REAL AF with Andy Frisella - How to Come Up With a Business Idea, with Andy Frisella - MFCEO6

00:00:00.000 Hey guys, what's up? You're listening to the MFCEO Project Podcast. I'm Andy Fursella.

00:00:14.600 I'm here with my co-host, Von Kohler. And today we are joined by a special guest, Teresa

00:00:20.560 DiPasquale from Tampa, Florida, who is also an entrepreneur in her own right and has come 0.99

00:00:27.760 up with a number of successful businesses. And we're going to talk about a few things.

00:00:32.280 What's the MFCEO Podcast about? Well, 16 years ago, me and my partner, we started a business

00:00:39.940 with $12,000 that we got from painting the stripes on parking lots. And we rolled that

00:00:46.740 into a company 17 years later that does annual revenue over $100 million a year. So basically

00:00:54.900 what we want to do is we want to bring a mentorship aspect to people who may not have mentors.

00:01:02.460 We want to bring you guys the truth, the no sugar coat, no bullshit reality of business.

00:01:08.760 And we want to help you guys realize what can be achieved because in today's society, it

00:01:14.840 is very common for everyone to be negative. And we're going to try to get you guys the

00:01:20.180 tools you need to be positive and to make results happen. So I'm going to get started

00:01:27.260 here on a couple of questions. Before I do, Von, you were just mentioning to me that your

00:01:35.580 wife is from Poland.

00:01:36.860 Yeah, she's from Poland. She's an immigrant. 1.00

00:01:39.020 She is.

00:01:39.580 She grew up in another town, however, that has more Polish people than most Polish towns.

00:01:44.740 What do you mean?

00:01:45.540 Chicago.

00:01:46.320 Oh, yeah. There you go.

00:01:47.120 Chicago actually has almost more poles than like Krakow and some of the... 0.98

00:01:52.780 More poles, yeah.

00:01:53.820 What kind of poles? 0.94

00:01:55.240 Dollar bill poles?

00:01:56.500 Yeah. Well, you know, the problem they run into in sporting events in Poland, you know

00:01:59.900 that, don't you? The problem is wherever you sit, you're always sitting behind a pole.

00:02:05.740 No.

00:02:06.360 No, but she's fluent. 1.00

00:02:07.780 So like when you guys change your light bulb or your house, you guys got to do it together

00:02:10.140 and stuff like that?

00:02:11.080 Right. Yeah. What's funny is I told her that I'm old enough that in the 80s,

00:02:15.200 all the jokes were about Polish people.

00:02:17.260 Yeah.

00:02:17.760 And I, you know, I'm probably going to offend everybody in our audience is Polish, but I

00:02:23.420 love poles. They're great.

00:02:25.160 Yeah. We all know you love poles.

00:02:26.760 Yeah.

00:02:28.820 I walked into that one. I love Polish women, I should say, or one in particular. 1.00

00:02:33.600 Teresa, you're Polish, right?

00:02:34.400 One in particular.

00:02:35.060 No.

00:02:35.480 Yeah.

00:02:36.220 When we were just talking about, you're Polish.

00:02:38.000 Portuguese.

00:02:38.600 Oh, Portuguese. 1.00

00:02:39.260 Yes.

00:02:39.600 Well, I think we should have a contest on how to spell Teresa's last name. 0.98

00:02:44.600 Why is it tricky?

00:02:46.020 De Pasquale. Is that how you say it?

00:02:48.240 Yeah. That was perfectly accurate.

00:02:49.240 All right. Well, see, like I said, I'm used to, my wife's-

00:02:52.080 That's a nice, nice, good Italian name.

00:02:53.400 That's actually a good Italian name.

00:02:54.020 Exactly.

00:02:54.500 Yeah.

00:02:55.080 Well, the Polish language is just a bunch of consonants thrown together. It's impossible 0.99

00:02:59.580 to learn, but yeah. No, she was flown over here. She escaped communism.

00:03:03.540 She did.

00:03:04.460 Yeah. Yeah. Back in the 80s, Ronald Reagan said, anybody want to escape communism, we'll help

00:03:10.200 you out. She, like, jumped the Berlin Wall?

00:03:14.200 She was born in Berlin, because her parents were out of the country when she was born,

00:03:20.020 but yeah. Yeah. So, there's a piece of the Berlin Wall in Missouri. You know that, right?

00:03:24.280 I saw that. Was that you?

00:03:25.420 Yeah.

00:03:25.700 You went and saw that? Yeah.

00:03:26.640 Yeah. That's pretty cool.

00:03:27.440 It's an awesome place. Churchill Museum.

00:03:29.220 Yeah? Where is it?

00:03:29.900 Yeah. It's in Fulton, Missouri.

00:03:32.100 Huh.

00:03:32.240 At Westminster.

00:03:33.560 I saw that. I think I saw that on your Instagram or Facebook or something.

00:03:35.860 That was cool.

00:03:36.620 Yeah. So, but, Teresa, so you're going to join us today, huh?

00:03:41.640 I am.

00:03:42.380 Are you going to add pithy, insightful comments?

00:03:44.860 Hopefully.

00:03:45.400 That's normally my job, but.

00:03:47.260 So, Teresa, tell us a little bit about what you do and your entrepreneurial history. I know

00:03:53.080 it, but nobody else does, so.

00:03:55.460 Well, currently, I am the founder of Bikini Boss Fitness. So, basically, it's an online fitness

00:04:00.620 business, but we've basically branched out now. We have a couple different divisions. So,

00:04:04.420 I have a competitive team. I do content delivery programs. I have coaches. I have an online

00:04:08.660 store. And we've kind of started steamrolling into, like, almost a little multi-level business

00:04:15.480 as well. So, that's my current venture.

00:04:18.840 And before that, you owned some gyms and clubs and things like that, right?

00:04:22.800 Yes.

00:04:23.140 Some brick-and-mortar businesses.

00:04:24.000 Yep. I had two gyms in Tampa.

00:04:24.900 Yeah. She's evolved, basically, from very similar to how we have started with brick-and-mortar

00:04:31.560 type businesses and then evolved into more online type businesses, which is very similar

00:04:36.040 to what we do as well. So, Vaughn, what are we talking about today?

00:04:42.200 We're talking about something that people have been asking questions. They've been sending

00:04:45.320 questions to askandyatthemfco.com. And one of the common questions we get has to do with

00:04:51.860 this topic of ideas, various questions that go along with that. You know, what do you do

00:04:57.760 when you're really passionate and you're willing to work hard, but you just don't have an idea

00:05:03.220 for a product or a business? Or if you have an idea, how do you know if it's a million-dollar

00:05:08.540 idea? That sort of thing. So, I just thought we'd talk a little bit about that.

00:05:11.800 Yeah, man. I think that's definitely one of the most common questions that I get, even

00:05:15.560 through email or in person or whatever. You know, people always ask, how do I know what

00:05:23.300 idea or what route I should take? And I feel like, you know, that's a very difficult question

00:05:29.020 for somebody to answer because the reality is that that answer can really only come from the

00:05:34.000 person that's asking the question. So, it's an introspective type question. You know, you have

00:05:39.420 to be able to look at yourself and decide that on your own. It's not something that somebody can

00:05:44.580 decide for you because in the reality, if somebody does that, you're going to end up being on a road

00:05:48.900 that you're not sure was even the road that you picked. Right. And then when things get tough,

00:05:53.080 you're going to say, man, I didn't choose to be here. So-and-so told me to do this. Right.

