14 min listen
SFR 174: Why Entrepreneurs Are Paid More...
ratings:
Length:
28 minutes
Released:
Sep 14, 2018
Format:
Podcast episode
Description
Boom! What's going on everyone? This is Steve Larsen. This is Sales Funnel Radio, and today we're gonna talk about why entrepreneurs get paid so much. I've spent the last four years learning from the most brilliant marketers today, and now I've left my nine to five to take the plunge and build my million dollar business. The real question is, how will I do it without VC funding or debt, completely from scratch? This podcast is here to give you the answer. Join me and follow along as I learn, apply and share marketing strategies to grow my online business using only today's best internet sales funnels. My name is Steve Larsen, and welcome to Sales Funnel Radio. What's up, guys? Hey, I've been really excited for this episode actually I put up my little trello board, and I was taking notes on it. I've been really excited actually to dive through this with you guys. I've got my whiteboard here, for those of you guys that are on iTunes, I'm actually drawing this out, but I'm sure it'll also be in the blog and other places anyways. Guys, thanks so much, wherever you're tuning in, thanks so much. Sales Funnel Radio has been blowing up like crazy thanks to you guys, and I really just wanna say "Thank You." When I left my job, actually let me go further, let me go further back... A while ago, I don't even know how long ago it was, it was over a year ago. It was probably a year before I left ClickFunnels. we were launching this program, and I was really excited because it was one of the first projects where I was able to get a little bit of cut of the action, and I was like, "Yeah, what's up? This is super cool!" Right? I was just working my guts out for this thing. I worked so freakin' hard, I don't even know how many hours I put into this thing... It was an ungodly amount of work. 'Cause I wanted to... You know, man, it's freakin' Russell Brunson... I wanted to make sure it was awesome stuff. And we killed it. The sales were awesome, but when my cut came into my bank account, I was like, "What?!" I had calculated all these sales, and I was like, "Holy crap! Check this out, we're gonna hit all these financial goals." All these financial goals my wife and I had, we were gonna hit 'em so fast, I was like, "Holy crap, this is so cool! Holy crap!" And when the check came in it was about half of what I expected. I was like, "What the heck? Who? Where's all the cash?" I was like, "There has to be some mistake!" And I start going, and I'm looking through the pay stub and everything, and sure enough, greedy, disgusting, nasty, filthy Uncle Sam had his just molded, gross, fleshy hand all over that check, and I got taxed 42% on that thing. I was like, "Where did all the cash go?! Oh my gosh, what?! This is ridiculous!" It was my first big encounter of getting paid a huge lump sum and only getting really about half of it. And I was like, "That sucks." And I can see where there's a lot of dilemma that goes back and forth, where entrepreneurs are like, "Well, should I not make more money because I gotta pay more taxes?" ...Man, just pay the taxes, and make more money. Make your wallet fatter. I'm not a financial adviser, but that's what I do. Just pay the taxman, just move on forward. And I was like, "That's crazy." And what was interesting to me is when I ended up leaving ClickFunnels, cash started coming on in, quite a bit right at the beginning, like "Bam! Huge flood of cash," 'cause I had built up this big campaign and the doors opened, and a big old flood came in. There was this big surge of cash, and we kept almost all of it, and I was like, "Hmm, why did that work that well that time?" Alright, I'm a W-2 of my own business, that's how I set it up, a W-2, anyone, so I'm an employee of my company, so we were still paying ourselves, we paid ourselves a small amount. I didn't take a paycheck from my company for quite a while, alright? 'Cause I was just rolling cash on it, we were living on saving
Released:
Sep 14, 2018
Format:
Podcast episode
Titles in the series (100)
SFR 20: Mental Shelf Space: I'm all about confidence, acting like the "bees knees", and the "cat's meow". There's a balance though. Here's how I find it. by Sales Funnel Radio