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The Gold Medal Mindset with Shannon Miller

It's my job to get inside the heads of successful investors and entrepreneurs and find out the mindset and the specific actions they took to create that success. In this show, we're talking with Shannon Miller, the seven-time Olympic medalist. She is a firehouse. She is amazing.

In this show, you're going to understand what it was like to be there in the Georgia Dome, 40,000 people tuning in, the rest of the nation tuning in via TV, millions of people to watch the US Olympic Gymnastics team beat the Russians for the very first time. It's one of the things that we open with.

We're also going to talk about and you're going to discover Shannon's empire. She has become very entrepreneurial with all the deal she's put together and so you're going to understand how she was able to reinvent. If you're looking for some reinvention, this is definitely a great show for that.

Also, the mentality. She calls it the Gold Medal Mindset. How do you take that mindset into life and into business? It’s this thinking of falling forward fast and forward motion as she calls it. Very powerful lessons are packed in this show.

Dustin
It's 1996, Atlanta, the entire nation is tuned into you, the Magnificent Seven, and the US' opportunity to beat the Russians for the very first time. Shannon, at this moment, do you realize the weight of what's taking place?
Shannon
No, not at all. You just brought me right back to that moment. I can close my eyes and I can picture walking into the Georgia Dome with 40,000 screaming people, flashbulbs going off, this sea of red, white and blue as you came through the curtains and the audience chanting, “USA.” For us, it was just that moment in time where we realized all of that love and support, the fact that we get to compete at the Olympic Games on home soil. In the back of our minds, there was that, "We need to get that gold medal. We need to do that for the US." You try not to think that far ahead. You try to think the next step. The first event, let's get up. Let's attack it. Next event, next event. The final event, don't let your guard down, always run through the tape. You don't give up before the buzzer goes off and that's what we tried to work on and just make sure that we were doing everything that we could and not leaving anything on the floor.
Dustin
I say mere mortals would cave under this pressure. Did you have any strategies or did they prep you? Do you have anything that you can share? We might not be at the Georgia Dome in front of 40,000 people and millions on national TV, but with the weight of the world, are there any strategies for that?
Shannon
It's always important to keep things in perspective. For me, that's what always helped me during competition. It was the understanding that gymnastics is not life. Life is life. There are going to be good days and there are going to be difficult days. Let's train and make the most of it. For me, what that means is committing myself to excellence along the way. It's not about that 30-second routine at the end of a ten-year training commitment. I always tell young athletes, and this goes for business and in life, the Olympic Gold medal is not won on the day of competition. It is won with the years of hard work and preparation that happened before you even stepped on the floor. That's what we have to remember. The things we do at this moment, no matter how small or how big it seems, it could be answering that 300 emails that you have on your list, whatever that is, it matters today. 
What you do today matters for tomorrow. It matters for five or ten years down the road. I can tell you doing ten extra sit-ups each day, six days a week for ten years, for me, I know that's what kept me on the balance beam when I needed it most. While some kids might skip a few or just do exactly what was asked, my coach always talked about how I did a little bit more. That's the work ethic and the thought process that we need to have in every aspect of our lives, especially in business. How can I do just a little bit more today so that when that moment comes, I am more prepared than ever? No matter what happens, I know I did everything I could possibly do to succeed.
Dustin
It sounds like you were focused, at the moment. Some people go to that focus zone, other people escape. Did you ever catch your mind escaping or were you focusing on routines and just focusing on the next moment?
Shannon
I was focused. For me as an athlete, I was never the strongest or most powerful or most flexible. I had to work hard. I always say I was the workhorse. I could outwork anyone. Beyond that, I was able to have that mental ability that you need in life and in sports. It is something that you can learn and you can hone in on. It's something that you have to practice constantly. I would always practice blocking the audience out, allowing them in when I needed a boost of energy. For example on balance beam, you don't want to hear and see everything that's going on. You want to completely focus on what you're doing. On floor exercise, when you come to your last tumbling pass, you're winded and your legs are about to give out on you, you might want that audience cheering for you. Even if they're cheering for someone else on some other event, I'm thinking and I'm making myself believe that they're cheering for me. I'm soaking it all in. I'm using it to my advantage. The mind is an amazing thing and if you can get it to work for you, then there's almost nothing you can't accomplish. I'm a big believer in that.
Dustin
To have such a historic accomplishment of what you did, oftentimes people just see you on the podium, you with the medals. They don't realize the backstory. I've come to understand that in life, there's always a set of circumstances or series of events that lead up to the moment. Was there anything preventing you potentially from competing or from participating in this historic moment?
