Sep 2nd, 2020 by accelerate
It's been a true pleasure to get to know Tom Ferry over the last year. We both have a passion for entrepreneurs and startups and interviewed each other for perspective and stories. If you don't know Tom, he's a force of nature and #1 coach for real estate professionals. He's also CEO of Ferry International, and a markeing and social media maven.
We did a podcast crossover and talked about what entrepreneurial traits and skills entrepreneurs need to succeed, the difference between a side hustle and a business, having an open mind to create new plays that work for your business and the necessary steps you have to take to promote and encourage entrepreneurship in the community.
6:47 – What makes a good founder? Listen to find out!
10:06 – These are the mistakes to avoid when giving your business pitch
21:22 – Maybe you should start a side hustle that can ultimately create a breakthrough in the long run!
24:55 – It’s going to be really hard if you just start with $0 when starting a full-time business
29:20 – Are you clear in your customer needs and does your business have legal help?
32:30 – Always be on the lookout for new plays to implement in your business
35:53 – How the financial crisis of 2008 impacted startups still to this day
37:55 – “I see a renaissance on the horizon.”
40:44 – Why the next big wave will be created by the collective intelligence of people
42:26 – “The education system of today is built on a manufacturing economy… we’ve been pushing manufacturing out of this country for decades.”
45:28 – Why imagining “the complete opposite” might help you resolve a challenge
53:45 – Steps being taken to promote and encourage entrepreneurship
56:44 – The importance of seeking mentors who are further down the path you want to travel
58:30 – A valuable reality Mike Vance taught Tom: It’s hard to get the lesson from an experience you’re not having
1:03:07 – “Give a huge amount of value to the world, and you’ll live a great life.”