we have Julian calling in all right hey I love this well Julian tell us tell us
I love this well Julian tell us tell us
I love this well Julian tell us tell us what you do and give us your question
what you do and give us your question
what you do and give us your question absolutely um so what I do i own a dance
absolutely um so what I do i own a dance
absolutely um so what I do i own a dance studio kind of like evan and we move des
studio kind of like evan and we move des
studio kind of like evan and we move des and fitness right that’s kind of a love
and fitness right that’s kind of a love
and fitness right that’s kind of a love that our motto so excited coughing
that our motto so excited coughing
that our motto so excited coughing assume everyone limitations from no one
assume everyone limitations from no one
assume everyone limitations from no one but recently what I started doing is is
but recently what I started doing is is
but recently what I started doing is is um this blog called sleep sumo calm
um this blog called sleep sumo calm
um this blog called sleep sumo calm right which is pretty much just about
right which is pretty much just about
right which is pretty much just about helping entrepreneurs sleep better
helping entrepreneurs sleep better
helping entrepreneurs sleep better because i think you know i want to
because i think you know i want to
because i think you know i want to business myself you know and i know as
business myself you know and i know as
business myself you know and i know as entrepreneurs is extremely hard to
entrepreneurs is extremely hard to
entrepreneurs is extremely hard to sometimes shut it you know shut it down
sometimes shut it you know shut it down
sometimes shut it you know shut it down right and say the case how it’s time to
right and say the case how it’s time to
right and say the case how it’s time to go to bed we can we can fight tomorrow
go to bed we can we can fight tomorrow
go to bed we can we can fight tomorrow again you know so so anyway that’s the
again you know so so anyway that’s the
again you know so so anyway that’s the blog that’s what it’s about but my
blog that’s what it’s about but my
blog that’s what it’s about but my question to you is when do you know when
question to you is when do you know when
question to you is when do you know when it’s time to kill a product so that you
it’s time to kill a product so that you
it’s time to kill a product so that you making money maybe you have two or three
making money maybe you have two or three
making money maybe you have two or three making money when it’s time to you know
making money when it’s time to you know
making money when it’s time to you know to say you know what enough let’s just
to say you know what enough let’s just
to say you know what enough let’s just focus back on on this versus the two or
focus back on on this versus the two or
focus back on on this versus the two or three that we have I think it’s a great
three that we have I think it’s a great
three that we have I think it’s a great question and I think that the reality is
question and I think that the reality is
question and I think that the reality is the best sanity check is to sit in the
the best sanity check is to sit in the
the best sanity check is to sit in the shoe to the customer and go and you know
shoe to the customer and go and you know
shoe to the customer and go and you know you should have pick up the phone social
you should have pick up the phone social
you should have pick up the phone social media share committee customers you know
media share committee customers you know
media share committee customers you know it comes back to what Evan says what is
it comes back to what Evan says what is
it comes back to what Evan says what is the value that they derive it from your
the value that they derive it from your
the value that they derive it from your product or service how is it changing
product or service how is it changing
product or service how is it changing their lives how’s it creating benefits
their lives how’s it creating benefits
their lives how’s it creating benefits how’s it save enough time how does it
how’s it save enough time how does it
how’s it save enough time how does it make them feel better all those sort of
make them feel better all those sort of
make them feel better all those sort of things you’ll know pretty quickly when
things you’ll know pretty quickly when
things you’ll know pretty quickly when you talk to your customers is it a
you talk to your customers is it a
you talk to your customers is it a product failure issue or idea failure or
product failure issue or idea failure or
product failure issue or idea failure or is it actually if I tweaked it a little
is it actually if I tweaked it a little
is it actually if I tweaked it a little bit I could have the right answer and
bit I could have the right answer and
bit I could have the right answer and and then you know what the great thing
and then you know what the great thing
and then you know what the great thing is if you actually said to the customer
is if you actually said to the customer
is if you actually said to the customer how about if I came back to in 30 days
how about if I came back to in 30 days
how about if I came back to in 30 days time and I tweaked it to do what you’re
time and I tweaked it to do what you’re
time and I tweaked it to do what you’re telling me you need would you be
telling me you need would you be
telling me you need would you be interested and they’re always going to
interested and they’re always going to
interested and they’re always going to say yeah they were always going to bank
say yeah they were always going to bank
say yeah they were always going to bank you cuz also you’ve got a kind of
you cuz also you’ve got a kind of
you cuz also you’ve got a kind of relationship with them so there’s a
relationship with them so there’s a
