Our guest for today is Michael James Reid. Mike Reid is co-founder and director of Dent Global, a training and advisory company that runs business accelerators for the founders of 6-7 figure revenue service firms. He started his journey quite early and By the age of 26, Mike was consistently running highly successful large-scale promotional campaigns – generating tens of millions of dollars of new business. Dent operates in 4 cities, has a team of 50+ people and has acquired businesses in web
development, video production and publishing to form a full-service strategy and implementation group for entrepreneurs. Mike is now helping lead the next wave of Dent’s expansion into Toronto, Canada. He is a 30-year-old successful entrepreneur.
Alright, let’s dive into this. So Mike, tell us what do you do? , and how did you start your entrepreneurial journey?
Sure. So I run a training and advisory company called Dent Global, and, you know, what that means is we run business accelerated programs for traditional service-based small business owners. I mean, you imagine, Manuj, what technology accelerator does, in fact, I’m actually sitting in DMZ technology accelerator in Toronto, at the moment. What they do is that they provide access to mentorship and guidance, best practice and tools and resources, great supplies and networks, all these things. Ten years ago when we launched Dent, we saw that they were the traditional service companies out there who were great at what they do but they needed to know how to leverage technology, build their brand and they didn’t have many environments that they get into which would be a high-performance environment that would help them project manage the growth of their business. So we launched our accelerator specializing in working with those traditional service companies and teaching them how they can differentiate themselves, and their brand, get better communicating their value propositions through their pitch, learning how to unpack their intellectual property, and formulize in into technology or intellectual property asset, and ultimately leverage their business that they can grow and scale it. So for 10 years, we have been doing that in Australia and U.K, little communities in Singapore, little communities in Tampa, Florida as well. We have worked with 3000 founders through that process of the 12-month accelerator and we bring together an amazing faculty of mentors that we work with, peer group and online resources, credibility, the structure almost kinda things. So I have landed in Toronto to set that up here in, this year in 2019.
That’s great, welcome to Canada.
Yeah, thank you. How I got here two stories- Both a love story and a business story, I feel that it’s a great reason to change countries.
Yeah. I agree. There is always a woman behind a successful man, I must say.I mean, I won’t lie, I moved to Canada just because of that reason.
Oh yeah? Your wife’s a Canadian?
Yeah. Great. Very cool. We have to share stories about that later on.
Sure. Sure. Alright. Let’s talk about this cool concept that you preach that is ‘Being a key person of influence’. So what is that all about?
So Flagship Accelerator Program is called the key person of influence accelerator, the premise of what that means is that you’ll notice, in any industry, there is always a circle of people who are the most known, liked and trusted people, and they tend to attract the best opportunities, they get to be more interesting projects. They earn more money. They have more fun. And the reason why they are on that inner circle of their industries is not necessarily because they have better technical skills that everyone else in the industry. It’s not the functional skills that separate them as leaders within their industries, it’s more of what we call the vital skills. And from my perspective we define those skills into five core areas, which is, those key people of influence, what we noticed was, they are very good at communicating what they do through their pitch. If someone asks you the question of what you do, the key person of influence has a very powerful way of answering that question. And often they can communicate more in two minutes than someone else in an hour’s conversation. They are really clear on their value. They are very clear about how to communicate that. The second thing that we noticed was, that these key people of influence had a lot of folk leadership, a lot of insights about their industries and they weren’t afraid to share it. And they did very well as they learned to take their ideas and their insights and formalize them into published content. And whether that be they wrote a lot of content articles, things like that, to share their insights share their ideas, within many cases, they actually wrote a book about their area of expertise and that book helped position them as an authority in their field. And as a result, that attract a lot more opportunities, a lot more inbound opportunity, more interest in what they do, because of that, because of that tool that helped them leverage their message. So they did, they did publishing very well as the second component. But thirdly, they also realized that if they were to scale their businesses, the scale what they did outside of just them, they’d have to find ways to package for intellectual property and product ties their IP, so they had the ability to, you know, stop just trading time for money or, or stop them being the bottleneck from value delivery. So technology businesses is an example of, you know, like, just really taking intellectual property and converting it into technology. And that allows that IP and those ideas to be delivered at scale, that value proposition to be delivered at scale. A service business can find ways to product eyes, their intellectual properties so that the founder doesn’t necessarily have to be the only person showing up and delivering what they do. So for example, in you know, business, there are five principles behind becoming a key person of influence. And rather than me showing up having to be the only person delivering that we actually bring together experts to a specialist and each of those areas, and they become the people that helped deliver our training, so frees me up to focus on, you know, growth and scaling business. The fourth area what these key people of influence also realized was if we’re going to become more known and recognized, we need to build more of a profile. So they were good at building a social profile online. In many cases, they were good at getting into traditional media. And then the fifth area was they would collaborate with other key people in their industry to form partnerships and joint ventures and alliances and things like that. And those things, help them really leverage their brand and leverage their influence. So what we discovered what it was those five things when they come together that really help move someone towards the inner circle of their industry and, and be seen and recognized as that key person of influence.
