863
Yeah.

00:17:58.055 --> 00:18:01.965
Let's talk a little bit about some of the practical aspects of building a business.

00:18:02.266 --> 00:18:02.487
Okay.

00:18:02.714 --> 00:18:04.342
Like building an online presence.

00:18:04.875 --> 00:18:06.982
That's a crucial aspect of entrepreneurship.

00:18:07.123 --> 00:18:07.344
It is.

00:18:07.394 --> 00:18:08.780
In today's digital world.

00:18:09.076 --> 00:18:12.095
What questions do you have about building an online presence?

00:18:12.316 --> 00:18:14.950
Well, one thing I've always struggled with is email marketing.

00:18:14.950 --> 00:18:17.721
Oh yeah, I know it's important it is.

00:18:17.721 --> 00:18:16.750
But I never know what to say.

00:18:16.750 --> 00:18:17.471
Yeah, oh, yeah, I know it's important.

00:18:17.613 --> 00:18:17.755
It is.

00:18:17.835 --> 00:18:21.464
But I never know what to say or how often to send emails.

00:18:21.464 --> 00:18:22.267
That's tough.

00:18:22.267 --> 00:18:25.663
What are some of Brian's insights on email marketing?

00:18:25.743 --> 00:18:25.903
Yeah.

00:18:25.903 --> 00:18:26.747
What does he say about that?

00:18:26.914 --> 00:18:29.943
Brian is a huge advocate for email marketing.

00:18:30.045 --> 00:18:30.346
Really.

00:18:30.494 --> 00:18:34.224
He compares building an email list to owning a radio station.

00:18:34.224 --> 00:18:39.201
Oh wow, you have a direct line to a loyal audience who wants to hear what you have to say.

00:18:39.221 --> 00:18:40.804
Okay, direct line to a loyal audience who wants to hear what you have to say.

00:18:40.824 --> 00:18:44.489
Okay, that's a great analogy, but how do you build that loyal audience in the first place?

00:18:44.509 --> 00:18:45.329
Yeah, that's the question.

00:18:50.795 --> 00:18:51.557
It starts with providing value upfront.

00:18:51.557 --> 00:18:53.083
Remember Brian's point about dissecting your competitors' businesses.

00:18:53.083 --> 00:19:00.826
He noticed that many successful entrepreneurs offer free, valuable content as a way to attract leads and build trust.

00:19:01.255 --> 00:19:04.423
You mean like free e-books, webinars or checklists.

00:19:04.724 --> 00:19:08.766
Exactly Things that provide value without asking for anything in return.

00:19:08.935 --> 00:19:10.488
So it's like the Annie Ann's pretzel thing.

00:19:10.628 --> 00:19:11.375
Yes, exactly.

00:19:11.615 --> 00:19:18.147
They know that once people taste how good their pretzels are, they're much more likely to become paying customers.

00:19:18.147 --> 00:19:24.702
It works, so it's about shifting from a hard sell approach to a more relationship driven model.

00:19:24.923 --> 00:19:25.183
Yes.

00:19:25.484 --> 00:19:27.209
Give first and the sales will follow.

00:19:27.315 --> 00:19:28.018
That's the idea.

00:19:28.018 --> 00:19:29.986
Once you've built an email list.

00:19:29.986 --> 00:19:38.087
Brian stresses the importance of sending regular, valuable emails that nurture those relationships and keep your audience engaged.

00:19:38.515 --> 00:19:41.481
What kind of content should entrepreneurs be sharing in their emails?

00:19:41.801 --> 00:19:49.565
Well, it depends on your industry and your audience, but the key is to provide content that is helpful, informative or entertaining.

00:19:49.785 --> 00:19:50.025
Okay.

00:19:50.205 --> 00:19:58.709
For example, if you're a business coach, you could share tips on productivity, time management or goal setting.

00:19:58.954 --> 00:19:59.396
Makes sense.

00:19:59.557 --> 00:20:07.460
If you're a photographer, you could share behind the scenes insights into your creative process oh cool.

00:20:07.460 --> 00:20:08.682
Or offer photography tips to aspiring photographers.

00:20:08.702 --> 00:20:15.827
So it's really about thinking about what your audience needs and wants it is and delivering that value consistently through your emails.

