Ep#6 - Interview with JT Foxx

Episode Summary

On this episode of The Australian Business Show, JT Foxx joins Nick Stehr to talk about what it takes to be successful, the three enemies of success, where people should start to become successful in business, and how to practice business.

JT is a global entrepreneur, running businesses in over 50 countries. He is also an internationally renowned speaker, author of Millionaire Underdog, investor, coach, philanthropist, and actor.

Timestamp Segments

·       [02:07] What drives JT?

·       [03:12] Finding the right people.

·       [04:11] Can anyone be successful in business?

·       [04:42] The 3 enemies of success.

·       [05:17] Where to get started in business.

·       [06:20] What it means to practice business.

·       [07:45] The ability to see into people.

Notable Quotes

·       “Doing nothing is boring.”

·       “The greatest coach in life is not success, it’s failure.”

·       “You practice until it becomes automatic.”

Relevant Links

jtfoxx.com

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Transcript

[00:01] Nick Stehr: How many times do you hear the same old story from those you look up to or aspire to be like, that the authenticity and follow through is simply not there? In a world of fake, aren’t we all searching for something real? Well, in my experience, like so many things in life, you should never give up. People who are worth following, worth connecting with, are out there, and our next guest is one of those people. He's a super successful nine-figure entrepreneur, who's figured out that people are the most valuable asset in your life, and has a purpose to help others succeed. Make no mistake, as a coach, he will hold you accountable as he holds himself, but then, isn't that what you want in a great coach? This interview is powerful in its simplicity and offers real insights into the mind of a successful entrepreneur, and some golden nuggets of advice.

[00:51] Welcome to the Australian Business Show. In today's swiftly evolving commercial landscape, opportunity and challenge abound. It's imperative to stay on the cutting edge, emulating the strategies of the most influential business leaders and entrepreneurs. Join our exclusive network as we unite with the world's elite. Together, we'll uncover their success stories, gain fresh perspectives on market trends, and learn the innovative tactics they employ to propel their companies to the forefront of success. Now, here's your host, Nick Stehr.

[01:24] Nick: Hey, JT. Thanks for being on. How are you?

[01:26] JT Foxx: What time is it for you right now?

[01:28] Nick: 01:52 a.m.

[01:29] JT: That is crazy. That just shows anything. Podcast with me, right in the middle of the morning. You'll never forget that, as well. That shows whatever it takes. I mean, listen, I've done podcasts at 2am in the morning, and I've done meetings at 2am, especially when I travel. So, I don't feel bad for you, but I'm impressed by you. So, for the average person, that’s what happens when one’s in America and one’s in Australia, and that's my time schedule.

[01:52] Nick: I agree. It's great to be on with it, too. We've known each other, now, for a little while. I see how hard you work, speaking about being up at two in the morning and things like that. Your integrity to which you hold yourself accountable, as well, to deliver on your promises, which all takes time. Now, these days, you're a nine-figure entrepreneur, globally recognized, businesses in 54-plus countries, spend an incredible amount of time traveling, and one of the best Rolodexes probably going around, yet you still make a priority out of teaching people and spending time with people that want to aspire to do and learn the things that you've done. Why? What is it that that's driving and motivating you?

[02:28] JT: Okay, what's the alternative? You do nothing, and then I'm flying into Australia again, and the fact that I'm all over the world, I never thought, when I was broke, that I would travel the world, do business all over the world, meet the people that I have met, from Brady, Messi, to billionaires, to Pacino, Stallone, Schwarzenegger. I think that's the point that people don't understand. It's that amazing little thing, that special magic that people have that just creates that uniqueness, and that's how you know you're making an impact, and I think just doing nothing is boring. The pandemic just taught us that you can just do nothing and get shut down, and it's boring. So, it's always about the next deal, the next relationship, and that's why I've always lived my life. If I don't do X, whatever X is, who could I have met, what would I have […], and what would I have learned?

[03:11] Nick: Maybe it's hard to work with people, and to find those next relationships. Did you have to go through a lot of new meetings, new relationships, to find those people that really have that same level of work ethic, that same, integrity that you have?

[03:25] JT: Most people are loyal to the opportunity. I mean, when they say they're loyal, but they're loyal as long as it suits their needs. So, it's unfortunate. I had two meetings this week. One with Bobby Castro, I know you’ll enjoy his podcast episode, 115 of mine, and he's worth about over $500 million, and then Charlie Mullins, who sold his plumbing company for $147 million pounds. I met both of them. That’s another great, podcast number 110. They just basically said the same thing. Every problem they have has a first name and a last name, and people say they're going to do something, and they don't. So, it's a frustrating need to find the right people, but I think the greatest coach in life is not success, but it's actually failure, but having a coach is how you avoid failure, but it's all people, and sometimes we just jump into things and we hope for the best, but people don't have the same integrity level we have.

[04:11] Nick: Do you think anyone can be successful in business? I hear so many successful speakers and coaches say that “anyone can do this, because I did it.” So, what's your position on that?

[04:22] JT: I mean, not anyone could do it. If you don't have the training or the coaching, or you're not working really hard. I mean, I don't think anyone can do it. I think that everybody wants to do it, but people don't want to succeed as bad as you want to breathe, which is one of my favorite quotes, because they don't have the fire. I think there's an expectation. There's three enemies of success. The first one is “I'm too comfortable,” and faced with a great opportunity that would change them, elevate them, they do nothing, and eventually they peak out. Then, the other enemy of success is people wanting a shortcut, thinking “I start a business today, I'm going to be successful.” Well, it could take five years for you to make money, but if you sustained it for 10 years, you will be successful, and then people are like “I can't do it. I can't do this. I have no money. I have this,” and then whatever you think you can't, you're probably right. So, those are the three biggest enemies of success.

