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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!
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Now displaying: October, 2022

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!

Oct 26, 2022

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 support@misfitentrepreneur.com. We’d love to share it.

This Week’s Lesson for Hannah

Hannah, In this episode, I want to give you 5 simple pieces of everyday wisdom. I have a lot more than 5 but will continue to create episodes like this into the future giving you them a few at a time.

After doing these episodes for so many years, I’m amazed at how much there is still to teach and share with you. It seems like it never ends and that is the thing, I don’t think it really does. There will always be something for me to share and give to you and I hope that you can take as much as you can from these episodes to help you in your life. ​

With that said, here are 5 pieces of everyday wisdom you can use…

#1: How You Do Anything is How You Do Everything

You’ve heard me say this to you before but let me explain it a little more here. In life, you want to do things to the best of your ability. You want to put your best foot forward in everything you do. That is the essence of How You Do Anything is How You Do Everything. It is taking pride in all you do and doing it at your best. Whether it is cleaning your room or the work that you or the interactions you have with others, do not short-change yourself or your abilities. If you start to lower your standards in one area it will bleed into others. Make it a mission to be your best in all things.

#2: What Feels Most Uncomfortable is Probably What You Need to Do

You will find in life that many times when it feels most uncomfortable to do something, that is most likely the best time to do it. For example, in trading, some of the most uncomfortable trades I have made over the years have been the biggest winners. In racing Ironman, when my body wants to quit the most is when I have my biggest breakthroughs as I keep going. In business and life, standing up for the right thing in face of everyone else shying away from it, is uncomfortable, but what needs done. That brings me to my next piece of wisdom.

#3: Most of the Time, the Simplest Answer is the Right One.

We make things a lot more complicated than they have to be. Einstein said, “Make everything as simple as possible, but not simpler.” The best path is usually the simplest and most straightforward one. We have to cut out all the noise and see it for what it is. In short, go with gut. Keep it simple.

#4: Beware Following the Herd

When I talk about the “herd,” I’m really talking about groupthink. When everyone thinks the same thing and will not allow any dissent, discussion or questioning of that way of thinking – they are probably wrong. Thomas Jefferson once said, “Question with boldness even the existence of a God; because, if there be one, he must more approve of the homage of reason, than that of blind-folded fear.” Don’t fall prey to blind-folded fear and follow the herd over the cliff. Instead work from a place of reason andlogic and thing things through. Don’t let emotion alone drive your actions or decisions, especially the big ones.

#5: There are Few Things Guaranteed in Life, but the Ones That are – the Love of Your Family, The Love of God, and a Few Lasting Friendships, are worth every ounce of time and energy you invest in them.

I think that pretty much says it. You have a family that loves you, a God that loves you, and in life will have a few lasting friendships. Cherish them and invest your time into them. Don’t neglect them.

Hannah, and everyone else listening, these are 5 simple, but powerful lessons that will serve you well in life. Live them and embody them and put them to work for you.

I love you,

Dad

 

Best Quote: There are Few Things Guaranteed in Life, but the Ones That are – the Love of Your Family, The Love of God, and a Few Lasting Friendships, are worth every ounce of time and energy you invest in them.

 

Misfit 3:

  1. Put these 5 pieces of wisdom to work for yourself.
  2. Don’t fall prey to blind-folded fear and follow the herd over the cliff.
  3. Keep things simple and listen to your gut.

 

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Oct 19, 2022

This week’s Misfit Entrepreneur is Casey Cavell. Casey is a serial entrepreneur that started his first business at 21 and then went on to start, buy, or invest in over two dozen businesses over the last 15 years, worth over $17 million.

Because of his success and selling some of his businesses, he followed his passion to help other entrepreneurs by creating Legacy 4:12 an entrepreneurial team of advisors, mentors, investors, and experts who are called to serve the growth-minded entrepreneur.