00:20:16.154 --> 00:20:21.807
Exactly, and Brian also talks about the importance of using email automation.

00:20:22.214 --> 00:20:23.157
Email automation.

00:20:23.398 --> 00:20:32.464
This allows you to create pre-written email sequences that are automatically sent to your subscribers, based on their actions or interests.

00:20:32.684 --> 00:20:34.237
Can you give me an example of how that might work?

00:20:34.458 --> 00:20:38.032
Let's say someone signs up for your free ebook on starting a business.

00:20:38.032 --> 00:20:50.739
Okay, you could set up an automated email sequence that welcomes them to your community, delivers the e-book and then follows up with a series of emails that provide additional tips and resources related to starting a business.

00:20:51.125 --> 00:20:57.057
So it's like having a virtual assistant who's nurturing those relationships for you.

00:20:57.117 --> 00:20:57.337
Yes.

00:20:58.025 --> 00:21:00.272
Even when you're busy working on other aspects of your business.

00:21:00.432 --> 00:21:05.477
Exactly, and it allows you to personalize those emails based on the subscriber's behavior.

00:21:05.477 --> 00:21:05.965
Oh cool.

00:21:05.965 --> 00:21:13.275
So, for example, if someone clicks on a link about social media marketing, you can automatically send them more information about that topic.

00:21:13.625 --> 00:21:15.050
Wow, that's powerful.

00:21:15.050 --> 00:21:15.894
It is Rob.

00:21:15.894 --> 00:21:18.835
Email marketing is way more sophisticated than I realized.

00:21:18.884 --> 00:21:20.191
It's a powerful tool.

00:21:20.464 --> 00:21:22.353
Any other email marketing tips from Brian?

00:21:22.585 --> 00:21:25.594
He reminds us that email is just one piece of the puzzle.

00:21:25.815 --> 00:21:25.955
Okay.

00:21:26.286 --> 00:21:30.337
It's important to have a multifaceted approach to build in an online presence.

00:21:30.578 --> 00:21:31.140
What else is there?

00:21:31.361 --> 00:21:38.876
This could include social media marketing, content marketing, search engine optimization and paid advertising.

00:21:39.397 --> 00:21:44.277
So it's about finding the right mix of strategies that work for your business and your target audience.

00:21:44.525 --> 00:21:53.519
Exactly, it's about being visible, okay, providing value and building a strong online reputation that attracts ideal clients.

00:21:54.386 --> 00:21:56.294
It's not just about being online Right.

00:21:56.294 --> 00:21:59.755
It's about being strategic and intentional with your online presence.

00:22:00.055 --> 00:22:03.372
Absolutely, and it's an ongoing process.

00:22:03.472 --> 00:22:04.055
Always learning.

00:22:04.125 --> 00:22:06.813
The online landscape is constantly evolving.

00:22:06.873 --> 00:22:07.655
It changes all the time.

00:22:07.825 --> 00:22:15.214
So it's important to stay informed Right, adapt to changes and experiment with new strategies to see what works best for your business.

00:22:15.596 --> 00:22:16.116
That makes sense.

00:22:16.116 --> 00:22:18.429
Yeah, okay, so we've talked about starting.

00:22:18.429 --> 00:22:22.428
Yes, mindset Focus yeah, learning from peers.

00:22:22.428 --> 00:22:25.036
Yeah, dealing with haters, those haters.

00:22:25.036 --> 00:22:27.430
Building a multi-tiered product mix.

00:22:27.471 --> 00:22:27.830
Yeah.

00:22:28.071 --> 00:22:30.096
Creating a personalized customer experience.

00:22:30.116 --> 00:22:30.397
Uh-huh.

00:22:30.704 --> 00:22:31.849
Embracing failure.

00:22:32.151 --> 00:22:32.332
Right.

00:22:32.746 --> 00:22:36.592
Filling your three buckets, the buckets and even mastering email marketing.

00:22:36.833 --> 00:22:37.515
Wow.

00:22:37.825 --> 00:22:40.294
Is there anything else Brian covers that we haven't touched on yet.

00:22:40.424 --> 00:22:44.036
Well, we haven't talked much about the financial side of entrepreneurship.

00:22:44.444 --> 00:22:45.047
That's a big one.

