Imagine for a moment you got the news that you have one day to live. Just one. And it’s not Groundhog Day in Punxsutawney. (Nice try though.) You have enough time to say goodbye to your closest friends and family. But not enough time to add to your life resume in any meaningful way. I know this is a bummer. It’s supposed to be.
Now, take a moment to reflect.
What do you regret not doing during your time on the planet?
Travel?
Starting a business?
Writing your book?
The relationship you left unrelated?
Being scared?
Not giving back?
Not being your true self?
Too little time with loved ones?
That person you murdered?
Not buying life insurance?
The good news is, as far as I know, you have more than one day left.
The even better news is that you now know what to do with your time left. Do those things you would regret not doing now. Or stop doing the things you would regret not stopping now. That way, when you get to the real end of your story you will have more ‘I dids!’ and fewer ‘I wish I hads.’
The Proof
I gave myself this Regret Test on the eve of my 40th birthday. The regrets that surfaced inspired me to start my own business (The Weaponry), write a book (What Does Your Fortune Cookie Say?), travel more internationally, coach my kids’ sports teams, take redeye flights home from work trips to maximize time with my family and donate blood. The Regret Test offered the most important question I have ever asked myself. I encourage you to do the same.
Key Takeaway
Regret is a powerful tool. It helps you recognize the relative value of alternative outcomes. Tap into the power of regret to inspire your next actions. And start doing the things you wish you had done now, before it is too late.
*If you know someone who could benefit from this message, please share it with them.
One of the great mistakes we make in life is waiting to act until we know everything there is to know about a subject. It seems we want to know everything there is to know about running a business before we start one. We want to know everything there is to know about investing before we commit our money. We want to know how to write a book before we actually write a book. And we want to know everything there is to know about raising a child before we ever have sex*. (*My kids may be reading this.)
Most of this quest for knowledge is simply procrastination. Starting the process is the greatest teacher of all. Because standard-issue humans learn best by doing.
When you take the first step the next step reveals itself. (Unless you are Eddie Rabbit, in which case you take that first step, ask her out, and treat her like a lady.) You will get better and smarter faster by starting than by studying alone. Until you take the first steps you don’t know what you don’t know. However, once you begin you quickly learn what you need to know next.
A Case in Point
I had thought about sharing some video lessons from my book What Does Your Fortune Cookie Say? for a long time. I knew that the summaries from each chapter would translate into good shareable video messages. But I never acted on it. Because I wasn’t clear on the best way to do it.
Then one morning when I got to work I talked to Taylor Amann, our social media manager at The Weaponry (and resident American Ninja Warrior) to help me get started.
Here’s What happened.
We set up her phone on our ring-halo light tripod.
2. We explored recording the video standing up and sitting down.
3. We placed my laptop behind the phone so I could read the script.
3. We found a teleprompter app on my computer that allowed us to scroll the script like the teleprompter a newscaster uses to deliver lines directly to the camera. (And, yes, I reminded San Diego to stay classy.)
4. After getting a take we liked Taylor found a good app that automatically translated my spoken word into words on the screen. So viewers could read the words I was saying as I said them. This is not only great for reinforcing the lesson I shared, but it made the video fully digestible with the audio off.
5. Then we discovered that the app, also had a teleprompter. Which would lead to an even better sightline to the camera than the laptop teleprompter offered.
6. Finally, we rerecorded the video, on the halo light tripod, using the new app, which turned Taylor’s phone into a perfect teleprompter/camera combo. The app automatically added the supers so you could read what I said in real time.
The Learning
What stood out to me about this process is that by getting started we kept getting smarter and smarter. Within 30 minutes we went from never having tried to record a video like this to having discovered the perfect app that made it simple to combine the recording, the teleprompter, the supers, and even add music, or a zany slide whistle.
The video is not perfect. My shirt is all scurzumpled. I don’t have the energy I’d want for a shareable recording. But we quickly went from nothing to knowing how to create the video we wanted through a simple progression of testing, learning, and improving.