00:05:56.300 You know, so it's important to know that you have to come up with the answer to that question on

00:06:02.440 your own. And I guess, you know, what we could do is probably start to walk people through that

00:06:06.980 process. Yeah. I think that... Why don't you just, I mean, like, how did you literally come up with

00:06:12.820 the idea to have a supplement business? What was the process there? You know, my story's a little,

00:06:17.840 you know, it's almost like I don't... The way it worked out for me isn't like what I try to teach

00:06:24.020 people to do. It just kind of worked out. You know, I talk a lot about how important it is to

00:06:31.060 follow something that you're passionate about and follow something that, you know, that you're

00:06:36.320 interested in and figuring out how to monetize that business. And that's not how it worked for us.

00:06:42.300 I mean, if I'm being completely honest, you know, we did the same thing a lot of entrepreneurs do in

00:06:47.440 the beginning is they focus on the money. Okay. So Chris and I, when we were young, you know,

00:06:53.280 we were 18, 19 years old, we're like, hey, let's start a business. And the first business idea that

00:06:58.300 we came up with was tanning. And the reason we came up with a tanning bed business is because

00:07:02.240 we knew somebody else who was in that business, who ironically, I'm still very good friends with

00:07:07.060 today, that was doing really well. And so we said, okay, you know, Todd's doing great at tanning,

00:07:14.140 let's do tanning. We didn't, we weren't passionate about fucking having some kind of bronze tan, 0.95

00:07:19.520 you know what I mean? It's just, we were trying to make money. And so we researched it a little bit 0.94

00:07:25.180 and then we come to find out that, you know, we couldn't afford, we only had $12,000. We couldn't

00:07:29.620 afford a tanning bed, not even one. So that expensive. Oh yeah. Back then they were like 50 grand. I don't

00:07:35.520 know what they are now, but anyhow. So that kind of crossed it off the list for us. And then what

00:07:44.480 happened was we decided to open a supplement store because that was something that we were into

00:07:51.920 personally. We knew about that personally. We were both into working out. We were both athletes.

00:07:57.080 we were both interested in that direction in our personal lives. So although like we didn't choose

00:08:08.740 that business as our first choice, it ended up being the same thing I teach people, which is to

00:08:15.340 follow your passion. And it's because what we knew about, you know? And I make, you know, a lot of times

00:08:21.440 when I talk about this with people, I make extreme examples. I remember I made a video the other day

00:08:25.100 talking about if you're interested in butterflies, how to make a business out of it. You know,

00:08:28.860 it really does come down to following your passion because when you, and excuse me for like clearing

00:08:34.340 my throat, but I've been sick for like two weeks, but it comes down to following your passion. You

00:08:38.520 know, following your passion is a very abstract thing for most beginning entrepreneurs to put their

00:08:44.920 arms around and to wrap their mind around because it's, it's just, it doesn't make sense. You know,

00:08:50.120 when you're, when you're 18 years old or 19 years old or you're 30 years old and you've got bills to

00:08:54.960 pay and you're like, man, I want to start a business. And someone's like, Oh, let's follow

00:08:58.320 your passion. That sounds like some rainbow bright fucking bullshit. Right. You know, 1.00

00:09:03.360 you're trying to get paid. You've got bills to pay, you know, you've got obligations and that

00:09:07.960 just doesn't sound very practical. And you think, Oh, well, you know, I'm going to do what makes

00:09:11.620 most money. Fuck what I'm passionate about. I want most money. But here's the thing. You know, 1.00

00:09:15.800 when you start out on the entrepreneurial journey, you're not going to make money when you first start

00:09:20.140 the first two, three, four, five years are going to be very hard. And the reason it's important to

00:09:24.900 follow your passion is for two reasons. One, during that process of it being very tough and for it to

00:09:30.680 be difficult on, on, in the beginning, you know, you're going to wake up in the morning and you're 0.97

00:09:35.420 going to say, man, this sucks. I don't have any money in my bank account. You know, my girlfriend

00:09:39.300 just left me cause I don't have any money. I, I can't afford my rent. I'm late on my bills,

00:09:43.840 but fuck, I love what I do. Right. Okay. And that, and that passion and that caring for what you do 1.00

00:09:49.840 and the excitement for what you do is going to carry you through those difficult times

00:09:53.540 to where, you know, you're going to be able to withstand all the other negative aspects of being

00:09:59.040 an entrepreneur in the beginning to get to the point, you know, five, six, seven, eight years

00:10:03.720 down the road where you're actually making great money and you're enjoying your job. You see what

00:10:08.260 I'm saying? Yeah. So, you know, and then the other aspect to that is this, is that to become an expert

00:10:13.500 in something, it's very hard to become an expert in something you're not interested or passionate

00:10:18.500 about. You know, if you're not interested in fitness, don't get into the fitness business.

00:10:23.820 If you're not interested in butterflies, don't start a fucking butterfly website. Right. I mean, 0.99

00:10:28.400 right. It, it just, it's one of those things for you to become the expert you need to become

00:10:32.920 to monetize that idea. You know, you have to be interested in it. You have to be passionate about

00:10:39.260 it. Right. Exactly. It's obsession. I mean, you've done this. Tell, tell people what you think about it.

00:10:45.460 No, I agree a hundred percent. And it's funny because I was just thinking as you're talking

00:10:48.860 about like my journey. Right. And like, I used to remember the days that, I mean, there was a point

00:10:53.780 where, um, I was a bartender, I sold new homes and I used to like think, and I'm like, what is my

00:10:59.160 purpose? I have no idea what I want to do in life. You know, I always knew I wanted something, but I

00:11:02.180 didn't know what. And it's funny because I ended up taking a human biology course in college and like

00:11:06.540 became obsessed with health, started working out, like become obsessed with fitness. Um, it really

00:11:11.820 changed my life. So I decided, okay, well, you know, I want to have a career in fitness, but

00:11:15.620 instead of just being a personal trainer, I decided to just open my own gym, knowing nothing

00:11:18.560 about business or fitness or anything. Right. And, um, just became absolutely obsessed with

00:11:24.020 it. And so that's the thing is like, you have to have the constant desire to keep bettering

00:11:27.780 yourself and like learning more and more. And then I think there's a, there's two parts of

00:11:31.800 that equation. That's the first most important part. Right. I think the second part is, is like

00:11:35.660 having passion is great, but you have to see opportunities as well. So it's like having passion and

00:11:41.060 taking that and turning it into an opportunity, which is, and I think that's where most people

00:11:45.120 struggle. Like we get these questions that, that, that you have here about, you know, how

00:11:51.040 do I know what's right? How do I make my passion into an income? I think that's the connection

00:11:56.560 that most people can't make is how to monetize their passion. It's just like, I was listening

00:12:01.080 to the ebook by Seth Godin and he calls it a rift. Right. It's like seeing that rift and jumping

00:12:05.300 on it. It's like, he talks about Walt Disney did it with like the animation and the theme parks

00:12:09.340 and he saw a need and he took his passion and made it into that need. So it's kind

00:12:13.100 of like morphing what you're doing and jumping in an opportunity.

00:12:15.860 Well, and also you got to realize that you're not going to hit a home run every time. So

00:12:20.860 let's say, you know, you're, you're Walt Disney, right? And you're going to jump in and do the

00:12:25.500 theme parks. He saw the opportunity, but he was already into that business before that ever

00:12:30.760 that opportunity presented itself. So, you know, recognizing the opportunity, like if you

00:12:36.340 wait until you think the perfect opportunity is there to jump into something and get into

00:12:41.340 something, you're, you're too late. Cause there's already people who are in that industry that are

00:12:46.820 knowledgeable and become experts. Three steps ahead. They've already seen that opportunity

00:12:51.400 and probably created it. Yep.

