Category Archives for Entrepreneur Dojo

The Reason Why You Can’t Finish Your Side-Hustle Projects

As of February 2017, I currently coach 5 side-hustle entrepreneurs who have day jobs. Each of them live busy lives. One of them works a full-time pharmacy job, has 2 kids, stays involved with industry groups, and has a few hobbies too. Life is busy for the side-hustle business owner.

I offered a coaching session to a fellow side hustler back in August 2016. We talked about his niche website, his following, and how to grow his audience and business so he could one day leave his soul-sucking day job.

We spent the majority of our coaching session together discussing his biggest obstacle: perfectionism. He wanted to launch a course for his email list, but felt like there were too many things stopping him from finishing it.

Have you felt like that?

Maybe you feel the urge to check one more blog post before moving forward. Maybe you believe you need to do more research before you work. Or maybe you want to scrap the entire approach and start a new one.

Whenever I hear about a project like this from a coaching client, like a book, course, or product, that is not finished, but in their words “requires more work”, I know there is a procrastination issue.

There’s something major missing from the client’s life:

DEADLINES

A quick story about the power of Deadlines.

Évariste Galois was a young French mathmatition during the early 19th century. One night, he got into a fight with another young man over a woman, and Everest was challenged to a duel.

Everest knew he would likely die in the duel, because he was a nerd (I know from experience as a nerd who fights a masculinity battle he can’t win).

Everest had so many ideas about theoretical algebra in his mind, but never put it on paper. He thought to himself, “If I don’t write this now, it’ll be lost forever.”

He wrote in his journal all night and into the early morning hours up until his duel. Sadly, Everest died in the duel as he predicted.

Months later, a friend sorted through Everest’s belongings and found his journal. As a fellow mathematician, he couldn’t believe Everest’s theoretical writings. The friend sent the journal to the local college, and later, Everest’s theories about algebra became breakthrough discoveries in the math field.

Deadlines are required for dreams

As a side-hustle entrepreneur, we begin our journey with passion to chase our dream. Our passion is quickly tested with trials, obstacles, rejections, and disappointments. We find ourselves lackadaisical about the journey after defeated by our obstacles.

Take the step now to set a deadline for yourself. Don’t think far off. Identify your first simple step that can be done in 15 minutes, then set a deadline for when it will be completed.

Bonus step: give yourself a reward when you complete your deadline. You’ll find yourself creating a new habit if you continue to give yourself rewards when you complete tasks.

Goals without deadlines are simply dreams that won’t happen.

Don’t let another wasted hour go by without identifying your deadlines!

2015 Online Business Goals + Fears

ELECTRONîCADreams are goals without deadlines. I will kill my dreams of financial independence and make them a reality. Rawr!

I’ve been inactive on this blog for a long time. I truly regret that. My 2 main reasons for this lack of care are excuses and focusing on my authority site PharmacySchoolHQ.org.

But now, I rejoin the ranks of “transparency” blogging and share my journey towards financial freedom.

 

PharmacySchoolHQ Goals (my Authority Site)

2,000 emails

I roughly have 400 email subscribers. (I include my Facebook Groups in my community number on the website, which is why it’s almost 1,000).

Using OkDork marketing plan system, I calculated that I need:

4 emails daily to achieve 2,000 emails by the end of 2015.

I don’t think this is possible until July/August. So, to overcome this, I’ve created a diagnostic tool that answers my target market’s greatest question and an email course (autoresponder).

Launch 2 ebooks

I know ebooks take a long time to complete, and the process can become discouraging.

That’s why I’m vlogging my journey (see the first video here).

By April 20th, I plan to release my first official ebook for my Pharmacy School site. I will share with you every step of my process, from finding topics, to writing, to marketing the book. I just signed up for Tom Morkes’s Publishers’ Empire, which I’m sure will lead me to success.

I will steal multiple ideas (mostly marketing ideas) from great people like Austin Netzley, Chandler Bolt, Nick Loper, and Scott Britton. (note: it’s not stealing if they blog about it 😉 ).

Systemize 3 course sales funnels

At this moment I have two courses that converted around 2-3% on my email list after I used Jeff Walker’s Launch formula. I have another course in the works.

I need to systematize the selling process for each course. What I mean is that I need to build the autoresponder sequence for each course in conjunction with my website’s opt-ins.

Create membership site

I plan to build a basic membership site for my audience. It will be fairly similar to Ryan Gray’s Med School HQ membership site. Whether students will pay for this or not remains to be unseen. The response I get from students (over the phone + Skype conversations) appears like they have a wet appetite for this product.

The premed student niche has multiple businesses that cater to them in a variety of services, while the prepharm student niche remains relatively untapped, and underserved. This may be because there isn’t enough of a market there. This fact mildly scares me with my business ventures, but I believe that I can build the systems to produce recurring revenue. I’ll address this “problem” below under my first fear.

Create + launch podcast

There is no podcast that serves my niche audience. I did pretty well with my first podcast, The Leadership Dojo, achieving 20,000 downloads in the first month (with no active platform or no joint ventures).