Key Takeaway
Don’t wait to get started until you know everything. Condition yourself to take the first step sooner. Because the first step is the kindergarten step. All other learnings and lessons come as a result of that first step. What you learn from a book, class or video is just theory. The application is where the quick and useable lessons kick in. So get going. Get smarter as you go. And get back to me when you realize how useful this approach is.
*If you know someone who could benefit from this message, please share it with them.
In 2014 I moved to Atlanta. The amazing advertising agency I worked for had been acquired by a public holding company a year earlier and the new company wanted me at the Atlanta headquarters. I had been banana-splitting my time between Atlanta and Columbus for 3 years at that point. And I was happy to finally move to the ATL full-time. But I could tell the new holding company was going to make things very different. And I expected a plot twist. And I wanted to write the script for that twist myself.
Shortly after moving to Atlanta, I began looking beyond the horizon to plan for the next step in my career. I was looking for the next great ad agency to join within a circle of acceptability near my nearly retired parents and my mother-in-law (who was not actually a lawyer). After living in 3 states in 8 years I was making plans to set the circus down someplace where my 3 children could enjoy middle school and high school in one town.
I had conversations and meals with many different agencies. But like those guys combing the dessert in Spaceballs, I didn’t find what I was looking for. Not to say there were not a lot of great people and great agencies. But I could afford to be choosey. I had a new job. And a jar of Jif.
The conclusion I came to was that the business I was looking for in the place I wanted to live, with the culture I wanted, with the compensation I expected, did not exist. So I decided that I would create my own business. Within a year I had a full-fledged passion project on my hands. I spent my nights planning and building what would become The Weaponry. And it checked all my boxes. Because I designed it specifically so that it would.
Creating your own business means that you get to create your own dream scenario. Like Wayne and Garth. You get to decide what you do every day. You get to decide where you live, what the culture is like, and who you work with. Better yet, you never have to apply for a job, wait for a gatekeeper to reply to you, or wonder why some other employer didn’t like you more. Which is pretty fricken great.
Key Takeaway
If you are not finding the place you want to work, consider creating that place yourself. Don’t wait for someone who doesn’t know you or recognize your full potential to get back to you. Don’t let other people close doors on you. Take control of your future. And your income. And your happiness. It’s easier than you think. I started the advertising and ideas agency The Weaponry 7 years ago. Along with asking my wife Dawn to marry me, it was one of the 2 best decisions of my life. If you have questions about how I did it, email me at adam@theweaponry.com. Or reach out to me on the socials. I’m typically @adamalbrecht. If you know someone who really should start their own business please share this with them too.
I thought about becoming an entrepreneur for a long time before I summoned my inner David Lee Roth and actually jumped. In fact, I thought about starting a business for nearly 2 decades before I launched the advertising and idea agency The Weaponry. Which means that, unlike Geddy Lee, I didn’t rush into anything.
Once I had my entrepreneurial awakening in the summer of 2015 I began generating income within just a few months. I officially legalized The Weaponry as an LLC (yeah, you know me) in the spring of 2016. And while I have physically looked back since then, I have had no regrets.
Over the past 7 years, I have learned a lifetime’s worth of lessons about entrepreneurship. (Starting with how to spell the word itself.) But the most important thing to know about entrepreneurship is this:
The entrepreneur is the great limiter of the business.
10 Ways Entrepreneurs Limit Their Business
You will be limited by your energy and ability to work hard.
2. You will be limited by your network and willingness to reach out and connect.
3. You will be limited by your ability to recruit and hire. (Think about it. There must be hire love.)
4. You will be limited by your willingness to create standardized processes.
5. You will be limited by your ability to give up control to others.
6. You will be limited by the size and scope of your vision.
7. You will be limited by your ability to control your greed and keep your hands off the cash flow, Gordon Gekko.
8. You will be limited by your ability to grow sales to scale your operation into a more effective and efficient machine.
9. You will be limited by your creativity and willingness to innovate
10. You will be limited by your risk tolerance. If you are not willing to walk the tightrope to the promised land you will never get there.
