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All right, so are you ready to dive in

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and like really explore

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how to make your business idea a reality?

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Let's do it.

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Awesome.

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So we are taking a deep dive today

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into a podcast episode all about that.

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Okay.

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It's called Unrivaled Strategies

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for Turning Your Business Idea into Reality.

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Catchy title.

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Yeah, right.

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So we're gonna break it all down,

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give you the need to know info,

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and hopefully help you avoid some of the common pitfalls.

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Sounds good.

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You know what really stood out to me in this episode?

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What's that?

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The way they compare launching a business

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to like planting a seed.

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Oh yeah, I remember that.

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Just like the seed needs the right conditions, you know?

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To sprout and grow.

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Your idea also needs that careful nurturing.

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Oh, totally.

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And you gotta protect it

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from those unexpected challenges too.

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Like Hungry Deer, remember that part?

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Exactly.

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I mean, who knew Hungry Deer

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could be such a threat to entrepreneurs?

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Right.

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You never know what's gonna come along

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and try to munch on your dreams.

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That's so true.

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But jokes aside, it really highlights

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how important that environment is.

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You know the one your business is gonna be growing in.

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For sure.

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And that starts with really nailing down your idea.

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Absolutely.

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Crystal clarity is key here.

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Okay, so what does that actually look like?

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So you gotta know the exact problem you're solving, right?

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Then who are you solving it for?

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And this is crucial.

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Why is your solution the best out there?

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Hmm, that's a good point.

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Yeah.

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If you're not enough to just have a cool idea,

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you gotta explain why anyone should care.

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You got it.

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And that's where your value proposition comes in.

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Value proposition.

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Yeah, have you heard of that before?

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I have, but honestly, I'm still trying to wrap my head

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around what it actually means.

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No worries.

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It's basically what makes your idea uniquely valuable

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to your target audience.

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Okay, so give me an example,

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because I'm a little lost still.

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All right, imagine you're creating a new workout shoot,

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right?

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Your value proposition could be that it offers

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way better art support,

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specifically for people with flat feet.

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Okay.

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And that prevents injuries and boosts performance,

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which is something other shoes just don't do.

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I see, so it's all about that unique benefit

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that sets you apart.

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Exactly.

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Okay, that makes a lot more sense now.

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Good.

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Now let's talk about something I know can be kind of daunting.

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Oh, what's that?

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The dreaded business plan.

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Ugh.

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Yeah, I used to think those were just long,

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boring documents.

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I hear ya.

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I mean, who actually enjoys writing those things right?

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Right.

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But this episode had a really interesting take on it.

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Yeah, they compared a business plan to a treasure map.

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A treasure map.

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I know, right?

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Sounds a little cheesy at first.

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It kinda does.

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But when you think about it, it actually makes sense.

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Okay, I'm listening.

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Because it highlights just how crucial it is

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to have a roadmap.

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A roadmap.

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Yeah, to guide you through all the uncharted territory

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of starting a business.

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Hmm.

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So instead of seeing a business plan as like this chore,

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Yeah.

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I should be looking at it as a tool

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to help me navigate those inevitable challenges.

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Exactly.

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And ultimately lead you to the buried treasure.

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Which is a successful business.

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You got it.

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Okay, I like that analogy a lot better.

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Right.

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It's way more motivating.

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And a well-structured business plan.

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It includes some essential parts,

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like your executive summary.

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Executive summary.

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That's basically your elevator pitch.

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It needs to be super concise and attention grabbing,

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quickly conveying the heart of your idea.

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Okay, so it's like the first impression.

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Exactly.

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Then you've got your market analysis.

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Okay.

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Which is where you show off your research.

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Research.

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Yeah.

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Like prove you really understand your target audience,

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their needs, and even your competitors.

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That's so important.

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I've totally made impulse purchases before

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and later realized I didn't even need the thing.

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Oh yeah, I've been there too.

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It's like buyer's remorse central.

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Totally.

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So market research is key.

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It is.

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And then there are the financials.

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Which I know can be a bit intimidating.

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Yeah, tell me about it.

