Hustlenomics #17 The Secrets of online Income

Hustlenomics #17 The Secrets of online Income

If you don’t want to read it, you can watch this video.

Making money online is fucking hard. If you’re really interested in making money online, I want you to listen to me. I’m going to tell you exactly what you need to do. Work. Work some more. Work tonight. Work on the weekend. People think if they don’t make money fast, then something is wrong. What’s wrong is “that” perspective.

You can make money online. You can make a lot of money online. More than likely, before you do, you will lose money first. You will make mistakes. You will drive yourself crazy.

I’ve been making money online since 2000, through various sources like eBay and Amazon and Etsy to a smaller degree. That was when Etsy restricted products that were not handcrafted. They don’t really care anymore.

Making money online isn’t some magical, super fraternity where you know the secret handshake and the code. No, it’s not like that. What you have to do is figure out something you like enough to deal with the bullshit that’s going to come with making money online. I love writing. I fucking hate editing. I now like making YouTube videos. At first, I hated it.

There are so many things you have to go through to be successful. Many people want to be writers and they want to write a book. That’s great. That’s awesome. Writing a book is fucking hard. It is.

This is the thing about writing a book. I’ve written some that went nowhere. You can spend a lot of money. You can put a lot of time and effort in to the book. You can spend a lot of money for a great cover and the shit still won’t sell.

Then you can wake up one morning and write some shit for fun and put it on paper and it sells on Kindle like hotcakes. How the fuck did that happen? It happened to me. The book was in the wrong genre. A book that I worked on for one day became very successful and took off under a pen name. I’ll give you a secret here. Write your book in a genre where there’s a lot of readers already.

I knew a guy who built a business in a weekend. The business got to a point where he was able to quit his job in six weeks after building the business. The backstory is very important. He’s had businesses before. How many times have I said that you need to get started in something. Now, let’s cut to the chase about making money online.

Number 1 – You have to stick with it for at least a year or two. Before we get to that you have to validate your idea and test to see if your concept will make money. I’m not suggesting that you stick with something for a year or more if no one is buying it after a month. If that happens, the marketplace is telling you something is wrong with what you’re doing.

Let’s talk about how much money you can realistically make online as an inexperienced person. Assuming you’ve never been online before, you don’t know what you’re doing and you’ve never built a website; you won’t make a lot. If you are diligent, you might make $10K to $20K minus costs. You might be looking at $5K in profit.

If you are doing eBay or Amazon, you are only marginally better off than someone with no experience online. In fact, the person that is stupid and realizes they are stupid may be 90% ahead of where you are. As an eBay or Amazon reseller, you only know how to work a system. Granted, the systems are difficult.

When you can sell your products and services from your website or some web asset that you control to make a living consistently year after year, then you actually know what you’re doing. If you cannot do that, then no, you don’t know what you’re doing.

One of the reasons I feel I was successful fairly quickly is because I have fucked up quite a bit. I’ve made a lot of mistakes that I learned from. It gets to the point where you’ve made so many mistakes, you can feel the slippery slopes coming under your feet. You instinctively know if you go one inch farther, you’re going over the edge. You can just feel the “fuck up” coming.

Then you ask yourself this question. Is this “fuck up” detrimental? There are many different schools of thought on this. Some people think the path to wealth is not to make any mistakes and to manage risks. Interestingly though, the people that have become fantastically wealthy have taken huge, calculated risks.

The way the world is today, you can build a company that loses money and still make money. In no time in history has it ever been like this. Typically, you have a steep learning curve. Let’s just really talk about that.

If you are going to keep looking for systems, there are many to choose from. Some of them work really well. I am not going to marginalize them. What I will say is many of you are killing certain niches like I’ve never seen before.

About four years ago I made a prediction that Amazon would find a way to reduce authors’ income. This is why. For every author that was writing in 2009 and 2010, there are about 50 more writing now. Some of them are damn fucking good. Some of them are amazing.

You have this pool of talent where the floor is very high. Your cover has to be on point. Your editing has to be on point. Everything has to be on point. There’s a lot of competition. Smart authors should start building their tribe today, even if you don’t have your book finished yet. If you have a concept, that’s enough to start your tribe.

This is where success happens online. It happens in the beginning stages. When things are so bad that you consider going back to a job, that’s when you are tested and where your success comes from. The ability to work hard and endure will guarantee your eventual success.

Even when the shit is going sideways, you still have to believe you will win. There’s not going to be too many people who will be your cheerleader, except for possibly your mother or other family members. You have to be able to be your own cheerleader.

To make money online, the first thing you have to have is a concept. The second thing you have to have is some tenacity. The third thing you have to have is a will to win.

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How to Write for Money – Script Your Day for Success

How to Write for Money – Script Your Day for Success

If you don’t want to read it, you can watch this video.

You want to write out how you want your day to go. If you’ve got a big meeting that is coming up, write it out. This is something I have really started getting back to. When I was in sales, I used to do it all the time. Just like I am helping you, you’re helping me. As I go over the lessons and give them to you, I get them back.

When you sit down and write out your “perfect” day and what you want to have happen, you activate a different center in your mind. I’m going to give you an example of what I’m talking about. I’m a writer. I write on the computer. I used to do long-hand.

When you do long-hand writing, it’s a different groove. When you do it on the computer, it’s a different groove. This is where it gets tricky.

If I write something on the computer then I turn it into a Kindle file and read it on Kindle, it looks totally different. Every time you look at something from a different perspective, different parts of your brain come in to play.

When you write, you have to be deliberate. You have to have intention. You have to think, structure, then write. Now if you just do this on the computer, you are thinking and writing which is a totally different thought process.