relationship with them so there’s a great question what I would advocate
great question what I would advocate
great question what I would advocate though is you kind of when you do we’ve
though is you kind of when you do we’ve
though is you kind of when you do we’ve all failed let’s be honest we’ve all
all failed let’s be honest we’ve all
all failed let’s be honest we’ve all felt the entrepreneurs i mentioned i
felt the entrepreneurs i mentioned i
felt the entrepreneurs i mentioned i Richard Branson is coming to save summit
Richard Branson is coming to save summit
Richard Branson is coming to save summit loads of product failures company
loads of product failures company
loads of product failures company failures but you know he is awesome
failures but you know he is awesome
failures but you know he is awesome because he’s done so many projects what
because he’s done so many projects what
because he’s done so many projects what he’s been really smart and he started
he’s been really smart and he started
he’s been really smart and he started initially in music and then he’s got a
initially in music and then he’s got a
initially in music and then he’s got a massive travel company Virgin Atlantic
massive travel company Virgin Atlantic
massive travel company Virgin Atlantic he’s got all these other businesses
he’s got all these other businesses
he’s got all these other businesses Virgin Money what he did really well was
Virgin Money what he did really well was
Virgin Money what he did really well was test the market go out there kill the
test the market go out there kill the
test the market go out there kill the businesses that weren’t going to make it
businesses that weren’t going to make it
businesses that weren’t going to make it and scale up the businesses that were in
and scale up the businesses that were in
and scale up the businesses that were in the price it was and I think you’ve
the price it was and I think you’ve
the price it was and I think you’ve gotta trust your instincts I think
gotta trust your instincts I think
gotta trust your instincts I think there’s a thing Evan says about belief
there’s a thing Evan says about belief
there’s a thing Evan says about belief but as entrepreneurs some days are dark
but as entrepreneurs some days are dark
but as entrepreneurs some days are dark days let’s be honest and you need to
days let’s be honest and you need to
days let’s be honest and you need to kind of give yourself a bit of spiritual
kind of give yourself a bit of spiritual
kind of give yourself a bit of spiritual uplifting and that’s when you go back
uplifting and that’s when you go back
uplifting and that’s when you go back and check in with your customers because
and check in with your customers because
and check in with your customers because you know when you actually talk to your
you know when you actually talk to your
you know when you actually talk to your customers they’re the greatest people on
customers they’re the greatest people on
customers they’re the greatest people on the planet and they they want you to be
the planet and they they want you to be
the planet and they they want you to be successful they’re really rooting for
successful they’re really rooting for
successful they’re really rooting for you so you’ll find out very quickly from
you so you’ll find out very quickly from
you so you’ll find out very quickly from those customer conversations whether
those customer conversations whether
those customer conversations whether it’s a kill or it’s an enhance innovate
it’s a kill or it’s an enhance innovate
it’s a kill or it’s an enhance innovate and adapt Julie Oscar me ah for me would
and adapt Julie Oscar me ah for me would
and adapt Julie Oscar me ah for me would be when you lose your passion in what
be when you lose your passion in what
be when you lose your passion in what you’re doing because the stevens point
you’re doing because the stevens point
you’re doing because the stevens point about talking to people and getting
about talking to people and getting
about talking to people and getting feedback and having to twist your and
feedback and having to twist your and
feedback and having to twist your and tweak your offering when you lose the
tweak your offering when you lose the
tweak your offering when you lose the passion for that project you’re not
passion for that project you’re not
passion for that project you’re not going to be willing to put in the hours
going to be willing to put in the hours
going to be willing to put in the hours anymore you’re not going to be willing
anymore you’re not going to be willing
anymore you’re not going to be willing to modify it and change it and and put
to modify it and change it and and put
to modify it and change it and and put in the work anymore and so if you are
in the work anymore and so if you are
in the work anymore and so if you are though like if you still love this thing
though like if you still love this thing
though like if you still love this thing this is still your baby you’re still
this is still your baby you’re still
this is still your baby you’re still excited about it you know if it’s a good
excited about it you know if it’s a good
excited about it you know if it’s a good dance thing or something else you’re
dance thing or something else you’re
dance thing or something else you’re talking about ah then you’ll find a way
talking about ah then you’ll find a way
talking about ah then you’ll find a way to make it work like with more hustle
to make it work like with more hustle
to make it work like with more hustle you know what you have may not work
you know what you have may not work
you know what you have may not work great yet but with more tweaked and more
great yet but with more tweaked and more
great yet but with more tweaked and more hustle be able to make it work but if
hustle be able to make it work but if
hustle be able to make it work but if you don’t have the passion you’re going
