Today we are talking to Mitch Russo who, at the age of 16, was the lead guitar player for his high school rock band. Besides being the best way ever to meet girls, it taught him how to build, run and promote a business. His band; Absolutely Free, was the highest paid high school rock band in his school district, making over $500 a night, and that was in 1970. In 1985, Mitch co-founded Timeslips Corp, which grew to become the largest time tracking Software Company in the world. In 1994, Timeslips Corp was sold to Sage, plc. Mitch was nominated for Inc. Magazine’s “Entrepreneur of the Year” on two separate occasions, 1989 and 1 991. Mitch joined long time friend Chet Holmes as President, later to join forces with Tony Robbins and together created Business Breakthroughs, Int’l, a company serving thousands of businesses a year with coaching, consulting and training services. Mitch was the President and CEO. In 2015, Mitch published “The Invisible Organization” which is the CEO’s guide to transitioning a traditional brick and mortar company into a fully virtual organization.
Entrepreneurial Role Models:
Elon Musk
When business started difficulties overcame:
“That might be a hard question for me to answer and let me tell you why, I don’t think I’ve ever been anything but an entrepreneur, you see when I was a little boy maybe 9 years old I would buy candy bars with my allowance and then take them back to school and sell them the next day for a profit so it started back then”…[Listen for More]
Favourite Books:
Beyond The E-Myth: The Evolution of an Enterprise: From a Company of One to a Company of 1,000! Book by Michael E. GerberFavourite Quote:
“Your time is limited so don’t waste it living someone else’s life, don’t be trapped by dogma, which is living with the results of other peoples thinking, don’t let the noise of other’s opinions drown out your own inner voice and most important, have the courage to follow your heart and intuition, they somehow already know what you truly want to become and everything else is secondary”
Recommended Online Resources:
Trello – Infinitely flexible Incredibly easy to use Great mobile apps It s free Trello keeps track of everything, from the big picture to the minute details
Best Advice to Other Entrepreneurs:
“Be prepared, don’t just jump in without preparation, don’t just decide one morning that you’re an entrepreneur without really doing some research and understanding what the business is that you want to go into, be prepared, save some money, if possible find a mentor, get a coach, if I would have had a coach when I started my corporation, it’s possible I could have doubled the value of what I sold it for in less time”…[Listen for More]
More About Mitch Russo:
Neil’s Quote at the Beginning:
“The important thing is not to stop questioning.” Albert Einstein
Other Quotes From the Chat with Mitch Russo:
- “You need to have enough money to get through a period of time which we’ll call a trial and error period, because I think every business has a trial and error period, and if you basically start on a shoe string and have nothing, and it doesn’t work the first time and you think you’re screwed then it’s a shame because you might not have failed if you’d had a little more money”
- “Really make sure that there’s a demand and that you know who wants what you do”
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