0:00

So for me, passion and creativity

0:02

were a must. I knew that

0:04

I wanted passion, creativity, and I

0:06

wanted to work with cool people.

0:08

Like it really is part artistic

0:10

expression and part entrepreneurial expression. Being

0:12

a business owner and entrepreneur is

0:14

both art and business. Welcome

0:19

to the Bedros Coolian Show. What's

0:22

the difference between me and you? Me and

0:25

you. Back when Q was rolling

0:27

with Lorenzo and Abenzo, I was banging with a

0:29

gang of instrumental. I've always wanted to be insanely

0:31

rich and I wanted to have a great time

0:33

doing it. Hey guys, what's going on? Welcome to

0:36

the Bedros Coolian Show on Bedros Coolian. And

0:38

it's true that I've always wanted to be insanely

0:40

rich and

0:42

I wanted to have a fun time doing it. And

0:44

that's what this episode is all about. It's about the

0:46

people that are doing it. It's about the people that

0:48

are doing it. It's about the people that are

0:50

doing it. And that's what

0:52

this episode is all about. The only problem

0:54

is I hated my jobs. Now I've had

0:57

about three jobs. All three

0:59

of them I've been fired from. So I found out

1:01

early on in my life that I was unemployable. Now

1:04

before we kick off this episode though, I do want

1:06

to tell you guys about 74% of

1:08

you watching this right now are not subscribed

1:11

to the Bedros Coolian YouTube channel. So

1:13

if you're watching this on YouTube and you're not

1:15

subscribed, if you get any value from this episode,

1:17

please do me a favor and subscribe. Leave a

1:19

comment and hit that thumbs up button. It will

1:21

help the algorithm a lot in

1:24

pushing this content out to more people who

1:26

need it. And so again,

1:28

guys, part of it might be because I'm

1:31

an immigrant, right? I came to this country when

1:33

I was eight years old. We escaped Soviet Union, which was

1:35

a communist country. We didn't have a lot of opportunity at

1:37

all. And when we

1:39

came here, we're living in section eight housing. And

1:42

I remember getting government

1:45

cheese and government peanut butter and

1:47

using food stamps with my mom to go through

1:50

the grocery store. One of the

1:52

things that was most embarrassing about being broke for

1:54

me was the

1:56

fact that we would go through

1:58

the checkout line at the grocery store. grocery store and

2:00

we'd give them the food stamps and then

2:03

they would say, sorry, this brand name item,

2:05

like let's say it's Kraft macaroni

2:07

and cheese, sorry, you can't buy

2:10

this brand name item with your food stamps,

2:12

you have to go buy the store brand

2:14

or the lesser brand with food stamps. So

2:16

then we'd go and swap out the product,

2:19

right? We didn't know the language, we didn't

2:21

understand the culture, we were just trying to

2:23

get by. So being

2:25

broke, growing up in section eight housing

2:27

out here and seeing

2:30

that my family, we always ran out of money before

2:32

we ran out a month. Like that was a saying

2:34

that my dad had. That ended

2:36

up, I think, really making a mark on me

2:38

where I was like, okay, when

2:40

I grow up, I want to be

2:42

insanely rich. I don't want money

2:44

to ever be a problem in my life. Like

2:47

I saw my sister and many of you have

2:49

heard this story before, I saw my sister, she

2:51

had a job, this was probably three

2:53

years into us being here in the United States.

2:55

She had a job at this

2:57

pizzeria, she was working, you know, getting paid under

3:00

the table and apparently

3:03

the owner of this pizzeria was, let's just

3:05

say he was a creep, right? And so

3:07

he would make rude gestures to her, he

3:09

would unwelcome comments,

3:12

etc. And my sister would come home distressed

3:14

and crying to my dad. You know, my

3:16

sister was significantly older than me, she's 16

3:18

years older than me, so I was six.

3:21

So this was happening probably now by the

3:24

time this is happening, it's like two, three

3:26

years in, so I'm maybe eight or nine

3:28

years old and so she's in her 20s

3:30

and she's working as a waitress for like

3:32

chump change at a pizzeria

3:34

and this dude's just being completely

3:36

inappropriate with her. And, you know,

3:39

we needed the money so that we can get

3:41

into a nicer apartment

3:43

complex that wasn't riddled with cockroaches

3:46

and lice and fucking

3:48

gang bangers and shit that we had to

3:50

deal with. And so my dad was all

3:52

about, you know, everyone's got to work in

3:54

the family. If you're old enough to work,

3:56

like you got to work and my sister's

3:58

job was working as a waitress. She would

4:00

come home angry and sad and crying and distressed

4:02

about this whole thing because she wanted to quit

4:04

and my dad kept telling her like just one

4:06

more month, one more month, we need the money

4:09

from there. So I share that

4:11

with you because that made such an imprint on me

4:13

and I wanted to grow up

4:16

and find a way to

4:18

be insanely rich. Now obviously I didn't

4:20

realize that I wanted to be an entrepreneur

4:22

yet but I realized very quickly

4:24

once I was in my late

4:27

teens, early 20s that having a

4:29

job is not going to make me insanely

4:31

rich and I'm not necessarily having a lot of

4:33

fun doing it when I have a job. Yeah,

4:36

I had friends at my jobs like when I worked

4:38

at Disneyland or when I worked

4:40

at Broadway Bagel, right? A

4:43

lot of you know that I also

4:45

worked at a gay nightclub

4:48

where Oz in Boyne

4:50

a Park, California where I would constantly

4:52

find myself getting in fights with

4:55

skinheads and all the security guys like

4:57

us, like me would have to get

5:00

in fights in the parking lot with these skinheads

5:02

where they're at a gay bash. Like

5:04

I said, I got fired from all three of those jobs.

5:06

It wasn't something that I enjoyed and

5:09

the only job I guess I really didn't get

5:11

fired from that I fired myself was a personal

5:13

trainer at the LA Fitness in La Hopper, California

5:17

and that's because I had a mentor named Jim

5:19

Franco who was like, hey, why don't you open

5:21

up your own personal training studio and instead of

5:24

getting paid 12 bucks an hour to train clients

5:26

while the gym is making the lion's share of

5:28

the money from the personal training programs that they've

5:30

sold me because he was a personal training client.

