In the closing segment of his presentation, the speaker distills his "recipe for success" into three concrete actions for entrepreneurs. First, he urges viewers to align passion with value by listing activities they love and problems they've solved, then ranking each idea on a 1‑to‑10 scale based on the benefit it provides to others. Second, he advises modeling success through two avenues: studying industry leaders (e.g., Microsoft) to uncover early‑stage tactics, and learning from aspirational mentors outside the industry (e.g., Donald Trump, Oprah Winfrey, Bill Gates) by applying their problem‑solving approaches. Third, he emphasizes relentless persistence, framing daily work as a defense against past job pain and future regret, illustrated with Jeff Bezos’s decision to leave a high‑ranking VP role to start Amazon. The speaker ends with a call to action, inviting the audience to share their challenges and successes via YouTube, email, or Twitter.
Chapters
Alright, we've got a few minutes left here in this presentation, and I want to give you some hands-on, nitty-gritty, how to apply the recipe for success to your business today. So a quick recap: what is the recipe for success? Number 1, we're following our passion. Number 2, we're modeling success. And number 3, we're not going to quit. Let's dig deep. Follow your passion. You gotta love what you do. In order to run a successful business. If you try to start a business just trying to make money, you're going to fail. It's not going to happen for you. That's a mistake that so many entrepreneurs make, and it's the number one most important rule because every other business strategy that you follow will not help you unless you follow this number one rule and you're building a business around your passion. It's so important, and so many entrepreneurs get it wrong and spend their money and their time going down the wrong path and end up frustrated and going back and getting the job that they hate. So how do you actually go out and build this business? To make it work, you have to marry what you love doing with what is adding a lot of value to people's lives. If you love doing something but it doesn't help people, you're not going to make it. Or if you're helping people but you don't love doing it, you're also not going to make it. Success comes when you can combine those two things, things you love doing with what is helping people. To figure out that winning business idea, you start by making a list. And on that list, I want you to write down everything that you love to do, things that you can get lost in, things that when you're doing these things, you lose track of time. Two hours go by and you can't believe it. This is a start. For me, I'd write down things like meeting entrepreneurs, speaking, coaching, applying new technology to my business. I love these things. I could do it all day long, and fortunately I get to in my business. You want to find the same thing for you. Write, write down, make that list, things you love to do, you can get lost in. Second thing I want you to add to that list are think about frustrations that you've had recently that got you so riled up, so angry that you had to go out and find a solution. There wasn't anything off the shelf. You had to come up with an answer yourself and you solved it. Because chances are, if you went through that frustration, there's lots of other people who are doing it too, and you can help them. Some of the best businesses in the world were founded on a single entrepreneur who had a problem, they solved it for themselves, and then created a solution to help other people. So write those down too. Things you love to do and problems that you've solved for yourself. Now that you got this list, you got to rank them. And we're ranking them on how much we can help other people. Again, it's got to help people. Just because you love doing it doesn't mean it's a winning business idea. It has to add value to people's lives. If that ingredient isn't there, the business is not going to work. So for every idea on your list, what I want you to do is rank it 1 to 10 in terms of how much value you think it's going to provide people. 1 being the lowest. 1 is like you love sitting on your couch watching TV, ESPN highlights, okay? That's not adding value to people's lives. That's not a business idea. You might love doing it, but it's not going to add value. 10 is something that's going to add tons of value. People will find it really helpful. Rank all of your ideas, and from there you have the base to build something that can have tremendous lasting ongoing value and make you a lot of money. Okay? If you do anything from this whole webinar, that's the most important question you can ask yourself. Make that list and rank them 1 to 10. That's our start. Number 2, model success. You don't have to have all the answers yourself. If you try to come up with every single answer yourself and do everything yourself in your business, it's not going to work. The business will fail because you have limited knowledge and experience. You're really good at some things, but you suck at other things, and that's okay. You don't have to be a super— Superman or Superwoman to make a business work. The key to making it work is to model success. So we're finding people who've already done what we're trying to do and putting their strategies to work for us. The 2 key ways to do it: Number 1, look at your industry. Look at companies who are in your industry, look at the top guys, and look at how they got started. Again, I looked at Microsoft, and I didn't care how they make an extra million dollars now, but I wanted to know how