Boss Brain: Unlock Your Entrepreneurial Instincts And Live The REAL American Dream With Author, & Speaker Tra Williams on Episode #0209

Intro [0:00]
EA interviews, Episode 209. Inspiration, transformation, success stories and the Imperfect Action Round seven days a week. Join Mario Fachini for today’s Expert Authority Effect Interview.

Mario Fachini [0:13]
Have you ever thought about starting a business? You want to live the American dream? you have that entrepreneurial spirit; you want to do your own thing? You may want to but I have a question for you. Do you have boss brain? I’m excited to have Tra Williams on the show today. He’s the author of Boss Brain. And he’s going to be talking about what it means to live the American dream and achieve your goals. What does it take? I’m excited to bring them up right after we thank our sponsor,

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Tra Williams [1:00]
I’m doing fantastic. Thank you so much for having me here, It’s really a pleasure.

Mario Fachini [1:03]
Oh, it’s my pleasure. I want to dive right into Boss Brain and know what you know, because there’s so many people I just know that want to have their business, or they might already have one, but they just not might have the mindset that it takes. So, what would you say it takes to live the American dream and have that entrepreneurial spirit?

Tra Williams [1:23]
You know, it’s interesting, because America is still ranks third in the world. As far as entrepreneurial spirit is concerned, we ranked third, right? To go and Poland, ironically enough. And what that means is about 70% of Americans want to be self-employed, and that’s a huge number, that’s 100 million people. The painful statistic is that less than 7% actually is self-employed. So, there’s this massive disparity between people who are thinking about it, and people who are actually doing it. And that’s largely due to the fact that we’re becoming victims of our own success. But we’ve been taught and learned how to become employees. And it’s something that we have to unlearn in order to really tap into that instinctive part of our brains, the entrepreneurial.

Mario Fachini [2:12]
Why do you think so many people are just wrapped up in the employee game?

Tra Williams [2:19]
Well, there’s several reasons behind that. First, it’s what we’re told from the time we go to first grade, go to school, get a job, buy a house, right? you put yourself in this position with a mortgage and with obligations, and with all of the things that are required, quote, unquote, for the modern-day life, and you end up spending more time maintaining life than you do living it. But the other component of that is that in the Western world these days in America, the base of Maslow’s Hierarchy is largely fulfilled, we have a lot of safety, we have a lot of predictability, even the poorest people in America, they earn about $12,000 a year and the median income for the planet is $10,000. So, what that means is that the poorest people in America make more than half of the plan. And as a result of what I like to call in the book, Predictable Adequacy, we’ve become very complacent.

Mario Fachini [3:15]
I was going to make a joke about the Maslow’s Hierarchy and say is that why always has Wi Fi on the bottom, but at the same point, that’s some serious statistics. And it’s really eye opening, because, the poorest people have more money than half the world. And I’m surprised also by the 7%, I honestly thought there was more maybe it’s just the people I know and run with, but it’s really only 7% actually do.

Tra Williams [3:47]
Yeah, so you can go to the National Bureau of Labor Statistics and see this really painful graph that shows from the midnight 1840s, until today, with very few exceptions, self-employment has decreased every year, there’s been a few years where its uptick a little bit, but the trend overall is significantly down. You have the same reaction as everyone Mario, you were the most entrepreneurial country in the world, right? This is what we’re told from the time we’re kids, is go live the dream that you’re supposed to live, go be your own boss, go start this, go do that. But we get a lot of conflicting messages as we matriculate through the sort of process of our education, and we try to assimilate into society. And as a result of those conflicting messages, we tend to choose the most predictable option. And I’m not vilifying employment in any way, shape or form. What I’m trying to do is to help rescue some of those people that feel trapped in employment, who know that their destiny was entrepreneurship and have yet to figure out how to navigate that sort of ethereal world between traditional and self-employment.

Mario Fachini [4:54]
You don’t need to vilify it, I might though.

