Entrepreneurship: Smart Passive Income with Pat Flynn: How to Play the Long Game in Business and Win in Life with Dorie Clark
My big 3 take-aways:
- Myth: Success is making $100 more per year than your brother-in-law
Social media is the ultimate multiplier to this myth and only enforces short-term thinking. It is easy to fall into the trap of comparing our successes to those around us, and there is always a bigger fish in the sea. Instead, focus on the long-term by leaning into the values that drive your “Why”.
- You can’t read a label when you’re inside the bottle
Creating a group of trusted advisors who can see your business in a different lens is vital. These people should have business judgement that you trust. One potential weak point can be focusing too much on building your network within your client base (while valuable), and missing out on the value of building relationship with your successful peers. These people are not your competitors; rather, they can offer support and insight to how you can improve your business.
- Keep the power to say “No” by limiting your personal expenses
Especially when in the early stages of your business, keeping your personal living expenses low gives you the ability to make impactful decisions for the long run in your business and not feel pressured to cash out for a short run need.