50% of businesses fail within the first five years. And while numerous factors contribute to a business’s failure, it’s important to note that an entrepreneur’s mindset can literally make or break his/her business. Life of an entrepreneur – it’s never easy. They have lots of thoughts crawling in their heads.
And even if you’re a smart person and know a lot, that doesn’t mean much if you’re not acting on the information right in front of you. Being attached to who you are now and saying, “that’s how I’ve always been” is a path to nowhere.
In this episode, Adam talks about one core philosophy that has changed his life as an entrepreneur and shares a story about Bill Gates and Warren Buffet that will open your eyes to the power of this idea. Embrace this for a successful 2022.
As a father and entrepreneur with 20 years of professional business experience, Adam is an expert in branding, storytelling, and online sales. After working 10 years at WebMD as Director of Strategic Marketing Adam started his second business, Change Creator, supporting social entrepreneurs with premium branding & high-converting websites, the Change Creator Podcast with 230+ expert interviews, and 30+ editions of Change Creator Magazine reaching over 140+ countries including exclusive interviews from the most impactful entrepreneurs on the planet such as Seth Godin, Arianna Huffington, and Richard Branson.
Throughout this Episode, Adam:
- Shares a Brilliant Yet Inspiring Story About Warren Buffett & Bill Gates
- Why did Warren decline Bill’s $20,000 Offer?
- How does Warren treat every money-making opportunity?
- The moral of the story.
- Adam conveys his Philosophy via the story.
- How did this philosophy change Adam’s life?
- Adam shares that most entrepreneurs kickstart their journey yet quit early.
- How do our small everyday life habits or style shape who we are as an entrepreneur?
- What impact do smaller things have on the big ones?
- How should you apply this philosophy while building your own personal brand?
This brilliant philosophy has literally changed Adam’s life for good. And maybe – what if it’s the only thing that you need know of to help you climb the ladder of success.
Don’t forget to tune in to the “The One Philosophy that will Create Habits of Success for Any Entrepreneur” episode today.
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Episode Transcript (unedited, will likely have typos):
Adam G. Force 0:00
How do social entrepreneurs and small businesses create an authentic brand people love so they can get the edge they need to stand out, create Predictable Revenue and compete against the big guys. That’s what we’re here to discuss. I’m Adam forest, the founder of change creator and this is the authentic brand mastery podcast.
Hey, what’s going on everybody, welcome back to the authentic brand mastery show brought to you by change creator. This is your host, Adam force. And if you missed the last episode, I spoke to my buddy Sean, he runs two different brands, entrepreneurial chef and pastry arts chef. And it’s not, it’s a discussion about, you know, how he built those brands and why pace yard chef became so much more successful, like what the difference was between the two, what worked and really kind of drove the results. So really valuable insights just for any entrepreneur in general, right from that discussion. You don’t need to be in the food space or anything like that. So definitely go back, I’ve got some really great feedback on that discussion, I think you guys will get a lot out of it. So I would definitely go back and check it out if you missed it. And for this episode, I’m going to be just kind of talking about a mantra, or let’s say core philosophy that has been really significant in, you know, my six years change creator
building this brand. And I think it’s going to help you with 2022. So wanted to share a story about Warren Buffett and, and Bill Gates as an example and talk about a few other little insights there. So let’s kind of use this as an opportunity to just kind of shape our perspective and really get our thinking in line for how we set ourselves up and show up in 2022. Our guys, let’s get into it. Okay, show me the heat. On No, you go. Hey, what’s up everybody, I hope you’re all excited about the holidays. So I am coming on here as we reach the New Year.
And you’re we’re always all thinking about what’s next for us? And what am I what are my goals for the next year and all that kind of stuff.
And I want to talk about how we show up in the world, you know, as entrepreneurs, and as we run our businesses, and we help people, you know, so one of the keys that I always consider, which is such an important statement, because it goes for everything, right? That is how you do anything, is how you do everything. Maybe you’ve heard that before, maybe not. It’s kind of become a mantra since I first heard it in how I show up in life. And so let it sink in for a minute. If you haven’t heard that before, how you do anything is how you do everything. And I want to share a quick story that has floated around the internet. Now I read this in a book. And I forget because I read it a while ago what book but I do remember the story. And I may butcher this a little bit, but I’m gonna get the point across okay. It’s actually about Warren Buffett and Bill Gates. Alright, so now they were there. And I’m a golf person, I was actually just hitting golf balls the other day played golf in college and stuff like that.