Tra Williams [4:58]
Well, I mean, it has its…

Mario Fachini [5:00]
I’m trying to behave, but yeah, I mean, you’re, literally bringing up everything. I started my first business at 12. And I’ve been running my mouth about this pretty much since then, you know, especially in high school, and there’s a whole lot I could say that I was saying in High School, like, I hate High School mentality in High School to High Schoolers, right, step one of How to Win Friends and Influence People, right there. But I mean, when you have something so ingrained in your heart, and you just know, you, you were meant for doing so much more with life? you know, it’s like, how can you deny it?

Tra Williams [5:37]
You know, I have an entire section right in the introduction of the book. And we talk about the difference between your Modern brain and your Boss brain. and, and I coined this term, really, because it’s that part of your brain, that primitive part of your brain is hardwired for Independence, and it doesn’t mean that you want to be other people’s boss, it just simply means you want to be your own boss. and we’re hardwired with these instincts, the number one of which is Optimism. If you haven’t read Tali Sharots, book Optimism Bias, you definitely should. And you realize that these feelings that you’ve had, since you were small, have picturing what your future could be like, and invariably, it’s almost always better than the present or the past, we’re actually genetically hardwired to feel that way and to seek it out. And the trouble is, what happens is Optimism is what our heart is telling us and it’s predictable. Adequacy is what our head is telling us. And that wasn’t so much of a battle eon ago, this battle between Uncertainty and Optimism. But today, when the world offers so much certainty, you’re almost guaranteed employment outside of the current situation that we’re in, Right. Last year before the pandemic hit unemployment rates at an all-time low, historically, for the Nation, and in a variety of different ways. There were wages on the increase jobs are there. So, there’s an enormous amount of safety, there’s an enormous amount of predictability. And people are having a harder and harder time leaving that predictability.

Mario Fachini [7:07]
So, let me ask you this, if we have more certainty than ever, why do you think people still don’t go for it?

Tra Williams [7:20]
So, I talked about the Goldilocks Zone in the book, and that that point is where you have enough predictability, where you’re comfortable inviting a little bit of risk. But your comfort isn’t so certain that you’re completely averse to change, and that particular combination is more often than not within the middle class. It means those who make a tremendous amount of money as a W-2 employee are less likely to leave that job and start something on their own. And statistics have proven this. And those who make the least amount, are least likely to leave that and do something on their own. They’re not pushed into it, despite popular belief. So, the middle class are in that Goldilocks Zone. And there is a one-to-one direct correlation with the rise of the quality of life and the middle class in the United States and the decline of entrepreneurship. It’s an absolute opposing line entrepreneurship fail as the increased quality of life for the middle-class reps.

Mario Faccini [8:25]
Wow.

Tra Williams [8:26]
It’s so, right.

Mario Fachini [8:28]
This is pretty sobering.

Mario Fachini [8:34]
I get that reaction quite a bit. most people don’t believe me, I have to take them to the National Bureau of Labor Statistics side.

Mario Fachini [8:40]
Well, I believe you, but, it’s just a matter of, I’m thinking of the people who I’ve encouraged forever. And it’s why I love doing what I do, because there’s people who have never done it yet. you know, when I did my first book, I failed English seven times. So, writing a book was never like, I woke up and I was like, here’s my dream. and 20 years from now, I was it just was this whole emotional conflict, self-identity crisis, and it was like, whatever. But that was years ago, and there’s people that told me then, I’ve always wanted to write a book, and they would have been way better at it truthfully, back then I’m pretty good now, after five of them, but they still haven’t done it. And my first book was in 2012, they still haven’t done it. So, these are people I genuinely care for. And I would be running my mouth about them. Maybe even have them on the show because they don’t know what the heck they’re talking about. They just didn’t bridge that gap. So, anytime I hear someone that goes, I want to do something, I do everything I can to encourage them and inspire them to do it. And then like with my clients, they’re already successful, but they want to get to that next level, and I’m just thinking of people in both categories where it’s like, you know, I want to ask you, what would you say to someone who wants to go from here to here or that next one? Maybe, I just did ask you, how can we get more people on our side in winning, no matter where they’re at, that’s a great way to word it.

