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365 Driven

Top-1% globally ranked podcast. Achieve excellence in wealth, health, relationships, and mindset I share my passions about cars, success, and leadership.

05/12/2024

Building a Successful Franchise - with Michael Hartel

26/11/2024

When I was 16, I visualized owning this exact car. An orange 1969 Camaro SS convertible. The perfect car wasn’t available, so I had to build my own. See the next slide for the before pic.

Go and build whatever you’re daydreaming about. 🧡

17/11/2024

Gen X kids: Which logo is your favorite?
Thrasher, Hot Wheels, GI Joe

16/11/2024

got KO’d by Mike Tyson and Jake Paul. The buffering fight was brutal!

11/11/2024

Rich Brand, Poor Brand - 365 Driven Podcast w/ David Brier

10/11/2024

Challenge yourself. Willingly do hard things. 💥

03/10/2024

My thoughts on business types.

This will be the first of many long-form posts I create, about several ideas and thoughts I have.

When people ask me for advice on which business type they should start, they usually expect a specific response. Maybe even a list of business ideas that are "hot" or worth considering.

The reality is that there isn't a perfect answer for everyone, because everyone has different interests, skills, needs, and goals in life.

Only you can determine which business model works for YOU.

Here's my own thought process on evaluating businesses for myself. It's based on decades of discoveries, mistakes, and wasted money and years of time.

I start with the end in mind.

1. What do I want my lifestyle to look like?

2. How much time freedom will I be able to realistically create from this business idea? Does it require set business hours and 40+ hour weeks?

3. How much location freedom will it allow; Will I be able to work anywhere in the world, or will I have to show up to an address each day?

4. Does this business idea have the potential to scale to arrive at my own financial goals? How much do I need to profit in order to live my desired lifestyle?

5. Does this business model carry enough profit margin to sustain economic cycles going up and down? Is it something that potentially thousands of customers need, and will always need?

6. Most importantly: Will I be happy and fulfilled doing what I do? Is this something I'm actually passionate about, and have a lot of energy to pursue? Is there purpose behind my performance?

Most business owners start something without truly asking themselves these questions. The majority of them I've spoken with, pursued something primarily to earn enough money to avoid having a W2 job for themselves.

Too many start businesses that will never be able to scale in order to reach their financial goals, or their time freedom goals. They are self-employed but run a company that has no value if they ever wanted to sell it.

Others start businesses within industries that have a razor thin profit margins, working insane hours weekly just to keep their head above water. They can't ever seem to get ahead. Business feels like a trap.

Some start businesses around their hobbies, only to discover the financial limits and time restrictions a couple years into the business. They didn't think far enough ahead...

There are endless ways to make money. There are only a few that do so, while also creating enterprise value and keeping your sanity, and potentially your time freedom.

If the business idea passes the sniff test on those initial questions, I'll then assess the idea with these further questions:

7. Is this business idea within a growing industry, or at least a long-term stable industry that won't easily be replaced by technology or shut down due to risky govt regulations or changes to laws?

8. Is there potential to operate with a prepaid, positive cash flow business model? Bonus if there is monthly or annual recurring revenue (MRR or ARR).

9. Does the potential exist to scale profit at a higher percentage than increasing overhead costs? Meaning, does it scale profit faster relative to adding employees? Few employees, higher output.

There are other questions to consider, but these are where I start when it comes to assessing ideas. If it doesn't make it past the first group of questions, I'm not interested. If it makes it past the second group, I'm increasingly interested.

Tony

04/09/2024

Mentorship has the potential to change your life.🤩

One of the most common mistakes I see in entrepreneurship is a strange unwillingness for people to invest in themselves by hiring a coach or mentor.

I get it. I used to be one of the who prided himself on saying:

"I'm independent"
"I'll figure it out myself"
"I'm self-made"
"I'm highly resourceful"

Looking back, sure I achieved some success... but it wasn't without losing time and money several times and learning some hard lessons.

Any amount of things you have accomplished so far, I guarantee you could have done things better and accelerated your results if you had learned from those who have done it.

As a college grad myself, I find it interesting how society is so supportive of people investing $40K-100K on a 4-year degree, presumably to learn some new skills...

But most graduate with no new skills. They exit only with some new knowledge. Sometimes just cultural indoctrination. This knowledge isn't skill, and it may or may not create income.

More than half of college grads end up working a job that doesn't require their actual degree, or any degree, at all.

But hey, you have that framed piece of paper on the wall. (mine has dust on the frame)

It just doesn't seem logical or realistic to me that so many people say they want more in life, but are so unwilling to invest in new skills, new thinking, new strategies... and avoid the costly mistakes in business.

I've invested six figures in coaches and mentors. In the last few months I invested $10K just to learn CRM automations for my business. I'm always investing in new skills.

It's not realistic to believe you'll earn 6-figures if you haven't even invested 5-figures in yourself. Or thinking you'll earn 7-figures without being willing to invest 6-figures.

Be very honest with yourself right now. Are you where you want to be in life? Is your business growing fast? Is your industry authority or influence growing? Is your mental and physical health the best it's ever been? Are your relationships strong? Are you living with purpose and fulfilment?

