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Why You Must Focus On Increasing Your Income
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Transcript
Introduction to the Solarpreneur Journey
00:00:03
Speaker
Welcome to the Solarpreneur Podcast, where we teach you to take your solar business to the next level.
00:00:08
Speaker
My name is Taylor Armstrong.
00:00:10
Speaker
I went from $50 in my bank account and struggling for groceries to closing 150 deals in a year and cracking the code on why sales reps fell.
00:00:19
Speaker
I teach you how to avoid the mistakes I made and bring in the top solar dogs of the industry to let you in on the secrets of generating more leads, falling up like a pro, and closing more deals.
Defining a Solopreneur
00:00:31
Speaker
What is a solopreneur, you might ask?
00:00:33
Speaker
A solopreneur is a new breed of solopro that is willing to do whatever it takes to achieve mastery, and you are about to become one.
00:00:42
Speaker
What's up, solopreneurs?
Importance of Income Growth
00:00:43
Speaker
Today, we're talking about why you should focus on increasing your income, if that's not a no-brainer already.
00:00:51
Speaker
But I'm going to explain more about that and why we're picking that topic today.
00:00:56
Speaker
Welcome to the podcast.
00:00:57
Speaker
If you're new, my name is Taylor Armstrong.
00:00:59
Speaker
I'm your host, and I'm here to help you increase your sales, increase your income, and have a much better time doing it.
00:01:08
Speaker
We are talking about the solar industry.
00:01:10
Speaker
If you are not selling solar, listen to this podcast.
00:01:14
Speaker
What are you doing?
00:01:14
Speaker
Hit me up.
00:01:15
Speaker
I've got an opportunity for you if you qualify.
00:01:19
Speaker
It's not a fit for everybody.
00:01:20
Speaker
Okay, but welcome back to the podcast.
00:01:25
Speaker
And welcome if you are new.
00:01:27
Speaker
Hope you're doing awesome.
00:01:28
Speaker
Hope you're gearing up for a great summer of selling.
Supporting a Friend in Need
00:01:32
Speaker
If you didn't listen to last podcast already, I just got back from doing a little week of pest control.
00:01:39
Speaker
I didn't actually sell a ton.
00:01:40
Speaker
I was helping more out there to help a buddy out.
00:01:44
Speaker
You heard the whole story last time, but wife has cancer.
00:01:48
Speaker
And pretty sad situation.
00:01:49
Speaker
So if you want to donate to that cause, you still can.
00:01:52
Speaker
It's in the link for the previous episode.
00:01:55
Speaker
But your boy is back now.
00:01:57
Speaker
Your boy is back in solar.
00:01:59
Speaker
Just threw an account this morning.
00:02:01
Speaker
And let me tell you, it is good to be back selling solar.
00:02:05
Speaker
Anyone that has sold pest control, it's a grind.
00:02:08
Speaker
You're taking tons of no's out there.
00:02:09
Speaker
Some people say solar is...
00:02:12
Speaker
less motivating because you got to talk to more people to get a sell.
00:02:17
Speaker
But I would disagree.
00:02:19
Speaker
I was out there.
00:02:20
Speaker
I only knocked like five, six hours for the whole week.
00:02:22
Speaker
So not a ton.
00:02:23
Speaker
I wasn't out there grinding.
00:02:26
Speaker
But for me, it's crazy.
00:02:28
Speaker
Part of it is I don't know how to sell pest control as well.
00:02:31
Speaker
But I took so many no's to get to that one yes.
00:02:35
Speaker
And I did throw some guilt in there.
00:02:38
Speaker
The one yes I got was
00:02:41
Speaker
Um, I had to kind of guilt trip him, say it's for a good, good cause.
00:02:45
Speaker
I was helping a buddy out with, um, his business while his wife had cancer.
00:02:49
Speaker
And that's how I tipped him past the point and got the cell, but it wasn't easy.
00:02:55
Speaker
So kudos to all those guys that are out selling pest control.
00:02:59
Speaker
Um, for me, I think solar is a much better cell, much easier, like it a lot better, which is why I do the podcast, but it's,
00:03:08
Speaker
I regress.
00:03:09
Speaker
Today, we're going to be jamming on why you should focus on increasing your income.
00:03:15
Speaker
And the reason I'm talking about this, little story to go with it, right?
