Episode Summary: "Burn The Boats - Greatness Has No Plan B With Matt Higgins"

Right About Now with Ryan Alford hosted by Ryan Alford features an enlightening conversation with Matt Higgins, the CEO and co-founder of RSC Ventures. This episode delves deep into Matt's philosophy on commitment, his entrepreneurial journey, insights from his experience on Shark Tank, and his current groundbreaking work in drone technology. Below is a comprehensive summary capturing all the key discussions, insights, and conclusions from the episode.

Introduction to Matt Higgins

Ryan Alford welcomes Matt Higgins, affectionately dubbing him the "CEO of what's next." Matt introduces himself with a light-hearted remark, highlighting his extensive involvement in various ventures spanning from cryptocurrencies to real estate.

Matt Higgins [02:35]: "I see something, I believe in something, and then I figure out how to overcome my anxiety and just go all in."

The Philosophy of "Burn the Boats"

The core theme of the episode revolves around Matt's principle of "burning the boats," a metaphor for committing fully to a vision by eliminating backup plans. This concept stems from his challenging upbringing, where he had to make radical decisions to escape poverty and take control of his destiny.

Matt Higgins [02:35]: "The single greatest decision I ever made in my life was to drop out at 16, start college, and pull forward my entire career."

Matt emphasizes that having a backup plan often undermines one's commitment and drive. By eliminating Plan B, individuals can harness an unparalleled level of effort and determination toward achieving their goals.

Matt Higgins [04:10]: "The mere presence of a backup plan is exactly the thing forcing you to need one. And that there's tons of science and psychology around what happens when you fully commit to your plan."

Overcoming Personal Challenges and Imposter Syndrome

Matt candidly shares his struggles with anxiety and imposter syndrome, contrasting his self-perception with naturally confident figures like Kevin O'Leary. His journey of pushing through these internal barriers underscores the importance of self-belief and relentless pursuit of one's vision.

Matt Higgins [09:57]: "I wasn't born this way. Kevin O'Leary was born this way. He's totally self-possessed, but I'm not."

Insights from Shark Tank

Discussing his stint on Shark Tank, Matt highlights the authenticity of the show, where negotiations are intense, and the environment is brutally honest. He recounts his interaction with Damon John, who provided him with invaluable advice about belonging and self-worth.

Matt Higgins [11:53]: "He told me the one greatest piece of advice I love sharing to this audience: Because you belong here, because you are here."

Matt also reflects on the demanding nature of being a Shark, emphasizing the commitment required to manage multiple investments and the psychological aspects of evaluating potential deals.

Common Attributes of Successful Sharks

When asked about the shared traits among the Sharks on Shark Tank, Matt identifies three key qualities:

1. Optimism: A fundamental belief that anything is possible and that anyone can achieve success.

   Matt Higgins [16:06]: "Each one of those people is fundamentally optimistic that anything is possible and that anyone can do anything."

2. Fearlessness: The ability to remain calm and composed under pressure, especially when deals don't go as planned.

   Matt Higgins [16:06]: "When shit's not going right, they don't panic."

3. Grind and Tactical Precision: A relentless work ethic and attention to detail, ensuring success through meticulous execution.

   Matt Higgins [16:06]: "The most successful people I know are shockingly tactical."

The Power of Optimism and Compounding

Matt delves into the significance of optimism in achieving success, correlating it with the concept of compounding in both finance and personal growth. He underscores that true believers focus on long-term gains rather than immediate rewards.

Matt Higgins [19:09]: "Opportunity arrives before the tipping point of evidence. If you burn the boats when everybody knows about it, it's like, well, it's too late."

Current Ventures: Performance Drone Works

Highlighting his latest project, Matt discusses Performance Drone Works, a company he co-founded to advance drone technology for defense purposes. Drawing from his experience as the press secretary to Mayor Giuliani during the 9/11 attacks, Matt emphasizes the necessity of developing drone ecosystems to prevent future terrorist threats.

Matt Higgins [24:25]: "Building this company is the most important thing I ever worked on for the homeland."

He recounts the arduous journey of securing a government contract amidst stiff competition, underscoring the value of singular focus and perseverance.

Matt Higgins [31:29]: "The future of warfare is going to center around small drones. And here's how you make an amazing small drone."

Advice to Self and Lessons Learned

Reflecting on his life, Matt offers profound advice he would give his younger self:

1. "Nobody Cares": Emphasizing that external validation is less important than internal conviction.

   Matt Higgins [35:06]: "Nobody cares. Winners don't care because they're so focused on what they're doing."

2. Leverage Compounding: Recognizing the unparalleled power of time and compound growth in building wealth and achieving success.

   Matt Higgins [38:15]: "Compounding is everything. Dollar cost average, baby."

He shares a personal anecdote about his early investment in Bitcoin, illustrating the long-term benefits of patience and regular investment over attempting to time the market.

Matt Higgins [40:00]: "Dollar cost averaging takes the idea of compounding with the idea that you put your investment in at regular intervals so that you don't have to worry about timing the market."

Conclusion and Final Thoughts

As the episode wraps up, Matt encourages listeners to embrace the "burn the boats" strategy by committing fully to their visions and eliminating backup plans. He advocates for continuous self-improvement, resilience, and the relentless pursuit of one's goals.

Matt Higgins [28:04]: "Burning the boats is so important, because the time to burn the boats is when the opportunity arrives before the tipping point of evidence."

Matt also invites listeners to engage with his work, promoting his book "Burn the Boats" and his presence on social media platforms.

Matt Higgins [40:41]: "My book is on Amazon. If you read it, you like it, DM me. I burned the boats."

Ryan concludes by expressing appreciation for Matt's candidness and the depth of the conversation, highlighting the blend of practical advice and inspirational storytelling that defines the episode.

Notable Quotes with Timestamps:

• Matt Higgins [02:35]: "The single greatest decision I ever made in my life was to drop out at 16, start college, and pull forward my entire career."

• Matt Higgins [04:10]: "The mere presence of a backup plan is exactly the thing forcing you to need one."

• Matt Higgins [09:57]: "I wasn't born this way. Kevin O'Leary was born this way. He's totally self-possessed, but I'm not."

• Matt Higgins [11:53]: "Because you belong here, because you are here."

• Matt Higgins [16:06]: "Each one of those people is fundamentally optimistic that anything is possible and that anyone can do anything."

• Matt Higgins [19:09]: "Opportunity arrives before the tipping point of evidence."

• Matt Higgins [24:25]: "Building this company is the most important thing I ever worked on for the homeland."

• Matt Higgins [35:06]: "Nobody cares. Winners don't care because they're so focused on what they're doing."

• Matt Higgins [38:15]: "Compounding is everything. Dollar cost average, baby."

• Matt Higgins [40:41]: "My book is on Amazon. If you read it, you like it, DM me. I burned the boats."

This episode of Right About Now offers a wealth of insights into the mindset required for entrepreneurial success, the importance of unwavering commitment, and the profound impact of optimistic thinking. Matt Higgins' journey serves as both an inspiration and a practical guide for aspiring business leaders and innovators.