Michael Dermer founded the first company to reward for healthy behavior, and after a decade he watched it almost collapse in the 2008 financial crisis. Michael not only overcame this struggle to sell his company and become an industry pioneer, but also discovered The Lonely Entrepreneur methodology to help entrepreneurs with the struggle.
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- WunderList – Michael’s small business resource
- Leading at the Speed of Growth – Michael’s Top Business Book
- The Lonely Entrepreneur – Michael’s Book
- Lonely Entrepreneur – Michael’s website
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3 Key Points:
- Always be humble and be a learner.
- Luck is not just luck—it’s where effort meets opportunity.
- Entrepreneurs deal with a very particular set of struggles.
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Time Stamped Show Notes
(click the time stamp to jump directly to that point in the episode.)
- [00:59] – Michael began as a corporate lawyer
- [01:19] – From his corporate law job he started working on his own company
- [01:30] – JLD shares his experience with health assessments
- [02:15] – If you are a lonely entrepreneur, you need to motivate yourself
- [02:45] – One BIG and Unique Value Bomb: “If the normal solutions aren’t going to work, how do we start looking at things from a different perspective… because you can’t compete on the same battlefields other people are competing [on].”
- [04:06] – Worst Entrepreneurial Moment: He had to tell his family that he was going to try everything he could to save his company, but he actually wasn’t sure that he could…
- [05:40] – Be humble and be a learner
- [06:38] – You have to be realistic
- [06:47] – Luck is where effort meets opportunity
- [07:27] – Entrepreneurial AH-HA Moment: “After we stabilized and sold the company, I was fortunate to stumble upon The Lonely Entrepreneur. The ability to understand and change your perspective on things was the real ah-ha moment.”
- [08:55] – The nature of the entrepreneurial beast
- [09:25] – You’re put into a struggle that people don’t understand
- [10:40] – What is the one thing you are most FIRED up about today? “I’m so excited about The Lonely Entrepreneur”
- [11:45] – Why call it The Lonely Entrepreneur? Most entrepreneurs will agree to a feeling of being lonely.
- [13:14] – There is a greater chance of feeling lonely in a larger company
- [14:02] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – “The handcuffs of a corporate job”
- What’s the best piece of advice you’ve ever received? – “If you think you’re as good as you think you are, you realize you have to change”
- What’s a personal habit that contributes to your success? – “Trying to look at things in a different way”
- 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? – Leading at the Speed of Growth – “it really hit me on the notion of changing”
- [18:15] – Connect with Michael on his website
- [18:35] – You’re not alone – the things you’re experiencing as an entrepreneur are also what we’re going through
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