Why You Need To Invest In Your Business And When You Should Diversify

In this episode of the Millionaire Mindcast, a remarkable guest, David Neagle who shares his entrepreneurial journey gives amazing tips on how to be a successful entrepreneur, how to get rid fears and back up from failures, how to get rid toxic people in your life, how to make your idea realize, and when is it the right time to diversify and start investing out of your business!

David Neagle is a mindset mentor, famous speaker, podcaster and host of The Successful Mind Podcast, bestselling author of The Millions Within, a book focusing on intention, focus, and awareness to build your dream business and life. David is the founder of the multimillion-dollar global coaching company Life Is Now, Inc, helping thousands of entrepreneurs, experts and self-employed professionals gain confidence and find the right mindset to increase their revenue, turning their endeavors into seven- and eight-figure ventures.

Being in the coaching and mentorship industry for more than 20 years, David has worked alongside other well-known mentors like Bob Proctor and Tony Robbins, and his clients include many well-known people, including New York Times #1 best-selling author Jen Sincero. Because of the results his clients have achieved, along with his dedication, David’s coaching has expanded to more than 30 countries, and he has been featured on Forbes, CBS, NBC, Wall Street Journal, Inc, HLN, Entrepreneur, and Fox.

Young David became street smart because it was needed to keep away the fears from the surroundings. His life was not on a good track and grew up witnessing all the struggles within his family. Because David doesn’t want his children to experience the hardships he’d been through, he doubles down on being a responsible person and a father.

David didn’t know that he was an entrepreneur at heart but was really preferred to make his own thing and be in control with his own income than working for somebody else. He wanted to change his situation but doesn’t know where to get started. Then, he realized that he must change his attitudes first to change his situation. So while working for Petroleum Company for seven years, he prepared himself, he learned to work with other people and learned from them, studied who David Neagle is, and how to be a successful person.

Later, David decided to leave the corporate world and build his own business. He left his work to consulting, coaching, speaking, and that he built Neagle Media. Because David was very determined to win, he had developed the ability to lose without taking it personally, take chances, take risks, develop the good attitudes, frameworks, and learn from the mistakes and people he had with.

A mentor motivated him to become a good follower; he gets rid of his ego and the shame around asking for help which he had no idea that it was blocking him so much. Just like other entrepreneurs, he encountered bumps and challenges but learned to accept himself and embraced it. To him, failing is fine but what’s not fine is that you never try what you desire to do with. Losing is not the end, so stand, and back up. Thus, stop being afraid of making decisions and failing but always find the right thing about the things that got wrong, learned from it and go on. He learned the strategy and tactics to enjoy success just like other entrepreneurs because mistakes don’t really bother him but he used it to continue to grow and expand.

David gives advice on not investing in the things that you don’t understand and develop skills set in understanding your business like sales, marketing, social media, and stuff like that. On the other side, despite his success, David has always had a deep desire in helping people the way his mentor had helped him. From starting off with the basic idea of wealth fund - just taking 10 cents out of every dollar that came to the company to now having multiple companies and helping people to be free and creating the lifestyle they want. Therefore, he expands it more globally to really touch people’s lives all over.

Neagle believes that entrepreneurship is something that’s going to bring us together as a world more than it is that something that’s going to divide us because most entrepreneurs want to do something good!

Some Questions I Ask:

Where did your journey begin from an entrepreneurial perspective? (00:43)
What do you think is the one among the key characteristics of successful entrepreneurs that served you at the highest level as a business owner? (08:58)
What’s your definition of being a good student? (09:15)
Is that one of the things that you see hurting a lot of entrepreneurs right now is this ‘figured it out on my own’ mentality versus seeking mentorship? (11:36)
What is it that you see stopping so many people and how can they go about overcoming those things to take that first step? (12:59)
How does somebody go about taking the actions to clean up some of those toxic relationships in their life? (14:38)
When did you feel like in your entrepreneurial journey you really embraced every aspect of who David Neagle is? (18:01)
What are some of the things that you consistently do no matter what that leads to that type of growth internally, spiritually, emotionally, and externally in your physical world? (23:16)
Were you born a great entrepreneur or did you create a great entrepreneur? (26:30)
How did you go about building wealth? (29:34)
When is it the right time to diversify a little bit and start investing out of my business additionally? (32:53)
What keeps you with both hands on the steering wheel pushing the businesses forward that you’re pushing forward? (36:50)

In This Episode, You Will Learn:

The bad event that shifted David’s life. (01:46)
How David changed things in life. (05:22)
The 3 key characteristics of successful entrepreneurs. (06:00)
The difference between a dysfunctional person and a toxic person. (15:24)
3 things that made his life a really big difference. (20:55)
How to avoid your idea won’t go away. (23:30)

Quotes:

“My whole life shifted.”
“Life is short, you don’t know when you’re gonna go or nothing is certain.”
“If you’re gonna do anything, you better do it now.”
“All good leaders are also good students.”
“You have to really be willing to let go of the way you think it’s opposed to working or you need to be right and follow something that actually does.”
“If you don’t create the right environment for yourself in which to succeed in, you won’t.”
“This is my life, I never going to know if I don’t try.”
“If you could own the failure and not be afraid of the failure, you’re gonna win.”
“Always get what you need when you need it.”
“Everything that goes wrong and a lot of things will go wrong, there’s something right about it.”
“Everything is already here.”
“Every level has new devils.”
“Be careful not to let our idea roll us.”
“I was born with a very adventurous spirit.”
“I would never invest in something that I didn’t understand not only the company but the psychology behind why it works.”
“I know how to make money in my companies very very well.”
“Being on entrepreneurial is something that’s on fire in the world right now.”