Start a Profitable Online Business

Lesson 2 of 14

Turn Your Passion Project into Profit with Lewis Howes

 

Start a Profitable Online Business

Lesson 2 of 14

Turn Your Passion Project into Profit with Lewis Howes

 

Lesson Info

Turn Your Passion Project into Profit with Lewis Howes

Don't talk about so we get into it I've got my clipboard here I guess some like the coach this is like the football thing and I've got my clipboard we're talking about keys to building a probable online business and I don't want to go over on overview of this were to go into some content with james I think right after this so don't talk about a lot of you guys here all have an idea or businesses right? Does anyone not have an idea or business that there there you have created right? Everyone does some people online you guys may not have an idea you may not have a business and maybe you can let me know if people have questions in a little bit about how to fight fair that out but first how you got to figure out you guys all have your own idea your own business so the goal is kind of making it bigger making more money from it what's the biggest goals you guys have for your business so I just what is it freedom wanted probable okay, probable profit don't make money right so get out more fr...

eedom. All right? Okay, cool that's what a lot of people weren't so now you guys all know why you are why you're doing the business as you're doing you know why? Well I e okay, I wrote my own book and two thousand seven and I realized I wasn't making any money and so little book it was my name my book is ghoul digger gold gol lessons learned from the richmond I dated and it was a self help book for women about making their own money and right after I wrote the book I created a seminar a wealth creation seminar for women and my book I used my book to get major speakers but I still didn't figure out the whole thing and so it really started a consulting business helping other people write books okay cool. What about you? What about you, chris um I created my own membership website because I enjoy the stuff that I do offline so I just kind of wanted to transition it you're like your strength coach before right? Yeah ok yeah so you wanted to do it online so you kind of leverage your time right? Right, right, right. Okay. Cool. Well I modeled for fifteen years and I decided I want to go to a new stage of my life and bring the information I had two other aspiring models but I want to continue the freedom that I had when I was modeling because that's why continue to do it for so long? Still modeling yes I am but I have so much freedom and that's why I never I have my master's degree in criminal justice and I work for a lot of smart model I and I worked for a law firm and I was like this is not where I want my life and so I went into modeling which was like a total like three sixty and I want to continue that lifestyle through an internet business okay cool all right? You had a lot of extra free time because you were doing castings but you had this downtime waiting and exactly people do exactly but I'm working like a dog now way explore modeling but I want to see it start seeing the goal is to make this like your main money maker in the modeling is just like place is just play fun exactly exactly okay so best dressed by the way relax show up yeah yeah because eso I started dynamic studio but actually my brother for what one of my main reason was because I love playing games I'm a big gamer and I've been in kind of an online industry for about five years now just kind of jumping around I flip domains websites is sold them but I never really found out that niche you know? I made money sure, but um getting you know didn't really grab it so I started dynamic studio our first game it should be basically reviewed by I was basically by monday it's called chubby jumper chubby jumper shelly jumper doodle jump with a chilly little job or like jet pack. Okay, jump pack from trey smith. But the reason why I think charlie jumper was because I wanted to actually really also fitness because I haven't seen anything. Any game out there that just kind of like, oh, here's that you get fitter the higher you go. So is a chubby kid like that in a pogo stick because I thought everybody liked a lot of different characters very wearing like jet pack. Your stuff was like, let me have this kid jumping on a pogo six reelecting apples like fitness with your love for mobile gaming fitness as well as philanthropic costs a swell. So, like the game so we're pushing out actually has something to do, like well, will be fifty percent of our profits to certainty. To a certain degree, it will be a time frame will be donated to specific costs. Ok, cool. So this game is actually a kind of a beta game, so I just wanted to launch it. I think I like the concept of cool. All right, cool. Fuser, right? Not what use are not fuse. Well, my close friends call me fuse. Okay, cool. I'll let you call me a part, right, basically. I started the wedding blog's them a wedding photographer, I love weddings, and I realized there was nothing in new jersey or are surrounding area that was just a little bit more modern and cool kind of a traditional wedding in a share in all the cool wedding boggs are all from the west coast s o I'm like here's an opportunity, and I realized there were other wedding vendors who also thought like me, and I felt like there wasn't a space for them, either. So the idea of the blogged was to provide, you know, inspiration, content, not on ly for local brides, but really to show how new jersey could also be a really awesome place and has really great, unique venues and then also a space for for the budding vendors. But I'm passionate about the whole online marketing because when I started my photography business, I had no money to market myself. I was a mom with two small kids, and I'm like, oh my god, they're social media like there's, I could learn things for free. I could promote myself for free and that's how I discovered online market and it's kind of joining dose two passions like weddings, and then my passion for online marketing so our y is to help our generation realized that life is a twenty something doesn't have to suck and so I got the idea one day while I was spinning about now and half letter in my hair and I thought you know what our happy oh and so as I was saying there I was thinking you know what life after graduation has been really hard for us didn't we you know, we graduated the height of the recession and we're just negativity coming at us you know, from every direction and we had decided to move to believes just to kind of do something a little different with our lives and I was thinking you know, but there's other twenty somethings who want to kind of live this life too and so he started a blogged to just kind of put our story out there and you know, give encouragement to other people that you know being twentieth twentysomething is awesome you do it right you know and so now we want to just take that idea and put it into a product cool cool I get to talk about louis I tell you a quick story real quick you know a lot of people in the twenty eight twenty nine age group my generation feel they have two options option a is you get a job and you you stink at it you hate it and you do it forever option two you go to grad school it's true that's