Turning Failures into Success: Building a Lifestyle Business in 2022

Timestamped Summary

• 🤦‍♂️
  00:00

  In 2022, I'm reflecting on my biggest failures to show how they can be reframed as learning experiences.
• 🤔
  01:44

  We failed to hit our target of 3 million pre-tax profit due to not keeping our spending conservative.
• 🤔
  06:51

  Chasing success requires wanting it and being good at it, but even reaching 2 million in profit this year can still feel like failure.
• 🤔
  10:54

  Optimizing for fun, freedom and flexibility, I now have the freedom to focus on what I love, while still having a profitable business with fewer than 12 people and at least $100,000 revenue per employee per year.
• 🤔
  16:30

  After trying different projects, I decided to focus on building a lifestyle business that provides fun, freedom, and flexibility.
• 🤔
  21:10

  Committing to a 30-day experiment can help decide if a project is worth pursuing, but entrepreneurs must find the balance between having a strong vision and giving their team autonomy to execute.
• 💡
  24:31

  As a leader, spend time each week to think strategically and create a plan, website, and financial model to pitch to investors.
• 🤔
  27:57

  Guarding my own time and prioritizing important things over urgent ones is key to achieving my goals.