CFD 437 – Breaking Through The Barriers That Are Holding You Back

January 4th, 2018

Mitch Russo’s experience dates back to 1978 when he started working as an Electrical Engineer at Digital Equipment Corp in Maynard, MA. He migrated to application engineering for Mostek (a semiconductor company) and then to selling chips to large and small companies alike.   

In 1985, Mitch entered the software business as the founder of Timeslips Corp (sold to Sage Plc) after creating the largest network of Certified Consultants in the software industry, helping Intuit Corp create their own Certified Quickbooks Accountant Network as well.

After selling his company, he then ran Sage Plc in the US as the COO, with over 300 staff. Moving back to Boston, Mitch then found himself involved in the VC community, first as an advisor to startups and then as the CEO of the largest furniture shopping site early in 2000; FurnitureFan.com.

Podcast Highlights

  • Who is Mitch Russo?

It was at the age of 16 that Mitch discovered that his band was absolutely terrible. He convinced his bandmates that if they were going to keep making music, they had to be disciplined and focus on improving their craft or they should just stop. This is when he learned his first rule: don’t deliver a sub-standard product. The second rule of focusing on your strength came a bit later.

Mitch’s passion for his clients and for making people happy are the major differentiating factors between Mitch and his bandmates. He, later on, put down the guitar and entered the business world where he discovered his love for electronics but found out he didn’t want to work as an electronic engineer.

Mitch went on to begin investing in real estate, starting a software company, pivoting when he ran into major obstacles and finding the determination not to give up. He now helps entrepreneurs in breaking through their personal barriers.

  • What does life look like for you today?

Today, Mitch works with existing leaders that need someone to take them to the next level. He takes already successful people and helps them take it up a notch.

When you achieve success, you realize the only way you got there was with the help of other people. Mitch is focused on improving the world by improving other people.

  • What are the top three basic things that entrepreneurs skip?

Most people come up with a great idea and then start a business, which is a great way to waste a lot of time and money. Instead, you should look for a hole in the marketplace and do everything you can to fill that hole. Figure out what people need and become the source of it.

  • How should someone become an expert?

If your business isn’t something you are passionate about, don’t bother pursuing it. You have to be willing to dig deep and achieve a very high level.

If you pursue something to the point where you are able to help other people, that is how you will increase your ability at the same time. Teaching others is how you evolve and improve yourself.

  • Do you find more fulfillment helping others or in building something new?

Character comes from enduring and evolving through hard times. Smart people learn from their mistakes, even smarter people learn from other people’s mistakes.

  • What are some of the most powerful strategies have you learned doing the podcast?

Being the interviewer gives you access to various people outside of your industry. There is so much to learn that can be applied to businesses outside of your niche that you can only learn from someone outside.

When you are running a six-figure business but can’t seem to get to seven figures, there is something that is holding you back. The goal is to get past what is stopping you. Once you break through, it’s very rare to have everything fall apart on you.

  • What are the top things that prevent entrepreneurs from breaking through?

There are a number of fears that could be holding you back including the imposter syndrome, fear of success and more. You have to get past your ego that is trying to prevent you from taking a risk.

Your fear doesn’t matter if you want to succeed you must push through.

Reference: The Invisible Organization, Mitch Russo

  • Mitch’s Takeaway

If it’s something that you can do on your own, get out of your own way and just do it. Odds are you can’t do it alone, in that case, find someone who has done exactly what you want to do and bribe, beg and convince them to show you what it takes. No matter how much you pay them, you are buying your future.

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