Terry Rice on Entrepreneurship and Connecting to the Present

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Terry Rice is a Business Development Consultant based in Brooklyn. As the founder of Terry Rice Consulting, he helps entrepreneurs monetize their knowledge without sacrificing their health, family or personal interests. His focus is advising professionals on how to launch or scale their knowledge-based businesses which can include consulting, speaking appearances, online courses and associated revenue streams. Terry is also an Adjunct Instructor at NYU where he leads workshops for career-driven individuals. A recognized Digital Marketing expert, his previous experience includes helping clients achieve their business goals while working at Adobe and Facebook.

Connect with Terry on his website: terryrice.co

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Show Notes:

[00:04:43] Terry's Professional Background

[00:05:44] Are there hacks to large followers?

[00:07:14] The difference between seeming and being 

[00:07:54] Where did the inspiration come from to take the entrepreneurial leap?

[00:09:56] Terry's Personal Philosophy and first jobs out of college

[00:11:39] Are you Entrepreneurial or do you have a problem with authority?

[00:12:25] Uncovering your personal philosophy

Finding Your Best Course

How to Train Your Mind: Personal Philosophy

[00:15:21] What were the skills Terry had to acquire?

[00:17:26] What is the One Thing?

The ONE Thing by Gary Keller

[00:18:16] 50 Minute Intervals

[00:19:01] Wiggle your Toes and Connect to the present 

[00:21:08] Working out and movement

[00:23:48] Don't bring stressors home

[00:25:21] Putting space between stimulus and response 

[00:27:23] A Stoic optimist

[00:28:22] Mindfulness or other stress relievers

Waking Up App - A free month on me!

Headspace

Brain.fm

[00:30:25] Getting into meditation

[00:33:03] The reaction is your choice

[00:34:17] What jump-started these changes in viewpoint?

[00:35:26] How to keep pushing your edge?

[00:37:20] What were people's reactions to starting your own business?

[00:38:24] How to take the first step in anything

[00:39:49] Sources of new information

The Obstacle Is the Way by Ryan Holiday

The Compound Effect by Darren Hardy

Finding Mastery Podcast with Michael Gervais

Problem Solvers Podcast with Jason Feifer

[00:41:57] A good parent or a crappy parent

[00:43:52] Bad recommendations or pitfalls

[00:45:44] Final Thoughts

Recent podcasts you might enjoy:

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Terry Rice: Entrepreneurship and Connecting to the Present

[00:04:14] Erich Wenzel: Hello everyone. And welcome back to another episode of feeding curiosity. I'm your host, Eric Wenzel and today's episode. We're joined by Terry Rice. Hey Terry. 

[00:04:22] Terry Rice: Erich, How's it going?

[00:04:23] Erich Wenzel: Pretty good, man. This is awesome to finally connect after meeting you a couple of months back and keeping it going, basically it's paying it forward. 

[00:04:32] Terry Rice: [00:04:32] Yeah. Yeah. It was a great experience out in Seattle. And, I've never been in a room where everyone was so aligned with growth.

[00:04:39] So I'm glad to get to continue that with you now. 

[00:04:43] Terry's Professional Background

[00:04:43] Erich Wenzel: That's super cool. So for everyone else involved, can you go ahead and just explain your professional background and then kind of like what you're most oriented towards since that, you know, growth being your thing? 

[00:04:55] Terry Rice: Yeah, absolutely. So, yeah, I've been working in digital marketing since about 2007.

[00:05:00] I had roles at Adobe as a consultant, and also working at Facebook as an account manager, working with brands like BarkBox or Warby Parker, when I had her flowers and just advising corporations on how to grow through digital channels. But about four years ago, I decided to do that myself independently.

[00:05:17]By offering consulting services here in New York, as well as teaching at NYU. So that's my background, advising brands and individuals on how to grow. But, I have lately I've just come to the conclusion that it's not just all time tactics. It's not just like, here's how you grow your brand on Instagram.

[00:05:35] It's so much the mindset that goes into it. And I've just become just more and more excited about sharing that with people. in addition to the tactics that go along with it. 

[00:05:44] Are there hacks to large followers?

[00:05:44] Erich Wenzel: Absolutely. So this is one of the questions that just came up right now, since you're about growing brands are growing pages are people, is there a way, cause like the tactical part to me sounds like hacky. Is there really like, do you do these five things and you'll have a million subscribers or a million followers?

[00:06:01] Is that really true in your experience? 

[00:06:05] Terry Rice: Not in an ethical way. There are hacks, which I don't support either. I mean, the hack is your hard work and being willing to endure through challenging times when the algorithms, you know, being, being reset, or you're not getting responses for the posts that you're putting out.

[00:06:23] But a lot of people that you see that have hundreds of thousands of followers. They might be using bots or they're using, like what we call engagement groups, stuff like that. I don't support those approaches whatsoever. 

[00:06:34] Erich Wenzel: Right. So the reason I asked that is because when areas get popular and podcasting is kind of one of those things right now, it's like everyone jumps on the bandwagon and says, Oh, I'm going to do this thing.

[00:06:45] They start talking about all the fluffiness that it gets when they get popular. Right. But they don't realize the hard work that it has to put in place first the mindset, as you were saying to actually do something that's a value ? And so I don't know if you want to impact the idea of like value versus just doing like a flash in the pan.

[00:07:04] And that might be a little harsh to the outside, but I really don't like this idea of just building something to create followers. Or to create a following.

[00:07:14] The difference between seeming and being 

[00:07:14] Terry Rice: Yeah, it's the difference between seeming versus being. So if you want to seem like someone who has all these followers and it's like this thought leader, and you're exhausting yourself to get, you know, all this attention versus being someone who's like, you know what?

