The world in which we live generally celebrates the success of entrepreneurs and business people after they have won the race and are in the process of receiving their trophies and medals. However, very few people take the time needed to study successful people and to ask them what they did to achieve their high levels of success. In this training we explore the path several top entrepreneurs had to take to get from point A to point B.Sign Up to Watch
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-You know, when you look at, think about Walt Disney and the stuff he went through, a lot of these books you hear about entrepreneurs, famous people who've had no way of retreat, have you, I mean, have you seen this trait common amongst a lot of your business clients, where they basically put every dime they had into a business and they didn't have a backup plan?
-Yes. I think a lot. People are putting their houses, putting their mortgages on the line and borrowing money from family members and all of that, just to try to make it work.
-I see it all the time. And I want to encourage you if you're watching this business education training and you're like, I would have to put every-- we would have to sell our house. There's a lady by the name of Lori Montag, M-O-N-T-A-G. I want you to Google that, Lori Montag. And check out. Just put Lori Montag CNN Money in your Google search.
This lady's like, she's one of my mentors. And she's like in her late '40s almost 50. And she was working with me as a consultant for the mortgage company. I brought her on to help with the team. Marketing genius.
And she decides to sell her house in her late '40s and to move into like an apartment to take all of the money she has and to buy little rubber band bracelets. Called Zany Bands in the shape of little like, pirate ships and like a boat and a house and a tree and a bird. And then she decides to sell these things.
-She sold her house. I don't know that I would do that.
-She sold everything. Sold the house. It was paid for, by the way. Turns it all into rubber bands. Her whole life savings is turned into rubber bands. And then she proceeds to sell $60 million of them. Now, I'm going to say this and I'm not arguing with my friend Deidre.
But if you approach life as though death is around the corner sometimes all of a sudden the sense of urgency is there. Like, well, if I only had a year left to live yeah, I would sell my house and--
-And I think that as we get older we sometimes feel like we have more to lose. And so we play it safer. And therefore we miss on some big stuff.
And as I've met the founder of Hobby Lobby and the Quick Trip guys and George Foreman, I've discovered that as they've got older they've continued to not be riskier, but to be more all in. And it's a balance. I know you don't want to lose everything.
And especially if you have kids at home. And there's a lot of things to factor in. But I would encourage everybody watching this that we have got to have a sense of urgency about our life and to be sold out like Walt Disney was. Maybe not sell your house. But you've got to be into that, right? I mean, you have that passion.
-Now, entrepreneurs like Walt Disney seemed to have boundless energy, that they seem to pull from their passion. It's like oh, I'll get some more here. I got this endless passion supply. They pull it from the cloud of passion.
They pull that energy. Where do you find your energy? Because you're always energetic.
-Yeah, I think surrounding yourself with people that are like that, you know, that are like you. If you are around positive people I think you're reflected that way as well. So that's part of it, finding a positive mentor. Doing positive things in your life. You have to take care of yourself. You're not going to be a good entrepreneur or successful in business if you don't take care of yourself, your health and all that.
-I just will say this-- if you are watching this right now and you don't have a whole lot of passion, if you're finding yourself passionless it's a dangerous place to be.
-It is. You've got to get up every day and love what you're doing. Because you're not going to make money for a long time. It's going to take a while. And there's that risk factor and everything else. So you've got to get up and love what you're doing.
-Got to love it. I'm just being real. You've got to love it.
I don't know how else to explain. You have to love it. I say love it. There might be parts of it you don't love. But you have to love it overall. It's very important.
Now we're going on to my main man Milton Hershey, Milton Hershey. When I hear the name Milton Hershey I get hungry. Then I get a little hungrier and then I reach for a taser to calm myself down. Then I think of a man who lost everything while building his chocolate empire. I think of the man who bet it all on the candy and ultimately won, but not before losing it all. Again, losing at all.
I don't know if I can truly articulate emotionally without crying here, these people lost at all. Walt Disney lost it all. Henry Ford lost it all. Milton Hershey lost it all.
Can you imagine what that would feel like? Perhaps you've already know what it feels like to lose it all. Perhaps this story is what you needed to hear to motivate yourself to get up and go after it again. My friends, when I think of Milton Hershey I think of a bold young man who stared directly into the face of defeat and yelled bring it on. Here comes the King of chocolate.
