177 | Developing an Entrepreneurial Mindset in Mid-life & Beyond with Jacob Roig
Our guest today on the pod is Jacob Roig. Jacob is a Master Mindset & Business Coach who helps entrepreneurs indentify and take those important steps to make more money and have more fun. The majority of Jacob’s clients are mid-life entrepreneurs.
Resources mentioned in this episode:
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Jacob Roig Awarepreneurs Interview
SPEAKERS: Jacob Roig, Paul Zelizer
Paul Zelizer 00:02
Hi, this is Paul Zelizer, and welcome to another episode of The Awarepreneurs Podcast. This podcast is all about the intersection of three things, conscious business, social impact, and awareness practices. Each episode I do a deep dive in and being the thought leader in this intersection. Someone who has market tested experience, and is already transforming many lives. Before I introduce today's guests and our topic, I have one request. If you could go over to iTunes or whatever app you're listening to the show on and do a rating and review. It helps tremendously. Today, I'm thrilled to introduce you to my friend and my colleague, Jacob Roig. And our topic is developing an entrepreneurial mindset in mid-life and beyond. Jacob is a master mindset and business coach who helps entrepreneurs identify and take those important steps to make more money, and have more fun, Jacob, welcome to the show.
Jacob Roig 00:55
Thank you for having me, Paul, I'm excited to be here.
Paul Zelizer 00:58
I think we might have some fun, and I hope we can help people with a really, really important conversation. So I'm gonna just give a little backstory to this particular topic. And then an asset, a question that we always start with Jacob, the backstory on this conversation is, not too long ago, I was reading an article that was talking about people over age 55, who were hit either lost their job, I got downsized, and they have given up and they've retired. And the reason they were doing that they just said at age 55. Plus, in most western countries, particularly in the US where the articles focused, they just couldn't get a job. It was a combination of ageism. And yeah, the preference for hiring somebody young, because you could pay them less money, very, very skilled people very, very accomplished. And they didn't have enough to retire well, because they hadn't been planning and retiring at 55, or 60, or 62. They planned on continuing working. And they were looking at facing the rest of their life in near or in actual poverty. And a whole bunch of us both of my LinkedIn conversation, and Jacob was part of that. And I posted the article in the aware printers community said, we need to be talking to folks who you know, haven't thought of themselves as entrepreneurs, or maybe had a little side gig or once in a while they'd get client or whatever. But hadn't really thought of themselves as mid-life entrepreneurs, this is an incredible opportunity. And we don't want to lose all this wisdom. And these folks don't have to live in poverty. And let's do something about it. I reached out to Jacob, and here we are. So that being said, Take up one of the questions that we always like to start with, we're called aware printers. And we'd like to get to know somebody by asking you about a wellness or an awareness or resiliency practice that you personally use, day after day, week after week to bring your best self to this work.
Jacob Roig 02:56
Yeah, thank you, Paul, it's a great question to start with. For me. I simplify it as much as possible. And I asked this question, and just about everything that I take on every day, which is, how can I let this be easy. We sometimes tend to be reactionary instead of aware. And aware printers is a great name, because it's for me, it's also being aware of what I'm thinking and with the knowledge and understanding that I can change it. So in its simplest form, and just, I'm aware of what I think I realized the impact that it's making, and if it's not empowering me, I choose to change it.
Paul Zelizer 03:43
That's pretty simple. Are you sure you can't complicated more than that ticket? Let me animalist you're talking my language now. So this work pick up, you've had an interesting journey yourself with entrepreneurship. How did you get into entrepreneurship and give our listeners, you know, we don't necessarily have to hear every, you know, over the years every up and down, but give our listeners just like a you've had some real ops as an entrepreneur. And you've also had some real moments of Ouch, that really did not go well. gig. How did you get into the work? And what are some of the highs and lows of your career? Yeah, thanks. Well, I was in sales in corporate sales for about 15 years. And I always dealt with businesses and one of the things that I just, you know, I realized it's more of a gift now than common practice, but I was aware of what they were doing or not doing that was helping them in their business. And part of it my logical side was that
Jacob Roig 04:52
if I could understand their business a little bit better, and give them a few suggestions, it would help them stay in Business longer, so that they would keep buying my products. I sold pagers at one point, which is a communication tool wasn't required, but it was beneficial. And then I got into advertising sales, which is a non tangible or intangible. And I realized that they weren't asking how people found them. And for me, that was almost insanity. Like, why would you spend all this money and not know if it's working or not. So that's how I started working with, with business owners and entrepreneurs. And as I got more in depth in it, I understood that I could do it as easily as they were, and the bug hit me. And it took about, like I said, 15 years in corporate, I realized I wasn't the corporate poster kid. They just kept me around because I got good results, not because I was the ideal corporate employee. And that's a journey I started in 1999, I started my first business. I had meteoric success, my first 10 months, which was my first fiscal year, we did 1.2 million in sales, and Toledo, Ohio, which is where I was originally from a fairly, you know, small place about 300,000 people. And I never saw anything less than that for the four years that I owned it. And my goal in the beginning was to create a million dollar sales company. I had the mindset that I was, whatever we do in business, we're a company that sells whatever it is that we offer, because if we're not selling it, we're not in business. So I always had that mindset of a sales approach. And yeah, meteoric sales, I sold that business, I realized that if you don't have a system, you don't have as profitable of a business as you believe you do. So I started creating a operations manual. And I branched off there and became a manufacturer's rep for the industry, which was bathtub liners and installations. And I also delved into real estate investing. And that started taking off. So I gave up the manufacturing site, and I got, I became a real estate investor. And that was, again, pretty successful. And then I just started forgetting my plan. And I started chasing more and more and more without the plan in place, and 2008 2009 was
Paul Zelizer 07:30
not the best time to be in real estate, right?
