March 18, 2025 • 32 mins
Failure isn't the enemy of entrepreneurship—it's the secret ingredient for success. Join us as we transform the conversation around business setbacks from sources of fear into powerful catalysts for growth.
The fear of failure traps countless would-be entrepreneurs before they ever truly begin. Our candid conversation peels back the layers of common entrepreneurial anxieties—financial loss, public embarrassment, disappointing loved ones, and the persistent shadow of imposter syndrome that makes us question our qualifications and capabilities.
When we examine sobering statistics (20% of businesses fail within their first year, 50% within five years, and 65% within a decade), we could easily become discouraged. Instead, we share compelling stories of business legends like Oprah Winfrey and Steve Jobs whose greatest innovations emerged directly from their most painful failures. These narratives reveal an essential truth: failure is not the end but merely feedback guiding you toward your proper path.
The journey requires fundamental mindset shifts—seeing challenges as opportunities rather than obstacles, embracing adaptability, committing to continuous learning, and celebrating authenticity over conformity. We explore practical strategies for managing entrepreneurial risks: starting small, testing ideas systematically, building financial safety nets, surrounding yourself with mentors and coaches, and establishing measurable goals that build confidence with each achievement.
Whether you're contemplating your first business venture or working to scale an existing enterprise, this conversation offers both the encouragement and practical wisdom to transform your relationship with failure. Remember: your destiny surpasses temporary setbacks, and the obstacles you overcome today become the foundation of tomorrow's success. The question isn't whether you'll face failure—it's how you'll use it to fuel your journey forward.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Hello everyone and welcome back to the Journey Out
podcast.
Today, we will be talking aboutovercoming fears as an
entrepreneur, so let's get rightinto it.
What is home care?
How do I navigate health care?
Speaker 2 (00:13):
What do I do when I feel down and depressed?
I'm stressed.
Am I enough?
Speaker 1 (00:17):
What can I do?
What is this going to cost?
So let's get into a little bitabout talking about how to
overcome fears as anentrepreneur and we're
entrepreneurs.
So we have been there, We'vedone that.
But I kind of want you to kindof go over for me why does fear
of failure hold so many peopleback?
Speaker 2 (00:39):
Wow, that's a good question.
I think nobody wants to failright.
Fear is really coming from theunknown.
You step out there, you start abusiness, but you don't have
the steps, you really don't havethe blueprint to make your
business succeed.
So the fear of failure is justhey, I don't know what's going
(01:03):
to happen.
I don't know what that's tohappen, right, I don't know what
that's going to look like.
I don't know if I'm going torebound.
But failure builds characterfor you to succeed in the future
.
Speaker 1 (01:18):
Right, right and honestly, you want to view as an
entrepreneur, you want to viewfailure as a stepping stone for
success, because if you don'tfail, you will likely just stay
the course, like you would justcontinue to do every day what
you thought worked every day.
And if you didn't find out thatit didn't work or it didn't
help people or it didn'tessentially do what your mission
(01:41):
is said to do, then you willjust keep doing what's not
important and it's not, it's notvaluing anybody in business or
in life.
Speaker 2 (01:53):
Right, obstacles going to come right through your
journey.
Obstacles going to come, butthose obstacles or those
failures or those situations arelearning lessons, right, right,
and that makes you better as aperson, right, if you learn from
.
Speaker 1 (02:12):
Right.
Speaker 2 (02:12):
Right, so now?
Hey, now I know how to navigatethrough this situation.
Right, this situation come upagain, or something similar.
I'm going to do somethingdifferent because I've learned
from the last.
Speaker 1 (02:23):
Right, and so let's talk about some common fears
that most entrepreneurs have.
Speaker 2 (02:28):
Well, let me ask you this Okay, go ahead.
How can entrepreneurs usefailure as a stepping stone?
Speaker 1 (02:36):
Well, I would say, essentially just being able to
redirect.
I think it's super importantfor entrepreneurs not to be kind
of stagnant or wanting to stayin one place or wanting to stay
in your comfort zone.
What failure tends to do ispush you in a completely
(02:56):
opposite direction, but withoutthat direction you can't grow.
You're kind of just stuck atthis plateau and you you know,
with failure it comes success,comes redirection, which leads
to different opportunities foryou to grow as an entrepreneur.
Speaker 2 (03:13):
So I would say that OK, so do me a favor right now.
Define failure in theentrepreneur journey in the
entrepreneur journey.
Speaker 1 (03:26):
Okay, so there's quite a few.
Obviously, one of the big onesis financial loss.
Everybody knows that if you'rean entrepreneur, you're going
into it with the mindset of Ihave to make my own money, right
.
And so one of the big thingsthat you're going to think about
is can I sustain this?
Am I going to be able to makeprofit?
What if something happens andthere's another coronavirus or
something you know pandemic andall these things that pop up?
(03:47):
Can I sustain through that?
What happens if I lose money?
Uh, another one is like publicembarrassment.
Um, so many people go throughdifferent things.
I mean, there's we've seen alot of, um, entrepreneurs that
are now put on blast for, youknow, doing things illegally or
just doing just weird things,and so, uh, public embarrassment
(04:09):
is always going to be one ofthose things of of, if people
don't agree with me.
You know, council culture is soreal these days.
If people don't agree with whatI'm saying, if people don't
agree with what I'm doing, thereis a potential for us to be,
you know, publicly for formaking decisions.
Speaker 2 (04:28):
Yeah, that you think is good for the business, but
also so what about you also havelet down family and friends?
Right because those people lookup to you first of all, right,
and those people are the reasonwhy you'll get in the business
or do.
Your journey is to support yourfamily right, and so you can
feel a little let down in doingthat.
Speaker 1 (04:49):
I mean, and you think about it, if you think about
first-time entrepreneurs likeourselves, we're the first ones
really in our family to say, hey, let's do something, let's
start something for othersbecause we went through
something.
We're the real firstentrepreneurs that can help hold
a lot of weight for some people.
(05:10):
And so a lot of people do lookat you like, hey, you got to
hold us up because you decidedyou wanted to do this and it's
going great now, but can yousustain, right?
Speaker 2 (05:19):
and yeah, and then that.
Then that brings in self-doubtand imposter syndrome.
So one big thing for me right,we're the biggest critics of
ourselves, right, we giveourselves the hard time we
criticize ourselves harder thanprobably anybody, which creates
self-doubt in our abilities todo things.
(05:40):
So then you add the impostersyndrome to it.
So now me, that means, hey, I'mcoming into a area of business.
I really have no experiencethen, right, but I'm trying to
imposter or do what other peopleare doing yeah, yeah, yeah and
that to me wasn't working it's.
Speaker 1 (06:02):
It's just one of those things like we, like you,
say we're our biggest critics,we don't feel like we're ever
prepared enough for where we areand where we're going.
Like we don't we don't everfeel like we're prepared enough.
When we, when you started pc,it was because granny was going
through what she was goingthrough and you was like, hey, I
need to be a resource for otherfamilies who went through this.
Okay, well, there's a, there'smore to business than just when,
(06:26):
like, I want to help people, so, so so listen, so listen.
Speaker 2 (06:29):
Even with that, what happened was okay.
Yes, I want to help people,yeah so the only thing I knew is
I want to.
I knew the adl part of it right.
I knew I wanted to assistpeople with bathing, grooming
the easiest.
We know that but once I startedlooking into it and going
through the state, oh man, Ihave to have agreements I have
to have this policy.
(06:50):
I'm like I didn't sign up forthis like it's.
Speaker 1 (06:53):
It's such a different thing.