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Your numbers aren't really my forte.

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Totally understandable.

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But understanding your financial projections,

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you know, things like your revenue streams and expenses,

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it's super critical.

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I know it's not the most exciting part.

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It's really not.

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But it's how you'll track your progress

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and make sure your business can actually stay afloat.

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Okay, so it's like knowing how much treasure

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you need to find to make the whole adventure worthwhile.

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Exactly.

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All right, so we've got our idea defined

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in our treasure map,

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AKA the business plan, ready to go.

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Looking good.

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What's next?

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We need some funding to set sale right.

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You got it.

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Every great adventure needs a little financial fuel.

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And that's where things can get a little tricky.

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Absolutely.

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You know, they actually shared a story in the episode

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about completely bombing an investor pitch.

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Oh no.

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Because they didn't understand the investor's perspective.

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It was a good reminder that finding the right funding

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is just as crucial as understanding your target market.

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Makes sense.

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Different funding sources

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probably have different expectations.

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Totally, they have different requirements, you know.

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So it's all about finding that perfect fit

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for your specific needs and goals.

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So where should someone even begin

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when looking for funding?

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Well, one option is bootstrapping,

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which basically means starting with your own resources

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and being really smart with your spending.

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So it's like setting sale with the supplies

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you already have and making the most of them.

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Exactly.

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It's about proving your concept

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before you go looking for outside investment.

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Okay, I like that.

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Yeah.

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Then there's crowdfunding,

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which seems to be super popular these days.

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It is.

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Platforms like Kickstarter and Indiegogo

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let you tap into this huge pool of potential supporters.

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Okay.

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People who genuinely believe in your idea.

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You pitch your idea to the world through a video,

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hoping to get people excited enough to back you financially.

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So it's all about sharing your passion

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and inviting people to join your journey.

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Exactly.

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It's a really cool way

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to build a community around your idea.

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But what about investors?

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I feel like that's a whole other bowl game.

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You're right.

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Making investors can be way more complex.

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How so?

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Well, whether they're angel investors, venture capitalists,

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or even friends and family,

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investors are looking for a return on their investment.

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They wanna see that their money is gonna grow.

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That makes sense.

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So you really need to demonstrate

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the potential of your idea.

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Absolutely.

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And also your ability to execute your plans,

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scale your business, and ultimately generate profit.

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So it's about convincing them to join your crew

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because they believe you can find that buried treasure.

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Exactly.

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You gotta show them you have the skills

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and the plan to make it happen.

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Okay, so we've talked about the why, the how,

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and the money behind an idea.

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It's all coming together.

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But what about the people

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who will actually help bring it to life?

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Yeah.

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We need a crew, right?

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Oh, for sure.

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Even pirates need a good crew.

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Exactly.

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And that brings us to the topic

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of building a high-performing team.

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It's so important.

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And you know, the episode really stresses

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that you can't do it all alone.

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Oh, totally.

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The lone wolf entrepreneur thing is kind of myth.

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Yeah, it's much more about building a team.

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A crew of talented people who get your vision.

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People who can help you weather those inevitable storms

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that come with, you know, building a business.

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And finding those people can be tough.

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They actually shared a story in the episode

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about hiring someone who seemed amazing on paper.

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Oh, yeah, I remember that.

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But ended up being a terrible fit

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for their company culture.

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It happens.

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And it just goes to show that skills and experience

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aren't the only things that matter.

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Totally.

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Core values and a strong cultural fit

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are super important, too.

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So true.

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When your team members are aligned with your core values

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and how you work,

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it just creates a much better environment.

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One where everyone can actually thrive.

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Absolutely.

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It's like having a crew that works together

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in sync rowing in the same direction with shared purpose.

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Love that analogy.

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And that brings us to something else they talked about.

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Defining roles within your team.

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Yes, even if you're not ready to hire right away,

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just outlining those key roles and responsibilities,

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you know, for the future,

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it's gonna help you attract the right people

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when the time is right.

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So it's like having a blueprint for your dream team,

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making sure everyone knows their part

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in the grand scheme of things.

