Start Before You're Ready: The Young Entrepreneur's Guide to Extraordinary Success in Work and Life
By Mick Spencer
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About this ebook
Unleash your entrepreneurial spirit with a counterintuitive approach to starting your own venture or taking your career to the next level
Start Before You’re Ready offers entrepreneurs an inspiring new roadmap to success — one that runs against nearly everything you’ve ever been taught about business. Author Mick Spencer is living proof that success doesn’t always rest down the traditional path of formal education and deep pockets. At the age of 22, with nothing to his name, he founded ONTHEGO Custom Apparel (www.otgcustom.com), a customised apparel and uniform company. Since then he has built a worldwide network of movers and shakers and raised millions in venture capital. His company is now a multi-million-dollar player on the international stage, disrupting the slow-moving industry with a modern blend of technological disruptions and social responsibility. In this book, he presents a solid case that analysis paralysis and endless ‘preparation’ won’t get you anywhere — you have to take that leap and do what you really want to do. Indeed, start before you’re ready.
Spencer challenges you to get outside your comfort zone and, although intimidating, his approach forces you to learn ‘on the go’ and focus on what you can do rather than what you can’t. Engrossing personal anecdotes coach you through the frustrations and challenges, while vital tools and clear strategies give you a concrete plan for making every day count, many of which have been taught to Mick by billionaires, global CEO’s and highly sought after founders.
- Chart your own path to success — even without a university degree or financial assets
- Focus on what you can do right now to achieve your goals
- Master self-reliance, overcome adversity and discover your true purpose
- Learn positive habits and build confidence to overcome challenges
Starting your own venture or pushing the boundaries in your career is always a leap of faith. It’s saying ‘yes’ before figuring out how to deliver. It’s moments of self-doubt followed by fiery adventurousness and courageous optimism. You are at once inspired, vulnerable, motivated and proud — and you are capable of extraordinary things. Start Before You’re Ready equips you with the inspiration and practical advice you need to succeed in today’s entrepreneurial environment.
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Start Before You're Ready - Mick Spencer
During the ten years I worked for Richard Branson I was fortunate to work with some of the best entrepreneurs in the world. The one characteristic that sums them up is tenacity. To say yes when others say no. To zig when others zag. Mick and his book are founded on this principle and I recommend it to anyone looking for a story to inspire and most importantly to succeed.
— David Baxby, Managing Director, Wesfarmers Industrials & Safety, Former CEO Virgin
When looking for success you need the drive and tenacity to overcome all the obstacles that come into your life and your business, and Mick has these in spades. Watch this space …
— Janine Allis, founder, Boost Juice
Life is short. In Start Before You’re Ready, Mick tells us how to make the most of it.
— Patrick Schmidt, CEO The Iconic, Co-CEO Global Fashion Group
Start Before You’re Ready is a book that is full of practical wisdom and a good dose of motivation to get you going on your next adventure, challenge or goal. Mick’s story of turning from a boy with many challenges to a man with many successes is both enjoyable and engaging.
— Stuart Cook, former CEO, Zambrero Restaurants
Most entrepreneurial journeys are full of twists and turns —but when you keep a clear focus on why and where you intend to be then they become distant memories fast. How good of Mick to share his journey so we can learn from his twists and turns.
— Naomi Simson, founder, Red Balloon, co-founder, Big Red Group, Shark on Shark Tank
Mick takes us on his own journey and shares great insights on how he personally overcame challenges to create, innovate and make his business viable. The result is an authentic road map to gaining greater self-confidence and some great reminders on how to handle set backs!
— Andrew Banks, founder, Morgan & Banks and Talent2 International, Shark on Shark Tank
Mick has a never-give-up attitude and in my opinion, loves to solve problems that others may struggle with. He was born to be an entrepreneur and it was this creative attitude that helped us sell 4 seasons of DundasFit in David Jones. Working alongside Mick taught me that any problem or situation I get into in business can be solved one step at a time. Mick has a natural ability to stay calm and composed and not let big decisions cloud his judgment and he is always sharp no matter the time of day or the pressure of a decision. Mick won’t stop, so listen to his advice and hold on!
