Twenty years ago a business mentor I looked up to asked me one powerful question and then made one of the truest statements I have ever heard, while I was discussing a cash crunch in my very first business. The first thing he asked me was "Are you bragging or complaining?"
That completely made me pause and reframe my thinking about the way I was oriented to the present struggle I was facing. Then he made the following statement. "Chris, we are all broke at different levels."
Think about both of those statements for a few seconds and let's talk about why "broke" can be a positive asset to you and your business, not just a negative temporary reality.
If you are struggling to see the genius in these two statements a mentor of mine shared in 2000, then you should read Daymond John's book (of Shark Tank and Fubu fame) "Power of Broke" or watch the interview with him below.
Kevin O'Leary is the famous "Mr. Wonderful" persona on ABC's hit show shark tank which no doubt most of our Startup Drugz community has watched religiously in the last several years. He is outspoken about the value of intuition and pattern recognition in this domain that only comes with time in the game. In his earlier years, he rebuked a mentor/advisor who told him that experience had a value that most young founders like him could not understand and that only failure would teach him. Decades later in this clip below from Behind the Brand, he recounts how spot on that advice was and how he makes investment decisions in entrepreneurs today.
You should definitely subscribe to Bryan Elliott's channel "Behind the Brand" for more full-length interviews of this caliber, but here is a clip on today's lesson.
Real talk with real entrepreneurs on their real tactics, struggles, stories, and lessons learned. Peer-to-Peer, naked conversations and no-hype. This podcast will take your day-in-day-out results up a level with each episode and have you addicted to your own new levels of potential being made into reality! Hosted by Chris J Snook.Read More