Today we discuss business debt, keeping your mental state during times of great difficulty, and choosing relationships that you don't drop the ball on.

Welcome back to the 86th episode of the Hard Thing Podcast.

Today I share my conversation with Tab Pierce, business owner, and author. Feel free and sign up for his Refiners Conference. You can email him for a 50% discount and make sure to mention you came from the hard thing podcast. His email is [email protected]. Don't forget to ask him about his opportunity pipeline.

Tab starts off the show by describing being in $750,000 in debt to people like the IRS, Loan Sharks, and more.

Today's a full episode of great business insights. Some of the highlights of today's episode are:

• Adjust your expectations. If you are starting a business assume it will take 3x as long or as much money to do what you want to do.
• Avoid the control of emotions. While business is very emotional, you need to avoid making emotional decisions.
• Make value over and beyond your paycheck.
• Be willing to make humble sacrifices that actually produce results (i.e. driving for Uber while managing a million-dollar company)
• Keep your mind straight. You are your greatest asset and you go, everything else crumbles down too.
• Avoid time thieves and do deep planning to do what's most important.
• Identify relationships in which you can't drop the ball.

As I said, it was an amazing episode full of insights and Tab left us some action items to make sure we put into practice what we learn:

1. Adjust your focus to the long game
2. Adjust your expectations
3. Do deep planning
4. Give yourself some credit.

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