If that is not enough, Casey has been an investor, advisor, and influential figure in the NFT community, assisting project founders and community leaders. Casey is a member of the Bored Ape Yacht Club, VeeFriends, Gutter Cat Gang, and several other high-profile NFT communities.

This is one of those interviews where we can cover the whole realm of the entrepreneur spectrum and I look forward to doing just that.

www.Legacy412.com (Free workshop)

Casey grew up with an entrepreneur father seeing the freedom that his dada had. But, he also saw the ups and downs. He knew he could learn from his dad’s experience, so he studied them and got the entrepreneur bug. Casey went to college to play baseball, but got hurt and decided to play and compete in Texas Hold’Em. He studied the game and starting out lost his money. But, realized that the game is really about longevity and the longer you can stay in, the easier it is to win. You are not playing against the casino, you are playing against other players, so your odds are better.

It's the same in business. If you develop a good strategy and surround yourself with the right people, you can succeed. He went to do very well playing Hold’Em and became the youngest player in the World Series of Poker. But he realized he didn’t want to work for money – he wanted his money to work for him. So, he started investing in businesses. As Casey says, he is a “turnaround guy.” He takes businesses that need to improve their systems and processes and works with them. He did that heavily for about a 10 year period and in 2011, he was able to exit one of his businesses and follow a passion to own a sport business. He bought a franchise called DBat in Atlanta, Ga. He did it buy simplifying the business model, taking care of his customers and taking care of his employees.

But he got burned out. He was doing everything and needed to remove himself from the day to day. It was at this time that he learned about the EOS Model and found an integrator to partner and help him run the business. This allowed them really scale and spend less time in the business.

At the 7:30 mark, we talk about the EOS model and the importance of the Visionary/Integrator duo. How were you able to start, buy, build and run 20 businesses over 15 years?

  • He learned from others.
  • He knew what he wanted and found others that had it asking them how to they did and putting the information into action.
  • He is gifted at simplifying a business and used that to his advantage.
  • He paid people for advice as well.

Any type of business that you gravitate to more than others?

  • He did really good with his baseball and softball academies because he took what was complex and simplified them.
  • Find out what you are the best at and how it relates to making money.
  • The businesses he works with a hypergrowth minded. They want to be the best at what they do.
  • They have a business model built, but they need help in optimizing it and Casey brings that expertise.

How do you find your businesses that you buy or invest in?

  • Find those that access to the people you are looking for and network with them.
  • Casey uses an example of someone who wanted to buy a plumbing business and was talking to individual plumbing companies. Casey advised them to go to the head of local trade group/association for plumbers and talk to them letting them know that they are looking to buy.

Once you have invested in or bought a business, besides the EOS framework, are there any other processes or systems you have found that are important to implement?

  • EOS gives you about 30% of what you need. The foundation.
  • Is very important to build a great culture. There is a company out there called Giant Worldwide that does a lot of culture building activities and Casey has taken some things from them like the 5 Voices.
  • He also uses Kolbe assessments.
  • Businesses are about people. And the better you understand yourself and who you are, the better you are going to be to understand others and relate and communicate.
  • Get a coach that mentors you to be a better you.

What is the reason most businesses fail?

  • They run out of money, or they burn out and give up.
  • Sometimes people are not ready and try to do it on their own. The pros have coaches.
  • Everyone needs somebody to help them in becoming better.

Thoughts on the long game?

  • People are either spending their time working on things that they are good at, but don’t like doing of like doing but not good at.
  • The key to succeed as an entrepreneur is to get out of doings you don’t like, even if you are good at it. If you don’t you will burn out.
  • 70/30 is the balance. 70% of your time doing the things you are good at and like doing. 30% on what you don’t like. At some point you will need to hire the complementary person.

Building a team is one of the most important things you can do. Talk to us about what we should know?