it I'm surrounded by a group of people right now that are identifying with themselves and they know they have more options in life, but not everyone has that opportunity, so if we're able to connect with father twentysomethings has shown that you don't have to just do option a as we like to call an option b but you have option shirt and option c is really living the life that you always wanted. Yeah, no, I like your guys, this passion and your idea that I was looking at everyone's business the other day, but I think we need to work on some of the positioning in the packaging, so we'll try to work it out with you guys next few days, so I was unemployed and I started looking at different projects that I could work on, and I started off with this idea of creating a network for getting local food, food that's grown in your neighborhood, and as I was working on that idea, I wanted to put up an explainer video on my website toe kind of explain the concept and the quickest time possible, and I found out that it's super hard to do that really expensive if you want to get somebody to make that video and it takes a lot of time if you want to make that manually yourself, so I completely jump ship and I said, you know what? This is a problem that I'm having right now and I want to solve this problem first so then I then I started working on this project the explainer creator project just to make sure that you know anybody else running into the same road block that they want to create a quick little animated video right? Can you show them how to make it themselves it's a web app that simplifies the process and it's just record pleasure and images get it up there like that software web app, right? I like that a lot and I think there's someone there is a huge opportunity if you make a lot more money with it because you're selling it for how much actually I'm developing it right now so I have been priced or how much you get a cell for range you think I was going to do on online model subscription based and I was thinking free model freemium model free for basic functionality up to say like fifty dollars a month for business andersons done for you stuff you go down there and some other high ten thousand dollar and consulting stuff and yeah, a lot a lot of other ways yes, we've got a bunch of stuff coming in from the internet as well some people with their own ideas joy brahim eyes a desktop publisher and he wants to translate that into an online business all one eyes is a painter and wants teo cell paintings on, etc and potentially on ah website, but one of the questions that we're getting a lot and I'll throw it right tio fashion tv from from singapore how do we know if we have enough in our bank account? Teo started online businesses one question I'll throw a second one out there from, uh, newbie eleven q. How are eleven q? How do you come up with a viable idea for your own business? So to question, how do you know if you have enough money to start? I'll do the saudis, don't you ever get an idea first? Um, for everyone in here, you guys there's a common theme? You guys had something you're really excited about your passion about your already kind of interested in working in, and you try to transition into a way to make one morning, create more freedom. So the best way is to figure out what you love already, um, what you're excited about already, and then you can kind of figure out how to turn that into something online, but start with something you love first. Now we're talking about sock when james and derek actually, um a little bit earlier, and I I like the model of doing something you're passionate about because I feel like you gotta stick to it longer. Whereas some of both them like the way of, you know, creating something just to make money and falling in love with the packet of the packaging, the branding and the marketing process. Because if you fall in love with that process, you could make money with anything with any business idea. But I think everyone in here kinda has, like a passion project that they're working on, which is what I like to do. So you can either work for something you need to become passionate about marketing, brainiac, packaging or become, um do something your passion out already. S o that's the second question, the first question was, how do you know if you have enough money to get started? How do you know if enough money? So this is great? How much money did you have when you got started? I had negative five thousand dollars, so I was on three credit cards sleeping on my sister's couch. I was eating rahmon from her and, like macaroni and cheese, and I had, like, lab dog slobber all over me all day long. And I remember thinking the same thing that I don't have any money actually went through a process of trying to raise money for a sports. Website, a sports social network web site that I had an idea for I read a whole business plan, I spent months and months and a lot of energy reaching out to people trying to raise money, trying to figure how do business plan it was a waste of time. It was actually good learning experience, but I didn't. Nothing came from it, um, and then I started doing everything with sweat equity and through relationships and through just hard work and learning about everything online and that's when I actually started to make money and a lot of money without having to put that much extra work into it. So I don't think you want to focus on looking for money. You can do everything with less than a hundred dollars to get started, and we're gonna walk through with lisa in a couple hours how to create your first products with basically one hundred dollars or less and make extremely profitable, so that sounds cool, you guys, we'll show you how to do it so what I want to do because I don't have them take action on something right now I want you guys, I think it's important to focus on you got this passionate about this like this love for something everyone here has got this passion, you want to build a certain business, you all have something uh, somebody online may not know what that is, yet you have to figure out that idea forgot your passion. Do some research the best way to find a profitable idea that is, if you don't let say you have no love for anything and you just want to make money with something want to start a business, but you don't want to make it something that you're passionate about. The best way to do that is to go on places like click bank, dot com, check out the blogosphere and see what's already making money. So if you love social media, if you're like in a social media, see what type of social media courses are out there and see if they're profitable. If you like talking about health and fitness, find the other people that are selling products online. You could goto click bank dot com you want amazon and see what type of books are out there. If there's books about it, you can create a product around because there's a market for it. So figure out what type of bush out there that's a good way to find ah profitable idea now that they want to do is talk about money because I think a lot of people, when they want to start our launching on business and they start with their passion, they're scared of making money. Because they want to give like all this love, this excitement is passion out there and they want to share advice they'll do it for free