What Business Should I Start? – Ask Clay Anything

Show Notes

Are you trying to figure out what type of business to start? Clay breaks down the different types of business models and explains why you must start with the end in mind to build a successful business and life.

Question – “I have this craving inside me that wants to own or have a part in multiple companies and learn all about business and finances but I don’t really know what or where to start. I would enjoy helping other people’s businesses grow but at the same time I want a business that allows me to own at least one freaking Ferrari Spyder. But to achieve that goal I need money. However, I have no freaking clue how mortgages work and I’m only proactive with my own bank account. I can learn for free, though. I need help in figuring out if I should try working in and work on starting different businesses, or possibly work my way up to being a business coach and/or trying to buy franchises or invest in stocks?” – Josiah J

NOTABLE QUOTABLE – “With no clear picture of how you wish your life to be, how on earth are you going to live it?” – Michael Gerber (Best-selling author of The E-Myth Revisited Series)

NOTABLE QUOTABLE – “The thief does not come except to steal, and to kill, and to destroy. I have come that they may have life, and that they may have it more abundantly.” – John 10:10

NOTABLE QUOTABLE – “The problem with most failing businesses I’ve encountered is not that their owners don’t know enough about finance, marketing, management, and operations – they don’t, but those things are easy enough to learn – but that they spend their time and energy defending what they think they know. The greatest business people I’ve met are determined to get it right no matter what the cost” – Michael Gerber

AMPLE EXAMPLE: Proven Business Models:

www.FullPackageMedia.com

www.TipTopK9.com

http://www.thrivetimeshow.com/Oxifresh/

https://delrichtresearch.com/

www.EITRLounge.com

Business Coach | Ask Clay & Z Anything

Audio Transcription

All right. Thrive nation. Welcome back to the thrive time show. On your radio and podcast download. We have a question that was emailed in from a member of the thrive nation. So I’m going to read the question sent in from Josiah to [email protected] and thrive nation. I encourage you to engage anytime you have a question, just email us at info at thrive time, show.com and we will be very responsive in answering that question as soon as possible. So now without any further ado, our email from Josiah j and I’m gonna. I’m gonna have to queue up some kind of like some sort of epic music so it’s kind of a longer email and I thought we should.

Here we go. This will set the business conferences tone. He says, I have this craving inside me that wants to own or have a part in multiple companies and I and learn all about business and finance, but I don’t really know what or where to start. I would enjoy helping other people’s businesses grow, but at the same time I want a business that allows me to own at least one freaking Ferrari spider. But to achieve the goal, I need money. However, I have no freaking clue how mortgages work and I’m only proactive with my own and I’m only proactive with my own bank accounts. I can learn for free though. I need help in figuring out if I should try working in and work on starting different businesses or possibly worked my way up to being a business coach or trying to buy franchises or invest in stocks. Okay.

You looking for a, a place to start? All right, so if you’re looking for a place to start and you want to make a hundred grand a year, I’m going to give you four options, um, for how to make 400 to make 100 grand year. That will definitely work. It definitely works. You want to make 100 grand a year. This will definitely work for you. But before I get into those four options, I want to make sure that we break down the notable quotables to help you kind of get the right, the right framework going on here. Uh, Robert Today, you drove to the man cave. What kind of vehicle did you drive today? A, uh, jeep wrangler. Is that a new one? No, it’s. I’ve traded cars with my fiance. I, he, I own a Hyundai Elantra, but the wranglers way cooler. So. So you traded vehicles?

We traded vehicles. Is she cool? She’s cool with that because she actually likes a break from the wrangler because it’s big and it’s a stick and my car’s small and it’s automatic. But you liked the wrangler. Love it. Okay, so I just want to make sure we’re getting this idea Josiah. The culture around you is going to tell you that you need to buy a Ferrari. Spider. Now if you want to buy a Ferrari spider, then go buy that Ferrari. Spider. If you don’t, don’t know. Next idea. Robert, do you live in a house? Do you live in a van down by the river? Do you live under a bridge? Do you have in a box? Do you live at a loft? Do you live in a hotel? Where do you live? I’ve lived in the van down by the river, but I currently live in a home and a house.

