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Kenny Nguyen is the CEO and Founder of Big Fish Presentations, a company whose mantra is turning presentations into experiences. Kenny and his entrepreneurial/presentations tips been featured on TEDx, Hubspot Inbound Conference, General Assembly, Forbes, Entrepreneur Magazine, Yahoo, Business Insider, Mashable, Huffington Post, and the Washington Post. He is a co-author of the McGraw-Hill published presentation book, "The Big Fish Experience: Create Memorable Presentations that Reel in Your Audience."
Secret – timesaving techniqueKenny writes down his to-do list every single day -- block out your schedule completely and don't forget reflective time. ONWARD!
Daily habit that contributes to successDon't say yes to everything -- Kenny says no a lot.
Could have ruined your business – but now – an invaluable learning experienceKenny's presentation wasn't working on his Fortune 200 company's computer -- and Kenny tells the whole story here.
Most critical skill you think business owners need to master to be successful"Learn how to focus."
Most influential lesson learned from a mentor"Be transparent with your crew."
Final Round – “Breaking Down the Recipe for Success” What systems would you go back and put into place sooner?I would have had a more formal hiring and onboarding process.
What one strategy or “recipe” would compound into big wins for business owners?Ask yourself "why?" five times.
How to exceed expectations and add the most value?An individual would speak up -- I hire people to tell me what they think.
What strategy would you recommend new business owners focus on to best ensure success?You can also find us here: ----- OnwardNation.com -----
Stephen is the CEO of Predictive ROI and the host of the Onward Nation podcast. He is the author of two bestselling books, speaker, trainer, and his digital marketing insights have been featured in SUCCESS, Entrepreneur, The Washington Post, Forbes, Inc. Magazine, and other media.
Good Morning, Onward Nation -- Stephen Woessner here.
Before we dive in -- and if you’re listening to Onward Nation for the first time -- I will give a very brief personal intro to provide some context behind the voice.
Hi -- I’m Stephen Woessner. I am the host of Onward Nation – but – when I am not interviewing today’s top business owners, I am the CEO of Predictive ROI -- a digital marketing agency -- and I don’t particularly like that label because Predictive does so much more than digital marketing. Yes, we do the traditional things like increasing site traffic, leads, and sales. But what makes us truly unique -- is our ability to predict a client’s increase in sales -- their actual financial return on investment in the form of dollars and cents -- and then guarantee that performance -- or our work is free. And because of that -- we find ourselves deep inside a client’s systems, inventory, sales team, and all sorts of business development processes.
I love the problem solving work we do -- it oftentimes reminds me of my days of troubleshooting when I was a missile technician working inside nuclear missiles silos on the prairies of South Dakota while I was in the Air Force many years ago. I have been in digital marketing since the advent of the commercial Internet. I am the best selling author of two books in the area, I spent nearly 6 years at the University of Wisconsin – at the La Crosse campus, and I taught throughout the state include the UW-Madison School of Business, and my business building insights have been featured in Inc. Magazine, Entrepreneur, Forbes, SUCCESS, The Washington Post and some other media. And I am currently working on my third book.
Okay, let’s press on to solving big challenges in our business – big obstacles – those things that are really holding you back from jumping off the plateau you may be on right now – and leaping onward to that next level.
That’s what we are going to focus on during this episode.
First, we all know that building and scaling a business is hard work. But when you have the right strategy – that right “recipe for success” to follow – the action steps become more like “ingredients” and can be added systematically into your business – one ingredient at a time.
And every day at Onward Nation, I have the incredible opportunity to interview today’s top business owners and ask them to share their specific recipes for success – and to break those strategies down into tactical step-by-step processes and systems.
I distilled all of those ideas, strategies, steps down into actionable “recipes” you can take and apply into your business right away.
If you are not familiar with my recipe and ingredient thought process -- you may be thinking you just walked into a baking podcast by mistake. Close -- but not quite.
Let me explain the recipe metaphor this way.
Say I make the world’s best chocolate cake. And I grew up working in my mom’s bakery – so my chocolate cake is actually pretty good.
And say you come up to me and say, hey Stephen -- I cannot bake anything, in fact, boiling what is hard for me -- but -- I love your chocolate cake. Could you teach me how to bake your cake so that it turns out just like yours?
How could that even be possible?
I’ve been perfecting my chocolate cake for the last 30 years -- and you have zero baking skills.
How could you possibly think that you could duplicate my results?
To even have a shot at it – is there something I could give you – some edge – some insider’s knowledge?
Of course -- I need to give you my recipe.
The recipe will act as your “strategy” behind the cake. Right?
With the recipe -- you can see the entire process -- the flow -- the visualization of the goal -- how you need to setup the environment, i.e. your kitchen -- all the steps -- all the tools you will need.
But the recipe is just one piece -- what else do you need?
Right! The ingredients.
You need to know the specific amounts and specific qualities of the ingredients, right?
And then there is one more thing -- you have the recipe -- you have the ingredients -- but -- you must also follow the syntax.
And syntax is a fancy word that simply means the order of the process.
So think about a recipe you have followed in the past -- we have all done this -- we mix the eggs together with the flour before we put in the oil and now we have goo. Not awesome.
So the syntax -- or the order in which we execute the strategy really matters.
