Name: Company of Young Professionals – Zero to 100, startup lessons from Vancouver Founders with Futurepreneur
Presenters: Michael Steele, Kathryn Loewen, Gamelle Fitzgibbon, and Keith Ippel
Many young leaders have great idea for business, but they do not have any idea on how to get started. Company of Young Professionals invites the seasoned entrepreneurs panel from Greater Vancouver to discuss their experience and journey on how they get their big ideas off the ground. The panel will share their mistakes and obstacles from their entrepreneurship. In addition, young leaders will discover the importance of mindset and the key elements of igniting their business idea into reality. The presentation will follow a workshop by Keith Ippel, Co-Founder of Spring.
The seasoned entrepreneurs panel includes Michael Steele, the Co-Founder of The Good Stuff, Kathryn Loewen, the Founder and CEO of Control, and Gamelle Fitzgibbon, the Managing Director of Bespoke Spanish. All panelists went through the program from Futurpreneur, a non-profit organization that helps mentoring young leaders into successful entrepreneurs. This panel is moderated by Natasha Jung, the Co-Founder of Cold Tea Collective.
Interviewing the panel
Jung asks all the panelists to define the meaning of the word “entrepreneur”. Fitzgibbon defines it as “taking risks”. She believes entrepreneur is a way to find out what people are good at. She loves service and she loves helping people; in fact, the path of entrepreneurship creates a self-discover process for Fitzgibbon. For Loewen, her background of technology created her passion and allowed her to enter the employment in technology sector. Later, she left due to less employment. While trying to figure out where she could go next, her only option is to enter the world of entrepreneurship. Steele defines it as a way to see the problem in the world and think about solution. True entrepreneurs will not stop. They will do something about it. The idea of entrepreneurship fits his needs.
During their startup launch, all panelists have their hard times. Fitzgibbon states the hardest part is she put a huge amount of emails and coffees she had to make to create connections, but nothing happened until a year later. In fact, entrepreneurs usually plant seeds, but these seeds will not grow until later down the road. Many young entrepreneurs do not have the patient to wait, and they do not realize people will come eventually. When they are at the dead end, they do not know where to finish.
In the technology sector, Loewen shares all businesses have projection and strategy in place. In her first year of business, she took no salary. She only focused on generating revenue and raising capital. What kept her moving forward was creating the opportunity to pitch like what it showed in Dragon’s Den. When success comes, Loewen suggests young leaders to keep the lights on as much as they can. In Loewen’s perspective, every day is a success.
Steele shares that many people think startup is simple as a whiteboard. In reality, it is more than they see on the whiteboard. Entrepreneurs need to learn all kinds of operating functions in order to run the business.
There are times when things are not as plan in business. Fitzgibbon believes momentum is the key when business feel like death. Loewen wants young leaders to imagine when they need to feed their employees when there is nothing coming in. The reality is that business is never the same as what textbook describes. In technology sector, sometimes investors demand business to burn capital because they are looking for huge profit return at the end. Steele emphasizes sometimes finance does not track success, especially when business is struggling.
Word of mouth is the best marketing for startups. Loewen suggests young leaders to use freemium as much as they can. There are some great tools for startups. Mailchimp is a great start for building a mailing list for startups. Another tool is called Slack, and it helps young leaders to look for user behaviors and engagement.
It is important to surround with supporters. Young leaders need to ask themselves who they hang around with. Time is limited and it is important to create their own circle and vibe. Fitzgibbon believes everyone has the option to choose their inner circle. For young leaders who would like to learn more about entrepreneurship, Steele recommends them to find another startup to work with. This will give them the opportunity to learn the necessary skills from watching other successful entrepreneurs.
All panelists have gone through the program from Futurepreneur. Loewen had the fortune to access to a group of supports and mentors. She advices young leaders to take actions and embrace the support from family. Steele recommends the program for young leaders because it allows them to seek supports from business obstacles. Fitzgibbon senses the program allows young leaders to take fresh idea and turn it to clarity. It is great to get direction and introduction from people who have similar mindset. In fact, options are available for young leaders and it is up to them to take advantage from it.
“Strength of community is still strong and existed”
Workshop with Spring Activator
Spring is a startup school for social entrepreneurs. Keith Ippel is the Co-Founder and CEO of Spring. He summarizes 3 major keys from the panel.