Tra Williams [10:08]
So, in the book, we talk about the four instincts, the Primary Instincts of your boss brain. Okay, the very first one is belief, and a lot of people hear belief, and they feel like this term is a little hokey, because they relate it to faith, or they relate it to Santa Claus or something else and say, do you believe this, but the truth is, belief is the foundation of every action that you take every single day. so, you stop at a red light, because you believe if you don’t, you may get into a car accident, you go to work, because you believe you’re going to receive a paycheck. So, in a lot of ways, everything that you do, no matter how small was born of belief, so you can’t dismiss the importance of that as it relates to beginning to take action. And here’s the reason why, Belief is made up of three components. Optimism is the first, and that’s why we talk about this battle between Optimism and Certainty. A lot of people out there who have this vision of the future and they say, God, I know that I have the ability, and I just don’t know how to get there. so, they have this Optimism. The second component of it is Self-Efficacy, those are the people who say, I know that I have this vision, and I know I have the ability to get there. But even those folks, Mario, they don’t actually make significant changes in what their future is going to look like. Because the third component is Action, if you don’t take action based on your Optimistic View of the future, and based on your Belief that you have the skills to make that future a reality, then tomorrow will look exactly like today. so, without action, nothing is going to happen, and to answer your question, more specifically, Belief is reverse Engineering. you can’t just wake up one day and believe that something is possible. The only way to begin for those who have their doubts is to begin taking Action, even if presently you don’t believe because after a while taking action forces you to see yourself differently. And you start looking at yourself as the kind of person who can succeed and who does take action, and as your perception of yourself changes, everything cascades after that.

Mario Fachini [12:15]
I like hearing that, when you’re talking about that Action, would you say that’s also why some people who take Action, but they might not have the Belief fully still get in a trap of just constantly being in Action trying to do something but it never gets any traction?

Tra Williams [12:35]
Sure, well, Chapter Seven is largely about Focus, and it is one of the Four Instincts, the Primary Instincts with belief being the first and we really go to great detail in the book to talk about the difference between being busy and being productive. And I can’t say enough about the world that we live in right now. It’s the most distracting environment, probably in the History of mankind, I feel like I could say that as a superlative. And our brains simply weren’t wired to be inundated with this amount of information, let me give you an example, let’s say we compress the human brain’s existence into 60 seconds. you must go to school, buy a house, get it or still go to school, get a job, buy a house, this blueprint for American mediocrity has existed for four tenths of a second. so, what that means is for 96% of our existence, our brain never had to deal with notifications coming out on our phone and things being pumped into our inbox, and in a variety of other white noise that we’re inundated by, and as a result, we’ve confused being busy with being productive. And the amount of focus that Entrepreneurship requires, is just not conducive to living a life that is based around filling your calendar. It’s actually living a life that where you clear your calendar so you can focus on what your… what is the most important.

Mario Fachini [14:04]
Preach. I mean, seriously, there’s so many people, like I’m doing this and it’s like, when have you made any time for yourself? Because, when I’m working with my clients for client acquisition, we talk about maximizing profit. Well, time and time freedom can be a form of profit. If you know, oh, I want to do all these things to grow my business to X amount of point, you know, x point. So, I can do such and such. Okay, cool. Well, what does that look like for your new day? It’s not waking up and still working your tail off like you did maybe the first six months or a year or two to get to that point. And I remember years ago, I was like, I was cooking dinner and I liked to cook, I like to eat and I go, what would I like to do with my time I go, you know what? I like to cook like seriously cook like cook more my nephew, very proud of him and his wife, they graduated Culinary Institute of America, their Professional Chefs. Whole family likes to cook. I mean, we’re Italian. I mean, what do you expect? And it’s fun. I want to, you know, learn Culinary, I want to play my sex more, I want to go swimming more, want to go boating more, and I go, why don’t I go down to the pool right now? Why don’t I get a sex back Why? I was like, looking at all these things. Like, when I have this perfect existence, and I go, holy crap, I can do all this now. So, I started looking for ways to free my calendar to make room for that. Because, if you’re just always on the Hamster Wheel, I mean, even in your own business, you don’t need to have a job to be on the Hamster Wheel, you can create your job within the business.