Okay. Now society would tell you need to have a big house, big house, big house, big. I mean how big do you think right now, Sean, that society society’s telling you how big of a house to society think you should have when you’re 40? When you’re 40, I mean how big of a house you gotta have that 5,300 square foot house and it has to be now. Now if you don’t, if you don’t have that big of a house, I mean you’re kind of an idiot, right? I mean because society says right now society says, how many kids are you supposed to have their shot? How many? How many? You got to have at least two kids according to Robert. Is that what you think society’s thinking right now? Maybe two point five. Is it, is it prudent? F Two. Two? Yeah. And what kind of car does society think that you should drive the average person in America?

What kind of car should we drive? If we’re really being responsible and making good decisions? Uh, you got a job, like something like a risk being responsible. Obviously you need the high safety writing like an Audi or like a, you know, a Mercedes or something like that. Okay. So you get the, you get the card in society once you get the house. Society once you, the number of kids, society once. But I’m asking you because most people are asleep and they never ask themselves these questions. What do you want? And Michael Gerber piles on here and I want you to break down this notable quotable Robert, because you see a lot of business conferences clients that you coach who are late forties, early forties, and have just now discovered this Id. And it sounds like Josiah is kind of a younger guy. So I’m hoping this can really help Josiah at a young age. Right? So the, the notable quotable from Michael Gerber is with no clear picture of how you wish your life to be. How on Earth Are you? Are you going to live it with no clear picture of how you wish your life to be? How on earth are you going to live it, Robert? So whenever I hear that quote, the first thought that I had was, uh, when Napoleon hill talks about drifting

and how he talks about how drifting a will lead to certain failure and basically the whole premise of his book think and grow rich. And really what I would say is one of the main philosophies of Napoleon hill is to have a definiteness of purpose. It’s to know where you’re going. A

can I go deeper into the world of Napoleon Hill? I would like for you to go as as deep as possible. But before we go that deep,

I want to keep this music just six. I want all the listeners to understand this idea. Just sign. Once you understand this, listeners understand this. This show is created to help you, to help me escape from the norm, to help you think about your life on a Meta level, to think about your life above the emotional, daily, or reactionary world that people live in. So when you are listening to today’s show, don’t listen to the today show and think, this shows only about Josiah and we’re only literally answering his questions were asking you right now, where would you be with your life right now? If you could choose, if you ultimately could hit the the easy button and say, this is what I want to do with my life, what would you do with your life? You only have one life to invest, so what would you do with that life if you had all of the money, if money was taken care of, because

today when Robert drove to the the man cave, I know this might not seem like a a deep idea, but hopefully you get this idea. He didn’t over spiritualize the pumping of gas. He just put the gas into his vehicle and drove here. That’s all business is. A business conferences is simply fuel to get you from point a to point b. it’s not awesome. It’s not great. It doesn’t even matter. It’s just. It’s like just gas to get your way to be. Your Business doesn’t matter at all. What matters is your faith, your family, your fitness, your friendships, what you’re doing for fun, finances, just. It’s just a small part of life. It’s real. It really doesn’t matter, but it’s the only thing that matters if you don’t have any money, but once you learn how to build the systems and to create financial prosperity, money is one of the last things that really matters the least of anything out there.

It’s just currency. If you think about what money is, we have a Fiat currency right now where it’s money by decree, the word Fiat means by decree, so somebody is declaring the Federal Reserve is declaring that a piece of paper is worth this many units of economic value and so you exchange currency for the goods and services you’re looking for. Do you, do you want, you’re just exchanging currency for the goods and services that you. What if you didn’t have to exchange your time for the currency, what have you had systems in place, and that’s really why we do what we do here. So, but Robert, you had a, a hot take this just in from Robert Redmond, the business conferences or coach. We’re going to a deeper level Josiah.

