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458

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That's solid form your have going @458.

I think diet is the hardest part to get right. Ive been waking up at 430am every morning, starting with a workout but my diet has been average to say the least. I easily cave into temptation and it's something I need to work on.

Now that I've been waking early for a while, Ive slept in to 5am today and was just so disappointed with myself.


I would agree, diet is definitely the hardest thing to stay consistent with and get right but once you get it right your energy is amazing and you never want to go back.

It took me years to get to this point with my diet and exercise.. Food companies biologically and chemically engineer their foods to look, smell, and taste INSANE so that they cause long term addiction. Unless a person forces themselves off of sugar in all forms including breads and starches it is basically impossible to be healthy and fit.

Bread and chocolate have always been my struggle and only recently have i been able to let go.

In regard to exercise, the best advise i can give is make it simple and convenient to integrate into your current lifestyle. If you work in a tall building, take your gym clothes to work and run up and down the stairs each day for example. If you like to lift, buy a rack and add it in your home or office.

oh, and, STOP WATCHING PORN
 

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458

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based off reading your threads and posts, you recommend starting in industries/businesses that are scalable that can use the phone to sell something that isn't physical. What are your thoughts on the following?
debt collection,
mortgages
insurance,

do you have any others that are great low/cost startups that use sales/phones to grow?

You told me years ago to try get a job at a car dealership but is that really fastlane long term? I did actually take action on your posts and got a sales job years back but f*cked up since.

No industry will fix your poor work habits. You can get rich in any industry, my advise is just to heighten the probability of success but it assumes you are already working your face off 80-100 hours per week.

You do not have to start at a car dealership, you can start anywhere.. The point of that advise was to find an employer that can provide you with a phone and leads so that you are forced to start cold calling and practicing.

You need at least 2 years and 50,000 dials to learn how to cold call properly. Theoretically you could build that list yourself and cold call from home but then you still need the back end support to provide the product or service which will take you away from learning how to cold call.

Having an employer that takes care of all of that for you is where you can really learn the game quick and then move on to a better place or go out on your own.
 

Roughneck

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I would agree, diet is definitely the hardest thing to stay consistent with and get right but once you get it right your energy is amazing and you never want to go back.

It took me years to get to this point with my diet and exercise.. Food companies biologically and chemically engineer their foods to look, smell, and taste INSANE so that they cause long term addiction. Unless a person forces themselves off of sugar in all forms including breads and starches it is basically impossible to be healthy and fit.

Bread and chocolate have always been my struggle and only recently have i been able to let go.

In regard to exercise, the best advise i can give is make it simple and convenient to integrate into your current lifestyle. If you work in a tall building, take your gym clothes to work and run up and down the stairs each day for example. If you like to lift, buy a rack and add it in your home or office.

oh, and, STOP WATCHING PORN

I follow a 30 day exercise program which is easy to wake up and jump right on in. After 15 days I am feeling great. Only downside is I work weekends once a month, usually 12 hour days plus travel. I try and replace the exercise with a quick stretch. It also helped getting the motivation after reading the Morning Morning.

Bread is the hardest, I've managed to stay off it for a few days now.
 

Nice_home

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Feb 19, 2019
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1) Curious how much you actually take out of the company personally? Doesn't need to be exact, but at least in ballpark figures? You mentioned 3% somewhere along the way, let's say you're doing $150k / week * 52 weeks, that's 7,800,000 gross, so are you taking out $234,000 / year? You're talking big game, so I'm assuming/presuming it's more? Or perhaps where you live there is a low-ish standard of living so that $ goes a long way? Or perhaps it's because of the perceived asset value of the company you've created (see more below)? (That doesn't seem like a lot of personal wealth to me, not cuz I make more or something, but just looking out there comparatively.)

2) Somewhere along the way I think you mentioned something along the lines of (paraphrasing) "there's always time to take money out of the company *later* when it hits a mature phase (after the current growth phase)." I would like to offer a counter-view here, I had a company that grew like crazy (~7.5x rev growth into the multimillions over a few years), which subsequently shrank over the next several years, which I exited and is currently earning nearly zero. At its heights I didn't take out much if anything, I wonder if you could respond to whether you would consider it a possibility that this same pattern could happen to you? I'm genuinely asking whether you have multiple or somehow diversified or stabilized revenue streams that afford you confidence that you will have the chance to reap those "dividends"/payouts sometime in the future?

