Is there something you’ve always wanted to try out, but the fear of regret has stopped you from doing so? Join Jay today as he discusses how to stop this fear from holding you back as he draws on his own personal experience on how some of his business ventures have turned into life lessons. Discover why it is important to test and measure your new idea, why setting yourself a deadline is beneficial and why the best lessons sometimes come from our failures.
- When you have got an idea, and you want to run with it rather than just think about it you should test and measure it and let the results decide if it is going to be something worth doing. The fear of regret and not doing something outweighs just going ahead and doing it. Whatever happens, you will learn from it.
- Going ahead and doing something, gives you this power of ‘tried it, it didn’t work, learnt your lesson’ and you are able to move on from it. The biggest regret you will have is not doing it. If you decide not to do something, you will be plagued with ‘what if’ thoughts.
- You have to go into these ventures and put some action into them. Put a time frame on things and give it a go. If you put a short enough time frame on your new business idea and stick to it, you can really push it forward. You are able to test and measure the results you get. Testing and measuring is the only thing that will make you look at this new idea and decide whether or not to proceed with it.
- The key thing is to set a deadline. If you are going to test something, tell yourself you will give this idea 2-3 months. Use the results to determine if you will continue. This doesn’t mean that you will give up straight away. Make sure you are aware of your key performance areas and ensure that they are relevant to what you are
- When you have created your plan, make sure you execute the plan correctly. If your budget allows, spend some money on testing the product. It is better to test something quickly and get direct feedback from your end consumer, rather than try to build it organically. Don’t let the fear of regret eat you up when you get older. Try things that you wish to do, the younger you are the easier it is to do.
“At the time I thought ‘oh I wish I never did this’ but looking back, it was a great lesson, a lesson that I can share.”
“I don’t look back and think ‘I wish I would’ve saved that money’ what I’ve learned is a great lesson and I made some great partnerships.”
“By doing nothing, you gain nothing.”
- Sign up to the Transform My Life Online course: https://beautifulminds.com.au/transform-my-life-online-course/
- Join The Disruptive Movement: https://www.disruptivedare.com/
- Read As A Man Thinketh by James Allen. Order it on Amazon: https://www.amazon.com/As-Man-Thinketh-Complete-Original/dp/1523643536
- Subscribe to The Business Mentor Podcast, the #1 iTunes Business Podcast in the UK! https://businessmentorpodcast.com/
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 of 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 businesses fail within the first five years and Jay aims 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.