When David McCourt, the billionaire entrepreneur, was writing his book Total Rethink, he didn’t know it would be so relevant so soon. Industries have been shaken up big time during this pandemic. So, in this episode of The Business Mentor Podcast, Jay and David discuss how business leaders and entrepreneurs should think (and act) during and after the coronavirus crisis. Listen as they give their insight into the ‘new normal’, the urban-rural divide, the ‘cash is crash’ myth, the need for incremental change, and more.
David also shares what it is he has been doing to further improve the state of the telecom industry in Ireland. Plus, he also answers viewers’ questions related to the coronavirus.
- David has always been a big-time innovator in the telecom industry. Currently, he’s securing the largest public-private partnership in Ireland, which aims to bridge the urban-rural divide. Those in rural Ireland can soon have the same level of support given to urban areas.
- A successful business makes money and contributes value to society. It’s possible to be a millionaire, or even a billionaire, as long as your determination and passion never falter. Listen to what your gut is telling you, just ensure that it also helps other people.
- There will be a new normal. In terms of jobs, it will be a different responsibility that you’ll take in once you return to your job. For some, unfortunately, they might have no job to go back to because of the changing demand. It will also be inherently easier for the elite to bounce back from the coronavirus crisis than those who work under them.
- What can small businesses do amid the Covid19 pandemic?
- Watch the cash. Cash is the oxygen of your business.
- Work harder than you ever did before.
- Stay focused.
- And ask yourself, how can my business fit in?
- Aim for incremental change. Since everything is going so fast, it’s time to think of revolutionary ways to cope and find solutions. Communicate clearly. Be compassionate to the people affected by the crisis. There will be ground-breaking innovations that can emerge.
- How does an entrepreneur start again post-coronavirus? Go back to what you consider is your strongest suit. It’s easier to bounce back and climb the ladder when you’ve been playing the game for a long time.
- “When you come from the bottom and you have nothing, you’re much more willing to take risk.”
- “What you should do with your life, because it’s a limited amount of time, is something you love with the people you love for a reason you love.”
- “Entrepreneurs need to communicate clearly. They need to be consistent, empathetic, and passionate.”
- “Be disciplined. Say NO more often.”
- Read Total Rethink: Why Entrepreneurs Should Act Like Revolutionaries by David McCourt. Order it on Amazon here: https://www.amazon.com/Total-Rethink-Entrepreneurs-Should-Revolutionaries/dp/1910453536
ABOUT THE GUEST
David McCourt is the founder and chairman of Granahan McCourt Capital. For over 30 years, he has brought significant changes in the industries of technology, telecommunication and media. He also founded over 20 companies in nine countries. One of his notable contributions is the development of transatlantic fiber networks.
- Granaham McCourt Official Website: https://granahanmccourt.com/
- David McCourt’s LinkedIn: https://www.linkedin.com/in/david-mccourt-992182164
ABOUT THE HOST
Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all with no investment other than a slight amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.
Its immense success inevitably brought about outside interest, and at the age 33 Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.
A calling to give back and help others led to Jay being chosen for the highly coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.
After helping several young entrepreneurs to succeed as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.
Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.
In the UK alone 95% of business fail within the first five years and Jay’s aim is to reduce that number.
Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.