Think about it. You can type much faster than you can write. It’s a different process. The process of thinking and typing is more fluid. The process of thinking, structure and writing takes more time when you do it on paper. But the time is well spent because you activate more core muscles in your cortex. You activate a lot of stuff “up in there.”

So, this is the deal with scripting your day. It’s going to take practice. If you’ve never done it before, it’s going to be weird. Consistency is key.

So, this is what you want to do. Take a sheet of paper. Turn the TV off. Turn the internet and phone off. You sit there and think about it. Today is such and such a day. How do I want this day to go? If you want everybody to smile and greet you, write it down. I’m serious.

I’ll give you an example. I wrote down that I am going to engage new people. Being specific is a big part of this. Normally, I’m a chatty guy, but I’ve climbed into my writer life and have become a little introverted. I know that’s not good in terms of marketing. It’s at odds, because you want people to come to you.

When I go out and eat, one of the things I do is chat up strangers. I want it to be natural. There was this chick the other day who was doing her Fantasy Football League on her iPad. When I saw that, I jumped in and we talked for 30 minutes. My whole point for bringing that up is to say that I created that intention and wrote it down, then it happened.

Understand. I think writing down your goals does work. Writing it down activates different muscles in your mental cortex. I’ve looked at stuff I’ve written down years earlier when I was moving and ran across it. What was interesting was all the stuff happened.

Writing stuff down helps you manage stress. One of the things about scripting your goals is that it calms down the anxiety. One of the reasons you have anxiety is because you don’t have a plan.

If you script your day, you will be more positive. You will learn to think. It’s very important.

Step #1 is you need a clean sheet of paper every day to script your day. Say there is a person that you are having a problem with. You write down on that sheet of paper something like this. “I and so and so will start to see eye to eye on many things.” Look at it and read it out loud. You will see things change, because what you have done is place a seed in your brain that activates something that helps to make that happen.

Step #2 – Let’s talk about the home life. Say you’re married and you and the spouse have not been getting along. Write down, “I love my spouse. I want the best for my spouse. I’m going to do things to make my spouse happy. We’re going to have fun as a couple again.”

Take that information and share it with your spouse. This is the rub; don’t require them to participate.

Step # 3 – You want to facilitate a new habit. “Today I am going to take my first step to start my new habit.” Write it down.

Step #4 – As you’re writing down your goals at the end of the week, look at your sheets and see what happened.

Another thing to do when you are scripting your days is to carry over important things from one day to the next. As you go through your day, X out if it happened. If you keep writing this stuff down, you will be amazed how it will change your life.

One of the things that happens when you do this is that you will start to take control of your mental environment. Make it a habit. In the beginning, it’s going to be janky, because you’ve never done it before.

I typically write slow. We live in a society where a lot of people don’t write. Be deliberate. You have to think, structure, then write. As you do this, you’re going to notice things change in your life. You’re going to think a lot clearer.

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Adpocalypse – AdSense Sucks – Why I am No Longer Putting Ads on My YouTube Channels

Adpocalypse – AdSense Sucks - Why I am No Longer Putting Ads on My YouTube Channels

If you don’t want to read it, you can watch this video.

AdSense has never been a big part of my income. It’s nice to get money every month out of nowhere. Everyone loves that, but there are a few problems. Much of the content I create is not advertiser-friendly. Do I want to change my content to be advertiser-friendly? My answer to that is, “Fuck no.”

When I created the business, I created it because I wanted to do what I wanted to do and say what I wanted. If I have to cater to advertisers, I’m going to have to do and say what I don’t want, and not be myself. That’s not going to work.

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Question: Can you show us how to make money?

Answer: We’re going to take a trip down memory lane. One of the things you have to do is to set up your channel to make money. You’ll get a lot of conflicting opinions. Many people will tell you not to set up your YouTube channel to make money. In 2009, I got on YouTube for the express purpose of making money and I’m still here.

You need to learn how to sell. I’ve said this 1000 times and I’m going to say it again. If you’re going to build a YouTube channel to make money, you’ve got to build it in a certain way.

I don’t think YouTube is changing for the worse. There are people on YouTube channels who are literally popping pimples and making money. There is so much noise out there that poor quality content is not going to work anymore.

The first step you should take is to ask yourself how hard you are willing to work. This is not exactly the stuff you hear in typical YouTube “How To” videos. YouTube is going to get harder and harder as more and more people want to do it.

There are kids who say this is their Number #1 career choice. The 13 to 18 age group wants to be YouTubers. They don’t want to work in corporate America.

Now, you can still make funny YouTube videos and personal vlogs, but you’re going to have to be very, very interesting. You’re going to have to look at the project in a different way. Ask yourself, would I watch this video. If the answer is no, don’t put it up.

Like I said, I have been toying with the idea of taking ads off of my videos. If you do a lot of videos, you can make a lot of money during the holidays because of the ads all over the place. With this new thing, I’m making about $150 to $250 a month, which is down about $850.

I know what is happening. Some of my better performing videos have been demonetized. I knew it was coming. It’s cool. I am currently getting $5 to $30 in love offerings a day. I know that doesn’t sound like much. When I compare it to the $1 or $2 I make on a video every month in AdSense money, $5 is really good. $30 is crushing it.

Question: Is Patron the new way to monetize your channel?

Answer: I don’t know. I’m not going to do Patron. Here’s the whole love offering pitch. “If you watch the channel and like the content then go below the video and hit that love offering.” It’s hooked up to PayPal. It’s one link. You can put whatever you want. The reason I’m doing that is there’s going to be six or seven channels. I’m going to do the same thing on each channel. It’s all going to be managed on one PayPal account. If I was using Patron, each channel would have to be setup separately. It becomes very complicated.