Able to find the right support group
Being strong as generalist
Adaptability is important
Ippel wants young leaders to think about the best place to receive support. He invites the audience to pair up and discuss their ideas. Afterwards, he wants everyone to narrow down one question: “if you can get help with one thing, what would it be?”. This question looks simple, but it is difficult to execute. It helps young leader to discover what is the most important task they are searching in business. Ippel also shares 4 tips to networking.
Talk to 3 new people
Ask how can I help you
Connect on LinkedIn or other social media platforms
Name: SociaLIGHT Conference 2015 – The Ultimate Leadership and Entrepreneurship Event
Presenters: Various
Inside of every entrepreneur’s heart, there is a movement of a dream to empower or inspire others. Moreover, the ability to give or contribute is the nature of any entrepreneurs. Theresa Laurico, the Founder of SociaLIGHT, presents the annual conference to inspire entrepreneurs to take actions. This is a space for entrepreneurs to seek possibility. The conference invites many extraordinary leaders in the community to discuss their experience. These leaders are Jack Lee, the Co-Founder of T&T Supermarket, Farhan Mohamed, the Partner of Vancity Buzz, Wilson Lee, the Founder of Wun2free, Dan Lok, the Serial Entrepreneur, Alano Edzerza, the Tahitan Multimedia Artist, Melissa Orozco, the Founder of YuluPR, Jason Butcher, the Founder of Kickstart Business Catalyst, James Coleridge, the Founder of Bella Gelateria, Steve Curtis, the Founder of Zag Group, and Jairek Robbins, the Lifestyle Entrepreneur.
The presentation will also include a panel discussion. The panelists are Ray Walia, the CEO of Launch Academy, Keith Ippel, the Co-Founder of Spring, Vicki Saunders, the Founder of SheEO, Jill Earthy, the Director of Futurpreneur, and Alphil Guilaran, the Co-Founder of Financial Literacy Counsel. Entrepreneurs will gain insights from all leaders to enhance their business and personal lives. The theme of this conference is “Ignite” and the values behind this conference is “People”, “Planet”, “Profit”, and “Perspective”.
Legacy Entrepreneurship
Jack Lee, the Co-Founder of T&T Supermarket, believes in connection. Lee inspires a Taiwanese published writer, Louis Lee, because of similar attitude. She used her instinct and intelligence to prove his writing skills in Canada. Often many entrepreneurs will discover the limitation from their obstacles and challenges, and yet the ones that make it through will be remembered in the history.
Jack Lee shares his story of his first import business in Canada. In 1980, his import business was facing cash flow issues due to Canada and United State currency exchange. He could not control the international market, and could not make both ends meet. Business had taken Lee’s family time away from him and it was time to find the exit strategy. Lee was forced to find an alternative way to keep his passion, so instead of exit the market, he downsized the warehouse and save overhead costs. By reallocating to his basement, he was able to reduce the market exchange rate risk and kept a slim profit to survive. After 3 years of struggling, Lee was able to turn around his business.
Lee believed there must be something he could do to reduce the overhead cost. To reach new customer needs, he forced himself to lower his status and educate the foundation from the local environment. He realized there was a demand for pork stomach in the Cantonese market in Canada. He found a slaughterhouse to supply his food and sell it for 4 times more. Afterwards, Lee expanded the number of suppliers to increase profitability.
Lee emphasizes the secret of his success is to think big. Many new immigrants want to work in their circle of culture. Lee needs to think big, so he creates join venture with international food and bring the international culture to Canada. Furthermore, T&T supermarket is born.
Lee decides to change his vision to take care of his grandchildren and contribute his skills back to the community.
“In every business, there is a special customer needs, which is innovation”
The Story of the Largest Digital-only Publication in Western Canada
Farhan Mohamed, the Partner of Vancity Buzz, shares his dream and passion of his entrepreneurship. After he decided to quit university, he took on the opportunity to do something he loved. However, the failure of his first campaign led him to the right direction. He returned to college with a new set of passion and approached the opportunity to work for Vancouver Sun. Mohamed has the goal of working with social media. One day, he met the co-Founder of Vancity Buzz and believed the company will fulfill his dream.
