In Part 2 of The Traits of Eight Figure Entrepreneurs, Samantha and Tim continue to dive into the defining mindsets and attributes of highly successful 8-figure entrepreneurs. Having covered the first four traits in Part 1, they now explore four additional qualities that set next-level entrepreneurs apart.
Listeners will gain powerful insights on how embracing challenges, surrounding yourself with a strong peer network, cultivating an insatiable appetite for learning, and balancing confidence with humility can help accelerate your entrepreneurial growth.
Join Samantha and Tim as they reveal their best strategies for optimizing your strengths, environment, and inner game to maximize your potential and achieve game-changing success.
Whether you’re just starting out or looking to scale, this episode provides actionable advice to help you level up.
IN THIS EPISODE YOU’LL DISCOVER:
- Turning challenges into innovation for growth (3:24)
- Learn how taking decisive action can elevate your business journey (3:24)
- Ego vs. Knowledge – How knowing your limits can propel your business forward (8:37)
- The thrill of the game – How to harness healthy competition for success (12:43)
- Building your dream team – The secret weapon of successful entrepreneurs (15:16)
- How to amplify creativity and possibilities (16:59)
- “Surround yourself with the right people and do anything to get in the rooms of people who are successful, because when you don’t know how or where or why to innovate, they will help you. – Samantha Riley
- “Successful people have a knack for searching and seeing the minor details that other people can’t see.” – Samantha Riley
- “Every time you read a book, you’re taking decades of their life experience from 200 odd pages.” – Tim Hyde
- “Really successful entrepreneurs are confident, but not egotistical.”- Tim Hyde
Think and Grow Rich by Napoleon Hill
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(This transcription is AI-generated and may contain inaccuracies.)
Tim Hyde 00:00
Entrepreneurs or particularly successful entrepreneurs enjoy a challenge and they like to win.
Samantha Riley 00:06
I don’t know what you’re talking about.
Welcome to the Influence By Design Podcast. I’m Samantha Riley, authority positioning strategist for coaches and experts. If you’re ready to build a business that gives you more than just a caffeine addiction, and you dream of making more money, having more time, and having the freedom to be living your best life, then you’re in the right place, it’s time to level up.
So welcome back to another episode of influence by Design. Today, we are talking further about the traits that we see in eight figure entrepreneurs we covered for last week, Tim? We did, we did. We’re going to cover another four today.
Tim Hyde 00:46
Just to sort of recap them real quick. We talked about leadership, we talked about being self motivated, an action taker, we talked about, I guess, the integrity that you need to have, and a willingness to fail. So I want to know, because we did challenge ourselves. So we pay attention over the last week to see what, what the fridge to us. What was it for you.
Samantha Riley 01:11
So it’s something that I talked about last week, and it’s that willingness to fail. But there are always things that happen in my day, every day where I still feel this fear of like, oh, I don’t want to do that. Because maybe, you know, I’ve got this fear of someone in my world saying a bit silly or stupid, or, you know, this feeling that I shouldn’t have done that. And it just kind of reiterated something that I said last week, which was just because we feel those things doesn’t mean that it needs to stop us. Yeah. But we’re not in a place to just do it and not feel the fear. I guess in some of those times that I felt the fear or felt that that uncomfortable feeling. It was like, No, it’s okay, I can do this.
Tim Hyde 01:58
What about you? For me, it was was the action taking? Actually, because quite a few times over the weekend. And again, maybe just because I was a bit more hyper aware of it, right? And what you have a lens on, pay attention to. And a couple of times, I thought I need to call that person, but it’s like 430, so I’ll just call them to her. Yeah. And I and then I just caught myself Gangwar What are feel what that what? What was it that was gone? Don’t take action here, don’t do the thing. I just caught myself a couple of times and just be more aware of it going there. Now I’m gonna make that call today. Even if I get a voicemail. That’s okay.
Samantha Riley 02:40
I think that’s what it is. It’s just bringing awareness to it. It’s shining a light on on that feeling or that thought because as soon as there’s a light shone on it, you know, it almost takes that shame away. Or it takes that feeling that it needs to be sort of under the rug. It’s like, oh, well, the lights on it now. Maybe we’ll just get on and do it. Yeah.
