5 Painful Entrepreneurial Lessons Learned

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It’s been one of those weeks…

Looking back, here are the top 5 lessons that I have learned this week:


LESSON #1: 80% = 100%

Please remember this… don’t pack your schedule to the gills.

You can only commit to 80% of your capacity. You must keep the equivalent of 1 business day in a 5 day work week protected from external or existing obligations.

This is what allows you to grow, think, and create… otherwise everything bleeds into everything else. Days bleed into nights. Weeks bleed into weekends. Weekends bleed into vacations. And it just never ends because a burned out entrepreneur is a pretty useless entrepreneur.

When you hit 80% you are maxed out.

80% = 100%


LESSON #2: GROWTH REQUIRES CASH

If you are always “growing” the business, it will eat you alive.

A business has seasons.

Build, Grow, Harvest, Scale… rebuild, restructure, insulate, etc.

Mostly in your own personal growth because the “better” you are the “faster” you grow. When you want the fastest, unfair advantage… invest in yourself. Find a coach or mentor, pick a 90 day goal, and hammer after it.

Just remember, growth requires cash.


LESSON #3: INSULATE

One of the CEOs I mentor decided that his theme for the year would be “Insulate”.
– Insulate himself from operational issues.
– Insulate himself from email deluge.
– Insulate himself from the day to day, so that he can focus on the growth of the business.

This is a good theme to have as it takes a while to do this… it takes a while to made decisions that allow you to insulate yourself.

What is one thing you want to insulate yourself from?


LESSON #4: ELIMINATION IS BETTER THAN OUTSOURCING

Take this one seriously.

A lot of Entrepreneurs and CEOs often come to me and talk to me about leverage. They want to hire a VA, delegate tasks, and setup automations.

I break down various ideas for them… and they don’t do jack squat.

Then, they ask me again, I show them again, and they don’t do anything about it.

This cycle is fascinating AF.

So I have changed my tune now… because I have stopped listening to what needs to be optimized, automated, or outsourced. I am just scouring for what needs to be plain ‘ol eliminated.

Ask yourself this question: What is one thing I can just eliminate from my life?

– This can be people
– This can be priorities
– This can be deadlines
– This can be software
– This can be stuff on your to-do list

Elimination is better than outsourcing.


LESSON #5: HATERS ARE EVERYWHERE

Haters come in different shapes and size

Let’s be real. I get really irritated by haters. I often take their comments personally. I sometimes even lash out but then go back and delete what I wrote. I let it bother me. Then I take it out on my family.

No more. That’s just ridiculous.

Remember this: You don’t need to have a large audience to have haters. Anyone that derails you from you focus, must fall into some form of the “unwelcome” bucket.

Haters to me are just unwelcome people. Unwelcome into my “orbit of care”. That’s all.

Be super vigilant and protect yourself from the haters, both online and offline. Anyone or anything that derails your focus, brings you down, doesn’t support your mission, and doesn’t help you become a better version of yourself, is just plain ‘ol unwelcome.

Here is a great quote:

You will never reach your destination if you stop and throw a stone at every dog that barks.
-Winston Churchill


Let me recap for you:

  1. 80% = 100%
  2. Growth requires cash
  3. Insulate
  4. Elimination is better than outsourcing
  5. Haters are unwelcome

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