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The Wealth Hacker Podcast w/ Jeff Rose, CFP®
Discover a new way to grow your wealth your parents or school never taught you. Language: en Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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WH-008 Retired Marine Officer Shut Down $100,000 Per Month Business -- Here's Why
Episode 8
Wednesday, 4 September, 2019
What if you had a business that was making $100,000 in one month? BUT, what if this business was failing miserably? 😱 You may have 100,000 in sales but your company is in the red, you are losing money. It is time to make a Pivot! You will have to make some changes to turn things around. Thankfully this wasn’t my experience, but this was an experience of a close friend of mine. I recently had breakfast with him to learn more about his story. My friend is Antonio Centeno - you might know him from Real Men Real Style. He has almost 2 Million subscribers on his YouTube channel.  He was also an officer in the Marines. OORAH! This dude is Legit! 🤵 He knows fashion, but you will know he was a Marine just by his demeanor. I wanted to share his story because it is an important lesson. [Antonio] I entered the Marines in 1997 through OCS after college. Most of the men in my family have served in the military. I actually didn’t know what I wanted to do with my philosophy degree - but I knew the Marines would be a good first step. One thing we learn in the military is that you don’t fail -- you don’t give up. A Tailored Suit was the first company I founded in 2007. Even through I was making 100,000 a month, my expenses were even higher. I was losing money. Obstacles are there to stop other people. If you are healthy and relatively young- you may live until your 90s - you have plenty of time to change the world! 🙌 Remember the word Pivot? You typically hear this word associated with entrepreneurs - but it’s true for all business owners. You may be on the right path in your business but if you face obstacles, you may need to pivot to reach that next level of success. 🤔 All of the sudden you realize you need to make a change. With Antonio, he was on the right track, but he need to make a change in his business. He was talking about style for men because he felt like that was a great niche that needed to be served. But with his pivot instead of offering custom tailored suits, it was more about educating and offering tools and resources to help men dress for success. He started with A Tailored Suit - it didn’t quit work out so he pivoted to Real Men Real Style - and has developed a major following. I didn’t have any huge pivots but I did have a time where my following dropped from 100,000 overnight. This happened after Google made some changes. They did not notify me AT ALL. 😱 I didn’t know why I had a sudden drop or what to do to fix it. I had to make a small pivot and take a look at where I was going. 💡 I thought about why I had started the blog in the first place. That is what inspired me to start my YouTube Channel. A lot of times people will just quit. This is where you don’t give up and accept defeat. You analyze where you are and where you want to be and you make a pivot. It doesn’t happen overnight. But don’t give up! Â
