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The transcription is about owning your own business and the key elements needed to start a successful business. It emphasizes the importance of understanding the "why" behind starting a business and the need for sustainability. The speaker advises against getting caught up in minor details like designing a business card and instead focuses on getting customers and generating revenue. So you've been thinking about it for a long time, you have seen other people do it, you've thought about it, you have your current situation that you're in, you may love it, you may not, you may love your job, you may not, but it's all been on your mind, owning your own business. You've always imagined, you've always heard, and the freedom, being the boss, doing what you want to do, on your time, making the money that you want to make, the control is in your hands. The only thing holding you up is, you don't know how, you've never done it before. You think you can do it, you tell yourself you can do it, but can you do it? You haven't done it, so you don't know. This episode, we're going to discuss the key elements, what you need to start your own business in 2024, build a six-figure income, and take your own fate, the control of your life, into your own hands, so that you can have a life of freedom, fulfillment, enjoyment, and bringing service, a product, to your community, to the world, and making the world a better place. All those things come with owning a business. How do you do it? Sean, you have one minute to tell us. You build multiple businesses from scratch, true entrepreneur, and you've gone through the highs and the lows, you've gone into the nooks and crannies of really, there's nothing in business that you haven't really crossed, at least within the industry that you've been in, right? Of course, there's things that you wouldn't know how to do here or there. That's the beautiful thing about you. You say, I don't know how to do that, and I'm completely okay with that. A lot of business people, they want to own a business, and they feel like they've got to know it all, and then I'm telling you, I've been watching Sean for a long time, and if there's one thing I get from him, it's that he doesn't even want to know how to do it. He's like, that doesn't interest him. He needs to look at his face, it goes just stone cold dead like, I am not interested in what you're saying right now. You know what he would do? We don't even need you today, Sean. I'm not going to tell him what you told me. No, I'm just kidding. He would find someone to get it done. Today, though, to get you rolling, to make your dream come true, your reality of owning a business, we're going to discuss that today, and you will get some insight. Here's the interesting thing. It's not going to be what you think it is. You think you're going to get this one, two, three, four steps to do it, and that's not what you need. Honestly, it's not what you need, and I'm going to let Sean take over and help explain why that is the case. Sean, someone comes to you, they say, I want to start a bakery. I want to start my own automobile shop. I want to start my own lawn care company or my own insurance company. What do you tell them? What's the first thing that they have a general idea, but what do you tell them? Yeah, so, and we've talked about this in the previous episodes on the three step formula, which is the what, which is, I want to open up a bakery. I want to open up an insurance agency. I want to start a podcast. I want to start a lawn care company, right? That's the what. That's start a business in 2024. And then the second one is the why, right? And so, like, getting real honest with yourself is like, okay, well, I want to start a bakery because I'm tired of, you know, working and creating somebody else's destiny. I'm tired of, you know, not having the freedom that I want to have, the flexibility, whatever your reason is, right? And so, this is where a lot of people, I would say 90 plus percent of people, and statistics show this, where they don't get it right. They don't spend enough time on the why. And I know it doesn't sound sexy, and I know you hear it all the time, and I'm saying this because I've said it to myself, like, the why, why, why. You hear it all this. But, man, creating these multiple businesses, like Ewan has said, and being on this entrepreneur journey, and applied suffering, embracing the suck, at 36 years of age, and these businesses that I've created and sold, one of them as well, two years ago, is the why is the most important key ingredient behind it. Because if your why is just not, if it's not powerful, then it just won't be sustainable, and you're going to end up throwing in the towel. Firstly, so what do people do instead, right? To me, if I was thinking about it, they have a good idea, and they see themselves doing this thing with this good idea, and it makes logical sense that they want to do that thing, and they think, I can make money off of doing that. And if I can make money off of doing that, I'll be my own boss, and all the things that Yes. Right. Yes. Yeah. Yeah. Yeah. 100%. Yeah, because when it's early stages, and when you have the idea, or the thought, and you're like, okay, now it's time to execute, new year, new you, let's make this happen, right? The exciting phase. The exciting phase, and it's almost like a runner's high. You start doing these things, and you don't realize it because you're not detaching the emotions, and the feelings, and the thoughts behind the reason, the why behind it. So instead, you're just going off of the feelings and emotions. I'm tired of, I don't like my boss. I'm tired of the nine to five. I'm tired of not creating my own destiny. Whatever that looks like, right, for you, that is a feeling-based decision. So you have to dissect. For me, you have to dissect and follow these steps because if you don't, it's just a recipe for disaster because in six months, 12 months, when the going gets tough, you're not prepared for it, so guess what happens? You throw in the towel. You go back to your job, right? So you see this all the time. The statistics don't lie. Go type it into Google. Most businesses fail within that 12 months, 36 months, and even, I think it's 85% of most businesses fail within that eight years, right? What