Lessons from Financial Frustrations
00:03:22
Speaker
As we're coming back from North Carolina, well, first of all, the trip there, we took a red-eye flight, we flew to Vegas, or sorry, we drove to Vegas, and
00:03:32
Speaker
And we had to drop our kids off.
00:03:34
Speaker
So in-laws came who live in Southern Utah.
00:03:38
Speaker
We dropped the kids off, made the switch, and then hopped on the plane for a red-eye flight.
00:03:45
Speaker
And we flew, was it Frontier?
00:03:48
Speaker
Yeah, I think it was Frontier.
00:03:51
Speaker
One of the cheap ones, right?
00:03:54
Speaker
But we get on to the gate and we're lining up, getting on the plane.
00:04:00
Speaker
All of a sudden they say, hey, your bag's not going to fit in this bin.
00:04:04
Speaker
They have the little measuring little compartments that they make you stick your bag in.
00:04:12
Speaker
And I've got this nice bag.
00:04:16
Speaker
I'm forgetting the brand right now, but it has like a million pockets.
00:04:19
Speaker
It's basically the size of like a carry-on bag, but you throw it on your back.
00:04:24
Speaker
And, um, I've never been stopped before.
00:04:27
Speaker
I've flown plenty of cheap flights, never been stopped just because I always have this thing on my back.
00:04:33
Speaker
So people just assume it's a backpack, but this time this kid was no joke.
00:04:38
Speaker
He looked like this teenager kid, but he makes me take it off.
00:04:42
Speaker
It obviously is not going to fit in this tiny little compartment.
00:04:46
Speaker
So we get to the front and he's like, all right, that's going to be $200 because my wife, she had a backpack too.
00:04:52
Speaker
Hers was smaller.
00:04:53
Speaker
But her backpack, I'm just like, all right, babe, you don't have to fit it anywhere.
00:04:58
Speaker
As long as it's on your back, they're not going to question you.
00:05:00
Speaker
That's how it's always been for me.
00:05:03
Speaker
So we end up paying.
00:05:06
Speaker
We got little discounts.
00:05:08
Speaker
You had to go on the app.
00:05:10
Speaker
She got a little discount.
00:05:11
Speaker
I think we paid 140 bucks.
00:05:14
Speaker
to book these bags.
00:05:16
Speaker
So super annoyed.
00:05:19
Speaker
And long story short, on our way back, we get the flight back to Vegas from North Carolina.
00:05:27
Speaker
And this time I'm like, all right, there's no way I'm paying another 140 bucks to book these stupid bags.
00:05:35
Speaker
It's like the price of one ticket.
00:05:36
Speaker
We got like cheap flights out there.
00:05:39
Speaker
So we're doing all this shoving clothes in my backpack, making my wife's bag as small as possible to fit in the slot.
00:05:48
Speaker
We get to the gate.
00:05:50
Speaker
I'm like, all right, I'm just going to buy the bag in advance.
00:05:53
Speaker
I don't have to worry about it.
00:05:56
Speaker
I don't have to have them hassling me for...
00:06:01
Speaker
um not booking the carry-on before so we get to the front and i see tons of people are wearing bigger backpacks a lot of people have carry-ons and i noticed the lady checking people and she's not making people stick their bags in the slots she's not making people measure their bags and i'm like wait a second she's not checking it why did i pay for this bag
00:06:27
Speaker
We go through security.
00:06:29
Speaker
I'm like, you know what?
00:06:30
Speaker
Could I get like a refund on this?
00:06:32
Speaker
But, you know, too late.
00:06:33
Speaker
I already bought the bag.
00:06:35
Speaker
It's whatever.
00:06:36
Speaker
So spend an extra $70 when I didn't have to.
00:06:41
Speaker
And let me tell you, for some reason, this bugged me the entire flight.
00:06:44
Speaker
I'm like, man, I just spent $70 when I didn't have to.
00:06:48
Speaker
I could have used that money to gamble, right?
00:06:50
Speaker
I'm going to Vegas.
00:06:52
Speaker
Could have had me some fun tonight.
00:06:56
Speaker
Could have bought me a nice steak dinner.
00:06:58
Speaker
Just all the thoughts of what I could have done with that 70 bucks were racing through my head.
00:07:03
Speaker
And I let it bug me and annoy me so much.
00:07:05
Speaker
I was complaining to my wife about it.