Jacob Roig 07:32
No, and not the best time to be in real estate, and not paying the attention that you have to to run a successful business. And that was, that was what I was doing. And it just magnified my errors or my ways, and I ended up tragic, you know, it was a tragic moment. Luckily, it's only a moment. But yeah, it was in bankruptcy court, and I lost everything I had ever worked for on my 50th birthday. So but as you've as we've shared together that same night, I realized how wealthy or how rich I really was. And I also understood that what was lost was the material things and what was gained was this knowledge that I was rich in love. I was rich and family, I was rich and friends, I was rich in health. And the only thing that was missing was the material piece. And so it doesn't mean that I was instantly over it, there was zippity doo da moments. But it did set me on the path where I'm at today. And I'm as we hear many successful people I'm I'm I find gratitude in the failure because the failure puts an end to something that wasn't working to begin with. And it planted the seed if we choose to cultivate it, and that's what it did for me. And now I'm on purpose.
Paul Zelizer 08:55
So you're 50 years old, I can only imagine the poignancy of that moment lots the years of hustle and work and investing and a lot of money. And yes, and they just everything God.
Jacob Roig 09:10
And I, yeah, a couple million net worth. And yeah, there was those moments where I thought, Man, I I'm too old. I can't do this.
Paul Zelizer 09:19
Yeah, well, I thought you just like read my mind, Jacob. I'm too old. Right? You're 50 years old. Like our title episode is about developing an entrepreneurial mindset and been like from beyond most people would say 50 that qualifies as midlife. Right? I'm about to turn 53 I think I'm pretty squarely in that category. Right? So so you're 50 years old, in help us understand what was it like to bump up against some of those limiting beliefs? You just named one right? I'm too old, right? People are literally just like hanging up their shoes, even though they don't have enough to live well. And some of them are like thinking or Making decisions and this article like protecting millions of Americans, millions of Americans are made of even 10s of millions. We don't know, we don't have good research on this. But millions of people are like thinking I'm too old. There's these companies won't hire me because of ageism, and they want to pay lots of money to somebody who's new, and they need a job. So they're gonna take it and I'm done. But am I really prepared to live a good life? I wasn't thinking it was going to happen at 59 years old. And I'm too old to do anything else. What would you say to somebody who, in some ways running into like, what I was doing isn't working. And I'm too old, for something new, something more entrepreneurial, whether it's as intrapreneurs or mid-life entrepreneurs, we'll get to all of that. How do these some of the mindset tools you've learned? How can it help with that,
Jacob Roig 10:52
um, to hold it? Well, first off, is realize that that's just a thought. It becomes a belief, the more that we think about it. But there's also for every tragic story of 50 Plus, that doesn't do anything or doesn't make it. There's as many stories of people that are. And so the first thing is, we have to make a choice. How bad do you desire to not be in the space that you're in? And then finding a way or finding the help that shifts your mindset shifts your belief system to possibility and hope, instead of This Is it because when we have possibility and hope we get energized, we will take another step forward? When we believe that this is it. So I could have easily believe this is it I lost a couple million that worth everything that I had own physically we got rid of. And I could have chose to stay in that place. And people would have said, Oh, he gave it such a good effort. And try, he worked really hard, and it just didn't work out. And I made a choice very clearly that that wasn't going to be my story. So the first thing is you got to get a little bit like energized and cocky about it and to yourself, not to other people. But do you choose to be where you're at? Or do you choose to do something and figure it out? We all have moments in our life where we come up against these walls where we had to rise above the occasion rise above the obstacle and break through it. And we all have broken through something. If you can break through one thing you can break through this one. I get passionate about it, sir. Oh,
Paul Zelizer 12:38