So I’m going to share some incredible business building recipes with you -- but I’m going to share the ingredients -- and I’m going to give you the syntax or the process for all the steps.
Hopefully that makes sense.
And as Jim Rohn said,
“You are the average of the five people you spend the most time with.”
Now, maybe you are hearing Jim’s pearls of wisdom in this quote for the first time. I was having lunch with some friends the other day and I shared that quote and I could tell they were a bit shocked by it – so I took another minute to explain.
I shared several scenarios to illustrate the powerful lesson Jim taught us in that quote -- and I will share the same with you.
Say you’re walking down a hallway with your one of your top clients -- and your client has a faster pace than you.
What do you do?
Do you walk your normal pace or do you speed up?
Does your client slow down? Likely not.
Our natural instinct is to speed up – to keep pace.
So let’s consider a different scenario.
Let’s say this time you are walking with a group of four other people through the mall and they are all walking slow -- like dreadfully slow -- painfully slow.
What do you do?
You may start to think of some creative ways to speed them up -- but they don’t speed up -- in fact -- they may even slow down further -- but how is this possible?
And if you try to speed up -- you simply get out in front of them and create stress for yourself and for the group.
Here’s the reality: you will not de-stress until you are free from the slow group and find a group that wants to move at your same – faster speed – or potentially even faster than you so you are challenged to grow and speed up to keep up.
Because if you don’t -- eventually you will slow your pace to conform to the group – because you don’t want to be rude -- so you slow down.
This episode will move at a pace and tempo that is uncommon -- we are going to move at the pace of today’s top business owners.
And if you listen to Onward Nation on a consistent basis – today’s top business owners are the people you are spending time with – and that is awesome.
So here is the first lesson I want to share with you -- if you want to move your business onward to that next level -- then you need to spend time with business owners and mentors who are ALREADY at that next level – AND — they move at a pace and tempo faster than you.
And when you join that group – or have that person as your mentor – you will grow.
Hope that makes sense – and I have prepared a very detailed recipe on mentorship for you during today’s discussion.
More on that in a few minutes.
So make it a commitment – to find other business owners who are already at that next level – and spend time with them – learn from them – and you will naturally speed up to keep pace and as a result you will be moving toward the next level yourself.
So here’s what I am going to cover during today’s episode – let’s call it an agenda of sorts – as Kim Garst said to me during our interview – “you gotta have a checklist, Stephen.”
So let’s dive in.
What if I told you that the two biggest challenges preventing you from moving your business onward to the next level have nothing to do with the business climate, the economy, the skill level of your employees, the location of your business, your pricing strategy, your current customer base, the size of your marketing budget, the quality of your products, your distribution channels, or the myriad of other reasons we are given today by the media and government as to why businesses fail at such a staggering rate in this country.
What if the obstacles in your way had nothing to do with any of that?
And in instead, what was blocking you -- the obstacles keeping your business in check -- are the same obstacles that have always attempted to keep you in check throughout your entire life.
Your enemy is not the myriad of reasons I just listed off -- instead -- your first challenge -- or better yet -- your first enemy is the Fear of Poverty.
Many of you have read – but possibly not in a while – this incredible book, "Think and Grow Rich" published in 1937 by Napoleon Hill.
If you have listened to Onward Nation episodes – and my guess is you have or you would not be here this evening – our guests often reference "Think & Grow Rich" because it is a compendium of knowledge.
The book was made possible by Andrew Carnegie.
Carnegie at the time was the wealthiest man in the world, met Napoleon Hill, liked him and offered to commission him to open the doors to the greatest industrialists of the time.
That was 1908.
And he said, “I’ll open the doors if you’ll sit down with these top business owners and figure out their secrets to success. What they do, they’re methods, they’re mindsets that have caused their extraordinary success and you put it into a book and publish it and make it available to the world.”
So, Napoleon sat down with Henry Ford, Edison, Schwab, Wrigley, and both Rockefellers. Imagine being able to spend time with those business owners and pull out their best ideas for success and achievement.
If you have read, studied, and applied the book -- you understand the great knowledge in this book and are already ahead of 98% of your competition.
But often times -- this book is an easy to forget treasure because it was written in 1937 – but the strategies in this book are still just as applicable today.
If you have not yet read, studied, and applied the book – then consider this a million dollar resource you have just been given. You can go to OnwardNation.com/book and get the Audible version of "Think and Grow Rich" for free -- that’s OnwardNation.com/book.
The Fear of Poverty is one of the 6 basic fears but it is also the most pervasive, destructive, and confusing to understand. But why?
On the surface, it seems as though this fear would revolve around the fear of becoming poor – and there definitely is that component.
But, the way this particular fear manifests itself is what makes it easy to spot.
We become so fearful of poverty -- that we freeze and are plagued with indecision, indifference, doubt, worry, over-caution, and procrastination.
Just when you ought to take action -- you don’t.
When sales are declining -- you ought to make more sales calls -- but you don’t -- you freeze because the fear of poverty has you paralyzed.
Just when you should be investing in that new expansion – that new marketing strategy – that new development – hiring new employees – you don’t.
You become overly cautious. Or -- you disguise your caution by saying you’re “skeptical”. And by the way — that is code for “I am afraid.”
