Speaker at an event: how would you answer these questions?

[Antifragile]

I was invited to speak to a group of young people (focused on real estate and entrepreneurship). They submitted questions in advance and organizers of the events posted them to me.

There are so many successful entrepreneurs here and reality is, this upcoming event isn't about me. The worst thing I can do is to stand on a soap box and tell them all about me, me and me... I hate it when people do that. Instead, I'd love to offer them something actionable and valuable.

This is where I hope FLF folks can help me dial in better and more actionable answers.

How would YOU answer the following questions?

On Entrepreneurship

• Early on in your career, how did you stand out from the crowd? How does one stand out from the crowd now?
• What does the idea of “work-life balance” mean to you? How did manage your work life balance in your career? My understanding is that most entrepreneurs/company founders have to work around the clock.
• Many folks, including those in the audience, have a business idea that they want to bring into reality. What are the possible next steps? What questions should they be asking themselves? How to get past the “what now?” stage and get traction?
• How did you transition from working for employers to working for yourself?
• How did you “stay the course”? Looking back, if you had to do it all again, were there other career choices/paths you would be interested in trying (other industries etc.).
• Who do you look up to as a mentor?
• How do you go about business development and securing new clients/investors?
• What was the first project you worked on as an entrepreneur? What projects are you currently working on?
• When you are looking to hire a young professional (like someone in the audience) what would be your recommendation to be a strong applicant?
• What does the future of your business look like?

Using some of your responses, I hope to be more helpful to the 20-30 years olds attending. And best of all, some readers here may also find it useful.

Tagging: @MJ DeMarco (although you've done enough explaining in your books, feel free to ignore this thread!), @Kak @SteveO @fastlane_dad @NeoDialectic @MoneyDoc @MTF (please tag anyone else that I may have missed but would be awesome at adding value here).

Thanks in advance for your time!

 

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[msufan]

I was invited to speak to a group of young people (focused on real estate and entrepreneurship). They submitted questions in advance and organizers of the events posted them to me.

There are so many successful entrepreneurs here and reality is, this upcoming event isn't about me. The worst thing I can do is to stand on a soap box and tell them all about me, me and me... I hate it when people do that. Instead, I'd love to offer them something actionable and valuable.

This is where I hope FLF folks can help me dial in better and more actionable answers.

How would YOU answer the following questions?

On Entrepreneurship

• Early on in your career, how did you stand out from the crowd? How does one stand out from the crowd now?
• What does the idea of “work-life balance” mean to you? How did manage your work life balance in your career? My understanding is that most entrepreneurs/company founders have to work around the clock.
• Many folks, including those in the audience, have a business idea that they want to bring into reality. What are the possible next steps? What questions should they be asking themselves? How to get past the “what now?” stage and get traction?
• How did you transition from working for employers to working for yourself?
• How did you “stay the course”? Looking back, if you had to do it all again, were there other career choices/paths you would be interested in trying (other industries etc.).
• Who do you look up to as a mentor?
• How do you go about business development and securing new clients/investors?
• What was the first project you worked on as an entrepreneur? What projects are you currently working on?
• When you are looking to hire a young professional (like someone in the audience) what would be your recommendation to be a strong applicant?
• What does the future of your business look like?

Using some of your responses, I hope to be more helpful to the 20-30 years olds attending. And best of all, some readers here may also find it useful.

Tagging: @MJ DeMarco (although you've done enough explaining in your books, feel free to ignore this thread!), @Kak @SteveO @fastlane_dad @NeoDialectic @MoneyDoc @MTF (please tag anyone else that I may have missed but would be awesome at adding value here).

Thanks in advance for your time!

On "work-life balance" -- there will be stretches where you need to put in your dues and have things not balanced at all. You will spend an over-abundance of time on work for that period so that you can spend an over-abundance of time on life later.

 

[Andy Black]

@Vigilante had a thread years ago where he gave a presentation to a group of students in a college.

 

[Antifragile]

@Vigilante had a thread years ago where he gave a presentation to a group of students in a college.

Thanks Andy. But these aren’t students. Mostly young people with jobs already in RE, but just starting out.

I’d love to hear from you on any of the above listed questions, as you have a great way of helping people here.

Also, @Private Witt - you’ve been around the block a few times! Would love it if you could take on a few questions too.

 

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[MTF]

Early on in your career, how did you stand out from the crowd? How does one stand out from the crowd now?

I stood out from the crowd by being prolific and persistent. I don't mind doing the same thing over and over again, and lots of it. Few people have such self-discipline these days.

The best way to stand out from the crowd today is to think for yourself and keep modern society at a healthy distance away from yourself. It's rare these days because most people are mindlessly tuned in to social media, influencers, the current thing, etc. Consequently, they let other people not only think for them but also plant specific emotions (such as fear) and values (such as egotism).