That’s awesome. So that’s what you call, I guess, the five P’s of key persona influence.
And, you know, what we’ve found is, I think if you’re in business, and if you’re an entrepreneur, the focus is really difficult, it is afflicted by the bright, shiny object, syndrome of what have ideas and lots of new things we could be doing. What we’ve discovered is that, you know, like, all fit, like a lot of things in business, in life, having periods of intense focus around a particular thing can be really beneficial. But depending on what kind of goal you’re looking to achieve at that one point in time, and you know, becoming a key person of influence in your industry isn’t the only element to grow and scale a business. It’s one important aspect, we believe, yeah. But it’s, you know, growing and scaling business requires lots of different things. But, the benefit we found for me, or for our clients is that you know, when you kind of get that focus of, hey, if there are just five main areas, I’m going to really double down on the next 12 months. Yeah, it makes me awesome.
So is this possible? To, you know, is it possible for a new entrepreneur, or maybe somebody who hasn’t even launched their company yet to become a key person of influence? Or does it have to be that they are in business? They’re flourishing already, and they want to go to the next level?
So two-part question. One is, the, the idea of becoming a key person of influence implies that you’ve got enough raw material of insights and expertise to be able to do a better job at the packaging and scaling those insights. So you can’t scale anything that’s broken, to begin with. So if something’s broken, if you don’t, if you don’t have enough experience, in any industry, if you don’t have enough insight into the industry insight into the customer problems, you know, where you can actually deliver, you know, really, like deliver great value to people in the first place, you need to demonstrate and prove that first. And then once you’ve proven you can demonstrate great value, then you can scale that value through the way you choose to position yourself in your industry. You know, there are ways to hack that process, so you can fast track it. And, you know, one of the most powerful ways to fast track it is by who you associate with. So, you know, as an example, for me arriving in Canada, I arrived in Canada in February this year, and to launch a chapter for the business here. And I don’t know anyone, no network, no, no, nothing apart from my girlfriends. I was the only person I knew in Toronto. And in the past, you know, five or six months, I’ve gotten to know some of the most influential leaders, entrepreneurs in and around Toronto, and I’ve been invited to, you know, exclusive invite-only events and dinners and all sorts of different things by starting to establish that network. And part of how I’ve approached that is really by looking at all of these people as potential partners for our business. And, and so the way we deliver our program is like I said, we bring together some very amazing entrepreneurs who come and deliver the training and so, you know,
One of the things I did when I first arrived in Toronto was I created a hit list of who are the 30, or 40, or 50 entrepreneurs that I wanted to reach out to connect with, in fact, you were actually on that list. That’s, I think, how we originally Oh, really, that’s how we originally got connected. And, and so I created that heat list. And then what I did was I recorded a little personalized video for each of those people saying, you know, hey, hey, Jenny, my name is Mike. I’m from Australia, I’ve just arrived in Toronto. I was interested in connecting with you from what I saw on your LinkedIn or whatever it is. For these reasons, let me give you a bit of background I’ve been running a training advisory company called NR Brighton a few cities around the world, Baba Baba. And, you know, I have interested your expertise, because I thought potentially you may be a great fit for someone to come in and teach and train our clients. So I’m on the lookout for speakers and things like that, would you be open to a conversation and so you know, those reach outs created a lot of cut-through where, you know, if you mentioned someone on LinkedIn gets spammed all day long, but all of a sudden, they get a little personalized video with my face on there, just for them, then that immediately gets cut through. So that was a way that I started to, you know, connect him with some of the more influential, you know, entrepreneurs around Toronto. And you know, whether or not that conversation led to a speaking engagement or not. was it wasn’t isn’t an entirely different thing. But it opens the door did allow me to have a conversation. And from that conversation, you can develop relationships, that person might connect you with someone else. And then, you know, because that influential person connected you with someone else who’s influential, all of a sudden, you’ve got established authority and credibility. Yeah, that’s great. So you know, I think so, I’m probably a good case in point that I wasn’t, I am not a key person of influence in Canada, because I’ve arrived with no reputation, low brand, but in a short space of time, you know, we’ve been able to bring on some really influential people into our business by leveraging the power of partnership.