  • A lot of entrepreneurs put the keys to a business in the hands of those that are not ready to drive it.
  • Think about if you had a million-dollar business…now imagine, it is a million dollar car. Would you hand the keys to a new driver and let them take it? No. You would want someone with proven experience.
  • If they don’t have the experience, they don’t know and can be reckless, etc.
  • Hire people with different skills set s that compliment yours.
  • EOS has 2 key roles, the Visionary and the Integrator. The visionary dreams big and set the big milestones. The integrator builds the systems to help them get there and keeps things on track. Which one are you?
  • You want people thinking as owners or that have some bit of ownership at least at your leadership level, but preferably all levels.

Step by step process to position a business to stand out?

  • Get your niche that you will be the best in the world at.
  • Simplify that offering to be able to deliver and scale.
  • Simple scales, complex fails.
  • Know you target market. Who are you serving? Don’t go wide, go deep.

How does a business create the unique offer that gets people in the door?

  • Who do you help? Do what? So, that what?
  • If you can answer those questions and dial them in, you will find the offer presents itself.

How does an entrepreneur remove themselves from a business?

  • Every quarter write 2-3 things you are currently that you do not want to by the end of the quarter.
  • Then look at who in the business it makes more sense for them to do or outsource to. Or does a hire need to be made and needs done to put the hire in place.
  • Look at things in terms of your time and money. What are you worth per hour and can you deploy yourself to focus more on the highest price per hour duties. If so, taking the lower cost duties off your plate and giving to someone else so you can focus will generate the revenue to easily pay for giving up the other duties.

What other lessons can share from your entrepreneur journey?

  • Learn to hire well and put in a good process.
  • People are your biggest asset.
  • Make sure your roles and responsibilities are clear.
  • Track your data. Have KPIs that help track your performance to your goals that are tracked weekly.

What surprised you the most on your journey to this point?

  • Casey has made a lot good decisions and a lot of poor decisions.
  • There are a lot of woulda, coulda, shoulda’s, in life. It’s ok. You are where you are in life because that is where you are supposed to be.
  • Take to self-reflect and learn. ​

What is your best advice for entrepreneurs just starting out?

  • Ask those that have succeeded what they have done. How did you do it?
  • Then learn and put that into action for yourself.

 

Best Quote: People are either spending their time working on things that they are good at, but don’t like doing, or like doing but not good at. The key to succeed as an entrepreneur is to get out of doings you don’t like, even if you are good at it. If you don’t you will burn out.

 

Casey's Misfit 3:

  1. Have a written vision for your life. Share it with others.
  2. Have a written vision for your family. Share it with your family.
  3. Have a written vision for your business. Share it with business partners and team members.

 

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Check out Silver Mountain Resources as a potential Silver investment play. (Check with your financial advisor first) www.AGMR.ca

 

Oct 12, 2022

This week’s Misfit Entrepreneur is Chris Croner. Chris is an entrepreneur and sales psychologist with a Ph.D. in Clinical Psychology. He is the founder of SalesDrive which has helped over 1400 companies select and develop high-performance salespeople using their methods and assessment technology.

Chris is also the co-author of the best-selling book, Never Hire a Bad Salesperson Again.

I am excited to have Chris on because sales and selling is one of the topics I am very passionate about. Sales are the lifeblood of a business and great salespeople who are devoted to the success of their companies are diamonds in the rough that every entrepreneur should be seeking. Chris has developed the methodology to find and hire them.

www.SalesDrive.info (complimentary assessment)

Chris’s background was in clinical psychology, and he specialized in providing consulting to businesses management. He started at a firm called Whitmer and Associates which specialized in executive assessment. When companies wanted to hire key leaders or new CEO’s, they would hire firms like Whitmer with people Chris that would evaluate them. During this time, he worked to design something as rigorous as the evaluation for executives for salespeople because they are such integral role to the success of a business.

In October of 2002, he began doing that work and then in 2005, he went out on his own and founded SalesDrive and published the first edition of Never Hire a Bad Salesperson Again in 2006.

