Latest / The Action Catalyst / REMASTERED: Breaking Out of a Broken System, with Seth and Chandler Bolt (Music, Philanthropy, Finance, Author)

Transcript

REMASTERED: Breaking Out of a Broken System, with Seth and Chandler Bolt (Music, Philanthropy, Finance, Author) · The Action Catalyst

• 1:40
  Chandler Bolt: Yeah. And basically, the book, what we did
• 1:43
  is we took the things that our parents taught us, he took these
• 1:46
  15 lessons that they taught us, and in a second, I both separate
• 1:50
  accounts. So settlor, his account, as a musician, I wrote
• 1:53
  mine at the business guy basically just showed these 13
• 1:56
  things that they taught us or things that we thought were
• 1:59
  normal, but most people don't end up learning them, you know,
• 2:02
  their parents don't teach them this growing up. And we just
• 2:05
  basically showed how you can apply this in music, and you can
• 2:09
  apply it in business. And it just relates to both things.
• 2:12
  Seth Bolt: One of the things that we're gonna be excites us
• 2:15
  the most is the opportunity that we have to inspire other people,
• 2:18
  you know, our age, or that are trying to decide maybe what they
• 2:22
  want to do with their life or what they want to do if they
• 2:25
  want to change careers. Because there's really an amazing
• 2:28
  potential to sort of repurpose business, not just for profit,
• 2:32
  but to actually make a difference in the world. And one
• 2:35
  of the ways that we're trying to do that is we've partnered with
• 2:38
  an organization called PMI, and I'm at a medical initiative,
• 2:42
  they provide medical assistance to the developing world, we
• 2:45
  decided, let's come on our entrepreneurship, let's write
• 2:48
  this book, because that was kind of burning, there was a lot of
• 2:52
  things there. And at the same time, let's make sure that we
• 2:55
  kind of spread this idea that, you know, even though all of us
• 2:58
  are just selling, you know, maybe one thing or one service,
• 3:02
  but you can build into that something that can have make a
• 3:05
  big difference in the world.
• 3:06
  Host: That's awesome. And then, you know, simultaneously, the
• 3:10
  book for the reader, it's like, the principles that are in here
• 3:14
  can save a person's life. And so Seth, Can you fill us in on what
• 3:19
  the $624 billion secret is?
• 3:21
  Seth Bolt: That number reference was for Apple. And I use Apple,
• 3:24
  because it's a, it's an example that a lot of people understand.
• 3:28
  And, obviously, a lot of people are studying their business
• 3:31
  model now. But simplicity is the key. One thing that that really
• 3:35
  has been resonating with me lately is that, you know, I'm a
• 3:38
  hard working person, and a lot of us are and we want to stay
• 3:42
  busy, because we want to be productive. But sometimes, in
• 3:45
  that busyness, we create extra steps to our processes and our
• 3:49
  systems and our daily life, to complicate things and call this
• 3:53
  more work. And you know, for a lot of people, that means they
• 3:56
  end up working all day. You know, for a lot of entrepreneurs
• 4:00
  that have total time freedom, they work way more than anybody
• 4:04
  else, and they don't stop, like really enjoy life, think about,
• 4:07
  you know, how they can give back or you know, maybe serve in
• 4:11
  their community, because they're so married to their job. So that
• 4:15
  was all about simplicity, and sort of cutting back so that you
• 4:19
  don't miss out on it all.
• 4:20
  Host: So $624 billion, is Apple and that's kind of their core
• 4:24
  mantra is just simplicity, simplicity, simplicity, make it
• 4:27
  simple and easy.
• 4:28
  Seth Bolt: Yeah, make it simple for you know, internally as
• 4:31
  you're creating your product and then actually strive to make the
• 4:35
  experience for whoever you're selling it to better make it
• 4:39
  easier. I mean, one of the ways that we tried to, you know,
• 4:42
  really put our money where our mouth is was and the book we
• 4:45
  reference, you know, we reference other artists and
• 4:48
  other music. I mean musics obviously a big part of my life.
• 4:51
  And I put lots of links to you know, the song I was listening
• 4:54
  to, and I started to write each chapter just in case people
• 4:57
  wanted to sort of listen along and experience it that way. So
• 5:00
  for the ebook, you know, that's a link, you can just click on
• 5:02
  it, it's easy. You know, if I reference the book there and
• 5:05
  like, this book changed my life, check it out. You can do it
• 5:09
  right away. It's not like a homework assignment. It's just
• 5:12
  to make sure your product, you know, actually served your
• 5:15
  customer in the best way that possibly can, that makes their
• 5:18
  lives simple.
• 5:19
  Host: Absolutely. And so and then Chandler, you have this
• 5:22
  phrase that you write about called forced opportunities.
• 5:26
  Chandler Bolt: Yeah. So when I'm what I'm talking about there
• 5:28
  with a forced opportunities is I love putting myself in positions
• 5:32