[00:07:28] I have this defined audience. And I have this point of view, I want to share with them. And I don't care if it's a hundred people, a thousand people or a hundred thousand people I'm going to deliver that authentically. And from my standpoint, that's right. That's where I felt. I'm like, I'd rather have people, just a few people follow me and say, this guy gets it.

[00:07:43] You know, like I'm aligned with his thought process, his morals, his values, so, and so forth, as opposed to just trying to seem like, you know, on this, this person who's like on this, this higher platform than everyone else.

[00:07:54] Where did the inspiration come from to take the entrepreneurial leap?

[00:07:54]Erich Wenzel: So for you, where did it begin the process that you could kind of strike out on your own after working for some bigger brands and things like that.

[00:08:02] Where did, where did it kind of make sense that you're like, I could talk to more people than just these smaller areas that I'm dealing with. 

[00:08:10]Terry Rice: Yeah, well, during my time at Facebook, that's when my wife and I had my first child on the way, my daughter, Lena, and I realized the lifestyle working at a startup with not a mesh well with being a father, because I was normally getting home at like seven o'clock at night.

[00:08:26] And, I didn't want my daughter calling me Terry. So I was like, okay, I have to do something different and yeah, just go off on my own, still gonna have more control or my schedule. so that's really how it started as wanting more balance, in my life. But I would say, you know, those first few months can be very challenging and I think that's why some people quit and they're like, okay, let's go back to the nine to five.

[00:08:46] So one thing I learned was how to better focus on impact. And also being patient too, to grow my business over time, as opposed to projecting lack and scarcity saying, you know, I have to get this client or else it's the end of the world. So and so forth. But, that's really where it came from. I just wanted to be more present with my family.

[00:09:04] Erich Wenzel: That makes a lot of sense. It's one of those things that I've been really focusing on over the last probably two years as I finished my degree is this, this idea where I could see that level of workaholism in my own attitude. And I think it's common for anyone who is growth oriented, where you don't need a boss per se saying, Hey, you need to perform better.

[00:09:23] You are doing that all the time for yourself no matter what, when nobody's looking. And a lot of that kind of made me step back and say, okay, are you really doing what you value? Or are you just kind of stuck on the hedonic treadmill, so to speak and are you living to work or working to live is where I kind of go with this.

[00:09:43] And so for you, what was the narrative like maybe getting out of school or getting your first few jobs? Was it, was it really, were you not able to see this new version of yourself back then? 

[00:09:56] Terry's Personal Philosophy and first jobs out of college

[00:09:56] Terry Rice: [00:09:56] Yeah, so I graduated from, Getting an MBA back in 2005. And that was a good time to be sure. My personal philosophy first.

[00:10:04] So my personal philosophy is to be purpose-driven, prepared, and patient. Okay. And when I finished my degree, my MBA, I was not prepared whatsoever to get a real job. So I ended up working retail at a radio shack, literally selling like batteries and stuff with an MBA. So I didn't have a clear vision for yeah.

[00:10:23] That'll check your ego. so I did not have a clear vision for what I wanted my life to be, whatsoever, but it was somewhat aligned with the whole nine to five thing. Like you work your way up the ladder and then you start managing people and so on and so forth. And that does seem like a good idea.

[00:10:38] Cause like that's what we're exposed to, you know, just over the years. But one thing I can realize now, looking back at my career, is that pretty much every job I ever had, I never looked around at someone said, Oh, I want your job. Like, I didn't want anyone to work. I didn't want the president's job. CEO's job, my manager's job.

[00:10:57] So like, I always felt uncomfortable. Like, why don't I want this? But it's because I'm an entrepreneur. That's what I was supposed to be. So I don't regret that because I learned a lot during that process, but I was always like, this is not what I want. You know, like, this is cool. Like, I like snacks and everything, but I don't want to manage a huge team and like to report to a board and all this other stuff. Like it just, wasn't my thing. 

[00:11:18] Erich Wenzel: Yeah. It's actually kind of funny. It's making me think of a framework right now where Maybe it's worth starting with what you do not want to do versus what you want to do? Because if you can figure out the things that you don't even want to touch with a 10 foot pool, then it makes it a lot easier to understand, like what, what direction you should be pointing yourself in to find what you really want to be doing.

[00:11:39] Are you Entrepreneurial or do you have a problem with authority?

[00:11:39] Terry Rice: yeah. And, but on those lines real quick, some people that go into entrepreneurship because like, Oh, I don't want someone telling them what to do. And it's like, no, dude, you have a problem with authority. That's totally different than you want to just start your own business and create value for the world.

[00:11:55] Right. So you should probably solve for that as opposed to saying, Oh, I quit. I'm going to go. Create an app. 

[00:12:00] Erich Wenzel: Yeah, I think so. Like again, kind of going back to that thing where it's like certain words get buzzy and entrepreneurship is definitely one of those things that everybody kind of throws on their Instagram accounts or LinkedIn profiles, like entrepreneur, founder, whatever.

[00:12:12]and I don't mean to be cynical about it, but some part of me is like, Oh, like, are you doing this for the right reason? Because it's not a get rich, quick scheme. Most of the time you have to really know what you're all about. 

[00:12:25] Uncovering your personal philosophy

[00:12:25] Like you mentioned your personal philosophy, and I really want to unpack that because I think reflecting on, you know, I see Lou's personal philosophy is kind of like your anchor to either the daily and then also that bubbles up to the monthly and yearly, like directionality of like, what am I anchoring myself into?

