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Table of Contents

Introduction

Why This Book?

The Paradox

Who This Book Is For (And Not For)

The Entrepreneur’s Paradox

Entrepreneur’s Island

Draining the Swamp

A New Identity

The Entrepreneur’s Paradox: Apply the Principle

Pitfall 1

Seeing the Swamp and Not the Mountains

Begin with the End in Mind by Picking Your Mountain Range

The Speed of Business

The Three Mountain Ranges

Pick Your Destination: What Is Your “End in Mind”?

Overcoming Pitfall 1: Move Past the Swamp and Pick Your Mountain

Pitfall 2

Climbing Without a Map

Not Just a Mountain, But a Path

Dream Big Huge

From Dreams to Goals

Overcoming Pitfall 2: Create the Map/Make the Plan

Pitfall 3

Pulling a Goal Out of Thin Air

The Reverse Engineering Critical Questions

Perform a Reality Check

Don’t Pull Numbers Out of Thin Air

Visualize the Goal

Overcoming Pitfall 3: Reverse Engineer the Goal

Pitfall 4

Trusting Your Fears

The One Letter That Changes Fear into Power

The “What Is” Process for Overcoming Fear

Fear and the Brain

What If Your Fear Becomes a Reality?

Overcoming Pitfall 4: Doubt Your Doubts

Pitfall 5

Being Frozen by Imposter Syndrome

All Entrepreneurs Are Imposters—and That’s Okay

The Seven Imposter Types

Forget the Label and Keep Climbing

The Power of Self-Belief

Overcoming Pitfall 5: Embrace Your Reality

Pitfall 6

Wearing All the Hats

The Accountant

The Lawyer

The Assistant

HR Outsourcing

Humans Aren’t the Only Ones Who Wear Hats

Your Brain Has Room for Only One Hat at a Time

Overcoming Pitfall 6: Hand Out the Hats

Pitfall 7

Traveling Alone

Find Fellow Travelers (Other Entrepreneurs)

Hire Porters (Team Members)

Enlist a Guide (Coach or Mentor)

Mentor Versus Coach

It’s Anything but Lonely at the Top

Overcoming Pitfall 7: Travel with Friends

Pitfall 8

Not Stepping Up as a Leader

The Six Jobs of an Entrepreneurial Leader

Job One: See the Top of the Mountain and Uncover the Epic Adventure

Job Two: Inspire Others to Believe in Themselves and Their Ability to Contribute to This Epic Journey

Job Three: Clear the Path for Success

Job Four: Lead by Example and Take the First Step

Job Five: Foster Innovation

Job Six: Own Your Mistakes and Successes

Overcoming Pitfall 8: Become the Leader

Pitfall 9

Entrepreneurial Neglect

Sleep

Exercise

Diet

Mental Health

Family and Social

Financial

Fun

The Power Hour

Prayer/Meditation

Go for a Run, Swim, or Ride

Review Your Daily Plan

Eat a Healthy Breakfast

Visualize Your Mountain in Vivid Detail

Recite Affirmations Audibly

Start Your Day with Gratitude

Write a Thank-You Card for a Team Member

Evening Peace Plan

Tuck the Kids in Bed or Spend Time Connecting with a Loved One

Review Appointments for Tomorrow

Journal About Your Day

Engage in a Relaxing and Creative Hobby like Guitar or Drawing

Pray/Meditate

Leave Your Phone Outside Your Bedroom and Sleep Peacefully

When Life Happens…

Overcoming Pitfall 9: Protect the Asset (You)

Pitfall 10

No Business Acumen

Key Performance Indicators

Knowing the Right KPIs to Track

Cash Flow

Why Cash Flow Is Important

Sales Cycle

Why Sales Cycle Is Important

Year-over-Year Trends

Why Trends Are Important

Growth Rate

Why Growth Rate Is Important

Revenue, Profitability, Profit Margin, and EBITDA

Why EBITDA Is Important

Conversion Rate (Close Ratio)

Why Conversion Rate Is Important

Pricing

Customer Acquisition Costs (CAC)

Why Customer Acquisition Costs Are Important

Customer Lifetime Value (CLTV or LTV)

Why Customer Lifetime Value Is Important

CLTV:CAC Ratio

Why the CLTV:CAC Ratio Is Important

Churn Rate (Customer Retention/Attrition)

Why Churn Rate Is Important

Customer Satisfaction (CSat)

Why CSat Is Important

Dashboards

Lead and Lag Measure

Overcoming Pitfall 10: Develop Business Acumen

Pitfall 11

Breaking the Promise

The Promise

Survivorship Bias

Talk with Former Customers

Overcoming Pitfall 11: Keep Your Promise

Pitfall 12

Building Not Selling

Marketing

Marketing Quick Wins in Building Your Funnel

Top of the Funnel

Middle of the Funnel

Bottom of the Funnel

Sales

Strategy

Go Big or Go Home

Overcoming Pitfall 12: Drive Revenue

Pitfall 13

A Thousand Great Ideas

One Idea at a Time

A Simple Solution

Overcoming Pitfall 13: Laser Focus

Pitfall 14

Playing the Victim

No Excuses

Finding Serenity above the Storm

Eustress Versus Distress

Fight-or-Flight vs. Thrill-and-Skill

Change Your Language to Change Your Brain

Overcoming Pitfall 14: Get Excited About Challenges

Pitfall 15

Lacking Structure

Ownership Structure

Offering Ownership Is a Taxable Event

Build a “Top of the Mountain” Org Chart

Use Vesting and Employee Stock Options

Create a Capitalization Table

Determine a Distribution Structure

Leadership Structure

Legal Structure

Board Structure

Overcoming Pitfall 15: Build a Solid Foundation

Pitfall 16

Losing Sight of Culture

The Meaning of Culture

Vision and Purpose

Contribution

Safety

Gratitude/Respect

Growth

Communication

Overcoming Pitfall 16: Nurture Culture

Conclusion

References

Resources

About the Author

About Entrepreneur’s Paradox

Suggested Reading List for Entrepreneurs

The Entrepreneur's Paradox

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