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I always say that you don't need to be a straight-A student to achieve things in life, to become somewhat successful, because at some point, what interests you is what makes you move forward.
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What is going on?
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L&m family family back again, this time with a very seasoned entrepreneur, international entrepreneur with over 35 years of experience.
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Background come from Mexico City.
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He's the co-founder of Tricon Homes and he's making a big, gigantic impact in the Houston real estate space.
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So something tells me we might have some investment nuggets.
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I'm not sure, we'll see how it goes.
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And he's an author not just of one book.
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There's one book out and available for you now and there's another book that's getting cooked up.
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Mr Jose Miguel Medlanga we're going to get to know him.
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He's in Houston, right down the road here from San Antonio Banga we're going to get to know him.
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He's in Houston, right down the road here from San Antonio.
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But before you get to know him, if this is your first time here, this is the Learnings and Missteps podcast, where you get to see how real, amazing people just like you are sharing their gifts and talents to leave this world better than they found it.
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I'm Jesse, your selfish servant, and we're about to get to know Mr Jose.
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Mr Jose, how are you?
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Sir?
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I'm wonderful.
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How are you, Jesse?
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Great to be here.
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Oh, I'm excited Again.
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It's kind of unfair and I've said this a bunch of times, but it's really unfair that I get to meet some pretty darn accomplished people as a result of this podcast and you, sir, are extremely accomplished, way out of my league, and I get a chance to have a conversation with you, and so I know you have multiple degrees and it was interesting to me, and so this question kind of bounced around in my head what is the connection between economics and philosophy?
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There is none, none there is none in the surface until you actually dig a little deeper.
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And thank you, by the way, for the introduction.
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I bet it's great to be here.
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The honor is all mine.
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I love the name of your podcast Learning and Missteps.
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I'm it's great to be here.
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The honor is all mine.
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I love the name of your podcast Learning and Missteps.
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I'm full of missteps.
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Endless number of missteps.
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That's my specialty.
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Not much in my life, I haven't messed up yet, but it's all a learning process.
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So philosophy happened to me as an accident.
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I went to St Thomas University here in Houston.
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I was a horrible student.
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I always say that you don't need to be a straight-A student to achieve things in life, to become somewhat successful, because at some point what interests you, is what makes you move forward, is what makes you move forward.
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And becoming a scholar book smart was just not for me.
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It wasn't my specialty, it wasn't my area of expertise.
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But I knew that I wanted a degree, I wanted to graduate, I wanted an education.
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I thought it was necessary.
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I had the opportunity and I didn't want to waste it.
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And I liked the subject of business.
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My major was business administration, but I also like economics.
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I just felt that it was a good combination.
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And then, to wrap things up nicely, the University of St Thomas is big on philosophy and theology.
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Obviously it's a Catholic university and the core curriculum operates a lot of philosophy classes.
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So if I added a few more I could also get a major.
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So I go, wow, why not get an extra major?
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And that was wonderful.
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But just to wrap up the response to that question A lot of philosophers, scientists, were businessmen, were mathematicians.
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As a matter of fact, it's funny that you mentioned one of the first philosophers of the.
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Somebody that I studied at some point was one of the most brilliant businessmen.
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So the more you learn just not to get in the subject, but the more you learn about some of these philosophers, they were also businessmen and they were good at it somehow.
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So there is something to be learned about their way of thinking and the way that they approach problem solving, which ultimately, business is all about solving problems.
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Oh, my goodness.
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Thales, thales.
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Miletus just came to's one of my, my favorite philosophers, so anyway, okay, we'll look them up and make sure L&M family you already heard look them up, cause I know some of y'all want to be in the business game.
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So here's an interesting thing that you said something I'm like oh man, the they, their background was in business or mathematics or they had an expertise that maybe that was their livelihood, and then the philosophy thing was maybe not primary to begin with and in business.
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I just started my business just over three years ago, jose and I had no idea what the hell I was doing.
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Now, I've always I still really don't know what I'm doing, but I've always been.
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Neither do I, by the way.
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Okay, we're on the same page.
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So I've always been had a ravenous appetite to learn and grow, and I'm going to.
