133 | Building A Thriving Business Of Your Dreams | Dreamline Calculator For Achieving Goals | Tyler Jorgenson

Today we’ll be talking with Tyler Jorgensen. Tyler is an entrepreneur, speaker, radio show host and also a family man. He professes that your business should be giving you the lifestyle you want, instead of being controlling your life. It all comes down to building with deliberate intent. Tyler says you may have to get uncomfortable and we know how to that is.

 

So welcome, Tyler.

 

Thank you so much appreciate you having me.

 

Awesome. So I had a pleasure of running into you and meeting you face to face at funnel hacking live. That was a great experience. But I would like to learn a little bit more about you. Can you take us down the memory lane and tell us you know, how did you get started? What was your first entrepreneurial venture like and and was it a big success right off the bat. That was a little bit about your history.

 

All right. So how far back Could we go and we’re going back to the very beginnings

 

I thought of as you can, as you want. You know what to go. Yeah.

 

So I’m going to explain when I first realised that I was an entrepreneur, and I didn’t know what that word meant, I didn’t know what it was, but I knew that I handled problems differently than everybody else. So I’m at five years old, my sisters and my friends wanted to go to the local convenience store to get candy. But I didn’t have any money. And I didn’t have you know, a couple of quarters. I never I didn’t have any, like any money to go get candy, but I didn’t want that to mean I couldn’t get candy. So what I ended up doing was I ended up picking a bunch of flowers and and putting them and arranging them in a bouquet and I knocked on the this neighbour of mines door that was, you know, an old lady in the neighbourhood. And I sold her the bouquet of flowers, and then I use that money to go buy candy. And over the next you know, that was five years old and over the next you know, few years I realised that whenever I want Money, I would just come up with something creative. And I would just solve the problem. And I realised that that’s one of the core, like principles of entrepreneurship is the ability to solve problems and unique ways. And so I started my first like, official, legitimate company at 18. I owned a restaurant by the time I was 22. And I started just doing I was always looking for that new thing, that next thing I was going to do to build a business, because I just wasn’t cut out for traditional employment.

 

Yeah, well, you know, you’re one of the lucky ones who knew what they wanted to do earlier on.

 

So Oh, no, no, no, don’t get that. Don’t Don’t mix those two things up. I was able to continually solve problems. I still don’t know what I want to do. And I’m okay with that.

 

Well, even even that kind of clarity is is rare these days. So yeah. So tell us a little bit about, you know, what are you working on right now? Are you running one business? Are you running multiple businesses? What is going on?

 

I am I am running one business that is running multiple businesses. So let’s see towards the around this time last year, I sold off a few of my companies. I was doing a lot of things in physical products, so supplements and nutraceuticals, and a lot of stuff in the health and wellness space, and I sold off a block of my companies. I worked on a large ecommerce launch where we built 176 new ecommerce brands and under nine months, and then for the last few months, I’ve been really focusing on my agency, which is for sale, digital marketing, and we help we do content creation, as well as social media management and then the digital strategies around building out the Shopify and the Click Funnels accounts in the e commerce space, and really scaling e commerce brands. So we run one company for sale that helps other companies dominate their digital presence.

 

Got it? So let’s dive into your philosophy about entrepreneurship. And so One of the common things that you have seen is that businesses end up controlling entrepreneurs life. So can you give us a little bit more context about that? You know, where did you notice that? How did you notice it? Whether it happened to you, and how do you get out of this situation.

 

