Info

Dave Lukas, The Misfit Entrepreneur_Breakthrough Entrepreneurship

The weekly podcast with serial entrepreneur, Dave M. Lukas, devoted to giving you incredibly useful and unique insight from the world's top entrepreneurs with a focus on their non-traditional methods for achieving success, their Misfit side. Misfit was created to give YOU the breakthrough entrepreneurship strategies and actionable advice to accelerate your success! The show's open format and Misfit 3 concept, combined with Dave's intuitive and engaging interview style quickly uncover each guest's key tools, tactics, and tricks that listeners can start using in their lives right now. Learn more about the show at www.misfitentrepreneur.com and become a member of Misfit Nation by signing up for the Misfit Minute, the FREE weekly email with specific resources from the week's "Misfit 3," and actionable tips and items from the world of Misfit Entrepreneurs. It is delivered every Friday to your inbox!
RSS Feed Subscribe in Apple Podcasts
2019
December
November
October
September
August
July
June
May
April
March
February
January


2018
December
November
October
September
August
July
June
May
April
March
February
January


2017
December
November
October
September
August
July
June
May
April
March
February
January


2016
December
November
October
September
August
July


All Episodes
Archives
Now displaying: 2018

The weekly podcast with serial entrepreneur, Dave M. Lukas, devoted to giving you incredibly useful and unique insight from the world's top entrepreneurs with a focus on their non-traditional methods for achieving success, their Misfit side. Misfit was created to give YOU the best, actionable advice to accelerate your success!

The show's open format and Misfit 3 concept, combined with Dave's intuitive and engaging interview style quickly uncovers each guest's key tools, tactics, and tricks that listeners can start using in their lives right now.

Learn more about the show at www.misfitentrepreneur.com and become a member of Misfit Nation by signing up for the Misfit Minute, the FREE weekly email with specific resources from the week's "Misfit 3," and actionable tips and items from the world of Misfit Entrepreneurs. It is delivered every Friday to your inbox!

Mar 21, 2018

This week’s Misfit Entrepreneur is Mitch Russo. Mitch is the president of Mindful Guidance, a company that works with high net worth individuals who want to turn their passion into revenue on the coaching side. Before that, Mitch built and sold a software company for 8 figures and was partners with Tony Robbins and Chet Holmes as the CEO of Business Breakthroughs International - which he guided to over $25 million a year in revenue. He is also the founder and host of the Your First Thousand Clients podcast.

Mitch has won many awards and has been nominated twice for the Entrepreneur of the Year award by INC Magazine. He is also the best selling author of The Invisible Organization.

Mitch knows how to scale a business and build a tribe better than anybody and I’m excited for him to share his best advice with you in this episode.

www.MitchRusso.com

Mitch grew up never really fitting in. He was a smaller kid and didn’t play sports. He was a quiet kid and didn’t get invited to parties. So, he started a rock band to meet girls. He learned a lot about himself and business, especially in how to promote and market – making the band the highest grossing rock band in the area.

Later, he found himself working for others and found jobs to be unsatisfying and would make it tough to reach financial independence. So, he started buying real estate – until his first building caught fire. But, he got up from that, dusted himself off and had great success in real estate. But, he was still working at a job until finally he had his first big idea. The idea was to build a software to solve a problem that everyone had and it became Timeslips Corporation.

At the 6:30 mark, Mitch take us through the process from of how he took Timeslips Corp from idea to success.

  • It comes down this – Mitch had a need. He had just bought a computer and he needed away to deduct it from his taxes, so he created a way to track time spent on a computer for business purposes.
  • After 9 months of work, on the day of launch, Mitch’s CPA called him to let him know the IRS had just relaxed the rules on timekeeping – which basically made their product obsolete.
  • So, they asked the question, “Is there anyone else that can use our product?” At that point they pivoted and turned the product into a time and billing system for attorneys.
  • So what they started with became something totally different and that is what became a multi-million dollar company.

How did you build and run a 300-person company from your spare bedroom?

  • First, you have to learn how to delegate – once you know how to delegate and leverage others, you can scale.
  • Business Breakthroughs was built on unique scalable systems which is what allowed it to grow.
  • If you cannot create a system for building a successful infrastructure, then you cannot run a large company.

What should people know about building and creating lasting, scalable systems?

  • There are great systems out there today – technology has made it so much easier to scale.
  • You have to be smart up front and make the foundation (software platforms, etc.) that you build your business on is one that can grow exponentially and keep up.
  • You have to do the most important roles for success in your business first and master them, so you can teach them to others.
    • You have to know how to do it, but you also need to them look for those better than you in those roles and fill yourself.
  • You have to know enough about a role, so you know it is being done well or not.

Thoughts on hiring?

  • This can depend on the position
  • The basic idea is that in the process of hiring, you must infect the recruits with the spirit of the founder and mission of the organization – the why
  • The promise of the role must be stronger than the promise of a paycheck.
  • For Mitch, no one gets hired in the company unless he speaks to them at some point – he’s looking for something that no one else is looking for, but also infect them with the vision and mission.

Mitch offers two of his articles at www.MitchRusso.com on his blog called “Salesforce 101” and “How to Hire a Sales Superstar”

Talk to us about your new business and how you are getting to your goal of 100,000 clients?

  • Mitch automated and patented the process of an accountability system for people who purchase training programs– a “Match.com” of accountability for ensuring that people work together to get the results from any program the purchase or go through.
  • The software guides and keeps each individual on track to finish and get results from a success/training program.
  • Working with a partner helps to push you is a momentum builder as you reach success milestones. This keeps people going to complete things.

At the 33-min mark, Mitch talks about building out certification programs with 3-5% of your client base and the amazing impact that type business model can have.

  • Mitch taught it to the CEO of Intuit and that is now the Quickbooks Advisor Program
  • Certification is the ascension strategy
  • Competence leads to confidence and confidence leads to success and success leads to earning income.
  • From there, it is an upward spiral.

What are the steps of creating a certification program?

  • You need 500-1000 clients to do it well
  • Planning – Setup the business model and how much you charge, where you consultants fit.
  • Build the training program with a culture program and have a solid contract
  • Train them and put them in business – but help walk them through their first few engagements to help them experience success.
  • Check out www.MyPowerTribe.com

3 keys to proper training:

  • Use verbiage and nomenclature that the world is familiar with
  • Don’t go too fast. Go at a pace where the majority can follow and learn
  • You have to incorporate real experience for people to see what you are teaching in action and do it. They can just hear it or read it.

Always remember that it all comes back to your mission and the systems you build to create it.

