May 28, 2025 • 59 mins
There's a critical moment in every entrepreneur's journey when they must decide: keep planning or start doing. This pivotal decision often determines whether a business idea becomes reality or remains forever in the planning stage.
In this thought-provoking conversation, we dive deep into the concept of the "gestation period" for business ideas – that crucial time between conceptualization and execution. The longer this period stretches, the less likely you'll ever launch. But how do you know when you're truly ready?
We explore how different entrepreneurial personalities approach this challenge. Some thrive on rapid execution, quickly creating minimum viable products and gathering customer feedback to refine as they go. Others benefit from a more measured approach, especially when significant capital or industry knowledge is required. Neither path is inherently superior – understanding your natural tendencies helps you navigate this critical phase more effectively.
Fear often extends the gestation period unnecessarily. Whether it's fear of failure, fear of sharing ideas (worried someone might "steal" your concept), or simply fear of the unknown, we discuss practical strategies to push through these mental barriers. The most successful entrepreneurs don't eliminate fear – they act despite it.
Perhaps most importantly, we examine how intuition plays a surprisingly significant role in entrepreneurial decision-making. That gut feeling, combined with basic validation from potential customers, often proves more valuable than exhaustive market analysis or endless planning.
Ready to transform your business idea into reality? Listen now and discover why entrepreneurship is ultimately more about doing than planning. Your business won't build itself – take that crucial first step today.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Yeah, you're not going to climb the mountain.
If you climbed the mountainbefore, right, you know what I
mean.
Yeah, what's the point of thatthen?
Right, yeah, yeah, so no, youdon't know for sure you're going
to be able to.
Yeah, but you're still going totry.
Once again, you got to step out.
You got to do it.
Entrepreneurship is more doingthan it is planning.
(00:20):
That's beautiful.
Speaker 2 (00:26):
That than it is planning, that's beautiful,
that's so true.
Speaker 1 (00:34):
This is another episode of Big Talk, big Talk
about the small business, aboutsmall businesses.
Speaker 2 (00:43):
That's a good one.
It gets better every time,every time I.
Speaker 1 (00:48):
I was just telling eric as I sat down this morning.
Every day, I reflect back onsomething that eric has said,
either on this show or out ofthis show, whether it's his
stance on walmart and how, everytime I order from Amazon, I'm
I'm, you know, taking food outof the mouths of babes.
(01:08):
Or or his great quote I wasthinking about this morning at 5
.
It was that business is just abunch of problems.
Yeah, it's so true.
They're either good or bad.
Speaker 2 (01:22):
Yeah, they're not all good and they're not all good,
cause they're either good or bad.
I'm just like waiting for thenext problem, like when's the
next?
Is it good problem or badproblem, are we supposed?
Speaker 1 (01:32):
to say all problems are opportunities.
Eric, just like all failure isgood, we can learn from no.
Speaker 2 (01:37):
No not all problems are opportunities.
They're freaking.
Drag.
Vacuum sucks of hell, you knowthat's the truth.
Speaker 1 (01:44):
Sometimes it's just like, oh my god, I can't, and
especially recurring ones.
Oh, why am I having the?
Speaker 2 (01:49):
same problem again all the time, every day I do.
I'm like how is that not clear?
My, my biggest problem,honestly, is clarity, and I
don't know how else toarticulate.
And I'm actually.
I was going to the bathroom forthe show earlier, yeah, and I
was thinking, yeah, it was likeI do my best thinking in the
bathroom yeah and shower.
(02:11):
And I was like why, how do, howcan I improve on articulating
vision?
Mm-hmm, you know what I'msaying?
Because I think that, as anentrepreneur, we don't realize
that not everyone sees.
Speaker 1 (02:27):
They don't put it all together, they can't visualize
from where you are now to whereyou're trying to go.
Speaker 2 (02:31):
Yeah, and that's all I can see so clearly.
It's just like it's so clear,yes, and I don't understand that
maybe everybody else around methat I work with don't see and
obviously they don't see theexact same thing I see, because
we're all different, but mybrain doesn't register that
there's a gap there, and so,therefore, all I do is talk and
(02:54):
talk, and talk, and talk, andtalk until I want to blow my
freaking brains out.
Speaker 1 (02:59):
I know you sound a little repetitive.
It's like haven't I said this amillion times before.
Yeah, and then I get excited.
It's like haven't I said this amillion times before.
Speaker 2 (03:05):
Yeah, and then I get excited, like literally.
I'll tell my wife sometimes I'mlike I almost passed out today
again in a meeting.
She's like what do you mean?
I'm like, well, I talked and Igot so excited and the
adrenaline starts rolling.
Yeah.
And then my heart starts racingand I don't breathe while I'm
talking.
Speaker 1 (03:29):
And I literally feel lightheaded.
While I'm talking, you're sointo it, you forget to breathe,
I forget to breathe.
Speaker 2 (03:34):
And then I'm like, oh , why am I feeling this way?
And they're like, oh, that'sright, because I didn't breathe
and I got excited.
Well, you know, makes totalsense.
It doesn't make sense.
Speaker 1 (03:43):
Yeah, I mean, half the time I feel like I'm going
to pass out, but it's justbecause I stand up, ok, that's
what happens when you're 67years old.
You stand up, yeah, and youstart to feel like you're going
to pass, ok, but but no, I getit.
I mean, that's not really thetopic of the show today, but I
(04:07):
do think it's relevant because,I mean, I deal with this in
every business I'm a part of,and I think the problem a lot of
times is, you know well,sometimes it's that people just
aren't very intelligent, butmost of the time that's not the
case.
Most of the time it's.
It's really a matter of theydon't have your perspective.
They don't have yourperspective, they don't have
your experience.
Their, their perspective isformed based on their experience
(04:29):
and their experience doesn'tinclude yeah, this end state
that you're trying to get to.
Yeah, don't you think?
Speaker 2 (04:39):
totally no, 100 percent like it's.
You know, and I think that alot of folks like they're not
opportunistic.
You know they're not glasseshalf full.
They're not seeing the lightRight.
You know, and I began torecognize that over the over,
(04:59):
like I started empathizing alittle bit that you know, not
about the people's problems, buttheir perspective of their life
, exactly, and like what is likeeven the meaning of life to
them, like I mean it's troublingbecause I mean I think that a
lot of folks wake up with thenegativity and they carry that
negativity and they're justwaiting on something else to
(05:23):
make them happy.
Speaker 3 (05:24):
Yeah.
Speaker 1 (05:25):
And, like you've always said, we are meant to
work, we are meant to create,yeah, war zone.
Okay, that's what you alwayssay.
It's another one of the thingsyou say all the time.
We're designed to work.
We are, but it's true.
But see, some people think workis to be avoided and only thing
that's going to make me happyis buying this or going on this
trip, or having the weekend, orgoing out and getting hammered
(05:47):
tonight or whatever.
Yeah, those things never makeyou happy.
No, accomplishment makes youhappy.
Accomplishment's the only thingthat comes from the work and
the work and the labor.
Speaker 2 (05:57):
Yeah, real quick on this.
I was constantly studyingwhat's going on with AI and
agentic and all this type ofstuff, but I've watched a video
where Elon was talking and Idon't know how many people
caught this truth but he wassaying that there will be a day
when there's no work needed tobe done because of agentic and
(06:20):
AI.
But it's this world.
You have everything you want,like like almost money isn't
anymore because it's allprovided agentically.
Sure he goes, but that's youknow.
That sounds great, but the realproblem is is what is humanity
gonna?
How are they going to reactwhen they don't work?
yeah, because and he even saysit's like misdirection.
(06:42):
Work is a major part ofsatisfaction, is is one of the
primary points of satisfactionand I mean, I don't know, that's
my big concern.
Speaker 1 (06:50):
You take that away.
It's a really good point.
Speaker 2 (06:52):
Yeah, it's like what is your purpose?
Because you know purpose, likewhat else I mean?
Anyway, I mean, I just feltlike that I don't know that back
to the point, like that peopledon't identify a purpose in why
they're walking.
Speaker 1 (07:09):
They're walking into work.
Why they're going to work?
Well, their purpose is to makemoney so they can live in their
mind.
Speaker 2 (07:14):
Yeah, and then take vacations and have more time off
.
Speaker 1 (07:16):
Right Like that's not a good direction.
It's not a good direction.
You said it.
The direction needs to be toaccomplish something.
Yeah, but if they haven't hadthat perspective, then the
vision doesn't really meananything.
Speaker 2 (07:31):
Right.
They can't catch on to what'sbeing said by the entrepreneur
of where.
Here's where we're going.
This is why we need to whenthey don't believe it's possible
.
Speaker 1 (07:41):
Oh God, Okay, that's the other thing.
Maybe they can catch on to whatyou're saying.
How many, I mean it's likedon't believe it's possible.
Speaker 2 (07:49):
Has it been proven in history that so many things are
possible.
If it wasn't for those folksthat are driving possibility and
opportunity like we, would notadvance as human beings.
We would still be trying tomake a fire All progress is made
by unreasonable men.
Speaker 1 (08:05):
Have you ever heard that?
No, but it's true though.
But it's like they'reunreasonable, they don't accept
the status quo.
They believe that you can gosomewhere else, and so do
something else.
Speaker 2 (08:17):
I guess it's the doubt that, like I don't know
how many times you'veexperienced this, but I'll be
talking to the team and I'mlooking around and everybody is
looking at me like I'm eithercrazy, I've lost my mind.
Yeah.
I experience that a lot Intotal disbelief.
And then you zone out and I'mlike give me some feedback here.
Folks, like I'm going to keeptalking, saying the same thing
(08:39):
over and over again and gettingmore excited, until you look at
me and go, oh yeah, I want tosee a smile man let's go.
Speaker 1 (08:46):
Yeah, it makes total sense.
I mean, you're in a differentposition than me because you've
got businesses that you'retrying to to grow, that you are
the head of.
I am behind the scenes thesedays.
Yeah, okay, I'm the guy backthere trying to get stuff done
without being the public face.
Yeah, and, and it's, believe me, it's a different role than
(09:08):
what I'm used to.
Just, what's the frustratingthing on that side?
Because I can't directly.
I have to communicate thesethings through other people,
okay, and they don't always getit themselves, or they don't
articulate it the same way I do.
Okay, they, they, they're,they're too soft yeah they don't
get excited enough.
(09:29):
Yeah, you know what?
Speaker 2 (09:30):
I'm talking about.
Oh, I do, man, I could like theidea of of having to um
communicate through someone else, basically, basically brokering
your vision and what needs tobe done.
That's challenging.
Speaker 1 (09:45):
It really is.
I mean, you know how it used tobe when you and I worked
together.
It's exciting right Now.
Some people don't like it.
I'm sure our style does makesome people nervous.
Oh sure they just think thatyou're crazy or you're
unpredictable, or whatever.
Speaker 2 (10:02):
Out of our mind, don't know what we're talking
about.
Old in the way.
Speaker 1 (10:06):
Yeah, hip shooting.
Don't have enough data Datadriving our decisions.
All decisions must be datadriven.
I love that.
No, no, that's not true.
Speaker 2 (10:17):
Don't think that baby .
Speaker 1 (10:26):
Well, anyway, this is a fun topic and I can empathize
with you, because I do know howcritical it is to get that
vision across and get people toreally believe that it's
possible.
Then they will act accordingly.
But today we're going to talk alittle bit about something that
it's a term that I used in oneof the short chapters of my book
, confessions of an Entrepreneur, and that is the gestation
(10:49):
period for a business and theimportance of that.
Okay, now, before the showstarted, you were asking, like
you're sort of questioning, yeah, what, whether you need that,
what's that?
Speaker 2 (11:03):
well, what, what is this?
What is this gestation?
Speaker 1 (11:07):
the gestation period is is from the the time between
when you really have your ideafor your business and it's
formed.
It's more than just like aproduct idea, it's an idea for a
business.
Okay, it's formed.
It's more than just like aproduct idea.
It's an idea for a business.
It's formed in your mind.
The period between that timeand the time you actually start
(11:28):
it I mean it doesn't have to belong, it could- be long.
My experience is, the longer itis, the less likely it is you'll
start the business.
That could be good or bad.
It's good if you made a gooddecision not to start it is.
You'll start the business.
Okay, that could be good or bad, yeah.
Okay, it's good if you made agood decision not to start it
because it was not going to work, got it?
It's bad if you delayed and youmissed the opportunity in front
(11:49):
of you.
Yeah, but I guess my wholepremise when I put this in the
book was that sometimes thingsdo get a little better with a
little more time spent onthinking them out, not
necessarily to say I'm not goingto do it.
That's one possible outcome,but maybe it changes, maybe it
(12:11):
morphs in some way.
Maybe you change the way youthink how you're going to
monetize this or how you'regoing to sell this or what this
is.
Yeah, that that time can bevery helpful.
Do you believe that?
Or what do you think about?
Speaker 2 (12:30):
that.
Well, I'm just thinking aboutthe whole and to the audience,
just so you know.
I'm like, really, I was reallyignorant of this term, right, I
forgot about it.
I forgot about that term in yourbook you know when I read it
before, and it's a confusingphase in my brain because I'm
(12:51):
trying to separate.
So action oriented, yeah, I'mtrying to separate like what is
like.
I can look back and say Ireally wish I would have spent
more time on some ideas that Ihad.
But a lot of times whenever Ihave an idea there's an
immediate go into business.
I don't fart around too muchabout.
Speaker 1 (13:12):
Right.
Well, you rush to the MVP.
Yes, right.
