23 Nov 192 | 5 Pillars of a 7-Figure Mindset with Ron Reich
Welcome to episode 192 of Profit Boss® Radio! Today, we’re talking about 7-figure mindsets–what it means to have a solid perspective on not just launching a business or making money, but all things entrepreneurial.
If you’re an entrepreneur, life can feel like an uphill battle, especially as you struggle to carve out your niche, find your place, and build/scale your first seven-figure business. Some may find themselves feeling unfulfilled, struggling to stay motivated, and even feeling consumed by self-loathing when the going gets tough. But that’s not what every entrepreneur experiences, and it’s not what you should, either.
To help us manage these thoughts and challenges, I’m joined by Ron Reich. Ron helps emerging experts build seven-figure businesses, and he’s also my launch coach. He’s a wealth of information, and he’s worked with some incredible names, including Hay House Publishing, Todd Herman, Selena Soo, Denise Duffield-Thomas, and Ryan Levesque–to name just a few.
If you’re ready to stop struggling and finally understand how real entrepreneurs achieve breakthroughs and hit their goals, then this conversation is for you!
The 5 Pillars of a 7-Figure Mindset:
- Believe in yourself because if you don’t, nobody else will.
- How the mindset of an A Player is that they do what is necessary, they understand necessity and they never deviate from that.
- When a 7-figure entrepreneur decides they’re going to create something, they are focused and they remain focused until they achieve the goal.
- Asking for help or reaching out to those who are in a position to help you is not a weakness.
- The value of giving that extra 3% and going the extra mile, even with something as simple as making phone calls yourself to promote an event.
- The power of the “Antifragile” mindset and understanding that what doesn’t kill you only makes you stronger.
- How an A Player is ruthless, relentless and focused on controlling the things that are within their control.
- The difference between leading indicators vs lagging indicators.
- The value in setting aggressive, yet achievable goals. Take action, and stay on the path.
- Why the most successful high achievers are fantastic at implementing.
- Don’t procrastinate and wait until you’re in alignment. The sooner you make that phone call, the sooner you’ll get the results you’re looking for.
- Energy is power so stay focused on maximizing your energy, which will make you a far more productive person.
- Most people typically have 4-5 productive hours each day so getting the proper amount of sleep, eating healthy with daily exercise will help you get the most out of those hours.
- Never be afraid to get outside of your comfort zone. Challenge yourself because this is how you grow!
The Money Blueprint℠ for Business Owners
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Resources and Related Profit Boss® Content
- Heroic Profits for Mission-Driven Coaches and Experts Facebook Group
- Antifragile: Things That Gain from Disorder
- Jocko Motivation “GOOD” (From Jocko Podcast)
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Hilary Hendershott: Welcome, profit boss. Today I have with me a very special guy. First of all, he is my launch coach. It’s how we met. It was very fortuitous, serendipitous, but Ron Reich is a sought-after marketing strategist and consultant. He is a former attorney. Ron has been selling online for over 14 years, we discovered today. After launching over 50 of his own products in a variety of niches, he later became the “secret weapon” behind many of the biggest names in the industry, including Hay House Publishing, Todd Herman, Selena Soo, Denise Duffield-Thomas, and Ryan Levesque. His current focus is helping emerging experts build seven-figure businesses through his proprietary marketing systems.
Hilary Hendershott: Ron, welcome to Profit Boss Radio.
Ron Reich: Thank you so much for having me. It’s an honor to be here.
Hilary Hendershott: Yeah. So, Ron, you’re kind of a successful business whisperer. You’re full of not just good information but like well-timed good information. So, give us a sense of, I mean, I just kind of dropped a bunch of names, right? Those are big industry names that people you’ve worked with but give us a sense of your career trajectory. How did you get into it? First of all, let’s just start. What’s the name of the puppy on the couch behind you?
Ron Reich: This is Milo. Yeah. Everybody’s got bookshelves in the background. I have Batman, the Buddha, and my dogs.