00:12:53.140 So one thing that I noticed about you, Andy, and also you, Teresa, is that I think a lot of

00:12:57.920 people, when they think of entrepreneurial endeavors, they think, you know, they think of innovation,

00:13:02.180 they think of starting something new, but I think what you guys have kind of learned is that you

00:13:06.520 don't have to overcomplicate it. You don't have to come up with some brand new product that nobody's

00:13:10.960 created. You just have to do something you like and something that you're passionate about and then

00:13:15.020 make it exceptional and make it exceptional. Right. Right. Make it better. Right. Make it better.

00:13:18.520 There's two ways to innovate. I mean, there's coming up with something brand new and then there's

00:13:22.700 taking something that already exists and making it exponentially better. Right. You know, and, and that's,

00:13:27.760 I think a lot of people, when they think of innovation, they think of the first way, you know,

00:13:30.620 coming up with something brand new. There's very few things out there that are brand new.

00:13:34.820 There is a fuckload of things out there that need to be improved. Right. So, you know, you need to

00:13:39.260 start thinking about, Hey, that's good. They're doing this pretty good, but I can do it that much

00:13:43.840 better. Absolutely. And I think both of us, I mean, you and I, Teresa and I have built our companies

00:13:49.340 off of that. Yeah. I mean, I didn't invent nutrition. Right. You know, well, look at fitness is,

00:13:54.200 I mean, it's the same thing. It's saturated. Right. Right. Right. So Teresa, my job in the,

00:13:59.280 in the podcast is to restate the obvious for those who were dropped on their heads as kids.

00:14:03.720 But basically what you guys are saying is, is, you know, if you want an idea, start with,

00:14:08.180 what do you like? Yeah. What do you like to do? That's where you got to start. I mean,

00:14:10.800 where are your interests? That's, that is the place to start. And so like,

00:14:13.860 I recently watched a video online of a quote unquote, you know, mentor of the internet. I don't know,

00:14:23.140 but it's like, make your passion money, make your passion money, make your passion money. 0.98

00:14:28.980 Look, everybody's fucking passion is money. If you're an entrepreneur and you say you don't like 0.77

00:14:33.880 money and you're not passionate about making money, you're full of shit, but you have to, 0.99

00:14:38.000 you have to distance yourself from the idea of focusing on the money. Because when you focus 0.99

00:14:42.440 on the money, you make bad decisions. That's right. And the other thing is, is you don't,

00:14:46.840 you only have so much focus and energy in a day. So if you focus on the money all the time,

00:14:52.580 that's focused that you are wasting where you could be focusing on creating something awesome

00:14:57.440 or doing a better job or creating better service or better product that will make you the money.

00:15:02.900 So you have to understand money is a by-product of the quality of the work that you do.

00:15:07.400 Absolutely. You know, so, so, so making your passion the money is probably the dumbest fucking 1.00

00:15:12.840 thing I've ever heard. It's coming from somebody that I, it's clear through my observation. I just 0.99

00:15:21.020 don't think that it was good information to tell somebody, you know, and you have all these guys

00:15:27.280 online selling these online, how to make money fucking quick and this and that and all this 0.98

00:15:32.360 shit. And the reality is that there is no quick way. You know, if somebody tells you I went from 0.98

00:15:37.400 zero to a millionaire in 12 months, dude, they either inherited that shit or they're lying or they 1.00

00:15:43.400 made it by selling you a story about that. Yeah. You know, it's just, it's, it's not realistic, 1.00

00:15:48.760 you know, and, and most people jump from idea to idea, to idea, to idea their whole entire lives

00:15:54.140 instead of just sticking into one, becoming a true expert at it. One of the best in the world and,

00:15:59.180 and, and putting in the work and then letting the rewards come to them, you know, after the,

00:16:03.620 they've invested that time, you know, and I'm going to tell you and any legit entrepreneur 0.99

00:16:08.060 will tell you, you have to put in the fucking work. You've got to be consistent and you have to 0.99

00:16:13.240 be willing to pay your dues. And if you do that, you'll build a viable business. I mean,

00:16:16.240 I was just watched a really cool episode of ask Gary V and you guys, you know, Vaughn,

00:16:21.340 I love Gary, Gary Vaynerchuk. I think he's one of my favorite authors. I think he's awesome.

00:16:26.440 But he would talk, some guy wrote him a question about like, Hey, you know, how do I monetize

00:16:30.460 being on the internet and, and, and just, uh, hang out on the beach all day and like smoke

00:16:35.400 weed. He literally asked this question. Is he from Colorado? Dude, I don't know. But like the

00:16:40.480 point is, it's like, that's the fucking mentality. That mentality is that there's these secret 0.99

00:16:44.680 ways to make money. When, and, and his answer was perfect. He's like, man, you know, like

00:16:49.200 there's like out of a thousand people, there might be one guy who did that. And, and that

00:16:54.200 guy probably put five or six years of hard ass work to figure out how to do that passive

00:16:57.880 income. Right. You know what I mean? Right. And then on top of that, he's probably selling

00:17:02.540 you the program and make it a lot more money. Right. You know, it's just, it's not a realistic

00:17:08.000 thing, man. So you're better off just saying, Hey, all right, you know, what am I, what am I

00:17:12.880 interested in? I'm interested in X. I'm going to become an expert X. I'm going to figure

00:17:17.580 out how to monetize X. Right. You know, and you know, that term passive incomes even, well,

00:17:22.960 that, I mean, it doesn't, I understand the use of it, but it doesn't, it doesn't account

00:17:28.080 for how much work went into getting to that point or, or even, no, that was the point of

00:17:32.000 what Gary said on his thing. Yeah. It's like, it's not, it didn't account for, you know, the

00:17:36.820 years of expertise, studying work that went into figuring that out. And like in, in these

00:17:42.100 guys, they get online and they, they sell these kids, these kits like, Hey, buy my kit 0.97

00:17:46.780 for $200 and I'll show you how to fucking, you know, make this much money. It's like, 0.95

00:17:52.700 dude, you're making all your money. I'll sell in the fucking kit. Right. You know, I don't 1.00

00:17:58.340 know. I would just hope that people listening to the show will listen to me, listen to the

00:18:02.980 people that we bring on the show. And then the fact, and we're getting a little off track,

00:18:05.700 but the point is, is like, dude, invest yourself now in this passion, you know, learn about

00:18:10.840 what it is you're interested in, become an expert. Right. You know, and by the time,

00:18:15.480 you know, five, six years from now, you know, it took me a long time, but you got to remember,

00:18:19.040 I built my business before the internet was really some like a huge thing. Right. You know,

00:18:23.600 so it took me longer. Now you have more opportunity to go quicker because there is

00:18:27.600 other tools. There's, there's instant access to everything now. So where it took me 10 years to,

00:18:33.400 you know, buy my first Lamborghini, it might take you five. Right. Because technology is

00:18:36.820 different now. Right. But fuck five years. That sounds like a good deal to me. Right.