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Exactly.

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You're mapping out the different positions on your ship

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and the skills you need to, you know,

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to sail it effectively.

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Okay, I'm with you.

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So you've got your team assembled.

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What's next?

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You know, you need to make sure everyone's on the same page.

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Yeah.

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Inspire them with a shared sense of purpose.

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Yeah, people wanna feel like their work matters.

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Exactly.

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And that's even more powerful when everyone is aligned

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00:08:17,680 --> 00:08:19,000
with that bigger vision.

283
00:08:19,000 --> 00:08:20,000
Totally.

284
00:08:20,000 --> 00:08:23,120
It's like inspiring your crew with a map

285
00:08:23,120 --> 00:08:25,360
that not only leads to Trevor,

286
00:08:25,360 --> 00:08:28,600
but also charts a course towards something meaningful.

287
00:08:28,600 --> 00:08:30,040
You know, something they can all feel good

288
00:08:30,040 --> 00:08:31,360
about contributing to.

289
00:08:31,360 --> 00:08:32,560
I love that.

290
00:08:32,560 --> 00:08:35,400
That shared purpose can really make all the difference,

291
00:08:35,400 --> 00:08:37,600
especially when things get tough.

292
00:08:37,600 --> 00:08:38,440
For sure.

293
00:08:38,440 --> 00:08:39,280
Yeah.

294
00:08:39,280 --> 00:08:40,400
Now there's another strategy they mentioned

295
00:08:40,400 --> 00:08:41,280
that I thought was interesting.

296
00:08:41,280 --> 00:08:42,120
What's that?

297
00:08:42,120 --> 00:08:42,960
Outsourcing.

298
00:08:42,960 --> 00:08:44,480
Ah, yes.

299
00:08:44,480 --> 00:08:46,480
It's a powerful tool,

300
00:08:46,480 --> 00:08:49,120
but it's important to use it strategically.

301
00:08:49,120 --> 00:08:49,960
Oh, so?

302
00:08:49,960 --> 00:08:53,200
Well, while building a strong internal team is essential,

303
00:08:53,200 --> 00:08:55,040
there are times when it makes sense

304
00:08:55,040 --> 00:08:57,280
to bring in outside expertise.

305
00:08:57,280 --> 00:08:58,120
Okay.

306
00:08:58,120 --> 00:08:59,520
You know, for specific tasks

307
00:08:59,520 --> 00:09:02,520
or things that don't require a full-time employee.

308
00:09:02,520 --> 00:09:04,360
So it's like calling on a specialist navigator

309
00:09:04,360 --> 00:09:06,280
for a particularly tricky part of the journey.

310
00:09:06,280 --> 00:09:07,120
Exactly.

311
00:09:07,120 --> 00:09:08,320
Someone with specific skills

312
00:09:08,320 --> 00:09:10,280
to help you get through a challenging phase.

313
00:09:10,280 --> 00:09:11,640
Makes sense.

314
00:09:11,640 --> 00:09:14,040
But outsourcing shouldn't replace your core team, right?

315
00:09:14,040 --> 00:09:14,880
Right.

316
00:09:14,880 --> 00:09:16,880
You don't want to compromise your brand identity.

317
00:09:16,880 --> 00:09:20,480
Certain tasks, especially those tied to your values

318
00:09:20,480 --> 00:09:22,000
or customer experience.

319
00:09:22,000 --> 00:09:22,840
Yeah.

320
00:09:22,840 --> 00:09:23,840
Those are best handled by people

321
00:09:23,840 --> 00:09:26,720
who are fully invested in your company's mission.

322
00:09:26,720 --> 00:09:28,640
So it's all about finding that balance,

323
00:09:28,640 --> 00:09:30,840
knowing when to call in reinforcements

324
00:09:30,840 --> 00:09:33,480
and when to trust your core crew.

325
00:09:33,480 --> 00:09:34,320
Well said.

326
00:09:34,320 --> 00:09:35,880
All right, so now we've got our crew assembled

327
00:09:35,880 --> 00:09:37,320
and everyone's ready to go.