 

Best Quote: “Nothing is impossible, but instead it is probable…”

 

Mitch's Misfit 3:

  1. Accountability partnerships are the key to success. If you can find a partner that you can work with every week to get to your goals, you will reach them faster.
  2. Read a book every week. You must be on the hunt to acquire new information. Setup Google alerts for your industry.
  3. Network and go to big events. You are there to learn and make connections.
Mar 14, 2018

This week’s Misfit Entrepreneur is Jay Wong. Jay went from sleeping on his parents couch to running a successful media company and becoming a force of impact in the world. Jay is the host of the top-rated podcast, the Inner Changemaker, which has been ranked as the #1 self-help podcast on Itunes. He is also a top-rated speaker and was just ranked as a Top 40 Millennial influencer to follow in 2018. He speaks to audiences throughout the world on how to have an impact and inspire creativity.

I have had the chance to share the stage with Jay and can say that his emotional intelligence and awareness in the moment is tremendous. He seems to not only know what to say, but how to say it and how to connect with the audience almost immediately.

It is this deep understanding of himself and understanding of how to manifest your vision in life that really made an impact on me. Now, I want him to do it for you…

www.TheInnerChangemaker.com

Jay Wong TV (Youtube)

Jay started on his parent’s couch. Before that he was vagabonding in Asia for about 14 months. When he got back, he had nothing and had to move in with his parents. It was in his parents living room where it all started for Jay. He had no idea how to share his message and had to figure out how to share his vision and mission with the world. Through a lot of work and trial and error, he figured it out and slowly began to gain traction – and The Inner Changemaker was born.

What is a Changemaker and why are they so important in the world today?

  • It took Jay a really long time to get to the answer – he didn’t know in the beginning
  • Jay has come to realize that a changemaker is someone who is not looking to change to the world, but to become the best version of themselves so they can help and make a difference for those around them.
  • Everyone should strive to become the best version of themselves to change the world of those around you.

What did you experience vagabonding through Asia for a year + teach you about life and yourself?

  • Jay needed to exit the current world he was in – the corporate life, the partying, etc. It felt like it wasn’t where he needed to be.
  • He wanted to figure out who he was without the influence of others.
  • Jay did not speak any of the language – he had to learn Mandarin
  • Learning Mandarin was the first “impossible” thing he ever did
    • For Jay, it was his Matrix moment
  • This taught him that nothing is impossible and it is really self-limiting beliefs that hold us back.
  • There are so many days where there is doubt, fear, and anxiety and if you can find an anchor that you can look back to where you’ve overcome something that is seemingly impossible, you can use that to help you overcome and keep going.

At the 14 min mark, Jay and I have a great discussion about my DCP formula and how it weaves through life. How does someone find themselves if they are in a job or have life circumstances where they can’t travel the world for a year? How do they do it in their everyday life?

  • Every day, Jay referenced the book called The Artist’s Way each day
  • One of the biggest things he learned from the book was doing “stream of consciousness” journaling every single day
  • It helped him to de-clutter everything in his head and helped him to get these things out of his head and leave a way to find the pure inspiration

At the 18-min mark, Jay talks about “dating yourself” to learn self-love and spend time with “me”

  • In our world, we forget to listen to ourselves
  • Understanding yourself helps you better tap into your intuition -into your changemaker
  • It is so important to focus and be present to the “1 thing”

Book: The One Thing by Jay Papason

At the 23 min mark, Jay talks about his philosophy of how you feel every moment is more important than what you do or have.

What can people do to take control and put themselves in a state of momentum and winning?

  • Sometimes the answer is so simple that we don’t believe that to be the answer
  • If you tell your brain that you want to do something, stop and take one step to actually do it.
  • We live in world of “what ifs” and take ourselves out of the present moment, when all we need to do when something comes up is to just stop for a minute and just breathe – and stay hydrated. (Jay says this is the worst answer ever, but it is true)

At the 35 min, Jay talks about his 60 min momentum calls and how in just that short amount of time, he can help people get clarity and an a plan to implement and get going.

  • Jay talks about how most people wait to get clear and the move. Instead, people need to move and get clear along the way.
  • Start with what you know is the first step that you know
  • Then see where you get and the next step will reveal itself
  • The process will continue to repeat itself.
  • A journey of 1000 miles starts with a single step

Other advice for entrepreneurs?

  • Learn to build teams and find leverage
  • How you build your business and your community is very important
    • Be authentic, but don’t use authenticity as a marketing ploy
  • People are yearning for intimacy – they want to feel and be understood
  • The biggest connector is honesty and your true self

 

Best Quote: “People need to stop reacting to life and instead focus on the things that they can control and can affect in their life. Be in motion and get in the game. Get going on becoming who you are destined to be.”

 

Jay's Misfit 3:

  1. Always choose love, for yourself and for others
  2. Always choose adventure – it will work out
  3. Always go for it and play to win
Mar 7, 2018

This week’s Misfit Entrepreneur is Tom Ziglar. Tom probably doesn’t need much of an introduction as CEO of Ziglar Inc one of the most renowned training and personal development organizations in the world. I was fortunate to have the opportunity in my youth to study directly with his father. Zig Ziglar. Tom has carried on Zig’s legacy and taken the company to even new heights.

Tom is one of the most sought after thought leaders and speakers by billion dollar companies, smaller business owners, prestigious institutions, and people looking for inspiration, motivation, and hope.

Tom and Ziglar Inc. are focused on success, significance, and legacy, the latter of which I really want to dig into with Tom in the episode…

www.Ziglar.com

Tom@Ziglar.com

Tom and I discuss how the Ziglar firm started as a support mechanism for Zig for his speaking and grew from there. It was a vehicle to meet the needs and solve the problems of people that needed encouragement and promise for success with a plan. It is estimated that the organization has impacted over 250 million people throughout its life.

Over the last 7-8 years, the company has gone through a transformation to maintain its impact and relevance in today’s world. The mission hasn’t changed because it is timeless and that is simply that “You can get what you want if you can just help enough other people get what they want.”

How has Ziglar Inc. navigated the change and transition to stay relevant today?

“It’s more difficult to transition or reinvent a company than it is to start from scratch…”

  • The principles can stay the same, but whenever new leadership comes and works to pivot, it is different from the founder and the way they did things.
  • You have to maintain the principles at the core and understand that it will not be easy to go through the transition.
  • The biggest change has been in how Ziglar provides its services. In the past, everything came from Ziglar Inc., now the focus is on empowering individuals and teaching and equipping them with the tools and support to be able to train and teach the Ziglar principles throughout the world.

People are on a journey and follow a path that looks like this:

  • Survival: You don’t how you are or what you are called to do. You take input from others and typically transition from one thing to the next, but are not finding the true calling that you stick with.
  • Stability: You move from survival to stability when you determine who you are and who you want to become. You identify the character qualities, skills, traits, and the things that are truly important in your life.
  • Success: You move from stability to success is when you start developing the skills and qualities you’ve been gifted with and making an impact.
  • Significance: You move from success to significance when you are able to equip someone else to be, do, or have more than they thought possible.
  • Legacy: An inheritance is what you leave to someone one, a legacy is what you leave in someone.