00:18:40.760 Five years and then do whatever the fuck you want. We talked a little bit about passion, 0.99

00:18:44.140 right? You've got to be interested in it. Teresa, you even said, you know, that's what you became

00:18:47.280 obsessed with. I know you're obsessed. You still yell at me. I want to add something to

00:18:50.660 when you're every time you see me drink a diet Coke, she yells at me. Oh yeah. Cause there's so 0.94

00:18:54.400 many chemicals in there. I'm like, fuck, I'd be dead anyway. I think there's a third point that we 1.00

00:18:57.820 didn't talk about with that too. What's that? I kind of want to touch on. I think like when you're

00:19:01.580 backtracking, huh? Just for like a nanosecond. Cause I think it's super important. Okay. As you

00:19:06.140 know, like whenever you're starting any kind of a startup, unless you're like massively funded,

00:19:09.960 a big part of it is getting people to believe in you and selling your X, whatever it is,

00:19:15.100 your product, your service, your business, whatever. And the way that you can successfully

00:19:19.640 sell that is by believing in a hundred percent and you don't, you're not going to believe in it and

00:19:23.480 be able to communicate that passion or that, you know, belief unless you are passionate about it.

00:19:28.260 Yeah. And it's like, they say basically sales is the, you know, I guess transference of emotion

00:19:34.680 and passion. And that's exactly why people who are like Uber passionate and obsessed with something

00:19:39.840 can sell it so great and you can get people to believe in you. And that's how you can really

00:19:43.420 build a great company. At least that's how I agree. That's how I've been super successful

00:19:47.120 because I'll tell you, nobody gave me a big check to start businesses. It's about getting a team of

00:19:50.520 people that really believe in you and it starts with you. And a lot of times, a lot of times those

00:19:54.820 people work for you for free. Absolutely. That's what I'm saying. But you

00:19:58.160 believe in yourself and what you're doing. You love it so much. It, the energy.

00:20:01.180 Dude, I've got guys here. I have guys here in this office, in this building. That's such a great

00:20:05.840 point. But I have people in this building, including my brother who left his job at Johnson and Johnson,

00:20:12.900 a fortune 500 company. He was the number one salesperson on earth in their company for three

00:20:19.200 years straight, left his job, took a 50% pay cut to come work at first form because he believed in it.

00:20:26.400 Absolutely. Because you believed in it. Right. And there's people in this building,

00:20:30.080 there's other people in this building who have worked here for 10 years and now they're getting

00:20:35.880 paid what they should get paid. But they worked for a long time for less than that because of what

00:20:42.940 you're talking about. Absolutely. And I'm not saying that because you want to take advantage of people.

00:20:48.340 No. I'm saying that because it's fucking necessary for everybody to sacrifice to build something great. 0.91

00:20:53.680 That, that, that was my point is I just think that's such a huge component because people could 0.87

00:20:58.040 have a great idea and be passionate, but if you can't get a team of people to help you,

00:21:00.740 unless you have somebody literally writing checks to you, it's going to be hard to make it on your

00:21:05.200 own. I mean, you have got to rally these people. You have to inspire them. They have to believe in

00:21:08.220 you and they have to know you have an unrelenting passion and desire to make work. And if they

00:21:12.660 believe in you, exactly. And they can read it if it's fake too. If it's not genuine, no one's going to do

00:21:17.860 anything that, no one's going to buy in. So it's just to me, like when we were talking to him like that.

00:21:21.360 Six months from now, you'll see that dude at dinner and be like, what happened to that idea?

00:21:24.380 Exactly.

00:21:24.740 Oh, it didn't, it didn't work out.

00:21:26.280 Because the passion was probably because they thought they can make a buck.

00:21:29.240 Exactly.

00:21:29.800 Right.

00:21:30.140 Right.

00:21:30.540 I mean, I wrote an article about you and here I am.

00:21:34.360 Yeah.

00:21:35.060 I mean, yeah, exactly.

00:21:37.480 I mean, the thing is, is that, you know, anybody who says the passion is not a big aspect or a

00:21:45.340 starting place for an idea, they're not getting the concept of true entrepreneurship.

00:21:49.900 Right.

00:21:50.120 That's it.

00:21:50.900 I mean, you have to take what it is that you love and you have to figure out how to become

00:21:56.480 an expert at that, which if you love it, that's going to be easy because you're probably already

00:22:00.040 an expert.

00:22:01.020 And a lot of people get hung up, I think, because they know so much about something, but then,

00:22:06.060 and there's two kinds of people, you know, there's, there's people who, you know, they

00:22:09.880 know so much about something, but refuse to accept the idea that they're an expert.

00:22:13.560 They're like overly humble.

00:22:14.920 Um, and then there's people who don't know very much and think they're an expert.

00:22:21.880 And, you know, so you have to be able to differentiate yourself and, and, and step outside of your

00:22:27.580 own body and become self-aware of like, where do I really fall and how much do I have to

00:22:32.140 learn to become one of the best?

00:22:33.840 Right.

00:22:34.300 You know, so, I mean, that's an important aspect, but I think, you know, most people

00:22:40.620 in this position, okay, like, let's say, all right, they've been listening to podcasts.

00:22:44.020 All right.

00:22:44.160 I'm passionate about, you know, X, how am I going to turn that into a business?

00:22:49.660 Because some things that people are passionate about are, they're difficult to turn into

00:22:53.560 a business.

00:22:54.040 Um, for example, you know, I, I, I take guitar lessons.

00:22:58.880 I've been taking guitar lessons, 30 years old.

00:23:00.880 Um, my friend who, who has become a really good friend of mine, he's a guitar teacher.

00:23:05.440 Uh, you know, let's, he, he makes his money teaching guitar lessons.

00:23:09.780 Uh, you know, over the course of time, we become good friends and we talk and, you know, a lot

00:23:14.060 of times we talk more than we practice.

00:23:16.140 Um, and we ended up talking about business cause he's interested in, in, in becoming, you know,

00:23:22.080 uh, a real business, not just him teaching somebody.

00:23:25.660 Right.

00:23:26.200 And so we talked and over the course of the last two years, we've come up with different

00:23:31.200 ideas and this and that.

00:23:32.320 Now he's got a website that he, you know, he, he subscribed, people subscribe to that

00:23:36.780 he teaches people from all over the world, um, in groups.

00:23:40.180 It's like in groups at a time.

00:23:42.440 Wow.

00:23:42.840 And he's doing really well.

00:23:43.940 And he's able to do that even though he can't do that, you know, in person with the tactile

00:23:47.700 type stuff.

00:23:48.560 No, no, no.

00:23:48.740 Yeah, he doesn't.

00:23:49.220 Wow.

00:23:49.620 And then he's got courses that he sells now and he's got.

00:23:52.080 He's all these, uh, all these different things, these products that he's created

00:23:55.660 out of his.

00:23:56.560 Exactly.

00:23:57.040 Yeah.

00:23:57.160 That's perfect.

00:23:57.780 Right.

00:23:58.140 And that's when I think of like, cause the reason I bring that example up and the reason

00:24:02.260 I liked that example is because like when he first said, man, I don't know how to make,

00:24:05.560 you know, this into a business, like a real business.

00:24:08.560 Like I didn't have an answer for him.

00:24:10.940 I'm like, I don't know.

00:24:11.960 You know, and we just kind of worked it out over time.

00:24:14.040 But it's great because when you hear a guitar player, you don't think entrepreneur.

00:24:16.880 No, but that's exactly what he did.

00:24:18.500 Right.

00:24:18.640 Exactly.

00:24:19.140 Yeah.

00:24:19.320 And, and so, you know, the example I use, I made a YouTube video the other day and I

00:24:24.300 talked about, I use butterflies as an example because like, how do you turn up your passion

00:24:28.820 about butterflies?

