How to Create Self Discipline - Brad Pedersen @ Pela

About this video

Dan Martell interviews his friend Brad Pederson, co-founder of Pela, about a 20-plus year entrepreneurial journey. Brad says he grew up in the prairies of Alberta expected to become a chiropractor like his father Don, but instead pursued ventures that led to the toy business and close to 20 years in Toronto, shipping, in his words, billions of pieces of plastic. He describes growing a distribution company, hitting a wall in 2006 and landing in special loans within 90 days after a record year, and bankrupting the company twice. He credits his wife for standing by him, his father and mentors such as Darren Hardy for his focus on personal development, and the Ray Kroc quote he framed by his bed: the price of discipline weighs ounces, while the price of regret weighs tonnes. He explains his motto of making more magic memories, his ‘crystal balls’ of family, faith, fitness and finances versus rubber balls that bounce, raising kids by letting them struggle, and Pela lessons on people, capital and process. He also recounts starting Tech for Kids in 2009, a merger of two companies each doing about 60 million that generated about 130 million in revenue, being released within 90 days in the summer of 2017, and adopting three principles: life plan before business plan, only awesome people, and do things that make impact.

Key takeaways

• Brad lives by his motto ‘3m’ — make more magic memories and increase them in frequency and intensity — across business, adventure and family life
• His 1-3-1 rule for problem solving: no one brings a leader one problem without also presenting three possible solutions and one recommendation
• Brad says businesses are constantly breaking in three areas — capital, processes and people — and those three must be continually reinvented as the company grows
• He treats family, faith, fitness and finances as crystal balls that shatter if dropped, while fun, friends and freedom are rubber balls that bounce
• His three principles after 2017 are: life plan before business plan, only awesome people (life is too short to work with assholes), and do things that make impact

Episode details: published August 2, 2021 · 53:23 long. Summary written by Self Growth Videos from the episode itself. Business results and any income figures mentioned are Dan Martell’s own claims, shared for education — they are not typical or guaranteed.

← Previous: Get Millions of Leads With This Strategy · Next: You Already Know What You Need To Know →

All Dan Martell videos · Dan Martell profile · Dan Martell (official site)