You become so fearful of hitting the wall – that all you do is focus on the wall.
And then what happens?
Exactly -- you end up hitting the wall.
To be clear -- I am not suggesting that you throw caution to the wind and become financially irresponsible and then lose your business as a result of mismanagement.
That would be silly.
But I am trying to bring into focus that our Fear of Poverty can be one of the major obstacles that hold us back from the abundance at that next level.
And it doesn’t matter who you are – we have all felt it before – especially when trying to pursue something new – that next level.
Remember, if you focus on the wall -- you will hit the wall.
But if you focus on the infield – you may still eventually hit the wall -- but your opportunity likely increases by a factor of 10 IF you steer your business where you want it to go instead of letting yourself and your business become paralyzed by indecision, indifference, doubt, worry, over-caution, and procrastination.
So if the Fear of Poverty is the first challenge – what is the second one keeping you from moving your business forward?
It is the Fear of Criticism and is also one of the 6 basic fears -- and it too is easy to spot.
This fear what prevents you from making that sales call to that prospective client everyone in town wants because you hear that voice inside your head that says,
“Oh come on -- who do you think you’re kidding calling them? You have nothing to offer. They only work with big companies. You’re too small.”
You hear -- “You’re not good enough -- you don’t have the skills, you will never make it -- why bother trying -- there are others who are more gifted, talented, they already have all the connections -- what could you possibly offer that would be unique and different -- just try something that is more at your current level – call on someone smaller – don’t call the president or owner – call someone who reports to them – that would be easier.”
“Why can’t you just be normal?”
The fear of criticism can be overcome with grit -- with tenacity -- with perseverance -- with the shouting into the abyss -- I will not be defeated.
You saying -- "I will WIN THE DAY".
And when you do that – and I believe when you’re moving in the direction of God’s plan for your life – there is nothing that can stop you.
Now that we have identified the 2 biggest obstacles holding you back – which really aren’t obstacles at all are they – they all are in your mind – now let’s work through our first of several recipes during this solocast.
Recipe #1 focuses on mentorship.
If you have listened to our Onward Nation episodes, you already know that I ask every single guest to share the most influential lesson they ever learned from one of their mentors that helped them become the business owner they are today.
And wow -- our guests have shared some outstanding lessons.
So for this solocast, I am going to share a very specific recipe for attracting and finding the right mentor because Onward Nation listeners have asked me exactly that – as well as to help them understand what would be expected of them as a mentee?
But first – let’s make this more specific. Why find a mentor?
And yes, there is a specific recipe you can use to find a mentor and I am going to share that with you.
Before I share the step-by-step ingredients to this powerful recipe -- I will share something I have not shared during Onward Nation episodes -- two of the most influential lessons I ever learned from one of my mentors -- Darren Hardy, former publisher of SUCCESS Magazine.
For 12-months, Darren was a member of our board of advisors at Predictive ROI. So we would get together either in-person or over the phone. And during one of our monthly calls, I explained to Darren some of my reservations about building a big business. I wasn’t sure how big I wanted Predictive ROI to become. And so I was nervous about it.
And I said, “Gosh, Darren – you know – I’ve never thought of myself as being a great manager of people. And quite frankly, honestly Darren, I kind of suck at it.”
And then Darren said to me, “Stephen -- stop SUCKING at it!”
And I said, “What do you mean?”
And he said -- "Don’t give me that lie or tell me that myth that you are telling yourself. Don’t use that as a fricken excuse to stop moving forward. Stop telling yourself that limiting belief and that lie that you’re not a good manager or leader. Be better at it. Don’t give me the excuse."
And so I’m standing there almost like fricken naked – totally stripped down – I was like, holy crap, he totally called me on it.
That’s embarrassing – because he was right!
And that’s what a good mentor does for you – they call you out when you need to be called out – they support you when you need to be supported and they teach you when you need to be taught. But they don’t do the hard work for you – that’s on you.
So here are the specific ingredients for finding the right mentor for you:
Remember -- a good mentee takes action on what is learned — and the responsibility is on you.
Let’s go deeper by taking a look at three of our Onward Nation guests and how they are crushing it with mentorship.
First, Don Yaeger – episode 2 of Onward Nation.
What is the difference between Don Yaeger and another professional speaker you could hire for an event?
Don has mentored with the greatest champions of our time – including Coach John Wooden for over 12 years -- and Don distilled all of this knowledge into what he calls the 16 Characteristics of Greatness. Now, it would be easy to say – “Well sure, Stephen, Don can do that because he has all of the connections.” And true – Don can get anyone in the world of sports to take his call.
In fact, I was staying with Don and his family for a week in Tallahassee and one morning, Don’s cell phone rang and Don said to me “It’s Bob Kraft” -- and I said, “Wait, what? You mean like Bob Kraft who owns the New England Patriots?”
But don’t forget, Onward Nation -- even Don Yaeger had to start somewhere. So will you sit around and be fearful for another year – or – will you start getting mentored and move your business onward?
Next, Stacey Alcorn -- episode 3 of Onward Nation.
What is the difference between Stacey Alcorn and another real estate professional?