Turn that shit off and go do something by yourself (ideally in nature, away from distractions) where your mind will be free to be creative on its own, without others dictating what it should feel and think.

What does the idea of “work-life balance” mean to you? How did manage your work life balance in your career? My understanding is that most entrepreneurs/company founders have to work around the clock.

Most entrepreneurs waste a lot of time on bullshit tasks that have little impact on their businesses. If you focus on the 1-2 key tasks, you're going to be way ahead of those who are doing 100 things at once.

As for work-life balance, I'm a big believer in running a business that doesn't feel like work. For me, running a content-based business doesn't feel like work while having an agency and working with clients and meeting deadlines would (I know from experience). So I'd start by prioritizing proper founder-business/market fit.

Other than that, the best performers need to periodically go to one extreme to get extreme results. Always trying to be balanced is a sure-fire recipe for mediocrity.

If you want to be great, sometimes you won't have much life. But eventually you'll be able to swing back and go to the same extreme with your life. For example, you'll spend weeks working a lot on your business but then, assuming you worked effectively, you'll be able to take some time off and fully recharge.

Many folks, including those in the audience, have a business idea that they want to bring into reality. What are the possible next steps? What questions should they be asking themselves? How to get past the “what now?” stage and get traction?

• Is there anyone else already doing it? If not, don't do it. Competition signals there's a proven market. A lack of competition usually doesn't mean that you're a genius. Rather, it means that the idea is not going to work.
• What is the fastest, cheapest, and simplest way you can test your idea?
• Can you see yourself being able to dedicate yourself to this project for 5-10 years and consistently get better?
• Does your business help people in a real, easy to describe way?
• Do you care, in some way other than money, about that business idea?

As for getting past the "what now?" stage, the second question answers that.

How did you transition from working for employers to working for yourself?

I never worked for an employer other than some temporary gigs as a teenager and freelance work (but then it wasn't an employer but a client).

How did you “stay the course”? Looking back, if you had to do it all again, were there other career choices/paths you would be interested in trying (other industries etc.).

I used to jump from one business idea to another. Once I promised myself I would stick to one project for at least a full year, my business took off. Since then, I had some temptations (and veered off course a couple of times) but overall I found great inspiration in repetitiveness and doing the same things over and over again. You have to learn to love monotony.

As for other paths (I may still consider them in the future), I'd consider becoming:

• a public speaker,
• a professional athlete,
• a professional adventurer,
• a real estate investor,
• a hospitality businessman (renting rural vacation properties),
• an agriculture businessman.

Who do you look up to as a mentor?

Some qualities off the top of my head:

• authentic and honest - the only mentor I would find trustworthy is someone who isn't afraid to share their mistakes, problems, insecurities, etc.
• zero ego - I can't stand arrogant jerks.
• well-rounded - that's not always possible but generally speaking a mentor has a great life in general (or in most aspects). I wouldn't be particularly inspired by a guy who, say, is an excellent athlete but otherwise has terrible relationships, has no friends, etc.
• (politically incorrect) is reasonably fit - I can't take seriously a mentor who's fat and unhealthy. Health is way too important in life for a smart person to neglect it.
• keeps learning and getting better - if the mentor talks only about their past victories and doesn't have any challenges they're working on now, that's a sign of a person who got complacent.

How do you go about business development and securing new clients/investors?

Not really applicable to me as my business is way too small to talk about "business development."

What was the first project you worked on as an entrepreneur? What projects are you currently working on?

I used to be a freelancer working with a book publishing house. I'm not sure if that's considered my first project as an entrepreneur but I think it is.

Then I created some small niche websites. One of the first websites that made me money (through AdSense) was a website in which I collected in one place all financing options for new entrepreneurs in my country. Another early website was a database of the best savings accounts (when you could still earn some sensible interest).

When you are looking to hire a young professional (like someone in the audience) what would be your recommendation to be a strong applicant?

I don't hire people but if I were to hire one, I'd look for a person who's first and foremost pushing their limits in their everyday life. If they have no interests in which they're getting better every day (doesn't matter if it's knitting, ultra-running, or studying foreign languages) then I'd assume that growth isn't one of their core values = they're not a strong applicant. Everything can be learned but if a person isn't wired that way to continuously grow, I'd find it hard to work with them.

What does the future of your business look like?

If thinking broadly about content-based businesses, I see the industry maturing even more, with world-class quality production (whether text, audio, or video). We can already see it for example in the emergence of globally-recognized influential podcasts as well as high-budget YouTube productions. Newsletters and blogs are professionalizing as well.

It used to be that the only media companies that counted were huge corporations. Now you can pick a niche, publish some good stuff consistently, and become the number one media company in your chosen field that everyone will consider a thought leader.

I hope this helps, @Antifragile. Good luck on the stage. Crush it!

 

[Johnny boy]

How did these people find each other? Like a college thing or a meetup thing? How many is in the group? How long is the speech? Are these people actually business owners at all? Context will make your ability to deliver a helpful speech 100x better.

