Latest / Reborn w/ Antonio Boutros / The Hard Truths Behind Entrepreneurial Success 📈

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The Hard Truths Behind Entrepreneurial Success 📈 · Reborn w/ Antonio Boutros

• 0:01
  SPEAKER_00: Welcome to the Reborn Podcast with Tony Boutres, where we explore the intersection of personal development, spirituality, and entrepreneurship.
• 0:10
  SPEAKER_00: In today's episode, we peel back the layers of entrepreneurial success to uncover the often unspoken challenges that come with it.
• 0:17
  SPEAKER_00: I'm your host, Tony Boutras, and today we're going to delve into a story that's not often told in the glamorous narratives of business success.
• 0:28
  SPEAKER_00: Recently, I had the privilege of sharing a dinner with two remarkable entrepreneurial friends, Justin and Monty.
• 0:35
  SPEAKER_00: Despite their incredible financial successes, Monty's business generating over eight figures in revenue, and Justin, multiple seven figures, both shared insights into the not so enjoyable aspects of their journeys.
• 0:55
  SPEAKER_00: Monty, a powerhouse in the business world, confided that he doesn't actually like his business.
• 1:02
  SPEAKER_00: It's a startling revelation considering the scale of his business and his success.
• 1:10
  SPEAKER_00: What does it mean to continue something that no longer brings you joy simply because it succeeds financially?
• 1:17
  SPEAKER_00: We'll unpack Monty's situation and explore the emotional and spiritual toll this dichotomy can take.
• 1:26
  SPEAKER_00: On the other hand, Justin, faced with a different kind of challenge, had to make the tough decision to lay off several big clients.
• 1:36
  SPEAKER_00: While this might sound like a step back, in a complex world of entrepreneurship, such decisions can be crucial for long-term sustainability.
• 1:47
  SPEAKER_00: Will dive into a strategic thinking between behind such decisions and the resilience required to execute them.
• 1:59
  SPEAKER_00: What does it mean to be successful?
• 2:02
  SPEAKER_00: Is financial prosperity enough or does the fulfillment derived from our work play a crucial role in our overall happiness and spiritual well-being?
• 2:11
  SPEAKER_00: We'll explore how aligning our business practices with our personal and spiritual values can impact our sense of success and satisfaction.
• 2:21
  SPEAKER_00: For entrepreneurs who might find themselves in a similar situation, here are a few practical tips.
• 2:26
  SPEAKER_00: Number one, reevaluating priorities.
• 2:30
  SPEAKER_00: Learning how to balance profit with personal satisfaction.
• 2:35
  SPEAKER_00: And now I think as an entrepreneur, we do also have to recognize: hey, I love business, I love entrepreneurship, I love the freedom it brings.
• 2:45
  SPEAKER_00: I also have to make sacrifices.
• 2:47
  SPEAKER_00: I'm not gonna like everything all the time in my business or in my life.
• 2:52
  SPEAKER_00: I am gonna have to make sacrifices.
• 2:54
  SPEAKER_00: I might not be able to go out with my friends, I might have to cancel a date.
• 2:59
  SPEAKER_00: I might not be able to spend as much time with uh with family.
• 3:03
  SPEAKER_00: You know, I let is it worth it?
• 3:07
  SPEAKER_00: That's what you have to decide.
• 3:08
  SPEAKER_00: Okay.
• 3:09
  SPEAKER_00: Number two is making tough decisions.
• 3:12
  SPEAKER_00: Strategies for making difficult business decisions while keeping your mental health in check.
• 3:18
  SPEAKER_00: Everyone knows I'm a big advocate of mental health.
• 3:22
  SPEAKER_00: I don't believe that without peak mental health, anything else can be at its peak.
• 3:26
  SPEAKER_00: You your your work can't be at its peak, your physical fitness, right?
• 3:32
  SPEAKER_00: Like mental health is where everything starts.
• 3:38
  SPEAKER_00: And then number three, finding joy in your work.
• 3:41
  SPEAKER_00: We're gonna go over tips for rediscovering passion in your business or knowing when to pivot.
