Hello Misfit Nation! Welcome to another edition of "Lessons for Hannah!" Many years ago, I introduced a new format that 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 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 email@example.com. We’d love to share it.
This week’s Lesson for Hannah
Hannah, I want to talk to you about commitment. The definition of commitment states that it is the “state or quality of being dedicated to a cause, activity, etc.” What does that mean? Commitment is a word thrown around a lot and you will hear it all throughout your life. I don’t think people take the word and what it means seriously enough.
People say all the time that they are committed to things but give up on them. People commit to doing things for themselves or others, but don’t follow through. To me, commitment is something truly special. To commit to something means that you will do whatever it takes to fulfill the commitment and not give up until it is complete. To commit means that you have taken the time to think through what you are committing to and are choosing to move forward knowing and being prepared for what may happen on the journey. You are deciding that you are willing to go through all the challenges, hard times, and setbacks that could happen on your path to fulfilling the commitment. You also get to enjoy the good times of the journey as well.
A great of example of commitment is marriage. And marriage is one of those commitments that, sadly, many people break.
Marriage is incredible. To find the one person you are meant to be with and commit to them for the rest of your life is a serious and exciting experience. But too many people enter it without taking the time to understand what the commitment of marriage really means. I fact, Jesus spoke a lot about marriage, but I think he really understood what commitment meant in marriage when he said, “The two will become one. So, they are no longer two but one. Let no man divide what God has put together.”
Let no man divide what God has put together. If you believe like I do that things happen as they are supposed to, guided by a divine hand, then when you find the one you will marry and commit to, God has put you together. And because God has put you together, you should not divide it.
Now, that does not mean that there aren’t legitimate reasons for a divorce, but there certainly should not be superficial ones.
Marriage like entrepreneurship requires a true commitment and playing the long game. No matter how good a marriage is, it will have tough times. There will be times where each spouse is not happy with the other. That doesn’t mean they don’t love each other; it just means that they are having a challenge with each other at that time. Marriage is compromise, it’s give and take, it’s tough love, it’s standing true. It is the willingness to love someone when sometimes you don’t feel like you want to. It is the willingness to go through the hard times together and be there for each other.
Your mother and I will be celebrating 15 years of marriage this year. I am very excited about it. The average marriage length is sadly about 8 years which means your mother and I will be almost double that. But, it hasn’t been perfect. We are not perfect. There are times where I know I get on mom’s nerves and drive her nuts and of course, she has her moments as well. We will have arguments from time to time but seem to always find ways to work through them together. There are times where it is tough, but I know I can always count on mom to be there for me, and she knows that I will always be there for her. No matter what happens, we are committed. As we said in our vows – til death do us part.
Hannah, what I want you to take away from this is that commitment is something that is a serious choice in our lives and when we commit to something, we must see it through. And if we are not willing to do that, then we should not commit in the first place. I hope that you take this lesson to heart and use it to make better decisions for yourself in life committing to the right things. It is lesson I wish I understood earlier on in life.
I love you,
Best Quote: To commit means that you have taken the time to think through what you are committing to and are choosing to move forward knowing and being prepared for what may happen on the journey.
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This week’s Misfit Entrepreneur is John Mitchell. John is the founder of Think It Be It. John is an entrepreneur that went from averaging low 6-figures in business for 20 years to creating a $25 million per year business in just a few years. When I heard this story, naturally my question was, what changed? How did he increase his income 25 times in such a short time?
John did it by radically following the principles of the timeless classic, Think and Grow Rich. He discovered the Science of Success and put it to work. And he developed a system so that anyone can apply it. Today, his 12 Minute A Day methodology is recognized as the Top Application in the World of the Top Book in the World on success.
I brought him on the show to share exactly what he figured out and teaches others, so you can put to work in your life.
www.ThinkitBeit.com/ME (Free video and guide of John's Deep Thinking Process)
John started out as a CPA and at 30 decided that wasn’t the career he wanted, so over the next 20 years, he got into multiple different businesses. When he reached 50, he was not at the levels he aspired to be. He wanted to have enough money not to have to work and have the woman of his dreams and he was falling short on both. He did OK – making 6-figures a year, but he knew he needed to start making over million per year to reach his goals. He realized he had to change his 20-year history. So, he decided to find the top book in the world on success and apply it word for word to his life. That book was Think and Grow Rich.
He got it and read it cover to cover finding that there was a problem. The book said there was a secret for success, but it only gives you half of the secret and the reader has to figure the other half. It kind of bummed John out as he wasn’t sure where to go next. So, he decided to immerse himself further and during a 2-month period, he figured it out and a 12 minute a day process to apply it. He put it into effect in his business at the time and the income doubled and 4-years later he was netting $5 million.
He was operating at a higher level. He was more focused and more in control.
He sold his company and semi-retired but wanted to teach what he had learned to the world and that is what he has been doing. Even the University of Texas brought him on to teach it.
What did you figure out about Think and Grow Rich? What is the secret?
Thoughts on conditioning and how it impacts us – and how it can be changed?
How do people influence their subconscious mind?
Take us through the 12 Minute Methodology you’ve developed…
If someone implements this, what are the pitfalls they need to look out for, so they don’t fall back into the trap of the subconscious?
