Discover Top Business Tips from Shaquille O'Neal, Amy Porterfield, Hala Taha and more

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Whether you need help coming up with your next business idea, or building your brand, or just getting unstuck, this episode is packed with valuable information you can immediately take action on. This is the Launch youh Business podcast because we know starting a business is challenging, but it doesn't have to be confusing. Each week we'll give you the tactical advice and the necessary tools to scale your business without feeling burnt out. Terry I'm Terry Rice, business development consultant and staff writer here at Entrepreneur Magazine. Let's dive in. People often ask me how they can be a guest on my show or how I pick who to bring on, and the answer is pretty simple. I just think back to when I first started my business and all the challenges that went into it. Then I bring on the people that I wish I could have talked to back then. Maybe it's because they're a subject matter expert who can teach the nuts and bolts of business. Or maybe their story is inspiring and provide a much needed boost of inspiration. But either way, after each episode, you'll gain the insight on how to do at least one thing better. And on today's show, we're going to highlight the top takeaways from some of our previous episodes, so get ready to take notes. You'll hear from Pat Flynn, Amy Porterfield, Hala Taha Ti and other experts as they share the actions, tools, and mindset you need to be successful, however you define it. And make sure you stick around to the end, because I'm going to share how you can be a guest on the podcast as well. But for now, let's get started with Pat Flynn. On episode 25, he discusses the benefits of building your business by immersing yourself within your audience. But for now, let's get started with Pat Flynn. On episode 25, he discussed the benefits of building your business by immersing yourself within your audience.

What comes to mind is how one can understand that they themselves can potentially serve that audience. If you are doing research of an audience, but you're not aware of the fact that you either have the drive to step up to serve this audience or the skill or the ability to find the skill to solve their problems, then this is all for nothing, right? And I think a part of this goes into before you build the audience, you. You become a part of the audience. I do really think that's important. And by becoming a part of that audience, you get to realize, well, how do these people talk? What's language? And that way when you have conversations with them later, when you're trying to help them, you can speak the same language and you can both understand each other. I know a lot of people who build businesses and then they start selling it and they have no idea why things aren't selling, but it's because they're using a language that's completely different than those who are on the. On the beginning end of what it is that they're teaching. Secondly, you get to empathize. And I think empathy is one of the most important things anybody can have, just in general, for relationships, for parenting, for, you know, for business, as an employee, as an employer. I think empathy is so key. And it's almost impossible, if not actually impossible, to empathize with somebody or a group of people who you just met for the first time. I think it's important to ask questions in a way where you can begin to understand what's going through a person's head and not just what, but why and getting into that deeper level of who a person is and or who a group of people is so that when it is time to create content, when it is time to create a product, when it's time to serve them in some way, you're not just using some made up avatar. You're like in the avatar. Exercise is really important, right? His name's, you know, Jim and he's this age and he has this many kids or whatever. Like that's cool because then you can start to determine, okay, well this is who we're creating it for. But why not just find a real person or real people to fill in that role such that when you have questions about, well, I don't know what a person in this space might think, well, I can't go ask made up Jimmy, but I can go ask Don who I had a conversation with last week, who is struggling and I can ask him, well, how would he feel about something like this, which I might create or maybe not. So when you become self aware of the fact that you need to immerse yourself and understand fully your behavior changes and your approach to business changes.

Next up, we have professional creator Quentin Alums who appeared on episode 17. He talks about the lessons he's learned from years of wide ranging entrepreneurship and creative projects.

The bigger your team, that does not mean the more successful you are. You could be pretty successful with one person, you know, like and some contractors or just one person. I thought I needed a big team to appear successful. I was driven by ego.

2.

I would say that there's already people out there that are doing what you want to do, regardless of what it is. There's portions of what they're already doing what you want to do. If you need help with YouTube, if you want to grow on YouTube, there's people out there that are crushing it. Find them. TikTok, LinkedIn, same thing. I'm going to do more than three because they're just off about three systems and processes. Like I avoided them so, so much. But if you have a process, a system, you will go so far, even if it's not perfect, just keep up leveling as you go. But it will help you with hiring, it'll help you with content, it'll help you scale and you don't want to build on a rocky foundation, which is what I did. I did it twice, you know, and I did not learn my lesson. And I think four and then I'll.

Stop there.

Content wise. Like we all, as we're growing our business for the most part. We want this personal brand. We want to build authority. It's so powerful and so nice. But you do not need that to have a successful business. It has helped me tremendously and without it, I would not be able to do anything in business. But I know so many people that are happier because they don't have to. They don't have to report to people, they don't have to create the content. They just have the business. And then when they have the business, they're able to apply that to. To brand. So you don't need it. It is helpful. It is very, very powerful. But I wish I spent more time building my business skills and less time on the creative, which is where I was already really good as I was building my first and second and and their business and now fourth.