00:24:29.720 How do you turn it into a business?

00:24:31.020 I mean, I can't think of anything that would be like tougher than that.

00:24:33.000 Like I'm going to fucking make a business out of butterflies, but here's the, here's the 0.78

00:24:36.420 way it works. 0.96

00:24:37.300 The way it works is this.

00:24:40.080 You're passionate about butterflies.

00:24:41.820 You know, everything about butterflies, you know, the weight, you know, their origin, you

00:24:45.920 know, where they live, you know, the colors, you know, the patterns, you know, every different

00:24:48.920 type.

00:24:49.720 Okay.

00:24:50.080 You're probably a top 1% of people that know butterfly stuff.

00:24:54.200 All right.

00:24:55.180 How do you turn it into a business?

00:24:58.260 You know, so that's the question.

00:24:59.900 I have the best example for this because every time I watch, it just astounds me.

00:25:03.840 Do you ever watch like, what are those, the TV shows like the reality, the Pawn Stars or

00:25:08.780 whatever, when the people come in to like value the stuff, it's like the expert of weaponry

00:25:14.420 from like so and so.

00:25:15.540 So it's like, who, who is this person?

00:25:18.340 And they get paid a ton of money to do this.

00:25:20.420 It's like the most random insignificant that you would never even know.

00:25:23.260 And they're a complete expert.

00:25:24.440 And so you'll pay them tons of money to come in and like appraise these things.

00:25:26.460 Well, yeah.

00:25:27.000 I'm like, he turned it into a business.

00:25:28.560 His obsession with whatever it is.

00:25:30.100 So that comes from that, that comes from the idea of the masses.

00:25:35.660 Okay.

00:25:35.840 So like people think that they have to have the attention of the mass majority of people

00:25:40.900 to make a successful business.

00:25:42.360 You don't.

00:25:43.160 And actually.

00:25:43.820 You're far better off.

00:25:44.460 Exactly.

00:25:44.860 Finding a niche.

00:25:45.800 Finding a niche.

00:25:46.200 Right.

00:25:46.800 We talk about this all the time.

00:25:47.680 Yeah.

00:25:48.080 But, you know, with the butterfly thing, I mean, you know, like I said in the video the

00:25:53.040 other day, I was like, okay, you start a website, you start a blog about butterflies.

00:25:57.420 Other people who are not as knowledgeable about butterflies, but want to learn about butterflies

00:26:01.080 come to your website.

00:26:01.980 All of a sudden, you've got enough traffic to where you can start selling some ads on your

00:26:05.220 website.

00:26:05.820 All right.

00:26:05.960 Right.

00:26:06.240 Now, you decide you want to make butterfly can koozies and you can make the can koozies because 0.88

00:26:11.640 everybody who loves butterflies wants butterfly can koozie.

00:26:14.280 Right.

00:26:14.460 You know, of course.

00:26:15.740 Duh, who doesn't want one of those?

00:26:16.780 Of course.

00:26:17.180 Right.

00:26:17.720 Then you can make, you know, car covers for your garage.

00:26:21.340 So when you open up your garage, you've got like two butterflies in your garage.

00:26:24.240 Right.

00:26:24.440 You know, then you can, you know, make butterfly snuggies. 0.99

00:26:29.280 You know, so that when you lay on the couch, you can sell all this shit on your website. 0.99

00:26:32.680 All of a sudden, you've got a business. 0.99

00:26:34.460 You know, that's how it works.

00:26:35.660 So like when people think like they come and they say, Andy, I don't know where to start.

00:26:39.940 And I say, well, what are you passionate about?

00:26:42.100 That's what I'm talking about.

00:26:43.260 You can literally turn almost anything into a business.

00:26:45.480 It's just connecting the dots from A to Z.

00:26:48.580 And that's what I hope that you guys can take away from what we're talking about now.

00:26:53.040 It's not necessarily that, you know, you don't have to have something that every single person you know is going to buy.

00:26:58.440 Right. 1.00

00:26:58.540 If you're interested in it and you love it, there's other people just like you that love that same shit. 1.00

00:27:03.140 Guaranteed. 1.00

00:27:03.660 Right.

00:27:04.380 Guaranteed.

00:27:04.740 Right.

00:27:05.280 And that's all you need.

00:27:06.560 Right.

00:27:06.760 You could build a hell of a business like that.

00:27:08.920 And you just, you know, will you ever be Microsoft?

00:27:11.060 No.

00:27:11.400 But you might be able to, you know, you could easily earn six figures a year doing a niche business like that.

00:27:17.160 Right.

00:27:18.600 So we've been talking about principles.

00:27:20.660 I would be very interested to hear about method.

00:27:24.400 Okay.

00:27:24.680 Because I know you read a lot.

00:27:26.340 I know you probably think a lot.

00:27:28.640 You mean like coming up with ideas?

00:27:30.060 Yeah.

00:27:30.340 Like literally.

00:27:30.900 Am I jumping the gun here?

00:27:32.240 No.

00:27:32.460 Because I've been reading a lot.

00:27:34.440 I mean, probably the best compliment.

00:27:36.880 Well, Teresa, like when you started the Keating Boss Fitness, I mean, how did that come from, you know, passion to idea to business?

00:27:48.000 Oh, gosh.

00:27:48.760 Well, and when you were just talking, I was actually thinking about it because it's funny.

00:27:51.580 I think another trait of a successful entrepreneur is even if you have an idea and you try it and it doesn't work really well, you adapt right away.

00:27:57.500 Right.

00:27:57.680 And you figure out what works to turn your passion into a business.

00:28:00.380 Right.

00:28:00.580 Because you may start with the one thing.

00:28:02.360 It's a constant process of testing.

00:28:03.980 Of figuring out what works.

00:28:05.400 And so this is kind of like, I ended up, you know, having my gyms and to be just perfectly honest with you, it was way too much work.

00:28:11.520 I had two babies in between and I was, you know, had the baby on the gym.

00:28:14.100 It didn't work out the way that you wanted to, but how much did you learn?

00:28:16.920 Oh, a ton.

00:28:17.560 And honestly, well, that's a whole other podcast about failing and how much you learn from it.

00:28:21.620 Because I could never be where I am today without that.

00:28:23.680 Exactly.

00:28:24.120 But end of the short is I ended up learning a ton.

00:28:27.260 Exactly.

00:28:27.740 And, you know, taking about a year off, I wanted to start another business.

00:28:30.020 And I kind of fell into this because it's so funny, like, when you're talking about back when I used to, like, not know what I was going to do.

00:28:35.920 I was obsessed with fitness.

00:28:37.120 I owned the gyms.

00:28:37.720 It was great.

00:28:38.300 Da, da, da, da.

00:28:38.880 Well, all of a sudden, I started becoming popular on social media.

00:28:41.880 And I became this, like, fitness person that everybody came to for advice.

00:28:45.680 And so I started, I'm like, okay, well, I should really start turning this into a business now.

00:28:49.480 Because people are coming to me for advice.

00:28:50.840 I can create programs.

00:28:51.640 I can do online training.

00:28:53.300 And then what I found is it's kind of, like, where I'm at the process now is, like, even that's evolving.

00:28:57.920 So, you know, people are getting tired of the online training.

00:28:59.560 So how can I fulfill their needs?

00:29:01.180 Like, what's missing?

00:29:02.240 Taking a look at, you know, how can you make it better?

00:29:04.200 How can you be exceptional?

00:29:05.540 And that's kind of where I'm at now.