5:33

He says, why don't you open up your own

5:35

personal training studio and I'll fund

5:37

you. I'll be your business partner and you know, you

5:39

can pay me back with interest and then we'll stay

5:41

business partners and I was like done, check. Now

5:44

again, I tell you I hated all my jobs because

5:46

I knew that they weren't going to give me the financial freedom

5:48

that I wanted. I knew that I wasn't going to be able

5:50

to just like go on a

5:53

random vacation for as long as I want and have

5:55

that vacation be the best type of vacation,

5:58

right? Like I'm talking like five first class. stay

6:00

at a five-star hotel or resort,

6:02

go during the peak seasons to

6:04

wherever Bali, Hawaii, New Zealand, right?

6:07

Everything I would hear from friends who

6:10

were starting to go on vacations, they're

6:12

flying a red-eye flight, they're connecting with

6:14

three different planes, they're going during the

6:16

off-season, they're staying in a

6:18

shitty hotel, right? And I was like, I don't

6:20

want that, man. Like, I've already kind of lived that

6:23

life when we first came to America. I

6:25

want to know how they're rich live. I want

6:27

to experience the freedom that comes with money. I

6:30

saw Jim Franco, my mentor, show

6:33

me how he's got freedom. I mean, this

6:35

dude would come in to the

6:37

gym to work out with me three times a

6:40

week at two o'clock in the afternoon, right? And

6:42

at the time I was in my mid-20s and

6:45

he was in his mid, probably early 60s,

6:47

I'd say 62, 63 years old.

6:50

And Jim was like, just had

6:52

this enthusiasm for life, a pep

6:54

in his step, and every day

6:57

he'd roll up in a different car and I'd

6:59

always look out the front doors to see like

7:01

which vehicle he's showing up with. And

7:03

he had this classic Mercedes and he

7:06

had this old hot rod. Actually

7:08

it was a, I think he also had a 64 Shelby

7:10

Cobra, like a replica, right? He had a Cadillac

7:13

Escalade that was champagne colored, it was beautiful. And

7:15

I was like, man, like this dude can leave

7:17

his work, come and work out with me at

7:19

two in the afternoon. And then I was like,

7:21

so Jim, you're going back to work? And he's

7:24

like, no, like my day's done. Now I

7:26

get to go home and relax and do

7:28

some meditation, et cetera. And I was like, how

7:31

do people live like this? And then one day he

7:33

invited me, Jim Franco invited me to his house in

7:36

Coyote Hills in the

7:39

really nice parts of Fullerton. Dude,

7:42

his house was on a hill and like you

7:44

could see the entire like skyline

7:46

from the windows and beautiful

7:49

pool and hot tub and lights and palm

7:51

trees. And I'm just like, how the hell

7:53

do people live like this? And so Jim

7:55

Franco really helped open up my eyes and

7:57

I realized that if I'm going to be

8:00

insanely rich and I am gonna have a

8:02

fun time doing it, I have to

8:04

start learning from this mentor and I have

8:06

to start getting other mentors. So I'm hoping

8:08

that on this episode here, I can mentor

8:10

you like Jim Franco has mentored me

8:12

and like all the mentors over the years that I've

8:14

gotten and I've paid for and got coaching from have

8:16

mentored me to allow me to be where I am

8:19

today, right? Like I'm so blessed and

8:21

grateful that I get to be the

8:23

founder of Fit Body Bootcamp with hundreds of our

8:26

gyms worldwide. Like that's a freaking

8:28

awesome feeling, truly supplements, right? We

8:30

now have sold over a million

8:32

of the truly wellness shots. Thanks

8:35

to all of you guys and gals who are using it. Fuel

8:37

hunt apparel, right? As soon as I took

8:40

equity in the company, it starts blowing up

8:42

and you know, Drew and Joey who started

8:45

the company, they're just constantly bringing

8:47

on new like influencers and UFC

8:49

fighters and athletes and the brand

8:51

just continues to grow and I feel like everyone

8:53

I'm in business with I'm having a good time.

8:55

They're making money and having a good time and

8:58

I've got the financial freedom. Now do

9:00

I have a higher level of stress in my life than

9:02

I did when I was an employee? Absolutely.

9:05

There's always going to be a trade off. So I want to let

9:07

you guys know like if you want to be an entrepreneur, you can,

9:10

but I would rather work 24 seven 365 on my

9:12

thing, on my terms in my business, then work nine

9:20

to five in someone else's thing, especially

9:22

if that someone else doesn't respect me

9:24

stifles my growth, doesn't create the opportunity

9:26

for me to move up. Maybe

9:29

doesn't have, there's no culture for me to

9:31

really blend in. I just feel like I'm

9:33

a cog in a wheel and whether I'm

9:35

here or not, they're just going to replace

9:37

me with someone else. That's how I

9:40

felt at all my other jobs. If you want to know

9:42

the truth. Hey guys, quick interruption to the Bedrose Coolian show.

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to love this product and you're going to tell

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all your friends about it. Now back to the

11:11

shit, honestly, like I was

11:13

like, this can't be all there is

11:15

to life. Like I can't be this guy

11:17

5 years, 10 years, 15 years

11:19

from now. There's got to be more. And

11:21

so as Jim Franco started to mentor me and I got

11:24

other mentors, I realized there's a lot more I could do.

11:26

First of all, I want to find businesses that I'm

11:28

passionate about. I want to create businesses that I'm passionate

11:31

about. So write that down if you're watching or listening

11:33

to this. Starts with passion. And

11:35

I know a lot of people out there and my

11:38

homie Grant Cardone has said this several times.

11:41

He's like, you can't find a business. You can't start a

11:43

business based on your passion. You have to start a business

11:45

that makes money. I beg to differ.

11:47

Grant, I love you to pieces but

11:49

I beg to differ because you can start a

11:51

business based on your passion because if you're passionate

11:53

about something, odds are people are

11:55

passionate about it too. There's others, probably thousands,

11:58

hundreds of thousands. who are just

12:00

as passionate about it or if you're

12:02

passionate about something, there's people who want to

12:05

know how to get into that space and

12:07

you could be the one that shows them.

