WEBVTT
1
00:00:00.171 --> 00:00:05.079
James Dyson made 5,127 prototypes before he got his vacuum right.
2
00:00:05.860 --> 00:00:15.154
And that sounds inspiring until you realize people hear that story and use it as permission to make the same bad podcast episode for five years.
3
00:00:15.875 --> 00:00:17.216
Here's the value right up front.
4
00:00:17.856 --> 00:00:24.081
You just need three tests to know whether your work is compounding or whether you are just repeating yourself.
5
00:00:25.042 --> 00:00:30.005
They are the signal test, the asymmetry test, and the identity test.
6
00:00:30.626 --> 00:00:39.012
By the end of this episode, you will know exactly how to use those tests before you give another year of your life to a project that might need a pivot.
7
00:00:39.032 --> 00:00:39.092
So.
8
00:00:42.083 --> 00:00:43.224
Welcome back to your mic.
9
00:00:43.444 --> 00:00:52.773
My name is Freddy Cruz, founder of Speak Podcasting and the Speak Originals Network, home to shows like The House of Theft and Made in House Houston.
10
00:00:53.433 --> 00:00:58.178
Learn more about these podcasts at speakpodcasting.com slash speakoriginals.
11
00:00:59.373 --> 00:01:12.091
Now, today we're going to talk about the art of patience, persistence, billionaire origin stories, and the difference between staying in a worthwhile game and hiding behind the long game.
12
00:01:12.511 --> 00:01:14.214
Because changing course is scary.
13
00:01:15.535 --> 00:01:15.856
First,
14
00:01:16.849 --> 00:01:19.351
We're going to talk about the myth you need to drop.
15
00:01:19.892 --> 00:01:21.133
Her name is Sarah Blakely.
16
00:01:21.774 --> 00:01:24.496
She faced rejection while trying to get Spanx produced.
17
00:01:24.976 --> 00:01:28.119
Amazon absorbed years of criticism and losses.
18
00:01:28.860 --> 00:01:31.683
James Dyson, you remember that number of prototypes?
19
00:01:31.903 --> 00:01:33.004
Yeah, 5,127 in case you forgot.
20
00:01:33.024 --> 00:01:34.885
He made that many prototypes before his bagless vacuum succeeded.
21
00:01:35.846 --> 00:01:39.570
He made that many prototypes before his bagless vacuum succeeded.
22
00:01:40.867 --> 00:01:44.790
All are true enough, but the takeaway is not never quit.
23
00:01:44.991 --> 00:01:52.237
The takeaway is not if I just suffer longer than other people, success will eventually award me a trophy and a yacht.
24
00:01:53.258 --> 00:01:53.478
No.
25
00:01:54.777 --> 00:01:59.318
Those stories only become useful when you look at what happened inside the time.
26
00:02:00.218 --> 00:02:06.160
Testing, iteration, feedback, new info, a changing strategy.
27
00:02:06.620 --> 00:02:15.262
Dyson was not manufacturing the same failed prototype over and over and over and over and over again while whispering affirmations into the mirror.
28
00:02:16.823 --> 00:02:17.463
He was learning.
29
00:02:18.665 --> 00:02:23.467
That is the difference between persistence and self-delusion.
30
00:02:24.047 --> 00:02:24.908
Test number one.
31
00:02:25.568 --> 00:02:26.989
We talked about those three tests.
32
00:02:27.489 --> 00:02:28.289
Here's the first one.
33
00:02:28.669 --> 00:02:29.750
The signal test.
34
00:02:30.570 --> 00:02:36.213
Ask yourself, as the podcast host, am I getting evidence that I am moving closer to my goal?
35
00:02:37.487 --> 00:02:48.314
Not necessarily viral evidence or a first episode that reaches a thousand downloads or a 95% retention rate on Apple Podcasts.
36
00:02:48.935 --> 00:02:54.839
Not necessarily revenue, but what are your titles improving?
37
00:02:55.679 --> 00:02:58.061
Are better people replying to your outreach?
38
00:02:58.081 --> 00:03:00.843
Are you getting more specific feedback?
39
00:03:00.863 --> 00:03:00.963
Yeah.
40
00:03:01.652 --> 00:03:08.076
Are clients referencing actual episodes in conversations that you don't know about until after the fact?
41
00:03:09.037 --> 00:03:10.197
Are you getting better no's?
42
00:03:10.597 --> 00:03:14.500
No's from people or rooms you could not really get into a year ago.
43
00:03:15.340 --> 00:03:20.684
The signal test, it doesn't require instant success, but what it does require is movement.
44
00:03:21.344 --> 00:03:27.168
If literally nothing is changing, don't, do not, ever call that patience.
45
00:03:28.410 --> 00:03:30.131
Call it a diagnostic moment.
46
00:03:30.571 --> 00:03:38.515
You might just need a better format, sharper positioning, more distribution, different guests, or a completely different offer.
47
00:03:39.196 --> 00:03:41.977
Here's the second test, the asymmetry test.
48
00:03:42.878 --> 00:03:47.180
Ask yourself, if this works, is the upside worth the investment?
49
00:03:47.400 --> 00:03:50.361
And if it does not, can I afford the downside?
50
00:03:51.642 --> 00:03:56.785
You see, your podcast does not need to be a billion-dollar company.
51
00:03:57.826 --> 00:03:59.227
It can become an authority engine.
52
00:03:59.747 --> 00:04:01.608
It could be a relationship builder.
53
00:04:02.069 --> 00:04:05.551
It could be a trust asset, a body of work that opens doors.
54
00:04:05.611 --> 00:04:11.635
But be honest about the game you're playing from the get-go, preferably before you ever record your first episode.
55
00:04:12.515 --> 00:04:22.422
If you're investing 10 hours a week and your show cannot realistically serve an important business or creative goal, change the investment or change the goal.
56
00:04:23.419 --> 00:04:24.620
It's not me being cynical.
57
00:04:25.100 --> 00:04:26.542
I want you to have a podcast.
58
00:04:26.722 --> 00:04:30.224
I also want you to be successful.
59
00:04:31.125 --> 00:04:31.526
All right?
60
00:04:32.546 --> 00:04:37.150
So don't call your podcast a hobby or a unicorn.
61
00:04:37.450 --> 00:04:39.372
You don't call a hobby a unicorn.
62
00:04:39.712 --> 00:04:44.216
And you do not dismiss a meaningful hobby because it doesn't look like a unicorn.
63
00:04:44.316 --> 00:04:46.418
So know which one you have.
64
00:04:47.638 --> 00:04:50.060
The third test is the identity test.
65
00:04:50.841 --> 00:04:51.422
Ask yourself...
66
00:04:52.397 --> 00:04:54.038
Who am I becoming through this work?
67
00:04:54.878 --> 00:05:00.580
A project can be worth continuing even before the outside results arrive if it is making you better.
68
00:05:01.300 --> 00:05:03.521
Are you a more skilled interviewer?
69
00:05:03.661 --> 00:05:05.561
Are you a sharper communicator?
70
00:05:06.042 --> 00:05:08.603
Are you getting more comfortable on camera?
71
00:05:08.883 --> 00:05:10.663
Are you more connected to your industry?
72
00:05:10.723 --> 00:05:12.424
Are you famous in your industry?
73
00:05:12.684 --> 00:05:15.525
Are you more capable of finishing what you start?
74
00:05:16.065 --> 00:05:19.888
And these are all things that you don't necessarily see when you open up your bank statements.
75
00:05:19.988 --> 00:05:31.955
But if the process is turning you into someone who constantly posts quotes about patients because there is no actual progress to share, then, well, you've got a problem.
76
00:05:33.596 --> 00:05:35.297
And maybe you need to stop.
77
00:05:36.578 --> 00:05:37.639
Maybe you need to pivot.
78
00:05:38.619 --> 00:05:40.821
Maybe you need help.
79
00:05:41.705 --> 00:05:44.006
And none of those outcomes make you a quitter, no.
80
00:05:45.107 --> 00:05:47.488
They make you an adult with a dashboard.