3) Again, somewhere along the way you mentioned that you could grow the biz to 100 mil if you added a handful (30 or so?) staff. I would again offer a counter-view or question, which is, does your industry allow that type of scale? A very close family friend of mine actually took a company public to the tune of giving her $100MM+ *personal* assets, that's because it was a based on a scientifically researched, new product that was sold for thousands of dollars a pop and had a huge target market of consumers nationwide and globally (MJ's "scale + magnitude" equation). I just don't see how from everything you've described you would get anywhere near that anytime soon, especially if (per the above calculation) you are doing 7.8MM in sales? Am I just missing something completely here? Originally you mentioned you have a biz partner, let's say you're in 50/50 with them, and the company trades at 2x-3x of revenue, then your value would be ~11.7MM (still a lot of personal value, but not really so close to the 100MM mark)... and you need to find a buyer at that price or otherwise "exit." For that matter, do you have an "exit" plan/strategy? (Again, genuinely asking.)

4) You had another REIT biz you wanted to take public, what happened with that?

5) (Genuinely asking) What would you say are your 2-3 biggest weaknesses? Is porn seriously a weakness for real? Or were you just saying that for others?

6) Roughly how many stats are you tracking (you mentioned you are tracking a lot of stats)? Would you say that tracking this type of data has been critical to developing your systems? Or secondary?

Been lurking in the background for a while on this forum, though I made an introductory post a while back and got nothing :(

That said, I read several posts today that really lit a fire.

And then I read through your past thread and this thread pretty much entirely. Hence the q's~

Thanks!
 

Fox

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Whats wrong with porn for you?

Cause it badly messes up your dopamine and reward systems. It makes you lazy, unable to think clearly, and less ambitious.

Tons of scientific research on this.

Get the brainbuddy app if you want to learn why it’s so bad/how to quit.
 

458

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Whats wrong with porn for you?

Every time you eat sugar or watch porn you are literally hitting a crack pipe, the rush and high are the same followed by a hard crash. There is nothing natural or normal about those two pastimes. Best thing I ever did for myself was getting rid of both out of my life completely.
 

458

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1) Curious how much you actually take out of the company personally? Doesn't need to be exact, but at least in ballpark figures? You mentioned 3% somewhere along the way, let's say you're doing $150k / week * 52 weeks, that's 7,800,000 gross, so are you taking out $234,000 / year? You're talking big game, so I'm assuming/presuming it's more? Or perhaps where you live there is a low-ish standard of living so that $ goes a long way? Or perhaps it's because of the perceived asset value of the company you've created (see more below)? (That doesn't seem like a lot of personal wealth to me, not cuz I make more or something, but just looking out there comparatively.)

2) Somewhere along the way I think you mentioned something along the lines of (paraphrasing) "there's always time to take money out of the company *later* when it hits a mature phase (after the current growth phase)." I would like to offer a counter-view here, I had a company that grew like crazy (~7.5x rev growth into the multimillions over a few years), which subsequently shrank over the next several years, which I exited and is currently earning nearly zero. At its heights I didn't take out much if anything, I wonder if you could respond to whether you would consider it a possibility that this same pattern could happen to you? I'm genuinely asking whether you have multiple or somehow diversified or stabilized revenue streams that afford you confidence that you will have the chance to reap those "dividends"/payouts sometime in the future?

3) Again, somewhere along the way you mentioned that you could grow the biz to 100 mil if you added a handful (30 or so?) staff. I would again offer a counter-view or question, which is, does your industry allow that type of scale? A very close family friend of mine actually took a company public to the tune of giving her $100MM+ *personal* assets, that's because it was a based on a scientifically researched, new product that was sold for thousands of dollars a pop and had a huge target market of consumers nationwide and globally (MJ's "scale + magnitude" equation). I just don't see how from everything you've described you would get anywhere near that anytime soon, especially if (per the above calculation) you are doing 7.8MM in sales? Am I just missing something completely here? Originally you mentioned you have a biz partner, let's say you're in 50/50 with them, and the company trades at 2x-3x of revenue, then your value would be ~11.7MM (still a lot of personal value, but not really so close to the 100MM mark)... and you need to find a buyer at that price or otherwise "exit." For that matter, do you have an "exit" plan/strategy? (Again, genuinely asking.)

4) You had another REIT biz you wanted to take public, what happened with that?

5) (Genuinely asking) What would you say are your 2-3 biggest weaknesses? Is porn seriously a weakness for real? Or were you just saying that for others?

6) Roughly how many stats are you tracking (you mentioned you are tracking a lot of stats)? Would you say that tracking this type of data has been critical to developing your systems? Or secondary?

Been lurking in the background for a while on this forum, though I made an introductory post a while back and got nothing :(

That said, I read several posts today that really lit a fire.

And then I read through your past thread and this thread pretty much entirely. Hence the q's~

Thanks!

Since your questions were long and detailed, I wrote them out below and then added the answers in bold:

Question 1) Curious how much you actually take out of the company personally? Doesn't need to be exact, but at least in ballpark figures? You mentioned 3% somewhere along the way, let's say you're doing $150k / week * 52 weeks, that's 7,800,000 gross, so are you taking out $234,000 / year? You're talking big game, so I'm assuming/presuming it's more? Or perhaps where you live there is a low-ish standard of living so that $ goes a long way? Or perhaps it's because of the perceived asset value of the company you've created (see more below)? (That doesn't seem like a lot of personal wealth to me, not cuz I make more or something, but just looking out there comparatively.)

