Always see your mistakes as a learning experience.
Eldon Mascoll is a Toronto based entrepreneur, having founded numerous media companies throughout his career. Eldon currently uses his media experience to develop multi-platform projects at Freedom Park Media Group, a Toronto boutique media company which he founded and where he serves as executive producer.
Where did the idea for your company come from?
The idea for Freedom Park Media Group came from my previous experience working for broadcasters and production companies and my realization that although the media landscape has changed with digital distribution, the art of storytelling remains the same.
What does your typical day look like and how do you make it productive?
I start my days early and end my days late. I try to prioritize my tasks on paper everyday and I try to make realistic goals that I can achieve daily.
How do you bring ideas to life?
That really starts with me sourcing the key insight – the core of an idea. And then testing it out informally to see if it resonates with people. Freedom Park Media Group is in the business of storytelling, whether it’s for brands or entertainment and this requires development. But if you can’t identify the driving force that makes people connect to a story, no matter how much money you throw at it, no matter who you attach to it, it just won’t work.
What’s one trend that excites you?
I like the merging of creativity and technology and you really see that evidenced with augmented reality and virtual reality. I’m very much into augmented reality right now.
What is one habit of yours that makes you more productive as an entrepreneur?
Being able to compartmentalize tasks.
What advice would you give your younger self?
Don’t be afraid of the big guys.
Tell us something that’s true that almost nobody agrees with you on.
Sometimes the customer is wrong.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I write and then I rewrite.
What is one strategy that has helped you grow your business?
I’ve looked at what my business is defined as and what others in the industry are doing. And then I work with my team to seek alternative sources for revenue, for talent, for strategic partnerships, that others might have overlooked.
What is one failure you had as an entrepreneur, and how did you overcome it?
The one big failure I had as entrepreneur was when I was in the distribution business we paid upfront when we should have paid on the back end. And I didn’t have the knowledge at that time to realize that you should always research best business practices that aren’t necessarily found in the manual. You need to network with people who make the same types of deals before making your own.
What is one business idea that you’re willing to give away to our readers?
The cannabis industry is exploding right now. Cannabis tourism is a new business for budding entrepreneurs (no pun intended).
What is the best $100 you recently spent? What and why?
I bought a Scooch iphone case for my iphone X and it has a stand that pops out so it allows me to be hands-free and still look at the screen.
What is one piece of software or a web service that helps you be productive?
The Tiny Scanner app. It allows me to scan documents from my phone and send from my phone and its’ features make it better than just taking a photo of the document.
What is the one book that you recommend our community should read and why?
I would say the E-Myth by Michael Gerber. It has practical advice that all entrepreneurs can relate to.
What is your favorite quote?
My favorite quote is “If you want something you’ve never had before, you have to be prepared to do something you’ve never done before.” And that quote comes from my mother but she was paraphrasing Thomas Jefferson.
- Do your research at every step of a project
- Learn from what others in your field are doing
- Always see your mistakes as a learning experience