Encounter with Pat Miller, Founder of the Idea Collective Small Business Incubator

Entrepreneur Encounters

If you are ready to stop growing your small business alone, you need to listen to this episode of Entrepreneur Encounters, where I talk with Pat Miller, the founder of the Idea Collective Small Business Incubator.

Don't miss these great quotes from Pat.

7:16 - A lot of the small business owners I was talking to […] offer too many products to too many people out of a scarcity mindset. I need to offer all of these things. I don't want to miss any potential opportunities so I’m all things to all people. And when you're all things to all people you're nothing to nobody. And that came from the radio training. In radio we target a very specific audience with a very specific entertainment set and that's how you cut through get noticed win a target audience and build a business.

8:55 – Life is too short to build someone else’s dream.

18:12 - I’ve hired coaches. Don't ever, ever skimp on hiring a coach. A coach, who knows what they're doing, who can get right after your pain point is worth their weight in gold. A coach will send you the proposal and they'll say, “Yeah it's five thousand dollars.” You go, “five thousand dollars!” and you'll think of all the reasons not to say yes. Then you have the meeting. You have the transformational moment and you look back and think, “So I would have struggled for another three years or i could have bit the bullet and done that and had instant transformation.”

19:47 - Are you courageous enough to give your gifts to someone and do what you're supposed to be doing? Because 10, 15, 20, 25 years from now whenever you're done doing whatever you're doing, if you make a bunch of money fine, but if you did what you were supposed to do, that's the real payoff.

22:04 - You need to start by just thinking about how much am I worth every hour and how much is the outsourced person and there's probably a spread between what you charge and what they charge and you absolutely have to go capture that.

23:23 - I have to get my rest and you have to get your rest & exercise. And just understanding when it's too heavy and too tired and you're just worn out you got to take a break. There's no glory in working seven days a week. There's no glory in working until 10 o'clock and anyone that tells you hustle and grind wins, stop listening to them. Just stop listening to them.

26:25 - I didn't want to make my business reliant on Facebook's business because when you run a Facebook group you don't own the Facebook group and Mark Zuckerberg and whomever can either decide to charge you for it take it away decide you violated their protocols you don't get their email addresses you can't get in front of everybody with everything you want to say you don't have the control that you think you do with a Facebook group.

33:27 - There is a reason why you're here. There's a calling. There's something that you love to do more than anything else and that is the business. That's what you should be doing. And to have the courage to not do all the other stuff that takes a ton of guts.

For more information on the Idea Collective Small Business Incubator, please check out their website at https://ideacollectiveincubator.com/.

To learn more about MKE's Small Business Coach, visit https://mkebusinesscoach.com/