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Jay Shetty PodcastJay Shetty Podcast

UNLOCK Financial Freedom: #1 Career Mistake Women Make (Men NEVER Do This!)

Today, Jay sits down with serial entrepreneur, investor, and powerhouse mom of four, Kim Perell. Known for building her first company from her kitchen table and later selling one for $235 million, Kim shares the raw, behind-the-scenes truth of what it takes to turn failure into fortune. The conversation centers around Kim’s latest book, Mistakes That Made Me a Millionaire, and offers a heartfelt blueprint for anyone feeling stuck, unfulfilled, or uncertain about their next move. Jay and Kim explore why perfectionism can sabotage progress, how fear often masks itself as procrastination, and why waiting to feel “fully qualified” often leads to missed opportunities. Kim introduces her 70% rule: a concept that encourages action over hesitation and reveals how taking small, imperfect steps helped her overcome self-doubt and build extraordinary businesses. The two also dive into the power of mentorship, the emotional toll of toxic relationships, and why surrounding yourself with the right people is crucial not just for professional growth, but for personal evolution. In this interview, you'll learn: How to Start a Business Before You Feel Ready How to Use the 70% Rule to Make Bold Decisions How to Find the Right Mentor and Build a Real Relationship How to Stand Out When Pitching Yourself How to Know When It’s Time to Pivot Your Business How to Build a Winning Team Without Doing Everything Yourself How to Audit Your Inner Circle for Growth and Clarity Making mistakes doesn’t mean you’ve failed, it means you’re showing up, learning, and trying something new. No success story is smooth or simple, but all of them prove that progress is always possible. With Love and Gratitude, Jay Shetty Join over 750,000 people to receive my most transformative wisdom directly in your inbox every single week with my free newsletter. Subscribe here. What We Discuss: 00:00 Intro 02:57 How to Get Unstuck and Move Forward 04:17 When It’s Time to Pivot Your Career 05:50 Is Regret More Powerful Than Fear? 08:06 You Don’t Need To Be 100% Ready To Start 09:52 Are You Ever Really Ready? 11:29 Dream Big, But Start Where You Are 13:09 The Power of Believing in Your Vision 15:24 Be Delusionally Confident 16:29 How Mistakes Help You Iterate and Improve 18:30 How to Silence the People Who Doubt You 22:15 Teaching Kids to Embrace Failure 23:20 Rejection as Redirection 26:02 The Difference Between Innovating and Iterating 29:14 Build a Support System That Elevates You 31:51 How to Find Mentors Who Truly Guide You 33:55 Why Asking for Help Accelerates Growth 34:44 How Books Can Mentor You Too 38:21 The Four People Every Entrepreneur Needs 39:35 Why You Need the Right Peers Around You 41:58 Should You Start a Business with Family? 44:00 How to Audit Your Inner Circle 46:02 How Toxic People Drain Your Energy and Money 47:17 The Power of Taking Initiative 48:56 Don’t Let Your Past Limit Someone Else’s Future 51:19 How to Lead and Manage People Effectively 53:17 What Actually Gets You Hired Today? 57:51 Going the Extra Mile Sets You Apart 01:00:01 The Biggest Mistake Is Not Asking 01:04:03 Why So Many of Us Feel Unqualified 01:07:07 Pivoting Is the Secret to Success 01:10:13 How to Know When It’s Time to Pivot 01:11:53 Kim on Final Five Episode Resources: https://kimperell.com/ https://www.instagram.com/kimperell/ https://www.facebook.com/kimperell/ https://www.youtube.com/c/KimPerell https://www.linkedin.com/in/kimperell/ https://x.com/kimperell https://www.tiktok.com/@kimperell https://www.instagram.com/jayshetty https://www.facebook.com/jayshetty/ https://x.com/jayshetty https://www.linkedin.com/in/shettyjay/ https://www.youtube.com/@JayShettyPodcast http://jayshetty.me

Kim PerellguestJay Shettycameo
Aug 7, 20251h 15mWatch on YouTube ↗

At a glance

WHAT IT’S REALLY ABOUT

Overcome fear, ask for help, and pivot toward financial freedom

  1. Kim Perell argues that people stay stuck because fear of failure and rejection outweighs action, and she recommends using “regret vs. fear” to decide when to move forward.
  2. They emphasize the “70% rule”: start when you’re mostly ready, ship a minimum viable version, gather feedback, and iterate rather than waiting for perfection.
  3. Perell distinguishes productive confidence from empty optimism by stressing that ideas are common but execution—sales, customer proof, and measurable progress—is what wins.
  4. A recurring theme is that success is not solo: mentors, peers, supportive relationships, and the right team accelerate growth, while toxic circles drain energy and limit financial outcomes.
  5. They frame pivoting as normal and necessary—most businesses change models—and recommend using product-market-fit and revenue signals to decide when to adapt.

IDEAS WORTH REMEMBERING

5 ideas

Use a one-year vision to get unstuck.

Perell’s “exit ramp strategy” starts with defining where you want to be one year from today, then working backward into small, concrete steps so change feels manageable.

Let regret—not fear—drive decisive action.

When fear is paralyzing, compare the pain of trying and failing with the deeper pain of staying in the same situation; they argue long-term regret is often the stronger motivator.

Start at 70% readiness or you’ll miss the window.

Perell applies a Marine Corps-inspired rule: if you wait for 100% certainty, opportunities pass; 70% typically means you’re making “edge-perfecting” excuses instead of testing reality.

Build the smallest proof, then listen to the market.

Whether it’s a blog post before a book or a prototype before a full product, they recommend shipping a minimal version to get real feedback—because customer willingness to pay separates a business from a hobby.

Delusional confidence only works when paired with execution.

They note many people repeat “great idea” for months; what stands out is someone who already started—showing traction, learning, and iteration rather than just belief.

WORDS WORTH SAVING

5 quotes

But I always think back to, will I regret it more than d- not doing it?

— Kim Perell

I had heard this Marine Corps rule of thumb, which is the 70% rule. And so it said if you're 70% ready, you should take action. If you're 100% ready, you've already missed the opportunity.

— Kim Perell

But your confidence in your idea has to be greater than anyone else's doubt. That is the bottom line.

— Kim Perell

Ideas are a dime a dozen. Execution's everything.

— Kim Perell

So every year I look at all the people in my business, all the people in my personal life that I'm spending time with, and if they energize and inspire me and encourage me to achieve my dreams, like, I put a plus... If they are negative, critical, tell me why it's not gonna work, I put a minus, and then I actively audit them out.

— Kim Perell

Exit-ramp strategy for leaving dead-end jobsRegret vs. fear decision-making70% readiness rule and minimum viable productExecution vs. ideas; sales and customer validationHandling rejection and “go for the no”Mentors, peers, and asking for helpAuditing toxic relationships and pivoting strategiesHiring signals: metrics, initiative, and reference checks

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