Millionaire Mindcast The Journey To Hell And Back Led Him Out $1.7 Million In Debt And Unlocked Massive Wealth | Anik Singal
In this episode of the Millionaire Mindcast, we have a stellar guest, Anik Singal who shares tips and insights on how to get back from failures, how to build an amazing culture within the organization, how to bring new perfect team members, and the good thing about failures!
Anik Singal is the Founder and CEO of Lurn, Inc. He has trained over 300,000 entrepreneurs all over the World and recognized as one of the World's Top Entrepreneurship coaches. His mission is to empower more than 1,000,000 Entrepreneurs through his new Lurn Nation platform.
The BusinessWeek recognized him in the Top 3 of the Best U.S. Entrepreneurs Under 25. He’s an Inc500 CEO, listed 2-times among the Fastest Growing Companies in America. Anik is also incredibly passionate about giving back for nearly two decades. Planning to scale his mission globally, all through his non-profit organization, For All Our Good.
Anik came from a family of doctors with no background in entrepreneurship. He was supposed to be in a medical field but felt like it was not a good thing for him, hence, switched to business school and pursued in business.
But just like any other entrepreneurs, Anik experiences ups and downs. On the third time around, he still manages to stand-up with over a million in debts. Closing off all his offices, and reducing his 96 members down to 6.
Patience is a virtue. This time, Anik figured out things on himself and on his business. He knows this is part of the process of being an entrepreneur. Therefore, he strives hard to start again and pay all his debts. How did he do it?
Basically, Anik feels bored in the system but he injected people that enjoyed it and mold an amazing team. He serves as a consultant in his own company. Teaching his team members hard and helping them grow. Besides, Anik let his team members grow intellectually and figured out things by themselves. He wanted to empower each team member separately. Right or wrong doesn’t matter to him. He is all about the end results.
Through building a great culture, creates a collaborative and conducive environment for growth. As a result, doubling his company this year. But with all his achievements, he wouldn’t want to call it ‘lucky’ because he puts in all the hard work for this!
Some Questions I Ask:
- Where did your entrepreneurial journey begin at the early stages? (02:19)
- How did you handle those times of boredom and how did you manage to get to that next level? (16:19)
- What are some of the core values and characteristics that you have to see in your candidates to ensure they feel aligned with the core values and skill sets that are needed for your brand? (30:13)
- What is wealth meant to Anik? (41:09)
- What’s kind of your portfolio in building and protecting the wealth that you’ve created? (47:310)
In This Episode, You Will Learn:
- Failure as part of the process of being an entrepreneur (02:46)
- Key lessons that Anik have learned during his down moments (09:32)
- Hard truths about entrepreneurs (17:23)
- How to find people and the right team members (20:50)
- Leadership by Absence – what’s this concept all about (23:02)
- The Quiet: The Culture Index (30:46)
- Deductive person versus Inductive person (32:43)
- The real purpose of Tax Code (49:19)
Quotes:
- “Entrepreneurship’s not about risk, it’s not about gang slinging at all, it’s more about being strategic than anything in your life.”
- “I am a consultant in my company and I’m not an employee in my company.”
- “What’s wrong with losing a few thousand bucks back to back on five ideas and on the sixth one you make multi-millions?”
- “It’s not about the money, it’s about the impact that can make.”
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