Episode 433: No Time to Waste – 7 Things I Quit to Go from Broke to Millionaire

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Overcoming barriers and achieving substantial financial milestones requires more than just good intentions. With over 99% of UK businesses unable to break through the £10 million revenue barrier, significant changes in habits and mindset are imperative for those seeking to ascend the ladder of success.

In this episode, Adam Stott dives into the 7 transformative actions necessary for achieving significant business growth and success. He shares his personal journey from a struggling entrepreneur to a successful business leader and outlines seven crucial strategies for achieving business breakthroughs. Adam emphasizes the importance of surrounding yourself with successful individuals, the necessity of sacrifices, and the power of shifting from short-term to long-term strategic thinking.

Show Highlights:

• Surround yourself with individuals who have achieved more than you to receive better guidance and new perspectives.
• Engage in environments that foster growth and success, minimizing time spent in non-empowering social situations.
• Embrace a student mindset to continually learn and grow from those more experienced.
• Prioritize skill development over immediate monetary gain for sustained success.
• Long-term strategic thinking and commitment are essential for significant business success.

Links Mentioned:

Get your Business Growth Secrets SUCCESS PLANNER for FREE and profit like a pro: https://adamstottplanner.com/free-book47315172

Adam’s website: https://adamstott.com/?el=Pod

Watch the Episode on Adam’s YouTube Channel: https://www.youtube.com/adamstottcoach?el=Pod

Connect with Adam on Instagram: https://www.instagram.com/adamstottcoach/?el=Pod

Join Adam’s network on LinkedIn: https://www.linkedin.com/in/adam-stott-coach/?el=Pod

Coaches, consultants, and business owners – lower your marketing costs, increase ticket prices, and get more high-ticket clients: https://3daybrandbuilderworkshop.com/start-here?el=Pod

Transcript:

Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.

Adam Stott: Here’s the brutal truth. If you keep doing what you’ve been doing, you’ll keep getting what you’ve been getting. And frankly, for most businesses in the UK, that’s nowhere less than 1% of businesses ever breakthrough the 10 million pound barrier and only 9% breakthrough a million. I used to be broke, stuck, frustrated, and struggle every single day in business until I quit.

[00:00:33] These seven things that we are gonna cover now in this video, these changes didn’t just change my life. They literally saved it. And these seven things, if you wanna start winning and you wanna start winning big, stick around. ’cause this could be the most important 10 minutes of your life. Number one, if you wanna be more successful in business and you want to get bigger up better results, you wanna be one of those million pound companies or 10 million pound companies, you gotta stop listening to people that are less successful than you.

[00:01:04] This is one of the biggest mistakes that people make. Yes, your mom, your dad, your brother, your sister, your nan. They love you. They’ve not run a 10 million pound business or a million pound business. They can’t advise you. And this happens all the time with business owners. They go and they’re talking to people that don’t understand the right moves to do.

[00:01:24] Or even worse, they’re hiring people then asking the people that they’re hiring for advice. If you do this, you end up stuck. You gotta be a leader. You’ve gotta look upwards and you’ve gotta find people that are playing at higher level than you, rather than listening to people that are less successful than you.

[00:01:41] And that is rule number one. Hey everyone, hope you’re enjoying the podcast. We’ve got a free training that I’m doing right now online from the comfort of your own home called Stand Out Brand. What this does is it shows business owners how to get noticed on social media, stand out. Get more leads and get more sales.

[00:02:00] So if you want to make more money in your business, head over to adam.com/sob. That’s adam.com/sob and join us on the free three-day workshop, standout brand rule number two, if you wanna win and you wanna win big, then there’s gotta be some sacrifice. If you are currently going out. Partying all the time.

[00:02:25] You are going out drinking that kills the brain cells, stop partying, stop drinking, and actually stop social situations that don’t empower you. Let’s dive into that a little bit. If you are going out with your friends around the pub and all you’re doing is you’re sitting there and you’re talking about the football and all these kind of things.

[00:02:43] Then that is not gonna empower you to start building businesses. Get yourself into circles and environments where people are talking about winning, they’re talking about business, they’re talking about making money. And that’s one of the big mistakes that I made in the beginning. I used to feel obligated to go out on a Saturday or a Sunday and hang out with people that didn’t wanna win just because I’ve grown up with ’em and they’re great people.

[00:03:03] But the bottom line is, if you want to get great results, you’ve gotta be around great people. So stop. Going out in those social circles that are not lifting you up, you still remain friends, but you don’t have to hang out with eight hours with people that are not empowering you. The second thing is just make sure that that drinking it stops.

[00:03:20] It does nothing good for you. It takes you off your game. So get rid of that. Stop the partying and start stepping into your success. Rule number three, stop comparing, start submitting, which is like, what do you mean by that, Adam? Well, the first thing that happens is a lot of the time you can see someone that’s more successful than you, and it’s human emotion and human nature that that can create some jealousy, that can create some envy.

[00:03:45] And you can start to look at that person. You can start to think, well, they only got this because of that and they only did this, and you know, I didn’t get that opportunity. And you can really start to create some bad language. That doesn’t help you to get better results. So instead of looking at someone and saying, why have they got this?

[00:04:01] And I haven’t, stop comparing with them, realize that they’re a bit further along the journey and actually submit to being the student. This has been something that’s really, really empowered me across my journey when I’m around people that are more successful. I literally remember that I have two ears.

