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The $100 MBA Show
MBA2333 Why You Should Live Like Nothing Is Guaranteed + Free Ride Friday
00:11:19
Life is unpredictable and circumstances can change in the blink of an eye. It's essential not to take current success for granted, even if your business is experiencing growth.
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- [00:00]
Ryan Reynolds
Ryan Reynolds here from Mint Mobile with a message for everyone paying big wireless way too much. Please, for the love of everything good in this world, stop with Mint. You can get premium wireless for just $15 a month. Of course, if you enjoy overpaying. No judgments. But that's weird. Okay, one judgment anyway. Give it a try.
- [00:19]
Mint Mobile
@Mintmobile.Com Switch upfront payment of $45 for 3 month plan equivalent to $15 per month Required intro rate first 3 months only, then full price plan options available, taxes and fees extra.
- [00:29]
Ramp
See full terms@mintmobile.com got a 7am meeting on a Monday expensing breakfast because it's in policy, wasting all afternoon submitting an expense report for that breakfast. If your company used Ramp, you could submit expenses with just a text.
- [00:51]
Ryan Reynolds
Yay.
- [00:53]
Mint Mobile
Free your team from expense reports today. Switch your business to ramp.com hey, welcome.
- [01:13]
Omar Zenhom
To the $100 RBA Show. Helping you build and grow that business of yours with our practical business lessons. I'm your host, your coach, your teacher, Omar Zenholm. I'm also the co founder of Webinar Ninja, an independent software company I started back in 2014. And today is Free Riot Friday. On Free Riot Fridays, we give away a lifetime membership, the $100 MBA program, our six part program giving you the fundamentals so that you can become a better entrepreneur. 100% guaranteed. If you want to win a free ride, just leave us an Apple Podcast rating and review and you enter our weekly random draw. Listen in on Friday, just like today to see if you won. We announce this week's winner a little bit later in the episode. It's our way to say thanks for showing us love on Apple Podcasts. In today's lesson, you will learn why you should live like nothing is guaranteed. It took me a very long time to actually learn this lesson. It's a hard lesson to learn because as entrepreneurs, we have to balance this idea of persistence and grit and holding on and believing the future will be better than today. But we have to balance that with seizing opportunities. Knowing when you failed, knowing when to pivot, knowing when to change. And this is why I thought it was very important to do this lesson today. Why you should live like nothing is guaranteed. And the reason why is because nothing is guaranteed in life. Your current success, your health, your wellness, your state of mind, the people around you. Nothing is guaranteed. So what does it mean to live like nothing's guaranteed? Well, that's what we discuss in today's episode. So let's get into it. Let's get down to business. A lot of people, when they hear live life like nothing's guaranteed, they hear like, live your life recklessly. Live like there's no tomorrow, throw caution to the wind. But I'm here to say that that's not what it means. What it means is whatever's happening right now is not permanent and it's not guaranteed to continue and it's not guaranteed to change. Say for example, your business is doing well and you're growing month over month, 5, 10%. Nothing in life is guaranteed. You're not guaranteed that this growth will continue knowing that you make better decisions. What does that mean? Well, if you're seeing growth happening over and over, there might be some factors outside of your own skills and knowledge and know how that are affecting this growth. It could be the economy, it could be a global thing like Covid. The market might have shifted, your competitors might have changed their strategy, whatever. But the point here is that it's not guaranteed to last. So knowing that, how will you act? Will you save some acorns for later? Will you reinvest, but conservatively so you're not spending everything that you're making in profit. Also, you want to double down on this growth. So whatever you do reinvest, you put some fuel to the fire because you don't know how long this will last. So you want to capitalize on the opportunity right now. This is what I mean by nothing in life is guaranteed. Depending on how old you are and your current health situation, your well being, your health, your ability to function and serve, your business is not guaranteed. People get hit with illness and health crises all the time. Some of these illnesses will derail you for weeks, months, years, maybe permanently. A business acquaintance and a new friend of mine who runs a very successful business with his partner in life as one of the number one products in their market when you Google them. How to fight through cancer. Struggling through cancer. Finally beat it, overcame it, victorious, right? And he was healthy. But again, nothing in life is guaranteed. That health didn't last and unfortunately was hit with cancer again. This time it took his life. This is a reminder that even your own life, your time on this earth is not guaranteed. So if you're trying to save up for a certain number so you can retire, you may not get there, you may run out of time, you might get there and you might retire with that number in mind that you have in your head. But ask yourself, is it worth the risk knowing that nothing is guaranteed? Is that number that important? Or can you live life retiring a little earlier with Less money with less assets, with a lower budget lifestyle. And here's the truth. We're all living on borrowed time, right? The fact that we're even on this earth, we're lucky enough to be born and be in this time where it's so easy to start a business, so easy to grow a business relative to the past. I know it's challenging. So the fact that we wake up every morning and go out, that is just a gift in itself. It's not guaranteed that you will wake up the next day. I know this sounds macabre and sounds kind of, you know, wow, where did this podcast take a turn? But no, it's true. It's a good reminder to know that, hey, you are lucky that you're waking up every day and working at your business. So be careful about what you are considering. Must haves. I must have this much money. I must have this kind of lifestyle. I must have this house on the beach. Life's not guaranteed that you'll get there. It's not guaranteed your business will actually be able to fund that. Your business might be doing well right now, but if you're not growing tremendously every day, every month, every year, where you can actually shore yourself up from calamity, from failure. Because the thing about life and business and the marketplace is that things are changing all the time. Competitors are popping up all the time. People are trying to take your lunch money every day. And if you don't have the resources to fight back, then it might cost you your business. This is why a lot of people say you should diversify. Make sure you have a backup plan for your business once your business starts getting traction. When you have a startup, you're working hard. You're just making sure this business is working. It's making money. Okay, great. Now it's making money. Make sure you build another basket. Don't put all your eggs in one basket. Build another asset that can help you just in case something happens to the first business. By the way, when you have another basket that's making you money, when you have another business that's actually helping you out and kind of diversifying yourself, you feel a little bit more comfortable taking more bolder decisions. You're not so scared because all your wealth is not tied up into one thing. You might be saying yourself right now, hey, Omar, I hear what you're saying. That's why I'm working hard on my business, is why 24 7, I'm nose to the grindstone, making it as successful as possible. I'm Here to say that's also not the right way. Why? You got to watch out for your health. You got to exercise. You got to get some air. You got to read. You got to feed your soul. Why? Because you may think you can do this later. Oh, I'll exercise later. I'll have more time for that later. But your health might not be there. You might might not be able to do that. You got to make the time now. It's a use it or lose it type of situation. Live life like nothing's guaranteed. You have your health now. Use it. It's not guaranteed. You'll have it later.