328
00:09:37,320 --> 00:09:38,600
Time to set sail.

329
00:09:38,600 --> 00:09:40,360
So it's time for execution.

330
00:09:40,360 --> 00:09:41,200
Mm.

331
00:09:41,200 --> 00:09:42,840
Launching and scaling the business smartly.

332
00:09:42,840 --> 00:09:45,400
And they had a really cool analogy for this stage,

333
00:09:45,400 --> 00:09:48,800
comparing it to preparing for and running a race.

334
00:09:48,800 --> 00:09:49,640
Oh, I like that.

335
00:09:49,640 --> 00:09:51,520
So instead of just taking off running,

336
00:09:51,520 --> 00:09:53,200
you gotta make sure you've got the right training,

337
00:09:53,200 --> 00:09:54,040
the right gear.

338
00:09:54,040 --> 00:09:54,880
Exactly.

339
00:09:54,880 --> 00:09:56,800
And the stamina to go the distance.

340
00:09:56,800 --> 00:09:59,160
Because rushing into things without preparing

341
00:09:59,160 --> 00:10:01,120
can lead to some major wipeouts.

342
00:10:01,120 --> 00:10:02,280
Big time.

343
00:10:02,280 --> 00:10:04,040
The episode emphasizes the importance

344
00:10:04,040 --> 00:10:07,240
of having the right systems and processes in place.

345
00:10:07,240 --> 00:10:08,760
As well as a clear understanding

346
00:10:08,760 --> 00:10:11,040
of your operational capabilities.

347
00:10:11,040 --> 00:10:11,880
Okay.

348
00:10:11,880 --> 00:10:14,880
And they highlight three key execution strategies.

349
00:10:14,880 --> 00:10:16,720
First up, pilot testing.

350
00:10:16,720 --> 00:10:17,560
Pilot testing.

351
00:10:17,560 --> 00:10:20,200
Yeah, it's essentially launching on a smaller scale

352
00:10:20,200 --> 00:10:23,640
to gather feedback and refine things before going all in.

353
00:10:23,640 --> 00:10:24,640
Sort of like a test run.

354
00:10:24,640 --> 00:10:25,480
Exactly.

355
00:10:25,480 --> 00:10:27,800
It's like taking your ship out for a spin

356
00:10:27,800 --> 00:10:29,680
before embarking on the big voyage.

357
00:10:29,680 --> 00:10:32,640
Okay, so you can identify any potential problems early on.

358
00:10:32,640 --> 00:10:33,480
Exactly.

359
00:10:33,480 --> 00:10:35,560
And make adjustments before it's too late.

360
00:10:35,560 --> 00:10:36,880
Makes sense.

361
00:10:36,880 --> 00:10:38,360
What's the second strategy?

362
00:10:38,360 --> 00:10:40,680
Embracing customer feedback.

363
00:10:40,680 --> 00:10:41,800
Even the negative kind.

364
00:10:41,800 --> 00:10:43,120
Especially the negative kind.

365
00:10:43,120 --> 00:10:44,280
Now your customers,

366
00:10:44,280 --> 00:10:46,880
they're your most valuable source of information.

367
00:10:46,880 --> 00:10:48,720
They can tell you what's working, what's not,

368
00:10:48,720 --> 00:10:49,840
and how to improve.

369
00:10:49,840 --> 00:10:51,880
So it's like listening to the whispers of the wind

370
00:10:51,880 --> 00:10:53,320
and the currents of the ocean.

371
00:10:53,320 --> 00:10:54,160
I like that.

372
00:10:54,160 --> 00:10:55,880
Constantly adjusting your course

373
00:10:55,880 --> 00:10:57,240
based on the feedback you're getting.

374
00:10:57,240 --> 00:10:58,600
Beautifully put.

375
00:10:58,600 --> 00:11:02,160
And the third strategy is all about scaling smartly.

376
00:11:02,160 --> 00:11:03,360
Scaling smartly.

377
00:11:03,360 --> 00:11:06,000
Yeah, you know rapid growth is usually the goal.