Perhaps most importantly, there is no one else to blame if you don’t become an entrepreneur at all. And if you are an entrepreneur, there is no one else that will prevent you from growing your business’s annual revenue to $100,0000, $1,000,000, $100,000,000, or $1,000,000,000 per year. That’s on you.
As the entrepreneur, you are both the gas pedal and the brake. Most people are afraid to take their foot off the brake, and as a result, never get going. Which means they never see where their journey could have taken them. Don’t let that be you.
Key Takeaway
Find your entrepreneurial gas pedal. Get going. Keep going. Then go faster. It will be your willingness to go, grow, create, and accelerate that will determine how far your journey takes you. We all have a limited amount of time. So go while you can. Realize that you are the determining factor. So be determined to be more.
*If you know someone who could benefit from this message, please share it with them.
We all have big things we want to do. Goals, dreams, and aspirations are easy to find. Just ask any waiter in Hollywood. What is harder to find is goals met, dreams realized and aspirations achieved.
You can spend a lot of time thinking about the great things you want to do. You can talk about your plans. You can write them down and sketch them out. You can listen to podcasts and read newsletters and books. You can go to seminars, workshops, and meet-ups. And all of those things will feel like progress
But Oklahoma sooner than later, planning and preparing simply turn into procrastination. Because there are only ever 3 things that matter in the achievement process.
The 3-Step Achievement Process
Where you are now.
Where you want to finish.
What you need to do next.
You already know where you are. (You do know where you are, right?) So once you know where you want to finish you have to quickly move your focus to what you need to next. That is the entire planning process.
The rest is doing.
If you want to start your own business, you should be working on your product or service, or finding customers.
If you want to write a book, movie, or play, sit down and start writing. (Unless you have a standing desk.)
If you want to become an investor in real estate or business, freaking buy something.
If you want to be an entertainer, start entertaining people.
If you want to travel the world, go somewhere you haven’t been.
If you want to be a nude model, lose the turtleneck sweater.
Key Takeaway
The difference between dreamers and doers is action. Once you know what you want to accomplish find the next step forward and take it. Once you start moving the next step always reveals itself. Gobble up those next actions like Pac-Man eats dots. Then keep going until you have cleared the board and you are ready for the next level. That’s what achievers do. And you will achieve by taking action.
*If you know someone who could benefit from this message, please share it with them.
The latest numbers on new business creation are staggering. New business registrations in Q3 of 2020 are up 77% over Q2. Which means there have been more new businesses registered in the past few months than at any comparable time in history. The Covid-19-induced disruptions have created all kinds of new opportunities for entrepreneurial-minded earthlings to capitalize on.
There are suddenly great interests in face masks, Non-Brooke shields, plexiglass, distance learning, contactless-anything, at-home entertainment (which sounds dirty, and maybe is), home remodeling, camping, food delivery and a hundred other things.
Of course all this new business creation isn’t purely good news. Much of the new business development is from displaced employees whose best, if not only option, is to start their own business and give it the ole college try. (Or, in some cases, the ole high school or GED try.)
As an entrepreneur, I find this extremely exciting. There will be great businesses that come out of this time. But not all the stories will have happy endings. (Meaning fairy tale-style, not Robert Kraft). I predict that the brave women and men who are now embarking on their entrepreneurial journeys will have one of three outcomes:
Little To No success: This is due to an inability to attract customers or clients. Costumers are the helium in a startup. If you can’t find customers the business won’t float.
Great Initial Success, Then Dramatic Failure: This is because they found initial customers, and delivered the initial product or service, but then couldn’t keep it going and build momentum.
Huge Success: These startups will quickly mature into real businesses and will flourish for years if not generations to come.
What Makes The Difference?
Anyone can start a business. If you can find customers you can do the work yourself and make your customers happy. But that’s not where the long term, sustainable, flywheel-style magic happens.
To build a business you have to create a system. Create YourWay. Make it repeatable. Your repeatable system is what enables you to both deliver for your current customers and attract new customers at the same time.
The system, your system, creates order, predictability and a clear division of responsibilities. It creates room for continuous improvement. It allows you to bring in help (employees) with little to no experience and contribute in meaningful ways.