What is the most important piece of advice you received from your dad from a fatherly standpoint?

  • A lot of things were “caught” more than “taught”
  • How Zig lived his life was advice in itself
  • You are what you are and where you are because of what’s gone into your mind - and you can change what you are and where you are by changing what goes into your mind
  • What we choose to accept and believe is who we are – but the #1 lesson is that you can change that – you can choose your input and that will change your life.
  • You cannot determine your future, but you can determine your habits, and your habits will determine your future.
  • The simple habit of putting the right things into your mind changes EVERYTHING.

It seems so simple that what you put into your mind and the way you think will determine your results, but why do so few actually realize this and take advantage of this power in their lives?

At the 16 min mark, Tom goes into detail in answering this question

  • Part of it is the awareness, but part of it also preparation to be prepare yourself for the life you want to have, who you want to be, and to be able to control your inputs into your mind in a situation.
  • It also comes down to choice and if you are prepared with a pre-planned response to a circumstance beyond your control determine how your attitude will be. By making it a habit to put the good information and pre-planning in your brain everyday because things will go wrong and you need to be prepared in advance.
  • The reason most people don’t do this is that it has to be learned and they don’t know they should learn it. They have been taught or told.

“To get the most out of life, you have to make a habit out of putting the right things in your mind, educational and inspirational to help you get through the challenges when they come up. And something is really a habit when you can recognize when you go through a day and miss it and feel like the day is not complete without it.”

At the 21 minute mark, Tom shares his “Performance Formula”

A x E x S = P

Attitude multiplied by Efforts multiplied by Skill equals Performance

  • So many people settle for the middle ground, but the top 5% that outearn the average 5 or 6 times to 1, they have the ownership mentality – they own their own attitude, their effort, and maximizing their skills and learning to hone them.
  • A little bit better can make such an exponential difference…
    • Think about if you have an attitude set at 2x2x2 = 8 compared to someone with a 4x4x4 = 64. Now, think about if you have a -2 attitude -2x-2x-2 = -8
  • It comes down to choice. You can choose to be great or not.

At the 28 min mark, Tom shares his Live to Win Philosophy

The fastest way to success?

Replace a bad habit with a good habit

Ways to sustain motivation?

  • It is more than willpower – it is the why
  • What is you why, your purpose, your big goal, or dream? Do you even have one? You need an anchor to keep you going and you need to figure out what it is…
  • The why becomes your guiding light that keeps you going to follow through
  • Don’t trade what you want most for what you want now

What have you found that truly matters?

  • Success is what we do for ourselves, what we achieve, the material things
  • Significance is how you help others be, do, and have more than they thought possible
  • Legacy is transferring the principles, values, and wisdom, so that people can carry it through eternity
  • What matters is equipping people for eternity. It is teaching you family, loved ones, and those that you can the principles, values, and wisdom. It is love
  • Legacy and love go hand in hand
  • Legacy is by design – you cannot stumble into it. It is purposeful.

At the 43 minute mark, Tom explains how anyone can create a lasting legacy

  • Why and How you do it, is more important than what you do…
  • The most powerful way to reach our own dream is to help others reach theirs…
  • When you have a team of people working for a dream, it is powerful thing…

At the 49 minute mark, Tom goes his through process of Engage, Equip, and Transfer

  • Engage: Hope. People need hope to take action. As a leader your job is to give people hope that the better future they hope for is possible and show them the way to it.
  • Equip: Never give a promise without a plan. Start with hope, but then put a plan together to get to what you or the people you are working with want.
  • Transfer: Empower those around you to teach others what they’ve learned

 

Best Quote: “To get the most out of life, you have to make a habit out of putting the right things in your mind, educational and inspirational to help you get through the challenges when they come up. And something is really a habit when you can recognize when you go through a day and miss it and feel like the day is not complete without it.”

 

Tom's Misfit 3:

  1. Know the source of your talent. We were created for something more, so understanding our creator and source of our talent is critical.
  2. Develop that talent with grit. You must persevere through everything to get where you know you have to go. Own the responsibility to develop your talent to the highest level.
  3. Have the humility to teach your talent or gift to other people. Power doesn’t come from keeping the deepest things we’ve learned inside us. It comes from teaching them to others.
Feb 28, 2018

Hello Misfit Nation! Welcome to another edition of "Lessons for Hannah!"

In November of 2016, we introduced a new format that we are putting alongside our regular episodes called “Lessons for Hannah.” Hannah is my daughter and one of the main inspirations for the Misfit Entrepreneur. I wanted to have a place where she could go and learn from her daddy and his Misfit friends throughout her life….even after I am gone. If you haven’t listened to the first episode of "Lessons for Hannah," I urge you to as it gives some more background and tells the amazing story of how Hannah came to be in our lives.

"Lessons for Hannah" are short, very useful, and sometimes comical lessons, that I have learned which I want to share with you and give to Hannah to help in your lives. Because I want Hannah to have these for her life, I’m going to speak as though I am talking directly to her. These episodes are a lot of fun and if you think there is a lesson that we should include in these episodes, please don’t hesitate to send it over to us at support@misfitentrepreneur.com. We’d love to share it.

This week’s Lesson for Hannah

Hannah,

I want to share with you something that up until recently, I had practiced, but wasn’t full aware of. And as you are probably sick of hearing me say at this point in your life, Awareness is the catalyst to change.

What I became acutely aware of after going back through many of my writings, lessons I have documented from those I’ve learned from, and from reflecting on the biggest triumphs I’ve had in life, is a very simple formula to succeed at anything.

It’s been right there the whole time, yet I just never wrote it down.

You see, it takes many things coming together to succeed, but they all fall under three specific categories of action – what I call the 3 ingredients to success or DCP.

The “D” stands for Discipline.

Discipline is your ability to manage yourself and do the things you need to do to succeed and win. It is one of the hardest ingredients for people to do. Discipline takes sacrifice. It takes overcoming your own mind's conditioning, habits, and the inertia of life. It means doing things when you really, really don't want to or feel like doing them - no matter what. Whether you are sick, hurt, on vacation, whatever; your ability to maintain your discipline and routines and what you know you need to do to succeed cannot falter. You’ve asked me before, why I still wake up early or go on my long runs and follow my exercise routine while on vacation – now you know why. It keeps my discipline.

It may not sound like fun when described that way, but that is what it takes. And it really is fun. When Michael Phelps got in the pool on Christmas Day for 4 hours of training, he knew that it was this discipline and the actions he was taking right then and there that were the difference at the finish line. The difference between winning and losing. And that energized him and fired him up. How about you, sweetie? Can you up your game when it comes to your discipline?

The “C” stands for Consistency.