As fast as you can Withoutthinking the minimum viable
product and then see if somebodywants to buy it.
Yeah, yeah, yeah, I guess.
So yeah, and in the course ofthat, though, you might still
refine it.
Speaker 2 (13:26):
Let's be honest.
No, well, the thing is it'sconstantly in refining.
But to your point, I guess thatthere's a.
If I have an idea, the veryfirst thing I do is I talk to
potential clients about itexactly get their feedback and
reaction if they get excited andlike it.
That's good I'm yeah, and I'mjust so.
(13:48):
And then I go to another oneand they have the same reaction,
like boom, this is a product,this is a business, yes, let's
go to market now.
It's just a matter of how do weexecute it.
And yes, the right painting onit and the right numbers and
then just go, go, go, go, go go.
I am with you so much on that.
So I'm wondering, like I guessthat is kind of because I will.
But again I would say that theamount of time that I'm in that
(14:12):
part is really more about howfast can I like what's the delay
in my client meet or aprospective client meeting with
me so I can have that feedback?
If it takes them two weeks,then I probably might not even
meet with them.
I might meet with other ones,the audibles, because I'm
pushing as fast as I can BecauseI'm excited about the idea, but
(14:34):
I'm really excited to know ifit's a legit idea, if it's a
sellable idea.
So I'm like really poweringthrough to get my answer as fast
as possible, because the longerthat I delay on getting this
business out to market, the moreopportunity it is for a
competitor to come in.
Yeah, freaking still, thethunder of which really pisses
me off.
Yep, you know what I'm saying.
(14:56):
Yes and so well again.
Speaker 1 (14:58):
I mean, I do think to a certain extent, like the
kinds of businesses that youlike to create are ones that are
all new.
Yeah, okay, that's what you'reinto.
I mean in the past you hadexperience going into mature
industries.
Okay, you did that too.
Yeah, but you swing for thehome run, yeah.
Yeah, you don't go up there andtry to hit singles and doubles
(15:23):
I'm usually pretty happy withthose you know a double is
pretty good.
Yeah, I'm usually happy withthat, but but that is a
difference, I think.
You know, when you're talkingabout something that's an all
new invention, new business type, um, maybe the timing is more
critical.
On the other hand, I could saythe timing is more critical.
On the other hand, I could saythe feedback is also more
critical.
Speaker 2 (15:42):
Right Dude, 100%, because you don't know whether
people are going to want this atall.
You know I've talked.
You know there's been ideasthat I've had, that I've talked
to some prospective clientswhich, by the way, are the
number one people to talk to.
I don't go talk to freakingattorneys and accountants.
(16:03):
God on planet earth is anaccountant.
Yeah, they're so a lot of timesI don't talk to my wife about it
because she's usually you know,but I will say that she has
some very instinctual truth thatI can't seem to understand how,
but she's been right, veryright about certain things that
women are generally better.
In that regard, I have a lot ofrespect for it.
(16:24):
Now, yeah, like, I mean like,if, if, like, and I have a lot
of respect when she's like oh no, I like that, go right, it's
like that's really encouragingyou know exactly, I get it.
But uh, you know, like, when Igo to these prospective clients,
like they're getting, thatfeedback is um to me the
pinnacle Because, like you said,there's a sparkle in the eye,
(16:46):
there's a oh, I'd like that.
That's all I need.
I don't need to understand muchmore than that from my
interview to get me out ofgestation period, I guess, and
getting into the business.
Speaker 1 (17:00):
Some people, though, I've run into more than once I
think it even came up on theshow before they're afraid to
share their idea that somebodymight quote, copy it.
I'm like what?
How in the world are you goingto get anywhere with this unless
you get some feedback frompeople who actually know?
Yeah, you know, like yourcustomer and I get that.
Speaker 2 (17:24):
I think that that's a little bit of of just being new
in the game a little bitbecause, like I was, like that
at the beginning.
Yeah, just, and I was reallyworried and people have stolen.
I've had more ideas stolen fromme than I have actually gotten
them to market.
But I will tell you this thereason they were stolen from me
(17:45):
is because I had a longgestation period.
Yes, they waited too long,waited too long and I was trying
to partner.
There's a difference betweentalking to somebody about your
idea, leaving that conversationalone, or talking to somebody
about your idea.
They reel you in and then theystart trying to partner and then
they get every second all outof you and then, all of a sudden
(18:06):
, one day they've launchedsomething and it's a surprise to
you.
Yeah, that's not good.
It's not good, but that's whathappens a lot.
Now you need to be careful abouthow long you and how deep you
go with these discussions.
Like, if I have and so I thinkthat probably my model is is I
(18:26):
quickly go and I am open aboutwhat I'm doing and I share.
A lot of times I share too muchand I walk out of the meeting
going Eric, shut your freakingmouth.
Like you, don't tell everybodyyour plans.
You know that's usually myresponse to myself.
But what I do is I have onemeeting with that person and
then I I get what I need out ofit and then I go meet with
(18:47):
somebody else, but then I'm outto market.
What I don't do is continue togo back to the same person and
reshare and reanalyze right, Ihear what you're saying.
You know I don't need all that.
Speaker 1 (18:56):
Then they're taking ownership yeah, yeah, then it
because then you're saying Idon't need all that.
Speaker 2 (18:59):
Then they're taking ownership, yeah, yeah.
Then you're giving them wingsto fly yeah, you got to be
careful with that.
That makes sense.
And then speed to marketdisrupting.
And then also, I like it when Ido start something and I see
the gapers come up to thesurface who have stolen an idea.
(19:21):
And you know it was thembecause you talked to them.
They didn't even know they hada spark on the line when you
talked to them the first time.
And then here they are a monthlater doing the exact same thing
that you have already launchedand you can see them gaping on
you.
I like that because it gives mea lot of energy, makes me, makes
the you know the sportscompetition rise up in the blood
(19:43):
and I can find that extraenergy, or I can have this extra
energy to conquer yet anotherproblem that happens to me.
You know what I'm saying.
So there's a lot of emotionalenergy that comes in.
So, to your point, you need tobe a little cautious about how
much you talk to people and whoyou're often talking to, but you
(20:06):
should be cautious about nottalking about the idea,
especially prospective clients.
You've got to get somevalidation.
You've got to get somevalidation and then even still,
people are going to steal ideas.
But that's what business andcapitalism is all about.
It's about being first and bestright, and don't be afraid of
(20:28):
competition.
Play the game, you know whatI'm saying.
Speaker 1 (20:33):
Yeah, well, I'm in such a different world than you
for most of what I've done.
I'm not in this new inventionworld.
Yeah, you know, you and I sortof depart parted paths in 2012
or 14 or whenever.
Yeah, whenever you it.
Well, it was probably evenlater than that.
No, it was 12.
(20:53):
No, I know, but then.
But when you started out, youhad a marketing agency yeah okay
that that's not that unique oh,gotcha okay, yeah but then,
when you started deciding totransform the business into
something else, that's reallywhere we took these diversion
got it, got it, got it okay.
But you know, so in my world,I'm dealing with generally
mature industries where you'renot going to be the first one
(21:17):
there.
You're going to start somethingor you're going to buy
something, but you're going tochange it, you're going to make
it different, you're going tomake it better than what's out
there.
Yeah, you know.
So there's still a gestationperiod required in my mind for a
lot of reasons.
Like, do I really have a goodbusiness plan?
(21:37):
Am I going to be able to affordto do what I say I want to do?
Right, like, how much capitalis this really going to cost me?
Speaker 2 (21:44):
Yeah.
Speaker 1 (21:44):
And sometimes it takes some investigation and
talking to a lot of people likesuppliers, and understanding
timelines on things yeah,understanding, like what you can
get financing for and what youcan't.
You know what I'm saying.
You can have the idea and it'spretty well fleshed out in your
mind, but until you get intosome of those details, you can't
(22:07):
see whether or not either youcan do it or you'll want to do
it.
You know so I had a businessplan that my wife and I came up
with, um, and we and we.
we had a pretty well thought outum prior to COVID, right, you
know it was immediately beforeCOVID, and then when COVID hit,
(22:30):
um, and it was a good plan.
I think it would have beenviable.
I don't know that it would havebeen a home run, but it
might've turned into one, butlet's say it would have been a
at least a double yeah.
But after COVID hit and youstarted seeing everything
retract and pull in, it reallymade me rethink.
(22:52):
And then I thought, holy cow,plus, we didn't know a lot about
COVID.
Yeah, I thought what happens ifI keel over from this?
True, yeah, and I'd leave mywife holding the bag with this
other business on top of theother ones that she's got to
deal with.
Yeah, ours, yeah, and you knowwhere she's not going to be very
happy.
You know I'll be dead andshe'll be pissed at me, ok.
Speaker 2 (23:14):
I think about that a lot.
So you know what they're goingto do, though, sonia or Tara.
They're gonna do, though, soniaor tara, they're just gonna be
like, uh, kill it, yeah, killall of it, kill it, cash it out,
cash it out, kill it.
I don't even care about thecash, kill it they don't want
anything to do with it.
Speaker 1 (23:33):
well, in any case, I just use this as a specific
example of where thecircumstances in the external
market changed and and you know,I pulled the plug on it um,
because I had that time to thinkabout it.
I could have just acted, yeah,okay, maybe it would have been
good, maybe it wouldn't havebeen good, but the fact that I
(23:56):
had that extra time I mean thetime was critical.
It wasn't all in COVID A lot ofthat time was finding my
suppliers, getting them tocommit the prices, beating them
down, getting people who saidthey would drop ship stuff for
me instead of me.
I mean, there's a lot ofdetails to work out.
That made the business, in mymind, better than if I just said
(24:20):
let's do it, write a check, buythis stuff, have it all sent
here and then we're going tosell it all online.
It was an online-based productbusiness, yeah, yeah, so, anyway
, I do think those are twodifferent scenarios, though,
that we're talking about.
Speaker 2 (24:37):
You know, it makes me think like, which has been
something that's been realeye-opening to me in my business
career, is like there's adifference between starting
something and then second stagegrowth.
Speaker 1 (24:52):
Yeah, oh yeah, there is.
Speaker 2 (24:54):
And, man, I can start a lot of things Right and I
also think about I'm a zero to20-yard line person, and then
there's the 20 to 50.
Yeah, yeah, 20 to ends.
No, I understand that.
Speaker 1 (25:07):
I can see that with you.
Speaker 2 (25:08):
Yeah, but I mean, like this glass ceiling of
second-stage growth, of like andkind of what you're talking
about, you take that businessand you make it better, you get
it over the hump to scalability,profitability.
I love that part.
Speaker 1 (25:27):
See, I don't.
I know I believe you, butthat's fine.
I mean, it's why you got tohave partners.
No 100%, you know, becausepeople have different.
I've started plenty of stuff.
I've started like six or eightcompanies, but it's not what I
enjoy the most.
I would much rather come into asituation that's got customers
(25:49):
and employees and products orservices.
Speaker 2 (25:53):
I think that what I wish I would have known a long
time ago is that an entrepreneurand business owners like it's
just not one big bucket.
Speaker 1 (26:02):
No, and there's not one formula right.
Speaker 2 (26:04):
Yeah, there's different ways and yes, and
there's different ones fordifferent things at different
times.
Yes, right in the business andlike yes, I think it took me a
long time, because I feel likethat, as an entrepreneur, you
feel like this pressure, likewhether you are better at second
stage growth, but you stillfeel a pressure to innovate and
start up, and vice versa.
If you're a startupentrepreneur, you feel this
(26:27):
pressure to like be a CEO anddrive it to the next level.
Speaker 1 (26:30):
It's so true, and the key to success is always
focusing on what you do well,okay, yes, stop working on your
weaknesses, even though a lot ofpeople say that.
What do you mean?
Don't work.
Work on your strengths.
Yeah, get other people to fillin for your weaknesses 100
because, honestly, you don'thave enough time to work on all
(26:51):
of them.
You don't, and some things youjust may never be good at, like,
yeah, probably never going tobe a great golfer, even I never
played a lot, but it's just notyeah, it's probably never going
to be good at it, yeah and Ithink it's important for
listeners to.
Speaker 2 (27:05):
So why try to recognize that like and it's
okay and you don't, and youdon't have to be the all-in-one
right, like I mean, and therethere are some that are out
there and I mean kudos to them.
I don't know how they can bethat like, maybe when I'm 65 or
70 I'll be there, but like as oftoday, like I don't have, I
don't have, I don't have thedesire to graduate into a second
(27:30):
stage growth scalable.
Speaker 1 (27:32):
I understand that totally you know it was
interesting.
My wife and I watched a reallygood documentary the other night
.
You're gonna watch this becauseyou'd like it.
I think it was called beingWarren Buffett or Becoming
Warren Buffett.
It was his whole story, hiswhole life story.
Oh, that's cool.
You know, warren Buffett isclearly I mean the guy's
brilliant.
At one time he was the richestguy in the country.
(27:55):
He's given away most of hiswealth at this point, but it
seems like all of them do that.
A lot of them do, not all ofthem.
Some are just selfish to theend, but a lot of them do.
But in any case, the thing withWarren Buffett was it was
really interesting.
Is he's probably Asperger's wayout on the spectrum?
(28:16):
Okay, yeah, which a lot ofbrilliant people.
Look, I mean, I don't know asingle entrepreneur he's not
either adhd, dyslexic, yeah, orsomewhere on the spectrum of
autism.
They all seem to be, yeah, um,but, yeah, you may not be, you
(28:38):
you're probably adhd at aminimum.
But in any case, um with warrenbuffett, it was interesting
because basically his wife said,like there's just some things
he's never going to be good ator do.
