Scott had the pleasure of sitting down with author Carlos Hidalgo to discuss his new book, The UnAmerican Dream. The book talks about Carlos’ “journey to entrepreneurial triumph, and the simultaneous path to rock bottom.”
Carlos describes the book as being more than just business, but a book for those that want to reassess personal and professional relationships in today’s always connected, always ‘too busy’ world.
When asked who the book was written for, Carlos stated, “I wrote it from the perspective of an entrepreneur and a business owner and a professional. But it’s really a book to say, stop. What is the frenzy for and reassess your personal and professional relationships and define success on your terms.”
In the interview clip, Scott and Carlos talk about his journey from being on the cusp of a divorce and hitting rock bottom, to his inspiration for the book when a LinkedIn post about why he was leaving his first agency helped him realize he wasn’t alone in his desire to get back to his true self. Carlos also talks very candidly about asking his wife to write a chapter in the book, sharing her story of the impact his ‘unhinged business pursuit’ had on their family.
https://vimeo.com/347584670
Want to watch the full interview with Carlos Hidalgo? Click here.
To hear the discussion with Carlos, listen or download here:
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In my last post, I talked about the extreme highs and lows of my first 30 days in business, even threating to jump on a plane and run away from it all. Well, 90 days later I’m still at it, with no plans of catching a plane anytime soon.
We now have financing, clients, and a corporate identity. Still plenty of work to do but the focus is now on building the pipeline and less on losing my house, our retirement, and so many other things that will go through your head late at night while second-guessing yourself.
Fortunately for my sanity, our building has a gym on the ground floor. It’s a great way to start the day or take a mid-day mental break to recharge (I highly encourage it). On the back wall, there are inspirational quotes to help keep you motivated. One, in particular, has had a certain relevance to me during this phase in my life;” Leap and the net will appear.”
Here are 6 new things I’ve learned since taking the leap:
Everything (and I mean everything) will take 30 to 60 days longer than expected – be it a loan, new project or client, even a business card order will take longer than anticipated (if you’re a novice). Add days to your expectations, push timelines out and start earlier than you planned. There are certain things out of your control and you may be less frustrated you if you keep this in mind…or maybe not.
Get half decent at everything – if you’re starting a business you are obviously knowledgeable, passionate and perhaps even an expert at something. Similarly, you’ll lack knowledge or depth in other areas. What I’ve learned is it is crucial to get a working level of knowledge on just about everything. You don’t have to be the “expert” but you have to have a base of knowledge to give direction to your advisors/experts (like attorneys, accounts, designers). Fortunately, there are plenty of good resource sites available (for example, com).
Trust your network – the “net” that will appear once you leapt will come from your network. You likely have more people in your circle that can, or will help you along your journey than you realize. One of my most trusted advisors turned out to be someone I’ve known socially for close to twenty years. It wasn’t until 60 days into this journey that I thought of him. You will be surprised by the support of friends, family and even acquaintances. If they can’t help you directly, there is a good chance they’ll know someone that can. Your network will be one of your most valuable assets, mine it.
Surprising financing options – depending on how your business is organized you may be able to take advantage of your 401K to fund the business or give yourself a line of credit. If you establish the business as a “C” corporation you can use your 401K as capital to buy a franchise or business or to fund it. There are some potential downsides to consider, so please consult a tax attorney or accountant before moving forward.
SEP IRA – speaking of 401K’s you may be deferring your 401K contributions like I am until the business is profitable. The Simplified Employee Pension (SEP) allows for a contribution of up to 25% of an employee’s pay up to $55,000 in 2018. As your business takes off your SEP gives you an opportunity to catch up on your retirement savings.
Payment terms of 60 days or longer – are pure evil for a startup. It’s absolutely ridiculous for a large corporation to expect a small business to float them for any period of time after a project has been completed. Cash flow is king and it’s also a killer for small businesses. As soon as we reach a certain level of success, we will actively avoid contracts with payment terms of that length. The learning, make sure you invoice your client as soon as the contract is signed! Billion dollar corporation, encourage procurement to develop new payment terms for small businesses. You can, and should, support the growth of new businesses. We may end up being your innovation incubator.
There is another quote on the wall I mentioned earlier. It’s by Eleanor Roosevelt and I find myself staring at frequently,
“Do One Thing Every Day that Scares You.”
Yeah, I pretty much have that one nailed. Talk to you again in 6 months. #buildingcarbondesign
CASE STUDY
It’s not unusual to find companies referring to their relationship with clients as “partnerships.” It’s common to find client logos on vendor websites. But how often do you see an agency or consulting firm’s logo on client websites? If you visit www.evepark.ca – that’s exactly what you’ll see.
Carbon Design, represented side by side with, a global architecture powerhouse, a world-class designer, and the project principal: the innovative green-tech engineering firm, S2E Technologies Inc. Under S2E’s leadership, these firms are inventing a new consumer category – one that integrates bold new ideas about housing and transportation – and radically resets the carbon footprint of both at the same time.
CASE STUDY
Did you know, that until recently restaurant owners only cared about the cleanliness of the food prep area? Most customers, and owners, assumed that if someone got sick after dining out it was because of food poisoning. That was until Carbon Design and Challenger Inc. helped “challenge” the norm by showing owners that half of the outbreaks in a restaurant were caused by people to people transmissions.
Now owners know where the “hotspots” are, and as a result, restaurant are cleaner than ever. Grab your face mask and enjoy a safe night out, but you may want to avoid the raw oysters 😉.
CASE STUDY
How do you do it? By giving clients and users what they want. Using the remaining budget that was to be used to update the site with the new branding we designed and built an entirely new site on a new platform. But audience needs are constantly evolving so the work never stops. Our team continues to audit performance and make improvements.
As a result, the two-year journey has paid off with the site being named #1 in the industry. Even more importantly, their key priority areas (site search, attorney profiles, etc.) were ranked in the outstanding category. Proving that excellence is a journey not just a destination.