81
00:05:48.088 --> 00:05:50.750
Now here's your action plan because we all need a plan, right?
82
00:05:51.370 --> 00:05:53.831
Do this before you leave this episode.
83
00:05:53.912 --> 00:05:55.472
Set a time horizon.
84
00:05:55.793 --> 00:06:00.335
12 months is a good starting point for any serious podcast experiment.
85
00:06:01.696 --> 00:06:03.497
Choose three signals you're going to watch.
86
00:06:04.551 --> 00:06:09.834
the one craft signal, an audience signal, one business relationship signal.
87
00:06:10.294 --> 00:06:13.596
Schedule monthly feedback with people who are going to tell you the truth.
88
00:06:13.636 --> 00:06:19.319
That means not your parents, not your spouse, not your boyfriend, your girlfriend, not anybody in your immediate family.
89
00:06:19.399 --> 00:06:21.940
Somebody with actual skin in the game.
90
00:06:22.641 --> 00:06:24.642
Somebody who's actually going to keep it real with you.
91
00:06:25.262 --> 00:06:27.864
Then what you want to do is at the end of the time horizon, decide.
92
00:06:28.664 --> 00:06:35.967
Do you double down, change the format, change the positioning, or, well, that was a fun podcast era.
93
00:06:36.568 --> 00:06:37.228
I'm out though.
94
00:06:38.829 --> 00:06:41.330
And that is patience with a plan.
95
00:06:42.190 --> 00:06:47.753
That's how you let time work for you instead of letting time disappear on you.
96
00:06:48.733 --> 00:06:52.815
Now remember, the goal is not to quit fast and it's not to suffer long.
97
00:06:52.875 --> 00:06:53.656
It's the goal of,
98
00:06:54.592 --> 00:07:00.518
It should always be to learn fast enough that staying becomes a smart decision.
99
00:07:02.040 --> 00:07:12.030
Share this episode with a founder, with a creator, with a podcast host in your life who needs permission to keep going but also needs permission to stop lying to themselves.
100
00:07:12.751 --> 00:07:15.574
Thanks so much for listening to this episode of Your Mic.
1
00:00:00.171 --> 00:00:05.079
James Dyson made 5,127 prototypes before he got his vacuum right.
2
00:00:05.860 --> 00:00:15.154
And that sounds inspiring until you realize people hear that story and use it as permission to make the same bad podcast episode for five years.
3
00:00:15.875 --> 00:00:17.216
Here's the value right up front.
4
00:00:17.856 --> 00:00:24.081
You just need three tests to know whether your work is compounding or whether you are just repeating yourself.
5
00:00:25.042 --> 00:00:30.005
They are the signal test, the asymmetry test, and the identity test.
6
00:00:30.626 --> 00:00:39.012
By the end of this episode, you will know exactly how to use those tests before you give another year of your life to a project that might need a pivot.
7
00:00:39.032 --> 00:00:39.092
So.
8
00:00:42.083 --> 00:00:43.224
Welcome back to your mic.
9
00:00:43.444 --> 00:00:52.773
My name is Freddy Cruz, founder of Speak Podcasting and the Speak Originals Network, home to shows like The House of Theft and Made in House Houston.
10
00:00:53.433 --> 00:00:58.178
Learn more about these podcasts at speakpodcasting.com slash speakoriginals.
11
00:00:59.373 --> 00:01:12.091
Now, today we're going to talk about the art of patience, persistence, billionaire origin stories, and the difference between staying in a worthwhile game and hiding behind the long game.
12
00:01:12.511 --> 00:01:14.214
Because changing course is scary.
13
00:01:15.535 --> 00:01:15.856
First,
14
00:01:16.849 --> 00:01:19.351
We're going to talk about the myth you need to drop.
15
00:01:19.892 --> 00:01:21.133
Her name is Sarah Blakely.
16
00:01:21.774 --> 00:01:24.496
She faced rejection while trying to get Spanx produced.
17
00:01:24.976 --> 00:01:28.119
Amazon absorbed years of criticism and losses.
18
00:01:28.860 --> 00:01:31.683
James Dyson, you remember that number of prototypes?