I'm sorry, but I cannot get anything less than Tim Tebowesque when I think about the passion that this guy had to start this company. I mean, it's awesome. So when I go to the store and I see some Hershey's I get pumped. And I'm hoping that when you go to Disney World you get pumped. And when you see a Ford car you get
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-Deedra, can you describe how hungry for success you were when you started 918moms? Were you pumped?
-Oh, pumped. Definitely. And I think as we started getting more users and more users and people were interested in it, that's what kept us going-- getting emails from people saying, wow, I haven't had anything like this. You've saved me at a time when I was really down and I could connect with these other moms. And this was really before Facebook and people were doing social networking.
CLAY CLARK: And at the peak, you were doing about $70,000 a month of advertisement revenue? $70,000. Think about this. Here's a mom-preneur. I'm not trying to be sexist or trying to be anything. I'm just saying, here a lot of people could say, she's a mom. How's she qualified to start this? She's in the corporate world. How's she qualified? A lot of people will say to you, you need to go to college and get your entrepreneurial degree. There's entrepreneurship degrees now.
You need to get your MBA, Deedra. How are you going to start a business without an MBA? But you did it.
-Yeah. It's all about the passion and I was that mom at the time, the young mom with new kids. So it was all the questions I had, which I think makes it easier. I was obviously passionate about it because I had young kids at home as well.
CLAY CLARK: Full disclosure-- Deedra was born in 1994. Now some of the world's most successful entrepreneurs have failed and failed before they've achieved success. As a PR and media marketing guru, how many rejections would you say you typically would get on a pitch. You're sharing a story with a media outlet, how many rejections do you get before you get one yes?
-Yeah. Oh, probably at least 10, 15 NOs.
-No. 10 or 15 NOs?
-To one yes.
-That's a lot of NOs.
-And it depends on local or national, what you're pitching. National's harder. But yeah, definitely. You're throwing it out there. Not everyone's going to love your story.
-And I'm going to just throw out this number here. I don't know that a lot of people mentally can handle 15 NOs for every yes unless you know going into it--
DEEDRA DETERMAN: You're going to get that.
-It's crass. It's terrible. But I always tell people, embrace the worst case scenario. Know that it's going to be terrible. It's maybe not a good idea, but it's not as if it doesn't feel positive, I guess. But I'm like, I'm going to get 50 NOs. So we're talking today about venture capital. And I was like, I have to believe that these people will not invest. Because they promised they will, they've said they will. They've emailed. They've met with me. So I don't feel good about it.
I've got to get more leads. And that's how it works. And then when I get somebody, it always works out that way. So we were doing Thrive. We're raising capital for Thrive. And one guy who I-- I don't even know why he's excited. He doesn't fit the demographic. But he's pumped. He loves it. Thrive! Boom! He's pumping me up. I'm like Thrive. And he's like, no, Thrive! It's crazy. He's pumped. He's going Jumanji about Thrive. And then the people who I thought would say yes, say no. It's just bizarre.
DEEDRA DETERMAN: And it only takes a few. So if you cast your net wider--
CLAY CLARK: Wider net, more fish. Now moving on to HJ Heinz. Heinz Ketchup. You ever had some of that? High in sodium. My wife says it's horrible for me. It's got more sugar in that than a candy bar. Not trying to rip Heinz. My wife's just telling me non-GMO all the way. Got to stop eating that ketchup. I love that sweet ketchup. Love it. That salt. I love salt, too. I want an adult salt lick for my kitchen. After ever meal just salt lick. I love it.
So the king of ketchup. Today he is known as the czar of condiments. But when you hear his name, what comes to mind? When you see his ketchup bottles, what are your thoughts in your brain? For me it's steak. Recently I actually heard someone say, you know, it was easy for him because he found an easy niche with little competition and was able to make a name for himself. When someone told me this about the ketchup king, I was like, I'm going to research the ketchup king just to see if that's true.
Because it's not true. I just want to have some facts so I can call Jack and tell him this thing. So I didn't slap this person, but I wanted to. I just poured ketchup on them. No, I'm just kidding. But what I did is I researched him and here's what I found out. My main man Heinz went into bankruptcy. He lost it all. Again, you're in a pattern here. He literally ran out of cash on his way to building something big. My friend, you simply must feed your brain this sort of information if you're going to get to the top.
You and I must know these stories to start to build up the emotional stamina needed. We've got to feel like HJ Heinz. You got to feel like you're one step closer to victory because you've learned what does not work. We have already talked about Heinz. We've talked about Ford. We've talked-- Abraham Lincoln. This guy Heinz lost it all. Heinz was a hustler, though. That guy could hustle. He could flat out bring the energy.
