By Paula Pant
When Rand Fishkin was 25 years old, he carried $500,000 in credit card debt.
Less than a decade later, Rand was the Founder and CEO of a company that grossed $35 million in annual revenue.
In this podcast episode, Rand shares the story of hitting his financial rock-bottom and making the ultimate comeback.
By Paula Pant
Chad Carson’s friends called him a “nerdjock.”
When former college football linebacker Chad Carson graduated from Clemson University, he decided to start a business. But he didn’t have any money.
He was a 235-pound athlete who attended college on a football scholarship. He graduated debt-free with $1,000 in savings from various odd jobs. He wanted to become an entrepreneur, and he knew he was starting from zero.
As Chad viewed it, starting from zero meant he had nothing to lose.
He started jogging around local neighborhoods near the university. Whenever he noticed a property in disrepair, he’d ask if it was for sale.
If he noticed a ‘For Sale by Owner’ sign in the yard, for example, he’d dial the number.
If he noticed a home with an overgrown lawn and no curtains in the windows, he’d leave a note on the door, or he’d knock on the neighbor’s doors to get the owner’s phone number.
By doing this, Chad started a real estate wholesaling business. He’d find off-market properties, enter into a sales contract with the owner, and then ‘flip’ the contract to an investor. He earned around $5,000 for each deal.
The benefit to a wholesaling business, Chad discovered, is that he could get a foothold inside the real estate industry without much access to capital. He was a recent college graduate without any official employment, so most banks weren’t interested in offering him loans. Wholesaling gave him a start in the industry.
But after awhile, he wanted to chase bigger deals. He and a business partner decided to start flipping houses themselves. They earned profits of around $20,000 to $30,000 for each deal.
While this was great, Chad wanted to transition into something that would provide a steady, stable income stream. He was running an active business; he wasn’t accumulating a portfolio of passive investments.
He and his business partner stopped flipping homes and began accumulating buy-and-hold rental properties. Today they have 90 units between the two of them.
A few years ago, Chad realized that the passive income from his investments made him financially independent. He and his wife decided to enjoy their newfound freedom by moving to Ecuador with their two children, ages 3 and 5.
They spent 17 months living in Ecuador, learning Spanish and enjoying a slower pace of life. They recently returned to the U.S. and are considering moving to either Spain or Germany — or maybe Colorado? — for their next adventure.
In today’s episode, Chad and I discuss real estate, financial independence, and international travel with children.
By Alyssa M
Imagine this:
You start a side hustle. Maybe you sell planners or lead workouts in the park.
You make a few thousand dollars during your first year. It’s fun beer money, but not enough to quit your day job.
But you keep growing. You run this as a one-person operation, though you bring on freelancers or independent contractors.
Your revenue grows into the five figures. Then six figures. After a few years, you’re running a one-person, million dollar company.
This sounds like a pipe dream, right?
But it’s the true story of Laszlo Nadler, who created a line of planners and calendars. It’s the true story of Stacy Berman, who started leading 5:30 AM fitness bootcamp classes in the park.
And it’s the true story of hundreds of other solopreneurs interviewed by business journalist Elaine Pofeldt, who took a deep-dive look at the lives and businesses of entrepreneurs who run companies that gross more than $1 million, but have no employees.
In today’s episode, we take an inside look at the secrets behind one-person, million-dollar businesses.
If you’ve ever considered starting a side hustle or business of your own, don’t miss this.
This episode originally aired in March 2019.
By Erin @ Team Afford Anything
Wish you could get a crash course in business administration, without the expensive price tag?
Want to know how you can provide more value in your current job to increase your chances of a promotion or raise?
Are you exploring the possibility of turning your side hustle into a full-time business, but have no idea where to start?
Today, Josh Kaufman, bestselling author of The Personal MBA, joins us on the show to discuss all three of these situations and much more.
In Josh’s words, “I think in general, business as a domain of knowledge is one of those things that once you learn it…it can help you in all sorts of different areas, even outside of business.” Regardless of whether you’re a teacher, graphic designer, entrepreneur, junior level employee, or manager, becoming familiar with business basics can change your perspective on work and the part you can play in your role.
