I've got a fantastic guest on the show today. Sal is a very successful broker who sells online businesses. But he came to a mastermind event that I'm a part of with the intention to network, and it turned out to be so much more, and he'll share with you his experience.
You'll also learn how the pandemic changed his life and how he's figured out the next move and how he is working to repair some challenges in his life that he's currently facing. He's working on finding a balance of family, entrepreneurship and figuring out what he's supposed to be working on right now.
I do believe that listening to someone who is open and honest allows you to see that no matter where you are in the journey, you'll have bumps in the road but can always get through them.
How a Mastermind Changed My Life
I went to the Mastermind with the sole mission of getting new deals. I was a business broker at the time, and I went to network and seek out potential clients. Little did I know at the time that I would be introduced to an entirely new world that has forever changed the way that I look at things.
The number one problem I have had since then is learning the technology and how to implement what I learned. I'm a strategist, not a tech guy. I don't usually get involved in the backend stuff. I found out for the first time that I had a lot of value I can add and share with the world.
One of my struggles was managing multiple communities, and it was very confusing for a while. I've had to learn to create content and branding, and I've learned everything from scratch.
Around this time, I was a pastor and a stay-at-home dad for ten years, and it was hard for me. I come from a business background, and it was hard not to be the breadwinner. My father invented the pvc pipe, and I grew up around factories and was raised in the business environment. Around 2003 it all came down with China imports, and we couldn't compete. My family still has a small operation going though.
My Strong Desire to Serve
I got a job to broker businesses and it gave me the chance to help people. I really enjoyed preparing people to sell their business and it comes easy to me. I've seen how businesses have scaled and how others have failed. Having the experience to evaluate businesses has allowed me to help people.
You should build a business that is going to make the most profit when it comes ready for you to sell. It's not easy, but you're going to spend time building a business. You might as well decide what kind of business you want to dedicate your time to and run with it.
If you're reselling products, there isn't as much value there, and it's more difficult to cash out when you're ready to sell. Owning a private label business can work well if you do the branding right. However, it's really important to branch off from Amazon and make it your own to see the most success.
Look at businesses that you can sell at the highest multiple possible. It may be harder in the beginning, but it will be worth it in the long run when you can sell them for more money.
There is so much potential to innovate and create products and improve them. We're looking at the world, and for some reason, most people don't have the mindset that we can improve things. I believe that if I can help people see the world differently and see that they can make a difference, it has a lot of value. You can see that happen a lot in Shark Tank.
The Challenge I've Faced in 2020
This year was supposed to be a huge year for me regarding business, but everything changed when the Coronavirus pandemic hit. I had expected to close a couple of really big business deals, but they ended up falling through, which was very devastating. I also recently got injured shortly after the pandemic hit, so it's been a very difficult time for me these past few months.
Every time I get to a place where I have a high level of desperation, that is where I thrive the most because I always know that I need to pivot and find new options and ways to get through even when it feels like I won't make it.
This past year I have had several offers to work, but the closings that kept falling through and my wife's office shutting down for a while, money was really tight. I had two houses that I had to pay the mortgage on and had all of our other bills to worry about on top of that.
I've really had to learn humility and learn that sometimes life just happens, and it is what it is. Don't feel bad if you fail and if you have to cut back. Learn from your mistakes. I was so involved and obsessed with my business I forgot a lot about what's most important in life. Now I'm trying to take a step back and make some corrections in my life.
How My New Product Came to Be
The first day of the lockdown, I was exercising and then went on to playing volleyball with my daughter and ended up seriously hurting my hip. I was in a lot of pain, and eventually, a couple of days later, I got in the pool and started to do exercises that I usually do at the gym.
I'm an Olympic swimmer and have been swimming my entire life but never appreciated the water's therapeutic value and how much it can help. I started using the resistance of the water. This helped lead me to start experimenting in creating a new product to help people take advantage of using water to recover and get in shape.
As I went along, I quickly discovered that there is nothing else like it on the market. So, I got to work getting started on developing and testing.
I've quickly discovered that content is essential when you're creating a brand and helping you start a flow when you're marketing on social media and other platforms. We're planning to do a pre sell this coming week, and I'm excited to see where things go, but it's also a very stressful process. Physical products are sometimes difficult because you have to wait for molds, products, and other things to arrive in time.
We started with a product that would be good for pro athletics, and from there, we can make one that is more for the everyday person. Our target market will be those in their 50s and above. It's also really good for those who have had injuries. It's therapeutic life training. We're working on creating exercises and courses that can go along with our product. Our slogan right now is “make the world your gym.”
The Key Is to Finding Balance
My focus right now is finding a balance between making things better with my family and launching my business. I'm working on getting my business more automated and developing systems, so I'm not involved so much in the day to day. I want to spend more time focusing on my family and other products that I want to create. It's important to be careful and make sure to keep your priorities straight.
There you have it. There is nothing sugarcoated in our conversation. How do you stay motivated and get things done? It's important to have people who are there to help encourage you and show that you are not alone. I'd like you to be able to join us in Brand Creators Academy, where everyone is helping to support each other. We are like-minded people here to help.
If you want support and accountability partners and want training to grow your business, head over to brandcreators.com/bca. This past year wasn't easier, but as Sal has shared, you can get through it as long as you keep going and pushing forward.
Thanks For Tuning in!
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“Remember, I'm here for you, I believe in you, and I'm rooting for you! Now it's time for you to take action and go rock your brand”!
Take-Aways from Today’s Episode
- How a Mastermind Changed My Life (5:44)
- My Strong Desire to Serve (15:20)
- The Challenge I’ve Faced in 2020 (22:39)
- How My New Product Came to Be (32:20)
- The Key Is To Finding Balance (47:03)
“There is so much potential to innovate and create products and improve them”.
- Aqualean: https://aqualean.com/
- Digital Product Creation Fast Track – https://learn.brandcreators.com/offers/Zo37wCyz/checkout
- Brand Creators Academy: – https://learn.brandcreators.com/bca-community