In this episode, I am joined by successful entrepreneur and owner of @askamillionaire, Shawn Thomas. I love talking shop with other business-minded people to learn more about what makes them tick and how they got where they are today. Success is always leaving clues! In this episode, Shawn and I talk about his daily rituals, the biggest problems small business owners face, his opinion on network marketing and the art of mentorship and delegation. So let’s dive in!
1:42 An Introduction to Shawn Thomas
Shawn has a long, multi-chapter life! He was born in a military family traveling state to state and at 12 years old, he started his first paper boy job, helping him realizing that his family wasn’t well off. In high school, he joined the choir and 2 weeks after high school, he went to California to find an opportunity as a singer. At 21 years old, he got his first record deal and traveled the country for a year.
At 22 years old, he decided that he wanted to be rich and thought that he had to be a business owner to do so. At 32 years old, he stumbled upon a business idea of selling computer systems to hotels.
8:35 The Beginning of Ask a Millionaire
Shawn stumbled upon accounts flashing cash and fancy cars and found out that many of the accounts were run by people who weren’t millionaires. Once he realized the business opportunity of a popular Instagram account, he started @askamillionaire. The goal was to help people learn how to become a first generation millionaire.
A few years in, he started a program for small business owners across all different businesses providing mentorship.
11:55 The Importance of Mentorship
Shawn believes that you have to go where the opportunity lies. Step #1 for new entrepreneurs should be to move to the “island” where successful people are. Mentors are simply going to help you get to where you want – faster.
15:55 Shawn’s Thoughts on Network Marketing
Shawn tried network marketing and failed miserably. He thinks that network marketing is great because you don’t need to learn about the details of business. However, you have to be GREAT at sales, communication, and leadership.
22:05 Differentiating Factors of Success vs. Not
Shawn believes that the willingness to learn and ask for help is a huge differentiating factor. It takes a certain amount of confidence and strength to be vulnerable and ask for help. As a mentor, Shawn had to start focusing his time and energy on the “cream of the crop” as opposed to those who weren’t yet ready.
28:35 Mentorship, Coaching, & The Art of Delegation
A coach typically gives you a step-by-step game plan, while a mentor is a trusted advisor for experience sharing.
For me, I thought I could do it all early on (it was surely an ego trip!) But all of a sudden, you hit your cap and either your goals need to stop growing, or you need to grow a team. Many people aren’t able to let go of their ego and delegate.
If you’re somebody who’s lacking mentorship but hungry to learn and do, check out Shawn on Instagram and his Accelerator Organization. Listen, Learn & Take MASSIVE Action!
48:48 Shawn’s Daily Rituals
Shawn does not have daily rituals, however he’s very routine oriented. As soon as he wakes up, he likes to let his dogs out and take a shower. He’ll then make a protein shake, check emails, and start his day. He doesn’t manage companies that require set hours or responsibilities.