Business Bourbon & Cigars: Episode Summary

Episode Title: Secret Mindset that Top Entrepreneurs Use to Dominate Their Markets
Release Date: May 29, 2025
Host: Scott Joseph

Introduction: Rethinking Growth

In this compelling solo episode of Business Bourbon & Cigars, host Scott Joseph delves deep into the essence of true growth for entrepreneurs and business leaders. Moving beyond the conventional hustle-and-grind mentality, Scott emphasizes that "Growth is not about doing more. It's about becoming more" (00:02). This foundational principle sets the stage for a transformative discussion on adopting a growth mindset to elevate both personal and professional lives.

Personal Journey: From Success to Fulfillment

Scott begins by sharing a pivotal moment in his entrepreneurial journey. Despite running multiple successful businesses and enjoying financial freedom, he felt an underlying sense of unfulfillment. "I had achieved what most people from the outside, I guess, would consider success. But for me, I just felt unfulfilled" (00:02). This introspection led him to recognize that his growth had stagnated due to a fixed mindset, where he was overly attached to existing strategies and resistant to change.

The Catalyst: Meeting Jay Tepley

The turning point came when Scott connected with Jay Tepley, a business transformation expert. "Jay's work with me didn't just shift my mindset. It made me confront my fears, my limitations, my resistance to change" (15:30). Through intensive coaching sessions and a transformative retreat in Costa Rica, Scott was guided to peel back layers of self-imposed limitations, ultimately embracing a growth mindset that prioritized evolution over mere expansion.

Strategic Pivot: Redefining Business Success

Armed with new insights, Scott decided to pivot his business strategy under the guidance of the newly appointed CEO, Jamil Zabane. "When I brought Jamil in as CEO, he suggested a bold shift... reducing our large sales team and shifting our focus to enhancing client support, marketing strategy, and our data insights" (30:45). Initially skeptical, Scott soon realized the profound impact of this change:

• 300% Business Growth: A significant increase in overall business metrics.
• Enhanced Client Retention: Strengthened relationships leading to higher client loyalty.
• Triple ROI for Clients: Delivering value that surpassed competitors by threefold.

Key Insights: Developing a Growth Mindset

Scott outlines four actionable strategies to cultivate and maintain a growth mindset:

1. Embrace Challenges:

   • "Growth never comes from comfort. The biggest breakthroughs happen when we push through what feels impossible" (45:10).
   • Encourages facing challenges head-on as opportunities for growth.

2. Reframe Failure:

   • "In a growth mindset, failure is just feedback. It's part of the process" (50:25).
   • Viewing failures as learning experiences rather than endpoints.

3. Cultivate Curiosity and Continuous Learning:

   • "The best leaders don't stop learning. They push themselves to explore new ideas" (55:40).
   • Commitment to ongoing education and exploration to fuel growth.

4. Surround Yourself with Growth-Oriented People:

   • "You're the average of the five people you spend the most time with" (1:00:15).
   • Advocates for building a network of mentors and peers who inspire and challenge you.

Actionable Steps: Implementing the Growth Mindset

Scott challenges listeners to take immediate action: "Pick one area of your business or life where you might be resisting change. Embrace it as an opportunity to grow" (1:05:30). This call to action is designed to help entrepreneurs identify and overcome specific barriers to their growth.

Community and Support: The Leadership Retreat

Highlighting the importance of community, Scott promotes the Business Bourbon and Cigars Leadership Retreat as a pivotal opportunity for entrepreneurs:

• Collaborative Environment: "These aren't just contacts or acquaintances, they're true allies who are going to continue to support you long after this event ends" (1:20:50).
• Actionable Insights and Networking: Participants gain strategies for innovation and build meaningful, lasting relationships.
• Special Offer: The first five listeners receive a 50% discount on retreat tickets by visiting me+Ultra.com BBC50 or clicking the link in the show notes.

Conclusion: Embracing Transformation

Scott wraps up the episode by reiterating that "Growth isn't about adding more to your plate, it's about evolving your mindset to unlock what's already inside you" (1:25:00). He encourages listeners to adopt a growth mindset to not only achieve business success but also attain personal fulfillment.

Key Takeaways:

• Growth Mindset vs. Fixed Mindset: Emphasizing personal development over mere business expansion.
• Embracing Change: Letting go of outdated strategies to make way for innovative approaches.
• Resilience through Reframing Failure: Viewing setbacks as opportunities for learning and growth.
• Continuous Learning and Curiosity: Staying ahead by constantly seeking new knowledge.
• Power of Community: Building a supportive network to sustain long-term growth.

Notable Quotes:

• Scott Joseph: "Growth is not about doing more. It's about becoming more." (00:02)
• Scott Joseph: "In a growth mindset, failure is just feedback. It's part of the process." (50:25)
• Scott Joseph: "You're the average of the five people you spend the most time with." (1:00:15)
• Scott Joseph: "Growth isn't about adding more to your plate, it's about evolving your mindset to unlock what's already inside you." (1:25:00)

Final Thoughts:

This episode serves as a profound reminder that sustainable growth stems from internal transformation and mindset shifts. Scott Joseph not only shares his personal journey of overcoming stagnation but also provides listeners with concrete strategies to foster their own growth. Whether you're an established entrepreneur or just starting, adopting a growth mindset as outlined in this episode can propel you to new heights both personally and professionally.

For more insights and strategies, be sure to subscribe to Business Bourbon & Cigars and join Scott Joseph on the path to meaningful growth.