Hilary Hendershott: And the Zen dog. Okay. Got it.
Ron Reich: Exactly. He’s chilling now.
Hilary Hendershott: He keeps you grounded.
Ron Reich: Exactly. Stay grounded. Absolutely.
Hilary Hendershott: Alright. Good. So, tell us how you come to have such a perspective on not just launching but money and all things entrepreneur.
Ron Reich: For sure. Well, thank you so much for asking that. Actually, I’ll tell you about when I first got into online marketing but actually, before that, I think it’d be instructive to you listening to this just about kind of where I came from and how I got to where I am. My story started out actually when I was in the second grade. I had my first motivational talk from my mother when I came home from school one day and she told me that I was going to have to be held back, that I was going to have to repeat the second grade. And as you can imagine, this was like super-duper traumatic for me. I was crying for weeks I felt like it. From that point on, I was about five years old at the time, and really for the next, honestly speaking, the next like 30 years of my life, I always felt like something was wrong with me, like I wasn’t smart enough, like I couldn’t do things the right way. And so, because of that, I always had this chip on my shoulder where I felt like I had to overcompensate like, “I’m not an idiot. I am smart.” That’s why I ended up becoming a high achiever in academics. I did it going to law school. I ended up passing the bar exam. And then one thing led to another. I got involved in online marketing but I always was kind of like this behind-the-scenes type of person.
So, this is actually, to your point, how do I get this perspective? So, after I quit my lawyer job, I ended up launching my own businesses, selling my own products, primarily in the dog training space, believe it or not. I love dogs, you know, I’m walking my talk as well as in the relationships space. But I was always a behind-the-scenes type person. So, as a result of that, those businesses generated millions of dollars but I was always the puppet master behind the scenes like you mentioned. And then I ended up graduating to Ryan Levesque, who you mentioned. He was my mentor at the time. And when his business was really growing, this was around 2015, he needed help in his business. First, he launched the mastermind. He needed someone to coach his mastermind members, and then he also needed someone to help him with marketing. So, before I knew it, I was actually his full-time marketing director, and I ended up doing that for two years. And that’s what really got me involved in helping entrepreneurs grow their businesses. And then from that point on, I ended up working for him for two years. I ended up then consulting with mostly high level like seven-figure, multi-seven-figure players on their launches. And then later on, I found out that the people who I could really serve the best are emerging entrepreneurs who are typically doing well with six figures and helping move to seven figures.
So, to your point, it’s like I really am very proud of the fact that I really have a unique perspective on what it really takes to build a seven-figure business because I’ve got my own successful businesses, I’ve worked behind the scenes of people like Ryan Levesque and Todd Herman and Denise Duffield-Thomas like you mentioned. And then I’ve also coached people who at those early stages and who are only doing a couple of hundred thousand dollars a year and help them actually grow to seven figures. And that’s probably what I’m most proud of is my seven-figure case studies, the people that actually went from, you know, a couple of hundred thousand dollars a year to seven figures and beyond. So, to answer your question, yeah, I do have a very unique perspective. Absolutely. And wanted just to kind of wrap up a bow around this story is that I always felt like because of what happened when I was younger that because I kind of felt like there was something wrong with me, that’s what I was really afraid to step out beyond the shadows, so to speak, and that’s why I always was that behind-the-scenes person. But I really felt like the reason why I’m talking to you right now, that’s why I’m excited to be on your podcast so I can actually be front-facing and actually bring my message to more people because I think that that’s going to have a bigger impact, of course.
Hilary Hendershott: Yeah. You and I have something similar, actually, slightly different. I had a lot of self-dislike, self-loathing I think is the right term, but I learned that I could stand out by doing well in academics because I can take a test well. So, maybe I’m really good at school. It wasn’t fulfilling. You know, we talked about that chip on your shoulder. It’s like, “I had to be good at school.”
Ron Reich: Yeah. Absolutely. And, yeah, it’s interesting because like, as we know now, like academics like being good at school, that is a very specific skill set that really anyone can learn if they’re motivated in that, for sure.