no, no, that's okay. No, I was just thinking of the book mindset by Carol Dweck, and very fabulous researched book and she talks about the difference between a fixed mindset and a learner's mindset. This is a really helpful book on my journey when I burned out as a community mental health person and was trying to find my way into social entrepreneurship. And here I am 13 years later, but it's not an easy. It was a bumpy transition. And now I have some vocabulary to borrow her vocabulary. I was in a very fixed mindset. I don't have an MBA, I don't know how to do marketing. I don't know much about bookkeeping, like I'm a really good, innovation oriented community, mental health person. I know that, right. But like I was so burnt out, I couldn't keep doing it. I don't know these other things. And I was like, thinking about it as if like, I didn't get the DNA, right. Like there's something was a fixed mindset. I don't know how to do that. And I was born without that capacity. And that was part of the like, incredible turbulence in the transition. As soon as I started to learn about what a learning, okay, I don't know how to do that now. Because I wasn't trained in it. That's not what I've been studying for decades. And it's a learnable skill set. Then I started to learn how to Oh, okay, so I need to learn how to market I need to learn a little bit about websites and copywriting. And I need to learn a little bit about the bookkeeping, kind of things that are where I need to figure out how to hire that out. And suddenly, I was a business person. But when I was trying to make the transition with a fixed mindset, Ouch, that hurt me and I started to see it as a learning mindset. It's still required work. But it was just like, okay, here's the next thing I need to learn. And then the next and then the next and that turbulence smoothed out tremendously. Is that anything like what you've seen Jacob, in your own journey and with the people you work with?
Jacob Roig 14:33
Yeah, it takes shifting your belief system from being just reactionary, which is kind of a fixed mindset that says, Oh, it's too late. That's what society says, versus being your own leader and choosing. And so we get to choose everything we think of whether it's conscious or unconscious, and the way we approach it from a leadership mindset, leading our own self You don't have to be this great leader, we have to lead ourselves though, which is what you did. And we say, Oh, I can't do that, too, hey, I don't know that. But let me do everything that I have to to learn it. And what we find is the, the more we allow ourselves to be a learner, as you say, a learning mindset, the more we expand, and the more that we learn, the more energized we get, I probably have as much energy and zeal now than I did when I was in my 30s. for a couple of reasons. One, I have much more control over my own mindset. But also, I know I'm on my purpose. And when you're on your purpose, life is good. It doesn't have to be the best result, it doesn't mean that I'm a multi billionaire. But I get up every single day, getting to help people do what I love, show up 100% have great conversations like you and I are having today and knowing that we're going to impact at least one more person.
Paul Zelizer 16:00
So I'm gonna ask him and a little bit of how you work with people. But before that, like just at the top level, you did some research before you getting ready for this interview, and in your ongoing work. And you were talking about people over 55 and entrepreneurship, and you found some really exciting but very surprising statistics. Tell us a little bit about your research.
Jacob Roig 16:23
Yeah, it was it was interesting. So thank you for inviting me because it expanded my knowledge and wisdom as well. But people 50 and over are the largest growth of entrepreneurs, at least in the US, I might have been globally but at least in the US, that's been going on since 2013, where the largest group of entrepreneurs starting new businesses 30% of those who do had owned one previous business and 10% of that group of 30, own five or more companies, which I thought was I could relate to because I have friends and mentors that have never quit working. They've been hugely successful multi, multi millionaires, and then handed it off or sold it and then start the next thing and always into something and your mind just gets into this creative mode. And I know you can relate to this, Paul, because as you grow this, now you're helping people maybe with podcasts, and then that creates another idea in a program or it's just an endless thing. But people 55 and over are the largest growth, they have the highest success rate. And part of that is you and I were talking about it, but they have more wisdom, they have more patience, they have more ability. And they have as you are saying to, which is a really great point, more connections. And as we know, it's still not always what you know, it's who you know, that can help the most, that still does apply. And the one thing about 55 and over as well as we're more apt to change slower. And jumping from one ship to the other will change fast when it's required. But 55 and over entrepreneurs don't jump from one business to the other, they stick to their core thing, and then they figure out a better way to do it more than people. It was 30 and younger, was the comparison. So it was pretty interesting stats.