So, um, one of the things that makes entrepreneurs so significantly amazing and so unique is that they’re willing to wear multiple hats. So they’ll get into a project. And they’ll be the marketing guy in the in the operations guy and the sales guy, and the they’ll do everything. They’ll build the business and the product with every like all of their own resources. And that’s a great way to get something started. But it is not something that is sustainable as you grow. So the biggest asset that an entrepreneur has is their, their willingness to get into the trenches and to build the challenges that’s the same thing that will limit their growth. So I learned this really surprisingly young when I realised When I owned a restaurant that I didn’t want to be in the day to day like ordering, you know, I didn’t want to order six cans of all of this per month. And I didn’t want to be the one managing the eight like this, the schedule and the shifts and people’s things like that. So I ended up training a girl that was only 17 years old, who ended up running 90% of the business operations, so that I could try to focus on larger accounts and higher level relationships. And so, early on, I realised that just because the entrepreneurial spirit is what can get you building momentum right away, it can also be your Achilles heel and hold you back if you don’t start trusting other people to do other roles. Now, a lot of times, they’re not going to do it as well as you or the or a better way to say that is in the exact way that you would have wanted. But you have to give people some room to create in their own space and get things done as long as the task is getting done. do have some freedom to do it the way they want. And that gives them a little bit more empowerment than just feeling like they’re you know paint by numbers.

Yeah, that’s so cool. Like, as entrepreneurs, we want to have control. But then, you know, the more control we like to have, the less things work out. And that’s what you’re trying to say. And like, you know, don’t try to do everything yourself andknow it’s gonna hold you back. So what do you do to transform your business into a liberating wake of liberating wake up seems like a very inspirational term. But tell us a little bit about, you know, how did you come up with that term? And how can we use our business or my life.

 

So I had built a business that required me to be super present and this is back in 2008. The business crashed the partnership failed, like the market exploded, it just was a rough time. And around that time, I read the book, The Four Hour Workweek, which is still one of my on my must read list for entrepreneurs, even though it’s a little bit dated now. And in it, Tim Ferriss talks about What he calls his d e a l method or his deal method. And I still use this method when we approach any project. And that is definition elimination, automation, liberation. So you have to first define what it is that you actually want and what the scope of your business and your outcome, it’s the concept of beginning with the end in mind, then the E for elimination is taking anything out of that business or out of your role that doesn’t match the definition. So if you are trying to design a specific lifestyle, you say, Okay, I want a business that I can that I’m working. I’m working in the business less than 10 hours a week and the rest of it, I’m working on the business and here’s what that looks like. And then you realise when you get into the, the building out of your org chart and the building out of your operations, you realise there’s no way with that structure that you’re going to be able to have the defined lifestyle, well then that simply means eliminate those things delegate make the assignment. You have to be very deliberate in saying this isn’t matching my division I wanted in the first step, then when you get into the automation and liberation, it’s simply which things can you set in an automated fashion through systems, processes or people so that you’re not having to do them on a daily basis. And then the liberation is just the realisation of D. So once you’ve defined what you’ve wanted, and you’ve gone through enough of elimination and automation, you can have the desired outcome. So we follow that process with every one of our clients. With every project that we take on, it’s a, it’s a concept of beginning with the end in mind and holding yourself accountable.

 

And so that sounds really good. And I I also sort of subscribed to that model. But one of the things that I noticed in my life and I’m sure like a lot of people go through it and this idea of, you know, what I want is not very clear to a lot of people so that that D for definition is not very clear, most people just stop saying, I just want to make a lot of money. And, you know, that’s where the disconnect happened where instead of start working on the business, we start to work in the business because all we want is to make money. So do you feel that? That is a problem, people have less self awareness, to be able to define what they actually want out of life.

 

So you mentioned self awareness. And I think that’s fascinating. So I think that very few people actually do . I don’t think that most people properly go through a definition of what their their ideal lifestyle is. I think most people are doing one of two things. They’re either subscribing to a lifestyle design that somebody else has created for them, or they are not, they’re not creating anything at all. So they’re just every day they wake up and they react. So they’re just reacting to the things of the day. They’re just solving the problems of the day, but with no long term vision. That’s probably the most common The second one is Which is the first one I mentioned is that they are subscribing to somebody else’s vision. And that’s the concept of, hey, you’re like somebody else has a vision that to be a successful entrepreneur, you have to get up at 6am. And you have to have this specific morning routine. In the end, you have to have drive this type of car. And you have to have where this type of outfit and you have to go to these types of destinations, and you have to have this type of girlfriend or whatever it is, whatever that is for you. Somebody has painted that picture for you. And so the first thing to really defining is to strip all that away and say, if there was no societal constructs, what would my dream be? And some people love working in the business on a daily basis. So that’s okay, build that into your life. Some people want to be retired at a young age like I don’t really want to retire, I just want to have a certain amount of cash flow and a certain amount of flexibility and freedom. I want time freedom because I’m a father. So everything I build in my businesses to allow me to be flexible so I can be dad first. And so I’m I think it is absolutely self awareness is probably the biggest thing, followed by the fact that people are just accepting what other people have painted for them as the perfect life.