378
00:11:06,000 --> 00:11:06,840
Yeah.

379
00:11:06,840 --> 00:11:07,920
But expanding too quickly

380
00:11:07,920 --> 00:11:10,680
without the right infrastructure and support systems.

381
00:11:10,680 --> 00:11:11,520
Yeah.

382
00:11:11,520 --> 00:11:12,400
It can lead to disaster.

383
00:11:12,400 --> 00:11:13,440
That makes sense.

384
00:11:13,440 --> 00:11:15,160
It's like trying to build a bigger ship

385
00:11:15,160 --> 00:11:16,680
without reinforcing the hull.

386
00:11:16,680 --> 00:11:17,880
Perfect analogy.

387
00:11:17,880 --> 00:11:21,480
You risk capsizing under the weight of your own success.

388
00:11:21,480 --> 00:11:24,000
Okay, so it's not just about going faster.

389
00:11:24,000 --> 00:11:24,840
Right.

390
00:11:24,840 --> 00:11:25,680
It's about building a ship

391
00:11:25,680 --> 00:11:28,040
that can handle the increasing speed and cargo.

392
00:11:28,040 --> 00:11:28,960
Exactly.

393
00:11:28,960 --> 00:11:30,880
It's about making strategic investments

394
00:11:30,880 --> 00:11:32,800
to support sustainable growth.

395
00:11:32,800 --> 00:11:34,080
I'm getting it.

396
00:11:34,080 --> 00:11:36,040
Now this next point really resonated with me.

397
00:11:36,040 --> 00:11:37,040
Okay, I'm curious.

398
00:11:37,040 --> 00:11:38,680
Flexibility and adaptability.

399
00:11:38,680 --> 00:11:40,520
Yeah, yes.

400
00:11:40,520 --> 00:11:42,480
Crucial skills for any entrepreneur.

401
00:11:42,480 --> 00:11:43,960
Because let's face it,

402
00:11:43,960 --> 00:11:46,360
unexpected challenges are bound to happen.

403
00:11:46,360 --> 00:11:47,200
They are.

404
00:11:47,200 --> 00:11:50,200
So being able to pivot, adjust your sales,

405
00:11:50,200 --> 00:11:51,960
and embrace new information.

406
00:11:51,960 --> 00:11:54,360
It's essential for long-term success.

407
00:11:54,360 --> 00:11:56,200
It's like being prepared to change course

408
00:11:56,200 --> 00:11:58,160
if you encounter a storm.

409
00:11:58,160 --> 00:12:00,320
Or discover a more efficient route to your destination.

410
00:12:00,320 --> 00:12:01,160
Exactly.

411
00:12:01,160 --> 00:12:04,760
Flexibility is key in the ever-changing world of business.

412
00:12:04,760 --> 00:12:06,520
It really is all about the journey, isn't it?

413
00:12:06,520 --> 00:12:08,840
It's not just about reaching the destination.

414
00:12:08,840 --> 00:12:10,600
No, it's about what you learn along the way.

415
00:12:10,600 --> 00:12:11,440
Exactly.

416
00:12:11,440 --> 00:12:14,200
The real growth comes from the experiments, the pivots,

417
00:12:14,200 --> 00:12:16,440
and those moments when you gotta adjust your sales

418
00:12:16,440 --> 00:12:18,440
to navigate the unexpected.

419
00:12:18,440 --> 00:12:21,120
Yeah, you have to embrace that uncertainty.

420
00:12:21,120 --> 00:12:22,640
Be open to learning.

421
00:12:22,640 --> 00:12:24,160
That's what makes it all worthwhile.

422
00:12:24,160 --> 00:12:25,320
I couldn't agree more.

423
00:12:25,320 --> 00:12:26,800
So let's do a quick recap.

424
00:12:26,800 --> 00:12:27,640
All right.

425
00:12:27,640 --> 00:12:29,240
We've covered a lot of ground in this deep dive.