I believe this podcast will add rocket fuel to my site’s traffic, email list, and sales.

Generate $20,000

This seems lofty to me.

My previous launches generated around $700. I had a much smaller list (~200) and didn’t know what the heck I was doing.

Will I be able to turn $700 into $20,000? Stay tuned… 😉

 

Online Magazine Goals

Generate $2,000/month

I will remain extremely vague on this point on purpose. I’ll leave it at this: I am paid for my article contributions by the amount of visitors to my articles.
If you’re into internet marketing, this may seem crazy to you. My jaw dropped when I found this.

PLEASE NOTE:
This is highly irregular. You will likely not find such a gig anywhere on the internet.
I do not recommend seeking an opportunity like this for a revenue stream (unless you’re a pharmacist with a message, if so, send me a message).

The majority of online magazine do not pay their contributors (such as INC, Life Hacker, Success, etc.). I found this opportunity on a fluke and now it provides the majority of my business income.

I generated over $7,000 in December and January from my contributions and affiliates. I found a true “holy grail” of passive income.

 

AlexBarker.co Goals

Blog/Vlog once per week

I neglected this site and it’s eating away at my soul. I feel the need to talk about what I do on a business perspective for a few reasons:

  • I love to inspire others as to what’s possible online.
  • Continuously push myself to improve on everything I learn.

Increase email list to 500

Small goal I know. But as I watch people who document their journey (Jon Haver, Nick Loper, Pat Flynn, Gael Breton, Ron Stefanski) I’m not only inspired to take action, but to tell my story too.

That’s why it’s so important to start now. Who know? Maybe after my book launch journey, I can turn that into an email course for new visitors 😉

Launch my Wife’s AudioBook Narrator Side Hustle

Heyo! My wife was inspired to join the ring of online business! I’ve never been more proud of her.

She has wonderful talent for the arts, specifically acting and videography. She’s currently helping with a locally produced film.

She plans to launch her narration business slowly, figuring out the kinks first. We’ve partnered with a former coaching client of mine to narrator a Christmas book. Nice!

 

3 Fears of 2015 

Yuck. I hate fear.

I especially hate the way it affects my decision-making process. I also dislike admitting that I’m afraid in front of the human race (on the interwebs).

1)      I’m afraid my authority site is wasting my time

The profession of pharmacy is in turbulence mode. (skip ahead if you’re not interested in the pharmacy market).

There are so many unknowns with America’s healthcare system that it has everyone scared. On top of that, there’s a HUGE increase in the amount of pharmacist graduates (nearly 200% increase in the last 15 years) and relatively same amount of jobs available. This has every pharmacist in a tizzy, complaining that the profession is watered down and there won’t be any jobs for pharmacists.

How does this affect my website?

Google Trends of “Pharmacy School”

Screen Shot 2015-02-09 at 9.16.51 PM

This is from Google Trends. And simply, this says that over the last 10 years, there has been a significant decrease in interest. (of note, searching Google Trends for “Pharmacy” shows an increase in the last 10 years… interesting…).

One reason for the decline may be the negativity online concerning pharmacy as a profession. It is discouraging students from applying to pharmacy school. Thus, my site isn’t as popular (it’s not solving their problems).

However, there’s potential…

Simple economical thinking:

Increased number of graduates + stagnate job growth = too many pharmacists

Who thrives in this kind of environment? Companies. They get to pick the best of the best candidates.

But who can make pharmacist into the best of the best? A Career Coach

There’s a great potential for this authority platform to help pharmacists become the best in the CV pile. While this business idea hasn’t come into fruition, it’s a definite possibility for the future.

2)      No one will care

I hate the idea of writing something that doesn’t change someone’s day. My goal is to create something that inspires life into people. I suppose this is my greatest fear: to create something worthless.

3)      It won’t generate a sufficient income

While I enjoy my job, I’d rather not spend my “free” time on something that doesn’t fulfill it’s ROI (return on investment). As a pharmacist I make over $100K per year (Click on the link if you’d like to see my pharmacist income and budget, password: pharmacistincome). Thus, I make over $50/hour, which is crazy awesome.

So, I would prefer that my time spent on these projects would yield the same results or higher.

Last year, I made over $6,000 from my online business. I spent at least 500 hours on my businesses in 2014. That’s $12/hour. Ouch.

 

How do I beat those fears?

Share them with you

I know a Best Selling Author, goes by the name Acuff, who says that Fear loves it when you don’t talk about what you fear. Because then, Fear takes control and creates mediocrity in your life. It pushes you away from taking action.

Take Daily Action

Persistence is the key to online success. I see this time and time again. I’ve mentioned quite a few people above who failed at multiple online ventures and yet come out on top with their income reports.

If you wait for all the lights to turn green before starting your journey, you’ll never leave the driveway. – Zig Ziglar

What are your 2015 goals? Can I help you achieve them?
What are your 2015 fears? Can we jump on a call together and defeat them?