On this episode of the Tandem Talks Podcast, Carrie and Craig speak with Pete Mohr, President and Owner of Shoetopia Footwear, Entrepreneurial Coach at Simplifying Entrepreneurship, and Founder of Liquidation Roadshow. Entrepreneurs are made, not born. And to become successful, Pete suggests that aspiring entrepreneurs ask questions on how things are done today and think of how to do it better. Pete follows 4 P's: People, Processes, Products and Profit that have helped him become the "multipreneur" that he is today. He teaches that you need to have clarity on the product you are offering and the solutions it actually delivers. There is always room to grow and when you realize that something isn't working, you must let it go. Every single entrepreneur has the same 24 hour in a day. Being bogged down by emotional attachments to pet projects is simply not effective and Pete further suggests finding a coach who understands the stage your business is in to be truly effective.
HIGHLIGHTS
02:31 Developing an entrepreneur's mindset and embracing side hustling early on
07:25 Entrepreneurs are made, not born, and they find better ways of doing things
10:17 The multipreneur follows 4 P's: People, Processes, Products & Profit
14:45 Entrepreneurs need clarity to build confidence and gain momentum
19:53 Mistakes and learnings with the 4 P's: Keep testing, keep optimizing
26:11 Let go of processes that don't work to give you time
28:30 Get business partners and offer equity
31:52 Find a coach for the stage your business is actually in
37:06 Connect with Pete
QUOTES
08:22 "If you found yourself asking, why don't they do it this way? And that kind of stuff, as opposed to just accepting that that's the way it's done, I think those kinds of questions come out to entrepreneurs."
10:31 "I thought I would buy a franchise off the bat to kind of give me some structures and things like that that I could start off with. And from that perspective, I did."
11:31 "I need to have the structures and systems in place that allow me to have the right people in place, the processes in place, the products in place, so that I could generate the profit. And those are the four P's that I often talk about."
16:19 "What do I think is most important? Well, I think clarity is most important. So I always start with clarity because clarity gives you confidence and confidence builds momentum."
26:28 "The sooner you let go of something that really just isn't working, the better, because it allows you then the freedom of time. And that's one thing that most entrepreneurs don't have is time."
You can find out more about Pete in the links below:
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