[00:12:43] And so for you, it's really clear how that applies to your life because of the way you say it obviously. And what was the process for you to uncover it? I wouldn't say discover. Cause it's more of like there, you just don't realize it's there. 

[00:12:57] Terry Rice: It was a very specific process. It was going through this course, which I'm sure, you know, you're obviously familiar with called finding your best.

[00:13:06] From the founders of compete to create. And over the course of, I think it was eight weeks of just doing a lot of tough work, inner work to come up with this personal philosophy, which I iterated several times, because at first, you know, you want something that sounds bad ass. It's like, Oh, to be aggressive and productive and blah, the blah.

[00:13:25] And, but then I just sat back and thought like, who am I at my best? Right. You know, when, when I'm at my best, what words or phrase describes me and. Purpose-driven right. You know, like, because anything you do in life is going to have challenges, but if you, if you want to achieve that challenge or that, that, that outcome more than you want to avoid those challenges or the fear.

[00:13:46] You will push through. Right? So being purpose driven, that's the fuel being prepared. Right? You can have the best idea in the world, all sudden there's these random things that go along with it. Oh, I have to, you know, set up a CRM system or I have to start blogging or I have to set up my websites like, Oh, I just want to have this impact in the world, but you have to be prepared to do that in advance, in front load, all those things.

[00:14:07] Right. And then lastly, patients, that's a form of wisdom. Realizing that things take time to evolve, right. And just because you know, you're doing all the right things this week, if you come to Friday, right. And nothing happened, you realized no, but I'm committing to this path of excellence. I know good things will come because not only am I, am I, you know, as part of my vision, but I've also studied other people who have done what I've done before.

[00:14:30] And I think that's, part's really important because yeah, it can be scary. But if you focus more on what inspires you, as opposed to like what you're afraid of, that's gonna get you in the right mindset to be successful as well. 

[00:14:40] Erich Wenzel: Yeah, that's really interesting to me because like, Over the last few weeks, I've transitioned roles at my current job into actually a sales role myself.

[00:14:48] And so I'm now an engineer turned salesman, which again, that is like taboo many, many word frames. But, for me, it's really because of acquiring skills outside of a domain. I use it as an investment into the future because an engineer has a lot of assumptions. Of the things they can't do.

[00:15:08] Right. Communicating effectively, personal skills, all that kind of things. Right. and so for me, I'm trying to break down those things, maybe not right now, but down the road. And then because of like, this podcast is like, that is the vehicle for that. 

[00:15:21] What were the skills Terry had to acquire?

[00:15:21] So for you, what were the skills that you had to acquire that you didn't know you needed until after you set yourself on the path?

[00:15:32] Terry Rice: One would be a process. A process to get clients. First of all, because when you work at Facebook, they just hand you a book. And so like, okay, you're working with guilt or Warby Parker and your new Merry way. So setting up that process to attract work to me, but also this my day to day, how do I structure my day to day in a way that's efficient.

[00:15:51]and also allows me to express myself through, you know, some kind of creativity or going to the gym, or just leaving early to pick up my kids. So that process is really what took me a long time to develop, because there's a difference between being busy and being productive. Right. So if you're doing all this transactional stuff, first thing in the morning, sure.

[00:16:12] You might be busy, but maybe not productive. So for me, I do all I do, I'm more creative in the morning. That's what I'm doing. Any kind of blogging. Or even like commenting on social media, but just realizing, Hey, block off the first two hours of your day, at least for creative work, then go to the gym, then do transactional stuff afterwards.

[00:16:29] It takes a while to get in that rhythm. And then outside of that, figuring out how to attract the right business to me. As opposed to doing outbound marketing. And how do you do that? You know, you're on stages, you're on panels, you're writing high quality content. And instead of you asking someone to work with you, they're coming to you saying, Hey man, I heard you talk.

[00:16:46] I think it was great. You know, how could I learn more? 

[00:16:49] Erich Wenzel: So for you, the, you really obviously fine tune this, this, process for yourself to how to get clients or even just pipeline it I guess. And I think that's one of the more difficult things. Most people. Either entering the work world in general, or just understanding that their system is something they design and however that works for you and how you use your time and attention is really up to you.

[00:17:15] So how do you understand, like, what are the most important things, or I guess what are the most important things that you can't like are non negotiable for you? 

[00:17:26] What is the One Thing?

[00:17:26] Terry Rice: There's this book called? The one thing I believe it's by Gary Keller. One of those names and he says it all starts with a positioning question.

[00:17:37] And that question is this, what is the one thing that by doing so everything, the house will become unnecessary or easier. And that's what I focus on quarterly basis on a monthly basis. So on and so forth. And then you say to yourself, okay, what's the one thing I need to do this quarter. What's the one thing I need to do this month.

[00:17:56] What's the one thing I need to do this week today. What's the one thing you need to do right now. And whenever you catch yourself, not doing one thing, that is a trigger to say, okay, cool. I gotta take a step back because right now I'm like answering transactional emails. But the one thing I need to do is really nail this speech they're going to give next week.

[00:18:14] So let me go ahead and practice that more. 

[00:18:16] 50 Minute Intervals

[00:18:16] Erich Wenzel: That's awesome. So from there it's like pattern interrupts, either a pattern interrupts in a general sense. Like when you, when you've realized that you're, you know, spinning your wheels in something that's not as productive or when you notice that you've become unfocused or even stressed out in some way you do there.

[00:18:34] Terry Rice: Well, first of all, I work in 50 minute blocks. So I'll say, okay, look, you know, I can't lock in and be perfect all day, but I can't lie again for this next 15 minutes. So 15 minutes on 10 minutes off. And then if you do that first, like even three, three rounds in a row, you get a lot done. Right? So that's one thing.