Yeah. So we’re talking about Napoleon Hill and one of his main core philosophies is having a clear and definite purpose. And by not having that, you’ll begin to drift, which basically, uh, how I understand drifting is doing things that don’t matter, really engaging in temporary pleasures that fade away quickly and don’t help you move toward your goals. And Napoleon hill goes as far, and I don’t don’t mean to get too deep, there’s a little bit of that theology side of me coming out, but in his book, outwitting the devil, he really equates a drifting to a tool that Satan uses to distract mankind from being able to live a purposeful life. Um, and I really, I agree with you that I really liked the imagery because I don’t, I don’t necessarily care where you’re at spiritually, whether you really believe in Satan, whatever, but to use that imagery of, Hey, the world, uh, the, the source of evil,

okay. Uses this tool called drifting and abstract humanity. And I’m not arguing with Robert here, but I want to make sure you get this idea. Um, I believe that the Bible is to be, is a literal, is the literal inspired word of God. All right? So it talks about in the Bible, and the Bible says, Satan comes to kill, steal and destroy. Let me read you the actual Bible verse so you can kind of hear it and you can take it to mean what you want it to mean. Okay? But this is what the Bible actually says, and then you can, you can, you can break it down and go, I really don’t agree with that. That’s fine. I’m gonna. Read you the actual Bible verse. This is from John Ten, 10 John Ten 10 from, from the controversial book known as the Bible. John Ten, 10 reads, the thief does not come except to steal and to kill and to destroy.

I have come that they may have life and that they may have it more abundantly. That’s from John Tin. Tin from the controversial book known as the Bible. So if you think about that for a second, every morning when you wake up, when I set my alarm today for three in the morning, three, um, I think my phone’s right there. Robert is my phone out there is my phone. You might see it. This setup, there might be set up on the table somewhere. It’s like pink. Have you sitting out there? I’ve got a pink [inaudible]. That way it might just see that there. Is it set out there? Maybe it’s on the, on the table over there. If it’s not, it’s okay, but I set my alarm this morning for I think three, 18. Don’t, don’t stress about it. I set my alarm for 3:18 now when my alarm went off at three, 18 in the morning. What do you think, Robert? I mean Robert, what do you think that I was staying when my alarm goes off at three, 18 in the morning. It sounds something like this.

What

do you think? I’m thinking when that thing goes off, what’s the first thing I have to do? What’s next? I got to be. I’m going to be very, very honest with you guys. I’m thinking myself frack. It’s already called it off. It’s so I just, I don’t want to get up that early cause it’s three. 18 in the morning. Now I get up though and the first thing I think about is did that thought to sleep in come from God who comes to give me life and life more abundantly or did that idea come from Satan comes to destroy, right? So I thought to myself, and I, I probably shouldn’t say this a lot, but I, I say out loud, oh, I probably shouldn’t do it, but I’m getting in the shower, take a cut of about. I take a shower, then I get it from.

I go from hot and I can make it colder, colder, colder as I get out and I’m lit. I literally said today, Hey, Satan, screw off. I literally said that. I’m like, screw off. I got this because I didn’t want to get up today. Now once I get up though, at about 3:30 3:45, I’m driving to the riverwalk to go work out with John. After had a great workout with John and I got myself all thoroughly worn out. I had a good time. Now I’m thinking, man, I’m inspired because I just defeated the demons in my head an hour after I got out of bed. I’ve already defeated the demons in my head with an hour of the time I got out of bed. I’ve already defeated those demons, those, the doubt, the negativity. And then I get that momentum going every day. But I have already done battle and the one thing, the Bible it talks about a lot is, is it talks about battling spirits and how we’re basically, I’m battling a spiritual world.

Um, we’re not actually having a warfare with the human deals of actually fighting with. We’re actually fighting with, with an enemy we can’t see. And if you don’t believe that’s fine, but all I’m saying is that I feel like it’s in your head, Bro, like a lot of this is in your head, so you’ve got to have that fight with yourself on a daily basis to be very disciplined. Now once you get to a place where you’re very disciplined, Robert, you have a hot take, their no, I’ll always going to ask is you’ve been doing that routine 21 years for 21 years. Okay. But you’re still having 21 years later. Those same thoughts that everyone experiences on that first day everyday. And you’re having that every day. So, so what you’re saying is the battle is never ending. It never always gonna be a battle. I never want to edit the podcast.

