039: Scott Oldford On Understanding Absolute Failure
Scott Oldford started at seven years old selling eggs from his home. By the time he was 16, Scott was running a very successful company, helping those online with their programming and internet marketing. In 2013, Scott’s third company failed while 726 thousand dollars in debt. About a year later, Scott built a company that did nearly 1 million in revenue. Today, Scott continues to fulfill his purpose, while working with entrepreneurs to show them how to stop losing out on 80% of their potential leads by using effective online marketing funnels.
Scott Oldford On Understanding Absolute Failure
Today’s story dives deep into the life of one entrepreneur who plunged the depth of success starting at the age of seven selling eggs on a farm and has made some progress along the way. Then at sixteen, he was building a team of programmers and serving others. Then at 21, deep in debt to the tune of $726,000, he turned it around in a very big way. Let’s welcome Scott Oldford to the show. Scott, welcome to the show.
Awesome to be here. I’m looking forward to hopefully share a couple of golden nuggets for those that are listening.
Scott, the thing I admire the most about you is that you’re the classic entrepreneur. I relate to you in so many ways along those lines. I think you exhibit the core qualities of someone who basically will not give up until he succeeds. That’s what entrepreneurship is all about, don’t you think?
Yeah, 100%. A definition to me at least is just determination and almost finding pleasure in the pain, that is entrepreneurship. If that’s not the situation, if you don’t get that pleasure from that pain, you should just go and get a job because entrepreneurship is not an easy career choice by any stretch of the imagination.
You think there are few emotional swings in entrepreneurship?
It’s a roller coaster. It’s just up and down, up and down, up and down all day long. You feel great at 6 AM, by 11 AM you just want to call it quits and by 3 PM you’re ready to go again, and then 7 PM comes and you can’t wait until the next day. I can’t remember who said it but it’s like eating glass on a day-to-day basis.
It’s funny because we’re friends now for a while and I’d been through some of your ups and downs with you. I could certainly say I witnessed all of that. Now, it’s so great to see you emerging at the success you deserve to be. Let’s not start here. Let’s go back a bit. You talked about being $726,000 in debt. I’d love to understand what happened to you to accumulate so much debt.
First off, it’s not actually that much debt. There’s such a thing as normalization. If you make $75,000 a year, $726,000 of debt is a lot of debt. If you’re used to having $100,000, $200,000 a month, it doesn’t take very long to get $726,000 in debt. The main thing was that I had a failure. I bet big on something. I had about fourteen employees at the time. I tried something different. I bled my company dry for twelve months when I’ve got some loans, line of credits, few other things. $726,000 of debt, not that difficult to get into. It sounds like a lot of money. It’s not a lot of money. Again, it’s normalization. It’s a lot of money for someone that’s never made that much money before but at the time, it honestly wasn’t that much money. Of course, your $726,000 of debt, you’re broke. You’re on the verge of bankruptcy. You got your creditors calling you. You have people suing you. It’s not fun. I’m not trying to glamorize $726,000 of debt but in saying that, it’s really not that difficult to get into that type of debt when you’re running a business.
Essentially what happened, $726,000 in debt, instead of going in bankruptcy, if you ever get $726,000 of debt like downward bankruptcy, that was the worst move I ever made. It was all pride. I didn’t want to go in bankruptcy because I was prideful about the fact that I was “successful” before and I lost it all. I merged with another agency, as a head of marketing agency, failed. It was a great concept. I just had too big of a team and I didn’t want to fire my entire team. I fired all of them anyways. It just took fourteen months later. Long story short, I merged with another company. I took 49%, they took 51%. We formed a new agency. That was even worse. I started going into the world of depression. All I did was smoke weed all day and drink. I literally had to distort reality because my reality would just suck so bad compared to what it was before.
That happened for a year and then one day I woke up and I was like, “I’m not doing this anymore.” 10:00 in the morning and I would be smoking weed. You know your life is not doing that great when you’re doing that. It’s not like I had chronic pain and I was using marijuana for. I just couldn’t deal with my reality and I’m only 21 or 22. Basically, it was June 2016 I said, “Screw this.” I sold everything I had, basically called up everyone I’ve known at the time. I was in a super small area. I was in Newfoundland, which is the east part of Canada, only half a million of people in my province, super small pond. I started another agency with a different twist, more lean. It’s very funny because at the end of the day, every single time you fail, you learn. What I love about failure is it gives you a definite versus a clue. Success gives you clues. Failure gives you definites. That’s why I love failures so much.