12:10

So for me, passion and creativity were a must. I

12:12

knew that I wanted passion, creativity and I

12:14

wanted to work with cool people, right? I

12:16

didn't want to work with people who were,

12:18

you know, like boring or stuck

12:21

up or maybe didn't share the same values

12:23

as me. I was like, man, if I

12:25

start a business and I focus these businesses

12:27

based on the things I'm passionate about and

12:30

it allows me to experience and

12:32

really use my creativity, right? And

12:35

creativity in marketing, creativity in sales,

12:38

creativity in the product or the

12:40

service that I'm offering, like it

12:42

really is part artistic expression and

12:45

part entrepreneurial expression. Like being a

12:47

business owner and entrepreneur is both

12:49

art and business

12:51

and that's what I love about it. And when

12:53

you're surrounded by all the right people who share

12:56

the same values and yuck it up with you

12:58

and, you know, like earlier before the camera started

13:00

rolling, we're just laughing it up about some guy

13:02

that I killed. Jokingly, of course,

13:04

I didn't kill him. I just didn't like

13:06

this guy and he ended up getting sick

13:08

and dying and he was a really, really

13:10

big asshole anyway. It doesn't matter who he

13:12

is. There's only been one person in my

13:14

entire life who I really, really

13:17

didn't like. I would almost

13:19

use the word hate, right? Everyone's

13:22

laughing behind the cameras. I was like, Lauren literally

13:24

has her shirt over her face and then Leighton

13:26

over there. Like Ed is the only professional here

13:28

keeping a straight face. That's a professional right there,

13:31

Ed. You're a pro. Yeah.

13:33

Yeah. So with that said though, again, just for

13:35

the record, in case the coppers are listening, I did not kill anybody, but

13:38

I did dislike this person

13:40

a lot. And that's because he put a lot of

13:43

false information out on me on

13:46

this fake blog that he created and then

13:48

he used my client's names and went out,

13:50

went to like all these different sites and

13:52

put false reviews. And then we ended

13:54

up, obviously the jig was up and we ended up figuring out

13:56

who it was and how he did it and ta-da.

14:00

But then, boom, he died. So there you go. But

14:03

I share this with you because I wanted to work with

14:05

cool people. And I wanted

14:07

to make a lot of money and I wanted

14:09

to use my money for a lot of good.

14:11

And if you guys follow me for any length

14:13

of time, you know that I've paid millions of

14:15

dollars in donations to Shriners Children's Hospital and they

14:18

provide surgeries and medical services to kids whose

14:20

families can't afford it. And then

14:22

Toys for Tots, every Christmas we're buying

14:24

tens of thousands of dollars of toys

14:26

right before Christmas, right here at Target.

14:28

And then Toys for Tots hands those

14:30

toys out to kids right

14:33

before Christmas Day and they would have otherwise

14:35

not had any Christmas gifts to open, right?

14:37

Like how cool is that? And

14:39

then of course, Compassion

14:41

International, like, you know, I've got 97 kids adopted

14:43

through Compassion International and it

14:45

helps get them food and water and education

14:48

and, you know, school supplies and clothes. And

14:50

I think it's a cool thing, man. These

14:52

are like kids in third world countries who

14:54

are getting educated and who are

14:56

getting access to clean food and water because

14:58

of my contribution. Like that feels good. I

15:01

felt like as an employee, I couldn't do

15:03

this. Now some of you are like, hey,

15:05

man, I enjoy being an employee and that's cool. That is

15:07

awesome. And if you work in an environment like we

15:10

have here, guess what? As long as

15:12

you perform, you have room to grow. As long

15:14

as you're cool, like everyone else is cool with

15:16

you. Like we're all savages. We get after it.

15:18

We yuck it up and we laugh about things.

15:21

And then when the cameras start rolling, boom, everybody

15:23

gets serious and then we get to work, right? Clients

15:25

are here, boom, we get to work. So you

15:28

can have fun and make a lot

15:30

of money. Anyone that tells you

15:32

that entrepreneurship should just be a grind is

15:35

full of shit or they're just doing it

15:37

wrong. Like when I think about all my coaching clients, one

15:39

of the domination of your coaching program, right?

15:41

Some have supplement companies, apparel companies, software companies,

15:45

concrete refinishing companies. Some

15:48

build giant mega like those

15:50

Amazon and Walmart mega warehouses.

15:53

Those are coaches and consultants. They

15:56

all have great organizations with awesome people and

15:58

they're all making good money. money doing it,

16:00

right? And so you have

16:02

to understand that if you are not doing

16:05

something because you're passionate about it, when the

16:07

going gets tough and the going will get

16:09

tough, guys and gals, in any kind of

16:11

business, like it doesn't

16:13

matter what the business is, when the pandemic

16:15

hit, for the most part,

16:18

all businesses like

16:20

started to suffer, started to struggle, started

16:22

to lose clients, started to lose money,

16:25

right? But if you're in

16:27

that business because it's a passion project for

16:29

you, you're going to stay in the fight

16:31

when the going gets hard. But if you're

16:33

in the business because, hey, it makes money,

16:36

many of you are too young to remember this, but in 2004, 2005, 2006, everybody

16:38

and their mom was a real estate agent

16:43

and they were all getting into real estate

16:46

because like the housing

16:48

market was blowing up. It was exploding, right?

16:50

Like you could buy a house today and tomorrow was worth like $100,000

16:53

more. Well, maybe not that

16:55

much, but you get the point I'm saying, like everybody was

16:57

a real estate agent. The economy

16:59

crashed in late 2007, early 2008, like there

17:01

was a thinning of the herd because they

17:05

were not in it. Majority of them were not in

17:07

it for the passion of

17:10

real estate. They were in it for the

17:12

fast cash of being a real estate agent

17:14

and making money during this peak season. And

17:17

so when things got tough and this is their

17:19

only source of income, they realized very quickly that

17:21

they have to go be a bartender, a server,

17:23

a whatever else because they don't have the passion

17:25

to stand the fight. The

17:28

five, 10 or 15% of the real estate agents in that

17:30

time in 2008, nine, 10, 11 who did stay

17:34

in the industry, shit, those were the ones

17:36

who were like passionate about the industry. They

17:38

stay in the industry, whether it's contracting or

17:41

expanding because they are passionate about real estate.

17:43

They wake up excited and enthusiastic about it.

17:46

To them, it's as much creativity as it

17:48

is business and that's what I want for

17:50

you and the people they work

17:52

with, they love, right?

