603. Get Rejected All The Way to the Top - with Kim Perell

You just have to know, I think in your heart that you did the best you could because that's what the people that are investing in you are believing you're going to do.

Welcome to the Earn your happy podcast. I'm Lori Harder, founder of The Bliss Project, 3 Time Fitness World champion, fitness expert and cover model turned self love junkie, lifestyle entrepreneur and author. Each week I'll bring you a guest or a thought that will help you bust through your fears, connect to your soul and get focused and clear so you can elevate your life, business and relationships. We don't wait until we're ready for someone to tell us we're good enough. We take what we want and we anoint ourselves. Get ready to earn, own and unapologetically rock your happiness every single day. Are you with me? Here we go. Go right now and put a sign in lipstick or on a post it on your bathroom mirror that says get rejected as your reminder to know that if you are not getting rejected, you're not asking enough and you're not doing it right. You guys, my guest today gave me this total amazing breakthrough piece of advice. She wasn't actually giving it to me, she was telling me it's what she did when she was really moving her company forward. And it's exactly what I'm doing. So if you want to know what's on my mirror, it is a sign that says get rejected as a reminder that it's a good thing. It's how you know you're moving forward and how you know you are getting out into the world and every time you get rejected, you are getting stronger. So my amazing guest today is Kim Perel. She's an award winning entrepreneur, investor and best selling authority. She's made headlines for her transformative story from a startup entrepreneur to a leading tech CEO and prominent angel investor. She was laid off from her first job out of college at an Internet startup that went bankrupt. And then she began her journey as an entrepreneur from her kitchen table and grew her company to over $100 million in revenue. Kim went from broken unemployed to selling her first company and becoming a multimillionaire by the time she was 30 and selling her last company for 2,235 million dollars. When I hear that number, I know the type of resilience and effort and the person that you have to become in order to be able to do something like that. This woman has so much wisdom. She is a great believer in paying it forward. Her passion is to help others achieve success. And let me tell You. This woman has offered me more than I can possibly tell you and completely has changed my life already. She's an investor in over 80 startups. Are you kidding me? You guys, she wrote the book Execute and or the Execution Factor. And I can absolutely tell you that that book changed my life. When I was first starting my business Light Pink, I wrote Execute everywhere, all over everything to remind me that when I get scared or when I don't know what to do, that there's always something that can be done, and that execution is going to be the thing that moves you ahead. Execution doesn't mean it's going to be. You're not going to fail. It means that you are moving forward and you're trying everything out, and you are exhausting possibilities, and that's all that it means to be an entrepreneur. So definitely go check her book out, the Execution Factor. Go follow her. This podcast literally rocked my world. Blew my socks off. And for sure, you guys, something that I would love for you to do before we get started into this podcast, just click out, go to Instagram, go followightpink, so you can be a part of my journey as well in creating this epic company. And you guys know that if I'm creating anything or doing anything, I'm bringing you along for the ride, because I know that my journey on the planet is to empower you to know that you can do huge things out in the world. So what do you say we. We start this podcast? Because it is amazing. Let's go. Kim, I'm so excited to have you on the podcast. Thank you so much for coming on.

Thank you so much for having me, Laurie. I'm very honored to be here.

Okay, so I was browsing the bookstore back when those were open. Remember that?

Yes.

And your book popped out at me, and I picked it up and I was like, okay, Execution Factor. I absolutely, like. I resonate so deeply with the word execution because it's just powerful within itself. And I saw that it was a female founder, and that was it for me. I was like, execution and a female. I'm going for it. So I started reading it, and immediately it was exactly the book that I needed at the exact time that I was in. And then I started following you. And I have loved. I just love how you show up in the world and how you are all about educating people, and you're so real about it. It's not just like, okay, here's what I did, or here's this story about how it all went down, but it's really, like, you're showing people that it's possible and giving us the steps to do it. So I think it's so cool that you have come back to reach to the people who maybe are not in your position and help put. Pull them up. So I'm so grateful for you.

Oh, thank you so much. That's awesome. And it's really about paying it forward. I've been there. I've been. I've been. I've been, you know, laid off and broke, bankrupt. I've been everything. And I feel like it, you know, I've been very grateful to have some really special people help me along the way, and I really want to make sure that I can do that for others.

Oh, I love that. And you guys, if you don't know, her book is called the Execution Factor, and this is pretty much the anniversary of me knowing about you. So I got your book July of last year, and I'm very excited because I think it's perfect timing to be having this conversation with you. So I know that you've probably told your story a million and a half times, but we're gonna have you just. If you could just summarize for anyone who's not familiar with you, you know, the. Just a little bit about how you got started in what you're doing and what you're doing now.