Answer 1. The first thing you realize when you start making a lot of income is that it is virtually impossible to become rich from earned income. This venture is a stepping stone into bigger and better things(IE. Equity transactions). You are also not factoring in my hours involved in the venture. At this point I have staff for basically everything, my involvement is around 10 minutes per day. That is 260 hours per year which if we assume your example equates to $234k / 260 hours = $900 an hour. Then you need to factor in the time afforded to me to freely work on another venture because obviously i am not just sitting around, i am actively working on the next thing and i have been for many years now.

Question 2) Somewhere along the way I think you mentioned something along the lines of (paraphrasing) "there's always time to take money out of the company *later* when it hits a mature phase (after the current growth phase)." I would like to offer a counter-view here, I had a company that grew like crazy (~7.5x rev growth into the multimillions over a few years), which subsequently shrank over the next several years, which I exited and is currently earning nearly zero. At its heights I didn't take out much if anything, I wonder if you could respond to whether you would consider it a possibility that this same pattern could happen to you? I'm genuinely asking whether you have multiple or somehow diversified or stabilized revenue streams that afford you confidence that you will have the chance to reap those "dividends"/payouts sometime in the future?

Answer 2. Nothing is forever, nothing is ever guaranteed. When i say there is always time to take money out of the company I am referring to myself and my venture, no one elses. If you know anything about Warren Buffets story you know he bought and has retained Sees Candy for many years, I would consider what I have built a bit like that. I have extreme moat against competitors and my customer base is never going to disappear.

Question 3) Again, somewhere along the way you mentioned that you could grow the biz to 100 mil if you added a handful (30 or so?) staff. I would again offer a counter-view or question, which is, does your industry allow that type of scale? A very close family friend of mine actually took a company public to the tune of giving her $100MM+ *personal* assets, that's because it was a based on a scientifically researched, new product that was sold for thousands of dollars a pop and had a huge target market of consumers nationwide and globally (MJ's "scale + magnitude" equation). I just don't see how from everything you've described you would get anywhere near that anytime soon, especially if (per the above calculation) you are doing 7.8MM in sales? Am I just missing something completely here? Originally you mentioned you have a biz partner, let's say you're in 50/50 with them, and the company trades at 2x-3x of revenue, then your value would be ~11.7MM (still a lot of personal value, but not really so close to the 100MM mark)... and you need to find a buyer at that price or otherwise "exit." For that matter, do you have an "exit" plan/strategy? (Again, genuinely asking.)

Answer 3. No, it does not allow that type of scale and that is why i haven't added more staff because I will level out revenue wise fairly quickly around 15-20m. It is also why I have been actively working on my next venture for a few years now using everything I have learned in this first venture. In regard to an exit, see number 1, there is no need for an exit. I am not burning cash and my time commitment is minimum. Again, Buffet is not looking to exit Sees Candy, for what? There is no reason.. Every venture is different..

Question 4) You had another REIT biz you wanted to take public, what happened with that?

Answer 4. Launch is set for January 2020. I have been building my base and foundation for that project for a few years now and I will be ready to quickly go out and raise tens, if not, hundreds of millions of dollars basically overnight. I have something no one else has and I will be able to pick and choose who i want to raise money from. I am really only looking for 5-10 investors that will send me 5-10 million and never call me. I am not interested in raising a few thousand dollars from thousands of people and have to be at there emotional beck and call all the time because they don't understand how the game works.

Question 5) (Genuinely asking) What would you say are your 2-3 biggest weaknesses? Is porn seriously a weakness for real? Or were you just saying that for others?

Answer 5. Yes, until recently, porn was definitely number 1. My second biggest weakness would be my rage, anger, and temper which i have been working on for many many years and have recently gotten under control for the most part. My third biggest weakness is that i can be stubborn with my ideas by thinking I know everything and then impulsively acting on that belief.

Question 6) Roughly how many stats are you tracking (you mentioned you are tracking a lot of stats)? Would you say that tracking this type of data has been critical to developing your systems? Or secondary?

Answer 6. Stats are everything, numbers do not lie. When you have staff, you will need to close them on the ideas and shifts in direction that you are proposing they take and follow. Without numbers to backup what you are saying you will have a hard time closing anyone on anything. With my second venture (which is a startup), I am going to start out tracking, running reports, and using Einstein machine learning with around 200,000 fields of extremely relevant data points.

Hope that helps!
 

Elsa

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Jul 8, 2019
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Hitting stride now but still growing fast, 2019 should have us averaging 150k a week, right now i am at 75k per week.

I've learned a lot as we have grown, who has questions? Add them below and I'll answer (good questions only).