00:07:08
Speaker
And I know it sounds stupid.
00:07:09
Speaker
It's like 70 bucks.
00:07:10
Speaker
No big deal, right?
00:07:11
Speaker
We're in solar.
00:07:12
Speaker
That's nothing.
00:07:13
Speaker
But I just focus so much on this money I lost.
Income Over Losses
00:07:17
Speaker
And then all of a sudden, midway through this flight, it's a four-hour flight, it slapped me in the face.
00:07:22
Speaker
I'm like, Taylor, what are you doing?
00:07:24
Speaker
letting this get in your head so much why are you complaining so much about an extra 70 bucks that you didn't have to spend why don't you focus on increasing your income all that time effort energy you spent focused on what you just lost and that money that could have gone towards other things you could have been thinking about what's the next cell how can I replace that 70 bucks
00:07:51
Speaker
How can I knock that next door?
00:07:52
Speaker
Because most of us, we should be making at least 70 bucks an hour knocking doors if you break it down.
00:07:59
Speaker
Most of us are probably making a lot more than that.
00:08:03
Speaker
So I snapped out of it, but this bugged me so bad that I thought I'm going to do a podcast episode about this because I wonder if there's other cheapos out there like myself that get bugged by losing 70 bucks just like I did.
00:08:17
Speaker
And so that's why we're talking about this today.
00:08:21
Speaker
So for those of you who have lost money, who have done stupid things with your money, how about instead of focusing on the money you lost, focus on how can you replace that?
00:08:32
Speaker
How can you go make 10 times that so you don't have to worry about losing 70 bucks?
00:08:38
Speaker
How can you get to the point where you lose 700 bucks and it's not a big deal?
00:08:42
Speaker
Because those are the thoughts you should be having.
00:08:45
Speaker
It shouldn't be about the money you lost.
00:08:48
Speaker
because you attract what you think about.
00:08:51
Speaker
Me thinking about the $70 I lost, it put me in a scarcity mindset.
00:08:56
Speaker
It put me thinking like a poor man.
00:08:59
Speaker
These things are what middle and low income earners do, is they think about how can I save money to increase my income?
00:09:09
Speaker
How much can I save?
00:09:10
Speaker
How much can I skimp?
00:09:12
Speaker
What deal can I get?
00:09:13
Speaker
And you guys know I love deals if you've been listening to the podcast for a while.
00:09:17
Speaker
I'm a sucker for good deals, right?
00:09:19
Speaker
But sometimes I take it too much to an extreme.
00:09:22
Speaker
Instead of focusing on the deals, how much I can save, I need to be focusing on how can I increase my income.
Saving and Investing Tips
00:09:29
Speaker
And one of my favorite people that talks about this, Grant Cardone, we all love Uncle G, Grant Cardone, but he gets in debates all the time just trashing Dave Ramsey,
00:09:41
Speaker
If you know Dave Ramsey, he's all about how can you save?
00:09:43
Speaker
I used to be all about Dave Ramsey.
00:09:45
Speaker
My parents were super into him.
00:09:47
Speaker
Dave Ramsey, if you don't know him, he's all about the middle class mindset, like saving your way to financial freedom.
00:09:54
Speaker
But as I've listened to other people, Robert Kiyosaki, Grant Cardone, I don't agree with this anymore.
00:10:02
Speaker
So if you're constantly focused on how much can I save, how much can I save?
00:10:07
Speaker
I think it's their own mindset to have.
00:10:10
Speaker
We should be focusing on how can we increase what we're making.
00:10:13
Speaker
And don't get me wrong, there's a time and a place to say we all should be saving.
00:10:18
Speaker
You all should be living on as little as possible to increase your income.
00:10:23
Speaker
Most people, they do the opposite.
00:10:24
Speaker
They increase their income, then they increase their expenses.
00:10:28
Speaker
But how...
00:10:30
Speaker
How can you increase your income without increasing your expenses?
00:10:34
Speaker
Try to live on 20% of your income.
00:10:38
Speaker
And then with that 80% of it, invest it, right?
00:10:42
Speaker
Side note, speaking of saving, if you have not opened an Apple savings account, you should.
00:10:48
Speaker
Apple just came out with a bomb savings account.
00:10:52
Speaker
Gets a 4.15 APY.
00:10:55
Speaker
per year, which is as far as I know, that's like the best savings account you can open right now.