19
00:01:31.903 --> 00:01:33.004
Yeah, 5,127 in case you forgot.
20
00:01:33.024 --> 00:01:34.885
He made that many prototypes before his bagless vacuum succeeded.
21
00:01:35.846 --> 00:01:39.570
He made that many prototypes before his bagless vacuum succeeded.
22
00:01:40.867 --> 00:01:44.790
All are true enough, but the takeaway is not never quit.
23
00:01:44.991 --> 00:01:52.237
The takeaway is not if I just suffer longer than other people, success will eventually award me a trophy and a yacht.
24
00:01:53.258 --> 00:01:53.478
No.
25
00:01:54.777 --> 00:01:59.318
Those stories only become useful when you look at what happened inside the time.
26
00:02:00.218 --> 00:02:06.160
Testing, iteration, feedback, new info, a changing strategy.
27
00:02:06.620 --> 00:02:15.262
Dyson was not manufacturing the same failed prototype over and over and over and over and over again while whispering affirmations into the mirror.
28
00:02:16.823 --> 00:02:17.463
He was learning.
29
00:02:18.665 --> 00:02:23.467
That is the difference between persistence and self-delusion.
30
00:02:24.047 --> 00:02:24.908
Test number one.
31
00:02:25.568 --> 00:02:26.989
We talked about those three tests.
32
00:02:27.489 --> 00:02:28.289
Here's the first one.
33
00:02:28.669 --> 00:02:29.750
The signal test.
34
00:02:30.570 --> 00:02:36.213
Ask yourself, as the podcast host, am I getting evidence that I am moving closer to my goal?
35
00:02:37.487 --> 00:02:48.314
Not necessarily viral evidence or a first episode that reaches a thousand downloads or a 95% retention rate on Apple Podcasts.
36
00:02:48.935 --> 00:02:54.839
Not necessarily revenue, but what are your titles improving?
37
00:02:55.679 --> 00:02:58.061
Are better people replying to your outreach?
38
00:02:58.081 --> 00:03:00.843
Are you getting more specific feedback?
39
00:03:00.863 --> 00:03:00.963
Yeah.
40
00:03:01.652 --> 00:03:08.076
Are clients referencing actual episodes in conversations that you don't know about until after the fact?
41
00:03:09.037 --> 00:03:10.197
Are you getting better no's?
42
00:03:10.597 --> 00:03:14.500
No's from people or rooms you could not really get into a year ago.
43
00:03:15.340 --> 00:03:20.684
The signal test, it doesn't require instant success, but what it does require is movement.
44
00:03:21.344 --> 00:03:27.168
If literally nothing is changing, don't, do not, ever call that patience.
45
00:03:28.410 --> 00:03:30.131
Call it a diagnostic moment.
46
00:03:30.571 --> 00:03:38.515
You might just need a better format, sharper positioning, more distribution, different guests, or a completely different offer.
47
00:03:39.196 --> 00:03:41.977
Here's the second test, the asymmetry test.
48
00:03:42.878 --> 00:03:47.180
Ask yourself, if this works, is the upside worth the investment?
49
00:03:47.400 --> 00:03:50.361
And if it does not, can I afford the downside?
50
00:03:51.642 --> 00:03:56.785
You see, your podcast does not need to be a billion-dollar company.
51
00:03:57.826 --> 00:03:59.227
It can become an authority engine.
52
00:03:59.747 --> 00:04:01.608
It could be a relationship builder.
53
00:04:02.069 --> 00:04:05.551
It could be a trust asset, a body of work that opens doors.
54
00:04:05.611 --> 00:04:11.635
But be honest about the game you're playing from the get-go, preferably before you ever record your first episode.
55
00:04:12.515 --> 00:04:22.422
If you're investing 10 hours a week and your show cannot realistically serve an important business or creative goal, change the investment or change the goal.
56
00:04:23.419 --> 00:04:24.620
It's not me being cynical.
57
00:04:25.100 --> 00:04:26.542
I want you to have a podcast.
58
00:04:26.722 --> 00:04:30.224
I also want you to be successful.
59
00:04:31.125 --> 00:04:31.526
All right?
