Bill Ringle – Helping Entrepreneurs Turn Talent Into Wealth
I met Bill Ringle when he asked me to participate in his interview series My Quest for the Best. He asked such good questions that I offered to return the favor! So here’s my interview with Bill – I hope you find his insights provocative and useful.
Bill Ringle is the founder of Rapid Rise Business Academy and author of the upcoming book What Winners Say. He believes that business is fundamentally a vehicle for converting talent into wealth. Ringle is the author or contributing author of four business books and over 400 articles, and is a frequent media guest on strategy, marketing, and the psychology of business growth. Business leaders work with Bill to launch new products/companies, increase market share, develop high-performing teams, and slash labor intensity. To meet Bill and find more resources to help grow your business, follow @BillRingle and visitwww.AskBillRingle.com.
Much of your work is with entrepreneurs. What are the key qualities required, from your point of view, to be a successful entrepreneur?
Successful entrepreneurs tend to define what success means to them personally and don’t waste time chasing someone else’s dream or living under inherited assumptions or limitations. It requires a big mindshift from how the culture says you ought to be successful. But let’s take it one step further.
Let’s talk about the single biggest characteristic and observable behavior that separates the wanna-be entrepreneurs from really successful entrepreneurs, in terms of both revenue and impact. True entrepreneurs have a strong commitment to make a big vision a reality because it will make a difference.
Let me give you an example.When I sat on the board of an angel venture group, within the first two minutes, we wanted to hear the entrepreneur talk about a big problem, one that mattered to people, and to which she or he had the solution. There were other important factors, of course, like scalability, patentability, and a strong team, but those were all secondary to solving a big problem that mattered.
You talk about the “inner game” of business. Can you share with us some of your insights about what that game is and how to play it well?
This is important for leaders in businesses of all sizes. Basically, the outer game is the numbers, the environment and the products. The inner game is how people feel about who they are; what it’s like to do their job; how they think about using and developing their skills; what they expect, hope for, and appreciate about their relationships; and how they see the rewards of working at a particular company.
It’s useful to talk about the game of business as having an outer and inner aspect because it allows us to discuss rules, team building and measuring success from both aspects.
Mindset, which is the core of your inner game, makes such a big difference, but because it is an “invisible” factor, it is often overlooked, undervalued, and undisciplined.
The economy in the US and world-wide has been very strange over the past four years (to say the least). What advice do you have for business owners and leaders about how to succeed in this environment?
The single most important tactical thing I’ve told business clients has been to tune down or turn off the mass media. It’s about choosing your focus. The messages you’ll find on TV and in the news won’t help you cultivate a strong, positive mindset.
Deliberately identify and hang out with positive people, who want to see you succeed because they themselves have a strong self-image, business/professional foundation, and an optimistic viewpoint. Cutting down TV, radio, and print media frees up hours a week that you can devote to improving your business or enjoying your relationships more. That’s a great tradeoff!
What do you like most about having your own business?
I love making a difference and sharing tools and ideas that help people reach their goals through their businesses. I know that through the work I’ve done, my clients have prospered. One of the ideas I’m known for is that business is a vehicle for converting talent into wealth. Wealth isn’t the end goal, but it does bring freedom and freedom brings choices. When you have a successful business, you have more choices about where to live, where your children go to school, the food you eat, how and when and for how long you go on vacations, and other good stuff. That idea is always in the back of my mind as I’m helping someone because I want that for the person I’m working with and all of his or her employees as well as their families.
As you think ahead to the end of your life (many years hence!), what do you hope will be your legacy – how do you want to be remembered?
That’s a great question. Thanks for asking, Erika. I love talking about this with you and other successful entrepreneurs because we will have both private and public legacies. There will be the legacy of love we leave to our families and close friends and the legacy of our work that continues to add value and enrich lives after we step away from the business.
If you want to have a better future, it starts with having a better perspective on the present. I consider the legacy question as a set of concentric rings emanating outward. Here are the five most important levels to me.
I want to be remembered by my family for the love, hugs, laughs and adventures we created and shared.
I want to be remembered by my work team and colleagues as someone who recognized and appreciated their contributions more and more each year and gave them opportunities to develop and grow, at work and beyond.
I want to be remembered by my business clients for helping them achieve greater prosperity and freedom than they imagined when they launched their dreams and formed or joined a business.
I want to be remembered in the tennis community for the resources I developed that brought the joys, excitement, and growth opportunities of enjoying the game to thousands of people.
I want to be remembered by you who encounter the body of my work online as someone who inspired you to live up to your highest vision of your life, especially if you’ve chosen the path of a business founder, owner, or leader.