Camille D. Jamerson lays out five steps to becoming a world-class mogul: own your entire business, build passive income systems like Richard Branson and Oprah, assemble a skilled team instead of doing everything yourself, dominate one niche before expanding, and take calculated risks in a unique space.
Chapters
Hey, I hope you've got your pen and you're ready to start. We're on tip number 1 of what it really takes to be a mogul. The first thing, which is kind of obvious, you need to be an entrepreneur. I haven't found one true mogul that remained an employee for someone else for a long period of time. Even if they started as an employee or working in like network marketing systems as a salesperson. To become a mogul, you kind of need your own business. A business where you control the branding, you control the sales, the profit margin, the markets, the targeting, the procedures, the processes. You need to own it. It needs to be yours. So first step, become an entrepreneur. You got an idea in the back of your head. Let's get that business started or dust that one off the shelf that you've already got in play and get moving. Tip number 2, and possibly my favorite: get paid while you are sleeping. That means have a system or a product or something that's available for sale to your target market audience 24 hours a day, 7 days a week. For example, while Richard Branson is sleeping, people are buying plane tickets for Virgin. Now Oprah could be on vacation and resting in a hammock, and someone in that same airport just stopped by one of those little booths and bought her magazine to take on their flight. What are you really selling and is it packaged in a way so that people can buy it without your engagement, thus while you're sleeping? But whether I'm taping or whether I'm sound asleep, my products are available and they're for sale 24 hours a day, 7 days a week. So get paid while you're sleeping, people! Tip number 3, and probably quite honestly the hardest to implement, is to come to the understanding that you need a team. Yes, you, you need a team. Mo Eagles are not lone rangers, nor are they well-versed in every single area of their business. But what they need, they find in their network of influence. My team, affectionately known as the Gladiators, are an awesome team of leaders in their own right. And my circle includes Rima, my amazing chief of staff, but I also have everything from a meticulous editor to a brilliant engineer to a branding guru, a government affairs specialist in aviation, and much, much more. I don't always need I don't need to know everything. I just need to know who knows it, and once I do that, I can build a relationship and lean on their wisdom and influence in that particular area. So, posse up, you need a team. Tip number 4 is an awesome tip, especially if you're just starting out. Be careful that you don't dilute your brand. So number 4 would be clarity of brand or clarity of focus. Become successful and known for something in a particular area first before you start building outward. Build upward and build well, then diversify. A great example of that would be Mark Cuban. We know him now as an author and as a TV personality on Shark Tank. Uh, he's also an owner of the Dallas Mavericks. But before he did all of that, he was known for a company called MicroSolutions. He made that company successful and then sold it for $6 million to CompuServe, and then he went on to build the legacy that we see for him today. So just a word of advice, don't spread yourself too thin. Be great in one particular area and then build outward. And now we are at number 5, one of the most crucial. Take a risk. Do something different and unheard of, witty in your industry. For me, for example, my unique twist as a consultant is that I also have training in crisis management. So most consultants are known for getting into a company and helping them put things in place to prevent mishaps in the future in whatever area of business, and I can do that as well. But what if you're dealing with a business that's already in trouble? What if they're already in a crisis due to a bad decision or a deal gone awry or even a scandal of their own? They're gonna need someone to come in there and hold it together until they get it together. Someone who's willing to get in there and get dirty with them until they get their business back on the right track. So that's my niche. And is it risky? Yeah, but it also sets me apart from the other gazillion consultants that are out there. So find your niche, find your special thing, and make certain that you use that to catapult you to the next level. Take a risk. Well, I certainly hope that you enjoyed this episode of Mogul Moments. It's been my pleasure to be your host today. If you would, please leave your comments, your questions, your ideas, your thoughts, all in the comment boxes below. I'll be certain to check as often as I can to be certain to respond to each and every one. If you would, share this link with your friends, the people in your circle, your colleagues that you know are building businesses, want to be entrepreneurs, or may just have a little side hustle. Tell them that this is the place to be to find out what it's really like to build what it is that they're trying to build. Also use the hashtag #MogulMoments. You'll be able to find me all over social media, be it Twitter, Facebook, Instagram, Snapchat, Pinterest. Wherever it is, I'm there. Look for me, follow me. It'll be a pleasure to get to know each and every one of you. So until episode next week, stay tuned for the next time we meet On Mogul Moments with CDJ.
