Alright, I just want to share an interesting phenomenon that appears to be relatively common.
And that is that an entrepreneur begins the entrepreneurial journey with a dream.
And that dream is that they will be a leader of their business, that their business will be profitable that it will bring great rewards both in the actual experience of being an entrepreneur as well as financial.
And yet the actual experience of this is typically not so great.
I believe the stats are around an 80% failure rate.
At five years, it could even be worse than that.
So clearly, the game is not as easy as it seems.
Looking on from the outside, you might think, Oh, well I could do that I can do How hard could it be.
And yet, you may find yourself in the event of having actually successfully made the jump from zero to a million in revenue.
And now it's like, okay, that took a lot out of me, the hustle, the drive, early mornings, the late nights, the running of the team, the learning, marketing and sales, the filming experience, like it is a difficult game.
And it can be done just with pure hustle from zero to one.
And I had a great call this morning with a friend of mine, Joey at a Group Marketer.
And we were discussing going from one to 10 He was like, Tom, you know what you can hustle from 123, you can get to 3 million just on straight grit, straight hardcore efforts, wake early, go to bed light at night, but it is stressful.
And if you add in the complicating factors of children of the marriage, then it definitely becomes extremely difficult, let alone if you've got external factors like say, for instance, COVID-19, absolutely disrupting the entire world.
I was joking around the essence, it's been like a giant roulette wheel in the sky, and it got spun in either it was like boom, yes.
COVID-19 has been awesome.
Like, don't forget, some businesses have gone ballistically Well, during this period of time, and then the second one, it's like, don't you lose out if you happen to be in the airline industry as the obvious choice here.
But this roulette wheel in the sky was just another factor on top of the already difficult entrepreneurial game.
So let's say that you did in fact, make it through to that $1 million mark.
And perhaps you've got a couple of teams, but you're noticing that things are slipping, like particularly if things are going well, then you might not worry about some of these things being lost.
But let's say that you let a deal go, then that could be worth 300 $500,000.
And you're like, well, there's four more after that there's plenty of work.
The analogy is a whole lot like a single guy on Tinder.
And if he's got 19 or 25 women on the app, it doesn't really matter because He can act quite poorly and get away with it.
If you've only got one Tinder date, then I bet the behavior is different from them.
But if there are lots of deals, and there's lots of money, perhaps that experiences well, it doesn't really matter.
But that is not a mindset that will scale to get to 10.
Like if you're trying to get to 10 million in revenue, those deals that you're letting slip by are actually key stepping stones.
And usually, that's because the systems and processes are just not on point, the hustler, the guy that can hustle all the way through, or the girl that can hustle to 1 million actually need some higher-level management.
Like you can't get rid of that drive and that, oh my goodness, if I don't find another 10 or another 20 or another 50 really soon we are going under, but that leaving on the edge of destruction and disaster and finding the capacity to actually pull through and make it happen.
In the long term.
It's not going to work.
And there may well be an experience that if that guy that hustler tries to scale a business, then they're going to run into serious problems.
And that's where the stress comes in.
And even then, it seemed like in our discussions at least today Joey's like looking not going to get past 3 million.
It's virtually impossible to go beyond 3 million.
If you are struggling as a hustler you actually need a different mindset.
And that entrepreneur mindset is really the dream that many of us came with.
It's like okay, I want to be the visionary.
I want to see this idea come to fruition and be able to put the idea out to my team, my team makes it happen.
And I can sit there and go, yep.
Okay, that's happening.
It's a whole lot like that Captain Kirk experience.
If you imagine Captain Kirk, he's not down in the engine room feeding the plutonium into the engine.
He's not down in the medic bay, dealing with the broken arm.
He's not dealing with all of the burning problems.
He's making the decisions.
And every now and then there is something that is so important that he's called to deal with that.
But day to day, he's making decisions off what's happening at that bridge level.
And that's really what I see as the entrepreneurial dream.
And that is going to require your teams to have systems and processes on point.
Look at this is something that you're struggling with it you're at that level where you've either got five-plus team members, or you're doing a million-plus in revenue, and you're like, oh my goodness, I know that I need to have this stuff on the point that I invite you to head over to System IO dot Dev, pop in your name, pop in your email address there and go through the training that's available for you.
Alright, thanks for tuning in.
Look forward to seeing you on another episode as we continue this exploration of letting go of the hustler having him in the back pocket he's still going to be needed, but bringing online your entrepreneur.
See you then.
