Introducing Franz-Phillipe Przybyl
The world today is full of amazing opportunity. It is becoming easier and easier for new people to provide value to the world, and create the life they always dreamed of. With this opportunity, there’s a huge wave of new entrepreneurs of dreamers trying to make a better life for themselves, their families, and their communities. However, many people find out there’s a steep learning curve in the market and entrepreneurship. My new friend Franz-Phillipe Przybyl knows this very well, and I’m excited to bring you my conversation with him about this topic.
Franz is a serial entrepreneur with extensive experience in building large-scale businesses. He acts as a growth catalyst to help other businesses scale quickly so people may achieve their goals and dreams. Today’s conversation was extremely insightful as we talked at length about the entrepreneurial mindset and some of the pitfalls people fall into. Imagine if you could build the life you always wanted, and deliver massive value to the world. Well hopefully our conversation today can help you get started, and if you’re already started, it can help to steer you in the right direction.
If you want to know more about Franz and what he’s up to, check out the following links:
What did we talk about today?
Franz has had a long experience with serial entrepreneurship. It was very interesting to speak with him today, and I hope you guys find immense value in our conversation today. If you have any feedback or questions for either of us, don’t hesitate to let us know. The important thing I have realized from many of our guests, especially Franz, is just how important the ability to learn and adapt is for entrepreneurs. So here’s a quick overview of all the questions we discussed today. And if you want a more in-depth discussion, make sure to listen to the audio of the podcast!
Why don’t you tell us a little about yourself, who you are, and what you’re doing in this massive world of opportunities?
Franz was born in the United States, but at the age of four, he moved to Germany with his family. He has always had the heart and mindset of an entrepreneur. Franz went to university to study international business, and he has experience as a serial entrepreneur with multiple businesses under his belt. During the late 90’s and early 2000’s, he led the creation of an IPO Platform (Initial Public Offering Platform) which handled over $10 billion in transactions and investments. However with the tech bubble crash in the early 2000’s, the base of the platform was eliminated, and his life was changed overnight.
Most people would be extremely discouraged and hurt by this event. But Franz, having a real entrepreneurial mindset, looked at this as an opportunity to learn and move onto the next thing. I believe this is one of the biggest keys for successful entrepreneurs, and within the next few years, many people will need to have the same mindset. Now he runs ICS Financing and continues to make a positive impact on the world and build the lifestyle he wants.
How was the beginning of your entrepreneurship journey?
Every entrepreneur is going to go through a series of ups and downs. The early days of internet companies and working with banks was a total nightmare. Franz told me of how there were no API’s or platforms to easily connect different businesses and services together. I can only imagine the massive challenge of creating an IPO platform in the early days of the internet. In the early days of a business, it can be a long time before you see a positive return on time invested. But I personally believe the potential rewards are well worth it, and they typically far outweigh any potential risk.
What’s your advice for new entrepreneurs out there in the world?
Franz gave me a few important pieces for new entrepreneurs and professionals to keep in mind. The first is that you must take ownership and responsibility for everything in your life and business. As the entrepreneur, you must also determine what products, services, and plans are suitable and unsuitable for your business. If someone pitches you a product which has no place or potential for profit, even a price of $1 is not worth it. But something which may double or even triple your bottom line may be worth $500,000 or more. It is also extremely important for entrepreneurs to just do it, for more reference on this you can check out the video from Dan Pena below.
One final piece of advice, is you don’t need to overcomplicate everything you do. This directly ties in with the idea of to just start taking action. You should also aim to control the things you can control. You can’t control other people’s words, actions or circumstances. What you can control is your reaction. Here’s the equation you can follow: (Event + Reaction = Outcome)
What’s the most common mistake you see new or existing entrepreneurs making?
Franz told me the biggest mistake he sees many entrepreneurs making is attempting to micromanage. You should be able to give direction and create systems for accomplishing work and visions. Many people also underestimate the amount of work and time it takes to accomplish something great. But as long as you take consistent action and reflect on those actions, you will be heading in the right direction. It just takes a great amount of patience and persistence to find success.
What’s the best mindset possible for entrepreneurs?
The first piece of advice Franz gave for me is to take ownership of my actions. As the entrepreneur, you are responsible for everything that happens in the company. It’s also important to take a closing mentality for everything you do. Stick to your plans and execute. You should be sold on your mission, vision, and product. Finally, think about why you do everything you do with the business. Be persistent with this question and all the actions you take in your business.
How important do you think the ability to learn and adapt is?
The ability to learn and adapt quickly is extremely important, it’s probably one of your most important skills. If you can’t keep up with the constantly changing world of information and products, there’s no possible way you could survive. A part of this is also realizing that perfectionism can be a huge hold-back in entrepreneurship. Perfectionism is typically paralysis. Also, what’s right today, might be wrong tomorrow. As I said, the world is constantly changing, and it’s up to you to keep up with this change.
If new entrepreneurs had to focus on just one skill or activity, what would you recommend it be?
Franz recommended investing in yourself as a person. As you grow and develop your business and mission and grow at the same time. Personal development allows you to continually grow the value you can possibly provide to the world. Read books, take courses, find mentors, but most importantly, take action on the knowledge and skills you’re learning.
As people move forward with their careers or businesses, how can they start living a more balanced lifestyle?
There are many facets to this question, but the most important part is your attitude about your entrepreneurial mission. If you view what you’re doing as mindless work and business, it’s going to be difficult to stay motivated and life balanced. It’s extremely important to focus on the results you bring to people. You should also examine all facets of your personality, physical fitness, for instance, is very important. I have to say over the past year, my physical fitness needs some improving. This is something I am certainly going to work more on as time goes on.
For business owners who are creating new products and pushing them out into the marketplace, what advice would you give?
Franz’s advice was to leverage the power of social media and the internet for quick testing and prototyping of your product and value you bring the world. It’s important to always focus on the customer, their needs, and the feedback they provide to you. Cross testing and market research will really go a long way. As an entrepreneur, it is very easy to get inside of your own head and what you think you’re doing. I have to say I have been pretty guilty of this, but I have been trying to get more feedback and iterate on what I’m providing.
If you could only leave the audience with one piece of actionable advice, what would it be?
Franz recommended starting with believing in yourself, your goals, and your mission. Find a big goal, and figure out why you want to accomplish it. Every day, write down this goal and create a list of 5 actions for the day which will help you to achieve this goal. If you do this every single day, this leads to 150 actions in a month, and over time, you will accomplish great things.
It was a real pleasure to speak with Franz today, and I hope you guys found as much value as I did. If you have any questions for me or Franz, please let me know. Don’t forget to subscribe to the podcast if you found it interesting. If you’re passionate about self-development, then also join our new facebook group: The Self Development Community. The link is at the top of this post.