Then, think about it this way…what are going to be the biggest 1-3 problems that most of these kids are going to have that will really F*ck them up unless you come in and tell them something and get them to change course? That’s what needs to be said. It’s the stuff nobody else is talking about.

I got a chance to speak in front of middle schoolers. One classroom at a time for all 6 classes. I gave 6 speeches and had Q&A over 6 one-hour periods. The biggest things I had to tell them that I thought was the most important was..

1. Do not follow the path other people are encouraging you to go on, look at the people who are giving you advice and ONLY do what others do if you want to end up like them. If their life sucks, do not listen to them. That is the number one rule always for the rest of your life.

2. You only need good grades to go to college, you only need college to get a job working for others, you do not need college to make millions of dollars, in fact making millions is much easier doing things that require no college at all. (I asked kids what they think they could make for others to help them. One kid mentioned “bake cookies and sell them” and I said how they could bake cookies at home, walk around to office buildings right after school and they could probably make over $50 a day in an hour of selling cookies you made at home. That’s what real business looks like, not going to college and getting a business degree.

3. Stop being afraid of things going wrong. Adults scare you into thinking there’s all of these rules you have to follow. It’s all a lie. Don’t hurt people, don’t kill anyone, don’t steal. Other than that, learn how to break the rules everyone else tells you that you have to follow and life will just get better and better.

I finished the speech with this.

“Over 2/3rds of adults do not like their jobs. Work is 80% of your life when you get older if you’re a normal person. That means that 2/3rds of adults are essentially wasting their life being miserable. Think about that before you listen to them and trust everything they say. They actually have no idea what they’re doing. They’re miserable, tired, depressed and working jobs they hate. You are young and have wealth they don’t have. You don’t have the same damaged spirit they have. Don’t let miserable, poor, damaged people take away the genius, creativity, and energy that you have”.

 

[Antifragile]

How did these people find each other? Like a college thing or a meetup thing? How many is in the group? How long is the speech? Are these people actually business owners at all? Context will make your ability to deliver a helpful speech 100x better.

Thanks, excellent point.

These are members of Urban Land Institute (ULI) Home - Urban Land Institute

Local chapter made the event. They are not students, instead most are 25-30 year olds working with a job. All of them have a link to Real Estate. I’d be surprised if anyone was already a business owner. Instead, I think (like most of the world, really) they fantasize about being owners. That’s why I was invited, as I own a real estate development company. The event is about an hour and I’m the only speaker. To create some form of “order”, the questions I copied above came from the attendees.

Thanks for the rest of the answers, appreciate it. And thanks to @MTF too.

 

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[MJ DeMarco]

On "work-life balance" -- there will be stretches where you need to put in your dues and have things not balanced at all. You will spend an over-abundance of time on work for that period so that you can spend an over-abundance of time on life later.

Couldn't agree more, balance is self-help clap-trap. Temporary and periodic imbalances can lead to permanent balance. And a much better life.

How did these people find each other? Like a college thing or a meetup thing? How many is in the group? How long is the speech? Are these people actually business owners at all? Context will make your ability to deliver a helpful speech 100x better.

Then, think about it this way…what are going to be the biggest 1-3 problems that most of these kids are going to have that will really F*ck them up unless you come in and tell them something and get them to change course? That’s what needs to be said. It’s the stuff nobody else is talking about.

I got a chance to speak in front of middle schoolers. One classroom at a time for all 6 classes. I gave 6 speeches and had Q&A over 6 one-hour periods. The biggest things I had to tell them that I thought was the most important was..

1. Do not follow the path other people are encouraging you to go on, look at the people who are giving you advice and ONLY do what others do if you want to end up like them. If their life sucks, do not listen to them. That is the number one rule always for the rest of your life.

2. You only need good grades to go to college, you only need college to get a job working for others, you do not need college to make millions of dollars, in fact making millions is much easier doing things that require no college at all. (I asked kids what they think they could make for others to help them. One kid mentioned “bake cookies and sell them” and I said how they could bake cookies at home, walk around to office buildings right after school and they could probably make over $50 a day in an hour of selling cookies you made at home. That’s what real business looks like, not going to college and getting a business degree.

3. Stop being afraid of things going wrong. Adults scare you into thinking there’s all of these rules you have to follow. It’s all a lie. Don’t hurt people, don’t kill anyone, don’t steal. Other than that, learn how to break the rules everyone else tells you that you have to follow and life will just get better and better.

I finished the speech with this.

“Over 2/3rds of adults do not like their jobs. Work is 80% of your life when you get older if you’re a normal person. That means that 2/3rds of adults are essentially wasting their life being miserable. Think about that before you listen to them and trust everything they say. They actually have no idea what they’re doing. They’re miserable, tired, depressed and working jobs they hate. You are young and have wealth they don’t have. You don’t have the same damaged spirit they have. Don’t let miserable, poor, damaged people take away the genius, creativity, and energy that you have”.

