The ONLY Way To Get Rich With SMMA

Summary

Jordan Platten shares essential lessons for aspiring entrepreneurs, emphasizing the importance of authenticity, resilience, and courage. He urges business owners to break free from conventional molds, leveraging their unique strengths and experiences. Success is framed as a marathon, not a sprint, where persistence through rejection and failure is key. Courage is built through consistent action, especially in the face of discomfort. Platten advocates for daily practices like meditation, journaling, and exercise to develop self-confidence and build the resilience necessary to overcome the inevitable challenges of entrepreneurship.

Takeaways

• 😀 The journey to entrepreneurship is a long-term commitment, not a quick fix. Consistency is key to success.
• 😀 You need to build your business around your own unique identity, not by copying others. Personalize your approach.
• 😀 Patience is essential in building a business. Don't expect immediate results, and don't quit too soon.
• 😀 Fear of failure is a major barrier to success. Overcome this fear by building self-confidence and taking action.
• 😀 Embrace failure as a necessary part of the learning process. Every mistake is an opportunity to improve.
• 😀 The ‘right time’ to start doesn’t exist. You have to create your own opportunity through action and persistence.
• 😀 Develop mental resilience by engaging in self-improvement activities such as meditation, journaling, or physical exercise.
• 😀 Personal growth and self-confidence are prerequisites to business success. Work on yourself daily to overcome self-doubt.
• 😀 Build a strong mindset through regular action, even when it feels uncomfortable. It’s this discomfort that builds strength.
• 😀 Don’t wait for everything to be perfect before starting. Just take the first step, learn, and adjust as you go.
• 😀 Entrepreneurship requires courage, and true success comes from the willingness to face challenges head-on, despite the fear.

Q & A

Why do 99% of startups fail in their first year according to the speaker?

The speaker attributes the high failure rate of startups to a lack of key elements, which are outlined in the video. These include a lack of authenticity, the failure to break the mold and leverage individuality, and insufficient resilience in the face of challenges.

What is the importance of breaking the mold in the context of building a successful agency?

Breaking the mold means going beyond copying others' strategies and content. The speaker emphasizes the need for entrepreneurs to leverage their unique skills, experiences, and interests, as this leads to authenticity and long-term consistency, which are critical for success.

How does confidence relate to success in building a business?

Confidence in one's ability comes from relinquishing dependency on external scripts or systems. The speaker explains that through trial and error, entrepreneurs build confidence by adapting strategies to their unique style and circumstances, leading to personal growth and better business outcomes.

What practical exercise does the speaker recommend to help build individuality in business?

The speaker suggests writing a personal mission statement. Entrepreneurs should dedicate time to self-reflection to identify their motivations, values, skills, and unique perspectives. This exercise helps align their business practices with their authentic selves.

What key mindset shift is necessary for entrepreneurs to succeed over the long term?

Entrepreneurs need to shift from seeking immediate success to understanding that building a business is a marathon, not a sprint. The speaker stresses that long-term success is achieved through patience, persistence, and consistent effort, despite setbacks and challenges.

What percentage of participants in the speaker's challenge made it past the halfway point?

Only 36% of the 600 participants in the challenge made it past the halfway point. This statistic highlights the difficulty of sticking with the process and the importance of persistence and resilience in achieving long-term success.

What is the concept of 'delayed gratification,' and why is it important for entrepreneurs?

Delayed gratification refers to the idea of not rewarding oneself too early. Entrepreneurs should focus on reinvesting in their business rather than celebrating small wins prematurely. The speaker emphasizes that celebrating too soon can disrupt focus and hinder long-term growth.

How does the speaker suggest dealing with failure and rejection in business?

The speaker encourages entrepreneurs to embrace failure and rejection as part of the learning process. By repeatedly facing rejection and continuing to work through it, entrepreneurs build resilience, which is essential for long-term success.

What is the 'cost of inaction,' and how does it relate to entrepreneurship?

The cost of inaction refers to the opportunity lost by not taking action when one has committed to a goal. The speaker stresses that waiting for the 'perfect time' to start a business is often an excuse driven by fear. Entrepreneurs must take action despite the discomfort and uncertainty.

What daily practices does the speaker recommend to build resilience and self-confidence?

To build resilience and self-confidence, the speaker recommends incorporating daily practices such as meditation, cold therapy, journaling, and regular physical exercise. These activities help entrepreneurs develop a strong mindset, enabling them to handle the challenges of entrepreneurship more effectively.