And then also too, I don't knowabout like for you, but as far
as far as me, in school I didn'tlearn about entrepreneurship or
business, and then I didn't goto college for that.
I went and got a trade.
I became a medical assistant.
They weren't teaching us anybusiness or anything like that,
so it's all a learning curve so,yes, so eventually.
Speaker 2 (07:17):
For us and our demographics, usually sometime
the college or the schooling isthe hard knock life of jumping
in right, first right, and I'mgonna go back to this imposter
syndrome right I like to wear agood suit, I like to dress up,
you know I like to look good andsmooth.
But jumping into a networkingenvironment or a business
(07:37):
environment, that wasn't me thatyeah I was.
I like jogging pants and J's.
And once I said hey, let metake my identity back.
Some people like it, somepeople don't, but it worked for
me.
Speaker 1 (07:53):
And I think that's the beauty of entrepreneurship,
because it's not aone-size-fits-all.
Again, with the impostersyndrome, you can't please
everybody and you're not goingto be able to make everybody
happy, you're not going to fitinto every crowd.
It's not going to be that way.
I think, at the end of the day,as an entrepreneur, what you
(08:14):
have to wake up and do and sayhey one, I'm putting my faith
first.
First, if you believe I'mserving others.
Speaker 2 (08:20):
Second, and then the next thing I'm going to do is
make sure that I'm being myselfwholeheartedly in every
situation, because once youbecome yourself, or you find
yourself.
Like I always say uh, failures,build character right for you
succeed.
And, honestly, uh, as you gothrough your journey on whatever
that is, guess what thatcharacter is going to peel back
(08:41):
the layers right that you didn'teven know you had exactly to
make you be that person that youwere called to be.
Speaker 1 (08:47):
I mean, if every, if there's a bunch of breeze out
there, it.
The reason for entrepreneurshipis for you to be the antoine.
You know it's.
You have to be different, youhave to be yourself.
You can't, you can't just giveit to people cookie cutter and
it's not going to always workthat way.
People like, like authenticity,and when you bring that, that
sets sets the tone.
But kind of share somestatistics for me or some
(09:10):
research about just failure andentrepreneurship and kind of how
they really do go hand in handokay.
Speaker 2 (09:17):
so according to the us bureau of labor statistics,
around 20 of new businesses fellwithin the first year.
That's crazy, okay.
50% fail within five years.
Speaker 1 (09:30):
Okay.
Speaker 2 (09:31):
And then 65% fail within 10 years.
I thought that the longer thatyou have your business, the
greater it is to succeed Right,which in some cases and it can
be- yeah but they say 65 percentof businesses fail within the
first 10 years.
Not only you got to get backpast the first year, that's 20
(09:54):
percent of business failure, 50percent failing within five
years and then 65 percent in 10years.
Speaker 1 (10:00):
That's, that's so wow , that's a uh, just an alarming
statistic and, like you said,you don't think about that
because you're thinking, oh, ifthere's longevity, you're
obviously doing okay.
But sometimes that's not alwaysthe case, because the one thing
about being an entrepreneur andabout the longevity of
(10:21):
businesses they change.
That's why failure comes intoplay.
Things change, things happen,things evolve and sometimes you
can evolve in a direction thatis not good for growth, not good
for business, not good for youknow keeping people on board
with you.
And then sometimes you can growand have that longevity and
you're moving in a directionthat is positive, you know for,
(10:43):
for, for the trajectory of yourbusiness.
So it just really all depends.
Speaker 2 (10:48):
um, yeah, oh, okay, so let's go here.
Okay, so let's go, let'sreframe, let's reframing.
Excuse me, failure as learningtool okay reframing failure as
learning tool.
Speaker 1 (11:02):
Okay.
Speaker 2 (11:03):
Tell me something.
Speaker 1 (11:04):
So I think we have to shift our perspective on
failure.
Of course, failure is notsomething that you know we want
to happen, but it is, it's justbound to, it's just one of those
things.
So we have to uh shift ourperspective and understand that
failure is not, uh, the end, butit is feedback for growth.
(11:24):
Again, like we were talkingabout talking about earlier.
It does redirect you and getyou to a certain level that you
weren't at previously.
If everything was all good, youwould change nothing right.
Speaker 2 (11:34):
So you know so.
So a failure is a lesson tolearn, so some people say you
know, I think it's a win-winexactly.
You know what I'm saying?
Yeah, okay.
Speaker 1 (11:43):
So let me give you some examples of that.
So let's talk about oprah,right, okay, okay, so oprah
encountered some pushback backin 2011 after launching her own
uh television network.
She launched her own you know,owned owen oprah winfrey network
.
She launched on and in 2011,she received some pushback from
(12:04):
it.
She did not have high ratingsat all, and this is oprah
winfrey.
She didn't have high ratings atall, but she decided, hey, I'm
going to persevere.
I'm going to continue,regardless of what everybody
else says.
I'm going to.
I'm going to persevere.
I'm going to continue,regardless of what everybody
else says.
I'm going to.
I'm going to do what I said setout to do.
Okay, she revamped the entirecompany and grew her ratings
(12:25):
like revamped every everything.
So the failure that she was wasreaching, which was low
television ratings, which meansyou don't need it.
You don't need a networkbecause people aren't wanting to
watch you.
She said, okay, that is afailure, don't get me wrong.
That is is not a good thing,but maybe there's something that
I'm doing internally that isnot boosting my ratings and she
(12:47):
revamped everything, so thatmeans she's went back she.
Speaker 2 (12:51):
She did more research and she implemented some things
that maybe her audience wasliking and also to draw a new
audience.
Speaker 1 (13:00):
Exactly.
And so she didn't.
She didn't view the low ratingsas something that was going to
end her career or in somethingthat she wanted to do.
No, she thought about it as hey, let me redirect, let me figure
out what they actually want tosee and let me put something out
that they will be proud of andthat I'm proud of.
And so one of the quotes thatshe is quoted saying is there is
no such thing as failure.
(13:20):
Failure is just trying to moveus in another direction.
And essentially that's whathappened.
She was in point A, realizedpoint A was not working out, she
pivoted to point B and look atwhere she is now.
Another someone else who isgoing to be important To kind of
Shift in that perspective isgoing to be Steve Jobs.
(13:41):
Everybody knows Steve Jobs.
He invented Apple, right, butguess what?
His own company Fired him.
He was fired from his owncompany.
That he created back in 1985.
He got back on board In 1997right.
Then he came back with newinnovative ideas.
He created the iPod, which wentcrazy.
(14:04):
Then, of course, later oninvented the iPhone that we most
people use today right.
And so he is quoted by sayingsometimes, when you innovate,
you can make mistakes.
It is best to admit themquickly and get on with
improving your other innovations, and that is what's important
as an entrepreneur.
You're an entrepreneur becauseyou set out to make a change or
(14:25):
a difference in something thatyou've seen.
For us, we got the diagnosis ofdementia and it was like, OK,
go figure it out.
We were like, OK, why we got tofigure out?
Speaker 2 (14:34):
somebody supposed to help us figure this stuff out.
We had to figure it out.
Speaker 1 (14:37):
We had to figure it out.
Speaker 2 (14:38):
And then some people, some people destiny and success
is in their what's the word.
What's the word?
Speaker 1 (14:46):
Determination.
Speaker 2 (14:47):
No, in their pain.
Speaker 1 (14:49):
Oh yeah.
Speaker 2 (14:50):
Or in their life obstacle.
Speaker 1 (14:51):
Yeah.
Speaker 2 (14:52):
So don't overlook.
Yeah, those hard times, thoselessons, those obstacles that
come up in your life, becauseyour pain that come from it can
be your destiny.