Yeah, yeah. So cool. And this all sort of comes down to the mindset umbrella, which, you know, which is so very important for entrepreneurs, everybody, but particularly entrepreneurs, because, as entrepreneurs, we go through so many challenges every day, if we are not if we don’t have that right frame of mind, and if we don’t know ourselves, we can screw up really bad. So now let’s talk about this green line calculator. You have all these wonderful, wonderful terms, and I’d love to know more about it. So what is this dream line calculation?

 

How funny is that? That’s another thing that I borrowed out of the four hour workweek, but it’s because I love the concept. Everyone.  People like to have dreams and they like to have goals. And the dream line calculator is essential. A merging of those two things. So the concept is, let’s list everything in life that you want to do that you want to be and that you want to have. Let’s put $1 cost to those things. And then let’s put a timeline to them. And then let’s figure out what your target daily income is to get those. So when I first did when, when I was first launching my first online business, I was like, Okay, I want to learn how to sail and I want to have this type of car, and I want to like have this much cash flow and I kind of wrote everything out. And then I broke it down and then it was something really, like ridiculous where I needed to make like $170 a day to do that. And when I thought about it in that might be wrong. Let me see real quick if that’s even close. It was close. So that was like just the core base amount. It was something under under 300 bucks. And I was like okay, like an online business. I should be able to make a few hundred bucks a day. And so you know what it what the dream line does is it takes your dreams and puts it on a timeline and then breaks it down to attainable goals, so you can figure out exactly what you have to do to get there.

 

And then, and so what is the next step? Because, you know, a lot of people actually struggle with, let’s say, you know, they figured out okay, this number, luckily struggle with making that happen. So what is the next step from there? Once you figure it out? Let’s say you need to make $300 a day. How do you realise that dream?

 

Well, this is obviously when the entrepreneurship kicks in. Because there are thousands and thousands of answers to that question. There’s going to be the there’s going to be the answers that are saying, hey, you should launch an e commerce store. There’s new ones that say you should launch and launch an expert business, the ones that say you need to have a coaching business or you need to start a service based business. There’s answers that there’s hundreds and thousands of answers. The question is simply like, which one do you want to do and picking one and then sticking with it, right, and I’d already sticking with it till you know it’s not going to work. So I think one of the biggest challenges for people that are just getting started in entrepreneurship is that they think they have to have the long term answer in the short term. My thing is you got to iterate your way to that dream to that position. So the very first thing I launched with an information product, and it didn’t do anywhere near like what I wanted, but what I learned from that I was able to apply to my very first physical product company, and then that one was able to take off. So I mean, there’s there’s resources like, like the 30 day, what do they call it, the one funnel away challenge that are phenomenal, where it gives you, it gives you 30 different roadmaps that you can follow. Now, I’ve never been a guy who struggles with coming up with ideas. In fact, I usually have too many ideas. But what I found is if for people that do need ideation help, they need to come up with that next business idea. I always say start with something that you already have connection to and knowledge with. So look at like, look at what Facebook groups are active in or what things you’re already a part of, and see if there’s a problem in community where you already exist that you can solve. And that’s probably the easiest way to start. But there’s 100 different answers.

 

Yeah, well, what about some of the common things that you that you need, either to learn, or your need to be aware of like, you know, so, operations, finances marketing fails? What are some of the most important things that you need to have under control to be able to become a successful?