Mohamed believes when there is passion, entrepreneur will stay up late at night until things get done. Vancity Buzz is a small business, but he believes magic will happen. Vancity Buzz helps Mohamed to take the initial vision into reality. The company has expanded the operation and they are taking their vision into something bigger.
Mohamed indicates there are 7 ways to ignite the life of entrepreneurs
Ignite #1: Do not be afraid to stand out
Mohamed believes whatever entrepreneurs are doing will make them different. No one will hand it to them for free. They need to discover the story that they are not telling and have the confident to share it to the world.
Ignite #2: Do not underestimate the power of online relationship
Social media is the new communication network for this generation. Many people are utilizing the tool to connect with people around the world. Mohamed wants entrepreneurs to use the tool to build meaningful relationship.
Ignite #3: The path might not be the right one
Entrepreneurs should have the courage to change his path. Many people are scared to change. Moreover, change can lead to new adventure.
Ignite #4: Do not be afraid to fail
Mohamed believes when entrepreneurs are not failing 50% of the time, they are not trying hard enough. Failure is a proof that they tried and failure will lead to success.
Ignite #5: When entrepreneurs want something, they go after it
If entrepreneurs want something, they will go for it. They will not procrastinate because they know that no one will give them the key to the door.
Ignite #6: Believe in the work they do
There are times when entrepreneurs are facing alone. They should have the right and positive mindset to believe in their work. When they believe themselves, they will impact others.
Ignite 7: Everything entrepreneurs do matters
Every conversation matters. Entrepreneurs should always nurture and build every relationship.
It is all a Game
Wilson Lee, the Founder of Wun2free, has the opportunity to change his game. He believes his success comes from a simple message, which is “take actions”.
Lee started his career when he was 16 years old. After pursuing Psychology degree, he learned how people think. He got tired of working in the corporation because he had the burning desire in business. He realizes there is no entertainment section in the Richmond Night Market, so he took actions to pitch his business plan to them. He also took actions to find the right suppliers. To execute his business plan, he maxed out 3 credit cards and 2 lines of credits.
The hard work paid off for Lee. He continued his success on to PNE. Furthermore, he is now creating the first ever Vancouver Winter Wonderland that brings the winter festival indoor.
Lee reflects his journey and believes he had a couple of moments of doubting his execution. He admits he fears he might fail his team and has no energy to go for that extra step. However, by taking actions, he manages to break his limitation and become what he is today.
“When are you taking action?”
7 Lessons Dan Lok Learned on Building a 10 Million Dollar Empire
Dan Lok, the Serial entrepreneur, shares his childhood story. During his childhood, he faced isolation from his classmates. After his parents got divorce, he moved to Canada. Growing up with no confidence, he had hard time meeting people in Canada. He dropped out of college and got involved with business. After many failures, he got stronger. Lok believes his childhood is the reason that makes him stronger. Lok believes adversity is the advantage. When entrepreneurs receive pain, there will be breakdown, but after breakdown, entrepreneurs will get stronger.
“My dysfunctional childhood is the reason I am a functional adult”
Lok shares 7 lessons he learned to become a serial entrepreneur
Lesson #1: Develop the muscle to fight pain
Lok emphasizes the game of business is not for the weak. He is playing the most competitive game on earth, which is business. Game of business comes in different forms. When entrepreneurs are not ready, they should sharp up their skills.
People believe if the do what they love, the money will come. Lok disagrees with that statement. Lok believes it is important to make sure the passion is unique and add value to other people’s lives. When entrepreneurs add value to others with their passion, then money will come.
Lesson #2: Love what you do, and be good at it; make sure you pay for it
It is important for entrepreneurs to master their skills. Entrepreneurs are in business to make money, so they need to ensure people are paying their services.
Lesson #3: Save yourself before save the world
Lok stats the best way to help the poor is not be one of them. This means entrepreneurs should have the ability to make money before contributing. Sometimes in business entrepreneurs need to be jealous to become generous. Entrepreneurs need to be what they want to be.
Money earn is by product and creation. Lok emphasizes the only way to make money is to create impact and add values to others. Therefore, entrepreneurs need to understand that making money is a gift.
