Top 3 Lessons from a DECADE of Entrepreneurship

What are the most valuable lessons from the past decade, that will help you build a sustainable, long term successful business? That's what today's video is about.

Here are some highlights from what's covered:

- 01:02 - THE SOLO MYTH, why you shouldn't go it alone.
- 02:19 - It's not just about outsourcing or hiring employees...
- 03:10 - You've been lied to about the sole, genius entrepreneur.
- 04:29 - My #1 factor for picking a business partner.
- 04:57 - THE BUFFETT EFFECT and greedy entrepreneurs & marketers...
- 06:19 - Warren Buffet's Million Dollar Wager
- 07:43 - Why short term profit maximizing doesn't lead to long term growth.
- 08:29 - Ever feel pressured into hypey marketing?
- 09:29 - STUCK OR NOT? On playing the long game.
- 12:46 - My two keys for playing the long game.

These are the mindsets and the attitude that have allowed me to have a thriving, growing online business for over 10 years now and I hope you can take something from this video that will allow you to do the same.

[ActiveGrowth]

What have been your biggest wins and biggest failures of the decade? Let me know in a comment!

[johnhanna]

There is so much information out there on starting and operating a business that it's easy to become scattered and distracted trying to find a course of action. One of the main things I've learned during the past decade is that you should find someone you really trust, have faith in their skill set and then just follow the recipe they provide. You ( Shane ) and your team at Thrive Themes have been that for me and I can't thank you enough.

[BestFaceForward]

This channel could be much bigger! I think you have great insights and it seems much more grounded and relatable than other online business people...

[daniellee.]

Thank you for another great video. I would also like to say your videos like this are so helpful. When the road gets bumpy, I will watch a few of them on entrepreneurship or marketing tips, and they always lift my spirits and give me a brighter outlook on the future. And that reframing of mindset helps me reevaluate things and move forward instead of staying stuck in fear or pessimism. What you have to say, how you say it and your approach to life and business is inspiring, to say the least. You have a real gift for helping people, not only with your products but also with your equally valuable videos like this one.

[maliknadirali]

Shane, You inspired me so much that sometimes I secretly wish that somehow we both get lock inside a room so we may have endless discussions and I could pour out all your knowledge and perspective about everything. I try to emulate the way you talk the way you think. Don't get surprised if in future someone from the other part of the world stalks you and gives you a surprise visit. Just to say Thank-You. Cheers & Happy new year.

[walemichaelofficialtv]

Thanks Shane for this. Its building for the long term that cut it for me. Happy anniversary 🎉

[taxidermycoach]

Skills, never stop learning and careful choice of mentors. In the latter so happy to have you Shane, I always feel that you are doing your best to educate and motivate me to be the best business person I can be. Have a Happy New Year!

[StretchFletcher]

Hi Shane, wonderful. Some worthwhile nuggets in there. If I may, I, d like to leave you with a festive compliment. From the first time I saw you, about 5 years ago, I think, your easy and forthright way has been a gift. (I was at first suspicious because you weren't lounging over a Ferrari!) However, you do have a way of always being real. Aside from Thrive and all your content, you are an all-round solid individual. Or, as we say here, you're a biscuit. I would struggle to explain how much value you have given suffice to say, I really appreciate it. Happy Christmas and an even more rewarding next decade.

[kidsguitaracademy]

LOVED this video!!! The "playing the long game" lesson was exactly what I needed to hear right now.


Even more, I want to thank you for your integrity Shane. I have been running my online course business using Thrive Themes for three years now. Your honest, no B.S., approach to helping entrepreneurs like me has been a HUGE help. I've learned more from you than all of the other online business "gurus" combined. Thank you so much!!!

[jennifergrainger]

Thanks for all your great leadership, training and tools. My 3 best take away for the decade.
1 Choose wisely who influences you and what training you invest in.
2 Regualar person to person meet up with at least one person who is on the same journey for mutual support.
3 Look after your health so you don't burn out and enjoy the ride.

[RenataGilbert]

Thank You so much . I love your advice. I am your customer and absolutely love it . You saved my sanctity . I also live in your country - Ireland lol.
Happy New Year !!!!