That’s great. Alright, so let’s start, you know, exploring these five P’s a little bit more in details, let’s start with the pitch. So, you know, this is where, you know, a lot of people get sort of confused. And messaging is very important. And the words are very important. So how do you take something which is undefined and sort of, you know, chaotic, and doesn’t make sense and come up with a concise pitch that will resonate with the audience.
So what we’ve distilled or discovered over the years is that we’ve worked with a lot of very influential people around developing a structure or a framework of how to communicate how to pitch. One of our original pitching mentors was a guy called Mike Harris, who Mike built three multibillion-pound companies in the UK, he started a credit card, and he started one of the world’s first internet-only banks. And Mike was a fantastic, amazing salesperson pitcher, you can really communicate powerful ideas, and he was pitching, you know, huge deals and opportunities all of his career. And, and so between him and I have another very guy who sold his company for $15 million in Australia run a software company called solve it software, shoulder to Schneider Electric. And he’s he was an amazing pitcher as well. And so just distill these frameworks. And what we realized was, there was actually probably eight steps, there were eight components to a really amazing pitch. We call this pitch the capstone pitch. Because Capstone is an acronym for each of these eight steps. Would you like me just to share what each of those?
So the first step is clarity. If someone asks you the question, what do you do? The mistake a lot of entrepreneurs make is they try and invent fancy terminology to describe what they do, or they try and differentiate themselves too soon. But the problem for the listener is they don’t actually understand what you do in the first place. Yeah, so the very first step of a pitch is you need to establish, hey, let me help the listener, the audience put you into a box or a category. So I at least know what general genre you’re in. And when I know what genre you’re in, then I can focus in on what makes you special and unique and credible and valuable, all those kind of things. So the first steps, clarity, the second step is the authority. So when someone asked the question, what do you do? And you can deliver clarity? The next like, question we’re asking, in our mind, whether or not someone’s aware of it is, okay, why I should believe you, like help me see why you’ve got an authority to talk on what you do. So this is where it’s important for an entrepreneur to, you know, to highlight their experience and highlight their expertise or highlight their track record. So things like, you know, who have you been associated with in the past? You know, what, what kind of how many clients have you worked with in the past? What sort of results have you got, in the past quantify those things? Have you won any awards? Have you ever been featured in any media? These are all things that help build your authority and credibility in the eyes of the listener. So you need to name drop a few of those things to give some context around, hey, this is what I do. But this is why it’s also incredible. Yeah, the third step, and maybe I’ll just cover the first four, because it’s a, it’s a long, it’s a long process. But the third step is the problem. And so soon, as you’ve established what you do, why you’re credible, what kind of the next thing is okay, will help me understand what problems can you dress will help solve. And, and so, this is where, you know, we have a saying, with our clients, that having a PhD and your customers problems, is, you know, really vital for you being able to then communicate them back to them in their own words, in the way they need to hear them in such a way they can see that you really understand them better than they even understand themselves. And when you can communicate in that way, and you can really talk to, you know, what the problem is the implication of those problems, the impact it may have on them, you know, really like hit the hot buttons and the pain points of understanding like you can show them you can empathize, I’m sure them you understand what’s going on in their world in and the impact that’s having on them in such a way that it’s like, yeah, this he really gets my greatest, you know, fears and challenges when it comes to whatever it is that you know, I’ve got going on, if you’re talking to the talking to someone who’s your perfect target audiences and example, yeah. The fourth step is, is being able to present a compelling solution, a compelling bridge between the problem someone’s experiencing and, and an idea we call the prize.
