Podcast Summary
From Felon to Entrepreneur: Nick Kumulatsos' Journey: Despite past mistakes, one can turn their life around and find success through hard work and determination.
Success often comes after facing and overcoming numerous failures. Nick Kumulatsos, a guest on The Empire Show, is a prime example of this. Before becoming an entrepreneur, Nick joined the Marine Corps to find a sense of belonging after growing up without a father figure. However, his past caught up with him, leading to two felonies. This realization came when he was only 13 years old and saw the consequences of his actions in the county jail. After this wake-up call, Nick worked hard to turn his life around, dropping out of school to get his GED and working multiple jobs. Despite the initial sacrifice, he found that the freedom and financial rewards of working were worth it. Nick's story illustrates that everyone faces challenges, but it's how we respond to them that ultimately determines our success.
Realizing the need for change: Even with a stable income, one can feel unfulfilled. Self-reflection and determination can help overcome challenges and pursue personal growth.
At a young age, the speaker realized the potential monotony of his life if he continued down his current path. He was making a substantial income but felt unfulfilled due to his lack of education and fear of being stuck in the same routine for the next two decades. This realization led him to make a drastic change by joining the Marine Corps despite having a GED and a criminal record. The rejection from the Marines became his motivation to work towards meeting their requirements, which took him almost two years. This story highlights the importance of self-reflection and the determination to pursue goals despite challenges.
Pushing Through Obstacles: The Power of a Resilient Mindset: Believe in your abilities, focus on daily actions, and maintain a resilient mindset to overcome challenges and achieve entrepreneurial success.
Having a resilient mindset and the ability to push through obstacles, including hearing the word "no," is crucial for entrepreneurial success. This trait can be both innately present and developed further. The speaker shares how their rebellious spirit and determination to move the needle forward, despite facing rejection, helped them overcome challenges and ultimately achieve their goals. However, it's essential to recognize that this mindset can also lead to taking on the wrong opportunities or directions if not properly channeled. To develop this skill set, believing in one's abilities is the first step, as emphasized by the elephant and the stick analogy. The elephant represents the big goal, and the stick represents the daily actions required to reach it. By focusing on taking small, consistent steps and maintaining belief in one's abilities, individuals can learn to push through adversity and become successful entrepreneurs.
Beliefs and limitations can hold us back, but changing perspective can lead to growth: Beliefs and past experiences can limit us, but adopting a growth mindset and viewing failures as opportunities for growth can help us overcome self-imposed limitations and reach our full potential.
Our past experiences and perceived limitations, represented by the rope and stick in the elephant analogy, can hold us back from reaching our full potential. These beliefs, or "sticks in the ground," can be our traumas, haters, or any obstacles that seem insurmountable. However, if we change our beliefs and view failures as temporary setbacks, we can continue moving forward and grow stronger, like scar tissue. Successful people often have multiple failures before achieving their goals, and each failure provides valuable lessons and resilience. It's essential to adopt a growth mindset and understand that failure is not final but a stepping stone towards progress. High-performing individuals, especially those in high-risk professions, may have a deep-rooted fear of failure due to the potential consequences. By reframing our perspective on failure and embracing it as an opportunity for growth, we can overcome our self-imposed limitations and unlock our true potential.
From setbacks to growth: Despite initial struggles and setbacks, it's important to persevere and use challenges as opportunities for growth. Resilience, determination, and a positive attitude can lead to success.
Even in the face of adversity and failure, it's important to use setbacks as opportunities for growth rather than letting them hold you back. The speaker's journey from a Marine recruit to a member of Marine Special Operations is a testament to this principle. Despite initial struggles and setbacks, including a broken wrist and being assigned to a less desirable role, he persevered and eventually thrived in his chosen field. The events of 9/11 further shaped his experience and career in the military, leading him to reflect on how different his life might have been without those experiences. Ultimately, the speaker's story underscores the importance of resilience, determination, and a positive attitude in overcoming challenges and achieving success.
From force to finesse: Adapting tactics in military operations: Military units can benefit from adapting their tactics to better achieve their goals and minimize risks. In some cases, a more subtle approach can lead to valuable intelligence and save lives.