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Since I started my business three years ago, the amount that I've grown in terms of self-awareness and understanding, the capability or the depth of potential that not only I have, but the people around me have, is tremendously greater than all the years preceding that.
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And so I wonder, like these folks that were experts the philosophers that were experts in their particular field then got into philosophy if it was because of the growth they experienced in business.
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And so maybe the question then is has being in business helped you discover or learn anything about yourself?
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Every single day, I continue to learn something about myself in the business world the good, the bad and the ugly.
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Yeah.
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What I like.
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Believe me when I tell you that this is an ongoing process.
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At my age, after almost 40 years of owning businesses, of being an entrepreneur, I continue to find things that I don't, not only that I don't know and that I don't understand very well, but that I like and that I enjoy about the business world.
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I continue to discover myself and rediscover myself and perfect my process, learn about my own identity.
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Finally, I can begin.
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After so many years, I can begin to understand why it is that I pursued this career, what I like and dislike about myself and about the business world and how to properly approach it.
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Because in the early stages of your career, it is more about the obligation, the responsibility, achievements, getting somewhere, getting something done, no matter what, no matter how.
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And as you become more seasoned over the years in the business world, it starts coming together.
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You start structuring a system in which you are still productive and successful, but you begin to enjoy it a little more.
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So you start molding the business world a little bit better and I continue to learn that process.
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After so many years, I'm learning about myself every single day and you start learning your limits, you start pushing yourself, you start understanding what you're able and not able to do and how to deal with the endless number of setbacks that that you're faced with yes, yes, okay.
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Now, you mentioned at the beginning here that you weren't the greatest student, but, based on what you've said so far, you are a rapid learn like.
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You can learn rapidly and adjust, and learning in your own business is a high stakes game.
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It's not like you can study and you're playing with somebody else's money.
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You're playing with your livelihood.
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So what do you think?
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What would you say to to the youngster out there that is struggling with their grades and that would help them understand that the grades getting A's in class is not a definitive marker of what their potential is?
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Correct your grades in school do not define who you are, and they certainly don't define your level of success or your IQ, your ability to learn or your ability to move forward in life and do well in life.
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The reality of the business world and in any type of career is very different.
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It's more geared towards your level of interest in whatever it is that you're doing.
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It took me many years to realize that I wasn't dumb.
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At some point I thought I was kind of dumb.
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I was not very qualified, I was not very good at anything.
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I was distracted, I was ADD, I struggled to read, I struggled to learn.
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But many years later and little by little, I began to realize that it wasn't necessarily me, but it was the things that I was trying to learn that weren't interesting to me.
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Little by little.
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I began to understand what were the things that drew my attention, what were the things that captivated me and that made me a better person and that made me good at whatever topic it was.
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And when it got to certain things for example, closing deals and going after earning money doing transactions in a specific type of activities that became very interesting to me, all of a sudden, I began to realize that I excelled and that I was actually doing better than most of the top students that I encounter over my lifetime.
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So there is life after school.
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It doesn't mean that you shouldn't try your best, but a huge mistake that all of us make is to try to become better at the things that we're not good at, and we ignore the things that we are actually good at.
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You tend to try to pay more attention to the classes where you're doing poorly and ignore the ones where you're already doing well, and it should be the other way around.
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You should understand what you're good at and try to become excellent at it.
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So that, over the years, it took me a while to understand.
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I want to give the L&M family member shout out, and this one goes out to Miss Donella.
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Miss Donella made a post.
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She re-shared a post that I put on LinkedIn and said some beautiful words and of course I want to share them so that I have evidence now that I'm not that bad.
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A guy, ms Donella, says you absolutely do not need to be in the construction industry for the truth bombs of Jesse to completely change your perspective.
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But if you are in the construction industry, you've got to be keeping up with his stuff.
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If you've ever struggled to get things done, make decisions or make progress, and especially if you've heard all the advice and you intellectually know, if you've heard all the advice and you intellectually know, but you're struggling with it, he has a way of saying it that helps you get out of your own way.
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Ms Donella, thank you so much.
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Those are super awesome comments.
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I'm going to show it to my mom because now she can be proud of me.
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And for the rest of you you already know leave a message, send me a DM, do some stars, share it with your people, because that gives me an opportunity to shout you out on an upcoming episode.