Episode 37 featured Anthony Trucks, a transformational identity shift coach. He discussed why it's so important to distance your identity from your output. Now lock in on this one because it's crucial to your success and confidence. I think a lot of listeners can relate to this and they need your help here. At one point after college, you had this gym you were running and that didn't work out too well. And your marriage is on the rocks as well. What would you have said to yourself at your lowest point to pull you.

Out that I would have listened to? I wouldn't listen to nobody, man. I was shooting. What would I have said to myself? It would have had to have been a purse that's gone down my pathway. And that person. Here's the biggest thing. When I got done with football and I was coming out, I think what I needed to have here would have been like, I am not football. I am vastly more. I wrote my book about this concept of a tree fruit of the labor. The football fell off the tree and it rolled somewhere and it died, right? So I felt like that rotting fruit, like, oh, I died this piece of fruit. But I didn't realize that I. And none of us have ever been the fruit. We've always been the tree. And when you don't take care of the tree, all the rest of the fruit dies. So when football died and that was fruit, my marriage fell apart. I wasn't in good shape. Everything, my relationship, my friends were bad. Like I wasn't. Nothing was going right. And I go, it's because I stopped taking care of the tree. You go back to the tree, give it all the nutrients it needs, the sun it needs, put in the right soil, the right environment. All of a sudden, the fruits came back sweeter and more abundant. And so for me, I had to realize, like back in the day, the thing I would have said to Ant is, like Ant, you are not football man. You are the kind of person that created that outcome for your life. So do it somewhere else.

If you're listening to this podcast, you're probably like me, an entrepreneur at heart, a doer with big ideas who wants to make an impact. And while technology is key to making these things happen, Comcast Business understands you probably don't have the time to be a technology specialist. So is it possible a technology partner can free you to focus on what you do best? It is with Comcast Business. They have the largest, fastest reliable network for small businesses, plus an impressive 99.9% network reliability. That's ultra reliable and just what a business needs to stay up and running and ready to succeed. Plus, there's gig speed, WI fi to power you, your employees and all the devices that help get the work done. For cybersecurity, they've got you covered to help protect against attacks. And go ahead, add new employees, open a new location. These solutions can grow as your business grows. It's the tech flexibility you need to expand. With all this, it's no wonder Comcast Business powers more businesses than any other provider, all on the next generation 10G network. So bring your big ideas and even bigger dreams with Comcast Business. It's. It's not just possible, it's happening. Comcast Business powering possibilities. We're gonna keep it rolling here with Amy Porterfield, who appeared on episode 26. She'll discuss the difference between courage and confidence and how you can gather enough courage to make the leap into entrepreneurship.

First, let's talk about the difference between courage and confidence. So I always say that confidence is something that comes when you start to see a track record, when you start putting yourself out there to trying new things online and in the context of building your own business and starting to make some money. And you're like, okay, this is working. Maybe slower than I want, but it's working. So you start to feel a little confident and you keep moving forward. So courage happens when you don't have a track record yet you have no proof this is going to work. You're going to take a leap of faith. You're going to have courage to move forward because you know you want it bad enough. And so we all have to start with courage over confidence, because courage will absolutely be there before confidence ever will. So that's the first distinction that I want people to be aware of. And then also these golden handcuffs. Ooh, they are. They are very deceiving, for sure. And I could likely say that I had them for a while. I started thinking about starting my own business at least a good year before I actually took the leap. But first of all, I got to work with Tony Robbins. He's amazing. It was an amazing experience. I got to travel the world and work on the content that he did on stage. Like, it was really cool. And I got paid well and treated well. And so because of all of that, I. I could absolutely say, look, I want more freedom. I hit the glass ceiling. And I don't like that. I never see my husband because I'm always on the road, but I get paid well, and this is the kind of good job. So you have to start asking yourself, what ultimately do you want? And you have to get really honest with yourself. No matter how much money you're making, no matter how much security you're feeling, what do you ultimately want? And is that 9 to 5 job going to allow you to have the lifestyle that you truly want?

And.

And usually the answer is if you're thinking of this, dancers, usually no.

If you're a public speaker, you must listen to our episode with Ashley Kirkwood, who came on for episode 29. She teaches you how to create, pitch and price your talks, but you may not be able to do it all on your own. So in this clip, she highlights what you really need to know about leading a team. As a hint, it's not about you as the leader.

