Podcast Summary
Discovering Your Strengths for Success and Fulfillment: Embrace your strengths, follow your passion, and focus on what you excel at to create a fulfilling and successful career or life path.
Discovering and focusing on what you are good at is key to success and fulfillment. Michael Rubin, the guest in the podcast, always gravitated towards business from a young age because he realized it was what he excelled at. Despite struggling with academics and athletics, he found his passion and talent in entrepreneurship. This highlights the importance of self-awareness and embracing your strengths. Instead of comparing yourself to others or trying to fit into societal expectations, it's crucial to identify your skills and interests and double down on them. By doing what you love and utilizing your strengths, you can create a fulfilling and successful career or life path.
The Importance of Continuous Learning in Entrepreneurship: Entrepreneurship requires a combination of innate talent and a willingness to learn from others. Surrounding oneself with respected individuals, learning from their experiences, and constantly seeking growth opportunities are essential for success.
In short, one big takeaway from this conversation is that entrepreneurship is a combination of innate talent and continuous learning from others. Michael Rubin believes that he was born with the entrepreneurial hustle and have always had the drive to be an entrepreneur. However, he also emphasizes the importance of being a sponge and absorbing knowledge from diverse individuals. By surrounding oneself with people to respect and admire, one can learn valuable lessons and improve their own skills. Rubin suggests taking the good from others and learning from their mistakes, as well as acknowledging and working on one's own flaws. Furthermore, he highlights the significance of constantly seeking opportunities to learn and grow in order to succeed in entrepreneurship.
Revitalizing the Trading Card Industry through Innovation and Consumer Experience: Innovation in the trading card industry doesn't always have to be digital or technological; tangible changes, like unique features and better consumer experiences, can make a significant impact.
The trading card industry has experienced a lack of innovation and marketing until recently. Michael Rubin and his team recognized the immense potential in this industry and saw an opportunity to bring it into the modern era. They understood that collectors and fans needed a better consumer experience and set out to create innovative products that would capture their interest. By introducing unique features like debut patches on jerseys and turning them into one-of-a-kind trading cards, they have breathed new life into the industry. This serves as a reminder that not all innovation has to be digital or technological – sometimes the most valuable changes are physical and tangible, offering fans exactly what they want.
Perseverance and Courage: Key Lessons from Entrepreneurs: Persevere through failure, surround yourself with great people, and have fun in what you do to find success in entrepreneurship.
In short, one big takeaway from this conversation between Jay Shetty and Michael Rubin is the importance of perseverance and having the courage to fail in entrepreneurship. Michael emphasizes that being an entrepreneur is not for everyone, but if you believe in your idea, you should go for it and put your best foot forward. Failure is a part of the journey, and it is through failures that we learn and grow. Just like Kobe Bryant, who faced numerous failures but continued to push through and improve, entrepreneurs need to have the same mentality. Michael also highlights the significance of surrounding yourself with great people and having fun in what you do. Success in entrepreneurship requires a combination of resilience, teamwork, and passion.
The Key to Success: Enjoying Your Work and Learning from Others: Success is not just about money, but about finding passion in what you do and seeking personal fulfillment. Embrace diverse perspectives and learn from others, and develop the ability to recognize patterns for making informed choices.
Success is not solely determined by financial results or external validation. Michael Rubin emphasizes that the most important thing is enjoying what you do every day. He believes in loving your work and being passionate about it, as that brings true fulfillment. Rubin's approach to success centers around personal satisfaction and finding joy in the daily grind. Additionally, Rubin highlights the value of learning from those around us, regardless of their status or background. He actively seeks diverse perspectives and is curious about people's experiences. Finally, recognizing patterns, whether in business or human behavior, is a crucial skill for predicting future outcomes and making informed decisions.
The Importance of Pattern Recognition in Hiring and Decision-Making: When making decisions or hiring, it is essential to look beyond initial performance and understand patterns to ensure subject matter expertise, intellect, leadership skills, shared values, long-term commitment, and an unrelenting drive to win.
Pattern recognition is crucial in both hiring and decision-making. Michael Rubin emphasizes that it's not just about being blown away by someone's initial performance, but also about understanding their patterns from behind the scenes. This applies to everything he does, including playing blackjack with friends. When interviewing potential candidates, Rubin looks for subject matter expertise, intellect, and leadership skills. He seeks individuals who share the same values, have long-term commitment, and demonstrate an unrelenting drive to win. He spends a significant amount of time interviewing to ensure he hires the best talent. Additionally, he values a culture where everyone possesses the same mentality and shares the company's core values, as they set the tone for the entire organization.
Finding Harmony and Embracing Personal Routines for Personal and Professional Fulfillment: Building meaningful relationships, prioritizing self-care, and embracing personal preferences are essential for finding fulfillment in personal and professional life.