00:11:01
Speaker
I think there's a Capital One that I had before that got me like 3.6, 3.7.
00:11:06
Speaker
But hey, open yourself an Apple savings account.
00:11:08
Speaker
All you got to do is go to the Wallet app on your iPhone.
00:11:12
Speaker
Everyone should have iPhones listening to this podcast.
00:11:14
Speaker
If not, you're missing out.
00:11:16
Speaker
But go to the Wallet app right now.
00:11:19
Speaker
Click on your Apple.
00:11:20
Speaker
You should have the Apple credit card too.
00:11:22
Speaker
It's bomb.
00:11:23
Speaker
But click on that and then there's a savings button.
00:11:26
Speaker
I didn't see it at first.
00:11:27
Speaker
You do have to have the latest update on your iPhone to see this.
00:11:32
Speaker
But go open an Apple savings account and dump all your savings in there, the money you're not investing.
00:11:38
Speaker
Sidetrack, sidetrack.
00:11:40
Speaker
But back to the point, focus on increasing that income.
00:11:46
Speaker
And then another thing, if it's not a tax write-off, maybe don't buy it.
00:11:51
Speaker
You can write off a lot of things in your business.
00:11:54
Speaker
Everyone should be filing as an LLC.
00:11:56
Speaker
I personally do an S corp, but you should be writing off everything you can.
00:12:01
Speaker
Every meal, how can you make it a business meal?
00:12:04
Speaker
Every meal I go on with my wife, we talk about some business.
00:12:07
Speaker
So, and I'm not an accountant, okay?
00:12:10
Speaker
I'm not giving tax advice, but this is what I do.
00:12:15
Speaker
And as far as I understand, if it is a business conversation you're having,
00:12:20
Speaker
then that can be written off as a business meal, right?
00:12:24
Speaker
So those different things to think about.
Aligning Spending with Business
00:12:26
Speaker
Okay, and then last point about this, remember the objections you have in your own life are going to come up in the close.
00:12:35
Speaker
So for me, if I'm so worried about saving money, if I'm so worried about getting the best deal possible, guess what's going to happen in my closest?
00:12:44
Speaker
The people I show up to are going to think at the same time, and that has happened to me.
00:12:50
Speaker
Because no matter how you explain it, no matter how good a closer you are, if you have these thoughts in your head, it's going to show up in the close.
00:13:00
Speaker
So think about that.
00:13:02
Speaker
Focus on increasing your income.
00:13:03
Speaker
You don't save your way to wealth.
00:13:06
Speaker
You earn it and you invest it.
00:13:09
Speaker
So focus on how can I increase my income?
00:13:12
Speaker
How can I invest in my skills to get to the point where I am doubling my income?
00:13:18
Speaker
The best way to do that right now, hit me up.
00:13:21
Speaker
We've got a few spots in our coaching group.
00:13:24
Speaker
People are getting massive results.
00:13:27
Speaker
So if you are interested in doubling your income,
00:13:30
Speaker
Shoot me a DM.
00:13:31
Speaker
Shoot me an email.
00:13:32
Speaker
Taylor at Solarpreneurs.com.
00:13:34
Speaker
We can have that conversation if you do want to double your income.
00:13:38
Speaker
But keep listening to content like this.
00:13:40
Speaker
Invest in yourself.
00:13:42
Speaker
And if you have a house, for crying out loud, you better have solar on your house.
00:13:47
Speaker
I remember I actually heard a podcast where Grant Cardone interviewed someone in the solar industry.
00:13:53
Speaker
And I'm not going to say his name, but this guy, Grant asked him if he had solar on his house.
00:13:59
Speaker
He said no.
00:14:00
Speaker
And Grant Cardone just trashed this guy.
00:14:02
Speaker
Like, how can you be selling a product that you aren't willing to invest in yourself?
00:14:06
Speaker
Okay, so think about that.
00:14:11
Speaker
I got solar on my house that we have here.
00:14:13
Speaker
Came with the house.
00:14:14
Speaker
Okay, but I like to think that's
00:14:17
Speaker
I'm a proud advocate for solar.
00:14:19
Speaker
Got it on my place here.
00:14:20
Speaker
Okay, and then get organized.
00:14:24
Speaker
Another thing that I think goes hand in hand with this, look in your fridge right now.
