Hi, I’m Jerred Moon, and I’m here to talk to you about something we all deal with – money. More importantly, I want to talk about how to shift your perspective on money and expenses. For many entrepreneurs, our money mindset is something that we need to work on and adapt over time.

Let’s dive in!

Don’t Just Pay Off Debt, Create Income Streams

When I first started in business, I hated the idea of having a mortgage hanging over my head. A lot of financial gurus say that mortgage debt is terrible, and while that can be true on some level, it’s not the whole picture.

The traditional mindset says to pay off your house to get rid of that payment. But what if we didn’t focus on eliminating the mortgage, but rather making our investments pay for it?

Think about it for a moment. Let’s say you have a $3,000 mortgage payment. If you owned multiple rental properties bringing in $3,000 in combined cashflow each month, those properties would essentially be paying your mortgage for you.

It’s important to remember that I’m not saying to quit your job and live off investments (although that’s a goal for many). Many of us love working! Here’s the real value: when your mortgage is covered, the income from your primary business is free to be reinvested or used to enjoy a better lifestyle. It’s about finding multiple sources of income.

Change Your Goals, Change Your Life

The goal isn’t to retire early, it’s to build a life now where certain things are automated.

Here’s a quick example: If you can get investments that cashflow enough to cover your mortgage, and you continue to grow your business, you can completely change your perspective. You’ve made significant progress towards financial stability, and now your growth efforts in your business are even more impactful.

You’re not shrinking your budget; you’re growing your resources.

What about Retirement?

Here’s where things get really interesting. For me, the goal isn’t to use that investment income to live on now. Instead, it’s about letting it ride. If your rental income is paying your mortgage, imagine what that income stream looks like 20 or 30 years down the line when all those properties are paid off! That’s the kind of retirement security many of us dream about.

Mindset Matters

I want to challenge you to think differently about your income and expenses. How can you use side hustles or smart investments to have certain bills automatically paid? That frees you up to grow your business or just enjoy life more! A passive income stream, even if it’s a small one, opens so many doors.

Let’s try harder today!

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Time-stamped show notes

• [00:00:30] Intro to money mindset for entrepreneurs
• [00:01:30] The problem with just paying off your mortgage
• [00:02:30] How interest impacts the idea of your home as an investment
• [00:04:00] Using investments to generate passive income to pay bills
• [00:05:00] Example of using rental income to pay mortgage
• [00:06:00] Keeping your primary business income to grow wealth
• [00:07:25] Thinking in terms of covering expenses, not just paying them off
• [00:08:00] Building a secure retirement with income-generating assets

Social Media Strategy: Don’t Be a Struggling Influencer, Build a Real Business

Are you pouring tons of effort into social media but seeing little return? Many people have a distorted perception of what it means to be a successful social media influencer and overlook the true power of social platforms for business growth. Today, I want to shift your perspective on social media strategy.

Influencers vs. Business Owners with a Social Media Strategy

I’ve worked with people boasting over 100,000 followers who were making minimal income. Meanwhile, I was generating more revenue with a fraction of the social media clout. Recent studies reinforce this:

• The average monthly income for an influencer is about $323.
• Influencers with under a million followers averaged $1,727 monthly.
• Even above the million-follower mark, the average was still just around $6,109 a month.

Let’s be realistic – chasing a massive social media following isn’t a viable business model for most people. So, how do you actually leverage social media successfully?

My Social Media Strategy: Educate and Share Experiences

I recommend focusing on these two areas:

• Educational Content: Target potential followers and position yourself as an expert in your field. Don’t go overboard here, as this content often gets lower direct engagement. Aim to include it strategically.
• Experiential Content: Build a loyal customer base by sharing behind-the-scenes glimpses into your business and personality. Demonstrate what it’s like to work with you and what makes you unique. People want to do business with real humans they know, like, and trust.

Key Takeaways

• Build Your Business, Not Just Your Following: If you want a sustainable business model, focus on the business itself. Building viral videos shouldn’t be your prime objective.
• Social Media is a Support, Not THE Effort: Use social media strategically to support your business goals. Let me use my newsletter as an example. My top priority is creating awesome newsletter content worth subscribing to. Promoting the newsletter on social media is secondary.

Strategic Social Media for Business Owners

If you’re a business owner, avoid mediocre content and think about value. Blend educational and experiential posts to achieve that crucial “know, like, and trust” factor. If you do this, social media will truly help grow your business. Remember, huge followings don’t always equal financial success.

Don’t phone it in on social media. Do it strategically or not at all. It’s time to try harder!

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Time-stamped show notes:

• [00:00:30] Intro
• [00:01:23] My story about influencers vs. actual revenue
• [00:02:56] Influencer income survey data
• [00:04:13] Strategic social media use
• [00:04:30] Educational vs. experiential content
• [00:06:19] Build your business, not just your following
• [00:06:33] Social media as a support tool – my newsletter example
• [00:08:53] Wrap-up, final thoughts

Where Do Good Ideas Come From?

