You Have to Be Willing to Fail Before you Succeed In Business - Jeremy Parker

Achieving business success can be about more than rainbows and butterflies. It also comes with failures and hardships, and persevering through these challenges is necessary to reach the end goal. Join host Jerome and his special guest Jeremy Parker as they discuss how Jeremy succeeded in the venture through creative pricing models and leveraging media attention. Hear how he had two exits by 25 from working with different companies in the promotional product space and social media. Find out more about the acquisition of Swag.com, including how the founder established valuation for the sale and what they learned from it.  Having extraordinary confidence and learning from failures is vital for success, so jump in to learn more! [00:01 - 10:16] Opening Segment Jeremy's journey of winning a film festival at 18 to becoming an entrepreneur Jeremy also started a t-shirt company called T's and Tats He also started a company called Vote for Art at 22 years old He worked with Jesse Itzler and bought rights to celebrities' Twitter/Facebook feeds Jeremy shares how he started Swag.com  The biggest lesson learned from his first acquisition: negotiate heavily upfront [10:17 - 19:38] Swag.com Custom Inc. Acquisition: How Jeremy Established Valuation and Invested in His Health Jeremy established valuation by interviewing bankers and keeping 5% of the deal The effects of going through an exhausting process of 7 A.M. to 11 P.M. every night for a year How money was used to secure the future of his two kids [19:39 - 31:18] Celebrating Success with Charity Jeremy shares how he celebrated his accomplishments with his family and by giving to the less fortunate The founder's exit paradox: questioning the meaning and purpose of life after a significant accomplishment Money is not everything; investing in a lasting legacy and making other people's lives better is important Entrepreneurship is about challenging oneself, creating something of value, and building an excellent place for employees to work Having a locus of control and taking responsibility for success or failure is key [31:19 - 40:39] How Swag.com Achieved Success Jeremy shares how Swag.com landed in the Inc. 500 twice in a row Seven other companies reached out unprovoked due to their awareness of Swag.com's growth Swag.com's business model allowed for excellent cash flow even with no inventory [40:41 - 46:03] Closing Segment Jeremy's advice to entrepreneurs: launch something and be prepared to pivot if it doesn't work out Final words Quotes: "It's not normal to start a business. It's never normal. To start a company and to just dive into the blue ocean, you have no idea what you're going to make of it." - Jeremy Parker "Fear of failure kills more dreams than failure ever could." - Jeremy Parker Connect with Jeremy! Website: www.Swag.com  LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes. Dreamcatchers is an inclusive organization that targets people's interest in being more instead of a certain demographic. We have people from all walks of life at many different ages. Find out more at www.dreamsshouldbereal.com. Find out more about Jerome at www.d3v3loping.com or www.myersmethods.com. Learn more about your ad choices. Visit megaphone.fm/adchoices