I enjoy answering the questions, but I never want to produce it. Right. Uh, I, I never want to. I mean we have like, I think 1200. I’m sorry, 1300 podcasts I think now. 1,200 podcasts. And so when a listener comment to their day, you mean you guys are catching up with John Lee Dumas? He has the most in the world. I’ll be, I’ll beat him. I’ll beat him soon. But the thing is, is that he’s a really inspired person. John Lee Dumas says, I look up to him as a source of diligence as a source of consistency. Seven days a week podcast. I love that. He does that. I love. He does seven days first. Got To do seven. I think he actually has eight a week now. So I think I need to do like 21, 21 a week. No, seriously to care on our second one today. Yeah, but I’m just saying is that, that’s, that’s uh, it’s a, it’s a different mindset. It’s just rise and grind. It’s a high five at five. If you count high five, somebody at five in the morning, you’re not an entrepreneur, but

awesome. Why I’m emphasizing this point is because, you know, clay, when I first met you, um, I, you know, seeing what you do, seeing your schedule is like, Whoa, Whoa, this is pretty intense. This guy must have it down. He must not experience the same things that I do. You know what I mean? Uh, but you still do, you still, when the alarm goes up, you say, frick, I don’t want to get up. This is bad, but you do it anyway. Which is a, I don’t know. To me it’s pretty. It’s pretty powerful.

I would just say you’re never going to get to a place where you don’t want to hit the snooze alarm. You’re never going to get to a point. Now I will say I wake up every day inspired to do what I do, but I’m just, I’m just telling Ya I’m. And maybe that’s not what you want to hear. But everyday there is that. The struggle from I believe to be Satan to make me want to sleep in is there. Now you might not say that, that you feel that, but I do, and it happens in all areas of my life. I’m a, I’m a married man, I’m committed to my wife. Um, but are there struggles? Have I ever made a mistake? Cow. I’ve never had been unfaithful to my wife. But are there struggles? Yeah. And maybe I, maybe that’s just a struggle with, do I say the kind word or do I say the non unkind word?

Um, as a business conferences owner, do I hold my team accountable or do I let it slip? And so I want to do is I want to give you four ways that you can make $100,000 a year that deliver a real product and real service to people that will cost you very little to get started. Okay, so let’s go with the first one. Full package media. That’s one of our clients who worked with for two years. They do real estate photography, videography, uh, they do three d tours and for about $25,000 you can start a full package media. And now you guys have met Thomas. Sean, have you met Thomas? Oh yeah. Thomas and Thomas Generates about 105 to $120,000 a month of gross revenue with a profit margin of about 22 percent, which means that he’s making income. Um, what’s do this real quick here?

100, 5,000 times 22. So he’s making a $23,000 a month. So again, uh, Josiah, you can make 20, 20, uh, every month, $23,000 a month, which if you look at it annually would be you make $277,000 a year if you bought a full package media. And right now to buy a full package media, it’s a dollar, which I called full package media is competition other day. Yeah, there’s no competition. I know. And we’re going to switch the call center to Tulsa soon I believe, and it’s going to be on like donkey Kong and full disclosure, it’s a company that I’m fully invested in and I’m going to be helping them scale on like donkey Kong. Now another company out there. Well, what would your job be by the way? If you’re doing a full package media or does it look like you’re doing real estate photography for realtors, so you’re taking photos, videos, full package media handles all the scheduling for you.

They handle all the calls for you to handle all the marketing for you. All you have to do is have the equipment and then train people to take the photos and take the photos. Tip Top, canine. You’re training dogs, your dog training, you’re training a dog. Uh, I personally am not a huge fan of dogs. Um, which I recognize I’m in the minority. Uh, Robert, if you had to train dogs for living with you, like that industry or not, I mean if you had to train dogs, that was your career, would you be excited or not excited? I like dogs. I would not want to spend every day trading dogs though. Sean. Yeah. Uh, I’m liking the idea of flying drones more than training dogs myself, but I think we’re the minority here. I would, I would never want to train a dog, but a lot of people do love the train dogs.

And if you want to train a dog and a, you want to have someone else book your appointments for you and handle all the marketing for you. And all you have to do is train people to train dogs. No exaggeration, for $1 right now, you could buy a tip top a business in your area. And uh, they already have, I think seven markets up. Full disclosure. I’ve invested in the company. I’m a partner with the company and a tip top canine. I mean the, it’s going to be a deal where you’re definitely going to make $100,000 a year if you implement the system. I mean minimum. I mean, we’ve got one guy in Oklahoma City that opened up and I think he said he did $26,000 in his first week of business conferences out there. And uh, the margin on that is about a 30 to 50 percent.