I’m going to get back in to the stories on the I am Cameron channel. I’m going to get into personal development on Glendon Cameron. I’m going to talk about video marketing on Mack Daddy Media. For publishing, I am setting up Rich Self-Published Author.

I know from being on YouTube for nine years, if you put enough videos out, you’re going to have something pop. I have one video that was responsible for $100K in income.

Question: Is it okay to put links away from YouTube on the description?

Answer: YouTube will penalize the shit out of you for doing that. Sending traffic off the site is a big issue.

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Question: What’s the best way to get exposure for a new channel?

Answer: The first thing you have to do is make some good videos. Then you start getting people that you know to share them.

Verlyncia – How are your channels doing?

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Verlyncia shares her comments.

My channels are fine. I didn’t put ads on mine. I could care less about monetizing them because I’m actually using one channel as a platform to shoot short films and music. Monetizing has never been my motive in starting that channel.

I have one channel where I review design issues or major brands where I have connections. This channel is designated to shooting extremely high-end resolution, almost like movie style format. They are short films. It feels good to make original content. The channel has found its own following.

One of my channels is literally my name, Verlyncia Tyson. That channel is DetailGirl with no spaces. Check it out. I’m still testing out coloring and all that stuff. The post production is fairly difficult in terms of changing the filters.

My biggest struggle is because I have extremely poor eyesight. I have to shoot videos four or five times because I can’t tell if I’m in focus. I don’t shoot with any automatic lenses.

When it comes to shooting with the Red camera, the hardest thing about that is making sure everyone is on the same page. Since I have a team and we are limited to a maximum of thirty minutes of battery time, we don’t have time for many retakes.

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Glendon continues.

If you’re going to do YouTube in 2017, you have to decide if there is an audience for your content. There are people who will disagree with me and say there is an audience for all types of content. That’s true, but all audiences will not make you money.

This is a tip for you. You have to have consistent behavior in each video. This is where the real money comes in. When we’re about 30 to 50 videos in with the same methodology, then new people will come in with love offerings. This will grow day by day, month by month and year by year. It is the embedding of that message in the video that will build revenues. You can do what I’m doing.

In the long run, the love offerings are going to make more than AdSense. It will be more consistent. When people make love offerings, I get their email address. Then I can send something nice to them in return.

PayPal has this custom URL that you can use to be paid. So, it’s really, really nice. It makes the love offerings possible and easy to setup.

In parting, if you want to grow your channel, really think about it. You can start off with a camera phone. Get started and find out what you like.

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A Sure-Fire Way to Make Money – Validate Your Business Idea

A Sure-Fire Way to Make Money – Validate Your Business Idea

If you don’t want to read it, you can watch this video.

You know what’s funny? A lot of people start a business and they really don’t know if it’s going to work. They’ll talk to their friends. They’ll talk to their family. They’ll talk to co-workers. These people will encourage them and say things like, “Yeh man. Go for it. That’s a good idea.” Then some people go so far as to quit their job before doing any real research or due diligence. It happens all the time.

Now this is the problem with that kind of research. You’ll ask these same people that were so supportive of your idea if you can write up their order and things suddenly change. They say things like this. “I don’t know.” “Could you tell me more.” “Could you give me more information.” “I don’t know. It’s the end of the month.” “I’ve got to check with my wife.” “I’ve got to check with my husband.” All of these things are saying, “I don’t find value in what you are selling.”

I’ll give you an example. Now let’s say I opened up my wallet, right. Then I went in and pulled out a $100 bill, saying “Hey, here’s $100.” If I walked up to you and said that every day, then handed you another $100 bill and another $100 bill and did that five or six times every day you would never get tired of me doing that, right? Of course not. Why? Because I’m providing value.

So, when someone says, “Hey, I’m getting too many emails or videos,” they don’t see the value in what I’m doing. If someone immediately comes up with objections after you quiz them about a new product or service it’s because they never saw the value. They were probably just being nice if they acted interested and supportive but were unwilling to give you an order.

There are many people who set up businesses after asking people these very things and they are woefully disappointed. When it comes down to opening up that wallet or giving out a credit card number,  things change. What you have to understand is you must validate your business before you get in too deep.

What many people do is they start something. They put their heart and soul into it. Then when people say, “No, I don’t really want that,” then all of a sudden, it’s a problem. You have to validate your business. The first step is to ask for the money. Once you start asking for the money, everything becomes very, very real. All the romance fades away.

Are you going to give me money for this product? Are you going to give me money for this service? Typically, in the beginning, the answer is “No,” or “Maybe,” or “I don’t know.” Money on the table makes people think. So, the first think you want to do is ask for the money. Part of asking for the money is identifying what you are selling.

Let’s talk about Apple. Every time you go to Apple’s web page, they ask you for the money. It’s that little blue buy button. They have tested the color. They have tested the words on the button. They know it works. They haven’t changed that in years. They are high-converting colors. They are high-converting words. How do they know this? They have been asking for the money for years and years.

Apple has a whole group of people dedicated to knowing how to ask for the money. That’s how important it is. If you think you’re going to put something out there and people will be so blown away that they will just buy it, you will be disappointed.

Learning how to validate your business and ask for the money is crucial for your success. As long as you refuse to do this, you are always at risk of being someone else’s cog in their machine.

Pre-selling is one way to validate a product or service. If you put 10, 15 or 20 products out in a year on a pre-sale basis, probably 12 or 13 won’t sell that well. But, one or two of the products will go crazy. The more that you create and put out there, the greater your chance for success. If you are thinking that one thing is going to be your answer, you’re going to be in a world of hurt.

