Episode Transcript
[00:00:01] Hi, I'm Stephen Edwards, and I am the author of how to build a business that runs without you. I'm also the founder and the director of CTA profit First Accountants. So the book is really about people looking to build a business that's not just reliant on them.
[00:00:20] I was definitely inspired from the business e myth early on, which is how can we build that holy grail of a business, the systems dependent and not people dependent.
[00:00:32] So I learned a lot along the way, and it took me a good few years to get to the point in 2023 where I could literally sort of take a month out of the business and everything ran pretty much itself with the team and the systems I built. It doesn't mean everything's perfect.
[00:00:52] I think as we grow personally, as we grow as business owners, we still deal with challenges. We kind of deal with bigger challenges, but we kind of earn the right to deal with those bigger challenges.
[00:01:05] There's definitely lessons along the way. So in this episode, I want to talk specifically about the foundations of my system, which is the entrepreneurial freedom system. There's nine main steps in the system, and you can go back to the previous episode, episode two, to learn a little bit more about the steps. But I want to talk about something that's kind of a hidden step. It's really step zero.
[00:01:33] It's really that iceberg underneath the sea in terms of everything else. And it's your mindset specifically, although I also do talk about your health and well being, which I think is heavily connected. So I just really want to touch base on an area that most business owners don't really give much intention to even. There's a lot more out there in the world nowadays with social media. In terms of mental health, I still think not enough business owners focus on the mindset, the health and the well being. So I'm not really going to dive too much into the health and the mental health and that sort of stuff. It's really about a successful mindset that's really putting in the right foundations for you to build a successful business, because it all starts in your own mind. If you don't plant the right seeds and have the right intentions and have the right vision, it's going to be very difficult to build that business that can run without you. So I've come up with a sort of concept which I call living life in 3D. There's three things that I think are super important to be successful. And by the way, what does successful mean? It means different things to different people. My definition is it's having a worthy goal or worthy pursuit that you are aiming for personally and succeeding. So that's the thing. Success means different things to different people. But if you have goals and you have a vision, then my 3d model, I feel, is super helpful and super relevant in most cases. So the first D, when it comes to a successful mindset and the steps you need to take on that journey, is a desire. So when you think about it, all starts with a thought, and that thought is really a desire to want to do something. If you think about people who start in a business, it's going to start with a desire, but it's a bit more than a thought. So a thought is something that just crosses your mind and you might consider it. A desire is you actually think, this is something I'd like to do. So it's quite a powerful thought. So I think it starts with a desire. Certainly in my case, at the beginning, I had that desire to want to build a business that's super important. Or it could be a desire to achieve whatever goal you want to achieve. You start with that desire. The next step that starts building a bit of momentum and building strength, building muscle, is the desire turns into a determination.
[00:04:20] And the difference with this is it's no longer this thing that's stuck in your head.
[00:04:26] It's not something you'd like to do, it's something you have to do.
[00:04:32] It's that simple. It's a difference between something I'd like to do, it's a desire you'd like to do, and you intentionally sort of admit that to yourself. But it turns into a determination, something you have to do. It goes from a must, from a should to a must. Tony Robbins would say, and really what that means is you've made the decision, you have made the decision that you are going to do that thing. So it's way more powerful than desire. It's a determination. You are determined to do that thing, to aim towards that particular goal or vision you have. And finally, and this completes everything, because this is still not enough to follow through and to get the result. The final one is the discipline. The discipline.
[00:05:19] If you think of Sony wants to go to the gym and get in super shape, they might start the desire thinking, I'd like to go to the gym, I'd really like to go to the gym. And they might think about it once a year in January, and at some point, actually, that becomes a determination. And they're fed up with setting that as an annual goal, not following through. And they are determined to get in shape, a switch is flicked. They've made that decision, and then you've got to follow through. The discipline is putting the work in. It's showing up at the gym so many times a week, putting the effort in, building the muscle. And it's the same with building a business.
[00:05:58] You need those three ingredients. And don't get me wrong, there's lots of nuances and there's loads of things I'm going to touch about, to talk about in this episode and future episodes. But for me, that kind of summarizes top level, the 3d living life in three d, I call it, which is how to be successful. But some things I'd like to talk about is having a belief. So really, this comes again down to that determination, having that belief in yourself, that it is possible. A lot of people don't allow themselves to believe something is possible before they even start a business.
[00:06:34] And they have believed they can achieve something, and they don't really build that positivity, that momentum to make it work. So having belief is super successful. If you look at sports stars, they don't get onto the football pitch doubting themselves. Sometimes they do when things are not going their way. A striker would not be performing if they are not confident and they think they're going to not score before they get on the pitch. But when they're playing well and everything they touch goes into the back of the net, then they have that belief and they have that confidence. And it's the same with anything, particularly running a business. You need to have a bit of belief and confidence in yourself. And really, that's having a can do attitude. One of the things that served me where I was looking at other people with success, and there was a burning feeling inside that said, I can do that. I can do that too.
[00:07:26] And that wouldn't go away.
[00:07:29] I told myself often that that is something I can do, and I still get it now with lots of things in my life. And if you get that feeling that you can do something when you see someone else doing it, there's something there. There is definitely something there. Something is telling you, your intuition, your subconscious, your body, that this is something you should explore. And actually, what I found, particularly when it comes to business, if you think of my employer, before I started my job, my own business, sorry, it started as, I can do that. And it transitioned into I can do that better. I had my own ideas and I believed, I honestly believed I had a better way of doing things. And that's why most people, a lot of people start a business, particularly the successful ones, having that positivity. Don't let the news bring you down. Don't let the economy bring you down.
[00:08:25] I'm not saying be oblivious to it, be aware. But don't kind of indulge in that self perpetuating cycle of the doom and gloom. Try and feed yourself positive things. Listen to positive podcasts. Be around positive people. There's two types of people in life. There's energizers or radiators and drainers. Be around as many radiators as you can. You will feel whether you get energized being around those people, as opposed to people that kind of suck your energy. So try and find the positive environments inside and outside your house as much as you can. Something that's quite helpful for that is to have a positive focus. So every day, just jot down any wins, any gains, anything you've done. Wow. Any momentum. It could be little things. It could be I've walked the dog, it could be I've been to the gym. For me, it's. I've been to the gym, I've been to the sauna, I've had an amazing meal. But their kind of personal positive focus things. But also consider your business.
[00:09:25] I've had that important meeting with that new prospect. I've had that meeting with an important client. I've had that conversation with my team. I've developed that new process or that new system. I've done that TikTok video, whatever that means for you, just find the wins and that will help you build momentum. And finally, I'd like to finish on being around, firstly like minded people. That definitely helps. So once you start trying to push the boundaries, some people won't be thinking like you. So if you can surround yourselves with like minded people that want to be successful, that's definitely going to help you get there quicker.
[00:10:05] And then also being around people that are more successful than you, because that's going to give you some inspiration, encouragement of what's possible. Sony's a little bit further along.
[00:10:14] Sometimes a lot further along can help because it can inspire you what's possible. But certainly Sony's a bit further along who can be a bit of a mentor, a coach, a friend. Just being around these people will make a big difference. So that's some of my tips around mindset. We will sort of delve into the health and the well being and the mental side in future episodes. But that's me for now. Thanks, guys. And reach out if you've got any questions. And have a good weekend.
[00:10:42] Bye.