So let’s just say that you made $23,000 for the week and you operated it at a 30 percent margin. That means he made $6,900. And the first week, which means that he is gonna make $358,000 a year. Training dogs. Now, if you think I’ve ever heard that, the space industry for now, if you paid me 300 and what’s e $358,000 a year, I would still not want to train a dog. Did. You could not. You could pay me 10 million A. and I wouldn’t train dogs because I just don’t like dogs. I like dogs. I like your dog. I want you to have a dog. I just don’t want to have a dog or train a dog. Okay. So I don’t have a problem with the dogs themselves. I’m just not a dog guy. I don’t get. I’m more of a cat guy. If you could add a cat training service, maybe I could train a cat once I traded a cat.

Really? I taught it to come to sit. Are you being serious? I’m being serious. It was the closest thing to it. To a dog. But when did you find this cat? Uh, it was a cat that I just found a, just just like I found it as a kitten in the street. You trained a stray cat. I choose, well, I found it as a kitten, so it was very young when I found it. And then I was real intentional about just working with it. Now that cats are smart and so smart, I’m like a dog. Like I had to have the tree every time for it to sit by taught how to sit and I would let it outside and for hours and I’ve just call it name cover here, toby and it would come running back to the house and then start looking at my hands.

That’s impressive. Now another, not another company out there. You might want to look at it. If you’re looking to, um, you know, if you’re looking out there to, to train, um, if you’re out there looking to make money in it and create time freedom and financial freedom in a way that is, I’m not super expensive to get started would be oxi fresh. Now oxi fresh is a carpet cleaning franchise. All these full disclosure, our businesses that I’m involved in, so we’ll put up on the big screen. It’s a thrive time show.com forward slash Oxi fresh where you can learn more about it. But uh, the company provides proven turnkey marketing, has a history of success, super low startup costs, and we have the most cutting edge carpet cleaning technology on the planet. We’ve been featured on Fox News, I think right now we have over 100.

Let me pull it up real quick because we have 131,000 reviews I think right now. Let me pull it up real quick. Uh, we have 134,000 Google reviews. We’re top in the world when you type in the word carpet, carpet cleaning quotes, and that’s Oxi fresh.com. You can learn more about it at thrive time. Show.com forward slash oxi fresh o X. I fresh the world’s greenest carpet cleaner. Now the startup costs for that company or about $55,000. So if you get a small business loan, your payment every month would be about $800 a month. And again, if less you’re mildly retarded, you can make over $100,000 a year cleaning carpets and you can open up multiple markets. And the final business opportunity I can, I can talk about today where I feel very, very good about you making six figures a year, um, for very low startup cost is direct research.

Now Dell Rick Research does clinical trials. Basically you have a pharmaceutical company out there that wants to get their drug approved and they can’t get it approved until they have a certain number of documented clinical trials. And so Dr Patrick Dentists, Dr Nathan Fishman, Dr Sara Jackson doctors, they have to conduct those trials. Patients who want to end the pain and suffering, you’re going through are willing to do a trial to see if the medication works. And so direct research finds the companies that are trying to get the drug approved and finds the doctor that is willing to do the trials and they find the patients that are willing to do the trials.

Again, Delbert research finds the companies that are wanting to do the clinical trials, they find the doctors willing to do the trials and they find the patient’s willing to do to do the trials, and those guys are the most profitable clients I’ve ever coached in my life. And last month they made a profit of over $105,000, which means that if you’re in business 12 months a year, they’re making a rab money one point two, $6 million dollars per year doing clinical trials. That’s not gross. That’s profit, right? Which is, which is why I am opening up one in Tulsa, Oklahoma. And again, full disclosure, all those are companies that I’ve invested in because I’ve helped them refine their model. I know it works and that’s the deal. And maybe a bonus one for you, one that, uh, I would not recommend for our listeners out there unless you have the money to do it.

