PP 16 | Entrepreneurship Mindset

 

Being an entrepreneur comes with big challenges. You are fully responsible of turning those challenges into opportunities to achieve your goals. Award-winning inventor and philanthropist Garyn Angel has faced more than his share of challenges and made it back up to create the best services in his business. In this episode, Garyn talks about the entrepreneurship mindset and how he managed to connect the positives and the negatives in the cannabis industry to create his product and help many people. He also reveals his strategies on pivoting and making a business grow.

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The Entrepreneurship Mindset: Connecting The Positives And The Negatives With Garyn Angel

I’m excited to have my next guest here. He is an award-winning inventor and philanthropist from Port Richey, Florida. His work with politicians has guided international cannabis law reform and his contributions to legal marijuana landed him a spot on the exclusive CNBC Next List of Global Business Visionaries. As CEO and Founder of MagicalButter.com, Garyn created the first self-contained herbal extraction device for at-home use. Magical Butter, a machine that takes cannabis from flower to high-quality infusion with consistency, allowing patients of medical cannabis a simple, safe and smoke-free alternative. His leadership extends beyond business. He founded the Magical Creative Center, an educational program for engineers and entrepreneurs in collaboration with the People’s Republic of China and writes for Entrepreneurs. Welcome, Garyn Angel. Thanks for being on the show with us. I really appreciate it.

I appreciate the opportunity. I like speaking to audiences and trying to spread thank you’s, appreciation, gratitude, happiness and love. That’s what life’s all about. Anytime we get an opportunity to share a microphone with a friend, it’s always a welcome opportunity.

You had some big stuff happen with your distribution rights with Walmart and Magical Butter, is that correct?

Yes, it’s been incredible. We have tremendous retailing partners. Walmart is our latest to sign on with us and we’re thankful for them. We love them. We think it’s going to be a great place for our customers to experience our brand. They’re committed to our messaging, helping people and serving the community. We’re excited to work with Walmart because they serve a lot of communities and we love serving. We don’t sell products, we serve people.

That’s quite a big accomplishment. I know you’ve had several accomplishments, but you also were the small guy a long time ago. I’ve got a lot of readers out there that I’ve talked to in the past and that I’m working with and the small entrepreneur. Did you ever see yourself as growing this big years ago? Did you have that in your mind years ago?

It gives me goosebumps because while I enjoy hearing those words, that’s not the life or the way that I wake up. I wake up as if every single day I’m a small entrepreneur and it’s day one, what are we going to do? If you’re not waking up and you’re not doing that, you’re going to lose your ability to be an entrepreneur. I appreciate the question, but I also think that there is no real inflection point in day one. If you’re a true entrepreneur it’s every day, when you wake up. You don’t lose that spirit because you’ll lose yourself if you do. I’ve seen too many people do it and that’s the only reason why I harp on that because I feel like everybody wants to be a big entrepreneur and everybody who I know that acts like a big entrepreneur isn’t happy. Stick to the basics and love the fact that it’s a daily grind. Wake up and put your face in it and get after it.

To be an entrepreneur is a unique skillset. You don't have to do anything good, but you have to be able to do everything okay. Click To Tweet

Staying grounded has got to be challenging. There are a lot of different things that challenge you I’m sure on a monthly, weekly basis where it’s like, “I got to keep my head into what my passion is about.”

The beauty of ground is its energy and if you’re positive it’s always easy to find a neutral and that’s ground. Let’s talk about energy. It doesn’t matter what you have. Are you willing to go camp out with your friends and sleep in a tent and enjoy sitting around the fire? Are you happy? I’m sitting at my desk and I’m riding a bicycle. It’s constant motion and keeping things inflow and that’s your positive, you’re creating energy. I’m sitting here and I’m pedaling as I’m talking to you, because I’m creating energy

The energy is lost in the wheel and it doesn’t have a lot of output, but I feel in life as an entrepreneur, as a person, as somebody who wants to give to the world, always put positives out there and put that energy in there and you’ll connect to neutrals. The bike is my neutral. I’m putting good energy into the world and it’s not an output, but it’s still creating something. If you have new readers and these are people who want to be entrepreneurs, it’s about pedaling a bike and not worrying about anything other than the neutrals, take the negatives out of your life. That was a long way to get to the point, but it’s important that they understand the motion.