Tra Williams [15:50]
Yeah, there were several iterations of the cover of my book before we reached the final that actually included a Hamster Wheel ironically, that you said, yeah, it really did. We didn’t end up going with it. But we discussed it heavily. So, there’s a Chapter in the book about Time, and you’re talking about time as itself can be a type of profit. But it also can be the opposite of that, because there is no Poverty, like Poverty of Time. If you’ve obligated yourself in so many ways, where you are, you simply don’t have the time to do anything else. Not only do you like the physical time to do it, but you lose the mental resources that you have inherently. And here’s why, without time, you’re constrained in a way that limits your natural creativity, your natural ability to innovate, it goes out the window, it disappears completely, you become more beautiful, you become very head down, let me just get my stuff done here. I’ve got to get this done today. And you stop thinking about creative ways to say, you know, I could probably do this better. Or maybe there’s a way we can maximize or make this more efficient, or even better, because Optimization, in my opinion, should come after your Business’s already successful. Maybe I can come up with an innovative way to launch me out of this scenario entirely. And that’s the breakdown for people who want to be an Entrepreneur can, they’re so head down, so dutiful, because they chewed up all the time, they have tried to maintain this life that they have, they can never escape that Hamster Wheel, but there are.

Mario Fachini [17:20]
What are some things that someone could do to break free from that right now?

Tra Williams [17:25]
Right now, the first Primary Instinct was Belief. The second one is Accountability, and I got to say, this is a really painful one in America right now. Because no one wants to take blame for anything ever. In the History of this country, there’s never really been a time where fewer people have been willing to raise their hands and say, this is my fault. so, I’m not going to speak to how we arrived here culturally, but I think I can speak to how we might move on from that place. And that is to recognize that outside of the children of the generationally poor, in this country, where you are cloaked in Liberty, the life you have is the life you chose. And that might sound harsh to some people. And I don’t necessarily mean it to because some people are dealt a hand that is insurmountable. And those types of catastrophic events aside were my qualifier, if you have not suffered from one of those, the life you have is the life you chose, and you’re the person that got you in this position. So, you’re the only person that can get you out of that position, you can’t be rescued from it, we’re going to try to help with this book. But ultimately, those decisions are going to have to be made on the ground, right there in the hearts and minds of all those aspiring

Mario Fachini [18:17]
In the end, that’s very true. And everyone has background that are different. But it’s interesting. and I thought about this one time and years ago, when I wasn’t having the success I wanted. I mean, I don’t think any of us are ever where we want to be ever, you know, where, but that’s why, you know, I think gratitude’s important and you know, right now I’m living the Life I was dreaming one, Two, three, four, five years ago, right? It’s not where I want to stay. But at the same point, it’s like, you have to realize it. And you know, everyone goes, I wish we knew about the good times when we’re in them, because it’s always after the fact it’s like no, you can be appreciative. right now. Yeah, but it’s interesting, because I thought one of the reasons I wasn’t succeeding was because I didn’t have a hard enough or upbringing. Because everyone I started looking at the backstories as like, you know, there was one time I thought maybe I should be sleeping on the floor every night, because, I don’t want it bad enough for something and I was like, what is the differentiator? Because, you know, you see people and it’s not hard to research them. And I was like, man, their life sucked, their life sucked there. And I was like, well dang it,do I need my life to suck, just to like succeed? I don’t advise this because then I started doing things to make things worse, which didn’t help. I mean, it’s somewhat illogical. But at the same point, I’m just like looking for the correlation. The one common denominator was my own Self Belief, like you’re talking about. It wasn’t there, no matter if I was jacking stuff up, or everything was great.

Tra Williams [19:25]
So interesting about what you’re talking about there is, the difference between a Fixed and a Growth mindset. and part of accountability is for you to stop measuring yourself against those around you and start measuring yourself against your own potential against your own abilities. And I’m not even going to say abilities.

Mario Fachini [20:51]
I wish I knew this two decades ago.