seminars, you know, if you imagine when, when someone’s, you know, afflicted by, let’s say, let’s say you’ve got a business owner, who’s just spending hours and hours and admin, you know, every, every day of the week, and they’re trying to get the books done. And they, the books aren’t their skill set at all a strong suit. And so they’re spending all this inefficient time trying to figure out the numbers and get the books done, and reconcile them blah, blah, blah, and it’s causing all sorts of headache and grief. And, and so what do they want? On the other side of that? Well, you know, let’s imagine the prize, in that case, is, you know, effort, effortless, effortless, effortless, effortless numbers, or effortless, bookkeeping, effortless accounting. And, and it’s like, Could someone come in and wave a magic wand? And just give me effortless accounting in my business? Yeah, I like that person, I’d love to have that. And so when you can identify what’s the prize, what’s the source, then that becomes the center point by which you build your value proposition solution, the way communicate the solution around delivering upon that outcome? Yes, that business owner doesn’t care about accounting, they care about what’s the outcome, the prize that I then, and how can you actually show them, you can deliver that prize in a really, you know, efficient and effective way. And so the fourth step is about how you communicate that solution. So they’re just four components of a compelling pitch, as you can hear, there’s, there’s a bit to it. But what we what we’ve discovered with many of our clients is that when you familiar with the framework, you then have a really powerful structure for having any conversation with whether it’s a prospect or giving a talk, or whatever it may be, you can kind of see each of those stages as different, you know, stages of the conversation, it’s not about getting up and just pitching in front of a group, it’s about how do you have a really compelling conversation?
Yeah, that’s great. A very intriguing, and really comprehensive framework, I would love to, you know, maybe in another conversation, learn about the rest of the status. But let’s continue on, you brought up a very interesting one, which is published. So you know, I’ve heard this a number of times, but there are different types of medium that people can use. You mentioned book articles. So what is the best way to get out there and publish yourself and, you know, share the knowledge that you have inside of your mind?
Hmm, so there are a few different tiers, I suppose, of creating a quality of published content. So, you know, publishing on your own blog is the baseline, you know, bottom of the food chain, kind of published content you can put out there or publish on LinkedIn, or whatever it may be, like, they’re all great channels to use. But, you know, it’s hotter and hotter, as you I’m sure, you know, to get organic reach and through any of those mediums. So the quality of your quality of what you write is, is obviously the ticket to the game, if you know, put out to put out shit, you’re going to get shipped back. But, but But yeah, so that’s your earned media is one way to publish, kind of a next rung up the food chain is if you can publish through earned media through someone else’s media, someone who already has an audience already has a product form, and then you know, collaborate with them, because by association with their platform that gives your content more credibility and authority. And it obviously allows you to get out to a much wider audience because you can leverage off other people’s audience. And that’s what we see is like, the third or kind of the top rung of the food chain in publishing is when you can produce a book. You know, for many people, they may see a book, as, you know, do people still read books nowadays, and, you know, I really understand some of the concerns that someone has around, you know, books and maybe old fashioned and they’re not, they’re not red anymore, and they’re a dying medium and all these kind of different things. But, and look, I can, I can understand that. But what we’ve discovered now after working with 3000, founders, and we’ve had 1000 of them become published authors in their industry, is that writing a book is a very powerful way to communicate or 40, around an area of expertise, a subject matter ma space. And it also indicates to people that you’ve spent enough time really contemplating this, this area, this issue, this, you know, this topic, to actually produce a book on it, because it’s not easy to produce a book that requires a lot of effort and insight and, you know, really kind of effort to get it done. And so what that does is when you can go into a meeting, and you can put a book on the table, all of a sudden, that communicates the quality and the credibility behind what you do in a different way. But it also packages your insights into a format that is more valuable in the eyes of your reader or listener. So if I give you a book about our principles, you would perceive that to be far more interesting and valuable than if I send you an article or something online. So that just the value of that is perceived is now received as a gift, more so than just hey, here’s an article. Yeah. And when you can use that to leverage relationships, you can use that to leverage into existing networks, then that’s where it becomes very powerful. So as an example, what many of our clients find is that the book helps them break into a relationship they never would have otherwise got, whether that be intermedia, whether that be into a potential partnership. And the way they use the book is as a tool to help them, you know, spread the message about what they do. So they may offer, you know, a whole bunch of books or a couple of boxes of books to a partner to give away to their clients. Gifting a book to their clients, all of a sudden, that makes that partner look really good in the eyes of their clients. But it also takes your message, your message your ideas in a format, and gives it to someone else where they receive it, and all of a sudden, they like, oh, this is a valuable gift to me, you know, as an entirely different perception. So when they read it that far more impacted by what you have to say. And so, you know, it’s one thing for us, it is by far and away from the most powerful way to communicate your ideas. And if you think about it, logically, it makes a lot of sense, you know, the challenge, and the difficulty in producing a book is direct, you know, inversely proportional to the, to the, you know, the results, I suppose, right, and maybe, maybe some invest, but it’s proportional to the results. So, you know, if something’s really difficult to do in life, and few people do it, then it’s typically a valuable thing to do. That’s great. That’s,
I mean, I’m blown away by the insight you’re sharing. So thanks a lot for that. Now, continuing on with that, that topic, you have an astonishing collection of publication. So can you tell us a little bit about that?