because they love it that much right? Because you want to help people especially your passion about the idea you like I want to I want you guys to be okay I want you to make money, right? I want you to get the modeling gays don't worry about paying me, but we're people here we have bills, we have families we have, you know, expenses, we have dreams, we have passions ourselves so it's okay to make money it's okay to make lots of money in my opinion, and I remember what was that over there? Yes, woo and I remember growing up, actually and this is probably part of, like, a mindset block I remember growing up, actually with three older siblings, my dad was working his butt off and it was always like a struggle for him to, like, provide for us, right? I remember like, thinking rich people making money, it's like it's bad or something and always had this kind of negative mindset towards money. I didn't wanna make money, I didn't know how to be an entrepreneur, I don't know any of this, and I think I really had to kind of breakthrough that after playing football because I was such a pain, I don't want to be sleeping on my sister's couch I just wanted to have an apartment on my own and feel like a grown ass man, right? So I was like, my goal is just to get some money so I can live on my own and I think, uh, kind of mental blocks hold us back from family charging the way that we should be charging and for making the money that we should be making because when I had, the more I think about it, I don't really take action that much unless I pay for it unless I pay a premium for it if I buy, I buy books all the time for twenty bucks, and I never read them right, but I'm going to spend a thousand dollars on something or ten thousand dollars on coach or training or some type of service or product I'm going to use is it for me? At least I know that's my my way of thinking, but I get something for free I get stuff for free in the mail all the time. I never even opened it right products someone just sent me thousand dollar product and I know I'm never gonna open it right, but if you want to dad, that enough, some wants to be a model that bad enough they're willing to pay if they know they get results and they could get ten times the amount of results that they paid for, right? So it's about packaging it the right way, but don't be afraid to charge for your service your product or your time. Uh, so what I want you guys to dio and this is everyone on the interwebs as well. I want you to create a financial goal right now just a number for two thousand thirteen of how much you want to make with your online business. Now this can be whatever you want to try to be reasonable but also try to push your limits so just write a number down. It could be a thousand dollars it could be ten thousand dollars, one hundred thousand dollars a million dollars whatever it is that you feel like is uncomfortable, but is the gold you really wanna achieve? I want to start with the end goal in mind first of how much you want to make and then we can create products and services, pricing, the packaging and the plan around how to make that. I think a lot of us go into saying, I just want to be a photographer and I want two weddings I want to make amazing pictures for people when I wanna have these great experiences in these memories that last forever for them and you don't think about how much you want to make I'm not saying you haven't, but we have this idea of, like just wanna help people coming better model I want to help people sell a book on the weekend I would help people come bigger, faster, stronger I want to make some money, but have you really thought about how much you want to make for me? I remember the first time I did this when it actually worked for me, I can't remember where I got this. You might have been thinking grow rich or something else, but remember, I'm a big old guy and I wrote down goals on like a nice matter piece of paper, the exact date I wanted to have that gold by and I framed it all my goals, I put him up right by my mere right when I woke up, I had a right by me or look at it every morning looking at every night, and I remember the first time one of my goals happen from that frame. It was like a week before that date and it was like, amazing to see, just like when I set the intention out there and I worked from backwards, things start to just flow for you, right? So if you're not doing that, I think if you just get out make some money here and they're gonna be like I'm still struggling and I don't know why it's not working question have a question on the prophet thing residual income versus actually doing something this is a non line business passive income or are you actively doing things every month because my my goal isto make thirty k a month yeah and but I feel like you have to run campaigns you have to be doing email, email campaigns, affiliates, joint ventures, etcetera to make that kind of money is that writers a passive it can't be both can be whatever you want so you can make a passive or you can make it so your working hours a day depends on how you set it up how you structure at the teams you put in place how much you remove yourself from the situation I removed myself more more from my businesses I've hired a seal over my sports marketing company do about a call a week with him we do emails but I used to be like always doing the tedious work, the planning, the strategy and everything and I wasn't able to make his much money when I was always working that much when I let someone else who's smarter than me at everything just like take place on do the work and he's got a team of people underneath him that does all the tedious work now and he manages that it's much easier for me to step back and not stress as much, and I think a lot of you're gonna have that challenge because you love what you do so much that you want to be involved and you won't have every like thing that you're focusing on, and that was a strong for me and I was like two years I wouldn't like let go with a newsletter because I was like, I wanted to me to be writing the newsletter but would take me two hours I wanted to like do everything, and it was very stressful because I wasn't a what a breakthrough and make the kind of money I wanted with it, so I think if you are always in it, then you could be working a lot once you start hiring the right people. Um, it's goingto remove you a little bit because I feel like I definitely hit a ceiling in the time that I've had six figures in two thousand nine have being in business for a year, but I feel like every year I'm at that point and that's why and there's also a market segment that I'm not reaching? Sure, because all of my events air live or it's consulting? Yeah, and that's the reason I'm here this weekend and I think we can think of a lot of us can focus on the eighty twenty rule well, we're just focusing on, you know, twenty percent of things that bring us eighty percent profit as opposed to doing one hundred percent of everything that brings us a little bit of profit. So I think we all want to figure out one of those things that, like the twenty percent of the time what shall be focusing on let's could have given me the most amount of money I almost made a profit and then just letting go of everything else the other eighty percent of time and energy and work give that to other people