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Managing Entrepreneurial Anxiety in the Age of AI with Joe Fier

Managing Entrepreneurial Anxiety in the Age of AI with Joe Fier

Released Friday, 31st May 2024
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Managing Entrepreneurial Anxiety in the Age of AI with Joe Fier

Managing Entrepreneurial Anxiety in the Age of AI with Joe Fier

Managing Entrepreneurial Anxiety in the Age of AI with Joe Fier

Managing Entrepreneurial Anxiety in the Age of AI with Joe Fier

Friday, 31st May 2024
Good episode? Give it some love!
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Episode Transcript

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0:00

there's like a common level of uncertainty with a lot of

0:04

entrepreneurs, including myself. There's some anxiety, there's some panic.

0:09

there's a losing of focus of what we think we do best

0:14

slash where we want to go with our businesses or whatever.

0:19

Impact we want to give and. I think this is leading to a point where, I don't know.

0:26

I think a lot of us are adjusting or trying to kind of

0:29

re adjust what we're doing in the why behind what we're doing.

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help you deliver for your customers.

2:05

. Hey, what's happened in y'all this episode.

2:07

I want to talk about what's alive and real, like not with only

2:10

myself, but also what I'm hearing from a lot of entrepreneurs.

2:14

So I just, I just held a mastermind at genius network.

2:17

That's Joe Polish's headquarters in Arizona.

2:20

Where he runs his, his, what is it?

2:22

$25,000 mastermind is a hundred K is a hundred

2:26

thousand dollar mastermind. That's where he holds in since.

2:28

Is epic place. If you ever get the opportunity to go there or even join genius

2:32

network, I highly recommend it. what I did is I held a mastermind workshop with Mike canids my

2:39

partner on the AI side of things.

2:41

It's where we're teaching business owners, how to essentially scale

2:46

what they're doing with themselves productivity wise, but their team.

2:49

And then also scale what they're doing in their marketing, their

2:52

media, and ultimately their business to be a leader in their industry.

2:56

And it's been really, really cool. I enjoy doing it.

2:59

It's what I kind of naturally do when I work with people anyway.

3:02

And that's what we talked about a lot in the show. What I'm realizing is that there's like a common level

3:08

of uncertainty with a lot of entrepreneurs, including myself.

3:13

There's some anxiety, there's some panic.

3:16

there's a losing of focus of what we think we do best

3:21

slash where we want to go with our businesses or whatever.

3:25

Impact we want to give and. I think this is leading to a point where, I don't know.

3:33

I think a lot of us are adjusting or trying to kind of

3:35

re adjust what we're doing in the why behind what we're doing.

3:39

So I wanted to talk about exactly that in this episode

3:43

and give you some insights of how I'm thinking about things.

3:46

What I heard in that room of 50.

3:49

Or so people all day long, it was like a nine to 9:00

3:52

AM to 6:00 PM thing session.

3:55

I mean, like Joe Polish was in there the whole time.

3:58

There was a great interview with him and Mike, I facilitated that

4:01

along with all these other people in the room, very high level.

4:05

entrepreneurs and it's a very similar thing

4:08

that's been talked about. And so.

4:11

Let me relate it first to the podcast.

4:14

We just released on a Tuesday, a couple of a couple days ago

4:17

with Tom burns on the show.

4:19

And we talked a lot about real estate and passive

4:23

investing or passive, Income.

4:25

You know, growing financial wealth, which is you're going to see as a

4:28

common thing on this show, because personally that's where I've been

4:32

thinking is recalibrating away from the doing to earn to more

4:36

of the passive wealth building. And there's a lot of ways to go about it.

4:40

And real estate is one of them. You're going to hear about some other concepts that I'll

4:44

bring on in the future as well. And I figured it was time for me to just kind of like give you a status

4:50

update of where things are and, and, it's kind of like an amalgamation.

4:55

Is that the word? And bringing everything together of what I'm, I'm kind

4:58

of hearing and experiencing.

5:01

And so Tom burns, if you didn't listen to that episode, go do it.

5:04

He's awesome. Great guy. Tons of wisdom.

5:08

He was a doctor that earned. You know, Dr.

5:10

Wages like really, really good earnings.

