Mastering the Waves of Entrepreneurship with Rodric Lenhart

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11/13/2023

Show Notes:

“Do what you love, and you’ll never work a day in your life.” Such a powerful and timeless quote, but how does that translate to the real world? Our guest today sheds light on this philosophy!

Meet Rodric Lenhart. Rodric is a seasoned entrepreneur, speaker, and professional coach. With over 30 years of entrepreneurship experience, he has built many different ventures and turned them into multi-million dollar companies in both product and service industries. Rodric’s passion for entrepreneurship is his main driver for helping clients worldwide implement massive change in their lives and businesses. He’s also a best-selling author of the book called ‘Million Dollar Flip Flops,’ revealing his invaluable insights and experiences from the business world. In this book, Rodric shares the keys to unlocking your fullest potential, combining razor-sharp wit, humor, and real-world examples.

Rodric’s approach is focused on designing businesses that fuel your life. Hi guides his clients toward building businesses that not only thrive financially but also enrich their lives on a profound level.

In this episode of the Think Business with Tyler podcast, we talk about the importance of knowing your business purpose, why alignment between your business mission and personal purpose is crucial, why wholehearted dedication to your business is the ultimate secret to success, and how to make the right decisions for your business.

If you want to transform your passion into a fulfilling business, don’t miss this opportunity to hear Rodric’s valuable lessons.

Guest-At-A-Glance

💡 Name: Rodric Lenhart

💡 What he does: Rodric is a lifelong entrepreneur, speaker, and professional coach.

💡 Noteworthy: He is a best-selling author, and his book is called ‘Million Dollar Flip Flops.’

💡 Key Quote: “It’s designing a business that fuels your life, not the other way around. And ultimately you hear it: ‘Do what you love, the money will come,’ there’s 1000 cliches, but it’s true. You’re going to put more of your heart and soul into something when it doesn’t feel like work.”

💡 Where to find Rodric: LinkedIn

Key Insights

What is your business ‘WHY?’ For an ambitious entrepreneur, it’s easy to get caught up in the everyday business grind, but the real question you should ask yourself is, ‘Why do I do what you do?’ As Rodric nicely puts it, when you understand the ‘WHY’ behind your business, you will be much better equipped to pursue your goals and align them with your values.

He explains, “We get wrapped up in our business and right growth and growth and growth for growth’s sake. And I was being interviewed yesterday, and we were talking about scaling. And I know a lot of your folks will talk about scaling. And he was asking me, how do you scale? He was a younger fellow, but I said, why do you want to scale? And he couldn’t answer. It’s knowing why we do anything at all. That’s why I’m here. That’s what I do.”

Align your business mission with your purpose. It’s important to align your business mission statement with your statement purpose because if they’re conflicted, you’ll likely feel unhappy and unsuccessful. Examine this alignment as a KPI for your well-being. Rodric says, “If your business mission statement and that statement of purpose are diametrically opposed. You’re going to be unhappy, and it’s one of those KPIs that you can look at and go, well, this makes sense. I want to be this person, but I’m building this business. Why am I miserable every day?”

When you put your heart and soul into your business, it’s almost impossible not to be successful. Wholehearted dedication to your business often leads to happiness and fulfillment. It’s about creating a business that empowers your life rather than dictates it. According to Rodric, this is the ultimate secret sauce to success.

He explains, “What I see in Statement of Purpose slash North Star from a lot of people, it’s more time, more time with their families, more time to do the things they really want to do and what you help people with what I help people. It’s designing a business that fuels your life, not the other way around. And ultimately you hear it: ‘Do what you love, the money will come,’ there’s 1000 cliches, but it’s true. You’re going to put more of your heart and soul into something when it doesn’t feel like work. And if that thing fuels you as a person at a very base level, and you’ve taken the time to identify what those things are, you can’t not be successful.”

Make decisions based on your values. When your choices are rooted in your values, and they resonate with your authentic self, they are more likely to be right for you. Rodric explains, “People aren’t afraid of change. They’re afraid of making the wrong decision. And there’s a big difference between those two things. So the more right your decision can be for you, and that’s where the authenticity piece of waves comes in. It’s not for your wife. This is very personal. It’s okay to be selfish when you when you work on this. If it’s the right decision for you, you’re unlikely to slide back.”

Top Quotes

“I sold my last company last year. And albeit retired, I took a whole 6 months off, and I’m sure every entrepreneur listening knows it’s simply an impossibility not to keep creating new businesses like you’re wired that way, and it just is what it is.”

“Your statement of purpose is that North Star. So that is that finesse. Your values are the nuts and bolts of who you are and, how you show up in the world, and how you want to arrive for your partner, your business associate, your pastor, your mom, your dad. Doesn’t matter who it is. The statement of purpose is that elevator speech of this is who I am at my core.”

“Ultimately, what you develop is three layers of decision-making. […] So it gives you that tool, and then if it makes it through all 3 layers, it makes it through your statement of purpose as well, then there’s a pretty good chance that’s the right thing for you to do.”

“That’s where coaching is so important. Having somebody with no skin in the game that can take an objective look at what you’re doing, and that’s what the system builds is you have that at your disposal at all times in your life.”

“For me, journaling has really achieved three things. And the first one is understanding trends. Just like you look at trends in your business, there’s trends in the way you operate as a human being. And if you start to notice the same things happening again and again and again. […] Number 2, it has allowed me to be much more grateful in for the things that that were dreams 12 months ago that are reality now. […] And the last piece of that is just having those special moments, and it sounds a little woo woo, but human beings, we have a negativity bias, and it takes a hundred positive experiences to eliminate one negative experience. And I think that keeps people from living their highest and best life.”

“It was a survival mechanism. Knowing that there was a lion was much more important than the deliciousness of a berry bush. One kills me, and I’m not around anymore. And the other one gets me by another day. So, the reason negative experiences are more painful and more memorable is so you don’t die.”

“The cost of anything is the amount of life you exchange for it.”

Links

Million Dollar Flip Flops

Million Dollar Flip Flops book

The Death of Ivan Ilyich by Tolstoy

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