Paul Zelizer 18:36
One of the main reasons we wanted to do this episode, and I hope you're hearing it and what Jacob sharing now listeners is if you're 55 and over, you know, not young in some way. And we all know who tends to wind up on the come fast company magazine or entrepreneur like you know, we know there's there's no Forbes like 90 over 90 list, right? There's a 30 under 30 list and a 40 under but there's no 90, right, we can see the bias. And yet, I hope you can hear that there's actually when you just look at the real world data not who's like the fast and what makes what sells magazines and what Hollywood likes to make movies about. But this, if you're in this demographic that both Asian Jacob and I are in, you're more likely to succeed. And I hope you'll think clearly about the possibilities of how to leverage your experience and your wisdom and your strength and your network and not give up on that. not give up on yourself even though the culture doesn't do a good job of respecting eldership and encouraging us to try new things. And so I so appreciate you doing that research take up and we'll try to get that from you and put links in the show notes to some of the articles. you're mentioning. Beautiful. So talk to us a little bit, when you're working with somebody who's, you know, doesn't look like somebody who would be on, you know, women's health or Men's Health magazine. Because they tend to be young, you don't see what's her name, or God, the 80 year old bodybuilder, and she's fabulous. You don't see too many 80 year old bodybuilders on, you know, Women's Health magazine, or Men's Health magazine, when you're working with somebody in the second half of like, Jacob, what are some of the kind of special issues that you tend to work with? What are some of the suggestions you have and somebody coming? Especially if they haven't been an entrepreneur for decades, they might have been a professional, they're knowledgeable, but they're not a mid-life entrepreneur? What are some of the, you know, unique issues that need to be tended to? And how do you work with some of those issues? Yeah, well,
Jacob Roig 20:52
you know, just generally, if people are starting out transferring from, you know, a lifelong career, and now they're, you know, getting the idea or they're choosing to start a business, I would just say, start with something that you know, well, or that you're already good at, choose who you can help the most with that skill set. And one of the more important things as entrepreneurs is we have to choose that one main problem that we solve, avoid the 22 problems that you can solve and focus on the one main one, people will go to a knee surgeon versus a general practitioner, if their knee hurts, and then the surgeon makes more money. And so learn how to connect with your audience. Social media, to me is a must right now, learn the technology to do that, or hire it out. I think Tony Robbins says this, but hire your weaknesses and focus on your strength. And it's easier, in my experience, for more 55 and over 50 and older people to let go of having to do it, versus somebody who was 30 or 20. Because when I was 30, or 20, I was in, you know, nothing could bother me, you know, I was indestructible. That's the word. And we're also a little bit less stress at 50. And over and we realize, hey, look, you know, it doesn't have to be done the exact same way I do it, if it still works out, we'll be good, we have a little bit more patience on that, you know, create simple processes that are repeatable, so that you can delegate faster, it's easy to create simple processes, it's not easy to put them down on paper, always, but learn how to do that it will set you free. And then mindset wise, I would go into, you know, commit to it. 100%, don't stick your toe in, you're either gonna do it or you're not go for it. It's kind of like, it's not now or never. But it's like why not now, more than at any other point in time in your life, again, be willing to hire out and get helped. And that doesn't just mean the actual functions. The majority of the people right now that I'm working with, and it always hasn't been the case, are 50 and over. And they're creating some brand new businesses from others that they've done before. And others are just ramping up and learning how to truly scale the business to the dream that they had a long time ago. Focus on becoming an entrepreneur, not someone who's just good at it. And no, it's a longer term strategy. It's not 90 days and out. This is a long term strategy if you know if I'm 55 and over and I'm starting a business, I'm not looking at creating 10 more businesses let me get this one down right and then let's see what happens afterward. And if you don't feel you have any skill sets, there's still a business you can create very easy, you just have to talk to the right person.
Paul Zelizer 24:02
great suggestions take so let's do this. Let's take a quick break here a word from our sponsor we'll come back want to hear exactly how you work with your clients and in what forms are you somebody who has a business that's about making the world a better place? It can real positive impact in people's lives and communities lives and you also want to make a good income doing it you want to be able to live well. One of the best ways I know of to grow a business that is a positive impact oriented business is through podcasting. And that's true whether you want to be in the seat that Jacobsen right now as a guest fabulous way right? Getting on podcasts that are air quotes right for your message already have listeners with thousands or 10s of thousands or hundreds of thousands of downloads with each and every episode. And it's already built. They were printers podcasts been going for three years. Or you want to host your own podcast in the host seat. Both of them are fabulous. Both of them are really powerful and some of the most intimate. And the beautiful part about podcasting is you get to do a deep dive. The average podcast episode is 43 minutes long. So you can really unpack the nuances of who you work with how you help with them and do different topics on different podcasts. It's an incredible opportunity for genuine connection without big, high pressure sales and complicated sales funnels just human to human relating, at scale. It's not quite like anything else. I know, if you'd like to learn how to do that, whether to be really good as a guest be really good as a host, or both. All in the service of growing a positive impact business, I really encourage you to check out the enterpreneurs podcast success team, you can find out more at aware printers.com forward slash podcast dash success. And thank you to the podcast success team for sponsoring this podcast. So Jacob, talk to us a little bit in the second part of the show, we'd like to talk about putting on our entrepreneurial glasses. So let's get a little more granular. Talk to us a little bit more, you started to go there like you're many of your clients now are over 50. Like, what would be either an example or some of the key points when somebody comes to you? And it's like, Alright, Jacob, that sounds great. Yeah, processes that make sense, blah, blah, blah, but like, where do I start? You know, if I'm like on a new idea, and I haven't been an entrepreneur, I have been an entrepreneur and maybe case scenario number be, I've been added a little while and I'm doing okay, but like I really do, I'm ready to ramp it up and kind of be more professional about how I'm showing up as an entrepreneur, like, where would you start with those two different individuals?