Shannon
I always had the worst time with injuries, the worst timing. People remember me most probably for the 1996 Olympics because it was in Atlanta. It was so historic with the team and balance beam. My first Olympics was in 1992 and I was fifteen years old. I was very young. I was not expected to make the team. About ten weeks prior to the Olympic trials that year, I fell off on uneven bars and I broke and dislocated my elbow, which for most everyone, they completely wrote me off, "She's done. That one's out. We don't have to worry about her." At that moment, I was crushed. That night I went into surgery to have a screw put in to hold the bones together. I remember being wheeled out in a wheelchair the next morning and my coach met me at the hospital doors. It was that moment he could have said so many different things, "I'm so sorry. These things happen and it just wasn't the right timing. Maybe in another four years or maybe for World Championships.” He didn't say any of that. He looked me straight in the eye and he said, "I guess we have some work to do. I'll see you in the gym tomorrow."
It was that matter of fact, "Yes, you're going to come back. You're going to have to work harder. You're going to get there." It was that matter of fact attitude that it made me believe in myself. This is such an essential lesson that I take with me in so many things that I do even today. I learned that throughout that time, I couldn't work the way other athletes were working. I didn't have an arm to use, so I wasn't doing the many routines that they were all training. I was doing my stretching. I was doing conditioning. Those were the things that I could work on. What I realized was I had been doing a lot of routines, but I had not been working on my weaknesses, which were strength and flexibility. All of a sudden, I had time to focus on that. I became a much more well-rounded athlete and gymnast than I've ever been before. I was also hungrier than ever because no athlete wants to sit on the sidelines and watch others get better. It was honestly that injury that helped me get on the team. I ended up winning Olympic trials, found a place on the team and came home with five medals that summer. It was an amazing experience, but I will never forget coming back to that somewhat failure to realize that was probably a turning point in my career.
Dustin
I believe life gives us these opportunities and at the moment it's like, "Oh my goodness." When you look back and you go through it, I feel you. I felt like you've worked on different things that contributed to your success later. Do you have any other instances where this has occurred in your business life or in your personal life where an unseemingly crazy situation actually turned out to be a great thing?
Shannon
I don't know about a great thing. I will say certainly in business, one particular event happened. About six months after launching my business, I was diagnosed with ovarian cancer. Talk about a blow in every possible way you could imagine. Our son at the time was about fourteen months old. The business, frankly, was the last thing I thought about, but it was part of it. What's going to happen to that? If I even make it through, will it still be there? Will I be able to do what I love? That came five steps after thinking, “Am I going to be able to raise my child?” That time frame for me, that journey helped me understand priorities. I always felt like I was pretty good at priorities and organization and all of these things. That diagnosis took it to a completely different level of truly understanding my priorities in life and in business. 
It’s understanding that you have to just live every day to the max and appreciate every opportunity that you have because you just don't know what's going to happen. For me, it was not a “great” thing, but in some ways a blessing in disguise. I choose to live my life in a way that when bad things happen, I choose to try to find something positive in there. There are probably some areas where that's just not possible but for the most part, we can always find something that's positive in this. For me, that was understanding priorities in a very different way or at least in an accelerated way than I ever had before.
Dustin
I come to understand that folks that get diagnosed with ovarian cancer, less than 50% survive. How did you discover this and what advice can you give to folks that can be mindful that anything can happen?
Shannon
For me, it's ironic in a way. In July of 2010, I had just launched my company devoted to women's health and wellness. Our mission is to help women make their health a priority, whether that's fitness, nutrition or getting to the doctor. Whatever that means to a particular woman, make your health a priority. It was that fall that I was hosting a radio show every weekend talking to physicians, nurses and experts in the field of health. We were doing a lot of cancer awareness. We were talking about early detection, getting to your doctor's appointments, doing the self-exams and all of these things. It was at that time that I was so overwhelmed, so overworked. The holidays were coming up. I had programs and partnerships. I was going crazy and I had a doctor's appointment coming up. I thought, "I can push it off just a couple of months. I could push it off to the New Year. It'll be fine. I feel fine." I called up my doctor's office and I was put on hold immediately.
During that time, I felt so much guilt for not walking the walk and not doing the things that I was telling all of these other women to do. When the receptionist came back on the line, I asked for the first available appointment, "Could I get on the cancellation list? I'll figure it out, I'll get there." She said, "There was a cancellation on the other line. Can you come over now?" I did and it was that morning when they discovered a baseball-size tumor on my left ovary. I did not think at the time that I had had any symptoms. With ovarian cancer, one of the reasons why survival rate is too low is because it is caught at a later stage. There is no test for ovarian cancer and the symptoms are so seemingly benign. Stomachaches and sudden weight gain or loss, bloating, those types of things that women don't think twice about that. I told my doctor I felt fine, even though I had been feeling three of the four primary symptoms of ovarian cancer. I had no idea how critical those symptoms were.  