I often find myself asking, “When’s the last time I had a good idea?” I’m talking about any area of life – business, family, personal development. Was it today? A week ago? Has it been years?

There’s no point in waiting around for inspiration to strike. If you want good ideas, you need to put in the work and create them! One of my favorite ways to tap into my creativity is a journaling technique called morning pages.

What are Morning Pages?

Julia Cameron, the author of the best-selling book The Artist’s Way, developed the concept of morning pages. Here’s how she defines them:

“Morning pages are three pages of longhand stream of consciousness writing done first thing in the morning. There is no wrong way to do morning pages. They are not high art. They are not even ‘writing’. They are about anything and everything that crosses your mind – and they are for your eyes only.”

Why Do Morning Pages Help Generate Ideas?

I’ve found that morning pages are amazing for clearing my mind of all the day-to-day noise. All those random, swirling thoughts get out of my head and onto the page. Once that clutter is cleared, the really good ideas have space to emerge.

Here’s my theory about why this works:

• Good input = Good Output: The more great information and inspiration you put into your brain – through podcasts, newsletters (like my own Try Harder newsletter!), books, coaching programs, etc. – the more great ideas will come out.
• Train Your Reticular Activating System: This part of your brain acts like a filter for stimuli coming at you all the time. Journaling can help you train it to recognize what’s important, letting great ideas get through instead of being lost in the noise.

How to Get Started with Morning Pages

Ready to unleash a torrent of ideas? Here’s how to use morning pages:

1. Don’t overthink it. Just start writing whatever comes to mind.
2. Set a target. Three pages or a 15-20 minute timer are good starting goals.
3. Be consistent. Try it for seven days straight and see what happens!

I challenge you to try morning pages – they’ve been the source of many of my best business and life ideas!

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Time-Stamped Show Notes

• [00:00:30] Intro to the concept of good ideas
• [00:00:53] Try Harder newsletter plug
• [00:01:30] Discussion of my rapid business growth
• [00:02:16] Intro to Julia Cameron and The Artist’s Way
• [00:03:05] Explanation of morning pages
• [00:04:30] How to do morning pages
• [00:06:07] Why journaling helps generate ideas
• [00:06:54] The reticular activating system (RAS)
• [00:10:02] Challenge to try morning pages for 7 days

What can a visit to a car wash teach you about leadership? Let’s dive into it!

In today’s fast-paced world, leaders can’t be everywhere and do everything themselves. So how do successful leaders manage a growing business, raise a family, and achieve their own personal goals? It’s all about delegation – but there’s a right way and a wrong way to do it. In this blog post, I’ll share an anecdote that perfectly illustrates the difference and I’ll teach you how giving your team more autonomy actually leads to better results (for everyone).

The Carwash Story and How it Relates to Leadership

I recently took my family on a road trip through some of America’s spectacular national parks. Since I was using a peer-to-peer car rental service (like Airbnb for cars), I took extra pains to return the car spotless. This included finding a carwash with a vacuum.

Unfortunately, the carwash attendant refused to let me use the vacuum unless I got a carwash – which I couldn’t do without risking damage to some external luggage. I offered to pay, to pay for someone else’s carwash, even offered $50 cash just to use the vacuum for two minutes! He wouldn’t budge. This employee was clearly trained to follow a rigid set of rules and had absolutely no decision-making authority.

Don’t Be the Carwash Guy

This story highlights the danger of failing to give your team decision-making power. When you delegate, are you giving them the freedom to find creative solutions, or are you forcing them to stay within narrow lines and never color outside of them?

The Ritz-Carlton’s legendary $2,000 rule is a perfect example of effective delegation. Employees have the authority to spend up to $2,000 per guest without seeking manager approval to resolve customer issues. This not only leads to happier customers but empowers their team. Think about what smaller versions of that rule might look like in your own business.

The Benefits of Autonomy in Leadership

There are countless benefits to giving your team (and even your family) more autonomy:

• Empowerment: Your team feels valued and capable
• Less micromanagement: You have more time and energy to focus on big-picture goals
• Problem-solving skills: Your team develops the ability to think independently
• Improved results: Allowing your team to be creative often leads to better outcomes

Knowing When to Follow the Checklist

It’s important to note that sometimes, it is absolutely necessary to follow a checklist. In high-stakes situations or when tasks require utmost precision, a detailed checklist is your best friend. But whenever possible, try to provide your team with a “field to play on” rather than a narrow line to walk.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Time-stamped show notes

• [00:30] Intro
• [00:58] Newsletter Signup Promotion 
• [01:52] Delegation Discussion Begins
• [02:11] The Carwash Story
• [07:20] Delegation vs. Task Assignment
• [08:12] Importance of Autonomy
• [08:48] The Ritz-Carlton $2,000 Rule
• [10:51] Delegation with Kids Example
• [12:28] Importance of Problem-Solvers
• [12:57] When Checklists are Necessary
• [13:47] Empower Your Team