Speaker 1 (15:06):
Exactly, and that is how that's my preacher.
You preach it, but that's howwe got here today.
That's that's exactly what I'mtrying to say.
Like you're, you're in thebusiness of fixing someone's
pain point.
That's why you have yourbusiness, so you can't just
decide when it gets hard.
I'm not going to do thisbecause guess what?
(15:26):
There's so many peopledepending on you to keep this
going, the people that you setout to help in the beginning.
But now you probably employedsome people.
They need you.
You probably have clients.
Speaker 2 (15:36):
They for sure need you and somebody needs to hear
your story.
Speaker 1 (15:39):
Exactly.
You have to kind of like, bethe springboard for the next
entrepreneur.
You have to set the tone so wecan continue to evolve as an
(16:08):
economy.
Wow, you know, okay, I likethat.
Adaptability and continuouslearning.
Like you can't go into asituation thinking, oh, I know
what I'm doing, I know how I'mdoing this and expect for it to
always be right.
There's no way.
Speaker 2 (16:25):
You have to go on into the next thing.
Yeah, change your mindset.
Speaker 1 (16:30):
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Speaker 2 (17:03):
And for a free consultation, give us a call.
Speaker 1 (17:05):
Yes, sir.
Speaker 2 (17:06):
All right, the mindset is very important.
Your mindset, if you're notwilling to change it and look at
it from outside of your ownbubble.
Speaker 1 (17:19):
Right.
Speaker 2 (17:19):
Can keep you locked in.
Speaker 1 (17:21):
Right.
Speaker 2 (17:22):
So your mindset can cause that fear, can cause those
doubts, can make you thinkyou're not good enough, can also
make you think you don't havethe right product.
Speaker 1 (17:33):
Right, right.
Speaker 2 (17:34):
Right, or whatever that is you may be doing.
Changing your mindset iscrucial, understanding that it's
going to be ups and downs, it'sgoing to be storms right, it's
going to be some wins.
It's going to be things that'sgoing to make you feel like, hey
, why am I doing this?
Speaker 1 (17:54):
Yeah.
Speaker 2 (17:55):
Why do I need to get up and take this?
I can be doing something, buthaving a strong mindset, a
strong belief in what you'redoing, who you're serving, all
your product that you areselling, is a big key.
Speaker 1 (18:11):
Yeah, and the big word that you said there was
change.
You have to be willing.
You have to be willing tochange, change your mindset,
change your situation, beresilient, adapt to whatever
circumstances come to you.
You have to be willing tolisten.
You talked about continuouslearning.
So we've been in business eightyears now.
Right, we just left aconference last week where we
(18:36):
were learning how to continue togrow our business but also to
continue to give that samequality of care.
And so we decided, hey, anytimewe come back from these and
we've been to about what fournow and so it's a continuous
thing we're like we're not goodenough.
We're never good enough, wealways can be better.
And this time we decided, hey,hey, let's bring the staff right
(18:56):
so the staff for eight yearshave heard us say xyz, we're
gonna do this, we're gonna dothis we come back from the, from
the on fire hey yes, that'swhat we're gonna do.
Speaker 2 (19:07):
Let's do this and they looking at us like what are
you, what you doing?
Speaker 1 (19:10):
on right, you know we took them to the conference,
right?
We now come back from theconference and they're like I
understand.
Speaker 2 (19:20):
They on fire.
Speaker 1 (19:21):
The pieces of the puzzle are all here.
Everything's connected.
It's just a different level of.
It's just a different level oflet's do this, Like let's, let's
change the world, Like that's.
That's, that's how we'rethinking, but that's because
they're also.
We also have people around uswho can change mindset, adapt,
continue to learn and want togrow and want to be the best
(19:43):
versions of themselves.
Speaker 2 (19:45):
Continue to learn so you can teach.
Speaker 1 (19:47):
Yeah.
Speaker 2 (19:48):
Your testimony will help you preach.
Speaker 1 (19:52):
Yeah, okay.
Speaker 2 (19:52):
Let me stop.
Speaker 1 (19:53):
No, I mean, keep going, because you I mean you
hit it on the head Like, really,as entrepreneurs, we have to
start seeing challenges asopportunities rather than
obstacles, like I think that wasone of the big things that you
helped me see.
Mind you, I'm like 20 plusyears younger than you, right,
right, and so you're, my father,owning a business, and when we
(20:15):
came in, I'm looking at thingsone note I'm like no, we can't
do this.
We can't do this.
This does not make sense.
I don't have the manpower forthis I can't listen.
Speaker 2 (20:26):
At that time we probably had no business.
I would have let her because itwas I was.
Speaker 1 (20:30):
One note he literally sat me down with a whiteboard.
Again, you're talking about theleader of the company, his own
daughter, sitting me down andbeing like hey, think about it.
Like this.
He wrote it and it's bringingtears to my eyes because it
really talks to the level ofbeing able to adapt and you're
teaching me and you're learningas we go too.
Speaker 2 (20:51):
You know what I mean.
Speaker 1 (20:52):
And so he's like hey, look at it like this, got the
whiteboard out, start puttingstuff together.
You're so right, this does nothave to be a challenge for me, I
just have to think about itdifferently.
And so because we solveproblems we're problem solvers,
that's, that's essentially ourjob as entrepreneurs to solve
(21:13):
problems and to make it an easytransition.
I don't need no tissues, I'm OK.
I'm OK, but it's just.
It's just to the testament oflike who you are and what we do.
Right, we're talking about thatnow.
Speaker 2 (21:26):
So I just love it.
Well, thank you you're welcome.
You're welcome good night, allright okay, okay, so let's go so
we talked about mindset shifts.
Fix your mindset right rightlet's talk about preparation and
risk management.
Tell me a little bit about thatokay.
Speaker 1 (21:43):
So when we're going into talking about preparation
and risk management, essentiallyas an, you have to prepare for
different situations, but alsoyou do have to think about the
risk that you're going to betaking as an entrepreneur, like
you have to manage those risksin a kind of consolidated
situation.
So you know, okay, this isprobably where Phil, you can
(22:04):
enter, but I am consolidating inthis package.
That looks pretty and I knowwhat the outcome could
essentially be.
Speaker 2 (22:10):
Yes, I think some people, when they start their
business and they do whatevertype of risk management that
they do, I think once they startto analyze the risk and see and
learn where the future pitfallscan be, I think that's enough
(22:30):
to make them say hold on.
Speaker 1 (22:33):
But this is why preparation is key, because you
have to prepare for that.
So the first thing you want todo is start small.
You have to start testing ideasbefore you just go all into a
situation, especially if youhaven't started the business yet
and you're thinking about itand you're like, hey, I kind of
(22:53):
really want to do this.
Start small, test differentideas first.
You want to I don't know starta doggy daycare, that's cool.
Well, because my sister-in-law,if you're hearing this, this is
specifically for you.
Okay, if you want to start adoggy daycare, okay.
The first thing you you want tothink about is I need somewhere
(23:16):
to house them.
I can't go and just be likecome all the dogs, bring all the
dogs to me.
I have nowhere to house thedogs for the daycare right you
know.
So you have to start small.
Let's's start looking atcommercial properties.
Let's start figuring out youknow what are my work hours,
what are those timeframes.
You want to start small in thatway to try to make sure that I
(23:36):
am testing everything to makesure it's, you know, can work
effectively and efficiently.
Speaker 2 (23:40):
And also with that you want to build a financial
safety net.
Speaker 1 (23:43):
Exactly.
Speaker 2 (23:46):
Whether that's understanding what you're doing
saving money for that somepeople get a loan yeah some
people do, uh, other things.