Hilary Hendershott: Right. Exactly. Okay. So, let’s talk about, you know, you have this large sample size of seeing the inner workings of how entrepreneurs work, and I bet you can start to identify. I talk a lot on this show about the money operating system but your vantage point is like, how do entrepreneurs take coaching? How in action are they? What is the fuel? What’s going on in the background when someone’s consistently taking successful action versus not successful action? Tell us how you’ve organized your thoughts around that.
Ron Reich: Yeah, for sure. So, as you’re alluding to, of course, I mean, if you’re listening to this, you have heard this before that really the difference between someone who does seven figures and someone who gets to maybe just $100,000 a year or a couple of hundred thousand dollars a year and stays there, the big difference really is it really is in the mindset. It’s the mindset plus the actions that they’re taking. But it really is more of the mindset because the truth of the matter is like we know the statistics that I don’t know the exact statistics off the top of my head, maybe. But like if you’re doing $100,000 or $200,000 a year in revenue, you’re in like the top 5% of businesses. It’s kind of not a joke and the point I’m getting at is that if you’re listening to this and you’re doing $100,000 a year or $200,000 a year, pat yourself on the back because you’re in that top percentile and most likely, you’re working hard like you’re taking action. So, really, the differences from like those people who are not getting to that seven figures and the people who kind of stay on that hamster wheel, it really does come down to the mindset, which I’m excited about diving into kind of like what those things are with you are right now if you’ll let me.
Hilary Hendershott: Yeah. That would be awesome. So, you have your traits of a seven-figure mindset, so share with us what those are.
Ron Reich: Yeah. So, a couple of things we have are I have like essentially these five pillars of the seven-figure mindset. And before I get into those which are really awesome, if you’re listening to this, please take notes and ask about what I’m talking about because it’s going to be game-changing for you. And the other thing, before I get into this, I do want to just talk about some of the things that will allow somewhat kind of a fuel like you mentioned by building that seven-figure mindset. These are like the building blocks of a seven-figure mindset that I get into the pillars. So, one of the things is that if you want to build a seven-figure business, you need to believe it’s possible. This is a huge thing that most people who don’t build seven-figure businesses, they just don’t on that really visceral level believe it’s possible. They also need to believe they’re capable of doing it like they need to believe it’s possible and that they’re capable and that they have the skills to do it. The good news there is that the skills, the technical skills of building a seven-figure business, they’re not really super complicated. If you built the six-figure business or multiple six-figure businesses, I promise you, you have the skills or you can learn the skills.
And then the third thing that you have to have in place is you have to have motivation. This is a thing that you heard me mention this before, Hilary, is that in a lot of ways building a seven-figure business is kind of an irrational thing for a lot of people. If you do the things that you, Hilary, talk about and keep your expenses in a good situation and have a good profit, you can have an awesome life if you’re doing like $400,000 or $500,000 a year.
Hilary Hendershott: Absolutely.
Ron Reich: Right? So, you know what I’m talking about. You’re kind of like, you’re winning like if you’re doing that. So, going from $400,000 a year with, let’s say, to seven figures, it’s kind of irrational, you need to really, really want it. And not everybody has that motivation. This is where giving some tough love here. Some people who are at that, they might be at that $100,000, $200,000, $300,000 even $400,000 or $ 500,000 a year level and they’re wondering, “How come I’m not hitting seven figures?” The truth of the matter is, is that probably they don’t want it bad enough like their actions are demonstrating that they’re not really going that extra mile, which we’ll talk about. Cool. So, I’m going to keep moving on here, so again, you got to believe it’s possible, you have to be motivated, and you have to have a capability which you do have that capability. So, let’s get into the actual five pillars. I’m so excited about talking about this. This is one of my favorite topics on Earth. Okay. So, pillar number one is that, I alluded this in the past or in a couple of seconds ago, seven-figure players they do what is necessary and they are 100% all-in committed. And this is just one of those things where I see this all the time with my most successful clients is that when they know what they need to do, they do not negotiate with their coach or with reality or whatnot.
