welcome to another edition of the ass
every show this is episode number six
and I’m here to answer your business
questions to help your company grow so
let’s kick it off first up is Shannon
Shannon rights in she’s from my
newsletter list sure I didn’t say Evan
thank you I’ve been told on more than
one occasion that I’m not asking what
I’m worth I had a publishing company for
seven years but I never got to the point
of taking a salary because I wanted to
offer my authors twice the royalty of
standard publishers now that I’m working
as a freelance editor and blogging
specialist I’m really having a hard time
asking for what I believe are morph I
work in the sewing industry with a lot
of stay-at-home mom so I find myself
empathizing with their situations and
lowering my prices to not offend anyone
my father told me a couple years ago
that I was afraid of money I’m starting
to believe that maybe he was onto
something I always feel like I’m caught
somewhere in between my dreams of
success and not want to take advantage
of others my question do you have any
suggestions on how i can value my
services properly and not feel guilty
you Thank You Shan Shannon ah I really
feel for you because I feel I feel the
love in what you’re doing I feel the
passion in what you’re trying to
accomplish but you definitely have
issues around money and and the mindset
of an entrepreneur and I mean I have an
entire zucca guide on on mindset i
haven’t make sure you have the right one
and what to do but for this case look at
some of the things you’re saying okay
you find yourself empathizing with their
situation and lowering your prices it’s
okay to emphasize with people right
that’s that’s great that’s an amazing
skill to have but that doesn’t mean you
have to lower your prices you say you’re
lowering your price is to not offend
anyone like being charged what your
worth is going to offend somebody right
they may not be able to afford you and
that’s this a lot of people can’t afford
what I do but I don’t believe that my
prices are offensive right and so that’s
right just in how you use your language
right there you’re you’re limiting
yourself you believe that by having a
high price is going to offend people
it’s going to make it hard for you to
ever be charged what you’re worth then
you ask
how can I value my services properly and
not feel guilty like you should feel
guilty for getting what you’re worth
right value your services properly makes
you feel guilty so that means you’re
never going to value services properly
what you first have to understand is
that you are adding a lot of value to
somebody’s life right you’re helping
make their lives or their businesses
better you have to really truly fully
believe that until you do you’re not
gonna be able to charge that next level
of pricing you’re not gonna be able to
charge five times what you’re currently
charged you’re never going to be charged
with your work so it starts it starts
with yourself understanding that you add
value that you are worth something I
don’t know where this comes from back in
your history maybe it’s from your
parents maybe some a childhood
experience but this comes down to being
to having a sense of worth in to having
a sense of self confidence and being
able to ask others to help you right so
it comes from you first acknowledging
that you are important that you’re
creating valuable work and that you’re
worth something because you’re having an
impact on people’s lives the second
component to this is I have a feeling
and looking at your your history here
because of this mindset of yours you
then tend to work with other people who
don’t have money you surround yourself
with people who don’t have money because
that’s because that’s the belief system
you set up for yourself so you you
attract people who are in that similar
mindset to you which is gonna always
hurt you right if you’re if you’re
targeting lose your first group
traditional authors who who weren’t
making one of you trying to give them
more money and now you’re working with
stay-at-home moms in the sewing industry
these are people who don’t necessarily
have a lot of money maybe they can’t
afford your services right you don’t
need to decrease the price of what
you’re selling so that you can attract
this market you need to go and find a
different market right if you are a top
and high high caliber what
editor and vlogger if you’re really a
specialist like you call yourself then
maybe stay at home moms who are doing
sewing websites maybe they can’t afford
you maybe it’s just not the market and
that may hurt that may hurt you that may
feel like you know I love these I love
this group I love working with these
people but if they can’t afford to pay
you then you have to just find another
way to stand and you can always have a
portion of your business that helps
support these people and maybe it’s
further reduced fee movies even for free
but you need to live to write it’s great
to have a charitable heart and to want
to help people but you have to make
money and the more money that you can
make the more people you’re going to be
able to help so you have to make sure
that you are around that you’re
surviving that you’re thriving that
you’re successful and happy I came
across this with my business I you know
I sell entrepreneurs i said i sell the
people like you right i sell that I love
entrepreneurs I empathize so much with
entrepreneurs cuz I was that person
making three hundred dollars a month and
eating beans for lunch every day and now
it’ll survive and wanting to quit and
feeling like garbage when my business
didn’t work out and I don’t want to see