We did just under a million in 2014 running an agency. That was all good and fine. That of course you start making a bit more money and everything else and then here’s the problem with money and making money. The problem with making money is once you start making money, you actually get down to the root of the fact that majority of us, the first business that makes us money, isn’t the business that we’re called to actually do. We’re not passionate about it. Then you get to that point where it’s, “I’m making money but now I’m not fulfilled.” That’s probably worse in my opinion than not making money and having your back against the wall, because at least you got fulfillment from having your back against the wall. You’re so blinded by the fact of what’s going on that you just don’t know the difference. You’re almost blind to your own. You have a gun to your head so you don’t have to kill that fulfillment at this point.
2015, I fired everyone in my agency again. Then I moved to Toronto and I had, I think, $35,000 in my bank account. Honestly, not that much money but I had a little bit of cashflow and a little bit with the agency side so it was like, “Let’s go do this.” Then I was like, “What am I going to do? I can pretty much do whatever I want. I have some good connections and everything else.” Looking back on it, probably the stupidest idea in my life was doing that. In reality, I didn’t really have that much money. I still have a ton of debt. It’s not like I paid all my debt off. Then somebody said to me, “Scott, would you teach how to do online marketing?” which my reply was, “Hell no,” because the adage thing of those who can’t do, teach, which I believe up to that point. Maybe that’s still true but I will say I’m making a lot of money for teaching people. Whether or not that’s true or not, I haven’t really figured that out. I’ve been leveraging of that in the last couple of years. I got 22 people to pay me $1,099, which was really easy. I literally just messaged people on Facebook Messenger, ended up building a marketing funnel around it, did half a million at I think either five months or six months of 2015. 2016 was like, “There’s a lot to this.” We did just under $3 million in revenue. Then this year in 2017 with my two combined businesses, we’ll do about $10 million with just LeadCraft, which is our main eLearning program, somewhere between $7 million to $8 million. That’s been an interesting journey. This is by far the most I’ve ever built anything. It’s been a really interesting journey of failure.
One of the things I learned, I’m 26 now, that’s probably come with more age is that I’m very obsessed about failing forward. My biggest thing is I need to fail at least once a day because that’s important to me because again, failure is an absolute, success is a clue. For me now, it’s about making a series of small failures. Before, it would just be a lot of big failures. Big failures cost a lot of money. Small failures maybe cost you a little bit of time or whatever it may be. Some of the other things I just learned along the time is if I had some of the mentors I have today, I probably wouldn’t have had to go through those epic failures. I’m sitting here at 26 with this epic hero’s journey. I will say that I much would have rather having mentors and having someone to help me up the mountain versus me trying to stumble along. Here I am fifteen years later, having all kinds of different business experiences but finally actually getting something that has momentum and end up being a success. That’s been the last few years.
Here’s the thing, Scott. You don’t really learn as well unless you’re out there and making mistakes and doing things. If someone were there teaching you how to do stuff, you may have made more progress in some regard, but you never would have learned what you did. That to me is so much true.
I think there’s a healthy combination. Number one is you have to create an amazing emotional immune system in order to be an entrepreneur. If I want to run a $100 million companies, I can’t have an emotional immune system that reacts to everything that happens on a daily basis. Number two is that your talent can bring you places that your character can’t keep you. I think every single time that you fail, it’s a character building day. It’s a character building moment. Someone can give you the blueprint to be able to, “Do A to Z exactly how I tell you and I’ll help you build a $10 million business” but it won’t be able to give you the character that is required in order to allow you to keep you there. It’s easy for the stuff to go to your head. The first time entrepreneur that gets success, it’s so scary for me to watch. I have read a stat where it takes three times to be a millionaire in order to stay a millionaire. It’s so true because you get cocky almost instantaneously because you’re like, “This worked.” It’s a scary place to be. It’s a scary place to watch.