Consistency goes hand in hand with discipline. You can be disciplined - for one day. But that isn't going to give your what you need to win. You must be consistent. Every day. Consistency is what breaks down barriers and wears out competition. It is how you outlast - even if you are not as talented. Those that are consistent in their routines, in the quest, and who they are win. Period.

Ask yourself, "Am I consistent in the way I approach my success? Can I count on myself to always be there and stay the course?" If you are honest with yourself, it may surprise you and also show you some things you may need to change. Just remember, consistency is key to lasting success.

The “P” stands for Persistence.

Alongside having solid discipline and an unwavering consistency, you must be persistent. How does being persistent differ from discipline and consistency? Well, discipline is what you do. Consistency is how you do it. And persistence is your commitment to doing it. As mentioned above, you can be disciplined and consistent for one day, a week, a month, etc. But persistence is your unwavering commitment to keep going in spite of challenge, fear, emotion, and all obstacles that come your way.

Many people can be disciplined and consistent for a short time, but when they run into real, serious adversity, they stop or give in. This is where your commitment, your persistence pays off. You will keep going where others fail or give up.

When you put them all together, you can see why they are the critical ingredients they are. They feed off each other. If you have discipline to do the things you need to succeed and are consistent each and every day in doing them...and then persist through any adversity that comes up as you are going, you will win. And you will win consistently. It seems so simple, doesn’t it? But, it isn’t. To maintain all 3 is the real secret you must figure out for yourself in your life – and I know you will. Lastly, always remember that when you encounter a challenge, your ability to persist through gets you one step closer to your next goal or level and keeps you on the path to realizing all the potential you have in this world.

I love you, Daddy.

 

Best Quote: "Awareness is the catalyst to change..."

 

Misfit 3:

  1. You must be disciplined in doing what you know you need to succeed in reaching your goal(s).
  2. You must be consistent in that you not only do the tasks you need to do (discipline), but do them day in and out without fail.
  3. Lastly, you must be persistent to break through the roadblocks and challenges to get in your way to grow to new levels.
Feb 21, 2018

This week’s Misfit Entrepreneur is Jeremy Ryan Slate. Jeremy is the founder of the Create Your Own Life Podcast and Command Your Brand Media. Create Your Own Life is One of the top-rated podcasts out there today. He’s been featured in INC, Forbes, and countless other media outlets and is rated as a top Millennial Influencer to follow by Buzzfeed.

But I know it didn’t start out that way for Jeremy. In fact, it started with a near death experience followed by a career shift and struggles as an entrepreneur before he found his way.

Today, in addition to running a great show, Jeremy teaches others how to position themselves and grow their personal brand. There are ton of topics we explore in this episode together.

@JeremyRyanSlate on all Social Media

www.CommandYourBrand.media

How Jeremy got to where he is today doesn’t match up. He started out getting a degree in world religion and studying at Oxford. He got his Masters and was on a path to be a college professor. But, it did not happen. He was passed over for a position. He then got a job as a teacher while working a few others jobs putting in almost 16 hours a day. He got burned out. His mother, who he is very close to, then had a stroke and it really woke him up. His wife was presented with a network marketing opportunity which was a new thing to Jeremy, but to him it looked easy. He thought he was going to be a millionaire overnight and wasn’t. He was successful and did it for two years – but he burned himself out again. He then did a bunch of odd things like selling life insurance. After all of this he finally figured out what he was good at and truly wanted to do which is where his podcast and business today comes from.

Jeremy notes that when looking back at his path, nothing seems to make sense, but in reality, in each of the things he did, he learned vital skills that help him succeed in his companies today.

Through your own experience and interviewing many of the highest performers in the world, what would you say is the most important thing that you have learned about entrepreneurs and entrepreneurship?

  • Those that succeed at high levels and do well are able to transcend themselves and operate for a larger group.
  • They ask questions such as “What will this do for mankind? What will this do for the larger group?”
  • They are really able to look outside themselves and see what the world away from them looks like.
  • They don’t operate on a “me” playing field, they look at all parts of a bigger picture and help the people in those areas come together to succeed and they reap the benefits as well.

Most important thing you’ve learned about yourself from your journey?

Jeremy is the type that has felt he has to do everything.

He has learned that people that can build systems and groups, enabling others allows your business to truly grow.

You have to get past you and relinquish your need to be in control of everything and do everything.

Jeremy has a great saying “Fill yourself on the organizational chart as you climb it.” Meaning that every time you create a role type in your business, learn it, systematize, and then teach it to someone to fulfill and move onto the next role. Create the position and then fill it.

Did you ever hit a bottom? If so, how did you handle it?

In 2013, he was living at home still, working out of his basement, and not doing as well as he wanted. He got a credit card statement that rocked him since he really couldn’t pay it. It caused him to ask himself what he was doing wrong. He asked himself, “Maybe I’m wrong? What am doing that is causing this?” It was this time of self-reflection that led to the self-awareness needed to pull him out and change things to make a difference in his life.

At the 16 min mark, Jeremy gives more detail of what he learned about himself and changed which made a huge difference in his success.

At the 21 minute mark, Jeremy talks about how the Create Your Own Life podcast came to be and his other businesses.

  • His first version was a big failure because it was focused on him and his advice
  • His second shot was looking at interviewing the Top 100 people he looked up from the viewpoint of “what could you teach me?” That resonated and the show took off.
  • Many of the lessons he learned about positioning and marketing came from learning from these people and formed the foundation for his business Command Your Brand.

Best advice for growing a brand and profile online?

  • Have a central piece of content (Podcast, Youtube Channel, Blog, etc.)
    • Start looking for press
    • Big a big fish in a small pond (local area works well)
  • Once you get some local press, you can get higher level press
  • Be professional with you pictures, logo, etc.
  • Have the same imagery across your social media platforms for uniform branding.
  • Your goal in building up a press profile is to get verified on social sites which gives you more ways to get noticed and connect.
  • Lastly, have a page on your website. where you store your media and where you’ve been featured

First step for the small pond is to send a press release to your local news sources. Jeremy talks about this at the 32 minute mark.

Advice for entrepreneurs starting out today?

  • Know what you are going to do and how you will help (central message)
  • Have an income source while you build your business (this can be a job). This allows you to focus on creating a great business and not on money to eat.

At the 37 min mark, Jeremy talks about the power of having a good fitness routine and how it correlates to success in business.

 

Best Quote: "We are cause over things that happen in our lives. We have to stop thinking that we are victims and things happen to me, but instead, things happen because of me."

 

Jeremy's Misfit 3:

  1. Figure out what your mission is and who you are going to serve
  2. Figure out how you are going to deliver your message and start creating content like crazy.
  3. Start telling everybody about all the content you’ve created and how you can serve them.
Feb 14, 2018

This week’s Misfit Entrepreneur is Dana Malstaff. Dana is the founder of the Boss Mom movement. It all started with her best-selling book, Boss Mom: The Ultimate Guide to Raising a Business and Nurturing Your Family like a pro. Today, Boss Mom is a company serving other boss moms all through the world through programs, events, and the wildly popular Boss Mom podcast.

