The Money Podcast
David McCourt: Q&A With a Billionare on All Things Money!
Thursday, 2 January
Are you scared of losing everything? Do you have a problem with managing money and keeping up with your business’s finances? Are you looking to grow and scale your business and your skills from zero to success? If this is you, tune in. Today’s guest has been at zero and has made it all, Rob interviews American TV, Telecom & Cable Entrepreneur, David McCourt. Jump in and discover his inspirational journey to success, his thoughts on entrepreneurship and business and more importantly how you can do it too.
How could you go from zero to being successful? You can lose your money, but you're not going to lose your confidence, you're not going to lose other capital you have, your connections or your knowledge of an industry or business. That soft capital that you have will allow you to be able to make it again. After you lose all your money, you're starting it sort of 90% of the way there anyway, because you have people and you know what makes people tick, at least in your own industry. It's unfair for people to think that it's just their talent that allows them to make it again, it's easy to make it once you've made it before because you understand the roadmap as well. Who can I serve? What can I solve? And how can I scale?
Loving what you do should be the drive that keeps you doing what you do. If you're doing something you don't like, with the pursuit of having enough wealth so that you can then do what you like, it's a dangerous game because you're going to spend the majority of your life doing something you don't like so you can have the freedom to do what you like.
What is a fair exchange? In an entrepreneurial mind, a fair exchange is equal value given and value received. It does not necessarily mean money; it could be anything like service for education. If I can create value, who can I serve? Then I can put a fee structure around it and get my value. Fair exchange is a sweet spot between the two maximum profits, the maximum value in equal balance. What problems can I solve?
Another secret thing you can do to be successful is following trends. The good part about following trends is that when you fail, you've now limited your risk when you pick yourself up because the trend is still there and you know one way not to solve the problem and if you fail a second time, you've cut your chances of failure a lot for the next time or you've increased your chances of success.
Be fast. Speed is really important. If you want to succeed in the business world, you'll have to be fast in introducing your ideas to the world and implementing them before someone else does. Very many people have the same idea you have, so you'd better be the first.
Keep up with the trending technology. You will only prosper in your business only if you keep up with the trending technology and be sure that you will be successful.
“Once you lose all your money, it's unfair for you to think that it's just your talent that allows you to make it again, it's easy to make it once you've made it before because you understand the roadmap as well. "
“Pursue a business that you love so that if you fail in it, you fail doing something you love.”
“If you can do what you love and probably make money, it’s going to be great, but if you don't love doing what you do, it will be like you are being forced to do it”
“Entrepreneurship is solving problems.”
“If you follow trends, you'll become very successful and if you follow fads, it may not work out for you.”
“I don't want it perfect, I want it done. Done is better than perfect.”
“Plan B is always better than Plan A because Plan A was the best plan you had at that time, plan B is the best plan you have knowing everything you learned when plan A didn’t work, which is a lot.”
"If you stay on-trend, luck will find you."
“The smarter you are, the more successful you are, the more difficult it is to be a good partner.”
"Spirit without matter is motionless and matter without the spirit is expressionless."
“If I fail, I'll enjoy the ride.”
Money book by Rob Moore
ABOUT THE GUEST
David McCourt is an Irish-American entrepreneur with experience within the telecom and cable television industries. He was an early contributor to the development of transatlantic fibre networks and has founded and bought many companies in various countries. McCourt grew up in Watertown, Massachusetts, and is a graduate of Georgetown University.
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
Rob’s official website: https://robmoore.com/
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