426
00:12:29,240 --> 00:12:31,240
We talked about defining your idea,

427
00:12:31,240 --> 00:12:33,000
crafting that solid business plan,

428
00:12:33,000 --> 00:12:35,440
exploring all the different ways to get funding,

429
00:12:35,440 --> 00:12:37,960
and of course, building that amazing team.

430
00:12:37,960 --> 00:12:42,280
And then we dove into executing your vision with precision,

431
00:12:42,280 --> 00:12:45,240
things like pilot testing, embracing customer feedback,

432
00:12:45,240 --> 00:12:46,680
and scaling strategically.

433
00:12:46,680 --> 00:12:49,280
And let's not forget those crucial skills,

434
00:12:49,280 --> 00:12:51,200
flexibility, adaptability,

435
00:12:51,200 --> 00:12:53,320
and that constant willingness to learn

436
00:12:53,320 --> 00:12:54,720
and adjust courses you go.

437
00:12:54,720 --> 00:12:56,600
Because remember, you're a skilled navigator,

438
00:12:56,600 --> 00:12:59,240
not just blindly following a rigid map.

439
00:12:59,240 --> 00:13:00,720
So true.

440
00:13:00,720 --> 00:13:04,480
But this deep dive, it's just the beginning of your adventure.

441
00:13:04,480 --> 00:13:05,320
That's right.

442
00:13:05,320 --> 00:13:06,680
Now it's time to take all these insights

443
00:13:06,680 --> 00:13:09,040
and apply them to your own unique situation.

444
00:13:09,040 --> 00:13:10,360
Make them your own.

445
00:13:10,360 --> 00:13:11,200
And the episode ends

446
00:13:11,200 --> 00:13:13,000
with a really thought-provoking question.

447
00:13:13,000 --> 00:13:14,600
Oh yeah, I loved this part.

448
00:13:14,600 --> 00:13:17,600
They ask, what's one small step you can take today

449
00:13:17,600 --> 00:13:19,080
to move your idea forward?

450
00:13:19,080 --> 00:13:20,760
Such a good question.

451
00:13:20,760 --> 00:13:21,640
Because it really highlights

452
00:13:21,640 --> 00:13:23,280
that you don't have to have everything figured out

453
00:13:23,280 --> 00:13:24,000
to get started.

454
00:13:24,000 --> 00:13:24,840
Not at all.

455
00:13:24,840 --> 00:13:26,960
But a small step can make a huge difference.

456
00:13:26,960 --> 00:13:28,000
Absolutely.

457
00:13:28,000 --> 00:13:29,000
It could be something as simple

458
00:13:29,000 --> 00:13:30,720
as writing down your idea

459
00:13:30,720 --> 00:13:32,680
or researching your target audience,

460
00:13:32,680 --> 00:13:34,640
maybe reaching out to a potential mentor.

461
00:13:34,640 --> 00:13:36,240
All great ideas.

462
00:13:36,240 --> 00:13:38,800
The key is to just start building that momentum

463
00:13:38,800 --> 00:13:41,400
and keep moving forward one step at a time.

464
00:13:41,400 --> 00:13:42,840
One step at a time,

465
00:13:42,840 --> 00:13:45,400
just like those first steps on a long voyage.

466
00:13:45,400 --> 00:13:49,400
And remember, the world needs your ideas.

467
00:13:49,400 --> 00:13:51,400
So don't be afraid to nurture them,

468
00:13:51,400 --> 00:13:53,240
share them, and bring them to life.

469
00:13:53,240 --> 00:13:54,360
That's what it's all about.

470
00:13:54,360 --> 00:13:57,080
We really hope this deep dive has given you the insights

471
00:13:57,080 --> 00:13:59,400
and the inspiration to take that next step

472
00:13:59,400 --> 00:14:01,120
on your entrepreneurial journey.

473
00:14:01,120 --> 00:14:03,480
Keep exploring, keep learning.

474
00:14:03,480 --> 00:14:04,880
And most importantly,

475
00:14:04,880 --> 00:14:07,280
keep that entrepreneurial fire burning bright.

476
00:14:07,280 --> 00:14:25,280
Until next time, happy sailing.