This week’s Misfit Entrepreneur is Pejmon Ghadimi or PJ for note. PJ is a self-made entrepreneur and bestselling author, with over 10 books to his name. He was born in 1982 in the middle of a revolution in Iran and was raised by a single mom in France for the majority of his childhood, and eventually migrated to the United States in 1997.
PJ has a number of businesses, most notably Secret Entourage and it's affiliate businesses which have grossed over $40 million in revenue annually. He’s been featured everywhere from Forbes to Fox Business and also has interests in real estate and exotic cars – all of which we will touch on today.
But, the big reason I wanted to have PJ on the show is for him to teach you the systems and processes that he has learned and used to grow multi-million dollar businesses from scratch.
PJ says he’s been able to do what he has done with a LOT of hard work. He spent his childhood fleeing from country to country until they could make it to the US. But when they made it, they didn’t have a green card which made the only way to make money being an entrepreneur. But, PJ did find a loophole that allowed him to get a job at the age of 14 as a telemarketer.
He worked his way up from there to become the director of a remodeling company until he was 18. He then became one of the youngest bank managers in the US and had a successful career in banking until age 25 where he “fired himself” and found himself without purpose. He was 25 and had money. He took time to figure out what he really wanted to do.
He started the world’s first alternative asset investment fund called VIP Motoring and that became his largest business. Through that business, he made a number of great connections and was able to retire as CEO in 2011 and put in place a management team to keep running the business.
He then transitioned his focus to legacy and training and educating people to help them succeed including Secret Entourage and other ventures.
You’ve been through an incredible life journey – what is the most important thing you’ve learned at this point?
The biggest enemy to success is entitlement. You should never feel entitled to anything. Earn it.
You wrote “The 3rd Circle Theory,” take us through the 3 circles and what they mean…
Examples and the lesson of each circle?
Don’t look outward for blame, instead look inward for change…Take responsibility and take back control. You are the cause of your own happiness or misery.
The difference between a business owner and an entrepreneur?
You should first master the art of business before becoming an entrepreneur
At the 19 min mark, we get into a really fascinating discussion on these topics using the example of Tesla.
What are the steps you teach on how to create your 1st million-dollar business?
Good business is simple, but it is not easy…Good things happen, bad things happen, but you must be consistent in your efforts and adaptive to the market
Talk about the systems that are critical to free an owner from a business so that it can keep running and paying them, but without them.
Are there any critical habits that you think entrepreneurs should practice?
How can own exotic and luxury cars for amazing deals or even for free?
Best Quote: “The biggest enemy to success is entitlement. Don’t look outward for blame, instead look inward for change…Take responsibility and take back control. You are the cause of your own happiness or misery. ”
1. Do the work, don’t question the work. Focus on getting it done however you need to.
2. Become a master at everything you do. The better you get at something, the less you chase the money, but the more the money chases you.
3. No one can take away your character. Every victory or failure you have builds this in you. All the choices you make define you and your character.
Hello Misfit Nation! Welcome to another edition of "Lessons for Hannah!" In November of 2016, we introduced a new format that we are putting alongside our regular episodes called “Lessons for Hannah.” Hannah is my daughter and one of the main inspirations for the Misfit Entrepreneur. I wanted to have a place where she could go and learn from her daddy and his Misfit friends throughout her life….even after I am gone. If you haven’t listened to the first episode of "Lessons for Hannah," I urge you to as it gives some more background and tells the amazing story of how Hannah came to be in our lives.
"Lessons for Hannah" are short, very useful, and sometimes comical lessons, that I have learned which I want to share with you and give to Hannah to help in your lives. Because I want Hannah to have these for her life, I’m going to speak as though I am talking directly to her. These episodes are a lot of fun and if you think there is a lesson that we should include in these episodes, please don’t hesitate to send it over to us at email@example.com. We’d love to share it.
This week’s Lesson for Hannah
Hannah, I want to talk to you about some lessons I learned for life and business from completing my first half Ironman Triathlon. First off, I cannot tell you how much you and mommy’s support means to me as I go after goals like this. Seeing you cheering for me is a memory I will cherish for the rest of my life.