I’ll give you an example. A few years ago, I put out my course, 30 Days to $2500. It sold really, really well. I was also selling a lot of books on Amazon. Then one day, it just stopped selling. It just literally stopped.

I didn’t stop promoting it. The market constantly changes. People are looking for different stuff. One day, people are 100% into your product. Then, 90 days later, they aren’t interested. That’s why you must ask for the money, ask often, and validate often and as fast as you can.

One of the ways you can pre-sell is to individually send all of your friends and family a note. Do not send out a mass Facebook or email message. Individually create these conversations. In your message, say, “Look, I’m asking for your help. Can I get a commitment?”

Get in the habit of doing that. As a business owner, you’re always going to be asking. The sooner you become comfortable with that, the better.

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How to Double or Triple Your Monthly Hustling Income

How to Double or Triple Your Monthly Hustling Income

If you don’t want to read it, you can watch this video.

We’re going to talk about how to scale your business up and make more money and actually work less. Let’s say you’ve got your business up and running and you’re working 70 to 100 hours a week. In some cases, you aren’t earning any more money even with all the hours you’re working. In the worst cases, you’re losing money. If any of the above situations sound like you, continue to read this blog because I have a solution to your problems.

Let’s talk about your business. You’re working. You’re struggling. But for some reason, you can’t make any more money. You’re putting in more hours. You’re advertising more, but you’re stuck. You’re running your business like it is a hustle.

I know you should hustle to get your business up and running, but the same energy that it takes to start a business is radically different energy than it takes to grow or maintain a business. The problem is that many successful business owners don’t know how to scale their business. It is critical to scale if you want to move forward and be successful.

Let’s talk about the power of a referral. There are many people who talk about “word of mouth.” Referrals are extremely powerful. You must remember, that when you set up a system, it is not effective immediately. If you are caught up in a tactic driven business where running an ad or a sale to get immediate results is your idea of building a business, then you will be forever chasing your tail.

Now going back 100 days or so when I first started inserting an automated referral mechanism in my business, I’m starting to see fruit. This is the beauty of it. Once you begin it and you make it part of the corporate DNA, then each month, the referral base widens.

For 90 days, I’ve just been maintaining and building a certain level of discipline to keep doing this. As I discuss this, I’m talking to business owners. It is incumbent on you to put that level of discipline on yourself and spread it around your organization. If you don’t do this, you’ll become a tactic driven business again.

To grow your business professionally, you’re going to have to start automating and growing systems, processes and formats for automatic growth. As long as you’re pushing the growth using a tactic, you’re always going to struggle.

Let’s just say you have an advertising agency and you are a one-man shop. When is the last time you ask a client for a referral? When is the last time you ask a client for more business? When is the last time you followed up with a client who said “No?” Do you realize that 99% of salespeople do not follow up with a prospect who says “No?”

I’ll tell you a little story. When I was selling office furniture in 2000, there was this guy I called 38 times. I got his business on the 38th call. The first three times were friendly. Then it got contentious. It became a game for me to get an appointment with him. Finally, when he was in a jam because he was lied to by another salesperson, I got the business on call number 38. While this is an extreme example, I put that out there to show just how hard it can be to get business.

Things have changed a lot since 2000. The decision-makers are smarter and more insulated today. You’re going to have to be really diligent to get new customers. This brings up referrals as a good way to get new business. If you can get a new customer from a referral, why don’t you have a system in place to do that?

As I revamp this channel and blog, I’m starting to implement sales processes and systems. This is what you have to do to grow your business. If you’re going to be tactically driven, you’re always going to be chasing the newest shiny object. If you create a referral system and more company value, you will automatically embed growth in your company.

I sat one of my clients down who was interested in growth and told him what he needed to do was to call up all his past clients. I told him to say, “Hey, I was just thinking about you. I was looking at the last time we did business. Do you have any needs or do you know of anyone who can use my services?”

He did that and he made 180 calls in the first week. Then he did $70K in new business as a result of calling those old clients. It is surprising that people do not do this.

One of the things you have to understand is that when you are putting together your business, you have to start embedding systems immediately. A lot of people want to grow their business really quickly. In order to accomplish this, you need to start embedding automation and a referral mechanism. You also need an objection mechanism and a system to handle different important issues that impact your business. It is important to remember that growth isn’t an overnight scaling event. It is gradual.

The first system you need in your business is an automatic referral system. It has to be present in every transaction. It has to be present in every bit of copy. If you do this, you could potentially quadruple your business. I’ve seen it.

Many business owners don’t stick with the fundamentals. If you’re a business owner and you’re struggling, the number one problem is you don’t have any systems in your business. That’s not to say that this does not happen on occasion to all business owners. But, if you continue to feel overwhelmed every day, then you don’t have enough systems. After a certain period, you should not be feeling that way. If you are still stressed out and overwhelmed after a couple of years in business, or after 15 years of business, then you’ve created yourself a very, high-paying job, but you haven’t created a business.

By adding a referral mechanism to your business, you create a passive income stream in your earned income stream. This can literally double or triple your income without hiring another employee or spending more money on advertising. That’s how powerful systems, automation and delegation are.

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How to Escape the Six-Figure Trap in Your Business

How to Escape the Six-Figure Trap in Your Business

If you don’t want to read it, you can watch this video.

Are you a seasoned business owner that’s making six figures and struggling to get to the next level? If you are, I’ve got a solution to your problem. Don’t worry, it’s very common and many business owners suffer from it. That’s why there are so many folks stuck at certain income levels. This is the blog that will help you move forward and get to the next level.

