Discover The Secret To Entrepreneurial Success: Jeff Davis On Mastering Passion And Resilience
In this episode with Jeff Davis, we dive into the fundamental role of learning from failures on the entrepreneurial journey. Jeff highlights how perseverance and crafting a strategy tailored to your unique path are key to unlocking success. Rather than fearing setbacks, Jeff encourages embracing them as powerful opportunities for growth and transformation. Tune in to discover how to turn challenges into stepping stones toward success!
Watch this full episode on youtube: https://youtu.be/Lc5j8JRYN-E
About Jeff Davis
Jeff Davis is the Chairman and Founder of 12 Mavens, an exclusive, invitation only community for CEOs and entrepreneurs. A multi-business owner by his 30s, Jeff built and sold multiple national companies, including a medical-legal trial presentation company, and has been featured in Fortune Magazine, CNN Money, and Inc Magazine. With a diverse background in fine arts, litigation support, and even dissecting cadavers, Jeff brings unique insights to his ventures. He is also the founder of the strategic planning event Plan The Attack and a keynote speaker, inspiring leaders worldwide.
Please click here to learn more about https://www.12mavens.com/
About Brad Sugars
Internationally known as one of the most influential entrepreneurs, Brad Sugars is a bestselling author, keynote speaker, and the #1 business coach in the world. Over the course of his 30-year career as an entrepreneur, Brad has become the CEO of 9+ companies and is the owner of the multimillion-dollar franchise ActionCOACH®. As a husband and father of five, Brad is equally as passionate about his family as he is about business. That’s why, Brad is a strong advocate for building a business that works without you – so you can spend more time doing what really matters to you. Over the years of starting, scaling and selling many businesses, Brad has earned his fair share of scars. Being an entrepreneur is not an easy road. But if you can learn from those who have gone before you, it becomes a lot easier than going at it alone.
Please click here to learn more about Brad Sugars: https://bradsugars.com/
Build a Business That Gives You More Time, Money & Life:
Get The $100M Playbook: https://go.bradsugars.com/100m-playbook-ebook
2024-10-12
8 min
Transcript
2 chapters
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Transcript
WEBVTT 00:00:00.161 --> 00:00:01.685 <v Speaker 1>You guys want to know the secret. 00:00:01.685 --> 00:00:07.383 <v Speaker 1>The one thing that you do this and everything starts clicking like magic. 00:00:07.682 --> 00:00:10.009 <v Speaker 2>Jeff Davis, serial entrepreneur. 00:00:10.009 --> 00:00:16.740 <v Speaker 2>In today's session, when we talk about how to lead leaders, when we talk about how to build a great lead generation, when you have something that works. 00:00:16.922 --> 00:00:19.829 <v Speaker 1>You know it's a matter of time before more people will use it. 00:00:19.829 --> 00:00:22.405 <v Speaker 1>More people will use it and then it gets diluted. 00:00:22.405 --> 00:00:29.940 <v Speaker 1>If I can get my business to run with or without me, how? 00:00:29.960 --> 00:00:30.621 <v Speaker 2>much more could I sell it for? 00:00:30.621 --> 00:00:31.483 <v Speaker 2>And he said probably about 40%. 00:00:31.483 --> 00:00:32.244 <v Speaker 2>I almost spit my water in his face. 00:00:32.244 --> 00:00:32.906 <v Speaker 2>How do you define success? 00:00:32.906 --> 00:00:36.073 <v Speaker 2>What's your definition, or what is success to you, To me? 00:00:36.359 --> 00:00:51.454 <v Speaker 1>success is well-rounded success If somebody has great revenue or they're making a great income but they're out of shape, they're not healthy, they're depressed, they're burnt out, they're not enjoying life. 00:00:51.454 --> 00:00:54.283 <v Speaker 1>It's more of a full spectrum success. 00:00:54.383 --> 00:00:56.326 <v Speaker 2>Where did you choose success? 00:00:56.326 --> 00:00:57.630 <v Speaker 2>At what age do you remember? 00:00:57.630 --> 00:01:02.189 <v Speaker 2>Was it a particular thing, a particular time where you chose hey, I'm going to be successful in life. 00:01:02.560 --> 00:01:20.921 <v Speaker 1>I think it was the point where I got a job right out of grad school and was just learning the industry that I wanted to start my own company in, and after a couple of years for me, I put myself through every kind of training, education, boot camp. 00:01:20.921 --> 00:01:28.599 <v Speaker 1>I walked in to a library this is back in the day, you know I go into a library, go to the audio cassettes, everything. 00:01:28.599 --> 00:01:29.159 <v Speaker 1>I was obsessed. 