Scott Duffy:Destroying Financial Roadblocks And Building The Business Of Your Dreams, S.2 Ep. 60

Good morning everybody. Welcome to what now with Scott duffy presented by events.com thank you so much for joining. It is Tuesday. It has been a big, big morning. I have to share. The way my morning started today was with a call from my 12 year old daughter and what she wanted to share with me was the story in the video from, from Yesterday of the 11 year old kid down in Louisiana that wanted to be like the guys on the Fast and the. And he stole a school bus. The 11 year old. It kind of, it kind of reminded me of Ricky Boggy, Ricky Bobby. If any of you. What was that movie called with Will Ferrell with where he was Ricky Bobby and he was the race car driver. It kind of reminded me of that. The 11 year old kid wants to be like the guys on the Fast and Furious. So he steals a school bus and literally every single policeman in every single police car in the entire area of Louisiana chase this kid until eventually he crashed the bus. And I should probably be more serious about this and I should probably say that's not something you should do and things like that. But I have to tell you it was absolutely hysterical when you, when you watch the video and, and I saw it this morning, I had all these tick tocks from my girls and, and all of that stuff and that was, that was really fun. Good morning to you. Marissa Friedman. Thank you so much for joining. Good to see you as always. And yes, so the movie was Talladega Nights. So Talladega Nights with Will Ferrell. That's what yesterday reminded me of. Yesterday reminded me of this little boy. He wanted to be like the guys on the Fast and Furious. So he stole a school bus and had a chase and There were probably 50 police cars and trucks and everything like that following him through a town until eventually he lost it around an S curve and he ended up going off the road. So anyway, I hope you guys are having an amazing day. We are so busy over here. Tomorrow we kick off the what now, what Next Conference online and I hope you tune in tomorrow to watch and the following day, Thursday as well, the 14th and the 15th. This conference is really all about how to pivot, how to adapt and how to generate cash fast. And what I've done is I pulled together 10 people that I had just, I have so much respect for 10 entrepreneurs, founders, people that were key executives in some of the biggest companies and the biggest brands in the world who specialize in different areas. So whether it is creating a path to fast cash or getting your startup off the ground during COVID 19 or generating and pivoting your brand during this period. You know, taking people who are literally the best of the best at what they do in this area and bringing them on to talk to you. So for example, if we're talking about getting your business going during COVID we're going to talk to my friend Alex Stern, who is the co founder of Constant Contact, one of the biggest companies in the space. We're talking about branding and how to twist your brand during COVID how to build better relationships with your clients and your prospects. We're bringing in Julie Catino, the, the former head of brand for Virgin around the world. Just absolutely incredible. Virgin at the time was the fifth most trusted brand in the world. So we'll bring in Julie. We want to talk about how to create a more viral type of social media interaction. Whether we're doing videos, we're doing boards, how do we really get stuff to and to move organically, how do we do that? So I'm going to bring in Alex Kushner, my buddy. Alex Kushner is the co founder of Icon. He has generated through his videos over six and a half billion views in just over three years. And he's done this with his partner Jay Shetty. Jay, who, when Alex, when Alex started with Jay, had just a few thousand, I think a hundred thousand followers. And today Alex has helped Jay grow to nearly 4,40 million followers across all social media channels. So we are really bringing out people that are the very best, the best of the best at what they do. We're going to do 20 minutes where we do Q and A so I can keep these folks on track and make sure that they're delivering real value tactical stuff you can use. Right. Right away. And then what I'm going to do when that's over is I'm going to bring one of you up. And so if you raise your hand, if you are in our social media, if you have a question that you want to ask, and we're going to do 10 minutes for each person where I you up and I work directly with that person on your business. So share with us where it is that you're at. Where it is that what you know, what the big goal is, where it is you're at, what roadblocks you may be experiencing today so that we can work together to help you get through that. That's 8:30 to 12:30 tomorrow, that's Wednesday and Thursday as well. And just because we didn't want to overlap the messaging, the what now Academy is Going to launch on Monday. So it is all done and it is all ready to go. So the what Now Academy, which is really the thing that I am the most proud of right now, is we are building right now what will become the biggest entrepreneur, community and training platform in the world. We're working with big corporations who are bringing tens of thousands of people into this community to help learn how to build great companies today. And so we'll be able to share that. And we're going to invite you to the what Now Academy starting next week. Tatsu want to say good morning. Thank you so much for joining. By the way, again, I'm using Streamyard. It's been a little bit glitchy for me and so I see a lot of people whose names, whose comments are here, but I can't see your name. So I just want to thank everyone for joining. Today's going to be a really short show and it's going to be short because we're working on tomorrow's event. So I just want to go, typically, I start with the news. I want to go straight to the lesson. I want to go straight to the lesson. And the lesson I want to talk to you guys about today is this. I want to talk to you about getting it over the line. So whatever it is that you're working on, so you may have this incredible passion and in this incredible vision to do something, what you want to do is you want to, you want to go there. And it is the thing that lives inside. It gets you up early in the morning, it keeps you up late at night, is the thing that excites you the most. And so what you do, what you do is you work your butt off towards it. It typically takes longer than planned to get it off the ground. It takes twice as much money as planned to get it off the ground. It's 10 times much harder than planned to get it off the ground.