I think the number one thing that I can say about success is that once you get it, even just a little tiny taste of it, don’t change anything. The only thing you should change is your mindset. I see people the first time they become a success, they go ahead and buy a car. They go ahead and buy a house. They buy all these things to prove to themselves that they made it. Then they change how they treat people and they change all these different types of things. What ends up happening is that the character that got you where you are, the new character that you’ve created because of this so called success, will take you away from where you are. That’s what I learned. That’s much of why I failed and then go back to your concept, even if somebody even told me, I probably wouldn’t have even took their advice because I thought I knew everything.
You were in your twenties. You do know everything. Isn’t that the way it goes?
I have to tell you I relate a lot to your story but I was a late bloomer. I didn’t become a multi-millionaire until I was 40. Frankly, I probably could have called myself that because I owned a company that was worth eight figures. I never converted that into cash until later when I sold it. Here I was at the age of 44 and I had basically sold and earned out my full amount. I could have retired if I wanted to but had no desire to. I just wanted to keep building companies. What I did is I went and look for guys like you to help. I ended up investing in nineteen startups and mentoring nineteen CEOs.
How did that go?
In world, timing is everything. The problem that I had was that just as I had made most of those investments, the dot-com bust hit.
I came on the scene just after that happened. I wasn’t in the know when that happened. As soon as I hear investment in either of those years I’m like, “I know what happened.” It’s really funny because also I did something on a similar level but lower. I wasn’t investing ton of ton of money but little pots of money here and there in these different types of things like a supplement company, SaaS and all these different types of things. I think at the end of the day, if you have to invest money and mentor, you’re very limited on how much you can invest.
I understand that, absolutely true, but just keep in mind that I did it out of desire. I didn’t do it at a need. I really loved helping other people. I was even willing to pay to help other people by investing in their company. The bottom line is besides the fact that I didn’t completely lose all of what I invested, I had some winners. In the end, the timing was the problem. I could have found a better time to do it but that’s life. You’ll never know. Here’s the best part. Here’s what I learned. What I ended up doing is immersing myself at the time in nineteen different business models and being able to solve problems from just about every angle. If there was any moment in time when I really grew as a strategist, it was going to be in that time, in those years. That was some of my best years ever. I look back on those years very fondly and think, “That was a time of growth.” Even though it was a time of loss, it was a time of growth for me. I’m sure you understand that.
At the end of the day, I don’t regret a single thing I did. There’s nothing I would go back. At the end of the day, I think I made the best decisions based on where I was at the exact time. I’m pretty happy at how I turned out now 26 later over the span of time.
After all, we are a composite of our experience and nothing else. Who we are is basically the experiences we’ve had and the people we surround ourselves with. That to me is why entrepreneurs are able to do what they do because they are learning from their failures. Otherwise, they’re not going to stay entrepreneurs very long. You’ve got to move forward. I’d like to unpack a little bit of what you said. You cover a lot of stuff here. One of the things that I found when I was building my company at an earlier age was for me, management was a challenge. Do you find that to be true for yourself as well?
Yeah. At the end of the day, I just probably did the most difficult thing. The biggest change for me was hiring a COO to do that for me. After that, it was a lot easier. Honestly after that, it’s a totally different world. I’m a creator. I’m a strategy guy. I’m a big idea guy. I’m a connector. I’m those things. I’m not a manager. You put me in a management position, I’m going to just fail so hard. We’ve got a team. If you combine my main company, thirteen people. My other company, three people. The only person I talk to on a daily basis is the CMO and the COO. That’s it.
That’s a great structure. Life was different when I did my thing. I had a hundred people and I did not have a COO. I managed basically all of my C-level people and my VPs. I had my kitchen cabinet about eight people, a couple of other people thrown in for a Monday morning meetings. Overall, I was talking to about ten people on a regular basis. I enjoyed it but it really took me a lot of time to develop two things: the ability to delegate and the ability to manage and work with others in a very productive way. I had to learn that from others. I used to go around and take these programs and follow Tom Peters from stage to page, stage and sit at his feet while he ranted and learned from him. Those were again some of the best ways for me like Jay Abraham, another great teacher of mine. I just loved learning with Jay. As you may know, he and I are now partners in several things. Jay was great as a person to learn from. Who do you learn from today?
