This week’s Misfit Entrepreneur is Eric B. Schultz. Eric is the author one of my new favorite books, Innovation on Tap, Stories of Entrepreneurship from the Cotton Gin to Broadway’s Hamilton. As a lover of history and entrepreneurship, this book was made for me.
Aside from the book, Eric has spent his career in entrepreneurial and leadership roles, including senior vice president of Midwest operations for American Cablesystems, co-founder and president of Atlantic Ventures, and chairman and CEO of Sensitech, a venture-backed business twice named to the Inc. 500 before being acquired by Carrier Corporation. He has also served as a CEO and partner with Ascent Ventures, executive chairman of HubCast, on the board of advisors of multiple other companies, and as a mentor for student start-up teams in the Brown University B-Lab.
Eric’s not only written an incredible book that I think every entrepreneur should read, but he has a wealth of experience and wisdom we can all learn from to help us on our journey.
LinkedIn – Eric B. Schultz
Eric has a degree in history and liberal arts background. He then went on to get an MBA in 1983. He then made the decision to go into entrepreneurship which wasn’t the thing it is today. His path took him through a number of entrepreneurial pursuits. His last position was at Sensitech where he helped move the company into a digital company and develop a data strategy. Eventually, they were acquired by Carrier Corp and he started doing some consulting. It also gave him some time to write. He had written a few books, but really wanted to write a book about entrepreneurship. In doing a further consulting engagement for Carrier and UTX, he found inspiration in the founders’ stories.
His goal with Innovation on Tap was to write a history of innovation for America across 3 centuries. It was almost overwhelming. He found his inspiration in an afterhours event from a venture firm’s pitch session. The idea was to bring all of these incredible entrepreneurs together in “a bar” and have them tell their stories. Just like the stories being told at afterhours events he had attended.
Who is Steve Dodge and why is the book dedicated to him?
Define Innovation as you see it in today’s world…
What advice can give entrepreneurs on how to better develop their skill of innovation?
At the 21 min mark, Eric tell us about the 6 themes of entrepreneurship…
At the 26 min mark, we have a great discussion on Consumerism being one of the biggest shifts in entrepreneurship.
“Consumerism is a fundamental change where America went from a land of sober and frugal citizens defined by what they produced, to a land of ravenous consumers defined by what they purchased.”
What are the 3 lessons of entrepreneurship?
What are the elements of a great business model?
What lessons didn’t make the list of Top 3?
Not everything you learn today is not necessarily applicable today. Sample information widely. You never know when the information will make itself useful to you.
Which entrepreneur is your favorite and why?
Best Quote: Not everything you learn today is not necessarily applicable today. Sample information widely. You never know when the information will make itself useful to you.
Eric's Misfit 3:
Smile Software (Text Expander) - TextExpander.com/podcast
The 5 Minute Journal - www.MisfitEntrepreneur.com/Journal
This week’s Misfit Entrepreneurs are Clay Clark and Dr. Robert Zellner. You may have heard of them before as they are the hosts of the #1 Business Podcast The Thrivetime Show. But these two entrepreneurs are much more than that. Clay is the founder of Thrive 15 and was the U.S. SBA Entrepreneur of the year. Dr. Zoellner built a massive optomology practice and is a venture capitalist.
Together, Clay and Robert have built over a dozen multi-million-dollar businesses, been featured everywhere from Forbes and Entrepreneur to Fast Company, and have interviewed and worked with some of the most compelling and successful business leaders of all time.
My goal is to squeeze every ounce of wisdom and inner misfit I can get out of them in this episode. So grab a seat and get ready…
www.thrivetimeshow.com/free-resources for everything Clay has ever written for free
Send a screen shot of your review for the Misfit Entrepreneur to email@example.com and you’ll get a free ticket to their event!
Dr. Zoellner started out with an optometry practice with a goal to grow it to other practices/offices focused in the Tulsa, OK area. Along the way, he got into a number of other businesses from auto-auctions to even buying a bank. And about 4 years ago, he connected with Clay. He now has 8 businesses.
At the 6 min mark, Dr. Zoellner shares the story of how he ended up buying a bank.
Clay started out with DJ business called DJ Connection that he started out of his dorm room in college. At the time, his wife worked for Dr. Zoellner and told him that he should meet him as he was a successful entrepreneur. As Clay says, he was just a punk kid and when he met with Dr. Zoellner, he helped with understanding how to market his business and run it in the best way. Clay grew DJ Connection into the largest DJ wedding service in the U.S. He was a millionaire by 27 and hired his dad, which was a huge goal of his. As a fun anecdote, as Clay grew the business he wrote a parody song about the school’s president that got him kicked out of school.
Josh met with Clay a couple years ago when it was just him and a van and have grown the business over 6x in just a few years. He uses the systems that Clay and Dr. Zoellner teach.