Let’s talk about people that are at the six-figure income mark who are doing at a minimum $8500 a month gross revenue. Where most people tend to stall out is at $8500 to $15,000 per month, then they find their business doesn’t really scale any more. You’ll hear people talk frequently about the fact that they are unable to grow past a certain point.

It is very, very hard to go from $0 to $100K per year. Congrats for breaking that barrier. Most folks never break it. Now, it is even harder to go from $100K per year to a million dollars in revenue and this is why. Once you get to a certain level, the business has to have systems, processes and employees.

Yes, I said the “E” word. You’ve got to have employees to grow. Many entrepreneurs who may be brilliant at what they do are not necessarily good managers. I’m going to give you an example of some stuff I am currently going through.

Recently, I’ve been growing one of my businesses and I’m also helping a client grow their business. I’ve made some very bad hiring decisions. Let me give you a little background.

I’ve hired well over 150 people for various companies that I’ve created and worked for over the years, with my last hiring decisions being about ten years ago.  Things have changed drastically. I don’t really understand how to deal with millennials.

In the past few months, I’ve hired five people and I had to fire three. That is not a good ratio. Right now, I suck at hiring. So, what I did is reach out to a friend who is a recruiter and one of my “good hires” that the people are going to be working with in the business. Now, they are both doing the interviews. We’ve also established a better filtering process to correct the problem.

I’ll solve that problem of not being able to hire because it is that important. What many people will do is walk away from it or continue to try to scale their business by themselves or by using freelancers. That solution will work for only a few people in certain businesses.

If you’re selling physical products or services, it’s not going to work as well as it does for companies selling digital products. I sell both. I sell digital products and consulting services.

Right now, my consulting service is growing very fast in comparison to the digital products business. I need to do something a little different. I’ve changed tactics and because of that I need to hire people. As rough as it is, I have to do it.

When you hire people, you have to create standard operating procedures (SOPs) and processes. What is a process? One of the people we are going to hire is a customer service representative for my clients. The person is going to have scripts to use on the phone. They are going to have stuff taped to their desk about how to perform in any given situation.

That is a system. It automates the work flow and empowers the customer service representative to make decisions to help the customer without having to put them “on hold” while they discuss it over with management. Sometimes there will be an unusual situation where this will happen, but on a day-to-day basis, that shouldn’t be the case.

You can become very rich without systems and processes, but it’s stressful. Once you get the systems and processes together, it is easier to scale. This allows the business owner the freedom to stay out of the day to day operations to work on growing the business.

I’m going to recommend this book. It’s called, Rework, by Jason Fried. You should get that book and read it.

You should do every job in your company, briefly. You need to have a clue about what each job entails. I’ll give you an example. One of the people that I had to fire was a graphic artist. Since I have an art background, I had a point of reference about how long it should take to produce art work.

I was able to do comparable art work faster than this person who was hired to take that workload off of me. But since I knew the specifics about the work required, I could communicate with the person. If you have no insights into that job, it can be challenging to hire a person and manage them effectively. This means the employee is in a position where they can really bamboozle you if they are inclined.

I’m not suggesting that you spend years in each position. A few good weeks will work. The experience you gain will be invaluable as you hire and manage people in the future.

You have got to have systems and processes in any type of business you have. You can have a window washing business with systems and processes. Even unsophisticated businesses benefit greatly from systems in place.

Recently, I had my carpet cleaned. The guy who came out really impressed me because it was obvious he had systems in place. When he came in, he explained what he would do. He assessed the work area and asked me questions. Then he looked for the rough spots and pre-treated the area. It worked out well. I will definitely use him again.

The fact that he came in and explained his process instilled confidence. Confidence generates referrals. Any business can do a few simple things to cultivate future business. There is always room for systems and processes.

One of the main reasons systems and processes are so important is for hiring and training purposes. They should be simple and easy to understand. By establishing processes, a new employee can be trained quickly and gain the confidence they need to do a good job.

You need to sit down and write job descriptions. It’s very important. Then, you need to create the systems and processes necessary for them to do their job efficiently.

One of the great joys of being a business owner is that you can set up your business any way you want. You can set it up around your personality. If you want to have dogs in the office, then you set the policy for that.

It is pivotal to the growth of your company that you start to establish processes and systems as soon as possible.

We’ll be talking about that stuff and a lot more on this blog and on YouTube.

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Firing People and Lessons Learned A Day in the Life of a Hustler

Firing People and Lessons Learned A Day in the Life of an Hustler

If you don’t want to read it, you can watch this video.

This year I’ve had to fire three people. It was the same thing in each case. Recently an article came out from one of the larger companies. I think it was IBM. They gave all these “work from home” employees the option of coming back in the office or quitting. If you need a job, that’s not a hard decision.

I’ve had similar problems. Here’s the thing. Everyone doesn’t have the personal discipline to work from home. It’s just a fact. Everyone can’t do that.

I think working at home has gotten a lot of buzz. People wondered what would happen with all the office space if the “work from home” trend continued growing. I even wondered if there would continue to be a need for office space. I was thinking like that. I drank the Kool-Aid.

The reality is people need structure. For many people, that means working in an office. It just makes a difference.

The first person I fired was a big surprise, because she started off really well. Then it got hanky due to an issue with pay. A long time ago when I had a job, when your started a new job, you assumed you had a week in the hole before you would get paid. I got pushback on that here and people wanted advances. Like I said, her performance was good. I knew that if I started giving advances it would bite me in the ass. I swore I’d never do it again.

We had a conversation and I thought we were straight. She had a project to do and I was just checking in because it was related to metrics. I noticed that in three days, nothing changed. I asked her, “What’s going on?” She said she was sick. Then some other stuff went down and the situation totally degenerated. I just fired her. Then I had two more employees do similar stuff.