Lesson #4: Promotion over creation
Most entrepreneurs take too much time on creation. They fail because there is no attention from their market. Lok wants entrepreneurs to generate enough attention of awareness to show them they are dominating the market.
Consumers only remember the top 2 to 3 products in the market. It is entrepreneurs’ obligation to promote their products all the time. There are a lot of noises in the market place and entrepreneurs need to get their attention.
“Money follows attention; attention is the new currency”
Lesson #5: Stop pretending and start asking
When people have the habit of saying they are “fine”, it really means they are “Freak out”, “In debt”, “Not making enough money” and “Emotionally stressed out”. There are only 15% of entrepreneurs will ask questions for help.
Lok shows there are two ways to create negative connections when entrepreneurs network. The first way is to when entrepreneurs approach with a sale pitch. The second way is they ask the wrong questions. Lok wants entrepreneurs to play the contribution game and start building their future bank account.
Lesson #6: Master, do not dabble
Most people have the shiny object syndrome. They go after too many things at once. Entrepreneurs should master one thing at a time, and continue one after another. It is not wise to jump all over the place. Therefore, entrepreneurs should build their skills on top of another.
It is important to get feedbacks. Feedbacks can change entrepreneurs’ approach. The changes will help them approach their skills easier and faster. Lok stats that people always start bad, so entrepreneurs should not be worry about it.
Lesson #7: Do not have to get it right, you just have to get it going
Lok thinks many people in this society are having too much mentally masturbation. Perfection is the enemy of progress and making progress is the key. Lok believes if entrepreneurs are not embarrassed by their first version of their products, it is too late.
Lok suggests all entrepreneurs to always promote and give, ignite the fire within, and make things happen.
BC’s Trail Blazing First Nations Artist and Entrepreneur
Alano Edzerza, the Tahitan Multimedia Artist, believes the best way to connect the world is through art. Art is a way to tell the story of the great west to the world. The story brings the art to BC.
Edzerza indicates it is not easy for entrepreneurs to create their own paths. They must stay positive and creative. It is important to ensure they have the childhood creativity. Childhood creativity is a nature skill that brings out the essence of people’s passions.
By sharing the heritage to the world, entrepreneurs will be able to inspire, continue and create. Art can help entrepreneurs to create greater movement, which can regrow their religion. Edzerza wants entrepreneurs to engage online and share because by sharing, it will break down the stereotype.
It takes hard work to succeed in art. Journey is slow, but it can be educational. The more positive people entrepreneurs surround the better success they will be. The opportunity to grow in the community is available more than ever, so entrepreneurs should reach out to educate others, not working alone, and support progress. Uplift the people around them and inspire with movement.
“As tide rises, we help each other”
Dream Building, Movement Leadership and Triple Bottom Line
Theresa Laurico, the Founder of SociaLIGHT, understands powerful questions can lead to self-discovery. The question Laurico wants to ask entrepreneurs is “what are you going to do if you fail?”
Coming from Toronto, Laurico wanted to be a doctor when she was a child. However, she had strong passion to be on television. Laurico decided to take courses in journalism. After reading Tony Robbins’ book, she had the crazy idea of mixing TED talks, MTV and Oprah.
Laurico loved working in media conversation. By the age of 28, she asked herself an important question.
“Is what I work up doing everything worth it?”
Laurico took the initiative to submit the crazy idea to CityTV, but she got rejected. The failure led her to decide her career path of business. By applying the systemic leadership, Laurico discovered business needs triple bottom line to impact the world. Laurico decided to launch SociaLIGHT.
The first conference was in Toronto and there were 1000 people showed up. Richard Branson opened up the conference and the momentum was created to move humanity forward. On the launch day, Laurico received the news of family member passed away. She choose family, but the emotion stayed with her. The meaning of conference changed her life.
Laurico involved with “One Act” conference to help a girl to celebrate her graduation. She realized her formula of success.
Taking something you love + Taking something you hate = Love in action
As human beings, they should not forget who they are. Great presenters will treat the audience like they are the only one in the room. Entrepreneurs is likethe Rubik’s cube because they will not always know what they are doing, but the goal is always the same.