Okay, he's just, he's reallyreally good at at numbers and
making money, yeah, but then,like, when it comes to certain
(28:59):
interpersonal things, it's justnot, it's not his bag and he's
not gonna be, and that's okay.
We just accept that about him.
Yeah, okay, I hope my wifelistens.
You should watch that that.
But but but the point, it iswhat you're saying.
I mean, not everybody's good ateverything.
You got to know what you'regood at, okay, you got to get
(29:21):
the right partners.
Yeah, different businesses haveshorter or longer gestation
periods.
I think we both agree.
The longer it is, the lesslikely you are to do it.
That's a fact.
Oh, yeah, for sure, for sure.
All the reasons come into play.
Why not to do it 100%?
If you just launch, launch,it's too late, dude that's
(29:45):
actually.
Speaker 2 (29:46):
That's one of my, that's one of my, um, I guess
personal internal strategies isit's.
It's funny.
I know that I work best underpressure.
Yeah, like, have you ever heardof the parkinson law?
Speaker 1 (30:00):
I don't remember it.
Speaker 2 (30:00):
I think I have yeah it was.
Speaker 1 (30:02):
Parkinson's Law.
It's a management principle.
Speaker 2 (30:07):
Yeah, it's like if I said do X in Y time, most people
are going to wait to the lastday to do it, and so it's you
know.
Or if it's 30 days time, you'restill going to wait.
Speaker 1 (30:19):
Right, you'll do whatever the time it work
expands to fill time.
Speaker 2 (30:23):
There you go, yeah, yeah, that's it, and it becomes
this flow state thing that weget in.
Speaker 1 (30:28):
And so, um, oh, I'm a big believer in that.
Speaker 2 (30:31):
No, I am too.
That's how I bought this wholeoperating school.
Like my daughter's goingthrough it, like she.
She is like, I mean, when itcomes to math.
Like she's like like just doesbare minimum and just kind of,
and then, but then at the endshe'd like crams it in and makes
it, it makes it all come up.
But she lives under thisintense pressure for a week
(30:52):
versus being logical andthinking about it.
Speaker 1 (30:55):
That was never my style.
I always did it all along theway.
See that's.
I went to class, did myhomework and stayed up.
Speaker 2 (31:02):
I feel like that, if you're listening to this,
knowing how you operate, innormal circumstances, to your
point, logical,non-procrastinating, yes, right,
yes, and you just continuouslydo that.
But then there's the other sideof it, like myself to where
last minute.
Speaker 1 (31:22):
My wife's like that.
She needs the deadline.
Then she just like, pours it onExactly and gets it done, gets
it across the goal line.
But it's going to be at thelast minute.
Speaker 2 (31:31):
Yeah, exactly, and this is one of my self-reliant
strategies is that's why Iprobably launch, because
immediately I'm like shoot, nowI've got to get to work.
Speaker 1 (31:39):
Yeah, it forces you Otherwise my gestation period.
Speaker 2 (31:41):
I could probably just push and push.
That's an interesting point ofview.
I can see that, and when I wasat White Spider and developing
that business, I had pushed alot of podcast videos as an idea
media ideas.
Oh, you always had ideas, yeahbut I was just always
backburning for 10 years, for adecade, just kept pushing,
pushing, pushing and as soon asthat hit the acquisition
(32:05):
timeframe, it was just like boom.
Everything was kind of.
And then I went a little nutso,like I had like 12 companies
within like three weeks, bam bam, bam, bam bam.
You can ask my bankers, theyfelt it the most because of all
the new accounts and stuff likeboom, boom, boom, boom.
But then you know it's gotten alittle slightly better and more
(32:27):
narrow.
But I think that that point islike.
You know, that's been one of mystrategies to launch really
quick, so that therefore I'm inthe weeds of it and now I have
to get at it.
Speaker 1 (32:37):
You know that strategy of business and
entrepreneurship is that you'llstart all these different things
but, like the odds are that oneof them will really hit big,
right, yeah, I mean you knowthat, yeah, 100, that's the odds
.
The other ones, you know, I'mnot saying you'll go broke, but
you may just decide to abandonit, right, yeah, so that's one
strategy.
The other strategy is that youjust do one or two things.
(33:02):
You do them really really wellyeah and, and you just focus on
that.
I've done both of those myself.
I think I probably gravitatetoward lots of things now.
Yeah, it's more interesting tome.
Yeah my attention keeps youshort, yeah, yeah and so that
keeps that just keeps youlearning and and and it's more
(33:24):
interesting.
Yeah, it's not necessarily theway to make the most money.
In my experience, I did betterwhen I did one thing and did it
really well.
Speaker 3 (33:32):
Yeah.
Speaker 1 (33:32):
And it was another um .
There was a really great videothat you should watch sometime
it's.
I can't remember the guy's lastname.
It's.
His first name is Siddharth,and Siddharth took over one of
his father's companies it wasRoyal Enfield Motorcycles when
he was like 26.
(33:53):
He didn't know anything aboutthe business at all.
He went to business school.
He was just a quote rich kid,yeah, okay, yeah, this.
They had 15 companies.
This was one of them and itwasn't doing very well at all.
In fact, it was doing reallypoorly.
Great video of how hetransformed it.
They're the largest motorcyclemanufacturer in the world today.
(34:14):
Wow, siddharth is 51 years oldnow.
But the interesting thing aboutSiddharth was, I mean, he
immersed himself in thisbusiness.
He went there, he slept on thefloor of the factory for four
years.
He moved into the factory.
He got rid of all the companycars for executives and made
them all ride their motorcyclesto work every day.
(34:35):
And then they got to see theproblems with them, which were
many.
Yeah, yeah, yeah, yeah, okay.
But these are just a lot ofthings he did.
But anyway, he did such a greatjob with it that his dad came to
him a few years later.
It's like now I want you totake over his you know ceo of
the whole thing, all thesecompanies.
He's like, okay, I'll do it,but you got to let me do what I
want to do.
(34:55):
And his dad said, yeah, you cando what you want to do.
So he got rid of uh 13 of the15 companies kept the motorcycle
business and the truck business, he goes.
I can have a whole lot ofthings that are mediocre, or I
can do a couple things thatknock the cover off the ball
where we dominate the market.
Yeah, yeah, he went with thelatter strategy.
(35:17):
There it is, but it's a greatstory.
But these are differentapproaches and I think you know
again, if you're a guy like youthat likes to create lots of
different things and then youknow odds are something's going
to hit big other ones, aren'tyou sort of decide what you're
going to be more interested inbased on what happens?
(35:39):
I've lit a bunch of fires whichone's going to flame up right,
100%, obviously.
I think that's a really good.
That's a classicentrepreneurial approach to
business creation.
Speaker 2 (35:53):
Well, because I think that when you have all those
things in the air like externalcircumstances will impact
business.
Sure it might impact this oneover here.
Yeah, you know, positively ornegatively?
Exactly, Sometimes it's positiveas you say yeah yeah, so you
roll baby, like right now, likewhen I look at my portfolio of
(36:16):
companies, I'm like man it's.
It's actually kind ofinteresting that all of them are
kind of like in this hotbed,like they're all rising up at
the same time of opportunity forbeing opportunistic.
You know, it's, it'sexhilarating time and it's
almost kind of hard for me to tochoose where I spend most of my
time on at this moment, becausethere's some but, but I know
(36:37):
that like there's like maybenext week, like one of them is
going to need all this attention.
It's like boom, go and justdive down into a sell sheet or
something on this one and giveit to the team, pass off, and
then boom over here, this one's,and they just kind of keep
feeding each other.
This, I guess, this energy ofexcitement, this, uh, I guess
(37:03):
this energy of of excitement.
You know, and, and what's alsointeresting is that I've, you
know, like you can set them upto where they may be different,
but they're all kind of in thesame vein oh, I love that where
there's some quote synergy.
Speaker 1 (37:11):
Yes, yeah, I mean I, I definitely think 100 percent
totally unrelated.
It just doesn't make any sense.
So I like to share customers,you know, people, whatever.
Yeah, like there's a better theselling this.
Help me sell that.
Speaker 2 (37:27):
And there's a central knowledge and vision coming.
Yeah, because like Siddharth,right, like he got rid of
everything except a motorcyclecompany and a car company, right
, or a truck company, right yeah.
Speaker 1 (37:46):
You might think lulls are too different, but they're
actually kind of the same, ofcourse they dealt with vehicles
and vehicle regulations.
Yeah, suppliers.
Yeah, no, you're absolutelyright.
And then that gives a lessonlearned in.
One may apply to lesson yes 100I do think having some
relationship with thesebusinesses, um, it really makes
a lot of sense versus.
I never understood these.
These like private equitygroups that just buy unrelated
businesses and then don't managethem in any way.
(38:07):
They're just financial.
That's hard Investors.
They just look strictly at thereturns.
But you know Warren Buffett didthat.
Yeah, I mean again, it justgoes to show that there's these
different formulas.
Yeah, you know, a lot of peopledon't realize he started out
buying penny stocks and dogsOkay yeah.
(38:27):
And he changed his wholeapproach to buy blue chip
companies and not interfere intheir management at all.
It's a totally differentapproach and they are unrelated,
but he doesn't interfere intheir management.
So, yeah, yeah, it didn'treally matter.
But you know he just keptsaying just focus on the
(38:48):
fundamentals.
Speaker 2 (38:49):
They got good management, they got a good
track record, they got a goodbrand yeah, big the the brand
was a is a big thing to him asfar as what I've researched.
Yeah, yeah, so there's all thesedifferent styles though right
of entrepreneurship, differentways to get into business,
different ways to approachstarting or buying a business
(39:11):
yeah, and I think it leads tothe, you know, like that
gestation period is going to bedifferent because there's
different styles, there'sdifferent people, there's
different types of businessesthat you're getting involved in.
Yeah, and so that could lookdifferent yeah, some you may
know more about.
Speaker 1 (39:26):
Yeah, right away.
Right like, if I was going togo buy an architecture
engineering firm, I think I'd beable to have a shorter
gestation period than if Iwanted to buy a restaurant 100.
I don't know anything aboutrestaurants, but I do know
architecture and engineeringfirms really well.
Yeah, yeah, so it's going to bea shorter um gestation period.
Speaker 2 (39:46):
Yeah, I think that's a good point yeah, yeah, and I
think that if you, you know, ifyou're really that that analysis
, paralysis and stuff, like you,you have to give a lot of
credit to your intuition.
I know this is always a veryvague topic, but I mean, if
you're one of the biggestdifferences in entrepreneurship
(40:10):
and if you stacked entrepreneurstogether, is their enthusiasm
for what they're doing?
Yep, are they opportunistic?
Can they see the vision energy?
The energy that they're goingto bring to the table is really
the magic bullet, I think, froman entrepreneurial perspective.
And so, if your intuition isjust pushing you to go do
something and you feel that thathas a lot of credibility to it,
(40:34):
and even as you started doingyour analysis and your second
guessing and whatever duringyour gestation period, yeah, if
you can feel that dropping offreally quickly and staying
dropped off, yeah, you know, for, like I would say, give it 24,
give it 24, 48 hours.
Like, yeah, there's, like I wasnoticing just the other day,
like I go through these, likethere is no, oh, it's just this
(41:02):
nice little curve that goes up,you know, and I'm always excited
and happy.
Hell, no, dude, it's like adude.
Yeah, it's a heartbeat, right,of course, that rhythm.
And like there's really lowlows and really high highs, and
you know, but if I got down thatreally low, low and I was super
logical about it, then I wouldthink that that's where it ends.
But no, no, what I do a lot oftimes I either I go get my mind
(41:22):
off of it or whatever right, andthen I go to sleep, get some
clarity, get some, and thenprocess and then back up.
You know, I know that that andso, like, if you're in a
gestation period and especiallyif you're new entrepreneur and
you can't expect it to be 100%hot, you know, and then all of a
sudden you go to this low aboutit and you don't, and you just
(41:45):
quit the idea.
Yeah, like you need to give alittle.
You need to give it 24, 48hours, man, good point, you know
.
Yeah, or else you'll kill youridea.
Or if you've been excited aboutit this whole time, then all of
a sudden you're, you talk tosomebody that that freaking buzz
kills everything a lot of.
That's not your answer.
Speaker 1 (42:03):
You can't look at that as your answer.
It's just the personality issueof the person.
You know, if you think about it, it's just like a relationship.
You could have a goodrelationship and then somebody
does something that's bad.
You can either completely writethem off and say I'll never
talk with them again or, youknow, you go think about it, you
let a little time pass, yeah,maybe it's really not that big a
(42:24):
deal, your perspective changeson it and you still carry on
with your relationship right,such a good analogy.
It really is.
Speaker 2 (42:32):
It's just like that it really is like that.
I mean, you're gonna haveproblems.
You know you're going to.
You're going to have problems.
You're going to second guesswhat you've always believed.
Speaker 1 (42:43):
Yeah, no, but your personality determines how you
respond to that.
Yeah, okay, because there arepeople who will just write
people off and they're done, orthey'll just, as you said,
somebody says something badabout this business, one person,
they give up on it.
I mean, you know what thisreminds me of.
It's something I've really beenthinking a lot about and this
(43:03):
could be a topic for anothershow.
Speaker 4 (43:06):
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Speaker 1 (43:21):
It's what I call relentless marketing, and it
goes back to the idea.
You know what a fan I am ofe-marketing.
I like to send out a lot ofemails, right yeah, I get one
person that says I'm going todelete.