Creating that emotion, that momentum, there’s a lot of people that when roadblocks come in, it throws them off their center and where they’re headed. To the new entrepreneur, that’s tough. They get hit in the face and they don’t know how to go.

It’s a choice, it’s not tough. You can’t look at it like that, we got to give people the real tools. When you get punched in the face, it’s a choice to say, “I enjoyed that,” or, “That hurt.” When you get punched in the face, if you’re going to be a winning entrepreneur and have the right mindset, you say, “I liked that.” Can you spit the blood out of your mouth? Being an entrepreneur is that Fight Club moment. There’s a lot of days you’re going to get punched in the face and if you can’t spit the blood out and say, “I liked it.” You’re not going to come back for more and you’re going to quit. You’re not going to make your goals and aspirations. You’re not going to connect the positives and neutrals and you’re going to probably connect the negatives. What I want to do is inspire people to spit the blood out and say, “Give me more, I’m learning. I’m stronger now, I’m not going to let that one get me next time. I know how to dodge and weave.” That’s life. That’s what we have to inspire people to do.

From my experience, it’s probably one of the hardest things to teach somebody is to keep getting open, taking the charge and heading forward. It’s making sense like, “I’m doing the right thing,” as you’re doing that.

PP 16 | Entrepreneurship Mindset

PP 16 | Entrepreneurship Mindset: A true entrepreneur sticks to the basics and love the fact that every day is a daily grind.

 

They need mentors. It’s not a natural instinct to get punched in the face, spit the blood out and get up and say, “Give me another.” That’s not the natural instinct. We avoid pain. I’ll tell you a concern of mine is the mental health of entrepreneurs plus ten years. I know you have a new show but the reason why I like doing things like this is because it’s a great spot to mark history. I’m telling you that plus ten years, there’s going to be a massive amount of mental health issues with entrepreneurs and the reason for it is, it is much of a fake it until you make it society.

That’s marketing, you’re going out there, you’re pumping that buzz out and you’re doing everything you have to do. If you’re not mature in your mindset, if you don’t have the experience, if you haven’t been punched in the face enough times and spit the blood out, at some point in time that wears on you. Fortunately, in my experience, I was a money manager. When you watch the market on a daily basis, you get punched in the face, let’s say two out of three days a week but that’s when you’re winning. You’ve got to win three out of five days in the market. It’s like a weatherman.

I had tremendous experience in wins and losses through the years and that gave me a lot of strength, experience, know-how and confidence. I do have a real concern that a lot of people take on entrepreneurship because it’s the hip and cool thing and maybe they’re not tuned in as much with the experience side and it’s going to hurt them when they fail. A lot of entrepreneurship is being able to have the right partners, that when you get punched in the face, bringing everybody together and saying, “Let’s have a strategy session and figure how we pivot.” That discussion isn’t happening enough, it’s only everybody sharing all their success stories. We did a big thing in the office about failing. If you’re not failing daily, I’m mad at you as your teammate if you’re not failing daily. That means you’re not trying to improve.

It’s hard because our society doesn’t teach that. It doesn’t show that when you talk about mentors and stuff, these are the people that you learn from as well as I do. When you get around them, all of them had been punched in the face several hundred times and it’s a matter of seeing that and taking that in and going, “This is a part of the process, I’m learning, I’m failing, but I’m failing forward as I move forward to the next step and to the next step.”

That’s the thing is that people look at failure as an ultimatum, failure is a step. Life is long, don’t worry about the trips along the way. Enjoy them. Silliness and this isn’t even relevant but it’s funny. It’s cold in Florida, you see them wearing a jacket. It’s not cold, I don’t know where you’re at but nobody thinks it’s cold. Any of your readers are wondering, “This guy’s crazy,” but we’re walking in. I was in a great meeting, amazing people, and I was willing to punch myself in the face walking in. Everybody else is in short sleeves, and they’re all making comments about me wearing a jacket and I had a scarf on until I walked to the front door, but I realized it was ridiculous.