The system allows you to step out for a bathroom break without the business also springing a leak. If fact, with a good system in place you should be able to take a monthlong vacation in Europe and the business will keep humming along. (Assuming American’s are allowed to visit Europe again. And assuming businesses are allowed to hum.)
Failed business owners realize too late that they didn’t have a repeatable system. A system that could be used to attract new customers, and keep them happy in a profitable way. They didn’t have a system that worked in both good times and bad (Think JJ Walker and Michael Jackson times). The didn’t have a system that enabled them to scale up and down when needed. Don’t let this happen to you.
Key Takeaway
Don’t just do the work. Or all you are is a worker working without a net. From the beginning you need to create and use your system. Think about what works now, document, follow it, and continuously improve it. It should allow you to use other people’s time to get the work done. Because if you have to do all the work yourself it is not a business. You simply own your own job. Which will be hardest, most stressful job you’ve ever had. But a system that sets you up for long term success will create a great work environment for everyone in your business. And you’ll wonder why you didn’t start your own business years ago.
Before 1776 there was potential. A lot of potential. The American colonies were full of smart, talented, ambitious men and women who wanted more and better than the old world could provide. We had stars. We had bars. And we had Betsy Ross threaded and ready.
The fuse on this firecracker was lit in the summer of 1776. The best and brightest came together with a vision and a quill pen. And when they finally took action they launched the greatest startup the world has ever seen.
Betsy Ross Like A Boss
But like any startup, they didn’t get everything right, right out of the gate. However, they created a system that enabled the system itself to get better, stronger and smarter over time.
Using the system itself we have been able to clarify that all men are created equal really means all men and women. Itincludes all colors. It includes all religions. It even includes the New York Yankees.
Today, that cute little Philly startup from 1776 is now the most valuable organization on Earth.
This Independence Day weekend I hope you take a few minutes to consider this amazing organization of ours. An organization that began with just some powdered wigs and a dream.
We must continue using the system to make the system itself better. It is not only our right, as shareholders, but it is also our obligation.
In the words of the great American writer, Will Smith, Boom, Shake Shake Shake The Room.
I hope the 4th of July also inspires you to consider your own independence.
If you have been thinking of starting your own business, do it now.
If you have lost your job or your entire industry, start fresh now.
If you are energized and eager, it’s go time!
If you are desperate, you have the most powerful fuel of all.
In the words of Montel Jordan, this is how we do it.
If you want to start your own business but don’t know where to begin, send me a note. I have started my own business. Today, I want to help others experience the same feeling of independence.
And If I can do it, you can too. I know. Because we are all created equal.
For many years I dreamed of owning my own business. Like Bruce Springsteen, I loved the idea of being my own boss. I liked the idea of making my own money. I thought that starting your own business sounded badass. Because that entrepreneurial leap seemed like Evel Knievel jumping a whole fleet of school buses on his motorcycle. And I wanted to try it myself to see how it felt.
My Leap Year Leap
4 years ago this week I did it. I launched the advertising and idea agency The Weaponry. And the leap certainly has offered an Evel Knievel-type thrill. Yet with very little risk of broken bones. Which is nice.
However, the things I have enjoyed most are not being the boss, making my own money, or feeling like a badass. In fact, I could not have predicted the things I have enjoyed most ahead of time. They are benefits that you have to take the leap to discover. Unless of course someone takes the leap, writes those things down, and shares them with the world in a blog post. Like I am doing right now.
The Top 4 Things I Have Enjoyed Most About My 4 Years of Entrepreneurship
1. Getting To Say Yes To Anything.
People long to get to a position in life where they can say no to things they don’t want to do. But that is small thinking. When you own your own business you get to say yes to anything. Kinda like Meg Ryan in When Harry Met Sally. If an opportunity comes along that seems too small, too crazy, or needs too be completed too fast I can say yes to it anyway. In fact, I can decide to work on anything that interests me. The budget can be small, or nonexistent. And I can still say, ‘Yes, we will help.’ In business, that is a super power.