other people go through that I want to
try to help them out I could be with
entrepreneurs 24 hours a day talking
business I love it I just can’t get
enough of it but here’s the big but
entrepreneurs don’t have a lot of money
right you guys don’t have a lot of money
so so selling products selling coaching
services selling anything becomes
difficult because that that hundred
dollars that I’m asking you to spend
that’s critical to you right that’s not
like going to IBM and saying hey I need
a hundred bucks for a campaign that’s
that’s like that’s that’s maybe food for
you right that’s a big deal and so the
way that I’ve modeled my business now is
is at scale right instead of helping one
entrepreneur at a time I’m helping
millions at a time making YouTube
channel videos i can reach millions of
people i work with big brains that are
trying to reach the entrepreneur
community and i can i could charge
microsoft and i can charge dell and i
can charge these big companies who are
trying to reach entrepreneurs
so if you maybe find another way to
stand right who else is trying to reach
this community who’s a bigger company
that you can work with the help them
reach the stay-at-home moms the sewing
community how can you write for them
right and you can still have a portion
of your business that relates to helping
out these save her moms because that’s
your that means something to you but if
that’s always your core and these people
don’t have money then no matter how much
you love them but they can’t afford you
they’re not going to be offended by your
prices I just can’t afford you and so
it’s not on you to drop your prices to
meet them it’s on you to find clients
you’ll pay you what you’re worth so
maybe a long answer but I think a really
important one to recap 1 understand that
you are worth something that you add a
lot of value that you’re helping people
that you are valuable person and believe
that and look in this your self in the
mirror and tell yourself that and and
read the quotes of customers who’ve had
such great experience working with you
and read that over and over again remind
yourself of that and then to start start
going after customers who can afford you
you can really pay you what you’re worth
because once you start charging the
dollars that make you feel feel like a
feel like a respected human being you
know like that to work at such low
prices beats on your confidence so to
work with the right clients will will
help you rise up will help you become a
way better entrepreneur and give you
greater abilities to then go and work
with these these entrepreneur part-time
moms who are in the sewing community
that you love as well okay next up is
harsh eat who wrote in to say I’m not
worried about competitors as are only a
few and they lag far behind us in terms
of technical competence the main
challenge is to reach new customers or
in other terms our customers don’t even
know that the service providers like us
exist I’d be grateful if you can give me
a few tips for the same so how to reach
them thanks our sheet now I’ve gone back
and forth the Hershey a little bit on
email to get a better understanding of
his business basically he helps
companies with really really old
technology come into the modern era and
the company that used to provided is out
of business they’re not around anymore
and companies are struggling to figure
out do I do it myself do I keep with his
old technology to upgrade what to do
next and so a couple of thoughts here
her she first first I hate being in a
shrinking market just as a general rule
that there’s there’s opportunities but I
hate being in a shrinking market so
you’re helping transition companies from
old technology the specific old
technology to new technology and once
all those customers are gone that’s it
right that there’s no one else who has
that all techno they’re not making any
more so just as an overall feeling I
think you should be focusing on a bigger
market not just upgrading these old guys
but anyway that’s my that’s my first
thought I hate being part of a shrinking
market if you’re good trying to grow
business being something that is growing
that’s exploding and try to be the best
in the world of it but to answer your
question what I would do because these
guys are hard to reach is no distributor
to go through it’s hard to make alliance
partners to reach these guys I would use
the media I would position yourself as
an expert I would create content for all
of the major publications articles
magazines that your customers are
reading because you don’t know how to
reach these guys individually right
there’s no director you can call up and
say hey here’s what we do right it may
be hard to get a trade show for them
it’s hard to find that alliance partner
or distributor or supplier so your best
bet is to use the media positions owns
an expert right content regularly
talking about the importance of
upgrading how to do it the steps
involved you can use case studies each
one can be different angles different
stores if we’re things you preach the
companies so that when they come and
read these articles they feel like yeah
that’s my problem I want to talk to
these guys so if you have it if you have
this problems for all you guys on the
only entrepreneur’s watching if you have
this problem where you have this huge
potential audience but they’re scattered
everywhere and there’s no easy way to
connect with them you don’t have a
directory it’s hard to take out
advertising again so how do you reach
these guys use the media what public
are they reading what YouTube channels
are they watching what TV shows are they
