Episode highlights:
- The corporate environment and the entrepreneurial environment are very different. If you’ve spent a long time working in corporate settings, it’s important to understand that you will need to shift your mindset and do a lot of unlearning and relearning if you are going to be a successful entrepreneur. (8:49)
- If you’re running a business and you constantly have a lot of stuff to do but your business isn’t growing, it would be beneficial to bring in a third party to help give you a “helicopter perspective” (i.e. looking at your business with a broader lens) so that you can get back on course. (11:02)
- Sales, service delivery, and financial engineering are the three areas that you need to master as an entrepreneur, and your focus should be equal across all three. If you try to overtrade as you scale, you are likely to fall flat. (15:20)
- There is huge value in looking backward in order to move forward. Look at your original business plan and rework it, taking into consideration what you know now that you didn’t know then. (22:08)
- If you aren’t passionate about the purpose of your business, you are more likely to veer off-course. It’s vital that you ensure that your company culture and mission resonate with you and your team. (24:13)
- Being comfortable in your own skin is one of the keys to extraordinary success. When you know what you want, and are not influenced by external factors, you will go far because the internal drive is a very powerful force! (27:43)
John’s best advice for entrepreneurs:
“The mission statement needs to resonate with the business owner, and everyone who is in the business.” (29:00) It’s important that you feel a strong affinity with the purpose of your company because that is what will keep you and your team on track!
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