 

So again, that’s a really broad question that can be a different answer based on who and where they’re at. So let’s assume that we’re talking about someone who’s getting started. I would say that out of all of the different things that you can learn as a skill at the beginning of your business, becoming a great marketer is number one. So if you are an expert in it, or in some kind of, or in some, like service that’s not really like sexy or appealing. It just is kind of an information type thing. Then getting really good and being great at that isn’t going to make you any money if you don’t know how to turn that into a marketing and really marketing. So if you can learn marketing as the core skill, then you can find all the other answers, you can hire all of the other pieces and you can you can build. But if if you can’t get bridge your expertise or your or your whatever it is your businesses, from the idea into making the market actually interested in it. None of the other pieces ever matter. And you don’t have to be the like an expert at Facebook ads, you just have to understand that you need Facebook ads, and you can hire someone to do the implementation. You have to understand what makes someone moved from a cold audience into a customer and understanding that process.

 

That’s so cool. I mean, they said earlier, attending funnel hacker live for the first time really opened my eyes. Because I didn’t have a lot of background in marketing. I was just sort of learning on whatever I could get my hands on but that was sort of the mecca of positive All the like, you know, big heavyweight marketers in North America at least and even from around the globe. And that was an eye opening experience. Absolutely up. Yeah. Now let’s, let’s take another step now. So let’s say you know, we have taken the plunge, we have started a company, we haven’t figured out our definition and all the other stuff. How do you acquire your first customers like, even though we have, you know, we may have good marketing funnels all that going, but nobody knows us. How do you acquire your first customer?

 

So, um, there’s a lot of times we’re in like a physical product launch where I’ll actually test the market before I invest in a tonne of products. So I use these, I always use this one skateboard example that we did. So I wanted to there was these plastic skateboards that were really popular for a few years here in the states and I built I was thinking about importing a pretty fair amount of them. And so I but I didn’t invest into a container load of plastic skateboards if the market didn’t care about them. So I actually just built a really basic site that had the the pictures of the product had. And I put some basic branding, but nothing complicated. And then I put, hey, enter your name, your email, and I think your address and then click Next. And it had the price and it had everything there. When they click Next, I got all of their information, but it basically said, Hey, sorry, we’re actually out of stock right now we’ll notify you when we get back in stock. I ran a few hundred dollars of Facebook ads to that to that page to see if I could actually get people interested. And I ended up with a list of I think somewhere, you know, 5060 people that were that had tried to buy the product. So then I was like, Okay, that’s enough that I can at least get some of the product and test it out. I think I ordered like 10 or so product skateboards in and I sold them to that to that existing group of people by saying hey, we’re back in stock can get them for 20% off. So the bottom line is in order to get your first customer you either need to spend dollars to get new people in, or do you need to spend energy to go get them in. So if we use the earlier example of you, you starting with a network that you know and appreciate it or and that you have relationships with, if you’re building rapport in that in that community, and then you’re launching a new product to that community, they’re probably going to come in and you know, if you’ve done your research, be that first customer, but eventually you’re gonna have to start spending money, right? And that’s either going to be in Facebook or Google ads, or it’s going to be in dream 100 strategies. But the bottom line is the number of people I know that spend thousands and thousands of dollars building out their funnels, and then never actually drive a significant amount of traffic to the funnel, it blows my mind, the traffic you in, you got to get eyeballs, you got to get people on the offer and into your business.

 

All right. And also, I know that you are in favour of diversifying your revenue sources having multiple of them. So can you tell us a little bit about about that?

 

Yeah, and that doesn’t necessarily mean, like multiple different businesses at the same time, but it really just means the different channels that your businesses is thriving on. So, again, I’m going to use physical product examples because I do a lot of e commerce. So if you have a product that’s doing really, really well on Amazon, well, that’s not a marketplace that you own. It’s not traffic that you can even really control, you can do some influence there. And so if that’s your entire business, that you could literally have your business turned off overnight, if Amazon decides to either kick you off its platform, or take, you know, give it give the buy box for that search term to a product that they control, which happens all the time. So somebody who’s doing really well on Amazon should also have a direct to consumer play. Or if someone’s just doing wholesale, they should have another revenue stream. So my recommendation is say, hey, if you have something that’s art, once it’s doing really well in one vertical, where can that same product, that same service that same not adding any new again, back end resources, but where else can it do well? And so that’s what I would say right away. Most people, they get fragmented by saying, Well, I’m just gonna build 10 different Amazon businesses or 10 different things. And I’m like, Well, every one of those has unique operations and unique challenges. If you have one, offer one product that’s doing really well look as many places as you can get that to win. And that’s how I recommend diversifying.

