Archives For Self-Awareness

Foreword

One thing I have learned is that for the most part, people express the same idea but they express it in many different ways and with many different words. It is the details in the expression, the words, and combination of words used, that give a story its colour, its texture, and brings it–and its lessons–to life.

We are unique combinations of our beliefs, values and life experiences. Differences notwithstanding, we, and our experiences, are important. Therefore, there is value in compiling and sharing these stories and the multitude of ways in which ideas are expressed. Combined, these stories weave a wonderful tapestry that exemplifies just how rich and beautiful life can be.

And who knows? An inadvertent remark or detail in the retelling of a story can stand to attention and have an impact in the world of a reader. And with that exciting possibility, perhaps the most valuable thing I can do is create the space where the stories of those whom I admire and respect can be shared.

Below are people that I have come across on my own life journey whom I deeply admire and respect. Whether it be their tenacity or courage, or relentless drive or passion, each individual generously reveals a different lens in response to the questions I regularly pepper them with.

As we continue on our sharing over this anthology, I will share tidbits and anecdotes as to why I hold them in such high esteem, and what I love most about them. In turn, I hope that you do too.

How did your business come to be?

Old ways have got to give for new beginnings to happen

Ai-Ling Wong. Founder at The Decorateur, President at Entrepreneurs’ Organization. Kuala Lumpur, Malaysia.

My entrepreneurial journey started at the age of 25 where I worked in one of my family businesses; a trading business which had no family members running it but only hired people. Thrown in to the deep end, it was a steep learning curve. In spite of the little experience I had, slowly but surely I increased sales 30% year-on-year.

After 12 years running the business, our Singaporean business partner started meddling and telling us “what to do”. Not surprisingly, it didn’t take long for us to reach the point where we could not see eye-to-eye.

Not wanting to cause more stress to my father–who was Chairman at the time, I offered the Malaysian Managing Director position to the Singaporean partner, and gave him 3 years to prove himself (as he claimed he could increase the business turnover). I then embarked on my new interior design business which took off swiftly.

Fast forward 3 years, the Singaporean partner did not manage to meet targets, and I was asked to return. By that stage, I was too entrenched with my growing interior design business to return to run the trading business.

A negative experience sometimes happens for a good reason. In other words, old ways have got to give for new beginnings to happen. In this case, despite my dissatisfaction towards the Singaporean partner, I have him to thank for the better opportunity to start my new business.

Little did I realize how much my company would grow to improve the lives of our supplier partners, team members, and many others around the globe

Andrea Grisdale, Founder and CEO at IC Bellagio, Board Member at Entrepreneurs’ Organization. Bellagio, Lake Como.

My business was created out of my love and passion for all things Italy and travel.

When my company was founded back in 1999, it was a great opportunity to live the life I wanted to live, that is, improving the lives of others through travel and all things Italy. This gave me opportunity to enjoy not only all that this beautiful country has to offer but be able to share the best of it with those from afar.

Little did I realize how much my company would grow to improve the lives of our supplier partners, team members, and many others around the globe.

My business came to be from of a mixture of: (1) a pinch of chance; (2) a hint of right timing; (3) a bag of hard work; and (4) the audacity of sticking through challenging times

David Fastuca. Founder at Ambisie, Founder at Locomote. Melbourne, Australia.

My business came to be from of a mixture of: (1) a pinch of chance; (2) a hint of right timing; (3) a bag of hard work; and (4) the audacity of sticking through challenging times.

My business partner and I almost gave up on our efforts to create a business for ourselves after struggling in our very early days with a variety of other businesses.

Sticking “with it” and having the courage to persevere led us to opportunities in industries we knew nothing about. Isn’t life funny?

Serendipity has been a strong theme throughout my career

Jamie Skella. Chief Operating and Product Officer at Mogul, Former Chief Product Officer at Horizon State. Melbourne, Australia.

Serendipity has been a strong theme throughout my career. I focus intensely on the things that I’m interested in, then keep an open mind about the opportunities that present themselves without deliberate planning. In the case of my most recent project, Trax, it came to be on these same familiar terms.