[00:18:52] Turning off the notifications on your phone, not answering any emails, just locking in, throwing on Spotify, listening to somebody, help you zone out. That's one, but. 

[00:19:01] Wiggle your Toes and Connect to the present 

[00:19:01] Your other point about, you know, like when you feel your mind drifting, the easiest thing for you to do is just to wiggle your toes. Ooh, wow.

[00:19:09] Your toes. And remind yourself, Hey, I'm here now, right? Ground yourself. Be where your feet are. And that helps me, even when I'm having conversations with prospects and clients like, Oh, you're a really good listener. I'm like, no, I'm just wiggling my toes and realizing it's my it's, it's my time to listen.

[00:19:25] It's not my time to plan what I'm going to say next. And I'm sure, you know, some people when you're talking to them, And before they respond, there's like a longer pause. You're like, are you listening to me or what? Yeah, they are. They're listening so much. They're now thinking about how to respond, being weren't thinking about their response while you were talking.

[00:19:43] So that pause is a sign of respect in my opinion. 

[00:19:46] Erich Wenzel: Yeah. That's interesting. You do notice that because a long pause makes it feel awkward for a lot of us because we're not used to people pausing, especially after talking for so long, a lot of people are just kind of waiting for the next squeezing the next word or there's talking before you even finished your sentence.

[00:20:03]Terry Rice: But if you, if you look at people who are like, well, media trained, right. They're doing interviews and on stage and stuff like that, they'll do that too. Like they'll just pause and they'll say, Oh, And then respond, right? So they know that those three seconds they give themselves to think is going to help them say something brilliant for the next 30 seconds.

[00:20:22] Instead of just trying to like rapid fire, like spit something out, to close that gap, which might be seen as awkward. 

[00:20:28] Erich Wenzel: Yeah. Wow. That's so interesting. It's funny too, that you brought up the bed where your feet are again too, because every time we heard that we were in Seattle and that was one of the things that I remember writing down, because it's so powerful and it hit me again.

[00:20:40] Just, you said it in a little bit of a different way, but I was like, Oh yeah, I got to remember that more often because it's one of those things that we forget to anchor ourselves in this moment. Because we're always thinking about what to do. It's so easy to get stuck on that.

[00:20:56] Like, Oh, okay. I got 15 minutes to do this thing. And then like, after that, I got a call this pro you know, it's so easy to get trapped in those never ending spirals of the next thing, not the thing you're doing right right now.

[00:21:08] Working out and movement

[00:21:08]From there, if you had, like, for you, you mentioned working out, what is it like has working out always been a routine in your life? Or movement, right. I guess more broadly, has it always been part of your routine or is that a newer thing or how have you refined that over the years? 

[00:21:22]Terry Rice: So in college it was because I was an athlete and then after that, I just kind of want to maintain it. So that was part of it. But that was like, that was for the beach.

[00:21:31] That was all just to look good. It wasn't like anything like, you know, mental, mental, or training or anything like that. and then when I first moved to New York, I was. I was still in the habit of doing it. And I fell off like in my mid twenties or late twenties, maybe for about five or six years.

[00:21:50] And that was a challenging time because like your clothes start fitting a different person. I've seen you for a while. They're like, Oh, what happened? And it's like, because when you get small, after being larger, you were like, are you okay? And stuff like that. But, right before my daughter was born, that's when I got back into it.

[00:22:06] And it's been a really good way just to. Obviously strengthened your body. But for me, it's a mental thing too. Like that's how I release stress and it's beneficial because I think it helps me, it helps moderate my mood. So for example, like if I get some kind of like snarky email from someone. I don't have to respond back with that because I'm like, I just deadlifted 400 pounds.

[00:22:28] Like I got my aggression out earlier today. I'm good. If you're feeling some kind of way, Hey, that's fine. I'm still gonna respond in a way that's, you know, professional or at least cordial. Right. So that's, that's, that's part of it. It's, it's just mood regulation and. For me, the easiest way to do that is to go to CrossFit because it's only an hour long class.

[00:22:47] It's very intense, but you have to go certain hours of the day. So there's no, Oh, I'll do it this time. It's like, no, there's no classes then, or you're at home with your kids. So that commitment to that discipline has been extremely valuable for me. 

[00:23:00] Yeah. That, that's an interesting point you make, because I spent a lot of my time when I was first working out as just an exercise in discipline where it's like, okay, after work, you go to the gym and then that was it.

[00:23:10] But as I got busier and busier with. Just life and stuff. It made it a lot more difficult to leave work and be like, okay, you go to work after that, are you going to the gym after. W work. And then it was like, you get off at four 30 and then you get off at like five 30, you know, it's slowly creeped further and further out.

[00:23:27] And the next thing you know, you're getting to the gym at seven or eight and then you're not home until like nine and then you gotta go to sleep and, you know, do it all over again. And so I find in classes, it's been a really powerful tool to be able to like, Nope, you get your butt out of work. At this time, so you can make that class and then, you know, there's no excuses, like you said, you're going here.

[00:23:48] Don't bring stressors home

[00:23:48] Erich Wenzel: So you're going to show up for that time. And it's been a lot of, it's been a lot of usefulness because the pressure relief valve is kind of the way I call it. you know, just letting your brain shut off for that either the hour or whatever, or put on loud music and kind of just, you know, be in your body for a few times.

[00:24:05] Cause it's easy to get stuck in your brain. You also mentioned too, that it was not initially a mental exercise for you. When did that change? Because for me, I didn't even think about that component either. Probably not for the first year, but I do notice that I just do feel better. Right. Because of the neurochemical reactions that happen.