Tim Hyde 02:58
Yeah. And it’s usually because it came up quite a few times in the team conversations as well. And just go, Well, what do you what’s the action you’re going to do today? What’s the one thing that you’re going to get done?
Samantha Riley 03:09
I love that. What’s the one thing super resourceful question. All right, well, let’s dive into these second half of our eight traits that we see in eight figure entrepreneurs. All right,
Tim Hyde 03:19
number five, serial innovators.
Samantha Riley 03:24
I love this one. I was just thinking, I don’t know why this popped into my head the other night. But back when I entered my dates were stores and I’m talking when I came up with this idea. I reckon it was about 1996 ish. So very, you know, a while ago, and at the time, there was no such thing as like store cards, loyalty cards, it wasn’t a thing and wonderful
Tim Hyde 03:50
invention. They weren’t.
Samantha Riley 03:52
Right. But let me tell you how I came up with the idea that there probably were some somewhere in the world, but I’d never heard of them. We used to like I said, we were in the dance where industry. We used to have customers come in and say can we have a discount because we’re dancers? And I would say, Well, everyone that comes into our store is a dancer. So that doesn’t automatically qualify
Tim Hyde 04:12
for you’re not here been coming here for beer and Skittles. Exactly.
Samantha Riley 04:16
I always thought it was the weirdest thing people say, but the store in the city, if we say that we’re a dance a week at a discount. So this used to frustrate me to tears. I thought it was the weirdest thing. And I remember sitting down with my business partner and saying there’s got to be a way around this without just automatically going we’re going to give you a discount. So I came up with this idea of a loyalty card. Like I said I’d never heard of them before. I didn’t know what a loyalty card was. And at the time, this is so funny. We had our printer print them out like business cards, and we used to handwrite the name and then membership number on the card after we entered it into some like Microsoft database thing it was you know when we’re standing at the counter, super old school days, but what happened is people would pay For this loyalty card, I mean, who would pay for a loyalty card now, we charged for a loyalty card. And they had to renew it every year. And we had customers lining up to pay for their loyalty card because they got their 10% discount, they also went on a mailing list, they would pay to go on a list for us, there was no email back then, for us to manually mail them, if we had some sort of special or announcing whatever it was new people actually paid, that I believe at its time was extremely innovative. And that came up. And that worked really well. For us, we had a database of like 20,000 people back in the late 90s have customers, because we were just trying to solve a problem, that problem I was trying to solve was, I don’t want people to come in and tell me that they’re my ideal client, and they should have a discount because of that. That was how I innovated, that’s awesome. There’s a lot there to unpack. But that just sort of came into my mind the other night,
Tim Hyde 05:55
on thinking back to the days of the entertainment book, in the we had in Australia. To the entertainment, you’d pay 50 bucks, and then sort of got your discount vouchers to all sorts of different restaurants and stuff that you’re
Samantha Riley 06:08
used to forget we used to i Well, I used to buy the book and then forget I had the vouchers and get to the end of the year with a full book of vouchers. And invite again.
Tim Hyde 06:16
Yeah, that was pretty cool. Excellent. But there is there is this idea of I guess that innovation, we’re constantly looking at ways that we can do something better. And because things change, although they do you know where you stored? If you start charging for loyalty cards now you’d be like, Why am I not making any money?
Samantha Riley 06:38
Well, people do charge for loyalty cards, think about Amazon Prime. That is essentially a loyalty card. I pay for Amazon Prime every month, because I know that I can get free postage, and I’ll have it delivered. The next day, I ordered a whole a whole host of things yesterday. And I specifically looked for the products that had the Amazon Prime badge. So I couldn’t have next day delivery.
Tim Hyde 07:02
I watched her a documentary about Jeff Bezos the other day, how he got started. It was really cool story.