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Yeah, no, I got another question for real.
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You've said you've run multiple businesses.
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How many times has a client or a prospect ever asked you for your report card?
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Never.
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Not, yet they do ask for it in a different way.
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There are different versions of a report card.
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They want service.
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They want commitment, they want loyalty.
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See, in life's report card there are other line items and other ingredients that are not part of the education system.
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Yes, sir, they are going to want to see my financial statements.
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They're going to want to understand if I have been a responsible citizen and a financially responsible businessman.
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So those are other forms of report cards that you start building over the years as your career moves on.
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Yeah, totally.
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I heard somebody say it.
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I was like, oh, that's brilliant.
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We need to shift our focus from building the resume right the resume list to building our obituary list.
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What is it that people, the human beings, are going to remember about us when we move on?
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Not, I've worked on a 280,000 square foot project.
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Nobody cares about that.
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They care about the other things that are indicators of our character, of our integrity, of our willingness and ability to serve and deliver.
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That's life.
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That's what it's about.
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Now, you touched on an important thing around kind of discovering, exploring, experimenting with your interests.
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Was that something that was just intuitive for you?
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How did you build the confidence to go down that path?
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Because I know a lot of people.
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That's a danger zone, right, the conventional thinking is go do this path and build the weaknesses or whatever, but what you seem to have mapped out is a different way that really helps you find something that fills you, that fills your cup.
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Yes, you're right.
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As a matter of fact, it took me many years to become more aware of what I'm good at and what I like doing.
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There were years when I believed that I wasn't good at anything, without really understanding that entrepreneurship itself is a science, is an activity Putting deals together.
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You don't have to be an expert in any specific science.
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I felt incompetent because I wasn't an attorney or a doctor or an architect or an engineer anything specific that the world needed and I felt like I was missing something.
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Also, I grew up I'm a little older than new generation, which has it a lot more clear in the respect of understanding what their weaknesses and what their strengths.
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In my generation, that did not exist.
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The mission was how can you support yourself?
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That was the objective, that was your responsibility.
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Hey, how are you going to support yourself?
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What you like, what you need and what you want is irrelevant.
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Nobody cares.
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That was the way that we lived.
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That was the way that I grew up.
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My wishes were unimportant, were very secondary, so most of us grew up just being responsible and doing what we had to do.
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Many years later, once I did my homework, paid my dues and achieved a few things and felt like I had earned the right to start thinking a little bit about myself.
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Only then did I begin to think about what were the things that I enjoy doing and began to tweak my career, but it took me many years decades, as a matter of fact where it was work, work, responsibilities, obligations and things that I had to do not that I wanted to do.
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Yeah, now, important point, because I'm sure, or actually I know, that you invest in in the community by mentoring and so forth, and I get to go speak to high school students my favorite thing to do to speak to young adults about careers in the construction industry, because that's kind of one of my things.
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But I got to be extra clear and you just said it.
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Like, you can start a business and do all kinds of crazy things and pursue your passion if you're funding it, correct.
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But if someone else is funding it, you need to be independent and carry your own weight.
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I mean, I don't know, that might be a little harsh nowadays, but that's just the way it is.
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Like it's unreasonable for me to expect anybody to fund my whims, right, like entrepreneurship is not, it's not, it's a high risk game and it's a heavy gamble.
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And so if you're going to do it with your, don't be playing with somebody else's money.
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Play with your own money.
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Yeah.
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Many young people do not understand that becoming an entrepreneur and following your dreams has a price tag, comes with a price tag, has a lot of responsibilities attached to them.
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They want their, what they call their.
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They want their cake and eat it too.
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They want somebody.
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They want to follow their dreams and do what they enjoy and find their passion, and they want somebody else to fund it and subsidize it while I still live in my parents home or while they support me and give me money to go out and have fun while I pursue my dreams and eventually find the right opportunities.
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But that that's not the reality.
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The reality is at first you need to figure out how to sustain yourself, how to save some money, how to build some wealth, a nest egg, so that then you can start understanding what it is that you like and take your own risks and, like you said, gamble your own money, because are much more fun and easier when somebody's paying for them than when you're putting your own money at risk.
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Yes, sir, 100% you can be much more creative and much more assertive.
