In this podcast episode, Jeff and Anthony engage in a conversation about entrepreneurship and small business ownership. They share personal experiences, insights, and opinions on the topic. They discuss the importance of providing value, taking care of customers, and facing the challenges of running a business. They also touch on the changing dynamics of the business world and the impact of factors like financing and minimum wage on small businesses.

Time Stamps:

The decision to become a small business owner [00:00:01] Discussion on the factors that contribute to the decision of becoming a small business owner and the personal experiences of the speakers.

The misconception about being a small business owner [00:00:53] Exploration of the misconceptions surrounding small business ownership, including the belief that it is easy and solely focused on making money.

The importance of creating value and taking care of customers [00:06:14] Emphasis on the significance of providing a good service, taking care of customers, and creating value in order to succeed as a small business owner.

The decision-making process of becoming a small business owner [00:09:22] Discussion on the factors that made it easier for regular people to start a company in the past and the challenges faced by small businesses today.

The unfair advantage of the rich in accessing better financing [00:09:22] Exploration of how the richest people in the world have access to better financing, avoiding taxes, and crushing the margins of small businesses.

The importance of working hard and providing value [00:12:30] Emphasis on the need to work hard, give your best effort, and provide value whether as an employee or an entrepreneur.

The decision-making process of becoming a small business owner [00:19:08] The speakers discuss the importance of supporting small businesses and the value they provide compared to larger retailers like Walmart.

The challenges of managing money as a small business owner [00:19:40] The speakers talk about how small business owners, even those who make a lot of money, often struggle with managing their finances and making deliberate spending decisions.

The importance of executing ideas and choosing practical businesses [00:23:31] The speakers emphasize the need for entrepreneurs to not just have good ideas, but also the ability to implement them. They discuss the higher chances of success in practical businesses that fulfill essential needs.

The decision-making process of becoming a small business owner [00:28:48] Discussion on the factors and considerations involved in deciding to become a small business owner.

The misconceptions about being a small business owner [00:28:48] Exploration of common misconceptions and stereotypes surrounding small business ownership.

The importance of hard work and taking care of customers [00:28:48] Emphasis on the significance of hard work and providing excellent customer service in running a successful business.

Links and Mentions:

Join the Fraternity of Excellence https://fraternityofexcellence.com/

Join our Free Facebook Group Path to Excellence

Follow Jeff Higgins:

Instagram @jeffhig Twitter @JeffreyHiggins

Follow Anthony Migliorino:

Instagram and Twitter: @peacefulfathers

Follow Zac Small

Instagram and Twitter: @zacsmall_

Join us at The Mission of Excellence in Charlotte on October 14th. https://www.missionofexcellence.com/

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