5 Lessons From 8-Figure Entrepreneurs #MindsetSeries

There's something that I've noticed about working with entrepreneurs, especially entrepreneurs who are right at the beginning of their journey. I've noticed that I can give the same group of instructions to two people and one will go on to build a multimillion dollar business and another will call me a scam artist. And it's not their skill level or their experience or their age that determines which one of those you are. It comes down to the beliefs and the mindsets that you practice. That's why I think it's so important to talk about mindset when we're talking about entrepreneurship and making money. Because if I give a playbook to building a million Dollar Business to someone who has a terrible mindset, there's no amount of proof or case studies or information that can help them implement it. But on the opposite side, I could give a few small tricks or tactics to someone with a really positive mindset and they'll be ready to receive it, ready to implement it, and they'll use it to make millions of dollars. So even though I teach all kinds of how to stuff and my book 12 months to 1 million is literally the playbook to Building a million Dollar business, it means nothing if an entrepreneur doesn't have the right mindset. That's why I recently did this interview series with entrepreneurs whose mindsets I admire. They're all entrepreneurs who have built seven or eight figure businesses and they credit their mindset to their success. I want to recap the most important lessons that came from these interviews and see where they all agreed so that you can use it and practice these mindsets so that you are ready for multimillion dollar success. The first theme that came up among all of these entrepreneurs is that hard work does not equal success. Oftentimes hard work is related to success. You have to work hard in order to be successful, but just working hard is not enough to be successful. In fact, Trevor Blake said that he works no more than four hours a day and he hasn't for over a decade. And Brooke Castillo never works more than three days a week. Yet both of these entrepreneurs have reported eight figure net worths. And Trevor Blake has done over $300 million in exits in his first 10 years as an entrepreneur. And both of those entrepreneurs didn't start until they were in their 40s. Both of those individuals were working really hard in corporate careers before they became entrepreneurs. And then within a few years of being an entrepreneur, they had wild success. Both of those individuals credited their mindset and the beliefs they have to the reason why they had such rocket ship like success. And Stacy Bayman talked about how she was grinding and hustling and putting all kinds of effort into a business model that was broken, but it required her to change the way that she viewed that business before she hit eight figures. Hard work is a necessary part of the process, but hard work does not equal success until you have the perspectives and the mindsets that the hard work can support. And together those two things are what create 7 and 8 figure results in as little as a few years. A second theme that came up was that you can work yourself into belief if you're like me, you're willing to work hard and you want to put in the work to develop the mindsets and the perspectives that make you successful. But right now, you know you don't have those. Well, it's good news to hear all these entrepreneurs say that you can practice and work yourself into a belief. So if you have a crappy mindset right now, that can change. Most of the entrepreneurs that we talked about started with somewhat of a crappy mindset. It took work, it took exercising like you would build a muscle so you can work yourself into belief. And our actions are fueled by our beliefs, not what we want. Oftentimes as entrepreneurs, we think that we need to focus on what we want and what we want will pull us into creating it. But everyone that I spoke with said that we're wired to follow our beliefs, what we believe is possible, not just what we want. You can want something and not believe it's possible and recreate that life scenario over and over and over again. It's changing the belief to match what we want that is the real work. Another mindset that was common among these entrepreneurs is that you should follow your inspiration, not just what worked for other people. In our community of capitalists and entrepreneurs, we obsess how other people became successful. And I think an over obsession over what worked for everybody else is a little bit of belief that it's not possible for you. Because if we're constantly obsessed with with what worked for other people, then we're really saying, I don't know enough, so I'm going to follow what other people did in order to become successful. Sometimes that's helpful. It can be a guide for what we should do with our next steps or what long term goals are really possible for people that are dialed into their work. But it's following your inspiration that allows you to do what's unique to you en route to the success that you want. For example, Mickey Agrawal Shared how she raised capital for her first business. She said that she was going to the meetings and meeting with the right people, but she just wasn't getting any traction. It wasn't until she started having dinner parties that capital started pouring in. And the reason for that was because she said that she showed up as her true self and her real vision and passion came through when she was in her zone, which was hosting dinner parties. And that's when investors said, I want to invest in this girl. The next mindset that was common among these entrepreneurs is that everything takes the same amount of work, so you might as well just go big. Trevor Blake said that everything is energy, so you might as well just pick the things that are really exciting to you, pick the really big goals. If it takes the same amount of energy to do something small as it does to do something big, that then why not just pick something that is really surprising to most people, something that's really big, Something that right now makes you feel a little bit challenged. Leila Hormozi shared how her playbook for building smaller businesses could be applied to much bigger businesses, even though she didn't have any experience in the private equity world. And Stacey Bayman shared how she was working the same amount while she was making a few hundred thousand dollars to as she is now when she's making $10 million. The difference maker is what you believe. The difference maker is your mindset. If the effort and the hard work is the same at a small level as it is on a high level, then you might as well do the hard work on your mindset so that you can unlock bigger levels of success. The next common mindset and belief is that everything that comes down to people, but the first person is your success. You cannot lead someone to a bigger mindset than you have. Everything is about who you are surrounded with. But that means that you need to work on yourself first. Chris Duncan touched on this beautifully. He talked about how to rewire your brain so that you have different beliefs and different mindsets because as you unlock those, then you open up the opportunities to bring other people into the vision that you have. But if you're keeping yourself held back with a small vision and a whole lot of doubt, you're not going to be able to attract the people that help you grow beyond that. Leila Hormozi shared how one of the first things she does to take a business from seven figures to eight figures is to look at the division leaders and the core number two in the business. Everything is people, but it's really hard to grow beyond yourself. So you've got to do the hard work of addressing these beliefs and this person before you can attract the people that will help you accomplish the vision that you have. And finally, all of these entrepreneurs shared how A strong why will help you overcome everything else Very few of the entrepreneurs that we featured on this series talked about the how or even the what they were motivated by a why. And sometimes a strong why is just seeing what's possible for yourself. In the entrepreneurship world, we often get caught up in making more money or how much money somebody else is doing, but we ignore why we want those things in the first place. That's the real juice. That's the real motivation and inspiration that helps us overcome any how or any what. And a strong why is what attracts the who you need to work with in order to create your vision. Making more money is not a very compelling why, but if you listen to what Brooke says she talks about she wants to make more money so that she can see what is possible for herself. That is a strong and compelling why. Even Trevor Blake said that his why was to stick it in the face of the people who doubted him. These are much stronger, more compelling reasons to grow than just making more money. If you can tap into why you are doing this, you can overcome any challenge or any set we are driven by our beliefs. What we do and what we see in the world is often a reflection of just what we believe. There is more information than has ever existed in the world, which is why everyone on both sides of the political aisle or on both sides of any argument have all kinds of data and facts to back up their beliefs. We see what we believe, not the other way around. It's changing your beliefs that will change what you see, that will change how you think and the actions that you practice. It will also change the people that you attract. If you want change, it starts with you and the first thing to address is what you're thinking about. If you didn't see all of the interviews in this series, I would encourage you to subscribe to the channel and go back and watch the different interviews with these entrepreneurs and I'll see you next time. Take care.

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