Phil Smith, born in Port Jefferson, New York, is a serial entrepreneur who is a visionary and an intelligent businessman who came from a humble childhood. While he has held the title of CEO for many of the companies he’s founded, the title of Dad is the one he’s most proud of. His passion for his work is only shadowed by his deep love and dedication to his Wife and two children. Mr. Smith generously supports organizations such as the Ronald McDonald House and Long Island Cares, among others. He doesn’t work on Friday and takes 45 vacation days a year.
Here are a few key secrets we talked about in this episode:
- Michelle introduces Phil Smith.
- Phil shares a little bit about himself and his business.
- The biggest NO that Phil experienced occurred back in 2005 when he sold one of his companies. Phil then had his first and last experience working in corporate America because the agreement he created with his company ended up being broken, leaving Phil feeling lost for 6 months. Listen to this episode for the FULL story!
- Phil shares what he learned from this experience and what he does differently in his business now to ensure that he isn’t burned again.
- With his current company, iworkinmyjams.com, Phil wants to work alongside a Shark from SharkTank. He shares this story in this episode!
- The most devastating NO that Phil experienced was when he was working with Jim Estel and Phil had the idea to create a lead generation company. Jim wasn’t interested in doing it, but Phil knew he had to trust his gut. Listen for the whole story.
- Phil trusted his gut and went ahead with creating the lead generation company, which quickly scaled to 7-figures within one year.
- Phil shares a quick little story about how he became a Forbes contributor.
- “If an entrepreneur truly believes in their gut that they have an idea and other people are saying NO, you just have to do it. You have to figure out a way to do it without requiring the help.” ~ Phil Smith
- One of the tips that Jim Essel shared with Phil was to stop worrying about what he DIDN’T do well and to focus only on what he did well. Jim also advised Phil that he believed that Phil’s big negative was that he didn’t have confidence in himself. Phil disagreed and proved it to Jim. Listen to this episode for the whole story.
- Phil shares how his values changed and how his worth increased, which led to him turning down $2.5 to $3 million dollars in acquisitions. He knew he wanted to build a small business that progressed slowly.
- Today, Phil has created a business that he really loves running and is profitable. He’s able to spend time with his children and take 45 vacation days a year, all because he trusted his gut.
- Phil shares what he would tell his younger self.
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