And at times, what happens is you lose faith. You start to question yourself. You start to question the vision, the strategy, the tactics, the team. Am I doing things right? Am I wasting my time? At that time, a lot of fear may come up. Is this going to fail? If you had a failure in the past, maybe what will happen is you'll ask a question like, you know, if is this going to fail again or is this not going to work again? Something like that could happen.

In technology. I remember when I was a young kid, I was like 24, 25 years old. I was up in the Bay Area and I was working on my First Internet company and I would go in a company was called quote.com. we were the first company to get permission to put the stock quotes on the World Wide Web. And so it was really, you know, it was a thing at the time. Now it's just like one of those things that we take for granted, like opening a web page. So, so what. What happened was I, as the guy who was charging in business development and. And ran sales, would constantly go back to my tech team. And I'd say to my tech team, hey, you know, I push them. I push them like a push, push a salesperson. You know, can we work harder? Can we work longer? Can we work later to get the thing out that I need to go and sell? Can we make some changes to the product? Can we do that? Can we do, like, what can we do to get this thing out faster? And I was constantly going back there asking them for stuff. And then one day, one of the young guys came up to me and he said, we all bought you this and want you to read it. And it was a book. And the book was called the Mythical Man Month. The Mythical Man Month. And it was written by the original, the former, like the first cto, chief technical officer of IBM, the person who oversaw all the tech. And the book was written in the late 60s. And what he did in this book is he described the software development process. And there were a couple things that, in that book always stood out to me. Not just about how to develop software, but how to take a product to market or how to pivot and adapt it and stick with it until it's a success. And the number one thing that I took away from the book is this. The closer that you get to the end of any software development project, the further away you are from the end, because that's when all the bugs come out. So again, the closer you get to the end of any software development project, the further away you actually are from in, because that is when all the bugs come out. Now, why is this important? I'm bringing this up because I like to share with you guys what's going on in my life. And one of the things that's going on in my life is I am in the process of launching an entrepreneur academy. And as part of launching this entrepreneur academy, what I found is every time I think I'm there and I bring people in to test it, and I have people look at the copy and we take a look at the products that we've built, there's something that we find there's something that we find which forces us in the moment to rethink the way we're doing things, to pivot, adapt, because we're listening to the market and maybe adjust. And so that's kind of where we've been. And we've been there for weeks. We've been there for weeks, but we finally pushed it over the edge. The product is done, it's ready to go, go to market, and I can't wait to get it out. And so the question is, how do you stay focused on taking the project over the finish line when you start to doubt and you start to have doubts? Well, the number one thing you need to do is you need to surround yourself with a great team, a great team of people that believe in and buy into the vision as much as you do. That's number one. They always say in Silicon Valley tech business, the VCs would always say that the most important hire that you will ever make in your company is what they would call the first follower. And the first follower is the person that sees your vision and maybe sees you bigger than your vision or bigger than you. A person that is so completely dedicated and passionate about what this thing is that they go out and they evangelize it and they share about it and they tell others about it and they work late about it and all that kind of stuff. And so it's really important that when you have something that you look for, that first follower, that first super passionate person that's going to be there. So it's funny because when you might doubt it, they may see it even stronger. The second thing to get it over the finish line is not to be perfect. So when I say that the further, when you, in a software development project, the further, the closer you are to the, to the end, the further away you actually are because that's all the bugs come out. What I'm not talking about here is perfection. I'm not talking about being perfect. What I'm talking about, what I'm talking about is making the things that have to work work in the right way and making your core messaging and your core products close enough to being in alignment with your target customer. And what it is that they want, the way that they want it, that you can ship it out. I always say with a product, if it works, it's ready to go. 75, 80% of the way there is far enough. See, because the time and the money it will take you and it will cost you to build to the other 20% is not worth it. It's not worth all of the learning that you could get by getting that thing, that product into people's hands. And so again, it's all about number one, that first follower. Number two, it's all about not being perfect. Perfection is the enemy of success. And number three, as soon as you get it out there, the most important thing to do is to forget everything that you thought you knew before you launched so that you can be completely open and receptive to your customers feedback, not take things personally, not think they don't get it. By the way.

