Here is the complete transcript of the podcast
Today on the podcast, I’m sharing something with you that I recently shared with a bunch of business owners and entrepreneurs. Recently, last week, I was speaking to a group of business owners and entrepreneurs. And I was sharing my presentation was the five ultra secrets of successful entrepreneurs. Now, there are many secrets when it comes to entrepreneurs. But according to me, I was sharing the five ultra secrets. These are the five things that I did, or I do, as a part of my entrepreneurial journey. Now, this is I’ll give you the background of this meeting so that everything I’m sharing with you makes sense. So for about five years, I ran an inner circle, where a bunch of us get together, kind of a mastermind, where we share what’s happening in our business life, and what’s happening, not personal life, like personal development stuff. So each one of us will get like 30 minutes or 45 minutes, and we talk about everything that’s happening in the business. And in our life. The idea is that all of us walk away from the room with some great insights.
So we learn from each other. That’s the idea. I’m the mastermind of the mastermind, kind of I’m putting everything together. But I’m not the teacher in the room. Everybody teaches everybody and everybody learns from everyone. So the last time I did a mastermind like this, or the inner circle mastermind, we used to meet once a quarter. And then since last October, we haven’t done this. So just last month, I initiated the call, I said, Hey, guys have been a long time, let’s get together and see where we are. Not that I want to do this going forward. But it was kind of checking on each other and trying to see how each one of us is doing. So as a part of this meeting, I was, I said, there are five things that ultra entrepreneurs do, like super successful entrepreneurs do. And these are the five ultra secrets. And that was the overall presentation, I want to give you a quick snippet of what I shared. And this was a 45-minute presentation. But you will get an idea. And you will get an insight into how I was thinking through this. This is what I do and if you are considering becoming an entrepreneur, or you’re already an entrepreneur, then this will help you. Now if you’re not an entrepreneur, and you’re still listening to this podcast, I promise you everything in life is entrepreneurship.
Anyway, there are many things that you are doing, that are not working, there are many things that you are doing that are working, and most of that has an element of hope, and an element of exploitation anyway. So you will get some value out of today’s podcast, regardless of what stage of life you’re in, and what role you play. This podcast has listeners who are homemakers or students who are retired, who are elderly, who are professionals, and small, different kinds of people listen to the podcast, and I get the feedback. So that’s how I know who is listening. So all of you buy gold with today’s content is that you will benefit from it anyway. So I’m only giving and sharing that which will make sense to you. So you will get like the really the 1% of what I shared in the room. But still, this one person is going to make sense as if it’s 100%. For you, that’s my goal. Okay, so let’s get into this. The first ultra secret is entrepreneurs read and read a lot. And this reading is something that I have been insisting on a lot on this podcast, and also on my radio shows, read, read a lot. And as you read, you do something incredible to your brain, your brain will start behaving as if it’s living that which it’s reading. So input matters. So put in as much as you can. Don’t worry about retention, don’t worry about memory, but just get into the habit of reading a lot. He does incredible things to your understanding. The reason why entrepreneurs read a lot is that entrepreneurs by default are action takers. So if by just reading assimilating and getting information, the action in itself improves, then why not? Why not improve the action? So the read to take action entrepreneurs to the second is entrepreneurs are risk takers. The reason why they take risks is that and I was thinking about this, you know, as an entrepreneur, people give up their savings people give up their houses, people give up their jobs, all kinds of sacrifices they make they are extreme risk takers. I think myself to be an extreme risk taker, and I’ve done some crazy things. Love the risk. Love the risk and sometimes the risk has to do with life also loved that part too. And I’m looking for opportunities to take risk myself.
