Introduction, plans, goals - Brian FFF

[BrianPM]

After reading MJ's book in 6 days, I finally decided to open an account to post after lurking here for a few weeks. Well, here's a brief bio about me:

I'm a 26 year old from the Cleveland, OH area. I attended and graduated from a 4 year University while playing collegiate athletics. While I was finishing up my studies I began to part-time play professional poker online. Professional poker carried me for the next 2 years while on pace to make 6 figures + before the USA gov't shut down the party in April 2011.

Fast forward 2 years and I've spent the time since working in the grey area of poker as an affiliate in 2 different systems, a buyer-seller of poker funds, and investigating REI. At the tail end of 2012, I took a job in Chicago, Ill with a gold/silver start up company that ended up moving its office to PA. I was close to the inner circle of management and was able to see the inner skeleton of a profitable company, but ultimately the drag, drain, and lifestyle as a minion in corporate America was utterly depressing. While I secured promotion and pay rises at an extreme rate compared to a 'normal' corporate job, I was completely in a negative place with the work itself, the environment, people, the "punching the clock" mentality, and lifestyle.

I've learnt a lot over the last few years, and while I do reminiscent and miss the 20 hour a week poker job, making 100k+ with complete flexibility and freedom, I am ready for something bigger. My personal goal is to bring more value to the world, and ultimately and essentially, be able to help more people than I can while broke.

MJ's book resonated strong with me thru his FFF model:

F- Family/Friends
F- Freedom/Lifestyle
F- Fitness/Health

I have spent some time throwing ideas together writing thoughts on word docs, scrap papers, i-phone notes (really a useful tool - use it if you're not), and my white board (I keep it leaning against my living room wall where I write any idea I can think about).

I finally have an idea I believe answers several criteria. It brings values to:

- Producers and consumers

And is an ideal niche because it incorporates:

- Scale ... Internet based
- Divorced from time
- Passive income on monthly basis
- Is math based

I have big plans, but my goal is to be a millionaire before my 30th birthday. I've talked about this goal with a few close individuals, but I am going to be an active poster here (similar to 2p2 for those in the poker community) so this is for accountability sake.

I've taken the time and designed my lifestyle goals, living costs, and money system goals per month to get me there. This will serve as an introductory post I can reflect back to regularly regarding my life, challenges, steps from where I am (hint* closer to thousandaire than millionaire), and progress forward.

Good luck to all of you with a burning desire to help people and improve your life. Feel free to leave comments, or PM for anyone who wants to toss ideas around or have useful quips about taking action.

 

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[brycer9]

Welcome to the forum. Looking forward to your progress

 

[BrianPM]

Does anyone have any advice about those who currently have a job with 401K company match - do you use it at all as a 'safety' net, or just take full paycheck and use that money for your project? I can see benefits to either approach, but curious to hear actual feedback about those who've done.

 

[BrianPM]

I recently accepted an outside sales job (I was previously surviving mainly on coaching soccer 5-6 days a week). I started week 3 today and it is to be honest, everything I don't like about "work". Old, slow and corporate-y. They babysit you, and are condescending. I took the job because of the base, benefits, resume building, and hopefully, sales training experience. The training thus far has been below what I hoped, but most things not in my control don't meet or exceed my standards or expectations. That's just how I'm wired.

On the development side of the fastlane, I have 2 business ideas that are in the works - 1 is in testing with several businesses, where I hope to monetize it soon. The other idea was recently developed and can be a feeding program into quick cash-flow to get me out of this corporate culture. It's a proven model, that has only been applied at certain levels. I plan to bring in interns from various local colleges and use them to help me attack these markets. I will be meeting with my girl's father this week to discuss this idea, and also gain some more information on who he uses for his restaurants app. It's a strange situation, where I'm very fortunate to have this kind of connection to a successful family owned business locally, but I also never want to abuse a relationship like that or mix that with business. I feel more comfortable approaching an unknown or a contact from my own experiences.