Trax combines esports, cryptocurrency, and digital product to capitalize on a gap in the market; each of which I have accumulated vast amounts of knowledge in during past years.

I deeply admire specialization yet having a “broad T” has enabled me to combine knowledge sets to identify and seize opportunities that would have otherwise been missed. I imagine this is how many of my future businesses will come to be, as the effects of a broad T only continue to compound positively over time.

Knowing what I know now, would I do it all again? Absolutely. Without question. Without hesitation.

Kym Huynh. Founder at WeTeachMe, Former President at Entrepreneurs’ Organization. Melbourne, Australia.

WeTeachMe was born from: (1) a chance encounter between strangers at a weekend hackathon; (2) the sharing of an idea that the strangers believed in and could get behind; (3) a bag full of enthusiasm and dreams; (4) a sprinkling of youthful optimism and nativity; and (5) a willingness to throw caution to the wind and give things a good go.

The following years saw these strangers: (1) bond over weekly meetings at local cafés eating complimentary biscuits and cake the staff brought over; (2) spend their days, evenings and weekends hunched over dimly lit computer screens obsessing over the business, the strategy, and the product; (3) chatter excitedly about grandiose ideas and what the future could bring; and (4) experience joy as their vision came to life before their very eyes.

What these strangers didn’t anticipate, however, was: (1) the many hard lessons that would need to be learned; (2) the overwhelming stress would at times cripple one another and cause burnout; and (3) the difficult challenges that would need to be navigated as part and parcel of the journey.

Knowing what I know now, would I do it all again? Absolutely. Without question. Without hesitation.

The learning curve for me was steep… but life-changing. The relationships and friendships I had were tested… but the ones that survived will last a lifetime. The experiences tested me… but have changed me for the better. All these things are things that no amount of money can buy.

I consider myself an accidental entrepreneur. I just started walking and just continued walking.

Raymond Chou. Founder and CEO at Infront Consulting APAC. Kuala Lumpur, Malaysia.

I consider myself an accidental entrepreneur. I started selling cookies when I was 14 to help the family, and a lot of the “entrepreneurial spirit” was learnt along the way.

In my working life, I could somehow never hold on to a job for more than a year. I would join a company, work to improve the systems and efficiency, and once achieved would get bored. After some years of this, I went into self-employment and established myself as an IT trainer. I started off by teaching Microsoft Project, Microsoft Excel, and Microsoft PowerPoint.

After some years of this, a friend coaxed me into starting a business of my own and said that he would invest in me. I jumped on this opportunity and have never looked back.

Did I plan it all? Did I have a grand vision? Not at all. I just started walking and just continued walking.

Sometimes we’re hard on ourselves in regarding to having a plan. But do we even have enough knowledge to even have a plan? As a young 24-year-old, I did not possess the knowledge of business, and did not have enough life experience to create a grand vision. Is that wrong?

Perhaps it is more important to not stand still, and to take steps forward until one day you can see what your grand vision is.

My business came to be by asking myself one big question

Ron Lovett. Founder and Chief Alignment Officer at Connolly Owens, Founder and Chief Community Officer at Vida Living, Author at Outrageous Empowerment. Halifax, Nova Scotia.

My business—VIDA Living—exists to revolutionize affordable communities, and came to be by asking myself this one big question: “What if I had to restart the affordable housing industry? What would it look like?”

From there the second question was born: “What if we treated tenants like customers?”

The rest, as they say, is history.

My company was purchased for $1 and now has a market capitalization of about $80M. Not a bad return on $1.

Tony Falkenstein. Founder and CEO at Just Life Group Limited, Founder and CEO at Just Water, President at Entrepreneurs’ Organization. Auckland, New Zealand.

I once worked for a publicly listed company, and started a division to rent out fax machines. The public company went into receivership, and I purchased the fax division for $1.

From renting faxes, we moved to water coolers, water delivery, ventilation systems, Solatube and hot water cylinders.

Just Life Group is now a public listed company in its own right and has a market capitalization of about $80M. Not a bad return on $1. (And I still own/control 80% of the company.)

My business started on a bet

Tui Cordemans. Co-Founder at Koh Living. Melbourne, Australia.