• 3:47
  SPEAKER_00: Okay.
• 3:49
  SPEAKER_00: So if we're reevaluating priorities, I personally love business, and I genuinely enjoy the business I'm in.
• 3:59
  SPEAKER_00: Okay.
• 4:00
  SPEAKER_00: There are a lot of things that I don't particularly enjoy, but again, that's sacrifice.
• 4:06
  SPEAKER_00: Okay.
• 4:08
  SPEAKER_00: And I also am a man of God.
• 4:10
  SPEAKER_00: I love spending time worshiping.
• 4:12
  SPEAKER_00: I just got a new dog.
• 4:13
  SPEAKER_00: I love spending time with my dog.
• 4:15
  SPEAKER_00: You know, I'm I'm personally fine working most of the day, you know, praising God, working out, and that being my full day.
• 4:25
  SPEAKER_00: I'm fine with that.
• 4:27
  SPEAKER_00: But if you prefer, hey, I need an hour with my friends every day, okay.
• 4:33
  SPEAKER_00: If that's what you wanted and you're willing to sacrifice, uh, you know, there's sacrifices for everything.
• 4:38
  SPEAKER_00: Okay, it's not just business that you have to make sacrifices for.
• 4:42
  SPEAKER_00: If I want to spend time with fans, friends, that means I'm taking time away from my business.
• 4:46
  SPEAKER_00: Am I okay with that sacrifice?
• 4:47
  SPEAKER_00: Yes or no?
• 4:48
  SPEAKER_00: Okay.
• 4:50
  SPEAKER_00: Um, some people, maybe you're in love with some Netflix show.
• 4:55
  SPEAKER_00: Okay.
• 4:55
  SPEAKER_00: Okay, am I willing to make that sacrifice?
• 4:58
  SPEAKER_00: And then making tough decisions.
• 5:01
  SPEAKER_00: Making tough decisions, it's funny because I was just having a conversation about this yesterday.
• 5:04
  SPEAKER_00: How do you make tough decisions?
• 5:06
  SPEAKER_00: Right?
• 5:06
  SPEAKER_00: How?
• 5:07
  SPEAKER_00: They're they're tough, right?
• 5:10
  SPEAKER_00: Um, but I think you always have to go back.
• 5:12
  SPEAKER_00: You have to you have to fall back on your core values.
• 5:17
  SPEAKER_00: So, what are those for you?
• 5:19
  SPEAKER_00: For me, with how I grew up, uh again, one of my biggest values is is is mental health.
• 5:26
  SPEAKER_00: And with that, I also recognize the value of persistence and resilience and consistency.
• 5:31
  SPEAKER_00: So those are my core values as well.
• 5:33
  SPEAKER_00: Another core value of mine is communication.
• 5:36
  SPEAKER_00: I have lots of um people in my life who, or I've I've dealt with lots of people in my life who aren't the greatest communicators, and it's a pet peeve.
• 5:45
  SPEAKER_00: So, one of the things I value, anyone who's on my team knows, I value communication.
• 5:51
  SPEAKER_00: Okay.
• 5:52
  SPEAKER_00: And and and timeliness.
• 5:54
  SPEAKER_00: On that note, so I really think when you're making tough decisions, fall back on your core values, okay?
• 6:03
  SPEAKER_00: And then finding joy in your work.
• 6:05
  SPEAKER_00: Again, a lot of times you will not enjoy it, and that is okay.
• 6:13
  SPEAKER_00: But I do think that some people work themselves too hard.
• 6:16
  SPEAKER_00: And what I mean by this isn't, hey, you're working too hard.
• 6:19
  SPEAKER_00: I think you're working on the wrong stuff.
• 6:22
  SPEAKER_00: For example, many of you have probably heard of the 80-20 rule.
• 6:26
  SPEAKER_00: If you haven't, what it says is 20% of uh what you do brings 80% of your results.
• 6:32
  SPEAKER_00: Okay.
• 6:34
  SPEAKER_00: As a business owner, I have a team and I have resources that help me do tasks that I don't want to do myself.
• 6:42
  SPEAKER_00: Okay.