60
00:04:32.546 --> 00:04:37.150
So don't call your podcast a hobby or a unicorn.
61
00:04:37.450 --> 00:04:39.372
You don't call a hobby a unicorn.
62
00:04:39.712 --> 00:04:44.216
And you do not dismiss a meaningful hobby because it doesn't look like a unicorn.
63
00:04:44.316 --> 00:04:46.418
So know which one you have.
64
00:04:47.638 --> 00:04:50.060
The third test is the identity test.
65
00:04:50.841 --> 00:04:51.422
Ask yourself...
66
00:04:52.397 --> 00:04:54.038
Who am I becoming through this work?
67
00:04:54.878 --> 00:05:00.580
A project can be worth continuing even before the outside results arrive if it is making you better.
68
00:05:01.300 --> 00:05:03.521
Are you a more skilled interviewer?
69
00:05:03.661 --> 00:05:05.561
Are you a sharper communicator?
70
00:05:06.042 --> 00:05:08.603
Are you getting more comfortable on camera?
71
00:05:08.883 --> 00:05:10.663
Are you more connected to your industry?
72
00:05:10.723 --> 00:05:12.424
Are you famous in your industry?
73
00:05:12.684 --> 00:05:15.525
Are you more capable of finishing what you start?
74
00:05:16.065 --> 00:05:19.888
And these are all things that you don't necessarily see when you open up your bank statements.
75
00:05:19.988 --> 00:05:31.955
But if the process is turning you into someone who constantly posts quotes about patients because there is no actual progress to share, then, well, you've got a problem.
76
00:05:33.596 --> 00:05:35.297
And maybe you need to stop.
77
00:05:36.578 --> 00:05:37.639
Maybe you need to pivot.
78
00:05:38.619 --> 00:05:40.821
Maybe you need help.
79
00:05:41.705 --> 00:05:44.006
And none of those outcomes make you a quitter, no.
80
00:05:45.107 --> 00:05:47.488
They make you an adult with a dashboard.
81
00:05:48.088 --> 00:05:50.750
Now here's your action plan because we all need a plan, right?
82
00:05:51.370 --> 00:05:53.831
Do this before you leave this episode.
83
00:05:53.912 --> 00:05:55.472
Set a time horizon.
84
00:05:55.793 --> 00:06:00.335
12 months is a good starting point for any serious podcast experiment.
85
00:06:01.696 --> 00:06:03.497
Choose three signals you're going to watch.
86
00:06:04.551 --> 00:06:09.834
the one craft signal, an audience signal, one business relationship signal.
87
00:06:10.294 --> 00:06:13.596
Schedule monthly feedback with people who are going to tell you the truth.
88
00:06:13.636 --> 00:06:19.319
That means not your parents, not your spouse, not your boyfriend, your girlfriend, not anybody in your immediate family.
89
00:06:19.399 --> 00:06:21.940
Somebody with actual skin in the game.
90
00:06:22.641 --> 00:06:24.642
Somebody who's actually going to keep it real with you.
91
00:06:25.262 --> 00:06:27.864
Then what you want to do is at the end of the time horizon, decide.
92
00:06:28.664 --> 00:06:35.967
Do you double down, change the format, change the positioning, or, well, that was a fun podcast era.
93
00:06:36.568 --> 00:06:37.228
I'm out though.
94
00:06:38.829 --> 00:06:41.330
And that is patience with a plan.
95
00:06:42.190 --> 00:06:47.753
That's how you let time work for you instead of letting time disappear on you.
96
00:06:48.733 --> 00:06:52.815
Now remember, the goal is not to quit fast and it's not to suffer long.
97
00:06:52.875 --> 00:06:53.656
It's the goal of,
98
00:06:54.592 --> 00:07:00.518
It should always be to learn fast enough that staying becomes a smart decision.
99
00:07:02.040 --> 00:07:12.030
Share this episode with a founder, with a creator, with a podcast host in your life who needs permission to keep going but also needs permission to stop lying to themselves.
100
00:07:12.751 --> 00:07:15.574
Thanks so much for listening to this episode of Your Mic.