So you see that entrepreneurs are always chasing opportunities. So they stretch what they have so that they can chase opportunities. So when you stretch something you’re risking for it to break, we all scratch. And entrepreneurs stretch hence, they are risk takers. So the risk is a big element in this. The third one is revenue. Revenue is all the time looking for what can I do to increase revenues? salaries, raise my price, shall I make another offer? Shall I make an upsell and down-sell offer? Or shall I do something? What can I do to raise it? So I add more leads? Or shall I convert existing leads better? Or shall I make more offers to existing customers, which I converted? This is the mindset of constantly thinking and looking into, you know, what can I do to increase revenues? Now if you’re an employee, right now, let’s say you have a job and you don’t have a business, you shouldn’t be asking the same question, What can I do to increase my revenues, and sometimes I hear people telling me, oh, I’m going to go and invest in the stock market. And I’m going to, you know, save or whatever, yeah, all makes sense. But you got to be thinking a lot about whatever ways you can, legally, ethically, morally, in whatever state you are in right now, to increase revenues. And that will involve saving more, or investing more, whatever it is, but you need to start putting pressure on that side of the brain for it to start expanding and thinking so it can create possibilities for you, then entrepreneurs do ultra-secret, the fourth ultra secret is entrepreneurs relate. See, relating means network, and meet people, every interaction, every conversation creates an impossibility. And we don’t know whether it is a revenue possibility, or it’s it’s a co-creation possibility, we do not know what but we know that every relationship or every interaction has some value, that may not be directly a currency value. But it could be some intrinsic value will not know what it is. But it has some. So entrepreneurs keep on building relationships. And a part of the relationship building involves networking and a lot of networking. So there is also another aspect of this relationship building is communication. So I’m an entrepreneur, this is the podcast, I’m communicating with you. If I’m not relatable, and this is not making sense. What will you do? You will listen to me because you may know me or you heard about me, whatever, somebody told you to listen to the podcast, you’re going to tune out. And you may never come back. The data shows now that people who stop listening, perpetually stop listening, it’s hard to bring them back to listen to something.
So there’s a lot of pressure on me. And I need to relate to you in a way that it makes sense. If not, do you. And it’s hard because I’m not listening to you, as I’m trying to make you listen to who I am and what I’m doing here. So there’s a tremendous amount of responsibility and pressure on my end on me to make every conversation I have here more meaningful to you. If not, there is nothing meaningful together we can create. So as an entrepreneur, you have to keep on looking into improving your communication. I talk about it a lot on the podcast, you need to look for ways and means to increase your vocabulary, the way you deliver the way you create emotions, the way you create everything, everything. And I’ve been very vocal about the challenges I have in speaking English because English is not my first language. And I struggle a lot because I’ve studied three different languages in school. And I learned three different ways to convey my feelings. It’s very hard to speak English. I really have to dial in to speak English. Hard, but has to be done. entrepreneurs do network. So keep networking doesn’t matter. You’re an employee, you’re looking for a job network card, and the last one is the fifth one is to recover. Listen, all of us You mean at this minute at this moment, all of us are taking risks. We all are risks risk takers and talked about risk-taking already. But then there’s also one other thing we are doing which we consciously will agree or not agree most people don’t agree. But I want you to agree, which is we are making decisions at this moment right now. Either you are entering into something or you’re exiting something that means you made a decision to get in. And you are making a decision right now to come out so we make decisions by simply reading the quality of the decisions that we’re making that you’re making right now, you raise the quality of your life. So, as an entrepreneur, and specifically in this context, entrepreneurs are trying to raise the quality of the decision-making.
So consequently, they’re making decisions, some decisions play out well in favor, and some do not. And every time there is a wrong decision, there is a setback, there is some regression there, the pullback, they have now recovered very, very quickly. So recovering from losses, recovering from bad investments, recovering from bad client interaction, recovering from a bad personal conversation, whatever it is, entrepreneurs, go through a lot. And recovery is an important element. You get the idea now. So these are the five Rs. The My presentation was the five R’s, the five ultra secrets of entrepreneurs, and I call them the five R’s, read, risk, revenue, relate and recover. I oversimplify this, but I went very in detail, I went very deep into this presentation. Hopefully, you got some value from this. Hopefully, I was able to relate. Hopefully, I was able to read this out. Hopefully, you took it without experiencing any risk.
Hopefully, this will create some revenue for you. Hopefully, you will be able to recover from something that you did, without much knowledge, or some loss you had as a result of today’s podcast. Okay, that’s all for now, wherever you are, be safe, and I’ll be talking to you as early as tomorrow. Thank you.