[smart_track_player url="http://traffic.libsyn.com/dukesofstartuppodcast/DSP_002.mp3" artist="The Dukes of Startup Podcast" image="http://www.dukesofstartup.com/wp-content/uploads/2015/06/DUKES-logo-Podcast-1400x14002-e1434680554385.png" ]
Episode 002 Show Notes
What was your motivation to push through hard times?
Entrepreneurship is hard for everybody. Ryan talks about vision being his anchor when going through hard times. Developing your business vision around your personal vision will help you make correct decisions along the way. For example, Ryan knew that he wanted to sell PC Care Support so that he would have more time to focus on his charity work (insert link). This allowed him to focus on getting key leaders in place, over time so that the business wasn’t dependent on him, and he could make a clean exit.
Speaking of vision, how do you know what yours should be? Ryan says that everybody is different, but “you have to have a lot more in the tank than money motivation.” He gets a lot of motivation from his work at UVU Center for Entrepreneurship, where he mentors the next generation of business leaders.
“You have to know the end goal from the beginning because the end goal will help you to make all the right decisions along the way.” – Ryan Westwood - Tweet That!
What is the mentality of success?
You are ultimately responsible for your results, but leaders also need to be super aware of the team around them. Use the resources around you. Identify talent and get people on board that are smarter than you are in different areas. Be sure to recognize your team!
What were your fears along the way and how did you respond to them?
Ryan started out in Corporate America, afraid to go out on his own. But if to move forward, we work to overcome our fears. Ryan overcame his fear by shadowing two great leaders. The first was Michael Proper at a company called DirectPointe, and the other was Scott Johnson from Attask.
There are always risks in entrepreneurship. The fear of possibly losing everything is a common theme among those who step out on their own. Ryan responded to this fear by living very frugally. He planned for the future and created financial safety for his family by saving. When the time came to go full time at his own business, he had built the financial runway to be able to do it on his own.
"I'm about to go two years with no income. Am I OK with this? That takes some cajones and some preparation." - Ryan Westwood
Ryan also granted himself some extra experience before he started his own full-time business. He started an art supplies vending machine business on the side, while continuing at his corporate job. The experience of doing this side business gave him an extra boost before he went out on his own with PC Care Support.
There are going to be hard times in the beginning, and they can seem daunting, but those times are essential to your overall success. Because Ryan has been through some extremely hard times, challenges don't look very scary. His biggest challenge now is learning how to think bigger.
What is Risk?
Ryan has a very high threshold for risk. His advice:
"Think of the worst case scenario and decide if you are OK with it. If you are OK with it then do it, and I was OK with it." -Ryan Westwood
Think about it: What is the worst that could happen? For Ryan, the worst would be that he would struggle for a few years, then go back to Corporate America and be behind financially by a couple of years. On the other hand, what is the best case scenario? Ryan says, "The business grows like gangbusters and I am 20 years ahead financially." Worth it? YES.
Reasons that Entrepreneurs Are Successful:
Vision.
Resilience. Do you have the grit to go and smile to family, friends and team when you know that you might bounce payroll?
Work Ethic
Passion. If you have the passion, you will stick with it.