you don’t have the passion you’re going
you don’t have the passion you’re going to quit and so that’s when you give it
to quit and so that’s when you give it
to quit and so that’s when you give it up the flip side as well as their
up the flip side as well as their
up the flip side as well as their entrepreneurs who are making money and
entrepreneurs who are making money and
entrepreneurs who are making money and lose the passion in their business and
lose the passion in their business and
lose the passion in their business and they get bored and that’s how to the
they get bored and that’s how to the
they get bored and that’s how to the time to sell your company right it has
time to sell your company right it has
time to sell your company right it has value if you’re not passion about
value if you’re not passion about
value if you’re not passion about anymore it’s just going to flatline and
anymore it’s just going to flatline and
anymore it’s just going to flatline and then start the decrease and a lot of
then start the decrease and a lot of
then start the decrease and a lot of people think well that’s passive income
people think well that’s passive income
people think well that’s passive income for me so I should keep it but really
for me so I should keep it but really
for me so I should keep it but really the guts of time go sell it move on to
the guts of time go sell it move on to
the guts of time go sell it move on to something else that you are excited
something else that you are excited
something else that you are excited about so for me as long as I’m excited
about so for me as long as I’m excited
about so for me as long as I’m excited by something as long as I believe in it
by something as long as I believe in it
by something as long as I believe in it then I’m doing it if not
then I’m doing it if not
then I’m doing it if not then move on to something else and
then move on to something else and
then move on to something else and everything that you put in has been kind
everything that you put in has been kind
everything that you put in has been kind of sunk costs you’ve grown you’ve
of sunk costs you’ve grown you’ve
of sunk costs you’ve grown you’ve learned you’ve gotten better and now you
learned you’ve gotten better and now you
learned you’ve gotten better and now you know focus on the future awesome so do
know focus on the future awesome so do
know focus on the future awesome so do you do you actually guys write down like
you do you actually guys write down like
you do you actually guys write down like okay this is some of the stuff that I’ve
okay this is some of the stuff that I’ve
okay this is some of the stuff that I’ve learned I’m okay with just deciding that
learned I’m okay with just deciding that
learned I’m okay with just deciding that I’m although I might still be making
I’m although I might still be making
I’m although I might still be making money from it right I feel like it’s not
money from it right I feel like it’s not
money from it right I feel like it’s not necessarily scaling or growing then I’m
necessarily scaling or growing then I’m
necessarily scaling or growing then I’m okay I’m just gonna kind of just a
okay I’m just gonna kind of just a
okay I’m just gonna kind of just a journal this is what I’ve learned from
journal this is what I’ve learned from
journal this is what I’ve learned from it and just put it on the shelf perhaps
it and just put it on the shelf perhaps
it and just put it on the shelf perhaps and just like move on to the next step
and just like move on to the next step
and just like move on to the next step yeah I think there’s a couple of things
yeah I think there’s a couple of things
yeah I think there’s a couple of things in terms of what I say which is a bit
in terms of what I say which is a bit
in terms of what I say which is a bit harsh actually but it’s true there’s
harsh actually but it’s true there’s
harsh actually but it’s true there’s only two types of companies in the world
only two types of companies in the world
only two types of companies in the world two types of businesses there’s growing
two types of businesses there’s growing
two types of businesses there’s growing a successful businesses and there’s
a successful businesses and there’s
a successful businesses and there’s dying businesses the only exception that
dying businesses the only exception that
dying businesses the only exception that is lifestyle businesses and some folks
is lifestyle businesses and some folks
is lifestyle businesses and some folks who might be out there would just say
who might be out there would just say
who might be out there would just say you know I’m happy I’ve got a great work
you know I’m happy I’ve got a great work
you know I’m happy I’ve got a great work life balance I run a lifestyle business
life balance I run a lifestyle business
life balance I run a lifestyle business it kind of flat lines on revenues it
it kind of flat lines on revenues it
it kind of flat lines on revenues it gives me a good lifestyle I play goal
gives me a good lifestyle I play goal
gives me a good lifestyle I play goal for a dance or whatever I want to do
for a dance or whatever I want to do
for a dance or whatever I want to do three days a week and that’s okay but I
three days a week and that’s okay but I
three days a week and that’s okay but I think there’s sort of people the
think there’s sort of people the
think there’s sort of people the entrepreneurs in the world we’ve come
entrepreneurs in the world we’ve come
entrepreneurs in the world we’ve come from and the people who have a big idea
from and the people who have a big idea
from and the people who have a big idea and want to change the world were low to
and want to change the world were low to
and want to change the world were low to passion typically have exponentially
passion typically have exponentially
passion typically have exponentially growing businesses so within that I