Tra Williams [20:54]
Well, I say, you know, to measure yourself against your own ability to state sustained effort, because honestly, I think hard work beats talent every single time. and we find ourselves in this position, where we’re inundated with information of what the dream life should look like via Social Media and everywhere else, and you’re comparing yourself to 7 billion people on the Planet, not just those around you, or those in your segment. So, we become fixated on that version of Success. And we start thinking about, well, Am I 1%? better today than I was yesterday, where am I in the broad spectrum of what I’m capable of in my lifetime? a great book on this is James Clear as a Common Habits, sold millions of copies, if you haven’t read it, you should run out and buy it immediately. But he does a very good job of illustrating the importance of a Growth mindset, and eliminating this idea of I’m trying to move forward, but the net forward is relative to those around me. Instead, you should be thinking of, I want to be better than I was yesterday, regardless of what those around me are actually doing.

Mario Fachini [21:59]
Yeah, I couldn’t agree more now. But I’ll tell you, I wasn’t even comparing myself to those around me. There was no Social Media at the time, and the examples were Millionaire Celebrities, CEOs and Billionaires. And I’m like, sixteen, eighteen, twenty. twenty-two, I’m like, I look back now going. Yeah, I probably shouldn’t compare my worst to someone else’s best to has a 40-year advantage. Exactly. With the exception of Zuckerberg, we’re about roughly the same age. And I was like, Okay, cool. good for him, but what am I doing wrong? Well, I don’t know coding to begin with. So that’s just the start of it. But, you know, we all have these comparisons of, you know, maybe it is someone around you. But also, if you’re going to someone who’s exponentially in a different realm, It just doesn’t make sense. so, once you get past that aspect, and you start that action phase, are there any specific actions, you should say, you could say, take these on a daily basis, no matter where you’re at, just to ensure your success for the next 612 months moving forward.

Tra Williams [23:13]
So, where we are in this world right now? I think everyone’s particularly sensitive to risk. and most folks out there tend to confuse Risk and Uncertainty, and they look at the idea of being an entrepreneur, and they say something hyperbolic to me, I hear this all the time. they say, Well, what if I lose everything? which I think is a ridiculous question. Because that would require that you risk everything, and I would never tell someone to risk everything, I would say, take a measured risk that’s commensurate with your level of risk aversion and your tolerance personally, begin small and make tests of the market find out what works before you go all in. But, what tends to happen is people have this vision of what they want to make happen, and they’re so focused on that vision, that they’re not paying attention to what the market is telling them along and along about that vision, and about whether that’s even viable, or about the amount of whether it will even be relevant by the time you’re able to achieve that vision. So what I would say particularly right now, in this Climate that we’re in, is, there has never been, and there never will be a perfect time to begin. So, every day you do not start is another day lost that you can never recapture. And here’s a salient point that I make in the book that I’d like everybody to remember. Time is never saved. People always talk a lot and they say, Oh, well, I’m going to save so much time with this, that that’s complete BS. you cannot save time, It’s not like rollover minutes from T Mobile in the early 2000s. Where you can use them next month,

Mario Fachini [24:48]
Right, singular wireless.

Tra Williams [24:49]
Right singular, right? so, it’s not possible, so time is either redirected or it’s wasted, period. Those are the only two options. so, all those little efficiencies in your life, from your washing machine all the way down to the phone that’s in your pocket. It is optimizing your life in an enormous number of ways. But what are you doing with that time that it has afforded you, I’ll tell you what they’re doing with the time, the average American stares at their phone for three and a half hours a day, the average American watches television for three and a half hours a day, and the average American does 110 minutes a day of housework, that’s eight hours a day, and those are real statistics, you can go to the book and pull them from the studies, they’re very current 2018 – 2019 numbers, that is eight hours a day. And I’m not saying that every one of your; your watchers and listeners right here are guilty of this. But that is an average number, so what that means is half the people listening or roughly, are actually spending more time than that on those items. So, there’s a tremendous disconnect between what we say we want and in the amount of effort that we’re actually willing to put forth.

Mario Fachini [25:59]
Wow.

Tra Williams [26:02]
Preach, right.