5:13

And I've had a couple other doctors doing the similar thing where

5:15

they reach a point in their life where they're just dissatisfied.

5:18

They're not. They're not fulfilled for whatever reason, you know, the north star.

5:24

whatever reason that got him into being a doctor.

5:26

It shifted or maybe it wasn't aligned in the first

5:29

place, you know, and that's kind of like the under. Our overarching thing here is like, what's your north star?

5:34

Do you know it? Do you know where you're headed and why you're doing what you're doing?

5:39

And Tom realized he's dissatisfied or he was as a doctor and he

5:44

transitioned what he was doing. he, he basically got into real estate.

5:49

He saw what was possible there and how that fed a lifestyle for him.

5:54

That was a lot more satisfying. You. It's family time with family was a big thing.

5:58

It still is for him. And there's a lot of other benefits, you know, tax advantages,

6:04

wealth building for real estate. So we're not going to go down that path, but the big aha moment

6:09

was like, Hey, here's a guy who was a doctor that spent a

6:12

lot of time to become a doctor and earned a lot of money.

6:15

But there was a shift. There was this point where he, he just knew some, there

6:18

was a disconnect and he needed to make the change.

6:21

And he did. this goes to the concept of.

6:26

Rich dad, poor dad, Robert Kiyosaki's book.

6:28

That was the first book I read before I got

6:31

into working for myself. When I was starting things out with Matt Wolfe.

6:36

And, you know, I've talked about it before that the purple book that

6:39

changed everything from like this business, or sorry, this employee

6:43

mindset dollar per hour to then, you know, business owner, but ultimately

6:47

to the investor where you are now able to invest in earn that way.

6:53

Financial freedom happens when you're earning more like that

6:57

passively than your expenses. And that's the holy grail.

7:00

Right? So. But how do you get there?

7:02

How do you get there in what you're doing right now?

7:06

are, are there things to shift is the path that you're on right now?

7:10

Going to allow you to get to that point, or are you going

7:13

to be burning out with your time for dollars kind of thing?

7:17

And not say it's a bad thing. Some people like it, but I'm, I'm, I'm sure that you can sh.

7:22

You know, adjust things depending on, what your bigger goals are.

7:25

So what are your bigger goals? I mean, just think about what that looks like and just know that, you

7:31

know, Tom did this shift, I've done some shifts over the years, and

7:34

a lot of other folks I've had on the show, I've done these tweaks

7:38

to get to a point where they are aligned with whatever the north

7:42

star is, but also align that to what they're doing in the day to day.

7:46

So for me, you know, I'm doing a lot on the podcast.

7:48

I'm doing a lot on consulting with folks.

7:51

Like I mentioned, And it's, it's good.

7:53

It's great. I have a lot of fun yet.

7:55

I know it's a, not a forever thing, at least on the dollar per hour

7:59

consulting thing, for instance, I know there's a bigger why for me,

8:03

it's family, it's time with family. It's also the impact I can give to others, which I love this podcast.

8:08

It has this network effect. And you'll see topics change on here over the years.

8:12

Like it's happened already. But then like, I want to like the elephant in the room here

8:17

is I think technology and AI and all these things are changing

8:22

so fast where there's a common thing I've noticed in myself, in

8:27

my partners, in the people I'm working with, you know, clients.

8:32

And also in that room I was at at genius network just on Saturday

8:36

is like, there's this interesting anxiety, this almost panic mode

8:40

that is starting to happen often.

8:43

If you, if you notice it, if you're getting real with yourself

8:46

and if you're real with others, there's honestly, there's.

8:50

There's a lot of folks that are confused and I think now is a

8:53

really, really, really good time for all of us to audit what is going on.

8:58

Like what's going on in your current reality.

9:02

And like, how are you feeling about your business, but also

9:05

just the state of things? Like, how are you planning for the future?

9:09

I know it's tough. Because technology is rapidly changing and, you know, just with

9:13

chat GPT, FORO rolling out what a few weeks ago, or a couple of weeks

9:17

ago at the time of this recording. That's probably opened your eyes to a lot of possibilities of what's to

9:23

come in just mere weeks and months.