Hilary Hendershott: I love that phrase. The less you negotiate with reality, the better you’re going to do.
Ron Reich: Absolutely. Yeah. They just do not negotiate with reality where sometimes, to be honest, and we’ve talked about this, sometimes the things that a person needs to do to get to that next level, it’s going to involve a risk. It’s going to involve really stepping outside your comfort zone and the seven-figure players they’re willing to move forward in spite of that un-comfort. I mean, this is one of the keys. So, for example, like one kind of hack, let’s say, of hitting your – and this is actually you’re like the best like I learned it from you the whole like a great example is it the 50 no challenge, the 100 no challenge?
Hilary Hendershott: Yeah. We call it the no challenge. I invite people to go out and ask for enough things that they’re going to get no 100 times and I say you’re going to get yes so many times on the way to 100 nos that you’ll totally change your life.
Ron Reich: Absolutely. So, here’s one thing. So, to a couple of things that when I’m at my seminars and I had conversations like this, when I asked seven-figure people what’s the number one thing that allowed you to get to seven figures in the way that you did? The number one thing they say, they said, “I was focused. I stayed focused on what was important.” And that’s related to doing what’s necessary. And then the second thing that they’ll say and this is critical and it ties in perfectly with what we’re talking about right here is the second thing that comes up most often is they say, “I got over my fear of asking for help. I realized I couldn’t do it alone.” And this doesn’t just mean building a team which once you’re kind of doing like $400,000 or $500,000 a year that it might make sense to start really getting into that but it really is just like asking for whatever you need to ask for, asking to get a more podcast, asking for the sale more often. If you want to launch bigger, asking for more speaking opportunities. It could be asking people to, you know, what’s the other? Like, asking people to be your affiliates, for example, any. Just the more you ask, again, this is a perfect thing. If I give that 100 no challenge to someone, the seven-figure player is going to be like, “Okay. Bam. That’s a challenge. I’m going to get my 100 nos faster than everybody else. Ron, I’m going to be your best student. I’m going to get 100 nos within the next week.” That’s the seven-figure mindset where like other people who are not seven-figure players they’re like, “Oh, I don’t know, like, yeah, like that sounds good but can I just do that?” So, that is an example. So, again, big picture, seven-figure A-players, they do what is necessary.
Hilary Hendershott: Because it’s like if you just keep taking the same actions, obviously, you’re going to produce the same results in life. So, if you want bigger, better, more profitable results, you have to do something brand new.
Ron Reich: Absolutely. And you have to get out of your comfort zone. Exactly. And this never ends even if you want to go from like seven figures to multiple seven figures. If you want to go to 10 million, you’re always getting outside of your comfort zone. There’s never a point where you’re there and it doesn’t get easier. This is newsflash. It’s no easier to run a seven-figure business than a six-figure business. And then some people will say it’s actually, you know, not even worth it to build a $10 million business because of all the extra complications that you have. Again, I think that’s a great call if people want to do that but just realize that there’s never a point where you’re just hanging out on the beach drinking piña coladas.
Hilary Hendershott: Not unless you’re paying someone else to do all the things you’re actually responsible for.
Ron Reich: For sure. For sure. Totally.
Hilary Hendershott: I learned this lesson around weightlifting, actually. Someone says, a coach finally said, “Look, it never starts to hurt less. You just put more weights on the bar.”