“Love what you do, if not, keep searching”
“What are you lying about? Stop lying to yourself”
Laurico believes in power of mindset. The answer is always at mind and heart, but people always look away. It is not easy to build the dream, but Laurico believes with the mindset of ask, believe and receive, anything is possible. Laurico suggests entrepreneurs to start sharing ideas and help people build sustainability.
“If you want to make a billion dollars, you need to help a billion people first”
Business can drive social solutions and conversations are the network. With the right heart set, mindset and habits, entrepreneurs can build their vision and imprint the message to the society.
Laurico trusts the universe will show when time comes.
Growth, Scale, Innovation and Money
This panel presentation is moderated by Andrew Dilts, Lawyer of MacPherson Lesile & Tyeman LLP.
For startup, Alphil Guilaran wants entrepreneurs to be prepared to do everything. Jill Earthy expects entrepreneurs to keep asking for supports. Vicki Saunders mentions there is no right or wrong way to do a startup, but she encourages entrepreneurs to follow their own steps instead of following what others do. Keith Ippel states entrepreneurs should now confuse the vision and startup, and Ray Walia believes talking to customers will show if startups are going in the right direction.
Many panelists share their challenges during their startups. Walia experiences founder depression. Entrepreneurs will feel they are alone without supports from peers. However, supports are out there and entrepreneurs should keep searching. Ippel believes sometime the startups can be overfunded. The amount of money for startup is equal to the amount of money for launch. Entrepreneurs should have the habit to cut the budget in half to ensure they have the enough cash flow for the operation. Many entrepreneurs over build their startup launch and they should be lean about it. Saunders wants entrepreneurs to start building the network as soon as possible. Entrepreneurs’ network is their net worth, and they will never know when they need it. Earthy always valuates herself by asking the question “why”. This will help entrepreneurs to check if they are in the right direction.
“Love people, use money, and do not confuse the two”
Vancouver is experiencing new trends for the future. Guilaran believes there is a need to teach business for young generation. Business is a way to help them engage the world. Earthy believes the resourceswill be easy to access. Entrepreneurs are starting to simplify the roadmaps for the future. Saunders emphasizes many entrepreneurs are concentrating on making life and work balance. Ippel expects more collaboration with small businesses and aim for globalization. Moreover, Walia expects all industries will be influenced by technology.
Impact Story Telling and The Future of PR
Melissa Orozco, the Founder of YuluPR, shares that many entrepreneurs are managing their public relations with ego. Orozco believes there is a connection of PR with finding the right story. The story does not have to be exciting because media just want the truth.
YuluPR was founded 4 years ago and now it becomes one of the major benefit corporations that connect with social and communities. With the right social innovative in business, the values will recognize. Moreover, values will have meaning for the society.
Many people are willing to give their resources to help communities. Charities do not provide impact, but people do. Many entrepreneurs are judging others by actions, but they should also judge them by their intention. With the right intentions, it will lead to right actions. Moreover, impact will follow by the right actions.
Let’s Kickstart Vancouver
Jason Butcher, the Founder of Kickstart Business Catalyst, shares many entrepreneurs are facing the fear of failure. Traditionally, there was no platform to help other business owners. Now, the Kickstart Business Catalyst is created to give supports for business owners.
“I am inspire, people inspire me, and I inspire others”
Butcher introduces his mentor, Dan Smith, to the stage. Smith believes entrepreneurs create their own positive and negative beliefs about themselves. The important thing is that they need to know who they really are. When they figure out who they really are, there will be no fear for anything. By discovering their own intention in their business, they will discover there is nothing can hurt them, and no one can tell them who they are and what to do.
Universe has its own way. Entrepreneurs are the dream. By changing inside beliefs first, outside will eventually change.
Butcher introduces Janice, the CEO of SexyStory, to the stage. When she was 5 years old, she wanted to be a meaningful leader. However, she discovered she was diagnosed with 5 rare diseases will she will not expected to see her 40th birthday. Janice travelled over 5 different countries for cure, and with the right determination, she did it.
Janice believes people around her give her purpose and vision. She wants to provide a platform to help other’s dream come truth. It is important to take life fullest. Everyone has their 5 minutes of shine and it will feel great if someone can help them achieve their legacy.
