Ep. 316 – The Idea Jar


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Episode Transcript

What’s up? What’s up? What’s up, everybody? Welcome back to THE a.m guys, welcome back to five minute rants. I’m your host, Michael Abernathy. And welcome back to the show predicated on the journey of life and business. Hey guys real quick, if you know somebody whose life would be better listen to this show, would you partner with me in impacting and changing lives and share it with them? Appreciate it.

Well, to jump right in, I want to talk about What I call the idea jar. So when Andrew and I started a business, and when we started working together, I, I normally tend to fall on the bigger picture visionary side with a lot of future thinking and a lot of future focus and seeing where things are going. So I, I’m really good with pattern recognition, rhythm. And in that sense, just being able to see like entrepreneurially, how things are going and changing. And I want to talk really more personally about a problem that that caused me. So when Andrew and I started a business, we had a discussion, and we decided we didn’t want debt. And we didn’t want to operate in debt. And so we started from scratch, we start from the ground up. And it was a hard decision. And it actually was a hard journey because of it. But we didn’t change it in honestly, it was one of the best decisions we’ve ever made. It really helped develop us to be sharp. And it really helped develop us to where we’re at.

And so anyways, that being said, I found myself often seeing patterns in the industry, seeing patterns in society culture where things are going, like I talked about AI and I don’t have anything to document this. So there’s no fact check me on this. But I’ve talked about AI and where AI was going over 10 years ago. And then here we are today. The problem that this caused me was i i Two things happened, life was moving faster than it actually was. And then the second thing was is I had all these ideas, but no leverage to be able to do anything with them. I wasn’t able to do anything with them. Because we didn’t have any leverage, we didn’t have capital, we didn’t have time, and we didn’t have any resources. To do anything with.

Capital normally creates resources. The reason why most people want capital or money is because it allows you to open a door to resources that then can produce work, and then can execute on the idea. And that’s why a lot of venture capitalists and a lot of the capital raising side of things works very well, because the venture capitalists are simply the door to production, the money is the door to the work is the door to production, and it is the door that is allows businesses come in be created and then produce more capital. And so both sides win. But anyways, the problem that caused me was I had all these ideas, I had all these different models coming out of me and all this other stuff happening. But yet we’re stuck in phase one, we’re stuck building What we originally need to build, we’re stuck building the foundation.

And so I didn’t know What to do with all this stuff. And our mentor at the time was like, Hey, you’re looking at the mountain, you’re looking at the next mountain you need to climb while you’re walking up this one and you’re excited about the next one, but you’re not looking at this one. And your personal journey really needs to be. That’s an awesome idea. So you document it, and then you put it away in the idea jar, and then you put your head back down and keep working until you’re up on top of this mountain. And that really profoundly changed how I looked at the day to day and how I did business. Because it really was me operating in a more long term way. And then it was delayed self gratification, because it’s self gratification is I want to build more, I want to create more, I want to I really want to continue to innovate and drive innovation that’s that for whatever reasons, a deep passion is part of how I made it’s a deep passion of mine. I enjoyed doing this.

And when we talked about the idea jar, I literally implemented that. And it really helped me and so if you’re just starting in business, but you have a drive to create, you have a drive to do more. Patience is so key, and the patience not just for not just for things to happen. But the continual patience to get up and say nope, I can’t look at that focus on that right now. What matters more is the foundation that I’m on right now to make sure that’s in a place before I can leave. Because What happens is, when you have entrepreneurial sight, you will often leave What you’re doing before it’s ready to be left. And then as a result, it falls apart without you. And then you’re going backwards now. And so you get up you leave. And then you’re it’s not ready to be left. It’s not self sustaining, and then it falls apart and then you’re going backwards to rebuild everything that’s falling apart and you just can’t seem to move forward.

It’s because you’re not sticking on What you need to stick on long enough for actually to be self sufficient, and you’re not actually delaying your gratification and allowing it to happen at the appropriate time. And this was a personal problem of mine and I just wanted to share it with you and so hope it helped Somebody out there and I’ll catch you later peace

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