tuning into and create content position
yourself as the expert talking about
exactly what you do the problems that
people are facing the the best results
that you’ve achieved for people case
studies continue to share that loop and
as people get exposed to it they’ll come
to you you want to create a poll where
they want to come to you and reach out
to you instead of you trying to find
them one by one okay next up to tou yang
from my newsletter list wrote in to say
hi Evan to hear again you are the man
thank you too i appreciate that i have a
question about friends and family angel
funding confounders take a small salary
from the investment is it common to do
this I know my product works by
distilling to work full time to pay my
bills until I find some type of
partnership to generate revenue if I
receive funding of twenty to fifty
thousand it’s too small and will go
towards product development but if I
receive 100 to 250 thousand and up then
I can see using a small amount of salary
product development and more would love
to know your thoughts thanks again to
this is a great question and when you
are looking for funding angels
especially hate wanting to see a lot of
money going to salaries now you you know
you are expected to make a living from
this but they hate that it’s coming from
their own money right and they’re
thinking if you can’t find a way to make
this your full-time thing if you’re not
that committed to it then why should I
give you dollars to go out and do it
right what angels want to see is that
you are already working on this
full-time you’re you’re in it you’re
invested you’re all in on this it has to
work that’s when an angel wants to give
you their money the thing to think about
here is yeah okay you can take out you
can take out a small salary you know the
bigger the percentage compared to how
much you’re asking for the more our
girls you’re going to get I remember in
my VC days I had a company come that
pitched us they want a half a million
dollars for their business there are
four founders each of them we’re going
to take a hundred thousand dollar salary
and the last hundred thousand I’ll
should be used to grow the business
are you are you nuts you think anybody’s
going to fund that are you what are you
smoking right but this was a real plan
that people are trying to push through
and so obviously they got rejected the
more money you asked for so they are
great it’d be great to have $250,000 and
pay yourself a
twenty-five-thousand-dollar salary and
you know it’s only ten percent of the
total funding it’s easier to swallow but
to get $250,000 how much of the company
you’re going to have to give up are you
even worth 250 thousand dollars at all
right now right angels will take a huge
cut of your business because it’s the
riskiest time if you don’t have your
product done if you have zero sales
that’s the riskiest time to get angel
investment they may not even think your
business is worth 250 thousand dollars
as a whole so that’s your challenge
angels see so many deals see so many
opportunities see so many people coming
at them and the people who you’re
competing against they’re doing this
full time right there they’re making
sales they’re out there hustling your
best bet honestly is to go out and find
a way to make this happen on your own
the boots drop it up to get something to
get customers coming in not to the point
where you’re you’re making a big well
you’re where you don’t need help you
know that’s why you’re going to an angel
but they’re going to kill you on your
valuation and if you’re not working
full-time in the business then honestly
if you’re meeting angels right now I
would just ask for them for advice not
ask for money just get on their radar
screen let them see your hustle and your
drive after their business advice and if
they really like you and and you keep
them posted with your progress they’re
going to want to invest with you but
honestly I think you’re too soon right
now you have to find a way to get this
thing off the ground yourself start
getting some paying customers in so that
you can you can leave your job because
you want to see that you’re working full
time at your business it kind of sucks
and I know maybe not the news you wanted
to hear but being from that industry
having helped raise capital for
entrepreneurs at different stages it’s
probably your best bet bootstrap it up
you can make it just fine
different way man you don’t need to
spend fifty thousand dollars they get
this business off the ground find
another way a cheaper way bootstrap it
up to get some money in the door so you
can pay yourself a small Sylar you can
quit your job do this full time and then
go get angel investors next up sire 3000
one of my YouTube fans commented on one
of my old s videos wanted to know hope
you can help me with this one man I
don’t live in the US and I want to know
whether I have to pay any taxes to the
IRS as well as I will have to give the
government of my country hope I made
myself clear enough thanks in advance
for your attention so you only pay taxes
in your country and the companies will
only collect taxes from people who are
in their country so an example if I’m
selling a product in Canada to Canadians
I have to charge them tax right if I am
hiring somebody here local and canada i
have to pay payroll tax but if i’m
hiring somebody from the philippines or
from pakistan or from europe or wherever
then i’m not paying their taxes they’re
paying their own taxes in their own
country and they’re not paying taxes to
canada right if I hire if I hire
Christina who’s in Montenegro hey
Christina how’s montenegro hope it’s