00:29:06.660 So it's always, always, always a process.

00:29:08.780 And you start at one place, and you could end up at a completely different place.

00:29:12.140 So.

00:29:13.080 You think most people think of the process as almost like it's being on a train, and you just have two tracks that you have to follow, whereas it's really more like a dune buggy.

00:29:20.760 I think a lot of people do.

00:29:21.400 It's more like hop in, go, and you can turn.

00:29:23.180 I agree.

00:29:23.740 Yeah.

00:29:23.980 They're just like, oh.

00:29:24.780 I agree.

00:29:25.300 I don't know what to do.

00:29:25.820 Instead of just starting, they overanalyze, and they think they have this perfect recipe. 0.99

00:29:29.860 The best thing you can do in entrepreneurship is fucking just do it. 0.99

00:29:32.760 Yeah. 0.99

00:29:33.160 Absolutely.

00:29:33.900 Just even if you don't.

00:29:34.480 Figure it out. 0.97

00:29:34.940 Look, nobody knows what the fuck they're doing when they start. 0.98

00:29:37.180 No. 0.97

00:29:37.240 No.

00:29:37.480 When I started supplement super stores in 1999, I can remember, I can remember, like, this is weird, but I can remember, like, actually, customers, like, legit transactions that I had.

00:29:48.580 And I remember one of the first two or three days, you know, we didn't have much people, many people coming in.

00:29:54.780 And I had a guy come in and ask for a product, you know, it was called Celltech, and it's made by a company called Muscletech.

00:30:01.340 And this guy comes in, and he's like, well, what's this for?

00:30:04.560 I didn't fucking know what it was for. 0.61

00:30:06.180 It was just there. 0.98

00:30:06.880 Like, so I, like, took the product, I started, like, reading it.

00:30:10.420 I'm like, well, here it says, you know, it says this is this is this is this.

00:30:13.900 You know what?

00:30:14.540 The guy bought it.

00:30:15.800 And you know what? 1.00

00:30:16.620 The next time somebody came in, I knew what the fucking shit was for. 1.00

00:30:19.160 Exactly. 1.00

00:30:19.620 Experience.

00:30:19.860 All right?

00:30:20.500 Yeah.

00:30:20.820 So I didn't know anything.

00:30:22.180 And now, you know, depending on who you ask, I suppose, I'm probably one of the biggest experts in the world on this industry.

00:30:30.020 Right.

00:30:30.360 You know?

00:30:30.760 I mean, I'm not tooting my own horn, but it speaks for itself.

00:30:33.700 I think people think they need the plan when they just need a plan. 0.99

00:30:37.180 What you need is you need to fucking start. 0.99

00:30:39.320 Yeah. 0.99

00:30:39.560 Exactly.

00:30:39.660 And then what you need is you need to-

00:30:41.660 Keep going.

00:30:42.060 Keep making mistakes.

00:30:43.040 Yeah.

00:30:43.320 And realize every time you make a mistake, that that's a part of your education.

00:30:48.360 Right. 0.97

00:30:49.000 You know, instead of, like, going and getting a fucking PhD in entrepreneurship, no, make a lot of mistakes. 0.99

00:30:53.660 Mm-hmm. 0.98

00:30:54.180 Because that'll get you your PhD in entrepreneurship.

00:30:56.460 Mm-hmm.

00:30:56.740 And that's where people don't, they don't get it.

00:31:00.620 They think, like, oh, I made a mistake today that cost me $100.

00:31:04.060 Well, dude, you know what?

00:31:05.160 That same mistake in 10 years cost you a million.

00:31:07.380 Right.

00:31:07.940 Or 10 million.

00:31:08.820 Mm-hmm.

00:31:09.160 So be glad that you learned and don't do it again. 0.95

00:31:12.180 And once you make enough of those mistakes and you do enough shit wrong, eventually all that stuff compiles together. 0.93

00:31:18.260 And it works. 0.90

00:31:18.920 Yeah.

00:31:19.780 Exactly.

00:31:20.180 It clicks.

00:31:20.720 Yeah.

00:31:20.840 So, Teresa, going back to you, though, in terms of just real nuts and bolts, I'm curious.

00:31:24.460 Like, did you, were there times where you literally sat down in a Starbucks or wherever and, you know, you had a notebook and you just wrote out all your ideas?

00:31:32.860 Andy, how did you do it?

00:31:33.860 I mean, how did you, what's your thought?

00:31:35.460 I mean, I definitely, how do you work out your thought process?

00:31:38.300 Yeah, I actually think this is good because I think her and I do it different.

00:31:43.080 So this would be a good thing to bring up.

00:31:45.000 For me personally, like, ideas come from, I read a lot.

00:31:49.680 I read a book a week.

00:31:50.540 I've read a book a week since I started in business.

00:31:54.800 I get a lot of ideas from books.

00:31:56.460 So, like, for me to get my idea, you know, juices flowing, I read, okay?

00:32:02.620 Do you usually have a pen in your hand or are you just mentally interacting?

00:32:04.900 I actually put my notes in my notepad on iPhone.

00:32:08.600 Yeah.

00:32:09.760 But I get, you know, I get my juices going, I read, I take things that people have done in other industries and I figure out how they can apply to our industry.

00:32:19.100 And that's how I come up with my ideas.

00:32:20.820 You know, I look for problems that need solutions.

00:32:25.440 And I look for opportunities to do things better constantly.

00:32:28.860 You know, like, when I go to dinner, you know, if we go out to dinner and a restaurant does something that I don't think is right, I take note of it.

00:32:40.580 You know, it's annoying.

00:32:41.860 It's kind of annoying to go to dinner with me, you know?

00:32:44.440 Like, because I'm always pointing out, like, hey, they should be doing it like this.

00:32:46.760 They could be more efficient.

00:32:47.560 Right.

00:32:47.860 They should be doing it like this.

00:32:48.840 Right.

00:32:48.940 And I make that, that's a part of who I am now.

00:32:52.320 Right.

00:32:52.540 Because I've been doing it for so long.

00:32:53.880 Yeah.

00:32:54.200 So, like, anytime I see something that can be done better, I automatically, like, look at that solution, even if it's not in our business.

00:33:01.160 Right.

00:33:01.340 So, I think, you know, as far as, like, idea generation, you know, I'm just constantly filling my mind with thoughts.

00:33:11.760 Right.

00:33:12.160 And it just keeps it moving.

00:33:13.580 Well, but what's funny is that there's this, I brought this in today, it's a technique for producing ideas.

00:33:19.220 There's, like, millions in print.

00:33:20.980 It's by a guy named James Webb Young.

00:33:23.020 You just actually articulated his first point, which is just constantly be gathering data.

00:33:27.620 Right.

00:33:27.780 Constantly be, like, gathering material in your mind.

00:33:31.500 And I think a lot of people, you know.

00:33:32.800 Reading.

00:33:33.260 A lot of people are looking for this thing.

00:33:35.180 Like, I'm going to come up with this idea, and I'm going to execute this idea, and I'm going to start this business.

00:33:43.720 I'm going to do this, and everything's going to work out.

00:33:47.180 And then the rest of the time, they're going to go play video games.

00:33:50.720 Yeah.

00:33:51.020 It's just not how it works.

00:33:51.980 Yeah.

00:33:52.180 I mean, if you're not going to immerse yourself in the process of being a business, of being an entrepreneur, you're not an entrepreneur.

00:33:58.920 Yeah.

00:33:59.160 And you never will be.

