As part of our weekly podcast, The Hustle Sold Separately, our partner in crime, Matt from hdfmagazine.com, and PRSUIT sat down with Gerard Adams to discuss his journey, passions and lesson s learned.
Gerard Adams is the co-founder of EliteDaily.com, a respected angel investor, millennial mentor & social entrepreneur.
Gerard co-founded Elite Daily (EliteDaily.com) in 2012 and the website quickly became the no.1 news platform for Generation Y. Gerard overcame early adversity to become a self-made millionaire by the age of 24 and has since devoted himself to inspiring and mentoring young entrepreneurs on what it takes to be successful.
Gerard continues expand and diversify his investment portfolio backing businesses across multiple industries from technology to digital media to fashion. His most recent project, a video-series called Leaders Create Leaders, reflects on his personal journey from a hopeful entrepreneur to a millennial mentor.
Be sure to list to Episode 35 of the Hustle Sold Separately featuring Gerard Adams for the full, raw and inspiring conversation.
Below are some of our favorite quotes from the conversations.
“I owe it all to my mom and dad for inspiring me. They’re the first mentors of my life. My mother’s work ethic working 7 days a week. My dad, same thing. Crazy work ethic but instilled in me leadership at a young age.“
“I wasn’t the smartest kid growing up. I wasn’t the book smart kid. I was a “C” / “B” student. I started a lot of side hustles cause I needed to provide for myself.”
“Pretty quickly I decided maybe this (college) isn’t the best route for me. Let me try becoming an entrepreneur. I felt like it was in my nature and I wanted to use the Internet as a tool to get educated.”
“My family was like, ‘Look, this is your life. If you fail, you’re going to have to pick yourself back up. You’re going to have to figure it all out. And that pressure really pushed me to work really hard at it. It was up to me and nobody else.”
“I was making multimillion dollar trades and what happened was I ended up getting to cocky, too greedy and too confident, and I made a trade that put me up $20M on this trade. I was in my mid-20’s. I thought the stock was going to continue to go higher. That day the market crashed heavily and took this company with it. I lost everything that I had worked for up until that point.”
“For me, it was a lot of pulling out what was already inside of them. Making them believe that this is something that could become as big as it did, understanding that it’s not going to happen over night, helping them get a little bit of structure, helping them look on how we’re going to build a team.”
“Let’s face it – if you’re going to start your own business, your daily schedule won’t be the same as the 9-to-5ers. You’ll put in more hours each week than anyone else you know, so you’d better be passionate about what you’re doing. Be sure to get a stress test done, because starting and running your own business isn’t a cake walk. Also, don’t expect a constant cash flow, my friend. Being an entrepreneur isn’t for the faint of heart, and if you aren’t careful, you could become jaded and lose your sense of wonder in the world. Enduring years when paychecks are few and far between is all but inevitable.”
Be sure to list to Episode 35 of the Hustle Sold Separately.