Podcast Summary: “It’s a Good Life”

Episode: S2E272 – Ed Mylett: The Power of One More
Host: Brian Buffini
Guest: Ed Mylett
Date: February 25, 2025

Overview

In this invigorating episode, entrepreneur, best-selling author, and speaker Ed Mylett joins Brian Buffini to discuss the philosophy behind his new book, The Power of One More. The conversation dives deep into personal transformation, entrepreneurial perseverance, the power of identity, and the crucial roles of faith, intention, and association. The episode is dense with actionable insights for entrepreneurs and anyone on the path to personal growth.

Key Discussion Points & Insights

1. The Origin and Meaning of “One More”

[02:00–03:55]

• Family Story Rooted in Recovery:
  Ed shares how the “one more” concept originated from his father's battle with addiction. His dad promised to get sober "one more time," embracing a day-at-a-time mentality that became a bedrock for Ed’s life philosophy.

  • “He said, ‘I can’t promise you I’ll never drink again. What I can promise you is I’m not going to drink for one more day at a time.’” – Ed Mylett [02:24]

• Life Applications:
  “You’re much closer to changing your life than you think you are. You’re one more decision away... one relationship, one new event, one new decision away from changing your life.” – Ed Mylett [03:25]

2. The Power of Perseverance in Business

[04:06–06:50]

• Personal Experience with Not Quitting:
  Ed recounts a time he nearly quit early in his entrepreneurial career. His father’s advice – “Just don’t quit for one more day” – was pivotal.

  • “Just, like, don’t quit for one more day. See how you feel tomorrow.” – Ed’s dad, as recalled by Ed [04:47]

• Entrepreneurial Luck & Openness:
  Ed tells a story about a friend who lent $100,000 to Jeff Bezos in 1984, turning it into nearly $800 million—a striking example of “one more” opportunity.

  • “You never know when that one’s coming... you’re one new investor, one new partner away from totally changing your life.” – Ed Mylett [06:39]

3. Genius Principles from Recovery (AA)

[07:08–09:22]

• One Day at a Time:
  Both speakers emphasize this principle as a form of hope and a manageable approach to life's biggest challenges.

  • “You can do anything for one day.” – Brian Buffini [07:19]

• The Importance of Community:
  Discussing how being part of a supportive group is transformative both in recovery and in entrepreneurship.

  • “It’s the community part of it. It’s the associations, the relationships you build. It’s that we’re in this together...” – Ed Mylett [08:09]

• Letting Go:
  Ed points out the wisdom in controlling what you can and turning the rest over to a higher power.

4. Identity as a Thermostat (Not a Thermometer)

[10:03–13:57]

• The Thermostat Analogy:
  Your “identity” sets the internal temperature for your life – it’s self-regulating, regardless of outside conditions.

  • “Your identity is the driving concept to your life. It’s the beliefs... you believe you’re worth. This identity is a thermostat setting on your life.” – Ed Mylett [10:11]
  • “If you don’t change internally who you are, you can have all those skills and... you will… cool it back down to what you believe you’re worth.” – Ed Mylett [11:06]

• Contrast With Being a Thermometer:
  Most people let their circumstances dictate their performance and self-worth, as opposed to regulating it from within.

• Effect of Associations:
  Community and who you spend time with directly influence your “thermostat” setting.

5. The Trilogy of Identity: Faith, Intention, Association

[13:57–16:11]

• Faith:
  Belief in a higher power and a sense of self-worth derived from that.
• Intention:
  Confidence stemming from pure motives, not just from ability or results.
  • “Link your confidence to your intentions, because you know that’s true about you.” – Wayne Dyer to Ed Mylett [15:05]
• Association:
  Who you spend time with raises or lowers your standards and self-identity.

6. Ordinary People, Extraordinary Results

[16:11–19:48]

• Debunking the Myth of “Specialness”:
  Both Brian and Ed reflect on meeting successful, wealthy people and realizing they’re regular people who honed their craft.

  • “I wish everyone could meet mega successful people because then they’d realize, oh, I could probably do this too.” – Ed Mylett [17:23]

• The Role of Humility and Confidence:
  Ed admires humble, confident people—Magic Johnson cited as an example of this rare blend.