• 6:43
  SPEAKER_00: And so if I didn't have that team, if I didn't have these resources, I would be everywhere at once and I would be stressed out.
• 6:55
  SPEAKER_00: But if I'm doing the number one most important thing that I can be doing at all times, then I'm gonna be a lot more fulfilled, a lot more purposeful in my work.
• 7:06
  SPEAKER_00: Okay.
• 7:08
  SPEAKER_00: And uh another question is what should I do if I no longer enjoy my successful business?
• 7:21
  SPEAKER_00: And this is really a to each your own kind of question, I'll be honest.
• 7:26
  SPEAKER_00: But depending on your situation, maybe you can sell it.
• 7:28
  SPEAKER_00: Okay, that's that's your first option.
• 7:30
  SPEAKER_00: You can sell it.
• 7:32
  SPEAKER_00: Maybe you can disintegrate it if that's something you really, really want to do.
• 7:37
  SPEAKER_00: Maybe you can find a way to run it, to manage it, where it's only requiring you a couple hours a week, you can go start the business that you really want to be, or the life that you really want to live.
• 7:48
  SPEAKER_00: Okay.
• 7:49
  SPEAKER_00: Um again, you can also you can find a partner, which kind of goes to that last one again.
• 7:57
  SPEAKER_00: You can find a partner who will run it for you.
• 7:59
  SPEAKER_00: Okay.
• 8:00
  SPEAKER_00: Um, and then how do you decide which clients to keep and which to let go?
• 8:06
  SPEAKER_00: In my personal opinion, what I would say for this is go back to your core values.
• 8:13
  SPEAKER_00: If they are not a core value fit, and they won't always be, I'll I'll clarify, not all your clients will be a core value fit entirely.
• 8:23
  SPEAKER_00: People are unique, okay?
• 8:25
  SPEAKER_00: Businesses are unique, they don't have to be a replica of your business.
• 8:30
  SPEAKER_00: But if they have if they have just a complete lack of respect, which is just in situation for your business, then are they the best business to uh to work with?
• 8:40
  SPEAKER_00: She's in a B2B business, okay?
• 8:42
  SPEAKER_00: And another thing is I, as a business owner, I can tolerate disrespect because you know we have mental toughness and whatever, right?
• 8:54
  SPEAKER_00: But I also have to think about hey, these people are disrespecting my employees.
• 8:59
  SPEAKER_00: What's that gonna make my employees feel about me?
• 9:03
  SPEAKER_00: I think my employees are gonna feel that I don't value them because we're still working with these people, even though they're big clients, I know that, but they're completely disrespectful.
• 9:14
  SPEAKER_00: So you have to think about your uh your employees as well, okay?
• 9:18
  SPEAKER_00: And then can a business still be aligned, still can still be considered successful if it doesn't align with one's personal values?
• 9:25
  SPEAKER_00: To this, truthfully, I say yes, okay, because business is measured uh from an objective standpoint.
• 9:32
  SPEAKER_00: Dollars and cents.
• 9:34
  SPEAKER_00: Okay.
• 9:35
  SPEAKER_00: So can you be unethical and have a successful business?
• 9:40
  SPEAKER_00: Unfortunately, yes, you can.
• 9:42
  SPEAKER_00: Okay, there's many people that do it.
• 9:44
  SPEAKER_00: But will you be fulfilled?
• 9:48
  SPEAKER_00: Probably not.
• 9:50
  SPEAKER_00: Okay.
• 9:52
  SPEAKER_00: Thank you for tuning into the Reborn Podcast with Tony Butros.
• 9:56
  SPEAKER_00: Remember, success isn't just about the numbers, it's also about finding meaning and joy in what we do.
• 10:04
  SPEAKER_00: If today's stories resonated with you, or if you're navigating similar challenges, I hope you found our discussions enlightening.
• 10:12
  SPEAKER_00: Don't forget to subscribe for more insights and share this episode with someone who might benefit from our conversation today.
• 10:18
  SPEAKER_00: Until next time, keep striving, keep faith, and be reborn in your endeavors.