  that are going to force me to really think outside of the box,
• 5:36
  or they're gonna force me to do stuff that I wouldn't normally
• 5:39
  do. So the example there when I ran $100,000 business was, I
• 5:43
  kind of put myself out there and decided to take this
• 5:45
  opportunity. And then we had the training where they treat this,
• 5:49
  like the initial training with the company, basically, what I
• 5:51
  did is, I went up to the CEO, the guy who was doing the
• 5:55
  presentation or said, Hey, I have a big goal, I want to know
• 5:58
  how to run the number one business in the country, I want
• 6:01
  to be over $100,000. And I just kind of made a challenge and a
• 6:05
  bet with them. They're like, I want to accomplish one of those
• 6:08
  things when I did that. And it's funny, like when you start
• 6:11
  vocalizing those things, and telling, I made it a point to
• 6:14
  tell as many people as I could, because then I knew it was gonna
• 6:17
  force me to deliver on that, when you're telling it to
• 6:20
  everyone, you see it, your mind start telling you like, Okay, I
• 6:24
  actually have to make this happen, you know, you got to put
• 6:26
  yourself out there to a point where you're gonna figure out
• 6:29
  ways to make it work. And when you have a specific deadline, or
• 6:33
  when you have a specific number, or a challenge that you want to
• 6:36
  hit, that's when it really becomes real. And it's either a
• 6:39
  success or a failure. But either way, you're moving forward,
• 6:42
  because you're forcing yourself to be put in that situation. And
• 6:45
  it's the forced opportunity that you give yourself.
• 6:49
  Host: So sort of back to you one of the things that you said is
• 6:52
  you said your your friends are like a food pyramid. And the
• 6:55
  reason why all your friends can't be pop tarts...
• 6:59
  Seth Bolt: Yeah, I grew up some some of your listeners may be
• 7:03
  able to relate with this guy. I grew up in a in the south, and
• 7:06
  then a very conservative home. So my mom was always super picky
• 7:10
  about my friends and who I hung out with. I actually heard this
• 7:14
  tagline from from my friends, but you show me your friends,
• 7:17
  and I'll show you your future. And I thought it was cool that
• 7:21
  my parents made it enough of a priority, that I put good people
• 7:25
  in my life to influence me that I actually heard that from one
• 7:28
  of those people that were influencing me, you know, you
• 7:32
  show me your friends, I'll save your future was sort of a good
• 7:34
  example of how even though I love to have fun, I love the
• 7:39
  laugh. I love the cup, I've got sort of five poor friends. And
• 7:43
  one of those is that for me, because I need that. But it's
• 7:48
  really important that, that I don't have five friends that are
• 7:51
  that way. I mean, it's balance, you need that in your life. But
• 7:55
  you know, I have my friend that I call for when I need financial
• 7:57
  advice, or when I need spiritual advice, or when I need you know,
• 8:01
  advice about maybe being a better friend, even to those
• 8:05
  five friends, you know, the people that strengthen me in
• 8:08
  different ways. I think that balance is key. So that's what
• 8:10
  that's about.
• 8:11
  Host: So Chandler, there's this whole this phrase that you talk
• 8:14
  about, or this concept of the boomerang effect of giving. And
• 8:18
  giving is such a tremendously powerful part of being
• 8:21
  successful and walk us through why you use the metaphor of a
• 8:24
  boomerang.
• 8:25
  Chandler Bolt: Yeah. Um, so growing up was the one thing
• 8:29
  that people that grew up around us would always tell us is I
• 8:32
  can't believe how your, your parents, they give all the time.
• 8:36
  And it's like my mom's like the most giving person you'll ever
• 8:38
  meet. It's like they make money just to give it away. We give
• 8:42
  because we want to help others. And even when we feel like we
• 8:46
  have nothing to give, or we really have to dig deep to give,
• 8:49
  we always do it. Because we know it's gonna bless their life and
• 8:53
  we know that at some point, the gods are gonna bless us and
• 8:55
  bring it back to us. That's the whole analogy with a boomerang
• 8:59
  is if you're giving just so that it comes back that's rooted in
• 9:02
  just a horrible place. That's just not the way to do it. But
• 9:06
  if you give from the bottom of your heart and be genuine, it
• 9:10
  will come back to you like a boomerang. You just keep
• 9:13
  throwing that boomerang out there and just keep giving from
• 9:16
  a genuine place even when maybe you can't afford to but you
• 9:19
  sacrifice yourself to give to others they've just amazing
• 9:23
  always comes back to you tenfold.
• 9:25
  Host: Well guys I love it. The book is called breaking out of a
• 9:28
  broken system you got to take a look at it that pull from need
• 9:32
  to breathe his younger brother Chandler bolt, a budding
• 9:34
  entrepreneur. Really cool stuff. Thanks for being on the show.
• 9:38
  And good luck to you guys.
• 9:40
  Bolt Brothers: Yeah, appreciate it man. Thanks so much.