Becoming Entrefied with Patrick Hughes

ENT 49: You Can't Start Perfect

January 29, 2020 Episode 49
Becoming Entrefied with Patrick Hughes
ENT 49: You Can't Start Perfect
Chapters
Becoming Entrefied with Patrick Hughes
ENT 49: You Can't Start Perfect
Jan 29, 2020 Episode 49
Patrick Hughes

No one begins their career, business, or investing or even life perfect. If we did, there’d be no point in living it.

Today we will cover how to get closer to being perfect in business and investing with 2 powerful tips.

Show Notes Transcript

No one begins their career, business, or investing or even life perfect. If we did, there’d be no point in living it.

Today we will cover how to get closer to being perfect in business and investing with 2 powerful tips.

Support the show (https://podcast.entrefied.com/gift)

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Are you ready to be entre vied? Let's break free of the life we're told to live, create freedom and well, by adding value to others live challenge traditions, challenge authority and get entre fied. Hey, guys, welcome to show. Are you ready to get onto if I've got some great stuff for you coming up, guys, Um and I'm actually trying something new today. A very different but yes. So the show has started. It's gonna be about You can't start perfect. There's nothing that you do that you can start perfect in. I don't care what it is, man. You don't just hop in the pool and beat Michael Phelps. You're not a perfect swimmer. You just don't do stuff like that. So we're gonna cover that today. Um, And what's the show about Entre fi? What is on front about? Well, we're here to help you get it at next. Step in your business, whether your brand new or veteran here for you said simple, no one begins their career business or investing or even life perfect. That if we did, there'd be no point in living or even doing it. I mean, you wouldn't have any competition would be kind of boring. Honestly, Um, so, yeah, today we're going to cover how to get closer to being perfect in business and investing with two powerful tips. All right, So look, I just wanna tell you guys know what's going on me on this beautiful January 29 2020 almost in the first month. And I see a lot of World War three means, you know, we got a new virus got impeach me going on, and he is crazy. These first couple, its first month of the year is like a rodeo, And I got a tool concert coming up next week. Pretty excited about that. Um, yeah. My cat is actually sleeping on the desk under B. I'm standing up recording this because I came in this funny realization. I was like, Why do I set down on record stuff? Why do I say you should stand up? It's like you're talking to the audience who's just sits down and talks to an audience. Nobody. So it was like, Oh, my gosh, Maybe I should, uh, so Yeah, it's It's quite a door. Will have the cat in here. I hope he doesn't knock over anything. That's kind of funny. Um, so, yeah, just I started off perfect. Just just getting guys. I'm I am so far from perfect. I mess up at least 10 times a day. I misplaced something. I say something wrong. I have these thoughts where I'm like, looking back 10 years ago, like, Oh, my God. Did I really say that to that girl? Oh, my gosh. So on bears, uh, actually put a cup in the microwave one time? Yeah, I was working my 9 to 5 slave job, and, uh, I was walking in there one morning, like, six o'clock. I had my little, uh, cup. I'm just doing the cooler talk, you know, talking with the with the boys and, uh, I don't know what came over me, but I put some coffee in the microwave, and it was in a metal cup. I didn't realize it, and I turned it on for 20 seconds, maybe 30. I was like, do this coffee, Just saying he'd know broke. And like I was half asleep, I wasn't even I was out of that was so out of it. I was so ready to leave that job and I was like, Dude, I hate working. Made just over broke. That's what job seems for. I was literally working to pay the bills. That was it. No purpose in life. It was awful. So if you've ever been like that, man, come talk to me. Patrick used 9000 Facebook. Just come hear me up. Man sent me a message like, bro help because it sucks. It sucks to be in that spot to be cooler talking, warming up in microwave and metal. I probably subconsciously wanted to end it for myself. I probably was like, You know what? I don't wanna be here anymore, like my subconscious. Like, just give me out here, bro. And anyway, so Yeah, that's stupid. Blunder mind. But I'm far from perfect, and I'm sure everybody does just stupid stuff like that. I mean, I remember so many things that I've messed up on, but anyway, let's get to the meat potatoes, guys, Here's the two tips. Powerful tips I came up with. Um, I don't want to do too much because I feel like people overload these podcasts. They give you too much stuff. And if you're running like I am or working out in the gym. You go have a pen and paper. I don't have a pen and paper to go in depth. I don't just set out and go in depth, and a podcast is an hour long. Get zoned out. I'm driving the car. I don't know about you guys, but this is my thoughts. So I'm like, I need more more mindset. More motivation, Maur Maura's stuff that a simple that I could take action on keeping it simple. That's what we're here. We're keeping it simple. We're keeping it going. All right, So number one. Tip them one. Identify where you are failing in your business, All right, Are you brand new to business or you don't have one? Clearly, that's a failure. Because, man, let