For over 20 years, he has been obsessed with studying what makes a great salesperson.

What makes a great salesperson?

  • They are hunters who focus on new account acquisition. This is the #1 position companies have a challenge filling.
  • They have all the things you would expect relationships skills, good communication skills, etc.
  • But there are 3 non-teachable characteristics that are far more important to look for to find a great salesperson.
  • #1: The Need for Achievement. They want to do well for the sake of doing well. The naturally want to set the bar high and continue to beat it. They are focused on producing excellence. This is also needed for successful entrepreneurs.
  • #2: Competitiveness. They want to be the best. They also want to win the prospect or client over to their point of view.
  • #3: They have great optimism and resilience that they will succeed and keep going until they do.
  • Those 3 characteristics are what Chris calls Sales “Drive.”

Any other uncommon traits you have found that entrepreneurs should looking for when hiring?

  • Thick skin. Can take the rejection.
  • It is good if they have 2-3 years of relevant experience at a similar sized company and role. They’ve gone through “Sales 101.”

At the 10 min mark, we talk about how athletes many times lend themselves to the role. But, it is important to look at how they succeeded as athletes and their work ethic compared to their peers as an athlete.

What does it mean to be Driven?

  • They must have the 3 elements: Need for achievements, competitiveness, and optimism.
  • The one that is most important of the 3 is the Need for Achievement.
  • They must have the passion to get every day competing in a incredible tough and hard game in business
  • . Research shows that Drive is the easiest thing to fake in an interview, so you must be careful now you interview for it.

Talk to us about personalities. What personality types or combinations work out best?

  • DISC is a good general test.
  • Chris created the Drive Test specifically for sales.
  • Chris shares details about how they setup the Drive Test and it is best to just listen.

I’ve heard you say that resumes lie, and salespeople can do their job in the interview process, tell us more about that and what we should be looking for in the interview process…

  • Many people present themselves well but are not a great hunter-salesperson.
  • The key is to improve the interview process so that you can discern the difference between what they are telling you that you want to hear vs. who they really are.
  • One question you can use when reviewing a resume is the “Magic Wand” question, especially when you seem to get guarded answers. For example, “If you could wave a magic wand and change 3 things about your prior job so that you would have never wanted to leave, what would those be? This opens up to truths you can dig in on.
  • You are looking for reliability and consistency through their past.
  • The best predictor of future behavior is previous behavior.
  • You also want to maintain control of the interview, so come into the interview with your questions written down and then direct the interview.
  • It is also your job to be well-prepared. Hiring people is one of the most critical elements to success – don’t wing it. And the cost of a bad hire is tremendous.

Is there a framework that you can share to run a better interview process?

  • 3 P’s
  • Plan the interview effective and be prepared with questions.
  • Probe the past to understand deeply what the candidate has done previously. 2nd, 3rd, 4th level questions. Dig in.
  • Patterns. Look for patterns in the interview. Are they responding as well in the beginning of the interview as the end. Are there conflicts/contradictions in their answers.
  • Be a little like a prosecutor but ask for their help. “Help me understand….”
  • Chris provides a guide with scoring in his book.

Where are the best places to find great salespeople?

  • Passive candidates are many times better than active candidates – people that are not looking for a job.
  • Make sure they are not a job-hopper.
  • Make sure they can show metrics of their success and what they have done.
  • They can come from a variety of backgrounds, but are many times attracted entrepreneurial type roles.
  • Networking to find them and sharing with others what you are looking for is a great avenue.
  • You should always be recruiting and looking.

What about hiring a sales leader or manager? What should an entrepreneur look for there?

  • Be careful hiring or rewarding a top performer from an existing team.
  • It is different to be successful because of the efforts of others than by your own efforts.
  • It is a different type of mindset and focus, because it is not about the leader. It is about the team which a huge shift.
  • You will want to hire someone who knows it is not about them, but about helping each individual salesperson succeed and that is their passion.