Don't send me so damn manyemails, I'm going to write you
off, I'm never going to dobusiness with you again.
Stop all emails, stop allemails.
(43:43):
Stop.
You know, or 40 people boughtour shit today.
Why is this guy gonna ruin myparty?
A lot of people, a lot ofpeople in business, business
owners, business founders letthat one guy you're guy stop
them.
They'll stop.
Oh yeah, I guess we can'tmarket like that.
Speaker 2 (44:10):
Let's send one email out a month from now on.
Okay, and that's a good example, because I just actually had a
conversation earlier aboutsomething like this.
We have one person complain,which we want to respect.
You know, we want to respectthat.
Yeah, 600% Sure we were talkingabout changing a process for the
entire organization Based onone person's feedback.
Wait a minute.
Like I don't want to bottleneckthe team, I don't want our team
(44:33):
hesitant, yeah, Like we don'twant to hurt the confidence of
our team because one person likehow and so, instead of having a
you know a checkbox as we willnot do X, Y and Z we're going to
have a checkbox of what wouldyou not like us to do?
You tell us, because you knowwe're not going to stop this one
(44:56):
part of the process to crossthe entire company.
Right, We'll stop the oneinstance of the process to cross
the entire company, right, butwe'll stop the one instance for
you, for you yeah, exactly Ilike
Speaker 1 (45:05):
that yeah, yeah, so that makes sense.
Yeah, that's like us.
You can opt out right of theemail and we're still sending
out 50 000 emails today.
But you can opt out.
Yeah, you have a choice.
Yes, but make that good, makeit so it actually works.
If they do opt out, they don'tkeep getting emails from you for
the next 30 days.
Well, that list was downloadedthrough our system 30 days.
(45:26):
You know, I hate stuff likethat.
Speaker 2 (45:28):
Yeah.
I've changed that?
What you don't ever do is stopsending emails, yeah exactly
that's just devastating.
It's just.
It's so stupid You've got to bereally careful not to.
This is my relentless marketing.
Yeah.
Speaker 1 (45:41):
I can detail it for you, I can tell you all about it
.
Yeah, man, it's it.
It's like that's what gives meconfidence in a, in a business,
compared to a lot of otherpeople.
I know I will do the hard workto do the marketing consistently
in all the ways it needs to bedone to make that business
(46:02):
succeed.
And I know marketing works.
So there you go.
Speaker 2 (46:07):
Market yourself to success.
Exactly, Dude, that was forsure the biggest thing that
helped our old company WhiteSpot.
We were just relentless.
We were always showing up.
Speaker 1 (46:20):
We were always just up, we were always just constant
work yes, yes, to get out thefront because you're a good
seller too.
It's marketing and selling.
Yeah, two different.
Speaker 2 (46:30):
But related things.
Well, I call it like I'veidentified it, as campaigning.
Speaker 3 (46:35):
Yeah campaigner like right paul, if you can think of
as a politician.
Speaker 2 (46:38):
Yeah, you're always, can't always campaigning.
Speaker 1 (46:40):
Always campaigning, shaking hands, kissing babies,
baby.
The election just was over, butit doesn't matter.
Speaker 2 (46:44):
Four years.
There's going to be another one, so we're going, that's right.
Speaker 1 (46:48):
Resilience in that campaign.
Yeah, no, you're right.
So this is an interesting topic.
I hope that people gotsomething out of it?
Speaker 2 (47:01):
I hope so too, because one of these bullets how
do you know when you're reallyready to launch a business?
Again, I think that there'sintuition and the energy behind
it, and I don't know that youwill ever know if you're ready
or if a business is ready to belaunched.
It's like do you know when youshould have a baby?
Do you really know that?
No, you just have the baby andyou have to be.
(47:25):
You know a lot of this.
Again, like as a newentrepreneur.
Speaker 1 (47:30):
Jump in, you'll learn along the way.
Speaker 2 (47:31):
You've got to take the step, man I know it's so
true, that's hard for a lot ofpeople and I've seen a lot more
people talk themselves out ofdoing business than I have seen
people that, oh, it's most ofthe time they do.
And then a lot of times I'veseen the people that step into
it that immediately startbackpedaling and they don't give
themselves that time to gothrough those those.
(47:52):
Yeah, and that's bad too,because they've been taught that
business is supposed to do this.
If it's not the accountants, ifit's not, no, I wouldn't do
that business.
They're like are you in aprofit?
Speaker 1 (48:04):
that's why they're accountants, exactly okay
exactly I'll never forget my, myaccountant, fred, fred white
and I had early in the days.
It's like white, you know, andI'm sure I probably told this
story before, but he sits back.
He's like well, mark, fred, youstroke his beard or you know
(48:25):
his chin and chew on his glassesor whatever.
You guys should have each takenout like another two, 250,000 a
year out of this business thisyear and like Bob, how many
employees do you have Now?
First I said how long have youbeen in business?
He said 20 years.
How many employees do you haveNow?
First I said how long have youbeen in business?
He said 20 years.
How many employees do you have?
He goes counting myself and myfamily members yeah, five.
(48:48):
Okay, I said, bob, you don'tknow shit about how to grow a
business.
Okay, don't tell me we'releaving money in the business so
we can grow the business.
Okay, it the purpose of it'snot to just suck as much out of
it as we can every year.
(49:08):
That's so true.
I'm just saying it's just thegreatest, yeah, greatest example
of that it's exactly whathappened, you know, yeah, he's
got his wife, he's got hisdaughter, he's got like his
nephew and himself, and thenmaybe one other dude oh, you
know, they're self-protectingthemselves in their business.
Yeah, they're just growing itthey're just, they're trying to
(49:29):
make x dollars a year and make aliving off of it.
That's, that's not fun, okay,oh, it's not, it's, it's just
not.
I don't know how some people dothat.
But yeah, there's alwaysreasons why you won't start it.
The the intuition is critical,you know, it's still true.
The human brain is still betterthan any computer.
No computer can replace thehuman brain, yet it may be able
(49:52):
to someday.
Computers have a lot ofinformation that you don't have,
but the ability to make adecision.
That's where we can synthesizeall that, and I would even.
Speaker 2 (50:05):
I would add to that an ability to make an emotional
decision.
Yeah, because what's gonnahappen is the numbers won't make
sense.
I know it.
All the threats will becompounding yes, the problems
like we talked about in thebeginning, are going to rise up
every freaking day.
It doesn't make sense to start abusiness when you can safely
(50:28):
receive a paycheck for working Xamount of hours and you get
that and you save X percent forretirement.
This formula Entrepreneurism,does not make sense logically.
It's a true to's true when youtry to do that.
That's why, like it's reallyhard for an entrepreneur, you
(50:49):
know is like a wolf and theinvestors like a horse.
Investors are afraid aboutgetting eaten, the wolves are
looking for where the next mealis and there's this tension
there.
But that wolf, thatentrepreneur spirit, like that
is real and it's very muchemotional.
It's about taking that step outinto the wild.
Speaker 1 (51:11):
Yep.
The more you do it, obviously,the more confidence you build.
Speaker 2 (51:15):
Yeah, I would say the more, don't you think?
Well, I think that in some ways, I think that sometimes my
confidence like I was it's funnyI was driving this morning
thinking about confidence but Ithink it's more of the comfort
that I have in the decision.
Yeah, Like I've stepped backout, but I know everything's
going to be okay.
Speaker 1 (51:34):
Yeah, you're going to survive.
Yeah, yeah, I get it.
Yeah, one way or another.
Yeah, yeah, I get it.
Yeah, one way or another.
Yeah right yeah, yeah, rightdon't want to be moving back
into your 1500 square foot ranchover in west fayetteville
rental neighborhood.
Speaker 3 (51:48):
Right, I don't want to, but if it happens, I'll be
out of the world, yeah I know Ialways think like that too.
Speaker 1 (51:54):
I even go back to like trailer living in my mobile
home court.
You know it wasn't that bad, itreally you know, I had the gal
next door who was, uh, at thetime she was 35 and had multiple
kids and grandkids already.
But you know, if I was hungryand I didn't have any money, I'd
go over there and she'd give mesome dinner.
What's pretty nice, good setupyou know, I'm just saying it
(52:19):
really wasn't bad.
Speaker 2 (52:20):
No, our basic needs are they're not that hard to
meet Really not man.
Especially if you get outsideand you walk around and go talk
to people, you can usually findsome pretty good help really
quick.
Speaker 1 (52:33):
And then, on the other hand, I think all the time
like how do people afford tolive?
We spend so much money that itblows my mind.
It's just like money, money,money, money, money, money.
Every day, everything,everything costs.
It is crazy.
I don't know how people couldafford it.
Speaker 2 (52:52):
You know either well, I, you know it's, it's.
I don't either.
I mean it's like I mean biggiesmalls.
One greatest genius is mo'money, more problems.
I mean it's just like it's notlike you get to some point and
everything's just taken care of,because it just becomes more
and more issues to worry about.
Speaker 1 (53:14):
Yeah, it's like the green roof on our gym at our
house was the first Ozark greenroof installed in the state.
Evidently marlin blackwelldesigned it, yeah.
But anyway it's like yeah, Igotta have the green roof people
come and weed it.
Then I get the annualmaintenance agreement from the
green roof people.
Now I've got the.
We're going to install anirrigation system on your roof.
(53:35):
Proposal from the green roofpeople.
Speaker 2 (53:38):
There's a hand and she looked it's just like just
hands coming in the secondthousands of dollars just run
out just daily daily, dailydaily.
Speaker 1 (53:53):
It's just.
And my kids, it's just like.
I need money for this.
I need money for that.
I need a camp deposit.
I want to go to the dogtraining thing.
I gotta have tuition, I gottahave sorority.
Speaker 2 (54:02):
It's just like makes you just work more.
Speaker 1 (54:07):
Buy me a new car.
It's just that the it really isI don't know how people do it.
I mean, they're really um, youknow, I know a lot of people are
struggling, but they stillmanage to start businesses.
Yeah, even in spite of all that.
Speaker 2 (54:23):
Because you know, you know, I think it honestly goes
back Like I think about that alot, like you really don't need
much.
Speaker 1 (54:32):
No, not to start a service business.
You don't.
Speaker 2 (54:35):
That's a fact, you really don't need much.
Now.
If you had certain things, yeah, it could be, but I don't know.
It'd be easier, it's justfaster.
Yeah, you grow it faster.
It's faster, it's not easier.
I've learned that lesson, yeahyou know I mean like it's so,
it's so like you.
But again it comes down.
Do you have the will and theemotional and the intuition to,
(54:58):
to take the step?
Speaker 1 (55:00):
I, I think you know part of it is in our culture and
our we're all so comfortable.
Oh, I'm not saying everybody'sgot everything they want, but
I'm I'm just saying, you know, Ilook at like the first
generation, um, hispanicimmigrants, yeah, or here in
northwest arkansas, and how manyof them own businesses, and I
(55:20):
get to know these people and Ifind out what their backgrounds
were.
Some of them were pretty tough,okay, and they come over here,
like one guy grew up out in arural area, had nothing.
They had no running water, noelectricity, dirt floor in their
house.
Yeah, it's a concrete companynow.
Yeah, and you know he's got.
He owns his own house, he's gotan RV, he's got multiple cars.
(55:43):
His kids have cars Freakingawesome man, you know, I mean
it's just.
You know another, my landscapercame from rural El Salvador.
He's got a big house with apool, all right.
He's got a big warehouse hejust built.
He's probably got 30 guysworking for him, just their
(56:03):
perspective.
They really started out withnothing I guess, what I'm saying
is to them you couldn't get anymore if they fail.
They wouldn't be any worse off.
They'd probably still be betteroff.
They could go get a job workingfor somebody else in this
country that's right and dobetter than they did in mexico
or rural mexico, or rural elsalvador.
So I guess, you know, maybe itseems less risky for them
(56:28):
somehow, but they still managedto pull it off with no money and
it just they just worked, theyjust do it.
Speaker 2 (56:34):
What if they didn't make the decision to start his
own concrete business?
You know, he just like I mean,but like you've got to take that
step, man, that's it.
And and I don't know, like, Imean I think about it all the
time.
I got all these differentthings going on.
I mean, like, which ones?
You know?
Is one gonna fail?
Is one, you know?
I mean what?
What's gonna happen?
Four of them, I don't know.
Yeah, you know, but you can't,like I just you just gotta keep
(56:57):
stepping, just keep step,because you don't really know,
you can't predict the outcome.
Speaker 1 (57:02):
Yeah, you're not going to climb the mountain.
If you climbed the mountainbefore, right, you know what I
mean.
What's the point of that, right?
Yeah, so no, you don't know forsure you're going to be able to
.
Yeah, but you're still going totry.
You've got to step out.
So, people, once again, you gotto step out, you got to do it.
(57:24):
Entrepreneurship is more doingthan it is planning.
Speaker 2 (57:27):
that's beautiful that's so true it's.
Speaker 1 (57:31):
You can be a planner and fantasizer and entrepreneur,
or you can be a doer and ajumper in her and a entrepreneur
.
It's really true.
The choice is yours.
It's really true.
So you're not going to win thelottery unless you buy lottery
tickets.
Yeah man.
You're not going to be asuccessful business owner unless
(57:52):
you become a business owner.
To start Right, all right,anything else.
Speaker 2 (58:00):
No, that's a great.
I don't want to mess that up.
Man, you dropped the mic on theloan.
Speaker 1 (58:04):
Okay, well, my mic is still here, so I guess we can
wrap this up.
Let's do it.
And once again, um check yourvoice is getting deep and sexy
check.