I wish I learned earlier that your team is not there to make you money. You are there to work for your team. So that is the lesson I wish I would have learned earlier. I think I originally saw, like, team members as, like, this thing that I needed in order to grow versus looking at my team as my responsibility, as a part of, like, my greater calling and mission. And I work for my team. Like, I try to become a better person for my team. I want to encourage and help my team grow like they are everything to this business. And I wish I would have known that earlier, because I would have hired earlier. I would have cultivated them earlier. I would have. You know, we have a different team now than we had in the very beginning. One thing I'm really proud of, though, is that my first ever hire still does contract work for us whenever we need it. So thankfully, I was. I wasn't. No, not my husband.

Okay.

Just making sure he actually required me to Get a few hires under my belt before he would even say yes. So not my husband. But we have been, you know, really blessed to work with some incredible team members. I've grown this business. I had a law firm that was run by really great lawyers. And I just would have started reading personal development books even earlier at the same time as I was reading sales and marketing books. Because all of it really matters. And once your business does, once you're running a business over the seven figure market, at least for me, that was the biggest change, was it went from me getting all this knowledge about sales and marketing, which I still get some. I still still invest in that. But it became a lot more about how do I motivate them to sell more, how do I teach them to market more, how do I make sure they're growing and developing and I'm the leader that they.

Coming up, we have Tanner chidester from episode 30. And I got a lot of feedback about this episode. You're about to understand why as he gives a blunt perspective shift on truly difficult jobs and how you can be more grateful.

Well, it's just like people want the benefits of a business, but they don't actually want a business. So people will say, I want a business that does this, this, this, this, this, this, and this. And it's like, great. What skills do you have? None. What team do you have? None. What money do you have? None of the. What are you willing to do? Not much. And so for me, people forget I did door to door sales for eight months, six days a week, 12 hours a day. I got one day off. And it was the worst experience of my entire life. I can't even. I've told people doing that was harder than building a $20 million per year business. Like it was. It was so hard. And so when I was able to start making sales just using my phone and just, just DM me, you know, just talking to people, yeah, it wasn't like fun. I'm not sitting here like, oh my gosh, it's amazing. But I was making 10 times more just sitting on the couch. And before I was sweating all day. I mean, I would like chafe on my legs. I have guns pulled on me, knives. So I just think people, they don't really understand what it takes to be successful. And then for most, I thought that's easier. So the comment comes from a place of man, there's so many other things you could go do and make so much less that are so much harder in terms of just work and effort. And all you have to do is send a DM and you won't do it because they'll say, well, I'm scared to, or I don't want to, or I'm too busy. And so a lot of my comments just come from, you know, people say they want certain things, but they're not really willing to do anything. And so when they say that, I just kind of roll my eyes and laugh like, you know, you should have a job. Like entrepreneurship is not for you. And it's tough. Like even staying on top is tough. Like I've been in the game five years now and I'm just looking at people who've been in the game 2034. I'm like, my respect level just goes up every year because getting to the top is one thing and then staying on top, it's a whole nother thing. Like you got to consistently just keep innovating and hiring high talent and it's just tough. So I guess it just comes from more frustrations, those comments, because people just don't understand what it actually takes. They don't get it.

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Don't let other people's opinion of your vision impact your decision to to execute that vision. Your vision is yours for a reason. My vision is mine for a reason. Usually the first thing we do when we get a vision is we take it to the people around us and say, hey, look, this is what I had an idea doing. And they're probably because of their fears, their failures, because they don't believe that they could do it because it's not their vision. They would say, nah, man, why would you do that? Nah, that ain't gonna work. That'll never happen. And then we probably start second guessing ourselves. Well, maybe, maybe I was tripping. And then we don't proceed to bring the vision to life. That was probably one of the greatest mistakes I've made, letting other people talk me out of what my vision was. Because when you see it a year later or two years later, other people are doing it. You're like, damn, I was there first. I lit. And you can't blame nobody but yourself.

Next up, we have Alex Schlinsky, who appeared on episode 33 and and shared why financial freedom isn't the only thing you should be pursuing the anti Hustle model inherently is all about identifying what the true goal of entrepreneurship is. And to me, pretty much every single person that I speak to, everyone wants.

To be happy and they want to be free.

The thing is with freedom is most people posit freedom as financial freedom and time freedom.

And yet so often time is just.

Thrown aside, cast aside for the benefit of financial freedom, financial freedom, financial freedom, without ever defining what even financial freedom was, and worse, never taking the time to define it and allowing someone else to define it for you, some other pillar in your community, someone other person that you respect, some mentor you have, some book that you read because you never do the deep work to identify, well, what is my version of success? What is my version of time freedom? What is my version of financial freedom? And so instead you'll listen to someone else tell you what that is. So the anti hustle model is all about identifying for you, very specifically, what time and financial freedom means, what success really means, what happiness really means, and.