Dana has been featured everywhere from Fast Company to INC, and I have been fortunate to share the stage with her. She brings an energy, passion, and insight that few can rival.

She has built an amazing community and systems for her business that allow it to continuously scale and those are just a few of the many items I want to cover with her today.

Dana says her story isn’t unique, but I’ll let you be the judge. When she started she felt like she was alone, but also felt like her story had to be other people’s stories. So, she had to share it. She became a mom and an entrepreneur on the same day, literally. The day she quit her job, she conceived her son.

Dana says that owning children and owning a business is so similar to raising children. They grow the way babies do and give you all of the fits, challenges, tribulations, feelings of not knowing what you are doing…and everything in-between.

She felt really alone because none of her friends were doing what she was doing. She went through her first year having a success and a ton of failures both as an entrepreneur and a mother. It wasn’t until a little after a year in, when she moved to San Diego and was surrounded by an environment where others were like her and building businesses while being parents, that things started to click.

Being in this environment made her stop feeling alone and different, but invigorated. As she began to network and meet other entrepreneur-moms, she realized that the majority of them didn’t really know how to truly build or run a business.

That is when she decided to write Boss Mom and start the movement because that is what she is good at – building a business operationally and strategically.

Once the book was published, it took and the movement did as well.

What is the best piece of advice you would give all Boss mom’s out there?

  • Follow your gift, not your passion – especially when monetizing your business.
  • Your gift is the thing that comes easily to you
  • It is the genius of how you operate and the thing that you do better than everyone else
  • This is what you are meant to be executing
  • When you begin to work in the space of your gift, the success comes and gives you the ability to follow your passion as well

What was the first day at Boss Mom like?

  • Technically Boss Mom is Dana’s 3rd business/brand. It took multiple iterations to get it right and create a good brand.
  • Your brand is massively important
  • The first day was sheer panic not knowing what to start first…
  • Dana spent her first week looking at what others are doing in their business and taking things that she liked
  • She was learning the important things she needed to be taking and putting together to create the business
  • Modeling is a great way to get ahead – it is ok to copy and innovate
  • On the first day of “Boss Mom” she immediately got help
  • Visibility is the #1 thing in the beginning – your brand should be everywhere you are, featured wherever you can be, get on every podcast and outlet you can.

Quick Tip: At the 14-min mark, Dana talks about the “buttons” she uses on her website and the interesting names she gives them and why. Her tip could really help the engagement on your website.

Take us through how you learned to scale Boss Mom and how others can use what you’ve learned:

  • Make a business plan – it is your map (Hire someone to help you)
  • What is your purpose, what is your why?
  • Financial, Environmental, Emotional Future?
  • Your Tribe – your community
  • Then you map out your tangibles (Your money engine)

At the 18-min mark, Dana walks through the above in detail and talks about the difference between “Dream-makers” and “Deal-Breakers”

At the 24 min mark, Dana talks about creating your “Movement Manifesto.”

Answer the following of yourself:

  • Decide on 3-10 “I believes"
  • Next ask yourself, “I want to live in a world where…” •
  • Ask yourself, “This is what I know to be true…”
  • The last thing is to put it into a motto or call to arms – and in this, you find your why

At the 26:40-mark, Dana gives her manifesto/motto Facebook groups, you’ve cracked the code.

What is the strategy you can teach Misfit Nation to maximize their use in growing a business?

  • Dana spends a good amount of time talking about this at 28 min mark
  • Don’t look at it like a Facebook group – It’s a community
  • Decide what kind of environment you want - think of it like a company culture

What is allowed, not allowed, how will people feel valued and part of the system?

  • You are building a culture and if you do it right, you will be known for it and it will thrive
  • It has to provide a way for people to grow their business and get results

First 2-3 steps for newbies:

  1. Decide on the rules
  2. Brainstorm 5-10 conversation starters in which people can’t help to engage in
  3. Create content to have them help you decide on how the group will feel and work
  4. Ask 5-10 people you know to join the group and engage with members.

Other tips on building a tribe?

  • Stop thinking you are the “head”
  • Allow others to take ownership and empower them to be a part of it
  • Be a leader, not a host
  • By creating micro-influencers and raising others up, you will be raised with them.

At the 35-min mark, Dana gives her blueprint for the “Free to Paid” Journey Advice for an entrepreneur starting out today and for a seasoned entrepreneur?

  • If you are starting out – please do not be an island
  • You should not be doing everything on your own – even if you can. You want to be known for one thing. Focus.
  • If you are more seasoned – it is all about tweaking and refining.
  • How can you go back in and double the revenue from everything you are doing now?

Most important thing you’ve learned about yourself?

The journey is what is most important, not the outcome

 

Best Quote: “The learning is in the doing…It’s not about clarity. It’s about the direction and the framework.”

 

Misfit 3:

  1. Live your brand. Pick a brand that you literally want to wear and be in it.
  2. Take in the information you can around you, but make it your own. Nothing is new – it is just re-invented with a different perspective. Own it and find that for you.
  3. Be decisive. Take action, make decisions and execute.
Feb 7, 2018

This week’s Misfit Entrepreneur is Steve Olsher. Steve is known as America's reinvention expert. He has done it all. From being one of the early web entrepreneurs in the 90’s to creating massive financial deals to being a best-selling author, top influencer and radio personality – there is little that has he as not accomplished. I’ve gotten know Steve well over the last year and was even honored to attend and present at his New Media summit.

But, like many entrepreneurs, how Steve got to where he is full of twists, turns, and incredible lessons on how to succeed and win in life. He’s helped tens of thousands of people all over the world recognize and maximize their “what,” their singular gift that they can use to turn their dreams into reality.

Steve is known as Mr. Bold and after our time together today, I think you’ll understand why.

www.SteveOlsher.com

www.ReinventionRadio.com

Get a FREE copy of Steve's #1 NYT Bestselling book at www.WhatisYourWhat.com

Steve says he got to being where he is by being a Misfit. His journey has been full missteps in a lot of ways. It these missteps that he credits with getting him where he is at.

At the 6 min mark, Steve tells the story of how he started in the web in the early 90’s creating some of the first online stores and secured the domain Liquor.com. In 1998, he bought Liquor.com for $7500 which was a good amount of money for web address back then. By March 2000, they were doing millions in sales and were ready to IPO the company.

It was bad timing as the markets literally crashed and by this time, Steve had signed away the bulk of his control to Wall Street. He gave up his management rights. And then when the company couldn’t go public, he was stuck holding the bag with his hand completely tied. After 9 years of hard work, he walked away from everything.

In 2005/2006, he tracked down the domain and convinced the owner and get it back after a long process and reclaim it. He then put it up for sale and got an offer for $4.25 million, which he took, only to have to buyer default after a couple payments. So, he took the domain and rebuilt the company around it to what it is today.