Mario Fachini [26:03]
Yeah, I mean, and for the record, you say whatever you want, because I don’t need to ask permission, and I’m loving this, and I know Expert Authority World is also, the only thing I’ve ever asked anyone because, I’ve had people say this isn’t going to be PC. this isn’t me. I go, Hey, it’s you. you have the Freedom of Speech, you know, we still do God bless. I just want the truth. so, you know, I think too many people are lied to nowadays, I think too many people sugarcoat everything, loving everything you’re saying, just wow.

Mario Fachini [26:41]
Well, there are 65 different white paper studies that are referenced in the book and 14 Chapters. So, with any chapter, there’s roughly three different Scientific Studies that are used to back up everything that I’m telling you here, and also to back up the methods that we’re using in order to make that escape from traditional employment. So, these things aren’t necessarily my opinion. I can very quickly get on my Soapbox about them. As you can tell, I’m passionate about it. But this is really grounded in very, very, it’s an Academic Research and white paper scientific studies that have proven what I’m saying. so, it’s a painful reality, when you hear what’s happening here, especially when you’re an entrepreneurial guy like you or me, and you hear this statistic about what’s happening. Let me give you one that’s going to probably be the final nail in the coffin for you on that place. By the by the mid 20-40s, 99% of Americans will work for the other 1%. full stop, I don’t know any other way to say that. It’s went from 12 and a half to 13%, 20 years ago to six and a half percent today do the math on that. That means somewhere around 20-40 to 20-43, 99% of the most entrepreneurial country in the world supposedly will work for the other 1%, and here’s what’s really painful about that. Entrepreneurs, on average, give about $1200 more to charity than folks who are traditionally employed, the sons and daughters are significantly more likely to be entrepreneurs themselves of an entrepreneur. Entrepreneurs are more civically engaged; they vote more often they volunteer their time more at nonprofit organizations. So, all of these things point to being self-employed actually creating a more civil and harmonious society. And if that’s the case, how civil and harmonious do you think we’re going to be when 99% of us work for the other 1%, I got a newsflash, it’s not going to be civil harmonious, because everyone’s going to feel oppressed. But we’re the ones that allowed ourselves to be placed in this position by not taking that action now.

Mario Fachini [28:46]
Right, I got some new questions I’m going to ask you at the appropriate time. I’m loving this. We’re going to go to the Wheel of Whatever and thank our Sponsor, and come back for the Imperfect Extra Round, but I am loving everything you’re sharing, and we’ll do this at the end also, but where can people learn more because I know they’re chomping at the bit to learn more right now because I’m feeling it.

Tra Williams [29:14]
So, the easiest way is to go to TraWilliams.com, and there you can connect me with me on Facebook, or LinkedIn or Twitter, and you can also send me a note there and those come directly to me by the way, and I love getting questions and comments from folks, and this is a subject that I love to engage in, so you can go directly to my website.

Mario Fachini [29:37]
I’m noticing that just a tad

Tra Williams [29:41]
Right, sorry.

Mario Fachini [29:42]
Just a tad. No, don’t apologize. I’ll just say it instead of one word done with everything, I definitely want to dive deeper and do more with you because I love what you’re doing. And I think more people need this, I really do sincerely wish we had like three or four hours? Because, you’re saying stuff I have not heard in at least a decade, possibly ever. Maybe I heard it, like when I was very, very brand new, but most people are playing in the box, like, you know, here and here, and you’re bringing back new information, and I would love nothing more, I think we have the same mission as to see more Entrepreneurs. That’s what I’m going to ask you. I had something good, I was going to ask you, where do you see, hold on, let me get the wheel. This is the Wheel of Whatever. It always gives us a random question

Tra Williams [29:42]
Scientific.

Mario Fachini [29:48]
It is, and, I was biting my tongue when you were talking about having a Hamster Wheel on the cover? Guess what it is? My original question was going to be, where do you see the United States by 2020, by 3000? But I actually have a new one, and you can answer that. I mean, do you want to?

Tra Williams [31:08]
Right, 3000? So, close to 1000 years from now you’re thinking?

Mario Fachini [31:12]
Like 80?

Tra Williams [31:15]
You mean, 2100?