[00:24:27] Terry Rice: I think it, maybe since I got older and I had. Other stressors in my life that weren't present when I was in college. Right. So it's like, you know, I've, you know, it's growing family and I have a business to run like that. And what you don't want to do is bring all that home with you. Right, because again, be where your feet are right now.

[00:24:45] I'm at home. I should not be stressed out about work. So if you find that to your point, that releases a little valve of little exercise, that works for me. Like when I'm there, I'm like, if you have anything in you that you need to get out, this is the place to do it. It's not when you get home and you're snapping at your daughter for spilling juice, the counter, this is the place to take care of it.

[00:25:05] And that's. It's, that's why it's such a gift to have a schedule where literally my gym is the building next door to my office and isn't walk VI. I walked there two minutes, not even. And I'm, I'm just really fortunate to have that lifestyle where I can reckon do that.

[00:25:21] Putting space between stimulus and response 

[00:25:21]Erich Wenzel: The other question that you remembered there was, you mentioned emails, right?

[00:25:25] You get, maybe you get a nasty email or a phone call with a customer who's being a little bit more forceful than usual or something like that. How do you like to put it between the stimulus and the response,  rather than responding with the first thing matching their tone, what do you do?

[00:25:41] Do you take a lap around the building if you're going to notice yourself being elevated or maybe you're like want to yell at somebody or whatever. 

[00:25:50] Terry Rice: I think the first thing is I proactively avoid situations where I might deal with someone who's kind of a jerk. And I say that because I'm a consultant. Right. So I sell my services, but yeah. Even as the seller, you should always be the buyer. So if you feel like someone just not a good mental space, or just like, you're not aligned in like your work ethic or even like how much you respect each other, whatever it is, then you gotta say, Hey, this is not going to work with you, but moving because you yourself signed up for this opportunity to potentially have this experience with that person.

[00:26:21] Now in situations where it does manifest it's beneficial to play the role of public defender. Where you're trying to defend that person's actions. So if someone's acting like a jerk, you can say to yourself, you know what, maybe they got some really bad news about their apartment or, you know, maybe they're having, you know, they had a tough commute, so and so forth. And even if that's not the case, it's a better way for you to look at the world instead of the world being a hostile environment, you try to explain someone's behaviors and therefore you don't take it as personal.

[00:26:49]so that's usually my approach, but at the end of the day, I'm like, that's all your problem. And Hey, I hear ya. That's that's too bad, but I'm in the zone right now where those kinds of thoughts, that kind of mindset, you can't get in this. Right. So it's, it's you, what? You're trying to push up on me. I don't accept.

[00:27:07] And you know, we'll have to continue this conversation, but I'm not going to do it on those terms. 

[00:27:11] Erich Wenzel: That's, that's really interesting. I do like that a lot because it's. It's a one on one exercise in empathy and you get out of your own own shoes. It's like, okay, I get why this person, and it's not a reflection of me, which is huge.

[00:27:23] A Stoic optimist

[00:27:23] And then the other part is just not accepting it to bring down your mood. Would you consider yourself to be a person who's pretty, even across the board when it comes to emotional regulation, I guess, like, do you get hotheaded? 

[00:27:38] Terry Rice: No. So I would be described as a stoic optimist. And by that, I mean, you know, it is what it is now, what are you gonna do about it?

[00:27:46] But I do expect good things to happen. if they don't, I'm like, okay, cool. Well, what can we do about it from here? Right. We're here now. We can't spend time wishing something didn't happen. It did happen. So what's the next best thing we can take. But when it comes to being an emotional hothead, I don't see a value in that because you have a finite amount of energy.

[00:28:04] Right. So if you're going to expel that by like yelling or whatever, like that's not going to solve anything. Like no one ever had a problem. And they're like, well, I just yelled about it for a while. And it went away. You're like, that's that story never gets told. Yeah. So I don't think it behooves anyone to like pop off like that.

[00:28:22] Mindfulness or other stress relievers

[00:28:22] Erich Wenzel: So the next question there is, do you practice any sort of mindfulness routine outside of working out any other ways of relieving stress or anything like that? 

[00:28:32] Terry Rice: So I drop off at least two of them with three kids every morning before I get to work. And luckily I can do this, I can just walk here, but the very first thing I do want to get to my best.

[00:28:41] Cause I meditate for 10 minutes cause I have to kind of clear that out and, it's, it's beneficial just to kind of reset and say, okay, cool. Here's where I am now. So I meditate for at least 10 minutes. And then in the afternoon, sometimes if I need a reset, I'll take like five minutes or so to do that as well.

[00:28:58] And then at night, what I'll do is I'll listen to a different meditation, which is more aligned with you, manifesting a vision that you have for your life. So what does your day to day look like? What does your home look like? Who's there. And you need to do that because when you, when you have this vision and you, and you, you meditate on it, your brain actually creates neural pathways to help you get there.

[00:29:19] Right? So you can't just have a goal, like your goals. Like I want to make half a million dollars a year because your brain is like, look, I have no clue what that looks like, but if you have a vision saying, here's what I'm doing here. As I get there, there's the doing brain and the thinking brain, the doing brain only does it.

[00:29:33] The thinking brain thinks. So you have to think about these things in order to manifest them. 

[00:29:39] Erich Wenzel: That's it that's so fascinating. I've used Sam Harris's app and I've used Headspace, I like Sam Harris a lot better. And then I've also started dabbling into, I don't know if you've heard of brain FM, it's an app.