Ron Reich: Exactly. It’s just a simple metaphor. I’m going to use that one as well. Yeah, that one that’s absolutely true. So, yeah, moving on here just in the interest of time. As you could tell, I can talk about all of these for hours, especially when you get the two of us chatting. Okay. So, first thing is A-players, seven-figure players, they do what is necessary. The second thing is the extra 3%. Seven-figure players, they go the extra mile with everything. There’s a lot of if you study athletes and like highest level athletes and things like that, what you’ll find is that the people who get first place, the people who win gold medals, they’re not like way better than the guy that gets tenth place, for example. They’re literally percentiles better. It’s like if you look at like sprinters, it’s literally like percentages out of percentages. The point I’m getting at is that it’s not so much about being so much better or so much smarter. It’s about just being consistently going the extra mile not in everything generally but also specifically with the things that we’re talking about here. So, using this example, the seven-figure or the emerging seven-figure player that gets like here’s the 100 no challenge, they would get 200 nos like, “I’m going to totally smash this.” And it’s about going the extra mile with their competition, with their customers, for example. It’s about really just going farther with everything because, again, to be a seven-figure player, you’re by definition, in the top 1% of entrepreneurs. So, in order to get there, you have to go that extra mile.
Hilary Hendershott: I think it’s also about being ruthless, about not doing what doesn’t matter. So, you have to go to 103% on the things that do matter because you can’t burn yourself out. It’s like if sending that printed newsletter, I mean, this is one thing I was doing. I was printing these newsletters and mailing them out. And that was for some coach in my industry told me to do that. I finally said, “This is nuts. I can’t spend my resources on this anymore.” It’s not producing a result.
Ron Reich: Absolutely. Yeah. Related to number one, doing what’s necessary, it’s like once you know it’s necessary, once you know what really moves the needle, it’s about being relentlessly focused on those things. And so, this is where not to get too much into business strategy but if you are, again another super tip, if you’re doing a couple of hundred thousand dollars a year, what you’re going to find, this is the 80-20 rule what’s most likely you’ve heard about, that most likely 80% of your income is coming just from a certain couple of activities, and 80% of your best leads are coming from a few certain places. So, it’s really about focusing relentlessly on what are those levers. There’s this idea of addition by subtraction, which most people, our natural inclination we think that we can make things better. They’ve done scientific studies about this. We think we can make things better by adding more stuff to it but the truth of the matter is oftentimes it is subtracting, exactly what you said, which is going to give us those exponential results. Cool. Moving on here, alright, so one of my absolute favorite topics in the world. Pillar number three is what we call the antifragile mindset. And have you heard about this concept of antifragility before, Hilary?
Hilary Hendershott: I have. I have heard about the concept and I have loved listening to you describe it. There’s something specific that you said that just really had my brain going but I’ll let you talk it through and then I’ll ask you about that one aspect of it.
Ron Reich: Cool. So, this idea of the antifragile, it comes from this guy, Nassim Taleb, I believe how you say his last name. He wrote a book called Antifragile and really the idea, it’s really best explained with a metaphor that he uses in the book. So, we imagine there’s a base and there’s a box with a base inside of it, and on the outside of the box it says fragile. So, what happens when you shake that box? Of course, when you shake that box, it breaks and we have another box with another base in it. On the outside of this box, it says resilient. So, what does that mean? That means that if you shake it, it’s resilient. It’s strong so it doesn’t break, which is awesome. And then there’s a third box with a base in it, and this one says antifragile on the back or on the front. And this one, when you shake it, it actually gets stronger. This is really what it means to be antifragile. The idea is that the seven-figure player is totally antifragile. They use obstacles and challenges and things that are difficult to make them stronger and get them to the next level. This is you mentioned weightlifting, right?
Hilary Hendershott: Yes.
Ron Reich: The growth path, the pain of weightlifting directly relates to the growth. And the thing is in business, bad things do happen. Launches will fail. You will like have people steal from you. But if you’re an antifragile entrepreneur, you need to really not dwell on those things but realize that they’re gifts and they are going to make you stronger. This is a little more in the context of personal development but it’s a great equation that I came up with, which is basically this. So, if you’re listening to this, you’re into growing your business, you’re into growing as a person. So, here’s the equation. And, Hilary, you’re good at math. I’m aware of this.
Hilary Hendershott: I’m at least a B-plus player there.