Jacob Roig 26:55
Yeah, great, great points there, it's, it's always going to boil back to the mindset part. But that's not the sales point. The first thing is, you know, to understand where you're going to take this business, like, what level that you're like, that you'd like to take it to. And then what is it that you're going to do with this business, just close it up at the end, sell it, sell the assets, whatever it is, there's a plan and a strategy that you can implement to get you there towards the end. But knowing our end destination is always a good point. It's really about getting clear on not just what we'd like to do, and who we'd like to do it with, but planning out that strategy on. Again, it's hiring are hiring out our weaknesses, those things that are repetitive, that are required. And as you know, Paul, we have to do many things as as solopreneurs that we'd prefer not to sometimes, you know, like, the marketing is great. And I enjoy parts of it. But if I didn't have to do other parts, I wouldn't. If I could just go lay on the ground and attract clients, I'd be laying on the ground for hours a day. But there's certain structures and strategies that we have to implement in place. And I think those are key components that when people come to me, the first things that I look at is, you know, what are they doing? And how are they doing it. So we kind of break down their processes, then we see who's doing it. And then how effective that is. And from there, I start working and identifying not only strategies and structure, implementations or changes that can be made, but also seeing where the owner is getting in the way. And we all do it, we all get in our way to a certain point, unless we around the second time around and we learned all those lessons, and we're actually utilizing the lesson. And so I think that it starts with just getting a really good overview on where they're at what it is that they desire, getting them clear on that message and getting them clear on what it is that they actually desire. Because a lot of people don't stop and ask that question. When I ask people, a couple of things, one, where are you taking this business? At least half have no idea. And there's a structure in place if you're looking to sell your company that you have to have in place at least three to five years before you sell it to make it as profitable as possible. And so there's a lot of different things. I hope that that answered the question. I don't want to get too long in my
Paul Zelizer 29:44
No, that's a great that's a great answer. And I hear both some like mindset or mindfulness you know, mindfulness or awareness practices suggest, try not to make any changes before you're paying attention to what you're doing right now. So I hear you asking some Real awareness based questions like What are you doing right now? And who's doing it love that question? And where do you want to go? what's the what's the intention for this business? might be another way to ask that question. I love that question. Jake. Great questions.
Jacob Roig 30:15
Yeah, thanks. Well, it's enjoying the journey, right? And we have to know where we're going to be able to plan the journey out, is I'll say real, basic, you know, on a basic level with clients, this is like you're planning a trip, you'd never get in a car and go, I'm not sure where I'm going, I'm not sure what direction I'm not sure how long, you'd never go on that trip, or no one else would go with you either. So the clearer that you can plan this out, and the clearer that you know exactly where you're going to take this, it's much easier to plan it out.
Paul Zelizer 30:48
Let's talk a couple of ways that you work with people. You do some one on one coaching, like many other business coaches, what, how do you work with people in your one on one? And what would you say is unique about it?
Jacob Roig 31:03
Usually, it's a six month minimum, for me, and I've just learned over the years that I could coach month to month, I could coach on a three month cycle, and you will get a lot of great information. But for true change to happen, on the level that the clients that I attract come to, it takes about six months of time, it's a journey. And so when I'm doing one on one, we break down the business piece by piece that takes a little bit of time. In between time life happens, we identify some blocks or obstacles that we're creating, you know, as people as leaders, and we have to work through those as well. So when I'm working on one on one, we're, it's never usually like pinpoint focused on certain mindset pieces, because everybody shows up a little bit different. But we do focus on the first part, which is one, are you profitable? And I'll have 85% of people, at least that have been in business say, Yes, I am. And as we start breaking down their pricing, they really have no clue. And a lot of people believe they're profitable, and probably are but not at the level that they believe there they are. So I just created a formula that I learned in my own business, I told you, I had this meteoric rise, we did 1.2 million, my average sale was 3000. And my company was making $75. That was it, after all expenses. And I wasn't getting paid, because I was under that myth that you don't pay yourself the first year, which is a myth. Don't do it. And immediately, I had to either adjust because if my business slowed down, my sales dropped, within 90 days, my business would implode. And I found that I wasn't that unique, there's probably been 50 companies that I've worked with that were in that same position that it was just valued. So I work on pricing is probably one of the first things I do but one on one, we break down every every place, every section of your business. And we figure out not only how it's done appropriately for your business, but also who's doing it and then start to create some processes and systems so that you can set yourself free in time, you'll find that you make as much money probably more. And you can afford that person because you don't go with the mindset, how can I afford this? You go with the mindset, how can I increase my business to afford this.