In any regard, the strides I made on the initial business idea are:

- Business name, domain, hosting (all bootstrapped done by me)

www.echomktg.com, twitter page, and detailed analysis of feedback​

- LLC paperwork filled
- 2 months of testing with one business
- 1 added business this past week
- Goal is to add between 1-3 more businesses within the next 2 weeks, and begin to monetize this asap

The biggest challenge facing all my decisions is the impending arrival of a baby girl at the end of March. The job provides benefits which as we all know are extremely important for a new-born. I'm extremely excited for this life-changing miracle, but I am taking on more stress wanting to achieve my goals, while being responsible. A good friend of mine was complaining about their job a few months ago that has a guaranteed base salary + commission and bonus (same as my job, just more lucrative base), and I gave them the advice to take the base and develop their own passions, ideas, or dream jobs on their dime. This could now apply to me.

Sidewalk>>> Slowlane>> Fastlane?

I recently had a discussion with a friend who plainly asked, "Do you think you will be successful?" I replied, "Yes." To which she responded, then you will." Power in such a simple interaction. Believe in yourself, and you will.

 

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[BrianPM]

Update:

Officially 'graduated' from the companies training program, which essentially means I'll be full go on Monday selling. I want to complete one sale in my first week - for a few reasons. Mainly to prove to myself that I can come in and kick a$$ right off the bat, make a name for myself, and to get me rolling to build momentum. I have potentially two sales already in the mix, which would be great. I've been spending my evenings reading (preparing for assessments which were this afternoon), as well as baby books. That test will come in under 4 weeks (WTF!?).

Additionally, I've been watching some selling videos of some smooth operating guys (ie Wolf of Wallstreet Jordan Belfort). I've got to say its come in and helped my confidence and presence from the small snippet I ran on the phone with my KTG trainer, and just in general interactions. I've come to realize the people in this office have a certain personalty. To succeed, you have to be a smart a$$ and sarcastically witty - I think that helps people like you. Just have to be careful its not teetering on arrogance if a rapport isn't built beforehand. In any regard I feel as though I'm rambling on now so let's move on.

On the business front, I've got two updates to report.

1. Meeting with business owner tomorrow morning. I've been trying to connect with in person for a couple weeks now so this is big.
2. Watched a video on 'trep using guerilla marketing tactics

I've got some things prepared for him to discuss, which I was able to print off some nice booklets at the office on nice paper. I've got some ideas to help speed the progression of this businesses 'opt-in' list through the use of:

• Free-bees for joining,
  
• Longer promotional campaign windows,
  
• Information passed out with EVERY order, not just an in-store sign, (stamp info on napkins, which are given with each order)
  
• Blanket nearby colleges, or coffee shops with information on the opt-in keywords,
  
• Investigate and look into business card sized informational keyword and opt-in list notes, and
• Simpler one-word keyword code.

Essentially, I'm trying to find variables to assess, adjust, evaluate, and move forward based off that data. Once I can get some real hard crunching data together I can really move beyond this beta testing phase and get things automated, and more importantly, validated with my first 3 paying customers. To get the data, I just need a bigger sample size, however. I've gotten touches with 20 unique individuals, but for a real sample size I think I would need to be closer to 100-200. Frustrating for now, because I am big on progress, but its going to take some consistent effort to get me as well as working smarter and harder.

Short term goals:

• Increase current location from 20 - 100 by April 1
• Launch in 2 other locations
• Once I have 60 opt-ins, hire freelanced programmer to build automation on the cheap

A pictures worth a thousand words, but a demonstration is worth a thousand pictures
My live-in girlfriend/one day wife, pregnant with our first baby-girl, isn't my biggest supporter in these 'trep endeavors. It is disheartening not to have positivity and support at home, but I think that's probably more of something within her own DNA and personality and not about my talents or abilities. It can be challenging because I want to always talk about this (to the point I feel I bore my friends, family, and her about it), but her response is lukewarm at best. But ya know what, progression and validation can trump everything.

 

[BrianPM]

I was re-reading an old article while I was waiting at the DMV on validation. People love to talk about the mighty 'S' word when they haven't even validated their idea can work. Do you have 3 customers yet? Better yet, have you made $1 from your idea.

