3 Key Points:
- Building a business is not like buying a lottery ticket. You need to build your business one step at a time.
- Write down your goals and prioritize them by assigning them a value—that’s the only way you’ll ever realize them.
- If you can find a way to systemize the production of a product or provision of a service, you’ll 10x your income overnight and dramatically reduce your workload.
- [01:35] – Jamie has an amazing ability to visualize the big picture
- [01:59] – “Inspire other people by transferring enthusiasm”
- [02:43] – We have fallen victims to the following myths: the myth of the entrepreneurial giant, the myth of passion, and the myth of doing something big.
- [03:30] – Jamie explains the myth of the entrepreneurial giant. Any prominent organization is built by a team of people, and not just one man.
- [04:10] –We need to refocus and think about helping other people
- [04:42] – Building a business is not like buying a lottery ticket. You need to build your business one step at a time.
- [05:32] – Worst Entrepreneurial moment: Jamie started his first business in 2009. He was swayed by statistics and his business folded up in a few months after his partner decided that he wanted to move in a different direction. He was left with $700, which he started a new contracting business with. While on the job, Jamie fell off a twenty-foot-high roof and almost died.
- [09:42] – “You never know what’s going to happen”
- [10:55] – Entrepreneurial AH-HA moment: Induction of systemization into the contracting business, which enabled Jamie to step back and let employees execute their work in a flawless manner. Systems were the reason Jamie’s competitor ultimately purchased his business from him.
- [13:20] – Jamie suggests penning down your thoughts on a piece of paper.
- [17:00] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – “I wasn’t leading my life intentionally with purpose. I was too busy partying as a young man”.
- What’s the best piece of advice you’ve ever received? – “Plough your own field”.
- What’s a personal habit that contributes to your success? – “I write down my goals and assign them a value, and I prioritize based on the most important to the least important, and I review them every single day”.
- What is your number one goal today? – “My number one goal today is to add value to your audience and I think I am achieving that”.
- [18:33] – What advice do you have? – “Systemize your business so that it can operate without you; that will give you something that you can sell.”
- This podcast interview was originally aired on EOFire and aired on August 25, 2017.
If you enjoyed this interview, then you will love my new book The Blueprint of a Great Business! This book is for self-employed people with service-based businesses that want to provide for their families and create freedom and flexibility in their lives.