they got started, and I leveraged their partnership strategy and put it to work for me. Research these companies. Look at how they got started. Go to the library. Look online, read books, look at the autobiographies of these entrepreneurs. The bigger the company is, the easier it is to find their story. And we want to find out what they did when they were in your situation. So if your problem is marketing, look at the biggest company in your industry and how they got started, and how did they market their business? How did they find their first customer? There's clues there, and you've got to put them to work in your business, because if you try to figure it all out yourself, it's not going to work. The business will not last. So that's the first kind. The second kind of modeling success is to look at what I call aspirational mentors. These are people who you look up to who have nothing to do with your business, but you just really like them. So maybe it's Donald Trump, maybe it's Oprah Winfrey, maybe it's Bill Gates, maybe it's Coco Chanel. Whoever it is that you love and you look up to, that could be an aspirational mentor for you. And whatever problem you're facing in your business, Look at how they solved it when they were young, when they were getting started. If you're trying to sell yourself and you love Donald Trump, read books like The Art of the Deal. See how he closes deals, how he negotiates, how he gets the best price possible for what he's doing. The answers are out there, and even though you have nothing to do with real estate, you can still learn a lot from these entrepreneurs like Donald Trump. So don't let that industry hold you back. I want you to do both. I want you to find the companies in your industry and look at how they got started, and then I want you to look at other entrepreneurs who you look up to and respect and try to model their success as well. The more you like that entrepreneur, the more likely that strategy is going to work for you because you're going to believe in it. You're going to believe that if it worked for Richard Branson or Donald Trump, it can work for you too. Again, these stories are out there. Go online, read their books. The bigger the entrepreneur is, the easier it is to find their story. Number 3, don't quit. You can't quit. No successful famous entrepreneur shut down their business. It comes from taking steps every day and moving it forward. I know it sucks, and I know it's hard, and I know You wake up some days and you just want to stay in bed. You know, the weather sucks outside, you had a bad day before, no customer orders are coming in, and you just don't feel like getting up and going to work. You got to get out of bed and go to work because if you're not doing it, nobody else is going to do it for you. The cavalry is not coming. This is on you. You've got to go make it happen. You started this business for a reason. Before you were running your business, you were doing something else. You probably had some job, right? Some job you hated. You either hated your boss or your coworkers or the tasks you were doing. You weren't living up to your potential. Think back to what you were doing before you were doing right now. Think back to that job. Think back to all the painful experiences you had there because if you don't get out of bed and go do something today to grow your business, you're going back to that life. And that should be scary and painful for you, and I don't want that to happen to you. You've got to get up every day and move your business forward. I want you to think about some of the most painful experiences and use that to guide you. Maybe it was your boss humiliated you in front of your coworkers, or maybe you felt the work you were doing was demeaning or beneath you. Whatever it is, make it painful because that's got to drive you forward to get up out of bed and go to work and make something happen today. Okay, the other thing you can look at is what you want to be known for. What are you trying to build here? Yeah, you're trying to make money, but what else are you trying to do? You know, what do you want your grandkids to know you for? And do you want to live with the regret knowing that you didn't give it your all into your business? When Jeff Bezos started Amazon.com, he was 40 years old. He was a top VP at his firm. He was the youngest VP ever at that company. And he left it all to go start an internet dot-com startup. People thought he was crazy, like, who's going to buy books online? But he said he had to do it. He had to do it because he couldn't live with the regret of not trying. And that's one of the most painful things that you can live with, is the regret. And I don't want that for you. I don't want you to be in some crappy job one year from now, looking back saying, "I really wished I gave it my all into my business because I hate my life now, and I feel like if I gave it just a little bit more, one more day, one more day, one more day, I could have made it happen." You should not have any excuse, any crutch for saying that you did not give it your best into your business. We're bumping up against the time clock. That's it for today. I hope you're going to apply these lessons to your business. Again, I want you to follow your passion. It's so important. The number one rule in business is to follow your passion. Number two, model success. Number three, don't quit. I want to hear about your problems. I want to hear about your successes. If you want to write to me on YouTube, on email, on Twitter, I'm here to help. Thank you so much for joining me on this presentation today, and I look forward to seeing you soon.