For some reason, I expect people to have serious and purposeful responses as to why and how they started a business. For me, it started on a bet. I was an unemployable twenty-something-year-old and wanting to live my highest values (travel and fun).

During my twenties, I left a business behind in Germany and when I moved to Australia, I had to get a job. 3 short-term jobs later, I decided I was not made for the employment market.

During that time, my best friend (now business partner) were planning our holidays. She wanted to go to Vietnam but didn’t have the funds. I offered to give her some to which she responded that she would only accept if I started a business when I came back from my 3‑month stint travelling Nepal and south-east Asia. With that at the back of our minds, off we went on our travels.

Towards the end of our respective trips, we reunited in Bangkok. Sitting outside an Israeli restaurant, we drank ice-cold beers and shared photos of our holidays. We were bent over with laughter, so much so that a lady approached us and asked if she could join us. She was curious as to why we were laughing so much you see.

As fate would have it, we ended up having way too many beers and started talking about business. This lady turned out to own a distribution company in Melbourne, Australia selling homewares. She had been travelling around the world sourcing new products and was on her way home.

We both thought that this sounded amazing, and sounded like the best job in the world.

After this encounter, my friend went home and I was left with the task of finding product. On a budget, I trawled the Chatuchak market and came across some colorful unique candles. Not having ever bought a candle in my life, I put $1,000 worth of candles on a credit card and my friend went about trying to work out how to get them to Australia.

We don’t sell those candles anymore, but a lifetime later, we have one of the most recognizable tourist brands in Australia. And true to form, our business continues to fulfill our highest values of travel and fun!

What do you think?

Do you agree or violently disagree with anything shared in this article? Or do you have any of your own stories that you want to share? Pop them in the comments and I will personally reply.

Call to action 

My goal is to help 1,000,000 people. My wish is to have these articles shared 1,000,000 times through the various social networks. For this reason, I provide this collection online for free and all I ask of you is this: If any of these articles have helped you in any way, please take a moment to share on social media, email to someone you think will find benefit, or print and leave it on the desk of someone whom you believe has the motivation, but lacks the tools to take themselves to the next level.

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Start tracking your time and see where you are spending your time. You don’t need to do it in a complex way. Just start by bucketing it. Email, admin, bookkeeping, just bucket it and see where time is going. Do it for 1–2 weeks and don’t give up; even if it’s difficult.” — Ben Sze

Taking the leap into my own business was very daunting because I didn’t want to give up the paycheck or a potential career in finance that I enjoyed. I recommend you keep a full-time job if you can, and moonlight on your startup so you can get it started. Doing this also has the benefit of not stressing your cash flow situation. We had a period where we were not paying ourselves and it was very tough.” — Ben Sze

Are we going to give this another crack or are we going go get full-time jobs, work half as much, and most likely earn more? What is the worst-case scenario in anything that we do; what is the worst that can happen? We are very fortunate here in this beautiful country in that we can easily take a chance. And if all fails you can go back and get a job. So the take a chance to go and pursue a passion and to pursue a dream. It’s a privilege that we all have. If you’ve got a dream or you’ve got a burning desire, take that chance because the worst-case scenario ain’t that bad.” — David Fastuca

Surround yourself with people that had been there and done that, and can help guide the way. You will still make a hundred mistakes; we made plenty. I remember in a year, we almost shut shop over 5 times. Then there were moments where is was Sunday, and payroll was Tuesday. Business causes a lot of stress. One of our proudest things throughout the whole Locomote journey was that we were able to fund the company, pay everyone, and never miss a payment even when things were dark. For us, Locomote was our opportunity, we didn’t know if we are going to get this opportunity again, we were not going to let it go.” — David Fastuca

Think of all these lateral sort of ways on how you can get financing. For example you don’t need $5M from day dot; you can start small to begin with until you get to that. Try and think laterally. If you have a gun to your head and couldn’t spend that sort of money, how would you do it? This is important because there will be times when you don’t have that money and you need to think like that.” — Dave Fastuca