me tell you, there's so many cubicle jobs. Suck me and it's like you get changed your desk. You can't leave. Let's say you don't show up for work tomorrow. You're going to get phone calls. I mean, it's just you are chained to that desk, and it's awful. So I if you're like me, you want to start a business. You don't want to be stuck in that and I hilariously, my first business, it took off. Was selling daybeds sold daybeds? Um, yeah, I didn't know what that was, but selling furniture. I mean, obviously, there's a lot of options in the world now to to make money and to really get out of debt to get out of your job. Whatever. There's a lot of options out there. It's 2020 man 2020 Knew. Knew what decade? I mean, come on, man. We have we have spaceships going to space. We have We're going to be having commercial flights into space. If you are still working in a cubicle, man, it's not 1990. I mean, you gotta break out of the so that's clearly a failure if you don't have a job or a business. Sorry. Um, and it's okay if you do have ah, job and you're working on your business on the side. But my point is, you at least gotta get some momentum going. Clearly, your primary job isn't enough to support you anymore. You have to have something on the side or something full time, you know, business going nowadays to survive, uh, and for people to do have a business are your profits stagnant? Clearly, you have a product or sells issue markings you. One of my biggest weaknesses is marketing and sales. Like, I just feel so pushy when I ask people to do something or buy something I'm like, Oh, my gosh, which that reminds me, guys. Hey, please head over apple Lisa feedback on the iTunes store. Let's let me know what you think about the show. What I could do differently. I loved have feedback. I had to feed back from you guys in here for me and be like, Okay, I'll do that. So I know you guys have some great opinions out there. Really love to hear them. I believe in you guys. I believe in you. Hey, it doesn't matter if your business job, whatever I believe in you to make the right next step and right decisions. I don't know if anybody told the other while, but I'm telling you that right now I believe in you. All right, step or tip? Number two. Stop thinking you missed the top. Stop thinking you missed the boom. Stopped thinking you missed the dot com bubble. Stop thinking you miss stuff like that. Oh, you know, man, that was That was a dot com era. I missed that air. Stop thinking you missed opportunities because guess what? Where you miss one opportunity, there's at least 10 20 more out there. Perfect example. I invest in the stock called Space and just disclaimer not tell me to go by this. I personally invested in this stock. It's space and it's Virgin Galactic holding company owned by Sir Richard Branson. Dude owns tons of companies Super successful. Why would I not invest in this Theo only space company on the entire stock market? So I bought a bunch of it. It kept going up and up and up and up. And the three months I have it, it was up 100%. And I was like, Oh, my God! So I bought more at the top. I mean, sure, that brings my average price up. But this stock is not losing momentum, and the amount of potential there is absurd. It's absurd. It means to infinity and beyond, you know, total total Buzz Lightyear joke there. But the amount of potential space has financially and value wise for other people is massive. Guys, if we if we could colonize Mars and the moon, you know that would help with the population problem and a lot of other things. They would bring new minerals into the world that maybe we could affect climate change with. So you have to invest in things and your business and your personal life with stocks, whatever you have to invest in, things that you believe are going to change the world. You know, Warren Buffett always talks about by something you would could see yourself running. You could see yourself being part of, and I would love to be a part of space. But I mean, it's so exciting. So but guess it stopped thinking he missed the top. It was up 100% about Maur. It kept going up. One of the biggest complaints I hear when it comes to investing or starting a business is that it's already been done or there's too many people or the stock is the highest it's ever been. Why would I buy more? And it's because mo mentum it's because mo mentum I'm gonna tell you guys the action steps to take to take advantage of this moment. Um, because there are some things you have to look out for when you do stuff like this. But my point is stop thinking you missed the top, all right? And identify where you're felling in your business. Two very important things you can do to push forward to go to that next level that next step in your business. All right, so the main point of this episode is identifying where you need to improve. I mean, it's not difficult, guys. What is difficult is doing something about it. All right, That's the hardest part. If you suck it something, you really don't want to do much about it. And I don't recommend you trying to become a master. Everything. If you are a a I don't know if you're a squirrel, you're not gonna try toe learn howto fly. But guess what? Flying squirrels, they need to learn how to fly. So they could, I guess, flight of different trees. So they didn't master flying. They became better at it. Adapted learned something new, and they're probably better than regular squirrels. I just saw scroll outside. That was a good analogy, but that that's