So, Bill Gates and Warren Buffett were playing golf, and they were on a par three. And if for those that aren’t golf savvy, that just means you should get the ball from the tee box into the hole within three strokes. That’s three times hitting the ball. Now, so that is a shorter hole. And, you know, before Warren Buffett hit the ball, Bill Gates made him an offer. Alright. And he said, Hey, Warren, let’s have a little fun.
If you hit a hole in one, I’ll give you $20,000. That means he’s gonna hit the ball right out of the gate off the tee box and it goes in the hole. Okay, again, so shorter hole. So Warren turned and asked, well, what happens if I miss? And so Bill said, Well, if you miss you pay me $20. So just 20 bucks. Now remember, we’re talking to Warren Buffett here.
Warren said, Well, what are the odds? Bill said how about 1000 to one odds?
Alright, well, Warren immediately said no deal.
He said, these are bad odds. So definitely no deal. Now the chance of
Hitting of me hitting this ball in the hole in just one shot is less than one to 1000. So the, the odds are bad, right?
So Bill laughed and said, Warren, I think you can afford the $20. Right? And you know why reply Byron and reply was actually profound. He said, stupid in small, stupid in big.
Okay, think about that stupid and small, stupid and big. So to a smart guy like Warren Buffett he treats the smallest deals, no different than the biggest deals? Why? Why would he do that? Well, the reason is that the way you do anything is the way you do everything. All right. And that statement right there, as I mentioned, has become a mantra has changed my life, and it can change your life too. Because think about everything you’re doing.
How you do things in your life translates into your business. Are you healthy? Are you organized, are you You know, like I, here’s an example, I’ll come off top my head, it’s such a silly thing to, I used to always leave the last bite of food on my plate and not finish.
I have no idea why. And I did this all time. So it was a, this was common in my work as well. Right? doing enough, but not 100% completing something before moving on.
Right, getting excited in the beginning, building out the idea being this label yourself. I’m an idea guy, I’m a creator, you do all these things. But then you don’t actually finish it, and complete it in a way to see it through, right. So instead of tossing another example, tossing clothing on the chair, or jamming it back in the drawers is a mess, like, you know, I did the laundry, I’m putting just gonna put all this stuff in there. You know, I used to do that too. But now, I fold everything. And I put it away nicely. And I’m more organized in my business than ever before, which is profoundly helpful when you’re really trying to grow if you’re taking your business seriously.
Right. So all the little things we do the little behaviors, the way we show up and do things is going to be consistent throughout the business as well. Right? These are, these are basically like little examples of who you are and how you carry yourself. So you’ve probably heard we have to change the way we do things if we want to get different results in our life.
And these little micro changes, we can call micro changes, you know, eat the last bite on your plate, meaning it’s a metaphor for actually finishing things like seeing it through, right. So, you know, as we change these small things, bigger changes happen on the outputs, we can’t, we can’t actually make more money or help more people or have our business scale, if we’re just going to behave in the same paradigm that we always have, right? It just doesn’t work. That’s not how that’s why everybody always says you have to get uncomfortable to grow. And when we’re building a brand, we’re not just throwing something up and trying to make a couple bucks. We want something that is memorable, it’s trustworthy, you’re building a legacy, honestly, you want something that stands the test of time. So you know, think about
journaling on this topic. I always when I work with clients, I talk about journaling a lot. We taught this in our Captivate course as well.