would you think someone would say if they failed at their business? What would they think the reason they failed was? I would just say the number one thing is lack of knowing oneself. Because if you truly know yourself and what you're capable of, and a lot of times we don't know what we're capable of until we actually slow down, go slow to go fast, and slow down and really dissect on what it is that makes us come alive because think about it, right? So whatever industry that you're in, nine times out of 10, you either are starting something on the side or you're wanting to start your own business because you got terminated or you're wanting to create additional supplemental income and what society tells you is, hey, you can make $500 extra a month, $1,000 extra a month, $3,000 extra a month. That all sounds good, right? But what really goes on behind the scenes to make that extra $500 a month, $1,000 a month, if that's spelled out, if you're sitting across from me right now and I spell out what it actually takes to make $500 a month in supplemental or passive or active income, nine times out of 10, I will argue that you are not willing to put in the work. And what I mean by that is it's easier said than done, right? Starting your own business. If you want to start your own business, man, you're going to be your biggest cheerleader, your biggest advocate, but make sure you stay through this episode today because what we are about to share is going to be the key ingredient. It's going to be gold because it's going to really allow you to peel back the layers and dissect your own reasoning for starting that business before setting yourself up for failure. If you have these three steps, if you implement these and take the time to understand your why on why you're doing this, then you become an unsolvable force. And so when the time gets tough, when you get sick, right? Or when something happens in your life, right? You're just tired or fatigued. You know you need to do this thing, but I'll get it tomorrow. And then the next Wednesday or the next Tuesday, I'll get that tomorrow. Then everything starts slipping. You can't do that in business. If you're going to have a sustainable, and I think that's the key word, is sustainability. I think a lot of people could make the $500 a month. They could make the $1,000 a month. Maybe the $3,000 a month, they could do it. But they hadn't thought past the sustainability. Because you don't just do it once and it's over. There's so much more that goes into it to sustain. It's easy to get to the top. It's really hard to stay there. And I'm not saying it's easy to get to the top. It's even harder to stay there and consistent. Without self-sabotaging yourself or losing the excitement, the steam, which that would all come back to everything you just said at the start, which was the why, the purpose behind it. We're going to get more practical. A lot of people want to hear it. The physical thing that I can do to go build my business. But it's so important. You're going to get that today. There's things that you're going to do. Let me tell you, it's not the things you think that you need to do. It's going to be very exciting when you hear it. We talked about it before the show. I got excited. I was like, yes, I know this. And that is exactly what I would do. If it was me, it's exactly what I would do now. And it's not what I would have done in the past. You know what I would have done? I've talked to so many people, and I've tried to tell them, don't work on your business card. Don't work on your business card. Let's say it takes you 10 hours to get your business card just right. When I see that now, it makes me want to throw up, because I see people are so excited about the business card going, and the future, the excitement. And they're like, I'm so official, and that's awesome. But that's 10 hours you should have been getting a customer. 10 hours you should have been thinking about who do I need to talk to to bring revenue in. You don't need the business card to have revenue coming in. Once you get revenue, then you can work on your business card. And you can do both at the same time. I'm not saying don't do that, but the principle is, you might feel like you're doing a business. You might think you're doing a business, but are you avoiding the needle movers? That's right. And we're going to get into those details. And so, yeah, sorry, continue. Yeah, I love that. You hit the nail right on the head. And so, like what Ewan said, the biggest thing is when you come up with a why, the reason this is so important, and this step is so important, is because when you face those hard challenges, you're going to have to come back to that purpose, that why. And I preach this to my team all the time, and everybody in my community and around me, is when the going gets tough, right, that's when you have to pull from that. And that's when you become an unstoppable force. And so it's like, if you listen to our last episode, Ewan was sick as a doll. Dude had flu. He had a flu, down for like 10 days, but he still showed up on the podcast. He showed up, why? Because his purpose was bigger than how he felt, how he was feeling that day. 90% of people, the reason businesses fail is because, oh, I don't feel like doing this today, so they don't show up for the leader, for their employees, or their business, or their customers, or their emails. Or maybe they don't respond as quickly as they did 12 months ago, so that customer realizes that, and now it's creating a bad experience. Why is McDonald's and Amazon, all these huge, mega, giant businesses so successful? It's because they provide the same experience over and over and over again. Chick-fil-A, big advocate. Every time I go in there, they know my name, they smile at me, and it's the same service over and over again. How is that possible? It's because they have their why, right? The founder, the leader, you listening to this, right? Wanting to start the business, you are the leader. Your customers, your eventual, if you got employees or don't have employees, your community, everybody around you is looking, now all eyes on you. And if you don't have your why, if you don't have the unstoppable force, when you don't feel like it, you will not last. Then all you have is just a job, right? You just are gonna be working in your