So I, it’s kind of me to say that, I don’t personally have an astonishing collection of publications. But my business partner, Daniel priestly, and our company does have an astonishing amount of publication. So Daniel, who likes been in business with for the last 10 years, when we co-founded dent, he’s written for best selling books. And each of these books is designed to help an entrepreneur to navigate a particular stage of the entrepreneur journey. And what we’ve discovered is that the entrepreneur journey is a lot more predictable than most people think. I think when you’re in your own business you get so close to it, that you lose perspective on the fact that, you know, the problems you’re solving have been solved before. And they’ve probably been solved many times before. And there’s been many entrepreneurs who’ve been through very similar challenges. We also lose perspective on the fact that there are particular stages of business, which are just inherently difficult and hard. And then you get to certain scales, and certain levels of business where it gets a lot more profitable and a lot more enjoyable. And then as you break through that particular level of scale, you get to another stage, and then it gets really difficult and really hard again. So, you know, what we’ve realized is that you know, from a zero to zero to about, you know, 10 to 15 million, there are four distinct stages in the entrepreneur journey. Would it be helpful for me to share what we see? Yeah, for sure. Yeah. So the four distinct stages. The first stage we call, follow the very, very first I just start off, which is, you know, hopes and dreams and enthusiasm and, you know, lots of excitement. And, you know, and then what happens very quickly as that fades, and then, and then we get stuck in this phase called the wilderness. And we call it the wilderness of business, because it’s like, imagine you’re wandering through the wilderness, trying to, you know, and figure out how this whole thing works. You’re really trying to understand, like, who is my customer? And like, what problems are we actually solving? How do we actually really solve? How do we how are we going to get customers? Like, we’ve got a few, but how are we going to do that repeatedly?
I’m laughing because I’m right there, I can relate to that, because I’m in that was enough, either, right now.
And we need to, you know, find, you know, find a team to help us do that, and then create some systems around how we manage that. And, you know, so you’re doing, you’re doing lots of things for the first time and you’re not rinsing repeating, you’re just like figuring it all out, trying to piece it all together. So, you know, it’s up, it’s down, it’s like a roller coaster of emotions in that wilderness phase. And, you know, the reality is, statistically, most businesses in Canada or Australia or the UK, about 70, to 75% of businesses are doing less than half a million dollars in revenue. And, in we call that less than half a million, the wilderness phase because you know, you don’t, you don’t have enough, you’re not big enough yet, to really have a big team around, you’re much of a team around you. So you’re still doing a lot of things yourself, and you’re still doing a lot of functional things yourself. And you know, any cash you get kind of gets quickly chewed up in new growth or making mistakes, so doing things through trial and error. So there’s this sort of awkward phase, to begin with, we call the wilderness and then what happens between about half a million to 2 million in revenue roughly, is there’s there are two phases within that you can either be what we call a struggling boutique, or you can be a lifestyle, boutique, struggling boutique means that often you see a business that may be doing like good revenue, they might be doing seven figures, they got a million bucks in revenue. But let’s say they’ve got, you know, 10 people on the team. So how does that business feel? Yeah, it feels like hard work and struggle. And there’s because there’s not a lot of profit leftover because it’s all been chewed up in inefficiencies in people. And it’s not very systemized, there’s not a lot of intellectual property that’s driving value creation, it’s, it’s human beings, human sweat having to deliver the value. And so what needs to happen for that kind of businesses, they need to really develop their intellectual property assets, they need to formalize you know, how they acquire a client into digitized