Business & Life with Patrick Henry; If You Don’t Succeed- Try Again

In this podcast, Patrick Henry talks about his entrepreneur journey and why it’s important to have a plan and the willingness to adapt along the way.

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Show Notes

 

(00:48) – Patrick shares about rock bottom and advice on failures

• There are ups and downs and a lot of heartbreak- you have to persevere even in times of difficulty 
• Rock Bottom: They were taking Entropic (their first business) public in Dec 2007 (when the subprime mortgage crisis was beginning) and they ran into a roadblock with their IPO and could not go public
  • They reduced their IPO and were able to launch, even though they were in the midst of a global financial meltdown and made it through, eventually becoming very successful 

(4:17)  –  What is Patrick most excited about with his business, Goguru

• Starting to add new milestones this quarter and their customers are loving it
  • Their main customers are farmers

(5:27) Struggling with business goals? Set up a free coaching call today at mikeolivas.com

(5:50) – What is the endgame for Goguru

• Eventually, he wants to have a smart exit, probably selling it 5-7 years down the road when it has built up to something that can really help customers (farmers)

 

(7:35) – What is the light at the end of the tunnel?

• He feels like he accomplished every goal he had by the age of 40, so now he wants to do more for his family and community- he wants everyone to experience what it feels like to “win big”

(8:50) -Why do entrepreneurs fail?

• Because it’s really hard
  • “Do not let failure be an option”
  • If it seems like a bad idea- is it possible to evolve it into a good idea?
• Most people don’t even have a plan, and without a plan, you cannot really move forward (even if the plan changes over time)
• Need to have a great team and a passion to serve customers and solve problems

(11:45) Trying to quit the 9-5? Visit mikeolivas.com for FREE advice!

(12:20) Parting advice for listeners from Patrick Henry

• Have a commitment to learning, get a mentor and stay approachable 
• Build a great team
• Read books, listen to podcasts and try to learn as much as possible

 

Learn more about Patrick Henry:

• questfusion.com for his blog
• goguru.com
• Patrick Henry on LinkedIn

 

 

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