Do you want to create a rich life around your business? Marty Vids shares practical advice on running a successful business, finding mentors, and building your support system that drives success.
Marty Vids is the founder of Entrepreneur 500 which focuses on mentoring and a bringing together business owners through mastermind groups, mentoring and events to collaborate and learn from each other as to what it takes to build a significant and meaningful business.
“You’ve got to put yourself in a situation where failure is not an option, where you have to succeed”
Marty started his career in the spotlight. He did stand-up comedy before transitioning to working with Westpac as a Priority Business Banker. He was doing well financially but felt that he was just floating by and not really utilizing his full potential. His life took a completely different turn after a conversation with a client really challenged him to be better and do better.
He took on the challenge and modelled the top performers in his industry, and within 6 months, had three promotions. Although his career was doing great, he really had a strong connection with business and felt that he can serve better being in business. After much thought and consideration, he decided to jump out of the corporate world towards entrepreneurship.
Marty found amazing people who supported him on his journey in starting his own business. Apart from mentors, he also found support from unexpected places, family, and a powerful synergy of five or six people that really support each other.
Support for Individual Business Owners and Micro Enterprises
Bigger businesses have more resources, and also gets more support than their smaller counterparts. Marty’s company found their niche in helping smaller business owners who feel isolated, work long hours, and are not yet being compensated well by their businesses.
47% of small business owners earn earn less than $100,000 a year and 26% earn less than $50,000 a year. There’s a real opportunity to develop those people to having more mature businesses and having rich lives around their business and that is where Marty’s passion lies.
The 3 Key Problems Small Business Owners are Facing
- They spend more time in making the business looking good rather than understanding if there is actually a business
- Self-Care. Business owners tend to take care of everybody else. If the business owner falls over, the business falls over.
- Getting distracted and delusional with too many ideas.
Entrepreneur 500’s business model supports these business owners through one on one mentoring workshops, and collaboration groups.
Being in a collaboration group is like having mastermind of people at the same levels of business. It is a group of eight people that are willing to come together to share concepts and ideas, not only online but also in person. The group provides the opportunity of having a board of directors that small businesses usually wouldn’t be able to have access to. It also provides support in the development of the businesses as well.
Profitability & Client Attraction
Time hungry business owners are starving for information, connection, and collaboration with other business owners. In the recent years, Entrepreneur 500’s profitability has been driven by these three activities:
- 2-3 Day Workshops
- Online Masterminds
- Word of Mouth
You have to set yourself apart in a noisy market. The people you’re collaborating with are your best sales force. Building relationships with people is the best way to build your business.
Habits That Drive Success
Marty strongly believes in structuring each day that is focused in attaining specific outcomes creating routines that would set up his day. He shares his morning routine of spending time with his child, having a 20-minute meditation, and opening up times of responsiveness.
He strives to achieve balance in his life by being present for his wife Colleen and their child Charlie.
Top 3 Productivity Tips
- Take the next step.
- Don’t do something you don’t want to do. If you can, delegate it.
- Do the highest purpose item in the day and make sure that it gets done.
You don’t earn a living. You are living.
Marty reminds us that you are not trapped in a box. You’re not living a life that you should be living based on what everyone else is telling you. You can create a life and business that you love.
Reflect on what living and richness in life really means for you. And then, whatever you connect that through, whether it’s employment, business, or hobbies – that’s where you need to make it count.