Stacey has mentored with some of the best and brightest minds in business and connected those relationships back into building her real estate empire. I will later share with you a billion dollar recipe right out of Stacey’s cookbook -- and I know we have several real estate professionals on the workshop right now -- Stacey’s firm had 324 closings in June. Bam!
And lastly, Nancy Marshall – episode 19 of Onward Nation.
What is the difference between Nancy Marshall and another marketing or PR professional you could hire?
Nancy realizes that she may be located in the state of Maine – but the market for Nancy Marshall Communications is worldwide -- which is why she has invested the blood, sweat, and tears it takes to write a book, develop a trademarked process in her agency called The Marshall Plan, and to invest in building a network through mentoring with the right people – and giving back – and now her network helps her company grow in the good times and become a safety net in the downturns – because the storm clouds will come no matter who you are or what kind of business you run.
Here’s the reality -- you are the average of who you spend the most time with. So you need to spend your time with people you have a common future with – not a common past.
Let me close out this first recipe by saying -- you can want to find a mentor – the recipe that I just shared with you could be worth millions of dollars in new sales to your company – but – it won’t be worth anything unless you DECIDE to take action.
As Tony Robbins says, a real decision is measured by the fact that you’ve taken action – in fact – that you have taken massive action. And if there’s no action – then that is simply an indicator you haven’t really decided anything.
Now that we have conquered and overcome the two main challenges standing in your way – and now that I have shared with you a very specific recipe with all of the step-by-step ingredients (in the proper syntax) so you can find your right mentor or mentors -- it is now time to really accelerate your results and move your business onward to the next level.
The next recipe I am going to share with you could represent a billion – yes, with a “B” – billion dollar strategy for your business.
I am going to share a recipe for mastering a specific system that will dramatically expand your network and sphere of influence – and – I will also share with you how you can then monetize these valuable relationships into mutually beneficial partnerships and revenue for your business.
And yes, I know it may sound crass or inappropriate when I say monetize relationships – unfortunately, I can’t think of a better word – I think you get what I am driving at.
But before we get to the recipe -- let me put typical “networking” into context.
Most business owners go to an event with a large number of “prospects”.
They pass out business cards.
They chit-chat small talk with the same people they met their last month.
The collect others business cards.
More chit-chat small talk.
They might even schedule some lunch meetings.
Why do we do this? Here’s why.
Because this is safe – it is easy – it does not make us face our fear of poverty or our fear of criticism. What would people think if I did that -- or went here -- or spent time with so and so -- they will all think I am too big for my britches.
I am going to work hard here to shift your paradigm of what is possible.
And that is why I love this quote from Archimedes. “Give me a prop strong enough, and a level long enough, and I can single-handedly move the world”
This next recipe I am about to share with you will become your lever and prop.
And it is big – this is literally a billion dollar recipe – and I am going to introduce you to the top business owner who is using it generate a billion dollars.
She describes herself as a billionaire in the making. And I believe her.
Let me introduce you again to Stacey Alcorn. Her episode is still on our leaderboard of top podcasts.
During our interview, Stacey told me about the afternoon she had spent the week before with Kevin O’Leary, Mr. Wonderful from ABC’s Shark Tank – they spent the afternoon tasting wine and exchanging business mantras and best lessons. Stacey and Kevin had quite the masterminding session.
There is always a strategy behind what Stacey does – and if you go back and re-listen to episode 3, Stacey maps out her entire business building strategy with precision.
But we are going to focus on the billion-dollar recipe that Stacey has developed.
Most people will not swing for the fences – but Stacey does. So here are the specific ingredients in Stacey’s recipe.
Key point: if you interview the movers and shakers in your industry – they become your informal mentors -- and you become one of the movers and shakers in the industry as a result.
If you want a BIGGER – more ROBUST – more INFLUENTIAL network – then YOU must become bigger -- your platform must become more robust -- and you must become more influential.
Warning — ROAD BLOCKS!!
Now, some of you listening to this recipe right now may be thinking – “Oh sure, Stephen -- Stacey has an email list of 65,000 people and has interviewed all of these celebrities and big-time business people – I don’t have those connections.”
Or, maybe you’re thinking -- “My business just started -- I don’t have mindshare in the marketplace, I’m not a published author, I don’t have a platform, no one knows who I am, who will listen to me – what do I have or could I share that would be relevant for anyone to listen to, I don’t have a network – I wouldn’t even know how to start.”
All of those excuses – all of those alibis – those are the Fear of Poverty and the Fear of Criticism working against you again.
If you hear those voices in your head – if you are having thoughts that are even remotely similar to what I just mentioned – let that be your litmus test – you now know you are heading in the right direction.
Push forward – don’t stop – don’t let your fear hold you back from breaking through to that next level.
Remember, you are the average of the people you spend the most time with -- and look who Stacey is spending the most time with.
She refers to herself as “A billionaire in the making.” And in order for that vision for her life to become a reality – she knows that she needs to spend as much time as possible with other billionaires.
Well, I will let you in on a secret she told me during our interview – Stacey didn’t have those connections several years ago.
But she DECIDED that was going to change and then she took action to make it happen. I hope that makes sense.
Okay, Onward Nation – I hope this solocast was valuable to you. Please drop me a line and let me know what you thought.
Thumbs up or thumbs down? Please drop me a line and let me know.