Check us out atwwwbigtalkaboutsmallbusinesscom.
Yes, sir.
Speaker 2 (58:22):
And this has been another episode of Big Talk.
Speaker 1 (58:26):
About Small Businesses.
Speaker 3 (58:37):
Thanks for tuning into this episode of Big Talk
About Small Business.
If you have any questions orideas for upcoming shows, be
sure to head over to our website,
wwwbigtalkaboutsmallbusinesscomand click on the Ask the Host
button for the chance to haveyour questions answered on the
show.
Stay connected with us onLinkedIn at Big Talk about Small
(58:58):
Business and be sure to headover to our website to read
articles, browse episodes andask questions about upcoming
shows.
Yeah, you're not going to climb the mountain.
If you climbed the mountainbefore, right, you know what I
mean.
Yeah, what's the point of thatthen?
Right, yeah, yeah, so no, youdon't know for sure you're going
to be able to.
Yeah, but you're still going totry.
Once again, you got to step out.
You got to do it.
Entrepreneurship is more doingthan it is planning.
(00:20):
That's beautiful.
Speaker 2 (00:26):
That than it is planning, that's beautiful,
that's so true.
Speaker 1 (00:34):
This is another episode of Big Talk, big Talk
about the small business, aboutsmall businesses.
Speaker 2 (00:43):
That's a good one.
It gets better every time,every time I.
Speaker 1 (00:48):
I was just telling eric as I sat down this morning.
Every day, I reflect back onsomething that eric has said,
either on this show or out ofthis show, whether it's his
stance on walmart and how, everytime I order from Amazon, I'm
I'm, you know, taking food outof the mouths of babes.
(01:08):
Or or his great quote I wasthinking about this morning at 5
.
It was that business is just abunch of problems.
Yeah, it's so true.
They're either good or bad.
Speaker 2 (01:22):
Yeah, they're not all good and they're not all good,
cause they're either good or bad.
I'm just like waiting for thenext problem, like when's the
next?
Is it good problem or badproblem, are we supposed?
Speaker 1 (01:32):
to say all problems are opportunities.
Eric, just like all failure isgood, we can learn from no.
Speaker 2 (01:37):
No not all problems are opportunities.
They're freaking.
Drag.
Vacuum sucks of hell, you knowthat's the truth.
Speaker 1 (01:44):
Sometimes it's just like, oh my god, I can't, and
especially recurring ones.
Oh, why am I having the?
Speaker 2 (01:49):
same problem again all the time, every day I do.
I'm like how is that not clear?
My, my biggest problem,honestly, is clarity, and I
don't know how else toarticulate.
And I'm actually.
I was going to the bathroom forthe show earlier, yeah, and I
was thinking, yeah, it was likeI do my best thinking in the
bathroom yeah and shower.
(02:11):
And I was like why, how do, howcan I improve on articulating
vision?
Mm-hmm, you know what I'msaying?
Because I think that, as anentrepreneur, we don't realize
that not everyone sees.
Speaker 1 (02:27):
They don't put it all together, they can't visualize
from where you are now to whereyou're trying to go.
Speaker 2 (02:31):
Yeah, and that's all I can see so clearly.
It's just like it's so clear,yes, and I don't understand that
maybe everybody else around methat I work with don't see and
obviously they don't see theexact same thing I see, because
we're all different, but mybrain doesn't register that
there's a gap there, and so,therefore, all I do is talk and
(02:54):
talk, and talk, and talk, andtalk until I want to blow my
freaking brains out.
Speaker 1 (02:59):
I know you sound a little repetitive.
It's like haven't I said this amillion times before.
Yeah, and then I get excited.
It's like haven't I said this amillion times before.
Speaker 2 (03:05):
Yeah, and then I get excited, like literally.
I'll tell my wife sometimes I'mlike I almost passed out today
again in a meeting.
She's like what do you mean?
I'm like, well, I talked and Igot so excited and the
adrenaline starts rolling.
Yeah.
And then my heart starts racingand I don't breathe while I'm
talking.
Speaker 1 (03:29):
And I literally feel lightheaded.
While I'm talking, you're sointo it, you forget to breathe,
I forget to breathe.
Speaker 2 (03:34):
And then I'm like, oh , why am I feeling this way?
And they're like, oh, that'sright, because I didn't breathe
and I got excited.
Well, you know, makes totalsense.
It doesn't make sense.
Speaker 1 (03:43):
Yeah, I mean, half the time I feel like I'm going
to pass out, but it's justbecause I stand up, ok, that's
what happens when you're 67years old.
You stand up, yeah, and youstart to feel like you're going
to pass, ok, but but no, I getit.
I mean, that's not really thetopic of the show today, but I
(04:07):
do think it's relevant because,I mean, I deal with this in
every business I'm a part of,and I think the problem a lot of
times is, you know well,sometimes it's that people just
aren't very intelligent, butmost of the time that's not the
case.
Most of the time it's.
It's really a matter of theydon't have your perspective.
They don't have yourperspective, they don't have
your experience.
Their, their perspective isformed based on their experience
(04:29):
and their experience doesn'tinclude yeah, this end state
that you're trying to get to.
Yeah, don't you think?
Speaker 2 (04:39):
totally no, 100 percent like it's.
You know, and I think that alot of folks like they're not
opportunistic.
You know they're not glasseshalf full.
They're not seeing the lightRight.
You know, and I began torecognize that over the over,
(04:59):
like I started empathizing alittle bit that you know, not
about the people's problems, buttheir perspective of their life
, exactly, and like what is likeeven the meaning of life to
them, like I mean it's troublingbecause I mean I think that a
lot of folks wake up with thenegativity and they carry that
negativity and they're justwaiting on something else to
(05:23):
make them happy.
Speaker 3 (05:24):
Yeah.
Speaker 1 (05:25):
And, like you've always said, we are meant to
work, we are meant to create,yeah, war zone.
Okay, that's what you alwayssay.
It's another one of the thingsyou say all the time.
We're designed to work.
We are, but it's true.
But see, some people think workis to be avoided and only thing
that's going to make me happyis buying this or going on this
trip, or having the weekend, orgoing out and getting hammered
(05:47):
tonight or whatever.
Yeah, those things never makeyou happy.
No, accomplishment makes youhappy.
Accomplishment's the only thingthat comes from the work and
the work and the labor.
Speaker 2 (05:57):
Yeah, real quick on this.
I was constantly studyingwhat's going on with AI and
agentic and all this type ofstuff, but I've watched a video
where Elon was talking and Idon't know how many people
caught this truth but he wassaying that there will be a day
when there's no work needed tobe done because of agentic and
(06:20):
AI.
But it's this world.
You have everything you want,like like almost money isn't
anymore because it's allprovided agentically.
Sure he goes, but that's youknow.
That sounds great, but the realproblem is is what is humanity
gonna?
How are they going to reactwhen they don't work?
yeah, because and he even saysit's like misdirection.
(06:42):
Work is a major part ofsatisfaction, is is one of the
primary points of satisfactionand I mean, I don't know, that's
my big concern.
Speaker 1 (06:50):
You take that away.
It's a really good point.
Speaker 2 (06:52):
Yeah, it's like what is your purpose?
Because you know purpose, likewhat else I mean?
Anyway, I mean, I just feltlike that I don't know that back
to the point, like that peopledon't identify a purpose in why
they're walking.
Speaker 1 (07:09):
They're walking into work.
Why they're going to work?
Well, their purpose is to makemoney so they can live in their
mind.
Speaker 2 (07:14):
Yeah, and then take vacations and have more time off
.
Speaker 1 (07:16):
Right Like that's not a good direction.
It's not a good direction.
You said it.
The direction needs to be toaccomplish something.
Yeah, but if they haven't hadthat perspective, then the
vision doesn't really meananything.
Speaker 2 (07:31):
Right.
They can't catch on to what'sbeing said by the entrepreneur
of where.
Here's where we're going.
This is why we need to whenthey don't believe it's possible
.
Speaker 1 (07:41):
Oh God, Okay, that's the other thing.
Maybe they can catch on to whatyou're saying.
How many, I mean it's likedon't believe it's possible.
Speaker 2 (07:49):
Has it been proven in history that so many things are
possible.
If it wasn't for those folksthat are driving possibility and
opportunity like we, would notadvance as human beings.
We would still be trying tomake a fire All progress is made
by unreasonable men.
Speaker 1 (08:05):
Have you ever heard that?
No, but it's true though.
But it's like they'reunreasonable, they don't accept
the status quo.
They believe that you can gosomewhere else, and so do
something else.
Speaker 2 (08:17):
I guess it's the doubt that, like I don't know
how many times you'veexperienced this, but I'll be
talking to the team and I'mlooking around and everybody is
looking at me like I'm eithercrazy, I've lost my mind.
Yeah.
I experience that a lot Intotal disbelief.
And then you zone out and I'mlike give me some feedback here.
Folks, like I'm going to keeptalking, saying the same thing
(08:39):
over and over again and gettingmore excited, until you look at
me and go, oh yeah, I want tosee a smile man let's go.
Speaker 1 (08:46):
Yeah, it makes total sense.
I mean, you're in a differentposition than me because you've
got businesses that you'retrying to to grow, that you are
the head of.
I am behind the scenes thesedays.
Yeah, okay, I'm the guy backthere trying to get stuff done
without being the public face.
Yeah, and, and it's, believe me, it's a different role than
(09:08):
what I'm used to.
Just, what's the frustratingthing on that side?
Because I can't directly.
I have to communicate thesethings through other people,
okay, and they don't always getit themselves, or they don't
articulate it the same way I do.
Okay, they, they, they're,they're too soft yeah they don't
get excited enough.
(09:29):
Yeah, you know what?
Speaker 2 (09:30):
I'm talking about.
Oh, I do, man, I could like theidea of of having to um
communicate through someone else, basically, basically brokering
your vision and what needs tobe done.
That's challenging.
Speaker 1 (09:45):
It really is.
I mean, you know how it used tobe when you and I worked
together.
It's exciting right Now.
Some people don't like it.
I'm sure our style does makesome people nervous.
Oh sure they just think thatyou're crazy or you're
unpredictable, or whatever.
Speaker 2 (10:02):
Out of our mind, don't know what we're talking
about.
Old in the way.
Speaker 1 (10:06):
Yeah, hip shooting.
Don't have enough data Datadriving our decisions.
All decisions must be datadriven.
I love that.
No, no, that's not true.
Speaker 2 (10:17):
Don't think that baby .
Speaker 1 (10:26):
Well, anyway, this is a fun topic and I can empathize
with you, because I do know howcritical it is to get that
vision across and get people toreally believe that it's
possible.
Then they will act accordingly.
But today we're going to talk alittle bit about something that
it's a term that I used in oneof the short chapters of my book
, confessions of an Entrepreneur, and that is the gestation
(10:49):
period for a business and theimportance of that.
Okay, now, before the showstarted, you were asking, like
you're sort of questioning, yeah, what, whether you need that,
what's that?
Speaker 2 (11:03):
well, what, what is this?
What is this gestation?
Speaker 1 (11:07):
the gestation period is is from the the time between
when you really have your ideafor your business and it's
formed.
It's more than just like aproduct idea, it's an idea for a
business.
Okay, it's formed.
It's more than just like aproduct idea.
It's an idea for a business.
It's formed in your mind.
The period between that timeand the time you actually start
(11:28):
it I mean it doesn't have to belong, it could- be long.
My experience is, the longer itis, the less likely it is you'll
start the business.
That could be good or bad.
It's good if you made a gooddecision not to start it is.
You'll start the business.
Okay, that could be good or bad, yeah.
Okay, it's good if you made agood decision not to start it
because it was not going to work, got it?
It's bad if you delayed and youmissed the opportunity in front
(11:49):
of you.
Yeah, but I guess my wholepremise when I put this in the
book was that sometimes thingsdo get a little better with a
little more time spent onthinking them out, not
necessarily to say I'm not goingto do it.
That's one possible outcome,but maybe it changes, maybe it
(12:11):
morphs in some way.
Maybe you change the way youthink how you're going to
monetize this or how you'regoing to sell this or what this
is.
Yeah, that that time can bevery helpful.
Do you believe that?
Or what do you think about?
Speaker 2 (12:30):
that.
Well, I'm just thinking aboutthe whole and to the audience,
just so you know.
I'm like, really, I was reallyignorant of this term, right, I
forgot about it.
I forgot about that term in yourbook you know when I read it
before, and it's a confusingphase in my brain because I'm
(12:51):
trying to separate.
So action oriented, yeah, I'mtrying to separate like what is
like.
I can look back and say Ireally wish I would have spent
more time on some ideas that Ihad.
But a lot of times whenever Ihave an idea there's an
immediate go into business.
I don't fart around too muchabout.
Speaker 1 (13:12):
Right.
Well, you rush to the MVP.
Yes, right.
As fast as you can Withoutthinking the minimum viable
product and then see if somebodywants to buy it.
Yeah, yeah, yeah, I guess.
So yeah, and in the course ofthat, though, you might still
refine it.
Speaker 2 (13:26):
Let's be honest.
No, well, the thing is it'sconstantly in refining.
But to your point, I guess thatthere's a.
If I have an idea, the veryfirst thing I do is I talk to
potential clients about itexactly get their feedback and
reaction if they get excited andlike it.
That's good I'm yeah, and I'mjust so.
(13:48):
And then I go to another oneand they have the same reaction,
like boom, this is a product,this is a business, yes, let's
go to market now.
It's just a matter of how do weexecute it.
