IBM 200 | 7 Top Business Lessons Learned Over the Last Decade


It’s been ten years since we each quit our jobs to strike out as entrepreneurs. It’s also the 200th episode of Internet Business Mastery.

To celebrate these milestones, we wanted to share with you the seven biggest lessons we have learned from a decade of creating businesses and helping others do the same.

 Right-click here to download the MP3

In This Episode

  • How to avoid “The Arrival Fallacy” trap that will cost you success and happiness
  • The secret to taking consistent, massive action
  • How to break through perfectionism
  • The “two word” secret to attracting a loyal following and making money online

Items of Interest

Know Thyself

Be You

Be Consistent. Just Show Up.

Progress, Not Perfection

Create Value

Happiness Now

Quick Tip

How to Deal with the Annoying New GMail Filters

Action Guide

  1. Choose one of the seven lessons shared in this episode that you want to apply in your business
  2. Choose one of the action items that we shared for that business lesson
  3. Set a goal to get started this week

What do you think?

What is the most important business lesson that you have learned from your experience?


  1. Wow, guys! I normally don’t leave comments that simply state, “Congrats!” but I felt compelled to do it this time. What a run you two have had… and continue to have.

    I’m rooting for you both and love finding small ways to support ya on the journey.

  2. Loved the episode. Especially the part about the arrival fallacy. Or as James Altucher puts it, stop time traveling. Living in the now is something I am practicing everyday and slowly getting better. I’m definitely going to use the Seinfeld calendar to start writing at least 10 minutes a day no matter what it is about. You guys rock and keep up the great work. I can’t wait to see what the Academy 3.0 has in store.

    • Thanks Adam!

      The arrival fallacy is still something I have to fight daily, even though I know that it is a trap and all the research I’ve been doing on happiness says that thinking that way reduces freedom. You are right to live in the now more, that is what all the research said to do if you want more happiness!

    • Adam,

      Let us know how it goes with the Seinfeld calendar.

  3. Truly a great episode, as I tweeted last night. I’ve heard it before and it helps each time “just start” That and now I remember where I “Stole/Borrowed”” the line “…recovering perfectionist” from.. it was you guys! Gotta love it…. Now to get back to work and get my content out there, even though there are people putting similar material as mine, they just aren’t ME!

    Looking forward to meeting you in person one of these days and chewing the fat.

    Thanks again for all that you both do.


    • Thanks for the kind praise and the tweet! Funny you mention meeting up one day, which sounds great, I’m off to lunch today with start student Chris Oatley!

  4. Hi Jeremy and Jason,

    this episode truly is a masterpiece.
    Thanks for sharing those tips and links, I need to find some time to go through these ;-)

    Incredibly inspiring to see how you managed to overcome obstacles by just taking action and improving yourself over time.

    Thanks for sharing your experiences in this details!

  5. Hi guys

    congratulations on your progress. I found it more than interesting that the key lessons you learned are pretty much all about mindset rather than real nuts and bolts technical stuff.

    I was listening to the podcast while riding my bike this morning so I admit I haven’t got to the end of it yet – there was more podcast left than my energy would allow! : )

    I’ve heard Jeremy in his audio blog recently talking about business success being 90% (or 99% ?) about mindset and the rest about the technical, so I suppose your approach to this podcast stands to reason.

    Here’s to another 10 years!



    • We sure have been getting long with these podcasts, that is for sure! I hope that just mean multiple listens and happiness rather then people thinking it’s TO LONG!

      Yeah, I do believe mindset is 90% of success and I’ve seen it over and over.

      Oh yeahhhh to the next 10 years!

    • Garry,

      We really pushed the cardio workout length on this one!

  6. G’Day Jason and Jeremy,

    This was another great ep, well done dudes!! I found a book while online the other day and I think it might challenge your “Macrame Business Idea”. The book is called “CRAFTING WITH CAT HAIR”, you have to check it out, it is a great laugh, also if you Google the same name, you will find some great photos of people who have crafted with their cats hair. Gotta love niche.
    Link to book: Crafting with Cat Hair: Cute Handicrafts to Make with Your Cat

    Enjoy Guys!


  7. Awesome, awesome, awesome! The point on Arrival Fallacy is just what I needed to hear today. Another variation that I use (but had managed to forget today) is “happiness is created, not waited for.” We need to make the most of this journey every day.

  8. Excellent show guys! TONS of “nuggets” in this (and every) podcast. I absolutely love how you both have become super-transparent, sharing the stuff that’s helped you, so it helps us. This show has grown from a “7 or 8” to a “9.5.” BTW, congrats on a decade of freedom!

  9. Sweet. Thanks, Tom. So what do we need to do to get that last .5 of a point? ;)