We will go more deep into thatpart at on a later podcast,
because we're going to breakdown this information for y'all
right.
Speaker 1 (23:59):
Also having a support system right a mentor coach,
listen community listen, Ilisten.
Speaker 2 (24:07):
Quick story I had.
It was on a friday.
I was going to see, uh, my boy,uh uh, mark drake, and that
saturday I was going to say, hey, listen, I had another meeting,
but I was going to hit thefloor running.
Yeah, I had my flies printedand everything.
Hey, this is what I'm gonna do.
Mark, speaking with him, hegave me some advice, right, and
(24:30):
I didn't know nothing about thatadvice.
He gave me a little, sometidbits of how you, how your
business form and this, and that.
Yeah, I'm like, okay, cool,that's cool.
All right, I'm gonna look intothat.
But I told him that Fridaynight I was like, listen, I'm
gonna speak to somebody elseSaturday morning and if he
didn't say something that I wantto hear or what I need to hear,
(24:51):
I'm going to put flies.
Speaker 1 (24:53):
You going all in?
I was going all in, okay.
Speaker 2 (24:56):
So Saturday morning came and shout out to Monty he's
a business consultant, he's agreat guy and he gave me the
tools I needed.
He mentored me.
He said okay, if you're gonnado this, you need to go do, do,
boom.
What about the state?
Do, do, do, do.
(25:17):
And for probably a month or two, every Saturday he sat with me
to make sure I was doing what Ineeded to do to start the
business right on solid groundto move forward.
So him again, shout out toMonty.
I call him OG Monty.
I appreciate you, sir.
Him taking time out of his fromhis family his weekend to spend
(25:42):
with me helped me and Iappreciate that.
So mentors are great.
Even we went to this conferenceyeah.
We have coaches and stuff tohelp us in this specific
business in home care.
So, man, it's a must have.
Speaker 1 (25:57):
It's important.
It's important to learn frompeople who are doing it on a day
to day basis and at a higherlevel.
Speaker 2 (26:01):
And at a higher level .
You know I can, if they what?
And at a higher level, and at ahigher level.
Speaker 1 (26:04):
You know I can, if they what was the saying?
If you're the smartest personin the room, find another room.
Yes, like that.
That's essentially it.
You know you want to be aroundpeople who are, you know, making
a difference, making a, youknow, a positive difference, and
people who are wanting to grow,just like you, and doing the
same thing that you're doing.
Because you can, you can addthose same kind of uh techniques
(26:25):
and different things thatthey're using to your business
to help you grow as well.
And then it's like a mastermindlike you're.
You're talking to differentpeople, you're getting their
input, but they're doing thesame thing.
So you're, you've either beenthere or you're going to be
there, and that's the.
That's the thing you guys cankind of piggyback off each other
, um.
But I also think that it'simportant that you build
confidence as an entrepreneur.
(26:47):
Again, you don't go into itknowing everything you need to
know, uh, you don't go into itknowing all the policies and the
state rules and all thequalifications.
So it's important that youbuild confidence, and the first
way you can do that is bysetting realistic, um and
measurable goals.
I know we all heard of smart,smart goals, s-m-a-r-t goals,
(27:07):
realistic and measurable goals.
Hey, if you want to start yourbusiness and you know that I
don't have the capital but Ialso need to secure that
commercial real estate space, ok, well, maybe I need to start
not 2025, january 2025, maybeJanuary 2026.
And I can put in littlemeasurable goals that I need to
hit this by quarter one and thisby quarter two.
(27:28):
You know so little things likethat to help you build your
confidence as an entrepreneurbecause once you start to see it
all just unfold and lay out,you're like I know I can do this
right.
Speaker 2 (27:38):
And once you reach those small goals right,
celebrate those wins oh yeahcelebrated yeah acknowledge, do
something to acknowledge that,hey, I got to this point.
Be thankful, be appreciativeyeah and and celebrate that, hey
, I reached this goal.
Yeah, I put it down on paper I,I, I, I set realistic outcomes
(28:03):
to help meet this goal and Ireached it.
Celebrate those small wins andshout out to leah for that one
yeah, see, coach leah yes she.
Speaker 1 (28:12):
The one thing we don't do is celebrate wins.
We just keep going and we'relike great and we just keep
going.
But it's important to do thatbecause, again, it does build
your confidence and let you know, hey, I can do it.
But also you have to learn frommistakes instead of dwelling on
them.
Right, like I don't know, wecan be hit with a million things
in a day.
We're like, oh, okay, and I'mlike, okay, I know what I need
to do and I just got to make thecorrection and you just got to
(28:33):
keep going.
Speaker 2 (28:35):
When things come, you have to really get into problem
solving mode.
All right, how do we solve thisproblem?
And then, once you solve theproblem, how do we make sure?
Is it somewhere in ouroperations that we fail for this
problem to come up?
Speaker 1 (28:49):
So you have to set operational goals as well, right
, and once you fix that problem,learn from it and keep moving.
And then I would say one of thelast things you want to do is
really develop a routine ofreflection and then improvement
One of the good things that Iknow you taught me.
In the beginning I would belike, well, why I did, why I did
(29:11):
why?
And you were like, well, listen, it's, it's happened.
So what are we going to do andhow can we not make this mistake
again?
Speaker 2 (29:19):
you know what I mean.
In other words, a lot of us,even including me, we get
emotional.
Yeah, right, and then we try tomake the decisions on emotions.
So what you would want to do isto say, hey, listen, ain't no
need to keep talking about itand being mad about it.
Speaker 1 (29:35):
Yeah.
Speaker 2 (29:35):
Ain't no need, ain't no need to sit and dwell in it.
Find out what that problem is,fix the problem and move past it
and try to make sure it don'thappen again.
Speaker 1 (29:45):
Right, that's the best right, because as long as
you stay emotional or staydwelling in it, you ain't moving
.
You ain't moving, you'restagnant, you're stuck and you
cannot adapt and redirectyourself when there is time for
change.
And so I guess, just as torecap a little bit about what we
talked about today, I reallyjust want to make sure that you
(30:08):
guys understand we have toreframe our mind from what we
know about failure.
We have to think, shiftperspective.
Failure is not the end.
Failure is feedback for growth.
It also means that we have tochange our mindset from a fixed
mindset to a growth mindset.
We have to think about hey,this may be where I am, but I am
(30:31):
going to a different level andso I need to change my mindset.
I also have to see challengesas opportunities, and not
obstacles.
I have to say, hey, this is achallenge, a roadblock in my way
, but I can get past this with X, y and Z.
And then now, because I wentthrough that roadblock, let me
(30:53):
not have that roadblock happenagain and I can do X, y and Z.
It's also important to prepareand do some risk management.
So make sure that you startsmall.
You test all of your ideas.
First, you build like afinancial safety net.
You also get a support systemfamily friends coach mentors,
whomever is in your circle thatcan help you, has started
businesses before, has been inthis type of level before.
Seek some help, seek someguidance, but also set realistic
(31:18):
and measurable goals.
As you go forward with yourcoaches and mentors they should
be helping you say hey, thiscould be a good trajectory, this
is what you could possibly do,but also you have to continue to
celebrate those small wins.
Make sure that you're puttingyourself first as well as you
continue to try to scale thisbusiness that you're doing.
Um, but make sure you celebratethe small wins.
(31:39):
Continue to just have fun withwhat you're doing, because if
you're not having fun, then it's.
It doesn't matter at the end ofthe day if you're not enjoying
what you're doing, because ifyou're not having fun, then it's
.