And yes, the right painting onit and the right numbers and
then just go, go, go, go, go go.
I am with you so much on that.
So I'm wondering, like I guessthat is kind of because I will.
But again I would say that theamount of time that I'm in that
(14:12):
part is really more about howfast can I like what's the delay
in my client meet or aprospective client meeting with
me so I can have that feedback?
If it takes them two weeks,then I probably might not even
meet with them.
I might meet with other ones,the audibles, because I'm
pushing as fast as I can BecauseI'm excited about the idea, but
(14:34):
I'm really excited to know ifit's a legit idea, if it's a
sellable idea.
So I'm like really poweringthrough to get my answer as fast
as possible, because the longerthat I delay on getting this
business out to market, the moreopportunity it is for a
competitor to come in.
Yeah, freaking still, thethunder of which really pisses
me off.
Yep, you know what I'm saying.
(14:56):
Yes and so well again.
Speaker 1 (14:58):
I mean, I do think to a certain extent, like the
kinds of businesses that youlike to create are ones that are
all new.
Yeah, okay, that's what you'reinto.
I mean in the past you hadexperience going into mature
industries.
Okay, you did that too.
Yeah, but you swing for thehome run, yeah.
Yeah, you don't go up there andtry to hit singles and doubles
(15:23):
I'm usually pretty happy withthose you know a double is
pretty good.
Yeah, I'm usually happy withthat, but but that is a
difference, I think.
You know, when you're talkingabout something that's an all
new invention, new business type, um, maybe the timing is more
critical.
On the other hand, I could saythe timing is more critical.
On the other hand, I could saythe feedback is also more
critical.
Speaker 2 (15:42):
Right Dude, 100%, because you don't know whether
people are going to want this atall.
You know I've talked.
You know there's been ideasthat I've had, that I've talked
to some prospective clientswhich, by the way, are the
number one people to talk to.
I don't go talk to freakingattorneys and accountants.
(16:03):
God on planet earth is anaccountant.
Yeah, they're so a lot of timesI don't talk to my wife about it
because she's usually you know,but I will say that she has
some very instinctual truth thatI can't seem to understand how,
but she's been right, veryright about certain things that
women are generally better.
In that regard, I have a lot ofrespect for it.
(16:24):
Now, yeah, like, I mean like,if, if, like, and I have a lot
of respect when she's like oh no, I like that, go right, it's
like that's really encouragingyou know exactly, I get it.
But uh, you know, like, when Igo to these prospective clients,
like they're getting, thatfeedback is um to me the
pinnacle Because, like you said,there's a sparkle in the eye,
(16:46):
there's a oh, I'd like that.
That's all I need.
I don't need to understand muchmore than that from my
interview to get me out ofgestation period, I guess, and
getting into the business.
Speaker 1 (17:00):
Some people, though, I've run into more than once I
think it even came up on theshow before they're afraid to
share their idea that somebodymight quote, copy it.
I'm like what?
How in the world are you goingto get anywhere with this unless
you get some feedback frompeople who actually know?
Yeah, you know, like yourcustomer and I get that.
Speaker 2 (17:24):
I think that that's a little bit of of just being new
in the game a little bitbecause, like I was, like that
at the beginning.
Yeah, just, and I was reallyworried and people have stolen.
I've had more ideas stolen fromme than I have actually gotten
them to market.
But I will tell you this thereason they were stolen from me
(17:45):
is because I had a longgestation period.
Yes, they waited too long,waited too long and I was trying
to partner.
There's a difference betweentalking to somebody about your
idea, leaving that conversationalone, or talking to somebody
about your idea.
They reel you in and then theystart trying to partner and then
they get every second all outof you and then, all of a sudden
(18:06):
, one day they've launchedsomething and it's a surprise to
you.
Yeah, that's not good.
It's not good, but that's whathappens a lot.
Now you need to be careful abouthow long you and how deep you
go with these discussions.
Like, if I have and so I thinkthat probably my model is is I
(18:26):
quickly go and I am open aboutwhat I'm doing and I share.
A lot of times I share too muchand I walk out of the meeting
going Eric, shut your freakingmouth.
Like you, don't tell everybodyyour plans.
You know that's usually myresponse to myself.
But what I do is I have onemeeting with that person and
then I I get what I need out ofit and then I go meet with
(18:47):
somebody else, but then I'm outto market.
What I don't do is continue togo back to the same person and
reshare and reanalyze right, Ihear what you're saying.
You know I don't need all that.
Speaker 1 (18:56):
Then they're taking ownership yeah, yeah, then it
because then you're saying Idon't need all that.
Speaker 2 (18:59):
Then they're taking ownership, yeah, yeah.
Then you're giving them wingsto fly yeah, you got to be
careful with that.
That makes sense.
And then speed to marketdisrupting.
And then also, I like it when Ido start something and I see
the gapers come up to thesurface who have stolen an idea.
(19:21):
And you know it was thembecause you talked to them.
They didn't even know they hada spark on the line when you
talked to them the first time.
And then here they are a monthlater doing the exact same thing
that you have already launchedand you can see them gaping on
you.
I like that because it gives mea lot of energy, makes me, makes
the you know the sportscompetition rise up in the blood
(19:43):
and I can find that extraenergy, or I can have this extra
energy to conquer yet anotherproblem that happens to me.
You know what I'm saying.
So there's a lot of emotionalenergy that comes in.
So, to your point, you need tobe a little cautious about how
much you talk to people and whoyou're often talking to, but you
(20:06):
should be cautious about nottalking about the idea,
especially prospective clients.
You've got to get somevalidation.
You've got to get somevalidation and then even still,
people are going to steal ideas.
But that's what business andcapitalism is all about.
It's about being first and bestright, and don't be afraid of
(20:28):
competition.
Play the game, you know whatI'm saying.
Speaker 1 (20:33):
Yeah, well, I'm in such a different world than you
for most of what I've done.
I'm not in this new inventionworld.
Yeah, you know, you and I sortof depart parted paths in 2012
or 14 or whenever.
Yeah, whenever you it.
Well, it was probably evenlater than that.
No, it was 12.
(20:53):
No, I know, but then.
But when you started out, youhad a marketing agency yeah okay
that that's not that unique oh,gotcha okay, yeah but then,
when you started deciding totransform the business into
something else, that's reallywhere we took these diversion
got it, got it, got it okay.
But you know, so in my world,I'm dealing with generally
mature industries where you'renot going to be the first one
(21:17):
there.
You're going to start somethingor you're going to buy
something, but you're going tochange it, you're going to make
it different, you're going tomake it better than what's out
there.
Yeah, you know.
So there's still a gestationperiod required in my mind for a
lot of reasons.
Like, do I really have a goodbusiness plan?
(21:37):
Am I going to be able to affordto do what I say I want to do?
Right, like, how much capitalis this really going to cost me?
Speaker 2 (21:44):
Yeah.
Speaker 1 (21:44):
And sometimes it takes some investigation and
talking to a lot of people likesuppliers, and understanding
timelines on things yeah,understanding, like what you can
get financing for and what youcan't.
You know what I'm saying.
You can have the idea and it'spretty well fleshed out in your
mind, but until you get intosome of those details, you can't
(22:07):
see whether or not either youcan do it or you'll want to do
it.
You know so I had a businessplan that my wife and I came up
with, um, and we and we.
we had a pretty well thought outum prior to COVID, right, you
know it was immediately beforeCOVID, and then when COVID hit,
(22:30):
um, and it was a good plan.
I think it would have beenviable.
I don't know that it would havebeen a home run, but it
might've turned into one, butlet's say it would have been a
at least a double yeah.
But after COVID hit and youstarted seeing everything
retract and pull in, it reallymade me rethink.
(22:52):
And then I thought, holy cow,plus, we didn't know a lot about
COVID.
Yeah, I thought what happens ifI keel over from this?
True, yeah, and I'd leave mywife holding the bag with this
other business on top of theother ones that she's got to
deal with.
Yeah, ours, yeah, and you knowwhere she's not going to be very
happy.
You know I'll be dead andshe'll be pissed at me, ok.
Speaker 2 (23:14):
I think about that a lot.
So you know what they're goingto do, though, sonia or Tara.
They're gonna do, though, soniaor tara, they're just gonna be
like, uh, kill it, yeah, killall of it, kill it, cash it out,
cash it out, kill it.
I don't even care about thecash, kill it they don't want
anything to do with it.
Speaker 1 (23:33):
well, in any case, I just use this as a specific
example of where thecircumstances in the external
market changed and and you know,I pulled the plug on it um,
because I had that time to thinkabout it.
I could have just acted, yeah,okay, maybe it would have been
good, maybe it wouldn't havebeen good, but the fact that I
(23:56):
had that extra time I mean thetime was critical.
It wasn't all in COVID A lot ofthat time was finding my
suppliers, getting them tocommit the prices, beating them
down, getting people who saidthey would drop ship stuff for
me instead of me.
I mean, there's a lot ofdetails to work out.
That made the business, in mymind, better than if I just said
(24:20):
let's do it, write a check, buythis stuff, have it all sent
here and then we're going tosell it all online.
It was an online-based productbusiness, yeah, yeah, so, anyway
, I do think those are twodifferent scenarios, though,
that we're talking about.
Speaker 2 (24:37):
You know, it makes me think like, which has been
something that's been realeye-opening to me in my business
career, is like there's adifference between starting
something and then second stagegrowth.
Speaker 1 (24:52):
Yeah, oh yeah, there is.
Speaker 2 (24:54):
And, man, I can start a lot of things Right and I
also think about I'm a zero to20-yard line person, and then
there's the 20 to 50.
Yeah, yeah, 20 to ends.
No, I understand that.
Speaker 1 (25:07):
I can see that with you.
Speaker 2 (25:08):
Yeah, but I mean, like this glass ceiling of
second-stage growth, of like andkind of what you're talking
about, you take that businessand you make it better, you get
it over the hump to scalability,profitability.
I love that part.
Speaker 1 (25:27):
See, I don't.
I know I believe you, butthat's fine.
I mean, it's why you got tohave partners.
No 100%, you know, becausepeople have different.
I've started plenty of stuff.
I've started like six or eightcompanies, but it's not what I
enjoy the most.
I would much rather come into asituation that's got customers
(25:49):
and employees and products orservices.
Speaker 2 (25:53):
I think that what I wish I would have known a long
time ago is that an entrepreneurand business owners like it's
just not one big bucket.
Speaker 1 (26:02):
No, and there's not one formula right.
Speaker 2 (26:04):
Yeah, there's different ways and yes, and
there's different ones fordifferent things at different
times.
Yes, right in the business andlike yes, I think it took me a
long time, because I feel likethat, as an entrepreneur, you
feel like this pressure, likewhether you are better at second
stage growth, but you stillfeel a pressure to innovate and
start up, and vice versa.
If you're a startupentrepreneur, you feel this
(26:27):
pressure to like be a CEO anddrive it to the next level.
Speaker 1 (26:30):
It's so true, and the key to success is always
focusing on what you do well,okay, yes, stop working on your
weaknesses, even though a lot ofpeople say that.
What do you mean?
Don't work.
Work on your strengths.
Yeah, get other people to fillin for your weaknesses 100
because, honestly, you don'thave enough time to work on all
(26:51):
of them.
You don't, and some things youjust may never be good at, like,
yeah, probably never going tobe a great golfer, even I never
played a lot, but it's just notyeah, it's probably never going
to be good at it, yeah and Ithink it's important for
listeners to.
Speaker 2 (27:05):
So why try to recognize that like and it's
okay and you don't, and youdon't have to be the all-in-one
right, like I mean, and therethere are some that are out
there and I mean kudos to them.
I don't know how they can bethat like, maybe when I'm 65 or
70 I'll be there, but like as oftoday, like I don't have, I
don't have, I don't have thedesire to graduate into a second
(27:30):
stage growth scalable.
Speaker 1 (27:32):
I understand that totally you know it was
interesting.
My wife and I watched a reallygood documentary the other night
.
You're gonna watch this becauseyou'd like it.
I think it was called beingWarren Buffett or Becoming
Warren Buffett.
It was his whole story, hiswhole life story.
Oh, that's cool.
You know, warren Buffett isclearly I mean the guy's
brilliant.
At one time he was the richestguy in the country.
(27:55):
He's given away most of hiswealth at this point, but it
seems like all of them do that.
A lot of them do, not all ofthem.
Some are just selfish to theend, but a lot of them do.
But in any case, the thing withWarren Buffett was it was
really interesting.
Is he's probably Asperger's wayout on the spectrum?
(28:16):
Okay, yeah, which a lot ofbrilliant people.
Look, I mean, I don't know asingle entrepreneur he's not
either adhd, dyslexic, yeah, orsomewhere on the spectrum of
autism.
They all seem to be, yeah, um,but, yeah, you may not be, you
(28:38):
you're probably adhd at aminimum.
But in any case, um with warrenbuffett, it was interesting
because basically his wife said,like there's just some things
he's never going to be good ator do.
Okay, he's just, he's reallyreally good at at numbers and
making money, yeah, but then,like, when it comes to certain
(28:59):
interpersonal things, it's justnot, it's not his bag and he's
not gonna be, and that's okay.
We just accept that about him.
Yeah, okay, I hope my wifelistens.
You should watch that that.
But but but the point, it iswhat you're saying.
I mean, not everybody's good ateverything.
You got to know what you'regood at, okay, you got to get
(29:21):
the right partners.
Yeah, different businesses haveshorter or longer gestation
periods.
I think we both agree.
The longer it is, the lesslikely you are to do it.
That's a fact.