My message not only to myself but to other women is to truly take time. Listen to your body, write these things down. If something doesn't feel right, write it down so that when you do go into your doctor's office, you have a log and you know that, "I had stomachaches three out of the last sixteen days." Whatever that is, we do have to make our health a priority. I now understand that importance in a way that is very personal. It's only helped with my company and with the message that we spread.
Dustin
You said other people may not have high expectations for you, but you always had high expectations. Why don't you think people had high expectations for you?
Shannon
When that quote came out of my mouth I was maybe fourteen or fifteen, maybe sixteen years old. Granted at the time, I was so shy I barely spoke up to reporters. I mostly nodded my answers. It's crazy that I would have even said that. But I think it’s true. I was so quiet. I was that wallflower. I don't know that anyone expected of me great things. I was this scrappy little girl from Oklahoma. As my coach says, “This little girl from Oklahoma with bent knees and big hair,” and I wasn't very flexible, wasn't very strong and certainly wasn't the most talented girl in the gym, but I'd work harder than anyone else. Just my mentality and what my parents instilled in me was this understanding that it doesn't matter where you're from, if you work hard you can do anything. 
All of these other things that people like to talk about or even what you feel inside, a lot of times we talk ourselves out of success because, "No one I know has done that before. Maybe it hasn't ever been done. Maybe it's not the right time. It's not my time. It's too hard or too big of a goal." Instead, why don't we think of what could happen? Someone's got to be the first. My parents instilled in me this idea that, "Why don't you just go do it? If you want to do it, go to the gym and work hard every single day and see if you get there. See what happens." For me, it was just this understanding and maybe identifying with others that maybe aren't expected to do great things. But great things are possible within all of us.
Dustin
I'm very curious about this because from what I understand, your mother was in banking and your father was a professor. They instilled this crazy work ethic or seeds of that and then you own that. Also, this entrepreneurial thing that has led to all the things that you're up to. What did they teach you a little bit more about mindset and then entrepreneurship?
Shannon
Some of it is just me as my parents would say. I've always been extremely competitive, sometimes in a good way and sometimes maybe not. I was always competitive with myself, not so much with others. I’m competitive to do the best routine that I can do. My family did not enjoy so much playing Monopoly with me. Not that I was so good at it but I would play for as long as it took. I could play for twelve hours straight and just let everyone else drop out because they got tired. I could wear them down. My parents, they showed me by example, they led by example. We were never sitting down necessarily and talking about mindset or different things. They showed me. Even work ethic, I watched them work very hard at what they do. They raised three kids and it was just very matter of fact, "This is what you do. You work hard and get it done. You do the very best you can, no matter how big or small the task. You reach out and you help others." 
As a family, we couldn't always write a check but we could give of our time and our talent. It's just growing up in that environment. That certainly bleeds over into everything that you do. My parents made sure that we understood education came first. “That's great that you want to do this Olympic thing and you can work hard and we'll support you, but how did you do in your math test?” They knew that gymnastics could be over at any point. I could decide I didn't want to do it or I might get injured. You might get the flu the day of a big competition and then you don't make the cut. They knew that education was where I needed to land at whatever point. That was what’s going to give me a future. From the get-go there was that understanding of, “This comes first. Family priorities come first as well. This gymnastics thing, we'll support you but understand your priorities."
Dustin
Here at WealthFit, we're all about helping people with finances and getting to retirement earlier. What I find fascinating is we interview athletes that are in a very similar situation that you are, but they usually even retire in their 30s, maybe 40s, if they're lucky. You retired at nineteen. At nineteen, you've got accolades, you're in the Hall of Fame, you've got seven Olympic medals. It's just amazing. At nineteen, you're starting over, if you call it that. What vision did you see for yourself? What were you thinking your next step was going to be?
Shannon
Honestly, I didn't know, and this is what happens to a lot of professional athletes, a lot of Olympic athletes, especially those that retire at such a young age. Nineteen is a crazy young age for retiring from something you've been doing most of your lifetime. For me, I didn't truly understand what it meant to have all these accolades. I was very proud of my accomplishments but at the same time, I have a mentality of forward motion. Sometimes it's to my detriment. I've tried to slow down and smell the roses a bit more, but I was always onto the next thing. Win five medals at the Olympic Games, I was back in the gym three days later because I had more skills to learn and more routines I wanted to do. 