It doesn't matter at the end ofthe day, if you're not enjoying
what you're doing, you can'tserve people clearly,
incorrectly, uh.
So that's super important.
But you also have to knowfailure is not the end.
Your destiny surpasses all ofthat and you have to remember
(31:59):
that you can keep going and youcan do it just like all of us
today and, like you said,failure is to build character
for you to succeed right.
So I hope that this hasencouraged you.
If you have a small businessthat you want to start, you've
been thinking about starting doit.
(32:21):
Do it, listen to the podcast,reach out to us.
Whatever you want to do, we'rehere to help and support.
But just remember start smalland failure is going to happen,
but we can overcome it and thenthat is all for the journey of
podcast today.
Thank y'all so much.
See y'all later.
Y'all have a blessed day you.
Hello everyone and welcome back to the Journey Out
podcast.
Today, we will be talking aboutovercoming fears as an
entrepreneur, so let's get rightinto it.
What is home care?
How do I navigate health care?
Speaker 2 (00:13):
What do I do when I feel down and depressed?
I'm stressed.
Am I enough?
Speaker 1 (00:17):
What can I do?
What is this going to cost?
So let's get into a little bitabout talking about how to
overcome fears as anentrepreneur and we're
entrepreneurs.
So we have been there, We'vedone that.
But I kind of want you to kindof go over for me why does fear
of failure hold so many peopleback?
Speaker 2 (00:39):
Wow, that's a good question.
I think nobody wants to failright.
Fear is really coming from theunknown.
You step out there, you start abusiness, but you don't have
the steps, you really don't havethe blueprint to make your
business succeed.
So the fear of failure is justhey, I don't know what's going
(01:03):
to happen.
I don't know what that's tohappen, right, I don't know what
that's going to look like.
I don't know if I'm going torebound.
But failure builds characterfor you to succeed in the future
.
Speaker 1 (01:18):
Right, right and honestly, you want to view as an
entrepreneur, you want to viewfailure as a stepping stone for
success, because if you don'tfail, you will likely just stay
the course, like you would justcontinue to do every day what
you thought worked every day.
And if you didn't find out thatit didn't work or it didn't
help people or it didn'tessentially do what your mission
(01:41):
is said to do, then you willjust keep doing what's not
important and it's not, it's notvaluing anybody in business or
in life.
Speaker 2 (01:53):
Right, obstacles going to come right through your
journey.
Obstacles going to come, butthose obstacles or those
failures or those situations arelearning lessons, right, right,
and that makes you better as aperson, right, if you learn from
.
Speaker 1 (02:12):
Right.
Speaker 2 (02:12):
Right, so now?
Hey, now I know how to navigatethrough this situation.
Right, this situation come upagain, or something similar.
I'm going to do somethingdifferent because I've learned
from the last.
Speaker 1 (02:23):
Right, and so let's talk about some common fears
that most entrepreneurs have.
Speaker 2 (02:28):
Well, let me ask you this Okay, go ahead.
How can entrepreneurs usefailure as a stepping stone?
Speaker 1 (02:36):
Well, I would say, essentially just being able to
redirect.
I think it's super importantfor entrepreneurs not to be kind
of stagnant or wanting to stayin one place or wanting to stay
in your comfort zone.
What failure tends to do ispush you in a completely
(02:56):
opposite direction, but withoutthat direction you can't grow.
You're kind of just stuck atthis plateau and you you know,
with failure it comes success,comes redirection, which leads
to different opportunities foryou to grow as an entrepreneur.
Speaker 2 (03:13):
So I would say that OK, so do me a favor right now.
Define failure in theentrepreneur journey in the
entrepreneur journey.
Speaker 1 (03:26):
Okay, so there's quite a few.
Obviously, one of the big onesis financial loss.
Everybody knows that if you'rean entrepreneur, you're going
into it with the mindset of Ihave to make my own money, right
.
And so one of the big thingsthat you're going to think about
is can I sustain this?
Am I going to be able to makeprofit?
What if something happens andthere's another coronavirus or
something you know pandemic andall these things that pop up?
(03:47):
Can I sustain through that?
What happens if I lose money?
Uh, another one is like publicembarrassment.
Um, so many people go throughdifferent things.
I mean, there's we've seen alot of, um, entrepreneurs that
are now put on blast for, youknow, doing things illegally or
just doing just weird things,and so, uh, public embarrassment
(04:09):
is always going to be one ofthose things of of, if people
don't agree with me.
You know, council culture is soreal these days.
If people don't agree with whatI'm saying, if people don't
agree with what I'm doing, thereis a potential for us to be,
you know, publicly for formaking decisions.
Speaker 2 (04:28):
Yeah, that you think is good for the business, but
also so what about you also havelet down family and friends?
Right because those people lookup to you first of all, right,
and those people are the reasonwhy you'll get in the business
or do.
Your journey is to support yourfamily right, and so you can
feel a little let down in doingthat.
Speaker 1 (04:49):
I mean, and you think about it, if you think about
first-time entrepreneurs likeourselves, we're the first ones
really in our family to say, hey, let's do something, let's
start something for othersbecause we went through
something.
We're the real firstentrepreneurs that can help hold
a lot of weight for some people.
(05:10):
And so a lot of people do lookat you like, hey, you got to
hold us up because you decidedyou wanted to do this and it's
going great now, but can yousustain, right?
Speaker 2 (05:19):
and yeah, and then that.
Then that brings in self-doubtand imposter syndrome.
So one big thing for me right,we're the biggest critics of
ourselves, right, we giveourselves the hard time we
criticize ourselves harder thanprobably anybody, which creates
self-doubt in our abilities todo things.
(05:40):
So then you add the impostersyndrome to it.
So now me, that means, hey, I'mcoming into a area of business.
I really have no experiencethen, right, but I'm trying to
imposter or do what other peopleare doing yeah, yeah, yeah and
that to me wasn't working it's.
Speaker 1 (06:02):
It's just one of those things like we, like you,
say we're our biggest critics,we don't feel like we're ever
prepared enough for where we areand where we're going.
Like we don't we don't everfeel like we're prepared enough.
When we, when you started pc,it was because granny was going
through what she was goingthrough and you was like, hey, I
need to be a resource for otherfamilies who went through this.
Okay, well, there's a, there'smore to business than just when,
(06:26):
like, I want to help people, so, so so listen, so listen.
Speaker 2 (06:29):
Even with that, what happened was okay.
Yes, I want to help people,yeah so the only thing I knew is
I want to.
I knew the adl part of it right.
I knew I wanted to assistpeople with bathing, grooming
the easiest.
We know that but once I startedlooking into it and going
through the state, oh man, Ihave to have agreements I have
to have this policy.
(06:50):
I'm like I didn't sign up forthis like it's.
Speaker 1 (06:53):
It's such a different thing.
And then also too, I don't knowabout like for you, but as far
as far as me, in school I didn'tlearn about entrepreneurship or
business, and then I didn't goto college for that.
I went and got a trade.
I became a medical assistant.
They weren't teaching us anybusiness or anything like that,
so it's all a learning curve so,yes, so eventually.
Speaker 2 (07:17):
For us and our demographics, usually sometime
the college or the schooling isthe hard knock life of jumping
in right, first right, and I'mgonna go back to this imposter
syndrome right I like to wear agood suit, I like to dress up,
you know I like to look good andsmooth.
But jumping into a networkingenvironment or a business
(07:37):
environment, that wasn't me thatyeah I was.
I like jogging pants and J's.
And once I said hey, let metake my identity back.
Some people like it, somepeople don't, but it worked for
me.