[00:29:51] Basically. It has music that scientifically shows like it activates like better focus in the brain. And they also have some sleep stuff too with music. So they have some science behind the different tones and things like that that basically allow you to unlock different focus States or the clearing away of some of that like mentally shatter, basically. So it sounds really similar to what you're saying there with meditation. And it's just one of those things that the more I learn about this stuff that seems really unscientific on the surface, or at least at first glance, it's turning into like, Nope, there's actually a lot going on behind the scenes here.

[00:30:25] Getting into meditation

[00:30:25] And it's endlessly fascinating for me. What was it like getting into meditation for you? 

[00:30:33] Terry Rice: It was rough because I'm like, I'm like you just sit here and breathe, you know, like, it's like, what's the point of this. And then the challenge you'll have is like your focus dress, right? You're like, you're trying to have this single point focus and all of a sudden you're thinking about lunch and then, and then you might feel bad.

[00:30:49] You're like, Oh, I'm messing up. You know? And like, you know, you kind of go down the spiral. But, one thing I learned from, The event we attended beyond finding your best event was, you know, even when your mind drifts pulling it back as like a, it's like a muscle, it's like a flex, it's a skill you're like, okay, cool.

[00:31:05] I'm getting stronger at this. So you shouldn't get down on that. You should say, okay, let me persist through, and this is part of it. But another thing to realize that it takes like two or three weeks for the impact to actually kick in. So you have to be patient and just push through that. But what I found was within a few weeks, I remember it was like this football game with my niece.

[00:31:24] I'm at Syracuse university. There are these kids behind me that spilled a beer, like all over me and like my jacket. And I'm like, that is annoying. Like I knew it was annoying, but I wasn't angry at all. I was like, Hey, when I was a kid, I was doing the same stupid stuff. That's when I realized like, I should be kind of pissed right now, but I'm not because I'm happy to be here with my niece.

[00:31:45] And I'm like, that's a direct result of mood regulation through meditation. 

[00:31:49] Erich Wenzel: That's that's an awesome example. I think honestly, the more stories like that one that come up are going to be what. Really tipped the needle on these because people think about just what you said, like sitting there paying attention to your breathing, like, Oh, that's what meditation is.

[00:32:04] Like. No, no, no. I guess there's, there's way more applicable to the daily daily grind, right? Maybe you get caught off at. Like on your way to work, or, you know, you have this meeting with your boss and like, if you can take a couple of deep breaths before you go into this meeting every week, you don't get like upset because you know, the boss isn't going, they're not upset at you.

[00:32:22] They're upset at the numbers that they don't look as good or, or whatever. Right. It's stuff like that. And I think those real life stories that help you approach the moments that would normally. You know, pissing off the average person in quotation marks is really where the super power of this stuff is where you let things roll off your back.

[00:32:38] That wouldn't it was, and it's so fascinating to see that happening on so many different angles like that. 

[00:32:46] Terry Rice: yeah, it's a, it's a choice. I mean, this happened, what do you want to do next? Do you want to yell at the kids behind you or do you want to sit there and enjoy the time with your niece? Like, you know, it's up to you, but either way, your jacket's still gonna be wet.

[00:32:56] Like you can't play, it's not going to dry off getting angry. Won't make it dry quicker. So it's like, what's the point. 

[00:33:03] The reaction is your choice

[00:33:03] Erich Wenzel:Okay. So that's a really good point. Where was the road like that fork in the road where you can kind of see that there's this ability to react to moments is your choice. Cause I don't think a lot of people realize that how we react to any moment is up to, 

[00:33:20] Terry Rice: I think it's from studying other people who are preaching the same approach. And I'm not saying like, turn the other cheek like that, that. You know, far back, you know, that's that degree, but when you just do it in practice and you're like, okay, well I chose to take the high road or whatever, and I'm glad I did it.

[00:33:40] And I actually, what I do is I try to like bookmark moments in my life. I'm like, okay, remember for this moment this happened. Here's how you feel about it. So next time something happens like this. You can say, look, if I just push through it the same way I did last time. And, you know, keep it more positive.

[00:33:55] I again will get rewarded with this feeling. So I, I, by design, I try to bookmark moments and same thing with you. Probably like when you leave the gym, you're like, Hey, remember you feel great right now. You didn't want to go, but you feel really great right now that way, next time you're considering that going.

[00:34:09] You're like, Hey, Nope. Remember you felt great afterwards. So by design, that's what I do. And I think that's the moment that led me to this realization. 

[00:34:17] What jump started these changes in viewpoint?

[00:34:17] Erich Wenzel: That's super important. One of the things that I remember. I forget where I actually heard it was definitely a podcast, but it was like it's through pain that we make changes.

[00:34:27] It's when everything is going right. And sunshine and rainbows were least likely to make some sort of change in our life. It's when things go sideways, for some reason and the cause of pain response is when we're more likely to make a change. And was there anything like that for you that kind of jump started some of these changes in your thinking or behaviors?

[00:34:49]Terry Rice: I would say it's the one thing I would say. It's the realization that stuff is always going to keep coming up and you can't ever. Get too comfortable because that's part of life. So you have to front load the skills to thrive even right. Challenging situations because they're coming and good times there they're fleeting.

[00:35:11] Right. So if you can't ride the highs and the lows and still, you know, recover to get back to another high you're in trouble. So that's where the mood regulation comes in. And it's the realization that like, Hey, you know, things are gonna come up. So, you know, when they do, I'm not hoping for them, but I'm prepared.

[00:35:26] How to keep pushing your edge?

[00:35:26] Erich Wenzel: Yeah, that's again, it's one of those things. I think the other part of this that might scare some people away is that there's never an end. Right. But that's half of it. And I think, you know, some people were like, yeah, well, where where's the enough part? Like when did, when do I get to stop? And I'm like, well, unfortunately we never get to stop.