At the end of the day, I try to go outside of my industry as much as I can. There are a couple of things. Number one, I try to learn from people who failed more than people that succeeded. What I find is that people that succeeded a lot of the time don’t actually know how to translate their success into action. Whereas if you learn from people that failed, you know exactly why it failed. That’s a big one for me. Most of the people I learn from, I’ve been introduced to. You can’t even really Google them. They’re not even on Google. I always try to find people that are the behind the scenes with things that you would know of but you would never know then. I typically don’t even really name who they are. I try to go outside of my industry largely because of the fact that my industry is really small. If I go to try to learn from marketer people or internet marketer people, it’s really, really, really difficult because I’m looking to do something that really hasn’t been done that easily in the past. That’s one piece.
It’s going to sound weird and strange but I think that everybody is a mentor. I think you can look at every single interaction you have with every person you have and you’ll always find one little nugget or one little piece from them that gets embedded in this internal mentorship system. You have your brain and I think there’s a mentor inside your brain that allows you to say, “Yes, this is a good decision. No, this is not a good decision,” or, “This is where you should be going or shouldn’t be going.” A lot of people talk about it as alignment or a lot of people talk about it as a true north or whatever it maybe. I don’t look up or idolize really anyone anymore. I’m more so trying to have discussions and be in some good rooms with great and amazing people. From that, I’ve been able to pull a lot of lessons. I think that’s important. I’ve got a person that is my financial guide. I’ve got a person that’s my leadership guide. I’ve got a couple of different people that guide me along the way that have done this at a much higher level. I’m always looking at someone that’s a step or two but not too many steps before. One of my friends is a billionaire. Trying to get advice from him is impossible because it’s just not applicable to me. Somebody that’s running a company that’s $100 million to $200 million it’s like, “This is what I did when I was at that stage.” Whereas a billionaire it’s like, “They don’t even remember,” which is why it’s really important to be careful both who you’re mentoring and who is mentoring you because you need to make sure that the advice is actually applicable versus just being so broad that it doesn’t make any sense.
You said something before you said everybody is a mentor and then you said inside us, that’s where the true answers are. I agree with both of those things to a degree. The reason I say to a degree is because a mentor is someone who when they tell you something, you don’t question it and you just do it. That’s the beauty of having a true mentor. Ultimately, the answers really are inside of us. They are sometimes a little difficult to find. I know for me, I like to be quiet about twenty minutes a day. I like to meditate. Do you do anything like that as well?
I think four hours of your day should be dedicated to this. I know when I did this, my life changed and you’re like, “Four hours is a lot of time.” If you invest four hours, one hour for four things per day, your life will never be the same. The first one is knowledge. Invest one hour in knowledge a day. These four things, nobody can take from you. Nobody can take from you knowledge. No one can go in your brain and be like, “I’m going to delete some shit.” The second thing is your character. That is your reflective time. That might be meditation for you. That might be something that allows you to self-analyze yourself. The third is health. That one’s big because most entrepreneurs are not healthy people. The fourth is audience or connections. Connecting with smarter people than you, building your audience, connecting with other people. Whether or not that’s doing some cold emails, whether or not that’s being on a podcast like this, whatever it may be. I spend four of my hours like that every single day. Ever since I’ve done that, my life is incredibly much better.
I think it’s a great guide. I really like the way you broke it out and dedicated an hour to each. My structure is a little bit different than that. I get up every morning. I spend about twenty minutes reading from the Bhagavad Gita or from The I Ching and I make notes from my readings and then I journal. Then I get my gym bag and I go to the gym. I come back from the gym and then at that point, I might check email, I might not, and I’ll just sit down and I’ll try to get my meditation done before I crack the computer and look at the screen probably not until 10:30 or 11 AM at that point. My morning is dedicated to that. My evenings are dedicated to what you call knowledge and character. I feel like I got all pieces of that and I’m working still on my audience by doing this podcast with geniuses like you every day.
It’s really interesting because I even brought this a step further because I think that’s great. For me, my morning is the time where I do all my work and stuff because by 3:00 PM comes, my brain is off. My brain is done. I work between 4:30 AM and 3:00 PM and then it’s basically, my brain is done. I’m an early morning guy. That’s how I am. I’ve been doing it for almost three years now. I would never go back. I love early mornings. The next thing I did that just layers something on top of it, these four things are all different based on who you are. I realized the four things that fulfill me is going to get to the conversation of purpose if we want to go there. The four things that fulfill me are creation, evolution, innovation and freedom. Those are the four things that drive me, that fulfill me. If I do those four things, I feel fulfilled, purpose-driven and happy. If I don’t do those four things, I don’t. Most of the problem that people have is that they tie their purpose to their business. I think that is BS.