EDIT: SPECIFIC QUESTIONS RELATED TO YOUR OWN STARTUP OR BUSINESS, NOT RELATED TO MINE.

EDIT EDIT: A few current fun facts for everyone:

1. Current Age: 29
2. Xmas gift to myself: Topre Keyboard
3. Drink of choice: COFFEE x 1,000
4. Current work schedule: Mon - Fri 4am to 5pm and Sat 10am to 6pm
5. Current ride: Your mom
of all the things I read,
your current ride is my fav.

Congratulations! I like hearing/reading inspiring stories like these :cool:
 

Nice_home

Contributor
Read Millionaire Fastlane
Feb 19, 2019
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Since your questions were long and detailed, I wrote them out below and then added the answers in bold:

Question 1) Curious how much you actually take out of the company personally? Doesn't need to be exact, but at least in ballpark figures? You mentioned 3% somewhere along the way, let's say you're doing $150k / week * 52 weeks, that's 7,800,000 gross, so are you taking out $234,000 / year? You're talking big game, so I'm assuming/presuming it's more? Or perhaps where you live there is a low-ish standard of living so that $ goes a long way? Or perhaps it's because of the perceived asset value of the company you've created (see more below)? (That doesn't seem like a lot of personal wealth to me, not cuz I make more or something, but just looking out there comparatively.)

Answer 1. The first thing you realize when you start making a lot of income is that it is virtually impossible to become rich from earned income. This venture is a stepping stone into bigger and better things(IE. Equity transactions). You are also not factoring in my hours involved in the venture. At this point I have staff for basically everything, my involvement is around 10 minutes per day. That is 260 hours per year which if we assume your example equates to $234k / 260 hours = $900 an hour. Then you need to factor in the time afforded to me to freely work on another venture because obviously i am not just sitting around, i am actively working on the next thing and i have been for many years now.

Question 2) Somewhere along the way I think you mentioned something along the lines of (paraphrasing) "there's always time to take money out of the company *later* when it hits a mature phase (after the current growth phase)." I would like to offer a counter-view here, I had a company that grew like crazy (~7.5x rev growth into the multimillions over a few years), which subsequently shrank over the next several years, which I exited and is currently earning nearly zero. At its heights I didn't take out much if anything, I wonder if you could respond to whether you would consider it a possibility that this same pattern could happen to you? I'm genuinely asking whether you have multiple or somehow diversified or stabilized revenue streams that afford you confidence that you will have the chance to reap those "dividends"/payouts sometime in the future?

Answer 2. Nothing is forever, nothing is ever guaranteed. When i say there is always time to take money out of the company I am referring to myself and my venture, no one elses. If you know anything about Warren Buffets story you know he bought and has retained Sees Candy for many years, I would consider what I have built a bit like that. I have extreme moat against competitors and my customer base is never going to disappear.

Question 3) Again, somewhere along the way you mentioned that you could grow the biz to 100 mil if you added a handful (30 or so?) staff. I would again offer a counter-view or question, which is, does your industry allow that type of scale? A very close family friend of mine actually took a company public to the tune of giving her $100MM+ *personal* assets, that's because it was a based on a scientifically researched, new product that was sold for thousands of dollars a pop and had a huge target market of consumers nationwide and globally (MJ's "scale + magnitude" equation). I just don't see how from everything you've described you would get anywhere near that anytime soon, especially if (per the above calculation) you are doing 7.8MM in sales? Am I just missing something completely here? Originally you mentioned you have a biz partner, let's say you're in 50/50 with them, and the company trades at 2x-3x of revenue, then your value would be ~11.7MM (still a lot of personal value, but not really so close to the 100MM mark)... and you need to find a buyer at that price or otherwise "exit." For that matter, do you have an "exit" plan/strategy? (Again, genuinely asking.)

Answer 3. No, it does not allow that type of scale and that is why i haven't added more staff because I will level out revenue wise fairly quickly around 15-20m. It is also why I have been actively working on my next venture for a few years now using everything I have learned in this first venture. In regard to an exit, see number 1, there is no need for an exit. I am not burning cash and my time commitment is minimum. Again, Buffet is not looking to exit Sees Candy, for what? There is no reason.. Every venture is different..

Question 4) You had another REIT biz you wanted to take public, what happened with that?

Answer 4. Launch is set for January 2020. I have been building my base and foundation for that project for a few years now and I will be ready to quickly go out and raise tens, if not, hundreds of millions of dollars basically overnight. I have something no one else has and I will be able to pick and choose who i want to raise money from. I am really only looking for 5-10 investors that will send me 5-10 million and never call me. I am not interested in raising a few thousand dollars from thousands of people and have to be at there emotional beck and call all the time because they don't understand how the game works.

Question 5) (Genuinely asking) What would you say are your 2-3 biggest weaknesses? Is porn seriously a weakness for real? Or were you just saying that for others?