Mario Fachini [31:16]
Yeah, that one, one of them, Like, you’re given the stats for 2042, and I’m thinking Well, where’s it going to be? Yeah. 2100 that one?

Tra Williams [31:25]
Yes. so, I would like to think that the empowerment that the digital age that we’re in, sort of creates a tidal wave, and eventually there’s a lot more autonomy and self-employment in the world by then, because the consumer age will have panned itself out. And that’s what I’m hoping for whether we make it there or not, I don’t know. But I think the Consumerism really took the place of creativity and Entrepreneurship. and I would like to see that trend reversed.

Mario Fachini [32:00]
The second part to the question, and I am going to ask you, but do you think we’ll still be around in 2100?

Tra Williams [32:10]
I may not, I turned 47. last week, so 2100 might be a tall ask for me. But I would hope that people are still reading the book, because if we hadn’t gotten our ducks in a row by then, then it would be more important than ever.

Mario Fachini [32:22]
Okay, so the question, I came up with that, because that was the original going to be the Wheel of Whatever. But when you made those comments about 2042 – 2043.

Tra Williams [32:32]
Right.

Mario Fachini [32:32]
How do we stop this and get 10 to 20% by 2035, or 2040?

Tra Williams [32:41]
Right. So, I’m glad you brought up 20%. so, in 1945, when this decline began, Entrepreneurship, Self-employment was roughly 20%. So, that’s a good number to start with. what that would require, if we wanted to reach that number is for 25 million people to start their own business. That’s how far behind we are, and that would add based on current numbers, not inflated values of whenever we got there, that would create roughly $20 trillion of economic output, a number that is just short of our national debt. So, there’s no small coincidence between the fact that the shortfall that we’re in in Entrepreneurship, that the entrepreneurship gap there economically matches our economic debt almost perfectly. So, as we become consumers more and more and more, the debt in our society is built around debt, right? So then the National debt seems to mirror that. And I’m not implying causality there. Because, I’m sure there’s some Statistic Press Professors who would love to point at me and say, no way, those two are directly related. But I find it in an uncanny relation.

Mario Fachini [33:56]
You can be proper because I’m not going to, so that’s good for, I say that every few episodes with the fact checkers, and it’s just like, I’ll just leave it at that, because I’m being pretty haved today, and I’m going to continue to.

Tra Williams [34:14]
Well, you know, I’m old enough to know that I don’t have to know causality. But I can recognize correlation.

Mario Fachini [34:20]
Yeah, I mean, I’ve said since High School, some of this stuff is just common sense, how do you not see it? I didn’t know stats, I still don’t, Well, thank you for the inspiration, that sounds good, and I would love to get it. I mean, I’ve thought about that, you know, when America took off in the 40s after the war, because of the war, whole other thing.

Tra Williams [34:45]
Yeah. 100%.

Mario Fachini [34:48]
How do we get back to that? Because I just noticed things over time, and I didn’t and I don’t like where it’s going, and it’s why I like doing what I do. so, thank you. for being on the right side of it, we’re going to thank our sponsor, we’ll come back to the Imperfect Action Round. But I really would like to expand on this greatly.

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Mario Fachini [36:40]
And we are back with the Imperfect Action Round. Tra, are you ready to take Imperfect Action?

Tra Williams [36:47]
Bring it on.

Mario Fachini [36:47]
Right, three rapid fire questions and answers 60 second responses. First one is, what is the fastest path to the profits?

Tra Williams [37:00]
Being uncomfortable, I don’t need 60 seconds for that one. Comfort is a cage and it creates complacency and profits. The system is designed to process not produced. So, if you want to produce profits, you have to find somewhere that where you’re uncomfortable. This is widely known and spoken up quite a bit, but we don’t like being uncomfortable. But the good, get comfortable being uncomfortable is the fastest way to profitability.

Mario Fachini [37:28]
Awesome. I don’t want to do it, But I know I need to, and that’s why I do, but thank you for bringing up that hole in my shoulder, Number two, what is the biggest problem you see your prospects making and the fastest way for them to fix it?