Speaker 1 (07:53):
And I think that's the beauty of entrepreneurship,
because it's not aone-size-fits-all.
Again, with the impostersyndrome, you can't please
everybody and you're not goingto be able to make everybody
happy, you're not going to fitinto every crowd.
It's not going to be that way.
I think, at the end of the day,as an entrepreneur, what you
(08:14):
have to wake up and do and sayhey one, I'm putting my faith
first.
First, if you believe I'mserving others.
Speaker 2 (08:20):
Second, and then the next thing I'm going to do is
make sure that I'm being myselfwholeheartedly in every
situation, because once youbecome yourself, or you find
yourself.
Like I always say uh, failures,build character right for you
succeed.
And, honestly, uh, as you gothrough your journey on whatever
that is, guess what thatcharacter is going to peel back
(08:41):
the layers right that you didn'teven know you had exactly to
make you be that person that youwere called to be.
Speaker 1 (08:47):
I mean, if every, if there's a bunch of breeze out
there, it.
The reason for entrepreneurshipis for you to be the antoine.
You know it's.
You have to be different, youhave to be yourself.
You can't, you can't just giveit to people cookie cutter and
it's not going to always workthat way.
People like, like authenticity,and when you bring that, that
sets sets the tone.
But kind of share somestatistics for me or some
(09:10):
research about just failure andentrepreneurship and kind of how
they really do go hand in handokay.
Speaker 2 (09:17):
so according to the us bureau of labor statistics,
around 20 of new businesses fellwithin the first year.
That's crazy, okay.
50% fail within five years.
Speaker 1 (09:30):
Okay.
Speaker 2 (09:31):
And then 65% fail within 10 years.
I thought that the longer thatyou have your business, the
greater it is to succeed Right,which in some cases and it can
be- yeah but they say 65 percentof businesses fail within the
first 10 years.
Not only you got to get backpast the first year, that's 20
(09:54):
percent of business failure, 50percent failing within five
years and then 65 percent in 10years.
Speaker 1 (10:00):
That's, that's so wow , that's a uh, just an alarming
statistic and, like you said,you don't think about that
because you're thinking, oh, ifthere's longevity, you're
obviously doing okay.
But sometimes that's not alwaysthe case, because the one thing
about being an entrepreneur andabout the longevity of
(10:21):
businesses they change.
That's why failure comes intoplay.
Things change, things happen,things evolve and sometimes you
can evolve in a direction thatis not good for growth, not good
for business, not good for youknow keeping people on board
with you.
And then sometimes you can growand have that longevity and
you're moving in a directionthat is positive, you know for,
(10:43):
for, for the trajectory of yourbusiness.
So it just really all depends.
Speaker 2 (10:48):
um, yeah, oh, okay, so let's go here.
Okay, so let's go, let'sreframe, let's reframing.
Excuse me, failure as learningtool okay reframing failure as
learning tool.
Speaker 1 (11:02):
Okay.
Speaker 2 (11:03):
Tell me something.
Speaker 1 (11:04):
So I think we have to shift our perspective on
failure.
Of course, failure is notsomething that you know we want
to happen, but it is, it's justbound to, it's just one of those
things.
So we have to uh shift ourperspective and understand that
failure is not, uh, the end, butit is feedback for growth.
(11:24):
Again, like we were talkingabout talking about earlier.
It does redirect you and getyou to a certain level that you
weren't at previously.
If everything was all good, youwould change nothing right.
Speaker 2 (11:34):
So you know so.
So a failure is a lesson tolearn, so some people say you
know, I think it's a win-winexactly.
You know what I'm saying?
Yeah, okay.
Speaker 1 (11:43):
So let me give you some examples of that.
So let's talk about oprah,right, okay, okay, so oprah
encountered some pushback backin 2011 after launching her own
uh television network.
She launched her own you know,owned owen oprah winfrey network
.
She launched on and in 2011,she received some pushback from
(12:04):
it.
She did not have high ratingsat all, and this is oprah
winfrey.
She didn't have high ratings atall, but she decided, hey, I'm
going to persevere.
I'm going to continue,regardless of what everybody
else says.
I'm going to.
I'm going to persevere.
I'm going to continue,regardless of what everybody
else says.
I'm going to.
I'm going to do what I said setout to do.
Okay, she revamped the entirecompany and grew her ratings
(12:25):
like revamped every everything.
So the failure that she was wasreaching, which was low
television ratings, which meansyou don't need it.
You don't need a networkbecause people aren't wanting to
watch you.
She said, okay, that is afailure, don't get me wrong.
That is is not a good thing,but maybe there's something that
I'm doing internally that isnot boosting my ratings and she
(12:47):
revamped everything, so thatmeans she's went back she.
Speaker 2 (12:51):
She did more research and she implemented some things
that maybe her audience wasliking and also to draw a new
audience.
Speaker 1 (13:00):
Exactly.
And so she didn't.
She didn't view the low ratingsas something that was going to
end her career or in somethingthat she wanted to do.
No, she thought about it as hey, let me redirect, let me figure
out what they actually want tosee and let me put something out
that they will be proud of andthat I'm proud of.
And so one of the quotes thatshe is quoted saying is there is
no such thing as failure.
(13:20):
Failure is just trying to moveus in another direction.
And essentially that's whathappened.
She was in point A, realizedpoint A was not working out, she
pivoted to point B and look atwhere she is now.
Another someone else who isgoing to be important To kind of
Shift in that perspective isgoing to be Steve Jobs.
(13:41):
Everybody knows Steve Jobs.
He invented Apple, right, butguess what?
His own company Fired him.
He was fired from his owncompany.
That he created back in 1985.
He got back on board In 1997right.
Then he came back with newinnovative ideas.
He created the iPod, which wentcrazy.
(14:04):
Then, of course, later oninvented the iPhone that we most
people use today right.
And so he is quoted by sayingsometimes, when you innovate,
you can make mistakes.
It is best to admit themquickly and get on with
improving your other innovations, and that is what's important
as an entrepreneur.
You're an entrepreneur becauseyou set out to make a change or
(14:25):
a difference in something thatyou've seen.
For us, we got the diagnosis ofdementia and it was like, OK,
go figure it out.
We were like, OK, why we got tofigure out?
Speaker 2 (14:34):
somebody supposed to help us figure this stuff out.
We had to figure it out.
Speaker 1 (14:37):
We had to figure it out.
Speaker 2 (14:38):
And then some people, some people destiny and success
is in their what's the word.
What's the word?
Speaker 1 (14:46):
Determination.
Speaker 2 (14:47):
No, in their pain.
Speaker 1 (14:49):
Oh yeah.
Speaker 2 (14:50):
Or in their life obstacle.
Speaker 1 (14:51):
Yeah.
Speaker 2 (14:52):
So don't overlook.
Yeah, those hard times, thoselessons, those obstacles that
come up in your life, becauseyour pain that come from it can
be your destiny.
Speaker 1 (15:06):
Exactly, and that is how that's my preacher.
You preach it, but that's howwe got here today.
That's that's exactly what I'mtrying to say.
Like you're, you're in thebusiness of fixing someone's
pain point.
That's why you have yourbusiness, so you can't just
decide when it gets hard.
I'm not going to do thisbecause guess what?
(15:26):
There's so many peopledepending on you to keep this
going, the people that you setout to help in the beginning.
But now you probably employedsome people.
They need you.
You probably have clients.
Speaker 2 (15:36):
They for sure need you and somebody needs to hear
your story.
Speaker 1 (15:39):
Exactly.
You have to kind of like, bethe springboard for the next
entrepreneur.
You have to set the tone so wecan continue to evolve as an
(16:08):
economy.
