Alastair Macdonald (Parallax Strategic Advisors) talks about the danger of only preparing for half of the business cycle. He shares his personal experience with bear markets, and how business owners can become full-cycle entrepreneurs.
GO LIVE is an interview show hosted by Joshua Scott. Episodes are hosted live every week on Facebook and include some of the dental profession’s top influencers and thought leaders.
“I was living paycheck to paycheck as an expert, as somebody who knew the investment world - this was deeply shameful for me.”
Alastair goes into his personal story of working in finance and how it created an effect on his family and personal life that started him down a path of change rather than resentment.
“I will never forget, it was a Thursday morning, I stood there and I looked at my wife and my daughter and I said to myself - this will never happen again.”
The position he found himself in acted as a catalyst to educate himself on not only the economic climate as it stood, but on the last 350 years of economic history that’s been documented. He had listened to experts, advisors, agents, economists and forecasters and realized that all the advice was built for just half of the business cycle. And there was the problem.
Alastair took it upon himself to break the pattern and start a new one.
It’s a certain type of person who looks at being a full-cycle entrepreneur, someone taking into account all of it - the ups and downs. They are in it for the long game.
“I care more about impact than reach.”
Discovering he was working with two different types of people, Alastair began to notice the differences - the main one being between those who inherit their wealth and those who create it.
There are people who receive and people who create. We are able to create and cultivate a life we want rather than waiting around for it to be handed to us. Those people were the ones who showed intellectual courage as opposed to fear.
“They understand there’s no good news and bad news - there’s just news you were prepared for and news you weren’t prepared for.”
There comes a time when you realize you’ve been living in a vicious mill of competitiveness - comparing your new patients to theirs, comparing your dollars to theirs, comparing your retention rate to theirs and one day you’ll realize it doesn’t matter. Your goals are not their goals.
It’s time to discard the competitive fear of missing out and trust your own story.
“Solve the emotional concern with a logical solution.”
Josh asks where Alastair gets his confidence in speaking and acting as a mentor for business leaders growing in the ranks and he explains that there was a period in his own life where he didn’t feel qualified and wondered “who am I to ______?"
Fill in the blank. Where is the doubt creeping in for you?
“I’ve been that person who needed help. It allows me to show up how I show up best, leading with love.”
Let’s take notes from Alastair’s life and be intellectually courageous, intentionally generous, and let’s lead with love.