9:26

That can revolutionize so many industries, but also kill a

9:30

lot of businesses that started up in the last couple of

9:33

years or so with AI or even. have been around in the past because things will start to get automated.

9:40

So it's like this wake up call, I feel like is happening, but

9:43

it's like subtly happening and not totally talked about.

9:46

Hey I'm going to pause the episode really fast and shoutout

9:49

another show that's on the podcast network over at HubSpot.

9:53

It's the audio destination for business professionals.

9:56

This is Mistakes That Made Me, it's hosted by Eman Ismail

10:01

She is interviewing successful business owners and talking about,

10:05

Hey, what are those mistakes? What are the failures? What are the things that you hate to talk about

10:09

that we can all learn from? I mean, like with piano it's do you like to talk about your mistakes?

10:14

Probably not. Well, that's what she's talking about and it's going to be there.

10:17

It is there waiting for you to listen, so you can learn from

10:20

those lessons and learn how to get past them or navigate

10:24

around those big boulders on your own journey to success.

10:28

So, Go listen to Mistakes That Made Me wherever you get your podcasts.

10:32

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Again, that's hustle and flowchart.com/k a R T R a.

11:20

I suggest to pay attention to what's happening in terms of technology

11:25

rolling out, you know, like. Be on top of the news, go follow my boy, Matt Wolfee.

11:29

I'm going to have him on the podcast very soon.

11:32

I think in two weeks where recording. He's the number one guy to follow in terms of news for AI.

11:37

Just find them out on YouTube. It's the best way to go.

11:40

Matt Wolfe. So. You'll you'll hear a similar sentiment.

11:44

Him and I talk all the time. I just had a call the other night and talked about some of

11:49

this, like, man, there's some crazy stuff that's coming.

11:51

That's kind of unsettling and most people aren't ready for it.

11:55

And that was also what was talked about at genius network.

11:57

You know, at Joe Polish's plays with Mike Koenigs is.

12:00

Like, we're all kind of feeling differently.

12:03

We're acting differently with each other. We're even communicating differently.

12:06

Technology does that to us. It's kind of like smartphones change the way that we all

12:10

communicate with each other. We don't really have these personal connections so much.

12:14

So. We're feeling disconnected and I feel that way.

12:19

Occasionally is. As well, often actually, you know, and like, I think a lot of us.

12:25

Might be feeling that way, but maybe we're not totally

12:28

communicating or noticing it, but know that like, There's a

12:32

lot of folks that right now feel.

12:34

A little confused. And if you're one of those people, it's totally cool.

12:38

It's okay. But it's time to do some about, and I think this is where you need to

12:42

audit and get real with yourself.

12:45

Pen to paper, go on a walk, go ramble on a phone

12:48

or something, but like, Start questioning.

12:52

Why are you doing things? Like what are you working towards?

12:55

Is it aligned with what you really want?

12:58

Or are you just doing it for some short-term thing?

13:02

Think about where you want to take things. So, you know, Tom talked about real estate.

13:06

Well, that's a vehicle that you can use as leverage.

13:08

It takes time. It's not overnight, but like maybe that's something you

13:12

want to start in process. That is something I'm doing here personally.

13:16

And a few other things for, for a kind of wealth,

13:19

alternative investing. So. one of the things I'll leave you here is with Joe Polish, he has this

13:25

saying that's an elf elf business.

13:27

He loves elf businesses and to do stuff that are

13:30

easy, lucrative, and fun. So maybe that's the mental model here that you can kind of

13:37

do your audit through is like, Are things that you're doing.

13:40

Are they easy? Are they lucrative?

13:42

Are they actually making money for you? And are they fun?

13:45

Because that's, I'm starting to check myself a

13:48

lot on all walks of life.

13:50

I'm what I'm doing here, including the podcast, the people I'm working

13:54

with, the partners I'm working with. my, you know, is it all aligned with this north star?

13:59

Which means it's family is a big piece, especially

14:01

in this season of my life. Is what I'm doing now to, you know, to further them in the experiences

14:08

I want to give my family. Is what I'm doing.

14:11

Easy, lucrative, and fun. And if it's not.

14:14

Should I am I, should I continue doing it?

14:17

Should you continue doing. Those things because.