What is the running theme or one thing that makes the biggest impact on success?
You must also have your “3-Legged Marketing Stool.”
What is some of the best advice on how to market?
Josh example – 3 things that are always going:
Get reviews – studies show people read reviews.
Dr. Zoellner – you can play to Google game, but if you are a local company, or even national – you want to dominate the airwaves, TV, radio, billboards, direct mail, etc.
You’ve built this thriving coaching and mentoring business, the most reviewed in the world – tell us more about the principles you teach in addition to what we’ve already discussed.
F6 – Design your F6 life. Define the following for yourself:
What has been your bigger failure and mistake as an entrepreneur and what did you learn from it?
At the 54 minute market, Dr. Zoellner talks about being a misfit.
Best Quote: "If don't design your life, someone else will..."
The 5 Minute Journal - www.MisfitEntrepreneur.com/Journal
Tunnelbear - TunnelBear.com/Misfit
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 firstname.lastname@example.org. We’d love to share it.
This week’s Lesson for Hannah
Hannah, I want to talk to you about the importance of little things in our lives. I didn’t used to pay much attention to the little details. I had been told that the little things matter, but I had never put too much stock in it because “who wants to spend time on the little tiny things when there is so much else to do.” I never realized how important they truly were until your mom and I found you.
That’s right…one tiny little choice is what is responsible for us being a family. One, miniscule, little, tiny, choice. A checkbox. You see, when your mom and I were going through the process to be able to find you and bring you home, we had to make some decisions. Some of those were hard as we had to choose if we would be willing to work with ailments or problems that our child could have. It was an emotional roller coaster ride of feelings because, as you might be able to understand, if we didn’t check the box for a certain ailment or problem, did that mean we didn’t care or worse, what if you had an ailment that we didn’t check the box for – we would miss finding you.
It all came down to one, unlikely checkbox – hyper and hypo thyroid. Your grandmother has one of these, so we knew about it and knew how to treat it. When we checked the box and reviewed it with our adoption counselor, they said, “Are you sure you want that, we rarely, if ever have had a child with that issue.” We told them we wanted to leave it on there just in case. I call this miracle #1 in our family journey.
Next, once we had done everything to be able to start looking for you, we went through a number of months where we would get our hopes up when China would release the children available for adoption, only to not even get a phone call. It was another emotional rollercoaster ride. Every month when the time came, we would get our hopes up and the time would pass and we would not get a phone call. It was discouraging to say the least. But, we held fast to our belief that you were out there and when the time was right, we would find you.
Then, on a beautiful September day, we got a call out of the blue from our adoption counselor telling us that they had found a child that fit what we were looking for. We were very confused as the children for the month had already been released by China and we had not been contacted. We asked how this was possible and our adoption counselor told us that the agency actually worked directly with one orphanage in China, just one in all of China, and that once in a great while, they had a child that fit what one of their families was looking for. When we asked our counselor what had made them think of us – they told us that when this child came up in the system, she had hyperthyroid, and that we were the only family in the system that had checked the box for that ailment, so we were the only ones they could call. That child was you.
Think about that for a second. Miracle #1 was checking that little box for hyperthyroid. Miracle #2 was the fact that no on else in the world knew about you, but us. You never were on the list to be sent out to the world from China. You were never given the chance for another family. It was us and only us from the start. We were destined to be a family and you were destined to be my daughter. They say the lord works in mysterious ways – well the lord not only worked a miracle to find you and set you apart for just us to be a family, but he also taught me and your mother the valuable lesson of the incredible importance of the littlest of things, that wonderful day in September.
And I have taken the message and used it in my life ever since. It is amazing how many things can be traced back to a small, seemingly insignificant choice or the incredible value that the littlest things can have. I have often said that “awareness is the catalyst to and of change.” Once you are aware to something, you can use it in your life. Since I have become aware to the power of little things, I can say that it has made some of the biggest impacts in my life – not just in finding you, but in business, relationships, opportunities, health and on and on.
And when you really think about it, it is the littlest of things that make the biggest differences. Olympic gold medals are won by a hundredth of second. Chance meetings by people turn into marriages. And I’ve already talked about your chances of even being alive in this world.
That brings me to Miracle #3, another little thing that made a huge difference – maybe THE difference. When we brought you home, we started taking you to the doctor for treatment, and after 6 months, your doctor looked at us and said, “You know what, I think she was mis-diagnosed. She doesn’t need the medication, she’s perfectly healthy.” Now, think about that for a second. For you to be found by us, you had to have been diagnosed with an ailment or we would not have found you, but you were actually mis-diagnosed and never should have had that ailment in your file. This little mistake by a doctor in China made everything possible.