Answer 5. Yes, until recently, porn was definitely number 1. My second biggest weakness would be my rage, anger, and temper which i have been working on for many many years and have recently gotten under control for the most part. My third biggest weakness is that i can be stubborn with my ideas by thinking I know everything and then impulsively acting on that belief.

Question 6) Roughly how many stats are you tracking (you mentioned you are tracking a lot of stats)? Would you say that tracking this type of data has been critical to developing your systems? Or secondary?

Answer 6. Stats are everything, numbers do not lie. When you have staff, you will need to close them on the ideas and shifts in direction that you are proposing they take and follow. Without numbers to backup what you are saying you will have a hard time closing anyone on anything. With my second venture (which is a startup), I am going to start out tracking, running reports, and using Einstein machine learning with around 200,000 fields of extremely relevant data points.

Hope that helps!

That's great, super duper informative (and helpful), thanks for answering!

My only follow up Qs for now are related to point #6. Ideally how many key metrics would you want to manage without just sitting there all day looking at data (so you still have time to "do" stuff about the data)?

Now I know absolutely nothing about machine learning. But I'm somehow presuming you are going to distill the 200,000 data points into several key metrics you regularly track.

I became acquainted with this guy who was a super successful "serial entrepreneur" who ultimately took one of his companies IPO, among other ventures.

As we talked he said he managed by using around 18 KPIs. And he went through those with his Executive Team on a weekly basis.

Currently as a solopreneur/side hustler, that feels to me like a *lot* of metrics to track. Like I could spend the 1 hour per day I have for my side project just updating the data for the metrics.

Has this been an issue for you (managing the data vs doing the real work)? How have you balanced it?

Related but different, how much of your growth would be attributed to building up the right habits and keeping them consistently vs actually developing "new" innovations of your systems (and/or forming new/better/upgraded habits)? So basically, consistency vs innovation in terms of process, what's more important for you?
 

458

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Speedway Pass
May 21, 2011
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That's great, super duper informative (and helpful), thanks for answering!

My only follow up Qs for now are related to point #6. Ideally how many key metrics would you want to manage without just sitting there all day looking at data (so you still have time to "do" stuff about the data)?

Now I know absolutely nothing about machine learning. But I'm somehow presuming you are going to distill the 200,000 data points into several key metrics you regularly track.

I became acquainted with this guy who was a super successful "serial entrepreneur" who ultimately took one of his companies IPO, among other ventures.

As we talked he said he managed by using around 18 KPIs. And he went through those with his Executive Team on a weekly basis.

Currently as a solopreneur/side hustler, that feels to me like a *lot* of metrics to track. Like I could spend the 1 hour per day I have for my side project just updating the data for the metrics.

Has this been an issue for you (managing the data vs doing the real work)? How have you balanced it?

Related but different, how much of your growth would be attributed to building up the right habits and keeping them consistently vs actually developing "new" innovations of your systems (and/or forming new/better/upgraded habits)? So basically, consistency vs innovation in terms of process, what's more important for you?

I always try and answer questions on the forum in relation to the experience level the person has as an entrepreneur. In the beginning there are really only two metrics you need to be tracking (in Google sheets preferably). These are:

  1. Numerical effort exerted each and every day to produce a sale (For myself this would have been total number of cold calls made that day but for yourself it may be something different. For eCommerce it could be ad dollars spent or emails sent out)
  2. Number of sales generated from the numerical effort exerted that day.
At the end of the day, when your just starting out, that is all you need to be concerned with. Your ALWAYS and I mean ALWAYS going to have waste in your system or model, it is impossible to eliminate. In the beginning you just want to build actionable habits and make sure you are gaining momentum.

For example, if this is your results after a month:

Total DialsTotal Sales
7/1/2019​
1.00 -
7/2/2019​
10.00 -
7/3/2019​
25.00 -
7/4/2019​
58.00 -
7/5/2019​
4.00 -
7/6/2019​
56.00 -
7/7/2019​
33.00 -
7/8/2019​
6.00 -
7/9/2019​
3.00 -
7/10/2019​
3.00 -
7/11/2019​
100.00 -
7/12/2019​
1.00 -
7/13/2019​
10.00 -
7/14/2019​
25.00 -
7/15/2019​
58.00 -
7/16/2019​
4.00 -
7/17/2019​
56.00 -
7/18/2019​
33.00 -
7/19/2019​
6.00 -
7/20/2019​
3.00 -
7/21/2019​
3.00 -
7/22/2019​
100.00 -
7/23/2019​
1.00 -
7/24/2019​
10.00 -
7/25/2019​
25.00 -
7/26/2019​
58.00 -
7/27/2019​
4.00 -
7/28/2019​
56.00 -
7/29/2019​
33.00 -
7/30/2019​
6.00 -
7/31/2019​
3.00 -
794.00 -


Then you need to go back and troubleshoot, possibly add in a third column for prospects and refine down from there. Then next month you can see if you are getting more or less prospects per dial. If you are getting more then you are making progress and need to refine your close to convert them or you need to increase your dials. The same process of refining your process is universal for anything else including eCommerce, etc etc.

