336 How Startup Founders Build A Legendary Life with Brad Pedersen, Co-founder & Chairman of Lomi

Every entrepreneur and every person who's creative wants to have a deeply fulfilling professional and personal life. But it can be easy to get distracted and pulled off course, which is why we all need “Touchstone Moments” to remind us of what matters. Today, we talk about it with our guest, Brad Pedersen. Brad Pedersen is a lifelong entrepreneur, and the Co-founder & Chairman at Lomi. He's got a new bestseller out called Startup Santa, a toy makers tale of 10 business lessons learned from timeless toys, and it's great. What you're about to experience is a deeply personal conversation about life and startups, the toy business and Brad's learnings from creating Lomi, which is pioneering the smart home composter category. If you think real, meaningful conversations about life and business matter, you're in the right place. You’re listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let’s go. Brad Pedersen on courage and creativity in entrepreneurship Christopher Lochhead and Brad Pedersen start off the conversation with the importance of courage and creativity in entrepreneurship. Christopher reflects on his initial doubts before launching his book, Play Bigger, emphasizing the unpredictability of how the world will respond. Brad praises his courage to put his ideas out there, highlighting the power of the Internet in connecting people. Brad defines courage as finding the balance between recklessness and carelessness, emphasizing its pivotal role in decision-making. He values the courage to embrace the unknown, pursue ideas despite criticism, and create value in the world. Their exchange showcases the transformative impact of courage and the Internet in scaling ideas and fostering meaningful connections. On Mentoring and throwing a rope to those who need it The conversation then shifts into the importance of experienced entrepreneurs helping newcomers. Christopher emphasizes the value of giving back and supporting others in their entrepreneurial journey, drawing from his own mentors like David Ogilvy. They discuss the accessibility of mentors in the digital age, debunking the misconception that mentors are unapproachable. Brad shares his perspective on mentorship, emphasizing the significance of personal growth and the importance of mentors who focus on becoming better individuals. They challenge the pursuit of materialistic achievements, advocating for meaningful connections and personal development. Brad also suggests evaluating mentors based on their character and the positive impact they've made, highlighting the enduring value of genuine connections and intrinsic fulfillment. Brad Pedersen on prioritizing growth over material gains Continuing on the topic of mentorship, they discuss the evolving nature of mentorship and personal growth in the digital age. Christopher reflects on the accessibility of mentors in the digital world, contrasting it with the past when connecting with influential figures was challenging. He criticizes the influence of "hustle porn stars" who promote materialism and envy. Lochhead emphasizes the genuine connection and humility he values in mentors. Brad agrees with the assessment, focusing on personal growth and the pursuit of intrinsic value over material possessions. He highlights the importance of mentors who exhibit excellence and virtue. Christopher then shares a humorous anecdote about a wealthy individual's arrogance, emphasizing the significance of genuine connections over material displays. To hear more from Brad Pedersen and how to realize your touchstone moments in your life, download and listen to this episode. Bio Brad Pedersen: Co-founder and Chairman of Lomi.