This is an abso-fn-lutely awesome take.

 

[Johnny boy]

Thanks, excellent point.

These are members of Urban Land Institute (ULI) Home - Urban Land Institute

Local chapter made the event. They are not students, instead most are 25-30 year olds working with a job. All of them have a link to Real Estate. I’d be surprised if anyone was already a business owner. Instead, I think (like most of the world, really) they fantasize about being owners. That’s why I was invited, as I own a real estate development company. The event is about an hour and I’m the only speaker. To create some form of “order”, the questions I copied above came from the attendees.

Thanks for the rest of the answers, appreciate it. And thanks to @MTF too.

Then as newbies it’s guaranteed all of them are fascinated and curious about the number one question that every single newbie in the entire world has and it’s burning a hole in them to find an answer. The question is…. “What the F*ck should I ACTUALLY do to get started???!!!!”

If you can give them some clarity in answering that question as clearly as possible, you’ll be their hero. If they are searching for that answer and you tell them “just provide value” they will want to shoot you. When I was just getting started before I had my own business, that question was at the front of my mind and every time I tried to ask and get some guidance it seemed like I always got the most useless, cliche advice possible and it pissed me off. Now whenever possible I try to give a laser focused accurate answer that I would’ve hoped to receive when I was younger.

Easiest way to start the speech would be to just dive headfirst into it offering laser focused advice on how to practically get started in real estate and put it on webpage, link from a QR code and throw it up on a screen while you talk so anyone can come back to it later and save it by scanning the QR code from their seat. They’ll walk away thinking “I loved that speech. Exactly what I was looking for”.

 

[Antifragile]

@Johnny boy

In a room of 100 people, I expect 10 to be wasting their own and my time. 70 or so are the "I should do this and that" but end up doing little of substance. 20 are there for a purpose but may lack direction - these are my priority.

Given that all of them have committed to careers in RE already (otherwise why sign up for ULI?), I will focus on how to start a RE business for younger people. Ironically, I don't think you must start in RE if you like RE. Plenty of people did other business, had an exit and now could afford to get into RE.

RE, especially development, has two big barriers to entry:

1. Money. You must have access to deep pockets (your own or investors').
2. Experience. Many start in construction or architecture, to be able to do as much as possible on their own. Then slowly add staff. The business is extremely complex because to create your vision into reality you must typically convince the city staff and councillors, public, your investors, lenders... all the while coordinating compliance with latest building code, environmental (ESG) etc.

The question is…. “What the F*ck should I ACTUALLY do to get started???!!!!”

Choose one of two paths:

• Path 1: get a job at a smaller RE dev company and become so good, they can't afford to lose you. Always ask to help everyone and get experience. As the company grows, become a shareholder. If it fails, you'll have experience and start your own company and raise funds to do it. Market is starved for good people. But don't jump around every year to another company. A good project takes at least 4-5 years from inception to completion.
• Path 2: get FFF (family, friends and fools) to invest with you a small amount. The plan is to buy one small property and reposition it. Think a single family lot, subdivide it and build two duplexes to sell. You won't make much money, but experience will be immense. You make your investors decent return and you'll attract bigger investors. For example, go to a municipality where properties are cheaper, and be prepared to do a lot of the work with your own two hands to save every dollar.

 

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[doster.zach]

Choose one of two paths:

• Path 1: get a job at a smaller RE dev company and become so good, they can't afford to lose you. Always ask to help everyone and get experience. As the company grows, become a shareholder. If it fails, you'll have experience and start your own company and raise funds to do it. Market is starved for good people. But don't jump around every year to another company. A good project takes at least 4-5 years from inception to completion.
• Path 2: get FFF (family, friends and fools) to invest with you a small amount. The plan is to buy one small property and reposition it. Think a single family lot, subdivide it and build two duplexes to sell. You won't make much money, but experience will be immense. You make your investors decent return and you'll attract bigger investors. For example, go to a municipality where properties are cheaper, and be prepared to do a lot of the work with your own two hands to save every dollar.

I've never see any of the "Real estate guru's" give this good/specific of advice.

It's usually just either raise money from a bank to buy a 200 unit property, which most people can't do(?). Or they just want you to give them your money so they can use it.

 

[fastlane_dad]

An awesome set of questions – and answers to ponder (even for myself).

Many great responses on here already, and clearly there are not many ‘right’ answers – just various shades of sacrifice, pros and cons that everyone must choose and battle for themselves.

Sometimes just pointing OUT what some of these can be, can be groundbreaking in mindset and self-awareness for certain people.

Many times now over and over, I’m also noticing that everyone wants the final result of ‘entrepreneurship’, working for themselves, running a business, making tons of money, etc – but NOT willing to enjoy or partake in the everyday process to make that happen!