[00:35:44] You know? And I don't know the way that you anchor yourself to understanding that your best is yet to come or that, you know, quitting last, or even as another way of looking at that, like you just gotta keep going, no matter what. 

[00:36:02] Terry Rice: I mean, the way I see it as like there's a gap between what you're comfortable with and what you're capable of, and the size of that gap is directly proportionate to the regret you'll have about going for it and what you're leaving on the table.

[00:36:16] So for me, my goal is to continually close that gap. Even though you have to push through fear, learn new skills, so, and so forth. But as I closed the gap, I'm like, okay, well shoot. Maybe we should push that a little bit further. That's the fun part. And I want to feel like at the end of my life, I've exhausted my talent.

[00:36:33] So I never really want to feel comfortable. I wouldn't be like, Oh, there's other stuff I can do. Not in terms of like, you know, monetary gain. Cause it's not like, okay, I need more money, but like there's more impact that can have on other people. There's ways for me to be, you know, a better parent or a better husband, something like that.

[00:36:48] I never want to max out like, okay, I'm good. Let me just stay complacent for another 30 or 40 years or so. And so for me, it's the pursuit. That I enjoy, but I enjoy the journey. So I'm not just looking for the outcome. I enjoy the actual pursuit. 

[00:37:02] Erich Wenzel: There's another common thing about people who are striving for something they may or may not even be able to explain. They're just on this thing and they're like, there's more to be explored. It's so it's super fascinating for me because I feel exactly the same way just in different avenues. 

[00:37:20] What were people's reactions to starting your own business?

[00:37:20] The, the one thing too, that I would want to pick on here is kind of like in the beginning, when you first started, you know, maybe thinking about going to do this business on your own, did you tell any friends or family and did they have any hesitation or like voice, any opinion as to why, like why it was a bad idea or were people supporting you and that.

[00:37:43]Terry Rice: It was mixed, but I would say. People who've already done it. They were the ones that were more encouraging. Someone's like, look, I've had a nine to five forever. My uncle had a nine to five. My sister has a nine to five. Hey dude, don't do it. Less is risky. But people who have done it and come out well on the other side, they're the ones who say, yes, it is risky, but I've known you for X years.

[00:38:03] You're built for this. And I will support you. I will give you, you know, these tips or these books or whatever it is. So you have to realize sometimes you're getting. Bad advice from the wrong people and just realize, you know, you want to get it by sort of someone who's already walked that path. Not someone who's maybe afraid and afraid for you. And that's why they're saying these things. 

[00:38:24] How to take the first step in anything

[00:38:24] Erich Wenzel: So for this is a more general question, not just for starting a business, but when trying to take that first step into anything, it could be working out. It could be meditation, it could be starting a business. What would be your way? Of giving yourself the okay to just attempt something new or something unknown.

[00:38:46] Terry Rice: I remember my, when I was a sophomore, I started playing football. I took a break for Weiss to play. When I was younger, I started playing JV football and we had to do double sessions. So you have two hours of practice in the morning and the two hours at night, and this is like 90 degree weather. And after the first day, like I was like, I guess I was like 13 or 14.

[00:39:03] I walked off the field and I was like, well, I didn't die. I guess I'll come back tomorrow. So that's pretty much my approach. Like anything new you're trying, in most cases, it's not going to kill you, but you have to push to you that, that fear, that apprehend Jenny to say, look, I'm just going to try it because another way to think about it is like you just sit down and say to yourself, if I continue doing what I'm doing right now in five years, I will feel this.

[00:39:29] And if the answer scares you, then you have to change what you're doing right now. Right. Because it all starts that day. So when, anytime you want to try something new, meditation, working out, eating better, whatever, just think what's the alternative, right? What's the opportunity cost of me not trying this new thing.

[00:39:44] And from there you can decide like, Hey, I should probably try this out and see what happens. 

[00:39:49] Sources of new information

[00:39:49] Erich Wenzel: That's really cool. So from there, I think that right now it is a perfect point to talk about books. So taking in either new information, it doesn't have to be books. He could also be podcasts, audio books, regular books.

[00:40:01] Anything you want to share is like, where do you get sources of new information or high quality information to kind of give yourself the okay to explore? 

[00:40:11] Terry Rice: I'd say one book that I read that was very enlightening was The obstacle is the Way by  Ryan holiday. And it's all based on stoicism. So again, your life is like, you know, it's it's perception, then it's actually gonna endurance.

[00:40:27] So I'm very aligned with that another book I read by Darren Hardy, it's called the Compound Effect and he talks about how doing small, significant things on a daily basis consistently will lead to great outcomes. So to say like, you know, you have to instill these good daily habits in yourself. In order to get this, this life that you want, but it's the commitment to that habit.

[00:40:50] That's really important. So I would say that's another, and in regards to other, other content, I listened to Dr. Michael Gervais Finding Mastery podcast, obviously aware of that one. what else? Jason Feifer, who's the editor-in-chief of Entrepreneur magazine has a podcast called Problem Solvers.

[00:41:09] And it's about how entrepreneurs solve problems. The reason why I like that a lot is because. You see all these people that are successful and you're like, Oh, look at them. But they tell the story, like, no, I was sleeping on my mom's couch and borrowing money for lunch. And here I am now. So it kind of humanizes people that you see in such high regard and makes you feel like, Hey, if they went through this, you know, so can I, and I can be successful as well.

[00:41:33] So, those are a few that I would share. 