Today was an overall discouraging day at work, and the discouragements continued on with thinking of my business. My latest meeting with a business owner led to him focusing on an App and linking the other marketing outlets inside it. When I met with girl's dad earlier in the week, he shared the similar sentiments - be a one stop shop for all marketing needs.

This complicated and confused me because my idea was founded on the simplicity and narrow approach to be an expert at that one thing. That might shrink the market too small, but maybe not. Encompassing an App, SMS texting, and also a college discount card bridging all 3 together might be a more sound idea. The work seems daunting and my financials are not strong. I'm investigating getting an app created, but I'm walking into a completely unknown arena trying to work with someone half way around the world. I guess trying (and potentially failing) is the only way to know (and learn).

I have 2 ideas to grow my mobile SMS opt in list
1- Blanket the college student centers with information on the Mobile Club
2 - There is a $1 beer night that a nearby restaurant hosts on Thursdays that draws the college crowd. Either I work with that restaurant and get a mobile club going with them, or I just guerrilla market the club there. I probably should be guerilla marketing this to these kind of places just to get a proper sample size and eventually validate. God, I love writing thoughts out. It always seems to clarify and give me the answers.

 

[BrianPM]

Like many threads here TMF , this idea and thread went astray. Roughly 3 weeks after my last post, my daughter was born and everything kind of changed. A lot of chaos and uncertainty surrounded the initial event, but things have since calmed down. I've moved into a much better job environment that pays the bills, and the home life has settled with my daughter thriving.

Over the holidays I had lunch with some of my best friends and their girlfriends/fiancés. All but one of these friends live out of the area now. They both have their own businesses and are very like minded to me, highly motivated and good people. The one friend that does live local quit his job last year as an engineer and started a real estate investing business. He isn't killing it yet, but is doing well accumulating properties and is also a professional triathlete training 4-5 hours a day. The long story short is this was just the motivation I needed to get my a$$ in gear. It feels like a fire has been relit and I'm done chasing silly dreams and illusions.

I've spent the last 3-4 years trying to get ahead but never making progress. Over the last few years I've made a lot of bad personal choices mostly related to my former life as a professional poker player then affiliate. I've attempted to fill this void internally with an escape, excitement, and looking for fulfillment in foolish ways...2014 was different initially where I made some good attempts early in the year with a business venture - I created a website, approached a few business owners, established a legitimate work email, made business cards, ran some promotions that still have activity today- but the one thing I do not have to show for any of the effort or work is validation; I do not have $1 in sales to show for it. However, in the end, this was another year full of poor personal decision making and not living intentional enough.

I am set up to do well at my job in 2015 (job should be a comfortable living and also comes with residual income monthly that should grow exponentially over the course of my tenure) but no matter what kind of achievement I accomplish, I still feel this emptiness inside me that wants to strive to create a business. I still don't see myself doing this long term. I see this as a vehicle to get me to where I really want to be. In the mean time I'm learning valuable interpersonal skills dealing with business owners daily, learning about financials, payroll and starting to create a more solid life for my family. But I know there is more for me out there. Part of my desire for entrepreneurship is the personal accomplishment and satisfaction of doing what so few can and create a successful business. Tackling those internal holes and voids, will make 2015 a great year that I can look back at this moment and realize this was the moment in all changed.

 

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[BrianPM]

There's been a lot of conversation recently with family and wife about goals, finances, and just overall opening the communication channels. I still don't think she's convinced or sold on the idea of ent, as she is someone more slow lane mentality, but that can be changed. After talking with my brother who is very ent minded and created his own law firm, he basically told me I need to pull the trigger and I can sense there is some internal worry about the buying/selling thought from alibaba and like sites. I guess so much unknown and not sure how profitable it will be. I have begun to research a few products and retrain my mind to seek and identify problems and things people hate though.