business for the next six, 12, 18, 24 months. As you grow, as you replace yourself with employees, because you have your why, then that is how you, from what I have learned, that is how you monetize, scale, grow to what you want your business to become, right? To ultimately allow you to live the life that you want to live in design. And I just want you to think, we discussed this episode being something that helps new business owners. This made me realize, someone's in their 24 month period, their 18 month, their 36 month, they might be in a mess right now because they hadn't done this work first. Think about that for a second. I thought about that. This is probably super beneficial because it's never too late, but that might be why you're in a mess right now. It might be why your business is not going in the direction you want it to be. Nevermind those of you who haven't started yet that are about to, see for yourself in 36 months, the version of you that hasn't done this groundwork first, and then having to fix that problem down the road, and it's already a headache and a mess, as opposed to getting there, all engines full steam. You know what I mean? If you're in your business right now, maybe five years, and it's not going the way you want it to, what you just started right here, this is very useful. This is practical. You're about to sit down and still do that because the beginning of the rest of your life is today. Yeah. And so when I first started my first business in 2015, what's interesting is, my purpose was to educate. We had our purpose, right? We had it all lined out. I knew I needed to do these different things, core values, purpose. And so I did all these things that I'm preaching, and I never really understood the ingredients behind it. I just did it because that's what people were telling me on audio or video or whatever it may be, so I just went along with it. And what's interesting is, you fast forward when you have this business and you work on these different things, and you become an unstoppable force. And for me, I always wanted a business to have the financial freedom, to have the freedom to do the things that I wanted to do, live life on my own terms, right? And you may have your own reason, right, when you find out why. When I got to a place where I'm like, okay, cool, I have employees, I have a team, we're making money, we're retaining customers, I'm gonna go start. And as an entrepreneur, you may resonate with this. I was like, what's the next idea? What's the next thought? I'm gonna go start another business. The problem with that is, the business was not running itself at the time, right? I was still working in the business, but I was trying to go start something else. Where focus goes, energy flows. So I was spreading myself too thin. What was the thought, this is interesting, I know we're gonna go here, so your business was, it was succeeding, you were getting there, but what you said, it wasn't self-sustaining just yet, and you jumped to another idea, another business, because as an entrepreneur, that's what you should do, but maybe not in the order that you did it. Was there something in the business that you were doing that had made you lose your interest to go start something else, or what was that for you? Yeah, for me, so it was a, it was, and we talked about this in our, actually, this will be on the Thursday episode, so because of all the systems and everything that I was putting in place and replacing myself, I was getting bored. I felt mundane doing the same thing over and over and over again, repeat. So I'm like, I gotta go do something different. I gotta do something else, right? And so, and I've learned so much, and one of the things that I learned is, like, you get that business to a place where it is a well-oiled machine, right? You have the right people in place, you have the right systems in place, you have the right process in place. Then you can go start up another business. I don't need to be this hundred million dollar business. I was honest and real with myself. When I first, I just wanted to be free. See, what happens when you start a business, the reason why it's so important, because you may be thinking, oh, I want to be this multi-million dollar business, but let's be honest. Are you going to be really honest with yourself? Are you going to put in the action? Go look at the action on what it actually takes to be a million dollar business, right? For me, it was about freedom, financial freedom. For me, it was about, if I'm a million dollar business, and I'm clearing $50,000 a year, how, the profit margins that do not make sense, that does not make sense. That's a horrible profit margin. But why not create a half a million dollar business, a six digit, you know, and be a 25, 30% net profit margin, right? And that made sense to me. Profit, shout out to Mike, Profit First, it's great audio for business owners out there. Profit First, it's such a great audio. It really changed the game for me. You still live by that? Yeah, absolutely. Nine years later. My wife started a business, she's having tons of success, she's an educational diagnostician, and she's got the money coming in now, and she's like, we need to re-profit first again. It's like, amen. In fact, you just mentioned it, and you heard it something twice, that's the sign. Yeah. So, and this is all aligned with your why, right? And so, what it is that you want your business to allow for you and work for you, right? Because I look at it as an asset. It should be, it should be paying for your liabilities and the things that you enjoy, the finer things in life. And so, once, once you, once, once I made the transition to this other business, after reflecting back, it's like, why did I make this decision? And this was a landscape company. And, to make the long story short, the reason I started it was out of fear. And out of fear, and so, which is interesting because, why do most people start businesses? Because, of a handful of reasons, but maybe of, of termination, or like I was, or maybe it's, I don't like my boss, or whatever it may be, right? And so, but the problem with the fear, is that's an emotion. See, I didn't detach my emotion, I didn't do the work behind the scenes on, why am I starting this other business? Right? 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