For this week’s episode, I interviewed legendary entrepreneur Ed Mylett. He’s the creator of #MaxOut and an industry leader in the world of financial services.
But before Ed became an empire builder, he was an injured athlete who lost his dream of becoming a professional baseball player. And before that, he was “little Eddy who’s shy.”
Listen to the episode (you can watch it here) or keep reading to find out how Ed created such a profound personal transformation.
The whole interview is full of gold nuggets and right here I’ve picked out the five biggest lessons from Ed that you can apply to your life and your business right now.
How Ed Changed His Personal Narrative
“You find yourself in this dark space. It’s like a dark tunnel. And there’s the honest answer: I just ran into the tunnel. I just ran full speed, bleeding, down a path. I got up and I ran somewhere.”
After being raised as a “shy kid” and losing his dream of becoming a professional baseball player, Ed had a personal narrative that was steering him towards failure.
You may not realize this, but if you are currently in a slump in your business or in your life then you most likely have an inner narrative that’s holding you back.
For you the narrative might be “I’m not smart enough” or “I don’t have money to make money” or “I don’t have enough time” or any number of things.
Follow Ed’s example: start running in the direction of success before you feel ready to do it. Do that for long enough and it will reprogram your brain and your body to attract success.
Why Service is the Only Way to Build An Empire
“The connection is it’s the only thing that’s going to sustain itself…Getting money is motivation. Serving people is inspiration.”
Being an entrepreneur is not easy. In fact, it’s one of the most demanding, stressful, anxiety-inducing paths you can take.
If you are only in it for the money, you are going to quit. There will come a challenge that is so painful that the money isn’t worth it anymore.
On the other hand, if you are in it for service, and the money is just a byproduct of serving others, then you will have the fuel to push through any challenge or adversity you face.
Why You Should Never “Negotiate the Price”
“Most people are constantly negotiating the price. In other words, they waste so much energy in their mind with ‘Is it worth it? is it not worth it?’ Just negotiate it in advance: ‘There’s not a price I won’t pay’.”
Too many people make their success optional, which means that it’s too easy to give it up in times of adversity.
True leadership and success comes from finding solutions to problems. To be the person who always finds a solution, you have to make the commitment in advance that you will never, ever back out.
The One Thing You Must Do to Survive Weakness, Doubt, or Pain
“Most people make decisions to quit their business in moments of weakness and pain and emotion and not with the ultimate version of them in mind. If you’ll always be thinking about the end of your life, not the current conditions you’re in, you’ll always make the right decision.”
Amen!
Why “Management” is an Illusion
“You know as well as I do: explosive growth in a business is messy. You’re going to have to embrace some mess, some disorganization, some imbalance of some type.”
This is especially important if you’ve already had some success in your business. Your job as a visionary leader is to push your business and your team to become something better than they were yesterday.
That’s not the same thing as management. Management is all about maintaining what’s working already. You need to be the visionary. You need to be creative and courageous.
And if you want to hear more of Ed’s powerful story and advice, click here to listen to our “Inside Look” episode.
Committed to your success,
Bedros