Keep in mind that I am using APIs and utilizing hundreds of thousands of data points but those are just my inputs. My actionable output data is basically three or four fields. The point of big data is to build a model that can utilize all your data fields & assumptions which are then converted into 1 to 10 actionable fields of data that you can make moves with.

Let me know if that was helpful or if you have any other questions
 

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Nice_home

Contributor
Read Millionaire Fastlane
Feb 19, 2019
47
53
107
I always try and answer questions on the forum in relation to the experience level the person has as an entrepreneur. In the beginning there are really only two metrics you need to be tracking (in Google sheets preferably). These are:

  1. Numerical effort exerted each and every day to produce a sale (For myself this would have been total number of cold calls made that day but for yourself it may be something different. For eCommerce it could be ad dollars spent or emails sent out)
  2. Number of sales generated from the numerical effort exerted that day.
At the end of the day, when your just starting out, that is all you need to be concerned with. Your ALWAYS and I mean ALWAYS going to have waste in your system or model, it is impossible to eliminate. In the beginning you just want to build actionable habits and make sure you are gaining momentum.

For example, if this is your results after a month:

Total DialsTotal Sales
7/1/2019​
1.00 -
7/2/2019​
10.00 -
7/3/2019​
25.00 -
7/4/2019​
58.00 -
7/5/2019​
4.00 -
7/6/2019​
56.00 -
7/7/2019​
33.00 -
7/8/2019​
6.00 -
7/9/2019​
3.00 -
7/10/2019​
3.00 -
7/11/2019​
100.00 -
7/12/2019​
1.00 -
7/13/2019​
10.00 -
7/14/2019​
25.00 -
7/15/2019​
58.00 -
7/16/2019​
4.00 -
7/17/2019​
56.00 -
7/18/2019​
33.00 -
7/19/2019​
6.00 -
7/20/2019​
3.00 -
7/21/2019​
3.00 -
7/22/2019​
100.00 -
7/23/2019​
1.00 -
7/24/2019​
10.00 -
7/25/2019​
25.00 -
7/26/2019​
58.00 -
7/27/2019​
4.00 -
7/28/2019​
56.00 -
7/29/2019​
33.00 -
7/30/2019​
6.00 -
7/31/2019​
3.00 -
794.00 -


Then you need to go back and troubleshoot, possibly add in a third column for prospects and refine down from there. Then next month you can see if you are getting more or less prospects per dial. If you are getting more then you are making progress and need to refine your close to convert them or you need to increase your dials. The same process of refining your process is universal for anything else including eCommerce, etc etc.

Keep in mind that I am using APIs and utilizing hundreds of thousands of data points but those are just my inputs. My actionable output data is basically three or four fields. The point of big data is to build a model that can utilize all your data fields & assumptions which are then converted into 1 to 10 actionable fields of data that you can make moves with.

Let me know if that was helpful or if you have any other questions

Yes that was super duper helpful! Thanks!

For me as my current site is generating $ from content publishing, #1 and #2 above seem to be:

1) # of articles
2) $s in ad income

I noticed there's no 1-1 correlation but generally, more content should = more $s.

======

Going back to your posts and the topic at hand, are you able to generally (not specifically) describe the "1 to 10 actionable fields of data" that you are tracking? I'm curious what you consider are the most important key metrics for your biz (perhaps there is something to glean from that)?
 

Nice_home

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Oh and I just remembered my other question, if you were going to do it again, what (if anything) would you do to shorten the timeline of "5 years of hustle with little income from the project" (paraphrasing you from somewhere else in the thread)? Do you think for your next project(s) you will be able to shorten that timeline based on the knowledge you take away from your first main company? If so, any nuggets you can share about that?
 

458

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Yes that was super duper helpful! Thanks!

For me as my current site is generating $ from content publishing, #1 and #2 above seem to be:

1) # of articles
2) $s in ad income

I noticed there's no 1-1 correlation but generally, more content should = more $s.

======

Going back to your posts and the topic at hand, are you able to generally (not specifically) describe the "1 to 10 actionable fields of data" that you are tracking? I'm curious what you consider are the most important key metrics for your biz (perhaps there is something to glean from that)?

The main two for my new project are:

1. 5 year IRR
2. Offer price

These two actionable fields are distilled down from thousands of other raw data points and calculations.
 

458

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Oh and I just remembered my other question, if you were going to do it again, what (if anything) would you do to shorten the timeline of "5 years of hustle with little income from the project" (paraphrasing you from somewhere else in the thread)? Do you think for your next project(s) you will be able to shorten that timeline based on the knowledge you take away from your first main company? If so, any nuggets you can share about that?