Sometimes, the approach we take to achieve our goals may not be as effective as we initially thought. In the context of military operations, this was evident during a deployment in Iraq where a force recon platoon shifted from a tactic of "kicking in doors and shooting bad guys" to a more covert and strategic approach. This change came about due to the realization that their actions were not making a significant impact and that someone could get hurt or killed for no reason. By adopting a more subtle approach, they were able to gather valuable intelligence and prevent IEDs from being detonated, ultimately saving lives. This experience taught the importance of being adaptable and understanding when to use a scalpel instead of a hammer. In business, this could translate to trying different strategies, being open to feedback, and adjusting approaches based on new information.
The importance of being strategic and gathering intelligence before making a move: Gathering intel and making informed decisions leads to greater success and efficiency, especially during times of transition.
Being strategic and gathering intelligence before making a move, whether it's in business or in life, can lead to greater success and efficiency. This lesson was learned during the speaker's time in the military, where he compared the hammer approach (rashly investing all resources into one thing) to the scalpel approach (gathering information and making informed decisions). This concept is particularly important during times of transition, such as leaving the military, where having a clear plan and understanding of what lies ahead can make all the difference. The speaker's book, "Excommunicated Warrior," shares this message and provides a roadmap for navigating the challenges of transition. The title of the book reflects the speaker's own experience of feeling isolated and misunderstood during this time, but ultimately finding success through perseverance and strategic planning.
Losing a job or identity causes universal feelings of grief and uncertainty: Seek support and understand that you're not alone during transitions, as losing a job or identity is a human experience.
Losing a job or identity can lead to feelings of grief and identity crisis, which is not unique to veterans or military personnel, but a human experience. The speaker's personal journey and the concept of his book resonated with various audiences, including athletes and mothers going through transitions. The speaker wrote the book in 2016, after realizing the universal nature of this issue, and during that time, he and his wife managed multiple businesses, which although provided opportunities, also divided their focus. The loss of a job or identity can be compared to the end of a football career or empty nest syndrome, leading to a sense of uncertainty and questioning one's purpose. This realization can serve as a reminder for individuals going through similar experiences to seek support and understand that they are not alone.
Focusing on what brings success and letting go of what doesn't: The 80/20 rule played a crucial role in recognizing what brings success and letting go of unproductive ventures. Passion and focus can lead to personal and professional growth, even if past experiences may seem limiting.
Focusing on what brings success and letting go of what doesn't can lead to significant personal and professional growth. The speaker's journey from running multiple businesses to pursuing education and finding joy in specific ventures illustrates this concept. The 80/20 rule, or the Pareto Principle, played a crucial role in this process, as 20% of businesses and workforce contributed to 80% of the revenue. A turning point in the speaker's life was an experience on the Discovery Channel's "Trail Blazers," where he discovered a passion for production. This passion led him to YouTube and eventually to pursuing education, despite initial challenges in academia. With focus and desire, he was able to earn degrees and grow both personally and professionally. It's essential to recognize that past experiences and identities, such as struggling in school, should not limit future learning and success. Instead, it's important to let go of the "head trash" or limiting beliefs and focus on what brings joy, fulfillment, and success.
Staying adaptable during adversity: Entrepreneurs can remain resilient and innovative during crises by staying adaptable and open to new opportunities. Even when faced with business closures and raids, entrepreneurs can pivot and find success through creativity and community support.
Even in the face of adversity, such as business closures due to government orders and raids, entrepreneurs can remain resilient and innovative. The interviewee, a gym owner and franchisor, shares how he was raided during the COVID-19 pandemic and instead of giving up, he reopened his gym following CDC guidelines and saw great support from his community. Additionally, he stumbled upon a potential business opportunity when a young man approached him with hair pomade and beard oil, leading him to discover a promising product and invest in it. Despite initial skepticism, the interviewee saw the potential in the product and became an influential figure in promoting it. These experiences demonstrate the importance of staying adaptable and open to new opportunities during challenging times.
Johnny Slick's Dedication Led to Business Success: Commitment and dedication are crucial for achieving business success. Johnny Slick's story of selling plasma to fund his business and creating a $1,000,000 product within two years highlights the importance of these traits.
Commitment and determination can lead to successful business partnerships and the launch of profitable products. The story of Johnny Slick, a former marine, illustrates this idea perfectly. He and his wife sold plasma to fund their business and were dedicated to making it a success. Their partnership and commitment resulted in the creation of a $1,000,000 product within two years. The speaker was inspired by Johnny's story and was sold on the product after trying it and getting a new haircut. The product's consumable nature, such as hair care items, resonated with the speaker as it aligns with his own business, Trulene, which also offers consumable products. The moral of the story is that involvement in a project is not enough; commitment and dedication are essential for achieving significant success.
