This is why I became unstoppable in business and was able to sell several companies for more than $10 million cash received.
The following is an excerpt from my keynote at Amazing Seller Summit 2017 in Las Vegas:
I had a proud moment for me when I recently exited another business and that put me in the eight figure club in terms of cash received.
Meaning, cash received for the businesses that I have sold on top of all the growth and profits from those businesses so I can now officially I've sold business for eight figures in cash received.
In our communities that grow physical products brands sell over $100 million a year.
But like most of you, I got into this game because I wanted a better life.
When I was 15, I heard my mom crying in the next room because I had broken the washing machine.
And this confused me because I worked at Dunkin' Donuts at the time. I made minimum wage. I could take the tip jar that I got every night and pay a $50 repair for the washing machine.
But I think my mom was just frustrated about another month where she had more month than she had money.
So it was that moment for me that I said, "My family will live a different life. And I don't know how I'm gonna get there, but I'm gonna commit now" to doing whatever it took to being financially free.
And a customer of mine gave me a copy of the book Rich Dad Poor Dad. How many have read Rich Dad Poor Dad?
And I learned in that book that 10% of people created 90% of the wealth. I said, "Okay. Well then I guess I'm just gonna have to do whatever it takes to get into that 10% club."
And that was the day that I decided that I was going to be financially free.
One more thing had to happen for me to really get there though and it was this: It was the day my daughter was born.
I was an entrepreneur for years before my daughter was born but it was really when I found out that I was going to be a dad that there was this shift in me. And, all of a sudden, this was more than just about me.
I had to build something bigger than myself, both professionally and personally. And that was the day that I absolutely committed to going all in on the business that already had results.
I was opportunity seeking up until this point. I had no more time for opportunity seeking.
It was time to build something sustainable. Something that would be lasting, something that would be life and world changing.
And I tell you this because there are people like you where the only thing standing between them and a seven or an eight figure business is just staking your claim in the ground and saying, "I am absolutely all in on this."
You are going to run into obstacles. People are going to say bad things about you, publicly and privately.
You will get negative reviews. You will have products not do as well as you think.
But for the 20% of you or so who make this decision of I am absolutely all in on committing to this, that stuff is like hitting an elephant with a fly swatter. Things just get out of your way and you keep going.
So this was my day. I don't know if I can give that to you. But for some of you it's as simple as saying "I am all in on this." And that is the only thing that is standing in your way.
As a result of that, I've built businesses in the multi-millions, hit the million-dollar-a-month mark. That was cool.
I have been in over 1,000 retail stores around the country. And I've sold several businesses.
This was the biggest check that I ever received for just under $9 million for one of the payments of one of my businesses.
But most importantly, my mom will never worry ever again about a broken washing machine.
And my daughter will never have to worry about anything (which actually kind of concerns me).
If you want to build a successful physical product brand, learn from the experts in Capitalism.com's Brand Builder Bootcamp. Join our next session today.