Butcher introduces Ryan Philips to the stage. Philips wanted to be a national hockey player. He left home at the age of 16 and achieved his dream in his young age. However, he felt it was not real. In age of 20, Philips decided to take charge in his family business. In age of 24, he was in jail for personal reason.
He was not able to go back to United States to see her daughter due to the result of the sentence. The darkness was around him and happiness was not even near. Philips decided to pursue a meaningful business. He wrote a card for himself that he will find a way to return to United States to reunite with his daughter.
Philips started to give positive contributions to the society. The happiness started to return to Philips. Now he is granted to see his daughter once again.
Philips believes entrepreneurs can achieve anything when they put their hearts into their dream. When they find a way to eliminate the fear, they will become who they want to be.
“Entrepreneurship is to stop doing for yourself and start doing something for the humanity”
The Power of Purpose
Steve Curtis, the Founder of Zag Group Inc, asks all entrepreneurs an important question of “Why do you do what you do?”
In Curtis’ childhood, he was very active, but he was labeled as the bad kid. When Curtis was expelled from many elementary schools, he felt outcast. He started his business at the age of 19 and wanted to prove to the world he is good at it. The hard work paid off, but he sacrificed everything else in life.
Business was good and successful, but he hated his life. He pushed his body over the limit and got diagnosed with a rare type cancer. He fired his doctor and never accepted the truth. Until one day, he realized there was no treatment for his cancer and he only has 2 years to live.
Curtis started to think what he had accomplished. The cancer was his calling to connect a meaningful purpose. He believed if he could solve his cancer, he will save and help others. He started to believe he is connected in a meaningful way.
Curtis found a young MD to be his researcher. During the research, he realized the drug and health are different. It showed him a way to rethink about body and cell. Cell is responding to each other, so he needs to find a way to show up in the world to influence the cell.
Curtis was healed without any medication. Curtis used the ancient way of meditation and a way to love himself. Cancer in his body has stopped the spreading. Curtis discovers the cure is simple and why no one is announcing it. The reason is because people cannot make money off from happiness.
Stress can influence the progress of cancer. Curtis uses plants to calm his life and have better control of his body. In business, revenue will grow when entrepreneurs define purpose. Purpose can push business through. With purpose, every day will be amazing. Purpose is calling from a distance and purpose creates possibility for entrepreneurs. The challenges and obstacles are hints in life towards purpose, so entrepreneurs should open themselves up and find their purpose.
How to be the Best in the world
James Coleridge, the Founder of Bella Gelateria, believes all entrepreneurs have their mountains to climb. There are too many people in life say “no” to ideas.
After graduation, Coleridge continued his passion of making gelato. In 2014, he was awarded the Gelato winner in Italy. That moment gave him the drive to prove what he can do.
The most important question for entrepreneurs is “why”. Everyone has 86,400 seconds in a day, and they should be grateful of the moment in life. Coleridge decided to build a Gelato restaurant in Vancouver.
“You do not run away from competition, you are in competition”
Coleridge discovers entrepreneurs should not accept “no” to ideas. Coleridge appreciates everyone in his life and always treats his customers with honor respect. Entrepreneurs put all effects into their businesses. They do not learn from praises, and they learn from constructive criticism. They need to satisfy their curiosity so their dream can come true.
Road to success comes from failures. In Coleridge’s restaurant, there are two rules every employee needs to follow.
Do screw up
Have fun
When entrepreneurs allow their team to fail, they can learn from their mistakes and grow from it.
“Dare to dream, dream come true”
Live it! Achieve Success by Living with Purpose
Jairek Robbins, the number 1 bestselling Amazon author, performance coach and lifestyle entrepreneur, focuses on strategy. He believes life supports that which supports life make entrepreneurs grow. Anything that does not support life, it will be eliminated. In business, when entrepreneurs are not adding values, they will be eliminated.
Some people can look good from outside, but they are slowly dying from inside. Robbins believes it is important to be someone who lives their life fullest.
Robbins shares his past story. One day, he got sick and refused to take any doctor’s medication. Until he realized he only got 5 days to live. That moment, he was away from his family and people around them did not seem to support him. He learned a very important statement in life.