Onward with gusto!
You can also find us here: ----- OnwardNation.com -----
Amir Haque is founder and CEO of SUPERMOON, the independent Santa Monica ad agency awarded Ad Age 2014 small agency of the year for its size. A business strategist by trade, Amir has an MBA from Yale and spent time at the Boston Consulting Group in Toronto before starting his agency 14 years ago. His agency was instrumental in the foundational and explosive growth of many LA-based national brands including eHarmony, LegalZoom, and TrueCar. Amir brings an irrational passion for solving business problems that positively impact society and the world.
Secret – timesaving techniqueAmir writes down all his creative ideas in Evernote -- make sure you don't forget your ideas. ONWARD!
Daily habit that contributes to successSuccess for Amir is feeling a sense of richness -- Amir starts every day by playing with his son -- even if it's just for 10 or 15 minutes.
Could have ruined your business – but now – an invaluable learning experienceAmir's relationship with his business partner crumbled -- and Amir tells the whole story here.
Most critical skill you think business owners need to master to be successful"Be able to adapt while focusing and staying the course."
Most influential lesson learned from a mentor"Be calm and listen to your intuition."
Final Round – “Breaking Down the Recipe for Success” What systems would you go back and put into place sooner?I would have hired slow and fired fast.
What one strategy or “recipe” would compound into big wins for business owners?Have a strategy that allows for experimentation.
What strategy would you recommend new business owners focus on to best ensure success?You can also find us here: ----- OnwardNation.com -----
Christine is the president of Idea Agency located near Boston. She is driven to unleash her clients’ greatness to build amazing brands. As the only Certified Brand Strategist in New England, Christine is uniquely qualified to help her clients put their stake in the ground for their teams and customers to rally behind. Christine is an expert workshop facilitator and a sought-after speaker on brand development, integrated marketing, and ideation.
What do you do in the first 60 minutes of your day?On her best day, Christine gets up and goes for a run, showers, eats a good breakfast, checks her email at home -- try to do the things in the morning that set you up for your best day. ONWARD!
Favorite quote or lesson?"Believe in what you do."
How do you define success?Big picture success is creating and running a business where I get to help people solve their problems -- and Christine shares more kinds of success in this episode.
What strategy do you use to combat fear?Christine reads writing from Seth Godin -- and Christine tells the reasons why here.
What makes as "A player" an "A player"?An "A player" is passionate.
Final Round – “Breaking Down the Recipe for Success” How can we become better mentors?You can also find us here: ----- OnwardNation.com -----
Matt McCoy is the co-founder and COO of Scanalytics Inc., a software company focused on presence detection and customer engagement. Scanalytics proprietary offering is the SoleSensor, an intelligent floor sensor, which anonymously measures real-world foot traffic. Matt is an entrepreneur, Internet of things (IoT) expert, experienced research consultant, and public speaker. Matt has worked closely with Fortune 500 brands to deliver consumer insights through big data. His enthusiasm for technology and the art of storytelling has helped drive Scanalytics success as a top-ranked IoT company.
Secret – timesaving techniqueMatt takes the time to have conversations -- talk to people to get the information you need right away. ONWARD!
Daily habit that contributes to successCheck in with clients every day -- Matt keeps over 80% of his clients by doing this.
Could have ruined your business – but now – an invaluable learning experienceMatt had to say no to an opportunity that could have grown his business immensely -- and Matt tells the whole story here.
Most critical skill you think business owners need to master to be successful"Go back to the basics of communicating with other people."
Most influential lesson learned from a mentor"Don't worry about the things you can't change."
Final Round – “Breaking Down the Recipe for Success” What systems would you go back and put into place sooner?I would have taken more notes and documented more.
What one strategy or “recipe” would compound into big wins for business owners?Underpromise and overdeliver.
What strategy would you recommend new business owners focus on to best ensure success?You can also find us here: ----- OnwardNation.com -----
Heather Ann Havenwood is a serial entrepreneur and regarded as a top authority on Internet marketing and business strategies. Heather Ann has been named by a few as an “Icon Creator” or the “Wizard Behind the Curtain”. In 2006, she started, developed, and grew an online information marketing publishing company from zero to over $1 million in sales in less than 12 months. Starting without a list, a product, a name or an offer, Heather Ann molded her client into a successful guru now known as an expert in his field. She has instructed, coached and promoted hundreds of entrepreneurs leading them down the path to success. She has produced and managed over 350 seminars and events.
Secret – timesaving techniqueHeather Ann "eats the frog" -- figure out quickly what the priorities are. ONWARD!
Daily habit that contributes to successBe really structured with your time -- Heather Ann lives on her calendar.
Could have ruined your business – but now – an invaluable learning experienceHeather Ann's business partner emptied their bank account -- and Heather Ann tells the whole story here.
Most critical skill you think business owners need to master to be successful"Mindset. Mindset, mindset, mindset."
Most influential lesson learned from a mentor"Does this feed my confusion or strengthen my clarity?"
Final Round – “Breaking Down the Recipe for Success”What systems would you go back and put into place sooner?
I would have had an email marketing system and been consistent with it.