Is it just a fact that people just do not have the desire and drive to better themselves or can they develop themselves to have it?
At the 27 min mark, John and I have a great conversation on beliefs and how it relates to drive. We also discuss more on the subconscious and awareness.
Talk to us about the deep-thinking you advocate…
Go to www.ThinkitBeit.com/ME there is a video and guide on the process for you.
Is there anything else from your study of Think and Grow Rich that we should know?
Best Quote: The success of anyone’s life comes down to the cumulative effect of their daily actions.
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This week’s Misfit Entrepreneur is Donnie Boivin. Donnie is a Marine Corp veteran, award winning professional sales trainer, and owner of Success Champions and Success Champions Podcast. After leaving the Marine Corp and working in sales and business for almost 20 years, at the age of 40, Donnie realized he was not living his dream.
So, he set out to create it. Donnie is author of best-selling book, How to Be a Success Champion, Business Strategy for Badasses.
What I love most about Donnie is his no BS, direct style. The guy gets results. So, I’ve asked him on the share his best on how you can do the same in your life and business.
Text “Success” to: 817-318-6030 (Donnie will send a bunch of great stuff to you)
After the Marine Corps, Donnie spent 20 years in straight commission sales. His last career was as on one of the top sales trainers in the country for the Sandler Sales Institute. He was all set to buy the business from his boss when his boss told him something that would change his life. His boss, out of love, said “Thank God, you are my retirement plan.” It was in that moment that he realized he was building something for someone else and was their retirement plan. 15 days later, he launched his company and went out on his own.
Nowadays he runs 6 companies, 2 of the top podcasts in the world, and has written 4 Best-Selling books, plus he owns a working farm.
What is a success champion?
What is a badass in business?
At the 10:30 mark, Donnie and I have a great conversation about the DCP formula.
What are the strategies you’ve used to create and build your businesses?
“Every lesson you learn in business is going to be applied again somewhere down the road…”
What are the best strategies that you advocate for gaining clients in today’s world?
At the 24 min mark, Donnie shares some examples.
Thoughts around story?
What are the elements of a great story?
LinkedIn for growing your business?
There are a lot of people out there working in a job, but know they are destined for something greater as an entrepreneur. What is your best advice for them on how to make the transition?
What lessons from owning a farm have helped you most as an entrepreneur?
Best Quote: Every lesson you learn in business is going to be applied again somewhere down the road…
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This week’s Misfit Entrepreneur is Dave Menz. Dave is known as the “Laundromat Millionaire.” He grew up in poverty and had to overcome tremendous challenge to find success. And he did it by doing something obvious, but unique – upping the game in an industry that was resting on its laurels, the laundromat space.
He started by doing what I have come to call “chicken entrepreneurship,” building a business on the side while working a job. And now he’s a millionaire multiple times over and the author of the forthcoming book, Laundromat Millionaire – the Grit to Elevate and Industry.
Dave has a true rags to riches story that I cannot wait for him to share with you.
Dave grew up poor in Flint, Michigan. He lived in a rough neighborhood but had good parents. They didn’t have much money, but they had a good family. He learned that no one was going to hand him anything, but that he could make it happen for himself if he pursued it. He always had an entrepreneur streak in him, but as he grew up, he “took the bait” of corporate America and had the stereotypical middle-class lifestyle.
It was in is late 20’s that he realized that it really wasn’t what it was cracked up to be. He had kind of sold out on his dream of being an entrepreneur. So, over the next 5 years he and his family lived well below their means and saved to buy a business. They didn’t know what it was, but they needed seed money.
Over those 5 years, he and his wife worked really hard at their plan and looked at every business he could find, but none of them checked all the boxes until he came across a laundromat a few miles from his house.
He didn’t see any red flags in his diligence, but he saw tremendous opportunity and he seized it. The laundromat was “a complete dump and losing money” when they bought it. After going to work, nowadays Dave owns 5 laundromats and the real estate with them and has built a multi-million-dollar business. They even had a laundry pickup and delivery service.
Now Dave’s personal mission is to elevate the industry.
Why did you choose the laundromat business over all the others you looked at?
At the 10 min, Dave talks about being an entrepreneur in the general sense and the gift that it is. Dave would find that he was proud to be an entrepreneur and own a business, but when told people what kind it was, he could see the look on their face. He also talks about the laundromat business in general.
What did you learn and do to differentiate your business?
Dave’s philosophy: As a human being, he wants to be a better version of himself each day. A better husband, a better dad, and a better business owner.
You found your business on Craig’s List. Was that luck or is there still opportunity to find businesses to buy there?
You talk a lot about “Grit.” Define grit how you see it.
At the 29 min mark, Dave talks about how he was grinding and pushing so hard, that he woke up one day and started getting ready for work and his wife looked at him and said, “What are doing? It is Christmas Day.”
“To get things in life that most people in life don’t ever achieve, you have to be willing to do things that other people are not willing to do.”
What advice do you have for those looking to build their business while working a job?
At the 38 min mark, Dave and I talk about self-education and the important of that journey in helping you as an entrepreneur. Don’t every stop pushing the envelop when it comes to your self-development.
Best Quote: To get things in life that most people in life don’t ever achieve, you have to be willing to do things that other people are not willing to do.
Dave's Misfit 3:
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