“When you leave house the first time, you know everything in life, but in reality, you know nothing in life”
Many entrepreneurs work for the rest of their life but accomplish nothing they desire. Robbins believes many entrepreneurs are imitating what other successful people are doing and expect the same results. However, their ways do not mean it will work for all entrepreneurs. By looking what works for entrepreneurs, they need to integrate other people’s ways and make it personal.
Robbins believes entrepreneurs go through repetition and habits until they are effortless. It will become realize pattern. Every entrepreneur should master the pattern. When entrepreneurs get bored and lonely, they will want to find someone different. There will be arguments, but after hard work, it will become effortless. Entrepreneurs need to figure out “effortless”. They need to search who they are.
Robbins sometimes questions himself if he spends too much time working. All entrepreneurs wonder about the work and life balance. Robbins believes if work and life are balanced, nothing will happen it will be boring. Instead, entrepreneurs should look for progress. When people win jackpot, it is the worst day of their life because that is the day when they lost the ability to function their body. The research shows when people who receive jackpot, their happiness start to decrease. This happens because there is growth of expectation. People with jackpot will think they expect more from others.
Robbins believes the best way for entrepreneurs is not to raise the expectation what others owe them. The formula is to lower the expectation and raise the standard of contribution.
“Are you living your absolute ideal day?”
Robbins shares 3 primary questions for all entrepreneurs.
Do I really live?
Do I love?
Does it matter?
Robbins wants all entrepreneurs to imagine the day is perfect. Most perfect day comes with live, love and matter. There is a difference between the vision they see and the mental rehearsal. Vision is the idea in mind and mental rehearsal is to see the nature of problem happens and how they hit it back. Vision and reality are different. Unexpected things happen and entrepreneurs need to do mental rehearsals. With enough mental rehearsals, when reality shows up, it will be natural for them to act.
Robbins explains there is a difference between pleasure and fulfillment. Pleasure is temporary and fulfillment will stick with entrepreneurs forever. Too many people are not focusing on the entertainment. They become the master of pleasure but a failure of fulfillment. Too many people want to reach for pleasure. However, in business, focus on desire and create fulfillment life is extremely important. Robbins has two questions that entrepreneurs need to ask themselves.
What do you do in your life and business when seeking momentary pleasure?
What do you do to create lasting fulfillment in your life and business?
“Make majority in fulfillment”
Many people are focusing on minors instead of majors. By focusing too much on minors, entrepreneurs will not set the right foundation for themselves. In reality, not a lot of people compliment on foundation of life. Robbins believes it is important to focus on foundation. Foundation includes health, emotional intelligence, relationship, family, professional life, finances, and spirituality.
“Minimum investment, maximum return”
People need to build the habits around foundation. Since brain goes on auto-pilot, entrepreneurs need to train their brain differently. Robbins emphasizes there are 3 steps to create habits. The first step is called Que. Que is to set off the routine with triggers. The second step is called Routine. Routine is to control the habits. The last step is called Reward, which is to create emotional payoff and celebrate for success.
Based on statistic, there is 40% of things in life is auto pilot. Entrepreneurs need to set rewards to build habits. In average, people make 200 decisions a day. Their brain utilizes the capacity to make important decision. Study shows within 30 seconds after people wake up in the morning will check their phone. However, brain needs a jump start and it takes 2 hours. Therefore, Robbins wants entrepreneurs to structure their days with no distractions, so they can make their best decisions to start the day. Robbins has another 2 questions for entrepreneurs.
What is one good habit you like to build into your daily life?
What is one bad habit you like to eliminate from your daily life?
Entrepreneurs should start with small wins. This is the keystone to lead to other great habits. Robbins explains the best way to breathe is 4 seconds in, 4 seconds out, 4 seconds hold, and 4 seconds in. Entrepreneurs can use positive and encouragement phrases to help the breathing. Robbins suggests entrepreneurs to continue repeat vision planning for 10 and 20 years.
Robbins introduces a concept of emotional rocket fuel. The fuel can help entrepreneurs to apply the right state, strategy, and story. The story can carry with them all the time. The strategy provides the framework and that state can impact mental, physical, spiritual moments in life.
Robbins recommends to all entrepreneurs to think about these 3 questions.
What you focus on
How your body moves and reacts
What you say to yourself
Entrepreneurs should always remember to find the reason bigger than life to fight for and always control their state.