Yeah, great. I'd love to. So I grew up in Portland, Oregon, and it's amazing up there. I actually just got back yesterday, so it's great place if you've never been. It's just such an incredible place to grow up, to live. And both my parents were entrepreneurs, and I thought after watching them go through many the roller coaster of entrepreneurship, I thought when I graduated from college, I was going to get a real job that had security. And I definitely was not thinking about being an entrepreneur. So I got a great job, my dream job, and working for. I worked for a dot com startup in Los Angeles, and it was awesome. It was like being on a rocket ship. And I was so excited. Called everyone I knew. I told them millionaires. I was like, we're just gonna, you know, it's gonna be like the greatest moment of your life. Which it was until it wasn't. Right? It was until it wasn't. And so we raised about $120 million in funding and spent about $120 million in funding. And the company unfortunately went bankrupt. And I found myself broke, fired, devastated, unemployed. And honestly, I just wanted to just sit my bed with my covers over my head. And I didn't know what I was going to do. You know, I felt like such a failure. And I just remember sitting back and you know, just thinking about what am I going to do next? And everyone just laughed at me. And they were like that Internet, that's a fad. Because it was an Internet marketing company and it was a precursor to Dropbox. But they were just, you know, Kim, you should get a real job. This is, you know, obviously that didn't work out. And you know, I think we've all been in a place like that where you knew you had to do something different. You didn't know how. I believed in the Internet, I believed in the opportunity. But I had so many people just tell me why it wasn't going to work out. And obviously my track record of bankruptcy wasn't so good either. So you know, honestly I brushed myself off and I called the one person who I knew would make a bet on me and that was my 80 year old grandma. And she gave me a $10,000 loan to start my first company. And really with $10,000 I was like so blessed, so grateful and I told her to pay her back. When I eventually became successful and I bought a computer and a GoDaddy account and took it to Hawaii where I could live with my boyfriend and I started a company. And so that company eventually grew to $100 million company. But you know, I think it's important, like there is no such thing, such thing as an overnight success. And mine was definitely not that. And it's important, you know, when you think about, you know, starting a business or a side hustle or whatever it is that you want to start looking at it from a long term play, like things just don't happen overnight. So you have to really be committed to long term success, whatever you're doing. And I was, I believed in the Internet, I believed I would be successful. And you know, and I built the company and eventually sold it in 2008 to a European advertising company which was an amazing feat. But you know, really at that kitchen table, you know, I started at my kitchen table. I can build a great. And I started like in a very bad time. So it was, you know, right. You know, after Yahoo gone public and then all these companies were going bankrupt and all these companies were going under and I thought there's never been a worse time to start a company. Probably like many people feel right now, I would assume there's never been a worse time. Like there's no, there's no money, no one's going to help you. But I did and I think it's really important when I look back, great companies can be made in hard times and it's really, you know, but you have to be tenacious, you have to be willing to really passionate about what you're doing. But I believe even today there's so much opportunity. So I, you know, since 2008 when I sold, I've since invested in over 80 different startups. I love the entrepreneur. I wrote a book about entrepreneurship and how to succeed in business and life, which is the execution factor, which became a bestseller. And really my goal in life is to positively impact as many people as possible and really share my story and the principles that I've used for success. So it's been a crazy ride, but I'm living proof that anyone can go from ordinary to extraordinary. And I really think that looking back, you can't transform any obstacle into a stepping stone to success. Right. And how do you, and really how do you do that? And helping people achieve their dreams.

Oh my God, there's so much there. Like this could be a four day podcast, but I will probably much longer than that, right?

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But I will, I would love to know because obviously we can kind of take this 30,000 foot perspective when you, you know, what is it Steve Jobs says you can only connect the dots. Looking backwards, are you able to kind of pull some of your main beliefs or traits of an entrepreneur or of yourself through that, that, you know, had pulled you through in those extremely challenging times. So essentially, what's been true for you as an entrepreneur in order to achieve success?

Yeah, when I look back on my career and I really believe the one thing that drove my success more than anything else is execution. Because ideas are a dime a dozen and I get pitched ideas all the time. But execution is the difference between the dreamers and the doers. Success and failure. This one skill is comprised of five traits that I outlined in the book. But they really are important skills that everyone needs to master in order to be successful. And I can take you through just, you know, at a high level. The five traits are. The first is vision. So this is having that North Star, like that compass of every day. You wake up, you think, what am I going to achieve? It's so crystal clear to you and your heart. And the second is passion. What Are you willing to sacrifice or suffer for? And that's hard. I mean, like, what makes you stay up late, work early mornings, you know, forget about going to watching TV all night, like there's something that you're willing to sacrifice for. The third's about taking action, right? Like that very first step. So I have big vision, but like, what's the one small action you can take today? And the fourth is resilience. So honestly, based on my career and based on everything I know, everything that will go wrong, like, everything will go wrong. Something's always going to go wrong. Right? So dealing with obstacles, change and uncertainty and this is so important right now at this time, right. It's hard. Like, I totally agree. And how do you overcome, how do you build that resilience muscle so you're able to take those setbacks and keep moving forward and then surround yourself with positive people? You know, I think the relationships and having the right people in your life is so key to success. And when I look at execution, these five traits make up that execution. If you don't have one, it's like driving down a bumpy road with a wheel. You actually need all five to have a smooth ride. So it's like, how do you actually execute successfully? Well, it's really about focusing on these five areas and making sure that you are really able to embrace these traits to your ability.

Oh, God. I just completely every. With every bullet point that you were going through, I could put myself into a million different scenarios where I'm like, yes, absolutely. Yes, absolutely. And they are all best friends. Like, you can't have one. You can't have one without the other. And then the fact that five is people. I literally, it's what I wrote my book on was people, like being the thing that making sure you surround yourself with the right people or, you know, when those hard times come, you need those people to pull you through. Not just that, but it's like businesses are built and companies are built off of, you know, who you're talking to and networking with and how, who, you know, who can help answer questions. So, yeah, my God. So, so powerful.

Yes. No one is successful alone. God, know that.

God, no. Like, literally can think back. Thanks.

And Army.

Yeah. If I were to do things myself, I would stop every day at like my first question. Like, huh, I don't know.

Exactly. Lifeline, I need help. Yeah, right.

Google or somebody. Yeah, yeah. And it's, you know, this is making me think about just those like, breadcrumb moments that you sometimes you don't when you're putting something together, when you're putting your vision together or plan, oftentimes, you know, you just have an idea. So I'd love to hear for you. You know what, how does somebody know when they have this great idea, but they know nothing about the industry? I hear this all the time. I'm actually in it right now. But what are the things that they should implement first? And do the answers come, like, all at once? Or is it these small answers and you have to keep piecing the puzzle together? In your experience, what has that journey of kind of putting the puzzle together look like?

I think starting with a vision. So going into something you don't know anything about, I mean, it's scary, right? You must know that. It's just. It's almost to a paralyzing effect. So, okay, how am I going to do this? How am I going to move forward? I mean, it comes back. To be honestly, when I think back, it comes out to those relationships, like, is there a mentor? Is there someone that shoes that you. That has walked down that journey that you can call? Is there somewhere you can reach out to? If you're trying to launch a product that's in a store, could you go to the store and ask the owner? I mean, what I found is that people really want to help and they want to answer and share their own experiences. So it's about having the courage to ask for help. And when I look back, there's so many times that people are afraid of reaching out for help or asking or afraid of rejection, all these things. And I have those fears. Right, but how do you overcome those fears and find someone that can help educate you? Yes. Google, obviously, could be your best friend, too, and it's amazing. But there's also, you know, to your point, there's books, there's research, and it's understanding the market you're going into. But then also, you know, what differentiates you in that market? Right? And I think that's really important to say, like, where's that white space that you can own and how to clearly be able to articulate that to others? And I think that's, you know, as you're going through rebuilding your business, which is so exciting, you know, how do you continue to. To have that clear vision, to enlist help of others and to be able to execute against your dreams?

Oh, God. Okay, so, Kim, while you were building your last company, did you ever have those moments where so many people were kind of telling you, like, this is hard, or you're in over your head. Or maybe this isn't what you should be doing, or you're doing this in a completely different way than most people do it. And maybe someone's telling you to do it a certain way, but your gut was just so clear. And did you have those moments of deciding to follow your gut and having it be a good thing?

Oh, yes. Don't you? And I think that's. It's so. Even now all the time, you know, it's natural to fear, like, feel fearful. And it's natural not to know. But it's also like your heart knows what it wants to do and it's being really in tune to the opportunity. So honestly, I've had so many people just tell me, no, tell me why it's not going to work out. Tell me that. You know, honestly, when I'm selling, they reject me. I mean, I kind of find it a game. So I just try to get rejected all the time because then it doesn't hurt so bad.

Yes, totally. I'm like, the more I can handle this, the better I'm getting.

Yes, right. You're like, it totally works. So it's like, it's like your own game, you know, And I put like a post it on my. On my mirror in my bathroom about like my vision. And like, you know, for a while it's like, get rejected. Because the more you get rejected, the more someone tells you. No, the more someone tells you why it can't be done. It's like, right. Your confidence in yourself has to be greater than anyone else's doubt. And like, that has to be your belief. It comes out just like. And that's hard, right? When the world's telling you no. And you know, it's like you know what's meant to be, even though everyone else is telling you it's a terrible time. Like, this is a go again. People don't go get a real job. Do something. Do something that actually has potential. It's like. But you have to just believe in yourself and your own potential to create something that is usually passion for you, like what your passion is. And I think that gut instinct, right? Makes a huge difference.

Oh, yeah, that is. I'm so glad you just shared that because I think that's one of the biggest things. When you get an idea, you start sharing your idea with people or getting people on board with the vision. And then if you have somebody who's like, maybe doing really well in that industry or, you know, somebody who's really well known in that industry or who's had a lot of success. And maybe if they tell you, like, hey, this isn't the best way to do it, or not a good idea or not a good time, it's. It is gonna take all. You have to, like, reset and be like, okay, that's great that they said that, but maybe I need to actually reject that advice because it's going against my gut. Now. How do, how did you navigate the difference? Like, that's actually some really sound advice that maybe I should look at and think of pivoting or, you know, maybe I need to ignore that because I know just in it's crazy to be like, should I trust this person who knows a lot or should I trust my gut?

Right? No. And I think there's a, you know, there's a bridge of belief. But I also think that, you know, I always looked at what's the worst case scenario, right? So, like, what's the worst that could happen if you move forward with a potential opportunity? You know, in my case, when I started my own company, then I just have to go apply for a job, right? Or, like, I'd go bankrupt. I'd look like a failure again. Like, could I handle that? Well, I'd already hit rock bottom, so there was no place to go but up, right? Like, hey, you know, I'm already at the bottom of the, you know, I didn't see how it could get any worse than honestly what it, what it currently was. So, like, I guess when you have nothing to lose, you know, you're more, you know, you can go one way. It's like light or dark? Like, can you go towards the light and like, believe in yourself again and pick yourself back up? Or do you use that, you know, moment as something that, that you can't recover from? And I think going down, the worst case scenario is really important. Like, can you live with that worst case scenario? Like, will life go on? Right? And knowing if you decide to pursue that opportunity and it doesn't work out, which it might, you know, 90% of businesses, you know we're going to fail. So whatever you're doing, can you live with the outcome? And honestly, it's like, I try to live my life without any regret. So I live large all the time and, like, swing for the fences now. And, you know, I look back and it's like people always ask me, like, what would you, what advice would you give to your younger self? It's like, I would have gone bigger, like, just in everything I did. I know that sounds just, you know, it sounds crazy. It's easy to be able to look back to your point and be like, oh, I would have gotten bigger, but you know, again, why not start now? Just go bigger now, right? So now I look at my life and I'm like, I'm just warming up. Like, I'm just getting ready.

Oh, my God. I. Okay, I'm gonna just take that clip and replay it over and over. It's such a good reminder because I'm actually in that moment. If I'm being completely transparent, I'm in that moment of like. So I've, I've always done that, which I, I freaking love hearing that you do that too. I always go to worst case scenario first. Like, okay, what's worst case scenario? And can I live with it? And right now, my worst case scenario is a new worst case scenario. So while I understand rock bottom, I've been there, lost houses, been, you know, like, crazy in debt, like, completely bankrupt, where we, you know, so definitely experience that. But now I'm in a place of raising money in the thought of what if I lose these other people's money? And then being like, well, that's, that's obviously something that's talked about through expectations. Like, people know when they are investing that X, Y and Z, you know, they know what they're doing when they're investing in a company and investing in a person. So for women out there, or people, but mostly this audience is women, I think a lot of fear, especially around. Because for, for this audience, it's a newer topic of, wow, I could actually, you know, really start looking for investors for something that I'm doing. It's a newer lingo. Not lingo. It's a newer idea for. Because I have a lot of entrepreneurs that just kind of, you know, bootstrap. So with that said, I'm trying to expand their horizons on, you know, being able to invite other people into your vision and what an opportunity that is not only for you, but also for them that you're including someone. You know, it's. There's. There's a beautiful quote. It's if your dream doesn't include other people, it's not big enough. And it's kind of that idea of like, how can we invite these other people in but not be afraid? Afraid while not letting that fear consume us over. Oh, my God. Well, now I'm gambling with other people's, you know, money or time or whatever that looks like. How did you sit with that and learn to, you know, make it right in your brain? To feel good, to just power forward with what you know is supposed to happen.

Right. I think it's hard. Like, I honestly, I think it's hard. I think it's scary. But again, from an investment, and I do a lot of investing, I. I'm aware of the risk. So I think it's important to remember that as an investor, you're aware that you may lose your money. I mean, probability actually is that you will. Right. So you're investing in ideas and people and products you believe in. So if they're. And it's okay to ask, it's okay for someone to say no, it's okay for someone to say yes. And it's being, you know, being okay with all of those outcomes, I think is also important. And when I look at just the companies that have invested in, the people I've invested in, and some of them haven't gone well, let's be honest, not all companies are successful. I've had hugely successful exits and IPOs, and I've had some companies that have gone bankrupt, like the one that I was at when I first started. So I think it's having courage because it's interesting from a woman's perspective. There's an interesting quote and studies that a man will ask for something even if he's not 100% sure. It's like, again, women should just ask again, you could get rejected. But ask for it anyway because there's a lot of capital out there. There's a lot of great women with great ideas. But having the courage to ask for money, I mean, that's hard. And I get it. I've been there. I understand. But do it anyway.

There are so many challenges to business that I don't want starting to be.

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Yeah, I, you know what I, that is amazing and I love that because here's how I'm going into it right now is you know, even with the money that I've like raised so far and the people that I've talked to because Chris and I, my husband have invested, we've invested in five different companies, not 80, but five so far. We'll get, we'll get there. But it's been the best, oh my God, it's been the best. Lessons in just like, I don't honestly like if none of them ever did anything, I still have gained more money than I have like put in out of the education from which I've been able to learn through these different entrepreneurs and founders. And so when I've talked to the women who have been in starting to invest in my company, it's truly like, you know, I think setting that expectation of yeah, this, you, you could abs. I want you to be completely aware that you could lose your money going into this. And also I think this will be the best. It's like investing in a mastermind, to be quite honest. Like you're about to get the craziest education if you follow along with this that will help you in the future with what you're doing. So it's been a really great like it just feels clean to me. I have no other way to explain it than like having, making sure that your people have awareness around it and who you decide to obviously take money from, receive money from is so important because I'm sure that you had moments of like getting offered, you know, incredible money from somebody who maybe didn't feel good. Do you have an experience of that?

Yeah, I think there's a lot of times, you know, when I look at it and I built my business and companies always from a long term view and I think that's really important. So I've been, you know, I was acquired in 2008, I was acquired again in 2014 by Singapore Telecom for $235 million. And like, I really looked at that as a relationship. Like my job was to uphold what I was selling and to do the best I could every day. And you know, I think knowing at the end of the day, if it doesn't work and you know, building a company or investing money or taking money from someone, you just have to know that you did the best you could every day. And like, if you can, no matter what the outcome is, whether that you build a billion dollar advertising company or you take money and you're able to, you know, and it doesn't work out, right, like, you just have to know, I think in your heart that you did the best you could because that's what the, the people that are investing in you are believing you're going to do. And I think no matter the outcome, you have to be able to wake up and say, I did the best, I did everything I could. And again, it's a risk, right? So just understanding to your point, the five investments you made, you make relationships, you meet new people, you learn new things. Like maybe the investment doesn't always maybe be monetary, right? There's other ancillary byproducts of investing that you may not see today, but maybe in five or 10 years, right, you'll meet someone or you'll pivot the company or you just don't know. But again, I think it's important to just understand, you know, it's hard and I think you'll probably relate to this like friends and family, like just making sure that, you know, I honestly, I feel terrible losing anybody's money, but the reality is they're making a choice. They could lose their money. And the reality is like, I'm a great bet. So like the best bet you can make is a bet on yourself. So it's like, listen, if I've been putting in my own money and your money is just as good, as good alongside mine, like we're going to lose together, right? You're putting the time and capital and all that energy in. I just think, you know, going in with that belief and knowing that you will be successful, you never know what the outcome is going to be, right? Hindsight's 20 20.

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I agree. And like, really, if 2020 has taught us anything, right? It's like anything could happen, so everything could change overnight. The only certainty is uncertainty. So why not expect great things to happen, right? Like, anything is possible. And so I think it just gives you that new perspective on, like, acknowledging the fear, the uncertainty, the doubt, and just doing it anyway because you don't know what's going to happen.

Oh, my God. So that is going to. Let's just take what you just said and roll that into what you're doing right now. You have a side hustle accelerator. Is it in partnership with Entrepreneur or you built it together? Okay, tell me about it.

Yeah, we built it. So I'm a huge fan of the Entrepreneur. I'm a huge fan of Entrepreneur magazine, the Entrepreneur team. And, and, you know, we've been working and collaborating for a couple years now, and we decided, you know, in January, before everything, where the chaos hit, that we were going to create something together to really help other individuals who had a great, you know, either a, got a great idea, didn't know where to start, or who wanted to start something but didn't have a great idea and didn't even know what idea to pursue. And like, how do we give them the tools and the resources they need to start their side hustle? Because I started mine at my kitchen table. Everyone's got a kitchen table and everyone's at home sitting there. It's like, what could you start? You know, And I think. And you know, with little or no money. And I think that's the important thing. It's like, we're not saying invest your whole life savings, actually. It's like, how do I start something without investing a lot of money? How do I get to a proof of concept of a new product or a service without having to invest in significant amount of cash? And that's, you know, from my perspective, instead of having to start raising money, like, what can you do without doing that? And really. So we created the side Hustle accelerator, which is just a program that enables you to start your side hustle using all the principles that I've used in my book. The principles I've used to honestly, to get customers. There's templates of letters that you can send to get referrals, to get mentors. Like, literally exactly how I would write them. Right. And it's so I just feel like, how do you help the most amount of people start something new? And, you know, it's interesting because we went into it thinking, how do we help 20,000 women start their side hustle in 2020? And you know, really for me, this is like a passion project. Let's do it. Let's help as many people as possible. And then when Covid hit, you know, we found that actually everybody wants to start a side hustle, not just women, not just men. It's like, so. So we then pivoted to just, you know, really opening it up to anyone that's wants to start the side hustle. We'll show you how. It's easy. You don't have an idea. There's a director with a hundred different side hustles you can start today again, using someone else's platform or infrastructure before you go out on your own. And I just love the taking the risk out of it. I think that's really important because that's really scary. I don't think it's a good time to start investing all of your money in something that you don't know what the outcome is going to be. Right. But it is a great time to start something new. I could not be more confident. I think I've started three new companies in the last four months. And it's really about. This is the perfect time to create, to innovate. There's new opportunities every day, especially coming out of the current crisis. Right. So what are those and what can you provide that will be of value to, you know, to someone else? And really sitting and thinking about that, because there's so many things I can think of that actually, like, even to your new business. Lori, like four months ago, I could not order alcohol to my door. Yeah, like, it just didn't help. Like, the crisis has actually sped up that entire digital e commerce for alcohol. Like, that landscape. Right. Like, that's amazing.

Just like, for sure, I can, you know, I'm. The other day I was like, yes, this happened for me. And I was like, wait, let me just clarify. I don't think Corona happened for my business, but I Am saying, like, if I believe exactly 1 million percent, everything that you just said, I think right now is the perfect time to start a side hustle. I have always been the bootstrap entrepreneur, so this is like, I believe in it more than I can possibly tell you. I think that we can, you know, join your accelerator and literally, if you took everything to heart, be making money by tomorrow. That's the world that we live in.

Because everything isn't that amazing.

It's so freaking awesome. It's like, you can create. If people can really grasp this, you can have your idea and have money come out of thin air in your bank account tomorrow if you have a product that your people are looking for. Um, and I think to your point of what you're doing with entrepreneurs, starting this side hustle accelerator is like getting people together to not only be like, okay, let's look at this and look at what ideas sound good to you, but the power of everybody coming together to prove to each other it's a good time. And look, Sheila over here made money. And look, Bob made money over here. And the more that you see that in your realm of, you know, friends, experience, people you're around and with, it's like, it makes it possible for you too. So there's two huge things going on. Is, number one, there's success everywhere right now. Like, it is everywhere. You just need to plug into where it's at, and it sounds like it's in your groups. And number two, maybe I just said two twice, but it is. It is having that mentor and having someone who's done it before be like, yes, this is possible. Look, it's happening over here. Or this is how you do it, or this is how you plug in. Or it's like, we over complicate things, and it's actually not that hard to start a side hustle. But it does take that execution factor, which also helps having people. Right?

It does. It does. And really getting, you know, that blueprint for success, right? And learning from. It's like I always say, how do I skip the line? Right? So it's like, for anyone that's looking to skip the line, this enables you to do it. Like, how do I accelerate my success? I mean, I. And I love to read. I read all the time. So question is, how do you learn from someone else? Like, I don't want to reinvent the wheel. So if someone can pick up where I left off, that's amazing. That's like 20 years of knowledge that is packed into these principles. And the tools and the resources that, gosh, I wish when I started my first company, I had. Right? And that's the intention is like, how do we give someone those tools to really skip that line and become successful and accelerate that success?

That's huge to point out because I think for people who maybe aren't investing in programs or mentors, and I can't tell you, I would never have been able to do anything that I'm doing without number one for starting from books before I could afford different things and then saving money to invest in a program or a coach or whatever that looked like because they. You can't quantify the value that someone who's been there before is going to save you right down to like, hey, don't use that website person, because I spent $12,000 and didn't get anything out of it. So it's kind of like, would you be willing to spend $2,000 on a program to save yourself that Sometimes you save it in one question, right? Like, you can't identify the value of a good mentor. So I think it's really easy for people to forget that, to be like, well, I don't have that money to invest right now. Maybe I should just go and figure this out myself. You know, after two weeks of research and a bad decision and it's like, or you could just spend it and get all your answers in a day or whatever that looks like for a coaching session or what. Whatever it is, your. Your program and I, we forget that because we're coming from a different way of making decisions. We're not coming from maybe that, like, entrepreneur mindset of making decisions. We're, like, making it from the newbie. I need to save money, fear and lack position. So, yeah, having a mentor. Do you still have a mentor? Do you still coach? Or what is. What does that look like for you?

I have so many. So it's been. I mean, honestly. And I feel like I have had different ones for different times in my career based on what I was doing. So I feel really blessed. And honestly, I try to, you know, to speak to as many entrepreneurs and individuals as possible to try to help them out, because I do feel I have a. I have great experience. And to your point, there's, you know, there's a. When you're starting something new, you can feel overwhelmed, paralyzed, and you don't, you know, people try to be perfect, but it's like progress over perfection. Right? So instead of, you know, I spoke to my editor, like, I spent four months on my website it's like, oh, my gosh, you're going to spend another four months. I guarantee in four months you'll come back. You're still working at, like, you actually don't need all of this to get started. Like, I actually recommend just doing, like, you don't even need a website until you have at least three paying customers. It's like, pick one social media outlet where your customers are likely to find you, whether it be Instagram, Facebook, LinkedIn, Twitter. You can't. You, like, you can't do all of them. Right. And so it's really about, like, having someone that's already that knows that, like, it's impossible. Like, yes, you want to do everything perfect, but again, that could be the enemy of actually executing. Right?

Oh, my. Yes, yes, yes, yes. I learned that really quickly. Like, the first year when I was like, okay, nothing. I've spent so much time on this damn website. This was probably like 12 years ago now, and. And nothing had happened. I still hadn't had anyone. And I was, you know, like, this is like when you first got your website. And I just learned quickly, like, this didn't actually create anything, but me putting a post on Facebook got me a check in the mail much quicker. So it was like, oh, my God, what are we doing? Thinking that it needs to be perfect. When you learn really fast that Susie over here, who's had her business not even on a website, but all just through messages or whatever that looks like, is making great money. So you. It's like, really thinking about how can you get that money in first without needing all of these fancy things? Like, I think to the entrepreneur, what would you tell somebody in the beginning is like, some of the most important things? Is it, like, make sure you're getting paid? Is it a quiet audience? Is it. What does that look like for somebody who's kind of starting out in the space?

Yeah, I think when you look at someone that's just starting out, it's like, again, knowing exactly what you want to create, but the reality is, unless someone's going to buy it and, you know, lack of market need has been cited as the top cause of startup failures. So is your product something people want or something you just think they want? Right. Because if people actually don't want to buy your product, and I've seen people, if I build it, they're gonna come that. No, it's like, we're not in field of Dreams. There's no Kevin Costner. Like, it's not gonna. It doesn't work like that.

Right.

Like so really understanding what you're offering is. And if someone actually would pay you money for it, else it's just a passion project, right. If you're not going to get paid. Economics for what you're providing, whether it be a service or product. And I think you can find that out pretty quickly, you know, and that's again, like, how do you skip the live. Well, it's like creating that one liner, creating a one pager sales sheet or just soliciting feedback. Right. And I think often people start building something but they think there's a great idea. They don't get any feedback because they do it. And you know, to your point, like, hey, I'm just going to do it. But the time to get advice and feedback is before you start building everything. Right. Because you don't want to get feedback after. And then, you know, you created a product first, you know, for a problem that doesn't actually even exist. So, you know, my recommendation is to create the opportunity to try to honestly even like pre sell it. Right? Pre sell through. Hey, I've got X. I'm going to, I'm gonna start a juice company. I'm gonna, you know, provide you with juice. Would you buy it? Can I take a pre order? Right. Or whatever it is that you want to create because. And even maybe like give it away for free to three people and get some testimonials. Like, I liked your product, I didn't like your product. But just getting that feedback I think is essential, especially before you start, you know, again, investing a lot of time and money, you know, that into the, into your, into your startup.

Oh man. Yes. And yes, I. So I've definitely launched things that I thought were a need and found out weren't. It happened like these two people are so excited about it. All right, I'm glad I filmed, you know, this course for three months of my life. Great lesson though, really great lesson. But now I, you know, so with this company that I'm launching right now, I spent more time on research than I did on, you know, worrying about the product forever because I was like, I'm not going to launch a product that people don't want. So I actually spent most of the time saying the product was already essentially being made while researching and seeing if it was something that they would even want. Not just like hypothetical, like, hey, if I made this, I was like, hey, this is what I'm doing. What do you think? Obviously, knowing that I could pull back or out or I haven't, you know, invested A large amount of money to. Up to a certain point to find out. And it was the best thing I've ever done. And it wasn't just like throwing it out on social. I did it when I was speaking in stages of a thousand people. I did it, you know, to different text groups or different people's membership sites and things like that. So that was really. If I can tell anyone anything, I would say definitely what you had just said. Like, make sure your audience or your people who you have currently right now are interested in the product that you have. And if not, you might need to also then focus on, you know, building your audience. If you don't have a specific audience to. Yeah, so that's my next question. Let's talk about that. So if somebody doesn't have, you know, an audience and they have a product in mind, number one, maybe they should just focus on building the audience around what they're interested in. Where would you say to start with, like, that audience acquisition?

Well, I think first it's studying your competition, right? Like the most. Find the most successful people doing what you want to do. Study their patterns, their activities, like their resources, like action traits, things that they're doing, like where they're selling, how they're selling it, what they're selling. Like, I think you can learn from the experts, right? So I'd say, you know, it's really important. If you have a great idea and you have a target market, how do you learn? Again, don't reinvent the wheel who's already doing it. Like, think about how they're marketing themselves and learn from them. And I think that's like a great opportunity and a great place to start. Again, if you don't know your. Because you'll find the audience. If they have a Facebook group, you'll learn who the audience is, right? You can engage with them in different ways. And I think that's really important because if you're starting without any knowledge of who your audience is, I think, again, to find new customers or the right customers, how do you do that without investing a lot of capital? Because digital advertising is expensive, right? And I know that because I run many digital advertising companies. But how do you get, you know, what are. What are simple ways to get customers that if you don't already have the audience. So it's like, number one, I'd say ask people if you could do it for free, because then, you know, in exchange for whatever you're giving them, they'll refer you to their friends, their family, their colleagues, their neighbors. Right. So you kind of are expanding the circle of your current influence, and I think those referrals are really important and a great place to start. I think you can go local. So what's the local opportunity? Whether it be on a bulletin board or next door or Yelp or. Where can you go online and offer some sort of promotion? And, like, how do you join some sort of networking group, your local chamber of commerce? Like, how do you. A Facebook group, a LinkedIn group, to get that. They get that audience where you may not already have it and become that expert? Right. So it's just offering the advice. You know, you have to. If you want to be the expert and you want to be able to sell it, you have to be able to offer something, in my experience, you know, for free. So what is that? What can you offer? And that knowledge is a gift. Right, so how do you offer that?

Yes. So good. Okay, so I get this question all the time. I actually love speaking on this, and I'd love to hear your input as well. So for people who are. There's a couple different tiers that I think that we can just kind of acknowledge of the people who are just starting out, who their learning can be through programs, it can be through books, it can be through podcasts. Then there's people who are really taking it to the next level, who, of course, they can invest in coaches and different things like that. And then there are people who are really, like, doing something that they don't quite know if there's coaches you can hire for it or. I'm literally talking about myself, but looking for. It's that scary line of. And I've been here before when I was, you know, starting to write a book and launch a book. It's like, where do you go when you know who you are wanting to emulate or get advice from, but you don't feel you have something to offer them as far as, like, in even value exchange for their mentorship. So if somebody's looking for mentorship out there and they're starting a company or taking a really big leap, and they're like, man, I actually don't know where to look for this one. I've done the books. I've done different coaching or things like that, is it simply like, really shaking all of the trees and asking people who have been there and you admire, even though they seem not accessible?

Yes, I think it. I honestly think it is. I think it's finding someone who's been there has done that and asking them for, you know, I say, you know, you can increase your chances of success by like 10 times for under 4 bucks. How? Because just ask someone for coffee, even virtual coffee, it's free. But the idea is, and people ask me all the time, they're like, kim, you're so busy. I'm like, actually, I really make a point to give back, to find the time to help. So I actually think it's about asking, you know, I think it's an excuse. I think people, you know, have the courage to ask, have the courage to also get rejected, right? But like say you reach out to 10 people that you admire that you, you know, and ask them for 15 minutes or 30 minutes of their time. Like, I really admire what you do and I'd love to just pick your brain. I'd love to. And that's, I think really important. I think people underestimate how much the others want to pay it forward. And it is about shaking. And it's a numbers game, let's be honest. Because I also think it's persistence because, you know, even in, you know, during this time someone had, you know, a young woman recently approached me looking for investment and her first email, like honestly wasn't answered because my schedule was just slammed and it just kept going, pushed down, as I'm sure, you know, in the pile of emails. And she followed up with me later, you know, asking for 15 minutes and letting me know what her company vision was to empower these young women in the workplace. I was like, okay, I'm just going to help, right? Because I'm also passionate. So she found a connection or passion point that we both share and you know, we got on a call and it actually, I ended up investing in her company. But that wasn't the intention. Like honestly, I just wanted, I was passionate about what she was talking about and I think if you can relate to someone that you're reaching out to and something specific that you have in common that really helps like overcome the. Oh, they're just, you know, just noise in my, in my world, right? Like, oh, I really want to help them. People want to help. And so, you know, it's like, how do you just even get that 15 minute call?

Oh, I love hearing that. And it makes, took me just to a place of where I'm like, yeah, I, I love to help people who are doing the. Do you know what I mean? Who I know are really doing it and I love what they're doing and they've proven that they're really out there. Like, I actually probably have the Most fun in my life, getting to help those people. So it's also remembering, like, hey, there are parts of life that, like, yes, you want to do your own thing, but also in the. You know, I've accomplished much of what I've ever wanted to do in my life. And I will tell you that sometimes it doesn't even compare to what it feels like to help somebody else with their vision. Like, freaking exciting. Like, it's so much fun.

Oh, it's so exciting, right? Yeah. And it's like you can put yourself back in their shoes and be like, oh, my gosh, I wish someone had told me this back when. Right. And someone would have giving me some advice. So it's really. But I think it's also about having the courage to ask. Like, if you don't a s K, you don't get. So just ask. Right? Like, ask. And it's okay that someone says, no, I don't have time, or they don't reply back, but also have the courage to reach back out. Because I think timing's everything. Right now is actually a perfect time to ask because everyone's sitting at. You know, most people are sitting at home. They have a lot of extra time, and that 15 minutes could make a huge difference. So, you know, I'd start with just like a connection point that you could make with them and then ask for the time.

Okay, I'm going to be doing that. And did you say that on your mirror you put get rejected?

Yes. Get re. I had that for a while. I'm literally going to do it right.

Now because every day I need to make sure that I am making sure. Obviously, the more I get rejected, the more I get an acceptance. So. Or like a, you know, a yes or somebody who's on my vision. So. And I think it's just. It makes it. It just makes it so much easier when you actually point out what you're afraid of. Right. I think so many of us are. We beat around the bush. And, like, honestly, even sharing that with you, like, oh, I don't know how to find a mentor. And I know when I'm saying it, it's like a stupid excuse because I've definitely asked and gotten rejected multiple times, but it's a numbers game. I know this from every other business I've had. So I think it's important that we just face what we're afraid of and be like, okay, that's what I'm afraid of. There it is. Like, everybody's been here before. So, okay, get. Get rejected.

Is it kind of if you're not, like, getting out, if you're not getting rejected, you're not trying hard enough? I mean, in my. Like, you're not going outside of your comfort zone. Like, you actually need someone to tell you no in order to know. Like, oh, I've. It's scary, right? Like, I'm gonna get rejected. But if that's your goal, then maybe it's not as scary as it was.

Oh, my God. Yes.

Mindset, right? Like, my goal is actually to get rejected from you. So if I go in thinking that if you say yes, that's even better.

Yeah. This is helping so much. I actually got rejected yesterday, which was amazing. It really was. Right. Like, the initial email, I had a little fire in my stomach, and then I was like, wait, this is so powerful, because this person actually just revealed to me that they aren't aligned with the vision that I have. And while. While I was like, oh, man, I was really, like, I could see how this would have been a great partnership. I was like, but actually not, because they're not in alignment with. They don't feel that same passion that I do for what this is going to be. And it just became really clear to me, like, how powerful it is also for things to be working in rejection, to be working in your favor. And in that case, I was like, great. This is so awesome. And I also asked, like, and obviously, I know you do this too, but I asked, like, was there a lesson in this for me as well? Like, was there something I could learn from this? What was it that made them not want to be a part of it? Is that something I should worry about?

Ch.

Or, you know, does it help to change it or change the languaging? And all it did was make me re. Like, more firm in my stance of, Nope. Okay, I got rejected, and I still feel this way. But it can shake you in the beginning, right?

Oh, for sure. No, I mean, it takes a lot of time. It never feels good. But to your point, you can learn something from it. So if someone comes in me an investment, I'm like, hey, you're too early. Like, why? Like, why are you not investing in Kim? And, you know, the reasons are. Could be anything. Like, I'm not, you know, investing in space. I don't think your growth numbers show enough promise. I don't, you know, like, what? And that's actually something you could take and learn. Like, okay, well, then what do I need in order for you to invest in me? And it's always an opportunity to go back. Like, just because they say no today doesn't mean they're not gonna. They're gonna say no in, you know, in a year once you already have some more traction under your belt. Right. Just not be a fit from a. Like, timing is everything, and I think that's really important just to remember it's not you. It's maybe the time. It's maybe them. It's maybe their font. I don't know. Like, there's different reasons of why people may not. May reject you or just in their own lives that you can't see. So it's like, there's that great quote. You just don't know what's going on in someone else's life. I mean, I've got four kids, so, like, trying to find time alone. That alone is hard. Right? So just knowing it's just not you. And don't take it personally, just keep moving forward.

Oh, my God. Yes. And you guys follow Kim because, seriously, it's so much fun. You have. You have two sets of twins.

Yes, I have two sets of twins. Oh, my goodness. And I'm a twin, so it's down. Oh, my God.

Okay, so please share some wisdom from twin life, because I feel like that you have much to share.

Yes. I guess my biggest thing growing up and, you know, it's interesting. I talk. You know, I talk about this sometime, is, you know, my sister's so smart, so growing up, she would always get bused off to the talented and gifted program, and I'd, like, sit on the sidewalk and cry and be like, I don't understand. Do I not have gifts and talents? Why can't I go? You know, I was so sad because I was so young, and it's. You know, I go home, my mom was like, kim, comparison. There's that great Eleanor Roosevelt quote, which is. Comparison is a thief of joy. She's like, if you're always trying to compete with your sister, no matter what it is, like, you'll always be bitter. But if you just compete with yourself, you'll always, like, become better. So it's always looking at, like, how do. So I always compete now just with myself, because growing up with a twin, it's very hard not to compete against the person that's with you all the time. And it's just learning what are your unique strengths? And they may not be. I may not get on the talented and gifted bus, but I'm an excellent skier, whatever it is that you're really good at. Right? So it's just knowing that and embracing that as you grow up and embracing your own talents, I think that's, you know, you don't want to be, like, what everyone else is. You want to be different. Like, what makes you different and unique, and embrace that. And I think learning that early on really, you know, really helped me. And I think as I now have two sets of twins, you know, it's the same. It's the same advice that I'll give them. It's just, you know, embrace who you are and don't try to be anybody else.

So, last question. What's the vision that is, like, really exciting you right now? Like, what's pulling you forward? Because I know on the entrepreneurship journey, it can be like, whoa, I kind of have done that thing I thought I wanted to do. And you. You almost need to reset sometimes. I don't know if that was your experience at all. But what's pulling you forward for the vision, for your life?

You know what? I feel so incredibly blessed. And it's like, I think to myself, can it get better than this? Right? And for me, it's going back to my roots. I'm an entrepreneur at heart, so I want, you know, and I just spent 20 years building, you know, very large advertising companies. I'm going back to the basics. I want to go back to my kitchen. I want to start over. I want to start things that are new, and that's why I've launched this side Hustle program with entrepreneur. I really just want to begin again. And, like, you're never too old. You're too. It's never too late. And I love that part. Like, I like the beginning. So I'm excited to start creating from the. From honestly, the beginning, where so many other people are and take, you know, and again, learn from my past experience and skip my own line, really try to, you know, create again. So I'm excited to do that.

Oh, I love that. It really. It really is. Like, and I think that when you take that pressure off of, like, this has to be this, and just say, this is what I do. Like, this is what I love that that really changes the whole perspective of what we're starting. The side hustle, we're starting the big company. We're starting whatever that is. It's like, you got to wake up and do something every day. Why not do the thing that you love and, you know, be able to solve the problems that you actually want? So I.

A hundred percent.

Oh, I love that. Yes, we're doing it. Okay, so how can we find you Follow you Join the side Hustle Accelerator.

Yes.

Follow me at kimparel and take my success test@kimperell.com join the side hustle accelerator. It is awesome. I guarantee it and it will change your life. And I just everything I believe wholeheartedly is in that program. And I just think if you really are really serious about starting something new, overcoming your fears, it's a great opportunity for you to do so.

Thank you guys so much. You guys, you can't learn from somebody better than somebody who's already done what Kim has done. Make sure you go follow and go check that out. We will link everything up in the show notes. Kim, I'm so grateful for you. Thank you for coming on. I know that this probably spurred so many people to finally do the thing that they want to do, so I'm just grateful for you.

Oh my gosh, me too, Lori. And honestly, if you need a mentor, you know who to call.

Well, I'll be calling right after this, so. Kidding. Not kidding at all. So I will say, you guys, if you loved this episode, the biggest gifts that you can give these incredible guests who give us an hour of their time to come on and mentor you for free, is to shout them out and share with your friends what they're doing. So if you would, make sure you tag Kim on Instagram and tag myself and let us know what your biggest takeaway was from Kim and then I will share those stories story. So please, please, please let us know so that we can see what you got from Kim. It's such a gift to be able to see how she was able to help you guys. So until next time, everyone earn your happy.

Bye.

Bye. Thank you guys so much for spending this time with me on the earn your happy podcast. I am so glad that you stopped by. If you could take one second to share this episode with someone you think would love it, that would be absolutely amazing and we would be forever grateful. Also, please leave us a review if you feel so moved by going to itunes and leaving us an honest thought, an honest comment. Tell us what you think, tell us what you want to hear more of it would really help us out on our journey to helping thousands and thousands of people. Until then, don't forget to earn your happy. Thanks again, guys. Bye Bye.