I had an assistant who said she’s reached out to her and had not heard from her all day. This was at 8pm. No work was produced. They weren’t communicating. Then one of them had the audacity to say she had family coming in so she wasn’t working, but she wanted to be paid for those hours. I was just blown away, so I fired her. I didn’t pay either one of them for that week because they didn’t work.

That set the stage for me to get an office. Now I have two offices. A lot of work we’re doing is going to be project based, so there will be so many things going on at the same time.

Today I was in the office because I was delivering some furniture. One of the employees said they liked working in the office because that way they could bounce ideas off of each other. It is much easier to have those exchanges in person. It is much easier to do that in person rather than over email or the phone.

I know many people disagree and say everyone can work from home. No. That’s some bullshit.

I didn’t lose a client, but the shit looked bad because I was managing it. I said, “Hey that’s on me. I made a mistake.”

I don’t think some employees realize that when they’re fucking up, it impacts the whole company. It’s not just them fucking up. They’re fucking up a lot of stuff. It was really, really bad.

One thing I learned a long time ago is if you’ve got a problem and you need to fire someone, do it quickly. Don’t mull it over. For me, work was not getting done. Then people were lying and just throwing in erroneous timesheets. At that point, you’re committing theft. That’s an easy decision to make. It’s wild how many people are looking to get paid and make a lot of money when they’re not working.

I went ahead and I created a process. When you’re deficient and you’ve got some issues going on, that’s a structural problem. I’ve got a friend that’s a recruiter and my assistant who now do the front-end interviews. They do the weeding out and all this other stuff.

If both of them agree that the person is good, then they get hired. That’s worked out beautifully. I’ve hired people before, but it’s been ten years since I’ve had to hire anybody. It’s been a long time.

Hiring a virtual assistant (VA) is way different than hiring someone here in America. I think VAs can be extremely valuable, but once again, my business model has changed drastically.

I’m doing really big projects, long-term projects. One project is probably going to be three to four years long and it has so many moving parts that this is not something I can turn over to a VA. Even a team of VAs would not work.

I need people who are here that I can talk to. I made a lot of investments in the office. It’s really cool.

If you want to work from home, there are many businesses where you can do that. Going forward, I just decided that if you want to work from home you’re going to have to do some killer work. I’m also going to look at family structure before I approve “work at home” arrangements.

If you’re a superstar and performing like a Ninja, okay; you may get to work from home at some point. I haven’t really decided because in the last few weeks, so much has gotten done in the office. We’re going to keep doing this.

Working from home sounds really good. I’ve done it for a long time, since 2009. At the time, it was just me. It was creative work, doing videos or writing. I didn’t need a lot of space. I didn’t need employees. I have a lot of personal discipline when I work from home. Everyone doesn’t have that.

The possibility for freelancers and people working from home is there. The fact is that not everyone has the skill sets necessary to make that viable. So, it’s going to be very interesting.

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What Are You – Creator or Broker? How to Start Your Own Economy

What Are You – Creator or Broker? How to Start Your Own Economy

If you don’t want to read it, you can watch this video.

You have to ask yourself, who are you and what are you doing? Are you a broker or a creator? As you build your business, you have to know what you’re doing.

I am a content creator. I create podcasts and videos. There are 750 on YouTube and 630 invisible ones. There are 95 videos on the Hustler Mindset Project which are not like anything on YouTube. I also have 14 books.

I got started on YouTube in 2009. I was still pretty much in the reseller mindset. That’s something I did for well over a decade. From selling office furniture to selling home furniture to buying storage units to buying estates, I would buy stuff and sell it to people. For a longtime that was who I was. Being a content creator is something I always wanted to be. Call it a dream deferred.

We don’t do what we do for money. There is always an emotional hook. There is an emotional attachment to everything that we do. It’s larger than money.

There are people in my circle who just can’t understand. They don’t understand why I would give up all that money to make videos and write books. I do it because it makes me happy.

I haven’t been this happy in a long, long time. So, happiness is a form of currency. It’s a form of wealth, like health, mental stability. In my wealth tree, so to speak, there is happiness, personal fulfillment and purpose. Money is like four or five. It might even be five or six, because there are other things before that.

The life that I am living is one of intent and purpose. It didn’t just happen. It came about because I set some goals for myself and they were realized.

When I first joined YouTube, there were only 35 or 40 people operating in the reseller space on YouTube. Some had really good videos. The reseller community was really small. I realized it was wide open. So, I just cranked out the content. The first year I made 200 videos. Some of those videos fell flat. I failed a lot before I succeeded.

Many new people don’t want to go through that process. They’re like, “Fuck that.” People are buying subscribers. People are going to Fiverr and getting false likes. Long-term, that shit’s not going to work.

I was a broker for many years. As a broker, you look for situations you can exploit. Say you’re doing Amazon FBA. You go to Target and you see this toy for $10. Then you pull out your phone and see that the toy is selling for $90. There are ten of them in stock and you buy them all. You’re going to buy all ten because you’ve just realized $1000 profit for $100 spent, minus taxes and fees. That is what a broker does.

You are looking for opportunities because they are everywhere. As a broker, you seek out opportunities to exploit them for profit. As a creator, you create your own opportunities. I’ve gone through that change and am now a creator.

I still flip stuff on the side, but resale has taken a backseat to being a creator. When you’re a creator, you’re the factory, you’re the distribution system, you do everything. Because you do everything, you get most of the profit, depending on how you do it.

Whether you’re a broker or a creator, you’ve got to own your market. Make some mistakes. Lose some money.

