Joel Steele
Joel Steele is a financial expert, entrepreneur and co-owner of a successful financial firm with more than 20 years of experience helping Individuals build wealth and well-being. Beyond his professional achievements, he values his roles as husband, father and mentor above all else.
Steele’s journey — from massive setbacks to personal reinvention and professional success— fuels his mission to inspire others. He is part of the ownership group of the Grand Rapids Gold, the G-League affiliate of the 2023 NBA Champion Denver Nuggets, and has spoken to thousands nationwide on topics ranging from fitness to finance to personal growth.
Joel, you are an entrepreneur and investor of leading sporting brands… Tell us more about your incredible business journey.
There were a few things I knew as a kid: I always wanted to have my own business, I wanted to be successful, and I wanted to get closer to the game as far as sports, basketball in particular. I’ve kept my eyes set on these things through all of the ups and downs I encountered. Fortunately, all of them came to fruition. I think the biggest reasons why are two-fold: I was focused on specific outcomes, and I worked hard and consistently each day to turn them from ideas and dreams to realities. I’ve failed and succeeded in multiple industries. Failure taught me more than success. Failure put my back so far up against the wall that I felt that I had no choice but to lunge off of it to become successful. A lot of people view failure as a dead-end, but it can be a blessing in disguise if you extract value and meaning out of it.
You have been open about the many setbacks that you have encountered. Can you share some of the lessons you have learnt from your experiences?
Don’t ever quit on yourself. It’s ok to fail, but not to be a failure. Putting one foot in front of the other toward your desired destination is underrated. A journey of a thousand miles begins with a single step. In that regard, each step, each day, is progress. Also, believing to achieve is a game-changer. If you can convince yourself that you’re unstoppable and can achieve anything, then you can, and you will! Don’t be your own worst enemy. Delete doubt and discard excuses. Set your sights on where you want to go and don’t lose your focus. My formula for success: Step 1: Figure out what needs to be done. Step 2: Go out and do it!
How did you keep motivated during the tough times?
I recalled and focused on the vision of a happy and successful life I envisioned since I was a kid. When my restaurant business failed, my business dream died. My personal dream was still alive. I just had to find a new industry and a new way to get there. Also, I’ve always been extremely honest with myself. I knew I had to be giving my all, my true all, to feel good about myself. In those tough times, I knew there was a massive and treacherous mountain to climb. I didn’t really want to do it, but I knew I had to, or I’d hate myself if I didn’t at least try.
What would you say is your greatest business achievement?
My greatest business achievement is jumping directly into the financial services industry while my restaurant business was dying a fiery and spectacular death. I quickly transitioned from a failed business to a successful one within a couple of months. Instead of spending a lot of time at the bottom, I went right to work to try to get to the top of my new profession. It paid off in a major way.
Which entrepreneurs do you most admire, and why?
Howard Schultz of Starbucks always stands out when I think of inspirational business leaders. He didn’t just transform a commodity and industry; he changed how people live and work. The same goes for Jeff Bezos and Elon Musk. What they did professionally is beyond impressive. I also have a huge amount of respect and admiration for people who find success in a totally different career. Some examples are Dwayne Johnson, Mark Wahlberg, and Magic Johnson. People who started a business or transformed one always get a lot of respect from me because I know how hard it is.
Tell us more about your new book, ‘Life Switch: How to Experience the Power of Living ON’…
About ten years ago, the idea to download my life story hit me like a tonne of bricks. The realisation was that there was much more value to be extracted from my journey for others. The more I thought about how so many other people could live a better version of their own lives with fewer detours, the more motivated I became to bring the book to life. I spent much of my life living “off”. Now, I’m living “on” in a major way. I’m so excited to get up each day and seize the present to live the best possible version of my life. I want that same feeling for other people. The world is a much better place when people are living with passion and purpose. They’re happier, nicer and more considerate…kind of like how they are during the holiday season.
What made you decide to write this book now?