[BlickDigital]

Thanks Shane - I appreciate your honest take on what entrepreneurship is really about: building something that brings value to others. Thank you for the reminder, we need more of this in the online space.

[kevinj]

Hi Shane, success has a HUGE amount to do with mostly 1) the existence of a good market, of sufficient size, for a long enough time and 2) doing a reasonable (or great) job in that market. In your case, the market was there and you did a GREAT job of products to satisfy the market. Work ethics, creativity, focus, and everything else fall under 2 because they have to do with filling the niche, scaling up, and being better than the competition. The first factor 1 (especially if it's a long-lived problem) makes up for a lot of mistakes and low performance. But to really hit a home run, you need both 1 and 2. And success comes fairly quickly (a few years) when you're in the sweet spot and stay there for a few years. Thank you again for your wonderful perspective videos.

[PsycheCatalyst]

Awesome perspective Shane, thanks for sharing! I love the long term take and the focus on fundamentals and creating something really valuable. What was the driver that kept you going despite all challenges, even when feeling down? A strong vision + determination?

[jennyyoon]

I love this quote by Hermann Hesse “All I wanted to do was live the life that was inside me, Why was that so hard?” Whatever I do I want it to be a reflection of my value and do good to others, which includes the business as well. I am so glad that I've found you and your company, definitely set the standard of how I love to run my business. May you be healthy, happy and prosper!

[VitruvianAlgo]

Haven being there when u started, i appreciate the insight you have shared so far. and more important i am very proud of what you have turned thrivethems into today. arguably the most valuable unlimited licence my business own till date.

i have used Thrive Themes to build funnels that turned over $1million in sales during the last decade. thanx for such an awesome product and thanx for sharing your valuable insights

[donsturgill]

Thank you, Shane. Two things I'm sure of, from my own experience: Together we can do a whole lot more than either of us can do alone ... and ... I'm more likely to strike pay dirt by digging one hole 1, 000 feet deep than by digging 1, 000 holes just one foot deep. You are appreciated.

[DKFynn]

As for what I've learned over this past decade...hmm...I'll have to ponder that.

However, watching this video has confirmed a few things for me, and given me a few insights:

1. As for the lone, genius entrepreneur, I think that, from a psychological perspective, it's good to have a "face" to go with the brand (because I think people relate better to a single person rather than a team or a faceless corporation). But of course, just as Steve Jobs, the "face" of Apple had his team, it's good to have a team of carefully-selected people who work toward the same goal.

2. I like that work ethic is the #1 thing you look for. When I saw that, I said to myself, "I need to hold myself to that standard, too." (Not that I don't have a good work ethic, but I know I can always improve in that area.)

3. As for the "greed, " or overly money-focused aspect, I think I know exactly what you mean. Of course, I want to earn money, but I want to do it in a way that provides something of value to others, and be more values-focused rather than money-focused. (To be a go-giver more than a go-getter, as in the book The Go-Giver.)

4. As for setting a long-term, sustainable goal, there's a parallel to that: picking a business model that has stood the test of time. As I think Ryan Holiday would say, if something's been around for 10 years, it'll probably be around for at least another year (and I'd guess probably much longer). That's what I consider when pursuing a business model.

5. As for your position on skill development, I couldn't agree more. The books that come to mind are Deep Work by Cal Newport and Ultralearning by Scott H. Young. Though I have barely started Ultralearning, I think both books are great for those who want to quickly acquire new, challenging skills in a reasonable amount of time.

There are more things I can say, but time limits me. However, those are my memorable takeaways.

[jeanvonoertzen]

Thanks Shane, for sharing these great insights! 👌 One question: what are the main aspects for you in the term "work ethics"?

[feed]

6:04 - Very good video, except for the capitalism part (imo). Capitalism means that the means of production are in the hands of the people, and not in control or a centralized coercive institution (the state). It has nothing to do with "as long as you're making money it's OK", or any other personal preference, or lack of principles.
And, in a world where the state has a monopoly on the means of exchange (money), on laws, on the economy as a whole (central banks), on the people's property (taxes), to say that we live in a capitalist society, I think is far-fetched.