assets, they need to take their key ideas and key kind of educational content and package that into ways that can allow that message to spread without them. And you know, better systems for delivering and all that kind of thing. So that they can start to either increase revenue per person or, you know, reduce the number of people to bring revenue per person in the business back to a good level. And when you can take revenue per person up to like 200, grand revenue per person, that’s where you move into what we call a lifestyle business, where it’s, it’s fun, it’s profitable, there’s a key person of influence leading it from the front, you’ve got really great systems and formalized IP, and all of it looks great, up until about 2 million. And then in about 2,000,012 people, what tends to happen is that for it to the 13th person starts to unravel. Because when you get to sort of 13, to 14 to 16, to 20, you know, you all of a sudden, you’ve got a lot more complexity. So you know, when you’re a small band of rebels before, now there’s a whole bunch of complexity, and you need new infrastructure, new systems to manage that complexity, you need to invest heavily in that infrastructure, you need to grow the team, you need to grow revenue at the same time to be able to catch up. And so that next phase for about two to 10, we call the desert. And the desert, too much more harsh, much harsher environment in the wilderness. You know, it’s like you can wander through the wilderness a bit last for years or even decades, but in the desert, you’re going to very quickly, you know, die if you don’t have a good game plan to be able to move through. And so often businesses, you know, need to, they need to raise some capital and maybe move through the desert, or they might need to raise a bit of money or they need to come in with some resources, to begin with, and have a real game plan as to how we’re going to get through it, the desert is the thing that can lead to divorces, and, you know, and, and heart attacks, and you know, all sorts of things, it’s a difficult phase of growth, to be able to move through that. And it really requires you to kind of go all-in on the US, you know, it’s no longer about having a great lifestyle, it’s like, but all in trying to grow this to get to a level where now we’ve got a big enough team where maybe there are 30 plus people on the team, maybe we’re doing 10 million in revenue. And, and we’re at a stage where we’re, we’re attractive for acquisition, you know, where we’re no longer a small business, we’re big enough business where an even bigger business can come on gobbling us up and, and they can invest their resources and their talent into growing it to another level. So those four distinct stages of wilderness, lifestyle boutique or struggling boutique, the desert, and then what we call performance is, is what we see, you know, the entrepreneur journey looking like and like I said, it’s, it’s a lot more predictable, and obviously, with knowing that you can kind of know, what are the problems that need stages, and therefore, what are the solutions as well?
That’s great. Well, thank you so much for painting that vivid picture. And, you know, I just felt like I was on an actual journeying going through the wilderness and into the desert. Now, I know we are running out of time, but I would like to continue the discussion. Maybe we can record another episode. But you know, you have amazing insights and right on point for our audience. So maybe, you know, we’ll cut it short here. But before I let you go, can you tell us anything else that I haven’t asked that you wanted to get across? And also tell us about your company? And how people can reach you?
Sure. Well, I mean, maybe I look just to give you if you want to I’m happy to kind of go for another few minutes. If you’re this one, if there’s one more burning question you wanted to ask me, because I don’t want it to be about me, I want it to be about your audience. So you let me know if there’s. if you think is an interesting question that they’d like to know, I’m happy to share.
Um, well, most of the audience, they are in the startup or the wilderness stage. So anything that you want to add to what you’ve already said, in terms of, you know, how, how they can get through that one of the things that I really focus on is positive mindset, and, and the psychology of getting through these tough times as an entrepreneur, so if you have any insights on that, please do share.