- [07:47]
Ramp
Got a 7am meeting on a Monday. Expensing breakfast because it's in policy, wasting all afternoon submitting an expense report for that breakfast. If your company used Ramp, you could submit expenses with just a text.
- [08:09]
Mint Mobile
Free your team from expense reports today. Switch your business to ramp.com.
- [08:20]
Omar Zenhom
When you start thinking like this, all right, nothing in life is guaranteed. Then you start living in the present. You start realizing, okay, what's happening now is important, is significant. I should pay attention to it. I should maybe take advantage of all the opportunities I have now instead of me just delaying. If you have an opportunity to grow your business or to invest in another business that has potential, maybe you should consider it. It's not guaranteed that opportunity will be there tomorrow. Things change all the time. Okay? When I started my software company, Webinar Ninja, there were only two or three competitors. Now there are more than I can count, 40, 50 competitors. It was easier for me to get ranked on Google. It was easier for me to reach customers because there was not a lot of comparison. I took that for Grant. I would have been a whole lot more aggressive in terms of marketing and growing the company if I knew what I know today. Nothing in life is guaranteed. Now, knowing that this makes your decision making a little bit more challenging. Do you spend more time with family than at the office? Or do you say to yourself, oh, I'm young and I got energy now. Let me spend it in growing my wealth? Do you take your product that's not perfect yet and just market it as much as possible? Spend money on marketing and growth so that you become the number one product in your marketplace, in your niche and dominate before the competitors come in? Or do you say, hey, I got some good talent on my team. Let me get them to make the product better before I start doing that. These are the challenges. This is what makes life and business so hard, is because we have choices. A lot of people think that we don't have choices. Actually, the problem is too many choices. If we had no choices, there would be no decision fatigue. There's no fork in the road. It's a chopstick, right? It's just one thing. But because you have choices, you're going to have to make choices, make decisions and be okay with them. Because we all make decisions based on what we know and what we believe is true in the moment. And that's okay. Don't be afraid to make these choices. The worst thing you could do is not make a choice, is to delay decisions, is to not actually say to yourself, yes, I'm going to do this, I'm going to go wholehearted all in on this, or no, this is not my direction. I will not do that. I'm going to say no to that. I'm not going to just let it flow. Life is way too short and as we said, things are not guaranteed. So you can't afford to be wishy washy. You got to be hardlined about your decisions, whether it's a yes or no. That way you're moving in a direction swiftly. The fact that you are in the arena, that you are building a business, that you are growing it, that you're helping yourself to this experience of being an entrepreneur, this is a gift. Not many people have taken the leap that you have and enjoy this experience because this too is not guaranteed. It can end. So even if it's challenging, it's hard, it's tough, you're struggling to make ends meet. It's okay. There'll be a time in your life where you're going to wish you can go back to these days where you're struggling and wrestling in the mud because you felt alive and you felt like you're building something significant. Nothing in life is guaranteed. This too will be in the past. It will be something that you can't go back to. So live today knowing that. Knowing that it's not guaranteed. Thanks so much for listening to the $100 NBA show. Today's episode's not over though. It's Free Ride Friday. Let's see who won this week's Free Ride. The winner is Bagwish from Philippines. Bagwish's very insightful podcast, five stars. I've always been a listener and believe me, this one is a great one. Definitely worth your time, especially those who are aspiring entrepreneurs. Thanks so much, Bagwish, for that great review. Your mission is to email me over@omar00mba.net so I can hook you up with a lifetime membership to the $100 MBA, our six part course on how to become a better entrepreneur, 100% guaranteed. Thank you so much for listening. Before I go, I want to leave you with this. As business owners, we're so busy trying to make things happen, sometimes we need to pause and just be grateful for the fact that we're making this happen. We have this experience, we're doing this, we're following our dream and our hope and building something incredible. I find that just reflecting on that and just being grateful for the opportunity to do something like this helps me become better, helps me perform better, helps me produce better work for my business. Thanks so much for listening and I'll check you in Monday's episode. I'll see you then. Take care.
- [12:54]
Jim
And we're back folks. It looks like Jim from sales just got in from his client lunch and he's got receipts. His next meeting is in two minutes. The team is asking, can he get through his expenses in that time? He's going for it. Is that his phone? He's snapping a pic. He's texting around. Jim is fast, but this is unheard of. That's it. He's done it. It's unbelievable.
- [13:14]
Mint Mobile
On ramp, expenses are faster than ever. Just submit them with a tight next switch your business to ramp.
- [13:22]
Omar Zenhom
Com.