What strategy would you recommend new business owners focus on to best ensure success?You can also find us here: ----- OnwardNation.com -----
Stephen is the CEO of Predictive ROI and the host of the Onward Nation podcast. He is the author of two bestselling books, speaker, trainer, and his digital marketing insights have been featured in SUCCESS, Entrepreneur, The Washington Post, Forbes, Inc. Magazine, and other media.
Good Morning Onward Nation -- and I hope you are having a rock solid awesome, Wednesday. And that your week has been a blend of some amazing wins...some exciting surprises...even some difficult challenges so that you can be pushed to dig deeper. Because sometimes it is the challenges that force us to leap off our current plateau -- and then to reach onward to that next level. Like Scott McKain shared in our encore interview -- episode 136 -- you need to realize that in order to get to that next level in your business -- the next rung up -- you have to be willing to let go of the rung you are currently on. Otherwise -- you’re stuck!
Oddly, Onward Nation...some of my best weeks are the weeks where we experience a loss or two. Hopefully nothing devastating -- but a loss can oftentimes wake us up -- knock us out of a trance. Or help move us off our infatuation with a recent success -- or -- the danger or arrogance of our own ego if we fall into the trap of believing our own headlines and forgetting how attractive humility is and how polarizing arrogance is.
So sometimes a loss or a challenging moment in our past can be the perfect instrument to lead us to greater levels of success. And attempting to define that word -- SUCCESS -- will be my focus in today’s solocast. It is a deeply personal word -- a deeply personal definition -- unique to each of us. But sometimes, having models or mentors share their definition of success can help us look inside ourselves to reflect and think about how we would define it. Defining success for yourself should not feel like something you should be pressured to do. What would be the point in that? Instead...crafting your own definition will help you define the path you are on -- what is right for you -- and how you can become the best version of yourself.
So to get this lesson moving in the right direction...I am going to share with you a definition of success Amy Anderson was kind enough to pass on to me. It is her personal definition -- and -- something she shared with me during our recent encore interview. (Amy was also my guest on episode 27).
But, you won’t be able to listen to the interview just yet because Amy was my special encore guest for episode 200, which doesn’t air for a couple more weeks.
True to Amy Anderson form -- she was -- again -- off-the-charts amazing. Can’t wait to share episode 200 with you -- but for now -- here is how Amy defines success.
Success at the core for Amy is Freedom. And freedom feels like being free enough from fear to act on her own intuition.
Freedom feels like being free from the prison from her own perspective that used to tell Amy that she was nothing but a victim and that the world was her enemy.
Freedom is also being financially free to travel, to spend time with her loved ones, and having the ability to secure the future for her family.
Freedom for Amy also means being able to give time and resources to charitable groups she cares about and the causes she believes in.
Freedom for Amy also means being able to speak what is in her heart and in her mind to others. The freedom to love herself as her creator loves her.
In a word, Onward Nation, success for Amy Anderson is freedom.
When she shared this deeply personal and beautiful definition of success with me...I was really taken back. A bit breathless actually. In fact, when you listen to the episode in a couple of weeks you might even hear me gasp a bit. But that is why I love conversations with Amy -- that is the depth of discovery you need to be prepared to have -- because she doesn’t hold back -- and she freely shares it. One of the many reasons I am such an Amy Anderson fan.
I think one of the reasons why Amy’s definition of success was so impactful for me -- or on me -- is because I share her definition. Line by line. In unison. Loved every word and every syllable she shared. But it wasn’t always that way for me. There was a time and place early in my career where my definition of success looked nothing like what Amy was generous enough to share with us.
As you know, Onward Nation, I rarely tell personal stories during our episodes -- but today I will because it directly relates to the definition of success -- and oddly -- it is a story of epic failure. And it is because of that epic failure -- my perspective has changed. Even though the story I am about to share with you happened back in 1999 to 2001, the first time I ever shared the story during an interview was with John Lee Dumas during episode 648 for his EOFire podcast. EOFire is a brilliant podcast -- highly recommend it.
What I am about to share with you is a time when I failed so huge that my wife and I could have lost it all. To say we were all in is a major understatement.
We were left with nearly zero. But we fought our way back -- and through that struggle I learned a lot about myself -- I grew -- I changed -- and was prepared to lead the business I am leading today. But it took me eight long years to recover, Onward Nation, before I could even discuss what happened. I was that devastated by it.
So, let’ go back...to the summer of 1999. It was the height of the dot com bubble. But I didn’t realize it was the height and the tide would soon be turning. I was 28 years old -- a young man in a hurry. I was a partner in a small advertising agency in La Crosse, Wisconsin -- my wife and I had bought our first house five years earlier, we had saved our money, and I had the urge to do more -- to accomplish more -- to earn more.
I was frustrated reading the headlines of dot com company after dot com company receiving millions of dollars in venture capital on the east coast and west coast while I was working day to day in a small midwestern city out of the action.
Silly -- but that was the message my ego drove home to me every day. I felt like I was missing out.
Until finally, I had had enough and joined forces with two partners and we began the long process of building FortifiedNutrition.com.
And on a shoestring budget -- we actually did it -- and it was miraculous. The website worked and it worked well. So well, that we attracted the attention of Wells Fargo in town and I convinced them to provide us with a $100,000 line of credit. Yes, I said $100,000. Based on some very loose financial pro formas and my personal guarantee. Insane.