— Jason Dundas, Australian TV host and entrepreneur
Mick wears his heart on his sleeve, and his passion and commitment shine through, in his new book on how he has overcome significant challenges, both personal and business related. In Start Before Your’e Ready, Mick summarises his lessons learned in an easy-to-read manner that will be certain to add value to any inspiring entrepreneur."
— Clifford Rosenberg, Managing Director S.E. Asia & Australia NZ, LinkedIn (2011-2017)
When Mick Spencer started out in business he started an entirely new business model for apparel. Why? He just didn’t know the old model. Normally, clothing has a 6-12 month cycle. Design a lot of clothing you think your customer wants, go out and make it in advance using lots of your own money and then put it in multiple stores and try to sell it to them and hope someone buys it. Repeat. It’s been done like that for about a hundred years. When Mick Spencer started he didn’t know this model. He was too young! So he just started his own model that made a lot more sense. Let the customer, whether a big corporate client or a small sports club, use technology to upload and customise exactly what they want, use the same digital technology to print the fabrics and make it within weeks or even days, and deliver it overnight wherever they are — and the client has paid for it in advance. Brilliant! This book shows how the old business models can and should be challenged, especially if you have the drive to succeed like Mick Spencer.
— Derek O’Neill, CEO, Billabong (2003-2011)
There’s no doubt any business, large or small, can benefit from Mick’s ‘start before you’re ready’ approach. I know ours has, and I’m looking forward to our continued partnership and entrepreneurial approach together.
— Doug Swan, CEO, Workwear Group (Wesfarmers)
What a great read! Mick’s engaging story is full of actions, steps and tips for life and business success as we read about his experiences in pursuing his goals, getting out of his comfort zone and ‘making the most of life.’
— Glen Richards, founder and CEO, Greencross, Shark, Shark Tank
Micky Spencer is the definition of a dream-achiever. For anyone, diving into the deep end is a risk but this man is proof that when you persevere and work hard, you get there. I’m sure in his eyes he’s only just getting started.
— Adam Hyde & Rueban Styles, Peking Duk — 13x ARIA Platinum Recording Artists
Mick’s personal account of his journey to date demonstrates the passion, imagination and drive that can encourage young entrepreneurs to think about their future world in a different way.
— Kate Driver, Deputy Director and General Manager, Questacon, Australia’s National science and technology centre
Each year, you meet people that stand out from others. Then you meet people who stand out from those that stand out. Mick is one of those people. His energy, enthusiasm and positivity is hard to contain. Having him put some of that energy, enthusiasm and positivity into his book makes for a fascinating — and thought provoking — read.
— Fraser Henderson, co-founder, Propel Funeral Partners, founder, Millbank Advisory, former partner, Minter Ellison
Start Before You’re Ready is a well written motivational book full of stories and ideas for those who want to succeed in life.
— Graham (Skroo) Turner, founder and CEO, Flight Centre
START BEFORE YOU’RE READY
The Young Entrepreneur’s Guide to
Extraordinary Success in Work and Life
MICK SPENCER
Wiley LogoFirst published in 2019 by John Wiley & Sons Australia, Ltd
42 McDougall St, Milton Qld 4064
Office also in Melbourne
Typeset in 11/15 pt Sabon LT Std
© John Wiley & Sons Australia, Ltd 2019
The moral rights of the author have been asserted
All rights reserved. Except as permitted under the Australian Copyright Act 1968 (for example, a fair dealing for the purposes of study, research, criticism or review), no part of this book may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means without prior written permission. All inquiries should be made to the publisher at the address above.
Cover Design: Wiley
Cover image: © Fidan Farajullayeva/Shutterstock
Author Photo: Simon Schulster
Internal graphics: © AntiMartina/Getty Images
Disclaimer
The material in this publication is of the nature of general comment only, and does not represent professional advice. It is not intended to provide specific guidance for particular circumstances and it should not be relied on as the basis for any decision to take action or not take action on any matter which it covers. Readers should obtain professional advice where appropriate, before making any such decision. To the maximum extent permitted by law, the author and publisher disclaim all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based on the information in this publication.