Yeah, absolutely. So. So I’m, I’m both an idealist, or an optimist, and a pragmatist at the same time. And, and so the pragmatic side of me, will just, you know, right off the bat, say that entrepreneurship sucks. It’s, it’s hard, you know, it’s, it’s hard, it’s, you spend, you know, a lot of time, up and down, and this kind of roller coaster of emotions, so I can really sort of empathize with anyone that’s going through that, and dealing with those challenges, you know, I’m not exempt from it. And any entrepreneur I made, who is really worth their salt and honest will always say they constantly, you know, you know, in a state of flux, and at the border of chaos and order in their life, you know, you kind of always, like, just bouncing between chaos and order. And I think that’s, that’s true, you know, in life generally, but particularly, if you’re an entrepreneur, you really sort of in this like, constant state of flux in and out of chaos and all that.
So to kind of better manage that, you know, I, I fall back on a few principles that help me help me manage that more effectively. So. So, you know, the principles that come to mind is things like, you know, as warm and fuzzy as this sounds, it’s, it’s love, you know, I think I think love is, is a strong emotion to bring to a lot of aspects of life, not just in relationships with your partner, but it’s a, it’s an important emotion to bring to the way that you choose to connect with other people around you, you know, your, you know, whether that be, you know, people you meet at a networking event, or if it’s people on your team that you’re, you know, coming into help you and your business, or maybe it’s a partnership that could be really supportive or beneficial, just, you know, finding ways to, to convey the emotion of gratitude and love towards those people and appreciation, I think, goes a long, long way, in just getting more of what kind of what you need to support you through that stage of the journey, but also sending the right camera and the right vibes out to the universe, because I’m a big believer in, in business and entrepreneurship that, you know, like, we all were just all a collection of people trying to get stuff done and achieve things and achieve the mission and build stuff. And so when you can, you know, approach all of those relationships in the paradigm of like, how can I give, how can I be grateful and really appreciative and find ways to support first and like, really, like, be that emotionally and kind of give that positive emotion out to people to the world, they come back to you, in lots of good ways. So I think that’s critical. I think the other one is thinking about your environment. So we talk a bit about this idea of a high-performance environment. And I use the example of image, you know, Malaysia, I was sitting working away from my kitchen bench, you know, on this new startup and, and they’re like, day and night, 12 hours a day, seven days a week just banging away on my computer trying to get this thing going and you know, I’ve got the floorboards are creaking, and the plasterboards falling off the wall. And it’s, it’s not a very, I wouldn’t call it a high-performance environment. And so what tends to happen to work at the kitchen table, home alone, you know, where we’re, whatever your environment, you will be a reflection of that environment. So you’ll stagnate you’ll lose creativity and driving enthusiast, you’ll start to have that negative self-talk come in. Whereas all of us if I picked, if, you know, someone came along, picked me up, put me in the Google compound, and said, Hey, Mike, this is going to be your office for the next 12 months, just go little cubicle for you here. And just imagine that I was working on that same startup, doing all the same things. But I was now in the Google office. And there were Google people buzzing around me, like having meetings and talking about stuff. And there were whiteboards up with like, kind of cool ideas. And, you know, there were celebrations happening over in this corner. And, you know, people were debating over different philosophy and ideas in business. And then I talked to someone on the water cooler, and that sparked an idea and just by being in that environment, without changing a thing about me, or having any extra help in my business, just being in that high-performance environment, or Lyft. My results. So if you’re an entrepreneur, I want you to think about how do you audit your environment? Am I am I doing everything I can with the resources? I’ve got to put myself into a high-performance environment? What I’d say is that also, you, you know, you need to ask yourself the question, can I afford not to be in a high performance environment as well, it’s often putting yourself into some sort of environment like that, whether it be joining a technology accelerator, like the DMZ that I’m in now, or joining a program like ours, or, you know, going to a co-working space, or joining a network of business owners, you know, it all requires some level of resources. So when I first got to Toronto, one of the first things I did was join a business community and business network, because even though I’m working on, you know, limited capital to get a business established here, I know that that’s a really important resource for me to invest in. So, so yeah, I’d suggest that and then the final thing, I’d say, in terms of just being scrappy, and bootstrapping your business is to, is to pick up the phone, jump on the phone, talk to people have conversations, don’t just sit behind your computer, trying to, you know, tinker with systems and web pages, and all those kind of things to get stuff done. That’s, I know if you’re building a technology company, it’s, you know, you think, okay, that’s where I’ve got to be spending the time. And that’s an important part. But I promise you, you’ve got to really allocate some time to getting out and rubbing shoulders with other entrepreneurs, and people and networks, and because it’s in the relationships, that they’ll connect you with all the resources that, you know, you really need to make this successful. Just remember that, you know, you can’t build a scalable business where, you know, you’re the only person doing things and so finding ways to collaborate finding ways to partner and, and you know, picking up the phone meeting face to face, they’re all important parts of the journey, I think too, to be able to, you know, get a startup moving.