You know, these areas of reflection, to think on what you’re doing, asking smart questions, translates into everything that we do, you know, what can we do differently to improve? And, you know, is your business being treated as a hobby? How do you treat your business right now? Right? Do you have a professional brand or just something to hold you over? I can’t tell you how many times people have come to me and they said, Well, I put something up on like Wix or whatever it is. And I used a template but at least I have something there. I just wanted to make sure I had some presence online. That’s not showing up in a professional way. That’s not that’s that’s the remember how we do anything is how we do everything. And you have to think about it in a way that when customers find you and they look you up and they learn about you. If we’re not looking good with the first impression and how you are representing yourself and the way that you do things on the front end that they see. What does that say about how you do things on the back end and when they work with you or try your product or service, right. So people will associate that
And so it’s a very, it’s a very limiting approach, like you’re not making the most out of this online real estate, right? And so we don’t want to have this trickle down effect where we’re just doing enough to have a placeholder, right? We’re just kind of like, limping along. You know, this is I call people when they have their websites, you know, forget the idea of a traditional website, right? I try to reinforce this, like it’s online real estate, you can rent some space, you can own space, right? Whether so like WordPress, you’re owning the space. If you’re creating a sales funnel on another software platform like quick funnels, you are renting that space. Both are great. I do like to own it. I do both, right, we do both. And, you know, if you’re, if you’re just throwing something up as a website, you’re not worried about how you show up with people. You’re leaving a lot of money on the table, you’re making a bad first impression, and you’re not earning customer trust, especially when you’re trying to grow a business that stands the test of time, you want a brand that stands out, it competes, it rises above all the noise out there, right. And you know, that is what I call a digital paperweight. It’s just a digital paperweight. And you’re not using the the online real estate to actually earn income in an effective way for you. So now you’re just going to continue hustling to work for your business, instead of your business working for you. Right, we got to really create systems and use these these tools. You know, somebody said, Well, I don’t really need a website. And I always, you know, of course, no, you nobody needs really anything. Right? I could actually cut the lawn with a pair of scissors. And it may take me a long time and a lot of hard work. But I can get by without a lawn mower. I don’t need to spend money on a lawn mower, I have scissors, and I can just go out there and start. Maybe you’ve seen those memes, where the wife’s like, hey, I want to go shopping after you’re done cutting the lawn. So they show the guy like cutting on with the scissors. Because yeah, you’re just you’re never getting it done, right. But I could also do two other things, I could get a lawn mower, right, like a push mower. And that’s going to save me time. So now I’m using this thing people said you don’t need this, you could still get the job done, which was true, I got the scissors. But I could be smarter. And I could use technology to my advantage, right? Good strategy, which is I’m going to get this lawnmower, push it around the yard. And I’m going to do this, I’m going to finish cutting lawn in a fraction of time with half of the effort, right, you just saved yourself more time. So you could spend time doing other things, right. And you’re going to get done faster, as well. So less effort, less time, all good things, especially as busy entrepreneurs. But there’s one other thing you can consider. They actually have bots now that cut the lawn automatically for you just like a Roomba cleans the house. So now you can completely detach, automate the process get the result of cutting the lawn while you do other things. And this is how we think about websites, let’s set them up as a sales system that actually can predictably earn income, generate leads 24/7 while you run the business doing other things, right? You don’t need to actually build it out and do all this stuff yourself. Just like a car. I don’t I don’t create, I don’t build my own car. Why would I do that? I have someone else build the car, set up the systems, I just need to learn how to use it. And that’s it. And we’re rocking and rolling. And it works for me get me from point A to point B, right.
Alright, so you know, remember, as we’re thinking about how we run our businesses, we do things in our life, how we do anything, is how we do everything. So just like Warren Buffett, you know, at, at different scales of how we operate. It’s all related and has a trickle down effect. Okay? So when we’re thinking about how we’re setting up our business, and how we take care of our clients, how we set up systems, how we present ourselves and show up online, we set up our websites, how we do anything is how we do everything. And this is this is just an important lesson to thread through your business and your life all together. Right? Always be thinking about it. And I would I would reflect in journal on this for the for 2022. And, you know, what kind of business do you really want? And how do you want to show up to the world? What are your goals? And are you currently you know, operating in a way that will get you there? Right? So just think about that and do a self assessment of of yourself, like start getting honest and clear about how you function and where you might have areas of improvement and things like that. So You know, think about the things you’re doing in your life and how they relate to your business. Right? Just like some of the examples I gave. Look at Warren Buffett, he says a little offer for $20 cost I’m golf course but he treats it no differently, right? And all these little decisions about your websites and your marketing and your sales funnels, all these things, they’re very important and they should not be treated any differently than how you treat a customer or how you treat your you know, spouse or whatever it is like you you you go in, you do it right, you get it done, you set yourself up. So, you know, these are just things to consider as we reach 2022. And you know, that statement that mantra has been just significant for for me and has changed a lot and the past six years of running change creator. So I thought it would be valuable and I just want to share that story with Warren Buffett and Bill Gates. So yeah, guys, I wish you all the very very, very best for the new year. Enjoy the holidays, spend time with your family, take some time to think about things get honest with yourself do that journaling, I think it will go a long way for you. It always does every time I do a brain dump. I’m like ah man, I needed that. Putting your ideas and thoughts on paper is pretty powerful. So yeah, don’t don’t skip out on it. Don’t skip out. Alright guys, listen, enjoy the holidays and have a really great new year we will pick up the show again this will be the last episode until the new year so the first week of January we’ll get back in the swing of things and until then, yeah, we’ll catch you on the flip side go enjoy some holiday stuff and thanks for tuning into the authentic brand mastery podcast. Don’t forget to stop by change creator calm for more information, fresh articles content and our services if you’re looking to build a brand that people love, and please stop by iTunes us a five star review. We appreciate your support.