I took MJ's kaizen worksheet and made some initial changes to it. Breaking it down into 3 sub categories with a way to check my progress at months end. I'll use this as if for Jan and adjust in Feb add/get rid of things. Funnily enough, I've heard this is what olympic athletes do to monitor their training progress over months. Instead of X, they use a color coding system where after 6 months when they get burnt out and start to see their training performance plateau or dip, this gives them confidence knowing how properly trained they are and that the results will come.

While I think I've made a good decision to put some parts of my life behind me, I decided I needed more accountability to help ensure I'm moving forward. Habits form after 21 days so once 3 weeks pass, things will start to automate so its important I stay on top of this in the mean time.

Outside that, I've been reading some gold threads. I think theres more value there than in stale books. Trying to pick up nuggets of wisdom one page at a time. I began to save the best posts to a word doc that resonate with me. I've been reading for almost 2 hours now. My eyes are hurting, gonna wrap this.

Oh, and by the way, happy new year.

 

[Mr.B]

2014 was different initially where I made some good attempts early in the year with a business venture - I created a website, approached a few business owners, established a legitimate work email, made business cards, ran some promotions that still have activity today- but the one thing I do not have to show for any of the effort or work is validation; I do not have $1 in sales to show for it.

That is because none of these things provide VALUE to anyone.

It's easy to build a website, set up a business email and print some business cards, but that's not real progress, it's just busy work.

Have you read the thread 'How to waste time and money playing entrepreneur'?

I spent years doing the same thing, building "businesses" that never got any further than an unlaunched website and a pile of business cards. Then I'd get stuck, the effort/risk would scare me back to the drawing board (after I convinced myself that my original idea wouldn't work as the market was too saturated or whatever bullshit I fed myself).

Then one day it clicked. It isn't about me. It is about what I can do to help others.

 

[Sean P]

I do not have $1 in sales to show for it.

Mr.B is spot on. Look for what people really need and sell it to them while also providing good value. If you sell excellent hot dogs during lunch time in the middle of your city's business district, whether you sell 10, 100 or a 1000 of them, you will be sold out within minutes.

 

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[BrianPM]

Spent hours on the forum last night and today. I did accomplish some things for work, and have one meeting in 20 mins so this will be quick to finalize a 5k deal. Spent some of this morning reading and finishing through a few of the Gold threads. @JackEdwards has one of the best threads I've come across so far. Knows his shit, and a great writer. I found myself reading and studying the ideas, thoughts, and progression with how he constructed his plan and carried it out. Almost seemed he worked backwards (end goal at beginning), while working forward.

My research unveiled 2 products that seemingly have great spreads. Want to get up to 5 products. My goal isn;t to be a online money maker however, but this is my first foray into testing out the system while learning the ropes on smaller $/unit products. Plan is to DEAL with emphasis on automating things as much as possible. I also began researching some successful old industries that I have done business with. Going to learn as much about those as I can and then use my sales exp to the max.

BPM

 

[BrianPM]

Just had a potential break through on a possible product. Don't want to write too much just yet as I have a lot of research to do. Will update soon with info

 

[Mr.B]

 

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[dfw1]

I hope the best for you.

 

[BrianPM]

The breakthrough I had wasn't really for a product, but an idea. I still think it has some value, albeit not a company, but an opportunity to make some quick profit. Will be talking to a trusted advisor this week, and then a publisher following. I do foresee some hurdles, but still think there is potential and it would be a good time to start to build momentum for a year-end seasonal buying.

Looking at things on a different stroke, a successful entrepreneur and friend of mine, were talking about a possible business that could be an avenue to change a niche industry, similar to how flower shops have been revolutionized the industry with teleflora, and 1-800 flowers essentially weakening flower shops profitability with the scale and direct avenue of internet searches. Will update again this week, but I know there is much for me to learn.

 

[Change]

I think you are doing this wrong.

Do this... just do it, and don't ask questions.

