David Carrico is CEO & Co-founder of PrimeMind, a new contrarian media company. He holds a diverse portfolio of angel investments and advisory board positions across media and technology.
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Resources Mentioned:
- Your Big Idea: Successful Entrepreneurs have One Big Idea. Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
- Audible – Get a FREE Audiobook & 30 day trial if you’re not currently a member!
- Wunderlist – David’s small business resource – (Sorry! This link was active when this episode was first published in 2016. This resource is no longer available.)
- This Is Water – David’s top business book
- Prime Mind – Critical, reflective exploratory journalism
3 Key Points:
- Learn when the experiment is over: don’t let sunk costs keep you in a project that’s not working.
- Give yourself the space to think, reflect, and breathe. Creativity is in the space-between moments.
- Don’t be afraid to be contrarian. Build something that you believe in.
Sponsors
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Time Stamped Show Notes
(click the time stamp to jump directly to that point in the episode.)
- [01:03] – David jokes that he enters businesses just as they’re dying: first music and now publishing
- [01:54] – David is currently focusing on user growth and not on generating revenue
- [02:30] – Has funding from a group of angel investors
- [03:18] – Worst Entrepreneurial Moment: Having to stop working with an artist who wasn’t breaking through
- [05:54] – Don’t let sunk costs dictate your future: learn when to stop digging
- [07:07] – Know where to create boundaries in business
- [08:44] – Entrepreneurial AH-HA Moment: Coming up with the idea for his new venture by giving himself the space to let go
- [09:52] – “There’s got to be a space for young people in our society to focus on things that require space and critical thinking.”
- [11:16] – “As a society, we encourage constant motion… I think for me, the greatest blessing has been learning to be present in the space-between moments.”
- [12:33] – Biggest weakness? – “My age – I’m 25, I haven’t experienced as much as my elders.”
- [13:17] – Biggest strength? – “Effective and swift decision-making.”
- [14:27] – What has David most fired up today? “Someone I admire a great deal has reached out to us.”
- [15:55] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – “Nothing. It’s the family business”
- What’s the best piece of advice you’ve ever received? – “Communication and transparency within a team is everything”
- What’s a personal habit that contributes to your success? – “Every morning I either run or meditate”
- Share an internet resource, like Evernote, with Fire Nation – Wunderlist
- If you could recommend one book to our listeners, what would it be and why? – This Is Water
- Imagine you woke up tomorrow morning in a brand new world, identical to Earth, but you knew no one. You still have all the experiences and knowledge you currently have – your food and shelter is taken cared of – but all you have is a laptop and $500. What would you do in the next 7 days? – “I would create a set of vertical content companies and spend the $500 on Facebook advertising.”
- [20:21] – Parting piece of guidance: “You never change things by fighting the existing reality. Build a new model that makes the old model obsolete.”
- [24:47] – Connect with David by email and at Prime Mind
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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