Recipe for Success - David Simnick - Finances Demystified Podcast

The Recipe for Success from a Successful Traveling Soap Salesman – David Simnick

Summary

What is the recipe for success?

To be an entrepreneur is to get out of your comfort zone and sometime it’s an understatement.  You will go through a lot to attain success in entrepreneurship but your values and characteristics will take you there.

In this episode, we will hear about how David Simnick, CEO and co-founder of Soapbox and his team went through to get investors for their business; to not getting salary for the first years of their business; to hitting company money goals and finally making an impact.  What does David Simnick and other successful entrepreneurs have? Find out by listening in.

P.S.  Are you a fan of Soapbox just like I am? Make it to the end of this episode to get your gift from David.  

Resources
Key Takeaways
  • Humility and the willingness to be mentored is an essential factor of an entrepreneur success.
  • You need to know the things that you don’t know and get ahead before of the learning curve before that curve hurt you or your company.
  • Finding mentor is not that difficult. Finding the right mentor is incredibly difficult.
  • Small Ask is a theory used by Soapbox to get mentors and investors.  
  • Small Ask is to make the ability for someone to engage in you really simple.
  • When doing Small Ask show that you take the time to research and invest a time in that person.  
  • When you do this Small Ask you are actually getting that person to invest in you.
  • You want your mentor to believe that your success is their success.
  • Mentors sometimes eventually become investors.
  • Things are not always going to work out the way that we want to but we believe that we can win.
  • Resilience is the number one key ingredient for successful entrepreneur.
  • Do not allow momentarily defeat to spell failure overall.
  • Your saving is the equity of the company, that the investors want you to have.
  • Being an entrepreneur is incredibly hard, and not that hard at the same time.
  • If you are humble, hungry and smart and willing to work hard usually you can make a living as a entrepreneur but it is also incredibly risky and not safe at all.

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