00:01:29.159 --> 00:01:37.394 <v Speaker 1>I would get everything I could consume and really just try to brainwash myself in a positive way. 00:01:37.939 --> 00:01:39.766 <v Speaker 1>How does success happen in your mind? 00:01:39.766 --> 00:01:55.030 <v Speaker 1>It happens in a number of ways and you made me think of a time I was asked to speak to this big room of people young, up and coming aspirational entrepreneurs and I grabbed the microphone and I looked around the room. 00:01:55.030 --> 00:02:05.593 <v Speaker 1>I said you guys want to know the secret to the one thing, the one thing that you do this and everything starts clicking like magic. 00:02:05.593 --> 00:02:07.667 <v Speaker 1>I said can we lock the door in the back? 00:02:07.667 --> 00:02:09.765 <v Speaker 1>Is there anybody coming? 00:02:09.765 --> 00:02:13.199 <v Speaker 1>And everybody's kind of you know, getting their pens out and getting all excited. 00:02:13.640 --> 00:02:25.169 <v Speaker 1>And I said here's the secret is that there is no one thing, it's a lot of things, it's hard work, it's believing in yourself, it's a bunch of different skill sets that you have to really work at. 00:02:25.169 --> 00:02:25.771 <v Speaker 1>It's believing in yourself. 00:02:25.771 --> 00:02:28.282 <v Speaker 1>It's a bunch of different skill sets that you have to really work at. 00:02:28.282 --> 00:02:31.368 <v Speaker 1>It's resilience, it's perseverance. 00:02:31.368 --> 00:02:46.471 <v Speaker 1>It's not just one thing, because I know some really smart people, I know some really successful people, and I've yet to meet anyone who hasn't had a million explosions blow up in their face along the way. 00:02:46.879 --> 00:02:47.983 <v Speaker 2>Failure teaches. 00:02:47.983 --> 00:02:50.971 <v Speaker 2>It gives us a lesson every single time. 00:02:50.971 --> 00:02:55.012 <v Speaker 2>What's the biggest lesson you've taken from one of your so-called failures? 00:02:55.520 --> 00:03:14.514 <v Speaker 1>Some of my own personal lessons that I've learned was not being too nice, not being too trusting, not pushing your strengths too far, if that makes sense, because your biggest weaknesses usually are the result of you pushing your strengths a little too far. 00:03:15.302 --> 00:03:18.060 <v Speaker 2>Yeah, that double-edged sword type thing is very important. 00:03:18.962 --> 00:03:20.528 <v Speaker 1>Yeah, being conscious of that. 00:03:20.879 --> 00:03:23.247 <v Speaker 2>How do we succeed at starting a company? 00:03:23.247 --> 00:03:24.912 <v Speaker 2>We'll get to selling it in a little while. 00:03:24.912 --> 00:03:25.981 <v Speaker 2>But how do you succeed at starting a company? 00:03:25.981 --> 00:03:28.187 <v Speaker 2>We'll get to selling it in a little while but how do you succeed at starting a business? 00:03:28.207 --> 00:03:38.867 <v Speaker 1>Starting a business, I always like to compare it to that scene in Braveheart, where there's that big field, they're all lined up and then you see, on the two sides they're just running towards each other. 00:03:38.867 --> 00:03:41.741 <v Speaker 1>I tell entrepreneurs, that's kind of what year. 00:03:41.741 --> 00:04:00.423 <v Speaker 1>One feels like it's a bloody war that you have to be prepared for, and that's why I think entrepreneurs are modern day gladiators, because the statistics are that 96 out of every 100 startups will not celebrate a 10 year anniversary. 00:04:00.710 --> 00:04:02.195 <v Speaker 2>So how do we succeed at that? 00:04:02.195 --> 00:04:05.340 <v Speaker 2>Then, if we know we're going into battle, how do we succeed at it? 00:04:05.550 --> 00:04:31.735 <v Speaker 1>You have to eat a lot of poop sandwiches, and so the thing that you're the startup, you have to love it and be so passionate about it and obsessed with it that it's worth eating all of these poop sandwiches, because after a while of eating those that drive, you start to lose that push to fight through all those obstacles. 00:04:31.875 --> 00:04:36.190 <v Speaker 2>You're also massively passionate about lead generation and converting the sale. 00:04:36.190 --> 00:04:38.533 <v Speaker 2>How do you succeed at lead generation? 00:04:38.774 --> 00:04:46.514 <v Speaker 1>It is such a moving target already in marketing, when you have something that works oh my God, it's working, we're getting the. 00:04:46.514 --> 00:04:47.536 <v Speaker 1>You know we're getting. 00:04:47.536 --> 00:04:48.199 <v Speaker 1>This is happening. 00:04:48.199 --> 00:04:48.821 <v Speaker 1>This is going here. 00:04:48.821 --> 00:04:50.452 <v Speaker 1>Oh, perfect, the plan is working. 