Don't Go It Alone! Break Through Burnout and Find a Mentor with Scott Anderson

damottaleonardweb
Apr 7, 2022
3 min read

Between his experience with marketing agencies, equipment providers, and regularly training entrepreneurs, Scott Anderson presents his distinctive perspective on this episode of The Prosperity Perspective Podcast. Scott will share his conviction about the real danger of burnout for entrepreneurs, a topic so important that preparing them against it is the subject of his career. Learn alongside host Liam Leonard why attempting to compartmentalize areas of life like family, work, and spirituality is where problems arise. Gain insight into Scott's advice for any entrepreneur starting out, beginning with the necessary implementation of a mentor and distinguishing the roles between consultants, coaches, and advisors.

3 Key Takeaways:

The first and second-best returns Scott received from his investments
Let compounding do its work for you
The single most dangerous thing that can happen to an entrepreneur

Listen to the Full Episode:

Show Notes:

[0:00] Liam introduces the guest and the topic of today's conversation

Scott shares about himself and what he does as a serial entrepreneur
- Scott began to start and run companies when he was a little kid, and now he's on number nine
- He coaches entrepreneurs on how to treat and reduce future burnout

[1:15] There was a lot of success and learning along the way

One of the most-remembered failures was a car detailing model in the Midwest
- "Overall, I've been very fortunate, and mainly because I've had great teams." -Scott Anderson

[2:55] Scott shares where he decided to allocate his additional income

The best investments were those that had the greatest ROI
The second best return has been investing in coaches
"Investing in the things I'm actually working on and that I can control has been the best choice." -Scott Anderson

[5:30] How did Scott set and acknowledge when that point came that returns were marginal?

There are a lot of investments competing for entrepreneurs' attention!
Where Scott and a lot of his clients have invested

[7:45] How did Scott evaluate the marginal returns to determine where he should look?

It depends on when you begin to experience marginal returns and is largely dependent upon your family status

[10:15] Looking back, where would he do things differently?

"I really think the single smartest thing that any young entrepreneur can do is to live within your means and save money as soon as you can." -Scott Anderson
The impulse of people who just begin to make money is to spend it on things that don't have long-term value
"Let cost-based averaging do its work for you. Let compounding do its work for you." -Scott Anderson
A part of Scott's life that he regrets is moving into a "Keeping Up with the Joneses" mentality in his 30s

[14:25] How does Scott balance the building pressures that entrepreneurs have in order to avoid burnout?

"The most valuable investments I made have been in engaging coaches that saved me from making horrendous mistakes." -Scott Anderson
"Burnout can be really dangerous. Fortunately, it's really preventable and recoverable, but it's the single most dangerous thing that can happen to an entrepreneur." -Scott Anderson
- Use EO or YPO Mastermind groups to combat burnout and the imposter syndrome

[18:37] Stephen invested in a coach that could understand him, 360 degrees

Compartmentalizing your work, home, and spiritual life can lead to a lot of problems

[20:11] What is the ideal structure between using consultants, coaches, and advisors?

"Everyone is different, but for type A entrepreneurs, having multiple sounding boards can be confusing and they can seek out the answer they want." -Scott Anderson
Be candid; be an open book with your advisors
"It's really important to start with an objective, even if that goal is to clearly define what the goal will really be." -Scott Anderson

[23:22] Check out how you can connect with Scott!

Join their training program for avoiding burnout

About Scott Anderson:

Scott’s entry into business started when he was tasked with turning around a third-generation family group of construction equipment and industrial engine companies, which he was able to scale and sell at a premium.

Following this, Scott built three for-profit businesses, including an agency that he ran for over 25 years and later sold to his employees.

Scott also combined his business acumen with his experience as a licensed mental health therapist to establish the not-for-profit, AtEaseUSA.org, which develops and deploys leading-edge PTSD treatment technology in partnership with Tel Aviv University and the Israeli government.

Scott’s experience in business is matched by his premier training in coaching and therapy. He trained at the preeminent Coaches Training Institute and is certified by the International Coaching Federation (IFC). He also graduated summa cum laude with a Master’s degree from the University of Nebraska School of Clinical Counseling.

He has been featured in both Forbes and Entrepreneur Magazines and has helped hundreds of entrepreneurs and high-performance executives break through painful plateaus and achieve even higher levels of success and fulfillment at work and at home.