super sunny and warm she’s paying taxes
there right so wherever you reside
that’s where you pay your income taxes
and wherever your employer resides
they’re not paying those income taxes
for you so if you’re no desk you’re
trying to get a job you will only be
paying taxes to your local government
and not to the IRS okay next up is
Dennis from a news newsletter list
writing to say it’s true I wake up this
morning to do something that I don’t
like but what else is there for me I
don’t have enough capital start my own
business knows not enough solid support
my desire of freedom where should I run
to Evan yes I have great ideas on how to
grow economically but these tough
handles in life can allow me to reach
their helped me realize my dream brother
Dennis Dennis I feel for you man and
when you are waking up every day and
going to a job that you hate and sucks
and you know is beneath you and you know
you have your ideas you want to take off
you don’t know how to realize them it’s
it’s soul crushing it feels terrible
right you feel like you want to do so
much more and you’re just can’t get out
of this rut that you ring to help you
get started I’m assuming you know what
you want to do you have your idea you
have this past you want to follow to
help you get started to go from where
you are now to taking your first steps
to start in your business two really
important things one is if you’re going
to have a job and I talked about this in
my zucca guide work to learn Christina
we could pop that up there if you’re
going to have a job you want to do
something where you’re going to learn so
whatever your idea is for whatever
business that you want to start the job
you take should teach you about that
role right if you want to start
something in the auto industry go get a
job in the auto industry don’t get a job
in the computer industry or in the
cleaning industry or the food service
industry right get a job in cars to
learn about the industry to make
mistakes while getting paid to make
important contacts and connections to
get as close as as you can to the
founder of that business and work with
them and learn from them so that when
you go and launch your own company
you’ll hit the ground running you’ll
have you’ll make a lot less mistakes you
won’t need as much money to do it so
you’re getting paid to learn about how
to become an entrepreneur in that
business and you may find out that you
know what this business isn’t for me you
may find out that this isn’t what I
thought it was I hate this industry I
don’t want to be here and you just saved
yourself a really expensive lesson so
that’s one whatever job you’re in find
something that is related to the
industry that you want to join second is
get started small start small right now
okay so you can’t afford the quick
full-time great you can’t afford to open
up your own store fine what can you do
now for half an hour day to start I
don’t know what your business is but
there has to be a way to spend half an
hour every day and don’t give up on your
dreams you have half an hour every
single day to do something on your
business you can find half an hour today
and tomorrow and the next day every
single day to focus on your business if
you can’t find half an hour in the day
to work on your business to to reach
your dreams you say are your dreams then
you don’t deserve to have your
dreams they’re just going to stay a
dream you have to put the time in and
half an hour a day you have so what can
you do for half an hour every single day
to start working on your business start
talking to potential customers start
building your website start making some
leads and some progress and learning
from people and making connections and
going to trade shows start building it
up until you get to the point where you
have something that you’ve create enough
value where someone’s willing to pay you
and maybe your first jobs are free
because you need experience or maybe
your first jobs are at a really low wage
minimum wage whatever you’re getting
experience and as you add more value as
you add to a portfolio you can start
adding adding adding the bills up and
ideally you keep your job until you
build your business up to the point
where you can afford to pay yourself
full time right MIT you’re not making a
rich right you don’t quit when your
business is making a million dollars but
you want to be able to make a you
survive something to survive on right we
don’t want them to shut the lights on
for you you know because you haven’t
paid your electricity bill so one take
that job where you’re learning something
and then to start small start part-time
build something up now you can get this
started if the dream is important to you
the dream was really important to you
instead of sitting in the car driving to
work every day talking and thinking
about how much you hate this job make
sure you’re spending time every day to
move closer to your goal this should
inspire you and if you don’t have the
time to do that then you don’t deserve
the life of your dreams it’s a it’s a
harsh way to end ask Evan number six but
some real truth we’ll talk there for
entrepreneurs we’re done thank you guys
so much for watching another awesome
episode let me know you guys think you
have a question leave it below in the
comments you want see more videos like
this subscribe to the China thanks for
watching I’m going to have some
clementines and I’ll see you soon
don’t forget to click here to subscribe
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jason j reyez fonseka of ra’s online
calm and i want to say Evan Carmichael’s
newsletter is consistent fun inspiring
