Louis, founder/CEO of DropIn, began his career launching a global supply chain venture. While lucrative, this business model resulted in some unanticipated consequences… a 12-year prison stay.
Subscribe to EOFire
- 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!
- Photos to Art – Louis’ small business resource
- The Professor, the Banker, and the Suicide King – Louis’ Top Business Book
- DropIn – Louis’ website
- Connect with Louis via email
- Free Podcast Course – Learn to create, grow, and monetize your podcast in 15 days!
3 Key Points:
- It’s every entrepreneur’s responsibility to KNOW their people.
- A failure doesn’t mean the end—get up and start your journey again.
- Understand your market and meet them where they’re at.
- Incapsula: Protects and accelerates over 4 million websites every day. Get a free enterprise trial of Incapsula’s services when you visit LP.Incapsula.com/2017Podcasts!
- Ziprecruiter – The smartest way to hire! Find out today why ZipRecruiter has been used by growing businesses of ALL sizes and industries to find the most qualified job candidates with immediate results. Post your first job on ZipRecruiter for FREE at ZipRecruiter.com/fire!
Time Stamped Show Notes
(click the time stamp to jump directly to that point in the episode.)
- [00:51] – Louis’ biggest mistake in life was trafficking drugs
- [01:52] – Currently, his area of expertise is in incentivizing a workforce
- [02:33] – Share something we don’t know about your area of expertise that as Entrepreneurs, we probably should: Not all entrepreneurs know their people. Take time to know your people
- [03:48] – Know your people better so you can delegate tasks according to their capabilities
- [04:42] – Louis’ question is, “Can you see in advance something before it becomes a problem?”
- [05:27] – Worst Entrepreneurial Moment: Louis went to Project 10X to get a developer. He didn’t know anything about tech so he also found another developer through a referral. He gave the two developers the same task, but he didn’t know how any of the technology worked. The team ended up wasting $600K within 6 months and he was given a completely busted product
- [07:13] – Entrepreneurs MUST be able to stand up and get up quickly after any failure
- [08:14] – Entrepreneurial AH-HA Moment: Louis took the analysts of a particular company to a strip club and got them drunk. He used this as an opportunity to ask them why their company wouldn’t contract him. He found out the decision maker was not on the same page as he was, so he came up with a new offer and landed the deal
- [10:10] – Look at the existing behaviors of the business you’re wanting to do business with and meet them where they’re at
- [13:15] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – “I made wrong choices”
- What’s the best piece of advice you’ve ever received? – “Not all money is good money”
- What’s a personal habit that contributes to your success? – “I wake up every morning and I pray for 5 minutes”
- Share an internet resource, like Evernote, with Fire Nation – Photos to Art
- If you could recommend one book to our listeners, what would it be and why? – The Professor, the Banker, and the Suicide King – “it’s a story about the largest private poker games ever”
- [14:45] – Louis reminds entrepreneurs to go as fast as they can and just get up every time they stumble
- 14:53 – Connect with Louis via email
1) Free Podcast Course: Learn from JLD how to create and launch your podcast!
2) Your Big Idea: Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
3) Funnel On Fire: Learn how to create a funnel that converts!