Doing that deep work so you can.

Build the formula to your ideal and dream life instead of allowing me or anyone else to decide it for you. If you're just getting started as an entrepreneur or a creator, our next guest will show you how to use that to your advantage. During episode 40, Hala Taha shared how showing your process, even if it's only rudimentary, can rally an audience around you and grow your brand.

My podcast actually blew up two years into my podcast is when I really became like a mainstream podcast and started monetizing and getting sponsorships and ranking on the charts and things like that. But I was known for my podcast on LinkedIn, and everybody was watching my micro content and my audiograms at the time and things like that. And people knew me as the number one podcaster. So I think what made me magnetic is because I was sort of the underdog. And I was on LinkedIn, like, in my, like, mom's basement, recording podcasts and getting my fans one by one. And actually people, super fans who were really, really into the show would reach out to me and ask me if they could help me. And so what happened was, is that I had 20 volunteers for two years who worked for free for me to grow the show. And so I would teach them everything. I would teach them how to audio edit, I would teach them how to video edit, I would teach them how to make the graphics, how to post for me on social media, how to you create all the different content that goes along with the podcast. And as a result, I had 20 superfans and core team members that were spreading the word about young and profiting podcasts. And I have to say, like, to answer your exact question, I just think that it was magnetic and I was just trying to be of service. And because my goal actually wasn't to monetize the show, I literally would tell people that it's impossible to create a business out of podcasts. And now I literally have a business from my podcast. And for two years I was like, podcasting is just to be of service. It's just a network work. You're never going to make money off your podcast. I used to say that because I truly believed it. And I think people really like the fact that I was just trying to be of service and provide value and not trying to monetize anything. And I think that really made the brand magnetic.

I love the, the grassroots support that you got for building your podcast because so many people want to have a big brand, they want to have a bunch of downloads and all this stuff. But just seeing behind the scenes what had to happen, you know, for you to get where you are, I think is very beneficial. Last but not least, we have Craig Siegel, who came on for episode 41. Listen as he provides an interesting perspective on failure and why it can be a good thing.

There's nothing that can really substitute from life experience. So full disclosure, spoiler alert. Entrepreneurship, or anything in the world really worth creating is going to be challenging. Specifically in the beginning, I don't think you can replace that season of Grind where you're really working and now hopefully you love it. So it doesn't really feel like work for me, for example. But ultimately you're going to learn from Mrs. And there's such thing as a good miss and a bad miss. And as long as you're having good Mrs. And you're learning and you're figuring out what doesn't work so you could reapply to what should work and so forth, and you surround yourself with the right people, specifically the people that are a little bit further ahead than you. Not better, but further ahead. Because that's how you learn. Mentorship, coaches and stuff like that. It's all a part of the process.

So many great takeaways from past episodes and I'm looking forward to sharing more with you. But look, don't just listen, take action. Without implementation, information just becomes entertainment. And I know I tell my fair share of dad jokes, but I want to do more than just entertain you. So here's what I want you to do. Revisit our previous episodes and take notes on how you can apply what you've learned to level up your business or or personal life. Then put in the work to make it happen. And if you'd like my help applying what you've learned, I have an exclusive opportunity for you. I'm going to start bringing on listeners just like you on the show so I can provide you with real time coaching and support. And here's how to make it happen. Start by leaving a review on your favorite podcast platform and share at least one thing you learned from a previous episode. Then share that review as an Instagram story and tag me Teryrice as well as Entrepreneur Magazine using the handlentrepreneur. I'll then reshare your story and you'll be automatically entered for a chance to appear on the show. And look, I'm going to test this out with a few people, but my plan is to make it an ongoing thing. So leave that review and share today because I'm picking one of you this week. Again, just tag me. Stick. Terry Rice and Entrepreneur. Thanks again for listening and I'm looking forward to chatting with you soon. Apply what you've learned on today's show. You'll find the show notes and more resources at TerryRice Co podcast. Again, that's Terryrice Co Podcast and the best way to support this podcast is by subscribing, telling a friend and leaving a review. Also, you can get more tips by following me on Instagram at it terryrice or follow me on LinkedIn. This episode was produced by Josh Wilcox of Brooklyn Podcasting Studio and edited by Dan Lardy. Special thanks to my wife, Dominique, for keeping our kids relatively quiet as I recorded. Thanks again for listening. I'll see you next time.