How to Spot Billion-Dollar Opportunities | Marc Lore (Archived Episode)
Tom Bilyeu's Impact Theory
Navigating Entrepreneurial Obstacles
This chapter focuses on the common challenges faced by aspiring entrepreneurs, particularly the distractions of boredom and the need for execution over mere ideas. It underscores the significance of adaptability, objective decision-making, and cultivating empathy within leadership to foster a positive organizational culture. The discussion further emphasizes the importance of a clear vision, core values, and the role of personal connections in successfully raising capital.
On this episode of Impact Theory with Tom Bilyeu, serial entrepreneur and multi-billionaire Marc Lore explains how to raise capital when you are just starting out, how to hire and lead employees, and how to make progress towards your goals no matter what you are right now.
SHOW NOTES:
Marc credits his attitude of “billions or body bags” with his success [2:26]
Tom and Marc discuss having your back against the wall and being aggressive [5:16]
Marc hires self-motivated people and then makes sure he doesn’t micromanage them [7:55]
Marc looks for traits instead of experience for start-up companies [8:58]
Never ask a question in an interview that someone could have prepared for [10:52]
People who went to really good schools have a hard time taking risk [14:15]
Marc shares the story of applying to a business school he had almost no chance at [15:48]
Marc never accepts that something is impossible unless it literally has a 0% probability [18:48]
Marc believes that you are born and raised with some traits, but most can be developed [20:19]
Marc focuses on caring, kindness and empathy when raising his kids [22:27]
When Marc was a kid he was quite entrepreneurial, and got into stocks at 10 years old [23:26]
Marc talks about why his first investors were willing to take a risk on him [26:21]
Tom and Marc discuss how to help someone build desire [27:48]
Marc explains how he deals with doubters [31:04]
Great execution is better than great ideas [33:35]
The way to deal with failure is not to dwell on it, but be objective about progress [35:49]
People want to be understood, and empathy is the most important leadership quality [37:23]
Entrepreneurs should be thinking about vision, capital and people over 80% of the time [39:18]
For core values to be core, there have to be 3 or less [41:29]
Marc shows how he raised money in the beginning [43:18]
Marc shares the impact he wants to have on the world [46:23]
[Original air date: 7-14-20]
CHECK OUT OUR SPONSORS:
Range Rover: Explore the Range Rover Sport at https://landroverUSA.com
Miro: Bring your teams to Miro’s revolutionary Innovation Workspace and be faster from idea to outcome at https://miro.com.
Legal Zoom: Launch, run, and protect your business at https://www.legalzoom.com/ – use promo code 'IMPACT' for 10% off!
Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact
FOLLOW MARC:
TWITTER: https://bit.ly/2PJmaXU
What's up, everybody? It's Tom Bilyeu here:
If you want my help...
- STARTING a business: join me here at ZERO TO FOUNDER
- SCALING a business: see if you qualify here.
Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.
If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu’s Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you.
Join me live on my Twitch stream. I'm live daily from 6:30 to 8:30 am PT at www.twitch.tv/tombilyeu
LISTEN TO IMPACT THEORY AD FREE + BONUS EPISODES on APPLE PODCASTS: apple.co/impacttheory
FOLLOW TOM:
Instagram: https://www.instagram.com/tombilyeu/
Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en
Twitter: https://twitter.com/tombilyeu
YouTube: https://www.youtube.com/@TomBilyeu
Learn more about your ad choices. Visit megaphone.fm/adchoices
Remember Everything You Learn from Podcasts