17:54

Whether it's the mortgage people or

17:56

the loan officers or their fellow

17:58

agents, that's what looking for.

18:00

So understand that if it's not

18:03

a passion-based business that is

18:06

allowing you to exercise creativity and

18:08

serve humanity by solving a problem

18:10

with your product or service in

18:13

exchange for money, then what

18:16

you're really doing is you're chasing money but at

18:18

some point the going will get tough and when

18:20

it does, that's when you're going to regret it

18:23

in terms of getting into an industry that you're like,

18:25

man, I got into an industry because the money was

18:27

good but now that the economy has shifted or the

18:29

industry is trying out, I need to figure out what

18:31

to do but my life expenses are so high, now

18:34

I got to sell off cars and sell off homes

18:36

and I don't want that for you. I don't

18:38

want that for you. So

18:41

then, what do we do?

18:43

Well, if you're starting a

18:45

business and you want to get rich and

18:47

have a fun time doing it, understand you

18:49

have to be able to create a business

18:51

that creates multiple income streams, right? Multiple income

18:53

streams and I

18:55

don't want to use my businesses because well,

18:58

Leighton and the team have told me many times that

19:00

they're like, sometimes people can't relate to you B because

19:03

you've been doing this for 25 years

19:05

now and where you

19:07

are, people can't see how they can get

19:09

there. So, I'm going to use, let's

19:11

say, a fit body boot camp owner, right?

19:14

Someone that owns one of our fit body boot camp

19:16

franchises anywhere in the

19:18

world. So, imagine this, they open

19:20

up a fit body boot camp and we

19:22

teach them how to obviously find a location,

19:24

build it out, hire a staff, run the

19:26

training programs, etcetera. And typically, a fit body

19:28

boot camp might charge $199 a month for a all you can train

19:34

membership, right? You come in, you do group training

19:36

workout and you're having an awesome

19:38

time doing it. And those workouts are,

19:40

you know, like we run anywhere from five

19:42

to seven workouts a day and they're run

19:44

six days a week. So, you're definitely going

19:46

to find times to work out. Well, that

19:48

fit body boot camp location over like a

19:50

12 month period or so might end up

19:52

having anywhere from 250 to 350 clients that

19:55

are paying $199 a month, which

19:59

is awesome. right? Great. And that's on a

20:01

subscription which we'll talk about here in a

20:03

minute. So now we got

20:06

that owner in any town USA running

20:08

a Fit Body Bootcamp with let's say

20:10

an average of whatever 300 clients and

20:13

they're making $199 a month. Well, that's one income stream. But

20:18

remember I said you got to have multiple income streams. Now

20:21

imagine if that same owner decides to open

20:23

up a Fit Body forever. So

20:25

think of this, if you ever walk into a grocery

20:27

store and you see a business inside of a business

20:29

like you see a Starbucks inside of a grocery store

20:31

and you're like, oh, that's interesting. Starbucks opened up a

20:35

location in this target or in this

20:37

grocery store. Well, believe it or not,

20:39

that grocery store, that target makes

20:41

money from that Starbucks. And

20:44

the way they make money from that Starbucks

20:46

is because there's a revenue share opportunity, right?

20:49

And sometimes the grocery stores actually end

20:51

up owning that entire Starbucks.

20:54

And so they might own the business in

20:56

a business or the bank that's into the business. They

20:58

don't own the bank, but they get some kind of

21:01

rent that they charge or revenue share, right? And

21:03

so when you look at it that way,

21:05

a Fit Body Bootcamp, yeah, charges $199 a

21:07

month. But then if the franchisee

21:10

of ours opens up a Fit Body

21:12

forever, which is our aging

21:14

adults program, right, that we do in the middle

21:16

of the afternoon and we're not running any training

21:19

sessions, guess what happens there? Now,

21:22

we might have another 75 or 100 clients who are baby

21:24

boomers or aging

21:28

adults. And these

21:30

baby boomers and aging adults pay an additional

21:32

fee, right, to work out there.

21:34

So now that location is making more money. And

21:37

let's say that that location also starts selling

21:39

truly supplements, right? They buy it wholesale, they

21:41

sell it for retail. Now that becomes a

21:43

third income stream. And let's

21:46

say that location also starts doing our

21:48

custom nutrition app, what we call Fit

21:50

Body Plus. So now they're training and

21:52

working out and getting results, but they're

21:54

also now doing a monthly coaching session

21:57

to dial in their macros and, you

21:59

know, eat in a way using

22:02

the app that we've developed and the coaching

22:04

that we give them to help them burn

22:06

fat and build muscle even faster, right? And

22:08

that's an additional $49 a month. So

22:11

look at the four different income streams that

22:13

that Fit Body Boot Camp location has, right?

22:16

Now, you're thinking like, okay, that's cool, four different

22:18

income streams. Well, I also have to let you

22:20

know that even though that's a

22:22

brick and mortar gym, right? And this can work with

22:24

any gym by the way. I'm just using Fit Body

22:27

Boot Camp as an example because I know our metrics,

22:29

I know our numbers, I know what we do

22:31

and how we do

22:33

it. Now, you got to remember when we're

22:35

opening up a Fit Body Boot Camp location

22:37

months before the doors open, we're already teaching

22:39

these owners, these franchise owners to start marketing

22:42

and we're helping them market and drive leads

22:44

from Facebook, Instagram, social media, YouTube, Google, right?

22:47

And so they might have an email list of 2,000,

22:49

3,000, 4,000 local people, but of that email list

22:54

of 2,000 to 3,000 people, they might have

22:56

250 to 350 clients who are actively working out

23:01

there. So what about all

23:03

those other people, the thousands of other

23:05

people on their email list that have

23:07

shown interest in burning fat and

23:10

putting on muscle, but really

23:12

never signed up at Fit Body Boot

23:14

Camp. Maybe they're intimidated through by

23:17

doing a group training program, maybe all

23:19

the different workout times just didn't

23:21

work with them, right? Maybe

23:23

the location is just far enough where they're like,

23:26

ah, you know, they're like seven miles away and

23:28

if it was five miles away, I would go.