What are some of the biggest lessons you’ve learned on your own entrepreneur journey?

  • The biggest challenge was getting comfort with ambiguity. You have to be comfortable with uncertainty.
  • Chris started taking classes at Second City for improve to help him become comfortable with uncertainty and having to deal with the curveballs as they came up and learned to roll with the punches. He used this to help him in his business.
  • He learned that market will dictate what it wants, and you must be able to adapt, even if the markets wants something other than you think it does. ​

Any advice for the entrepreneur when it comes to them selling personally?

  • You are the hunter, especially in the beginning.
  • Look at it like a process, system.
  • You have to not only be a good salesperson but evangelist.
  • Focus on the process instead of the goal. Be great at each step.

 

Best Quote: There are 3 non-teachable characteristics that are far more important to look for to find a great salesperson - the need for achievement, competitiveness, and great optimism.

 

Chris's Misfit 3:

  1. You become what you think about. What you spend your time thinking about day to day is what becomes your life.
  2. Whatever you want in life, work your tail off at it and you will get it. Do whatever it takes and find a way.
  3. Man’s Search For Meaning: The one freedom no one can take away from you is the ability to control your attitude and the way you respond to things.

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Oct 5, 2022

This week’s Misfit Entrepreneur is Judy Wilkins-Smith. Judy is a world-renowned Systemic Work and Constellations Expert, Fortune 500 Executive Coach, and Author of Decoding Your Emotional Blueprint: A Powerful Guide to Transformation through Disentangling Multigenerational Patterns.

Basically, Judy can teach you how to decode your programming and look at the patterns from your ancestors to see if you have the DNA of an Entrepreneur and more importantly how you can learn to become a better entrepreneur.

Wouldn’t you want to know what your past generations can tell you about your future as an entrepreneur? I do and find this topic fascinating, so I asked Judy to come on and help us better understand the impact of our ancestors on our lives.

www.JudyWilkins-Smith.com

Judy was born and raised in South African and moved over to the US with her family for the opportunity. Her father was killed shortly after they arrived. She started to study and decided to write books and stumbled onto the topic of understanding what is past down in behavior from ancestors. She met a mentor who helped her to better understand the topic and as she says, “Never looked back.”

She started working with and helping individuals and companies came to her asking if she could help their companies and executives in the area of pattern recognition and performance improvement.

We all know about ancestry.com and other companies like that, but that is just scratching the surface. What can entrepreneurs learn from their ancestors about their entrepreneurial DNA?

  • Judy works with “ancestry 2.0” which answers the question, “Why does it matter?” What does it matter what region your family is from or events that happened in your family history?
  • These things create thoughts, feelings, actions that become patterns or emotional DNA that is passed down through generations and impact people.
  • The big “aha” is that with emotional DNA, you can change it. You can change the patterns or re-write them.
  • Entrepreneurs tap into the chapter that only they can write is primed by their ancestors.

How can an ancestor, from say the 1300s, have an impact on me now?

  • That ancestor passed on behaviors and patterns down through generations and shapes how people rise up or subside.
  • With epigenetics, if an event is substantial enough, it can create an imprint on DNA.
  • The Dutch study of a town who were surrounded by Nazis and thus had little to no food and were consistently in a malnourished state.
  • When the children and grandchildren of these people were studied, they all had the markers in their DNA of elevated cortisol and malnutrition.
  • So, our ancestors have a real impact on us.

Explain epigenetics in more detail. How does it affect things like our attitude and world view?

  • When you watch your mom and dad, you pick up things, patterns/behaviors.
  • You will learn things but have a choice. If there is something you don’t like or behavior you feel is not good, you can choose to go a different way.
  • This library of responses is what we use day to day to respond to situations in life.

How do we identify programming that may be holding us back? And how do we change it to what we want?