-Deedra, you bring the hustle to the workplace. You bring the hustle. How are you doing that? I always see you and you're always-- you always bring that energy. How do you do it?
-I think it's all the little things you do every day to get you to your end goal. So if you're not hustling every day, you're not going to get there fast enough. So I think you've got to set down your goals of everything you're going to do and get through that. Because it's all the little things. You're not going to have big epiphanies every single day or big things happen. I got to be real with you. I was talking to my wife today, because I'm going to have to go to maybe therapy over this or something.
Low energy people just piss me off. Because they're not going to be successful. And I've never met a-- we interviewed Tim Redmond. High energy. Interview you, high energy. I met people who are calm but they're passion. They might talk calmly, but there's a passion there, a fire just right below the surface. I've never met an entrepreneur who's like, well, you know, basically. But you see people. They come to meetings like that. Well, I suppose.
That sort of energy doesn't work.
-If you don't have that going on, that excitement for your own business, how's anyone else going to be excited about it?
-Now the thing that's though is an entrepreneur, he takes a team-- you've got to have that hustle boss. But you also have people on your team who are able to not have the ambition needed to run their own business and they were perfectly content working for someone else. And you have to-- it takes a team.
DEEDRA DETERMAN: It does take a team.
-I have to learn to like, calm down man.
DEEDRA DETERMAN: And no one cares about your business like you do. I think that's something to remember. So you've got the hustle and you're going and it's hard to get everybody else to care as much as you care about your business.
-When I go to a company and I see somebody yawn and they're the business owner-- I want to reach in and just grab their tongue and just yank it a little bit. You know what I mean? It's so frustrated. Now in your mind, do most entrepreneurs bring enough hustle to their job?
-You know, I think the successful ones do. But a lot of them-- I talk to people all the time. I just want to work a few hours. Or I just want to do this or just want to do that. In the beginning, you kind of have to do it all. You've got to do it all and bring the hustle, even the things you don't like. And then as you grow and scale, then you can start delegating that.
-I hate to reference "Shawshank Redemption" because it's not really a true story, but you know how he digs his way out with a spoon, I think? Was it a spoon? Or was it a knife? Was it a shiv?
-A chisel. He works his way out though of the prison by digging his way out over a little bit every day. That's what success is. You don't shovel. You might have a spoon. Then you dig your way to freedom with the spoon. That's what it is. And it's that daily hustle. It's the daily application. Now we're moving on to my main man George Foreman. I've met George Foreman, shook his hand. Each finger of George's is like 2 times the width of my finger. No kidding.
I remember when he shook my hand, I was like, that is sick. He could break my head with that. And then you just see fist. You're like, oh man, he's just-- you can just see-- if you were boxing with him, just boof. I'm done. Just unbelievable power. But George Foreman-- so big George. I met this guy and he actually held my son back-- this is a different story-- but he actually held my son. And this man was the former heavyweight champion of the world. But when he was young, people didn't know his name.
We now think of him as being lucky. We think of him as the guy who sold the grills. We think about him as being the guy who's held a success. But here's the story. As a kid, he grew up in the projects and he discovered boxing when he joined the job corps because he could not find work. When I think of big George, I think of a man who battled his personal demons of anger for years before discovering god during a low point of his life. I think of a man who was praying for a personal miracle and who directly challenged god-- in his book "God in My Corner", whether you believe in god or not, this is what happened.
He said, "God, if you will heal this person, I will retire from boxing and serve you and become a pastor." And the kid actually came out of the coma. And that's why he retired from boxing and then he became a pastor. Then when he was 39, he came back to box again because he thought god told him to do it. I personally don't feel like I get a lot of direct verbal commands from god. Would love to have them. But this is what George said. And so when I think of George Foreman, I think of a man who today is a pastor of a church.
I think of a man who didn't return to boxing until he felt that the Lord told him to. When I think of George, I think of a man who's infomercial has stimulated enough sales to give him a net worth of-- they're estimating $300 million. When I think of George Foreman, I think of a man who listens to god, a man who inspires me every time I hear his name. I think of a man who just-- I love George Foreman. George Foreman, I love you.
But it's just amazing, because I was going through a low point in my life, I read his book, and he encouraged me. I don't think a lot of people realize that George Foreman though basically felt abandoned and grew up in the projects and felt like a loser. And he only found boxing through the job corps.
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