He uses this as a lesson that if you stay the course and pursue your goal, it will eventually work out. It may not work out as you planned, but it will work out for you.

At 13 min mark, Steve tells the story of how he got into the real estate markets. After walking away from Liqour.com, he got into real estate development. He would buy older buildings, refurbish them, and then turn them into different types of developments and did it up to 2008/2009. Once everything imploded in that world, he had to give properties back to the bank, go through litigation for over 5 years, and lost almost everything.

You can reinvent your life on a dime.

You must answer the core question of “What is your what?”

  • What is your core gift?
  • What is the primary vehicle you will use to share that gift?
  • Who are most compelled to serve?

Many people are spending their time support other people’s “what” and that adds up to a tremendous amount of time you cannot get back, so figure out what is your what and focus your time to get it.

How does someone get the true answer of their “what?”

  • There is a framework
  • Start with taking a look at who are the people you most enjoy being around, working with, and helping
    • This is the best place to start to get an understanding of who you want to serve and the type of work you truly want to do.

What is the most important thing you’ve learned about how to succeed along the way? What is the most important thing you’ve learned about yourself?

  • It boils down to one thing – Having that one thing that you are focused on.
  • Focus on finding and doing one thing that you were born to do for now
  • Do whatever you can to give yourself fully to that one thing for a period of time, you’ll be amazed at the results you can generate. Go all in.
  • You can do different things, but at the time there is one that is most important and where you need to fully focus on.

Other advice?

  • Create your day by design
  • It is very easy to just let your days to go by
  • Be deliberate about your day and your life
  • It is amazing how much we can ge tdone in 2-3 days with focus – more than most can do in a week
  • Ask yourself what you want to be doing with your time and ask yourself if there are better ways to accomplish your work.

Best advice to succeed and build a business today?

  • In order to truly help people, consult, and help people work through challenges, you have to have gone through them and experience them as an entrepreneur
  • You can then share the knowledge you have to truly help people
  • You have to earn the right to help people
  • We should teach what it is that we know
  • You will hit a ceiling of limitations based on your experience – realize that and work with people that are “the 2nd grader to your 5th grader”
  • Don’t be what you are not

Thoughts on creating and maximizing a niche?

  • You will be amazed at far you can take a niche and how big of a market it can be
  • Create a business around who you are most compelled to serve
  • Pick the one the one thing that creates the fire in your soul

Steve uses a great example of niche in this section starting at the 41 minute mark

Best tips to grow an audience and get found?

  • There is no magic bullet
  • You have to say yes to every opportunity that you can to gain visibility
  • Everywhere you are adds up for you over time

Final advice?

At some point, you have to move beyond free.

You can’t cheap it out

You will need to invest in education, mentorship, or coaching to get you from point A to B to help you succeed at higher levels and accelerate your success– you can’t get it just from videos on the net.

 

Best Quote: "Don't live for a day in the future that may never arrive..."

 

Steve's Misfit 3:

  1. Get the guidance that you need and be willing to invest in it such as a coaching program or mastermind, but it can also be buying an hour of someone’s time. Be creative.
  2. Be willing to step out of your comfort zone and go to where the people are you need to be able to connect with. Look for a more intimate setting to do so as you can make meaningful connections.
  3. Figure you how o work fun into the equation. You hear you should enjoy the journey, but many don’t take the time to enjoy it. Do it! Don’t live for a day in the future that may never arrive.
Jan 31, 2018

This week’s Misfit Entrepreneur is Akshay Nanavati. Akshay is a former Marine Corps veteran, adventurer, speaker, and author of the best-selling book Fearvana: The Revolutionary Science of How to Turn Fear into Health, Wealth, and Happiness.

The Dalai Lama said, “Fearvana inspires us to look beyond our own agonizing experiences and find the positive side of our lives..”

Through his work, Akshay has been featured on CNN, Fast Company, INC, Entrepreneur, Forbes, and almost all of the major news outlets.

Simply put, Akshay has faced and stood down fear and learned how to bend it to his will. Fear is something everyone faces and struggles with in some form or fashion, and for some time I have wanted to do a show where we dive deeply into facing our fears and overcoming them. When I met Akshay, I knew he was the guy to do it!

www.Fearvana.com

Akshay and the Fearvana movement really started in high school. He wasted a year of his life with drugs and lost two friends. It was the movie “Black Hawk Down” that triggered to get out of his selfish, meaningless life he was in. He went to join the Marines, but it too a year and half to get in because of blood disorder he has. He had to fight his way in and once in he started to learn how to push himself and started to explore other ways to do it. Outdoor extreme sports became his playground.

He was then sent to Iraq where his job was to clear IEDs. When he returned, he had trouble and was diagnosed with PTSD. He started drinking and go to the brink of suicide.

When he hit that low, he knew he had to change and learn to heal himself and learn to lead a meaningful life. He began to study it and learned how to manage and control his fear and harness it to his advantage. Fearvana and the business he has built around it came from this journey.

What is the one thing people should know about fear and how to use it to their advantage? T

he single most important thing is that it is not a negative emotion. The reality is that we just have emotions – it is us who choose whether to view them as negative or not. You must build a positive relationship to suffering. If you can, you can do anything in life.

At the 7 min mark, Akshay answers the question, “What is it about fear that paralyzes people and makes us react the way we do to fear? What do we actually have to overcome?”

You do not want to miss his answer…

  • It happens from amygdala hijack.
  • Like anything, you have to train yourself and you have to put yourself in high stress environments to create “stress inoculation.”
  • Once you get comfortable with that feeling and can use it to your advantage
  • Fear releases very beneficial chemicals that are essential to success – adrenaline, dopamine, and others.

How does somebody recondition themselves to use fear to their advantage?

  • Self-awareness is the key.
  • “Man is a machine, but a very peculiar machine. He is machine that with the right circumstances and treatment can know that he is a machine, and by fully realizing this, he can find the ways to cease to being a machine.”
  • What that means is that simply by acknowledging that we don’t control most of what happens in our brain – it’s all a part of our subconscious, we can then stop fighting the subconscious, but instead embrace it and decide what we do with it.

At the 10 min mark, Akshay gives a great example of this with his PTSD and how he used this process to overcome it.

“There is no such thing as irrational fear…”

Does fear masquerade itself as other things in our lives?

  • It often shows up in other forms such as stress and anxiety.
  • It is normal to feel stress, especially when you are working hard for something
  • Book: The Upside of Stress

“The biggest thing that separates peak performers is that they don’t stress over stress”

  • It is a good thing to label our emotions

Take us through the Fearvana process?

