I was asked the question, "Why are you doing this?" early this morning by a local who stopped by the coffee shop.
My current morning routine has been on the early grind. I love waking up early, making my coffee, meditating, and writing before the world is up. It's one of my happy places. And I get way more done without having any distractions. I enjoy having no distractions so I can get into flow. But this morning, as I was making my coffee at 5am, I heard some knocking on the door.
It was a local who I haven't seen in almost a year. And he stopped by to say hello and give me his recent political opinion. He was still hung up on the vote count.
I told him that while I didn't agree with his opinion, I respected his viewpoint but had to get to work. He asked me my opinion, and I responded with, "I'm going to focus on what I can control. Right now I have two options. I can either give up in business or I can get creative and make it work."
Before he left, he asked me, "Why are you doing this?"
And the reason is simple. I'm choosing to get creative and make my businesses work because I shook my business partner's hand and made a commitment to him when we initially bought the coworking business together. Along with that handshake came a commitment to my wife, his wife, our investor, and our landlord who all trust us to make this thing work. So, the absolute least I can do right now is give it my best effort.
This is why I'm up at 4:30 am every morning right now. The only thing I know how to do when my back is against the wall is to work. And work hard. I see building a new revenue stream online as an opportunity to dig ourselves out of this hole with our brick & mortar businesses.
Because online business is scaleable. And the possibilities are unlimited. So, I'm focusing on building online traffic. Because traffic equates to more eyes on our businesses. And more eyes on the businesses equates to more people buying our products.It's a very simple math equation. I'm doing this because I'm working to build an audience online so that more people will eventually buy the products we sell.
Before the local left this morning, the local asked me, "Are you doing this purely for selfish reasons?" Of course I enjoy making money (I'm an entrepreneur.) Anyone entrepreneur who tells you they don't enjoy making money is likely lying & they're telling you they want to give you value first because they secretly hope that by giving things away for free to you, you'll end up buying their products without having to actually ask you to buy their products. It's psychology 101.
In my planning session for this year, I coined this year as the year of honesty. Which begins by being honest with myself, first and foremost. And honest with my wife. And honest with my business partner. And practicing this honesty will translate to honesty with you as a reader.
So, yes, a big portion of why I'm doing this is so that I can benefit personally in the long run. But that's not what's driving me right now. The single greatest motivating factor is that I have a commitment to my wife, my business partner, his wife, our investors, and our landlord to figure out a way to make our business work.
They've all trusted us to do so.
My daily actions now not only affect my wife and I, but also have an effect on my business partner & his wife's livelihood
My business partner and I recently made a decision together that he's going to focus on growing the coffee company while I grow a new revenue stream online. The coffee company is his original baby & I believe he's best fit to lead The Perk. And he's absolutely crushing it. He's closing wholesale deals left and right. In fact, he's about to max out the capacity of our new zero emission roaster less than two months in.
But even if we wanted to use revenue from our coffee operation to dig us out of the hole with our coworking business, we wouldn't be able to. We have other investors and business partners in the coffee business and it wouldn't be fair to them.
So we're left with figuring out a way to make up for lost short term revenue in our coworking business.
And this is why we've made the decision that I'll focus on growing a new revenue stream online. And we have an agreement that whatever I grow will be under Jayson & I's current partnership. And this is how we plan to dig ourselves out of the COVID hole and make up for lost revenue elsewhere. This is how we'll make sure our investor & landlords for the Denver operation are paid up.
So, yes, while there is a selfish reason to grow a new business for me in the long term, the main driving factor is thatI have a commitment to my business partner and a duty right now to figure out a way to make sure all necessary people get paid who have placed a belief in us.
This is why I've chosen to give up alcohol for this 8 week sprint.
This is why I'm choosing to workout & exercise consistently.
This is why I'm choosing to make time for deep work every week.
This is why I'm choosing to write every day.
Is it uncomfortable? Hell yes it's uncomfortable.
But these are the habits that allow me to put my best foot forward every single day.
No alcohol = more energy
Lifting weights = higher confidence and mental toughness
Outdoor cardio = positive endorphins and problem solving
Deep work = unlock creativity and flow
Writing = clear thinking
I'm still deathly afraid of being open with this kind of stuff online. But I know that sharing my current situation with my readers will ultimately lead to good things.
I'm not doing this just for me. I'm doing this because I have a commitment to hold up with my wife, my business partner, his family, our investor, and our landlord.
And this is why I'm doing everything I possibly can to build a new revenue stream.
As my mentor told me on Thursday — just go sell. And then deliver value.
It's as simple as that.
I'm doing everything I possibly can right now to generate new revenue. I'm hustling through Twitter DM's asking people what their current problems are and if they're willing to pay for them. I'm getting feedback from my newsletter and sourcing pains / problems to keep an eye out for ways to use my skills to generate revenue.
Yesterday, I drummed up two new consulting gigs.
One being a build out of a specific Notion template & the other being a weekly roundtable call with someone who's trying to set up his own blog & newsletter.
This gave me an idea to open it up to other readers. Visit this blog post if you are interested in building a blog / newsletter in 2021 at a no brainer price for a 4 week crash course
Consider joining the 459 other entrepreneurs on my weekly Founder Friday newsletter. Each week, I interview one successful startup founder on my podcast & distill the most important learnings in a quick, easy to read format. Just tell me where I should send it 👇