Latest EOFire Podcast 158: What I learned about running a successful business

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

lessons on running a successful business

In November 2011 I quit my corporate job in San Diego, packed my bags, and moved cross-country to Portland, Maine.

Upon arrival, you can imagine those I met had a few questions, like:

  • Why Maine?
  • Why would you leave San Diego?
  • What made you quit your job?

The first two were easy to answer: John Lee Dumas.

The third one – that’s the one I probably answered ten different ways before finally realizing myself what actually made me quit my job.

It was then that I realized how big of an impact reflection can have on our journey.

Had I not been asked 345 times what made me quit my job, I very well would have continued living my life, never stopping to think about how I ended up where I was.

The impact reflection can have on our journey

Since that realization – about the impact reflection can have on our journey – I’ve taken reflection very seriously in every area of my life.

In terms of business:

  • Reflection is what helped me realize what I’m best at.
  • Reflection is what has helped me uncover multiple times why I’m in a funk.
  • Reflection is what helps me create my goals for the next year every single December.
  • Reflection is what helps us discover the things we’re doing right in our business – and more importantly, the things we’re not doing right.

As you can see, reflection has played – and continues to play – a huge role in my every day success as an entrepreneur. Without it I don’t know where I’d be, but it certainly wouldn’t be where I am right now.

Practicing what I preach, I recently took some time to reflect with John on our biggest lessons learned in 2016 so we could share those with you.

It didn’t take us a long time, nor was it some master plan we had to come up with before getting started.

We simply carved out 30 minutes of time, removed distractions, and started writing down what we’ve learned this year.

And here are the results…

Our top 9 business lessons of 2016

For details on each of the top lessons listed here, tune in this episode!

Fail To Plan and You Plan to Fail

  • How much time is wasted when you don’t have a plan in place
  • How planning helps you take massive action

Mindset Dictates Action

  • Every time you feel something, do something, or react to something, you have a choice to make.

Recommended reading: Awaken the Giant Within

The Big 3 for Mastering Your Day

  • Productivity, discipline and focus

Recommended resource: The Mastery Journal

Reflection is Necessary

  • I’ve learned more this year from taking a steps back and reflecting on my previous experiences – and the experiences I’m having in the moment – than from anything else.

What it Means to be an Entrepreneur

Recommended resource: Kate’s Take Season 4

Connections Required

  • In both business and life (asking for recommendations, learning from those who came before you, etc)
  • Support and guidance are integral

Recommended reading: Never Eat Alone

Freedom: You Get To Choose

  • The Freedom Journal and watching those in the Freedom Journal group accomplish – crush – their goals!

Recommended resource: The Freedom Journal

Community Is Crucial

  • How Fire Nation continues to encourage, motivate and inspire us in everything we do.

Managing a Team

  • It’s the best and the toughest thing you’ll do as an entrepreneur.

Recommended reading: Virtual Freedom

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