00:14:29
Speaker
Have you got things in there from three months back?
00:14:32
Speaker
Look in your closet.
00:14:33
Speaker
Do you have clothes that you're not wearing?
00:14:35
Speaker
Do you have stuff that you're not using?
00:14:37
Speaker
Okay, get what you need.
00:14:39
Speaker
And then if you don't love it, get it out of there.
00:14:43
Speaker
A cluttered mind.
00:14:45
Speaker
is going to create clutter in your life and is not going to lead to success and it's not going to lead to more income.
The Power of Organization
00:14:52
Speaker
It's not going to lead to more sales, to more closes.
00:14:55
Speaker
So get organized in your personal life.
00:14:59
Speaker
Make sure you are applying the principles of organization to your sales, to your customers.
00:15:07
Speaker
to your follow-up game, that's going to help tremendously.
00:15:10
Speaker
Hey, Ann, go read.
00:15:12
Speaker
There's a book, Life-Changing Magic of Tidying Up by Marie Kondo, I think is her name.
00:15:19
Speaker
Great book.
00:15:20
Speaker
She talks about basically just organizing, tidying things.
00:15:24
Speaker
I think she has like a Netflix series too.
00:15:26
Speaker
But making things tidy, and if you don't love something in your place, get it out of there.
00:15:33
Speaker
Okay, great principle.
00:15:35
Speaker
And speaking of organization, we are going to have someone that is a master at this for the next episode.
00:15:43
Speaker
So make sure you tune in.
00:15:44
Speaker
She is the mastermind behind SolarCon.
Upcoming Guest and SolarCon Insights
00:15:47
Speaker
If you attended SolarCon,
00:15:49
Speaker
You saw how well put together it was.
00:15:52
Speaker
I'm sure there's only room for improvement, but she is the mastermind behind a lot of these things.
00:15:58
Speaker
Her name is Lindsay Tuofu.
00:16:00
Speaker
She's going to be on the next episode dropping some bombs and helping you be more organized and also giving you a little bit behind the scenes of SolarCon if you were at that event.
00:16:10
Speaker
So make sure you're tuning in.
00:16:13
Speaker
Send this to someone who is cheap.
00:16:16
Speaker
And if you're cheap, like I am a lot of times,
00:16:19
Speaker
Try to get that out of your head.
00:16:20
Speaker
Yeah, you can look for deals, but don't let it get in your head like I did an entire flight home where I literally was pissed off that I lost 70 bucks.
00:16:30
Speaker
Okay.
00:16:33
Speaker
But yeah, if you're on a flight, maybe don't.
00:16:36
Speaker
Yeah, maybe see if you can get past it.
00:16:38
Speaker
Not bad to save 70 bucks if you can, but don't let this things get in your head.
00:16:43
Speaker
So that's the topic today.
00:16:44
Speaker
Hope it helps.
00:16:45
Speaker
Go close some deals this week.
00:16:47
Speaker
Go increase your solar business.
00:16:49
Speaker
Get some new clients and we'll see you on the next one.
00:16:54
Speaker
Hey, solopreneurs,
Introducing SoulCity Community
00:16:55
Speaker
quick question.
00:16:55
Speaker
What if you could surround yourself with the industry's top performing sales pros, marketers, and CEOs and learn from their experience and wisdom in less than 20 minutes a day?
00:17:05
Speaker
For the last three years, I've been placed in the fortunate position to interview dozens of elite level solar professionals and learn exactly what they do behind closed doors to build their solar careers to an all-star level.
00:17:17
Speaker
That's why I want to make a truly special announcement about the new learning community exclusively for solar professionals to learn, compete, and win with top performers in the industry.
00:17:28
Speaker
And it's called Solcite.
00:17:30
Speaker
This learning community was designed from the ground up to level the playing field and give solar pros access to proven mentors and
00:17:37
Speaker
who want to give back to this community and help you or your team to be held accountable by the industry's brightest minds for, are you ready for it, less than $3.45 a day.
00:17:49
Speaker
Currently, SoulCity is open, launched, and ready to be enrolled.
00:17:55
Speaker
So go to SoulCity.co to learn more.
00:17:59
Speaker
and join the learning experience now.
00:18:03
Speaker
This is exclusively for solopreneur listeners, so be sure to go to solcity.co and join.
00:18:10
Speaker
We'll see you on the inside.