Finding the right fit in personal and professional relationships is crucial. Michael Rubin highlights that even if someone is a great individual, they may not align with our beliefs and values. Work-life balance is a personal choice, and not everyone may understand or agree with it. Rubin stresses that he knows himself well, including his strengths and preferences, and he unapologetically embraces them. Jay Shetty relates to this perspective, emphasizing that he also doesn't see a disconnect between work and life. Both Rubin and Shetty prioritize building connections with the people they work with, enjoying their company and creating meaningful relationships. They stress the importance of routines and self-care practices, such as exercise and putting their phones away, to maintain mental clarity and prevent burnout. Overall, the key takeaway is that finding harmony and compatibility in relationships and embracing personal routines are essential for personal and professional fulfillment.
Building a Great Company and Making a Difference: True worth is not defined by financial success alone; it comes from personal growth, impacting lives, and doing what one believes is right, rather than just accumulating wealth.
Michael Rubin's worth is not defined by his net worth, but by his commitment to building a great company and making the world a better place. He believes that financial success alone is not fulfilling and instead focuses on constantly improving and being better in everything his company does. Rubin emphasizes that he is not in competition for more money because his life is already financially stable. Winning in business is what excites him, and he constantly looks for areas of improvement and growth. Furthermore, Rubin's perspective on making a difference in the world shifted when he had a personal experience in 2017. He realized the importance of authentic and genuine contributions, rather than just writing checks to appease others. This revelation led him to get involved with criminal justice reform, despite being advised against it. Overall, Rubin's key takeaway is that true worth comes from personal growth, impacting lives, and doing what one believes is right, rather than just accumulating wealth.
Making a Difference Through Bold Philanthropy: Following your instincts and working tirelessly to bring about change can lead to remarkable results and positive impact, even when faced with criticism and potential risks.
Doing what you believe is right often leads to positive outcomes. Despite others advising against it, Michael Rubin chose to get involved and help Meek when he was in prison. This decision was criticized and seen as potentially damaging to his reputation and business interests. However, by following his instincts and working tirelessly to bring about change, Rubin was able to make a significant impact on the criminal justice system. Through the Reform Alliance, they have passed 17 bills in 11 states, creating a pathway for 700,000 people to get off probation and parole. This shows that taking a bold and entrepreneurial approach to philanthropy can yield remarkable results and turn negatives into positives.
Aim High: The Power of Setting Bold Goals: Setting audacious goals allows for remarkable growth, innovation, and personal development. Don't settle for mediocrity; challenge yourself to accomplish more than you ever thought possible.
Setting bold goals can lead to remarkable growth and progress. Michael Rubin's example of setting a goal to reach a million people and not being afraid of potential failure shows the power of aiming high. He acknowledges that even if they fall short, they still consider it a win. This mindset allows for unbridled innovation and improvement in various areas of business, such as consumer experience and product innovation. This approach also applies to personal lives, as setting audacious goals can lead to personal growth and better strategies. The key is to challenge oneself and not settle for mediocrity. By setting big goals, individuals and businesses can accomplish more than they ever thought possible.
The Importance of Communication and Mutual Support in Balancing Personal and Professional Commitments: Balancing personal and professional commitments can be challenging, but effective communication and mutual support can help navigate these demands successfully.
Having open and honest communication in relationships is crucial. While Michael Rubin and his wife, Camille, have busy lives and demanding careers, they have managed to create a strong bond by understanding and accepting each other's work ethic. They both acknowledge that they may want more time together, but they also recognize and respect each other's commitments and passions. This understanding has helped them build a solid foundation for their relationship. Additionally, Michael's daughters, including his 17-year-old who travels with him frequently, have grown up witnessing his strong work ethic. This exposure has allowed them to understand and appreciate the importance of hard work and dedication. The key takeaway here is that balancing personal and professional commitments can be challenging, but effective communication and mutual support can help navigate these demands successfully.
Embracing Individuality and Prioritizing Loved Ones: Being true to ourselves and prioritizing the needs of our loved ones can lead to personal fulfillment, meaningful relationships, and overall success in life.
Everyone is unique and has different needs and ways of doing things. Michael Rubin emphasizes the importance of doing what works for him and his family, while acknowledging that others may have different approaches. He highlights the value of being there for loved ones when it truly matters, as he experienced when his daughter needed help with college-related matters. Michael also views his ability to prioritize and focus on what truly matters as a superpower. Jay Shetty adds that it's essential to be present for those we care about and to just be there without always offering advice. Overall, the key takeaway is that learning from diverse people and finding what resonates with us personally can lead to purpose, impact, and success.
Embracing Failure, Putting Consumers First, and Making Real Change: Lessons from Michael Rubin: Overcoming the fear of failure, prioritizing consumer needs, and approaching impact work with a business mindset are essential for personal growth, success in business, and making a meaningful difference in the world.
Fear of failure can hold us back from taking risks and pursuing entrepreneurial endeavors. Michael Rubin emphasizes the importance of not being afraid to fail, as it is through failure that we learn and grow. He highlights the need to go all in and take the shot, rather than getting caught up in indecision. Additionally, Rubin emphasizes the significance of putting the consumer first in business. He aims for an obsession with the consumer and believes that true success in a consumer-focused business is achieved by prioritizing their needs and delivering exceptional experiences. Lastly, he stresses the importance of making real change in our impact work, taking measurable actions and treating it like a business rather than a mere charitable act.
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