Category Archives for "Entrepreneurship"
Date: October 24, 2015
Time: 7:31 am
Location: Ponce Inlet, Florida
Well, I’m sitting here listening to the waves crash in the ocean and reflecting on the last few months.
I’ve been working on building up my new brand Sovereign Survival for about 3 months straight since I attended the Yacht Mastermind.
In this post, I’m going to just document some of the stuff that has happened and provide some insight into what it’s like building up a business that you’re going to sell in the future.
My intention with this company is to sell it for $5 million, which means I need to have systems in place to run the business without me being a part of it.
The first thing I had to do was hire a project manager.
Well, it’s really simple actually.
I can’t do everything on my own, even though I sometimes feel like I can and should. It’s just not possible to function at an extremely high productivity level forever.
Bringing in a project manager was essential for me because my mind wanders all over the place. Especially when it comes to new businesses and ideas.
Yes, the shiny object syndrome is alive and real in me.
I hired an excellent woman to partner up with and build this company. I’m talking extremely driven, talented and can organize my ideas so that we can get them done.
For me, I struggle with finishing things. I’m very much an idea person and I feel like once I’ve written out everything for my idea and put in the initial work, I feel it should be done.
That means, I need good people working with me who can see my vision and then follow through with it. I’m just not that good at doing things over and over again, and if I try, I get really bored and don’t do anything.
My project manager has helped so much with that. She’ll email me with an updated and finished project from something I forgot I told her about, and it will be done exactly how I was hoping it would be, or better.
It’s really great. She is hiring the right people and making sure that the quality of their work is great, thus making sure the business is going to be great.
Some of the biggest problems I’ve run into with starting the new business is cash flow. With new businesses, it’s important to get into the black as soon as possible. Hiring a project manager takes away a lot of what would be initial profits in the beginning stages.
But, long-term, the project manager will make back many times that money.
Yes, I’ve had some bad days, weeks and even months where I’m thinking “oh shit, was this really a good idea or is shooting for the moon just stupid?”
Yeah…that’s happened quite a bit.
and it’s frustrating.
If you are in the start-up phases of a business you can probably relate.
You see, I have other businesses that are cash flow positive and I’ve been reinvesting money from the other businesses into this new one. My goal is to leverage my assets and turn them into larger assets.
Some issues arise when this happens though because instead of focusing my attention on existing businesses that have been cash flow positive for me for years, I’ve been putting my effort into a new business that is still building traction.
This can be tough.
It can be difficult to do, especially when I see the end goal in mind so strongly for the new business. I just know that it is going to be a big hit and I’ll sell it for what I plan on selling it for.
I’m slowly letting things go with the new business though, and having my team handle the stuff. One thing we’re doing now is doing a free + shipping offer that I was doing out of my own condo to test it out and make sure it would work right. As of last week, I have passed that on and have someone else handling the shipping and packaging of things.
This will allow me to work on creating more funnels like this one in order to get more buyers into our sales funnel.
We also hired someone to handle our Facebook ads, create eBooks, write articles for the blog http://TipsForSurvivalists.com (that’s our blog for the brand) and we had someone handle all of the building of the sites.
Now I’m going to start focusing more time on CPA marketing (that’s been my bread and butter the last 3 years) and spend less time working on the new business so that my team can help grow it without my direct involvement.
My intention with it is to turn the eCommerce store into a fully-automated business by the end of this year, with people running all the promotions, advertising campaigns and fulfillment for me.
We still need to figure out a membership option for our customers there, we’re working on ideas now and trying to figure out what would be most valuable for our customers.
I’m sure we’ll come up with something great soon.
Anyways, I just wanted to have a quick update and record what’s been going on with me.
Well, it’s been a long time since I’ve written anything about business… I’ve been pretty hush-hush about what I do and just sharing travel stories on my blog here.
I’m going to share with you a little insight into what I learned here while on the DNA Yacht Mastermind in Mallorca, Spain.
I had the opportunity to join a few of my mentors on this mastermind and felt that I needed to invest a relatively large chunk of money ($25,000) to get onto this yacht to learn.