2. Paying People.
I always imagined that making your own money as an entrepreneur would be amazing. What I couldn’t imagine was the feeling of sharing thousands of dollars with others for their hard work. And then tens of thousands of dollars. And then hundreds of thousands of dollars. The first day that I noticed The Weaponry had paid people over a million dollars I just stared at my Quickbooks screen and smiled, like a perv watching online porn. Ironically, the payouts have been the great reward in the adventure. Because I know we are positively impacting many lives. Not just mine.
3. Creating A Valuable Tool.
Early in my career I was in a focus group full of power tool enthusiast. And when asked what his favorite tool was, one Tim Taylor-type said, ‘My favorite tool is the right tool I need right now.’ Then he grunted.
I’ll never forget that. Over the past 4 years we have developed The Weaponry into a valuable problem-solving tool. Our clients turn to us because The Weaponry is the right tool they need right now.
This business is a valuable tool because it helps convert opportunity into reality. It helps make the invisible visible. It opens new paths. And it magnetizes brands and helps draw people to them. When clients call us they are saying, you have the tool our business needs right now to be successful. Which makes building and owning that tool extremely rewarding.
4. Having Wet Clay.
Before I started The Weaponry I thought of a business like an office with people and desks and a logo. But once you create your own company you realize that a business is really wet clay. And as an Entrepreneur you have the ability to shape and reshape the business any way you want. In fact, it is your responsibility to continuously reshape the clay to improve and optimize it. As businesses respond to the COVID-19 crisis, we are all reshaping the clay to make sure we are prepared for what the world needs today, and tomorrow. Because the world needs small businesses.
Key Takeaway
Entrepreneurship offers one of the greatest adventures on the planet. It is empowering, rewarding and infinitely creative. It offers the opportunity to positively impact others in ways that are hard to imagine before the journey starts. Thank you for sharing in my journey. I can’t wait to see where we go next!
*If you know someone who could benefit from this story, please share it with them.
The idea of starting your own business can be scary. The statistics say that there is a high probability of your dream business failing. But then again, there is a really, really high probably that your heart will fail at some point too. And when that happens none of your other failures matter anymore anyway.
A Safer Bet
But there is a way to practice safe entrepreneurship. It’s not perfectly safe. Just like there is no perfectly safe sex. At least not any that involves other people.
Do what you know.
If you want to become an entrepreneur, but your tolerance for risk is sweet n’ low, the safe thing to do is to start a business in an industry you have already worked in.
It turns out that entrepreneurs are 125% more successful if they’ve previously worked in the industry they start their own business in.
Keep on rocking in the free world.
This should be encouraging to those of you who are rockstars in your current job and think you could do it even better on your own. That’s what I did. Okay, so I am not really a rockstar. I am more like a bluegrass artist with a loyal local following, that consists mostly of my family and the hard of hearing.
The Weaponry
After working for other advertising agencies for 19 years, I launched my own advertising and idea agency in 2016. Today, The Weaponry is nearly 4 years old. And I have been able to pour all of my industry experience directly into my entrepreneurial adventure. And in return, it has poured some sugar on me.
Key Takeaway
If you really want to start your own business, and I hope you do, consider starting a business in the industry you are already working in. Your experience and connections give you a major advantage. You do have connections don’t you? If not, work on building that parachute before you jump out of your current airplane.
Fun note: I am writing this on a plane as I fly to Florida to film the CEO of one of our greatest clients. We work with this great client because my friend and former coworker, Erin Lovett recommended us. But don’t worry. I won’t jump out of the plane. It would put a quick end to my 125% advantage.
When I set out to launch my own business I had no idea what I was doing. So I talked to a lot of successful entrepreneurs. I wanted to learn as much as I could about how to launch and run a company. I was looking for the standard tips and tricks. What I quickly discovered was that there are no standard anythings. Everyone I talked to had their own recipe for success. Or what I call a successipe. Which is a mashup of success and recipe. Admittedly, successipe works better as a spoken word than as a written word. But I have no editor deleting this. So it stays.
