In this week’s episode of The CEO Warrior Podcast, Mike Agugliaro interviews Sameer Kumar who teaches experts how to build six-figure, office-not-required lifestyle businesses. Sameer is also the author of How To Make Over A Hundred Thousand A Year Working Under 20 Hours A Week. During the show, Mike and Sameer discuss creating a lifestyle business, technology, and business owner strategy.
Main Questions Asked:
- What is a lifestyle business?
- Give us some tips and tricks about technology that we aren’t thinking of to create a lifestyle business.
- Do you see technology as a future problem for people?
- What is broken with some business owners today?
- Tell us the turning point to owning a law firm, having employees, and the day when you figured out it wasn’t what you wanted?
- Talk about the power of investing in yourself.
- Talk about your favorite marketing theories and strategies.
- What do you think business owners should hear and think about?
Key Lessons Learned:
- A lifestyle business is having a different way of looking at how things operate and working on your own terms.
- This involves working the amount of hours you want at any location you like.
- Today’s hamster wheel is more like 9am-9pm and always on-call.
- Having a business lifestyle also gives you a different way of looking at money.
- Think of a lifestyle business as reverse engineering and thinking about what you want your life to look like, then creating a business that serves that lifestyle.
- You are either creating your life by design or it will be created by default.
- Put time above all else and kill your overhead, as you simply can’t have massive bills.
Technology and Lifestyle Businesses
- Automation and outsourcing is all about freeing up time to do the stuff that you want.
- Money is renewable, but time isn’t.
- Outsourcing used to only be for billion dollar companies, but it is now available for solopreneurs, either locally or internationally.
- If you have a cellphone and Google, you can grow any business you want today.
- Technology isn’t good or bad, but there is a lot of noise to cut through in order to find the gems.
- If something is working for you, don’t get distracted by the shiny object. Instead, get better, master, and own the method.
- The M.E.D is the minimum effective dose, so just use what you need to get the job done; otherwise, you will be distracted from growing your business.
- Technology is becoming crippling for some of us, as we feel the need to react instantaneously.
Business Owner Strategy
- Don’t overthink the situation, and get out there and do your thing.
- Take imperfect action, course correct, and know it is going to get so much better.
- Marketing transcends business and doesn’t have to do with your profession.
- If you are a trained professional, you are a businessperson before anything else. When you get that realization in your head, you will start running your business in such a way.
Investing In Yourself
- Work with people you want to emulate in some way.
- Go to people for what you need. You may need different coaches for different phases in your life and business.
- A coach is someone who will tell you how to eliminate the learning curve, but if you don’t make the changes and do the work, then nothing will happen.
- If you absorb information and do nothing with it, then it only hurts you and not the coach.
- The shortest way to fast track is to invest in yourself and make the right investment if you are going to hire a small business coach.
Marketing Theories and Strategies
- Your friends and spouse aren’t your clients, so go out and test your market.
- Success doesn’t always have to do with asking what your peers think but rather testing the actual market. Ensure you measure and don’t guess.
Sameer & Mike’s Advice
- Eliminate the noise.
- Every day create a ‘do not to-do list’ and cross off all the stuff that won’t get you toward the lifestyle and business you will want. Ask, ‘will that give me more business?’
- Stop learning marketing, and start learning human psychology and what makes people tick.
- Marketing emotionally moves people from where they are to where you want them to go.
- The more that you can understand the brain of your avatar, their feelings, what they are thinking about, what they look for, and what they are attracted to, the easier it will be.
- Instead of lecturing to your audience, you have to add personality and make sure you’re not copying anyone else’s.
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