By not losing money, you actually lose money because you are circumventing your learning curve. You have to go through the process. You have to figure out who you are. Once you figure out who you are, it becomes easier to design systems and processes to make yourself better.

As long as you remain undefined and you’re just a “Get Money Hustler”, you are Boo Boo the fool because you’re not building any experience. You’re not increasing your knowledgebase. You’re just running from one thing to the next because you are stupid. If you were smart, you’d realize you’ve got to get good at something.

Now let’s talk about income potential. The income potential for brokers could be in the billions. There are companies out there that buy other companies and pull out the fat and make them real lean. They sell them or make them run tighter.

You can make billions being a creator, but there are very subtle and salient differences. I’m going to discuss George Lucas to talk about this. George Lucas created the Star Wars franchise. Star Wars has made billions of dollars for people for decades. As a creator, George Lucas made more money in a two or three-year period than he did in the previous 30 years.

When you are a broker, there are a lot of people in your food chain. When you are a creator, everyone in your food chain is under you. Creators create the food chain. As a broker, you are part of an existing food chain.

There’s a lot of power as a creator. By being a creator, you not only make your own money, you run the show. One of the biggest needs that human beings crave is control. Control is huge. Having the ability to control your work schedule, your hours, your income and who you work with is what happens at the creator level.

As a broker, frequently you are working with people you don’t like. As a broker, it’s not about your universe. It’s about the deal.

I’m at a point, if I don’t like you, I won’t work with you.

As a broker, you are really at the mercy of the marketplace all of the time. You are at the mercy of the marketplace when you buy things and when you sell them. Things are moving so fast that you could buy a product in January and it’s worth $50 less in March. You see this happening with many products. Based on these developments, it was easy for me to decide to be 90% creator and 10% reseller.

I see markets all over the place that I can exploit on the creative side which people aren’t addressing. Based on things that are happening, I will quadruple my income in the future. I could not do that in the resale business.

Why do so many people move from brokerage from creation? It is easier to be a broker. You don’t have to have a lot of commitment. You don’t have to have a lot of money. As a creator, you have a lot of skin in the game.

I can have a much longer career as a creator then as a broker. It is stressful being a broker because of the dynamics of market change. There will be some people who will disagree with me.

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Quantitative Hustling – The Metrics of Money

Quantitative Hustling – The Metrics of Money

If you don’t want to read it, you can watch this video.

A lot of people are suffering. They are hurting. The economy is only getting better for certain people. These are my thoughts on the subject. We are in the midst of a fundamental  change that is creating displacement. If your job can be done by an algorithm, you’re in trouble at some point in the future. The future is coming fast.

I believe if you’re not a business owner and you have a job, at a minimum you need some type of side income opportunity. That will teach you business skills in case your job says, “See you. I wouldn’t want to be you.” Pink Slip City.

Harvey MacKay wrote a book a long time ago, Dig Your Well Before You’re Thirsty. I’m seriously encouraging you to start some business and get some income coming in to develop those skills. What’s going to happen in the next 10 years is going to be pivotal for a lot of families in America.

Enough of the doom and gloom. On the other side of that dark coin is a really shiny side. That is opportunity. There are so many things that you can do that it is unreal.

There is actually a return to quality. There are small boutique firms that are creating really nice goods here in America. People want those goods because they are getting sick and tired of cheap shit. I’m not talking price. I’m talking price, quality and performance.

I’ll give you an example. When I first started on YouTube, I had a Toshiba laptop. At the time, it was a top of the line laptop. The problem was that the laptop could not handle the rigors of three or four videos per day. It would get so hot that it would just shut off.

I reached such a pain point that I ended up spending $3500 on an Apple laptop with the I7 chip, maxed out RAM and a few other goodies. That was two years ago. I haven’t had a problem. I can render a video on that laptop and surf while emailing and uploading a video. It was a quality computer. This prompted me to buy another MAC. I’m going to buy another one this year. Why? Quality.

One of the things I noticed out there is a lot of people’s hustle is almost job based. It takes a supreme, almost maniacal amount of effort to get most businesses off the ground. Some people create something really hot or snazzy and it takes off on its own. That’s atypical. That’s why those stories are so juicy. They aren’t normal.

Most businesses take so much effort to really start rockin’ and rollin’ and then people are butt hurt after four months, six months, or maybe a year when things aren’t really moving. My first five businesses were turkeys. The lessons I learned were priceless.

You have to understand. You have to qualify your hustling. You will have to put in so much time and effort for a few reasons. Number 1 – You don’t know what you’re doing. That’s a good thing and a bad thing. Since you don’t know what you’re doing, you’ll make mistakes. You’ll get past that because the path of mistakes are what I call the Hustler MBA.

People learn so much. Don’t be afraid of it. Grit your teeth. Put your head down and keep moving.

Remember that your business performance is not wedded to your bill payments. That’s one of the biggest lessons I have to break to entrepreneurs. So what if your mortgage is due on the first and the car payment is due on the eighth. So what.

Your business may not be mature enough to handle all that. It doesn’t mean it’s not a good business. It doesn’t mean it won’t be a good business in the future. It does mean it’s not big enough to do what you want it to do.

Usually you want the business to do that because you waited until the last minute to start the business, because you got the pink slip. Instead of digging the well before you were thirsty, you were thirsty like a Mother Fucker. The next thing you know, you decide to get a job or you move in with your mother.

When you start a business, you have to know what your numbers are. That way you can tweak them to get the results you want. Here are a few tips.

When you start a business, you have to put it on a six-month growth plan. Whatever you’re doing right now, multiply it by four. In six months, multiply that by four again. Will this stretch you? Yes, but you will not be broke. You will have money.