Nothing.

All my mistakes were incredibly painful but that pain is what ingrains them into you so deeply that you never forget which in turn allows you to learn and grow. I mostly always look forward, i only look back to compare my current momentum and speed of progress compared to my momentum and speed of progress in the past to make sure I am not starting to lag behind and stop doing the things that made me successful in the first place.

99.99999999999% of all self made millionaires or billionaires did not make there wealth in there first successful venture. There will be 100 ventures you start that fail, then you will have something that finally clicks and makes money. This first success will make a you paper millionaire. After this first success you will learn an insane amount which will increase your probability of duplicating that success in a second or third larger and more fruitful venture that can turn you into a true multi millionaire or billionaire if you choose to continue on.

I did not begin working on my second venture for any other purpose except I know myself extremely well. I knew that within a few years i would perfect and cap out my first venture at which time it would become too easy and i would become bored. Before I began building my second venture I did a lot of research to determine where I wanted to be in which I could build something SO INCREDIBLY LARGE that it would occupy my thirst for challenges for AT LEAST 10 to 20 years. This meant I needed to find something I could start from zero and scale into the billions of dollars in revenue & market cap within that time frame. With that mind frame though, you tend to slow yourself down and not cut corner or take money from people that do not have your best interests in mind. It allows you to build a rock solid foundation and scale peacefully and elegantly without the jarring aspects of a typical venture that grows thousands of percent one year and then contracts the next year.

All real entrepreneurs understand the itch. The itch needs to be scratched, you have to build, you cannot stop the problem solving and challenges or you die of boredom or vices which you pick up because you stopped giving yourself challenging problems to solve.

Maybe some of this information is not relevant to you right now but you'll retain it and one day in the not too distant future, you'll remember and utilize it for yourself.

Cheers!
 

yungmillionaire

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99.99999999999% of all self made millionaires or billionaires did not make there wealth in there first successful venture. There will be 100 ventures you start that fail, then you will have something that finally clicks and makes money. This first success will make a you paper millionaire. After this first success you will learn an insane amount which will increase your probability of duplicating that success in a second or third larger and more fruitful venture that can turn you into a true multi millionaire or billionaire if you choose to continue on.

All real entrepreneurs understand the itch. The itch needs to be scratched, you have to build, you cannot stop the problem solving and challenges or you die of boredom or vices which you pick up because you stopped giving yourself challenging problems to solve.

Absolutely true.
 

Womat

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@458 I have read through your thread and have to admit - description of your journey is a pure value! Thank you for your knowledge. May the force be with you on your future path.
 

458

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@458 I have read through your thread and have to admit - description of your journey is a pure value! Thank you for your knowledge. May the force be with you on your future path.

You're welcome!
 

458

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I did it today and looking forward to wake up at this time every day.. It is great. I never had this much productive day and morning... I started today digital marketing agency and already done a lot of tasks. Thanks for the great tip @458

Time for an accountability check.

Did you follow through with this? How consistent have you been? Be truthful, if you stopped then detail why and how you are going to improve with being more consistent.
 

Counter2828

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Time for an accountability check.

Did you follow through with this? How consistent have you been? Be truthful, if you stopped then detail why and how you are going to improve with being more consistent.
I still wake up at 4am every day, great working motivation when I wake up that early. Although my productivity increased, I was action faking a lot(still improving website, thinking about how do I form my emails, constantly learning, watching yt videos). In short - 0 sales, no results.. I struggle with this, I can watch videos and have a short term high but thats just mental masturbation, nothing else. I know where I stand but I dont know how to get out of there. For example I have no problem with discipline, I go 5 times a week to the gym without problem.
 

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458

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I still wake up at 4am every day, great working motivation when I wake up that early. Although my productivity increased, I was action faking a lot(still improving website, thinking about how do I form my emails, constantly learning, watching yt videos). In short - 0 sales, no results.. I struggle with this, I can watch videos and have a short term high but thats just mental masturbation, nothing else. I know where I stand but I dont know how to get out of there. For example I have no problem with discipline, I go 5 times a week to the gym without problem.

Good work, keep doing it and keep taking some type of action each morning and you will then gain momentum. You are buiding your consistency muscle right now. If you start something, you need to force yourself to keep it going. This will also force you to choose wisely when you add things to your life in the future instead of just saying yes to anything that comes your way.
 

Counter2828

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Good work, keep doing it and keep taking some type of action each morning and you will then gain momentum. You are buiding your consistency muscle right now. If you start something, you need to force yourself to keep it going. This will also force you to choose wisely when you add things to your life in the future instead of just saying yes to anything that comes your way.
Thanks, I will keep doing it. And you are right with that, that you need to force yourself in the beginning. I remember when I started going to the gym I was forcing myself too, but then after some time it become a habit. And when you see results you become obsessed with it even more.
 