Paul Zelizer 33:46
And if somebody new and hasn't been an entrepreneur before, but has an idea that they want to develop? You've got a 30 day biz launch program, talk to us about that.
Jacob Roig 33:57
Yeah, that that was just that came out of necessity, because a lot of people will start doing something and really have no clue. So they're really good at doing it, but they're not very good at running the business. And so there's some foundational pieces that you have to have in place. And one of them's mindset, you have to know who your ideal client is, you have to know what the main problem is. You have to set up your marketing before you start. And there's some other things too, but we just break it down into seven different modules that I that I work with people on in a recorded program and what it does is within 30 days, I call it 30 day biz launch, but the average person takes about two and a half weeks. That's at your pace. And at the end of that time, you will have everything in place to officially launch your business and to create a profitable business as you start. And then the next step from there is to implement the marketing and then get your sales funnels in place.
Paul Zelizer 35:01
For somebody who's a little bit longer, you know, has their idea, but wants to not be in that position you're talking about, I've seen that so many times take up for somebody else say, I make X number of dollars a year, right? And then you like, Yeah, well, that's your gross, that's how much money's coming in. But like I'm doing the math in my head you live in, you know, Jacob, you're in California is Ray, it's not a cheap lifestyle in California. And I'm doing the math. And I'm like, Yeah, I bet there's not a whole lot of money in the bank, right? There's a big difference between what you gross how much money is totally coming in, and what you net like, keep what's basically your salary as an entrepreneur. So you really have a passion for helping people think about pricing. Talk to us about your pricing for profit blueprint program.
Jacob Roig 35:48
Yeah, well, this is mandatory, if you don't price, your programs, products, services, to cover expenses to pay you and to create profit, you are not a profitable company. And eventually, it catches up to you. I've worked with $10 million companies, I've worked with million dollar companies, and I've worked with companies that made 250,000 that weren't profitable, you would never go to the CEO of your, your company, if you're an employee and say, can I ever charge card we need ink. You would never work for someone and say, Hey, you don't have to pay me this week, but I'm going to work 60 hours. So don't do it for yourself, there's a formula that you can follow. And what it does is it shows you how to price things out so that when you charge something, you're confident, every single transaction should pay, you should pay for expenses and should create profit for your business. Even if you sell one paperclip, a corporation will factor how much that cost and all of their costs. And then they put a price on it through a formula not through just well I paid 10 cents for give me 20 cents will be good. Which is how a lot of entrepreneurs will go either that direction, or they they charge a price because everybody else charges it. That's not a formula for success. And so that's why I came up with the pricing for profit blueprint. It should be taught to everybody.
Paul Zelizer 37:28
So you've been in this space for many years now take a being an entrepreneur and coaching entrepreneurs, like how has this moment that we're in really pointed things going on whether we're talking about COVID-19 and the economic impact that that's had, or the racial reckoning that we're having, certainly here in the US, but we're seeing all around the world, we're in the confluence of many, many powerful forces. And the end result is, you know, just like an economic and just kind of social fabric. earthquake, things are just, you know, shaking and moving in the very foundations are being shaken up. And so many people are feeling and including those over 55, who, you know, had one iteration of their work life, and that's not gonna happen anymore, right? What What are you? What's your mindset in these times?