Having mentors is important. We have mentors now, and had coffee with one of ours the other day. In that coffee we said, “We want to be cash flow positive in X amount of time,” to which he replied, “Be patient. If you can hold out in the long run and be patient, you can build something a lot bigger and better. It is good you have your goals and want to hit those milestones–we all want that hockey stick curve on that growth graph–but just make sure you have patience because then you can really build something great as well.” — Dave Fastuca

Go out and talk to your potential customers and pretend that you are going to sell them something. Get confidence that way. There’s no harm in speaking to potential customers. Maybe, don’t go speak to your premium, gold clients; go speak to your middle tier clients, and cut your teeth on figuring out how to pitch your business, and figure out if people will actually pay for the product or service you offer.” — Ben Sze

With thanks to

Ben Sze is a Co-Founder of Edrolo, an educational tech company that is creating better outcomes for students. Ben points out several key things that fresh founders should keep an eye on — not least of which is time. There’s a time management practice here that you’ll find invaluable.

David Fastuca is a Co-Founder of Ambisie, a business putting entrepreneurs in front of school students to broaden their horizons. David founded his first business at the age of 14 and it has had many different incarnations since then. He says we live in a lucky country where if all else fails, we can just go get a job — so have a crack at founding your own business.

About Masters Series by WeTeachMe

Masters Series is a show about inspiring entrepreneurs, creative thinkers, and visionary dreamers, and the stories behind how they built their companies.

Subscribe to show

Show brought to you by

Masters Series is presented by WeTeachMe.

Our strategic alliance partners: MYOB, SitePoint, and Entrepreneur’s Organization.

Our media partners: Startup Victoria and Digital Marketers Australia.

Our content partners: Written & Recorded.

The views expressed by the contributors on this show are linked websites that are not necessarily endorsed by the publisher.

Question of the day

What was your favourite quote or lesson from this episode? Please let me know in the comments.

Revenue sounds great but being profitable is a lot more difficult. You’ve got to understand the details and the reality is that if you are in a business, or starting a business, you really need to understand the backend of things. It can’t just be just about turning over a lot of revenue and thinking, “I turned over $4M and that means I’m great.” No, it’s not like that at all.” — Jeffrey Gore

People have fantastic brand ideas or business idea, but don’t put in a lot of commercial thinking. This is where people get caught out; they’re in that fun phase of launching an idea and seeing it come to life, but then quickly discover that they have to think about cash flow. We’re the first to admit that we fell into that trap.” — Mia Klitsas

You need to understand the things you’re not good at and the things that you don’t know, then don’t try to do those things. Find people who know that stuff and talk to them the best way you can, or hire them if you can. It took us a long time to figure out. There are certain things that we are not good at yet we try to do them because we’re the boss and we try to do everything. However, it’s not our core skill set and it is better to pay someone to do it.” — Jeffrey Gore

As a tradesman, you don’t know anything about online marketing or websites. Once I reached out to a company to build for the business a website. We burned $90,000 that year and it nearly sent the business bankrupt.” — Tom Harley

Sometimes you just have to go out and learn things. Now I know more about digital marketing now than most people and now have an in-house digital marketing team.” — Tom Harley

Doors started to open once I reached out to other people; people who have their own businesses; accountants and friends whom I went to school with. What we need to know is not in here, it’s out there.” — Tom Harley

It was once just three of us; my dad, my brother and myself. Once I started collecting knowledge from others, doors started to open. After my first business coaching class, I went home and sat in front of the computer and just wrote for three hours. Twelve months later we have 15 staff and are doubling year-on-year.” — Tom Harley

I use to throw $5,000 at a marketing initiative and would sit back and hope that it worked. But testing and measuring is smarter. If you put $200 on something and the leads come in, you must log where the leads are coming in from and find out what the leads cost. What does it cost to acquire a customer? Once you get good at testing and measuring, everything opens because you know with certainty which customer acquisition channels work.” — Tom Harley

I started as a student and I really knew nothing. Arguably now, 13 years in, I still know nothing. I’m good with that because it means that I am constantly pushing myself and challenging myself. I don’t for a second think that I know everything because the minute that you get into that headspace, disruptors come in.” — Mia Klitsas

I am always learning and believe that you can learn from anyone and everyone. Just be open because learning is everywhere.” — Mia Klitsas

With thanks to

Mia Klitsas & Jeff Gore are co-founders of the feminine hygiene brand Moxie. While they have solved the problems of tampons getting lost in handbags, they have created a few challenges for themselves that have been difficult to overcome. Mia and Jeff point out the importance of profit over revenue and focus on what’s important.