23:30

Well, those people who are on the email list

23:32

of that Fit Body franchise owner, right? Those

23:35

people can now still benefit if

23:37

that Fit Body franchise owner decides to do some

23:39

kind of online coaching because through

23:42

online coaching, they can serve those people

23:44

without having to bring them into location. So

23:47

there's a fifth income stream, right? And

23:49

also those people on that email list would

23:52

also buy the Trueling supplements

23:55

when that franchise owner uses

23:57

their custom affiliate

23:59

link. and sends out an email

24:01

and says, hey, you might want to consider

24:04

getting this wellness shot or this plant-based protein

24:06

or this grass-fed protein or the greens, right?

24:09

And so when you start thinking about

24:11

all the different ways you can create multiple

24:13

income streams, you're like, holy hell, I don't

24:15

just have to have one product for one

24:18

fee, right? In fact,

24:21

Operation BlackSight. Operation BlackSight

24:24

is a really cool experience that

24:26

myself and Dan Fleischman run for

24:28

entrepreneurs and we do it with

24:30

Tim Kennedy. He runs the

24:32

entire pistol training and

24:35

shoot, move, communicate portion of it. And

24:37

Michael Chandler, who by the way, big

24:39

shout out to Michael Chandler, he will

24:41

be fighting Conor McGregor, June 29th,

24:43

UFC. That's

24:45

gonna be a great fight and I will be

24:47

there and it'll be an awesome, awesome fight. But

24:50

Michael Chandler runs the hand-to-hand combat portion of it,

24:52

right? And then of course Dan

24:54

and I teach entrepreneurship, et cetera. So we

24:56

bring in male and female entrepreneurs and we

24:58

have a three-day experience where they're having an

25:00

awesome time learning to use pistols and their

25:02

hands and grappling, et cetera, and then of

25:05

course during the lunches and dinners and breakout

25:07

sessions, we're teaching entrepreneurship and bringing in guest

25:09

speakers, et cetera. But at

25:11

these Operation BlackSight meetups,

25:15

most recent one, this gentleman stood up, he had a question, right?

25:17

We had rung little hot seat sessions and he's like, all right,

25:20

so here's what I do. I

25:22

have a crew that goes in there instead

25:24

of cleaning offices. He goes, just imagine like

25:26

people that clean offices but instead of office

25:29

cleaners, my crew cleans restaurants. My

25:31

crew cleans and maintains the refrigeration, the

25:33

ovens, the burners, all the different equipment

25:35

in restaurants. We maintain and clean every

25:37

night. I'm like, okay. He goes, I

25:39

wanna know if it's franchisable. I said,

25:42

well, the first thing you need to

25:44

look for, if you're trying to franchise

25:46

any business, is how

25:48

many income streams can you create

25:50

for your franchisee? The person

25:52

who's gonna have that local business, let's

25:54

say I wanna become one of his

25:56

franchisees here in the Orange County area

25:58

of Southern California. Well,

26:01

I don't want to just have one fee where

26:03

I get paid, let's say, whatever, $500 a

26:05

month to go and

26:07

clean up a restaurant every night. Maybe

26:10

it's $500 a night but then maybe there's

26:13

an add-on fee for fixing

26:16

the equipment, right? Like if you

26:18

want us to also check the equipment and fix it so

26:20

we don't have to call a repair man, we'll just do

26:22

it because we've got competent people who are trained, that's an

26:25

additional fee, right? And then maybe

26:27

I said you might have like this really

26:29

like deep cleaning service where, hey, once a

26:31

month or once a quarter we do a

26:33

deep cleaning service where we're there for like

26:35

six hours at your restaurant, not just two

26:37

hours cleaning everything but six hours. So

26:39

when the health department comes and they do that white glove

26:41

test, like this thing

26:44

is deep cleaned, you know, all the

26:46

crevices underneath, up top, everywhere, right? He's like,

26:48

holy hell, I go that could be like

26:50

the premium service, right? And he goes,

26:52

I never thought of that. I go, now

26:54

right there you've got a multiple

26:58

income stream business that you

27:00

can replicate across the country in terms

27:03

of giving out territories and having franchisees.

27:06

And you're more likely to sell these locations

27:08

because it's not just a one-off

27:10

income stream, it's multiple income streams. And

27:13

so whether you are creating multiple income streams

27:15

from one business, guys, or you are creating

27:17

multiple income streams by having multiple businesses, right?

27:19

So when we come back to me for

27:21

a moment, all

27:24

of our franchisees pay a royalty, right?

27:26

A royalty to Fit Body Bootcamp, a

27:28

percentage or a flat fee of

27:31

their monthly gross revenue. So that's one income stream

27:33

that comes to HQ. We

27:35

also have a separate company called TruLean Supplements.

27:37

You guys know about this. The

27:40

flagship product is the Wellness Shot. It's like

27:42

a full-on supplement company from protein to greens

27:44

to hydration to everything. That's

27:46

another income stream, right, for me. We

27:49

also have Fuel Hunt. I'm now a

27:52

partner, a co-owner of Fuel Hunt, right?

27:54

It's another income stream. I also have

27:56

Coaching and Consulting Services. That's other income

27:58

streams for me. I've also

28:00

invested in crypto and in real

28:02

estate and the cash flow from

28:04

it is income stream for

28:06

me, right? And knowing that

28:08

I've got a diversified income stream helps

28:10

me sleep well at night. And

28:13

if you think about all those things that I

28:15

just mentioned, they're all things that I love. Like,

28:18

I love real estate. I really believe in

28:20

crypto because I believe it's the best way

28:22

to have like decentralized access

28:25

to money without big government trying to control it.

28:27

So I get it, they are trying to control crypto

28:29

as well. But it's a great

28:31

way to hedge your bet against

28:33

the dollar, right? And

28:36

since you guys know that I'm against big government

28:38

and that I would rather have the citizens have

28:40

control of their money, have control of their destiny,

28:42

have sovereignty, crypto speaks to

28:44

me, right? And whether it's going

28:46

up or down, I do dollar cost averaging. I'm

28:48

constantly investing in crypto and thankfully

28:51

in the long haul over the years, I've

28:53

done really well with it. And

28:55

so with having multiple income streams from

28:57

businesses, with having multiple income streams from

28:59

investments, I sleep better at night. And

29:01

I put myself in a position where

29:03

if one business isn't doing well because

29:05

of economy or a season

29:08

or a maybe a

29:10

downturn in the industry, then I have other

29:12

income streams that are still going to do

29:14

well for me where I don't have to

29:16

feel like I'm being pinched

29:19

financially. So if you're creating a

29:21

business, one, make sure it's a

29:23

passion-based business, allows you to create

29:25

and utilize creativity, put yourself

29:27

in a position that you can work with the kind of

29:29

people that you love and that you would connect with because

29:31

you're going to be doing this like 24-7, 365, right? When

29:34

I say 24-7, 365, that doesn't mean

29:36

you're going to be working around the clock 24-7, 365,

29:40

but make no mistake about it.