so that you can maximize and leverage your time so we want to work on that. Yeah, what about that in between period or I mean hiring people is great but there's this in between period and that's where I feel we are there's profit there but not enough to spare somebody again for me and my experience it's going to take work you gotta spend time and energy doing a lot of this yourself unless you have the money the resource is the team to help step in and relieve some of that time and energy for you. So but again, for people that have one hundred dollars or negative thought five thousand dollars do you have to put the work in like I did for a couple of years like james did you know it's like we worked and sucked right but unless you have the time the money, the resource is a business partner who can help relieve some of that for you, then you just have to, like, figure it out well, I think what you said about because I feel I'm come I feel like I'm constantly spinning plates sure and they're constantly falling, but I'm not focusing on how to make money exactly because you're thinking of like, oh, I'm going to update my website I do this I gotta put the newsletter out but what's the goal none of it's me so I want because I want everyone online to write down a goal I want them to type it in and the chap blocks and send in what their financial goal is the amount they want to make by the december twenty fifth, two thousand thirteen so I want everyone to do that and we've got a couple in already uh your name says forty thousand dollars that seems like a reasonable reason that's a full years salary for most people? Absolutely we have another one from emi bloom one million dollars way have ashley and so cal who just says a sustainable income fifty two thousand per year still and wants still time to live sure and once let's see dd nine six seven two thousand thirteen book twenty five weddings to bring in sixty two thousand five hundred and additional income okay I like this one they're coming until faster there scrolling up really quickly there was one two thousand dollars of profit I can find out find where it went but like that seems like a thousand dollars per month from tell a man like that seems like a very reasonable that once a month that was bucks a month on the side that's an extra twelve thousand dollars a year imagine what you could do with that is that it's a very reasonable small goal to get started with that you can build on top of it and for me I remember my first goal is like I just want to make three thousand a month because I was like I could get an apartment, get a car aiken get my own food and not live off my sister and that was like a huge deal for me and I didn't know how to make three thousand dollars I was like so stress for a year and a half like how we make this money and I was just working so hard I think once you figure out the things that make you money then you just focus on those things on lee as opposed to like trying to do it all yeah mike okay burton here says he wants to make forty thousand dollars from subscriptions he already makes one hundred k from consulting so dublin that nice okay you would you shuffle on sharing your goals, financial goals so it's that I want to hear so I know you guys are gonna hold you to it, so we'll start with you, mike, by december twenty fifth. What is going to be your financial goal? Right? So my financial go for but the end of two thousand thirteen, two thousand thirteen okay, so when I get one hundred thousand dollars, I think that's reasonable the average into developer um, unfortunate makes about ten thousand dollars a year, but you're not average. I've no one hears I have exactly so, so I'm being, you know, a hundred thousand dollars. Okay? Aside. Okay, cool. I changed my first one hundred thousand dollars and I want two hundred fifty. Okay, cool. Chris, uh, I'd like to make two hundred thousand dollars have lot of student loans to pay off. Okay? Call lasted to see the pain that you have for me. I had such a pain, like I couldn't go out with girls. I couldn't do anything sleeping on my sister's couch. I was like, I just did it like a man. I was twenty five years old is like, I'm not even a man from living here, so I had this deep pain was like, I have to get out of this pain so the student loans could be like a great thing like I dont be in debt for the rest of my life so you have to like hold on to that pain so strongly and just like get out of that so that's what that's my pain lisa we'll put thirty k a month I don't know I think I can't do the math was that that's that's two engine sixty thousand years and you know but my life is good now yeah, I mean I'm blessed and I have a beautiful daughter so this is kind of gravy to tell you the truth because freedom is a huge thing and so just having the money too. So do you want freedom or do you want three, two, six two thousand? Well that's the thing I want to continue I have I don't work, I work about twenty hours a week so you want to continue working that I want to continue working twenty, twenty hours a week which are I believe is possible you may have to put some extra work in first in order to get that. So just so you're aware but I just it's like I'm blessed now so I feel like that's kind of it's it's really great to shoot for but I think my life is good the way it is so yeah alright, cool steve so I kind of agree with you that three thousand a month would be great. Just it's it's fine. I wrote down one hundred fifty thousand because I figure that's a nice a nice old toe strike force, but also the same thing that alicia said really? I like some sort of like, hourly equivalent to that because it's not just about making the most money per year, but we're not some flexibility from freedom. Yeah, but being able to work and then our and then enjoy that. Okay, so I had brought down forty nine thousand a year. And stacy, what is you put one hundred fifty. Okay, so somewhere he's got seventy five percent of fifty thousand for living outside of the u s and one hundred fifty thousand. My goal would be forty eight thousand four. Eight thousand. Ok, cool. So the best way. One second. I'm gonna get it right to you. The best way james went more is there to talk about how to get rid of all the stuff that you don't want to dio through outsourcing and through creating great systems for yourself and figuring out what you should be focusing on on lee so I realized that for me, I am not good a lot of the technical stuff and not get a lot of the tedious work like any stuff really give it the sales and marketing, so I took away all the responsibility for myself everything else and I just focus on strategy the sales and marketing showing up make sure delivering great content doing the marketing sales but when you realize what you're really good at, what you want to focus on on ly you stop doing other stuff it's gonna make your life a lot easier gonna make more money to the chat world? Yeah, I just wanted I mean people are it's so great to see all the goals that are coming in the financial goals because it's one thing to have ideas but then set that down it's such a great place to start, but I want to acknowledge that we have this global audience and and so keep people are keeping in mind that it's what's relevant for them. So the ear dunga says my goal is to k monthly providing google analytics consulting