Are you’re struggling financially as an entrepreneur, or just in general? If so, join Jay on today’s Black Entrepreneur Blueprint podcast episode # 367 as he discusses how starting his eCommerce business saved him from losing it all (for the second time) after the financial collapse of 2008. To learn more about building a successful eCommerce business go to www.BBAElite.com
BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 367
THE STORY
When: The date was September of 2008, (stock market dropped over 770 points in one day)
Where: I was at home in Philadelphia
Who was involved: with my wife and 2 daughters aged 13 and 10
What happened:
- After trying to keep the mortgage business afloat for about another year, we decided to shut it down.
- At this point, I’m laying on the couch wondering how to feed my family and keep all the lights on and my home and cars
- I didn’t know what to do to earn money as the whole economy was tightening up so I formed a loan modification company with one of my mortgage partners and another friend, but that went south
- I then started doing some independent consulting work in advertising and played around with several other business opportunities which none really took off. I was struggling just to keep everything together with mounting expenses like college tuition for my daughters staring me right in my face.
- I sunk hundreds of thousands of dollars of personal funds into trying to save the business and then trying to keep my family afloat to no avail.
- The LOST YEARS (2010 to 2014) – I was literally in the wilderness trying to figure out how to make a comeback (I know Jesus was in the wilderness for 40 days and nights, I was in there for 4 years)
- This was a time of soul searching and introspection to really find my “assignment” and I started asking myself what I liked and didn’t like which led to E-COMMERCE the BEB podcast
- The podcast was my assignment, eCommerce was my tool to allow me to work on my assignment. Ecommerce literally saved my life by giving me the ability to live my assignment
How was it resolved:
My first eCommerce product catapulted me into a different atmosphere in terms of mindset, and passive income that allowed me to focus on the most important things in my life. It really saved my life and gave me the freedom to really think and create.
Moral of the story:
If you’re struggling, you have to find something to save you. Nobody’s gonna give it to you, it’s not going to happen magically, YOU have to take action and create your own opportunities (my wife and kids laughed at me when I started with the flat irons). THINK – CREATE – EXECUTE that’s what we do.
Benefits of an eCommerce business:
- Low barrier to entry
- You can start part-time without quitting your current employment
- Easy to scale – scaling units vs increasing time requirements
- You can be incognito (nobody knows who owns the brand)
- You can simply start with Amazon arbitrage
- You can sell products in an industry that interests you (a hobby you have, etc)
- Unlimited income opportunity
- Passive (semi-passive) income
- Subscription sales – monthly recurring revenue (supplements or any consumable)
Brand Builder Academy Elite – BBAElite.com www.BBAElite.com
Who Is This For?
Cost Of Inaction vs Return On Investment – can’t guarantee you will make money because I don’t know if you’ll work the system, but I do know what your cost of inaction costs you (if you think this program can help take your eCommerce business from $0 to 2K per month, your cost of inaction is 2K per month – If your cost of inaction means you’re going to stay at the same income level you’re at now, that’s what it costs, etc.
In short, I want the people that literally get sick on Sunday night just thinking about going to work on Monday, I want the people who are 2 seconds away from cursing your boss out, I want the person who is fed up with living the way they do and wants to make a change. REMEMBER: Change is never made until the pain of staying the same, outweighs the pain of change – THAT’S WHO I WANT TO ENROLL IN www.BBAELITE.COM
If your pain of staying the same outweighs your pain of change, you need to enroll now.
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