Ron Reich: Yeah. So, here’s the equation. Growth equals awesome. Growth is awesome. We agree on that. If you’re listening to this, you agree on this. Challenges, obstacles, et cetera, equal growth, therefore…
Hilary Hendershott: By the transitive property.
Ron Reich: Exactly. Right. Therefore, challenges, obstacles, etcetera, equal awesome. So, this is what we need to realize and that when something bad happens, we need to realize that it’s awesome. And then, again, seven-figure players, if the bad things happen, they do not dwell on that. They think, “Okay. What do I need to do now? How can I learn from this? How can I recover?” And again, they realize that this is just part of the gang.
Hilary Hendershott: Right. You know, so what would you say if someone’s like Ron, I’m just really going through a tough time right now like all I see are costs. All I see are impacts. All I see are distractions from my business. You know, do you have any insight on how to get to be in that antifragile mindset? Is it just really taking on that this pain point is now my source of strength?
Ron Reich: Yeah, absolutely. I think a lot of it really is it’s just deciding to have the mindset. So, there are tools you can use, for example, to get yourself by tactically in the moment to get yourself into a better state. One of the great ones is you can watch this video by the super awesome navy seal, Jocko Willink. I think that’s how you pronounce his name. Just google Jocko Good, and this is really awesome video where the whole thing basically the idea is that his process is anything bad happens, good. And then, of course, once you get into the process of, “Oh, it’s good,” your mind’s going to start to explain like why it’s good, “Okay. Good. My costs are out of control. Oh, good. This gives me an opportunity to actually look at those costs and realize what I need to fix to become a more responsible entrepreneur,” or, “Good. This is a good opportunity for me to hire Hilary so she can show me how to get my costs under control,” for example. Think about exercising your antifragile muscles. That’s what we’re talking about here. It’s like the more you get in the habit of just believing that you’re antifragile and realizing that it’s always going to be a challenge and kind of just rewiring your brain to move forward when you feel that difficulty, the better off it’s going to be. I’m trying to think if there’s any other quick tools that I can give you. That’s a good, easy one that people can start with.
Hilary Hendershott: Okay. Alright. Perfect. What’s next? What’s next on your list?
Ron Reich: Next on my list is, okay, pillar number four is that A-players, seven-figure players, they’re process focused and they control the things that are controllable. So, there’s this idea of leading indicators versus the lag indicators. I’m guessing you’re familiar with this concept.
Hilary Hendershott: Yes. Actually, in my coaching program, I’ve realized I called leading indicators key performance indicators. So, for those of you who have been in my programs, that’s Ron and I talking about the same thing, just using different words.
Ron Reich: Okay. Great. Yeah. So, a key performance indicator or a leading indicator, what this is, this is the thing that you as the entrepreneur have 100% control over. So, these are things like how many sales call you make, how many people you ask things for, or how much content you post, how many podcasts you put out. It’s a thing that you have 100% control over. It can also relate to a project. For example, did I execute my watch? Did I build this funnel? Did I perform this webinar? So, that’s the leading indicator. And then what we call live indicators, that is the result. That is the acting that usually has some kind of a number tied to it. So, for example, it might be something along those lines that a great example would be, okay, if I want to sign up one new client and I know that in order to have one new client, I need to generate three sales calls. And then, okay, so what I need to do to generate three sales calls. That’s my dog barking. This is a great antifragile moment. Time for me to be calm and focused on this podcast. So, if I needed to generate three sales calls, for example, I might think, okay, what I need to do to generate three sales calls? Okay. I need to reach out to 30 people because I know for every ten people I reach out to, I get one sales call.
Okay. So, my leading indicator is going to be how many people did I reach out to? This is the thing that I have 100% control over. And the idea is that if I do X thing, then the result of getting that one client is going to happen. And here’s a thing. Oftentimes, especially if you’re selling like a higher-end offer, no joke, getting to a million dollars, it’s the ultimate simple but not easy. Oftentimes, it really is just realizing, “Okay. If I’m selling a $5,000, $10,000 product, how many then do I need to sell per month? Okay. How many sales calls do I need to generate? How many people do I need to talk to?” And then getting to work. The big picture, it’s about focusing on what you have control over and good things are going to happen.