29:42

Your brain is constantly going to be thinking about

29:44

your business. If you have kids

29:46

like I've got Andrew and Chloe, like

29:49

one's 18, one's 16, my brain, it's

29:52

a part of my brain that's always thinking about them. I

29:54

just love them to pieces. I'm grateful to have them as

29:56

kids. They're just awesome and amazing. I always wonder what they're

29:58

doing and I'm checking them out. checking in on them and

30:01

it's cool to see them grow up and you know,

30:03

whether I saw them in the morning or I see

30:05

them in the evening or I'm going to a game

30:07

with them or me and Andrew are working out, I

30:10

can't get enough of my kids. Like you're

30:12

never going to get enough of your business

30:14

because it's your baby, right? So if it's

30:17

your baby and all the people

30:19

that work in it are pretty much

30:21

like your family members except this is

30:23

the one time where you can actually pick and

30:25

choose your family members. You might

30:27

as well pick and choose the family members that you

30:29

jive with, you connect with, you

30:31

have some values, core values with, right?

30:34

And that's what people forget. And

30:36

if you guys all jive and connect and have core values,

30:39

that business is going to be more successful. Now, what

30:41

is the next thing I want you to do in

30:43

addition to multiple income streams as you're creating your business?

30:45

I also want you to have subscription,

30:47

recurring revenue because

30:52

if you have subscription in your business, recurring

30:55

revenue, that gives you the peace

30:57

of mind that you're starting off the month knowing

30:59

that X number of dollars are scheduled to come

31:01

in. If you

31:03

have a business where every month you start at zero,

31:05

right? The first of the month you start at zero

31:07

and you have to sell X number of widgets or

31:10

X number of coaching programs or X number of apparel

31:12

or supplements, that's

31:14

a lot of pressure. That's a lot of

31:16

pressure. And so all of a sudden

31:18

you find yourself like, oh man, it's the first of

31:20

the month, I need to make more money, I got

31:23

to be out there hustling and selling. Not that you

31:25

wouldn't otherwise, but it doesn't feel great to know that

31:27

every month there's like recurring payments coming in, right? When

31:29

you think about how we sell the Trueline Wellness Shot,

31:32

like right on this episode, we

31:34

run a little baked in ad for the

31:37

Trueline Wellness Shot, right? Use my code,

31:39

Bedros, to get 50% off. You get

31:41

unconditional 30 day money back guarantee if you don't like

31:43

the product. You get free

31:45

shipping and a dollar of every order goes to

31:47

Shriners Children's Hospital. If you decide to

31:49

stay past day 30, then every month

31:52

we ding your credit card, you get an additional 20% off

31:55

free shipping and a dollar continues to go to

31:57

Shriners Children's Hospital every month. Like that's

31:59

an awesome. some offer that we make and

32:02

we've got thousands of people

32:04

worldwide on the

32:07

Trulien Wellness Shot on the

32:09

Trulien Tribe subscription program. And

32:12

I'm on a bunch of subscription programs ironically

32:14

and the Wellness Shot. Of course,

32:16

I don't have to pay because I'm the owner

32:18

but you get what I'm saying because if I'm

32:21

using something on a regular basis, whether it's a

32:23

product or a service, I want you to make

32:25

my life easier and put me on subscription. So

32:28

the customer's benefit is that you've made my life easier

32:30

and more efficient. I don't have to go like, oh

32:32

shit, I'm running out, I need to order. Now I'm

32:35

going to go three, four, five days without your product

32:37

or service, right? And then

32:39

you as the entrepreneur, you're going to go, oh shit,

32:42

this is awesome. I've got thousands of people who are

32:44

paying me X number of dollars every month. So

32:46

I know that next month, I already start the month with

32:50

X number of dollars scheduled to come in and that is

32:52

a damn good feeling. That also does

32:54

something else for your business. When you have recurring

32:57

revenue in your business and in

32:59

that same business, if you have multiple income

33:01

streams like the Fit Body Bootcamp location that

33:03

I described, recurring

33:05

revenue, which is also

33:08

known as MRR, monthly recurring revenue

33:11

and multiple income streams in a business, increase

33:14

the valuation of that business. What that means

33:16

is down the line is you go to

33:19

sell your business, you will get more money

33:21

for it than if it's a transactional business,

33:23

meaning every month you started zero and you

33:25

have to sell X number of widgets to make $20 million,

33:27

right? And so if

33:29

there's two businesses and they're both making $20

33:31

million a year, one of them is based

33:34

on transactional business, right?

33:36

Where each time the credit card has

33:39

to be given or inputted and

33:41

a sale has to be made every month and then 12

33:43

months later you made 20 million or you

33:45

sell once and then you get clients on

33:48

a monthly recurring subscription, the

33:50

business that's doing 20 million a year in revenue

33:52

that has got a built-in subscription model will be

33:55

worth more when you go to sell it and

33:57

you'll make more money for it in the sale.

34:00

not do that. It creates convenience

34:02

for your customers and it creates

34:04

consistency for you as the entrepreneur.

34:06

You get what I'm saying? Alright,

34:08

cool. So, now if

34:11

I know that I have multiple income streams, I have recurring revenue,

34:13

it's a business that I can sell, it's

34:15

based around the things that I'm passionate about and

34:17

that allows me to exercise my creativity,

34:19

like holy fuck, this is really rad.

34:21

I can have an awesome life and

34:24

if I did my job right in

34:26

terms of marketing this thing, then I'm

34:28

going to make a lot of money and have awesome experiences

34:30

and be able to help out charities and the church that

34:32

I go to and the causes that I believe in and

34:34

the people that I want to help. And

34:36

so, let's talk about that. And

34:38

I've got a whole episode on scaling your business. You

34:40

guys can go back and find that episode. But

34:44

we're scaling your business is concerned, you're going to have

34:46

to one, have to come up with an irresistible offer.

