Entrepreneurial journey. Enlightenment journal. Or similar. And cars.
Wednesday, July 09, 2014
Roger Bryan Interview - 6 Wise Lessons From A Multi Million Dollar Business Man
1. The most common thing most people are wasting their time and money on in business
Everyone is building instead of selling.
95 – 99% of the entrepreneurs out there that are struggling, are trying to build the perfect product, sales funnel or ad copy when all they really need to be doing is getting out there and selling.
With the statistical results they generate from the attempt of selling, this will tell them everything they need to do so that they’re not wasting their time building something that’s never going to work.
2. If a great startup is hesitating to launch
If a startup truly believes in their product, and that their product will work, then the reality is that it will.
It’s like Henry Ford saying:
“Whether you think you can, or you think you can’t, you’re right.”
If you really believe in your product and you go out and sell it, the market will help you build it into the perfect product. Sitting back and trying to thought process, survey and all of these different things on an initial product is just a waste of time.
You’ve got to go out and make the money. The more money you make in selling, the better you can develop the infrastructure of your product. The mindset has to be “You know what, you’re never going to make every one happy.” But if you go out into the market and you start working your product, people will supply you with the feedback and will appreciate the improvements as the product gets closer to becoming “the perfect product“.
3. Where real success in business comes from
The real success in business comes from the ability to find out what you are good at, and stop trying to find out everything yourself and find a partner that can do it. Whether that be an outsource worker, whether that be a partnership vendor, or whether that means having an equity partner in your business.
When you’ve transitioned from the 1st level of success to that HUGE level of success and fulfilment, partnering is really the only way that I can see people becoming successful in doing that. Not only will you get back your time, which is your most valuable asset, you will also give your clients and customers a much better user experience when you have the right person doing the right thing every time instead of you trying to do it all yourself and only getting to that 70-80% level. Why not give it 100%.
4. The importance of working on your inner-self to better your business
It’s funny, when I first started coaching others I really ignored the mindset, the emotional triggers, the NLP from the stage, “The Law of Attraction” and that “Napoleon Hill” model. I was always a “hard headed“, “heads down” “nothing’s going to stop me” type of Entrepreneur. And that works, up until the million dollar a year mark but after that, if your mindset isn’t right, you’ll get lost in what you’re doing, and that’s something I ignored up until about 2 years ago and I have dedicated a lot of time and a lot of studying on understanding myself more over the last 2 years. It’s really transformational when you start to accept that.
I can honestly remember being at an event in front of 500 people with a group of other speakers and an NLP coach or Life Strategist would get on stage and I would walk out of the room, and I was ignorant to it. I would say “I don’t need that, I’m good at what I do, I’ve got a lot of clients, I’m making a tonne of money“, and it took a friend to say “Roger, here are the reasons why you’re life isn’t exactly how you want it to be, and the reason is because you aren’t accepting that certain things exist.”
At one point you have to just choose to accept certain things. You’re not going to be able to statistically prove it, but you are going to have to accept it and when you do, it’s almost like you’ve become 20 pounds lighter and the freedom of your capabilities finally get to explode in the world.
5. Advice for anyone who has been offered a large amount to sell a business they love
You have put all of your passion into building this thing that someone is now trying to put a dollar value on. Now there is a lot of statistical formulas and business brokers that can figure out whether or not that is the right price point, but the one thing that no one told me, when it came time to sell my company in February 2012 was, ask yourself this question…..
“what are you going to do next?”
Money is amazing, but it’s only worth what you can do with it. I spent over 6 years building my passion, and that was having a marketing agency that raised a lot of money for Non-Profits. We made Inc Magazine’s fastest growing company 3 years in a row, we where getting calls from investors constantly. Finally the numbers got big enough to let it go. The problem was, I sold my Passion. I was one of the top Non-Profit fundraisers in the United States. Everyone came to me for advice or services, and when I sold that I didn’t just sell my business, I sold my identity, I sold my passion and I really got lost for a while.
The numbers are great, but if this is the first big business you have built, really spend some time pondering first:
“What will I do next? What will my passion be?”
6. How to duplicate Success in any Industry
Success is scientific and when you accept that there will be specific stages you’re going to go through, there will be a specific gradient you will have to follow, and there is an exact statistical review process to every single thing you are doing, and when you know those steps and you know those stages and you know that process, Success is guaranteed. I can say that success is guaranteed if you follow the exact formula for success.
It starts with mindset, and once you have the right mindset you move out of the poverty mindset and into the wealth mindset and everything else becomes very very easy. You just put in the time, you reach the stages and when you reach a specific stage you know exactly what to do when you reach the next stage. And it’s a model that continues on into perpetuity, so knowing that scientific formula is all you need to know to be successful, once you have your mindset right.