I just got this yesterday. So yesterday I was, I was working with somebody on my vip, my VIP coaching programs. And then one of them, what I do is I work with people that are raising capital and I help them to, basically I teach them like top to bottom on the process of raising capital. How many entrepreneurs need that? How many entrepreneurs, like they're great at what they do, but they haven't spent their careers as capital raisers, but they're asking people for money who do it for a living. And so they're at a tremendous disadvantage. So what I do is I give them the roadmap and then what we do is I take them through a process of creating all the things that they need a system for following up and moving a deal, understanding what they need to know, how to handle object, helping them understand what it is they're negotiating for and getting the deal done. And so yesterday I was talking to somebody and mapping all of this out and I kept questioning what he was doing. So we had all this stuff up on the board and tell me what you do. And have you ever talked to an entrepreneur who you say, tell me what you do. And they talk and they talk and they talk and they talk. They never get to it or they go into this long explanation. If I ask you what you do, here's what I want to know. I want to know what is your name, what is your title and what is your company. I want to know what do you do in a sentence. I want to know the market that you serve in a sentence. I want to know how they benefit in a sentence. And I want to know if you're interested in what I have to sell or you know, somebody that is, that's it, 20 seconds, you're in, you're out, you're done. It's super clear. And so what this person said to me is he got really frustrated at my pushing back and he said to me, the problem is you don't get it. And what I said to him is, no, it's not that I don't get it. It's that you can't explain it simply enough. It's not on me, it's on you. And so it's important when you're getting feedback. It's not that they don't get it. It's that they see the problem in a different way that you're trying to solve, or they see the solution in a different way than you're delivering, or they see the solution in a way where it's delivered, where they get what they want the way they want it in a different way than you've presented. Now, a lot of the times people actually don't know something about it until they actually use it. I always say buyers are liars. You give them, you build something awesome. You build something great, totally awesome. It's exactly what they want, exactly the way they wanted. And then nobody shows, then nobody goes to the product, that nobody uses it the way that they said they would. And it's simply because. It's simply because they don't really know until they start to get in there and they start to play with it. I want to say good morning to Aaron Garcia. Good to see you, Aaron. I want to say good morning to Todd Sue. Thank you so much for joining. And again, good morning to Marissa Friedman for joining us today. Hey, tomorrow we are going to kick off the what now what next conference is a half day conference on Wednesday and Thursday. You guys, you can't miss this. This conference is all about how to pivot, how to adapt, and how to monetize and monetize faster. And here's the thing that I found in this space that I found online. It seems that when I go down my feed and I see conferences that people are putting on online, it's like it's a bunch of Internet influencers. It's a bunch of people that I've never heard of, companies I've never heard of. Maybe they had a fad thing that worked once, you know, and now they're trying to make money telling you how to do something that used to work. It's a bunch of that. It's a bunch of people talking about themselves and not.

Giving you what you should do, like giving you value, giving you say, here's the three things we're going to do today. In fact, let's do them right now. Here's the five things you got to do for that thing that you just shared with us, that challenge, that roadblock you have. We're going to do them now. And that's what this conference is all about. It is all about action. It is all about being super strategic, super tactical and giving you step by step steps to help you to, to. To build the kinds of companies that you want to build. So register now for what now. What next? You can go to. You can see it here. Bit Ly Scott Duffy. What now? Again Bitly Scott Duffy. What now? We will see you tomorrow at 8:30. Can't wait to have you join us for tomorrow's event. And you guys have an incredible day. Take care. Bye bye.