CONTENTS
Cover
Title page
Copyright page
Foreword by Hap Klopp, founder of The North Face
Acknowledgements
Introduction
Part I: My story
Chapter 1: Conquering challenges from an early age
Life outside of my comfort zone
From one passion to another
My moment of truth
Moving on from school
Every day matters
Chapter 2: Making dreams come true
Ten T-shirts and 400 jerseys
Shark Tank: Why I passed it up
You only live once
Part II: Design your life for success
Chapter 3: Shaping your future
What legacy will you leave?
Find your purpose
Love what you do
Believe in yourself
Trust that the dots will connect
Chapter 4: The 4 Ps philosophy
Purpose
People
Planet
Profit
The perfect balance
Chapter 5: Making every moment count
Actively learn
Make your habits support your future
The birthday call
Sleep
Time competes with time
Daily break-even analysis
Coffee currency
Add a touch of healthy pressure
Chapter 6: Be bold about your personal vision
Self-promote
Be coachable
Believe passionately
Change it up
Learn to network
Back it up
Ignore the naysayers
The tall poppy syndrome
Self-promotion never ends
Promote, but be wise on social media
Social media do’s and don’ts
Chapter 7: Hard-hitting truths
The smarts you need (and they’re not what you think)
Fake it
Build your parachute
Hard conversations
You’re not in sales? Think again.
Learn to negotiate
Get a person from ‘no’ to ‘maybe’, and ‘maybe’ to ‘yes’
Believe the sale is true before it is
Rejection
Fear and self-doubt
The imposter syndrome
Give less fucks
Chapter 8: Give life your all
Get shit done
Get and stay connected
Chapter 9: The power of less
Sacrifice
Money money money
There’s nothing wrong with being a tight-arse
Friend currency
Debt: the good and the bad
Investing
Where are you now? Where do you want to be? How do you get there … and what do you need?
Chapter 10: Shoot for the stars, get mentored and make it happen
The road to the dream
Be transparent
Get mentored
Have someone to answer to
Chapter 11: Street smarts
Think fast on your feet
Understanding human nature
Be loyal
Be cool. Be calm. Be focused.
Put yourself first — it’s not a bad thing
Begging, borrowing and stealing
Chapter 12: What it takes
Digging deep
Go the extra mile
Other people’s rules
Get it done
A partner in crime
Here’s to your success
What’s next: Going global
Index
EULA
Guide
Cover
Table of Contents
Begin Reading
FOREWORD BY HAP KLOPP
FOUNDER OF THE NORTH FACE
Throughout my life as an entrepreneur, adventurer, father, friend, leader, and philanthropist, I have repeatedly started my endeavours before I was ready. I have adventured into the unknown, taking The North Face from a dream of getting people further into the forests to what is globally known as the most popular adventure brand, grossing well over $2.5B USD per annum. I’ve adventured into the unknown, I’ve employed many thousands of staff and many went on to run major outdoor companies of their own. And I had the good fortune to share all these adventures with two amazing children, three grandchildren and a loving, supportive wife.
I had a real purpose in my career — to create a ‘triple bottom line business.’ One committed equally to the goals of profits, environment and society. Central to my vision was to preserve and protect the wilderness that surrounds us. I knew that if people went deep into the wilderness, they’d see the world in a really truly amazing way and understand the need for wilderness. As Eliot Porter once wrote, ‘In Wilderness is the preservation of Earth.’ I fervently believe that being a purpose-based business was the essential ingredient that allowed us to take The North Face from an idea for technical outdoor products to becoming a global fashion statement.
Through all my myriad of experiences, I learned there is no textbook for life. There is no one formula for success. You’ll often find yourself in situations where you need to let intuition and gut feelings guide your direction. And, that’s OK. Whether in the unknown mountain ranges of Patagonia, or the board room of New York, we as people grow when we’re out of our comfort zone. And I believe that is where all the truly, valuable and disruptive ideas come from.