How long will you settle for less? Why do that?

Hopefully this message stirs your thoughts. That's what I intended. Now go turn those thoughts into actions.

30/08/2024

My 365 Driven podcast celebrates six years today! That's 376 episodes of talking with some amazing people. Thank you to all of my guests and listeners.🧡

29/08/2024

"Are you working hard, or hardly working?" 🤔

These days, I'm hardly working.

I was subscribed and bought into the hustle culture and associated work-hard 24/7 mantras in my 20s-30s.

I didn't know any better. I was ignorant about life and purpose.

Back then, I built my identity around out-working you. I was programmed to be proud of how many "OT Hours" I crushed. There was even a time I was working three jobs, because I always wanted more income.

I sacrificed sleep, thinking it was a waste of time. For over a decade, I missed a lot of holidays and special occasions because of work. "Gotta pay the bills!" right?

My relationships struggled. Eventually my health struggled. Fortunately, I became self-aware at age 39 and this spared my mental health. I knew I had to start making some changes.

I was observing those who were further ahead of me on the career ladder, understanding it was also my forecasted trajectory.

Sure, they earned a higher salary, but they were typically unhappy with their careers. They achieved a level of income that kept them trapped and fearful of pursuing the purpose they were intended for.

Most of them took pride in working 12+ hour days. Rarely taking vacations. Robbing that time from their families. Maybe they were just using work to avoid being in an unhappy, dysfunctional home?

By age 40, I started to put purpose, peacefulness and happiness above all else. It took a few years to make those changes. Many around me didn't understand what I was doing, or why I was doing it.

Believe me when I tell you this, but you have a far greater potential than to sit at an office or jobsite 8+ hours per day. There are ways you can earn more money, but more importantly; More free time.

Most won't take the risk. A few will try, but won't last long. It's not easy. This is what I help people achieve.

20/08/2024

This is one of the biggest mistakes new entrepreneurs make.😮

If you're building a business, profit is what matters most. Don't fall for the guru speaking about "7-figures" in sales revenue. I've known plenty of business owners that lose money each year.

7-figures, 8-figures, etc... don't mean anything if a business is barely staying in business, or bleeding cash each month.

So how do you maximize your potential to achieve more profit?

Sell expensive things.

As a business owner or hopeful entrepreneur, you've already accepted the fact that you'll have to sell something. That's business.

I see waaay too many of you wasting way too much time promoting and selling tiddlywink little knick-knack products and services that only earn a few bucks per sale.

You won't achieve financial success by focusing on selling low-buck things, unless you've mastered the tactics of generating high volume sales. That means you'll need to spend tens of thousands (maybe hundreds of thousands) per MONTH in advertising in order to generate the typical 10-15% net profit.

The only other alternative here is to have built a huge personal brand with a huge audience of willing buyers. That's great if you've achieved this, but it's not the norm. It's probably not you.

Selling is selling. It's literally the same skillset if you're good at it. It's definitely a skill you SHOULD invest in, and become great at.

It takes the same amount of effort to sell an expensive item or service, as it does to convince some cheap bastard to buy your cheap product or service.

Here's an example I figured out 20 years ago, with one of my own businesses; selling custom wheels for cars.

Back in 2003, I thought it was a good idea to carry a range of wheels, from entry level (then about $999/set) and top-level forged wheels (then about $3000/set). More products the better, right?

Wrong.

Within a year I learned I was wasting much more time on the phone and in emails with the cheap buyers. They were obviously price-shopping, and didn't care as much about service or my knowledge. They'd get info from me, and go buy elsewhere based on price.

Those $999 wheels only created about $150 in profit per sale (15%).

The expensive wheels created $750 in profit per sale (25%).

I would have to sell five sets of the cheap wheels in order to equal the profit of only one set of expensive wheels. Same amount of sales effort for both, actually more effort with the cheap buyers.

I stopped selling the cheap wheels. My business grew faster. I focused on serving only the highest quality brands and my marketing focused on service and expertise. Things high value customers respect.

If you want the potential to earn more profit, look at selling the most expensive things you can. Become an expert in those subjects. Quit competing in the bottom market, with all the others who are too lazy to specialize in a higher product level market.

To those of you with already established businesses, you are likely earning 80% of your profit from only 20% of your best products or services... while wasting time on the other 80% of your products that barely move the needle. Don't be afraid of dropping products off, especially low-performing (non profitable) ones.

12/08/2024

"The Billionaire Matchmaker" Gina Hendrix - 365 Driven Podcast

12/08/2024

Quit hiring these people as your coach, reading their books, and attending their events.
Unless you want to become a 🤡

06/08/2024

I’m enjoying seeing a lot of new faces here lately, so I’ll take a moment to introduce myself.

What do I do for a living?

I help business owners get what they want. Sometimes that is more money. Sometimes it is more authority and recognition. Sometimes it’s more time freedom. Usually it’s a combination.

I help convert your dreams into manageable projects, define the steps, and then hold you accountable. Our objective is to accelerate whichever results that will create the most happiness and enjoyment in your life.

