Appreciate you all following my journey this year. In this edition we’re at the beginning of 2023 - a great time to outline my 2022 as an entrepreneur. Let’s dive in.
2022 Goal: $1,000,000 in revenue 2022 Actual: ~$700,000 in revenue
The screenshot below is from ClickFunnels. It doesn’t include a small amount of revenue before we integrated CF early in 2022 and it also doesn’t include event revenue. I’m at ‘best guess’ with $700,000 for the year until I get final numbers.
We fell short of the $1m for a few reasons.
1. I spent Q1 working on an actual LLC agreement for this entity which was a distraction 2. Our messaging and offering really got dialed in, I feel, in Q4 3. Operationally, I added support too late in the year
Our webinar strategy is evolving but got traction in November. Prior to that, we ran multiple webinars paying $2000 in ads for each and got a 3-5% show up rate (i.e. 100 registered and 3 showed up) and zero sales. That happened a dozen times if not more.
In November, I got great advice from my lead operator. “You’re talking to high income earning people about quitting who fear having to do DoorDash to get by and deliver food to a former co-worker … and telling them that they can always DoorDash to make income! You quit and thrived, not survived and that’s what you should teach. People fear loss of income and lifestyle - they need to know they won’t lose those” 🤯
I changed the messaging in November and added some value-add emails to be sent to each registrant to prompt them to show up. We increased to 10% show up rate and up to 30% of those in attendance purchased!!! December had similar results through 2 webinars.
Our revenue was being collected by Gobundance until Q4. We’d receive a transfer each quarter with our revenue. I learned that 25% was being held back without my consent by leadership that is no longer in place. Moment of vulnerability here - I didn’t realize 25% of our revenue was not coming to us!! Many of you will shake your head and it’s hard to admit that I’m a ‘head in the sky’ business owner who had to learn a hard lesson about my tendency toward extreme trust.
We’ve been refunded this amount and all revenue now comes directly to our account. I continue to highlight these lessons and gaffs to remove any sense that I was able to do this because of how organized and effective I am as a business owner. Not at all!
Transitioning to entrepreneurship will come with lessons. Some of you may say ‘dude how do you miss something like that?’ while others will say ‘I could totally see me doing that - I hate the details and that’s what scares me about being on my own’. If not this, it’ll be something else for you.
Quantum Capital - we closed on 10 assets in 2022 (including one on December 30). In addition, I made six figures in acquisition fees throughout the year. We have an awesome team and I am filling in the shadow for the team. I’m the ‘social media’ guy, marketing for the team. Others are excellent operators.
Gobundance - I onboarded 175 new members in 2023 which generated nearly $200,000 in income for me. Many came through my Emerge program which fills my heart! COMING IN 2023
I have a commitment to ‘get light’ in 2023. That means spending time ‘live’ in any way I can. Speaking on stages, conducting interviews or being interviewed, serving my Emerge Supercharged audience and so on. What I need to put down:
- My inbox is going to my assistant - Personal finances are going to my wife - Operations are being fully handed over to my team - Scheduling engagements and negotiating my fee will be my wife as well
I’m excited to get more narrowly focused in my ‘genius’ and putting down those things that take energy and leveraging others ‘genius’.
#1: You Can Thrive Through Your Worst Fears
I spent a good chunk of 2022 paying thousands for webinars that simply didn’t convert. No one bought, no matter the price I listed. No one converted. No revenue was coming in. What I did have though, was a list of people I could nurture which is the birth of this newsletter. People didn’t buy right away on the webinar, but many did when I offered through email because folks had a chance to build trust with me. “What if I quit my job and don’t make money” is the top fear holding us in unfilling careers. I didn’t make any money. I was able to figure out other ways to generate income not only through Emerge Supercharged, but also with other streams I had developed thanks to being part of a community of people that represent the entrepreneur identity I have - not the W2 identity I had.
#2: Counter Your Shadow
I shared above how I wasn’t on top of our revenue. At my core, I’m an idea guy - a visionary. Operations have never been my strong suit, even though I spent 21 years in operations in corporate! I know where I add tremendous value and where I don’t. That part where I don’t is the shadow to my light. As early as possible, you need someone to fill in your shadow in your business. Whether it’s systems, operations, sales - counter your shadow with human resources or systems if you can.
#3: Trust Is a Superpower
While my trusting way may have made me unaware of a revenue gap, it also got me out of my job. If you’ve followed this newsletter, you know that I quit more with a back of the napkin assessment than some grand pros and cons list and a massive spreadsheet. The hack for me to not be taken advantage of is to surround myself with people I can trust and design some check-ins for me to ensure all is going right. But I wouldn’t change a thing. Whatever someone says you have ‘too much of’ is a hint to your genius. Leverage it, don’t hate on it.
CALL TO ACTION: Screenshot the key takeaway that landed for you and tag me in a story on Instagram so I can see what’s working for you.
A Podcast/Book I Love
✯ Evan Carmichael wrote a book called Built to Serve which I didn’t realize was all about finding purpose. It’s excellent and tactical. Highly recommend!
Lesson from Living Abroad
✯ I run from the cops now!!! The police don’t follow and pull you over. Instead they step into the middle of the highway and wave you over. Switching lanes and rolling on by actually avoids everything surprisingly enough. Who knew? To be clear, I was with relatives going below the speed limit and there is fear of corruption (which I’ve seen first hand) with the local police. So their advice was to keep going and I took it!
Happy New Year! The objective of this newsletter is to help other people with unfulfilling jobs become entrepreneurs in mid-life. It’s a path I chose 2 years ago. My commitment I made was to be completely transparent, sharing insights, wins, losses and lessons learned. I hope you see that it’s completely imperfect and somewhat chaotic making this move. But it’s also the most fun I’ve had in my career … ever!
If you want to work with me and become a mid-life entrepreneur, here’s three ways you can do that!
1. Follow me on YouTube. We’re about to blow up that channel and have already put together great content to help you get unstuck. It’s totally free and will be tremendously valuable for you to learn the lessons of becoming a mid-life entrepreneur and avoid the same mistakes I made and continue to make!!
2. Join Emerge Supercharged. This is where I can help you get clarity, build confidence and leverage the community to get yourself out of your day job. It’s the exact cadence I followed and the exact process I learned to quit my $400,000/year job inside of 2 years! I had to fumble around to learn these processes and it still took me less than 24 months - so the possibilities for you are insane! We’ve had dozens quit their day job in the last 2 years and many more are on deck for 2023!! You can get into our 8 week Accelerator with full access to the community for that time for just $1500. Try us out and let us support you on your journey to lifestyle freedom!
3. Come to The Dominican Republic. Our January 2023 Mid-Life Entrepreneur Mastermind in Punta Cana is SOLD OUT! I am taking applications for a second event I plan to host in the late winter/early spring so fill out the form and get on the waitlist for the upcoming announcement! This is a fully immersive, in depth, luxury experience designed to push you beyond your limits and get you unstuck. If you’re feeling that sense of urgency to live your life purposefully before more time slips away, this is the best experience I offer and it will CHANGE YOUR LIFE!