But, I 100% believe that investing in yourself is the best investment you can make.
…and boy was I right.
So, I’ve basically built up some pretty awesome things in my business. I have built up a few assets that make me a good amount of money each and every month, however there was a sort of mindset issue I had with getting past a certain income goal.
Something was preventing me from breaking through and I knew that being around the DNA Yacht Mastermind crew would help me overcome that.
(I’ve found that once you get accustomed to a certain level of success, you need outside influences to help you get to larger levels of success)
Sure, I could have coasted still and made pretty good money.
However, I’m not about that. I have big goals and I intend to accomplish every one of them.
Something that I personally think is pretty funny is that I’m building up a certain business. I had in my mind before coming here that I wanted to sell it for $250,000-$500,000 within about 1-2 years.
I’ve been building it up and preparing it so that it could be sold….and I thought I had a great plan.
But then I met and listened to Com Mirza, who’s worth over 1/2 a Billion dollars….and him and another mentor of mine, Peter Parks had other plans for me.
They called me out.
They said I was thinking too small.
and then Andrew Fox reminded me that… “you don’t want to work for a big pay check, you want to work for a big pay off.”
This is the stuff that you don’t get when you surround yourself with small players.
Alright, now on to what was truly the most valuable thing for me…
I’ve done an okay job with one aspect of my business. I have 2 virtual assistants who are content creators and do things that allow me to focus on higher level stuff for me. This frees up my brain to think of new ways to grow the business and start to do each of these things.
The problem was, I would get stuck.
I’d try to do the tech stuff….which I’m horrible at.
….and it wouldn’t get done.
I’m good at marketing and creative thinking and planning out the long term vision, however I suck at the short term day-to-day stuff. They taught me I needed to build up a better team.
To find people who are great where I’m not. To only hire A players. Sure, it will cost more. But A players are A players for a reason.
It’s like having a professional basketball team and thinking you could win the NBA Championship with a team of decent high school kids….it’s just not going to happen.
You need to find and hire the best of the best….and pay them well.
So now, i’m in the process of building up my team. Building the beginning steps of my legacy.
…and I’m ecstatic!
Over the last 2 days i’ve been mapping out everything that I do to grow each business….and I mean everything.
and recording videos so that I can show my A teammates exactly how to do what they’ll be doing, and I know that by showing them this stuff they’ll be able to come up with their own great ideas that will help the business grow even more.
It’s seriously amazing what can be accomplished when you start to actually plan out each and every detail.
If there’s a hole, you fix it.
For example, say I need a new website put up.
I used to just do it all myself, and it would take me quite a bit of time.
Now, I can have someone who is great at that set everything up, handle the look and layout of everything and make sure it looks great for visitors.
That allows me to think of the content that needs to be shared and the products that will be beneficial to our audience and customers.
….and then hire people who can create those products and content.
Before coming on the DNA Yacht Mastermind, I knew that I needed to do something along these lines…but honestly, I had no idea how to go about doing it.
They taught me how to structure the businesses I’m building, steps to take to find the right people and exactly what to do in order to position the one business for sale.
Plus, all of the stuff I’ve been doing with CPA Marketing…I have a plan to take me beyond my wildest dreams with this.
and the best part is that I know how to setup my team so that I can do what I’m best at!
All I can do is say thank you to Peter Parks and Andrew Fox for putting together the DNA Yacht Mastermind.
If you ever have the opportunity to go, find the money and do it.
If you’re looking for how to build up a business similar to what I do, you should get their DNA Wealth Blueprint course.
It’s not always available for sale, in fact, at the current time I know it’s not available.
But, if you happen to click here and it’s available for purchase. Buy it.
Here’s a shot from me on the yacht thinking…
Some other pictures from the DNA Yacht Mastermind…
I’d like to start this blog post off in extreme gratitude for what my life has become. Honestly it’s amazing looking back over the past few years and seeing just how much my life has changed and all I can do is be thankful for everything I have.