After the '96 Olympics, I retired. For me, I was very lucky to have college. I had already started taking some of my college courses while training for the Games. I just went back and kept on going with education. The difficult portion is you don't have the structure that you have with training. I didn't have to be anywhere or do anything. I wasn't getting the physical activity. I wasn't getting the mental activity. I didn't have my family there. Not just my actual family but my gymnastics family that I was used to training with six or seven hours a day.
All of the sudden, a lot of your life structure is gone, and you have to rebuild that. It took me several years to understand who is Shannon Miller without gymnastics? What do I want to do with the rest of my life? As I continued on with my college courses, I decided business and marketing were things that I could get my hands around. I was already doing so much with that and trying to handle agents and different things that I was doing as far as endorsements and everything else. You hear these devastating stories of athletes that lose everything because they don't know how to handle it. I didn't want to fall in that category. I was nervous about that and I thought, "I'm going to figure out business if nothing else, just for me personally." Then I found that I enjoyed it and I love the marketing aspect. Towards the end of my undergrad, I decided to stay on for two more years for an entrepreneurship program. That was amazing. It was like getting your MBA. It was fabulous.
After that two-year program, I got my entrepreneurship degree. During that time, it was one of the last classes that I had, which was a business law class when I realized I knew so little about business law. I decided, "Better go to law school." I thought I'll take the LSAT and that will tell me whether or not I should try to apply somewhere. I took the LSAT and did pretty well. I applied and ended up going to Boston College and that was, for me, a tremendous move. I went in with the idea that I wanted to start a business. I didn't know what I was going to start for the business but that's what I wanted to do. Maybe there were a couple semesters in there where I thought I would practice but for the most part, I had an eye toward having a company that I was passionate about, got up every day, and loved working. That's what I found.
Dustin
I find that fascinating. I'm a big marketing entrepreneurship guy myself. You did a great foundation and into the WealthFit Nation considering something. That's the perfect setup for folks that want to go the educational path. It’s learning about entrepreneurship and learning the legal chops there. Has that saved you in business negotiations or crazy occurrences along the way?
Shannon
At nineteen, I was already signing contracts. For the most part, I didn't always know what they meant. You go to law school and you realize all the things you don't know and how one little twist of a word or one phrase can be something completely different than what you thought it was. Instead of glossing over a contract, I read for every detailed word. I liked contract law, but it's more than that. It's a way you think about things, the way you decipher. For me, that was a tremendous learning experience. I'm reading contracts every single day. It's something I actually enjoy, It’s a skill I utilize every single day. For me, it's all about knowing what I don't know and when I need to ask questions of someone who knows better and can give me more direction. That's critical in what I do.
Dustin
I'd love to talk about the empire that you're building. Maybe that's not the word that you would use, but you’ve got a lot of stuff going on. I want the WealthFit Nation to understand what you're up to. I would love for you to give advice for those that maybe are sitting on the sidelines that want to take that step to open their business and what you have for them.
Shannon
I have been so proud of my company and what we're about. We’re about helping women make their health a priority. We have grown in such an odd way. When you get into the health industry, there are so many tentacles. It can be very easy to get lost or go down a certain path or get too buried in what you do. We've had to go back a couple of times and each year, we go back to the drawing board and say, "Where are we truly focused?" It's easy to lose that focus. One of things that I learned along the way is the importance of understanding that it's okay to say no. That was hard because I am a people-pleaser. I don’t want to disappoint people. I don't want to turn things down. I enjoy working. 
I remember at one point, my husband who also owns a business, noticed I was running around crazy. I was flying here and there doing all these appearances, speeches and meetings. He said, "You're going to run yourself ragged. You have to start picking and choosing what you're going to focus on." I said, "I like all of it." He said, "You need to look at your business and find your focus. Write down your focus. If something falls outside of that focus, it's okay to say no. You've got to practice that and you've got to get comfortable with it." It has helped me prioritize because I can get pulled in so many different directions by virtue of my past career as well as my current career. As a mother and cancer survivor, you start adding all these other layers. I needed to own our focus and make sure that we focus on what we do best.
There's also the gymnastics portion. That's separate from our company because I'm an analyst and commentator in the sports world. We do have some product lines in that area, but that's almost separate for us than the women's health. Then we have a focus on cancer awareness because that's something that's critically important to me which is a primary focus for my company. That's how I categorize them and for us, that's through our website, through our blogs, through our different product lines and primarily through our partnerships with other companies that also prioritize women's health.