1. What is your monthly goal of income? 15k, bf taxes/expenses...?
2. You have business ideas/things you can "Try" that "logically" do offer value to the customer and in turn can make you a profit...
2A.... LIST THEM ALL ON A SPREADSHEET
3. Order them from "easier" to "hardest" to get sales.... just categorize them..
4. Next, AND ONLY AFTER STEP 3... write down what the average product sale price will be.
5. Then, take your goal, in this sense 10,000$ and divide by that...
6. You end up with the total number of sales needed for the month...
7. Now go down the list and cross out things that you will not like to do, but can do if it was the only option... CROSS OUT WHAT YOU DO NOT LIKE... DO NOT LOOK at pricing/income etc or how easy it is etc...
8. Next, cross out the items that take too many sales to generate AND are hard to make the sale/start the business...

What you are left with...is a business, that takes a lot of sales to make, but are easy to get started and make sales... or takes a few sales to make AND is easy to get started and make sales... (I think)...

Choose one.

Then generate yourself a todo list...

1. List to get started/running
2. List to scale automate, is to be done after you reach step 1.
3. ....

What happens? You give yourself a to do list that is based on a goal, that 10-15k of income a month.


Can you guess where you are going wrong?...as that is what I started with... the "NOT HAVING" an actual system to follow/goal to meet.

Choose something on the list that remains, and DO IT. And dont quit, until you finish your to-do lists for the day...and expand the to-do if you have to, and condense if you have to.

You want to be EFFECTIVE AND EFFICIENT. NOT just effective, NOT just efficient...in your tasks.

Good luck! I want to see more actionable things posted... ie... I did this, I did this, and I did this to start my business.

You need to change your ways. As with change you get to ANYWHERE but where you currently are. And with CHANGE you get different results... As such, if you want to change your financial position= CHANGE your tasks.

Do not change your tasks and you will remain where you are.

 

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[BrianPM]

Changed gears quite a bit...

So I changed gears significantly over my time here reading and posting on TMF . I'm currently in a job which does share some fast lane attributes. Control can be an issue when you are an employee and not CEO, however. Selling credit card processing thru a highly reputable company does offer a highly unique comp plan which many in the fast lane can admire:

No salary - so its sink or swim
Up front bonuses (sale made, paid in under a week)
Lifetime residuals - even after I quit as long as they stay a client (current retention rate of 100% in roughly 2 years)
Portfolio equity x30 (cash in residuals for 30x up to twice a year i.e $1,000 in residuals = $30,000 commission check)
No standard office to report to or standard time wasting BS job reports/nonsense
Very entrepreneur minded environment​

After roughly 17 months of solid yet unspectacular results, I've begun to start to turn the keys on sales and the overall process thru my own personal network and collaborated efforts of multiple parties. I still have significant improvements to make, however. I will say this, my past and current job experiences have improved my ability to interact, read, and lead a sales presentation 1000%. When I walk into a sales call or meeting, I have a very sharp game plan compared to when I first read TMF and how naive and inexperienced I was. I read a post this week and someone mentioned the biggest way to get better at sales is by practice, overcoming the fear of rejection, and that is so true. I think the next evolution is moving on to bigger fish and bigger deals. In this industry (and perhaps in others too), higher end clients seem less concerned by price and don't view it as a commodity plus steeper barriers to entry help shield account penetration.

Other random mumblings...

I alluded to a few ideas in my previous post. I do believe I have 2-3 hidden gem ideas that I have left untapped. These markets I largely have 0 experience in which make it difficult, but I do see value and need present. Around the time one of theses ideas began to get kicked around with my friend, an upstart did begin to rattle the industry. By all accounts the aforementioned company has continued to build a profitable business.

Also, I'm considering joining the INSIDERS access. If anyone has any thoughts - positive or negative - about joining the INSIDERS please leave a comment or PM me. I will say that I find my days short on time more often than not, so I won't be able to sit for hours on end to read the forum if that should help determine my decision in any way.

Oh and lastly. If anyone has any questions about the credit card industry, ask away. I'd love to help share some information on a largely misunderstood market.

 

[Kingmaker]

Changed gears quite a bit...