Don’t Reinvent The Wheel
When you are learning a new skill or craft, is is a great idea to talk to people who have already done what you are attempting to do. Ask questions. Listen. Observe. Borrow or steal proven plays from someone else’s playbook. It’s how we capitalize on other people’s experiences and mistakes. Which allows you to grow faster than bumbling and fumbling alone. #peeweeherman
A Memorable Encounter
As I prepared to launch my own advertising agency I met with a very successful entrepreneur. I was extremely excited to learn from him, because I greatly admired him as both a friend and a businessman. Over the course of our conversation I remember 3 pieces of good advice he gave me:
Do NOT name your company The Weaponry.
Perfect your elevator pitch.
Focus on your Pro Forma.
This was a trifecta of good advice. All 3 points were grounded in decades of experience. But none of this advice fit with my world view. Or my approach to business. Or my appetite for risk. So I didn’t take any of it.
The Name
I love the name The Weaponry. I love that it sounds strong and provocative. I love that it elicits questions. If you want a great conversation starter tell people you work at The Weaponry. When people ask about our name, and people always ask, I have a great answer that always wins people over. I’ve written about our name in the post: What In The World Does The Weaponry Do?.
I am not trying to play it safe, or avoid a raised eyebrow. In fact, I like a good raised eyebrow. I’ve been getting them my whole life. Today, 3 years into my entrepreneurial journey, I can tell you that The Weaponry’s name has been a powerful weapon for our business.
Just one of the reasons we love our name.
The Elevator Pitch
I hate the term elevator pitch. I have never once found myself on an elevator with a couple of floors to pitch for my one and only chance to woo a client. It’s a bullshit term that assumes we have one specific offering for our customers. That is not how The Weaponry rolls. And I knew that from the very start.
My sales pitch is not a sales pitch. It is a conversation. It focuses on unmet needs. If you don’t have any unmet needs my elevator pitch is not going to work anyway. And if a potential client ever tells me I have :30 seconds to sell myself or she will bang a gong (#PowerStation), I know we are probably not right for each other. I have written about my disdain for such nonsense in This is where I encourage you to pitch your elevator pitch.
I have no idea who is pitching and winning business in an elevator, but it’s not me. Maybe it’s Steven Tyler.
The Pro Forma
Pro forma refers to a method of calculating projected financial results using certain presumptions and projections. It’s a very finance-centric approach that simply isn’t how I process the world. In fact, in these early years of rapid growth creating a pro forma feels like fiction writing.
In our first year, The Weaponry started with no clients. So our projections would have been $0 in revenue. Then, we started acquiring clients, but we had no retainers or contracts guaranteeing how much the clients would ultimately spend. So what could I project? Totally made up numbers? In years 2 and 3 The Weaponry doubled in business. I could neither predict nor plan on that type of growth either. What to do?
The Kite Flying Method
What I use instead of a pro forma is what I call the Kite Flying Method. When you fly a kite, your goal is to get the kite as high in the sky as possible. This is a matter of wind and string. To fly the kite higher and higher you let out string, little by little, based on what your wind will keep aloft. You can’t plan your kite height ahead of time. You have to react to the conditions, in the moment, based on the wind you have to work with.
Let’s go fly a kite, up to the highest height.
To do this right I always play it conservatively. I let out less string than the wind would support. This keeps tension on the string and keeps the kite in the air. You also have to know the difference between sustained wind and a short term gust.
All of this is to say that we invest only what our revenue allows. When revenue increases, we can spend more. We have a wish list of positions we would like to hire and resources we would like to have. But we only hire or buy what we can clearly cover today. I have also written about this in a post called If you want to be an entrepreneur start by flying a kite.
Key Takeaway
There are a broad range of ways to be successful. Don’t let anyone make you think there is only one approach. You have to find what works for you, and your unique set of beliefs. It is great to have a Mastermind Group to turn to. It is wonderful to study others who have done or are doing what you aspire to do. But you don’t have to emulate them. In fact, you can do just the opposite if it feels right to you. Study, learn and listen. Incorporate the things you like. Or invent your own approach. There is no right way. Be your own boss. Be true to yourself. And do it your way.
*If you know someone who could benefit from this story, please share it with them.
Adam Albrecht Blog 