Tom Harley is the co-founder of Harley & Sons Roofing. After rounding up his plumbing brothers to work with his dad, Tom has led the way in developing a business that is doubling in size each year. Tom says if you don’t know something you have to get out there and learn it.

About Masters Series by WeTeachMe

Masters Series is a show about inspiring entrepreneurs, creative thinkers, and visionary dreamers, and the stories behind how they built their companies.

Subscribe to show

Show brought to you by

Masters Series is presented by WeTeachMe.

Our strategic alliance partners: MYOB, SitePoint, and Entrepreneur’s Organization.

Our media partners: Startup Victoria and Digital Marketers Australia.

Our content partners: Written & Recorded.

The views expressed by the contributors on this show are linked websites that are not necessarily endorsed by the publisher.

Question of the day

What was your favourite quote or lesson from this episode? Please let me know in the comments.

I need to create space in my life for self-actualisation, to: (1) reflect; (2) define my core values; and (3) define the boundaries where I play.” — Ben Trinh

Your values are what you believe about the world. Your values are the boundaries and the ethical convictions that you consider true in your world. They are not going to be true for everyone and don’t expect them to be as such; they are just true for you. These are the lines you won’t cross no matter how big your business gets.” — Ben Trinh

What are the relationships immediately around you? Who do you bounce off and get energy from? Who do you share your problems with and do they deeply listen? These people are good first employees. They’re good for your first five employees because these people are the early doctors in your business. Our bookkeeper is a great example. When she came in through our doors she had never been a bookkeeper; she was a restaurant manager. But she said to me that she connected with our values, and wanted to be our bookkeeper. She was so clear in her vision that we hired her because you can train competencies but you cannot train character. Well.. you can.. it’s just a lot harder.” — Ben Trinh

You will need hope and vision because you will need both resilience and grit when things get tough. It will give meaning to those moments when you feel like giving up and so I’d encourage you to piece together and deeply understand your vision, your passion, and your strengths. Have a tangible, descriptive picture of what the world looks like when the problem you’re solving is solved. It should be inspiring. It should be something that gets you out of bed every day. This is what will get you through the tough times.” — Ben Trinh

Your business is your team; your clients; the people you surround with. A person by themselves do not make a business. Create a team around you that is based on your values and principles. When you say thank-you to the members of your team, anchor it in your values.” — Demi Markogiannaki

Listen. Always listen. Identify what are the actual problems are that people have. Draw on their feedback and create a solution that will solve their issue. When we did that at WeTeachMe, I knew we were on the right path because people were willing to give money for the solution that I created.” — Demi Markogiannaki

It’s never a good time and it’s never the right time. A lot of people approach me and tell me that they have an idea. Everyone has an idea. However, the person that wins is the person that executes the idea. In contrast, the person who over analyzes will one day turn 50 and they will still be analysing.” — Demi Markogiannaki

It doesn’t matter how many books you read, or how much you think, or how many notebooks you fill with bullet points about the things you plan to do. The important thing is that you actually do something.” — Demi Markogiannaki

In business, suffering is actually good. It’s what brings out the gems, it’s what builds character, it’s where you get your learnings, and it’s the way you humble yourself. So, I’d say in addition to hope, it’s about reframing our thinking around suffering.” — Ben Trinh

I love what Demi said about listening and being an active listener. How can I listen better so that I draw out the key insights? And how do I fail and get through this as fast as I can, so that I can get the learning gems?” — Ben Trinh

Jess and I were new graduates when we started the business and as new graduates, you know nothing. You have no shame asking for help because you come from a university environment where everyone needs to help each other so we had no shame asking for help and really latching on to feedback. We spent a lot of time reflecting and deepening our sense of self-awareness. You need the humility to be open-minded to other things and you also need to be an action person. It’s all great to be a philosopher and sit there and learn about the world, and how you’re terrible person or how you can be better, but if you don’t make your reflections a a tangibility in your life, then you’re not going be on that journey towards self-actualization.”  — Ben Trinh

With thanks to

Ben Trinh is the founder of Life Ready Physio & Pilates. Fresh out of university, Ben realised there was a fundamental problem in the physiotherapist’s business model. His solution has grown to 30 locations and over 300 employees in less than a decade.