By Paula Pant
“Confidence is a trap.”
“Personal narrative is another trap; it was invented by the social media people to turn well-rounded, comfortable people into balls of insecurity.”
“Authentic is a ridiculous concept, and it’s a trap, and no one wants you to be authentic. They want you to be consistent.”
Prolific thinker and writer Seth Godin, arguably the most famous modern author in the field of marketing and storytelling, shares these insights in today’s conversation.
Seth Godin is famous for his ideas. He’s written 19 bestselling books on mastery, creativity, business and marketing. His books have been translated into 35 languages, and one of his books was the top bestselling marketing book of the last decade. He’s an inductee to the Marketing Hall of Fame (yes, it exists).
He joins us today to talk about creativity, choice, the importance of practice, and how to overcome your self-imposed limitations.
By Erin @ Team Afford Anything
Has the economic uncertainty of 2020 caused you to think about creating your own stream of income?
Has the turmoil of 2020 also caused you to feel so overwhelmed you’ve bought a plot of sand in which you bury your head on a daily basis?
We get it. It’s normal to feel paralyzed by everything you need to do before you get your side hustle off the ground. But you don’t have to take the complicated route. There’s another way.
Today’s guest, Alan Donegan, is the cofounder of PopUp Business School. It has helped over 7,000 people in six countries start their own companies. The best thing is, Alan teaches others how to quickly – and affordably – start businesses. There’s no fluff, just action.
In this episode, Alan shares the simple advice and steps to take to give your side hustle a whirl. Within a month, you’ll know if your idea is viable or not, and all it takes is a few hours over the course of a week.
By Paula Pant
We’re in an economic collapse.
We have the highest unemployment since the Great Depression.
There are many more people who want jobs than there are jobs available.
Yet, you want to quit your job.
Maybe you planned to change careers this year, maybe you wanted to take a sabbatical, or maybe you wanted to retire early.
Regardless of your plans, you might feel as though this recession ripped them to shreds and blew them out the window.
But…what if you could still make your plans work?
What?! Quitting your job at the beginning of a recession is INSANE, isn’t it?
Maybe. Maybe not.
You’re kidding. Right? …Right?? Isn’t that equivalent to career suicide?
Nope. It worked for me.
Since we’re in the middle of another recession and many of you want to voluntarily leave your job at some point in the future, I’m re-airing an interview I did on Lessons From a Quitter two years ago. The host, Goli, interviewed me about quitting my job at the beginning of a recession.
By Erin @ Team Afford Anything
Vision.
We’re bombarded by articles and books and social media posts that tell us that a “vision” for life and work is essential.
But what is a vision?
Is it a fluffy, pie-in-the-sky, feel-good statement that elicits warm-and-fuzzy feelings?
Is it the result of a week-long retreat spent in deep reflection?
Is it a board full of a zillion post-it notes with color-coordinated topics?
Not according to our guest, Michael Hyatt, a New York Times and Wall Street Journal best-selling author on the topics of leadership and business.
By Erin @ Team Afford Anything
Welcome back to PSA Thursday, a weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic.
Today’s focus is work. Specifically, working from home, and how to stay focused and productive throughout your day.
Getting thrown into working from home when all you’ve known is the office life can be hard. Especially when there are added distractions involved that you don’t have to deal with at the office, like your kids, a pile of dishes, or your gloriously-stocked refrigerator.
How can you manage the expectations of both your colleagues and the people you live with? How can you find a routine when you feel like you’re being pulled in a million different directions? How can you ensure your kids are taken care of and your boss/manager/client is happy?
Listen to the episode to discover the 31 tips we recommend for staying productive as you work from home.
By Erin @ Team Afford Anything
Do you love the idea of making money on your own — without a boss?
Can you imagine deciding how you spend each day?
Are you bored and looking for a challenge? Do you love the thought of adventure?
Today’s guest, Chris Guillebeau, knows all about hustling, living an unconventional life, working towards seemingly impossible goals, and combining his interests into an epic lifestyle business that brings him freedom and joy.