14:21

Let's be honest. I mean, life is short and we only have one of them as far as I know,

14:26

but you know, who knows, maybe there's previous future lifetimes.

14:29

Jury's out. I haven't, I haven't experiences or maybe I have, I don't remember him.

14:33

Point is the point, the, the stuff we control here on this

14:38

plane, where we're at now. do you feel like you want to kill yourself in the process?

14:44

I mean, like. And I don't say that as a pun.

14:47

I mean, my father took his life and, and I know it's a thing

14:52

that's on the rise as well. There's a lot of.

14:56

I don't know the stats right now, but entrepreneurship.

14:58

I know there's a lot of folks who feel very pressured to like,

15:02

they put a lot on their backs. You might be feeling that way where, you work really hard because

15:08

you're trying to serve something.

15:10

Someone get to a goal, but like, if it doesn't shake out

15:13

or if it doesn't work out. Or if something like AI or technology totally takes over

15:19

the industry that you're in, or maybe eliminates what you do.

15:23

Because this is a very common thing I hear in conversations

15:25

with clients is like, man, chatty P T is going to take my job.

15:29

Well, Maybe a variation or a part of it, but also, you

15:33

know, the more you learn and the more you structure and.

15:37

You know, maybe leverage technology or go deeper on a specific niche.

15:42

Within, you know, the, the tech.

15:44

That someone else can't serve with a community, like is a good hint.

15:49

then, then, it's just a time to start thinking

15:52

about all this stuff and. I think of the pressures, the mental health side of, of the

15:58

impacts of what this time it can be for, for not only myself, but for

16:03

others around me, I'm seeing it. And this is what I wanted to communicate in.

16:07

More or less put in your mind and use it as a mental model

16:12

that you can now go on a walk or maybe you're already on there,

16:15

or do a drive and start to.

16:17

Start to think about these things, but more than that, get out of

16:21

your head and put it on paper or use a tool like the Oasis.

16:26

I've said it before. And I've I say it often, but like use a tool that captures your,

16:31

your thoughts, the things that are swirling around that might drive you

16:34

nuts, or maybe you haven't totally formed an action plan with it.

16:39

pin to papers, grape. That's the classic way gets you to slow down your thoughts.

16:44

And I recommend it. And then secondary is to use an app like the Oasis cast magic

16:51

also has a variation of that app.

16:54

Where you can whip out your phone and talk right into it.

16:58

And it's going to capture your thoughts. So you can a capture your thoughts, but then B you have outputs on

17:05

what to do with those thoughts, you know, like structures

17:08

them into a format for you. So. That's what I got as I just dropped something on the floor.

17:15

go, go ahead and go do your thing and, go out at yourself, go on that,

17:19

walk on that drive and start to think about what is your north star?

17:23

Is it, are you aligned with that? North star would be kind of step two and then what are

17:27

you going to do about it? You know, and, and, and remember the easy, lucrative and fun.

17:32

I think that's. You know, as a core, it sounds maybe pie in the sky.

17:35

Ha. It's possible.

17:39

It's possible. And, and it's up to us to make these changes.

17:42

No one else is going to do it. And in a world that's rapidly changing.

17:47

We got to do it now before, because we can't keep up with it.

17:49

Like. As human we're simpletons.

17:52

Now, you know, the, the AI is way smarter or at least

17:55

way quicker than we are. So, control what you can control inside yourself.

18:00

All right. On that note. reach out to me.

18:03

If you have any questions at all, [email protected]

18:07

and also go to hustleandflowchart.com/onething.

18:12

O N E thing. And just tell me what you want to learn.

18:15

I'm constantly looking at that. My team is as well and plucking different little ideas for

18:20

us to make episodes around. And also please go and leave a review.

18:26

I want to hear what you're thinking on, whatever channel you're on,

18:29

whatever you're listening to or watching this podcast, go leave

18:33

a review and hit subscribe, but more or less hit that, or,

18:36

you know, I want to see the review and see your feedback.

18:38

So, I'll be looking out there. Thank you so much for listening and watching us at ya.

18:44

I will catch you next time. Leave that in. Why not?

18:47

Tongue tied at the end. Alright. All right. See, y'all.

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