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Ignore the Hype – Startup Different with David Sinkinson

David Sinkinson is a proven SaaS entrepreneur and Chief Podcast Officer of Startup Different.

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Guest Resources

Startup Different – Check out their website.

Startup Different Podcast – Watch the latest episode of the Startup Different Podcast now!

Startup Different Book – The Myth Busting Blueprint for your Multi-Million Dollar Business. Launching of the book is on Oct. 1, 2024. You can pre-order starting on Labour Day.

David Sinkinson YouTube Channel – Check out David on YouTube.

David Sinkinson – Connect to David on LinkedIn.

3 Value Bombs

1) One of the most real challenge that entrepreneurs face is psychological and it changes over time.

2) Your business needs you to be you and that is the biggest psychological challenge. Ultimately, it is an introspective challenge than an extrospective challenge.

3) The startup universe is laden with so many different myths. Its really important that you and your co-founders take on those issues together and figure out what is going to work for you and your business.

Sponsors

HubSpot: Grow better, faster with HubSpot’s all-in-one intuitive customer platform. Visit HubSpot.com to learn more!

ThriveTime Show: Attend the world’s highest rated and most reviewed business growth workshop taught personally by Clay Clark & football great Tim Tebow at ThriveTimeShow.com/eofire!

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Ignore the Hype – Startup Different

[1:03] – David shares something that he believes about becoming successful that most people disagree with.

  • Most people think that to be successful in attacking the market you have to be super ruthless but he thinks that “nice guys finish last” is the most pervasive myth in the business world particularly for Startups. Instead, he calls it moral ruthlessness.

[4:09] –  David tells what startup different means.

  • Startup different is like a podcast which he co-host with his brother where they pay it forward by giving lesson to other entrepreneurs. Its like a mindset of taking a fresh approach at what being a startup is and evaluating as a group of entrepreneurs of how they can do it better.
  • Startup different is taking a critical lens at a lot of myths that are so pervasive in the business world particularly around startups, what is real and what is noise.

[5:50] – David gives some examples of common startup myths.

  • First myth is ‘sitting around and having a Eureka moment of business ideas’ because it’s a process that you have to execute and have enough knowledge of. There’s a saying that coming up with an idea and executing a startup early on takes 1% ideation and 99% perspiration. You have to get out there and do it.
  • Second is ‘new companies appear in one day and they’re worth a million of dollars’. Most companies in average take 11 years to reach to a million dollars in topline revenue. Its takes many years to get to it by having persistence, dedication and hardwork.
  • ‘A company is too small to have a cultural crisis’ because it is vital for you to know the importance of culture in a workplace.
  • ‘You need to shop your company to sell it’ because in their business, they have buyers coming to them because they have created an extremely profitable business. He got an advice to find bankers which they didn’t need to get at all.

[9:28] – A timeout to thank our sponsors!

  • HubSpot: Grow better, faster with HubSpot’s all-in-one intuitive customer platform. Visit HubSpot.com to learn more!
  • ThriveTime Show: Attend the world’s highest rated and most reviewed business growth workshop taught personally by Clay Clark & football great Tim Tebow at ThriveTimeShow.com/eofire!

[12:23] – David shares a myth he believed in  that was bad for his company.

  • Early on in their business they got an expectation that culture around startups are basically the same but it wasn’t. They tried to copy another company’s culture but they just couldn’t do it and they lost their staff because they didn’t understand it and couldn’t handle the principle of that culture.
  • They reset their business and wrote down all their principles on how they want to run their business starting from scratch. Thankfully they learned their lesson and they built a culture that they understood and their employees thrive in.

[15:58] – David talks about the biggest real challenges that all entrepreneurs face.

  • One of the most real challenge that entrepreneurs face is psychological and it changes over time. There are haters out there who will say that you can’t do it and it will never work out. We also have this obsession over credibility and we want to be taken seriously and to be important.
  • Success is kind of sneaky and it is a challenge to not lose your mind. When you start doing well and getting on top of your business, it can make you into a different person and make your business less successful. Staying centered and grounded and humble is really important.
  • Your business needs you to be you and that is the biggest psychological challenge. Ultimately, it is an introspective challenge than an extrospective challenge.

[20:00] – David gives his key takeaway.

  • There is a psychological challenge and haters along the way but you can do this. If you can go out there and find a problem that people say its impossible to do but you make it possible, you will be successful.
  • The startup universe is laden with so many different myths. Its really important that you and your co-founders take on those issues together and figure out what is going to work for you and your business. And once you do, you are going to be more successful, more grounded and do things that truly make you startup different.

[21:03] – Call to action.

[22:37] – Thank you to our Sponsors!

  • HubSpot: Grow better, faster with HubSpot’s all-in-one intuitive customer platform. Visit HubSpot.com to learn more!
  • ThriveTime Show: Attend the world’s highest rated and most reviewed business growth workshop taught personally by Clay Clark & football great Tim Tebow at ThriveTimeShow.com/eofire!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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