Podcast Summary
Growing up with financial struggles led Bedros to desire wealth and entrepreneurship: Bedros' past experiences drove him to pursue entrepreneurship and create a business that brings wealth and enjoyment
Growing up with financial struggles and witnessing the hardships of his family led Bedros to have a strong desire to become insanely rich and find a way to make money beyond traditional employment. He shares his experiences of being unemployable and the embarrassment of not being able to afford brand-name products with food stamps. This drove him to pursue entrepreneurship and create a business where passion, creativity, and working with cool people are essential. Bedros emphasizes the importance of subscribing to his YouTube channel and encourages viewers to leave comments and hit the thumbs up button to help spread the content. His past experiences have shaped his goal to build a successful business that not only brings wealth but also allows him to enjoy the process.
The importance of a mentor and financial freedom: Find a mentor to believe in you and offer opportunities, financial freedom enables a richer life and more opportunities.
Having the right mentor and financial freedom can significantly transform one's life and open up new opportunities. The speaker shares his personal experiences of hating his jobs due to the lack of financial freedom and the desire to live a richer life. He found a mentor, Jim Franco, who believed in him and offered him a chance to open his own personal training studio. This experience showed the speaker the benefits of financial freedom and the importance of having mentors. He encourages the listeners to seek out mentors and learn from them to achieve their own goals and live a more fulfilling life.
From Employee to Entrepreneur: A Journey to Personal Growth and Financial Freedom: Passionately pursue entrepreneurship, seek mentors, and be prepared for increased responsibilities and stress for personal and financial growth.
Finding entrepreneurial success requires passion, creativity, and the willingness to take control of your career. The speaker shared his experience of transitioning from an employee to an entrepreneur, and how his involvement in Fuel Hunt Apparel led to personal growth and financial freedom. However, this came with increased stress and responsibilities. Despite the challenges, he emphasized the importance of starting a business based on one's passion, as there is a market for it and it allows for creativity and working with like-minded individuals. He also encouraged listeners to seek mentors and learn from their experiences. Overall, the message is that entrepreneurship can lead to personal and financial growth, but it requires dedication, passion, and a willingness to take risks.
Blend of Art and Business, Making a Difference: Surround yourself with like-minded individuals, it's about making a difference, passion is crucial, and giving back to the community is rewarding.
Entrepreneurship is a blend of art and business, requiring creativity in various aspects, from marketing and sales to product development. Surrounding oneself with like-minded individuals who share similar values is essential for success. Entrepreneurship is not just about making money; it's also about making a difference in the world. Giving back to the community through charitable donations and volunteer work is a rewarding aspect of entrepreneurship. Passion for the business is crucial during tough times, and being an employee may not provide the same level of freedom and impact. The entrepreneurial journey may involve challenges, but staying committed to the cause can lead to significant rewards.
Staying passionate and creating multiple income streams: Passion and multiple income streams are essential for long-term business success. During economic downturns, those with both may outlast competitors.
Having a passion for the industry and creating multiple income streams are key to long-term success in business. During the housing market boom in the late 2000s, many real estate agents entered the industry for the quick money, but when the economy crashed, they were the first to leave. Those who stayed were the ones who were passionate about real estate and had multiple sources of income. A Fit Body Boot Camp owner, for example, can create multiple income streams by opening multiple locations and sharing revenue with the host business or franchise owner. By focusing on passion and multiple income streams, individuals can build sustainable and profitable businesses.
Exploring Multiple Income Streams for a Fit Body Boot Camp Franchise: A Fit Body Boot Camp franchise can increase revenue through membership fees, additional programs, supplement sales, online coaching, and email marketing to potential clients.
Creating multiple income streams can significantly increase the revenue for a business. Using the example of a Fit Body Boot Camp franchise, a location can generate income through membership fees, additional programs for specific demographics, supplement sales, and online coaching. Even before the doors open, the franchise owner can build an email list and market to potential clients who may not be able to attend in person, providing an opportunity for online coaching and supplement sales. By exploring various income streams, a business can expand its reach and revenue potential beyond a single product or service.
Diversifying income streams for financial stability: Creating multiple income streams can provide financial security and reduce risk for entrepreneurs. This can be done by offering additional services or products within a business or diversifying investments outside of it.
Creating multiple income streams can help secure financial stability and reduce risk for business owners. This can be achieved by offering additional services or products within the same business, or by diversifying investments outside of the business. Franchisors, in particular, can benefit from this strategy by providing franchisees with multiple revenue streams and making their businesses more attractive for investment. The speaker in this conversation emphasizes the importance of having a passion-based business that allows for creativity and working with loved ones, as the entrepreneurial journey can be all-consuming. By having a diversified income portfolio, entrepreneurs can sleep better at night knowing they have a safety net in place.
Raising a successful business like a family: Surround yourself with valued people, focus on multiple income streams and recurring revenue for peace of mind, financial stability, and increased business valuation.
Building a successful business is like raising a family. Surround yourself with people who share your values and make your life easier through subscription-based services and recurring revenue. This approach not only brings peace of mind and financial stability but also increases the valuation of your business when it comes time to sell. By focusing on both multiple income streams and recurring revenue, you'll create a thriving business that you can't get enough of, just like cherishing your family members. Remember, when you make life easier for your customers by offering subscription services, they'll keep coming back, and your business will reap the benefits.
Maximize reach with irresistible offers and targeted ads: Create a no-brainer deal, allocate ad budgets wisely, differentiate from competitors, and leverage social proof to attract and retain customers, leading to financial success and philanthropic opportunities.
Creating an irresistible offer and effectively marketing it through targeted ads is crucial for business growth. An irresistible offer is a no-brainer deal that provides significant value to customers, leading to repeat business and multiple income streams for the entrepreneur. To maximize reach, allocate resources towards advertising on various platforms, ensuring the offer stands out from competitors through differentiation and social proof. By doing so, businesses can attract and retain customers, ultimately resulting in financial success and the ability to make a positive impact on causes they care about.
Referral giving and influencer collaboration for business growth: Implement a referral giving system and collaborate with influencers to reach a larger audience and build trust with potential customers, resulting in easier leads and lower costs compared to paid ads.
Growing a business involves more than just creating great content and relying on organic referrals. While these methods are important, they may not be enough to scale a business quickly. To truly force multiply growth, consider implementing a systematic approach to referral giving and collaborating with influencers and content creators who already have your future customers. Referrals are the easiest leads to close and convert, and they come at a lower cost compared to acquiring new customers through paid ads. By creating a process for referral giving and collaborating with influencers, you can reach a larger audience and build trust with potential customers. Additionally, growing your personal brand and acquiring equity in other companies can lead to long-term success and sustainable growth.
Building a personal brand leads to significant business opportunities and financial success: Building a personal brand allows you to charge more, close more deals, and have less buyer's resistance, opens up opportunities for multiple income streams, recurring revenue, and even selling the business one day, and enables giving back to charities and helping those in need.
Building a personal brand can lead to significant business opportunities and financial success. When you become a personal brand, people buy who you are, not just what you sell. This shift allows you to charge more, close more deals, and have less buyer's resistance. A strong personal brand also opens up opportunities for multiple income streams, recurring revenue, and even the possibility of selling the business one day. Additionally, as a successful entrepreneur, you can use your wealth to give back to charities and help those in need, creating a fulfilling and meaningful business journey. Attend Bedros Keuilian's event, Bedros Coolian Live, in Scottsdale, Arizona, or join him on the Rise to Greatness Tour in Australia to learn more about building a successful personal brand and entrepreneurship. Remember, money is not the enemy, but averageness and complacency are. Embrace change and flip the switch towards success.
