Evan Carmichael tells Earl how to turn idea-generation into a business: combine that passion with one or two others, like working with people or inventing, then partner with execution-focused people to build something defensible.
Combine your passions. If you want to have a lot of success as an entrepreneur, your best bet is to take multiple things that you're passionate about and fuse them together to create a business that means something to you, but also really helps you stand out against everybody else because nobody can duplicate you. I got a great question from one of my YouTube viewers— love you guys— Earl, who wrote in to say, Hi Evan, great advice. I have a certain gift of coming up with innovative ideas. There were many ideas that I have developed over the years and only surfaced today. You mentioned passion, and my passion is coming up with great ideas. How do you turn this into a business? Do I start a licensing company, try and sell patents, trend analyst? Please assist. Earl. So Earl, this is a great question and one that a lot of people go through, and your challenge and opportunity is that you found one thing that you're passionate about, and that's coming up with ideas. So you're an ideas guy, and that's That's great, and you need to be surrounded by people who are execution people to take your ideas and put them into practice. But you also now have to find something else that you're really passionate about to combine with the idea generation. See, I don't know enough about you and your personality and what you love to tell you which direction to go into. You know, if you really love people and working with people, then maybe you become a consultant. If you really love inventing products, and maybe you become an inventor and you license your patents. If you really love entrepreneurs, then maybe you start your own business or you start a practice working with entrepreneurs, right? So it's taking your ideas, and there's a lot of different ways to apply it. And if you don't combine it with a second passion, you'll just be bouncing from place to place to place. Find something else that you love doing. If you weren't coming up with ideas, what would you be doing with your time? And then fuse those two together. So here's a personal example. I love ideas. I'm an ideas guy. I think like most entrepreneurs, I don't love the maintenance of stuff and doing the day-to-day work. I love the big picture, the growth, the vision, changing the world, coming up with new concepts, new ideas. That's what I love doing. I also love motivating people and inspiring people and believing in people. Believing in people. I love doing that. When I'm around other people, they get energized and they believe in their ideas, especially when we're talking about something that they want to do, but, you know, they haven't taken that first step yet, or they're not sure how to get it started. I love helping people believe in themselves. And then I also love entrepreneurs. I love— I'm an entrepreneur, I had my own business before. I love working with entrepreneurs. I think entrepreneurs can change the world. All the biggest inventions that are going to come out are going to be from entrepreneurs. I used to have a corporate job and I hated it. I love entrepreneurs, and so I've combined my love for coming up with ideas with the love for believing and motivating people, with the love of entrepreneurs, and mashed them all together to create this business that I've started now. And I'm the only one who does this like me. This is how I'm unique. There's a lot of guys who are idea, guys. There's a lot of guys who are motivators and believers. There's a lot of guys who love working with entrepreneurs, but I'm the only one who can mash them together in my way, and that's how I stand out and, and become known and get clients and be able to increase my prices and make a living, right? So you need to do the same thing. So you found your one, you found the one thing that you love. Now you got to find one or two more, fuse them together, and that will be the idea that will help you Lift off, and with your big ideas, change the world. Believe. For those of you watching, like the video, please support me by clicking on the link in the description. Leave a comment, let me know what you think, and click on my face, subscribe to the channel. Thank you so much. I'll see you soon.
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