And then we attracted the attention of two private investors who invested $60,000 contingent upon us finalizing our spokesperson endorsement deal we were negotiating with Lou Ferrigno. Yes, Lou Ferrigno -- the Incredible Hulk. During my first phone call with Lou...I’m not sure that I heard a word he said because I kept saying to myself over and over again, “Oh my word...oh my word...I’m on the phone with the Incredible Hulk! The INCREDIBLE HULK.”
An amazing man, by the way, Onward Nation. I thoroughly enjoyed every meeting and interaction I had with Lou and his wife, Carla. Top notch people of integrity and professionalism.
So while we are working out the deal points with investors and Lou -- we then attracted the attention of a digital marketing agency in San Francisco who agreed to perform all of our design work in exchange for 7.5% of our common stock.
I couldn’t say yes fast enough.
I was on cloud nine...it was all coming together, Onward Nation.
Are you kidding me? An agency in San Francisco, two investors, a line of credit, and Lou Ferrigno.
Just when I couldn’t imagine it getting any better -- we met with our attorney at Ernst & Young’s office in Akron, Ohio to discuss our plans for an initial public offering. Yes, an IPO. Again, insane.
But wait -- trust me -- it gets even more ridiculous.
We all sat around a very large conference room table and looked at what had to seem like the most baseless valuation ever put on paper.
Why do I think that?
Because I created it the night before and had zero experience in doing anything remotely similar. Our attorneys and Ernst & Young team looked at the valuation I had prepared, and said, yep -- looks good to us. I’m sorry -- what?
And now -- now, Onward Nation -- my partners, investors, and I were the proud owners of a $10 million company. I was worth nearly $3 million at 28 years old. I couldn’t wait to show my wife my stock certificate.
She calmly looked at the certificate and said, “Ahem, can we take this piece of paper and go buy a new house?” I said, “Well, no, but…” And she followed that up quickly by asking, “Could we take this certificate and go buy a new car?” I said, “Well, no, but you see…” And she again followed that up quickly by asking, “Could we take this certificate and go buy some groceries?” And I said, “Well, no” and now squarely getting her point. And then Christine said to me, “Yeah, so, come back and see me when this is actually worth something.”
And wow...she was so right. The truth is...I was worth $3 million on paper but chasing my dream of success had meant that we were living on her income -- and that was it. I had not taken a grand total of $1,200 out of FortifiedNutrition.com over the course of 18 months, Onward Nation.
Why? Because at the time of my master valuation presentation...we had not sold one customer -- made 1 sale -- had any revenue -- I mean literally nothing.
We were still four weeks away from even going live and our valuation was $10 million. Brilliant.
So let’s fast forward to March 2000.
I was in San Francisco trying to present Fortified to more investors.
Except the market had started to tighten and tighten. What was that you said? A bubble bursting? Ha...that couldn’t happen!
Well, we all know it did and I happened to be in San Francisco, on the ground floor if you will, when it did as I shared with John Lee Dumas during our interview.
The NASDAQ started its slide and I went from trying to sell 20 percent of my company for $7 million to as much as you want for as little as you will give me. It became the FortifiedNutrition.com fire sale.
The $10 million valuation of our company evaporated just as quickly as it has risen. I immediately lost the value of the stock -- no big deal -- that was just paper.
But what really hurt, was that my wife and I lost all of our savings in trying to save the business. We invested nearly every penny of the equity in our home. I nearly had to sell my car just to keep our heads above water.
All totaled...I lost $100,000 of my own money, Onward Nation. Real cash -- that was literally sucked right out of my pocket and gone. Our life’s work up to that point -- destroyed. I felt like a complete failure -- my definition of success, which had been solely financial up to that point had been shattered.
Christine and I went to work and picked up the pieces. I found another advertising and marketing job in town...got my butt back to school to finish my bachelor’s degree and went on to get my masters...scored some good wins in business...began saving some money...started investing again...started a couple of side-preneur ventures...did well...then accepted a full-time academic staff position at the University of Wisconsin at the La Crosse campus...started teaching digital marketing classes to business owners throughout the Wisconsin system...and wrote a couple of books. So that over 12 year period -- I built up enough experience, an influential network, and enough courage to launch Predictive ROI, the company I have run with my team for the past 7 years.
I now have a completely different view of success.
Do I still have financial goals? Yes. Are they big? Yes, they are huge!
But the purpose behind the goals is completely different.
I now subscribe to Andrew Carnegie’s philosophy to building wealth. He said...you should spend the first half of your life making a fortune so you can spend the second half of your life giving it all away.
I like that -- a lot.
Again -- I am now so aligned with Amy Anderson’s definition of success that I shared with you a few minutes ago. For me...and maybe for you, too...success feels like freedom. The freedom to choose what feels right for you. To do what you want to do...not what you feel pressured to do. To be the person -- the whole person -- you were created to be.
You are more powerful, more amazing, more gifted, more talented than you could ever possibly imagine, Onward Nation. You are a child of the Most High God and you were intended to live a life of freedom.
So no matter how you define success -- my hope for you today is that you will take a moment -- to find a quiet spot -- to think -- to write down your definition. Don’t compare it to anyone else’s -- it is uniquely yours. But writing it down is a powerful process -- and I hope that doing so unlocks freedom for you.