That’s the key to being that successful entrepreneur. It’s not being able to take a punch in the face but at the opportune moments, punching yourself in the face. Now everyone’s laughing and now we’ve built a bridge and as much as it is to have a great idea and everything else, the only thing there is in life to being an entrepreneur is serving a community. If you are not able to serve a community, your business is going to be short-lived or you’re simply a commodity. That’s a boring business, that’s not something that you want to wake up and do every day, if you’re a commodity in life, it’s not inspiring to me.

Gratitude determines the level of output and love that people put into their work. Click To Tweet

I wanted to go back to the mentorship because I have a strong feeling for that as well and I get a lot of people who say, “Where do I find my mentors?” It’s a process too. I’m curious to know about how you’ve come across your mentors and how that process worked for you.

My last name is Angel, maybe I’m insanely blessed and lucky. I’m going to start with that because my mentors have been some of the most electric business people in the world, I’ve learned from amazing people, George Steinbrenner taught me a lot. My father, my stepfather, my uncle is a bestselling author, I’ve had incredible people in my life, my mom. Do you want to go to my best mentor? My best mentor is my children. I don’t have a better mentor, there is no better mentor in your life than your children because it’s an unbiased, ruthless, truthful answer like, “Dad, you’re going bald.” “You know what? Okay, maybe I am.”

It’s shameless things that kids are willing to say to you and it’s great because it allows you to develop your emotional intelligence on how to handle those situations but at the same token, they’re giving you so much emotional intelligence on truth. That’s what mentorship is, it’s the ability for you to evaluate and expand your own emotional intelligence for how you handle difficult situations, with absolute truths hitting you between the eyes. That’s when you have a good mentor and that’s why I say my kids are my best mentor.

How many kids do you have?

I have two and the cutest puppy you’ve ever seen. I would definitely not call my wife a kid, but she would probably call me one and I’m okay with that. I’ll own that. I’m not trying to grow up.

Stuff has been moving especially here in Colorado. There’s been a lot over the last few months. You have been spending a lot of time there for quite a while. I didn’t realize it until I started listening to some of your speeches and stuff. You definitely have a passion for it and it’s awesome. I’ve spoken to a few of the counselors out there, people that are helping people through this mental process of taking micro doses and stuff like that. How did you divert from the cannabis extraction side over to the psychedelics, what brought you towards that? Was your passion built in that realm?

PP 16 | Entrepreneurship Mindset

Entrepreneurship Mindset: If you’re not failing daily, that means you’re not trying to improve.

 

I don’t think there’s a difference between the two in a lot of aspects. These are plant-derived compounds. I’m a public health advocate at the core. They’re molecules. Let’s get simple and I think there’s a lot of plant-derived compounds that are beneficial molecules that could serve public health well and reduce the cost of health care. I’m into that. That’s a disruptive technology that needs to happen and that’s the root of my passion. If you look at Magical Butter, it was about being able to empower people to find their own wellness, happiness and center.

Psychedelics are interesting. There’s a lot that can be done for most minds. The interesting thing about psychedelics that’s much different than cannabis, cannabis is used daily by a lot of people and if it’s not daily, it’s three times a week or twice a week. Alcohol is used daily and if it’s not daily, it’s twice a week, it’s three times a week. Those are similar in construct. Mushrooms have been around as long as cannabis and as long as alcohol for a lot of the purposes of relaxation. The interesting thing is people don’t abuse mushrooms. It’s a self-regulating molecule. I’m not going to say people don’t abuse cannabis, they do. There’s a lot of people who abuse cannabis.

The guys that do all the dabbing and stuff like that.

I’m not saying it’s the dabbing. There’s a lot of people who enjoy the difference of some of these psychedelic compounds and cannabis is the easiest to handle in all workspaces so it’s used a lot more. Alcohol, you smell, your words are fumbly and your mind’s not all there. Cannabis doesn’t have that same effect. The difference is, mushrooms or psychedelics for that matter, let’s go MDMA, let’s go LSD, ketamine, wherever we want to look at, it’s flooding your body with serotonin like CBD does our body with anandamide.

These are molecules and indigenous compounds that make us feel good. This is pretty weird because I was with a tremendously wonderful, powerful human being and I did not expect this conversation to come up. He’s a friend and a follower online and wanted to dive into it. He’s attitude and response to it was much different than I expected. That’s what tells me that this conversation is imbalanced now and it’s imbalanced because opiates and OxyContin and Percocets and all of that is out balance.

