Daniel Priestley

There's a lot to unpack there. Yes. And what you've said is true. Entrepreneurship is really hard. So at the other end of the spectrum, you talked about the failure rate. Only 5% of businesses hit a million or more of revenue. 5%? In the world? Yeah, about 5%. In America. In America. In the number one place in the world to be an entrepreneur. Only 5% have hit a million in revenue. About 5%.

There's a lot to unpack there. Yes. And what you've said is true. Entrepreneurship is really hard. So at the other end of the spectrum, you talked about the failure rate. Only 5% of businesses hit a million or more of revenue. 5%? In the world? Yeah, about 5%. In America. In America. In the number one place in the world to be an entrepreneur. Only 5% have hit a million in revenue. About 5%.

It might be 6% or 7%, but it's about 5%. In the UK, it's about 5%. So 5% get to about seven figures of revenue or more. So what you're saying is absolutely true that it's not something for the lighthearted. And to be honest, I don't really convince people to do it. I help a lot of people who are doing it. And if they're already an entrepreneur and they want to be an entrepreneur, then we talk.

It might be 6% or 7%, but it's about 5%. In the UK, it's about 5%. So 5% get to about seven figures of revenue or more. So what you're saying is absolutely true that it's not something for the lighthearted. And to be honest, I don't really convince people to do it. I help a lot of people who are doing it. And if they're already an entrepreneur and they want to be an entrepreneur, then we talk.

If someone says it's not for me, I completely respect that. Entrepreneurship is a team sport, as you know. And one role is the founder, the guy who starts it and takes on the most risk at the beginning. And then another role is the people who come and be part of that entrepreneurial team. And being part of an entrepreneurial team can be incredibly rewarding financially and intangibly.

If someone says it's not for me, I completely respect that. Entrepreneurship is a team sport, as you know. And one role is the founder, the guy who starts it and takes on the most risk at the beginning. And then another role is the people who come and be part of that entrepreneurial team. And being part of an entrepreneurial team can be incredibly rewarding financially and intangibly.

And I think entrepreneurship, that shared experience of building a business is for everyone who wants that. That's definitely a thing. Being a founder, not necessarily for everyone. But here's what I'll say. Have you ever built Lego? Back in the day, yeah.

And I think entrepreneurship, that shared experience of building a business is for everyone who wants that. That's definitely a thing. Being a founder, not necessarily for everyone. But here's what I'll say. Have you ever built Lego? Back in the day, yeah.

Okay, so get a box of Lego and you look at the front of the box and you see the front of the box and you see the picture and you go, oh, that would be fun. And then you tip out all the Lego on the table and it's just a big mess. And you think, how on earth do I put this together?

Okay, so get a box of Lego and you look at the front of the box and you see the front of the box and you see the picture and you go, oh, that would be fun. And then you tip out all the Lego on the table and it's just a big mess. And you think, how on earth do I put this together?

Fortunately, they put instructions in the box and they say, put this one on this one, this piece by this piece by this piece. And if you follow piece by piece by piece, it's actually incredibly easy to build what looks like the front of the box. Now, what happens with entrepreneurship is people see someone's life on Instagram and they go, oh, I want that, right? That's the front of the box.

Fortunately, they put instructions in the box and they say, put this one on this one, this piece by this piece by this piece. And if you follow piece by piece by piece, it's actually incredibly easy to build what looks like the front of the box. Now, what happens with entrepreneurship is people see someone's life on Instagram and they go, oh, I want that, right? That's the front of the box.

But then they look at all the things that you need to do for entrepreneurship and they go, oh, I've got to hire people and create products and have a website and set up a LinkedIn post every day and I've got to do all these things. And then they feel like total overwhelm.

But then they look at all the things that you need to do for entrepreneurship and they go, oh, I've got to hire people and create products and have a website and set up a LinkedIn post every day and I've got to do all these things. And then they feel like total overwhelm.

And what actually is needed is a piece-by-piece, step-by-step approach where it's like, okay, first do this, then this, then this. And then you go through and actually you can build something that's on the front of the box. To use another analogy, we, you and I, we would jump on an airplane without even thinking twice about our safety.

And what actually is needed is a piece-by-piece, step-by-step approach where it's like, okay, first do this, then this, then this. And then you go through and actually you can build something that's on the front of the box. To use another analogy, we, you and I, we would jump on an airplane without even thinking twice about our safety.

But 100 years ago, it was one of the most dangerous things in the world to do. But they figured out the process. They figured out aerodynamic principles. And the combination of knowing the principles and knowing the process means that it's the safest way to travel. So I think entrepreneurship is the same. There's a process, there's principles.

But 100 years ago, it was one of the most dangerous things in the world to do. But they figured out the process. They figured out aerodynamic principles. And the combination of knowing the principles and knowing the process means that it's the safest way to travel. So I think entrepreneurship is the same. There's a process, there's principles.

If you follow process, if you follow principles, you can actually safely build a business. What's the mindset of someone who can succeed at launching a business? The mindset is curiosity. So it's all about conducting fast and cheap experiments. So what you're really trying to do is you're trying to have a dance with the marketplace.

If you follow process, if you follow principles, you can actually safely build a business. What's the mindset of someone who can succeed at launching a business? The mindset is curiosity. So it's all about conducting fast and cheap experiments. So what you're really trying to do is you're trying to have a dance with the marketplace.