Ryan Reynolds (0:00)

Ryan Reynolds here from Mint Mobile. I don't know if you knew this, but anyone can get the same Premium Wireless for $15 a month plan that I've been enjoying. It's not just for celebrities. So do like I did and have one of your assistant's assistants switch you to Mint Mobile today. I'm told it's super easy to do@mintmobile.com.

Omar Zenhom (0:17)

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. See full terms@mintmobile.com got a 7am meeting.

Unknown (0:33)

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.

Omar Zenhom (0:51)

Yay.

Unknown (0:53)

Free your team from expense reports today. Switch your business to ramp.com foreign hey.

Omar Zenhom (1:09)

Welcome to the $100 NBA show. I'm your host Omar Zenholm and welcome to another Q and A Wednesday episode where we answer a question from one of you, one of our listeners, one of our viewers, one of our community members. If you have a question you want to ask, just head on over to 100-mba.netq and you can submit your question right there. Today's question is from Angela. And Angela, is now a bad time to start a business? This is a question on many people's minds, especially with the uncertainties in the world today, with the economy, with inflation, with everything going on. But did you know that some of the world's most successful companies were started during an economic downturn? Companies like Microsoft, General Electric, and Airbnb. They all began during tough times. And today I'm gonna help you understand why there's no right time or wrong time to start a business. The truth that I learned over the last 20 years in this game called entrepreneurship or business is that the world doesn't really change all that much. I learned this from Jim Rohn, that the world basically repeats itself over and over. If you look at the last 50 years, the economic downturns that happen, they happen every 10 to eight years. It just repeats itself over and over, right? Yeah, there's fluctuations in the economy, yes. There's new technologies, yes. There's shifts in consumer behavior, but these are actually consistent. These changes are consistent. It happens over and over and over. What really changes and what really makes the difference between success and failure is you. Your mindset, your skills, your ability to adapt are what determine your success. Today I'm going to Break down the four things, in my opinion, that really dictate your success in business. Not the economy, not what's going on politically in the world. But these are the four things that will actually serve you for not just now, but for years and decades to come. Let's break them down. The first one is your mind. I know this sounds cliche and your mindset's so important, but really, your mind is really what changes everything, right? The way you think, the things you believe are what dictate your actions. Think about it. If you love pizza, and that's in your mind, then when you have a chance, you will buy pizza, right? You will order and eat pizza. If you don't like pizza, then you're not gonna buy pizza. It all happens up here, okay? So whatever happens here will happen in the real world, okay? And when it comes to your mind, what I've learned is the only way to make sure that you grow with the changing world, that you actually change yourself to become more valuable, is you adapt a growth mindset. I want to pause there for a second. I just said you grow to become more valuable. This is the bottom line about today's episode. The bottom line is if you want to be a valuable entrepreneur, you want to have a valuable business, you have to be valuable. You have to become better. And this is something I realized 10 years ago when I was starting this podcast. I wasn't so happy the way I was performing on the mic. I wasn't happy with the content I was coming up with. And I could have blamed everything in the world, but the truth is, is that I had to get better. And when I got better, then things changed, then the podcast grew, then we were able to get more listeners and get more subscribers, and it really made an impact on the world. And it all starts with you. Starts with yourself. So you got to believe that you can grow. You got to believe that you can adapt this mindset. It's like, hey, if I get better, if I continue to grow, if I increase the value in what I can produce, then I can actually become more valuable to the world. That's just how the world works. The world values people that are valuable in any way, whether it's in entertainment or sport or science or engineering or whatever it is. The better you are, the more valuable you are to that marketplace, the more you're worth. And that's just how it is. I know that there's a lot of ways to be worthy in society, but when it comes to the marketplace, when it comes to sales and Marketing and business and the world we are talking about today, you have to become more valuable. Again, these are some concepts that I've learned along the way from many people, people like Tony Robbins, people like Jim Rohn. I learned this also from Jim Collins, who's author of the book called Good to Great. And this is something that is so essential. You have to have the mindset that I to continue to grow and get better if I want to have a great