Business Principles 101 - #083

**Chris Williamson** (0:00)
Hi friends, welcome back to the Modern Wisdom Podcast, and welcome to a brand new series. This is Business Principles 101 I figured that myself, Jonny and Yusef, have spent a lot of time operating varying degrees of successful businesses, and we get a lot of questions asking us for advice about entrepreneurship or careers, how to start your own business. So we thought, fuck it, man, let's just start something new. I really enjoyed this. I'm certain that it's going to become a staple series as we move forward across the rest of the year. On a slightly different note, I'm afraid to say that we are back to just one episode a week for the next few weeks. I am doing a road trip across America with a buddy, and it means that I'm going to run out of content if I try to do two episodes. So I apologize that you're only going to get Mondays for the next four weeks or so, but I promise once I'm back, I have some absolute motherfuckers of guests lined up to come on. I'd love to hear your thoughts about this particular episode as well. Get at me at ChriswellX on all social media. Let me know if any of the advice helped or you want to know more. We can go in whatever direction you want to hear about. So let me know. But for now, let's get stuck in Business Principles 101
Ladies and gentlemen, welcome back. I'm joined by none other than Jonny and Yusef from propanefitness.com. Welcome back, man. Welcome back. Welcome back, indeed. Today, we are starting a new series, Business Principles 101 We have all had a lot of experience. I've done 13 years of business operating. You've had nearly a decade now.

**Yusef** (2:03)
11, yeah.

**Chris Williamson** (2:04)
11, Jonny. Something similar. It's like 30 years of combined running and failing at business.

**Yusef** (2:11)
Lots of failing.

**Chris Williamson** (2:12)
Mostly failing. We get quite a lot of requests for advice for entrepreneurship and stuff like that. I figured the wealth of experience that we have, both good and bad, could be pretty valuable to people. There should be some golden stories that come out of this. Also, all of us did business degrees of one sort or another.

**Jonny** (2:31)
Sort of, yeah.

**Chris Williamson** (2:32)
Accounting. What was your actual degree?

**Jonny** (2:34)
Economics.

**Chris Williamson** (2:35)
Was it? Okay. And then you did some...

**Yusef** (2:37)
I find this maths and business both totally useless as far as application, but we can certainly get into that. I think something that's really useful as well of hearing our failings that are to come is that if you ever want to learn something from someone, I think if you've got a choice between learning from someone who is a natural and just struck lucky first time compared to someone who was terrible or failed multiple times and grew into a stage that you've seen this progression, there's so much more to be learned from that person. Like we were saying in Relationships 103 where the guy who's been divorced 15 times knows a lot more about marriage than the guy who just happened to look into a harmonious one.

**Chris Williamson** (3:19)
You always say this about mobility, right? You want to learn from the guy who couldn't get into good squat position.

**Jonny** (3:24)
Bench press. You don't want to learn from the guy with little arms. You want to learn from the guy who's world record level but has got really long arms.

**Yusef** (3:31)
Grinding it out.

**Chris Williamson** (3:32)
Yeah. Cool. So, where do we start with business principles? I guess, come on, I don't want to hot potato you, Jonny. You are going to hot potato. I'm sorry. I apologize. Also before we get cracking, in the comments below or message me on Instagram if there's any particular areas of business that you want us to cover, any stories you want us to elaborate on, any advice you'd like us to go for with entrepreneurship or our experiences or if you need an accountant, I've got a mint accountant as well. So just, you know, magic man, Chris Ayers. So Jonny, what was your first foray into entrepreneurship or business operating?

**Jonny** (4:11)
So I was sat watching TV one summer, I think still at school perhaps, and used to read tnationbodybuilding.com a lot. And clearly you remember the thought of that that can't be that difficult to do. Like it's just a website with articles on it.

**Chris Williamson** (4:33)
Fitness blog.

**Jonny** (4:33)
Yeah, let's do that. Text Yusef, well, I actually started one myself on like blogspot.com, like one of these like really old now websites that allow you to set up a really bad website. Text Yusef and said, should we set up a website we'll call it optimumfitnesssystems.com.