this can this much can live me like a king in india they go so you know, depending on where you live yeah, I'm going to be relative and google analytics like google in the next hour like any type of online split testing any like that type of stuff that can actually see results for people right away you can charge a lot, charge a premium for that and you can live like a king of that. I'd like to hire him, actually, so you're good and you can see show someone results for their business. I split testing by and letting all this stuff people are going to pay for that if they're gonna double their money in the next month. So it's definitely a service that's really helped a lot of people there's one here that I really love bijou photography for thousand months so I could pay the rent and spend time with my family. I love it. They have added a reason toe why they want to make that specific amount of money. I think we all I mean, we all got great ideas, and but if you don't know what you want to make, then you're really just running a hobby in my opinion, and you're not really focused on reaching that financial goal. So if it's not a financial golden it's a hobby, it's, not a business online, in my opinion, yeah, with that to its first my financial goal, I also don't want it to be service based. I don't want it to be a business that if I'm not there. Then it's not making money, so I've done some actually seo consulting on dh I really love that cause I love the online marketing and other photographers have come to me, you know, asking for some consulting, but I really want to create a package or a system that, you know, if you're sick and you can't go there, you know, just like photography, if you're not there, you're not making the money so that's still true here? Yeah, but obviously of stuff I mean, I know about the larvae business, but obviously khun cell prince, you could give packages you khun dio different stuff like that that you can sell to make money this side, you can hire out people so you could be the face and say, this is my company and you just send people out to do the jobs that way, you're like, multiplying yourself times as many as you want. So, um, again, I think a lot of these could be focusing on the packaging in the branding, the marketing fall in love with that process, you can remove yourself from doing like the service work specifically because you didn't create products or services that someone else does for you, you know, I mean but until you get that mind set you're gonna be working you're going to be doing this service you're going doing the photography for people you could be doing the editing of all the photos you will be putting it up on line from them putting it in a binder for them write all the things I'm assuming that's some of the stuff but you did continue doing that unless you start thinking of okay I'm gonna package this position this how about I make this money by hiring someone to do these jobs for me how can I do to weddings the weekend where I do one and someone else is one pay them a fi right how can I build an intern community that goes out and does in for you know the experience as ah so they have a crew and one person is a crude right you have to start thinking about those things to make the extra money okay so we got the financial goal and go ahead and keep sending in your financial goal if you guys just timing and what's you wanna have by the end of two thousand thirteen december twenty fifth how much money would it have made? The next thing is really creating like a flexible plan and a lot of you guys have done the research already when we talk about market research for your products to make sure you know that it's going to be profitable and a lot of people here. Well, email me and I talked to me to say I've got this great idea it's this this this and this and I think it was like, okay, it sounds like a cool idea but if no one else is actually doing again it's probably the chances are it's not gonna make a lot of money it's not profitable so you want to look at the things online that are profitable if someone's if there's twenty books about linked in you know you could make money writing a book about linked in if there's nothing out there and there's no one interested in the topic then it's not really a great idea. And there's really no million dollar ideas on ly million dollars executions good mentor mind told me that I was like, I've got all these great ideas he's like it's about the million dollar execution. So market research there's some great, I think there's like five he kind of nisha's niches what everyone say online that are very profitable and I think a lot of you guys fit in all these one is kind of the fitness health weight loss area lot of people always look like they get bigger, faster, stronger, trying to get fit or trying to lose weight, sexier younger things like that so anything in that spectrum if you've got an idea there, you know you can package it and make money around that number two would be the relationship world um how to find the love your life how to get your ex back how tio have a better relationship how have better sex how to do all these things right had a texture wife and you know all these different types of relationship advice there's a big pain there, right? Love and connection is a big pain there and if you lose your love your life, you'll do whatever it takes to get that love back if you're lonely, you'll divert ever taste to find a love there's dating sites in all sorts of stuff so that's a big niche industry next to be like the business financial save money industry so anything about how to grow your business how to save money remi se ti is a great example he was on here recently talking about he talked about how to make money on the side howto negotiate higher rates how to do all these how to save money with your credit card so that's very probable that in a stream and also how to grow your business um the fourth one would be come on personal development, spirituality, space there's a lot of people who are creating products you got like the law of attraction of the secrets there's big business around that personal development how to become a better self and then the fifth one and kind of be like teaching people how to stuff so it could be how to create crafts how to james's friend talks about how to build a remote control airplanes but by saving a lot of money so teaching people how to do something by saving money or by relieving a pain so it's kind of the five different areas that you should be focusing on and doing your research around if you've got an idea within that area when you know you've got something that you probably package and make the money that you want from them um and for me I don't have any money and I wasn't able to raise money so I said okay how can I make money first and then learn the rest as I go learn on the job right and what I want to do it for all you guys to this weekend is show you how to create something that gets you paid first and then created afterwards we're going to make money first and then and then created after you get paid because there's no point for me there was no point to spend three or six months whatever I did trying to create this idea for a product trying to raise money and then it never going anywhere and then the wasting three to six months so you want to test it