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Entrepreneur Stories 4⃣ Inspiration

099: Custom Doors for IKEA Furniture. How John McDonald built Semihandmade...

Entrepreneur Stories 4⃣ Inspiration

Millionaire Interviews Podcast & Sir Austin Peek

Careers, Business:careers, Business

4.72K Ratings

🗓️ 1 January 2021

⏱️ 48 minutes

🧾️ Download transcript

Summary

John McDonald founded Semihandmade in 2011. The company makes doors that fit Ikea kitchens, bathrooms, closets, and media systems. As a former aspiring screenwriter, he... This Episode is Sponsored By: Skillshare is an online learning community with over 20,000 classes in business, marketing, technology, design, and more. Get 2 months of classes for only 99¢, using this link: millionaire-interviews.com/skillshare. Blinkist gives you key ideas from the world’s best nonfiction books in 15-minute text and audio. Learn something new everyday with unlimited access to over 2,500 of the world’s best titles in 19 top categories. Get 7% off & your first week free with this link: millionaire-interviews.com/blinkist. *** For Show Notes, Key Points, Contact Info, Resources Mentioned, & the Fabulous 4 Questions on this episode visit our website: Millionaire Interviews. ***

Transcript

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0:00.0

There is a fear that I could go back to that shop and I won't.

0:03.2

But yeah, I mean, it's when I was talking about geeking out,

0:05.5

reading about other businesses, we're definitely at a pivotal point where companies in our position,

0:10.4

a lot of them fail if they're not prepared to get to the next level.

0:13.2

It's kind of crucial. I mean, you can't assume you're going to keep growing,

0:16.0

but the rate we have, I hope we do, but it's silly to assume that.

0:19.4

And so we need to keep reassessing.

0:21.2

I think most of us are more impressed with the guy or girl who didn't go to exceptional school

0:31.5

and has made it than the person that did.

0:34.0

The idea of a buddy's going to open a bar, I've got friends of the kid,

0:36.2

it's open a bar together.

0:37.3

Number one is the worst idea in the world opening a bar.

0:43.2

And number two, opening with your friends is probably even worse.

0:46.8

Expect to fail. Don't assume you'll fail, but you're not going to hit a home run every time,

0:50.7

and that's okay. I'd like to think I'm a good example of just don't assume you're kind of stuck.

0:56.0

It would have been very easy at 35, whatever, to sort of, I don't know, throwing the towel.

1:00.6

And I didn't, and I'm glad I didn't.

1:05.4

So there's one class that if you had to teach it or wanted to teach to entrepreneurs,

1:10.3

what would that be? And why?

1:12.3

That's a good question.

1:13.2

Wow. My experience as an entrepreneur, I don't consider myself an entrepreneur,

1:18.8

maybe in the traditional sense, or certainly what that word has come to mean in the last 10 or 15

...

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