The world needs it now. The best way to get the most out of this world is to get the most out of yourself. That starts with taking a crash course on learning who you really are and how you’re wired. People need to hear these messages. I planned to wait to release the book, but there’s no time like the present. I’ve never felt so fulfilled in my life sharing the stories, lessons, and experiences in Life Switch.
What do you hope readers will gain from the book?
I believe readers will gain tremendous inspiration to set their sights on big goals and dreams and work towards making them realities. I made sure the book was inspiring but also entertaining. There are no graphs, charts, or even footnotes. Life Switch is a way for people to learn how to become the best versions of themselves. Every reader will take away different things. This is the kind of book I wish I had read when I was younger to help give me clear direction. I took the long, hard road. I hope my book helps others take an easier route.
How did you find the process of writing the book and revisiting your past experiences?
Writing a book is a tonne of work. Passion fuelled me. I focused on the end goal of creating something that would live on forever to help people around the world. I had no idea my life story and all I wanted to share would be so lengthy. I had to cut down about 25% of the original book in the end, but it came out amazing. Revisiting some of my experiences to share the lessons was tough at times. Even though my restaurant business failed twenty years prior, it was the first time I really put myself back there with both feet. It was a little emotional. That’s what makes the advice so valuable, though. Readers will feel like they were going through it with me.
You have stated that you will make a generous donation to charity if book sales reach a million… Tell us more!
I’m super excited about this. If Life Switch sells 1 million copies, I’m going to personally give away $1 million to charity. People can vote on my website, bookjoelsteele.com, for their favourite charities. The top ten will each get $100,000. I’ve never been so excited to write out big cheques in my life. All people need to do is buy the book, and they become part of this mission to help a lot of people who need it. It’s never been done before!
What top tips can you provide anyone in the process of starting a business?
If you’re planning to start a business, make sure you’re doing it out of passion, not just to make money. Be realistic. Much of what business owners have to do is not glamorous. You have to realise you’ll be putting in countless hours every single day to make it work. Have a good team in your business and around you. Put together a board of advisors to bounce ideas off of. Do your research. Competition is fierce everywhere. If you want to start a business, there has to be a clear need and want for what you have to offer. Start before you’re ready. Don’t wait to hit the “go” button until the perfect time. It doesn’t exist. Ramp up, prepare and be ready for opportunity. Don’t be afraid to ask for help. Turn to people who have done what you want to do. There’s no need to reinvent the wheel.
How do you like to unwind after a busy day?
Spending time with my family helps melt away my stress. We try to have dinner almost every night together. I like being around kids. They don’t carry the stress and worry adults do. They enjoy the simple pleasures of life more. I also like to work out to beat the stress. When I’m exhausted after a long work day, I go beat myself up physically. It feels good, and it’s very healthy. Plus, it brings me back mentally and keeps me sharp all around.
You are a self-confessed fitness fanatic! How important is a healthy mind and body for business?
It’s huge. When I’m in my best physical shape, I feel I can take on any challenge. I always like to be ready for anything. My theory is if you can’t take care of the small space your body occupies in the world, how are you going to manage a business, other people and external conditions? Train yourself to be physically and mentally strong. It will translate into other aspects of your life. Also, get some sleep. The newest iPhone is useless if it’s not charged. You’re going to be much more productive if you’re fully charged. Getting 7-8 hours of sleep a night will help keep you mentally sharp and ready for whatever lies ahead.
If you could own any business, what would it be, and why?
I’d love to own a movie studio. I’ve always enjoyed seeing good stories told well when brought to life. A lot of movies have provided inspiration in my life. It would be cool to help make one of these some day. Movies often are based on good books, so I can’t help thinking more about this lately. How cool would that be if Life Switch, the movie, hit theatres some day?
Lastly, if you weren’t an entrepreneur, what would you be doing?
I’d probably be getting fired from one job after another. I’ve always marched to the beat of my own drum and probably wouldn’t be a good employee. I’m always looking to do tasks more effectively and efficiently. I don’t have the time and patience for bureaucracy. A lot of companies just want you to do things their way. No thanks!