first in my opinion you want to test it first make the money first and then create and deliver the product seconds and the best model for doing that is the webinar or bootcamp model if you're creating any type of information our business around these feet these five topics that I that I just mentioned the fitness, the health relationships business, personal development how to any of those then you want to do some type of bootcamp training to teach them how to become a better model. How to get three auditions a day how to save you know howto increase your pricing howto better pack it yourself you want you want you could do a mobile app sweet right could sell all these different things or teach people how to create a mobile app different stuff like that how to get bigger faster, stronger for howto increase your two hundred twenty pounds or two twenty five bench press how to run a faster forty yard dash how to drop two tenths off how to increase your vert by six inches how to write a book in a weekend right how to write a best seller on weekend without having any experience writing editing in flunking english in high school right? How to you know all these different things you can package this and you can sell it in a marketable way for people but the boot camp slash webinar model is the best way to do this whether you want to put it into ah digital product membership sites a physical products get dvd learning cds a book you can do that with starting a webinar and doing a boot camp so you khun transcribed and create anything pretty much any type of product out of this except for like of your software obviously you're gonna need um programmer but you can teach people how to use the software, how to get to make more money online, whatever maybe but your your software's teaching them how to create great videos learning videos right what's called explainer creator so you're teaching people the best so you be teaching people how to market their product and service to the world better so they can sell more products you would do that on through a product teaching them how to do this and then you could say use my software that shows you how to do it faster through these videos, right? So you've got that whole that model is the best model we're gonna work through with alicia uh, later today after the break, we're actually going to work on a complete boot camp with her and kind of set up a product for her and you guys were all their work at the same time on your own and we'll do this together the next thing we talk about how much time do we have like five ten minutes just fifteen minutes okay so my last point for this is it's a great setting here right? And I guess my my thing is I'm supposed to be the coach right? I got bored you whistle or something here whistle back there so my I think the key to my kind of success that I've had so far is really surrounding myself with extremely smart people like derrick and james and having mentors and coaches I can't emphasize this enough that I mean I feel like you learn so much faster and you get so much more done when you have someone who's already been there who's already really successful in what you want to do just saying yes do this don't do that do this don't do that and then you can bounce ideas off that could keep you accountable think accountability is extremely important if no one's holding accountable accountable you're not gonna get it done the timing needs to be done giving yourself deadlines and give yourself, um some type of some type of what's the word I'm thinking of if you fail some type of penalty penalty thank you it was another word but that works reward you what is the reward? What I think you should have a penalty definitely if you don't get things done apparently foul yourself exactly pass interference right um and I think it's so important if you want to get those goals especially if you have big goals if you're talking like half a million a million two ten million it's gonna be so hard to do it alone I'm not saying it's possible to be so much harder to do it alone uh so having someone on your side someone your corner that is extremely successful that's done it who's already been in the industry that you're in I think you all want to find someone whether it be hire them or have them mentor you now the mentor process uh I had three mentors one that helped me with speaking and all my public speaking I was terrified to speak in front of an audience if this was with you guys three years ago I'd be trembling I'd be you know, shaking I want t o speak and I remember meeting this really great professional speaker uh who became my co author for my book since frank reagan and I remember watching him give a speech and I was like just mesmerized at how he could command the room how he could get his message across make people laugh, entertain them and have them take action and I thought if I could ever learn how to do that then I could really help more people and I could serve the world better right? I could get my message across and he was so helpful he would I remember I had a cast on it the time, and he said, you got two joined toastmasters, which is a public speaking class course, you pay like sixty bucks of year for him, and he helped me on all my speeches. He would come and listen to me, he would we could go to his house and practice them, but he had been there, he'd been successfully written books, he'd spoken in front of thousand people, and I needed someone to help me feel like it was okay. When I was doing give me some critical, helpful feedback, I don't have a coach or mentor, I would have been paralyzed still, and I won't be able to speak. Uh, I still feel like have a long way to go to get better, but having that mentor allowed me to kind of break through and kind of a reach some level of speaking that I felt comfortable with my next morn tour was, and these are all still mentors of mind, but my next mentor was a business and kind of kind of a business mentor and kind of show me how to run a business and more of like a personal, uh, at the coal mentor help me. Figure out what was right and wrong and business and justin life making sure I was like staying on a true path as opposed to doing things for the wrong reasons just to make money and just do whatever and really educated me so I would call him once a month I would talk to him we would meet up and he would help me with all my business strategy and vice because I didn't wanna make money I did not run a business do it anything right? I needed someone who had done it was very successful tow lead the way for me uh and then I had another mentor who when I had my cast on I had to walk around like this all day and I had a cutoff shirt I took all my shirts off because it was this huge cast that I couldn't I couldn't wear this over it and I remember if I had it like down I could either have a here or here because it was like at a ninety degree angle I could put over my head and, uh remember if it was like down like all the blood would rush through and it's just really painful so I had it about up here I would like hold against my chest or like put it up here but the cast was like for six months imagine not ableto like straighten your arm we're not going to turn this or do anything six months like imprisonment right in your arm there's an athlete who wants to work out and run all day it was so frustrating