34:49

Like the best irresistible offer I can describe to

34:51

you is the one that you see right here

34:53

on this episode which is a Trulian Wellness Shot,

34:55

right? We're giving you 50% off.

34:58

We lose money each time we

35:01

give you that offer for

35:04

the first time, right? So, each time you got a first

35:06

time customer, we lose money. We're giving you 50%

35:08

off, we're paying for shipping, a dollar goes to Shriners. But

35:11

we know that you're going to love the product so much, you're

35:13

going to feel the difference that when you continue to use it

35:15

and you continue to get 20% off

35:18

every month after that, then we

35:20

start making money. So, we start making money at

35:22

month number two at Trulian assuming that you stay

35:24

on board, right? And if you stay on board

35:26

and you stay on board for months and you

35:28

start like enjoying the product

35:30

and you use more of our products,

35:32

now Trulian starts having multiple income streams

35:34

from you as well. You get the

35:36

benefits and the results and then we

35:39

get the revenue and when you as

35:41

a customer. So, understand that's a really

35:43

cool thing. An irresistible offer has to

35:45

be something that is a no-brainer offer.

35:48

Like someone will have to go, I must be stupid

35:50

if I don't take this offer, right? It doesn't

35:53

matter if you have a service, if you have

35:55

a product, if you have a apparel. Like Fuel

35:57

Hunt now offers a hundred day. Get

36:00

the shirt wear the shirt for a hundred

36:02

days. If you don't like it, send it back We'll

36:04

give you your money back like that's a

36:06

pretty damn good irresistible offer, right? Like shirts

36:09

that are made in the United States dirt to

36:11

shirt With a hundred day

36:14

money back guarantee like you know, the quality

36:16

is good workmanship is good fit and finish

36:18

is good you're gonna get compliments on it

36:20

because there's no way people hunt would offer

36:23

a hundred day guarantee if Everything

36:25

was not perfect about it, right? And

36:27

so that's an irresistible offer if you're willing

36:30

to make an irresistible offer You're already gonna

36:32

start kind of growing your business. The next

36:34

thing is can you make that offer through

36:36

ads? can you can you

36:38

throw money at your offer

36:42

your ears little offer to Catch

36:45

it on fire and get it to reach more

36:47

people and The way

36:49

you throw money is through the Facebook ad

36:51

center or the meta ad center You can

36:53

run ads on Facebook Instagram tick-tock, right? YouTube

36:56

Google search. I mean Anywhere

37:00

you can start any any platform

37:02

out there Twitter will allow you

37:04

to run ads you can run ads anywhere

37:06

And if you can find the right market

37:09

In other words the right demographic your ideal demographic who

37:11

wants to buy your product and use it Because

37:13

you have the solution for them and they have

37:15

the problem and they also should have money So

37:17

that they can give you their money in exchange

37:20

for solving that problem Now

37:22

when you throw money at it your solution

37:24

and your irresistible offer is shown to them

37:26

But in addition to the irresistible offer you

37:28

also have to be able to differentiate if

37:30

you cannot differentiate your offer From

37:33

someone else that has a similar product or service

37:35

Then you're just going to be in the

37:37

what's known as incestual marketing. It's like yeah,

37:39

well, we're the best Well who says we did?

37:41

Well, is there no proof of that? Is there

37:44

no is your product easier to use? Does it

37:46

get faster results? Is it lighter

37:48

in weight if it's a pair

37:50

of shoes or a backpack or

37:52

whatever? Like what is the point of

37:54

differentiation? So irresistible offer plus points of

37:57

differentiation plus ready for this social

38:00

proof testimonials of people that have used it,

38:02

who love it and want to rave

38:04

about it, that increases

38:06

the likelihood of those ads getting clicked

38:08

and of course people buying and using

38:10

your product or service. Okay, now you

38:12

got that. Great. So ads

38:14

are away. What's the other way? Referrals.

38:17

Referrals. You've got to encourage

38:19

your clients and customers to become evangelical about

38:21

your product or service and

38:24

if they become evangelical, in other words, they're

38:26

like, man, this product over delivered, exceeded my

38:28

expectations, solved my problems. I love it. I

38:30

love the customer experience. I love the journey.