Demi Markogiannaki is one of the founders of WeTeachMe. Demi worked with her co-founders to create a solution to help teachers find their students — but that wasn’t the solution they were looking for. After listening to their customers, WeTeachMe grew to become the go-to marketplace offering hundreds of classes to thousands of students.

About Masters Series by WeTeachMe

Masters Series is a show about inspiring entrepreneurs, creative thinkers, and visionary dreamers, and the stories behind how they built their companies.

Subscribe to show

Show brought to you by

Masters Series is presented by WeTeachMe.

Our strategic alliance partners: MYOB, SitePoint, and Entrepreneur’s Organization.

Our media partners: Startup Victoria and Digital Marketers Australia.

Our content partners: Written & Recorded.

The views expressed by the contributors on this show are linked websites that are not necessarily endorsed by the publisher.

Question of the day

What was your favourite quote or lesson from this episode? Please let me know in the comments.

Foreword

One thing I have learned is that for the most part, people express the same idea but they express it in many different ways and with many different words. It is the details in the expression, the words, and combination of words used, that give a story its colour, its texture, and brings it–and its lessons–to life.

We are unique combinations of our beliefs, values and life experiences. Differences notwithstanding, we, and our experiences, are important. Therefore, there is value in compiling and sharing these stories and the multitude of ways in which ideas are expressed. Combined, these stories weave a wonderful tapestry that exemplifies just how rich and beautiful life can be.

And who knows? An inadvertent remark or detail in the retelling of a story can stand to attention and have an impact in the world of a reader. And with that exciting possibility, perhaps the most valuable thing I can do is create the space where the stories of those whom I admire and respect can be shared.

Below are people that I have come across on my own life journey whom I deeply admire and respect. Whether it be their tenacity or courage, or relentless drive or passion, each individual generously reveals a different lens in response to the questions I regularly pepper them with.

As we continue on our sharing over this anthology, I will share tidbits and anecdotes as to why I hold them in such high esteem, and what I love most about them. In turn, I hope that you do too.

What’s something you wish people knew about what it’s like being an entrepreneur?

There’s more to being an entrepreneur than drinking champagne

Andrea Grisdale, Founder and CEO at IC Bellagio, Board Member at Entrepreneurs’ Organization. Bellagio, Lake Como.

I wish people could understand that being an entrepreneur truly means being 360°. In other words, it’s not all drinking champagne, being surrounded by amazing people, and having a team of people working “for you”.

The amount of energy that is required, the number of sleepless nights one endures, the constant questions that inhibit our minds, the constant search to improve and to do better, and the sense of responsibility that an entrepreneur carries on their shoulders are aspects that most people do not see nor understand.

Entrepreneurs top most health statistics on the wrong side

Ben Ridler. Founder at RESULTS.com. Auckland, New Zealand.

Being an entrepreneur is a privilege which affords us a lifestyle that most people think they would love. What many don’t understand is the personal cost.

Entrepreneurs top most health statistics on the wrong side; particularly for mental health where our numbers are appalling. Two thirds are diagnosed with a diagnosed mental health condition, and nearly half diagnosed with with two mental health conditions. We also have higher rates of heart attacks and cancer than most of the people who work for us.

Stress and diet are the two biggest contributors to the state of health in the western world, and as entrepreneurs, we need to be cognisant of the impact of stress, and do everything that we can to offset it. This ranges from diet to mindfulness, and exercise to knowing how to switch off. The way I see it, there is no point in being successful financially, and not having good health.

Having been in this game for a long time now, learning to manage stress and understand the role it plays in health has been a big part of my journey. Full disclosure, I thought I was handling it OK, and by OK I thought that drinking a bottle of wine each night and having a “blow out” on the weekends was “business as usual”.