Um, his elephant in the room, our men’s grooming lounge and we haircuts are great because people keep, their hair keeps growing most of the time. They keep getting haircuts most of the time. And we have, it’s kind of like a country club for men’s hair. And if you’re out there and you’re saying to yourself, I’m looking for a business that’s not going to be obsolete, this not going to become obsolete as a result of technology checkout. Elephant in the room. It is a country club for men’s hair. We have a great experience there. And your absolute going to love it. Do we get some negative reviews? Sure. Uh, do we get great reviews? Sure. Uh, right now we have a score of four. Point eight is our average there. We have hundreds and hundreds and actually thousands of reviews at this point. And elephants elephant in the room.

Men’s grooming lounge is an absolutely great business conferences model for most people out there that want to make income of over $100,000 a year. You can do it, but the problem is is you have to build out the store and the build out costs are being put right now into our franchise disclosure document. And I do not know what the costs are because we’ve had three different locations. Each one is different. And I’ve got to get that independently audited. It should be ready to go to franchise in August. And I could tell you, I can just say that startup costs for that business or about $150,000, but you can make really good money for a very long time. So those are five business models that can produce an income for you. Have over $100,000 a year. Now, Josiah, if your desire is to buy that Ferrari’s fighter, that’s great.

If your job, if your goal is to have financial freedom, that’s great, but those are five business models, uh, Robert, that can create the time freedom and financial freedom people want. And I think really that’s what it’s all about, right? Is creating time freedom, financial freedom. It’s not about obsessing about your business every second of the day. Yeah. And in play, where did you find yourself whenever you didn’t really have those, Hey, what? What’s important to me? What’s important to the f six model laid out for you? I remember a story that you sometimes tell when you’re received the USPA entrepreneur of the year, the award. Yeah, I had a mentor in my life who called me up and said, hey, congratulations on winning the SBA, the Small Business Administration entrepreneur of the year. I mean, that is incredible. I mean, you are just, you are on fire, man. I mean, you are, you’re rocking, you know, and uh, I want to congratulate you for getting to the top of the pile of crap.

You’re saying it weird saying weird. All of it. Where do you get? I just don’t get what you’re saying it that way. What I’m saying? What, what way? Forget it. I will. I will forget.

And I thought to myself, what is going on? Like why is this person saying that to me? Right. What they were pointing out was it takes work to stay small and being a small business owner is no, like you don’t get to go to heaven faster. Your kids aren’t gonna. Put that on the tombstone. Congratulations. You’re a small business owner, dad, although we never saw you. We do appreciate that you had a small bakery that you kept local for over 40 years. You’re awesome. This is a long tube stone right? I mean, nobody writes that grown cares. Then the day people remember the memories and experiences you had with them and see your business conferences is just a vehicle to get you where you want to go. So if you feel stuck right now, you’re not an idiot, but we got to do is reach out to our program for some business coaching.

If we’re all booked out, we can only handle a hundred and 60 clients at a time. We are typically booked out for most categories are most, but if we are booked out, I would encourage you first opted to see if we’re booked out. Just go to thrive time show.com a schedule your 13 point assessment and if we have an availability, will tell you. If we don’t, we’ll tell you, but if we are booked out, book a ticket to our workshop. Just book a ticket today to our next in person workshops. We can walk you through the systems and processes and if you subscribe on itunes right now and you just leave this as an objective review of you, subscribe to the thrive time, show on itunes and leave us an objective review. Your ticket is free and all you gotta do is buy the workbook.

So it’s 27 bucks. I mean, so you could spend $100,000 on an MBA. I thought it was a good listener. Asked me should I get my Mba? And I thought, well, the workshop, if you leave us an objective review on itunes and subscribe to the podcast is only cost you $27 so you can attend our workshop 3,703 times for the cost of an Mba. Three thousand 703. Yeah, and I think that’s probably a better use of your time is to go to 3000, 703 workshops and because we only have six a year, that would take you only 617 years. That’s a better use of your time than getting an Mba and rather than giving you a ridiculous diploma that no one cares about, I would just give you a fist bump, but Josiah, hopefully that’s helpful for you and all the thrive nation out there. We like to end every show with a boom, so without any further, I do three,

two, one, boom.

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