00:04:50.452 --> 00:04:54.142 <v Speaker 1>You know, it's a matter of time before more people will use it. 00:04:54.142 --> 00:04:56.759 <v Speaker 1>More people will use it and then it gets diluted. 00:04:56.759 --> 00:05:02.759 <v Speaker 1>So the world of lead generation and marketing is getting turned on its head right now. 00:05:02.759 --> 00:05:07.117 <v Speaker 1>Forget the pandemic, forget inflation, forget a recession. 00:05:07.117 --> 00:05:12.281 <v Speaker 1>Ai is changing all the rules right now. 00:05:12.281 --> 00:05:23.201 <v Speaker 1>It's testing, it's measuring and then optimizing, and when something starts to work, really go after it. 00:05:23.550 --> 00:05:28.041 <v Speaker 2>How do we succeed at converting those leads into actual sales? 00:05:28.990 --> 00:05:38.069 <v Speaker 1>Yeah, I think the more you can have a winning replicable process, the better chance you have of those conversions. 00:05:38.591 --> 00:05:41.500 <v Speaker 2>What are the keys to building something that is saleable? 00:05:41.500 --> 00:05:41.990 <v Speaker 2>It? 00:05:42.050 --> 00:05:44.560 <v Speaker 1>takes real, specific, intentional actions. 00:05:44.560 --> 00:05:52.581 <v Speaker 1>I always feel bad for the person that decides they're ready to sell the business and I think, oh man, too bad you didn't start that plan three to five years ago. 00:05:52.581 --> 00:06:01.228 <v Speaker 1>Because I think you need to map out a detailed plan for how you can get your business to run, with or without you. 00:06:01.228 --> 00:06:09.749 <v Speaker 1>To the degree that you are involved in the business is the degree that the valuation will go down. 00:06:09.988 --> 00:06:15.322 <v Speaker 1>I remember my mentor who said you're too entrenched in your business, you're going to get the key man discount. 00:06:15.322 --> 00:06:16.690 <v Speaker 1>And I said what's that? 00:06:16.690 --> 00:06:22.141 <v Speaker 1>And he explained it and I said well, if I can get my business to run with or without me, how much more could I sell it for? 00:06:22.141 --> 00:06:28.639 <v Speaker 1>And he said probably about 40%, and almost spit my water in his face you don't need much more motivation. 00:06:28.639 --> 00:06:49.286 <v Speaker 1>But so I got to work on mapping out a detailed plan, like over the years, to transition myself, which then the next step of that is building out a leadership team that can start taking things off your plate little by little, more and more, to the point where you're almost trying to make yourself obsolete, which then goes into the next thing, which is mastering delegation. 00:06:49.670 --> 00:06:55.783 <v Speaker 2>What's the difference between the CEO that sets a million dollar goal and the CEO that sets a billion dollar goal? 00:06:55.790 --> 00:06:56.533 <v Speaker 1>I think you said it in the question. 00:06:56.533 --> 00:06:58.562 <v Speaker 1>One of them is setting a million dollar goal, the other one has a mentality of a billion dollar goal. 00:06:58.562 --> 00:06:59.305 <v Speaker 1>I think you said it in the question. 00:06:59.305 --> 00:07:04.879 <v Speaker 1>One of them is setting a million dollar goal, the other one has a mentality of a billion dollar goal. 00:07:04.879 --> 00:07:12.302 <v Speaker 1>The most successful people think in massive scale and then it becomes a matter of believing it and then reverse engineering. 00:07:12.302 --> 00:07:14.314 <v Speaker 1>All right, how am I going to get there? 00:07:14.574 --> 00:07:16.420 <v Speaker 2>And that's a big success podcast for today. 00:07:16.420 --> 00:07:23.358 <v Speaker 2>Hopefully, you took a lot of notes, learned a whole bunch and, if you need to go re-listen to it, we dropped a lot of information right there today. 00:07:23.358 --> 00:07:28.370 <v Speaker 2>Big success is what it's all about and, by the way, if you haven't subscribed, hit that subscribe button. 00:07:28.370 --> 00:07:32.475 <v Speaker 2>So you're here with us every single week on the Big Success Podcast. 00:07:32.475 --> 00:07:33.278 <v Speaker 2>I'm Brad Sugars. 00:07:33.278 --> 00:07:33.899 <v Speaker 2>That's BS. 00:07:33.899 --> 00:07:35.954 <v Speaker 2>Big success is what we're shooting for. 00:07:35.954 --> 00:07:38.639 <v Speaker 2>What we're shooting for Check the show notes for all the links. 00:07:38.639 --> 00:07:51.357 <v Speaker 2>Make sure you follow through keep learning, keep coming back. 00:07:51.437 --> 00:07:54.180 <v Speaker 3>Oh and, by the way, share this with any of your friends who you know are up for success. 00:07:54.180 --> 00:08:00.607 <v Speaker 3>I'll see you next week on the Big Success Podcast, sugars, to learn more about how to achieve business and personal success, as well as how to level up.