XD only newsletter I prioritize and look
forward to period
every show this is episode number six
and I’m here to answer your business
questions to help your company grow so
let’s kick it off first up is Shannon
Shannon rights in she’s from my
newsletter list sure I didn’t say Evan
thank you I’ve been told on more than
one occasion that I’m not asking what
I’m worth I had a publishing company for
seven years but I never got to the point
of taking a salary because I wanted to
offer my authors twice the royalty of
standard publishers now that I’m working
as a freelance editor and blogging
specialist I’m really having a hard time
asking for what I believe are morph I
work in the sewing industry with a lot
of stay-at-home mom so I find myself
empathizing with their situations and
lowering my prices to not offend anyone
my father told me a couple years ago
that I was afraid of money I’m starting
to believe that maybe he was onto
something I always feel like I’m caught
somewhere in between my dreams of
success and not want to take advantage
of others my question do you have any
suggestions on how i can value my
services properly and not feel guilty
you Thank You Shan Shannon ah I really
feel for you because I feel I feel the
love in what you’re doing I feel the
passion in what you’re trying to
accomplish but you definitely have
issues around money and and the mindset
of an entrepreneur and I mean I have an
entire zucca guide on on mindset i
haven’t make sure you have the right one
and what to do but for this case look at
some of the things you’re saying okay
you find yourself empathizing with their
situation and lowering your prices it’s
okay to emphasize with people right
that’s that’s great that’s an amazing
skill to have but that doesn’t mean you
have to lower your prices you say you’re
lowering your price is to not offend
anyone like being charged what your
worth is going to offend somebody right
they may not be able to afford you and
that’s this a lot of people can’t afford
what I do but I don’t believe that my
prices are offensive right and so that’s
right just in how you use your language
right there you’re you’re limiting
yourself you believe that by having a
high price is going to offend people
it’s going to make it hard for you to
ever be charged what you’re worth then
you ask
how can I value my services properly and
not feel guilty like you should feel
guilty for getting what you’re worth
right value your services properly makes
you feel guilty so that means you’re
never going to value services properly
what you first have to understand is
that you are adding a lot of value to
somebody’s life right you’re helping
make their lives or their businesses
better you have to really truly fully
believe that until you do you’re not
gonna be able to charge that next level
of pricing you’re not gonna be able to
charge five times what you’re currently
charged you’re never going to be charged
with your work so it starts it starts
with yourself understanding that you add
value that you are worth something I
don’t know where this comes from back in
your history maybe it’s from your
parents maybe some a childhood
experience but this comes down to being
to having a sense of worth in to having
a sense of self confidence and being
able to ask others to help you right so
it comes from you first acknowledging
that you are important that you’re
creating valuable work and that you’re
worth something because you’re having an
impact on people’s lives the second
component to this is I have a feeling
and looking at your your history here
because of this mindset of yours you
then tend to work with other people who
don’t have money you surround yourself
with people who don’t have money because
that’s because that’s the belief system
you set up for yourself so you you
attract people who are in that similar
mindset to you which is gonna always
hurt you right if you’re if you’re
targeting lose your first group
traditional authors who who weren’t
making one of you trying to give them
more money and now you’re working with
stay-at-home moms in the sewing industry
these are people who don’t necessarily
have a lot of money maybe they can’t
afford your services right you don’t
need to decrease the price of what
you’re selling so that you can attract
this market you need to go and find a
different market right if you are a top
and high high caliber what
editor and vlogger if you’re really a
specialist like you call yourself then
maybe stay at home moms who are doing
sewing websites maybe they can’t afford
you maybe it’s just not the market and
that may hurt that may hurt you that may
feel like you know I love these I love
this group I love working with these
people but if they can’t afford to pay
you then you have to just find another
way to stand and you can always have a
portion of your business that helps
support these people and maybe it’s
further reduced fee movies even for free
but you need to live to write it’s great
to have a charitable heart and to want
to help people but you have to make
money and the more money that you can
make the more people you’re going to be
able to help so you have to make sure
that you are around that you’re
surviving that you’re thriving that
you’re successful and happy I came
across this with my business I you know
I sell entrepreneurs i said i sell the
people like you right i sell that I love
entrepreneurs I empathize so much with
entrepreneurs cuz I was that person
making three hundred dollars a month and
eating beans for lunch every day and now
it’ll survive and wanting to quit and
feeling like garbage when my business