7. Ed’s Perspective on His Own Success

[20:00–22:38]

• Relatability and Authenticity:
  Ed credits his rise to a lack of “guru” pretense, focusing on real life lessons, confidence, and humility.
  • “I think... people want someone with some confidence but also some humility... My favorite people have a lot of self-confidence, but there’s a sense of humility.” – Ed Mylett [21:53]

8. The Book: “The Power of One More”

[24:00–26:25]

• A Comprehensive, Action-Oriented Book:
  Ed describes it as “about 10 books in one”—covering identity, leadership, peace, business, and ending with stories about his father.

  • “I kind of thought I wrote a book or hope I wrote a book that’s like, Think and Do Rich.” – Ed Mylett [24:59]

• Action Over Theory:
  The book emphasizes actionable principles, and Brian notes that the concepts are immediately actionable and thought-provoking.

9. Real Estate Market Outlook & Entrepreneurial Energy

[26:26–30:02]

• Market Insights:
  Discussion around pent-up demand in real estate, economic optimism, and the importance of perseverance through market cycles.

• Advice to Listeners:
  “If people just persevere… if they can get a little juice... that ‘one more’ is the third quarter in real estate because it’s coming.” – Brian Buffini [26:48]

Notable Quotes & Memorable Moments

• The Power of Stacking Up “One More”
  “My dad ended up stacking up those one mores... 35 years of sobriety, never drank again, any day of his life. But he did it one day at a time, and he did it by having one more try.”
  – Ed Mylett [02:38]

• On the Thermostat of Identity:
  “This identity is a thermostat setting on your life... The work has to be done internally...”
  – Ed Mylett [11:04]

• On Community & Coaching:
  “You got to take the self out of self-employed, and... self-help, which is why we need books, why we need to go to events, why coaching works, and why also building yourself a community...”
  – Brian Buffini [09:31]

• On Association:
  “If you’re an 18 handicapper... and you’re playing with threes and fours every day, they are going to get you down to a 14 or a 15...”
  – Ed Mylett [15:39]

• On Authenticity Over Flash:
  “I’m a confident person, but I don’t need to show you my Lambo to prove it.”
  – Ed Mylett [20:40]

• On Family and What Truly Matters:
  “At the end of your life, it’s not going to be bring me my stuff. It’s going to be bring me my family... People matter. Things don’t.”
  – Ed Mylett [33:03]

Important Timestamps

| Timestamp | Segment | |-----------|------------------------------------------------| | 02:00 | Ed shares the “one more” origin story | | 04:06 | Perseverance in entrepreneurship | | 06:39 | The story: one transaction changes everything | | 07:08 | Insights from AA: hope, community, surrender | | 10:03 | The identity thermostat explained | | 13:57 | The Trilogy of Identity: faith, intention, association | | 17:23 | Meeting millionaires and lessons in “ordinary” | | 20:26 | Why is Ed’s approach resonating right now? | | 24:00 | “The Power of One More” book highlights | | 26:26 | Real estate market optimism for third quarter | | 30:22 | Rapid-fire Q&A: best advice, books, values | | 32:39 | Ed’s favorite movie: “Field of Dreams” | | 32:57 | What a “good life” means to Ed |

Rapid-Fire Q&A Highlights

[30:22–34:44]

• Best advice received: “Trust in the Lord and everything will follow.” – Ed’s father [30:22]
• Talent wished for: Patience [30:41]
• Most influential book: The Bible [31:07]
• Biblical character: Jesus, and the Parable of the Sower (applies to perseverance in life/business) [31:18]
• Favorite movie: Field of Dreams [32:39]
• Definition of a good life:
  “At the end of your life, it’s not going to be bring me my stuff. It’s going to be bring me my family... The richness of life to me is those relationships.” [33:03]

Final Reflection

Ed Mylett’s message is clear and resonant: transformation doesn’t happen in massive leaps, but in “one more” attempt, decision, or connection, over and over. Anchoring in faith, intention, and the quality of your associations, and understanding how your self-identity sets your limits or expands them, are the keys to lasting growth—both personally and as an entrepreneur.

For more: Ed’s book “The Power of One More” and details about upcoming events can be found at buffini.com/live2025.