38:33

Everything about it, I love, I love, I love. If

38:35

your product is that good, then you should have

38:38

a system, a process in place where you reach

38:40

out to customers and clients and go, hey, we

38:42

know you love our product. We know it's an

38:44

awesome experience. We know it solved your problems. So

38:46

here's what we're going to offer you to tell

38:49

your friends, family, coworkers about us so

38:51

that you can grow through referrals because

38:53

referrals are the easiest leads

38:56

to close and convert, number one,

38:59

and they come to you at the lowest cost. You

39:01

might spend $40 to acquire a new customer

39:04

using paid ads. You might spend,

39:06

you might give a client a $15

39:09

Amazon card if they refer a

39:11

friend who ends up being a customer for you,

39:13

right? Now, do I want to spend $40 on

39:16

a cold lead that took forever to close or

39:18

do I want to spend $15 to a customer

39:20

or client of mine who referred a friend? Like

39:22

it's a no-brainer and that friend is going to

39:24

be way easier to close. So make

39:26

referral giving a byproduct of doing business with

39:28

you. Like don't let it be organic. Like

39:30

create a process for referral giving that will

39:32

help you scale that business. And what is

39:35

the other thing? The third component

39:37

to scaling that business that you're so

39:39

passionate about and love doing is

39:42

influencers, right? And content creators. If you

39:44

ask yourself who already has my future

39:46

customers and clients, they're going to go,

39:48

oh my God, that YouTube channel does,

39:51

that Instagram page does, that Facebook group

39:53

does, that podcast does, and

39:55

then you reach out to those content

39:57

creators and influencers and you make them

39:59

an awesome. offer and say, look,

40:01

here's a discount code and we'll pay you X amount

40:03

of dollars to promote this or each time the discount

40:05

code gets used, you got a 10, 15, 20% commission

40:07

from our thing

40:09

because if other people or platforms

40:12

already have your customers, you would

40:14

be doing yourself a disservice trying

40:16

to just grow your brand through

40:19

your own content creation. And that's a big mistake a lot

40:21

of you make is you go, all right, I'm going to

40:23

create a lot of content and I hope some of this

40:25

content pops off and goes viral and if it does, then

40:27

I'm going to make myself a lot of money. Well, dude,

40:29

I want that for you too. But the

40:32

likelihood of having content popping off left and right

40:34

to go viral where you have a big enough

40:36

audience where you can scale your business, eh, not

40:39

likely to happen pretty quickly. It can

40:41

happen over time, but it's not going

40:43

to happen pretty quickly. Content and collaboration,

40:45

you creating awesome content and hoping that

40:47

some of it goes viral plus collaborating

40:50

with an army of other content creators

40:52

and influencers who have your future clients

40:54

and customers, that is

40:56

what is going to help you force multiply your

40:58

growth, scale your business and all of a sudden

41:01

people are going to go, well, I trust this

41:03

person. And so if this person that I watch

41:05

or listen to is using this

41:07

product, then I'm going to use it too. That's

41:09

how you end up growing this thing, right? So

41:12

once you've done that, then what? Well, then

41:15

longevity is you need to grow your personal

41:17

brand. If you can grow

41:19

your personal brand like long-term, now you

41:22

can start acquiring other companies as well.

41:25

For example, I did not start Fuel Hunt.

41:27

I actually wore the brand. I

41:29

was a customer before I was ever an investor in

41:31

it. Right. And as I got to

41:34

know Joey and Drew, the founders of Fuel Hunt,

41:36

I was like, man, I love these two guys.

41:38

They have great energy. They're awesome humans. You

41:40

know, the products like, like right

41:43

there in Philadelphia where, where the United States

41:45

was found and

41:47

these guys like live

41:50

and breathe their mantra.

41:52

Everybody wants to eat, but Fuel Hunt

41:54

like I fucking jive with that. I

41:56

connect with these guys. So I love

41:58

the guys. Number one. I love

42:00

the product, number two. And my third

42:02

criteria, if I'm gonna go in business

42:04

with someone is, do I have the

42:06

following on my platform

42:09

or platforms to be able to

42:11

pour gasoline on the fire if

42:13

I'm able to get equity in the business? If

42:16

the answer is yes, I like the product, yes, I like

42:18

the founders, and yes, I've got

42:20

the following, then I will go into

42:22

business because now I can take equity

42:24

in the company and I can

42:26

help them grow faster than ever, right?

42:29

And so understand that when

42:31

you become a personal brand and you have

42:33

a big enough following and you have a

42:35

lot of influence, you can now start leveraging

42:38

other companies. Why would I start an apparel

42:40

company when I love this brand and

42:43

I wanna go into business with them? Well,

42:45

they're like, hey, B seems kinda cool, pretty

42:48

handsome kinda dude, he

42:50

has the audience and

42:53

he likes us and he wears

42:55

our product, let's go into business with him. And that's how

42:57

that happened to go. And so understand

42:59

that when you become a personal brand, another

43:02

shift happens because if you have

43:04

your own product or service, understand that

43:06

first people will buy what you sell, right?

43:08

They're gonna buy what you do, they're gonna

43:10

buy what you sell. As you build your

43:13

personal brand, they buy who you

43:15

are, that's the difference,

43:17

right? So if you just have a product or

43:19

service, people will buy what you do because they

43:21

wanna get the solution to the problem. But

43:24

when you become a personal brand, you can charge

43:26

more and you can close more deals and

43:29

you have more opportunities and you can sell for a

43:31

higher price, you have less buyer's

43:33

resistance when you're a personal brand, you're known, liked

43:35

and trusted, right? They see you as a friend,

43:38

you come with a giving hand and put out

43:40

a bunch of content for free, you add value,

43:42

the Goodwill bank account is stacked up in

43:45

your favor. Now you're a personal

43:47

brand, you can now sell

43:50

your product because of who you are and not

43:52

so much of what you do, right? And that's

43:54

a really good advantage to have. And if you

43:56

can do that, you

43:58

have now created a business. where you

44:01

can get insanely rich, multiple income streams,

44:03

recurring revenue, you

44:05

got a business that one day if you wanna sell, you

44:07

can, right? Which is a

44:09

really cool thing. You're solving problems for people, you

44:11

know how to scale it, you're working with awesome

44:14

people who you share core values with and you

44:16

wanna hang out with and so that's a cool

44:18

thing as well. And best of

44:20

all, you get to donate money and give,

44:22

I don't know about you, but I love

44:24

using my money for good and kindness. And

44:26

if I can give my money to Shrine

44:28

of Children's Hospital, Coise for Tots, Compassion International.

44:31

Recently a friend had a car

44:33

accident and they started GoFundMe account

44:36

and I contributed

44:38

handsomely to that because I can.

44:41

I've put myself in a financial place so I

44:43

can serve people with it, right? And that's a

44:45

damn good feeling. So that is

44:48

the formula for you to become an

44:50

entrepreneur that's actually successful, getting insanely rich,

44:52

having a great time doing it and

44:54

best of all, serving humanity with it.

44:56

Now I wanna remind you that Bed

44:59

Gross Coolian Live takes place in beautiful

45:01

Scottsdale, Arizona, September 13th and 14th. I

45:04

hope that you will come out. There's a link in the

45:06

description box, both on the podcasts

45:08

and on YouTube. And of course,

45:10

if you are Australian, you

45:13

can come join me at the Rise

45:15

to Greatness Tour, July 18th, 19th and

45:17

20th in Brisbane, Melbourne

45:20

and Sydney. July

45:22

18th, 19th and 20th, that's coming right up. Again,

45:24

Rise to Greatness, look that up and I want

45:26

you to join us out there if you're in

45:28

Australia. It's my first visit to

45:30

Australia and I'm really looking forward

45:32

to that. And friends, remember this, don't

45:34

ever think that money, by the way, is

45:36

the enemy. Money is not the enemy. Average

45:40

is the enemy. Success is your

45:42

responsibility and change can take place

45:44

in an instant if you

45:46

are willing to flip the switch. I'll see you

45:48

all next time. What's the difference between me and

45:50

you? And you, and you. Backward

45:53

improves. Whether you want a piece ofUS

45:55

or you demand a belt. you