The entrepreneurship path involves so many aspects and being crystal clear on what your client needs.
In today’s episode of the Tom Ferry Podcast Experience, Carey Ransom, founder, and president of OC4 Venture Studio, joins me to talk about what entrepreneurial traits and skills entrepreneurs need to succeed.
Carey is a technology entrepreneur, investor, and advisor who focuses on early-stage companies in Southern California. Through OC4 Venture Studio, they provide capital and embed their top-tier operators into the startup alongside the founders to build a strong foundation for scaling, with a product that delights its users.
We talk about the difference between a side hustle and a business, having an open mind to create new plays that work for your business and the necessary steps you have to take to promote and encourage entrepreneurship!
If you’re going to start your business or looking for ways to grow it, then I recommend you take notes! This episode is filled with golden nuggets on how to take your business to the next level and really zoom in on what areas of focus your business needs!
In this episode we talk about…
1:58 – Carey Ransom shares how he loves to help others build their businesses
6:47 – What makes a good founder? Listen to find out!
10:06 – These are the mistakes to avoid when giving your business pitch
21:22 – Maybe you should start a side hustle that can ultimately create a breakthrough in the long run!
24:55 – It’s going to be really hard if you just start with $0 when starting a full-time business
29:20 – Are you clear in your customer needs and does your business have legal help?
32:30 – Always be on the lookout for new plays to implement in your business
35:53 – How the financial crisis of 2008 impacted startups still to this day
37:55 – “I see a renaissance on the horizon.”
40:44 – Why the next big wave will be created by the collective intelligence of people
42:26 – “The education system of today is built on a manufacturing economy… we’ve been pushing manufacturing out of this country for decades.”
45:28 – Why imagining “the complete opposite” might help you resolve a challenge
53:45 – Steps being taken to promote and encourage entrepreneurship
55:27 – Carey’s advice for prospective company founders
56:44 – The importance of seeking mentors who are further down the path you want to travel
58:30 – A valuable reality Mike Vance taught Tom: It’s hard to get the lesson from an experience you’re not having
1:03:07 – “Give a huge amount of value to the world, and you’ll live a great life.”