Wow, you know, okay, I likethat.
Adaptability and continuouslearning.
Like you can't go into asituation thinking, oh, I know
what I'm doing, I know how I'mdoing this and expect for it to
always be right.
There's no way.
Speaker 2 (16:25):
You have to go on into the next thing.
Yeah, change your mindset.
Speaker 1 (16:30):
Come on.
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(16:52):
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Speaker 2 (17:03):
And for a free consultation, give us a call.
Speaker 1 (17:05):
Yes, sir.
Speaker 2 (17:06):
All right, the mindset is very important.
Your mindset, if you're notwilling to change it and look at
it from outside of your ownbubble.
Speaker 1 (17:19):
Right.
Speaker 2 (17:19):
Can keep you locked in.
Speaker 1 (17:21):
Right.
Speaker 2 (17:22):
So your mindset can cause that fear, can cause those
doubts, can make you thinkyou're not good enough, can also
make you think you don't havethe right product.
Speaker 1 (17:33):
Right, right.
Speaker 2 (17:34):
Right, or whatever that is you may be doing.
Changing your mindset iscrucial, understanding that it's
going to be ups and downs, it'sgoing to be storms right, it's
going to be some wins.
It's going to be things that'sgoing to make you feel like, hey
, why am I doing this?
Speaker 1 (17:54):
Yeah.
Speaker 2 (17:55):
Why do I need to get up and take this?
I can be doing something, buthaving a strong mindset, a
strong belief in what you'redoing, who you're serving, all
your product that you areselling, is a big key.
Speaker 1 (18:11):
Yeah, and the big word that you said there was
change.
You have to be willing.
You have to be willing tochange, change your mindset,
change your situation, beresilient, adapt to whatever
circumstances come to you.
You have to be willing tolisten.
You talked about continuouslearning.
So we've been in business eightyears now.
Right, we just left aconference last week where we
(18:36):
were learning how to continue togrow our business but also to
continue to give that samequality of care.
And so we decided, hey, anytimewe come back from these and
we've been to about what fournow and so it's a continuous
thing we're like we're not goodenough.
We're never good enough, wealways can be better.
And this time we decided, hey,hey, let's bring the staff right
(18:56):
so the staff for eight yearshave heard us say xyz, we're
gonna do this, we're gonna dothis we come back from the, from
the on fire hey yes, that'swhat we're gonna do.
Speaker 2 (19:07):
Let's do this and they looking at us like what are
you, what you doing?
Speaker 1 (19:10):
on right, you know we took them to the conference,
right?
We now come back from theconference and they're like I
understand.
Speaker 2 (19:20):
They on fire.
Speaker 1 (19:21):
The pieces of the puzzle are all here.
Everything's connected.
It's just a different level of.
It's just a different level oflet's do this, Like let's, let's
change the world, Like that's.
That's, that's how we'rethinking, but that's because
they're also.
We also have people around uswho can change mindset, adapt,
continue to learn and want togrow and want to be the best
(19:43):
versions of themselves.
Speaker 2 (19:45):
Continue to learn so you can teach.
Speaker 1 (19:47):
Yeah.
Speaker 2 (19:48):
Your testimony will help you preach.
Speaker 1 (19:52):
Yeah, okay.
Speaker 2 (19:52):
Let me stop.
Speaker 1 (19:53):
No, I mean, keep going, because you I mean you
hit it on the head Like, really,as entrepreneurs, we have to
start seeing challenges asopportunities rather than
obstacles, like I think that wasone of the big things that you
helped me see.
Mind you, I'm like 20 plusyears younger than you, right,
right, and so you're, my father,owning a business, and when we
(20:15):
came in, I'm looking at thingsone note I'm like no, we can't
do this.
We can't do this.
This does not make sense.
I don't have the manpower forthis I can't listen.
Speaker 2 (20:26):
At that time we probably had no business.
I would have let her because itwas I was.
Speaker 1 (20:30):
One note he literally sat me down with a whiteboard.
Again, you're talking about theleader of the company, his own
daughter, sitting me down andbeing like hey, think about it.
Like this.
He wrote it and it's bringingtears to my eyes because it
really talks to the level ofbeing able to adapt and you're
teaching me and you're learningas we go too.
Speaker 2 (20:51):
You know what I mean.
Speaker 1 (20:52):
And so he's like hey, look at it like this, got the
whiteboard out, start puttingstuff together.
You're so right, this does nothave to be a challenge for me, I
just have to think about itdifferently.
And so because we solveproblems we're problem solvers,
that's, that's essentially ourjob as entrepreneurs to solve
(21:13):
problems and to make it an easytransition.
I don't need no tissues, I'm OK.
I'm OK, but it's just.
It's just to the testament oflike who you are and what we do.
Right, we're talking about thatnow.
Speaker 2 (21:26):
So I just love it.
Well, thank you you're welcome.
You're welcome good night, allright okay, okay, so let's go so
we talked about mindset shifts.
Fix your mindset right rightlet's talk about preparation and
risk management.
Tell me a little bit about thatokay.
Speaker 1 (21:43):
So when we're going into talking about preparation
and risk management, essentiallyas an, you have to prepare for
different situations, but alsoyou do have to think about the
risk that you're going to betaking as an entrepreneur, like
you have to manage those risksin a kind of consolidated
situation.
So you know, okay, this isprobably where Phil, you can
(22:04):
enter, but I am consolidating inthis package.
That looks pretty and I knowwhat the outcome could
essentially be.
Speaker 2 (22:10):
Yes, I think some people, when they start their
business and they do whatevertype of risk management that
they do, I think once they startto analyze the risk and see and
learn where the future pitfallscan be, I think that's enough
(22:30):
to make them say hold on.
Speaker 1 (22:33):
But this is why preparation is key, because you
have to prepare for that.
So the first thing you want todo is start small.
You have to start testing ideasbefore you just go all into a
situation, especially if youhaven't started the business yet
and you're thinking about itand you're like, hey, I kind of
(22:53):
really want to do this.
Start small, test differentideas first.
You want to I don't know starta doggy daycare, that's cool.
Well, because my sister-in-law,if you're hearing this, this is
specifically for you.
Okay, if you want to start adoggy daycare, okay.
The first thing you you want tothink about is I need somewhere
(23:16):
to house them.
I can't go and just be likecome all the dogs, bring all the
dogs to me.
I have nowhere to house thedogs for the daycare right you
know.
So you have to start small.
Let's's start looking atcommercial properties.
Let's start figuring out youknow what are my work hours,
what are those timeframes.
You want to start small in thatway to try to make sure that I
(23:36):
am testing everything to makesure it's, you know, can work
effectively and efficiently.
Speaker 2 (23:40):
And also with that you want to build a financial
safety net.
Speaker 1 (23:43):
Exactly.
Speaker 2 (23:46):
Whether that's understanding what you're doing
saving money for that somepeople get a loan yeah some
people do, uh, other things.
We will go more deep into thatpart at on a later podcast,
because we're going to breakdown this information for y'all
right.
Speaker 1 (23:59):
Also having a support system right a mentor coach,
listen community listen, Ilisten.
Speaker 2 (24:07):
Quick story I had.
It was on a friday.
I was going to see, uh, my boy,uh uh, mark drake, and that
saturday I was going to say, hey, listen, I had another meeting,
but I was going to hit thefloor running.
Yeah, I had my flies printedand everything.
Hey, this is what I'm gonna do.
Mark, speaking with him, hegave me some advice, right, and
(24:30):
I didn't know nothing about thatadvice.
He gave me a little, sometidbits of how you, how your
business form and this, and that.