00:22:45.186 --> 00:22:48.757
What questions do you have about managing money as an entrepreneur?

00:22:49.505 --> 00:22:53.477
Well, I think a lot of new entrepreneurs struggle with managing their finances.

00:22:54.525 --> 00:22:55.186
It can be tough.

00:22:55.347 --> 00:22:56.250
It can be overwhelming.

00:22:56.250 --> 00:22:58.236
It is Especially when you're just starting out.

00:22:58.236 --> 00:23:04.638
Yeah, what are some of Brian's key insights on financial management for entrepreneurs?

00:23:04.845 --> 00:23:10.367
He stresses the importance of understanding your numbers and managing your money wisely.

00:23:10.829 --> 00:23:11.251
Makes sense.

00:23:11.372 --> 00:23:15.467
This might sound obvious, but it's something that many entrepreneurs overlook.

00:23:15.708 --> 00:23:16.209
I believe it.

00:23:16.569 --> 00:23:18.997
Especially in the excitement of launching a new venture.

00:23:19.825 --> 00:23:23.355
So what are some practical tips for getting a handle on your finances?

00:23:23.684 --> 00:23:28.186
He encourages entrepreneurs to track their income and expenses diligently.

00:23:28.207 --> 00:23:29.288
Okay, track everything.

00:23:29.307 --> 00:23:31.469
Create a budget that aligns with their goals.

00:23:31.469 --> 00:23:35.349
Good idea and separate their personal and business finances.

00:23:35.931 --> 00:23:36.550
That's a good one.

00:23:36.550 --> 00:23:40.232
Keeping those finances separate can help you avoid confusion.

00:23:40.573 --> 00:23:40.992
It does.

00:23:41.212 --> 00:23:43.233
And protect your personal assets Exactly.

00:23:43.653 --> 00:23:46.134
He also advises against taking on unnecessary debt.

00:23:46.255 --> 00:23:46.976
Oh, that's a good tip.

00:23:47.236 --> 00:23:49.436
Especially in the early stages of your business.

00:23:49.436 --> 00:23:53.019
You can be tempted to seek funding to grow quickly.

00:23:53.259 --> 00:23:53.519
Right.

00:23:53.878 --> 00:23:56.900
But it's often wiser to bootstrap and grow organically.

00:23:57.019 --> 00:23:58.820
It's about building a sustainable business.

00:23:59.101 --> 00:23:59.461
It is.

00:23:59.602 --> 00:24:03.182
That can weather the ups and downs, the roller coaster, without being burdened by debt.

00:24:03.542 --> 00:24:03.823
Right.

00:24:03.823 --> 00:24:09.061
He also encourages entrepreneurs to invest in themselves oh, that's important In their businesses.

00:24:09.082 --> 00:24:09.444
How do you do that?

00:24:09.664 --> 00:24:20.817
This could include taking courses, attending conferences, hiring coaches or mentors Right, or investing in software and tools that can streamline your operations.

00:24:21.265 --> 00:24:25.596
It's about recognizing that learning and growth are essential for long-term success.

00:24:25.845 --> 00:24:32.400
Absolutely, and he reminds us that money is a tool, a tool that can be used to create freedom and impact.

00:24:32.642 --> 00:24:33.085
I like that.

00:24:33.306 --> 00:24:40.236
It's about aligning our financial goals with our values Okay and using our resources to make a positive difference in the world.

00:24:40.384 --> 00:24:41.471
That's a great reminder.

00:24:41.471 --> 00:24:43.912
It's not just about accumulating wealth.

00:24:44.153 --> 00:24:44.394
No.

00:24:44.664 --> 00:24:49.477
It's about using your resources wisely to achieve your goals and make a positive impact.

00:24:50.005 --> 00:24:55.676
And, speaking of impact, brian also emphasizes the importance of giving back.

00:24:56.117 --> 00:24:57.046
I love that he brings that up.

00:24:57.046 --> 00:25:01.664
It's so important for entrepreneurs to use their success to make a difference in the world.

00:25:01.865 --> 00:25:09.538
He encourages us to identify causes we're passionate about and find ways to contribute our time, money or expertise.

00:25:09.838 --> 00:25:10.099
I see.

00:25:10.224 --> 00:25:13.434
This could involve volunteering for a local charity.

