A speaker in a YouTube talk recounts coaching a client who owned seven independent businesses but only netted $250,000 annually ($20,000/month), worked over 100 hours per week, and was losing his marriage and time with his three children. The coach recommended cutting five businesses and focusing on two scaled to ~$500,000 each; the client rejected the advice and fired the coach one week later. The anecdote supports the speaker's argument that fewer distractions and businesses enable more money and freedom.
Questions this video answers
Seven independent businesses.
$250,000 per year.
$20,000 per month.
Over 100 hours per week.
Three children.
I had a client. I took on a client, and Jessica told me it was a mistake when I did it, and I did it anyway. I'm like, I can really help this guy. He had seven independent businesses, so. Seven independent businesses. And he was very proud, not in a good way, very proud of this fact. He took home. Guess how much money he netted from seven businesses? $250,000, which is fine, $20,000 net a month. But he was losing his marriage, and he was working over 100 hours a week, and he wasn't spending any time with his kids that weren't even teenagers yet. And he had three kids. So, like, was it a good idea? You know? But he had a lot of pride in the fact that he, like, had a. Whatever, a vitamin company, a staging company, a photography company. He was doing flips. He had a renovation company. He was doing personal production. He was doing Rev Share. He fired me, literally a week after I told him. I said, you have to get rid of five of the seven, and we need to grow up the two to make you, like, a half a million dollars a year each. And the way I see it, only these three would even qualify, and the other four are complete waste of time. And then he didn't. I don't coach real well because I just tell people what to do sometimes. And he's like, I don't like that answer. I want 10 businesses. 10 is going to be better than 7. And even if you don't have the multiple businesses, you probably have so many distractions during the day that it's. It's all rabbits that you're trying to chase.
