This week’s Misfit Entrepreneur is Dylan Jacob. Dylan has a incredible story. He’s already built and sold multiple companies, has built his current company, Brumate, to over $50 million in sales in just a few short years with less than 10 employees and no outside capital, he’s been awarded Ernst and Young Entrepreneur of the Year for the Midwest, is a Forbes 30 under 30 recipient…and he’s only in his mid-20’s.
But, he didn’t start out with anything handed to him. In fact, quite the opposite and his path went through a lot of twists and turns, but one thing was constant – he was an entrepreneur from a young age. A Misfit Entrepreneur. And true to Misfit form, he’s used his inner Misfit to bootstrap companies and create whole new markets. I’m excited for our conversation today and know that your going to get some great takeaways from him.
@Dylan.Jacob on Instagram for updates and keeping up with Dylan’s story
Dylan grew up in a small town in Indiana. There wasn’t much to do. His childhood consisted of him looking for and finding things to do. He always wanted to be an inventor, so he would tinker and create things. He grew up poor and his parents split with he was in 4th grade. His mom was working for minimum wage. He had been home-schooled prior and thus 4th grade was his first year in traditional school. Of course, having next to nothing, he would see other kids with things he wanted to get.
So, he started doing everything he could to make money to buy things and not burden his mom. He did everything from yard work to odds and ends jobs for people. This made him realize that if could provide value, he could get paid for it.
In 7th and 8th grade, trying to fit in and gain acceptance led him to hanging with the wrong crowd. He was expelled twice. He was an entrepreneur, but not in the right way. He sold drugs (weed). It wrecked his life. He was expelled, when to juvenile detention for several months and was put on house arrest. His mom had to pay for everything and it hurt their family.
It was at this time that Dylan took a step back to reexamine his life and looked for legal ways to make money to pay back all the costs of his trouble. He took a nod from his grandfather who had come over from the middle east and started fixing things like TV’s and VCR’s, etc. and had a little shop. As Dylan went into High School, people were getting smart phones and would damage them or break screens. Instead of repairing them, Dylan would buy them cheap, fix them up, and sell them on Craig’s List. He would order the parts from overseas and resell them. This was his first taste of making real money.
This started Dylan’s career of finding unique opportunities in gaps in markets. Big gaps.
As sophomore year started competition in the form of repair shops started to come in and he was doing less business because people were getting their phone fixed. But Dylan found another gap – He got to know the others of the repair shops and where they were getting their repair parts. They were ordering from E-bay and Amazon and getting B and C grade parts, not OEM parts that were A-grade. Dylan made deals to supply better parts from the connections he had made and was using. He made the competitors his new clients.
By senior year, Dylan’s business was working with over 100 repair shops around the U.S. doing hundreds of thousands of dollars. The funny thing was he still held to this theory of wanting stability and a job in life and decided to go to college for engineering. As he says, he “didn’t quite believe in himself as an entrepreneur.” He had gone from being expelled to being top 10 in his class with a thriving business – but still thought he needed a job!
During Christmas break of his first year, a larger franchise ended up putting Dylan’s repair parts in the bulk of their stores and then shortly after gave him a buyout offer. He took the deal and took the semester off. Once he saw the money is his bank account, it was a reality check. There was something to entrepreneurship.
He decided to put school on hold and go full time as an entrepreneur. He bought a house to fix up and as he began to fix it up over the course of a year. He kept a journal and would jot down ideas they came up. One idea came to him while fixing the house. It came out of the need for a better selection of kitchen backsplash tile. There was hardly any selection and none of the options, he liked. So, he saw the need for more options, specifically glass backsplash. Vicci Design was launched in 2015 and provided the largest color selection and size of glass tile available. Over a year, he knocked on doors and local showrooms and started working with Wayfair and Overstock. It was profitable from day one. He was still doing side hustles and launching other businesses during this time.
He turned 21 in 2016 and started to love craft beer. And most of it came in 16 oz cans. He’d notice that always the last ¼ of his beer was warm. It drove him nuts, so he wrote in his journal, “Find a way to keep beer cold.” That was the beginning of Brumate.
He started looking at the stainless steel insulated drinkware market. In 2016, it was the fastest growing category in the housewares market. All the major players were focused on hydration drinkware. It was all about water bottles or coffee. Dylan decided to create the products for the “dehydration” market – making drinking alcohol a better experience. It was huge gap that no one else was doing and ignoring.
His first launch on the concept sold out in a couple weeks.
Dylan’s story has a lot of teachable moments…
It’s one thing to have an idea for a product, it’s another thing to create it. How do you source and get a product done?
What can you tell us about selling online once you have a product?