Samantha Riley 07:08
Yeah, it is a very cool story. I did not know there was a show really
Tim Hyde 07:13
interesting. People have gone not wasting your time. He definitely
Samantha Riley 07:17
knew what he was doing. And he did not listen to the gazillions of people that told him that he was just a little bit silly.
Tim Hyde 07:26
Yeah. Which comes down to the next one, which is knowing what you don’t know. Yeah,
Samantha Riley 07:30
I think that anyone that gets to a point where they know a lot all of a sudden realizes that for as much as they know, there’s more that they realize that they don’t know, I feel like that. At some point in our careers. We all get to that point where we move from, ha, I’ve got this nail to Oh, my goodness, there’s actually so much I don’t know.
Tim Hyde 07:50
Yeah, I’m I remember doing that with martial arts. You know, the more I learned about martial, you know, my particular style, the more I realized I didn’t know, as I start off on new Everly, then the more I learned, I’ve gone on just scratching the tip of the tip of the iceberg here. Yeah,
Samantha Riley 08:04
I remember saying to my dance teacher, when I was studying, I’ve got an associate diploma in classical ballet. And I remember saying to my teacher before I sat for that exam, and that was years and years and years in the making. It’s such a hard exam to study for. And I remember sort of the week before, and just saying to her, Oh, I can’t go through this, I think I’m going to pull out like I just feel like I don’t know so much. And she said to me, now is the perfect time to go because now you’ve understood the concept. And that that was a really big lesson for me, just by her sort of shining a light on that. Well,
Tim Hyde 08:37
I think this comes back to this idea that really successful entrepreneurs are confident but not egotistical. You know what we know? I think you just sort of put us a little bit of a spin on the Jeff Bezos story here is also knowing what they don’t know. Tell me more about that. Yes, sometimes you have to have, despite the guy someone else seminar years ago, when I was running the riot act, you know, we were doing around. I don’t know, maybe we’re doing wasn’t at the minute maybe 50 100,000 sort of visits a month kind of thing. And I had a branding expert, quite a respected branding expert in the ICT. Yeah, come in and say all you need to change the name right now maybe was just adjusting the chase to nine because he changed everybody’s name. But a couple of years later when I’m doing 25 million. He’s like, No, yeah, I was wrong about that last night. I’m like, I’m not changing that. I’m, I’m really comfortable with this idea. Right. And Jeff Bezos was tight and despite all the people and experienced people who said Amazon won’t work, and he’s like, Nah, I’ve got a hunch here. I can see something that you can’t see.
Samantha Riley 09:43
Yeah, that really successful people look and see and find and search for that and have a knack for seeing the minor details that other people can’t see. I believe that through my classical ballet teaching background that I was trained to look for tiny, tiny details and nuance. And I have brought that into, and I bring that into everything that I do. And I honestly feel like it’s one of my zones of genius is that I can see a lot of little things that other people can’t see. And that they don’t even know that’s there, or they don’t even know that it’s missing. And I had someone explain it to me once that they like her out. You like an x ray for business, you can actually, like look through and see things that the rest of us can’t see.
Tim Hyde 10:31
Yeah, I agree. I agree with that sentiment is just taking that little nuance. You see other thing is this is my superpower. Like, I’d have to sort of shouted from the rooftops and wear a cape. Just gone. This is my thing. And it’s also I think the other thing, their appetite to learn. Always ask questions. Yep, learn a bit more. I remember the story I heard. I think it’s been Yang said, Once his a speaker trainer out here in Australia, one of his first videos, and I think it was him, it could have been someone else talking about books, right. And his father always encouraged him to read books, said every time you read a book, particularly instead of biography or autobiography is about someone you’re taking potentially decades of their life experience, into 200 odd pages, 250 pages, and you’re adding it to your army. All that Wilson’s life experience to adding to your army. And whether you when you start out, it’s just you. Alright, you’ve got an army of one. Yeah, very small army. And so it’s very difficult to win with an army of one. But every time you read a book, you’re adding a little bit more knowledge, a little bit more skill to your army. And then you got an army of two and an army of three and an army of four, and then an army of 50 and 100 to 200. And it becomes easier to win with his life experience.