didn’t work out and I don’t want to see
other people go through that I want to
try to help them out I could be with
entrepreneurs 24 hours a day talking
business I love it I just can’t get
enough of it but here’s the big but
entrepreneurs don’t have a lot of money
right you guys don’t have a lot of money
so so selling products selling coaching
services selling anything becomes
difficult because that that hundred
dollars that I’m asking you to spend
that’s critical to you right that’s not
like going to IBM and saying hey I need
a hundred bucks for a campaign that’s
that’s like that’s that’s maybe food for
you right that’s a big deal and so the
way that I’ve modeled my business now is
is at scale right instead of helping one
entrepreneur at a time I’m helping
millions at a time making YouTube
channel videos i can reach millions of
people i work with big brains that are
trying to reach the entrepreneur
community and i can i could charge
microsoft and i can charge dell and i
can charge these big companies who are
trying to reach entrepreneurs
so if you maybe find another way to
stand right who else is trying to reach
this community who’s a bigger company
that you can work with the help them
reach the stay-at-home moms the sewing
community how can you write for them
right and you can still have a portion
of your business that relates to helping
out these save her moms because that’s
your that means something to you but if
that’s always your core and these people
don’t have money then no matter how much
you love them but they can’t afford you
they’re not going to be offended by your
prices I just can’t afford you and so
it’s not on you to drop your prices to
meet them it’s on you to find clients
you’ll pay you what you’re worth so
maybe a long answer but I think a really
important one to recap 1 understand that
you are worth something that you add a
lot of value that you’re helping people
that you are valuable person and believe
that and look in this your self in the
mirror and tell yourself that and and
read the quotes of customers who’ve had
such great experience working with you
and read that over and over again remind
yourself of that and then to start start
going after customers who can afford you
you can really pay you what you’re worth
because once you start charging the
dollars that make you feel feel like a
feel like a respected human being you
know like that to work at such low
prices beats on your confidence so to
work with the right clients will will
help you rise up will help you become a
way better entrepreneur and give you
greater abilities to then go and work
with these these entrepreneur part-time
moms who are in the sewing community
that you love as well okay next up is
harsh eat who wrote in to say I’m not
worried about competitors as are only a
few and they lag far behind us in terms
of technical competence the main
challenge is to reach new customers or
in other terms our customers don’t even
know that the service providers like us
exist I’d be grateful if you can give me
a few tips for the same so how to reach
them thanks our sheet now I’ve gone back
and forth the Hershey a little bit on
email to get a better understanding of
his business basically he helps
companies with really really old
technology come into the modern era and
the company that used to provided is out
of business they’re not around anymore
and companies are struggling to figure
out do I do it myself do I keep with his
old technology to upgrade what to do
next and so a couple of thoughts here
her she first first I hate being in a
shrinking market just as a general rule
that there’s there’s opportunities but I
hate being in a shrinking market so
you’re helping transition companies from
old technology the specific old
technology to new technology and once
all those customers are gone that’s it
right that there’s no one else who has
that all techno they’re not making any
more so just as an overall feeling I
think you should be focusing on a bigger
market not just upgrading these old guys
but anyway that’s my that’s my first
thought I hate being part of a shrinking
market if you’re good trying to grow
business being something that is growing
that’s exploding and try to be the best
in the world of it but to answer your
question what I would do because these
guys are hard to reach is no distributor
to go through it’s hard to make alliance
partners to reach these guys I would use
the media I would position yourself as
an expert I would create content for all
of the major publications articles
magazines that your customers are
reading because you don’t know how to
reach these guys individually right
there’s no director you can call up and
say hey here’s what we do right it may
be hard to get a trade show for them
it’s hard to find that alliance partner
or distributor or supplier so your best
bet is to use the media positions owns
an expert right content regularly
talking about the importance of
upgrading how to do it the steps
involved you can use case studies each
one can be different angles different
stores if we’re things you preach the
companies so that when they come and
read these articles they feel like yeah
that’s my problem I want to talk to
these guys so if you have it if you have
this problems for all you guys on the
only entrepreneur’s watching if you have
this problem where you have this huge
potential audience but they’re scattered
everywhere and there’s no easy way to
connect with them you don’t have a
directory it’s hard to take out
advertising again so how do you reach
these guys use the media what public
are they reading what YouTube channels