At the 43 min mark, Dylan discusses some unique ways he figures out what is in demand.
What was the tipping point? $50 million+ in 4 years – what was the inflection point?
Constant innovation and testing is critical to staying on the forefront of product creation and growing the market.
Best Quote: Your biggest opportunity is what your competition is failing at or not servicing with their products.
Dylan's Misfit 3:
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This week’s Misfit Entrepreneur is Mark Given. Mark is a philosopher, teacher and speaker and travels extensively helping companies, organizations, associations, educators, and individuals understand the science of building, maintaining and repairing TRUST.
He is the founder of the Trust Based Philosophy and the Trust Based Academy and best-selling author of 8 books about Trust.
He’s started and sold multiple companies and built a global brand and I’ve asked him on today to share his best wisdom on how to create, build, and grow trust as I think it is one of the most important currencies we have as entrepreneurs – and I also think it will be especially important as we get back to doing business as the global pandemic subsides.
www.MarkGiven.com
Mark has had transformations throughout his career. He graduated from college with a music performance degree, but always wanted to be in business for himself. After traveling for music for a while, he decided to get into business doing a short stint in insurance. He then opened a small retail video rental store in 1980. He started long before Blockbuster and others. He focused on opening stores in towns with 25,000 or less people. He grew it to over 47 location in a 24 year period. He had the vision to see the changes coming with streaming and movies moving to online and sold the business long before others got out or went out of business.
He did very well on the transaction and then started into the real estate industry. But, really loved working with people and helping them. He realized that he operated for much of his life and career on a specific concept of trust. He realized that no one was teaching any science behind why trust works and how to build, maintain, and repair it. Trust is the foundation, but it’s more than just a philosophy.
Define what trust is….
What are the 4 Facets of Trust?
At the 13 min mark, Mark gives examples of each?
How do entrepreneurs go about establishing trust and asking people to buy our products and services in the “new normal” coming out of quarantine?
How do you see the Trust Based Leader in all this?
Best advice in managing the stress of these times and ongoing?
7.5 Things to Thrive in the Next 3 Years?
Best Quote: “Trust is the foundation, but it’s more than just a philosophy.”
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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 support@misfitentrepreneur.com. We’d love to share it.
This week’s Lesson for Hannah
Hannah,
It’s been 5 weeks since I gave the background and my first status update of the Wuhan Coronavirus and its impact throughout the world. And it is incredible what can happen in 5 weeks. I wish I could say things are much better now, but we have not yet turned the corner.
First, let me review some of the biggest things that have happened over the last 5 weeks so they are on the record. I am probably going to miss some, but here is my best list of them:
Now, Hannah, at this point in your life, you are 7 years old and you probably don’t care much about unemployment numbers or what the price of oil is or what that even means. I know that, but I also know that you will listen to this when you are much older and understanding what happened in the past will help you in determining things that will happen in your future.
I think, it is also important that I share my thoughts, feelings, and opinion on our current state. First off, I can say, and I thank God every day, that your mother and I’s businesses have weathered the storm to this point. While my largest business is in the travel space, because of the diverse markets we serve, we have been able to hold steady. We are seeing some major impact across travel and I think we have a ways to go. We haven’t gotten the full brunt of it yet. At this point, we have been able to keep our employees and benefits in place for them and plan to continue to do so as long as we can. There are some government programs/assistance that have been created over the last few weeks that will help us in being able to keep people employed. We have applied for them and been approved but have not yet gotten any relief.
At home, we have settled into a pretty good routine with your schooling. You mother, like so many other parents that have been thrust into having to teach and school their children, is an angel for taking on the bulk of this while I work to keep things going across the different businesses. As you’ll someday remember, she has created lesson plans, works with you every day, and is fully immersed in making sure you thrive in your learning.
Each Sunday, we have been doing a family video conference with all our family and your cousins where we play games, share updates and eat around the table together.
The spring has warmed up outside so you now can go play outside and enjoy things like going on bike rides and playing in the yard. And we have set it up so you can Facetime and have virtual play dates with your friends. I know it is not the same as seeing them and doing the things you used to do, but it is the closest we can get for now. And you’ve adapted amazingly. Your resilience and ability to adapt to whatever life throws at you is amazing and has been evident ever since the day you were put into our arms in China.