growing businesses so within that I
growing businesses so within that I think you could look what you know if
think you could look what you know if
think you could look what you know if you’re down the road of three or four
you’re down the road of three or four
you’re down the road of three or four years you could say actually I’ve got a
years you could say actually I’ve got a
years you could say actually I’ve got a good business I’ll used as a funding
good business I’ll used as a funding
good business I’ll used as a funding vehicle to actually do my big idea and
vehicle to actually do my big idea and
vehicle to actually do my big idea and one of the businesses are actually one
one of the businesses are actually one
one of the businesses are actually one business I’ve invested in a great arm
business I’ve invested in a great arm
business I’ve invested in a great arm business called cloud apps they’ve
business called cloud apps they’ve
business called cloud apps they’ve reinvented themselves three or four
reinvented themselves three or four
reinvented themselves three or four times and they’ve got good customers
times and they’ve got good customers
times and they’ve got good customers they’ve done a good job but they plateau
they’ve done a good job but they plateau
they’ve done a good job but they plateau with one product they use that as a cash
with one product they use that as a cash
with one product they use that as a cash vehicle to fund their next big idea and
vehicle to fund their next big idea and
vehicle to fund their next big idea and they started with sustainability then
they started with sustainability then
they started with sustainability then they started with really cool stuff
they started with really cool stuff
they started with really cool stuff around kind of gaming engagement and
around kind of gaming engagement and
around kind of gaming engagement and then they started I will all the stuff
then they started I will all the stuff
then they started I will all the stuff around a lot of big companies use these
around a lot of big companies use these
around a lot of big companies use these products called customer relationship
products called customer relationship
products called customer relationship management but it’s really hard to get
management but it’s really hard to get
management but it’s really hard to get people to use those so they provided all
people to use those so they provided all
people to use those so they provided all these kind of incentives and gaming and
these kind of incentives and gaming and
these kind of incentives and gaming and fun things to actually really make a lot
fun things to actually really make a lot
fun things to actually really make a lot more fun than them being in the work
more fun than them being in the work
more fun than them being in the work so just as an example i think if you’ve
so just as an example i think if you’ve
so just as an example i think if you’ve got a great product great customers you
got a great product great customers you
got a great product great customers you know double down and go for it but that
know double down and go for it but that
know double down and go for it but that could also spawn the opportunity to have
could also spawn the opportunity to have
could also spawn the opportunity to have other ideas you know like evan said we
other ideas you know like evan said we
other ideas you know like evan said we probably three of us could come up with
probably three of us could come up with
probably three of us could come up with 20 different ideas so let’s pick the
20 different ideas so let’s pick the
20 different ideas so let’s pick the best one let’s start that but you want
best one let’s start that but you want
best one let’s start that but you want to build a company that could do three
to build a company that could do three
to build a company that could do three or four ideas if they’re related ideas
or four ideas if they’re related ideas
or four ideas if they’re related ideas that becomes really powerful in the
that becomes really powerful in the
that becomes really powerful in the venture capital world we would call them
venture capital world we would call them
venture capital world we would call them gazelles those are the high-growth you
gazelles those are the high-growth you
gazelles those are the high-growth you know lots of opportunity going fast and
know lots of opportunity going fast and
know lots of opportunity going fast and then the walking wounded and the walking
then the walking wounded and the walking
then the walking wounded and the walking wounded you just like hobbling along but
wounded you just like hobbling along but
wounded you just like hobbling along but it never actually takes off right and as
it never actually takes off right and as
it never actually takes off right and as long as your focus on that walking
long as your focus on that walking
long as your focus on that walking wounded business you can never be a
wounded business you can never be a
wounded business you can never be a gazelle and so if you’ve learned what
gazelle and so if you’ve learned what
gazelle and so if you’ve learned what you need to learn from it then then shut
you need to learn from it then then shut
you need to learn from it then then shut it down or sell it or give it to
it down or sell it or give it to
it down or sell it or give it to somebody else and focus on the next
somebody else and focus on the next
somebody else and focus on the next thing that you can be a gazelle with
thing that you can be a gazelle with
thing that you can be a gazelle with awesome well thank you so much for
awesome well thank you so much for
awesome well thank you so much for having me alright lexical angeline your
having me alright lexical angeline your
having me alright lexical angeline your lot with move
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