Hilary Hendershott: It’s like, in some cases, it’s simple math, right? Because the thing you’re doing that’s producing contact or trust or eventually the sale is those reach outs, the asking for the order, asking for what you want, right?
Ron Reich: Absolutely.
Hilary Hendershott: And that’s one thing I really learned from you is like taking up the complexity of these virtual internet-based funnels that everyone wants to talk about. So, anyway, I interrupted you.
Ron Reich: No, no, no. All good. It’s one of my favorite. It’s really interesting for me, just to be totally honest, is that so I pride myself on being like I started as a high-end want strategist. I spent a couple of years working with Ryan Levesque. I was his number one student doing all sorts and he has amazing stuff with his quiz funnels, for example. Basically, I spent the first 10 years of my career doing all sorts of high-level marketing stuff and with complicated funnels and upsells and downsells, multi-million dollar launches with all these types of sequences and things like that. And that stuff is awesome. Even for my emerging entrepreneurs who are scaling the seven figures, totally doing launches and webinars and email sequences, I support them with that and that stuff does have their place. However, the truth of the matter is, is that if I’m being honest, the stuff that really moves the needle the fastest, it’s typically the more old-school marketing, basically picking up the phone. There you go. Pick up the phone more, ask for more stuff, and you don’t need complicated funnels.
Hilary Hendershott: Talk to people.
Ron Reich: Talk to people. Exactly. I have many favorite topics. Another one of my favorite topics is realizing that relationships and talking to people, it is just how it works. And if you look at again, at the highest levels of business and politics and things like that, this is the game. So, a great example is it’s political season now. It feels like a political season for a long time. I’m not going to get into politics but what I will say is that if you look at a person who is running for office, anyone who’s running for office, to have the most responsible job in the world or any responsible job, let’s say, what are they actually spending their time on? They’re spending their time basically a big portion of time talking to people like, for example, fundraising is a big part of actually, you know, they’re spending time fundraising, picking up the phone, asking for money. They were going out to events, wining and dining people. They were going out and speaking at events. Again, this is what they’re focusing on. If you look at like high-level CEOs, why are they traveling on private jets? Because they need to like fly to places to meet people so they can make business happen, for example.
Hilary Hendershott: Face-to-face.
Ron Reich: So, this is just how it works again at any level. So, if it’s good enough for Jeff Bezos, then it’s good enough for you to pick up the phone and talk to people. You know what I’m saying?
Hilary Hendershott: I do. You never get to a place where you’re such a successful CEO that you can stop talking to people. You just have to keep raising the bar.
Ron Reich: Absolutely. Who you’re talking to, yeah, of course. To be worthy to talk to Jeff Bezos, obviously, you have to be a big deal, for sure. For sure.
Hilary Hendershott: All right. So, that fourth point is being relentlessly process-focused on controlling the things that you can control. Anything else to say about that one? You make the point. You love it when people are super implementers. So, you love it when people take action right away, right? And this actually carries through all of your pillars.
Ron Reich: Absolutely. Yeah. One of the things that I mentioned that I didn’t mention that I will mention now is that the seven-figure players the number one thing that they have in common the number one thing is and this, again, carries through with everything we were talking about is they implement like machines. They implement like robots. My best seven-figure players, they really astonish me with how amazing they implement. It’s like I’ll give them some stuff to do, and I might think that they’re going to like what we’re going to talk next week and it’s like three days later, “Hey, did this, did this, did this.” It’s like wow. And that really is what it takes where most people don’t implement that fast. So, like I said, they implement like machines. They implement like robots. And again, this is the number one thing they all have in common. It’s like a master skill. We talk about capabilities and skills. The master skill is the ability to execute.
Hilary Hendershott: All right. Perfect. And what’s the fifth pillar then?