As you grow up, you will have more and more opportunities to accomplish big goals or bucket list items and get to experience how it feels. It is a big achievement. And probably like me, you will feel, once you've done it, that you can go to even higher levels or push yourself further. Even more important are the lessons you learn in going through the experience. Now that I have done a Half Ironman, I am already planning my second one as well as preparing to do a full. A Half Ironman is a 1.25 mile swim, 56 mile bike ride, and a half marathon (13.1 miles) - 70.3 miles in total. A full Ironman is 140.6.
As I reflected on the experience, some great lessons for life and business stood out to me and I wanted to share them with you.
7 Lessons Learned from My First Ironman:
Planning and preparation makes a huge difference
Expect the unexpected (good and bad)
Training is not the same as the real thing
You can always do better - Perfection is unattainable, but that doesn’t mean you shouldn’t strive for it
You find allies and partners in the most unexpected places
You win in your mind before you win anywhere else
Having a big goal that you are devoted and so committed to, that there is no option but to reach, it is one of the best drivers for success
So there you have it. 7 very important and useful lessons for anyone on their journey to success. They work across all areas of your life, and sweetie, I hope you can put them to use for you!
I love you, Daddy
This week’s Misfit Entrepreneur is Michelle Wienstein. Michelle is “the Pitch Queen.” Michelle is a sales superstar and has done everything from advising CEO’s at billion dollar companies to landing contracts with companies like Costco and pitching her way on to Shark Tank. She is also the host of the Success Unfiltered Podcast and the Saturday morning Facebook Live show Coffee is for Closers.
Michelle’s mission is to help entrepreneurs sell high-value services to their clients without feeling pushy or desperate and to show them how to have empowered sales conversations and skyrocket their top-line revenue.
What I like about Michelle is that she has been through it all. She has been on top of the world in business only to have it all come crashing down on her, but then fought her way back. The lessons she has learned on her journey are priceless and what she can teach you about how to sell yourself and your business will help you grow your business and earn more money.
Out of college, Michelle was a financial analyst. She followed the mantra of go to school, get a secure job, and plan for retirement. After a few years, she couldn’t take it. She left and went into sales at Nordstroms. It was there she learned a lot of skills.
She got thinking what she could do with her analyst background and sales, so she got into the real estate and mortgage businesses. She was working a lot and started to have an unhealthy lifestyle – and she was a health enthusiast. She hated to cook, but wanted to find a way to eat healthier. She came up with an idea for healthy prepared meals to sell. She started Fitzee Foods.
She had initial success. She raised over million dollars for the business. She got into Costco and the Vitamin shop and even got to pitch the idea on Shark Tank, but ultimately had to close the business down in 2017.
As she says, “It was a really expensive MBA program…”
The lessons learned with Fitzee were really the stepping stone to becoming the “Pitch Queen.”
What were the most important things you learned going through the experience with Fitzee? Why didn’t it survive? And How did you claw your way back?
How important is timing?
At the 24 min mark, Michelle shares why learning to sell is so important for success…
Michelle’s 5 Step PITCH Queen System (www.sellwithoutsleaze.com)
At the 37-min mark, Michelle talks about what it means to be “professionally annoying” and gives examples.
How did you pitch your way on to Shark Tank?
You have to be professionally annoying.
It is a better place to pitch for a product based business or tech business.
Michelle reached out to every producer and followed almost 2 times per week.
They send people home all the time if you are not on point for your pitch at all times – you have to be on your game.
Know which Shark you are pitching to because one of them will be the best fit for your pitch and solution.
Shark Tank is the Olympics for entrepreneurs
Best Quote: “When you are always showing up, you become “professionally annoying” and get business”
This week’s Misfit Entrepreneur is Matt Schroeder. Matt is just your regular 20 something college student, who started a T-shirt company, Shelly Cove, with no business experience, did $12,000 in sales in its first week and over million in just about year.
Even more impressive is the fact that Matt not only wanted to create a great product, but also wanted to make a difference with it. The company donates 10% of its gross sales to sea turtle rescue.