Jacob Roig 38:27
Well, the first week, it was like, Oh, no, but they're not even the first week, the first few hours, when I realized that there was a shutdown coming down. My first thing was tighten up, go into scarcity mode, everybody might drop you because one of the first things that they might look at is this could be a an unnecessary expense, even though I would argue with that, but that's my opinion, not theirs. So it was about getting in the massive action. Those people that realize something had to change quickly. started thinking out of the box went for it didn't wait around to see what was going on, have created success. I worked with nine people specifically during all of this stuff going on, because we have, you know, we're used to change, but it comes gradually. And what this moment has done is amplified change in every single direction. So we're going through the transitions, we would probably go through hopefully, as a society and, and everything else, but it's just magnified and all at one time. So man, we're getting it from every single direction. And it's about taking a moment, stepping back and making a quick plan of action and going for it. How can I do this business? A little bit differently. A few examples on businesses you wouldn't think I have somebody I've worked with now. I think we're in seven You're seven. But he has a lawn and garden equipment company. He's been in the business for 42 years. And everyone around him was starting to close up. And we got into massive action. So instead of coaching him once a week, I said, we have to coach daily, I have to keep you in the game, you have to change things strategically. And we just brainstorm together, he started picking up and delivering for free, taking new equipment, to people's homes, so that they could buy it from their porch with a no touch pricing, just things did differently. And what happened was, to this day, he's having his best year that he's ever had in his entire business. every single month, he's growing around three to 10%, from the previous month. And it was about new outreach, new ways of doing business, new ways of doing transactions, and serving his customer in a way that other people weren't. And so what he's been able to do is grow his business and bite into the big box stores, which were at one time, you know, trying to crush them. That's just one story. But there's the biggest thing is looking at what you're doing, and how can I do this differently? How can I stand out from the crowd? I think David Brier says this, which is how can you rise above the noise, which is how can you be seen, while there's everybody else is saying the same thing. And it was the same thing for me, instead of coaching once a week or once every other week? It was like, hey, look, let's round the wagons together. We're a community, we're a tribe. Let me coach you as much as you require. And did I work harder? Yes. Was it worth it? Absolutely. Each one of them stayed with me increase their sales or maintain their same level. And on top of that, when the racial strife came in, I got inspired by somebody on LinkedIn, and I put up a post that said anybody of color I will, that's an entrepreneur or would like to be one, I will work with you for free. And after I posted it, I kind of said, Oh, no man, this could be, this could be a big thing. And I only had three people that responded, I'm still working with two of them. And I can tell you that it's been nothing but pure joy, from my perspective, to see this and realize, you know, if everybody kind of agrees to a certain level, we're so much more alike than we are different. It's like, let's just, you know, put the blinders on and see where we can help people. So that combination of things have kind of helped me go through COVID, but helped a lot of other people as well.
Paul Zelizer 42:50
I love what you're saying they're taken by joke about my spiritual highlighter and thinking about things differently with COVID. And all the changes. Couldn't agree more. And I was thinking like, well, what would be my example of that? And just on this podcast, I could I thought a to write when you were talking, I was like, number one, I decided to do go deeper and do more. podcasts is what is bringing in the vast majority of my clients. So I actually stepped back actually three things I made room. I stopped sending newsletters as frequently I stopped doing as much in social media and I doubled down on what was the single most effective thing to grow my business, which was the podcast, and I decided to go deeper. In other words, I don't do interviews anymore with somebody I asked for a meet and greet, like basically a pre interview, like let's say hi, because when people listen to the enterpreneurs podcast, one of the things they love is the depth of the interview. And like even I know each other Jacob, I know you play guitar. I know you just got a really cool new guitar. I know your passions. I know a little bit about the personal development work and why mindset is, you know, not just a word you casually toss around, but that you are really, you know, from board breaking to firewalking you've like really walked the edges literally like on better calls, in some cases to learn about mindset. And it's not just a casual kind of new to the game kind of thing, right? And I know that because we've talked and I stopped being willing to have a conversation, I get pitched like 300 times two to 300 times a week. When COVID here, it just went way, way up. And I said, I need to go deeper. If you won't have a conversation with me, you're not going to get on my podcast. There's a lot of blackouts but like this is what sets us apart. So that was commitment. Number one, I made room in my schedule by doing less of these other things. And then I went from one episode a week to two episodes a week not kind of crazy. They're not too many people. People are you not suddenly Nope. This is fun, and like it works. So I just give those examples. From my own journey, like I had a desire to be more helpful. And I saw, we were already getting traction. And I said, here's some ways I can make some changes, to build on something that's already in place and what people are getting value out of, and what contributes to my business and my impact grind, which are my real focus as an entrepreneur. And I made those changes. And, you know, it's been, it's been a time of more meaning more revenue, helping more people, whether they contribute or not, this podcast is free, whether they contribute or not, in some way financially to what I'm doing, it fits my values. And I use the opportunity to assess what those values were, and make structural changes in what I was doing that fit my goals. So that's an example. That's kind of what went through my head as I was hearing what you were saying, and you made different changes, but the intention of going deep and looking to be of service. I couldn't agree with that more, and these very poignant time. So thanks for bringing that into the conversation, Jacob.
Jacob Roig 46:08
Yeah, you're welcome. And, and it really is, you know, the transition that we're going through as a society now, which is, you know, how can I be of service. When we can come from that perspective, you know, we take the longest journey, Paul, which is that 14 inch one from our head to our heart. And you never hear anybody say, I put my head and soul into this, you know, we hear we put our heart and soul into it. So let's put our heart and soul into these times right now. And let's see where we can help somebody else out. Because every time we help, we not only feel great about being about the help that we give, but we always it's the law of reciprocation, we get it back, you know, it doesn't have to be from that same person.
