In this episode, Dave excited to welcome Marcus Boles. Marcus is a 3rd generation entrepreneur with over 25 years of experience in creating successful ventures. He is the founder of customized minds, a holding firm with 3 different companies under it. The first is Customized Shopping, an e-commerce retail marketplace connecting customers to innovative products and services. The second is Customized Speaking, a technology learning Management Company focused on professional speaking and digital education by inspiring and empowering the world through informative information and awareness. He also owns CM Investments, a business development and management firm growing startups and established businesses to midsized companies and large organizations.
Marcus has unique ways of challenging conventional norms and how he continues to grow himself. After many years of success, he challenged himself in 2008 to acquire 5 degrees in 6 years. He did this while still growing his business and acquiring companies. Dave and Marcus discuss what it takes to be able to grow in multiple ways at once while continuing to perform at a high level.
Marcus grew up with a traditional background, but 80% of his family were entrepreneurs. Everyone from his grandparents to his parents and aunts/uncles owned businesses. He learned at an early age about building organization and pursing the entrepreneurial dream.
His first entry into entrepreneurship was when he started his “cleaning services” to his parents in exchange for money. He then took that to the next step of cleaning job sites for his uncles who owned businesses in the construction trades. His first major business was owning and operating a chain of convenience stores with his father – at the age of 12! Even at the age of 12, he brought digital and technology support to help the businesses grow and find success.
What does it take to be a successful entrepreneur?
Truly understanding the following:
- Your passion – connecting with what it is that you love
- Your gifts – maximizing your talents and what has been given to you to create income from what you love.
- Adding value with your passion and gifts.
What advice do you have to go from idea to execution? What advice would you give people on how to get going and keep themselves going?
- Don’t be afraid – the reason why people don’t get started on their idea is that they don’t want to look foolish
- You won’t get it right the first time or many first tries
- Understand you are going to fail, but learn, and that it takes several iterations to get something going
- You are striving to always improve, so it will never be truly “right”
- It happens to all entrepreneurs and it is a part of the process
At the 18 min mark, Marcus gives tips for succeeding in e-commerce, speaking, and investing?
- E-commerce: Your marketing strategy makes the difference. Pick the top 5-7 strategies and focus. Most e-commerce businesses try to do too much. Use only 5-7.
- Speaking/Digital Education: Be humble and willing to share your vulnerabilities. You have to go through the process to success – starting out speaking free, honing your craft, learning what you don’t know, etc.
- Investing: It should not be 100% about the product or service, it is about the people. If they are cohesive and work well together as a team, then you have a better chance at success. Proving your commitment is key to receiving investment – commitment from time, determination, money, and perseverance.
- Look at life as a game. Understand the rules of the game that you are playing and look for leverage (Marcus using his example of getting 5 degrees in 6 years).
- Make the decision not to leave anything on the field (don’t become lazy or waste precious time – this is decision that has to be made consistently)
- In short innovate to find leverage and give it your all
At the 25 min mark, Marcus talks about how he coaches himself and breakthrough barriers to perform at high levels?
- You must have discipline and commitment as your foundation
- You must have a deep, meaningful why that you came up with (not dictated by someone else)
- Create a personal growth routine
- Plan for your success – weeks and months in advance
- Do a financial review of your business or income/outflow at the end of every month Each
- Sunday, do a mental check on all areas of your life to prepare for the week and cement them for the week.
At the 32 minute mark, Marcus gives advice for entrepreneurs starting out today.
Biggest lesson learned that has helped you the most?
- Things will not turn out how you plan them
- The bigger the goal, expect it to be much harder
- Plan for the unexpected, or be ready for it, because it will happen
How did you find your “why?”
Marcus took himself through a series of questions:
- What do I love?
- What is my gift?
- What are the challenges/obstacles I am facing that I can leverage?
- What can I learn from others and their experience?
- What do I believe about me?
Best Quote: "You live the life you create..."
Marcus' Misfit 3
- Ask questions. Questions are really problems that are unanswered. They are what if’s…
- Failure is the predecessor to success. Any success in any industry never worked the first time. It takes failure, mistakes, learning, and growing to succeed.
- You have what you say now. It if you believe it now, it is yours to have today. What matters is what you believe about yourself.