225. Q&AF: Starting Or Finishing, Technology Taking Over & Creating An Impact

Podcast Summary

• Focus on the process, not just the start or finish: Emphasize the enjoyment and progress in the present moment during any project or endeavor, rather than solely focusing on the start or finish line.

  Both the start and finish are important in any project or endeavor, but the emphasis should be on the process. According to Andy Priscilla, many people overthink the start and fail to get started, while others focus too much on the finish line and neglect the journey. The key is to create a process that is enjoyable and contributes to others, whether it's customers or team members. The idea of reaching a final destination, such as retirement or financial success, should not be the sole focus. Instead, it's essential to find joy in the present moment and the progress made along the way. So, whether you're just starting out or have been working on a project for a long time, remember to focus on the process and enjoy the journey.

• Beyond Financial Success: Finding Happiness and Fulfillment: Focus on building something that brings joy and meaning to your life, not just chasing external validation or wealth.

  Finding happiness and fulfillment in life goes beyond just financial success. The speaker emphasizes the importance of enjoying the process, having a strong sense of purpose, and being surrounded by a supportive community. He advises against exiting a successful venture without having a clear new purpose in place, as money alone is not enough to ensure happiness. The speaker also encourages listeners, especially those who are young in their entrepreneurial journey, to consider the intangible costs of pursuing material goals, such as the loss of valuable relationships and daily interactions with inspiring people. Ultimately, the key takeaway is to focus on building something that brings joy and meaning to one's life, rather than solely striving for external validation or wealth.

• Starting a business requires commitment and adaptation: Stick with it during the first few years despite challenges and find ways to integrate technology and humans effectively in your business

  Starting a business involves a long-term commitment and the ability to adapt as your vision grows. The end goal may change, but getting started is the most important step. The first few years will be challenging, and it's essential to stick with it despite the hardships. Regarding technology and automation, while they can save money, it's important to consider the impact on employment. From a moral standpoint, providing jobs is a business obligation. Technology is advancing rapidly, eliminating some jobs, and replacing them with automation. However, rather than relying on government aid, businesses should focus on finding ways to integrate technology and humans effectively.

• Balancing Technology with the Human Element: Businesses have a responsibility to prioritize human element, consumers prefer ethically produced American-made goods, human touch provides superior customer experience, investing in new facilities shows commitment, ethical production is a response to growing awareness, balancing tech and human element leads to long-term success.

  Business owners have an ethical responsibility to prioritize the human element in their operations, even in an increasingly technological world. The speaker believes that American consumers are becoming more conscious of where their products come from and are willing to pay more for ethically produced, American-made goods and jobs. While automation may offer convenience and cost savings, the human element, when properly trained and motivated, can provide a superior customer experience. The speaker's own actions, such as investing in new manufacturing facilities, demonstrate his commitment to this belief. The trend towards ethical and local production is not just a matter of principle, but also a response to growing awareness of issues like censorship, unethical labor practices, and the importance of human connection. Businesses that can balance technology with a strong human element are likely to succeed in the long run.

• Valuing Real-Life Experiences Over Virtual Ones: The speaker advocates for prioritizing real-life experiences and family values over virtual ones, focusing on practical solutions and products, and striking a balance between technology and real life.

  There is a growing awareness among people about the negative impact of technology on the human experience, particularly in terms of mental health and presence in real life. The speaker believes that this trend will continue and that there will be a cultural movement towards valuing real-life experiences and family values over virtual ones. From a practical standpoint, the speaker plans to focus on providing real-world solutions and products for people, rather than getting caught up in virtual trends like NFTs and metaverses. Despite the massive opportunities in these areas, the speaker believes that the real world will always generate more wealth and that it's important to strike a balance between technology and real life. The speaker's perspective may be unpopular among some in the tech industry, but they remain confident in their approach and believe that the future will see a shift towards valuing real experiences over virtual ones.

• Ethical Considerations in Virtual Experiences: Focus on improving real-life experiences and helping others, consider long-term consequences, and prioritize personal values over trends.

  While some people are drawn to the allure of virtual experiences and potential financial gains, there are ethical responsibilities to consider. The speaker believes that focusing on improving real-life experiences and helping others is more valuable than capitalizing on people's misery or societal regression. They also emphasize the importance of considering the long-term consequences of technology on the human experience and question the value of investing heavily in it. The speaker shares their personal experience of making a significant return on investment by focusing on themselves instead of following trends, and encourages listeners to consider their own values and priorities.

• Understanding Ethics and Entrepreneurship in Crypto: Exploring crypto requires a solid ethical foundation and essential entrepreneurship skills to succeed and contribute positively to the industry.

  While exploring new opportunities like cryptocurrency, it's crucial not to abandon essential entrepreneurship skills. Andy emphasizes the importance of understanding the ethical implications of such ventures and considering their long-term benefits for humanity. He draws a parallel to legal and medical professions, where knowledge of the business side is vital for success. If one decides to delve into the crypto world, they must have the necessary skills to manage and grow their company. Without these abilities, they may miss out on greater potential profits and contributions to the industry. Ultimately, it's essential to approach new opportunities with a clear ethical framework and a commitment to developing and utilizing all necessary skills.

• Building a successful team requires collaboration and recognition: Recognize and appreciate team members' contributions, surround yourself with ambitious individuals, and limit interactions with those lacking drive.

  Success is not a solo endeavor. According to the speaker, it takes a team of dedicated individuals working together to build something meaningful. The speaker emphasizes the importance of recognizing and appreciating the contributions of others, and surrounding oneself with people who support and share similar ambitions. The speaker also highlights the need to limit interactions with individuals who lack ambition, as they can drain energy and focus. In essence, building a successful team requires careful selection and collaboration, and a willingness to acknowledge the interconnectedness of individual efforts.

• Surround yourself with positively influencing individuals: Audit your friend circle, focus on meaningful conversations, and engage with individuals who support and inspire your personal growth and goals.

  It's essential to surround yourself with individuals who positively influence your personal growth and goals. The speaker emphasizes the importance of engaging in meaningful conversations and avoiding small talk or negative influences. He suggests that the company you keep can significantly impact your life, whether it be financially, personally, or otherwise. The speaker encourages auditing your friend circle and focusing on conversations that align with your values and aspirations. Ultimately, the goal is to make your life meaningful and impactful, and to do that, you need to surround yourself with individuals who support and inspire you to achieve your mission.