  • There are always patterns that you want to start and stop.
  • You need to focus on them and write how you truly feel about it and the meaning you give it.
  • If you look at it and look for others in your family that have similar patterns. Are you following their lead? Do you want to follow in that pattern?
  • If not, you must decide to change the pattern and path so you don’t do things “just like mom, dad, grandma, etc.”
  • When you say “I wish I could…” or “I would really like to.” These are signs that you have a pattern to change.
  • At the 14 min mark, Judy explains this process in detail. It’s best to listen.

“99% of the time, you, the entrepreneur are not an imposter. You are a pioneer. So, don’t feel like you are ever an imposter” You don’t have the answers, but you are willing to go look for them and figure it out. Pioneer.

At the 17 min mark, Judy talks about “systemic work.”

  • It’s the need to “belong” that keeps people stuck and from breaking out.
  • You’ve got to build the weight for the want that is stronger than the subsidence into the system.

Is there a set of steps that someone can follow when they feel they are pulled back into the comfort area?

  • Get 2 pieces of paper: One for where you are going and one for where you are.
  • On one piece, write down all the reasons why it is good idea not to move from the status quo and on the other write down everything that will happen for you if you do.
  • Keep them and when you have these moments where you feel like you are falling backward, look at these two pieces of paper.
  • Will you decide to quit and go back to old ways or keep going to reach the things that will happen if you do.
  • It’s literally working it through logically in our heads.

Talk to us about Desire…

  • The mind has to tell the body a story it can believe.
  • If your body believe what the mind tells it, that is your new reality.
  • Deep burning desire drives this.

How does someone use systemic work to help them on their entrepreneur journey and reach their potential?

  • It is constantly being mindful about “What am I thinking?” “What is it telling me?” And “what meaning am I giving it?”
  • Most importantly, what is my mind telling my body that my body believes?
  • What do you believe and where did it come from and what do you choose to believe?
  • One of the most important things to be aware of is the opportunity to pivot and grow. How do you teach yourself to see life?
  • Thoughts, feelings, actions….
  • It’s not hard work. People tell themselves terrible things all day long and believe them. That’s not hard work. Flipping it the other way isn’t either. It’s just a reorientation.

What are constellations and why are they so effective?

  • Constellations are the breakthrough piece.
  • They are a 3D process.
  • It works best if do it with a live picture in front of you of the challenge or way of thinking.
  • Judy uses an example of money. Maybe you have the same views on money as one or both of your parents. Do you realize that this is their view and doesn’t necessarily need to be yours?
  • These limiting patterns can be found quickly. Then you can find the limitation, the issue, its’ origins, its effects, and how it has really affected you and then what a different possibility may be like.
  • You can then re-wire the brain and the body.
  • Doing this work can unlock things that have held us hostage for years.

Other advice?

  • There is no such thing as a trainwreck, there is just another possibility.
  • Ask “what more is possible?” It will lead you to new ideas and possibilities.
  • Remove negative self-talk.
  • Have a very clear awareness that life is not just life, but an adventure that is yours to shape.
  • Don’t play the role of the victim. Take back your power.
  • Show up. Show up. Show up. ​

Thoughts on victimhood/victimology?

  • The reason we have so many issues in the world is that we have been taught to be victims.
  • If you want to transform, you have to find the areas where you feel you are a victim and go beyond it.
  • Victimhood is a comfortable way to fail. Don’t short-change yourself.
  • Victimhood and Victimhood industry is the big lie.
  • Never let someone else tell you what you are capable of or what your value is.

 

Best Quote: You, the entrepreneur are not an imposter. You are a pioneer. You may not have the answers, but you are willing to go look for them and figure it out. Pioneer.

 

Judy's Misfit 3:

When building your business. Inspire, don’t drive. Empower others to drive.

You are not broken. No one is. You may be breaking through, but you are not broken.

As an entrepreneur, you have a very big responsibility. You have the potential to change the emotional DNA of the world. You get to write the story. Don’t forget to take your own full place.

 

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