 

That’s cool. And, you know, I’ve been talking to a lot of entrepreneurs on this podcast, most people are favouring digital products, but I think you have a bias towards physical product. So can you explain why do you favour physical or digital products?

 

Because I’m, I am personally a physical product consumer. I’m not a digital product consumer. And that’s it. It’s where I it’s what resonates with me now I personally love the fact that if a client comes on an order something that I can mail it to them, and they get it and they receive it and they touch it and they consume the product. So to me that makes it more Real, where an information or digital product is a great way to get started, but harder to scale in my opinion. Now there are plenty of people absolutely crushing it. I’m not necessarily saying it’s better or worse. I’m just saying I resonate better with it, because it’s the type of consumer I am as well. Yeah.

 

But do you feel that there are more challenges in building in marketing and supporting a physical product and digital?

 

I so I understand that argument. I’m not saying I necessarily agree with it. Now, it depends on the physical product you’re doing if you’re getting into manufacturing and getting into all of an operations and fulfilment and all of that, that yes, without question, there are more pieces of the puzzle than there is if you’re just delivering a PDF, right. Obviously, there’s more pieces involved. But I don’t necessarily see that as a bad thing. It’s just more opportunities to you know, create leverage.

 

I mean, and there’s a barrier of entry I guess, as well because not many people.

 

Yeah, that’s and so to me, I enjoy that, like I don’t, I don’t mind developing a product or using or drop shipping or private labelling or doing something of somebody else’s. We I mean, we’ve built a massive number of drop ship sites or print on demand sites where you’re not carrying any inventory. You’re not you’re not sitting on container loads of product that you imported. You’re using other people’s products and just growing the market from it. So the reason I like I like physical products is let’s say I acquire a customer that’s in the, that’s in the we’ll just pick something, let’s call it hunting space. Well, I can sell them over and over and over again, more hunting products and next adjacent products. If I sell somebody a digital product around, like how to launch a perfect webinar, there’s only so many other things I can sell them around the perfect webinar. Now I can sell other marketing stuff, but every time I’ve got to go create that I’ve got to invent it, I’ve got to write it, I’ve got to produce it. So I feel like information products have a lower barrier to entry at the beginning but a longer, better gets harder to scale over time. But physical products if I grow if I grow a passionate list of people in the fitness space or in let’s call it yoga space, I can sell to those people all day long over and over again, because they’re consumers in that space. So they’re going to buy not they’re not just going to buy one pair of yoga pants their entire life. In fact, they’re probably going to buy a pair per month.

 

Yeah, that’s so true. that’s a that’s a very good point. I didn’t think of that. So thanks a lot for sharing that. Now. You have also developed an entire product lines for national teams. So that sounds like a huge accomplishment. Can you tell us a little bit about that? Sure.

 

Yeah, we were. So one we had a product that was doing really well online. It was a nutraceutical product, and a retailer came and approached us about putting that product in their store. So we built in order to not cannibalise what we did online, we built a retail specific skew base, so it was just a different combo then we sold anywhere else. And so and then we added some we added, we’re online we did ebooks on retail we gave actually a printed book. And we made it just instead of doing a small box we did an oversized box that was almost like a mini billboard that sold the product. And it did really well in stores. And so what we ended up doing was we ended up anytime a new product trend would come out, they would come out they would reach out to our company to develop a product for that whatever that target that new niche was or that new thing that new product was hitting the market. So we would build almost like the way that mark digital marketers now build offers. We would build offer products were they were oversized boxes, they had a lot of bonuses included. And it was a you know usually a higher quantity than you would get somewhere else. So where the average you know supplement is selling around $20 our products were selling between 50 and $79 in the retail stores because we created unique bundles where that came with books and guides and Extra product and things like that.