I’m not sure if that’s for the lack of skill, knowledge, interest or simply a different set of values -- that that happens.

Or sometimes maybe the sacrifice can be too big (got to spend after work / weekend time building something, etc). That is all part of the mindset or self-awareness that must be taught (and learned) by the person looking to start and run a business.

I know the everyday process all too well – I’ve been immersed in it daily for the last several decades.

I have also (mostly) always loved the process. Much of my last 20 years went as follows - learning, taking action, iterating, learning again, monetizing, calibrating, improving, seeking help, learning, etc. The funny part is post my business sale -- none of that has changed. I still wake up to the exact same process today, but with some different 'whys' in my life.

I’ve never ‘aspired’ to become a business owner or an entrepreneur --- that’s just what I identified with starting at a young age and took daily incremental steps to get there.

Also – a post can be written on each one of these questions, I’ll try and keep it brief with the first thing that comes to mind.

Also please keep in mind that these answers are coming now from my 40 year old, evolved, financially free self. I actually think that my 25 year old mentality (at that time) would have better served advice to someone starting out or wanting to go after this dream. The current me has become way more philosophical, self-aware and encapsulating of time and wisdom one gains seeing the 'entire-picture'.

Nevertheless. Let's get to it.

• Early on in your career, how did you stand out from the crowd? How does one stand out from the crowd now?

If we’re talking about ‘career’ in general (not just business /entrepreneurship) I have always went for high-value paying skills and education. That to me is always part number one on any business journey. The second you step foot onto a higher-ed campus there better be a great reason why you are there (partying / chicks /parents made me) does not suffice. This is the first major business decision everyone faces in their life time.

I made sure to get a high-paying technical education. Past that, especially in the entrepreneurial world – standing out meant bringing out ‘the rub’ to each service or product – that many times I saw the market lacking. It was a matter of time of seeing how the market then responded to some of those ideas to see if it would gain any traction or not.

Also - looking for new marketplaces and ways to deliver the same message/product/service has always been a huge help.

I was among the first to sell on eBay and Amazon - in their respective time and much of my current success has been attributed to that timing. I found both platforms fascinating and was always astonished in the early days of how well they were able to link up a seller such as myself to a buyer!

• What does the idea of “work-life balance” mean to you? How did manage your work life balance in your career? My understanding is that most entrepreneurs/company founders have to work around the clock.

Yes, as many point out, there are periods of work and business where you are all in , building something around the clock 24-7. At other times, there are periods of rest, reflection and reassessing some of your ‘whys’.

I’ve had both. I’ve always enjoyed what I was building and working on, hence it never felt like it was taking THAT MUCH away from my life.

Also – a lot of my more intense hours were put in when I had less responsibilities (no family, house, pets, etc).

My time is stretched much further now and hence the sacrifices would only mount up.

As cliché as it sounds - my advice is to put in the time and hours when you are young and free.

Deciding between working on Friday night vs. getting hammered with friends was a no brainer most times. Looking at some of my current values now, for me personally it is a much tougher decision to make to sacrifice family / parent time in order to put in the hours towards work.

• Many folks, including those in the audience, have a business idea that they want to bring into reality. What are the possible next steps? What questions should they be asking themselves? How to get past the “what now?” stage and get traction?

You get traction by making small, actionable tasks daily.

Write down three tasks you can do today, then go and do those.

Make a road map for the next week and execute on that. Week after week. That’s how you gain traction. That’s how you look back in 1-5-10 years and have an accumulation of daily tasks you took that made progress. Much of my last 20 years there have been no ‘events’, just actionable tasks, performed over and over to build up all of my businesses’ from 6 figures in revenue all the way to 8 figures for some of them.

The hardest question is to figure out your ‘why’ and what you actually want. Then you can actually start taking action and figuring out a direction in which to move. Much of standstill happens when there are vague whys, or you have not processed the sacrifices that it will take to act on those whys.

• How did you transition from working for employers to working for yourself?

Once initial success was gained from affiliate marketing, and some money was saved – let me tie the cord on working for a large corp.

Spend less than you make, be prudent with your financial choices, and prioritize monetization.

Once my ‘basic needs’ were met getting an income coming where I was in control, no second thoughts were had about going back to the corporate grind.

• How did you “stay the course”? Looking back, if you had to do it all again, were there other career choices/paths you would be interested in trying (other industries etc.).

Stayed the course as there was no other course I’d rather be on! Several times it was out of necessity – other times it was out of sheer pleasure. There was nowhere and and nothing else that I would have rather done.

• Who do you look up to as a mentor?

There has never been one single mentor.

At any given time, it was those who have paved the way or course on the journey that I was attempting, and looking to them on how they did it. The big ones for me starting out were Tim Ferris (on the four hour workweek) – and @MJ DeMarco on TMF .

Those two books and individuals gave me all the knowledge and confidence to start moving in the direction of creating a sell-able business entity.