Unexpected opportunities from the right infrastructure: Having the right infrastructure can lead to quick sales, significant growth, and valuable partnerships. Create multiple income streams with recurring revenue.
Having the right infrastructure in place can lead to unexpected opportunities. For instance, this was the case for Johnny, who already had in-house fulfillment, marketing, and advertising capabilities. When he decided to sell a pomade, he was able to quickly set up an online store using Shopify and make sales within the first hour. This initial success led to significant growth for the business, with revenue increasing year after year. Another key takeaway is the value of a business partnership, especially when each partner brings unique skills and elements to the table. In Johnny and Bator's case, they became an anomalous and successful team, despite facing bumps and tension along the way. Lastly, creating multiple income streams and those with recurring revenue is an important lesson. Nick, who has a different type of business, also experienced success through his partnership with Josh. Despite Josh's tragic accident, they remained connected and eventually found a way to collaborate on a new project.
From Gym to Coaching: The Agoge Story: A compelling story, multiple revenue streams, and collaboration with trusted partners are crucial for business success and resilience.
Collaboration and multiple revenue streams are essential for business success and resilience. The speakers shared their experience of transitioning from a gym business to a coaching program, which they named "Agoge," inspired by the Spartan training camps. They emphasized the importance of having a compelling story to sell, focusing on men's need for structure, discipline, and accountability. The Agoge program's first pillar is fitness, which encompasses physical, mental, and spiritual aspects. They discovered that men perform better when physically fit, optimizing hormones and overall well-being. Despite the challenges, such as the COVID-19 shutdowns, having multiple revenue streams protected their business and family. Collaboration with trusted partners also played a crucial role in their growth and expansion.
Taking care of physical health leads to improved mood, energy levels, and sexual function: Regular exercise releases dopamine, improving mood, energy, and sexual function. Consistent routine and discipline are essential for good health.
Taking care of your physical health leads to numerous benefits beyond just looking good. Working out regularly releases dopamine, improving mood, energy levels, and even sexual function. Neglecting health, on the other hand, can lead to lethargy, depression, and serious health issues like heart disease and diabetes. To make health a priority, building a consistent routine is essential. It's not about being motivated all the time but rather showing up every day with discipline. Olympic athletes don't wait for motivation to train; they make it part of their schedule. In business, scaling operations involves building a team and offering high-value services. Raising prices and believing in the value of your offerings can be challenging but is necessary for growth. Trusting a coach or mentor and operating on faith can help overcome doubts and lead to success.
Learning from Others' Experiences: Seeking knowledge from others can shorten your learning curve and help you avoid unnecessary failures. Adaptability and focusing on what adds value are crucial for success.
Learning from others' experiences can help us achieve success more efficiently. The speaker shared his experience of seeking the expertise of others to shorten his learning curve and avoid unnecessary failures. He also expressed admiration for the transformations his coaching clients have undergone, which gives him a sense of fulfillment similar to his early days as a personal trainer. The concept of "killing your darlings" was also mentioned, which refers to eliminating unnecessary elements in a project to make it more effective and focused. This idea was applied to the speaker's business when they temporarily suspended one of his income streams to prioritize others during the scaling and automation process. Overall, the discussion emphasizes the importance of seeking knowledge from others, being adaptable, and focusing on what adds value.
Letting go of projects and beliefs for growth: Killing your darlings allows for increased focus, productivity, and success by letting go of projects and beliefs that no longer serve us. Limiting beliefs hinder personal and professional growth, so it's important to let them go as well.
Sometimes it's necessary to let go of projects or beliefs that no longer serve us in order to focus on new opportunities and growth. This concept, known as "killing your darlings," can be difficult and may cause discomfort, but the end result can lead to increased focus, productivity, and ultimately, success. Nick shared his personal experience of having to do this with a business venture, and how it allowed him to refocus and grow his businesses even faster. He also emphasized the importance of letting go of limiting beliefs, such as "I can't" or "I don't believe," in order to live a fulfilling life both personally and professionally. Nick encourages listeners to follow him on social media, particularly Instagram and Facebook, and to check out his book for more insights and inspiration.
