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Marina is a doctor of Chinese medicine and acupuncture. She opened her office in Encinitas four months ago. She's grateful for the transformation it's given her. She's making enough to cover her costs, and her clients are referring even more clients.
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You are worth it: holding yourself back is doing a disservice to your audience.
8 Minute Mastermind
Ben is a health and nutrition coach for entrepreneurs and thought-leaders. He's grateful for his health. He's celebrating setting up a live talk at Eve.
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But first, you’ve got to get angry: working through tough emotions
8 Minute Mastermind
Stacy has two businesses; an online gardening business and adventures for entrepreneurs. She's grateful for the certainty and support she gets from the group.
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Fighting fear and stepping into your calling
8 Minute Mastermind
Charity is a middle and high school teacher. She thinks it's time to pursue entrepreneurship. She's celebrating a family reunion for the first time in six years.
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You need to clean up your rats’ nest
8 Minute Mastermind
Kit Volcano runs The Little Volcano with his wife, Rosy. They train coaches. Their business has been compared to running a mystery school and a sacred funhouse of mirrors. He's celebrating completing his first talk. He opened for Kyle Seaspin. And he nailed it.
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Scaling 101: Don’t skip too many steps all at once
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Rosy Volcano is a transformational coach and a new mom. She and her partner Kit incorporate yoga, shamanic training, and body work into a coaching training course. She is celebrating her baby boy, and another big launch coming up.
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Networking with networkers: leverage your affiliates
8 Minute Mastermind
Stacy has two businesses: a digital online gardening business which helps people around the world grow herbs and vegetables; and life changing adventures for entrepreneurs. She's grateful for her beta on Circus of Entrepreneurs and the help from this group. It was an extraordinary experience.
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Finding your name and asking for help
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Sharleen is an intuitive strategist. She just had one of the most synchronous weekends of her entire life, with her good friend Courtney.
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A no is not a failure
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Paul is sale marketing specialist. He builds chat bots. He's starting a business in Southern California that offers discounted travel, tourist tickets, and activities, and incentivizes people who do good in the world, whether it be recycling, mindfulness, or other do-good challenges. He's celebrating a move, and streamlining his budget. He's 14 days sober from caffeine.
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Investing for beginners
8 Minute Mastermind
Stacy has two businesses. She helps people grow vegetables and herbs and she provides adventures for entrepreneurs. Her first event is Friday. She's grateful that the details are coming together beautifully.
info_outlineStacy has two businesses. She helps people grow vegetables and herbs and she provides adventures for entrepreneurs. Her first event is Friday. She's grateful that the details are coming together beautifully.
01:46 Challenge: I'm thinking about long term wealth. I want to invest in something, real estate, shipping container, etc. Any advice?
02:22 Question: When you say shipping container, what do you mean?
02:24 Or storage unit. I've heard that people can buy storage facilities. Or shipping containers.
02:40 Question: So you're looking for a long-term investment with cash flow that you could either grow or maintain and then maybe sell for profit? What's your capital entry point?
03:00 I'm thinking ahead. Is it possible at around $10K?
03:05 Totall. Buy a gumball machine. Or arcade machine. Or an ATM that dispenses bitcoins. It depends on your risk-tolerance, how much capital you have. Do you want to diversify, or just do one thing? How do you envision this going? Let's talk it out.
03:47 Typically I like diversity, but in this case I might want to nail one thing, and make it easy. I'm all about making my life easier lately. I want it to have a good management already.
04:09 Question: So buying into a model? Who do you know who's been successful at this?
04:17 That's why I'm asking.
04:22 Do you know Pat Flynn? He's a great resource. He's thought about it from every angle and has a ton of students. He has a podcast and following. That being said, there are so many things you could do. Laundromats, car washes, real estate. It's a question of scale. Shy away from food. It's highly competitive, margins are thin. Figure out what you don't want to do, that will help narrow it down.
05:14 Suggestion: I have an investor who buys properties out of state, in good school districts, buy-ins are lower than in California, maybe $18-20K, paid off within 8-10 years, then you cashflow. But then you own real estate.
05:52 Question: Have you owned real estate before?
05:51 Yes.
06:03 Suggestion: Do you know anybody who's doing something that excites you?
06:06 No, nobody.
06:08 Question: Have you read Money Master The Game? Start with Unshakable. My only thought with try one thing and nail it is then you put all your eggs in one basket. Leverage the Redalio Principle, 8-10 unrelated things. You want low-risk when you're just starting out.
07:22 Suggestion: My own investing strategy has changed a lot. From nothing, to stocks, to trading options, to running a hedge fund, now I'm super risk-averse and I only buy with the intent to hold things forever. Ultimately I realized I don't have the patience to figure out too many things. It's not just the money; it's the time, energy, and attention. There are no real handoff asset investments. There's always some maintenance and upkeep.
08:34 That might be the way to go.
08:43 Suggestion: Build your next business ready to sell.
08:52 Suggestion: Listen to your intuition telling you to diversify.
09:21 Suggestion: The people who tend to do really well at this are typically really quiet. Otherwise there's no edge. A lot of people pretend to be good at it and teach everybody else, but they're not really that good. But they're making money because they're selling the dream. The quiet operators really make the money. I don't have that kind of discipline.
Three Key Points:
- As a first-time investor, think about diversification
- The best investors are quiet about their secrets; be wary of someone selling ideas
- There’s no such thing as a totally hands-off investment; everything will require at least some form of maintenance.