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.
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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
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3 Value Bombs
1) It’s every entrepreneur’s responsibility to KNOW their people.
2) A failure doesn’t mean the end—get up and start your journey again.
3) Understand your market and meet them where they’re at.
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(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
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