so for me it had a it always scratch my clothes or my face or like my skin so I created a product that is like this its called cast comfy and it was it was like this protective sleeve was very soft and comfortable in different colors and some hold anyways I don't want to take it to market I didn't know how to package it how to patent it howto do make it a better products so I found a famous inventor and in chris hawker who did this for a living made it a lot of money licensing, packaging, manufacturing and I said, uh I want to be my mentor and what I did with him and I know some of you to ask me how do you get the mentor to teach you for free that's the main question something right now to find the mentor first first I'll answer howto find the mentor for me it was a matter of I would find people that, um I really believed in and that I felt a great character and we just grow good people who have been successful it's something that I would want to be successful app and luckily for me I knew some of them through their friends, so I kind of get introduced to them. Um, but the best way, that's, the best way to find them is to see you can look online for mentors. You can see who's already doing something in your industry that you want to emulate. You could goto trade shows for the stuff you're talking about to find someone, um, who's already doing it right that's way to get them to have you involved in their life. It's kind of ah it's, kind of slippery, slow it's. Kind of like I gotta be gotta be a little bit playful with this and it's kind of give and take with with the relationship starting out. And for me, I didn't notice doing I was just somehow they they brought me on and men toward me, but the best way that I can explain getting them, tio kind of take you on for free, is to basically give them a reason why they can't have you around that. Give them a reason why, um, they can't live without having you around. So for me, I just I had so much passion and energy first off, and I think it scared a couple of them, but what I did is I just, like, kept showing up for the the inventor I went to his office every week for about three months until he finally was like okay, I'm gonna bring you on not only had to bring you on but I'm gonna pay you five hundred dollars a month to do some work for me so I was just doing a lot of first off it was asking a lot of questions about their success I think you wanted to see if you can interview someone first you want to be your mentor ask him questions about their success, how they got to where they are, what their biggest struggles were, what their biggest stepping points were and just learn from them and don't ask for advice on your business your idea that's the last thing you wanna ask don't say can you give me some advice because that's the last thing you want to do but if you approached him and say, um rick, you know, I know you worked at youtube for six years, right five years and you were like the head of marc global marketing and you translated the website and fourteen different languages and it's like I've always wanted to work at youtube or a media company like that I'm just starting out I would love to learn about you probably a lot of struggle getting there, didn't you? You probably went through like a lot of stress and a lot of like different jobs to finally get to that job, which is probably a pretty much of a sweet dream job at the time when you got it let's say you're still working there obviously creative lives better but let's say you're so work, I have my dream job now, right? Exactly let's say you're on youtube and I was saying, man, I would love to learn about I would have loved to work at youtube where I love to learn about marketing on a global scale I really want to do that for myself. I wanted to say that to you specifically, but like I'm so interested in learning about how you got to where you were, I know you struggle a lot, probably I did a lot of research on your online actually I saw that we went tio we grew up in a similar state, I saw that you had this struggle when you're working at this company and on linked in you posted that you're here, this company, but how did you get to youtube? Eventually? I love to, like, sit down with you for twenty minutes and just hear about your success because I think it's amazing what you've done, and I'd really love to learn how you did it now do you think rick would be interested in giving me twenty minutes of his time to say about how he became a successful if I approached him that way, would you be open let's say, if you were still there, would you be open to be like, yeah, I'm happy to share with you how I did this. Yeah, absolutely and in fact, I won't use my experience. I won't use me as the example, but when I was a when I was actually just starting out in new york city in two thousand won, I somehow got the email address of the ceo of comedy central at the time and comedy central comedy central, and so I basically did exactly what you did in a nice but short email. You have just requested twenty minutes of his time, tio here about his story and how he had gotten to where he was, and I got an email back within twenty four hours and had a call with him the next week, and the advice was it was priceless. Now the thing is, a lot of people aren't gonna give you twenty times still, because people ask me that all the time, but it's still, the way they approach me that it's like, uh, I don't want to just get twenty minutes to anyone, right, and so I think you're pretty lucky that you got that twenty lucky you're pretty lucky so it's not gonna be that easy sometimes in other ways to get introduced to someone else that may know them and that may take a while to find out who that is you have to do some research that's why I like plankton and facebook as you can see how you're connected. Um, but if I came to you are such an email and said, I want to know everything about youtube, I'm really excited about you to stuff my passion is created you to product I know you work a youtube can you give me some advice on how to launch a business around you to marketing? Probably wouldn't be super into how did you know giving you advice about how to launch a business? But if you came to me and asked me about, you know my experience and wanted advice about how how starting out like, yeah, but if I came you said, can you give me advice about how I want to make how I want to get your job? Basically probably probably not right? Yeah, because we weren't and we want to find a mental who's like in a position that we eventually want to be like, so you want to say, can you teach me how to get a job with what you d'oh I want to I want to be where you're at one day can you teach me how to do it like that approach for me doesn't work when someone like can you give me advice on how to make it in the sports industry or how to do better in social media like no, I can't give you advice go read my website it teaches you everything there but if you like if you stroke my ego and you're like yeah, this is for everyone, not just me but if you like stroke someone's ego to say I really want to learn about your success and your struggle people want to share their story much more than they want to give advice, right? Reddington that's what and that's what the ceo share with me was his story his story but then in the last thing at the very