Eric Walsh Helps New Entrepreneurs to Avoid Landmines and Find Success
Every new entrepreneur faces the same daunting mountain to climb. “The odds of building a thriving business are similar to what you would face if you climbed Mt. Everest using a fork,” says Eric Walsh, the founder of The Genius Academy as well as The Genius Academy Automation, an ecommerce business that generates passive income for his clients. “You can do it, but only if you’ve got nerves of steel and refuse to back down. Entrepreneurs are a special type of people, and I have a lot of respect for them. Because I have climbed that same mountain and have received wisdom from other people, I like to help the new generation of business owners. It’s only right that I pass on what I have learned so that they can prosper, too.”
Eric’s first suggestion is to throw away the idea that you can be perfect. “Letting go of that should be your first step. It will save you a lot of stress,” he says. “It’s just inevitable that you’re going to make mistakes no matter what you do. My first big failure was with the business I started when I was 21. I figured I would learn along the way. Of course, I did just like anyone does, but the issue was that while it was great that we made $100,000 from the first store, we grew too fast. We opened 17 more stores and realized pretty quickly that we were unable to handle it all. We were driving 40 hours a week and just couldn’t run everything as well as we needed to. That led to hundreds of thousands of dollars in losses.”
That leads to Eric’s second piece of advice: transform each failure into a win. He says that it didn’t feel great to lose that money, but he and his employees did not get depressed. “Instead, we figured out how to pivot and still make that money by using the model on a larger scale. We reassessed and taught other people to open stores under my brand name, Mobile Rescue. Today, these are dealerships that I collect a fee from every month.”
Eric advises that all entrepreneurs remain consistent. He has seen a lot of people stumble with their businesses because they have been sporadic with their efforts. “You may or may not want to follow my example and work on your business seven days a week, but whatever you choose to do, stick to it. It can be hard in the beginning because you want those results to come. They don’t come immediately, though, and it’s tempting to slack off, especially when you wake up in the morning and don’t feel well. You really won’t feel like working on that blog at 6:00 a.m. or going through your email at 9:30 p.m. You’re going to hear that voice suggest that you take it easy and do it some other time.”
Eric says that’s exactly when you should push even harder to do it. When you slack off that first time, it becomes easier and easier to do it again, and suddenly you look around and realize you’ve lost your momentum. By pushing through one more day, you will find it: your success.
A positive attitude is a must. Eric believes it’s so much easier to focus on the negative, which will sap you of your energy. “In my experience, the best way to combat that is to train your mind to be positive, which I work on every day. I have tons of negative thoughts that flash across my mind daily. When one comes, I instantly battle with it and try to find a solution for it. I reflect on why I should be grateful. That usually lifts me out of any negativity and restores my energy and perspective.”
While the road to opening a new business cannot be made 100% smooth, Eric believes that his advice can help. “Always be willing to learn from those around you,” he states. “Implement the suggestions that work for you, and when you’re standing on top one day, be sure to pay it back to the new entrepreneurs who come to you for help.”