Ma.Gico

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Congrats for a great thread. I enjoyed a lot reading it.
I have a question..
In order to stay focused during your long work days, do you take any supplements or estimulants like coffee? Or maybe a quick nap to recover because ive read you wake up at 4 am and going to sleep round at 10 pm.
Im asking this because i to wake up at 4 am since 2 months allready, (after reading The miracle mornings book) and i feel amazing. I feel a lot of positive changes. Problem is that at 3 pm or so.. i need a nap and more coffee then usual during the day. And those short naps often get way to long ..
Thanks
Gicu
 

458

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Congrats for a great thread. I enjoyed a lot reading it.
I have a question..
In order to stay focused during your long work days, do you take any supplements or estimulants like coffee? Or maybe a quick nap to recover because ive read you wake up at 4 am and going to sleep round at 10 pm.
Im asking this because i to wake up at 4 am since 2 months allready, (after reading The miracle mornings book) and i feel amazing. I feel a lot of positive changes. Problem is that at 3 pm or so.. i need a nap and more coffee then usual during the day. And those short naps often get way to long ..
Thanks
Gicu

99 percent of my must get done things are finished by 9am and then the rest of the day is dealing with stuff that shows up. After 2pm I'm usually done and the rest of the day I'm planning and mapping the following day and 5 day outlook.
 

Rossoneri

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What an amazing thread. I've been lurking your original progress thread and this one. I'm honestly pretty overwhelmed. This may be a stupid/vague question, but what would be some advice for a mere high schooler like me? I'm the complete opposite in personality (seeing one of your posts earlier), I am timid/shy and have anxiety for doing the most simple things. I don't believe I'm anything special other than my open mindset to learn.

Thanks
 

458

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What an amazing thread. I've been lurking your original progress thread and this one. I'm honestly pretty overwhelmed. This may be a stupid/vague question, but what would be some advice for a mere high schooler like me? I'm the complete opposite in personality (seeing one of your posts earlier), I am timid/shy and have anxiety for doing the most simple things. I don't believe I'm anything special other than my open mindset to learn.

Thanks

What are you looking to accomplish?

Doing what I do only makes sense for me. Know yourself is rule number one. I wouldn't go off and try and compete with Elon Musk for example because I know I will fail.

No one can tell you what you can and can't do, all I can do is give you a quick tip on your ultimate goal or outcome. If you don't have one, figure it out.

If you can't figure it out, quit and work for McDonald's.
 

sonny_1080

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@458 awesome thread. Thank you for sharing your insights. Would you mind sharing your experience of concluding that you'd have a high probability of succeeding in your niche?

I know you did massive research - I'm more curious about the knowledge/experience you had in your niche that gave you the confidence to pursue it. Did you work in the field before you started your business? Or did you not have any work experience but knew people in the industry?
 

458

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@458 awesome thread. Thank you for sharing your insights. Would you mind sharing your experience of concluding that you'd have a high probability of succeeding in your niche?

I know you did massive research - I'm more curious about the knowledge/experience you had in your niche that gave you the confidence to pursue it. Did you work in the field before you started your business? Or did you not have any work experience but knew people in the industry?

I thought about your question for awhile and here is my answer:

1. Initial success is the only success
2. (1) hammer and (1) box of nails

Before my first successful business there were 20-30 "attempts" in various unrelated fields which resulted in $0 revenue earned.

To find your space, focus on swinging your hammer at a box of nails until you hit one nail clean, IE. make a dollar.

Now here is the secret and also the easiest part to mess up, and by mess up I mean in the beginning AND continually over time:

Once you hit any single nail clean IE. any random business you start and try which turns a dollar; throw away the hammer and throw away the box of nails.

I'll give you an example. Let's say you write a program in python and javascript which you sell off to another company for $50k, code is gone and you got $50k.

Naturally your next thought is going to be "I'm a professional developer, just wait Elon, you're going to be working for me soon after i build the next new xyz program to fly to wherever /insert your favorite random planet here". Neither of those statements are true, you are not a professional developer and I can assure you, you are not the next Elon.

Unnaturally but correctly, your next thought should be, "better get to work writing THE EXACT program again I just sold off, this time with added xyz features and functions and connectable via APIs so more people can use it". And even then, xyz features can get you into trouble if they include taking you into unrelated fields like if the original program was for the auto industry and suddenly you decide you're an expert in oil tankers and Nigerian mineral rights..

The point is this, initial success is the only success, find it and then nurture it. Nurture it until... until way past you think you should, its a constant battle, every day your mind wakes up to deceive you and convince you that you're a professional xyz and Elon is going to report to you. Always remember neither of those are true and the second you drink the cool-aid is the second you're going to be searching google for bankruptcy attorneys.

Hope that helps!
 

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