[05:08] Nick: Yeah, and that's one of the things I love about you is, you speak truth, and you speak the way it is, and one of the things that draws me to you, and like working with you. So, on that basis, someone who wants to get out of the rat race, make something of themselves, get started in business, entrepreneurship, what, right now, would you advise is the business or the industry that they should have a look at?

[05:28] JT: I would advise, first of all, to be in an environment with successful people, to reach out to people like you and your family, and just infiltrate yourself around successful people. Mindset is very important, and also to choose “what do I want in my life?” And if you don't know that, obviously, get that help, but figure out “what is it other successful people do?” Success is about having the right system, the right people, doing the right things at the right time, and also with the right coaches, and we all need heroes, models, and coaches. We need people to push us outside our comfort level. I've never seen a self-made man make it by himself, whether it's an athlete, “I coached myself to success.” Someone that guides you and pushes you, motivates you. It's the same thing to go to the gym. It's a lot better to have a trainer go in there to push you to get up in the middle of the morning, because it's so easy to say “no,” it's so easy to say “tomorrow.” It's so easy to say “next time,” but it's much harder to say “yes.”

[06:19] Nick: Yeah, and you talk about, you practice business. That's one of the things that you do. So, tell me, what does that mean when you say you practice business?

[06:27] JT: I practice coming up with marketing headlines. I practice speed reading. I practice reading people. I practice evaluating businesses. I practice evaluating properties, so that when it's game time, I'm ready, as opposed to showing up in front of a deal, and if you don't practice all week, and you're an AFL player, and you show up for the match, and you don't play well, and you say “had we started off well, we would have won,” but you didn't start off well, because you didn't practice, you didn't execute. It's that muscle memory. Golfers go to spend more time in the practice range. You don't become successful on the course, because every course is different. You become successful on the practice range. So, it's no different.

[07:02] Nick: What does practicing sales look like? Give me an example.

[07:06] JT: Practice selling something that's not mine. Practice selling other businesses. So, taking for your business and say if “I was you, how would I sell your business?” You can practice pitching your business in different stories and different forms, and different finality of voices. I mean, there's a million ways to practice.

[07:21] Nick: Yeah, I listened to one of your podcasts the other day, Jeff, or somebody, he was coaching Derek Jeter. Derek Jeter, he's like, “Man, I’ve got to go because I’ve got to go practice.” He's like, “you're one of the best baseball players in the world. What are you going to go practice?” That's why I'm one of the best baseball players in the world.

[07:36] JT: You practice until it becomes automatic. So, the game’s just a formality. In fact, you practice harder than the game, and most people think you play harder in the game. It’s actually the opposite.

[07:44] Nick: Yeah. Your ability to see into people, their situation, is unlike anything I've ever witnessed before. Would you say that's a gift, or is it a skill that you've learned?

[07:53] JT: Definitely a skill you learn by paying attention. Thinking eight moves ahead. Move one, move seven, is the exact same thing. So, the eighth move’s the different one. So, I don't think anybody was born reading body language. I think it's paying attention. I think it's just looking for the angles, looking how to better yourself, looking to study people, what makes people tick, and who they are.

[08:13] Nick: Yeah. Love it. So, listen, you've already profoundly impacted my life. We only met in December last year.

[08:19] JT: Feels longer, and I made that promise. I told your wife on her podcast, which for some reason, I only tend to do you guys’ podcast. That's the funny part. I usually say no to the majority of them, but it's interesting because we met, firstly, I noticed you in the front row of the event, but what was crazy was that I had a meeting across the street at a hotel, and you guys happened to be there, next to the booth, and I don't know if things would have been different, if that was not. I don't know, would have been, then you and I went on stage, and backstage with Tom Brady. I still remember those conversations. I gave you my word, and sure enough, I've delivered and continue to deliver, and anybody who's listening to this, you need to connect with Nick, but not only his family, and apparently, I just found out I'm seeing you on Saturday. So, you guys are flying in just for me?

[09:05] Nick: Yep.

[09:06] JT: You're killing me. I'd much rather fly into the Gold Coast. I have to be in Brisbane. So, that's great. 

[09:12] Nick: We're going to fly in on Saturday. We'll catch up Sunday morning, and then we're out to Dubai on Monday morning at 5am.

[09:20] JT: So, you’re flying Brisbane out to Dubai?

[09:22] Nick: Yeah.

[09:23] JT: All right. What hotel are you guys at?

[09:24] Nick: No idea.

[09:25] JT: This is what happens when you have a friendship with somebody. You do a podcast and then you plan your schedule. That's when you know the authenticity of the podcast, but I appreciate you having me on to be part of this journey of success and this amazing podcast you have, and the amazing people you're going to have.

[09:37] Nick: Brilliant. Appreciate you being on and appreciate you very much.

[09:41] JT: Thanks.

Thanks for listening to the Australian Business Show. Don’t forget to rate and review us wherever you download your podcasts, and join us next time, as we uncover more success stories, gain fresh perspectives on market trends, and learn more innovative tactics to propel your company to the forefront of success. Thanks, again, for listening.