Things are shifting, right?

Having one or two family members involved in your business as an entrepreneur is absolutely paramount and key. Click To Tweet

Yeah and the difference is those are addictive. If you do heroin, we all know that people who do heroin have a tendency to want to do more heroin. If you do mushrooms and you do too many mushrooms, you don’t want to see mushrooms again for a long time. I like that self-regulatory process and that’s why we’re going to see these compounds adopted like, with cannabis. It has almost no overdose profile. When you look at those types of characteristics, it seems like they shouldn’t be regulated like that.

Are you working on any new inventions with psychedelics? You can either share it or you don’t have to.

We live in the future and if you’re not living in the future, you’re probably going to be outdated real quick. We own the word magical around the world, it wouldn’t make sense for us not to have one eye on that prize. How fast is regulation going to occur? What are the opportunities? We can dive into some of that. Maybe some of your audience members want others to say on the opportunities in psychedelics, let’s cover that. The way I see it is, there are multiple ways to make money with psychedelics as this becomes a medicine or treatment option. You can grow the API, for the pharmaceutical ingredient. You could be the standard of care for some of these clinical trials. There’s a great business model around that.

Growing silicide specifically mushrooms at home is probably a lot more likely than growing cannabis at home. It’s got a shorter timeframe. It doesn’t require quite as advanced equipment. That’s an interesting area. The third area that I find pretty interesting in the investing in psychedelics aspect would be in the retreats. You’re starting to see retreats approved for either in ayahuasca-guided journey for PTSD or depression and some of those types of mental health issues. Retreats are a real business model.

Do you think in the next ten years we’ll probably see a lot of mental health issues that are happening with the entrepreneur that’s digging in right now or in the midst of it right now?

I hate to interrupt you on it but it’s real. I’m telling you, I have a lot of friends who are making journeys, selling their houses and doing things that probably might not be the best way. It’s a challenge. I want people to go be an entrepreneur. I don’t want them to go away. To be an entrepreneur is a unique skillset. You have to be able to be one of everything. You don’t have to do anything good but you have to be able to do everything okay. Companies are not efficient for a long time until they have the right people in every department and fortunately, we got over that hump. I also am not afraid to share that journey with you. There are a lot of times along the way. We’re a self-funded company. I didn’t go out there and get a bunch of venture capital. I put on my family to say, “This is what we’re doing and we’re going to fund this and make it work.”

PP 16 | Entrepreneurship Mindset

Entrepreneurship Mindset: Cannabis has almost no overdose profile. They shouldn’t be regulated with that kind of characteristic.

 

Funding challenges are a big part of it. You’ve probably been through several of these but at the end of the week, you’re like, “I have two weeks for the payroll. I got to figure out how to pay that and I’ve also got to do ten other things in front of that.” That’s a real problem that will crush us a lot of entrepreneurs unless they get used to making it happen.

It’s the gift and here is why it’s the gift because if you gave that same entrepreneur unlimited funding, they probably wouldn’t know what to do with it, they would get wasted and they would never achieve profitability. The real process is, you don’t get capital until you deserve it and I know that’s hard for people to understand, but a lot of entrepreneurs don’t deserve it because they would go business even if they got funding. That’s the mental health issue that I see coming. I don’t want to manifest that, but I also want to prevent it. If we don’t discuss it, we’re not doing our job to prevent it. As I say over and over, “My job is to serve the community and the community I want to serve, I want to inspire people to go out there and achieve their dreams.” I want them to be emotionally intelligent enough to understand the struggles that they’re going to take on.

Many times to deal with a lot of those mental stresses, you’re compensating with alcohol, drugs or anything to try to work through the issue.

That’s the challenge to the cannabis industry. There’s a lot of people who are in constant use. Let’s go into the important thing, how do you prevent it? Not how do you succumb to it? How do you prevent that mental health issue as an entrepreneur? You prevent it through gratitude, appreciation, be thankful. When you’re out there and you’re cutting all the checks, you have a tendency to lose respect for the process because you only have two weeks’ worth of pay left in your checking account. When you’re cutting that check, you want that person you’re cutting that check to feel as important about that money as you do. That tension doesn’t reflect good energy and that’s how you fail. My job on these things is to dial in and help people and that’s what I’m trying to reflect with that.

Especially when you’re cutting those checks and sometimes mentally you’re not valuing the work that those people are putting in for you. You know it’s important to get them paid.

Gratitude and appreciation is what determines the level of output and love that they put into their work, which is what you’re going to receive back, which is what’s going to get you out of your two-week pay cycle. It’s a weird dynamic and I’ll also say this. When you’re giving that check to someone, make sure it’s the right person. As a startup entrepreneur, you don’t have that money to waste and you’re not going to get funded until you deserve it. The only way you deserve it is because you are able to effectively navigate the markets on your own skin.

If you're building a team, culture is important. Click To Tweet

I’m sure you’ve learned this from lots of experience but picking the right person can also be a challenge as a new entrepreneur. A lot of times I know people fall into friends, they have friends come work with them and they have family come work with them because it’s easy. How do you break yourself of doing that? Especially as a new entrepreneur, trying to avoid the mistakes that happened at the beginning or the first year, two years.

A few things, having one or two family members involved in your business as an entrepreneur is absolutely paramount and key, I would advise that, I would encourage that. They’re your greatest friend. Also, when that check is getting cut and they understand that it’s your money backing it, they will be the ones that care about that check the same way you do. If you don’t have somebody like that, if you don’t have a stay at home defenseman, your odds of success are exponentially low. First, work with family, choose the right family members. I don’t want to say that are yes man,\ but are non-combative.

We all know the family member when there’s a conversation and a fact comes up when the one person wants to challenge it and everybody else is like, “It’s good enough for me.” It’s a conversation, you all put 0.2 seconds in the 0 to 60 of a car. Who cares? There are some characteristics of understanding, picking your battles because you’re going to have enough confrontation with staff and suppliers and customers. You need someone who’s like, “That’s close enough, I got it from here. I’ll take care of the two-tenths of a second difference and I’ll make that up.”

Those are the characteristic you want to look for in a family member that you’re adding, but absolutely look to add a family member. That’s important. For the rest of the teammates I got, I don’t hire people for a job description which is crazy, we have 42 employees. If you give employees wings, most of the time they’re going to fly. If you pick the right people, if you pick people who want to have positive and neutral and not positive and negative, back to that basis, I always like to make this so it connects back to the purpose of where I opened it and the open had real intention. There are two types of people in the world, some people connect the positive and negative, some people connect to positive and neutral. If you’re building a team, culture is important and if you put positive and negative in there with a positive and neutral, your culture sucks. If you put a bunch of positive and neutrals in there, regardless of circumstance, the worst-case scenario is you have a neutral environment and 99% of the time you’re going to have a positive environment.

I would say that there’s a lot of people that would disagree with you. A lot of the things that you read out there don’t say, “Job descriptions aren’t important.” I appreciate your candidness about that.

Org charts are important, job descriptions aren’t. You have to have organizational structure, but you don’t have to have job descriptions. They’re mutually exclusive.

PP 16 | Entrepreneurship Mindset

Entrepreneurship Mindset: As a startup entrepreneur, you don’t have that money to waste, so make sure you’re giving that check to the right person.

 

Garyn, I appreciate you spending time with us. I’d love to spend more time with you here in the future. I know you have a lot of stuff going on. I want to thank you for joining me. I look forward to talking to you in the future.

Thank you. I hope your show becomes the next Joe Rogan Experience. Good luck to you in all your future endeavors and I enjoy your audience and I look forward to connecting to them deeper.

Thanks, Garyn.

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About Garyn Angel

PP 16 | Entrepreneurship MindsetGaryn Angel is an award-winning inventor and philanthropist from Port Richey, Florida. His work with politicians has guided international cannabis law reform, and his contributions to legal marijuana landed him a spot on the exclusive CNBC NEXT List of global business visionaries.

As CEO and founder of Magical.com, Garyn created the first self-contained herbal extraction device for at-home use: MagicalButter—a machine that takes cannabis from flower to high-quality infusions with consistency, allowing patients of medical cannabis simple, safe and smoke-free alternatives.

His leadership extends beyond business. Garyn founded the Magical Creative Center, an educational program for engineers and entrepreneurs in collaboration with the People’s Republic of China, and writes for Entrepreneur.

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