John Lee Dumas is the host of Entrepreneurs on Fire, an award winning podcast where he interviews inspiring entrepreneurs. The show is an enormous success, with over 2,000 episodes, 1 million monthly listens, and seven-figures of annual revenue.
Today, he shares his insights from his own entrepreneurial journey.
Watch the video of this conversation here.
The Keys of Entrepreneurship
JLD has interviewed thousands of entrepreneurs. And in the process, he’s taken away some powerful insights into what makes these successful people tick.
- They’re productive. And not just producing anything, but heading in a direction that pushes them forward. If you’re moving a million miles an hour, but in the wrong direction, you’re still a million miles further from your goal.
- They’re disciplined. Successful entrepreneurs wake up with a plan of action that they work diligently to execute every single day.
- They’re focused. JLD said it’s a handy acronym as well: Follow One Course Until Success. The top of the top are laser focused into one area.
Finding Your Mentor
Some people say that if they can’t get Richard Branson or Mark Cuban to be their mentors, they don’t want a mentor at all.
This is a huge mistake, JLD warned.
“Your perfect mentor is someone who is currently where you want to be,” said JLD.
So that widens the pools to a whole lot of people who have incredibly valuable insights into your field! Take JLD for example. He sought out a successful business podcast host who was one year ahead of him, and she walked him through the process, saving him a ton of time in struggling through any obstacles on his own.
Igniting Your Passion
JLD stumbled on podcasts during commutes to his former real estate job, and it completely changed his life. But how do you find that thing that brings you joy and fulfillment AND fills a need? It takes patience and a lot of tries.
“Life is a buffet of a splendor of different dishes and appetizers and main courses and desserts. And you need to try everything.”
But that doesn’t mean selecting the first “food” you like. You have to consider the skills you have and the needs you’re filling. By doing this, you can discover that perfect niche.
JLD said all those factors commingle into the “Zone of Fire.”
Freedom is a Mindset
When JLD transitioned from working in real estate to podcasting full-time, his schedule was intense. He started off posting podcasts every single day, and his calendar was stacked. To some, that might not look like a career move that is freeing. But for him, it was exactly that.
“To me, that is freedom. That’s me, waking up in the morning, looking at my calendar, and saying, ‘The things that are on my calendar? Those are things I want to do.’”
The other key to his success? Batching whenever possible. He piles up his interviews with other media in 15-minute blocks one day every month.
During these uncertain times, it’s important to think about building businesses that can survive immense changes and challenges.
“The reality is we’re living in a different world. Things are never going to quite be the same,” JLD said.
That being said, there are some unique opportunities in this period to discover your niche and dive deep.
“You can’t be this weak imitation of people who are doing things that are working who are successful. You need to become this unbelievable individual of yourself.”
JLD recommends you read The Slight Edge: Turning Simple Disciplines into Massive Success and Happiness by Jeff Olson
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