Because at the end of the day, if your purpose is living or dying based on that business, you’re going to be emotionally tied to your purpose on a day-to-day basis based on how well or how not well that business is doing. As soon as that happens, now you’re going to be at the place and it’s just not a great place to be. Now, you’re on this even more intense emotional roller coaster. When we tie our purpose to our business, we tie our purpose to our significance. Most entrepreneurs tie their significance to their business, which is why we’re also going around with these huge egos and all this pride when we’re entrepreneurs, which is not healthy.
Totally agree with you and very well-said. Nothing wrong with it but you see people with their cars or automobiles, the automobile photographs of all the cars that they have, and all the possessions and stuff. I keep thinking to myself when I was that age, I went through that stuff too.” Once you get to a point where you truly know who you are, that stuff is good to have, it’s fun and you want to keep building.
It doesn’t define you.
No, it doesn’t and it’s not important either.
What I do is I just rent nice cars. When I travel, I’ll call up the Exotic Car place. It will be a couple thousand bucks versus the $300, $400 at Enterprise but it’s like, “I’m going to have that cool experience but that’s it.” I can’t justify spending $4,000 or $5,000 a month on a payment. If I have the money in that one specific time, it’s like, “I’ll do it.” I think that takes a maturement of understanding what your true purpose is. Just go back to these four things. What I’ve done is every single night, I draw a grid of these four things. I put my to-do list for the next day in that grid. Then, every Saturday, I do it for the week and at the end of the month, I do it for the month. I make my decisions and/or change what is happening based on those four things because at the end of the day, I know if I do these things I’m going to be so happy. I’m going to be so fulfilled. I’m going to be so fired up. Now, I drive my life based on what makes me fulfilled. I no longer drive my life based upon just what my business is doing.
What makes you fulfilled? What fulfills you now?
Freedom, evolution, innovation and creation. In August, I didn’t have anything in my evolution for August. I rented a nice place just outside Toronto here, messaged out eight or nine people, friends of mine that are eight-figure business owners. I said, “You want to come and hang out just for a couple of days in the weekend?” They said, “Yeah.” I said, “Come on,” so we did it. It’s not a mastermind. It’s nothing like that. No structure. Just got a barbecues, some friends, got an indoor pool. I’m doing that for creation. I was feeling a little bit not creation from July. I was like, “What can I create?” In our business, we needed something on a bottom-value ladder so I created a six-week Facebook master class. It ended up doing over a quarter million dollars in revenue, which is all cool and fine. We literally just spent $17,000, got a quarter million dollar in terms of the launch. The cool thing was it came from the fulfillment. I’m basing my business around what is the fulfillment. Basically, “Here’s the business. Here’s the strategy for the business. Here’s the business that’s basing its own thing, and then on top of that, here’s fulfillment and here’s where I’m going to get these different pieces of fulfillment.”
When it comes to freedom, it might be as simple as, “I’m going to go for a walk today. I’m going to go do this today.” One of the things for freedom in August is for five days I’m going in the mountains of Utah. No signal outside. No cell signal, no nothing. I’m going with some friends up there. My life has started to revolve around these four things and now I can play in my fulfillment instead of just letting my fulfillment go. Most people do not plan for their fulfillment. They plan for their finances or their goals. Since I started doing this, my life has never been the same. I’ve never been happier in my entire life.
It’s amazing how parallel we live our lives in that regard. Once a quarter, I take a trip and I go somewhere typically a foreign country. I immerse myself in a foreign culture with my camera and I photograph. That’s my freedom. Most of the time, I know exactly where my next trip is going. I know with friends I’m going with and I know exactly how it’s going to work out. Usually, we bring on a high-end travel agent to make it super comfortable and a lot of fun. I’d been to all over the world. I’d been all these places. The thing about what you said though, which is important, is the separation of fulfillment from your tasks. That is something a lot of people don’t get. People connect their fulfillment to their bank account. They connect their emotional state to their bank account too.