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Of course, we're all smarter and we all have much, much better projections and outcomes on business decisions when we're using somebody else's cash.
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It sounds like you've been on the receiving end of that.
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Yeah, and I've always treated.
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Rarely have I done businesses with investors.
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I dislike it.
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I work very hard to save money, to be frugal, to reinvest in my company so that I could use the capital to grow and to do other things, pursue other interests, because I felt that I could handle other people's money.
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I see it as a much bigger responsibility than most people understand.
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It is not an option for me to lose somebody else's money.
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The only few times that I did raise capital and something didn't go well, I ended up spending years of my life paying them back.
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So, I learned that, hey, if I have partners and investors and it goes wrong, I'm going to pay them anyway, so why have them in the first place?
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Maybe I just figure out how to come up with the money.
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And if you do go the route of perhaps raising money, I highly recommend that you learn the science and become good at whatever it is that you're doing before you risk somebody else's money.
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So learn the business before you raise capital.
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Oh yeah, 100% Sound advice, actually expert advice there.
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Now, knowing that building a business because you've built multiple, knowing that starting a business is a whole hell of a lot of work like way more work than you can even expect At least that's been my experience why, what is it about building businesses that keeps you engaged and continuing to do that?
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I have a little bit of an obsessive, compulsive personality.
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First of all, I need to be doing something.
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Although I tell myself that I want to slow down when I was younger, that I want to slow down when I was younger, even from the beginning of my career, of my entrepreneurship journey, I never wasted spare time.
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This is something I recommend to the younger generations.
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I used the reason why I was able to build things.
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I used every waking moment to work on something.
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Even when I was at the bar or in a restaurant.
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I was with people that I could relate with, that were all so interested in business, in entrepreneurship, in building a career.
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I wasn't just chit-chatting and wasting time.
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I didn't believe in that.
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Is it right or wrong?
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I don't know, but that was my personality.
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I was always interested.
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I didn't do anything that wasn't business related.
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Even what appeared to be time off, I was doing something business related and that helped me.
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That gave me time to fail so many times.
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Yes, because I was always moving forward and I started so young that I had time to fail and start all over.
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So that was part of the trick, that it was very interesting to me and I wanted to succeed.
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It was important to me, but part of what we don't understand we all want to succeed.
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It's very fun to be successful.
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It's fun to have money and to make money and to enjoy the benefits of having a successful career, but it's not fun getting there.
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It's far from fun getting there, and that's something that we all need to understand.
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How bad do you want it?
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How much pain are you willing to endure to win a gold medal?
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This is the secret.
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It's not whether I want to succeed or whether I want to do well with my life or not.
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It's what am I willing to do in exchange?
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What am I willing to put up with in order to get there?
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That's the big question and many people don't answer.
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They just want the results, but they don't sit around and ponder how painful is this and am I willing to put up with it?
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If you answer those questions, if you come up with a little bit of that information upfront and the answer is yes, you have much better chances of succeeding because you set yourself up to a realistic journey as a fantasy island where you expect things to happen quickly and easily.
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Deplane, deplane.
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I remember that.
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Exactly.
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That's how most people envision this.
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Yeah, they think I want to do this.
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And then I've got a product or a service and I told people about it, Like where's everybody at?
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Oh baby, you got some work to do Now in terms of like reality, the reality of starting a business, and you've done it multiple times.
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And so I wonder does it only happen on your first business and what I'm talking about is dealing with failure and rejection, Like after your first business?
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Did you figure out the magic secret to never have to deal with failure and rejection again, or is that it continues?
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That's an illusion.
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Failure never stops Failure, or at least short term failure.
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Yes.
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I've given this definition.
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I don't call it failure, I just call it delayed results.
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And as long as you continue, as long as you don't quit, whatever it is that you're doing, it's not failure, it's just a process.
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If you quit and never try it again and just throw the towel permanently, then it is a failure.
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But if things don't go your way, they're just setbacks, they're just obstacles, because you're going to learn from them and move forward and continue and utilize that information to get it done right eventually.
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So, to answer your question, after decades of being in business and a very tedious and complex journey in the world of entrepreneurship, as of today I still fail.
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I still face headaches and adversity and setbacks.
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I still face headaches and adversity and setbacks.