Here is a shot from current condo’s upstairs balcony in Costa Rica (I’ll be leaving here next month to go check out the Dominican Republic since my girlfriend and I have never been there)
I am extremely blessed and am living the life that I dreamed about while going to college and when I started building my Internet Marketing business. I spent years upon years re-investing any money I made into my personal education and into growing my business.
I paid coaches, went to seminars, bought products and spent a LOT of money on testing things.
No, it wasn’t easy. But it has been a hell of a ride…
I’m going to show you this picture. The image on the left was a “dream board” type image that my friend Marshall Wayne did for me a few years ago to help me re-calibrate my mind to a wealth mindset. The picture on the right is an Armani suit I bought in 2014 without thinking twice about it. I knew I wanted an Armani suit and once I put it on, it was mine. (I did have to wait for it to be tailored though)
So what is the point of this and why am I showing you these?
The simple answer is ….
These are things that I wrote down as what I intended to have in my life. I didn’t simply “hope” or think that the “law of attraction” would just give these things to me.
No, it wasn’t instant success.
No, every thing I touched didn’t “turn to gold”…
in fact, most of it failed miserably.
But, some of it succeeded.
What made the difference in that?
It’s something that I tell people all the time when they ask me questions and if I offer any type of personal coaching or mentoring.
I ask…. “have you written down your goals yet?”
If any of my friends who I’ve helped with their business are reading this, I’m sure they will say “yep, that’s what he says”…. and the next thing they’ll most likely agree with is me asking my follow up question… “have you tested it? and then tested it again…and again….and again?”
It’s funny, but with marketing it’s all in testing what you’re doing. You test something and it either works or it doesn’t. Then, if it did work, you use that result as your main numbers to beat and you test against it.
It’s constantly testing A vs B, then if A wins, you test A vs C..
You guessed it… if C wins? You test C vs D…
and on and on. This is how you find positive ROI’s and the beauty of it is that once you find something that is giving you a ROI like 200%…you can test something and maybe, just maybe, you can beat the 200%…
and then you test again.
Okay thats a little off the topic of “Have you written your goals down yet?” but you get the idea… testing is very important.
Let’s get back to goals.
One of the best definitions of goals that I’ve heard is…
“A goal is a dream with a deadline.” – Napoleon Hill
While i’m not 100% sure it was only Napoleon Hill who said that, that is who some resources i’ve read credited.
and damn is he correct.
Dreams become realities when you actually break down how you can accomplish them.
I hear people all the time say things like “I wish I could quit my job and travel like you do” or “I would love to build a business that funds my dream life”
and then you hear that word…
the B word…
not bit$H, but….
and that’s when the excuse comes out. …. but I don’t have the time. ….. but I don’t have the extra money…
That’s an excuse.
You do have the time, we all have 24 hours in a day… even Warren Buffett and Sir Richard Branson.
The difference is that they found a way to use that 24 hours in a way that helped them build their business and accomplish their goals.
Sure, they were probably tired a lot when they were getting started… I know I was.
But the thing that they did first was write down their goals.
Some of them probably terrified the writer when they originally wrote it.. but now that it’s become a reality they are glad they wrote them down.
Sure, writing down something like “make enough money to quit my job” might sound stupid to you right now, but if its your dream to quit your job and build a business, it’s something worth writing down and working your ass off to achieve.
Now what exactly should you be writing down?
That is an even better question….and the better questions you ask, the more likely you are to get answers.
When writing down your goals, you’ll want to write down exactly what it is you want and exactly when you want it to happen.
Let’s say you have a job that makes you $50,000 a year.
That’s $4,167 a month or $137 a day of income.
Alright, so we have a starting point of what number we’re going to write down as a part of our goal.
So you can start off by writing something like “My intention is to create a business that makes me $4,200 a month….”
great start! You’re getting clear on the outcome..
now when do you want to have this?
Be reasonable, don’t just expect it to happen overnight. That’s not how it works, initially.
I’d recommend with either a 3 month or 6 month deadline to your goal. Some people might think thats a little too short of time for something like that to happen. I believe differently though.
If you’re familiar with procrastination (I am VERY familiar with it) then you understand that when your back is up against the wall, you make it work.