After exiting my last venture, I decided to focus on health and relationships before rushing into my next venture. In that time, I changed my relationship with health, money and ultimately myself. Learning why we need release valves and choosing ones that were better for my health was a big move. Moving away from alcohol also made me learn to deal with emotions instead of charging on and ignoring them.

Learning about sympathetic and parasympathetic nervous systems and how to not stay in a stressed state for long periods was also lifesaving; my way of operating was not sustainable.

The sad fact is that few entrepreneurs have long careers because it’s a brutal, life-shortening role and comes with huge cost. For example, with COVID-19, many entrepreneurs have to let people go, and making those tough calls isn’t something we do without it taking a huge toll on ourselves (as well as the people it impacts).

Ultimately, redefining success and creating a vision for myself that was not about what I could attain but who I could become, and the values that I will live, has been a journey. As I head back into the world of business, I’m excited about testing this new approach to managing energy and health as part of my journey to be the best that I can be.

The mind of an entrepreneur is a gift and a curse

Daniel Dickson, Managing Director at Amarco Enterprises. Sydney, Australia.

I wish people understood the sheer amount of thought pattern processes and activity in the mind of an entrepreneur, and the way they see opportunities when other don’t. It’s the gift, and at the same time the curse, of an entrepreneur.

There are approximately 70,000–80,000 thoughts that adult humans have each day. I often feel that there are 140,000 thoughts that go through my mind before lunchtime, so I think the biggest thing is how to understand and harness that the energy and enthusiasm of an entrepreneur who often don’t put time against capabilities and abilities to perform tasks in that time i.e. they often overcommit and often complete things up to 75%.

The mind is more flighty, and definitely more scattered, but the part of the brain that triggers fear around risk is often more relaxed in an entrepreneur and, although they will be calculated, they are still stronger risk-takers than others.

You’re working 80+ hours a week for yourself so that you avoid working 40 or so hours for someone else

David Fastuca. Founder at Ambisie, Founder at Locomote. Melbourne, Australia.

Being an entrepreneur means you’re basically working 80+ hours a week for yourself so that you avoid working 40 or so hours for someone else.

So whatever you’re doing, make sure you really care about the problem you’re solving because you’re going to be tested many times throughout your journey.

What distinguishes entrepreneurs from non-entrepreneurs is their appetite for risk

Jamie Skella. Chief Operating and Product Officer at Mogul, Former Chief Product Officer at Horizon State. Melbourne, Australia.

People often believe that entrepreneurs are more ruthless, or more creative, or more driven, or more intelligent, or are otherwise “ideas people”. Yet, the key difference between entrepreneurs and non-entrepreneurs is simply their appetite for risk. What are you willing to risk to become your own boss? To pursue a new idea?

After all, your endeavour may fail. It will in fact fail 9 out of 10 times. The odds are stacked against you.

In the meantime, you’ve sacrificed time with friends, job security, perhaps even the stability of your marriage. So, is what you’re passionate about worth that sacrifice, even if it all ends up failing? That is what it means to an entrepreneur, and that is what separates everyone else from them.

Kym Huynh. Founder at WeTeachMe, President at Entrepreneurs’ Organization. Melbourne, Australia.

If you change the way you look at the world, your world will change

Being an entrepreneur gives you countless opportunities to practice making conscious and intentional choices in: (1) keeping things simple; and (2) choosing how we approach problems/reach to events.

I’m in constant amazement with: (1) how prone people are to making things more complicated than they need be; and (2) how quickly people get bogged down with the little details i.e. things that won’t matter in 10 years’ time.

On simplicity: The act of keeping things simple, is complex (and dare-I-say the ultimate sophistication). Simple problems require simple solutions. Complex problems require even simpler solutions. This type of thinking is rare.

On how we look at problems: The idea–that things that can signal the end of the world to one person and can result in what I call “analysis paralysis” or “constipation via contemplation” can be inconsequential to another–is an intriguing one, and speaks to the idea that how one looks at the world is how one experiences the world. For example, where one sees obstacles and problems, another sees opportunities for learning and growth. In the former, life is a struggle. In the latter, life is a journey of learning, expansion and growth.

How you look at the world is how you experience the world. In other words, if you change the way you look at the world, your world will change.