business. When we faced any challenge we had in any of our businesses, whether it was our software company, Webinar Ninja, whether it's this business, the 100 RMBA, the first question I asked as a leader of the business is who do I have to become? Who do I have to become so that this challenge is easy? So this is not a problem. So I'm not stressing out, who do I have to become? How do I get better? So this is just a blip on my radar. Don't care. This is going to be easy to solve. So growth mindset is the number one something. Continue to invest in yourself. We're going to talk about how and what actions you're going to take, but just change your mind to understand that if you don't get better, nothing's going to change. Now this is also challenging because you're changing yourself. This is something people don't understand about growth mindset. People think that, oh, it's just about becoming smarter or wiser or picking up more skills. No, it's actually changing who you are. I realized when I was growing my businesses that the business I want to become, you know, I'm here, I want to go here. If I want to go here, I can't be the same person. I have to change. I have to become something else in order to reach this milestone. The person that can pull this off is not the person that's here, because if it was the same person, I would be here already, right? So you have to understand that I have to change who I am, change my habits, change who I spend my time with, how I think, how I adapt, how I manage stress, how I deal with problems, how I speak, how I do business, how how I market myself. Everything's got to change. The person I am 10 years ago is totally different than who I am today. And that's a good thing because that means I grow, means I actually transform myself into something different, something better. And you need to understand that's going to be uncomfortable because one, it's hard to change yourself and just accept the fact that you're not the way you should be, and you should get better. Number two, the people around you are going to notice you're not the same anymore, and that makes them uncomfortable. But you got to accept that. You got to accept the fact that some people are going to come along with you on the ride journey as a successful person, and some people won't. And that's okay. So number one is mindset number two, your skills we talked about, you got to get better. What does that actually mean? It means you taking action. So number two is taking action and improving your skills. And that means simple actions every day. Some people think, all right, I'm going to dedicate myself. I'm going to go get myself a master's. I'm going to go do the sabbatical and take five months and study in this university or this institute. That's fine and all, but actually, what helps is consistent action is small things. Every day, like reading 30 minutes in the morning and 30 minutes before you go to bed, it seems so simple, it seems so easy. But whatever's easy to do is also easy not to do. It's easy to skip. Okay? So even if you just pick up a book and you read 30 minutes in the morning, 30 minutes at night, that's an hour of reading every day. Within two weeks, you've finished the book. Okay? That means every two weeks you're reading a new book. That means every month you've just finished two books. That means every year you've read 24 books. Pretty great, right? Think of how much better you'd be if you had consumed that much knowledge and that much information to improve your skills. Small things. Small things, but done over time, over and over. Great habits. Okay? Invest in yourself, in a course or in a training. Again, this is not a humongous commitment. It's like an hour or two a week. But it's done over time. And over time you grow because there's consistency. If you want to become better as fast as possible, then I highly recommend you hang out with people that are better than you. Very simple. Hang out with people that are smarter than you, that are more accomplished than you, have done better things. When you hang out with those types of people, whether it's at meetups or conferences or events or vacations or weekends or whatever it might be, okay? You can't help but get better. You can't just continue to do the same things anymore. When everybody around you is smarter and reading better books and are taking courses and investing in themselves and they're hiring Coaches in different parts of their life, whether it's health or wealth or in their own business or whatever it might be, you're going to just think it's normal. I have to do this now because everybody else around me is doing it. That peer pressure is good in this situation. One of my favorite hacks is actually to go on a holiday, go on a vacation with somebody who is a few levels higher than you. You'll start to learn what your future might look like. What are the things that they work on? What are some things that they do to make get better every day? What's your routine in the morning? What are the things that they worry about? Right. These are going to be your new worries very soon if you continue to get better. Hang around with people that are better than you, people that are a few steps ahead of you in the quest you're going after.