So I changed gears significantly over my time here reading and posting on TMF . I'm currently in a job which does share some fast lane attributes. Control can be an issue when you are an employee and not CEO, however. Selling credit card processing thru a highly reputable company does offer a highly unique comp plan which many in the fast lane can admire:

No salary - so its sink or swim
Up front bonuses (sale made, paid in under a week)
Lifetime residuals - even after I quit as long as they stay a client (current retention rate of 100% in roughly 2 years)
Portfolio equity x30 (cash in residuals for 30x up to twice a year i.e $1,000 in residuals = $30,000 commission check)
No standard office to report to or standard time wasting BS job reports/nonsense
Very entrepreneur minded environment​

After roughly 17 months of solid yet unspectacular results, I've begun to start to turn the keys on sales and the overall process thru my own personal network and collaborated efforts of multiple parties. I still have significant improvements to make, however. I will say this, my past and current job experiences have improved my ability to interact, read, and lead a sales presentation 1000%. When I walk into a sales call or meeting, I have a very sharp game plan compared to when I first read TMF and how naive and inexperienced I was. I read a post this week and someone mentioned the biggest way to get better at sales is by practice, overcoming the fear of rejection, and that is so true. I think the next evolution is moving on to bigger fish and bigger deals. In this industry (and perhaps in others too), higher end clients seem less concerned by price and don't view it as a commodity plus steeper barriers to entry help shield account penetration.

Other random mumblings...

I alluded to a few ideas in my previous post. I do believe I have 2-3 hidden gem ideas that I have left untapped. These markets I largely have 0 experience in which make it difficult, but I do see value and need present. Around the time one of theses ideas began to get kicked around with my friend, an upstart did begin to rattle the industry. By all accounts the aforementioned company has continued to build a profitable business.

Also, I'm considering joining the INSIDERS access. If anyone has any thoughts - positive or negative - about joining the INSIDERS please leave a comment or PM me. I will say that I find my days short on time more often than not, so I won't be able to sit for hours on end to read the forum if that should help determine my decision in any way.

Oh and lastly. If anyone has any questions about the credit card industry, ask away. I'd love to help share some information on a largely misunderstood market.

https://en.wikipedia.org/wiki/Bryan_Johnson_(entrepreneur)

"Johnson formed the idea for Braintree while he was working at a part-time job selling credit card processing services to businesses, work that he took to help pay his bills while the real estate venture foundered. Johnson became the top salesperson out of 400 nationwide, breaking previous sales records."

"Johnson has said his goal was to improve customers’ payment experiences—something he saw lacking—and to build an “exceptional” company that both his team and their customers would love.

"Johnson formed Braintree and approached some of his old customers to solicit their business."


What do you see in credit card industry that needs improvement?

If your ideas are not in credit card industry space, why are you not doing sales in the specific industry they are in instead, to overcome the "0 experience" problem?

 

[BrianPM]

^ Great post above. Definitely inspiring and interesting hearing success stories.

I'm primarily in the restaurant and hospitality spaces. I have accounts in nearly every vertical, but those are my primary clients. The industries I'd like to grow into are grocery and e-com, both of which the company is lacking in infrastructure and is probably weakest.

I'm definitely improving my approach to the job and becoming more efficient. Some of the sales reps here make $25,000-35,000 a month in residuals after 10-15 years plus pulling in outrageous numbers in signing bonuses. So staying here long term is a somewhat fast lane operation where the earnings can be in the $300,000-600,000 range in 5-10 years, and easily $100-200,000 over the next 2 years.

** side caveat** The company was recently bought this past week by a bigger processor; they tell us no change will be made to USA, but we now can sell internationally which could open more doors, and this is what happens when you aren't the CEO - you have no control.

I'm gonna crank up my networking, reading/(cds while in car), and overall accountability making more of myself. My primary focus will be on cranking up my revenue inside my work the next 6 months, and taking care of my mind and body as I meet the right people and create the right opportunities in the spaces I want to expand into.

 

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[BrianPM]

Does anyone know about grocery stores and the overall margins on standard products sold? I imagine it can range from loss leaders to high mark ups (read that perishable and meats are upwards of 60% margin to account for attrition).