No one sees the grind, the long nights at the dining room table while the partner and children sleep, and the hours glued to the computer screen while friends are out having fun

Matt Woods. President at Coastal Mountain Excavation. Whistler, Canada.

As an entrepreneur, you have a blank canvas to build your future. You have the freedom to create a lifestyle and business you’ve always dreamed of, and once you’ve been at it for a while, you really get to see what you’re made of.

Having a normal job and being an employee for some people is enough i.e. working 9–5 and going home to the family at the end of the day and leaving your work behind is enough. For an entrepreneur, however, it’s never enough. The thrill of the hunt, and working and grinding like you’ve never known possible is so ultimately satisfying that it makes all the long days and nights worth the struggle.

For me any challenge or roadblock is just another opportunity to buckle down, problem solve, and work my way through any situation that in the past I would have considered impossible. It’s the ultimate opportunity to prove to yourself who you really are, show yourself what you’re made of and what you’re capable of.

The sense of accomplishment, of self-satisfaction, of gaining confidence, of leading people, and of building something together is incredibly rewarding. It’s not the destination that matters at all, it’s the journey and the lessons learned along the way that really teach you what the human brain and body can endure for an extended period of time.

There is also no such thing as an overnight success. Most people think entrepreneurs have a great idea and somehow, boom, overnight, they’re incredible wealthy and successful. No one sees the grind, the long nights at the dining room table while the partner and children sleep, and the hours glued to the computer screen while friends are out having fun.

It’s all the toiling, the will and the fight that entrepreneurship gifts you. Sometimes it’s really hard to appreciate it, but you need the experience, the wins, the losses, the grit, and the determination to see it through to completion that allow you to look back and be extremely proud of yourself.

Entrepreneurs are the crazy ones

Raymond Chou. Founder and CEO at Infront Consulting APAC. Kuala Lumpur, Malaysia.

Many people start their entrepreneurial journey reading about someone successful in a magazine article or Facebook post, and think to themselves, “I want to be rich and time-free like him/her”. And then once the business starts, reality hits EXTREMELY HARD because they discover that the two things they don’t have are: (1) money; and (2) time. Ironic isn’t it.

And then there are some that start their business because they have a different driver, motive or purpose, and no matter how hard things get, they keep on keeping on.

Steve Jobs once said: “Entrepreneurs are the crazy ones. The ones who push the boundaries. Who don’t say no. Who never seem to die.”

Entrepreneurship is tough! On many days most of us will say, “This is not worth it,” because it affects not only ourselves but everything and everyone around us. But those of us who are successful push forward because in some way, we want to change the world; even just a little bit.

We work 16 hours a day so we don’t have to work 8 hours a day

Ron Lovett. Founder and Chief Alignment Officer at Connolly Owens, Founder and Chief Community Officer at Vida Living, Author at Outrageous Empowerment. Halifax, Nova Scotia.

We work 16 hours a day so we don’t have to work 8 hours a day.

Entrepreneurs can see the future well before others

Tony Falkenstein. Founder and CEO at Just Life Group Limited, Founder and CEO at Just Water, President at Entrepreneurs’ Organization. Auckland, New Zealand.

One estimate is that non-entrepreneurs make up 92% of the population. Even if it is a little less or a little more, the fact is that most people are non-entrepreneurs, and think very much the same way. Non-entrepreneurs do not realise that entrepreneurs think so differently.

Entrepreneurs can see the future, well before others even start the process. So, entrepreneurs see the end result and go backwards to the start position, while non-entrepreneurs start at the beginning and work through a process.

The entrepreneur’s mind is like a computer insofar as it does the analysis so quick that it arrives at the end result within seconds. Once non-entrepreneurs understand this, they can go through the process from the beginning, as a check on the entrepreneur’s end result (when they work together).

I’ll caveat this with stating that the entrepreneur’s end result is not always right, so the non-entrepreneur’s check is important, but it shouldn’t slow down the entrepreneur moving forward.

What do you think?

Do you agree or violently disagree with anything shared in this article? Or do you have any of your own stories that you want to share? Pop them in the comments and I will personally reply.

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