Episode 10 - Mastering the Game of Entrepreneurship: Lessons from Joe Spisak
Here are the top 3 takeaways from my recent conversation with Joe Spisak:
1. Learn from losses:
Joe’s initial board game launch, “Dicey,” experienced underwhelming sales and encountered various challenges. However, this experience proved to be invaluable when he later developed his board game “OK Boomer.” By learning from his previous mistakes, Joe was able to streamline the product development, marketing, and fulfillment processes for “OK Boomer.” This allowed him to scale quicker leading to millions of dollars in sales in the coming years & ultimately a successful divestment of the company. Failures can provide valuable lessons that serve as a catalyst for future success.
2. The fundamentals of success are universal:
Joe’s upbringing in a family of wrestlers shaped his perspective. His father instilled in him the three pillars of success: focus, discipline, and consistency. Joe applied these principles not only in his journey as a Division 1 collegiate wrestler but also in his entrepreneurial pursuits. These habits are crucial for achieving success as they help us stay on track, overcome obstacles, and make steady progress towards our goals. Regardless of the industry or field, these fundamental principles remain universal.
3. The significance of balance:
Joe emphasized the importance of finding balance in life. He shared how his involvement in competitive jiu-jitsu serves as a much-needed break from the stresses and pressures of entrepreneurship. Engaging in hobbies or activities that divert attention from work-related responsibilities can provide relaxation and rejuvenation. It’s important to find outlets that allow us to recharge and maintain a healthy work-life balance.
Bonus takeaway: Find a mentor:
Joe highlighted the significant impact of having a mentor within his industry. Seeking guidance from those more experienced can greatly enhance our chances of success. A mentor can offer valuable insights, expand our network, help develop our skills, provide perspective, and offer emotional support.
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