So with that...I want to thank you again for taking the time to be here with me today. It is an honor to have you here -- thank you for tuning in -- I am delighted you chose this episode to be what you listen to, study, and take with you on your morning run, or maybe Onward Nation has become part of your daily commute, or in some other way has become part of your morning routine.
However our daily podcast fits into your daily routine -- I want you to know how much I appreciate you sharing some of your invaluable 86,400 seconds you have in your day with me and the strategies we learn and share each day from today’s top business owners.
And please continue to let me know what you think of Onward Nation...good or bad...I always want your feedback. My direct email address is [email protected] -- and yes -- that is my actual Inbox. No fancy filters or filing system and I read and reply to every single email.
So please let me know how you think we are doing. I look forward to hearing from you.
We will be back tomorrow with an incredible interview with Heather Ann Havenwood -- and she shares an inspirational story of how she got back to building again after overcoming several very significant challenges in her way. You will not want to miss this discussion, Onward Nation!
Until then, onward with gusto!
You can also find us here: ----- OnwardNation.com -----
Peter Strohkorb is an international speaker, sought after consultant and the CEO at Peter Strohkorb Consulting International. He has 20 years of hands-on Sales & Marketing experience in executive sales and marketing positions for some of the largest corporations on the planet, such as SONY, 3M, and Canon. Peter is the creator of the OneTEAM Method, author of a book of the same name, and a guest lecturer in the Executive MBA program of the Sydney Business School.
Secret – timesaving techniquePeter writes out his daily task list -- carve out the time each day to complete your tasks. ONWARD!
Daily habit that contributes to successBe disciplined about not getting to excited by the new -- Peter stays focused on the tasks he has to complete before jumping to the next thing.
Could have ruined your business – but now – an invaluable learning experiencePeter faced a market that refused to accept they had a problem -- and Peter tells the whole story here.
Most critical skill you think business owners need to master to be successful"It's so important to get out of your office and actually talk to your prospects, customers, and peers."
Most influential lesson learned from a mentor"Be entrepreneurial, but in a disciplined way."
Final Round – “Breaking Down the Recipe for Success” What systems would you go back and put into place sooner?I would have had an advisory board.
What one strategy or “recipe” would compound into big wins for business owners?Do not look at your people as people in specific departments.
How to exceed expectations and add the most value?An individual would use their ears and mouth proportionally -- you have two ears and one mouth.
What strategy would you recommend new business owners focus on to best ensure success?You can also find us here: ----- OnwardNation.com ------
Billee Howard is the Founder & CEO of Brandthropologie, an artist collective that helps place brands at the epicenter of culture and commerce. Billee is also the author of “We-Commerce” a book designed to help companies and leaders embrace the principles of the collaborative economy in ways that improve their bottom line.
Secret – timesaving techniqueBillee pushes herself to a place of discomfort -- innovation is discipline. ONWARD!
Daily habit that contributes to successUnderstand the context of the environment of who you're talking to -- Billee strives to not be overly insular.
Could have ruined your business – but now – an invaluable learning experienceBillee was forced to leave her industry -- and Billee tells the whole story here.
Most critical skill you think business owners need to master to be successful"Creativity needs to be a centrality of business -- and view storytelling as a business competency."
Most influential lesson learned from a mentor"Reward somebody who deserves to be rewarded before they ask for it."
Final Round – “Breaking Down the Recipe for Success”What systems would you go back and put into place sooner?
I would take the time to deconstruct what went right and what went wrong.
What one strategy or “recipe” would compound into big wins for business owners?Successful business today should be able to embrace ideas no matter where they come from.
How to exceed expectations and add the most value?An individual would push themselves every day.
What strategy would you recommend new business owners focus on to best ensure success?You can also find us here: ----- OnwardNation.com -----
Dr. George Browne is the owner, allergist, and immunologist of Bless You Allergy & Asthma. His practices focus on caring for patients in the areas of environmental allergies, food allergies, asthma, eczema, contact dermatitis, stinging insects, and immunological defects. Dr. Browne opened his practice two years ago after being in academic medicine so he could do it his own way.
Secret – timesaving techniqueGeorge writes out his daily and weekly schedules every night -- stay on point for your week and your day. ONWARD!
Daily habit that contributes to successPrepare your mind, body, and soul for the day ahead -- George gets up every morning and prays and works out for 30 minutes each.
Could have ruined your business – but now – an invaluable learning experienceGeorge almost gave up on medicine because he was overwhelmed -- and George tells the whole story here.
Most critical skill you think business owners need to master to be successful"You have to be able to cut out the noise -- and carve out the time to continuously learn."
Most influential lesson learned from a mentor"Talk to people like they're the only person that matters in that moment."
Final Round – “Breaking Down the Recipe for Success” What systems would you go back and put into place sooner?I would have learned my electronic medical records system better.
What one strategy or “recipe” would compound into big wins for business owners?Take care of your clients first.
How to exceed expectations and add the most value?An individual would be honest -- honesty goes so far.
What strategy would you recommend new business owners focus on to best ensure success?You can also find us here: ----- OnwardNation.com -----
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