I didn’t come from money, so I learned how to become highly creative and resourceful. I understand the value of stacking skills.

I put myself through engineering school while working full time in construction, and waiting tables on weekends.

I’ve started several companies, but only 30% of them became successful. Those failures probably taught me the most. The successful ones earned millions, and exited for millions.

I’m host of a Top-1% ranked podcast, 365 Driven. I’m author of the book “Side Hustle Millionaire” which has sold 10K copies.

I’ve been with my wife for over 20 years, and I’m a dad to great son.

As for hobbies, I’m a car fanatic that builds and races cars. I enjoy traveling the world. I love lifting heavy at the gym. I get my adrenaline fix by skateboarding bowls and halfpipes.

Good to meet you! 👊

06/08/2024

I'm enjoying seeing a lot of new faces lately, so I'll take a moment to introduce myself.

What do I do for a living?

I help business owners get what they want. Sometimes that is more money. Sometimes it is more authority and recognition. Sometimes it's more time freedom. Usually it's a combination.

I help convert your dreams into manageable projects, define the steps, and then hold you accountable. Our objective is to accelerate whichever results that will create the most happiness and enjoyment in your life.

I didn't come from money, so I learned how to become highly creative and resourceful. I understand the value of stacking skills.

I put myself through engineering school while working full time in construction, and waiting tables on weekends.

I've started several companies, but only 30% of them became successful. Those failures probably taught me the most. The successful ones earned millions, and exited for millions.

I'm host of a Top-1% ranked podcast, 365 Driven. I'm author of the book "Side Hustle Millionaire" which has sold 10K copies.

I've been with my wife for over 20 years, and I'm a dad to great son.

As for hobbies, I'm a car fanatic that builds and races cars. I enjoy traveling the world. I love lifting heavy at the gym. I get my adrenaline fix by skateboarding bowls and halfpipes.

Good to meet you!

29/07/2024

Everyone has bold thoughts and opinions, but most fear sharing them with others.

There are reasons to fear personal expression; Risk of losing your job or opportunities, dissolving relationships, backlash or retaliation among other things.

I understand this. I lived my first 35 or so years in fear of putting my thoughts out there. I started taking small steps towards courage. I kept escalating from there, year by year.

So what changed? Here's what I've discovered and became aware of along the way.

I realized that while we are attracted to the overall message of unity, peace, and pacifism, it is only because it describes an impossible human utopia and is simply idealistic in beliefs. It's impossible to achieve by the historical evidence of human nature.

That's when I began studying historic leaders, and others who took action to change the world.

None of these people played "middle of the road" with their message. None of these people were trying to be mass people-pleasers. None of these people aspired to be average and blend in. None of these people suggested others remain silent.

These people chose to share their bold thoughts with the world, and most faced extreme adversity in doing so. Most were reluctant, but still found the courage to do so.

I see so many people that aspire to be thought leaders, but their predictably passive and people-pleasing message is what keeps them from growing an audience and leading anyone.

I also became more aware of time. The truth is that we don't have as much of it as people seem to believe. Striving for idealist and impossible goals is a waste of time.

You don't exist to make everyone happy. Even the most recognizable martyrs and historic figures couldn't achieve that. You will push people away with your bold thoughts, but you'll also attract far more by being bold. Note, there is a difference between being antagonistic and being bold.

So what's the path for you? I suggest you identify the sources of fear that keep you silent, and begin to eliminate those risks. Build your financial independence. Become a more effective communicator. It's often not what you say, but how you say it. These are skills to master.

It's time for you to become more bold. You won't truly experience personal freedom until you can become your true self.

16/07/2024

Hurricanes & Humanity - Episode 371

13/07/2024

The opposition is getting more desperate to retain power. They tried to take his reputation. They tried to take his money. They tried to take his freedom. Now they tried to take his life.
I’m disgusted by what occurred today.

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Videos

Building a Successful Franchise - with Michael Hartel

Rich Brand, Poor Brand - 365 Driven Podcast

Rich Brand, Poor Brand - 365 Driven Podcast w/ David Brier

"The Billionaire Matchmaker" Gina Hendrix - 365 Driven Podcast

Hurricanes & Humanity - Episode 371

Ian Smith - Ep 370

Ian Smith - Ep 370 365 Driven Podcast

Storytelling to Create Results - Episode 367

Storytelling to Create Results - Episode 367 of the 365 Driven podcast

Rolls Royce for a day 🤡…Warning: This level of power and status can become addictive. You’ll need to develop a strong mindset…. #365driven #nogooroos #rolls #rollsroyce #mindset #entrepreneur #entrepreneurship #jeep #jeepwrangler #rubicon392 #cars #comedyreels #comedy #memes #flex

Understand the context behind these generalizations on social media. Also, the man speaking works for Dave Ramsey. His data on “Average Millionaires” are Boomers who saved their way to $1M net worth in their 60s. The truth is that millionaires spend on what they value and enjoy. It not always cars, it can be anything. #365driven #millionairemindset #daveramsey #mindset #wealthmindset #cars #carsofinstagram #lamborghini