Yeah, those are very valid points. And, you know, just to add to that, your first point about love and emotion and gratitude. You know, I was, a few years ago, I was going through some dark times, and I talked to a therapist, and he explained it to me, you know, the first step is self-love, self-esteem. And the next step is love for others, and gratitude for what you have, and only then you can hope to achieve any professional success without the two underlying pillars, you know, you cannot, you cannot achieve the third one. And to your point about the environment, you know, I have a small office in my home, which got cluttered over time, and I had, you know, lots of equipment and everything. And, yeah, I mean, I feel I can feel the loss of creativity and enthusiasm. So that’s why I’m, I’m shifting, and this is my son’s bedroom right now. So, you know, it’s much cleaner, and I find it much more sort of, conducive to what I’m doing. And, yeah, these are still very valid points and, and talking to other people, rubbing shoulders with influential people. I think that’s, that’s why I started the podcast, you know, even though I’m not on the phone, but just interacting with people and learning from their experiences, it has given me much more positive energy through the day. Yeah, so those are such valid points, and I feel them every day in my life. Thanks.
It’s a pleasure. And you know, you this is a great example, right? It’s, you know, even creating a podcast, I’ve created podcasts of my own and, and that, you know, that, that journey of doing that, and having that it’s just another way to LA to build better relationships with, you know, a more diverse range of people. And I just kind of emphasize it enough. And I really believe that whether you are a technology company, or whether you’re a traditional service business, you will always achieve far, far more, you know, with other people than you will on your own. And it’s kind of the analogy of imagine I said, hey, what, you know, measuring, he said to me, Look, I’m, I’m going to run out into the basketball field on the basketball court. And, you know, I’m going to play by myself for now. But you know what, when I score a few goals, then I’ll have you know, score a few points, then I’ll, then I’ll get a team, I’ll start to get some people on my team. And if I said that to you most, what would you say to me?
Well, that’s great.
Yeah, crazy talker, I like, I’m never going to score a point in the first place. Because I’m never going to have a chance to get past the five other guys that are, you know, going to surround me. So you know, in businesses, the same thing, you always want to figure out how do I surround, get creative, get scrappy, get, you know, kind of work your hustle muscle to how do I surround myself with a team in inverted commas of people around me who were supporting each other, we’re collaborating with finding ways to add value to each other as well even you know, even in the early days, and, and that’s, that’s a great way to kind of embody that philosophy of you always want to start with the team. That’s awesome.
That’s great. Awesome. So yeah, I mean, this has been the longest interview so far in this podcast. And, Phil, we have so much to talk about. So I definitely want to, you know, leave the room open for another episode with you. But in the meantime, please do share your company website and how people can meet you.
Yeah, sure. So. So thanks, Melissa. It’s been really enjoyable for me too. And, and so look, there are a few different ways you can get in touch with what we do at Dent Global, just googling dent global is probably a simple and easy way. But what I’d suggest is there a whole range of tools that we have, whether it be the pitching framework that I talked about a little bit earlier on, we have an amazing tool called the capstone pitch Canvas, which actually helps you to unpack your pitch inside this campus. And we’ve got a copy of the key person of influence book, which actually talks about the principles that we’ve been talking about, too. So if someone wants to email me, just send an email to email@example.com, as dent.global, and I’d be happy to share those resources with anyone that sends me an email. So if you want to include them in the show notes, or whatever it is, or if you just want to anyone, so I’ll pass those things on.
Yeah, we’ll definitely include it in the show notes. So thanks a lot for your generosity there. That’s what I’m yeah. All right. Great. Thank you so much for being with us today and sharing so much.
I’m glad to be here. Thanks for having me. Thanks.
Links & Mentions From This Episode:
- Mike’s Website: https://mikejamesreid.com/
- TetraNoodle consulting services: https://go.tetranoodle.com/boot-podcast
- TetraNoodle professional training: https://courses.tetranoodle.com