Ron Reich: All right. So, the fifth pillar is that energy is power. And really, what we’re talking about here is that you might have heard of this idea that your physiology controls your psychology. And so, one kind of have to get to that next level is really to focus on your energy and making sure that you have maximum energy. So, there’s a lot that goes into this. I have complete trainings on the topic but let me just kind of give you a few things to consider. There is this idea that they’ve done studies on high-level business people, Olympic athletes, chess players, high-level musicians, and what they found is that we can really only do about four to five hours of focused actual work per day. The average is four-and-a-half hours. But what you’re going to find is that the biggest, the highest level players, the highest achievers, the top 1%, the seven-figure players and the Olympians, et cetera, et cetera, what they do is they use the rest of the day, the other 19.5 hours to really maximize their energy, to make sure that they can really maximize their 4.5 hours. Does that make sense?
Hilary Hendershott: Yup. So, proper sleep, proper nutrition. I know you talk a lot about meditation. Anything else you like?
Ron Reich: Yes, all those things. Yeah. Essentially, the big ones are, as you mentioned, eating, sleeping, exercising, meditating, and a big one is unplugging. That’s spending less time on your smartphone and being reactive and checking the email and things like that. I have a rule. I never check email before. Two rules that I use that I would encourage others to consider, never check email before noon and keep your smartphone off 99% of the time. Another way of saying, only use your smartphone unless it’s absolutely necessary. I have more to say about this topic but I know we’re kind of running against the clock here. But really, this is kind of another hack in the sense that if you really, really, really decide to prioritize your energy, not only are you going to perform better and you’re going to like, it’s going to be easier to implement and take action and do all the things we’ve been talking about for most of this call, you’re also just going to feel really, really good. And it’s almost like this makes it a lot easier to be antifragile. So, it’s another kind of antifragile hack. Like, if you’re feeling really good, if you’re eating good, if you’re meditating, if your vibe is strong, to get a little woo-woo, you know it’s all good. It doesn’t matter if your launch doesn’t do good. You’re not going to get too wound up about it.
Hilary Hendershott: One thing I learned one time I did a leadership training program and they wanted us to internalize the lesson that I think Brendon Burchard says the power plant doesn’t get energy. It creates energy. And so, they had us just generate energy from nothing. And what I learned is that that kind of thing is self-sustaining.
Ron Reich: Absolutely.
Hilary Hendershott: So, once you come up with the activation energy that it takes to get your body and yourself in a high vibe, it tends to like stay that way.
Ron Reich: Absolutely. For sure.
Hilary Hendershott: It’s a really cool thing to learn for yourself.
Ron Reich: Absolutely. And again, to get a little on the woo side is that there is this idea that there is energy that people might call like your soul force or your life force, where literally there is like an energy out there that it really is infinite and that I would argue that’s why that’s happening for sure.
Hilary Hendershott: Yeah. Ron, thanks for joining us. If you’re listening, you really need to take Ron’s advice to heart. He literally has seen the inner workings of hundreds, if not thousands, of entrepreneurs, businesses and he really does know the symptoms of success. And so, this synopsis is really just something for you to take and run with. Ron, where can people connect with you that matters? First of all, your newsletter is fantastic. I love seeing your posts on Facebook. Where do you want to send people if they want to connect with you after today?
Ron Reich: I appreciate that. Yeah. The best place to get in touch with me would probably be my free Facebook group. I have a Facebook group called Heroic Profits for Mission-Driven Entrepreneurs. So, if you just type in Heroic Profits on Facebook, you should be able to find it and also just connect with me directly on Facebook, on my personal page. I post a lot of stuff there, just Ron Reich. And, yeah, add me and send me a message and we’ll be able to connect.
Hilary Hendershott: Awesome. Alright. Ron, thanks for your contribution. It was great hearing from you. We appreciate your five pillars of a seven-figure mindset.
Ron Reich: Thanks so much. It’s awesome being here.
Hendershott Wealth Management, LLC and Profit Boss® Radio do not make specific investment recommendations on Profit Boss® Radio or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.