are they watching what TV shows are they
tuning into and create content position
yourself as the expert talking about
exactly what you do the problems that
people are facing the the best results
that you’ve achieved for people case
studies continue to share that loop and
as people get exposed to it they’ll come
to you you want to create a poll where
they want to come to you and reach out
to you instead of you trying to find
them one by one okay next up to tou yang
from my newsletter list wrote in to say
hi Evan to hear again you are the man
thank you too i appreciate that i have a
question about friends and family angel
funding confounders take a small salary
from the investment is it common to do
this I know my product works by
distilling to work full time to pay my
bills until I find some type of
partnership to generate revenue if I
receive funding of twenty to fifty
thousand it’s too small and will go
towards product development but if I
receive 100 to 250 thousand and up then
I can see using a small amount of salary
product development and more would love
to know your thoughts thanks again to
this is a great question and when you
are looking for funding angels
especially hate wanting to see a lot of
money going to salaries now you you know
you are expected to make a living from
this but they hate that it’s coming from
their own money right and they’re
thinking if you can’t find a way to make
this your full-time thing if you’re not
that committed to it then why should I
give you dollars to go out and do it
right what angels want to see is that
you are already working on this
full-time you’re you’re in it you’re
invested you’re all in on this it has to
work that’s when an angel wants to give
you their money the thing to think about
here is yeah okay you can take out you
can take out a small salary you know the
bigger the percentage compared to how
much you’re asking for the more our
girls you’re going to get I remember in
my VC days I had a company come that
pitched us they want a half a million
dollars for their business there are
four founders each of them we’re going
to take a hundred thousand dollar salary
and the last hundred thousand I’ll
should be used to grow the business
are you are you nuts you think anybody’s
going to fund that are you what are you
smoking right but this was a real plan
that people are trying to push through
and so obviously they got rejected the
more money you asked for so they are
great it’d be great to have $250,000 and
pay yourself a
twenty-five-thousand-dollar salary and
you know it’s only ten percent of the
total funding it’s easier to swallow but
to get $250,000 how much of the company
you’re going to have to give up are you
even worth 250 thousand dollars at all
right now right angels will take a huge
cut of your business because it’s the
riskiest time if you don’t have your
product done if you have zero sales
that’s the riskiest time to get angel
investment they may not even think your
business is worth 250 thousand dollars
as a whole so that’s your challenge
angels see so many deals see so many
opportunities see so many people coming
at them and the people who you’re
competing against they’re doing this
full time right there they’re making
sales they’re out there hustling your
best bet honestly is to go out and find
a way to make this happen on your own
the boots drop it up to get something to
get customers coming in not to the point
where you’re you’re making a big well
you’re where you don’t need help you
know that’s why you’re going to an angel
but they’re going to kill you on your
valuation and if you’re not working
full-time in the business then honestly
if you’re meeting angels right now I
would just ask for them for advice not
ask for money just get on their radar
screen let them see your hustle and your
drive after their business advice and if
they really like you and and you keep
them posted with your progress they’re
going to want to invest with you but
honestly I think you’re too soon right
now you have to find a way to get this
thing off the ground yourself start
getting some paying customers in so that
you can you can leave your job because
you want to see that you’re working full
time at your business it kind of sucks
and I know maybe not the news you wanted
to hear but being from that industry
having helped raise capital for
entrepreneurs at different stages it’s
probably your best bet bootstrap it up
you can make it just fine
different way man you don’t need to
spend fifty thousand dollars they get
this business off the ground find
another way a cheaper way bootstrap it
up to get some money in the door so you
can pay yourself a small Sylar you can
quit your job do this full time and then
go get angel investors next up sire 3000
one of my YouTube fans commented on one
of my old s videos wanted to know hope
you can help me with this one man I
don’t live in the US and I want to know
whether I have to pay any taxes to the
IRS as well as I will have to give the
government of my country hope I made
myself clear enough thanks in advance
for your attention so you only pay taxes
in your country and the companies will
only collect taxes from people who are
in their country so an example if I’m
selling a product in Canada to Canadians
I have to charge them tax right if I am
hiring somebody here local and canada i
have to pay payroll tax but if i’m
hiring somebody from the philippines or
from pakistan or from europe or wherever
then i’m not paying their taxes they’re
paying their own taxes in their own
country and they’re not paying taxes to
canada right if I hire if I hire
Christina who’s in Montenegro hey