Paul Zelizer 46:54
Therefore, when you think of what might be coming, Jacob, obviously you don't have a crystal ball. But you do have years like decades of experience of kind of being in a front row seat of entrepreneurship being you know, you go back a few decades, and it was not like, what all the young people were thinking about. And now it's kind of like cool, and it's sexy. And so many young people like social entrepreneurship, in particular, one of the fastest growing majors in college campuses all around the world, right? This is something that's on the radar, folks, but a lot of folks don't have your experience thinking about values based entrepreneurship. With all that experience and decades of just time in the saddle, having a front row seat, working with clients, what's on your mind, as you're looking ahead from where we are right now? And what are some of the things you're kind of in contemplation about where you're going with your business? And what kind of work you're doing with your clients in the near future?
Jacob Roig 47:55
it well, it is evolving socially, because we are as a society if you choose to. And I look at ways on how can I give versus in the 80s, I may have looked at how can I get. And it just changes the whole perspective of everything. So even those 55 and overs you're looking to expand or to grow or to start, you know, don't give away to the point where you have nothing left. But just realize and look back at your own history, and where you give and where it's benefited you and somebody else or somebody else in you the most. And stay in that mindset stay in that frame stay in that direction, because it's talking to you. The more we become conscious, the more we start listening to our intuition, which is where our heart connection where source comes from. So the more we start listening to that, the more we will be in generosity mode, versus in restriction or scarcity mode. And scarcity doesn't help us at all, it just keeps us really tight and limited. So be generous with your time to those that have the value that they're bringing back, just like you said you you have conversations with people first. So I don't give freely. But as soon as I know that somebody is there that's worthy, whether they can afford my business or not. We usually find a way that we can help them out. I don't discount my prices. But I work with people for free. And if you got a question on that, just ask me the question and I'll answer it but it's about really learning how can I help? How can I be of service to you? That's the way I look at it.
Paul Zelizer 49:51
I could hang out with you all day, take up and play guitar and talk entrepreneurship. You're a better guitar player than me and I wouldn't do that to our audience. If there was something you were hoping we'd get to, and this topic about mindset, and people are over 55, or just something you want to leave our listeners with to kind of highlight as an action step or just to pay attention to this as we start to wind this conversation down. What would it be?
Jacob Roig 50:21
And please don't die with your dream. There. You know, we hear the stories, we read the books, and we see all these things about people that either have accomplished great things, or people that left this planet with their dream, don't be one of those be willing to go for it. Paul mentioned walking the fire. The first time I walked hot coals it was this euphoric, like amazing accomplishment. I didn't want to wash my feet for three weeks to show the charcoal stains on the bottom of my feet that I did this accomplishment. And as I learned and became a certified instructor to teach people how to walk it, it's nothing about walking the fire. It's about understanding how you can address life, how you can address problems and walk through them. And so anything that shows up in your life is a temporary thing, this moment is temporary. We're going to get through it, how you get through it, it's up to you, you get to choose it. So don't leave with your dream. Realize every single thing that we do, we have a choice to respond to react to slow down enough to realize what you're thinking and what the impact of that. And if you can change it on your own. Please do and if you can't find the help.
Paul Zelizer 51:46
Thank you so much for being on the show today.
Jacob Roig 51:49
Thank you, Paul has been my pleasure. Take this and I'll be back as a listener which I usually am every week because of who you have on. So thank you so much for including me to be part of this. today. I'm grateful.
Paul Zelizer 52:03
Thanks teacup. And I just want to say before we sign off, we now have two episodes we dropped early every Tuesday and Thursday morning. And this very topic is an example of what I'm about to say we love listener supported topics and guests and this one came directly actually two separate conversations one on LinkedIn posting the article that talked about people over 55, you know, retiring before they're ready, and posted the same episode, same article in the aware printers community. And people had a lot to say about it. And I said, Oh Jacob be just the right guy to help us have this conversation and think about mindset and get over those hurdles. If we're over 55. And we're thinking we're too old. I've never been an entrepreneur, I don't have an MBA, I don't know how to market all those things. Paul was thinking to himself 13 years ago, even though I wasn't over 55 and almost tanked me right? I work hard to get over that. So anyway, if you have an idea for a topic or a guest, please go to the aware printers website, go to our contact page and tell us you know, take a look at the guidelines there and tell us what you're thinking we'd love listener supported guests and topics. So for now, I just want to say thank you so much for listening. Please take really good care in these plenty of times. And thank you for all the positive impact you are having.