3 Key Points in this Episode:
- Have a vision of where you are taking your business and pursue your dreams.
- Take risks in business at an early age before you have the responsibilities of a family.
- Put in the daily effort to achieve your vision of where you are going to take the business.
An Interesting Interview with a Great Entrepreneur (1:37)
Shaun Ghulam is the CEO of DMINDED an Award-Winning Creative Agency located in Downtown Brampton, Ontario, Canada. He’s an influential entrepreneur and is dedicated to helping business owners fulfill their dreams through his experiences.
Find Your Blueprint (2:12)
Put in the daily effort to achieve your vision of where you are going to take the business. Don’t get sidetracked by potential opportunities that take you away from your vision and what you are trying to accomplish.
Remove Your Barriers (4:28)
Starting off Shaun had a lot of jobs and was fired 16 times before he realized that he needed to be an entrepreneur. Dealing with the failure and rejection repeatedly was very hard to handle.
Fully Express Your Greatness (7:08)
Shaun was home-based for 6 years but finally, Shaun was able to take the plunge and open his first office. There was a personal moment where he took in the fact that he had made it.
Advice for Your Younger Self (9:35)
“Take risks in business at an early stage of your life.”
Teaching Moment (13:28)
You are going to have obstacles, barriers and people will try to bring you down.
- Stay positive by focusing on something that makes you feel grateful, motivates you and create a vision board that helps you to stay focused on what is important.
- Remember why you started to fuel you to keep going no matter what even when you face a barrier if something goes wrong you should analyze what happened and learn from it.
- Believe in yourself and when you have doubt in yourself look at past wins and remember that you have done great work in the past.
- Keep moving forward no matter what, when things are not going your way sometimes the best thing you can do is take a break and regroup.
Contact Shaun: Website
How to Make More Money (22:08)
Never giving up ensures that you continue working at pursuing your dreams but doesn’t ensure that you make more money. In fact, you could be working harder than you ever have before and be losing money every month!
Having a dream is also no guarantee that you will make enough revenue to fund your life. Some of the biggest ideas that help millions of people are based in charity after all.
To make more money while tenaciously pursuing a dream you need to have a business model that is profitable and can scale over time.
Let’s break that down into its core components:
- You need a business model. Like building a home you need a solid foundation and framework to build your business. Basically, you need a method of attracting prospects, converting them into customers, and earning a profit.
- Being profitable means that you earn net income (after every last expense has been paid including taxes and other government fees) that provides a return on investment greater than the average return on investment of investing in index funds and other stable investment options. Otherwise just read Unshakable by Tony Robbins and save yourself all the hardship of building and operating a business.
- The business must also scale overtime, otherwise, inflation will erode the initial return on investment and eventually you will be unprofitable.
Your homework this week is to analyze your business model and make sure it has all three of these components. If it doesn’t and you would like to strategize on how to make your business model meet all the criteria connect with me and let’s help you make more money!
Family First (24:19)
Families, like businesses, in my opinion, do much better when they are pursuing a dream that is larger than the individual people who make up that family.
Legacy can be a powerful influencer in a family.
When a legacy is motivated by a deep desire to benefit others it can help each individual member of the family to have a purpose in life and to find their own path while contributing to something far greater than just personal wealth or achievement.
It makes me sad to see many families who in generations past had dreams and legacy now seem to be only driven by greed. The fact is most families in North America were poor immigrants at some point in their history. For example, my family came to North America in the 1830’s.
As we close in on 190 years in Canada we have benefitted tremendously and every one of us is wealthy in comparison to our ancestors who made ridiculous sacrifices to make a better life for their immediate families and the generations that proceeded them.
I admire the families that I shared a street with when I lived in the Vancouver area, they came from places like India, China, and the South Pacific. They worked together, lived together, and thrived together.
My point is this: It is valuable to do a self-examination of the things that motivate our family and maybe it’s time to sit down together and discuss what we are doing today and let’s make sure that our descendants will look back on what we are doing and be proud of and grateful for those efforts.
This episode sponsored by:
Every business needs a website and I have used Gerrit and Trackstar Web Design since 2012 and so should you.
If you are hiring a new employee, I highly recommend that you use the Screen2Fit recruitment platform by Pro.File.
I use FreeeUp to find high-quality freelancers to help me run my business and you should as well.
Thank you for listening and I look forward to working with you soon.