Christina how’s montenegro hope it’s
super sunny and warm she’s paying taxes
there right so wherever you reside
that’s where you pay your income taxes
and wherever your employer resides
they’re not paying those income taxes
for you so if you’re no desk you’re
trying to get a job you will only be
paying taxes to your local government
and not to the IRS okay next up is
Dennis from a news newsletter list
writing to say it’s true I wake up this
morning to do something that I don’t
like but what else is there for me I
don’t have enough capital start my own
business knows not enough solid support
my desire of freedom where should I run
to Evan yes I have great ideas on how to
grow economically but these tough
handles in life can allow me to reach
their helped me realize my dream brother
Dennis Dennis I feel for you man and
when you are waking up every day and
going to a job that you hate and sucks
and you know is beneath you and you know
you have your ideas you want to take off
you don’t know how to realize them it’s
it’s soul crushing it feels terrible
right you feel like you want to do so
much more and you’re just can’t get out
of this rut that you ring to help you
get started I’m assuming you know what
you want to do you have your idea you
have this past you want to follow to
help you get started to go from where
you are now to taking your first steps
to start in your business two really
important things one is if you’re going
to have a job and I talked about this in
my zucca guide work to learn Christina
we could pop that up there if you’re
going to have a job you want to do
something where you’re going to learn so
whatever your idea is for whatever
business that you want to start the job
you take should teach you about that
role right if you want to start
something in the auto industry go get a
job in the auto industry don’t get a job
in the computer industry or in the
cleaning industry or the food service
industry right get a job in cars to
learn about the industry to make
mistakes while getting paid to make
important contacts and connections to
get as close as as you can to the
founder of that business and work with
them and learn from them so that when
you go and launch your own company
you’ll hit the ground running you’ll
have you’ll make a lot less mistakes you
won’t need as much money to do it so
you’re getting paid to learn about how
to become an entrepreneur in that
business and you may find out that you
know what this business isn’t for me you
may find out that this isn’t what I
thought it was I hate this industry I
don’t want to be here and you just saved
yourself a really expensive lesson so
that’s one whatever job you’re in find
something that is related to the
industry that you want to join second is
get started small start small right now
okay so you can’t afford the quick
full-time great you can’t afford to open
up your own store fine what can you do
now for half an hour day to start I
don’t know what your business is but
there has to be a way to spend half an
hour every day and don’t give up on your
dreams you have half an hour every
single day to do something on your
business you can find half an hour today
and tomorrow and the next day every
single day to focus on your business if
you can’t find half an hour in the day
to work on your business to to reach
your dreams you say are your dreams then
you don’t deserve to have your
dreams they’re just going to stay a
dream you have to put the time in and
half an hour a day you have so what can
you do for half an hour every single day
to start working on your business start
talking to potential customers start
building your website start making some
leads and some progress and learning
from people and making connections and
going to trade shows start building it
up until you get to the point where you
have something that you’ve create enough
value where someone’s willing to pay you
and maybe your first jobs are free
because you need experience or maybe
your first jobs are at a really low wage
minimum wage whatever you’re getting
experience and as you add more value as
you add to a portfolio you can start
adding adding adding the bills up and
ideally you keep your job until you
build your business up to the point
where you can afford to pay yourself
full time right MIT you’re not making a
rich right you don’t quit when your
business is making a million dollars but
you want to be able to make a you
survive something to survive on right we
don’t want them to shut the lights on
for you you know because you haven’t
paid your electricity bill so one take
that job where you’re learning something
and then to start small start part-time
build something up now you can get this
started if the dream is important to you
the dream was really important to you
instead of sitting in the car driving to
work every day talking and thinking
about how much you hate this job make
sure you’re spending time every day to
move closer to your goal this should
inspire you and if you don’t have the
time to do that then you don’t deserve
the life of your dreams it’s a it’s a
harsh way to end ask Evan number six but
some real truth we’ll talk there for
entrepreneurs we’re done thank you guys
so much for watching another awesome
episode let me know you guys think you
have a question leave it below in the
comments you want see more videos like
this subscribe to the China thanks for
watching I’m going to have some
clementines and I’ll see you soon
don’t forget to click here to subscribe
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jason j reyez fonseka of ra’s online
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