Samantha Riley 11:53
I love that. I’ve not heard that. I think roommate Satie says something similar. I know one of his 10 commandments of money, or whatever he calls it, it’s something like that is that if he wants to buy a book, he will buy it every time that he doesn’t ever budget or say that he’s spent too much on books for exactly that reason that every time he reads a book, he’s just adding so much learning and so much, you know, not necessarily life experience, but so much learning to what he’s doing new
Tim Hyde 12:22
perspective, new lens. Number seven. And this one is entrepreneurs are particularly successful entrepreneurs enjoy a challenge, and they like to win. I
Samantha Riley 12:36
don’t know what you’re talking about.
Tim Hyde 12:40
Winning sucks. And I avoid challenges like the plague.
Samantha Riley 12:43
I love a challenge, I find that it’s interesting that there are some people that that don’t enjoy a challenge. But definitely entrepreneurs enjoy the challenge. It’s like the thrill of the chase. It’s like, if someone says to me, Sam, it can’t be done. I say hold my beer. Watch me. And sometimes I won’t be able to get it done. But going back to what I was saying before,
Tim Hyde 13:07
I don’t drink a beer, I just shot.
Samantha Riley 13:12
A shot at you, right? I don’t drink beer. That was purely a saying. But yeah, I love that. Even if I don’t win, I love what going after it teaches me that I just I’m a serial learner. And I know you’re the same team. And I think that’s why we talk so often. Because we’re always sharing stories. And hey, we’ve seen this and what’s working here and who do you know, here? That’s all part of the thrill of the chase. It’s how can we turn this into something? Great. How can we win?
Tim Hyde 13:44
Well, I think about this one and what we’re about to talk about. So one of the things that I really like, and I know you do as well, Sam is actually seeing other people overcome those challenges as well. Another sign out and when we work with our clients, right, the ability not just internally as challenges, and we we know plenty of people going, oh my god challenge can’t do it. Not going to face it. Whatever. I mean, I think I’ve told the story of a young fellow I spoke to just pre COVID on LinkedIn Who said I’m gonna shut my business down for a bit and just wait till it all blows over my gun. Well, that’s avoiding it. Okay, yeah. It’s not like how can I make this work despite this challenge that’s been presented to me. But the challenge that our clients present as well in the transformation we create for them. We like it when our clients when
Samantha Riley 14:31
I feel like such a proud mother duck when my clients when I’m just it’s, for me, it’s one of the best feelings. I actually almost feel happy when my clients win them when I do because it’s so much easier to appreciate it from an outside perspective. Yeah,
Tim Hyde 14:47
absolutely. Which takes us to number ace email list and the final one. This is
Samantha Riley 14:52
just say, my favorite one. Yeah, this is definitely my favorite one out of all of the others
Tim Hyde 14:58
who is understanding the value of a strong peer network. So next level entrepreneur values, a strong P and they work, not just values but actively cultivates and supports a strong peer network. Absolutely,
Samantha Riley 15:16
really successful entrepreneurs, every single one understands the who not how, like, just how is such an unresolvable question. I’ve mentioned that so many times on this podcast, it is one of the most, um, resourceful questions you can ask. But asking who, you know, who can I bring in? Who do I need to speak to who’s done this before me who can help me? Who can introduce me to such and such, it’s the most resourceful thing that we can do as business owners. So it’s who do we need to have? Or who can we have on speed dial? Which masterminds? Do we want to be part of?
Tim Hyde 15:52
Who can just tap on the shoulder and say, I need some perspective on this?
Samantha Riley 15:55
Absolutely. That’s why you and I speak so often, because I know that, that you’re one of my trusted confidence that I can ask you a question, you know, and you can see through them, you know, I might be wading through the mud and you’ll be at that macro level going was saying, like, what about over here? And I’ll go, How did I not see that? You know, that’s what we do a lot for each other. But one of the other things during
Tim Hyde 16:16
the modern, you’re very short.
Samantha Riley 16:20
The mud comes up a lot higher on my body. That’s hilarious. But
Tim Hyde 16:27
I know I love that I don’t like when you leave. If you’ve been paying attention to you know, the the episodes that we’ve recorded the number of times that you and I have mentioned, how much value we give each other in just the conversation we have. Before we record? Yes, we even mentioned it again today, how much value that we get, just from sounding boards, you know, sounding board and bouncing ideas back and forth off each other. Before we press record is immense.
Samantha Riley 16:59
Absolutely, Napoleon Hill talks about it in thinking Grow Rich, that masterminding with other people creates an extra brain, you’ve got two people or two brains, trying to work through something. And those two brains actually create another one, it’s like, you know, you’ve got mind one, mind two, and then you know, creates this extra mind, the mastermind. And that’s the value of coming together and discussing things. Now, to take this to the whole a whole new level. You and I not just will speak with others, but you and I will do anything to get into any room to be surrounded by our peers, you and I go to a lot of conferences, we will absolutely clear out calendars on 24 hours notice if we know that we can be in a room with our peers. And I think that’s
Tim Hyde 17:50
the thing, right? You know, you see all these tickets that go up for sale or conferences, do not buy the cheap seats. Okay, because you’re surrounding yourself with other people who buy the cheap seats, if you buy the VIP ticket, VIP ticket experience, because immediately putting yourself in that next level, right? Don’t fly economy, fly business class, because you’re immediately putting yourself in a room with people who also fly business class and having different conversations
Samantha Riley 18:18
and conversation conversations. Very different. Just go
Tim Hyde 18:21
and find somebody and start a podcast. If you need to, even if you never air an episode, right? Just get in the practices on what do we want to talk about this week? Research a report on it, you know, you’ll get value in doing that in a collaboration. And that’s that P network that you need to create, go find a networking event and don’t just show up saying, Where are my referrals this week? How can you collaborate with people? How can you nurture these relationships? And not just in what can you do for me? Right, thinking more broadly about how we can work together?
Samantha Riley 18:56
Absolutely, absolutely. If you were looking back on this conversation and you know, wanted to leave, I guess, the standout piece of this topic, to the people that are listening in today, Tim, what would it be
Tim Hyde 19:11
probably the last one, actually. I think you know, all the other things, okay, we know that the next level version of you. You need to inaction take care, you need to be resilient, you need to enjoy competition, not shirk from it. You need to like winning, right? You need to learn, not just learn to be a better entrepreneurs learn to be a better leader. Learn to be a better partner to your spouse, learn to be a better friend to your friends, right? You’ve got to be willing to put your ego aside and sometimes get it wrong and admit that to self but not lose the lesson in the process. But in terms of one thing that you can do to help you do that, I think it’s definitely surround yourself with the right people who are already playing them. On. Absolutely,
Samantha Riley 20:00
my takeaway is exactly the same, but for a slightly different reason, it’s surrounding yourself with the right people do anything to get in the rooms of people who are successful. Because when you don’t know how or where or why to innovate, they will help you. If you’re afraid of doing something, they will give you the string and help raise you up so that you can if you are struggling to move forward, because you’ve got a challenge, that strong peer network will help you to break that down and be able to move forward. So all of the things we’ve talked about today can be overcome by being in the right room with the right people. Yeah, great conversation. Tim. Loved it. Hope you did, too.
Tim Hyde 20:45
I did. I do. I do. And I was the same way. I like we only schedule this one for an hour. And here we are on the hour.
Samantha Riley 20:56
So as a good one. Thank you for listening. We would love to hear your thoughts. What’s come up for you? What would you like us to dive deeper into on another episode? Let us know on the socials. You’ll find all the links in the app that you’re listening or down below if you’re on the show notes page over influenced by design podcast.com. Thanks so much for tuning in, and we’ll catch you next week.
Samantha Riley Outro
Thanks for joining me for this episode of the Influence By Design podcast. If you want more head over to influencebydesignpodcast.com for the show notes and links to today’s gifts and sponsors. And if you’re looking to connect with other experts who are growing and scaling their business to join us in the coaches, thought leaders, and changemakers community on Facebook, the links are waiting for you over at influencebydesignpodcast.com