Have a month to do a paper? Ever done it in a night? I know I have.
You will find a way to accomplish your goal when you have a must hit deadline, it’s just part of being the badass human that you are.
That’s why I like the 3 to 6 months goals instead of 1-5 years. I have a hell of a time thinking that far in the future, I could be a completely different person by then and my goals might change 100% or 100X bigger, who knows.
Okay so let’s get specific on this goal…
“My intention is to create a business that makes me $4,200 a month by DATE (90-180 days away from when you write this)”
The next thing…
Don’t just think this, grab a piece of paper and a pen.
Do it right now, i’ll wait.
okay, now that you have these things get to writing down your goal.
It might not be financial, doesn’t matter.
Write the damn thing down.
You’ve taken the first step towards achieving that goal.
The next thing that is going to happen is that you’re going to have to get to work on finding the right resources and actually get to work.
I know, I know… you wish it just happened when you wrote it down.
(I do too)
But that’s not how it works.
Now is when the Universe separates the talkers from the people who are willing to actually DO THE WORK and achieve the goal.
It’s not going to be easy, but it is actually easier now that you’ve written your goals out.
Want to know why?
Now you know exactly what you need to do and know the deadline. No second guessing of “oh I need to make a few thousand a month” or “I donno, I think it’s like $5k a month to supplement my job income”
Now get to work.
A few months back I did an interview with Eric and Jarod of http://www.backofficelab.com/ about lifestyle and Entrepreneurship and finally got around to uploading it to my blog here and to be able to share it with ya.
Click here to listen (You’ll be redirected to the Apple iTunes link)
The first one should be my interview, you’ll see “Who Is Chris Hughes” there and can just click it to listen.
Over the last few months I’ve been actively building up my business, along with building up quite a few other things to be able to sell in a few years.What that meant is that I’ve ignored my personal blog here because it doesn’t directly put cash into my pocket.
I do however feel that it would be valuable for me to start blogging again, at least a little more than I have been. I’ve been learning a lot in business, marketing and advertising along with mindset training and of course I have been surfing everyday.
As of today, February 9th, I live on the beach in Costa Rica again. From where I’m sitting, I can see the ocean and hear the waves crashing. This is a shot from my living room looking out. You can’t see the ocean from the picture, but it’s right on the other side of that little wall.
I’d love to have you listen to the interview and learn a little bit more about myself, how I’ve built up my ideal business and how you can do the same.
In the interview you’ll also learn where I was at when I was at my lowest and had absolutely no idea what I was going to do with my life. Click here to listen.
Be sure to subscribe to them and leave them a positive review if you’ve gotten value from their podcast.
Here’s the information for BackOfficeLabs
Have you celebrated any of your successes lately?
In business it can be extremely difficult to celebrate our successes.
I know from personal experiences that it felt weird celebrating things like my first lead, my first sale or even my first $3,000 day. I wonder if it goes back to my childhood and me struggling to truly celebrate things. I’ve always immediately thought “what’s next?” after accomplishing anything.
When I first learned how to juggle 4 balls, my immediate thought was that I needed to learn how to juggle 5. No hesitation, just straight moving on quickly.
I’m not sure if you know what I’m talking about with that, but it can be difficult for me to celebrate my successes. Lately I’ve been working on this more and more and have found that I feel better after relaxing, stepping back away from work and actually having a mini-celebration for a success.
For instance, I hit 1 million fans on a fan page I have the other day before recording that video. So instead of immediately thinking “I want 2 million!” (which I actually did think), I decided to go enjoy the beautiful sunset and not worry about 2 million… yet 😉
I believe its human nature to not truly stop and appreciate our successes and I’m happy to share with you that my celebrating that success had led to some great ideas during and after the celebration.
So wherever you are in your life or business, take the time to celebrate your little victories.
Maybe you’ve generated 5 leads today, or made your first sale.
HIGH FIVE! That shits awesome!
It sure is a great feeling, you should do a little dance and pat yourself on the back. That’s something that a majority of people will never experience and you’ve done it!
Try this out the next time you experience a small or large success and let me know what ya think in the comments below!