That’s so dangerous. I used to be like that for so many years. Honestly, I didn’t get past that probably a year ago. I don’t believe that’s just because my bank account is a heck lot better than it was ever before up to that point. I don’t think it was a correlation to that. I think the day that I realized how valuable I was, was the day that my life changed.
How did that come about?
I no longer care what was in my bank account because I knew that I was a creator of value. I’ve never gone into that. That would probably require some psychoanalysis. I have no idea how I came to that conclusion but I remember just realizing that. I’m not just saying this about me. We all are incredibly valuable people. We all have an incredible unfair advantage for whatever it is. We’re all authorities. We’re all “thought leaders” of what we do. We all have these experiences and this knowledge and this talent and so on and so forth that we have collected throughout our lives that is valuable to other people. Problem is, most of the time, we just don’t realize that it’s actually valuable and we screw ourselves out of our best version of our life because of it.
That’s the unconscious confidence that many of us seem to have but have never truly identified and never really found a way to monetize either. That’s where you’ve gotten very lucky because you found it, you’ve relied on it in terms of building a business, now you see it in a different light, which is what this conversation is all about.
It’s been very big for me to just try to get that gun to my head. I’ve lived the last five years with a gun to my head, which has created a PSTD-like symptoms. I’m glad I went through this when I was in my 20’s and not my 40’s because I’d probably end up with a heart attack if I was in my 40’s. I’m glad that while I can’t say here and say, “Never say never. Never say always,” but I really hope, I don’t have to go through what I went through in the last five years ever again. I’m willing to if I have to but I don’t want to. I don’t risk things the way that I used to. I try to keep my self-awareness in check of why I’m making certain decisions because I’m an emotionally-based person. I’m more emotionally based than I am logically based. That’s good in some realms and that’s bad in some realms. Let’s separate failure from loss. When it comes to loss, I don’t think anyone wants to go through a loss again. I don’t think anyone that is at a place of getting back what they had or whatever it may be wants to lose something again. I think that also influences our decisions. I also believe that it’s important to separate loss from failure because if you live your life to never fail, you’re only going to accomplish one in one millionth of what you could have.
If you did have to go through what you went through these last five years, it would elevate you to another level as well. You never can say, “I hope, I wish, I do.” It doesn’t matter. It’s going to happen or it’s not going to happen. Let’s transition to something else here because you built this enormous, incredibly, successful program called LeadCraft. What I’d like to start with is trying to understand how you came up with this and why is this something that’s so differentiated itself from everything else out there.
I think part of it is number one, we created a methodology. We created the SSF Method. Instead of me going through and talk about what it is, if someone wants to check that out, it’s the SSFMethod.com. I think the biggest side was I saw a market that was maturing where majority of people believed that we were in the early adopter stage still. We are in the early majority of internet marketing and I capitalized on it. Secondarily, I believe that in lack of perfection, you increase intimacy. We have one of the best support programs in the world when it comes to allowing entrepreneurs implement their lead generation. There’s nothing out there that I’ve been able to find at least at this level of support for the cost that we do at that. Number three, just being relentless. Just every single day, just preaching the same thing and eventually people get it through their skulls.
I don’t think there’s any magic formula that made this. I wouldn’t consider this as a success. If this can sell $100 million for this program, I think I could consider it a success. I consider that we have momentum today. I don’t consider myself successful at all. I think we have momentum. I think that we’re creating a massive amount of change in the entrepreneurship world and helping a lot of entrepreneurs go from entrepreneurial poverty to true ability to have freedom that allows them to have impact. I think that we’re doing amazing job with that. I think that goes back to probably why it’s actually getting that momentum is because of the fact that it is getting results. If you do something that allows people to get results, then you’re going to have something that will end up being. If you can get your marketing and your sales and your operations and your finances and your customer service and your technology, if you can get all those things to go together the right way, if you can spend all those places at the same time, you’ll end up with a successful business.
That’s what all successful businesses have to do. They can do one or two of those things right but anyone of those things falls down, anyone of those plates slips off the peg, then for most part it’s difficult to recover. You’re doing it right now and you’ll probably continue to do it and you’ll probably get better at it but there is where in implementation is where a lot of people fail. Good job so far. Keep it up my friend. You’ve got a lot more to do as you grow this.