Ok, so up and until this point, I know I sound pretty gloomy, but to tell you the truth, I’m not. We just must understand and face the reality we live in. Once, we do that, we can then see the opportunity and good things all around us. For example, in business – some of the best opportunities of my lifetime are showing themselves and I’m not wasting any time on actioning on them. More millionaires are created during recessions and economic downturns than at any other times. That is because those that are willing to go after opportunities and do what is necessary to seize them will get them. This is a great lesson that people can learn right now. On the other side, because life has “slowed” down, I believe we are finding as people, how to get back to truly connecting and caring for one another. There are so many examples of this from people helping go get groceries for older people stuck in their homes to people giving and donating to provide medical gear to first responders and on and on. As families, we no longer have the go-go-go of work, organized sports, after-school activities, etc., so we have more time to spend with each other and become closer. We have found innovative ways to still do things and participate. For example, you are currently having your Tae Kwan Do lessons virtually on Zoom with your entire class all learning and practicing with your instructors from our living room. 3 days a week, you are dressed in your full gear and go at it. It’s great.
As they say, when life gives you lemons…or maybe its better stated, when the Wuhan Coronavirus gives you lemons – you make lemonade!
There are some things that I am watching that are important and will be into the future. First, I am watching and concerned about how states and governments are suspending rights and liberties, in our case, given to us by our Constitution. They are doing this in the name of keeping people safe, but there is no reason for you to be arrested for going for a drive in your car like they have done in states like Michigan. This concerns me because when things do get back to some normalcy, will these governments give up this power? It’s been shown through history that they typically don’t or at least not all of it.
The other thing I have been doing over the last 5 weeks is studying epidemiology and reading and listening to the thoughts of the top epidemiologists from places like Standford, Yale, Rockefeller University, and others. And ironically, most have been saying the same things, which concerns me. First, it is important to note in the U.S. that people in charge of the response to the pandemic are not epidemiologists, whose job it is to study and understand how viruses spread and how we handle them as human beings. Don’t get me wrong, the people in charge as some of the greatest medical minds in the world. But, in listening to what top epidemiologists are saying, there are some important things I think we have missed. First, we do not have and may never have a vaccine for the coronavirus. There are some treatments that are showing promise, but nothing on a grand scale.
I found it interesting that almost every epidemiologist has stated that the absolute best way to fight the virus is herd immunity. Herd immunity is when a large majority of the population has gotten the virus, overcome it, and development antibodies as an internal defense. Their argument is that this is what naturally stops the virus because it makes it very hard to spread it once this level is reached. Logically to me this makes sense. If you have 100 people in a room and 80 of them have had the disease and there is herd immunity, it makes it a lot harder for the virus to jump from one person to the next because there are essentially 80 barriers in the way. The next thing they’ve almost unanimously said is that closing schools was the worst thing we could do. Wait, what? Yes, and the explanation is that children are designed specifically as part of their growth and immune system development to be able to get and overcome viruses and diseases as they grow to build up the immunity for when they are adults. The epidemiologists argue that in closing schools, we have hurt our best vehicle for creating the herd immunity that ultimately slows the spread of the virus. They are stating that all we are doing is delaying what inevitably has to happen in nature to overcome a virus. Until we reach herd immunity, it will continue to have its impact and come and go. Again, this logically makes sense to me and why we keep being told that even when we are allowed to come back out of quarantine, that this can come back. It still needs to work its way through. The last point they have made was that we should have focused on the most susceptible groups like the elderly and people with existing conditions and let the healthy go through the process of herd immunity.
Now, whether you agree or not with that, in studying past outbreaks like this, even Swine Fu about 10 years ago, it killed almost 20,000 and infected about 60 million in the U.S. in the span of a year and then essentially disappeared. It didn’t go away. It’s still out there. But, in less than a year, herd immunity took place. The government did essentially nothing. Nothing was shut down. No quarantine was done. In fact, it was hardly mentioned in the news. So, this is something I will continue to monitor and watch in the coming months.
There are few other lessons I’ve take away over the 5 weeks that are important for me to share.
First, I believe that we must prepare for a “new normal” after things begin to come back online and restrictions on our lives are removed. We will not go back to the way of life we were used to before this pandemic. Wearing masks will become a part of everyday life. Distancing ourselves will become the norm. Testing for the virus will become an annual event. Things like going to restaurants will change and tables will be spaced much further apart. They may only allow a certain number of people to sit together. Travel will change dramatically. It already is. I read an article this past week that Emirates Airlines is now requiring a blood test to be able to fly. Can you imagine giving your blood to fly on a plane? Professional and Collegiate sports and organized sports for kids will change. We may not be able to have crowds at events. Close contact sports may be more limited or in the interim be stopped all together. (think football, wrestling, etc.). I could go on with example, but the important thing is that we have to prepare for the changes in our lives and mentally to be able to accept and manage these changes in our lives and adapt to the new normal. The ability and willingness to adapt will be one of the most important skills we can possess coming out of this.
Second, there will be huge opportunities for innovation and new industries as a result of the “new normal.” As they say, necessity is the mother of invention. And with people working from and staying at or closer to home for the foreseeable future, there will be an explosion of new services for you at your home. Many of them will be innovations on what have already existed, but even a small innovation can create a whole new industry. For, example, in home haircuts existed prior to the virus, when a stylist came to your house and cut your hair. Was it a huge industry? Was it something that was reserved for the wealthier? Yes. But coming out of this, there will be a higher demand for such services and thus the prices will come down and the market will grow. Innovation will take place and a whole new version of that industry will take place. Same thing for things like massages, etc. Could Massage Envy pivot to having their people do house calls? Things like this are possible and thus, for those that are innovative and willing to look at things differently, whole new business verticals could be created. AirBnb was a great example of this pre-virus. But, to show you how fast things can change. Post-virus, who knows if AirBnb will be able to thrive at the level they once did. They will have to innovate and pivot I would expect. So, the lessons, innovators will thrive in the coming years.
Lastly, parents have learned that they can school their kids at home supported by the local school districts, so I think we can expect to have more of a blend of schooling with virtual at home classes and going to an actual classroom. People may now be given the choice out of safety concerns and parents will have more involvement in their children’s schooling than previously. I think this is a great thing and I think it will lead to better learning experiences and better overall results for student learning. The lesson for me is that while parents have always been encouraged to be active in their child’s learning, it is now going to be more part of our everyday routine and we as parents have gotten used to it, making it easier for us to be more active in learning. The lesson I am taking is that we should embrace it as it will usher in a new renaissance of learning and development of our children and lead to what I believe is a brighter future.
Hannah, it is clear that we are going through another shift in the way of life of the human race. This has happened many times throughout history and each time has led to the betterment of the society and our lives. Whether it was early man learning to create and use tools and harnessing fire, to the Renaissance, to the American Revolution unleashing the power of the individual and it’s capability, to the industrial and technological revolutions sending us to space and leading to the technological capability we have today – each time our lives changed for the better. The changes that are happening will lead to a different way of life, but one that will ultimately lead to a better one as we innovate and grow into it. Maybe that is the biggest lesson of all.
I love you,
Daddy
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This week’s Misfit Entrepreneur is Tom Libelt. Tom is the founder of Smart Brand Marketing, a company that focuses specifically on helping people better sell their online courses.
Tom has had a very interesting life that basically made him an entrepreneur from the time he could walk and talk. He was born in communist Poland. By 7 years old, he was laying on the back seat of a car smuggling liquor into the country and his job was to cry and scream if immigration stopped them and wanted to check. At 9, he started helping his dad push products at soccer stadiums in eastern Europe. As he says, “He was hustled a few times by Russians and learned his lessons.”
At 11, his family was able to escape communism and make it to the U.S. Tom became an entrepreneur because his family had to use entrepreneurship to survive. He then took those skills and used them succeed in a number of business ventures proving he’s a true Misfit Entrepreneur.
Tom has always had drive toward two different things, music and business. Early on, he focused more on music. He was creating his own music and working as an engineer, but was also working on businesses, etc. He’s tried a lot of things – retail, online businesses, selling products, etc.
He knew how to sell, but wasn’t sure why he knew. He worked from everyone from Nestle to Metlife to learn the art of selling.
Lessons from run-ins with Russians?
What is it that doesn’t change? What can you teach us about how to sell?
At the 11:30 mark, Tom talks about selling online today….
Where is it that most course sellers breakdown? What don’t they do that prevent them from making money?
The main thing is the simplest thing – Does this course make sense and is there a compelling reason to buy it?
How do you help someone create an online course in 14 hours?
How do you market it and make upwards of $30,000 on a course?
Can you give an example of how you market on different platforms?
At the 31 min mark, Tom talks about the challenges of being successful with courses.
What are some of the best entrepreneur lessons you learned from the music business?
At the 39 min mark, Tom talks about why meeting his heroes was such a disappointment and lessons learned from working with “stars…”
“Don’t be the person who needs special slippers and McDonald’s from 34th Avenue to record a track…”
You started a coffee shop in Atlanta, but don’t drink coffee? How did that work out?
Any favorite place you’ve lived around the world?
Best Quote: “Don’t be the person who needs special slippers and McDonald’s from 34th Avenue to record a track…”
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This week’s Misfit Entrepreneur is Sharon Vinderine. Sharon is the founder and CEO of PTPA Media - Parent Tested, Parent Approved. She created the company to help consumers make the best purchasing decisions for their families and it has become the leading global recognition agency for family focused products and services. The Parent Tested, Parent Approved Seal of Approval program helps brands worldwide stand out from their competition and provides instant trust and credibility to consumers. As a result, PTPA is one of the most sought after awards in North America.
In fact, Sharon and PTPA have received numerous awards including the prestigious RBC Women Entrepreneur Award. So, how did Sharon take a simple idea and simple seal of approval and create a massive brand and worldwide standard in just a few years? That's just one of the topics we discuss in today’s episode.
Sharon actually has a tech background and had owned a tech business. When she became a mom, she decided to invest a baby product. She was trying to market the heck out of it, going from store to store to get it on shelves, and was not having any luck. Then, she found an “awards” program that promised if she worked with them, they would help her get her product into stores, get media attention, etc.
She submitted her product to win the award. And she won it. But, the feedback she got was terrible. She got the seal for the award, but found out if she wanted any marketing or publicity, it was thousands of dollars more.
So, Sharon unleashed her inner misfit entrepreneur and decided to compete and do it bigger, better, and build something that would truly help people.
Talk to us about the business…How does it work?
What are the thresholds you use to decide if a product gets the seal of approval?
What should a company that is looking to use a seal or award to recognize their product or service look for in award service and what’s the value of that to them?
What type of marketing should be provided from an award service?
Talk to us about your marketing. How did you get Mr. Wonderful to endorse PTPA?
Tell us more about how you leverage TV…
How did you start building your parents’ community?
At the 21:40 mark, Sharon tells the story of how the Rachel Ray reached out and she thought it was a joke.
What have you found that makes the best pitches to TV?
You have a lot of data – are there any trends you see happening right now or that we can expect?
What are some of the best lessons you’ve in your time in business that have made a real difference for you?
What has been most surprising to you on your entrepreneur journey?
How are you adapting to the global shutdown we are in now?
You started with $5000, an idea, and made it happen. We have people listening right now that are just like you. What is your best advice for those that are in the same position you were?
Look at your idea and present it to a group of people that isn’t family. Use friends or LinkedIn.
Determine if there is a market opportunity.
Your passion must be big enough for the idea to ride the peaks and valleys of entrepreneurship.
Best Quote: “You need to stop and celebrate your accomplishments and give yourself a pat on the back. It is ok to be proud of what you’ve done and realize it from time to time. Entrepreneurs have a hard time doing that.”
Sharon's Misfit 3:
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This week I have special episode for you with a good friend, JV Crum III. In this episode, we are going to share our best thoughts, advice, tips, and information on how to best navigate your business through the global shutdown due to the Wuhan Coronavirus.
For those of you who don’t know JV. He is a serial entrepreneur who became a self-made millionaire in his twenties, a best-selling author, keynote speaker, certified business coach, licensed attorney, has his MBA, and is host of the #1 Ranked “Conscious Millionaire Podcast”, listened to by millions weekly worldwide. Through his Conscious Millionaire Institute LLC, he provides entrepreneur business coaching, training globally.
The reason I wanted to have JV on for this special episode is that he has one of the best minds I’ve ever encountered for seeing the bigger picture and thinking through challenges thoroughly to see and act toward the best outcome. We regularly coach each other in our businesses, as our skill sets complement each other very well.
And in this episode, we are going to interview each other on how to not only survive but thrive during these times.
JV's FREE Weekly Webinar www.Prosper2020Webinar.com
Dave's Trading and Investment Service www.12MinuteTrading.com
CARES Act Detail: https://home.treasury.gov/system/files/136/PPP--Fact-Sheet.pdf
JV, talk to us about the psychological side of this – how does life and business change after this?
At the 9 min mark, I talk about the adjustments to life and the routines that I’ve put in place and had to adjust.
JV: How are kids adjusting to this new way of life?
At the 13 Min mark, JV talks about the 3 ways we can respond to this…
At the 18:30 min mark, I share my thoughts on the mental side and share the story of James Stockdale.
JV uses an example of stating reality as it is with Great Britain’s example.
What will it take for things to get back to normal?
“Stats show wore millionaires are made during recessions and bad economic times than at any other time.”
JV, what are you doing in your business right now to thrive this year and beyond?
At the 36 min mark, I talk about what I am seeing in my business in the travel sector and the impact and reality of things.
At the 41 minute mark, JV shares some of the unique offerings he is doing now.
At the 44 min mark, I talk about what it means to “Be There…”
At the 50 min mark, JV and I discuss the opportunities for small business in the CARES Act in the U.S.
At the 54 min mark, JV and I talk about the stock market.
*We are not giving financial advice in this segment. We are simply sharing our opinions. Please consult your financial adviser when it comes to investing and the stock markets.
It’s time….
Best Quote: "Stats show more millionaires are made during recessions and bad economic times than at any other time."
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This week’s Misfit Entrepreneur is Emmanuel Straschnov. Emmanuel is the founder of Bubble.io, a company that empowers anyone to build software without code. On Bubble, people can start businesses and tech startups without engineering talent or knowing how to code and launch products and whole businesses in just the fraction of the time it used to take. In fact, many of the businesses created today like AirBnb or Twitter could be built with a solution like Bubble. It truly opens a whole new world for entrepreneurs. And thousands of products and companies have started using the platform worldwide.
But Emmanuel didn’t start out to create a solution like Bubble. In fact, at 22, he was a waiter in a Chinese restaurant and went on to become a management consultant in China for a number of years. He and his partner bootstrapped Bubble over the last 7 years and only just recently took on venture backing. It’s the lessons learned in this journey that I’ve asked him to come on and share with you in this episode.
Emmanuel is also very active on Twitter
Emmanuel’s path was not a direct one. He grew up being fairly technical, but at 18 decided that he wanted to be in management and after college took a job with the French Government. After some time, he realized that if he didn’t go abroad early in his life, he would most likely never be able to, so he negotiated a 3 year delay in his start date as a government employee. He wen to China and did management consulting for 3 years. He did a lot of different projects and unique things. After 3 years, he decided to discover the U.S. and ended up going to Harvard for his MBA. It was during this time that he began to get more clear on what he would do with his life. He took an internship in the fashion industry with Prada. It was one of the best jobs he ever did.
He decided to not go into government because it was too slow and to stay in the US and work in the corporate world. During this time, he started to get the entrepreneurial itch to build software. It was a passion for him as a kid and he re-discovered it. He dropped going into the corporate fashion world. He graduated Harvard without a job, but had a mission to become a software entrepreneur.
He started networking across New York, Boston and other cities. During this time, he got connected with his now partner, Josh, who was working on a “no-code” development concept and as Emmanuel says, “Partnered up after the first coffee meeting.” They have built the company together ever since.
Did your experience as a management consultant in China help prepare you to build Bubble?
Did your experience being a waiter in China do anything to help you in your business?
Tell us what you’ve learned about bootstrapping a company…
What advice do you have on getting the first few customers?
You recently took on a funding partner, tell us about it and the benefits so far…
What makes a great business partnership?
What advice would you give a new entrepreneur starting out today?
Best Quote: “If it is an idea where everybody says, “that’s great,” it’s probably not because most likely it would have already been done. But, if it is an idea where most people say, “That’s stupid or not going to work,” but about 5% of people are extremely excited about it and want it – then that is a good idea.”
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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 support@misfitentrepreneur.com. We’d love to share it.
This week’s Lesson for Hannah
Hannah, As I record this lesson, the world is going through an incredible and challenging time. The Wuhan Coronavirus or COVID -19 is sweeping the world and literally causing almost every major country to shut down, including the United States. I know you will have some memory of this event when you are older, but I wanted to document as much of it as I could for you as of the middle of March 2020.
First, for historical purposes, it is important to know how we got to where we are at the moment that I’m doing this lesson. In December 2019, China announced that it had detected an outbreak of a new type of virus in its Hubei province, with a concentration in the city of Wuhan. As of today, there are multiple theories on how it started and right now the leading one is it came from an exotic animal that are bought in markets and eaten in China. Now, we’ve had these types of things happen before in my lifetime. The most notable virus events are SARS, Ebola, MERS, H1N1 – the swine flu, and Mad Cow disease. And because these events did not rise to the level of a pandemic (we’ll talk some stats in a minute), they seemingly came and went without any of the things we are now seeing states and countries do.
Continuing the timeline, it looks more and more like China delayed telling the world that this was happening for a period of time and people were freely allowed to travel in and out of Wuhan. This allowed the virus to spread across the world, very much un-impeded into January. In late January, the United States shut down all travel to and from China as it became apparent that a large epidemic was breaking out. An epidemic is an outbreak of a virus or disease that is localized. A pandemic is one that is worldwide.
As we got into February, things really began to take hold in other Asian countries like South Korea and Europe, especially Italy. At this point, governments around the world began to take more drastic measures and over the next few weeks leading up to today, extraordinary things have been done. These things include, shutting down all travel both inside and to and from countries, quarantining people in their homes, shutting down schools, restaurants, bars, and basically anywhere people can gather. Almost all major sports have come to a complete stop and just about every aspect of life has been touched in some way.
The stock market has crashed into a bear market and fear is gripping nations.
The Coronavirus has symptoms like the flu but is especially dangerous for the elderly which is the group with the most fatalities. Now, at this time worldwide, just over people have been infected with about 60% of them recovering and getting back to normal. About 7500 people have died.
I would be remised If I did not put some context around this. While no one getting sick or dying from something like this should ever be taken lightly, I hope that the extraordinary measures being taken do limit the impact for the world at this time. But with 250,000 infected and 7 billion people on earth, an infinitely small number of people are getting this currently. You can do the math, but it is a decimal point with a lot of 0’s after it. The last major event like this was the H1N1 or swine flu outbreak in 2009/2010. Over the course of a year, 60 million Americans were infected, 12,000 died, and the government did not respond near to what we are seeing today.
At the present time, there are about 12000 people infected and just under 200 have died in the US.
So, why are we seeing the drastic action that is basically shutting down the world and potentially plunging it into a depression?
My truthful answer is that I don’t know. We are being told that the virus is highly contagious and that may be part of the reason. The governments of the world must know much more about this virus than we do to be getting the reaction we are. My other thought is that H1N1 happened a decade ago and while we had the internet, things like Smart phones were just being released for the first time and social media was just beginning. Information did not move as fast back then as it does today and while the speed of information can make our lives easier and offer a lot of great benefits, it also has the ability to be destructive in its ability to work effectively like a virus and permeate quickly through the world. So, when someone panics, many others can follow suit much faster. I think this is why we are seeing people get into fights over toilet paper – sheer panic has gripped them.
So, what lessons can I teach from where we are to date?
First, I am developed my thoughts for this episode while sitting in airport. I took all precautions we have been told to take like using hand sanitizer and wiping things down, not touching my face, etc. But, I don’t believe in emotional panic. I believe in using logic and methodically working through things. There is a chance that I can get this virus, just like there is for everyone. In fact, many of the pandemics from the past are still with us, we’ve just created vaccines and our bodies have created ways to fight them. In fact, the Spanish Flu which happened in the 1920’s and was one of the worst most devastating pandemics ever, killing millions is still with us – most of us have had it. It’s just another strain of the flu. And while we are on the subject of the flu, the common flu will kill 30-40,000 Americans this year alone. It does every year. This is why it is important to me to have perspective and not blindly follow a tweet or a post of panic from someone online. That is a big lesson in and of itself.
Speaking of perspective, the next lesson is that perception is reality for people. Whether you agree with the responses that are taking place or not, it is the reality we must deal with because it is happening. Governments and many people perceive this virus to be worse than things like what we saw with H1N1 and others and whether that materializes or not, the events leading us to where we are have happened. This is an important lesson in that what people perceive and believe in their life becomes their reality. You must understand this in people and for yourself. And it will be people’s perception and belief that things are getting better that will bring us out of this time. Belief is a double-edged sword that can be used for positive and negative. Make sure you use it for the positive as much as possible.
Another lesson is that during hard times, there are still tremendous opportunities. There are amazing deals in the market right now to pick up stocks at fire sale prices. Mortgage rates are at all-time lows for personal and investment property. In my businesses, there is opportunity to gain market share where others are pulling back. Some of the largest businesses we know about today like Hewlett Packard, Allstate Insurance and others, got their start during the Great Depression – there is always opportunity around us if we are willing to look for it and stay grounded. Now, I’m not saying we are in another great depression, but the world will suffer from the effects of this for some time and those that know how to keep their emotions in check, are prepared, and take action on opportunity when it presents itself will do very well.
Lastly, be there for people. Be a voice of reason and understanding. A shoulder to lean on. Listen to others and help them through their challenges as best you can. Give logical insight and stay grounded in facts and not emotional reactions. There are times for emotion and empathy for sure, but not if it makes things worse for you and for others. Make sure the messages you deliver are helpful, move things forward, and lift them up. This is great advice not just times of turmoil, but at all times in our lives.
Hannah, this time will pass, and we will emerge stronger, smarter, and more prosperous in all areas of our lives than we were before. That I have no doubt. I will continue over the next few Lessons to Chronicle this event and share new lessons from it as they become apparent. Just use the knowledge you gain and the lessons you learn from this period to be a light in the world and positive force in all you do.
I love you, Daddy
Best Quote: Belief is a double-edged sword that can be used for positive and negative. Make sure you use it for the positive as much as possible.
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This week’s Misfit Entrepreneur is JB Glossinger. JB holds an MBA and Ph.D. and is the founder of Morning Coach, a daily podcast that has been downloaded over 40 million times! But, even with all the education and advanced degrees, he still credits his “street education” with providing the life-changing lessons that have helped change the lives of hundreds of thousands around the world.