• What was the first project you worked on as an entrepreneur? What projects are you currently working on?

My first entrepreneurship successes were reselling baseball cards and flipping items found in discount stores right to eBay. I kept my eyes open through the years to see where a quick profit could be had reselling items online.

• What does the future of your business look like?

Self chosen industries and opportunities where I’m growing, learning and serving value. It also simultaneously has to be a process and grind I’m willing to endure.

----------------------------------------------------------

Hopefully some of these replies go to help. There is much more on each topic, that can form an hour long-form debate and a whole bunch of philosophical questioning (where I believe I would come away more confused then when I started!).

In any case, it sounds like many of the greats and successes on here are much in agreeance of some of the many skills it takes to persevere, build from scratch, and keep going even though there might be no concrete frame in mind.

Starting out - I've always told myself - that all I need to find is that one idea that can monetize and sustain me meeting my needs. Everything past that would be a bonus. And many bonuses have came along the way in the last 20 years!

@Antifragile Good luck at your talk, please share what YOUR major takeaways are either from this thread OR what you decided to deliver.

 

[Private Witt]

Also, @Private Witt - you’ve been around the block a few times! Would love it if you could take on a few questions too.

Thanks for the tag. Ive been around the block and through the grinder on my journey, but the more I apply Fastlane/Unscripted philosophy, the stronger I become in both personal and business realms. I agree with Johnny Boy that you should have something they can refer to later. If even one out of 100 takes the time it would be a win. Who knows in ten years one of Canada's most promising developer of this younger generation may come from this audience and credit you with giving life-changing career/personal advice.

• Early on in your career, how did you stand out from the crowd? How does one stand out from the crowd now?

My first company was based out of Colombia and as a gringo taking on a major competitor who had total market dominance (Lonely Planet) I completely stood out in every way. It was a unique situation but learned to leverage that I was a foreigner to my advantage with earned media incursion, getting through doors as a guest in the country, and many benefits from standing out.

Today, I'm in a state in the US where there are 12,000 licensed businesses in my space. 99.9% of these businesses are either stores or growers. My company falls into a category where there are only 6 of what I do in the state, making me stand out from the crowd due to my offerings. Even better, I'm the only one based out of the 2nd biggest city in the state, which gives me the on-the-ground advantage. So to stand out, I suggest, do the opposite of what the crowd is doing, and be unique.

Who do you look up to as a mentor?

I use a system of live mentors from my industry and also informal mentors from the present and past. The strongest in my real world mentor is the #1 publisher in my space, who reached out to me to encourage me after I launched a publication into the industry in 2019. While I do not talk to him a lot, I have asked a lot of questions and study how he operates, his product and company. Present informal mentors would be those whose careers and philosophies I study, such as Steve Pressfield, Ryan Holiday, MJ DeMarco. Past mentors could the likes of Marcus Aurelius, Sun Tzu, Seneca.

MTF hit it right on the head and look out for complacency in a mentor. Many "successful" people could be wounded, in a down-spiral and living off past success, still look good when reaching for guidance, but become a detriment in ones development.

Good luck on the speech! Looking forward to hearing how it goes.

 

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[Johnny boy]

• Early on in your career, how did you stand out from the crowd? How does one stand out from the crowd now?
• What does the idea of “work-life balance” mean to you? How did manage your work life balance in your career? My understanding is that most entrepreneurs/company founders have to work around the clock.
• Many folks, including those in the audience, have a business idea that they want to bring into reality. What are the possible next steps? What questions should they be asking themselves? How to get past the “what now?” stage and get traction?
• How did you transition from working for employers to working for yourself?
• How did you “stay the course”? Looking back, if you had to do it all again, were there other career choices/paths you would be interested in trying (other industries etc.).
• Who do you look up to as a mentor?
• How do you go about business development and securing new clients/investors?
• What was the first project you worked on as an entrepreneur? What projects are you currently working on?
• When you are looking to hire a young professional (like someone in the audience) what would be your recommendation to be a strong applicant?
• What does the future of your business look like?

Stand out from the crowd by not watching the crowd. There is no crowd. There's just you. What you see with your own eyes and what you think from your own brain will seem like genius to someone else. And there's nothing wrong with fitting in. Fitting in amongst winners is just fine. There are people who are extremely happy, making tens of millions of dollars, and they fit in just fine with all of their winner friends. No need to "stand out" and "be weird". Maybe they stick out like a sore thumb when compared to a degenerate if that's what you mean. Then the answer is just to be high quality and not a degenerate.

Work life balance is a buzzword that makes a few assumptions. 1. Work and life are separate. 2. work is hard and unenjoyable 3. life is fun and enjoyable 4. a healthy person works a proper amount and "lives?" a proper amount. Yes, the stereotypical workaholic who pursues nothing but wealth will become the richest man in the cemetery and will likely think "I made a mistake". But "work-life balance" is a cliche that forces you to subscribe to all of the assumptions it makes if you reference it as a matter of fact like it actually exists. What is "work"? There is just life. Low self esteem causes people to constantly look for approval. Checking a box of what society thinks is proper "work-life balance" is a silly game. "Look at me, I allocated the proper time towards 'life' by watching my kid's soccer game, you can't call me a bad person!" When you have one singular goal, and you know what needs to be done, and you know it's worth it, it only makes sense to focus on it with all of your attention until it's done. Imbalance is just clarity. "I know what needs to be done, I am going to do it or I am going to die trying, and I do not care about anything else because this is what matters". That's a beautiful thing.

What are the next steps for a new entrepreneur? "Get your dick wet". Make a sale, get a customer, do a deal, pop your cherry and the lessons from that first time will tower over any books and theory you could read about or come up with sitting on the sidelines. And in the real world, nothing beats evidence. Businesses rise and fall based on variables like "are customers willing to pay X for this product?" "are employees willing to work for Y/hr?" "can we get our refunds and returns under Z%?" Theory can't get you real evidence. And all of the variables in an industry dictate what the best course of action will be. You will only know by getting into it. It's best to get into it as quick as possible and as cheap as possible, you'll be more willing to let a bad idea die that way.

Transition from being an employee to being an employer by hiring employees and getting better at it. The vast majority of businesses have business problems and think it's an employee problem. You need to fix your business so you can hire almost anyone and they'll do a good job. Never try to be good at hiring and managing as your reason for success. Be good at running a business with bad employees and bad management and when you do those things well, you'll have a kick-a$$ business. All the best businesses are able to hire low-skill people right off the street and still have a functioning business.

"Stay the course" by hitting obstacles and reminding yourself "this is where all of the bitch-a$$ losers gave up". I remember a few months into my business and getting no where and that's exactly what I told myself and I was 1000% right. Repeat it to yourself when things get hard. "This is where everyone else gave up too". That sentence has made all the difference for me.

Mentors: I learn from anyone doing anything better than me, but I can only say I "look up to" people like Jesus, Alexander the Great and General Patton.

Business development: Being a high quality man will put you around high quality people. People who know other winners, people who are valuable themselves, people who teach you things. The whole "I'll buy you a coffee" thing is cringey and low-status.

First project: never did a real estate project.

What do I look for when hiring? Depends on the position. Different positions are like different tools. I might need a hammer, I might need a reliable toyota, I might need an unpredictable high performance racehorse. But if you work in my company, I want to make it a big one, so I'll need you to work well with others and not cause problems. I prefer people who think alike in ways other than just work. I will never hire a fat blue haired feminist because I know it will just cause problems.

The future for my business: (if god wills it), we will be a national company, privately owned, doing everyone's home services and employing tens of thousands. Money (currency) is about flow (current). With a fundamental and profitable premise in place, the size is the variable that will let you divert that current in any way that you want.

 

[Odysseus M Jones]

How would YOU answer the following questions?

I'd post them on a forum and let others do my work for me.

 

[Antifragile]

I'd post them on a forum and let others do my work for me.

I’ll let the organizers know that you’ll be speaking for me.

 

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[Antifragile]

I sincerely appreciate all the answers. I didn't want to start with my own, as it could influence what others write. I am grateful for your time and help.

Here are my thoughts. I owe it to the group and @MJ DeMarco FLF readers to share my thinking.

• Early on in your career, how did you stand out from the crowd? How does one stand out from the crowd now?

To stand out, be the greatest version of yourself: show up early, work harder than others, dress well, help as many people as you can, and be inquisitive. You'll make connections and build a strong network by doing these things, and people will want to work with you because they know you're the best at what you do. My first "real" job was as a clerk producing data reports. To stand out, I decided my reports would be the best, I studied MS Excel and MS Access, combining both to produce custom results. Later, when I joined Real Estate, I studied at night to prepare the best pro-formas. You all already know how to stand out, I am not sharing anything new. Question is, how many will do it?

• What does the idea of “work-life balance” mean to you? How did manage your work life balance in your career? My understanding is that most entrepreneurs/company founders have to work around the clock.

For me, "work-life balance" is a myth. I work to live, not live to work. I'm very deliberate about what I do with my time and who I spend it with. That said, I'm also very disciplined when it comes to working. I set clear boundaries and stick to them. When I'm working, I'm 100% focused on work. And when I'm not working, I'm 100% focused on my personal life. I don't try to balance the two, because I think it's impossible. I like to joke that when I first became a business owner, I slept like a baby - woke up every 3 hours and cried.

Yes, there is a need to put in the work to advance a career, and build a business and wealth. But don't forget to revisit your life when you've achieved some of those goals and learn to enjoy the spoils of your success.

• Many folks, including those in the audience, have a business idea that they want to bring into reality. What are the possible next steps? What questions should they be asking themselves? How to get past the “what now?” stage and get traction?