00:34:00.060 Yeah.

00:34:00.560 You know, you either are or you aren't. 0.98

00:34:02.620 And if you think that this is going to be, like, a quick little journey down the fucking railroad tracks, and then you're going to find the pot of gold. 0.98

00:34:11.660 You know, dude, it's not like that. 0.98

00:34:13.100 Right.

00:34:13.280 It's constantly learning, constantly evolving.

00:34:17.200 You get knocked down.

00:34:18.120 Yes.

00:34:18.320 Stand back up.

00:34:19.080 Yeah. 1.00

00:34:19.420 Dude, you get knocked down every fucking day. 0.99

00:34:20.700 Even when you're, like, on the ride, and everything's going great, then it's like, doosh. 1.00

00:34:24.140 Yeah.

00:34:24.660 Right.

00:34:24.980 But I love your statement just about reading.

00:34:28.400 And I know Jeffrey Gittimer had a sales guy.

00:34:32.020 I know you like some of his stuff.

00:34:33.320 He had a great post on social media on his Instagram the other day.

00:34:36.280 It was, if you want to be wealthy, you have to have a wealth of knowledge, you know, and just the importance of reading.

00:34:41.520 Although, Kim Kardashian's an exception to that, and there are some.

00:34:45.540 Or a sex tape.

00:34:46.480 Yeah. 1.00

00:34:47.780 Slash sex tape. 0.99

00:34:48.560 Right. 0.99

00:34:49.060 Right.

00:34:49.660 So, Andy was saying that you do things differently, Teresa.

00:34:53.080 How did you process the whole idea?

00:34:55.020 To be quite honest with you, I'm actually very similar to him in nature, is what you're talking.

00:34:57.980 I thought you were talking about more the second step, which is after you have an idea, like, how to actually bring that into fruition.

00:35:04.080 No, I'm actually talking about, you used the example, or the, excuse me, the phrase, idea generation.

00:35:08.660 Yeah.

00:35:09.020 Oh.

00:35:09.600 Working through that.

00:35:10.040 I'm very similar.

00:35:10.900 In fact, it's funny, because sometimes I get, I almost have to stop reading books, because I get so many ideas.

00:35:17.220 I can't even, I have to, like, shut it off.

00:35:18.940 Right.

00:35:19.160 Yeah.

00:35:19.320 So, I do the same thing.

00:35:20.200 In fact, I was just doing it on the airplane.

00:35:21.360 It's like, and it could be for my business.

00:35:23.280 It could be for a new business.

00:35:24.160 It could be for something completely different.

00:35:26.080 But literally, I just get so many ideas, and I keep track of them.

00:35:28.500 And then, if it's something amazing, I jump on it.

00:35:30.940 If it's something that I think for my business, obviously, I start working to implement that.

00:35:34.120 Right.

00:35:34.500 But it definitely just gets my brain going.

00:35:37.140 It's, I'm exactly the same way.

00:35:38.540 Okay.

00:35:39.000 So, you don't write things down, because I find that extremely helpful.

00:35:41.280 Second step.

00:35:41.840 No, if I have an idea that I want to implement, then, as far as, like, strategizing, then I absolutely have to go and do, like, an outline, an agenda, how I'm going to itemize it, a task list.

00:35:51.200 That's what I meant.

00:35:51.820 I didn't realize you meant idea generation.

00:35:53.280 No, I've been doing this thing for years.

00:35:55.460 It's called free writing, where you literally just take, you know, a notebook, and you write down literally anything that comes to your mind, and you don't censor yourself.

00:36:03.520 You just write, write, write, write, write.

00:36:04.980 And there's a great book called Accidental Genius by Mark Levy that talks about how that's really helpful in idea generation.

00:36:11.920 So, that works for me.

00:36:13.360 I don't know that everybody has to use a pen and paper or whatever, but getting ideas down on some form of, you know, whether it's a computer or whatever, I just think it's really helpful.

00:36:22.260 See, I mean, for, I know for Andy and I, because we've talked about this before, it's just like when we went to dinner that one time, it's like there's no shortage of amazing ideas.

00:36:28.340 It's like we could come up with 10 ideas right now at this table in five seconds that we could turn to a business.

00:36:33.240 Right.

00:36:33.460 But it's having the time and to be able to realistically do something successful.

00:36:38.140 We all know that we only have so much time in the day.

00:36:40.140 Yeah, but that is a product of constantly being in that state for years and years and years.

00:36:44.420 And you're seeing opportunities.

00:36:45.560 Right.

00:36:45.700 So, where a beginning entrepreneur, they might not see any ideas, and they might not see any, you know, opportunities, because they're so blinded by the money thing.

00:36:58.060 Stop thinking about the money and start thinking about solving people's problems or how things can be done better.

00:37:03.620 I think the fear.

00:37:04.720 I mean, I know you've talked a lot about that in your podcast, but I think that paralyzes people, too.

00:37:08.260 It's like they have an idea, and if they could just get rid of the fear and just jump on it and do it, then.

00:37:13.760 Well, and that's the fear is, right, what's the fear?

00:37:16.060 The fear is, oh, it's not going to work out.

00:37:18.420 Ridiculed, failing.

00:37:19.360 Yeah, people are going to laugh at me. 0.86

00:37:20.200 I'm going to be embarrassed.

00:37:21.100 Yeah.

00:37:21.340 I'm going to be blah, blah, blah.

00:37:22.380 But here's the truth of that fear.

00:37:24.220 The truth is this.

00:37:25.560 What are you more afraid of?

00:37:26.820 Are you more afraid of getting, you know, failing a couple times?

00:37:30.040 Are you more afraid of staying exactly where you are for the rest of your life?

00:37:34.080 Right.

00:37:34.760 You know what I mean?

00:37:35.380 And I think that's something that people need to think about.

00:37:38.640 I also think that people need to also think about, you know, the fear thing.

00:37:45.440 I'm a big believer that you can make anything work, anything work, as long as you're willing to pay the price to make it.

00:37:51.760 If you believe in it and you work hard, absolutely.

00:37:53.720 That's interesting because something that crossed into my brain when the people ask, you know, is this a million dollar idea?

00:38:00.800 You would probably.

00:38:02.040 I think anything could be a million dollar idea.

00:38:03.380 Yeah.

00:38:04.080 You make it a million dollar idea.

00:38:05.500 Absolutely.

00:38:06.260 There's no easy way.

00:38:07.560 No.

00:38:08.100 When people ask that question, I understand what they're asking because I remember what it's like to think that way.

00:38:12.580 Yeah.

00:38:12.740 You know, my whole life I grew up wanting to be in business.

00:38:15.600 You know, from the time I was eight years old, I was selling, you know, baseball cards and light bulbs and popsicles and shit like that.

00:38:23.900 You know, I've always been interested in business. 0.65

00:38:25.800 Yeah.

00:38:25.900 But the thing is, is that I remember what it's like to look for that, like, I used to always look for that quick, not quick money, but like, this is for sure a million.

00:38:38.140 Like, it's like this home run idea. 0.97

00:38:39.560 Like, like, I don't know, like fucking light bulb. 0.99

00:38:43.280 You know, like, oh, I invented the light bulb. 0.99

00:38:44.680 Yeah.

00:38:45.060 You know, I look for these massive ideas.

00:38:47.440 Started the internet.

00:38:48.140 Right.

00:38:48.300 Yeah, exactly.

00:38:49.380 And I think a lot of entrepreneurs get in that mindset of we're going to think of the world's greatest idea.