end of the conversation was a couple pieces of advice exactly once they open up their whole life story to everyone wants to say the end man, you're the greatest guy in the world how can I help you? They almost always happens if you just sit there and listen and ask questions when you get that opportunity uh they're all gonna reply with how can I help you and how khun what you're working on, but if you don't mention what you're working on at all and make it about them they're gonna they're gonna ask that question if you're trying to mention like yeah, I've got this thing I'm doing and I'm really excited to hear about your story but it's uh can you give us some advice like they're not going to be as excited? Yeah, so a comment from sam cox and I imagine that this peoples initial reaction themselves are hurdle that they put on for themselves is well, that person's going to say what's in it for me? And so what would you suggest people who's that don't even try because they say, well, that person is just going to say what's in it for me, everyone wants to share their personal story. I think I got an interview with the founder of espn and I said I just wanted to hear about how you started espn I know it was almost impossible because there was no twenty four seven sports networks at the time everyone laughed at you, you're not ridge all my research on him. I said I'd just love to hear your personal story about it and what you've been doing since I think people want to hear that people want to share their time with someone wants to listen about themselves and their stories have a great question from er just popped up from shenanigan ck what if the mentor says no or it doesn't respond at all you know, my mentor, the inventor mentor of mine who really helped me with packaging and branding and design, he said, no he's like I'm too busy he's like he had just moved into the city that I live he's like I'm too busy and trying to instead of my my work my business, but I just kept coming back with him I would email him like once a week or go see him once a week was just a new question about how he did something in his success and I think for me with that experience here after a few months he was like, you're a hustler, I like your energy and I was willing to do stuff for free for anyone, so I think if they're not going to be responsive, what you khun dio and another someone we actually hired does your god do something where they can't ignore you some when we hired was this ah great great web development seems sean vossler he uh he'd been kind of reaching out to me and my business partner sean for about a year trying to build a relationship reaching out to us on line off on events and he said always said, you know I want to work with you guys, someone I work with the guys to do some of your website stuff like how we got people it's all good he created an entire site that said hire me sean and louis dot com with an infographic about like our businesses our lives how he was integrated and listed all of his work it was like a video twenty minute video edited about how we can benefit our lives and our businesses and I was like we have to just call this guy lease and say awesome job on this like we couldn't ignore him and he started working for we hired him right away so that was a way for him to get a job I guess supposed to have any we kind of mentor him along the way and now he's working for himself but I think I gotta do something that shows that you're can't be ignored whether that's doing work for them for free doing doing a research for people ah lot of experts um or people with an authority position they're working on a book so they're having something like side projects if you figure out what their shop project is and take away all the stress and energy for them and work for them and put together something that's like you deliver to them and they just fall in love with it they're gonna be like man this person to go get her um again not everyone's going to do it I think you gotta feel it out and feel the energy out it's kind of like something like that, but that's the best way to get someone to take notice of what you're doing and to bring you on as a mentor mentee. However, if that doesn't work, I think that hiring someone he's actually could be even more valuable a coach or hiring a mentor, so they're only not when they do it for free. Um, you know, my brother does something great, my brother is the number one jazz violinist in the world he used to teach at berklee school of music and, you know, plays with les paul and when he was alive for ten years, all the great stuff he had a students who wanted to learn about jazz improvisation the way that he did, but he didn't want to spend fifty grand a year at berklee school of music, so my he asked my brother, I'll pay you ten thousand dollars a year teach me they're gonna get me a certain amount of lessons every week and I'm going to have some extra time with you and this and that I could call you and e mail you, so we had a paying ten grand for the year to teach him to mentor him for me, I think that's more valuable hiring someone who's been there who's going to help you get there faster than going to score or trying to figure out yourself so I recommend hiring someone if you can find someone that you really want to be like, hire them. Yeah. Who are some of the mentors you fired? Um, it's interesting. I haven't actually hired anyone except for I've hired business coaches who have helped me set up like my year plan, and I paid them more like an accountability thing. Um, I haven't hired like a specific someone that I want to mentor me, though, because I've always got them to do it for free or like a trade and have always given them value, which is basically like, you know, as opposed to money. So I've paid business coaches to setting stuff up, but more just like strategic business coach is supposed to like someone who's like an authority level because I just wanted, like accountability. I knew what I needed to do through my mentors was like I said, somebody being accountable, help me create the right plan, and every month we stay on track, I was fortunate I'm still fortunate to have a lot of great mentors, and I've just built some amazing relationships with top people who are willing to share their vice freely with me, so I just feel really blessed, kind of grateful for that.

Class Description

A strong online business strategy is vital for every business to grow its revenue and reach. Learn the step-by-step process of launching a profitable online business in this class.

Podcast host and business entrepreneur Lewis Howes along with James Wedmore and Derek Halpern, will show you how to turn your passion project into a successful online brand.

You’ll learn about:

  • How to develop a product that sells
  • Strategies for developing lead magnets
  • Tools for online marketing 
  • Methods for growing your email lists
Lewis along with his guest instructors will also share his experience and proven strategies for building authority, gaining online media, attracting industry influencers, and leveraging social media communities to increase brand awareness and generate more sales.

This class is your comprehensive guide to jump-starting your next great business idea and getting your online business off the ground. 

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