00:25:13.654 --> 00:25:13.895
Okay.

00:25:14.085 --> 00:25:16.933
Donating to a cause that aligns with our values.

00:25:17.055 --> 00:25:17.355
All right.

00:25:17.545 --> 00:25:21.096
Or using our skills to mentor or support other entrepreneurs.

00:25:21.184 --> 00:25:22.203
So many ways to give back.

00:25:22.365 --> 00:25:27.237
It's about recognizing that success is not just about personal gain.

00:25:27.497 --> 00:25:27.698
Right.

00:25:27.805 --> 00:25:30.094
It's about making a difference in the lives of others.

00:25:30.345 --> 00:25:34.836
And he reminds us that giving back not only benefits those we help.

00:25:35.037 --> 00:25:35.337
Yeah.

00:25:35.744 --> 00:25:39.236
But also brings a sense of fulfillment and purpose to our own lives.

00:25:39.465 --> 00:25:40.565
It's a win-win situation.

00:25:40.846 --> 00:25:45.055
You get to contribute to something meaningful and it brings joy and purpose to your own life.

00:25:45.494 --> 00:25:46.037
I love that.

00:25:46.817 --> 00:25:48.170
Okay, so we covered a lot of ground today.

00:25:48.170 --> 00:25:51.974
Yeah, is there anything else from Brian's book that we should highlight before we wrap up?

00:25:52.305 --> 00:25:54.192
Well, we've covered a lot of the key points.

00:25:54.413 --> 00:25:54.693
Okay.

00:25:54.765 --> 00:25:58.075
But there's one last message from Brian that I think is really important.

00:25:58.095 --> 00:25:58.476
What is it?

00:25:58.924 --> 00:26:01.405
Enjoy the journey oh that's so important.

00:26:01.405 --> 00:26:01.685
Yeah.

00:26:02.046 --> 00:26:05.868
It's so easy to get caught up in the hustle and grind of entrepreneurship.

00:26:06.109 --> 00:26:06.529
It is.

00:26:07.369 --> 00:26:09.311
And forget to savor the experience.

00:26:09.632 --> 00:26:11.693
He encourages us to celebrate our wins.

00:26:11.693 --> 00:26:13.535
Yes, learn from our setbacks.

00:26:13.674 --> 00:26:13.835
Right.

00:26:13.976 --> 00:26:16.376
And find joy in the process of building our dreams.

00:26:16.517 --> 00:26:17.157
So important.

00:26:17.337 --> 00:26:20.579
Remember entrepreneurship is a marathon, not a sprint.

00:26:20.760 --> 00:26:21.601
It's a long game.

00:26:21.901 --> 00:26:24.984
It's about pacing ourselves, okay, taking care of ourselves.

00:26:24.984 --> 00:26:27.806
Right and finding moments of joy and gratitude along the way.

00:26:27.945 --> 00:26:30.928
It's about creating like a life you love.

00:26:31.268 --> 00:26:31.528
Yes.

00:26:31.748 --> 00:26:33.127
Not just a business you tolerate.

00:26:33.347 --> 00:26:37.970
It really is, and Brian encourages us to ask ourselves yeah what kind of legacy?

00:26:38.190 --> 00:26:38.470
OK.

00:26:38.630 --> 00:26:40.111
Do I want to leave behind?

00:26:40.550 --> 00:26:42.590
That's a powerful question to reflect on.

00:26:42.892 --> 00:26:43.271
It is.

00:26:43.672 --> 00:26:47.373
It reminds us that entrepreneurship is about more than just making money.

00:26:47.653 --> 00:26:47.913
Yeah.

00:26:48.053 --> 00:26:50.733
It's about creating something meaningful and lasting.

00:26:50.913 --> 00:26:51.674
Exactly.

00:26:51.674 --> 00:26:54.976
And remember you have the power to change the world.

00:26:54.976 --> 00:26:57.457
Oh yeah, start by changing your own world.

00:26:57.557 --> 00:26:57.836
Okay.

00:26:57.916 --> 00:27:03.239
And, as Brian says, when you commit and decide to start, then you're already 99% there.

00:27:03.598 --> 00:27:05.618
That's such an inspiring message to end on.

00:27:05.618 --> 00:27:14.722
It is so much of entrepreneurship is about mindset, so much, and Brian's book seems to offer a blueprint for cultivating the beliefs and habits that lead to success.

00:27:15.042 --> 00:27:15.643
Absolutely.

00:27:15.643 --> 00:27:17.644
It's packed with actionable advice.

00:27:18.003 --> 00:27:18.183
Yeah.

00:27:18.183 --> 00:27:26.256
Inspiring stories and practical strategies that anyone can apply to their entrepreneurial journey.

00:27:26.256 --> 00:27:27.624
I think we've given our listeners a lot to think about today.

00:27:27.624 --> 00:27:29.308
We have From starting before you're ready.

00:27:29.308 --> 00:27:32.136
To embrace in failure as a learning opportunity.

00:27:32.325 --> 00:27:33.086
So important.

00:27:33.288 --> 00:27:37.386
Brian's insights offer a fresh perspective on what it takes to succeed as an entrepreneur.

00:27:37.909 --> 00:27:41.862
And remember, it's not just about achieving external success.

00:27:41.862 --> 00:27:44.130
It's about creating a life you love.

00:27:44.289 --> 00:27:44.490
Right.

00:27:44.791 --> 00:27:53.546
A business that aligns with your values and a legacy that extends beyond your own personal gain so to all the aspirin entrepreneurs out there.

00:27:53.887 --> 00:27:56.839
Yeah, remember Brian's message what is it?

00:27:56.839 --> 00:27:57.864
Start before you're ready.

00:27:57.864 --> 00:28:00.392
Yes, cultivate a resilient mindset.

00:28:00.392 --> 00:28:02.419
Focus relentlessly.

00:28:02.419 --> 00:28:09.237
Yes, learn from your peers keep learning embrace the challenges you got and find joy in the journey.

00:28:09.384 --> 00:28:11.611
And don't forget to fill those three buckets.

00:28:11.991 --> 00:28:12.452
That's right.

00:28:12.854 --> 00:28:13.736
Contribution.

00:28:14.076 --> 00:28:14.317
Yes.

00:28:14.605 --> 00:28:16.112
Connection and vitality.

00:28:16.365 --> 00:28:22.136
Murcher all three and you'll be well on your way to creating a life and business that truly thrives.

00:28:22.136 --> 00:28:22.739
I agree.

00:28:22.739 --> 00:28:26.856
Thanks for joining us on this deep dive into Brian Lofermento's Wantrepreneur to Entrepreneur.

00:28:26.856 --> 00:28:28.382
Great Thanks for joining us on this deep dive into Brian Lofermento's.

00:28:28.402 --> 00:28:29.204
Wantrepreneur to Entrepreneur Great book.

00:28:29.305 --> 00:28:32.012
We'll see you next time for another insightful exploration.

00:28:32.615 --> 00:28:32.996
All right.

00:28:32.996 --> 00:28:35.371
So it's real life human.

00:28:35.371 --> 00:28:38.117
Brian, back here at the end of this episode.

00:28:38.117 --> 00:28:39.924
I hope that you enjoyed today's episode.

00:28:39.924 --> 00:28:50.917
I hope that a little part of you geeked out about the just sheer technology that powers all of this the absolute state of AI here at the end of 2024.

00:28:50.917 --> 00:28:56.789
There's so much that's going to be coming over the next 12 months and beyond, so I hope you geeked out about that aspect.

00:28:56.789 --> 00:28:59.760
But I also hope that you gained some real life insights.

00:28:59.942 --> 00:29:12.101
What you heard the AI present to you today is just a small glimpse into all of the stories and experiences that I had and the lessons that I picked up along the way and the perspectives.

00:29:12.101 --> 00:29:14.292
You heard both mindset strategies.

00:29:14.292 --> 00:29:17.275
You heard tangible business strategies and actions.

00:29:17.275 --> 00:29:24.558
All of that stuff all packed into the book that started the entire Wantrepreneur to Entrepreneur movement.

00:29:24.558 --> 00:29:26.085
The book came out in 2015.

00:29:26.085 --> 00:29:31.795
A lot of you listeners have been with me all the way back to those days and I'm so appreciative of that.

00:29:31.795 --> 00:29:37.537
But a lot of you we've been growing like crazy over the past few years, so a lot of you are probably new to it.

00:29:37.537 --> 00:29:51.715
You've never read my book and so that's why here at the end of today's episode, I always like when AI actually brings humanity together and actually makes us reflect on the fact that, yes, we actually are all human and we have real emotions.

00:29:51.715 --> 00:29:56.270
Because what you heard from these two AI podcast hosts, they obviously don't have emotions.

00:29:56.270 --> 00:30:05.329
They're only going based on the inputs that they had, which, of course, is just a PDF copy of my book, and you heard it in some of their expressions that they're not human.

00:30:05.329 --> 00:30:12.877
Heck, they can't even pronounce ing the whole marketing and email marketing and every branding, when they couldn't say those.

00:30:12.877 --> 00:30:16.387
It's just a reminder that AI is not replacing us.

00:30:16.387 --> 00:30:24.053
Of course it's going to get much more powerful, but I want to celebrate the human aspect of business because it's the most important aspect.

00:30:24.053 --> 00:30:29.877
So if you want a free copy of my book I kind of teased it I'm going to give away I don't know, maybe 10, 20, who knows?

00:30:29.877 --> 00:30:33.409
We'll see how many copies of my book that I give away over the next week or two.

00:30:33.829 --> 00:30:43.231
But if you're listening to this episode and you want me to mail you a copy, I only have one ask of you and that is to leave the show a rating and review.

00:30:43.231 --> 00:30:53.442
It's so simple Fire up on any Apple device or Spotify your podcast app just on iTunes or Apple devices.

00:30:53.442 --> 00:31:03.834
It's so easy to open podcasts and leave us a five star rating and also type in a bit of a review and before you hit submit, screenshot it, but also submit it.

00:31:03.834 --> 00:31:06.828
Don't forget to submit it and then email me directly.

00:31:06.828 --> 00:31:10.258
My email address is hello at imetbryancom.

00:31:10.258 --> 00:31:12.653
Show me that you left that rating and review.

00:31:12.653 --> 00:31:14.191
There's no other way for us to verify.

00:31:14.191 --> 00:31:23.953
So please do take that screenshot before you submit it and also in that email, please leave your mailing address as well, and then hopefully, you're in the first 10 to 20.

00:31:23.953 --> 00:31:29.012
And if you are, I'll confirm that with you so that you've got something to look forward to in the mail.

00:31:29.012 --> 00:31:36.134
I've got some copies on hand and I'm really excited to surprise 10 to 20 of you with that over the next couple of weeks.

00:31:36.134 --> 00:31:37.440
So it's super easy.

00:31:37.539 --> 00:31:38.564
Honestly, there's no catches.

00:31:38.564 --> 00:31:40.449
Truth be told, there's absolutely no catches.

00:31:40.449 --> 00:31:41.673
Just leave a rating and review.

00:31:41.673 --> 00:31:43.597
It helps the show immensely.

00:31:43.597 --> 00:32:02.386
We're clearly doing a lot of cool and different things behind the scenes here, and just wait until all of our announcements that are coming in December, along with episode 1000, because we are working so hard to better serve you on your entrepreneurial journey, at every stage of your entrepreneurial journey.

00:32:02.386 --> 00:32:04.711
So rating and review screenshot that.

00:32:04.810 --> 00:32:05.593
Drop me an email.

00:32:05.593 --> 00:32:09.459
My email address is hello at I met briancom.

00:32:09.459 --> 00:32:13.314
Now that you met me on the show, hello at I met briancom.

00:32:13.314 --> 00:32:17.912
Put that screenshot as well as your mailing address and either way, you and I are going to chat.

00:32:17.912 --> 00:32:18.614
I'm super excited.

00:32:18.614 --> 00:32:26.869
Even if in the email, you just tell me a little bit about your business and what you're working on, I'd love to point you in the right direction of whatever resource I know or person I know that could help you out.

00:32:26.869 --> 00:32:28.092
So don't be shy.

00:32:28.092 --> 00:32:30.515
Hello at imetbriancom.

00:32:30.515 --> 00:32:42.349
Otherwise, my show was hijacked today and it feels good to be back, and I'll see you as always every Monday, wednesday, friday, saturday and Sunday here on the Wantrepreneur to Entrepreneur podcast.