In talking with Matt, I was blown away by the simple, yet genius ways in which he has grown the business and continues to expand its reach – especially using social media. So, I had to have him on to share his story and these success hacks with you.
Matt started Shelly Cove in college with his parents. They were his business partners. Matt has always had an interest in entrepreneurship, but had never started anything. When he came up with the idea for Shelly Cove came up, he decided to “just go for it.”
When the idea came to him, he was in the middle of engineering internship and one day, he was thinking deeply about if he really wanted to do it. He was talking to his parents and decided he wanted to do something on the side. They got to brainstorming together and came up with the idea. They spent the summer coming up with design ideas and getting things up and running…and when they launched, Matt could quickly see that it was not going to be a side business, but more of a full time business almost right away.
At the 7 min mark, Matt talks about the inspiration that really put him on the entrepreneurial path. Hint: It was a failure and his grades tanked – but it was all he needed to get the entrepreneur spirit.
The original idea for Shelly Cove was to create some T-shirts and sell them on Etsy, but changed to the business it is today. How did that all come together?
You started giving back from the beginning, what made you start out that way?
You chose to focus on women and children for your products and niche. Why did you do that?
How did you sell $12,000 in shirts in your first week?
At the 24 min mark, Matt talks about the marketing strategies he uses today…
Tell us about the “Rep” program you created…
At the 33 min mark, Matt talks about how important the packaging of the products were.
What advice would you give about making the leap to entrepreneurship?
At the 37 min mark, Matt talks about the most important thing he has learned about himself from this journey…
He learned to find his confidence
Best Quote: “It doesn’t matter how old you are, it matters how driven you are and how willing you are to learn…”
Matt's Misfit 3:
This week’s Misfit Entrepreneur is Alan MCkenna. Alan is the President and CEO of Business Acceleration Strategies, a firm that has generated over $30 million in additional revenue for clients through implementing funnel optimization, producing 6 and 7 figure evergreen, automated sales and marketing funnels.
Alan has worked with and provided expertise to everyone from John Assaraf, T.Harv Eker, Success Magazine’s Darren Hardy, Lisa Sasevich, and a number of INC 500 companies.
Alan has done the impossible. From adding $600k in additional revenue and shortening a client’s sales cycle by 66% in just 6 months to helping clients go from $0 to over $200k a month in revenue in just 4 months – he is a master at growing a business. So, I wanted to have him on to get his best tips and secrets that you can use to turbocharge your own income.
When Alan was 21, he was working for a company making good money, but kept seeing a guy a few years older than him that was doing exponentially better. The guy was the #1 sales guy in the company. Alan approached him and asked him to mentor him. The guy took Alan under his wing and taught him how to sell and get leads. Alan, sold for a few years and then went into marketing.
The owner of the company then purchased another company in New Jersey and Alan moved from the UK and was asked to come open the office to run marketing and build the sales team.
After a few years, Alan went back into selling because it was very lucrative. He did that for a while and had put away a significant amount of money. He then moved to California and started to study internet marketing and immersed himself in it.
His first clients came by word of mouth and things just grew from there. One of Alan’s secrets is the way he looks at a business and where sales and marketing fits in from end to end.
What was the #1 piece of advice you learned from your mentor in sales?
What is your best advice for creating a great, consistently producing funnel?
How do you setup a good joint venture?
How do you find a good JV Partner?
Brian Tracy taught you a great way to double revenues and you created a system for it, what is it?
If you want to double your sales, you have to increase the face-time you have with people.
At the 20-min mark, Alan talks about his 9 simple sales conversion strategies and gives us some of his top ones with examples on how they are implemented.
Best methods for generating more leads
List size thoughts?
What are the biggest mistakes that are made when it comes to funnels?
At the 38-min mark, Alan talks about how people can create a virtually unlimited marketing budget and how do it… (You’ll want to listen to this a couple times!)
Best tips for maximizing marketing and sales on the following:
Best Quote: "One key thing every business must have in their marketing to find the best way to consistently communicate with their perfect audience. You must spend the bulk of your time there."
Alan's Misfit 3: