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Dave Lukas, The Misfit Entrepreneur_Breakthrough Entrepreneurship

The weekly podcast with serial entrepreneur, Dave M. Lukas, devoted to giving you incredibly useful and unique insight from the world's top entrepreneurs with a focus on their non-traditional methods for achieving success, their Misfit side. Misfit was created to give YOU the breakthrough entrepreneurship strategies and actionable advice to accelerate your success! The show's open format and Misfit 3 concept, combined with Dave's intuitive and engaging interview style quickly uncover each guest's key tools, tactics, and tricks that listeners can start using in their lives right now. Learn more about the show at www.misfitentrepreneur.com and become a member of Misfit Nation by signing up for the Misfit Minute, the FREE weekly email with specific resources from the week's "Misfit 3," and actionable tips and items from the world of Misfit Entrepreneurs. It is delivered every Friday to your inbox!
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The weekly podcast with serial entrepreneur, Dave M. Lukas, devoted to giving you incredibly useful and unique insight from the world's top entrepreneurs with a focus on their non-traditional methods for achieving success, their Misfit side. Misfit was created to give YOU the best, actionable advice to accelerate your success!

The show's open format and Misfit 3 concept, combined with Dave's intuitive and engaging interview style quickly uncovers each guest's key tools, tactics, and tricks that listeners can start using in their lives right now.

Learn more about the show at www.misfitentrepreneur.com and become a member of Misfit Nation by signing up for the Misfit Minute, the FREE weekly email with specific resources from the week's "Misfit 3," and actionable tips and items from the world of Misfit Entrepreneurs. It is delivered every Friday to your inbox!

May 19, 2021

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, This is a very important episode in that it is the 250th episode of the Misfit Entrepreneur. It has been such an honor to do this for all these years and help people, including you, through the world over 250 episodes. My sincerest “Thank You” to all that subscribe and listen. This was a tough one for me as it’s the Big 250. And this episode should stand out. As I thought about all the things I could share as a lesson, I kept coming back to something that on the surface seems small, but really impacts everything.

Hannah, I want to share some insight into a very important distinction that will make a difference in all areas of your life from your relationships to your work and even your health.

The distinction is between Self-Mastery and Self-Gratification. The dictionary defines Self-Mastery in just two words, self-control. But what does truly mean? More on that in a second. Conversely, the dictionary defines Self-Gratification as “the indulgence or satisfaction of one’s own desires.”

As human beings, we are locked in a constant struggle between these two things. For most, Self-Gratification and emotions win the majority of the time. This leads to many problems. I’m not saying that emotions and feelings are not important, but emotions and feelings are just that and are not necessarily truth, logic or even rational. For example, think of something you really, really wanted, emotionally. You had to have it. It didn’t matter the cost. So, you spent the money to have it, thus getting self-gratification, only to later have remorse because you spent too much for it or really didn’t need it. How many times in our lives do we act purely out of emotion and get a short feeling of Self-Gratification, only to find it was a mistake later? I would wager a lot.

Self-Mastery is the other side of the coin. It is developing yourself to have total control over your emotions and thus decisions to help you in making sure the choices you make are reasoned and thought-through. Self-Mastery is learning to recognize the emotional impulses and understand them, but to not act on them immediately without giving sincere and logical thought to them. For example, for years I wanted to get a true sports/muscle car. I had seen an Aston Martin DB9 on the road some years ago and emotionally told myself I had to have that car. I was going to get it no matter what. Did I need it? No. Could I afford it? At that time, no. But, after a few years, I was at a point where I could afford to purchase a $200k+ car. And I saw another one on the road, this time a DB11. My immediately emotional reaction was that I needed to go get it. After all, I’d wanted it for years and deserved it, right? It was at this point, that my training on Self-Mastery kicked in and I started to think about the logic and reality of paying $200k+ for a car. What could I do with that $200k instead? I could invest it and make a great return. I could invest in my businesses and help them to grow larger. A car is a depreciating asset, so the moment I would buy it, it would start to become worth less. Was it wise to purchase something with that amount of money that lost value?

In the end, after thinking rationally and logically, I knew the answer. It wasn’t. But I still wanted a sports car!

Fast forward to when Covid hit. Everyone stopped driving. Car dealers were not selling cars and car companies were getting pretty antsy. They started slashing prices and offering deep incentives. By this time things had a changed a little. When I first saw those Aston Martins, it was before you came into our lives and we didn’t have two decent sized dogs. A two-seater sports car would make things a little difficult. But one muscle car that I had always liked and that had a back seat that could fit you and a dog was the Camaro. I started searching a little and built the perfect Camaro online. It was basically a track ready SS with a 650-horsepower engine in a deep cherry red. I got with my sales guy at the dealership (I’ve owned Chevy trucks for years) and had him start searching. After a couple weeks, he found the exact car down to the line item that I had built, and it was the only one in the 5 surrounding states! He then proceeded the tell me that the dealer had slashed the price on it by 30% to move it and he could not even trade for it. He told me to just go buy it direct from them. Which I did. So, in the end, with a little Self-Mastery and keeping Self-Gratification at bay, I got my muscle car that can go toe to toe with an Aston Martin and got it for 30% off the price as well as some other incentives.

Of course, practicing Self-Mastery is much more important that a car purchase as it impacts your relationships, etc. But I think you get the example.

Just remember, though, there is a balance between Self-Mastery and Self-Gratification. Think of them as two sides of a scale. If you lean to too far to one side, the scale tips and that is where you get into trouble on either side. If you cut emotions and Self-Gratification out completely, you basically are a robot and miss out on some great things in life. If you cut out Self-Mastery completely, you become destructive to yourself and those around you. The secret is to find the balance for you. There will always be things in life that Self-Gratification and emotion have more power over. You job is to recognize them, bring some logic to them, and if you proceed, knowingly understand the potential consequences, good or bad, and be prepared for them. No matter what, you must take responsibility for your actions.

One thing that I started doing when I was first taught the difference between Self-Mastery and Self-Gratification was to “stop, ask, and choose,” when it came to big emotional decisions. You know when emotion is bubbling up inside you and you can feel it when you want something really bad. In those times, just take a moment to stop yourself, then ask yourself if this is truly the right decision and why, and then based on that, choose to move forward or not. I know it sounds a little goofy, but it works, and it is awkward in the beginning to literally stop yourself, ask, and then choose how you will move forward, but it gets easier and almost becomes second nature after a while. This little exercise has saved me countless times and I hope you can put it to work for yourself.

Hannah, finding the balance between Self-Mastery and Self-Gratification is a lifelong work and I don’t believe you can every become perfect at it, but just working on it will make a major difference for you and help you in so many ways. I hope you make the commitment to better yourself in this area.

I love you,

Daddy

 

Best Quote: There is a balance between Self-Mastery and Self-Gratification. Think of them as two sides of a scale. If you lean to too far to one side, the scale tips and that is where you get into trouble on either side.

 

Misfit 3:

As human beings, we are locked in a constant struggle between these Self-Mastery vs. Self-Gratification

How many times in our lives do we act purely out of emotion and get a short feeling of Self-Gratification, only to find it was a mistake later? A lot. So we must find a balance between Mastery and Gratification.

Finding the balance between Self-Mastery and Self-Gratification is a lifelong work

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May 12, 2021

This week’s Misfit Entrepreneur is Clint Pulver. Clint is an Emmy Award-winning, motivational keynote speaker, author, musician, and workforce expert. He’s been a professional Drummer for over 20 years, playing with top headlining fellow musicians in venues like the Vivint Arena, the Stadium of Fire, and the Kodak Theater in Hollywood. Something I want to talk further with him about in a unique way today.

Known as the Leading Authority on Employee Retention, Clint helps organizations retain, engage, and inspire their team members from the front desk to the board rooms and everyone in between. Clint was featured in Business Q Magazine as one of their “Top 40 under 40” as a premiere Corporate Keynote Speaker. He has transformed how corporations like Keller Williams, AT&T, and Hewlett Packard create lasting loyalty through his work and research as the Undercover Millennial. He’s also appeared in feature films and on America’s Got Talent.

Needless to say, Clint is the go-to for teaching leaders how to create organizations that people never want to leave. And I’ve asked him to come on and share his best secrets to help you in your business.

www.ClintPulver.com

When Clint was a young kid, he had a hard time sitting still. Everyone saw it as an issue. He had one teacher named Mr. Jenson who asked him to stay after class in grade school. Mr. Jenson noticed him tapping constantly with his hands while switching back and forth writing with both hands. He said he thought Clint might be ambidextrous. He gave Clint a few tests and said, “I don’t think you have a problem, I think you are a drummer.” He then gave him his very first pair of drumsticks and told him to see what happens.

22 years later, he has traveled the world playing with top musicians and at top venues and speaking. All because someone helped live a better story.

Clint never set out to be a speaker. In fact, he wanted to be a pilot, but had an eye disease he was diagnosed with at 21 that prevented him from being one. He was told we go blind by his early 30’s. When he was younger, he had spoken in church and someone in the crowd approached him to speak at an event they were doing. He got paid $500 and did the event and loved it. He put together a workshop and other groups asked him to speak. He spoke first to High School students, then groups, and then business.

He also started the Undercover Millennial after talking to a business owner he said “You have to adapt or die in business” but ironically didn’t think he needed to adapt his leadership.

He tells the story at the 9-minute mark.

“The perception of leadership vs. the reality of employee experience is many times completely different.”

What is the difference between mentorship vs. management and why is it so important?

  • When an employee hates their job, they talk about their manager. When an employee loves their job, they talk about their mentor.
  • There is leadership, mentorship, and management. • Leaders lead or sail the ship, managers make sure the ship is seaworthy and can continue to sail, mentorship is taking care of the people on the ship.
  • “Mentor” cannot be given to a leader or manager – it has to be earned and your people will decide.

The 5 C’s of a great mentor…

  • Confidence - They exudes trust and have a humble confidence.
  • Credibility – They have the experience.
  • Competence – Competence. People want to mentor with someone who practices what they teach, not just a theorist.
  • Candor – Great mentors create relationships so strong that honesty and trust exists.
  • Caring – The ability to care about the people that they are managing and leading.

What are the 4 types of managers?

  • Two things that determined employee satisfaction. The standards (expectations) of the manager and the connection people had with the company, their manager, their co-workers, etc.
  • Manager Type 1: The Removed Manager. These people are burned out and low on standards and low on connection. They don’t care and are just there.
  • Manager Type 2: The Buddy Manager. These people are low on standards and high on connection. They care about being liked more than they do accountability. This created entitlement.

How does someone walk the fine line of being a leader and a buddy?

  • It is stating up front and consistently that you have expectations and standards.
  • A mentor is not a friend. There is a line. It does not mean they don’t care or won’t help you, but they have standards, and they matter.
  • You then uphold those expectations/standards.
  • Manager Type 3: Controller. These people are high on standards, but low on connection. They are command and control. They use fear to get results – but the results don’t last.
  • Manager Type 4: The Mentor Manager. High on standards, but equally as high on connection. They aren’t always liked, but they are respected, and they get great results. They hold employees accountable, but also back them up.

What are lessons from your experience as a drummer that have translated to entrepreneurial success?

  • Cleanliness. This is a word from drumlines where all drummers are in exact unison.
  • Cleanliness relates to entrepreneurship in that when you work to have everything in lock step and everyone doing their job exactly as they should at their optimum level, you get cleanliness in business.
  • Simplicity. As entrepreneurs, we are so busy boiling the ocean and our “to do lists.” But the greatest entrepreneurs know what they need to stop doing. Drummers are the same in that great drummers don’t add things in where they aren’t needed, etc.
  • The basics done well make the difference.

What are best tips on how to communicate effectively as a leader?

  • Every audience is asking the question, “Let me know when it gets to the part about me.”
  • We have to bring the sense of humanity back into our conversations.
  • Make sure it is not about you and that those are finding value from what you are saying.
  • Always have the audience, the customer, interests in mind.

Other entrepreneurship lessons you feel people should know? • The ET Theory. This is based on the movie ET.

  • At the 42 min mark, Clint shares the theory and it’s best to listen.
  • ET dethroned Star Wars and was the #1 grossing movie for 11 years straight.
  • It sold over $6 Billion in just ET dolls/toys.
  • ET was iconic and the process to create a lasting character is the same for a great business.
  • #1: Concept – what is the idea?
  • #2: Illustration/design – writing out and draw the character – it is the same in designing a business.
  • #3: Sculpting – this is where you see the character for the first time.
  • #4: Casting/Molding – the core of the character like the core of a business
  • #5: Mechanics – How to make it move, etc. In business, this is marketing and how you will make the business go.
  • #6: Fabrication – it comes to life, just like a business will if you follow the process.
  • The details are the most important. Every brick carefully and thought through. This creates quality.
  • If you create an ET out of your business, you create something timeless.

 

Best Quote:  We are not getting out of this life alive. Be a “do it, did it, done it,” NOT a “woulda, shoulda, coulda.”

 

Clint's Misfit 3:

  1. Get really good at creating a “to don’t” list. Get good at what you need to stop doing.
  2. To live is the rarest thing in the world, for most people just exist and that is all - Oscar Wilde. We are not getting out of this life alive. Be a “do it, did it, done it,” NOT a “woulda, shoulda, coulda.”
  3. It’s not about being the best in the world, it’s about being the best for the world. Significance over success.

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May 5, 2021

This week’s Misfit Entrepreneur Travis Chambers. Travis is the founder of Chamber Media, a firm that takes companies from being product and service sellers to brand builders by doing what he calls story selling through creating scalable social video ads that drive millions in sales.

Travis led distribution and content strategy for “YouTube’s #1 Ad of the Decade,” Kobe vs. Messi which amassed over 140 million views. He’s worked with some of the biggest brands in the world including Yahoo, Kraft, Old Navy, Coca-Cola and has been featured in AdWeek, Forbes, HuffPost, and Inc. Magazine. Travis regularly speaks at conferences such as INBOUND, the Bill and Melinda Gates Foundation, Google Growth Summit, VidCon, and VidSummit among many others.

But, what I love most is that Travis built his business to suit his lifestyle. It was goal from the start. And I’ve asked him to come on share how to do it.

www.Chamber.media

Everything started when Travis was a kid with 8 mm cameras. He got into the film industry and in his early 20’s had his first kid, his dad got Parkinson’s disease…and cancer…and divorced after working 70 hours per week his whole life. Everything hit him at once. He was working at 20th Century Fox in his dream job making commercials for the movies. Entrepreneurship had never crossed his mind. His “mid-life crisis” hit when he was 23 years old and made him ask what he really wanted to be doing with his life.

He realized there was so much more out there, so he left and started Chamber Media to live life on his terms. What are those terms for you, your ideal lifestyle?

  • Autonomy and flexibility
  • Time with family (his was missing the early years with his kids)
  • Work needs to be means to an end
  • Find something you don’t hate that you are good at, that makes you the money for your lifestyle.
  • This is one of the reasons his company has a 4-day workweek for all employees. He could not get this from a job, so he created it and helped others get it.

Where does someone start? What do they need to consider to build a lifestyle business?

  • You cannot go and compete in a mature market – it is a race to the bottom.
  • Zero to One by Peter Thiel had a big influence on Travis.
  • You should never start a business that cannot be a monopoly. It needs to be so unique and so much its own thing that it can’t be easily replicated – you may get competition, but they can’t do it exactly like you or get the results you can get.
  • Find your “blue ocean”

“Start with a service first. You can always sell yourself as an entrepreneur. And if you can sell yourself to one person, you can sell yourself to 100 and have a successful business.”

  • Get good at your primary niche before branching out.

Tell us about what you do and your principles you used to build and now run your business…

  • In the Art of War, one of the main rules is to choose the battlefield.
  • Too often people see a market leader and think they can do it. At that point, it’s too late. Once there is market leader in a mature market, the game is over.
  • You’ve got to choose the pond that is growing into the ocean.
  • The niche Travis found was video ads and buying them doing them before Facebook ads, etc. had even come about.
  • Knowledge does not equate to wisdom. You have to understand industry in and out and use the wisdom gained to see the future.
  • You cannot get good at anything until you say no to almost everything.
  • The values of having a lifestyle business, staying boutique, etc. were extremely important and governed how they operated. Starting out they would only take on projects of $100k in above and would turn down ones below that.
  • 5-6 years in, Travis and the team noticed that they really had a strong leadership layer and had replicated themselves and could now really scale.

What have you put in place to allow the business to scale and let you step away?

  • People and process.
  • A lot of things broke as the company grew and their processes got seriously challenged and had to be worked through and improved over and over.
  • Hiring people with the same values, hopes and dreams, and direction that the team has. They also have to believe what Travis and the team believe. Things like making a little less to have a 4-day workweek, etc.

What is the most important lesson you’ve learned on your journey so far?

  • The art of doing nothing.
  • Being too aggressive can be the wrong route and Travis is prone to it.
  • Surrounding himself with a leadership team that balances him ad helps bring logic as a group.
  • Most problems don’t have to be solved “today.”
  • Emotion kills.

What is a “Story Seller?”

  • A lot of the Fortune 500 focus heavily on building brand and making people feel a certain way about.
  • When you are a small brand, you cannot play the same game as someone with a 100-million-dollar marketing budget.
  • When you are small the best way to go is direct response marketing. It’s the only way to grow.
  • Over the last 30 years, direct marketing has been primarily infomercials and direct mail.
  • You can’t do that with digital or social as people have too much choice. They scroll quick through the newsfeed.

At the 34 min mark, Travis talks about developing the “Everything Ad” and how they did it and the results of it. It is best to just listen.

What makes a #1 video ad? What are the components that go into it to drive engagement and sales?

  • 7 Ad categories perform best and vary by industry.
  • Category 1: Spokesperson Video. It’s the highest performing. Only 2% of the top 1% of ads are spokesperson which offers a lot of opportunity.
  • Category 2: Product Demo. 50% of the ads are product demos.
  • Category 3: Social Proof. Press reviews, consumer reviews, ratings, etc. Anything to prove the solution is good.
  • Category 4: Dynamic Ads. Creative that is made based on what the person has seen.
  • Category 5: Case Studies. Any kind of empirical evidence that appeals to logic. Before and after, side by sides, scientific, etc.
  • Category 6: Lifestyle. Showing what could be or feel like if someone had the solution.
  • Category 7: Unboxing. Think Christmas morning and opening the surprise, etc.
  • What Travis and his team found by chance is that most of the successful ads that they have done have all 7 of these in them in some way and you should strive to do so in yours.
  • The Everything Ad ideal length is 90 seconds. Hook, Teaser, Problem, Solution, Another Problem, solution while weaving in all the categories (Spokesperson, social proof, unboxing, etc.)

Anything else around marketing with video we should know?

  • Pay attention to the news.
  • Apple has highjacked Facebook somewhat. Apple has blocked the ability for ads to continue without an opt-in on its platform which is causing a big drop in ads being served.
  • Travis explains everything that Facebook knows about you, a lot of it coming from paying credit card companies for data.
  • Facebook is going to become more like TV as they won’t be able to retarget at the levels they have been able to do in the past, so the ads are going to really have to make an initial impression to stick.

 

Best Quote: Start with a service first. You can always sell yourself as an entrepreneur. And if you can sell yourself to one person, you can sell yourself to 100 and have a successful business.

 

Travis's Misfit 3:

  1. Work to live. Don’t live to work. Success and greatness are not the most important thing. Be truly present.
  2. Smart has the brains, but stupid has the balls. You can get really far with grit and strategy.
  3. You’re live will be judged by how you treat people, either by a higher power or by yourself depending on what you believe.

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Apr 28, 2021

This week’s Misfit Entrepreneur is Jackson Millan. Jackson is the CEO of Aureus Financial, a firm dedicated to helping entrepreneurs turn the success in their businesses into to personal wealth. Over the last 14 years, Aureus has helped entrepreneurs create over $1.2 Billion in combined wealth from implementing Aureus strategies.

The company has been featured everywhere from the Today Show to Money Magazine and Jackson and his team show entrepreneurs how to maximize their business cashflow, reduce their time spent in the business, and create personal financial freedom.

Mmm….make more money with less time and achieve financial freedom faster? I think just about anyone would want to learn more about how to do that. So, I’ve asked Jackson to come on and share his secrets on how to do so.

The 40 point business performance scorecard https://bit.ly/AureusScorecard

Free FB group where people can get access to my books and best content http://bit.ly/YLBGroup ​

https://www.aureusfinancial.com.au/

Jackson starts out by telling the story of why he is traveling around Australia for a year right now.

Jackson’s journey started as a child. His mom was a hairdresser, and his father was very much an entrepreneur, but jumped from one thing to the next without sticking with them too long being more a dreamer. He was taught to work hard but realized there was a harsh reality of a disconnect because his parents worked 15 hour days and they had no wealth.

At 19, he decided to become a financial advisor and would not take no for an answer. He got a shot at a firm, but says it was literally disgusting, like Wolf of Wall Street type stuff. It was toxic. He thought he made a massive mistake. People were selling commission-based products to people that didn’t need them and thought about quitting.

Instead, he thought long and hard about how to do things right and what he really should be and that was a “wealth coach.” Someone who educated clients around the language of money and empowers them to grow their wealth.

You’ve said that most entrepreneurs struggle to achieve financial freedom…explain that.

  • The fundamental issue that most entrepreneurs face is that they are so actively involved in their business, it becomes the be all and end of all their existence.
  • The business can become a trap of a cash-eating monster that continually needs fed by the entrepreneur instead of what it should be – an investment vehicle.
  • The big problem is behavior. As humans, we use the means we have available. The more means we have, the more we use.
  • In other words, people tend to spend what they make increase their spending and lifestyle as their income increases.
  • There is a lot of cashflow that flows through a business and most businesses aren’t managing it effectively or well enough to have it produce the freedom it can produce.

How do we use a business to its full potential? What entrepreneurs be doing to make the business a true investment vehicle?

  • First, the business needs to be repositioned as the vehicle and define the destination.
  • Annual Roadmap: Goal setting exercise thinking 20 years into the future. We focus a lot on short term vision, but it’s the long-term vision on 1, 5, 10, 15, and 20 years that makes a difference.
  • What you plan for in 20 years will change, but does that mean you shouldn’t do it?
  • Segment the 2 types of goals. You should be able to have your cake and eat it to.
  • Map out all your lifestyle and income goals and then back into the cashflow the business has to generate to create this.
  • Then, you look at the business to see how to re-engineer if needed to achieve that cashflow.

What is the Million Dollar Mindset?

  • If you keep trimming the fat, you are going to cut into the muscle.
  • You should not shrink yourself wealthy.
  • Most are not intrinsically motivated to defer gratification.
  • We must live for today and plan for tomorrow.

At the 15 min, Jackson explains the million-dollar mindset using the marshmallow experiment.

  • Delaying gratification is good, but it is important to figure out how to play the game to win in context of what you want – not settle.

What practical tips can people do to keep this forefront?

  • We need to write the rules. At the end of the day, it is your game.
  • Come up with your 10 commandments: 10 guiding rules that are non-negotiable when it comes to making financial decisions for themselves and for their businesses.
  • We never bad decisions on purpose. We make the best decision at the time. But with rules to follow, it can help us to make better decisions in the moment and increase their quality.
  • The higher the quality of the decisions we make about money, the higher quality of outcomes we get.
  • Next, you need a cashflow mechanism that holds you accountable. Jackson talks about this at the 20 min mark.
  • Your cashflow system needs to pay yourself first. Save first and spend what is left.
  • Success and creating cashflow shouldn’t be sexy. It is consistent and almost boring.

What are ways entrepreneurs can free up cashflow?

  • Create a bucket strategy.
  • 5-6 banks accounts Your main account is your income account where all your money from your clients, etc. comes into.
  • Remove expenses from the income account and put those in a Cost of Sales account where you pay those bills out of.
  • After subtracting cost of sales is real revenue that you operate your business.
  • An operating account is used to manage these fixed costs – salaries, rent, etc.
  • You want to have an owner’s pay account to pay your #1 employee, you.
  • Then you will need a Tax account to save for taxes.
  • Then you will have a profit account.
  • You then fill them in this order: Profit Account, Tax Account, Owner’s Pay, Operating.
  • Revenue – Profit = Expenses, not Revenue – Expenses = Profit

Talk to us about building a 7-figure lifestyle business…how do we do it?

  • Jackson’s first business failed tremendously.
  • He started a fashion business and taught himself on the go.
  • He had some success in getting known and some sales, but the business was hemorrhaging cash.
  • He wasn’t passionate about it and he built for the blind pursuit of money. A big mistake.
  • He was burning the candle at both ends hating it.
  • He was deep in debt, but knew he had to get rid of it, so he did.
  • He went back to his roots and his passionate focus which was helping people learn to have financial success creating a 7-figure business.
  • How did he do it?
    • He got educated and self-educated on what he needed to know. The right strategies.
    • He created a game plan – a 1 page game plan framework that was a working document that gave clarity.
    • He then focused on his numbers and started tracking everything in his business so he could predict, forecast, and run the business more efficiently.

What has surprised you most on your journey?

  • How difficult it is to get yourself out of the technician role, the doing, and become the leader building he business systems, teams, etc.
  • Are you building a business around you or a business that can be scaled?
  • Are you building it for you to be the hero and to feed your ego? Is that the right way?

Books that made a big difference for you?

  • 4 Hour Work Week by Tim Ferris
  • Unshakable by Tony Robbins
  • The Alchemist by Paulo Cuoelo

 

Best Quote: Revenue – Profit = Expenses; NOT Revenue – Expenses = Profit 

 

Jackson's Misfit 3:

  1. Create your 10 Commandments. We need guiding principles for life and our finances that can be our compass.
  2. Complete the annual roadmap. Go through the 20-year roadmap exercise and do it with your significant other independently
  3. Create a time where you can review your finances for 90 minutes once per month – Your Money Meeting.

Show Sponsors:

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Apr 21, 2021

This week’s Misfit Entrepreneur is Carl Gould. Carl Gould is a worldwide leading authority on business and entrepreneurship. He is an entrepreneur who built three multi-million-dollar businesses by age 40. His company, 7 Stage Advisors, has mentored the launch of over five thousand businesses. Some of the companies he’s helped are companies like Allstate, American Idol, USA Olympic Track, IBM, McGraw-Hill and the US Army.

Carl created the farthest-reaching business mentoring organization in the world, and his methodologies are in practice in 35 countries. He has trained, certified or accredited over 7,000 Business Coaches and Mentors since 2002.

He has also written multiple books on the subject of business strategy, leadership and sustainable growth. He co-authored “Blueprint for Success” with Stephen R. Covey and Ken Blanchard; and his best-selling book, “The 7 Stages of Small Business Success”, lays out the formula for HyperGrowth. Needless to say, Carl is a wealth of entrepreneurial wisdom and I’m going to do my best to get everything I can out of him in our time together.

www.CarlGould.com

www.7StageAdvisors.com

Free business analysis to show the true potential of your business – can get it on the site.

Carl’s journey started in college. He was an accounting and finance student. He broke his leg pretty badly in his second year and had to leave school. He found himself with a broken leg that took 6 months to get better, broke, and needing to make money.

He started a design/build landscape company and doubled it every year for 7 years then sold. Then in the early 90’s, he started a construction company and grew it to 2004. He started coaching in 1990 after going through certifications. It was his side hustle in the 90’s. He then started his coaching/strategy business in the early 2000’s.

His passion is coaching and guiding small business owners. He still invests in other companies, real estate, etc.

What is the one thing you think matters most for success as an entrepreneur?

  • Absolute 100% dogged determination.
  • Among all the traits of entrepreneurs, resilience and determination are most critical.
  • Adversity is always there, and the key is to keep getting back up and doubling down on yourself, your business, and you clients.
  • If you keep showing your commitment that you will serve no matter what, you will see it through.

At the 8:30 mark, Carl shares his view on the short attention spans we have and how he sees it in context of success…

  • The level of content has gotten so good that people are better educated consumers.
  • People don’t cancel what they love, they cancel what stinks and is boring.
  • They can see through it.
  • It’s exciting because you have to be so on your game, but are rewarded, almost unfairly when you are.
  • People are hungry for greatness.

Take us through the 7 Stages of Growth and Business Success…

  • Carl developed this in the 90’s. It is model that has been validated over the years.
  • Stage 1: Strategic Planning Stage. You need to have a compelling and inspiring vision and plan for the business.
  • Stage 2: Specialty Stage. This is where you build your expert authority in your niche.
  • Stage 3: Synergy Stage. This is where you build a team that is aligned with mission, vision, values, and purpose.
  • Stage 4: Systems Stage. Document and build out the ecosystem to scale the business.
  • Stage 5: Sustainability. You are starting to be known for something other than the utility of your product or service.
  • Stage 6: Saleability. You maximize the value of your business and it is now an asset. There is also where you are mature and doing things like buying other companies or going public, etc.
  • Stage 7: Succession. This is when a legacy business is born and is lasting.
  • Sequence matters. You have to go through each stage and maximize it before going to the next one.

How does and entrepreneur execute in each stage?

  • It is like going through the years of school.
  • You have to fully immerse yourself in each stage.
  • You have maximized stage 1 if you can answer the question, “What is so compelling about my business that my customers would be willing to leave from where they buy from now and buy from me and pay a premium? Would my competitors’ employees be willing to come work for me and earn less?
  • In stage 2, you know you an expert when someone reaches out to you unsolicited and asks you for advice on your niche that is in the same industry.
  • In stage 3, you know you have maximized if people are fully bought into your vision and do whatever it takes to help the business successful.
  • In stage 4, you make the internal commitment to systematize every area of your business and have “your company way.” Once, it is fully documented and mapped out, you’ve done.
  • In stage 5, you’re like a franchise and can expand and duplicated what you’ve done.
  • In stage 6, you are building your management team to run the business instead of just you, the owner.
  • In stage 7, when you can fire yourself and the next generation can take over, you’ve done it.

What are some of the biggest traps entrepreneurs fall into and how do we avoid them?

  • Stage 1 planning is typically inadequate.
  • Entrepreneurs fall in love with their product instead of falling in love with their client. They should focus on the client first.
  • Pricing is also a trap/mistake entrepreneurs make. You need to charge what your value is. Don’t get people to “just pay for your service.” You need to be a premium because you are bringing tremendous value – where you need to be good is at articulating the value.

Best advice for building rapport and influences? What are some of the best practices?

  • The basis of any relationship is your ability to build rapport.
  • There is a science of how we build, maintain, and nurture rapport.
  • First, know your client by knowing behavior and personality styles (DISC, etc.)
  • Rapport is the relationship of sameness, likeness, and commonality and it is an involuntary response – getting someone to like you.
  • How we do anything is how we do everything – remember that. People have tendencies and are creatures of habits.
  • Your ability to align with people’s tendencies and habits helps you build rapport.

Thoughts on leadership and how to be a successful leader?

  • You need to be willing to do whatever you’re asking of someone, or have done it.
  • You need to be willing to let someone else take the lead.
  • You can be a leader from the front or the back (you can go first paving the way, or go last letting everyone else get the credit)
  • You walk the talk without the talk. Do it and demonstrate the principles you want followed. ​

Anything else we should know?

  • Outsourcing and building remote teams is a very important skill to learn.
  • Your ability to “staff to valleys and are prepared for the peaks with variable costs.” This may be having contractors ready during peak times and not using them during slow times to help you manage the business better.
  • The best way to remain nimble is to be good at expanding and contracting the business as needed to maximize your business.

 

Best Quote: Hustle. You can hustle your way to success. 96% of entrepreneurs never make it to $1 million in revenue. You absolutely can hustle to more than that.

 

Misfit 3:

  1. Hustle. You can hustle your way to success. 96% of entrepreneurs never make it to $1 million in revenue. You absolutely can hustle to more than that.
  2. There is less competition for the #1 slot in your niche. Go for #1. There is the least amount of competition to the be the best. Your clients will see this and love you for it.
  3. I hereby decree, I hereby promise that I will not discount my way to market share. I will charge accordingly for my value.

 

Show Sponsors:

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www.Uber.com/Misfit

5 Minute Journal: 

www.MisfitEntrepreneur.com/Journal

Apr 18, 2021

Hello Misfit Nation! I am excited to bring a special weekend episode of the Misfit Entrepreneur. Occasionally, I find something I truly enjoy and when I do I like to share it with you. In 2021 I’ve started listening more to the immersive shows on Wondery. If you haven’t checked it out, you need to do so.

Recently, I was able to connect with them and they offered to share a small sample of one of their new shows with the Misfit audience and that is what I want to share with you in this short special episode because it focuses on one of my favorite topics – the stories and successes behind some of the most inspiring businesses, creative innovators and intrepid entrepreneurs.

Secret Sauce is one of Wondery’s newest series, hosted by John Frye and Sam Donner. First up, they’re diving into the company that revolutionized how we vacation, travel, and even how we trust other people... Airbnb.

In 2008, Air Bed and Breakfast launched at SXSW (South by Southwest) with high hopes of becoming an alternative to overbooked hotels...but they ended up with just two people booking a stay...and one of them was a co-founder of the company. How did Airbnb persevere through adversity to become a company that would forever change the way we think about travel? What was their magic - their secret sauce - that made them such an unlikely success story? And what lessons can we learn from them?

You’re about to hear a preview of Secret Sauce. While you’re listening, subscribe to Secret Sauce on Apple Podcasts, Spotify, or listen early and ad-free in the Wondery app by going to wondery.fm/SS_Misfit

Enjoy!

Apr 14, 2021

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, I want to speak to you about sacrifice. Your life is going to be filled with it. When most people hear the word sacrifice, they think of it in a negative way. But I want you to know that sacrifice, more often is good and brings good into our lives.

No matter who you are or your status in life, life is hard. It is full of twists, turns, wonderful moments, amazing experiences, happiness, sadness, love, suffering, and sacrifice. And each person has to navigate life in their own way and each person will work through the challenges of life in their own way.

But, if we can build a positive relationship with sacrifice and see it for what it is – a natural steppingstone to bettering our lives, we can use our sacrifices to make ourselves better, create opportunities, and have a better life.

What do I mean? As we go through life, we will encounter challenges in every area. We will have challenges in our work lives, in our personal lives, and even be affected by things we cannot and do not have control over. You will have to make sacrifices all the time.

A sacrifice is really a choice. Many times, it is a choice between what is right and hard, and what is easy. It is very tempting to take the easy path and not go through the struggle. But the easy path many times leads to bad outcomes. For example, it is easier for a married couple having issues in their lives and marriage to get a divorce than it is to work on the problems together and overcome them. But those that do make the commitment to work together to overcome their challenges come out with stronger, more loving relationships and are happier than those that don’t. At least I can say that is what has been shared with me from those I have spoken to over the years who have been in those situations.

By the same token, it is easier to set aside big problems in business and one’s work and just pretend they don’t exist. This avoidance usually leads to the problem growing bigger and festering to a point where it must be dealt with and at that point it is much larger and more painful than it would have been if handled earlier.

I’ve made many sacrifices in my life, so has your mother. And we will continue to have them and to make them. I know that sometimes, in making the sacrifices it makes things harder in the short term, but in the long term, it is worth it. I think you’ve seen this already even as young as you are. If you’ve ever heard of “delayed gratification,” this is where it comes from. Making a sacrifice in the short term for a bigger gain in the long term. I know and trust in that if I make a sacrifice for the right reasons, it will turn out good in some way, shape, or form in my life and it almost always does. Delayed gratification has paid off for me big time over the years. Therefore, I do not shy away from these times in life, but welcome them and am prepared for them as best I can be.

I hope that you can learn to do the same. To embrace that life is full of sacrifices, choices we must make – and that as much as possible, we must make the right choice, even if it is hard, maybe even painful in some way in our lives. Just know that it is worth it. The pain will be short-lived and lead to a better, richer life, and make you stronger.

Hannah, don’t be afraid of sacrifice. Embrace it and watch for the good that comes from it.

I love you,

Daddy

 

Best Quote: A sacrifice is really a choice. Many times, it is a choice between what is right and hard, and what is easy.

 

Misfit 3:

  1. When most people hear the word sacrifice, they think of it in a negative way. But I want you to know that sacrifice, more often is good and brings good into our lives.
  2. A sacrifice is really a choice. Many times, it is a choice between what is right and hard, and what is easy.
  3. Embrace that life is full of sacrifices, choices we must make – and that as much as possible, we must make the right choice, even if it is hard, maybe even painful in some way in our lives. Just know that it is worth it.

 

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Apr 7, 2021

This week’s Misfit Entrepreneur is David Shriner-Cahn. David is the host of the wildly popular Smashing the Plateau podcast and his business helps consultants and coaches build their business following their careers as professionals employed in the marketplace. Simply put, David helps employees’ transition to thriving entrepreneurs.

He has been features in Forbes, INC, and many other outlets and is also a popular speaker. David’s mission to help people become entrepreneurs was born out of his experience of being a highly successful employee for 28 years only to wake up one day and be told it was over. He had to go through losing his job and identity to finding a new path as an entrepreneur and his experience and what he has learned can help so many that are in the same situation, so I’m excited to get into it.

www.SmashingthePlateau.com

David has a master’s in engineering from Cornell. He worked as an engineer early in his career and then transferred after a job loss to the not-for-profit sector. He had no formal training to become a not-for-profit executive and did that for 23 years. He had plateaued in the organization and could not become the CEO as he was in the #2 position. He decided that it was time to scratch entrepreneur itch he had most of his life and became a consultant.

He had built a network that he used to start his business.

What do you think is the hardest part about transitioning from an employee to entrepreneur? And talk to use about “chicken entrepreneurship.”

  • The challenge with “chicken entrepreneurship” is deciding when you are ready.
  • You real need to be mentally ready.
  • The first step is the hardest piece for everyone.

What does that look like to be ready in your mind? How does someone know?

  • Most of the time, you don’t know.
  • It is when you have enough courage to jump and do it.
  • What most have never done is the business piece – building and running a business day to day.
  • The knowledge base someone has gained from their role over the years to solve a problem and set of problems is important to build your business around.
  • You won’t know how to do everything, but you must be willing to work to figure it out as you go and take it as it comes.

Thoughts on the mind shift that has to happen?

  • Its both a mindset and behavioral shift.
  • If you are employee and are wrong 10% of the time, you are going to hear about it and not in a positive way. If you are an entrepreneur and right more than 10% of the time, you are probably doing well. It’s a big change to get used to.
  • As an entrepreneur, you are going to try and fail all the time to succeed.

Is there a process people go through to manage the transition from employee to entrepreneur?

  • It’s very helpful to have time for reflection and take some time not focused on producing income. You need time to focus inwardly.
  • You can also see if you can get a role that is time limited, a short contract gig to pay bills while you get your business going.
  • Step 2 is getting in touch with a few things about yourself and your impact.
  • Understand what you love doing the most and are committed to.
  • Get clarity on what it is you are most competent and doing – they may or may not be the same as what you love doing. Find the intersection of them.
  • Then decide who you want to serve and what problem(s) you will solve for them.
  • Next, do a little market research to determine there is a market and potential clients. Talk to them and see if they would hire you to solve the problem(s).
  • You then need to test and start trying things and iterate.

Talk to us about the business side and running the business once up and going…

  • How much money do you want to make? Margins matter because it is almost impossible to make up low margins with volume.
  • You need to think about how many hours you want to put in. You can make more money, but not more hours.
  • How much do you want your business to be about your own personal brand or not? How much is it based on you? This determines how you design things.

At the 27 min mark, David and I talk about why most people don’t get what they want… What are some of the best resources and tools you’ve found to help entrepreneurs?

  • First, manage your processes with pencil and paper or typing out the steps.
  • Pay attention to things that are repetitive.
  • Once you track then, you can create systems that are repeatable around these processes so they can be handed off to others.
  • Once you’ve done this, it will start to show what types of solutions you need to put in place for these needs such as technology, apps, virtual assistants, or assistants, etc.

At the 33 min mark, we discuss the #1 cause of business failure…

  • The #1 cause is cashflow and managing it properly.
  • Have appropriate cash reserves for hard times
  • Sales is not cashflow. You have to collect the money.

Best practices around life/work design?

  • We are whole human beings, and we need to integrate.
  • It should all be working toward our higher purpose. So be very clear as to what this is.
  • Clearly define your goals.

Other advice for entrepreneurs?

  • Apply for credit when you don’t need it because that is when you are most likely to get it.

 

Best Quote: If you are employee and are wrong 10% of the time, you are going to hear about it and not in a positive way. If you are an entrepreneur and right more than 10% of the time, you are probably doing well. It’s a big change to get used to.

 

David's Misfit 3:

  1. When you are faced with a major transition, take time for self-reflection. You will be much better off for doing so.
  2. We do much better when we create structure. Most importantly, have a structure to create a positive mindset at the beginning of the day.
  3. Be prepared to iterate. Breakthroughs are what others notice after you have taken hundreds or thousands of pivots.

Show Sponsors:

The Good from Caldera Labs

www.CalederaLab.com/MISFIT (allcaps)

ROI International:

www.ROIINTL.com/Podcast 

 

 

Mar 31, 2021

This week’s Misfit Entrepreneur is Anna Parker-Naples. Anna is he host of the #1 international podcast, Entrepreneurs Get Visible. She is the #1 best-selling author of Get Visible: How to Have More Impact, Influence and Income, and Podcast with Impact: How to Launch Your Podcast Properly.

She has been recognized as the National Businesswoman of the Year and finalist for SME’s National Entrepreneur of the Year. And if that is not enough, her audio skills have caught the attention of Hollywood and she’s been honored there.

But Anna’s story has some major twists and turns and what I love most about her is how she learned to blend strategy and mindset together to overcome massive challenges and achieve greatness. Of course, she’s not too bad at teaching entrepreneurs how to seriously grow their visibility and I can’t wait to get into all of this with her.

www.EntrepreneursGetVisible.com

Anna came into the entrepreneurial space a few years ago. 4 years ago, she was working as a voice actor receiving awards on the red carpet in Hollywood for her work. 6 years before that, she was told after a complication with a pregnancy that she would never walk again. To be fully recovered and at the top of her game on the red-carpet years later made her realize that others can do what she did and that there was a process to that success, so she started her business, podcast, and speaking.

How did you from being not being able to walk to walking on the red carpet? What was the transformation?

  • Anna was as broken as you could imagine.
  • Before having children, she was a stage actor.
  • She could hardly get out of bed or function with the amount of pain she was in.
  • She had a moment on a New Year’s Eve where she realized that she could no longer stay in her frame of mind.
  • She went to a therapist. They talked and the therapist questioned her views of the world using NLP.
  • This got her to think 2 things. What is she was in a wheelchair the rest of her life, but was highly successful and her work could still be seen all over the world? And What if the doctors are not right about your body and could heal itself?
  • Thinking about those things sparked a new view on her potential and started her on her path.

At the 9 min mark, Anna tells a story about she was carried into a job interview and how it was presented to her to have a home studio to do her work.

At the 10 min mark, Anna and I discuss the power of the mind what working on your thoughts can do for you.

  • It is a constant work in progress.
  • Many of the things we tell ourselves are not true and are just limiting beliefs.
  • What happens if you decide to think something different about yourself? You’d be surprised.
  • Everything is choice in our lives. It is not rocket science, but it starts with how you think.

At the 14 min mark, we talk about how everything begins with an idea, a thought in our lives.

How have you learned how to blend your mindset with strategy to exponentially grow results?

  • Anna uses the term “envisioning.”
  • You envision everything. Where you want to be. Who you are clients are. How much you are making. Who you surround yourself with, etc.
  • Podcasting is a great medium to get in front of the clients you want and also, as a podcaster to bring guests on your show that you want to network with and have in your world. Be strategic and deliberate about it.

Is there a process for envisioning?

  • Yes, it is called the 10 Pillars of Purpose and Profit.

Listen at the 18 min mark as Anna goes through the 10 pillars.

  • Good book called the Micro Pitch Script by Bill Slay to help you hone your message and how you connect how you impact and help others.

“Make sure you are not positioning yourself at the bottom for the heap. Strive for the top. There is much less competition there.”

Confidence is key to get visible, explain that…

  • Everything is a choice.
  • People choose not to put themselves or their content out there because they are not confident in themselves.
  • But you have every right to put yourself out there and share your talents.
  • Confidence comes from changing how you think and recognizing that is it ok and safe to fail.
  • Be willing to be yourself in front of others knowing you cannot and will not ever be a fit for everyone, but you will for enough.

Talk to us about gaining visibility and things people should be doing to stand out…

  • Podcasting is the fastest growing medium with the highest conversion rates, so you need to have a strategy.
  • On social media, are you communicating a consistent message and story across your different channels?
  • Use story to share more about you and let people in. Connect!

Best practices to start, run, and grow a successful podcast?

  • It starts with solid planning.
  • Get clear on your message, your target audience, your funnel, any products, etc.
  • Treat the launch like it matters. It is a unique window of opportunity where the algorithms are on your side.
  • Have good production quality.
  • Have good audio. Invest in this.

What are some of the things you’ve learned about entrepreneurship and success on your journey?

  • Everything is cumulative.
  • Fail fast and continue as things build on each other.
  • Realize the ripple effect of the impact you can have in the world.
  • Think about the effect your message can have if you amplify it.

​ How important is playing the long game?

  • No one is an overnight success and if they are, they most likely won’t stay there for long.
  • You must take continuous action.
  • Consistency and a long-term view are more important than ever.
  • When it is worth it and about something more, you will have no problem making money.
  • Money is nice, but it cannot be the sole reason for a business and just focusing on that will not sustain you – you’ll be unfulfilled and burned out.

 

Best Quote:  Make sure you are not positioning yourself at the bottom of the heap. Strive for the top. There is much less competition there.

 

Anna's Misfit 3:

  1. Anything is possible. You just cannot necessarily see if for yourself yet.
  2. When you allow yourself to see your potential without excuses or blocks in the way, you can achieve it.
  3. It is ok to fail and go wrong, because that is when you can look inside, learn from it, observe what works and what doesn’t and then turn it around.

Show Sponsors:

The Good from Caldera Labs

www.CalederaLab.com/MISFIT (allcaps)

ROI International:

www.ROIINTL.com/Podcast 

 

 

Mar 24, 2021

This week’s Misfit Entrepreneur is Krista Ripma. Krista is the founder of the digital marketing agency, Authentic Audience, which helps transform clients’ businesses by implementing innovative marketing strategies focused on authenticity, storytelling, and selling the truth. She is also the host of the Authentic Audience podcast.

Krista and Authentic Audience have been featured everywhere from Forbes to Entrepreneur and her passion for helping others tell their stories and share their truth through radically honest marketing is un-matched.

Radically honest. We don’t see that as much as we should these days, and it’s important to make sure we are being true to ourselves and our businesses, so I asked Krista to come on the show to discuss what it truly means to be authentic and honest in today’s world.

www.AuthenticAudience.co

Krista has always been in to sharing stories and sharing stories. She studied communications and film in college and went to work in film in LA. But the whole industry was inauthentic. She loved the stories, the scripts she read, but the world around her was fake. She did all sorts of jobs and learned what it meant to work hard.

From there she went to working with TV networks in health and wellness. During this time, she met a Yoga star who needed help with her brand and Krista helped her grow the brand. She loved it and realized that is she is what she wanted to do. Help people grow their brand in an authentic way.

Define Authenticity…

  • It is something that really cannot be taught.
  • It is when you are in alignment and you know when you are.
  • It is when you are walking your talk and being the person or brand, you want others to think you are.
  • It is the lack of fear or doubt – just truth.
  • There is a big difference between transparency and authenticity. As leaders, we have to pick the appropriate time to share things and be transparent – but we can always be authentic.
  • Authenticity is standing in your truth and opening your heart up so others can do the same.

How does someone transform their business through authentic? What do they do?

  • You have to answer the 4 most important questions.
    • Who are you?
    • What do you do?
    • Why does it matter?
    • What’s in it for me? (your dream client)
  • Anonymous brands are dead. People want to know who is behind the companies where they spend money.
  • We have to create personal brands within our bigger brands to thrive and succeed.
  • The X-factor that sets your product or service apart is you.
  • Customers want to “be seen” by you and feel like you see them.

What is working and what is not in marketing strategies and launches today?

  • The biggest mistake is taking someone from awareness straight to the sale.
  • The best part of marketing is the “consideration phase” which is the time you take to share who you are and what the value of your product or service is and establish credibility.
  • What is working is a longer warm-up/consideration phase where you provide a ton of value before ever giving an offer.
  • Consideration used to be about 7 days, now it is more like a month to do it right.
  • Best practice is a longer warm-up and shorter buying timeframe.

Is there a formula that you use for launches?

  • Krista has an e-book called the 90 Day Launch plan which breaks it down week by week of what needs to be done.
  • You can get it at AuthenticAudience.co
  • She discusses her process at the 20 Min-mark, and it is best to just listen.

How does someone get leadflow and build a list to market to?

  • You don’t have to have a big list, but you need to have a way to build a list.
  • You will have to invest, and you need the confidence to do so.
  • Lead gen campaigns on Facebook work well – you have to give something of great value for free to be successful. Something that really speaks to your dream customer.
  • LinkedIn is another great place to get leads. It has the most opportunity.
  • YouTube is also a place to be if you create content.
  • Growing your email list is by far your best investment.

At the 31-minute market, Krista gives her best advice on selling, both online and in general..

  • Get your money mindset right.
  • Understand the abundance of money around you and be careful not to let a scarcity mentality stop you.
  • There is so much money out there, it’s everywhere and we are deserving of the piece of the pie as long as we work hard for it.
  • After money mindset is the seller’s mindset.
  • This is the confidence in what you are selling.
  • Your dream customer is why you created your product and service, how can you not sell to them? If you don’t, you have failed them. They need it and are ready to buy.

At the 38 min mark, we discuss “asking for the business.” It’s best to just listen… Shifts in online selling?

  • Major algorithm shifts. Much more pay to play. A lot of throttling happening.
  • We have to pay to reach our own audience.
  • Engagement is the secret sauce. The more engagement you have/time spent is the big X-factor right now.
  • For paid media, the market is super saturated, and the competition is fierce. It’s also not more expensive to compete.
  • In order to do well, you have to stand out in a bigger way and you have to innovate and figure out how to do it – even if that means being controversial by being authentic.

Best advice for entrepreneurs in today’s world?

  • Get one customer. Launch the thing!
  • Get real eyes on your site/product/service and get feedback.
  • Forget about your logo. Focus on your product and service and the way you make clients “feel.”
  • If you create an amazing customer experience; customers will tell others and you will grow by word of mouth.
  • Pivot as needed because you will have to.
  • You are always launching and pivoting – don’t rest.

 

Best Quote: Authenticity is standing in your truth and opening your heart up so others can do the same.

 

Krista's Misfit 3:

  1. Stay in your uniqueness. It is your superpower.
  2. Stay in service. Shift your mindset to that of service.
  3. Self-care. Burnout is around every corner. Establish self-care rituals that help avoid burnout by any means possible.

 

Show Sponsors:

The Good from Caldera Labs

www.CalederaLab.com/MISFIT (allcaps)

ROI International:

www.ROIINTL.com/Podcast 

 

 

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