[00:41:34] Erich Wenzel: Cool. Yeah, definitely ones I will look into because I like the humanizing element of a lot of these things. You know, we, we inadvertently put people on pedestals, you know, when you don't know their story, you know, you see them from the 10,000 foot view and look how much money they have and look at all these big companies that they've built, but you don't.

[00:41:50] No, that person, right. The struggles, because they were 20 years old or something at some point where they didn't know if it was going to work out either. 

[00:41:57] A good parent or a crappy parent

[00:41:57] You've mentioned a lot here is about parenting and kind of creating the life that you want so that you can be the best parent and husband.

[00:42:04] Is there anything you want to share about. Just kind of managing, you know, the craziness as that is life, no matter what, you know, it doesn't matter that you're an entrepreneur or not, but like, what are your, like, ideas is like striving to be a parent. Cause I think it's one of the things that is the most important job that we don't really talk about.

[00:42:23] Terry Rice: So, I mean, when I, when my daughter was on the way I was talking to one of my buddies, I was like, Hey, can you give me some advice, you know, on how to, and he's like, it's not that hard. You decide, do you want to be a good parent or a crappy parent? And then basically, and what you choose, that's the path to go on.

[00:42:37] So if you say you want to be a good parent, That means, yes. You have to wake up at four in the morning when your daughter wants a tissue. That means yes. You can't work out in the morning cause you have to be there for your kids, but it is rewarding and yeah, that want to go too far to that.

[00:42:51] Cause like you've all heard that story before, but, it's work too. But I think that me having children is my unfair advantage because I have to be more efficient during the Workday because there is no midnight oil to burn. I can't go home and bang out a couple more hours of work. As soon as I leave my office, I'm picking up my kids and it's on from that.

[00:43:11] Right. So there's less excuses and less, less, less leeway for me to not be as productive. So it's, it's, it's a gift, in many ways, but, that's, that's the way I think of what you want to be a good parent. You want to be bad. They're just kind of taking it from there. 

[00:43:24] Erich Wenzel:I mean, it's, it's cut and dry, real simple like that, but I really liked that.

[00:43:27] And it's one of these questions I asked the people because I think it's, it's one of these things that we just don't talk about enough . It's for me, the way I look at is like, how would you let a child explore the world? Is it really similar to like, answers of like, how would you give advice to other people to explore the world, or you wouldn't prescribe to shove a certain like medicine down their throat for that?

[00:43:46] So you can kind of interplay a lot of these ideas from just the parenting lens. I really enjoy that.

[00:43:52] Bad recommendations or pitfalls

[00:43:52] It was, it was there and then it just got gone. I don't remember where it was. Crap. The, that was bothering me cause I knew, Oh, that's what it was. It was a bad recommendations in any of your areas of expertise. So you kind of mentioned it before, like taking advice from people who didn't know what they were talking about because they'd never done the business on their own.

[00:44:15] Anything else, either in speaking or writing or entrepreneurship in general, you know, pitfalls. 

[00:44:22] Terry Rice: Pitfalls, I would say comparison. And I'm sure you've all heard that comparison is the thief of joy. So there are so many entrepreneurs on social media who are again, are just like projecting the K everything's going great.

[00:44:35] And I'm awesome. So and so forth. And if you're having a bad day and you see that. It can actually make it worse. Right. So what I would say is like, just to stay on path and you're not trying to be the best this person and that person trying to be the, be the, be the best version of yourself. But you can't do that if you're comparing yourself to someone else and feeling less than because you're not where they're at.

[00:44:56] And then beyond that, I mean, some people who are even enjoying levels of success, what they've had to do to accomplish it, maybe you're not willing to. Right because of your ethics or morals or values, whatever it is. So I would say it sounds corny, but just be true to yourself, follow your own path. And then from there, you know, always remain curious on how you can just chase this mastery of life.

[00:45:18]Erich Wenzel: You're really dialed in on this whole mastery concept. It's so cool to see just like it in action. It's one of the interesting things for me to, to connect with people like yourself there's a focal point. But then, and with shared teachings and values, but then I get to see people, well, like yourself who are applying it in their own life and then in their own way.

[00:45:38] And they put their unique spin and twist because they've all read different books and stuff like that. And does it see how you've internalized it? It's so cool. 

[00:45:44] Final Thoughts

[00:45:44] Are there any other aspects or messages that you'd want to recommend to someone or just kind of put out in the world that you may not have gotten to say to anyone before.

[00:45:55] Terry Rice: Yeah, and this is going to sound very basic, but I would recommend everyone just think more and by think, I mean, stop doing stuff all the time. Just focus on thinking and being, give yourself a half an hour every week just to sit there and think, and whatever comes to mind. If you want to write it down, that's fine.

[00:46:14] But don't take action on it. Think about what you're doing for your business, for your family, for your life, why you're doing it. And maybe some adjustments you might want to make, but I think sometimes we're so busy doing, we don't have time to sit there and think and say, well, why am I doing this?

[00:46:29] But if you give yourself that opportunity and just afford yourself, that space you'll get great results from it, because you're going to further refine, refine whatever you are doing. Why are you doing stuff? 

[00:46:39] Erich Wenzel: Awesome. Terry, so with that, I think we'll end this first conversation cause I got to get back to work and just where can people connect with you if they want to find out more or just say hello?

[00:46:51] Terry Rice: Yeah, sure thing. So my website is Terryrice.co and then on social it's it's Terry Rice

[00:46:57] Erich Wenzel: Sweet. There we go. And, there's always room for around two, or if you ever have anything you want to share with me and the people, we can always make that happen in some way. 

[00:47:08] Terry Rice: Awesome. Appreciate that. 

[00:47:09] Erich Wenzel: [00:47:09] Yup. Thanks, Terry.