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    Why 99% of Young Entrepreneurs are Playing the Game WRONG

    enOctober 03, 2021

    Podcast Summary

    • Signs of Entrepreneurial SpiritTrue entrepreneurs focus on their business, live frugally, embrace challenges, and use doubts as motivation.

      True entrepreneurs should focus on their entrepreneurial pursuits without apology or distraction. According to Gary Vaynerchuk, if you've sold something before the age of 12, it's a good sign that you have the entrepreneurial spirit. However, not every entrepreneur is solely about sales. But if you're a true entrepreneur, you should be more than willing to live frugally and be obsessed with building your business. Don't waste time trying to be better at things that aren't essential to your entrepreneurial journey. Instead, embrace the grind and the hardships that come with entrepreneurship. And don't let others' perceptions of luck or success deter you from your path. Instead, use their doubts as fuel to prove them wrong.

    • Focus on your strengths and persist in your entrepreneurial journeyIdentify your natural talents and dedicate yourself to honing them. Seek out internships with role models and persist in your pursuit of goals despite initial setbacks.

      Focusing on your strengths and executing against them is key to entrepreneurial success. The speaker shares his experience of working hard while others enjoyed the Jersey shore, but emphasizes that real entrepreneurs should never apologize for their choices. Instead, they should identify their natural talents and dedicate themselves to honing those skills. The speaker also advises seeking out internships with people you aspire to be like as a way to get closer to your goals. Success stories often involve starting from humble beginnings and working your way up, so don't be discouraged if initial attempts to connect with mentors are unsuccessful. Keep focusing on your strengths and persist in your pursuit of your goals.

    • Seek out opportunities to learn directly from industry role modelsAccelerate your growth and gain valuable insights by actively seeking out mentors and learning from their experiences.

      Instead of dreaming about becoming the next successful figure in your industry, take active steps towards achieving that goal by seeking out opportunities to learn directly from them. This could mean reaching out to potential mentors or role models and offering to work for them, even if it means starting from the bottom. By immersing yourself in their world and learning from their experiences, you can accelerate your own growth and gain valuable insights that might have taken you years to discover on your own. So, if you're serious about achieving your goals, don't just wait for opportunities to come to you – create them by seeking out the people who inspire you and asking if you can learn from them. Whether it's through an internship, apprenticeship, or any other means, be proactive in your pursuit of knowledge and growth. And remember, it's okay if you don't have everything figured out yet – the most important thing is to keep learning and growing, one step at a time.

    • Pursuing goals with persistence can lead to valuable experiences and opportunitiesPersistently approaching people and offering value can lead to unexpected career advancements

      Persistence and getting close to your goals, even if it means facing rejection multiple times, can lead to valuable learning experiences and potential opportunities. The speaker emphasizes the importance of understanding the balance between being aggressive and not being annoying, and the potential upsides of approaching people who seem out of reach. He uses the analogy of getting as close to the sun as possible to gain leverage and opportunities. Working for someone for free or doing small favors for influential figures can lead to significant career advancements in the future. Overall, the speaker encourages the pursuit of goals with determination and a clear understanding of the potential rewards.

    • Understanding purpose is key to successIdentify strengths and passions to pursue goals with purpose and determination, avoid following trends without clear purpose.

      Having a clear purpose and understanding why you're doing something is crucial for success. The speaker shared his personal experience of realizing he was better suited to buy a football team than play in it due to his size and speed. He also discussed his experience in the business world, expressing that client work can be uninteresting and unfulfilling without a clear purpose. He emphasized the importance of understanding the industry and politics from the inside, rather than just reading about them. The speaker's message is that following trends or jumping into businesses without a clear purpose can lead to disappointment. Instead, it's essential to identify your strengths and passions and use them to pursue your goals with purpose and determination.

    • Learning from past experiencesValuable knowledge gained from seemingly backward steps can lead to greater opportunities and understanding

      Gaining knowledge and experience, even if it means taking a seemingly backward step, can lead to greater opportunities and understanding. The speaker, who spent two years working for a corporation to better understand how it operates, believes that this experience has given her more value than the compensation she received. She emphasizes the importance of living and experiencing things to truly grasp knowledge and views her decision as worthwhile, despite initial doubts from others. The speaker also expresses gratitude for listeners who leave positive reviews for her podcast, as their support and validation help spread awareness and encourage others to tune in.

    • Engaging with podcast community can lead to unexpected rewardsLeaving reviews can build connections, lead to recognition and appreciation, and foster authenticity and vulnerability in storytelling.

      Engaging with the podcast community can lead to unexpected rewards. The hosts encourage listeners to leave reviews, and those who do might be featured in a future episode. This simple act of engagement can help build a connection with the podcast and potentially lead to recognition and appreciation from the hosts and the larger listening audience. Additionally, the discussion touched on the importance of authenticity and vulnerability in storytelling, as well as the power of sharing personal experiences to build empathy and understanding. Overall, the conversation emphasized the value of community and the impact that genuine interaction can have on both the individual and the collective listening experience.

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