[00:00:02] Speaker A: Ramping up your business. The time is near. You've given it hard, now get it in gear.
[00:00:08] Speaker B: It's Passage to Profit with Richard and Elizabeth Gearhart.
[00:00:12] Speaker A: I'm Richard Gearhart, founder of Gearhart Law, a full service intellectual property law firm specializing in patents, trademarks and copyrights.
[00:00:20] Speaker C: And I'm Elizabeth Gearhart, not an attorney, but I do marketing for Gearhart Law and I have my own startups.
[00:00:26] Speaker A: Welcome to Passage to Profit, the Road to Entrepreneurship, where we talk with entrepreneurs and celebrities who tell their stories about their business journey and also share helpful insights about the successes that they've had.
[00:00:38] Speaker C: Did you know that 2 in 5Americans want to start a new business or are business owners? Well, we have lots of information to.
[00:00:45] Speaker A: Help them too, and we also talk a little about the intellectual property that helps them flourish. It's time for your new business journey. Two in five Americans want to start a new business or are already business owners and they have questions about entrepreneurship. We always like to ask our panel some questions that our listeners like to hear about. So today's question is what is an essential mindset shift for aspiring entrepreneurs? So once you become an entrepreneur, it requires a different perspective and a different view. And so we'd like to hear from our panel, what's that all about? So, John, tell us, what kind of shift do entrepreneurs need to make mentally in order to be successful?
[00:01:29] Speaker B: One thing to be entrepreneurs, Richard, is that some people have the idea that what entrepreneurs do and successful business people do, they plan holidays and bring money to the bank. That's mainly what they do. The opposite, obviously, is the truth. You have to, especially at the beginning, you have to learn to sleep fast and work long hours. So I always said I work 247 and I sleep fast. So that's when I did the first 30 years of my entrepreneurial journey.
[00:02:04] Speaker A: That's great advice. How did you learn to sleep fast?
[00:02:07] Speaker B: The company called on me and said, hey, we want you here at, you know, 4:00 in the morning.
[00:02:13] Speaker C: For anyone that's had a new baby in their family, it kind of sounds like the same thing.
[00:02:18] Speaker B: It likes ears.
[00:02:19] Speaker A: Thanks for that, Neil. Mindset shift.
[00:02:22] Speaker D: I think the biggest mindset shift is don't think that you are going into entrepreneurship to be your own boss. Think you're going to serve others. You know, that's a reality. A lot of times people realize when they get into it is that you don't control things. You actually need to serve people who are going to use your product or service. So you're serving them and what do they need? You're going to be serving the people you work with or that work for you, and what kind of environment can you create? The people that are stakeholders in your business that are investing in you, are buying products from you and supporting you. So I think if you think about it with that type of mindset, it really kind of frees up creativity and starts making you think, okay, let me design solutions, get feedback. Okay, they want this. They want this. But I think that's a thing. A lot of people just think, oh, I'm going to be entrepreneurship. I'm going to be own boss. No, it's like you're actually going in there to serve other people and in effect, they're going to be your boss.
[00:03:08] Speaker A: What an amazing point. That was excellent image. Welcome to the show and tell us, what do you think?
[00:03:14] Speaker E: Yeah, I think the big one is failure. Like learning that. I really had to. I was like, yeah, I really had to get very comfortable with failing and failing forward and just understanding that that was a part of it and I had to learn from it. But there were plenty of days that I fail constantly. And the beginning is all about failing and learning and getting feedback and doing better the next time and not giving up.
[00:03:32] Speaker A: That's a great point. We all make a lot of mistakes. I often tell my team that I've made more mistakes and cost our firm more money than all of them combined. You know, it's just part of the game.
[00:03:43] Speaker C: I think you have to be prepared for the shock of not getting a regular paycheck.
[00:03:49] Speaker A: Yeah, you have to toughen up. You know, when you're an entrepreneur, you're directly interfacing with the world. There's no corporate shield there protecting you. You have to deal and you have to negotiate and you have to push. Those are important skills. And I think it's, you know, toughening up and just really being able to ride out the ups and downs. It's always good for our audience to hear some of the things that they have to factor in when they're making a decision about starting their own business. Passage to Profit is a nationally syndicated radio show appearing in 38 across the United States. In addition, Passage to Profit has also been recently selected by Feedspot Podcasters Database as a top 10 entrepreneur interview podcast. Thank you to the P2P team, our producer, Noah Fleishman, and our program coordinator, Alicia Morrissey, and our studio assistant, Risiket Bussari. Look for our podcast tomorrow anywhere you get your podcast. Our podcast is ranked in the top 3% globally. You can also find us on Facebook, Instagram X and on our YouTube channel. And remember, while the information on this program is believed to be correct, never take a legal step without checking with your legal professional first. Gearhart Law is here for your patent, trademark and copyright needs. You can find
[email protected] and contact us for a free consultation. Take care everybody. Thanks for listening and we'll be back next week.