Dustin
I'm curious as to what's got you excited. You've got a lot going on. What's something that you tell other people, other business friends I would say, that's got you excited that you're working on? Any special projects?
Shannon
This is kind of the “elevator speech” question. One of the hardest things for me is the elevator speech. I have to quickly figure out: Who are you talking to you? Are you talking to the gymnast or the health advocate or the cancer survivor? For me, I wear so many different hats. I have to switch gears so fast and ultimately, that's what I love. Aside from my typical business initiatives, I recently I played at a golf Pro-am with regards to child safety (Child Comprehensive Abuse Prevention Education.) The Monique Burr Foundation is a board that I volunteer on. It doesn't have anything to do with my company but, as a mom, child safety is something I'm passionate about. With regard to work, I'm getting ready for speeches with regard to the Gold Medal Mindset, motivation, taking care of your health. That’s a large portion of what I do. Certainly, the cancer journey is part of that. What I'm most excited about is going out and speaking to people. Whether it's a big speech for a big audience or a one-on-one at a specific meeting, I love getting out and learning, talking, mentoring or being mentored.
Dustin
You're such a high performer in athletics and in running all the different ventures that you've got going on. Any special routines that you have to mentally prepare yourself or just to balance everything that's going on in the world?
Shannon
What I've learned about myself is it's the difference between an introvert and extrovert. An extrovert gains energy by being around people and doing things. I gain energy by just sitting in a quiet room and thinking about things, pacing, taking that me-time. I've learned to find those pockets of time where I can regroup because a lot of what I do is so public and is very much out there and being energized. When I need to regroup, I've got to sit at home or in my hotel room and zone out or I need to go work out and just put my earbuds in and focus on HGTV. When I'm home, I spend time playing kickball with our kids out in the backyard. I understand now more than ever, especially after my cancer journey, the importance of finding those pockets of time throughout each day. 
Some days it's five minutes. Other days I can find a little bit longer pockets of time where I can regroup, and I need that. It makes me more energized, more productive throughout the day. It makes me more disciplined when I am sitting down to work because I don't have a lot of this nervous energy. I don't have fifteen other things I'm thinking about because I've already done that. That's what I've learned about myself. We cannot take a cookie-cutter approach to life. That goes for my business as well. We try to tell women, "Don't just do what your neighbor does or what you see on TV, in a magazine, on a blog, on Instagram that works for someone else. Think about what works for YOU and YOUR life and allows you to be successful in what you do.”
Dustin
You're a superwoman. Do you ever experience doubt or fear in your life? If so, how do you overcome that?
Shannon
I do. I have to work hard to keep the negative out. I try and I strive to be a very positive person with a positive mentality and a positive outlook. That's not necessarily all that natural to me. I'd naturally go to doubt. I do tend to go to fear, especially as a mother. All of a sudden, you see danger everywhere you go. I speak quite a lot now, and I love it. But it wasn’t always that way. I still get nervous, but I understand why. What I've learned over the years, just like in gymnastics, the nerves and the fear to me are not about being scared to do something. It's about understanding that I want to do a good job. Someone has hired me or asked me to do something. There may be millions of people watching or just a few. But I want to do a good job. If there's ever a time that comes where I'm not nervous or scared or I don't have a few doubts, then I'm not doing enough. I'm not challenging myself enough. 
I always talk about failure and the importance of failure in our lives. I tell this to my kids all the time. Even my son who was doing math the other night, he said, "I got it wrong." I said, "Sweetie, if you don't get any of them wrong, you're not in the right math class. You have to challenge yourself." That's true. If we're not failing, at least some of the time, we're not doing enough. We're not trying hard enough. We're not striving for more. We're not challenging ourselves in a way that we should be.
Dustin
What do you want your legacy to be?
Shannon
I want to be a good mom. I love what I do with business. I loved my gymnastics career. I'm so thankful and appreciative for all of the accolades and everything that I've achieved. But at the end of the day, I have two young children. I want to create amazing human beings. I know that doesn't fall all on me, but I think as a mom, I feel like it does. I just want to do a good job. My parents did a pretty good job. I'm so thankful to them and I want to do a good job as a parent.
Dustin
Thank you, big time, for being on the show. I appreciate you sharing your wisdom, your gold medal mindset and what you're up to in the world. If folks want to keep tabs on what you're up to, where can they find out more information?
Shannon
My website is ShannonMiller.com. I'm all over social media on Twitter, Instagram and Pinterest, @ShannonMiller96. My Facebook is @ShannonMillerOfficial.
Dustin
Thanks again. I appreciate you being on the show.
Shannon
Thank you.

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