Tra Williams [37:49]
I think that indecision is the biggest problem that I’m seeing right now everyone is incredibly afraid to fail, and every lesson that I rely on for my personal success is founded and based entirely on a time when I made a mistake, you can’t learn unless you make those mistakes. So, this fear of failure is especially in it being so widely publicized, the way our lives are these days, is really causing a lot of indecision, and it’s causing a lot of folks to really not be able to translate their goals into reality.

Mario Fachini [38:29]
Very good, Number three, what is the best way to maximize customer lifetime value?

Tra Williams [38:37]
You know what, this is a particularly sore spot for me and customer appreciation and communication and experience is something I’ve been dealing with him when I was in the Franchise Industry quite a bit. And what I’ve noticed is that there’s no more command over the process, here it’s very rarely when I interact with any retail service industry, Online Industry, where I’m proactively communicated to by someone that says, let me explain to you how the process is going to work. I’m going to be your point of contact for that when you got any questions about it. I’m the person that you should be asking. But if you have to ask a question, it means that I didn’t do my job. And that simply doesn’t happen anymore. Everyone sits at home using a tracking number trying to figure out well to hear the you know, where the hell the things are that they ordered, or what is what’s happening and services largely going out the window. But not just from a hospitality standpoint, it’s about communication, and the companies that get my dollars consistently are the companies who communicate to me so that I don’t have to use up brain sales to wonder if that that thing or what they promised me is actually going to transpire, I see this all day every day I had this conversation with someone yesterday that said, I feel like I spend the majority of my day reminding people to do what they said they were going to do. So, if you want my life time value if you want my dollars forever, then do what you say you’re going to do and never put me in a position where I have to ask a question. I know that was more than 60 seconds, but that’s okay,

Mario Fachini [40:09]
That’s good. Spit that fire. you’ve mentioned a few of them, but if there’s any others, what are some books that you’d recommend the Expert Authority World?

Tra Williams [40:21]
You know, most Entrepreneurs, rightly so, outsource their money and bookkeeping management, they have CPAs and Investment Advisors, and that’s what they should be doing. But it doesn’t give you an excuse for not being financially literate, and understanding how this world that we’re living in actually works. so, you need to pick up the book, there’s two books by the person who wrote the foreword for my book, Dr. Daniel Crosby, wrote a book called The Laws of Wealth, it was a New York Times best-seller, and just follow up to that it’s called the Behavioral Investor. The Behavioral Investor is one that is a punch in the gut, because it makes you realize how much wealthier you might be if your brain wasn’t so filled with self-deceit and bias. And I can’t recommend that one enough because it makes you realize how not only are you at fault for a lot of the financial mistakes that are out there, you’re actually complicit in it for invisible and often unknown reasons. But he brings those to light, you really should read both of those books.

Mario Fachini [41:19]
Excellent recommendations. Thank you for those, I’ve thoroughly enjoyed this where can people learn more?

Tra Williams [41:27]
They can go to TraWilliams. com and learn a lot about me there’s a new website will be launched in a few weeks, but the one that’s up is very functional. and you can go to get BostonBrain.com/waitlist. And there’s a limited quantity of books that we’re only making available to listen to Podcasts. so, this isn’t advertised and a lot of places and sign up on the waitlist to get one of the books a few months before it hits bookstores, and those should be coming out in the next couple of months.

Mario Fachini [41:51]
Excellent. Well, thank you so much for your time, and I really have enjoyed this. I want to talk to you further but this has been great. Thank you again.

Tra Williams [41:59]
I thoroughly enjoyed it. It was a pleasure to be here. Thank you for having me.

Mario Fachini [42:03]
Well, Expert Authority World, we have another great episode here today. I’ll see you tomorrow. Have a great day. God bless.

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www.EAINterviews.com [42:58]
Hey, thanks for listening to today’s episode. I hope you got a lot out of it. I know I sure did. If you haven’t done so already, I invite you to subscribe to the show. And also, be sure to check out ea interviews.com for complete show notes, the full interview video experience links to the resources we mentioned and more. Have a blessed day and I’ll see you tomorrow.