5 steps: The Unstoppable Warrior Formula

  1. Label and Language. Label your emotions – really noticing and calling it out. “I’m feeling fear.” “I’m feeling stress.” Then shift your body language to one of confidence and strength.
  2. Meaning. What is the meaning? Why am I feeling this? (bringing consciousness)
  3. Not me. This is where you take control and say, “it’s not me, it’s my brain.” This is how we stop ourselves from assigning our identity to our emotions.
  4. Opt for a new meaning. Change the meaning to what you want it to be.
  5. Purposeful action. Take consistent action toward rewiring your brain to what you want it to be. Lastly, do pre-emptive strikes. Plan ahead and prepare for situations where you know fear is possible. Know what you are going to do with it.

At the 18 min mark, we discuss how to get people to the action step quickly. Why is there a disconnect from when we recognize things to actually acting on them? Akshay gives a number of examples and what to do.

One key is to work your way up the ladder of fear. Put yourself in incremental levels fear as you progress. What has surprised you to most in all of your work with fear?

How much everyone is suffering In their own way. We tend to think we are the exception and the “odd one out,” when in reality we all are suffering in some way. People should take comfort in that. Even the people you look up to have their own levels of suffering, but there is a gift in that when we learn to find it and embrace it.

At the 25 min mark, Akshay talks about the post fear process.

What is the most important habit and how do you break any habit at will?

  • The most important habit is the habit of willpower
  • Willpower is engaging your consciousness. It is planning ahead for the suffering you know is coming
  • Willpower makes you comfortable with you fear
  • Build systems to help maintain your willpower because you will drain it throughout the day with the decisions you make.
  • Use the systems to conserve your willpower for when you need it most
  • Use checklists – they keep you from having to think about things so you can act
  • This allows to channel and condition any habit any time you need it
  • In summary, create systems for everything that allow you to save and use your willpower when you need it most.

At the 31 minute mark, Akshay talks about his routines and how he sets them up.

  • Uses the “ToDoist” app
  • Works in chunks
  • Morning and evening routines 
  • Reading adventure stories
  • Prayer

There has to be something you are truly afraid of??

  • Having children
  • Where he wants to take Fearvana because he doesn’t know how he will really get there

What have you learned in becoming an entrepreneur that is important to share?

  • Clarity in some form is so important
  • Give value first
  • Being patient with the process

Other resources you used to develop the Fearvana Philosophy?

  • Man’s Search for Meaning by Victor Frankel
  • Triggers by Marshall Goldsmith
  • Peak by Anders Erickson

 

Best Quote: “The balance of action and awareness is ultimately how all growth happens…”

 

Akshay's Misfit 3:

  1. Getting immense clarity on your why, you what, and your how and then taking consistent action, and adapting along the way
  2. Build systems that help you to conserve willpower for when you need it most and plan and track everything you can
  3. The most important skill you need to succeed in anything is building the positive relationship to suffering. If you can suffer well, you can handle anything that life throws at you.
Jan 24, 2018

Hello Misfit Nation! Welcome to another edition of "Lessons for Hannah!" In November of 2016, we introduced a new format that we are putting alongside our regular episodes called “Lessons for Hannah.” Hannah is my daughter and one of the main inspirations for the Misfit Entrepreneur. I wanted to have a place where she could go and learn from her daddy and his Misfit friends throughout her life….even after I am gone. If you haven’t listened to the first episode of "Lessons for Hannah," I urge you to as it gives some more background and tells the amazing story of how Hannah came to be in our lives.

"Lessons for Hannah" are short, very useful, and sometimes comical lessons, that I have learned which I want to share with you and give to Hannah to help in your lives. Because I want Hannah to have these for her life, I’m going to speak as though I am talking directly to her. These episodes are a lot of fun and if you think there is a lesson that we should include in these episodes, please don’t hesitate to send it over to us at support@misfitentrepreneur.com. We’d love to share it.

This week’s Lesson for Hannah

Hannah,

I want to speak to you about something that I am extremely passionate about. It is one of the biggest habits of the highest achievers throughout history. And thankfully, I found it at an early age. I hope you will do the same.

I’m talking about self-education and lifelong learning. I’m not talking about school. You are going to school, or maybe even by the time you listen to this will have gone to school and maybe even college.

Here is what I want you to know about traditional school…and it’s somewhat controversial. First, it’s not enough. Going to school will give you a great base of subjects and concepts for you to build on the rest of your life, but it is only the beginning. Your real education will begin when you decide to self-educate or get into the real world. And that brings me to my second point which is that going to school and college doesn’t adequately prepare you for the real world you are going to step into. In fact, they teach you a lot of things and condition you to the opposite of what works in the real world.

Let me give you an example. In traditional school, if you are taking a test and you lean over to your friend next to you asking them for help or thoughts on one of the questions on the test – the school will tell you that is cheating and punish you for it. That is not how to real world works. In the real world, it is the opposite – you get the best and brightest you can find in a room together and have them figure out the best solution and answer to things….and when they do and it generates the desired results – you reward them.

Don’t get me wrong, going to school will teach you a tremendous number of things, one of the most important learning to read. Once you learn to read, it not only opens a whole new world but a whole new world of possibility to you. Sadly, most take this for granted and never grow beyond their traditional schooling.

And that is the difference between the majority of the highly successful and everyone else. They realize the importance of self-educating and continuous learning and growing. One of my favorite quotes is from an old personal growth expert (well, old to you) named Jim Rohn where he said, “Successful people have libraries. The rest have big screen TVs.” Such a major distinction.

But, here is my best advice for you on your learning journey. Don’t take what you read or learn for granted, on your own or in school. Question it with boldness, seek the truth, challenge yourself and assumptions you make. And I will caution you that this will get you into trouble at times. No one likes it when the status quo is questioned, especially in traditional school. But, if we didn’t have people that challenged the conventional norms and ways of thinking, we would have 90% of the things we take for granted in this world. Most of the major innovation comes from directly challenging what society tell us is how things should be. Just know that mommy and I will always have your back – so question away!

There are a lot of books out there, especially when it comes to history, that don’t tell the truth or leave out very important details and this is why reading multiple sources on a topic is so important. You will start to notice patterns and things that are consistent that you can test and prove out. And I think that is probably one of greatest parts of lifelong learning – you can always surprise yourself and have breakthroughs in all areas of your life.

In the show notes of this episode, I have put some of my favorite books for you to check out, when you are ready. Never stop learning, growing, questioning, challenging, and searching….

I love you, Daddy.

Selected Book Recommendations (Hannah, just ask me for others as there are too many to put here!):

The Holy Bible - The greatest story ever told and a book that sets the basis for almost every lesson you can learn for life and success. Whether, you believe in God (which I do) or not, the wisdom in the Bible is timeless...and endless.

The Richest Man in Babylon - A parable that teaches the bedrock of sound wealth. Ironically, you will find much of the same lessons in the Bible

How to Win Friends and Influence People - Timeless book on how to engage, motivate, and work with others

The 5000 Year Leap - I consider this the beginners guide to understanding the principles that founded the United States of America and that created the Constitution, a document that after many years of study, I have come to believe is one of the greatest creations of mankind.