Hannah, the biggest lesson I want you to take away from this is that there are great miracles in the littlest of things. Lifechanging miracles. And that is why, you will do well to pay close attention to the little things in life and see the miracles and opportunities they provide. Don’t overlook them or take them for granted. More importantly pay close attention and maximize them in everything you do. The littlest of things can make the biggest difference.
I love you,
Best Quote: You will do well to pay close attention to the little things in life and see the miracles and opportunities they provide.
This week’s Misfit Entrepreneur is John Berardi. John is a Canadian-American entrepreneur best known as the co-founder of Precision Nutrition, the world’s largest nutrition coaching, education, and software company.
He's also the founder of Change Maker Academy, devoted to helping would-be change makers turn their passion for health and fitness into a powerful purpose and a wildly successful career. And he’s the author of the best-selling book Change Maker.
Over the last 15 years he's advised companies like Apple, Equinox, Nike, and Titleist, among others, as well as the San Antonio Spurs, Carolina Panthers, US Open Champ Sloane Stephens, and 2-division UFC Champ Georges St. Pierre. He's also been named one of the 20 smartest coaches in the world and 100 most influential people in health and fitness.
Regardless if your passion is in health and fitness, there is a lot you can learn from John about entrepreneurship and life and I’m excited for him to share it with you in this episode.
Health and fitness was not the likely path for John. He was born premature, had asthma and allergies, and as he grew up was very much an introvert. It wasn’t until he got to High School that he began to study health and fitness to better himself. It then that his passion for it was born.
But, it wasn’t without major challenge. Because John was more introverted and lacked self-confidence, it manifested in abusing drugs and alcohol at young age to cover up his pain. He fell in with the wrong crowd and one night was out driving around drinking with friends and got into an accident and miraculously survived without a scratch. That was his wake-up call and when he made the decision to focus on his health. He started going to the gym, found a mentor, and didn’t look back. The mentor even gave him a job at the gym.
John went onto to become personal trainer paying his way through college, but he knew he needed to learn more. He need to learn the psychological side. Combining the two disciplines is what helped to birth Precision Nutrition. Precision came about right as things were transitioning off of dial up to high-speed internet and Precision was positioned well to grow. From the start they grew the company remotely. As John said, back then, they were “weird.” They were totally remote. They didn’t have an organized management structure. Instead, they used Holocracy.
In 2017, John and his co-founder, sold the majority of the ownership in the company and John has been focused on unique projects such as Changemaker and others.
In our lives, we have moments that help define us. There is more to the car accident story where your friends actually got the wrecked car back on the road, but you decided to walk home. They ultimately got arrested. What was it that told you to walk away in the moment?
At the 17 min mark, John and I have a great conversation on how what we go through shapes us, why you should not regret, and how you should learn lessons from the past while getting perspective on the ones you are making right now.
What do you feel is most important to consistently succeed at high levels?
At the 29 min mark, John talks about how the book Principles by Ray Dailo was a direct result of his co-founder Phil. Ray had not planned a book on what then just a sort of pdf manifesto that he had put out. “The best ideas are not in your own head.
"The best ideas live in the interface between you and others. It is when you pile ideas on top of each other that the best things emerge.”
Tell us about Changemaker. What does it mean to be a changemaker?
What do you teach people about how to find their calling?
You should have your best self, coach you and build this into your routine. Set time aside where you are in a peaceful mind set, able to think clearly, and work on a problem or set of problems. Set aside time to let your best self show up to help you.
At the 48 min mark, we talk about the importance of structure in our lives, but how it needs to be a flexible structure.
Are there any principles from the book or thoughts you want to leave us with?
Best Quote: "The best ideas are not in your own head. The best ideas live in the interface between you and others. It is when you pile ideas on top of each other that the best things emerge."
John's Misfit 3:
Hello Misfit Nation! Welcome to a special New Year’s edition of the Misfit Entrepreneur. Last week, we did our year in review where I attempted to boil down the best advice from our guests through 2019 for you. And I can’t thank you enough for all the comments, feedback, and sharing of the episode. A number of people sent me questions asking what my best advice was for the year and for succeeding in 2020. Well, I’m humbled that you would seek this from me and I’m honored to give it to you to kick off the New Year! So let’s jump in.
There is so much that I would love to share with you, and you get some of this in the Lessons for Hannah episodes that I do throughout the year, but I don’t want this episode to be hours long, so I’ve spent a lot of time thinking and have narrowed everything to 10 specific things I think you should know going into 2020 to maximize your success. The things I’ve chosen are not the traditional things you would hear like “set goals” and things like this. I’ve really looked at some of the more unique things I’ve found that have made a major difference for me…My Misfit side if you will and want to share those with you. I also am going to give you one action item to take with each one.
Make sure to get your copy of the guidebook with action items that goes with this episode. As a bonus, you also get the the Top 10 Lessons to Thrive and Succeed from the Misfit Entrepreneurs. Just got to this link: