A group discusses what actually separates entrepreneurs from salespeople, how risk tolerance shapes different founder types, and why most coaching and consulting businesses fail. They debate whether surrounding yourself with the right team matters more than individual talent.
Put that coffee down.
So what's your opinion, man? Do you think people are born entrepreneurs or do you think they can be cultivated into one?
Well, entrepreneurs are different. Anyone can become a salesperson.
Right.
Anyone can sell because it's a process driven activity. It really is. Like, obviously everyone starts at different levels of ladder and some people's ladder goes higher than others.
Right.
But sales is true. Process driven entrepreneurship is different. Right. So like, and just because you're a good entrepreneur doesn't mean you should run a business. So I'm very entrepreneurial, but I'm also like, I think the, one of the things that I've done well is that I've surrounded myself with people who are not yes men. And I know what I'm bad at. And so I'm like a true entrepreneur. But like, I'm really good at like not being selfish, not hoarding money, spending money on people.
Yeah.
So that I can surround myself with the people who are going to like actually run the business. Because I'm not that good at running a business. I'm good at setting up a business. I'm good at making sure it scales and answering the questions. But the people who are really good at running, like, they're not going to be the ones that will scale it, you know, like, they're different personality types.
Yeah.
And so you got to kind of fall into your lane, I think, and then surround yourself with the right people. So, no, I don't think people can become entrepreneurial. That really is because, like, the risk ratios I think that entrepreneurs are willing to take is very different.
Right.
Like I'm willing to do large risks.
Yeah.
My risk tolerance is extremely high.
Yeah.
Way higher than most. And the. And that has allowed me to grow my business far faster than what most people could because I was willing to do it with basically making no money in the process.
Right.
Having $2,000,000 come in and having 1,999,000 go out.
Yeah.
Right.
Like, yeah, buddy. And seeing that as a great thing. Look how much fucking money I spent. This much.
Right, Right.
But knowing that there's a. Having enough business acumen to be able to know that there's a light at the end of that tunnel. It's all intentional. So that when it's intentional, it's fine. When you just wake up and you have no margin, that's a bad thing.
Yeah.
But yeah. So I think sales. Anyone can be decent at sales or good at sales. Not everyone can be amazing at sales. Entrepreneurship is, I just, I think, a totally different thing. Like where do you think you sit in that? Like, are you just like that real already entrepreneur, or do you think you run somewhere else?
Yeah, that's a good question. You know, we were jamming about that a little bit where it's. There's a lot to entrepreneurship, and I think people really use that word very loosely. Entrepreneur. Oh, I'm an entrepreneur. Well, what's your business? Well, it's me, and I haven't sold anything yet. But I want to, you know, there's, I think, a lot of different definitions of it. Am I a traditional kind of like, you know, operator that's good at, you know, setting up different structures and managing multiple teams and, you know, a lot of spreadsheets and a lot of that kind of like hardcore, you know, gritty entrepreneurial stuff? No, that's not. Definitely not the kind of entrepreneur that I am. I definitely feel like I'm more the creator.
The visionary.
The visionary dancing monkey kind of.
But that's a good place to be. So, like the visionary role, it's very coaching and consulting.
Right.
But in reality, it's basically. Yeah, it's sort of like a chairman.
Right.
So it's the person who is creative for. Is responsible for the overall feel and direction of the business. Right. Like this is. Like this. The business needs to be a reflection of you. And then from that, like, your mission, your vision, your values need to be handed down. The operators are then responsible and accountable for making sure those things are hit.
Yeah.
You know, and so like that. I think it's a. It's a great spot to be. I think most businesses need one. I think the problem with coaching and consulting is that people take the piss out of that and they refuse to put operators in.
Yeah.
And they think that they can run a business at five or six hundred thousand dollars a month.
Right.
And they can just do some wild shit and get away with it.
Yeah.
And I don't think that that doesn't benefit their staff. You know, if you're running, like, we're talking about guys running a 70% margin. Jesus, mate, what are you not doing?
Yeah.
That's terrifying.
Well, it's like. It's like. It's interesting to take a step back, Right. Because like, how many people do you know, Right. That are in the coaching consulting business that this is. They've had, like, two other successful exits. You know, maybe they exited. Maybe they launched a software company. They exited it. Maybe they. They had launched, I don't know, a supplement or a retail thing. They exited it, and now they want to launch a coaching or consulting business. I personally, I mean, I'd have to really think about it, but off the top of it, I don't know any of them. So my, my, my point is, I think most people in this business, this is like kind of their first business is there for. So, so it's not. I mean, it's more of a fake it till you make it hustle. Like, we're figuring it out. We're still young. Let's see how it goes. And, and here's the big thing. They've never seen this anything close to this much amount of money.
Yeah.
And then that pollutes you a little bit.
Put that coffee down. Coffee's for closers only.