Think and Grow Rich - Great book. Compiles much of the wisdom from history and the Bible for how to create wealth and achieve your dreams. Another easier one to read that covers a lot of the same things is Secrets of the Millionaire Mind (this book gave me a lot of epiphanies when I read it at 21)

Rich Dad, Poor Dad - Hannah, I will have taught you the concepts this book shares by the time you are old enough to read it, but it is a must read at some point. Talk about questioning the status quo and introducing you to entrepreneurship - this is a good one

The 21 Irrefutable Laws of Leadership - Timeless lessons on leading yourself and others

The Ten Year Career - Ok, I know it is a little self-serving to put my book in here....but honey, it is pretty good and will give you a good idea of many of the things I've learned and used to build the life we have. :)

There are so many amazing books out there. My best advice is to read a broad range from the classics, to history to personal growth. In fact, here is a list of the classics that I found that is really good...

Jan 17, 2018

This week’s Misfit Entrepreneur is Nischal Shetty. Nischal is the founder of one of my favorite social media management tools, Crowdfire. Crowdfire is a social media manager that helps your manage across all social accounts, grow your impact, audience, and message, and helps you to engage more fully with your tribe.

Millions of people and companies use Crowdfire for their social media growth and engagement.

Nischal not only founded Crowdfire, but physically built it, boostrapped it to its first million in revenue, and took the service from 0 to over 15 million users without spending any money on marketing or advertising. In fact, he developed a unique marketing strategy called ETC to achieve this, which is just one of the things I want him to share with you today. For his efforts, not only does he have a great company to show for it, but has also won a number of awards, including being chosen as a Forbes 30 under 30. I am really excited for you to learn from him.

Twitter @NischalShetty

www.CrowdfireApp.com

FREE Gift for Misfit Nation!

Go to Misfit.CrowdfireApp.com for 3 months of Crowdfire FREE

Nischal says he is an “accidental entrepreneur.” He was an engineer that wanted to create some extra money, so he created a blog because he had heard you could make money doing it. After blogging every day for a month, he realized that “just blogging” doesn’t guarantee success. So he started researching and spending time learning how to market his blog and get his message out. That lead to him building the first version of Crowdfire. He used that to grow his blog and eventually put it out there for others to use and was amazed at how many people used it.

He then bootstrapped it for the next year and then quit his job to go full time. That was 6 years ago and Crowdfire had about 500,000 users. Now it has over 15 million users and employs 45 people.

Nischal credits his entrepreneurial streak to his father – a restauranteur, but it was never forefront until much later. The building blocks were always there, but it took him some time to realize it.

What is the most important thing you’ve learned about yourself in your journey?

  • The power of focus. You have to focus intently on your vision and your goal and stay disciplined and consistent with it.

At the 7:20 mark, Nischal and I discuss his way of thinking like a contrarian and turning whole business models upside down.

  • You can learn from what is out there, but ask yourself what has been done that has never been done before
  • The best way is the chart your own path
  • To do that, you have to think completely different than anyone else in your market

Lessons learned from bootstrapping Crowdfire to its first million?

  • As mentioned, Nischal started out by giving Crowdfire away free to users because he wanted to help people in the same way he had needed help with his blog
  • After about 6 months of it taking off, he started to have some serious costs for servers, etc. so he kept a free version, but charged for more advanced features – but made it no obligation to the users.
    • He basically asked for their help in paying to keep it going
    • The users responded overwhelmingly
  • This may sound like common sense, but if you are going to bootstrap a business, make sure you have a good idea and plan for how it can and will be monetized before beginning. Many people don’t think about that until after creating the business and product.
  • Charging early is better than doing it than later on. Charging early on (in the 1st 6 months) helped Crowdfire grow and gain traction tremendously.

Thoughts on creating community?

  • The best way to do this is when the founder is part of the audience and a user going through what the client go through.
  • It is hard to understand the pain points and help people when you haven’t experienced them yourself.
  • When the founder is a part of the community and can relate, emphasize, and show they have been in the trenches alongside the people using the product, people relate to them and it is easy to build a community around your business.

What does it take to build a successful company?

  • There is no formula
  • Every time you think you know what it takes, it seems like the rules change
  • There some basics that are critical: 
    • The people you bring with you on your journey are so important. You cannot do it alone and you need people just as passionate as you to help you solve the problems
    • Always think from the user/client perspective, then think about the money
    • Be mission driven

Thoughts on building a company culture?

  • First and foremost, when you hire, it is not just about skillset, but cultural fit – to be a good fit, do they understand the users and are they a user or someone who could be a user and truly sees the benefit in the product/solution
  • No matter what rules you have in the company, they first apply to you as the founder. Your actions are always watched.
  • Be a coach for your employees and help them grow – don’t’ just tell them what to do.

At the 21 min mark, Nischal discusses the ETC strategy and how Crowdfire used it to go from 0 to 15 million users with no marketing money spent.

  • When you start out and promote your new product, you will get coverage on different mediums which leads to getting some initial clients
  • One critical item to have with your product in the beginning is to have an easy way for your early adopters and easy way to share your product with others

ETC stands for Ego, Temptation, and Curiosity

  • When marketing your product your goal is to tap into one or all of these for users to share your product
  • Nischal gives many examples of this
    • When Gmail first launched, the only way you could join Gmail is if you were invited by a Gmail user, a friend. Gmail played on the Ego aspect of their users giving them the power to invite users
    • Dropbox used Temptation really well. When they launched, they “Tempted users” to get more storage by giving them the bonus if they shared Dropbox with their friends and encouraged them to sign up.
    • Crowdfire used Curiosity. They created a feature that allowed people to see who their unfollowers were. They gave users a simple way to tweet about it and say “I found my unfollowers on Crowdfire” because at the time, the capability did not exist and having this feature created a lot of first adopters because of their curiosity.

What trends are changing in social media? What’s working?

  • Social media has come a full circle
  • Personal communication is coming back instead of broadcasting
  • One on one is working
  • Start having personal connections meaning reply and have discussions with people that interact with you on your social media
  • The next big change is where blockchain will be used in marketing and social media – it is something to really pay attention to.
  • At the 33 min mark, Nischal gives example of how he things Blockchain will impact marketing and social.

 

Best quote: “Everything good or bad in a company starts with the founders...”

 

Nischal's Misfit 3:

  1. Distinguish between urgent work and important work. Do the item that are urgent and important first, always.
  2. When it comes to hiring, first play the part. Do the position(s) for some time and then you will know the person you want to hire.
  3. Find the right advisors. Those that have done what you are trying to do. Be smart and clear on the things you want to learn from them and make sure they have done those things before and succeeded in them.
« Previous 1 2 3 4 5 6 Next »