Ep20: How Scott Gerber Went From Nearly Bankrupt To Building An Organization Of The World’s Most Successful Young Entrepreneurs

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Join me as I talk with serial entrepreneur, Scott Gerber, founder of the Young Entrepreneur Council (YEC), internationally syndicated columnist, and the host of Founders Forum on Inc.com and author of ”Never Get a “Real” Job”. Scott’s invite-only organization attracts some of the world’s most successful young entrepreneurs in the world under 40 who generate at least $1 million in sales or financing. His group includes founders and leaders of HootSuite, Thrillist, Threadless and KISSmetrics among other industry greats.

• Currently, YEC serves 1,000 entrepreneurs who directly refer new members and are voted on by the community.
• YEC has an application list of 15,000 hopeful members.
• Scott was a featured speaker at the White House and rung the NASDAQ Stock Market Closing Bell.

Key Takeaways:

• Scott shares his thoughts on building one of  the most boring business models in the world, which also happens to be his favorite kind to run.
• Explains his current revenue model and hints at potential for the future with an increase of incredible value at its core.
• Shares how he launched YEC as a non-profit when unemployment was booming and scaled it into a premium membership site.
• Get insights to Scott’s focus on building his first 100 relationships around helping entrepreneurs.
• Explains his passion to give back his wealth of entrepreneurial knowledge and experience to a generation that is fundamentally screwed.
• Offers a surprisingly simple reason for targeting entrepreneurs under 40.
• Shares an incredibly powerful secret to relationship building in just two-words.
• Discusses some of the best advice he’s ever received, “Life happens in real time.” and what it means as an entrepreneur.
• Why Scott thinks “network” is a fundamentally flawed word and how he approaches relationships.
• How to change your personal and professional life overnight by doing one simple thing leading to shocking results.
• Why Scott’s role as a super-connector has a dynamic ripple effect that keeps him at the core of the equation.
• Discusses how ROI skyrockets when you meet your customers and truly listen to their needs.
• Shares his system immediately creating value with every meeting and relationship he makes.
• Gives eye-opening insights on how he lied about his age in college to attract major clients to his video production company, spent thousands on business dinners, and made endless dumb mistakes until he was nearly bankrupt.
• Why he advises to burn your business plan and focus on setting-up your first revenue model.
• Dishes on why most entrepreneurs fail after starting themselves in the wrong business.
• Scott’s advice on not launching a tech business as a first-time entrepreneur, and instead using tech to help build its structure.
• Squashes the fantasies of real mentors vs. role models, and how to avoid the vanity metric.
• Get Scott’s favorite productivity hacks to keep his personal and professional life flowing. 

Scott’s Recommended Resources:

“Never Get a “Real” Job: How to Dump Your Boss, Build a Business and Not Go Broke”

“Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World”

“Crush It!: Why NOW Is the Time to Cash In on Your Passion”

How to Navigate the Waters as a New Entrepreneur

17 Surefire Ways to Land Your First Paying Clients

How to Pitch Your Business in 60 Seconds