00:38:56.100 But the problem is, is that those ideas, while they do come around and people do have them, they're very uncommon.

00:39:05.460 Right.

00:39:05.620 So if you sit around and try to think of that kind of idea before you ever jump into business, you're never going to get into business.

00:39:10.820 You never do anything.

00:39:11.480 Right.

00:39:11.740 And I don't care what you say.

00:39:13.020 The inventors of the Snuggie did not say, this is a million dollar idea.

00:39:16.200 And yet they probably made it.

00:39:17.000 They made it.

00:39:17.560 Oh, yeah.

00:39:17.980 The pool noodle.

00:39:19.140 The pool noodle.

00:39:19.760 There you go.

00:39:20.600 Yeah.

00:39:21.440 Yeah.

00:39:21.680 Dude, there's so many things.

00:39:23.080 Yeah.

00:39:23.440 I mean, there's so many things that could be made into successful ventures.

00:39:28.480 It's just, it's deciding.

00:39:30.880 It really is.

00:39:31.820 It's following what it is you're passionate about. 0.99

00:39:34.940 It's deciding that we're going to make this a business and we're going to make it work and not deviating from that fucking plan. 0.99

00:39:40.540 And acting. 0.99

00:39:41.060 Exactly.

00:39:41.320 Just doing things.

00:39:42.340 Well, so with that being said, though, obviously, you want an idea that has some viability.

00:39:48.340 So how did you guys go about deciding, okay, my idea is viable.

00:39:52.580 Well, are other people doing what you do?

00:39:54.100 Okay.

00:39:54.620 That's point number one.

00:39:56.120 Yeah.

00:39:56.180 Is there a need, really?

00:39:57.440 Is there a market?

00:39:58.100 Is there a need?

00:39:58.740 Yeah.

00:39:58.960 Is there a need is part of the equation, but it's also, if there is a need that's being fulfilled, how could you do it differently or better?

00:40:05.180 Right.

00:40:05.420 Yeah.

00:40:05.500 To make yourself more exceptional or remarkable.

00:40:08.660 Right.

00:40:08.800 Yeah.

00:40:09.780 I actually am ashamed to say that I just learned this principle a couple years ago, which was, I used to think, well, if I write this book, but there's so many books on this until somebody said, yeah, that means there's a market for it.

00:40:19.880 Right.

00:40:20.080 You know, and I think people think that sometimes they think, well, if I do this, there's all these other people that are doing the same thing.

00:40:25.620 Well, good.

00:40:26.140 That means there's a market.

00:40:27.320 Well, how are you going to write a better book?

00:40:28.700 Yeah.

00:40:28.980 How are you going to write a better book?

00:40:30.060 Or maybe what's the particular angle?

00:40:31.700 I'm going through that right now.

00:40:32.140 Yeah.

00:40:32.400 Right.

00:40:32.820 Yeah.

00:40:33.000 What are these books lacking that I could provide?

00:40:35.020 Yeah.

00:40:35.440 You know, you look for the problems.

00:40:36.580 What's going to make your book stand out?

00:40:37.500 Exactly.

00:40:37.960 Right.

00:40:38.500 Right.

00:40:38.520 Right.

00:40:39.160 That's, I think all good entrepreneurs are very, very good and skilled at seeing the problems in the products.

00:40:47.620 You know, they see the problems in the service.

00:40:49.300 They see the problems in the business model.

00:40:51.700 Right.

00:40:51.860 You know, and that's, I mean, that's how I live.

00:40:56.420 Yeah.

00:40:56.540 You know, I see the problems.

00:40:57.880 I see the problems in our industry.

00:40:59.160 I see the problems with, you know, the protein products that are manufactured for human consumption.

00:41:03.420 I've made a living off of that.

00:41:05.160 Yeah.

00:41:05.400 You know, people just don't, they don't, they're looking in the wrong places.

00:41:12.200 You know, when you start out, you're always looking, like I said, for that light bulb idea.

00:41:16.560 You know, no.

00:41:18.040 You know, what are you, what do you love and how can you monetize that?

00:41:21.500 That's where you need to start looking.

00:41:22.780 Not, not looking to like, you know, invent Facebook.

00:41:26.120 Right.

00:41:26.500 You know, I mean, and there's people that do that, but they've also been in that industry or in that sector doing other things for a long, long time.

00:41:36.100 Right.

00:41:36.500 You know, to become the expert to do things like that.

00:41:39.620 Right.

00:41:39.860 So I'm going to take this moment and we're going to break from this compelling and captivating conversation to tell you a few things.

00:41:46.560 Number one, we're like, like I said, we're, we're still fairly new to this podcast thing, but we are, we are available on iTunes.

00:41:53.240 Obviously, we're, most of you are probably listening to us, but we're also available on Stitcher and SoundCloud.

00:41:58.140 And of course, you can always go to the MFCEO.com and there you'll find, you know, back episodes.

00:42:05.540 You'll find some, some of Andy's blog posts as well as some other material that can really help you succeed in business and life.

00:42:12.160 We're here to serve you guys, you know, the purpose of this podcast is to give you guys information that you can use to build your own business, to give you information to help you stay motivated and just give you the truth.

00:42:24.460 So if you guys have real questions, you send them over and we'll hit them.

00:42:27.300 You know, we're, we're, we're constantly looking to answer these questions.

00:42:32.280 So send me the questions, you know, and I'll get back to you or I'll cover, cover the information on the show.

00:42:38.560 Right.

00:42:39.920 Right.

00:42:40.280 You know, you can hit me up on Instagram.

00:42:42.360 It's, uh, at Andy Frisella.

00:42:45.100 Uh, I'm on Snapchat too.

00:42:46.800 MFCEO dash one.

00:42:48.580 Um, Teresa, where's your, uh, where people can find you at?

00:42:52.420 Uh, my Instagram is bikinibossteresa.

00:42:54.980 So T-H-E-R-E-S-A. 0.99

00:42:56.860 Yeah.

00:42:57.180 And are you on Snapchat?

00:42:58.200 I am.

00:42:58.720 Okay.

00:42:59.920 Bikiniboss. 0.86

00:43:00.400 Bikiniboss. 0.86

00:43:00.560 Okay.

00:43:00.880 I am not on Snapchat, but I am on Instagram at Vaughn Kohler.

00:43:04.920 Not going to jive into Snapchat quite yet.

00:43:07.220 It's boobie free Snapchat.

00:43:10.280 It's not what you think.

00:43:11.460 I'm sure.

00:43:12.160 No.

00:43:13.280 Uh, so anyway, guys, um, Teresa, thanks for being on the show.

00:43:18.080 Appreciate it.

00:43:18.640 Thanks for having me.

00:43:19.440 Um, Vaughn, thanks for making corny jokes.

00:43:22.360 Yeah.

00:43:22.660 Yeah.

00:43:22.840 You're welcome.

00:43:23.800 That's the way I contribute meaningful.

00:43:25.320 I'm providing value.

00:43:26.460 Uh, guys, shoot me those questions.

00:43:28.200 Ask Andy at the MFCEO.com.

00:43:30.540 Uh, hit me up on Instagram and, uh, we'll catch you next time.

00:43:33.920 Thank you.

00:43:34.220 Take it easy.

00:43:34.880 Take it easy.

00:43:37.140 Hold on to my breath.

00:43:40.300 I'm never going to settle.

REAL AF with Andy Frisella - July 14, 2015

How to Come Up With a Business Idea, with Andy Frisella - MFCEO6

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