 

That’s awesome. That’s great. And so now, as you mentioned earlier, now you’re helping other entrepreneurs. So do you consider yourself to be more on the digital side? Are you now into services, or you’re still associated with physical products?

 

That’s great. So we do digital services for physical product companies. So we run the organic and paid traffic strategies for physical product brands. I will launch other brands probably in the next couple of months. I’m intentionally taking a little bit of a hiatus while I continue to scale my team. So we’ve, we’ve grown a pretty awesome team and it’s continuing to grow. And right now we’re supporting our clients and then but we have a few products in the works.

 

And so, for people who are curious, how much investment is one looking at develop a physical product, I know you know, there is a huge range but typical product that can be sold online, you know, as always, size, the ideal weight and all that? What are we looking at?

 

So I started my first product with a 10 cent domain and $100 Google AdWords credit. And then I built a WordPress site, which on my own, and I use that hundred dollar Google AdWords credit, and I and I dropped, shipped somebody else’s product. And I use that initial start with no additional money put in from me other than reinvesting the revenue back in to grow that to well over a million dollars in total revenue, and selling the business last year. So don’t think that it requires a tonne of cash. But what if you don’t have the cash, you have to make up for it in grit and determination. And so when things would go down in that business, I had to fix them, I had to figure out the solutions. If one advertising channel stopped, I had to find another advertising channel. If one merchant account got shut down, I had to find another merchant account and so that being said, you can see There’s a little bit of a pyramid here of what types of how much money you can make in physical products. And the farther up the pyramid you go, the more you can make per product, but the more risk you take. So it starts at the bottom of just like drop shipping somebody else’s product, right? So you can just sell what somebody else has created, make a little bit of a margin, you’re not taking any inventory risk not doing anything. That’s where I started. The next thing I stepped up to was white labelling. So I was actually private labelling now my sticker on their product, because I was doing enough volume that it made sense to put my brand on it, but I still wasn’t carrying inventory, I was doing what they call private label on demand, right? Then you can move up from there to contract manufacturing. So okay, I’m gonna actually make my own product. I’m gonna do small runs, but I’m not going to own the manufacturing plant. I’m not going to own the supply chain. I’m just going to pay somebody another manufacturer to make it for me, but I’m going to now warehouse it or put it to a three Taylor send out myself. You can then move up from there to owning manufacturing and there’s other things that you can You to continue and the higher up you move, you get more margin, but you also take on more risk. So my recommendation to anyone who’s just getting started in physical products is to start at the bottom of that puzzle. Either white either either drop shipping or private label drop shipping, because there’s no reason for you to go and spend $10,000 on inventory. If you don’t know how to sell that product yet.

 

And you help, do you help entrepreneurs with that as well or not?

 

So we don’t really work with a startup entrepreneur anymore. We occasionally will do workshops, we just completed one in Arizona, we’re going to help some people kind of coming up with their initial idea. And so and there might be something coming out in the works down the road, that’s a basically a digital product on how to get started. But honestly, I share most of it for free. So it’s just getting, you know, it’s the steps we talked about on here. Like if you can get started. There’s so much information out there that’s available already right like read Read read the four hour workweek watch some YouTube videos, open a, you know, build a click funnel or Shopify site, follow the tutorials that they give you and just start testing.

 

Yeah, yeah. And you have a very active Facebook group as well, a lot of value in there. So check that out anybody listening? Well, thank you so much for being with us today and sharing all this knowledge. Now, before I let you go, can you tell us how people can reach out to you?

 

Sure. So you can tune into my podcast, I’d appreciate you jumping over to biz ninja entrepreneur radio, you can find that at biz ninja calm. My name is Tyler Jorgensen. And you can find me at Tyler Jorgensen. com. Those are the two main places you can find out about for sale and business and all that stuff from there.

 

Awesome. Well, thank you once again for being with us.

 

My pleasure. Thank you so much. Great.

 

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