We live in a culture where people expect massive results. That’s why I say, take what you’re doing right now and multiply it by 4. Let me give you an example. If you are currently putting 100 items a week on eBay, then you need to put 400 up next week. Then in six months, you’re going to put 1600 items on eBay. Then in six months, you are putting 3200 things on eBay. In six more months, you are up to 6400 items a week.

At this point, you are forced to grow. You need to rent space. You will have to set processes in place.

For pickers, if you go out to garage sales, increase your budget. Get it up to $1000 a week. Buy some better-quality products. I want you to think about this. If you spend $1000 and earn $1000 dollars each week, you are making $4K a month profit.

That’s not super money, but it’s livable money. Whatever your buying budget is multiply it by four. Six months from now, multiply it by four again. Then six months later, multiply it by two. If you push your business that hard, your money problems will disappear.

The more people you serve, the more money you will make. It’s that simple. Until you serve more people, your money will be fixed.

Instead of thinking how can I protect myself and not spend much money, you have to change your thinking and figure out how you can spend as much money as possible in the appropriate channels. Know your markets. Know what’s selling and buy as much of it as possible.

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Why Starting a Business Online Is So Hard

Why Starting a Business Online Is So Hard

If you don’t want to read it, you can watch this video.

It’s an interesting day today. There are so many people who want to start a business online, and they struggle. They’ll create a website. They’ll buy all the books. They’ll do all this stuff and continue to struggle. There’s a reason that it is so hard. Many people are not grounded in business principles. I mean it is hard.

You’ll hear these words. “What’s going on with Facebook ads?”

Let’s talk about the business principles that you need. Sales is key for success. I’ve been saying this for nine years. So many people don’t want to do it. If you learn how to sell, you will change your life. Many people are just avoiding doing that. They don’t want to do it.

The first thing you have to do before you sell anything to anybody is to get attention. The second thing is you have to get them to believe in you. The third thing you have got to do is get them to trust you. It is becoming harder and harder to do that.

I think everybody should start an offline business first to start getting skill sets that will help online. Let’s get back to the whole parallel. If you suck in real life endeavors, why in the hell do you think you’re going to become a beast online?

The same skills sets are used. What putting your business online does is allow you to scale your business much faster and more efficiently. The real core skills don’t disappear. You’ve still got to get them.

In 2009, I started a YouTube channel and I didn’t know what I was doing. I started a blog and I didn’t know what I was doing. But, I knew how to sell.

There is so much discussion about Amazon and eBay. Many people start with those platforms. What Amazon and eBay does to you is create this situation where you feel you can’t do anything else. You become co-dependent on them. It gets really, really crazy. Start that business. Get those skills. You have to do it.

Going back to the example of me. I did not know what I was doing on YouTube and my blog. I was learning “on the fly.” What did I have to help me? I had business experience. I knew how to sell. I knew how to market.

When I say offline business, let’s talk about Mack Daddy Media. It’s a consulting firm. I use YouTube to bring people in and I do a lot of work offline.

You can have a website. This is one of the situations that will be solved very soon. When we hire people and they want to go to the website, Mack Daddy Media doesn’t really have one. People aren’t sure what to think about that.

Sure, I could throw some bullshit up there. But, I have a vision for that website. You know what? I got clients for that business without a website. So, in my mind; I need a website, but it’s not a top priority. What’s a top priority – getting sales and making money.

I have pulled back from what everyone else is doing. I went to this really good video marketing conference. It was all week long. It was really good.

After sitting down with myself, I realized I was trying to create something I didn’t really want to do. I realized I was trying to create something I wasn’t really good at while ignoring what I know how to do, which is what a lot of people do.

With those business skills I have, I can make a lot of money without YouTube. I could make a lot of money going out and selling stuff on Craigslist and build a resale business. Do I want to do that? No. I don’t want to do it. It doesn’t fit with the long-range vision I have for myself of how I want to remembered when I’m dead.

I have a list of shit I want people to know, like he wrote this book. He created this. He created that. When you have a resale business, when you’re gone nobody notices it.

I didn’t know any of this stuff and I had to learn it. I knew how to sell. I knew how to setup a sales process. Now, where did this come from? Selling office furniture and Craigslist. I don’t know how many ads I’ve written for Craigslist. I had 8000 plus sales.

I advise you to start a business locally in your circle. You will still get the experience. Just do that. So many people are trying to skip over this step.

In the beginning, I made so many mistakes. Even so, I made money because I knew how to market. I know so many people that have the best websites. They know all the stuff about Twitter. They’re good on Facebook. Yet, they’re still living with Mom and Dad.

I can sit down and talk with someone who started a business and get a feel whether they will make it or not. If you start an offline business and spend 90 % of your time on sales, you will make money. Typically, people spend 90% of their time on the vision and the mission statement. They fantasize about what they will do once they make money. Remarkably, a small amount of time is given to sales and marketing. People act like this stuff is just going to happen.

Starting small is starting with your inner circle of people you know. When you make your mistakes, your mistakes will be smaller. It will be a smaller pool of risks, because you’re not that big.

When you are an online person it gets wild because in your mind, you know how this works. Everybody is not real comfortable with this online thing just yet. It’s really, really crazy when you think about it. That’s why there is so much room to grow, because so many people look at this as a joke.

If you go through these trials and tribulations about how to sell and how to start a business, then you’re going to put yourself so far ahead of everyone else. I’m talking about people with money. Just because you have money and want to start a business does not mean it is going to be a success.

If you want to make it as an online person, you need to learn how to sale. You need to immerse yourself in the sales process.

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