Yeah, I'm like, okay, cool,that's cool.
All right, I'm gonna look intothat.
But I told him that Fridaynight I was like, listen, I'm
gonna speak to somebody elseSaturday morning and if he
didn't say something that I wantto hear or what I need to hear,
(24:51):
I'm going to put flies.
Speaker 1 (24:53):
You going all in?
I was going all in, okay.
Speaker 2 (24:56):
So Saturday morning came and shout out to Monty he's
a business consultant, he's agreat guy and he gave me the
tools I needed.
He mentored me.
He said okay, if you're gonnado this, you need to go do, do,
boom.
What about the state?
Do, do, do, do.
(25:17):
And for probably a month or two, every Saturday he sat with me
to make sure I was doing what Ineeded to do to start the
business right on solid groundto move forward.
So him again, shout out toMonty.
I call him OG Monty.
I appreciate you, sir.
Him taking time out of his fromhis family his weekend to spend
(25:42):
with me helped me and Iappreciate that.
So mentors are great.
Even we went to this conferenceyeah.
We have coaches and stuff tohelp us in this specific
business in home care.
So, man, it's a must have.
Speaker 1 (25:57):
It's important.
It's important to learn frompeople who are doing it on a day
to day basis and at a higherlevel.
Speaker 2 (26:01):
And at a higher level .
You know I can, if they what?
And at a higher level, and at ahigher level.
Speaker 1 (26:04):
You know I can, if they what was the saying?
If you're the smartest personin the room, find another room.
Yes, like that.
That's essentially it.
You know you want to be aroundpeople who are, you know, making
a difference, making a, youknow, a positive difference, and
people who are wanting to grow,just like you, and doing the
same thing that you're doing.
Because you can, you can addthose same kind of uh techniques
(26:25):
and different things thatthey're using to your business
to help you grow as well.
And then it's like a mastermindlike you're.
You're talking to differentpeople, you're getting their
input, but they're doing thesame thing.
So you're, you've either beenthere or you're going to be
there, and that's the.
That's the thing you guys cankind of piggyback off each other
, um.
But I also think that it'simportant that you build
confidence as an entrepreneur.
(26:47):
Again, you don't go into itknowing everything you need to
know, uh, you don't go into itknowing all the policies and the
state rules and all thequalifications.
So it's important that youbuild confidence, and the first
way you can do that is bysetting realistic, um and
measurable goals.
I know we all heard of smart,smart goals, s-m-a-r-t goals,
(27:07):
realistic and measurable goals.
Hey, if you want to start yourbusiness and you know that I
don't have the capital but Ialso need to secure that
commercial real estate space, ok, well, maybe I need to start
not 2025, january 2025, maybeJanuary 2026.
And I can put in littlemeasurable goals that I need to
hit this by quarter one and thisby quarter two.
(27:28):
You know so little things likethat to help you build your
confidence as an entrepreneurbecause once you start to see it
all just unfold and lay out,you're like I know I can do this
right.
Speaker 2 (27:38):
And once you reach those small goals right,
celebrate those wins oh yeahcelebrated yeah acknowledge, do
something to acknowledge that,hey, I got to this point.
Be thankful, be appreciativeyeah and and celebrate that, hey
, I reached this goal.
Yeah, I put it down on paper I,I, I, I set realistic outcomes
(28:03):
to help meet this goal and Ireached it.
Celebrate those small wins andshout out to leah for that one
yeah, see, coach leah yes she.
Speaker 1 (28:12):
The one thing we don't do is celebrate wins.
We just keep going and we'relike great and we just keep
going.
But it's important to do thatbecause, again, it does build
your confidence and let you know, hey, I can do it.
But also you have to learn frommistakes instead of dwelling on
them.
Right, like I don't know, wecan be hit with a million things
in a day.
We're like, oh, okay, and I'mlike, okay, I know what I need
to do and I just got to make thecorrection and you just got to
(28:33):
keep going.
Speaker 2 (28:35):
When things come, you have to really get into problem
solving mode.
All right, how do we solve thisproblem?
And then, once you solve theproblem, how do we make sure?
Is it somewhere in ouroperations that we fail for this
problem to come up?
Speaker 1 (28:49):
So you have to set operational goals as well, right
, and once you fix that problem,learn from it and keep moving.
And then I would say one of thelast things you want to do is
really develop a routine ofreflection and then improvement
One of the good things that Iknow you taught me.
In the beginning I would belike, well, why I did, why I did
(29:11):
why?
And you were like, well, listen, it's, it's happened.
So what are we going to do andhow can we not make this mistake
again?
Speaker 2 (29:19):
you know what I mean.
In other words, a lot of us,even including me, we get
emotional.
Yeah, right, and then we try tomake the decisions on emotions.
So what you would want to do isto say, hey, listen, ain't no
need to keep talking about itand being mad about it.
Speaker 1 (29:35):
Yeah.
Speaker 2 (29:35):
Ain't no need, ain't no need to sit and dwell in it.
Find out what that problem is,fix the problem and move past it
and try to make sure it don'thappen again.
Speaker 1 (29:45):
Right, that's the best right, because as long as
you stay emotional or staydwelling in it, you ain't moving
.
You ain't moving, you'restagnant, you're stuck and you
cannot adapt and redirectyourself when there is time for
change.
And so I guess, just as torecap a little bit about what we
talked about today, I reallyjust want to make sure that you
(30:08):
guys understand we have toreframe our mind from what we
know about failure.
We have to think, shiftperspective.
Failure is not the end.
Failure is feedback for growth.
It also means that we have tochange our mindset from a fixed
mindset to a growth mindset.
We have to think about hey,this may be where I am, but I am
(30:31):
going to a different level andso I need to change my mindset.
I also have to see challengesas opportunities, and not
obstacles.
I have to say, hey, this is achallenge, a roadblock in my way
, but I can get past this with X, y and Z.
And then now, because I wentthrough that roadblock, let me
(30:53):
not have that roadblock happenagain and I can do X, y and Z.
It's also important to prepareand do some risk management.
So make sure that you startsmall.
You test all of your ideas.
First, you build like afinancial safety net.
You also get a support systemfamily friends coach mentors,
whomever is in your circle thatcan help you, has started
businesses before, has been inthis type of level before.
Seek some help, seek someguidance, but also set realistic
(31:18):
and measurable goals.
As you go forward with yourcoaches and mentors they should
be helping you say hey, thiscould be a good trajectory, this
is what you could possibly do,but also you have to continue to
celebrate those small wins.
Make sure that you're puttingyourself first as well as you
continue to try to scale thisbusiness that you're doing.
Um, but make sure you celebratethe small wins.
(31:39):
Continue to just have fun withwhat you're doing, because if
you're not having fun, then it's.
It doesn't matter at the end ofthe day if you're not enjoying
what you're doing, because ifyou're not having fun, then it's
.
It doesn't matter at the end ofthe day, if you're not enjoying
what you're doing, you can'tserve people clearly,
incorrectly, uh.
So that's super important.
But you also have to knowfailure is not the end.
Your destiny surpasses all ofthat and you have to remember
(31:59):
that you can keep going and youcan do it just like all of us
today and, like you said,failure is to build character
for you to succeed right.
So I hope that this hasencouraged you.
If you have a small businessthat you want to start, you've
been thinking about starting doit.
(32:21):
Do it, listen to the podcast,reach out to us.
Whatever you want to do, we'rehere to help and support.
But just remember start smalland failure is going to happen,
but we can overcome it and thenthat is all for the journey of
podcast today.
Thank y'all so much.
See y'all later.
Y'all have a blessed day you.
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