I met Mick a few years back. He reached out to me and I couldn’t help but be drawn to his energy in creating something that I had always been passionate about — building something truly great. Because his vision encompassed using technology to disrupt the apparel industry which I knew so well it was especially intriguing. By the time we talked through his outline for offering customers a fantastic design delivery service, something that no big brand had yet been able to master, I was hooked.
I remember our first chat on Skype from his tiny attic office. I was energized by the OTG concept and its all-encompassing purpose, mission and execution. I did ask myself, how could a 21-year-old kid with no apparel background and only $150 figure out this concept? But his enthusiasm, his attention to detail and his lack of fear convinced be that he might just be one of those magical people who really could dent the universe, so I offered to contribute if he needed me. Over the years, I’ve mentored Mick, helped guide some grand, and difficult, decisions, and seen his journey. What a great pleasure it’s been to see that growth in him as a person, and in OTG, which will be a major global brand that we’ll all know and enjoy in the not too distant future.
When organisations get large, they slow. They stop innovating. They get too comfortable and they lose their nimbleness. They become risk averse and atrophy. They are afraid of failure but learn that the biggest failure of all is doing nothing. Start Before You’re Ready is the ultimate ethos for life, and a reminder to kick ourselves in the backside and get going — because one can’t wait until things are perfect; they rarely ever are. With the accelerating pace of society there is no longer time for perfect information. Mick’s ethos, outlined in this book, provides the courage to take risks and gives a road map to help us as we throw ourselves into situations head first and learn on the go.
Despite incredible adversity, Mick has prospered. He’s built a highly scaleable company, a stellar team, and an incredible consumer product. He didn’t graduate with multiple degrees. He was not an expert in his field. Nor did he have the capital that most businesses do. Mick and his team have succeeded against all odds. They’ve started before they were ready, connecting vision and purpose. As you will read, Mick learned and learned well — by doing. The real way to live life.
With Mick’s debut book, you will understand how to start right now, no matter what the odds. He shows how to get your mind and purpose aligned. How to paint the picture on where you want to be and how to get there. As Mick and I both believe: we can all be much more than we are today. Life is about adventuring beyond the unknown, and starting before you’re truly ready.
Hap Klopp
Founder and 20-Year CEO, THE NORTH FACE
Author of Almost — 12 electric years chasing a Silicon Valley dream
Hult University Lecturer on Entrepreneurship and Innovation
ACKNOWLEDGEMENTS
My partner Alicia — You are my waking inspiration every single day of our lives. You’re my constant inspiration and I cannot wait for our future. The times we’ve shared are just the start of the journey ahead.
My father Greg, for telling me to never let fear stand in the way of anything and to give life my best shot.
My mother Cathy, for supporting every single step and motion of my life to date.
My brother Nathan, who has inspired me daily to give life my all, no matter what the circumstance. You’ve guided the light for me on too many occasions.
My sister Alicia, who has inspired me, showed me what is possible and reminds me why family is so important.
My mentors over the years — Chris, Hap, Chris & Bob, Derek, Paul, Baxby, Rainbow, Patrick and all those in between — you have been my real-life university and I wouldn’t be here without your help in understanding the journey and what it all means.
My staff and suppliers, past and present; you know who you are. Thank you. For backing me, for every day guiding my vision of a different breed of business, and for putting up with my antics, obsession and curiosity.
Finally, I’d like to thank the naysayers, the teachers and the bullies for their constant reinforcement that I was not worthy of success because I was so different! You have been my underlying motivation to succeed.
INTRODUCTION
In November 2015 I was selected to pitch on Shark Tank Australia, a TV show millions of Australians watch. On the show, business owners pitch to five multimillionaires (the ‘sharks’), hoping to impress them enough that they will invest their own money into the person’s business.
Janine Allis (founder of the $400 million company Boost Juice) was mentoring me at the time, and recommended I apply. When they called to say