It’s not easy because at the end of the day, it’s really easy to get the seven figures with just sales and marketing. It always seems like two types of entrepreneurship. Either you’re good at operations or you’re good at sales and marketing. The operation people, they can barely ever get the seven figures unless they change the paradigm. The people that are in sales and marketing, they get the seven figures and then they screw up because they don’t get the operations and finance right. I was talking to a guy. He’s doing $150,000 a month, amazing sales and marketing guy. The guy doesn’t have a life because he got no operations person. He’s still operating his finances from a spreadsheet. He doesn’t even have a bookkeeper. I was like, “That’s painful.”
That’s a miserable place to be.
I always call it the Six-Figure Hamster Wheel. He got himself in the Seven-Figure Hamster Wheel. That’s the thing. You have the six components of business. I can’t say that as you go on, you don’t get any less problems. You just get bigger problems. It’s not a situation where one day it’s like you don’t have any problems anymore, which is why I believe that it’s so important to be on the path of the journey you’re on because you’re able to build your emotional immune system so you can deal with these problems.
The problems do get more interesting, I will give you that though.
I definitely won’t say, “You have great problems,” because anyone that ever says they have great problems, I’m like, “I don’t care if it’s a great problem. I still got a problem.” I will say, they do get interesting and they do get more fun especially when the problem or the challenge isn’t, “We’re out of money in fourteen days.” The problems get a heck of a lot more fun to solve.
You and I can tell stories all day about stuff like this. I have a question for you, Scott. This is a question I ask everybody. It’s all about who you think of and maybe as your spiritual mentor. Who, in all space and time, would you like to have one hour to enjoy a walk in the park, a quick lunch or an intense conversation with?
I think this entrepreneur has blown up in terms of publicity. I definitely admire Elon Musk. I have actually next to me to be mentored by him. I think this is tossed around a little too much but I think he’s a unicorn entrepreneur. He is a Steve Jobs. He is a Richard Branson. A very abnormal and not somebody that I think entrepreneurs should base their life and/or business on. I think you’ll be very unhappy if you base it on Elon. In saying that, he has a parallel vision that I have in many ways for what I want to do while I’m here on this planet. I think that that would be really great and really amazing.
I actually just sent him an email and said, “Can I get you on my show?” We’ll find out if he can appear or not. That leads into my next question, which is truly the grand finale question which is this: What is it that you are doing or would like to do that truly has the potential to literally change the world?
I’ll answer this question with a two-part response. Today and for the next five years, I’m changing the way that entrepreneurs are able to get to a point of flow in their freedom and impact in their business. I do that by essentially allowing them to have the mentorship, support and the right road map. For the next five years, my goal is to be able to impact millions of entrepreneurs to make the path easier. I don’t think it takes fifteen years to be able to have a successful business. I think I can cut that down to five. I’m not saying that it doesn’t take for a long time. It doesn’t say it doesn’t take lots of determination and patience. I think I can help a lot of entrepreneurs do that. If I look to what I must do before I die and the impact I want to have, today, I am not sure what it is but I do know that I love helping humans evolve.
My goal and my purpose in life is to help the evolution of the Homo sapiens. What that means today? I’m not sure. My goal for the next five years is to be able to have the influence and the financial resources to be able to massively impact that for the rest of my life. I’m not sure what it is. It might be biotech. It may be artificial intelligence. It may be a combination of many things. That is what I feel I needed to do before I die. I don’t have that well-defined largely because of the fact that I believe in a fluid and dynamic worldview. To be honest, I don’t even have the understanding, knowledge or should I even know what that is just now because even if I did, I wouldn’t be able to impact it with the way that I want to be able to impact it. I have a plan for what my next five years have in store. After that, all I know is the scene of what I want to do.
That’s quite a mission and I think everybody listening would love to support you. There’s going to be a link at the bottom and you’ll be able to download something very special from Scott for you. Click on that link and download what Scott has for you and follow his instructions. Follow Scott because I believe he’s one of the guys who is going to change world. Thank you, Scott Oldford, for this incredible interview. I hope to talk to you again soon.
Thank you, Mitch. Thank you so much for listening today. I’m really, really excited to get to know you a little bit more.
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