JB left a successful corporate role to to create the life he wanted built around his passions, family, golf, and writing – all within a 3-hour workday. As he achieved this goal, he wanted help other entrepreneurs and business owners turn their dreams into reality and has done so through the morning coach, his masterminds, books, and events.
By working to align his mission, values, and goals, JB has been able to create the life of his dreams and help others to do the same. In this episode, I’ve asked him on to teach you how to do it for yourself.
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JB is from a blue collar family in Indiana and went to school to get his degree – which took him about 6 years. He then ran health clubs for a while, but somehow ended up in the aviation industry.
JB tells the story of how he responded to an ad in the paper to sell helicopter engines because he thought it was cool. He wrote a letter to the CEO instead of sending a resume. He got a call back. He went and met with the CEO one on one because the CEO wanted meet the person who “Wrote the worst letter he’s ever read.” But, they ended up hitting it off and JB got the jobs. So, as JB says, the worst letter he ever wrote got him into aerospace for 15 years.
This led to him buying and selling jumbo jets around the world, making 10x as much as his parents, but was completely miserable. He knew there was more than the job he was doling.
He decided to write a book. He quit his job and spent his savings on ordering the books, spending $5k on an image consultant. And he thought you just went out and started speaking. He quickly found out that things were much harder than he thought. He didn’t sell any books. It was a disaster. He even paid to speak at events and didn’t sell books.
It was depressing. IT lead him to a an evening where a buddy and him were drinking and wallowing in his failure and the friend suggested that his information was good and that he should just a morning message. That was when JB went and found morning coach. He was broke and losing his home. He built a website in a weekend with an opt-in. He started it as a live call each morning and it filled up quickly.
He then read about podcasting and decided to put it out as a podcast. After about 50 shows, iTunes spotlighted his show and we went to 40,000 downloads a day. It was then his life began to shift.
At the 11 min mark, JB and I talk about the journey of an entrepreneur
Why are you the morning coach? What is it that is so important about the morning and success?
At the 21 min mark, JB shares a story of a lady that used Morning Coach and its inspiration and message to get out of marriage of abuse.
You wrote the Sacred Six. What are the Sacred Six?
You coach people all over the world every day, what is the process you take people through?
Are there any recurring themes you see across people?
Explain metaphysics and how it fits into success and entrepreneurship?
Talk about street education vs. formal education – why was it so important for your success?
Selling 747’s? What did you learn?
What has playing golf taught you about life and business?
Titleist or Nike? Titleist!
Best Quote: "With discipline you don’t need motivation."
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This week’s Misfit Entrepreneur is Megan Yelaney. Megan graduated valedictorian of San Diego State Business School in 2009. By 2012, she had started a network marketing business that wasn’t really making money was waiting tables in-between acting gigs and background work on film and television. She was barely making ends meet.
But, in just a short time, about a year, she turned everything around and created a million dollar business. How?
I’ve asked Megan to come on the show and tell her story of how she went from waiting tables and acting gigs to million-dollar entrepreneur – and teach you how you can do the same.
@MeganYelaney on Instagram
Megan was not an overnight success. It took her some time. When she graduated, she did the exact opposite of being practical and using her degree. She went to LA to pursue her dream of acting and fell into network marketing naturally because she was a user of the products. She didn’t treat like a business.
For 1.5 years she treated it like a hobby and made a little bit of money. But then, she had the moment where her life changed. She was at a conference for the company seeing all of these people having so much success and making huge amounts of money and they were no more talented than her. She realized she was sitting on a goldmine and decided to get serious. She committed deeply to personal growth and development. This helped her to better believe in herself and started her taking action.
After a year, she was able to quit all her side jobs and soon after made over 6-figures and became top 50 in the company. But, she felt she had a calling to do more and could be more. She felt she had so much more to offer. It was at this time that company changed from physical products to more digital products and it cut her income almost in half. She decided in 2017 to go all in and start her own coaching and training business.
It was very humbling.
But within just two years, she now has a run rate of over $1 million for 2020.
Why do “pretty” and “awkward” have such big meaning for you?
What were the actions you took to succeed and what do you teach others to do to succeed?
At the 16 min mark, Megan talks about she uses content in her business and the actions she takes with it….
What do you find that works when it comes to content?
Any other thoughts on how to get high tickets clients?
At the 37 min mark, Megan talks about building teams and what helped her to do so in network marketing…
Other lessons learned from building a high level network marketing business that translate to your business today?
The people that keep showing up every day, even when they don’t want to, figure it out and find success.
What has your work in acting and film taught you that translates to entrepreneurship?
Best Quote: Overwhelmed is not having too much to do, it’s just not knowing where to start.
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