Oh, yeah, for sure, for sure.
All the reasons come into play.
Why not to do it 100%?
If you just launch, launch,it's too late, dude that's
(29:45):
actually.
Speaker 2 (29:46):
That's one of my, that's one of my, um, I guess
personal internal strategies isit's.
It's funny.
I know that I work best underpressure.
Yeah, like, have you ever heardof the parkinson law?
Speaker 1 (30:00):
I don't remember it.
Speaker 2 (30:00):
I think I have yeah it was.
Speaker 1 (30:02):
Parkinson's Law.
It's a management principle.
Speaker 2 (30:07):
Yeah, it's like if I said do X in Y time, most people
are going to wait to the lastday to do it, and so it's you
know.
Or if it's 30 days time, you'restill going to wait.
Speaker 1 (30:19):
Right, you'll do whatever the time it work
expands to fill time.
Speaker 2 (30:23):
There you go, yeah, yeah, that's it, and it becomes
this flow state thing that weget in.
Speaker 1 (30:28):
And so, um, oh, I'm a big believer in that.
Speaker 2 (30:31):
No, I am too.
That's how I bought this wholeoperating school.
Like my daughter's goingthrough it, like she.
She is like, I mean, when itcomes to math.
Like she's like like just doesbare minimum and just kind of,
and then, but then at the endshe'd like crams it in and makes
it, it makes it all come up.
But she lives under thisintense pressure for a week
(30:52):
versus being logical andthinking about it.
Speaker 1 (30:55):
That was never my style.
I always did it all along theway.
See that's.
I went to class, did myhomework and stayed up.
Speaker 2 (31:02):
I feel like that, if you're listening to this,
knowing how you operate, innormal circumstances, to your
point, logical,non-procrastinating, yes, right,
yes, and you just continuouslydo that.
But then there's the other sideof it, like myself to where
last minute.
Speaker 1 (31:22):
My wife's like that.
She needs the deadline.
Then she just like, pours it onExactly and gets it done, gets
it across the goal line.
But it's going to be at thelast minute.
Speaker 2 (31:31):
Yeah, exactly, and this is one of my self-reliant
strategies is that's why Iprobably launch, because
immediately I'm like shoot, nowI've got to get to work.
Speaker 1 (31:39):
Yeah, it forces you Otherwise my gestation period.
Speaker 2 (31:41):
I could probably just push and push.
That's an interesting point ofview.
I can see that, and when I wasat White Spider and developing
that business, I had pushed alot of podcast videos as an idea
media ideas.
Oh, you always had ideas, yeahbut I was just always
backburning for 10 years, for adecade, just kept pushing,
pushing, pushing and as soon asthat hit the acquisition
(32:05):
timeframe, it was just like boom.
Everything was kind of.
And then I went a little nutso,like I had like 12 companies
within like three weeks, bam bam, bam, bam bam.
You can ask my bankers, theyfelt it the most because of all
the new accounts and stuff likeboom, boom, boom, boom.
But then you know it's gotten alittle slightly better and more
(32:27):
narrow.
But I think that that point islike.
You know, that's been one of mystrategies to launch really
quick, so that therefore I'm inthe weeds of it and now I have
to get at it.
Speaker 1 (32:37):
You know that strategy of business and
entrepreneurship is that you'llstart all these different things
but, like the odds are that oneof them will really hit big,
right, yeah, I mean you knowthat, yeah, 100, that's the odds
.
The other ones, you know, I'mnot saying you'll go broke, but
you may just decide to abandonit, right, yeah, so that's one
strategy.
The other strategy is that youjust do one or two things.
(33:02):
You do them really really wellyeah and, and you just focus on
that.
I've done both of those myself.
I think I probably gravitatetoward lots of things now.
Yeah, it's more interesting tome.
Yeah my attention keeps youshort, yeah, yeah and so that
keeps that just keeps youlearning and and and it's more
(33:24):
interesting.
Yeah, it's not necessarily theway to make the most money.
In my experience, I did betterwhen I did one thing and did it
really well.
Speaker 3 (33:32):
Yeah.
Speaker 1 (33:32):
And it was another um .
There was a really great videothat you should watch sometime
it's.
I can't remember the guy's lastname.
It's.
His first name is Siddharth,and Siddharth took over one of
his father's companies it wasRoyal Enfield Motorcycles when
he was like 26.
(33:53):
He didn't know anything aboutthe business at all.
He went to business school.
He was just a quote rich kid,yeah, okay, yeah, this.
They had 15 companies.
This was one of them and itwasn't doing very well at all.
In fact, it was doing reallypoorly.
Great video of how hetransformed it.
They're the largest motorcyclemanufacturer in the world today.
(34:14):
Wow, siddharth is 51 years oldnow.
But the interesting thing aboutSiddharth was, I mean, he
immersed himself in thisbusiness.
He went there, he slept on thefloor of the factory for four
years.
He moved into the factory.
He got rid of all the companycars for executives and made
them all ride their motorcyclesto work every day.
(34:35):
And then they got to see theproblems with them, which were
many.
Yeah, yeah, yeah, yeah, okay.
But these are just a lot ofthings he did.
But anyway, he did such a greatjob with it that his dad came to
him a few years later.
It's like now I want you totake over his you know ceo of
the whole thing, all thesecompanies.
He's like, okay, I'll do it,but you got to let me do what I
want to do.
(34:55):
And his dad said, yeah, you cando what you want to do.
So he got rid of uh 13 of the15 companies kept the motorcycle
business and the truck business, he goes.
I can have a whole lot ofthings that are mediocre, or I
can do a couple things thatknock the cover off the ball
where we dominate the market.
Yeah, yeah, he went with thelatter strategy.
(35:17):
There it is, but it's a greatstory.
But these are differentapproaches and I think you know
again, if you're a guy like youthat likes to create lots of
different things and then youknow odds are something's going
to hit big other ones, aren'tyou sort of decide what you're
going to be more interested inbased on what happens?
(35:39):
I've lit a bunch of fires whichone's going to flame up right,
100%, obviously.
I think that's a really good.
That's a classicentrepreneurial approach to
business creation.
Speaker 2 (35:53):
Well, because I think that when you have all those
things in the air like externalcircumstances will impact
business.
Sure it might impact this oneover here.
Yeah, you know, positively ornegatively?
Exactly, Sometimes it's positiveas you say yeah yeah, so you
roll baby, like right now, likewhen I look at my portfolio of
(36:16):
companies, I'm like man it's.
It's actually kind ofinteresting that all of them are
kind of like in this hotbed,like they're all rising up at
the same time of opportunity forbeing opportunistic.
You know, it's, it'sexhilarating time and it's
almost kind of hard for me to tochoose where I spend most of my
time on at this moment, becausethere's some but, but I know
(36:37):
that like there's like maybenext week, like one of them is
going to need all this attention.
It's like boom, go and justdive down into a sell sheet or
something on this one and giveit to the team, pass off, and
then boom over here, this one's,and they just kind of keep
feeding each other.
This, I guess, this energy ofexcitement, this, uh, I guess
(37:03):
this energy of of excitement.
You know, and, and what's alsointeresting is that I've, you
know, like you can set them upto where they may be different,
but they're all kind of in thesame vein oh, I love that where
there's some quote synergy.
Speaker 1 (37:11):
Yes, yeah, I mean I, I definitely think 100 percent
totally unrelated.
It just doesn't make any sense.
So I like to share customers,you know, people, whatever.
Yeah, like there's a better theselling this.
Help me sell that.
Speaker 2 (37:27):
And there's a central knowledge and vision coming.
Yeah, because like Siddharth,right, like he got rid of
everything except a motorcyclecompany and a car company, right
, or a truck company, right yeah.
Speaker 1 (37:46):
You might think lulls are too different, but they're
actually kind of the same, ofcourse they dealt with vehicles
and vehicle regulations.
Yeah, suppliers.
Yeah, no, you're absolutelyright.
And then that gives a lessonlearned in.
One may apply to lesson yes 100I do think having some
relationship with thesebusinesses, um, it really makes
a lot of sense versus.
I never understood these.
These like private equitygroups that just buy unrelated
businesses and then don't managethem in any way.
(38:07):
They're just financial.
That's hard Investors.
They just look strictly at thereturns.
But you know Warren Buffett didthat.
Yeah, I mean again, it justgoes to show that there's these
different formulas.
Yeah, you know, a lot of peopledon't realize he started out
buying penny stocks and dogsOkay yeah.
(38:27):
And he changed his wholeapproach to buy blue chip
companies and not interfere intheir management at all.
It's a totally differentapproach and they are unrelated,
but he doesn't interfere intheir management.
So, yeah, yeah, it didn'treally matter.
But you know he just keptsaying just focus on the
(38:48):
fundamentals.
Speaker 2 (38:49):
They got good management, they got a good
track record, they got a goodbrand yeah, big the the brand
was a is a big thing to him asfar as what I've researched.
Yeah, yeah, so there's all thesedifferent styles though right
of entrepreneurship, differentways to get into business,
different ways to approachstarting or buying a business
(39:11):
yeah, and I think it leads tothe, you know, like that
gestation period is going to bedifferent because there's
different styles, there'sdifferent people, there's
different types of businessesthat you're getting involved in.
Yeah, and so that could lookdifferent yeah, some you may
know more about.
Speaker 1 (39:26):
Yeah, right away.
Right like, if I was going togo buy an architecture
engineering firm, I think I'd beable to have a shorter
gestation period than if Iwanted to buy a restaurant 100.
I don't know anything aboutrestaurants, but I do know
architecture and engineeringfirms really well.
Yeah, yeah, so it's going to bea shorter um gestation period.
Speaker 2 (39:46):
Yeah, I think that's a good point yeah, yeah, and I
think that if you, you know, ifyou're really that that analysis
, paralysis and stuff, like you,you have to give a lot of
credit to your intuition.
I know this is always a veryvague topic, but I mean, if
you're one of the biggestdifferences in entrepreneurship
(40:10):
and if you stacked entrepreneurstogether, is their enthusiasm
for what they're doing?
Yep, are they opportunistic?
Can they see the vision energy?
The energy that they're goingto bring to the table is really
the magic bullet, I think, froman entrepreneurial perspective.
And so, if your intuition isjust pushing you to go do
something and you feel that thathas a lot of credibility to it,
(40:34):
and even as you started doingyour analysis and your second
guessing and whatever duringyour gestation period, yeah, if
you can feel that dropping offreally quickly and staying
dropped off, yeah, you know, for, like I would say, give it 24,
give it 24, 48 hours.
Like, yeah, there's, like I wasnoticing just the other day,
like I go through these, likethere is no, oh, it's just this
(41:02):
nice little curve that goes up,you know, and I'm always excited
and happy.
Hell, no, dude, it's like adude.
Yeah, it's a heartbeat, right,of course, that rhythm.
And like there's really lowlows and really high highs, and
you know, but if I got down thatreally low, low and I was super
logical about it, then I wouldthink that that's where it ends.
But no, no, what I do a lot oftimes I either I go get my mind
(41:22):
off of it or whatever right, andthen I go to sleep, get some
clarity, get some, and thenprocess and then back up.
You know, I know that that andso, like, if you're in a
gestation period and especiallyif you're new entrepreneur and
you can't expect it to be 100%hot, you know, and then all of a
sudden you go to this low aboutit and you don't, and you just
(41:45):
quit the idea.
Yeah, like you need to give alittle.
You need to give it 24, 48hours, man, good point, you know
.
Yeah, or else you'll kill youridea.
Or if you've been excited aboutit this whole time, then all of
a sudden you're, you talk tosomebody that that freaking buzz
kills everything a lot of.
That's not your answer.
Speaker 1 (42:03):
You can't look at that as your answer.
It's just the personality issueof the person.
You know, if you think about it, it's just like a relationship.
You could have a goodrelationship and then somebody
does something that's bad.
You can either completely writethem off and say I'll never
talk with them again or, youknow, you go think about it, you
let a little time pass, yeah,maybe it's really not that big a
(42:24):
deal, your perspective changeson it and you still carry on
with your relationship right,such a good analogy.
It really is.
Speaker 2 (42:32):
It's just like that it really is like that.
I mean, you're gonna haveproblems.
You know you're going to.
You're going to have problems.
You're going to second guesswhat you've always believed.
Speaker 1 (42:43):
Yeah, no, but your personality determines how you
respond to that.
Yeah, okay, because there arepeople who will just write
people off and they're done, orthey'll just, as you said,
somebody says something badabout this business, one person,
they give up on it.
I mean, you know what thisreminds me of.
It's something I've really beenthinking a lot about and this
(43:03):
could be a topic for anothershow.
Speaker 4 (43:06):
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Speaker 1 (43:21):
It's what I call relentless marketing, and it
goes back to the idea.
You know what a fan I am ofe-marketing.
I like to send out a lot ofemails, right yeah, I get one
person that says I'm going todelete.
Don't send me so damn manyemails, I'm going to write you
off, I'm never going to dobusiness with you again.
Stop all emails, stop allemails.
(43:43):
Stop.
You know, or 40 people boughtour shit today.
Why is this guy gonna ruin myparty?
A lot of people, a lot ofpeople in business, business
owners, business founders letthat one guy you're guy stop
them.
They'll stop.
Oh yeah, I guess we can'tmarket like that.
Speaker 2 (44:10):
Let's send one email out a month from now on.
Okay, and that's a good example, because I just actually had a
conversation earlier aboutsomething like this.
We have one person complain,which we want to respect.
You know, we want to respectthat.
Yeah, 600% Sure we were talkingabout changing a process for the
entire organization Based onone person's feedback.
Wait a minute.
Like I don't want to bottleneckthe team, I don't want our team
(44:33):
hesitant, yeah, Like we don'twant to hurt the confidence of
our team because one person likehow and so, instead of having a
you know a checkbox as we willnot do X, Y and Z we're going to
have a checkbox of what wouldyou not like us to do?
You tell us, because you knowwe're not going to stop this one
(44:56):
part of the process to crossthe entire company.
Right, We'll stop the oneinstance of the process to cross
the entire company, right, butwe'll stop the one instance for
you, for you yeah, exactly Ilike
Speaker 1 (45:05):
that yeah, yeah, so that makes sense.
Yeah, that's like us.
You can opt out right of theemail and we're still sending
out 50 000 emails today.
But you can opt out.
Yeah, you have a choice.
Yes, but make that good, makeit so it actually works.
If they do opt out, they don'tkeep getting emails from you for
the next 30 days.
Well, that list was downloadedthrough our system 30 days.
(45:26):
You know, I hate stuff likethat.
Speaker 2 (45:28):
Yeah.
I've changed that?
What you don't ever do is stopsending emails, yeah exactly
that's just devastating.
It's just.
It's so stupid You've got to bereally careful not to.
This is my relentless marketing.
Yeah.
Speaker 1 (45:41):
I can detail it for you, I can tell you all about it
.
Yeah, man, it's it.
It's like that's what gives meconfidence in a, in a business,
compared to a lot of otherpeople.
I know I will do the hard workto do the marketing consistently
in all the ways it needs to bedone to make that business
(46:02):
succeed.
And I know marketing works.
So there you go.
Speaker 2 (46:07):
Market yourself to success.
Exactly, Dude, that was forsure the biggest thing that
helped our old company WhiteSpot.
We were just relentless.
We were always showing up.
Speaker 1 (46:20):
We were always just up, we were always just constant
work yes, yes, to get out thefront because you're a good
seller too.
It's marketing and selling.
Yeah, two different.
Speaker 2 (46:30):
But related things.
Well, I call it like I'veidentified it, as campaigning.
Speaker 3 (46:35):
Yeah campaigner like right paul, if you can think of
as a politician.
Speaker 2 (46:38):
Yeah, you're always, can't always campaigning.
Speaker 1 (46:40):
Always campaigning, shaking hands, kissing babies,
baby.
The election just was over, butit doesn't matter.
Speaker 2 (46:44):
Four years.
There's going to be another one, so we're going, that's right.
Speaker 1 (46:48):
Resilience in that campaign.
Yeah, no, you're right.
So this is an interesting topic.
I hope that people gotsomething out of it?
Speaker 2 (47:01):
I hope so too, because one of these bullets how
do you know when you're reallyready to launch a business?
Again, I think that there'sintuition and the energy behind
it, and I don't know that youwill ever know if you're ready
or if a business is ready to belaunched.
It's like do you know when youshould have a baby?
Do you really know that?
No, you just have the baby andyou have to be.
(47:25):
You know a lot of this.
Again, like as a newentrepreneur.
Speaker 1 (47:30):
Jump in, you'll learn along the way.
Speaker 2 (47:31):
You've got to take the step, man I know it's so
true, that's hard for a lot ofpeople and I've seen a lot more
people talk themselves out ofdoing business than I have seen
people that, oh, it's most ofthe time they do.
And then a lot of times I'veseen the people that step into
it that immediately startbackpedaling and they don't give
themselves that time to gothrough those those.
(47:52):
Yeah, and that's bad too,because they've been taught that
business is supposed to do this.
If it's not the accountants, ifit's not, no, I wouldn't do
that business.
They're like are you in aprofit?
Speaker 1 (48:04):
that's why they're accountants, exactly okay
exactly I'll never forget my, myaccountant, fred, fred white
and I had early in the days.
It's like white, you know, andI'm sure I probably told this
story before, but he sits back.
He's like well, mark, fred, youstroke his beard or you know
(48:25):
his chin and chew on his glassesor whatever.
You guys should have each takenout like another two, 250,000 a
year out of this business thisyear and like Bob, how many
employees do you have Now?
First I said how long have youbeen in business?
He said 20 years.
How many employees do you haveNow?
First I said how long have youbeen in business?
He said 20 years.
How many employees do you have?
He goes counting myself and myfamily members yeah, five.
(48:48):
Okay, I said, bob, you don'tknow shit about how to grow a
business.
Okay, don't tell me we'releaving money in the business so
we can grow the business.
Okay, it the purpose of it'snot to just suck as much out of
it as we can every year.
(49:08):
That's so true.
I'm just saying it's just thegreatest, yeah, greatest example
of that it's exactly whathappened, you know, yeah, he's
got his wife, he's got hisdaughter, he's got like his
nephew and himself, and thenmaybe one other dude oh, you
know, they're self-protectingthemselves in their business.
Yeah, they're just growing itthey're just, they're trying to
(49:29):
make x dollars a year and make aliving off of it.
That's, that's not fun, okay,oh, it's not, it's, it's just
not.
I don't know how some people dothat.
But yeah, there's alwaysreasons why you won't start it.
The the intuition is critical,you know, it's still true.
The human brain is still betterthan any computer.
No computer can replace thehuman brain, yet it may be able
(49:52):
to someday.
Computers have a lot ofinformation that you don't have,
but the ability to make adecision.
That's where we can synthesizeall that, and I would even.
Speaker 2 (50:05):
I would add to that an ability to make an emotional
decision.
Yeah, because what's gonnahappen is the numbers won't make
sense.
I know it.
All the threats will becompounding yes, the problems
like we talked about in thebeginning, are going to rise up
every freaking day.
It doesn't make sense to start abusiness when you can safely
(50:28):
receive a paycheck for working Xamount of hours and you get
that and you save X percent forretirement.
This formula Entrepreneurism,does not make sense logically.
It's a true to's true when youtry to do that.
That's why, like it's reallyhard for an entrepreneur, you
(50:49):
know is like a wolf and theinvestors like a horse.
Investors are afraid aboutgetting eaten, the wolves are
looking for where the next mealis and there's this tension
there.
But that wolf, thatentrepreneur spirit, like that
is real and it's very muchemotional.
It's about taking that step outinto the wild.
Speaker 1 (51:11):
Yep.
The more you do it, obviously,the more confidence you build.
Speaker 2 (51:15):
Yeah, I would say the more, don't you think?
Well, I think that in some ways, I think that sometimes my
confidence like I was it's funnyI was driving this morning
thinking about confidence but Ithink it's more of the comfort
that I have in the decision.
Yeah, Like I've stepped backout, but I know everything's
going to be okay.
Speaker 1 (51:34):
Yeah, you're going to survive.
Yeah, yeah, I get it.
Yeah, one way or another.
Yeah, yeah, I get it.
Yeah, one way or another.
Yeah right yeah, yeah, rightdon't want to be moving back
into your 1500 square foot ranchover in west fayetteville
rental neighborhood.
Speaker 3 (51:48):
Right, I don't want to, but if it happens, I'll be
out of the world, yeah I know Ialways think like that too.
Speaker 1 (51:54):
I even go back to like trailer living in my mobile
home court.
You know it wasn't that bad, itreally you know, I had the gal
next door who was, uh, at thetime she was 35 and had multiple
kids and grandkids already.
But you know, if I was hungryand I didn't have any money, I'd
go over there and she'd give mesome dinner.
What's pretty nice, good setupyou know, I'm just saying it
(52:19):
really wasn't bad.
Speaker 2 (52:20):
No, our basic needs are they're not that hard to
meet Really not man.
Especially if you get outsideand you walk around and go talk
to people, you can usually findsome pretty good help really
quick.
Speaker 1 (52:33):
And then, on the other hand, I think all the time
like how do people afford tolive?
We spend so much money that itblows my mind.
It's just like money, money,money, money, money, money.
Every day, everything,everything costs.
It is crazy.
I don't know how people couldafford it.
Speaker 2 (52:52):
You know either well, I, you know it's, it's.
I don't either.
I mean it's like I mean biggiesmalls.
One greatest genius is mo'money, more problems.
I mean it's just like it's notlike you get to some point and
everything's just taken care of,because it just becomes more
and more issues to worry about.
Speaker 1 (53:14):
Yeah, it's like the green roof on our gym at our
house was the first Ozark greenroof installed in the state.
Evidently marlin blackwelldesigned it, yeah.
But anyway it's like yeah, Igotta have the green roof people
come and weed it.
Then I get the annualmaintenance agreement from the
green roof people.
Now I've got the.
We're going to install anirrigation system on your roof.
(53:35):
Proposal from the green roofpeople.
Speaker 2 (53:38):
There's a hand and she looked it's just like just
hands coming in the secondthousands of dollars just run
out just daily daily, dailydaily.
Speaker 1 (53:53):
It's just.
And my kids, it's just like.
I need money for this.
I need money for that.
I need a camp deposit.
I want to go to the dogtraining thing.
I gotta have tuition, I gottahave sorority.
Speaker 2 (54:02):
It's just like makes you just work more.
Speaker 1 (54:07):
Buy me a new car.
It's just that the it really isI don't know how people do it.
I mean, they're really um, youknow, I know a lot of people are
struggling, but they stillmanage to start businesses.
Yeah, even in spite of all that.
Speaker 2 (54:23):
Because you know, you know, I think it honestly goes
back Like I think about that alot, like you really don't need
much.
Speaker 1 (54:32):
No, not to start a service business.
You don't.
Speaker 2 (54:35):
That's a fact, you really don't need much.
Now.
If you had certain things, yeah, it could be, but I don't know.
It'd be easier, it's justfaster.
Yeah, you grow it faster.
It's faster, it's not easier.
I've learned that lesson, yeahyou know I mean like it's so,
it's so like you.
But again it comes down.
Do you have the will and theemotional and the intuition to,
(54:58):
to take the step?
Speaker 1 (55:00):
I, I think you know part of it is in our culture and
our we're all so comfortable.
Oh, I'm not saying everybody'sgot everything they want, but
I'm I'm just saying, you know, Ilook at like the first
generation, um, hispanicimmigrants, yeah, or here in
northwest arkansas, and how manyof them own businesses, and I
(55:20):
get to know these people and Ifind out what their backgrounds
were.
Some of them were pretty tough,okay, and they come over here,
like one guy grew up out in arural area, had nothing.
They had no running water, noelectricity, dirt floor in their
house.
Yeah, it's a concrete companynow.
Yeah, and you know he's got.
He owns his own house, he's gotan RV, he's got multiple cars.
(55:43):
His kids have cars Freakingawesome man, you know, I mean
it's just.
You know another, my landscapercame from rural El Salvador.
He's got a big house with apool, all right.
He's got a big warehouse hejust built.
He's probably got 30 guysworking for him, just their
(56:03):
perspective.
They really started out withnothing I guess, what I'm saying
is to them you couldn't get anymore if they fail.
They wouldn't be any worse off.
They'd probably still be betteroff.
They could go get a job workingfor somebody else in this
country that's right and dobetter than they did in mexico
or rural mexico, or rural elsalvador.
So I guess, you know, maybe itseems less risky for them
(56:28):
somehow, but they still managedto pull it off with no money and
it just they just worked, theyjust do it.
Speaker 2 (56:34):
What if they didn't make the decision to start his
own concrete business?
You know, he just like I mean,but like you've got to take that
step, man, that's it.
And and I don't know, like, Imean I think about it all the
time.
I got all these differentthings going on.
I mean, like, which ones?
You know?
Is one gonna fail?
Is one, you know?
I mean what?
What's gonna happen?
Four of them, I don't know.
Yeah, you know, but you can't,like I just you just gotta keep
(56:57):
stepping, just keep step,because you don't really know,
you can't predict the outcome.
Speaker 1 (57:02):
Yeah, you're not going to climb the mountain.
If you climbed the mountainbefore, right, you know what I
mean.
What's the point of that, right?
Yeah, so no, you don't know forsure you're going to be able to
.
Yeah, but you're still going totry.
You've got to step out.
So, people, once again, you gotto step out, you got to do it.
(57:24):
Entrepreneurship is more doingthan it is planning.
Speaker 2 (57:27):
that's beautiful that's so true it's.
Speaker 1 (57:31):
You can be a planner and fantasizer and entrepreneur,
or you can be a doer and ajumper in her and a entrepreneur
.
It's really true.
The choice is yours.
It's really true.
So you're not going to win thelottery unless you buy lottery
tickets.
Yeah man.
You're not going to be asuccessful business owner unless
(57:52):
you become a business owner.
To start Right, all right,anything else.
Speaker 2 (58:00):
No, that's a great.
I don't want to mess that up.
Man, you dropped the mic on theloan.
Speaker 1 (58:04):
Okay, well, my mic is still here, so I guess we can
wrap this up.
Let's do it.
And once again, um check yourvoice is getting deep and sexy
check.
Check us out atwwwbigtalkaboutsmallbusinesscom.
Yes, sir.
Speaker 2 (58:22):
And this has been another episode of Big Talk.
Speaker 1 (58:26):
About Small Businesses.
Speaker 3 (58:37):
Thanks for tuning into this episode of Big Talk
About Small Business.
If you have any questions orideas for upcoming shows, be
sure to head over to our website,
wwwbigtalkaboutsmallbusinesscomand click on the Ask the Host
button for the chance to haveyour questions answered on the
show.
Stay connected with us onLinkedIn at Big Talk about Small
(58:58):
Business and be sure to headover to our website to read
articles, browse episodes andask questions about upcoming
shows.
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