The first step is to validate your idea. This means testing it in the market to see if there's actually a need for it. Once you've done that, the next step is to put together a plan. This should include your goals, strategies, and financial projection. Once you have a plan in place, the next step is to start executing it. This means building your team, developing your product, and marketing it to your target audience. The final step is to scale your business. This means growing it to a point where it can sustain itself and generate enough revenue to support your lifestyle.

To answer this question well, I'd have to write a book. Lucky others have done it already, I recommend MJ DeMarco.

• How did you transition from working for employers to working for yourself?

The transition from working for an employer to working for myself was a gradual one. My first real business was a "side hustle" junk removal company and I had a great partner. It was better than any MBA because I had to find ways to work on a business while having a job! I worked early mornings, nights, and weekends. I had virtual assistants in India contacting clients while I was at my job etc. It was a crazy time: 12-14 hour days. Concurrently I worked on my dream of becoming a RE Developer. I hoped to become a shareholder of my employer and when I learned it was not happening, I quit and co-founded my current company.

• How did you “stay the course”? Looking back, if you had to do it all again, were there other career choices/paths you would be interested in trying (other industries etc.).

The key for me has been to always keep learning. When I was younger, I was constantly reading books and taking courses on various topics that interested me. I also made sure to surround myself with people who were doing what I wanted to do. This helped me stay focused and motivated. The thing about RE is that I've never been bored, not once. Staying the course wasn't as hard as it may seem.

If I had to do it all again, I would explore other industries. I'm particularly interested in technology (like blockchain).

• Who do you look up to as a mentor?

I've been fortunate to have had several mentors throughout my career. Today there is no formal mentor in my life, but I still think I have many mentors. That's because I learn something new from everyone I meet. And I'm constantly reading books on various topics that interest me. Industry peers help me understand RE better. Other entrepreneurs keep me accountable, based on my thinking, ideas and general world views. Books on athleticism and endurance help me when my energy levels are low. At times I have to dig deep inside to wake up at 5 am to work out before sending my kid to daycare and going to the office.

• How do you go about business development and securing new clients/investors?

Networking is key. I've found that the best way to grow my business is to meet new people and build relationships. I attend industry events, and conferences and used to organize my own events. I also make sure to stay in touch with my contacts, even if we don't have any immediate business to discuss. This way, when the time comes, they are more likely to think of me.

Most of our relationships begin with a handshake and develop face to face. People choose to work with us because they believe we will do excellent work. I am humbled by the testimonials we received when we were updating our website.

• What was the first project you worked on as an entrepreneur? What projects are you currently working on?

With the current business, we started with an industrial strata buildings in West Kelowna, then completed a 108-unit apartment rental building in Nanaimo. Today we have projects in Victoria, Esquimalt, Squamish, Chilliwack, Langley and Kelowna. They range from rental/condo to industrial and mixed-use.

• When you are looking to hire a young professional (like someone in the audience) what would be your recommendation to be a strong applicant?

There are a few things that stand out for me:

First, it is important to have a strong work ethic. This means being willing to put in the extra hours when necessary and being organized.

Second, it is important to be a team player. This means being able to work well with others and being a good communicator.

Third, it is important to be coachable. This means being open to feedback and willing to learn from those who have more experience.

Lastly, it is important to be positive and have a can-do attitude. This means having a positive outlook on life and being solutions-oriented.

• What does the future of your business look like?

The future of our business looks bright. We are constantly looking for new opportunities and ways to grow. Development of real estate is not getting easier, but we are severely undersupplied in BC. We think the need for new product and our type of business is here to stay. We plan to retain some of the properties we develop and grow our business.

 

[Albert KOUADJA]

I'd post them on a forum and let others do my work for me.

funy! It should be noted that we are lucky to have a community like this. Who is ready to share their experiences, knowledge and wisdom without expecting anything in return.

You guys /older brother/Father and others are awesome. Thanks to everyone who participated in this thread.

 

[Odysseus M Jones]

I’ll let the organizers know that you’ll be speaking for me.

Wow! "He looks so much better in person than than he does in pictures"

funy! It should be noted that we are lucky to have a community like this. Who is ready to share their experiences, knowledge and wisdom without expecting anything in return.

You guys /older brother/Father and others are awesome. Thanks to everyone who participated in this thread.

Absolutely, it's a great community here.

 

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[Antifragile]

Thanks again to all who helped post in this thread. The event went as well as it could have gone. The organizers and I received a number of positive messages and I've been asked about coming back for an industry panel debate.

I thought you did a great job at this morning’s ULI coffee and conversations event. I enjoyed it! You have a talent for engaging your audience. Well done!

Jess

Moderator did throw a curveball, did not stick to script! But it made for a better experience to the listeners. We got into current market situation, inflation, interest rates discussion etc.

Thanks again folks!