something that you have to do is you have to get better at it. You don't necessarily have to master it like I'm like I said Terrible. It's sales and marketing. Alright, I'm reading a book right now called The Little Red Book of Sailing. And it's just principle on selling. And I'm I'm gonna take a course on ah marketing because I need to get better at it. I'm not gonna try to master it. I'm not gonna spend thousands of hours. I'm going to get good enough at it where I'm proficient that way when I goto outsource it and hire somebody to do it for me Because you're a business owner, you delegate, you don't do everything you delegate it to who's the best fit for it? That's what a business owner does. So I'm gonna go search for someone that is good are really, really great, but for a great price. You know, in economics, you don't want to go buy a flat screen TV when they're first produced. You wanna wait a few years, let the price come down a little because when the price come downs a little, the quality goes up because more people start competing to make it better So you kind of want to lose your train of thought, because that's what I just did. But anyway, my point is is you need to become good at something. You don't have to be great at it. You become good. That way you can identify someone who is great at it, because right now I don't have If I if I just went out there with not a lot of experience in an area, and I decided to hire somebody, like, kind of like I know I need some work done, some would work done on my, uh, my living room, my dark chewed up the freaking ah, border of the window. Um, really mad about that. But if I need that work done, I need to first identify how it's done, what you need to do it. They're not gonna hire somebody and be like, Okay, that's a reasonable price. All right, so I haven't recommend taking a Booker course on something. If you aren't that great at it and stick with it to the end, finish it. So here's the action steps to take advantage of identifying where business felling and stop thinking. You missed the top two tips. I'm gonna happen. Here's the action steps to take action towards identifying those and making something of it. All right, So tip one's action step looking your business or investments and see what the weak point is. What's the weakest link? Because that's what's gonna break you that weakest link. If you lost a lot of money in something, don't hold it any longer. If you have a stock that's down 10 20% and your salty you're gonna keep holding to it makes profits. Don't do that. Don't do it. It doesn't work. It doesn't pay off that you could wait 20 years. Or you could take that money out reinvesting. There's something that goes up 50% in, like, two months, and then you just made it all back. All right. If you got a business that's failing, don't be afraid to sell it. Get rid of it. Get it off your hands. It's like an infected arm. You're gonna leave your infected arm on your body, too, to infect the rest of your body, or you gonna chop it off. I mean, it sucks to do that, but you got to do it. Tip number two when buying something that's hot, like really like in a real estate sector like I live in Nashville, Tennessee. All right, if I'm gonna buy some real estate in Nashville, it's hot right now. I've got a house in Nashville and it's hot. It's the price has been going up a lot, and I'm going to sell it in a couple years or running out because the valuation is through the roof. It's crazy or a stock. It's a fantastic strategy if this is what you're gonna look out for, guys, if there's a lot of volume and you have an exit strategy and exit plan. When I bought this house in Nashville two years ago, I had an extra strategy I was selling or renting it out in five years because the market's gonna explode. All right. Simple, simple. And if it's launching like a rocket and has a lot of fuel left, which is volume, which is hype, then hop on, buy high, sell higher, You know, if you buy ho you If you If you bought a low, you sell higher. That's very difficult. Okay, you're really gambling at that point, you're looking at all these penny stocks, big coin, all these different investments that started out as a couple pennies on the dollar, and you're really just guessing. But if it's something that's high at the top like a M D right now superhot stock, it's It was the hottest stock on the stock market last year was a hup up 100%. That's a hot stock. And guess what? In the first month this year, it's already went up out of No. 20 more percent 10 24% because it's on fire. There's a fire somewhere. I mean, you need to go to it and you need to trunk some more wood in there. Something get get, get to be a part of it, because you're not going to just go around looking for, you know, buying low, so high. That's so difficult. And it's okay if you do try that. Do do that. I mean, you can definitely get that shot, but I recommend you find something that's on fire that's rocketing upwards. All right, so the best time to plant a tree was 20 years ago. The second best time is right now, so get out there, plant some trees guys, if you need me, hit me up on Facebook. Patrick, use 9000. Hit me up. I'll gladly help you give you whatever I got. All right, Have a great rest of your day. See tomorrow. Are you feeling entre fied yet? We hope so. For more information and news updates, check us out at www dot entre five dot com for contact patrick directly on facebook dot com slash patrick Hughes 9000.
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