[00:04:19] I have one mouth. I listen. I ask good questions. I’m curious, and I’ll try to find out why is it that they’ve been able to do this stuff? Rather than being envious or jealous, I actually start to admire what they’ve done and I submit myself to being the student in that environment. In fact, I think that you should walk through life.

[00:04:36] As a student in every type of place that you can be, you know, learn from other people, whether they’re really successful. Learn from people, if they’re really skillful. They don’t have to be super skillful, but they’re better at something that you want to get great at. Start listening to them because if you are the student, you can learn a lot more and it changes the frame of reference, which allows you to get much, much faster results.

[00:04:57] So stop comparing, start submitting number four, saying you’re gonna do it later. Saying, I’ll do that someday. Someday. Leads to nowhere where. That day is not going to come. If you wanna do it, do it now. When’s the best time to plant a tree? You’ve heard this before 20 years ago. When’s the second best time?

[00:05:17] It’s right now. So when would now be a good time to start living your dreams? You gotta take the action. And this is one thing that I’ve learned on my journey, uh, which I’ll share with you the moment you have a thought. The faster you take the action on the thought, the more likely you are to hold it in your hand.

[00:05:35] So start turning thoughts into income with fast execution and speed of implementation. Number five, quit short-term thinking. This is something I’ve trained thousands and thousands of business owners over the years, helping ’em to build businesses from, you know, startup businesses, helping ’em start easier.

[00:05:54] Growing businesses to help ’em grow faster and scale safer, you know? And literally we have created tens and tens of millions of pounds in the marketplace. One thing that I’ve noticed with so many entrepreneurs is they have this like magic wand issue. They want one thing that they wave over their business that changes everything.

[00:06:13] And it would be beautiful if business got done like that, but it just doesn’t work like that. How it works instead is you build a strategy. And you stay committed to the strategy and you put the hard work and the execution in, you remain strategic and you keep moving towards your goals. What you can accomplish in a business over a year, over two years, over three years, can be beyond your wildest dreams, but you ain’t gonna make a million pound in a month.

[00:06:40] So you’ve gotta have that. Patience and you gotta be in it for the long game. My first business, which I grew to 40 million pounds in sales, took me a decade. My events training business, I started in 2016. So I stayed committed to these particular businesses and drove the result home and my mentality, continuous improvement, stopped thinking you’re gonna achieve miracles in a week, a month, even a year.

[00:07:04] Get committed, stay on the plan, and you in turn will end up being the victor. So there’s two more really important lessons left and for me, I’ve saved the best two to last. I really have, because these are having trained thousands of business owners, as I’ve mentioned. Two things which I think are absolutely massive when it comes to your success.

[00:07:24] And number six is when you have somebody that thinks they know something. Because they’ve heard it once before. Let’s explore this a little bit, this concept, ’cause it’s super important. And if I say to you, you’ve gotta hang out with successful people, and you go, yeah, I watched out on a YouTube video. I watched out on 10 YouTube videos.

[00:07:41] I read that in a book, but you still ain’t hanging out with successful people. Just because you heard it don’t mean you know it. And I think this happens all the time. People read a book, they think they know the contents of the book, but they haven’t lived it. So you’ve gotta start living it. Stop saying, I know this, I’ve heard this, I’ve done this.

[00:07:58] Because the reality is most people haven’t, unless you have created millions of pounds doing a certain topic again and again, and again, and again and again. You ain’t a business expert. So stop saying you are one. Stop pretending to be one. Instead, submit again to being that student. That’s the best way to be.

[00:08:14] And there’ll be some people that can want to come and put in a comment, you know, oh, you’d say this, but look, I built multiple eight figure businesses, so I’ve walked the walk. You can look it up. I’ve been there, I’ve done it. You know, it doesn’t make me special. It just means I’m somewhere further along the journey.

[00:08:28] And when somebody’s further along the journey, just say to ’em, how do you do it? You know? Pick up these seven things, put ’em into your life, and you’re gonna start seeing big results. So let’s get to number seven now. Number seven is focus on skills over money. Most people don’t ever make loads of money because all they ever focus on is their money.

[00:08:48] When you get green in your eyes and all you’re doing is you’re focused on money all the time, money, money, money, money, money. I need money, money, money, money, money. And people are like this. The problem is, is they’re not creating value and they’re not creating skill because they’re too focused on money.

[00:09:01] If you get zoned in and you focus on, how can I become amazing? How can I maybe become better at this? And you focus on high income generating skills like marketing, like sales, like speaking and these things, and you get really zoned in on them, then all of a sudden you are gonna find that money doesn’t become a problem when you become the person of value.

[00:09:19] Those are my seven things that you need to stop doing to start stepping into your success. Apply those in your life and they can be the difference that starts to make the difference for you. And look, if you need a bit of help, you’re a business. Persona that wants to go all the way to the top and you’re ready to be that student.

[00:09:36] To get the right guidance, to get the right advice. Go over to the description, check out our mastermind program, gold Circle. That’s where we train business owners just like you to go all the way to the top. I’m sure it can really help you. And if you haven’t already. Make sure to subscribe ’cause we’ve got call videos like this coming out every single week.

[00:09:53] Thanks again for watching and if you watch all the way to the end, go and comment a player. I love to see who my A player communities are. Those of you that are taking action, following all the way through. So go and comment an A player for me so I can see you. And I’ll be sure to respond personally, and I look forward to seeing you in person very soon.