Season 1,

60: How to Survive Not Making Money for 12 Months with Jim Palmer

June 15, 2017

Let’s face it. Entrepreneurship isn’t always glamorous. But the temporary pain is so worth it for the long-term rewards of working for yourself. Jim’s story will inspire you that you can make it through absolutely anything, as long as you never give up!

Jim Palmer is a marketing and business building expert and in-demand coach. He is the founder of the Dream Business Academy and Dream Business Coaching and Mastermind Program. He is the host of Dream Business Coach TV, the hit weekly Web TV show watched by thousands of entrepreneurs and small business owners, and he is also the host of Dream Business Radio, a weekly podcast based on Jim’s unique brand of Smart Marketing and Business Building Strategies.

Jim is a cancer survivor, has been married for over 37 years and has four grown children. Recently, Jim and his wife Stephanie JUST SAID YES to their dream of living on a boat. Join their adventure, which is chronicled on Our Floating Home.

Time Stamped Show Notes

[3:00] Jim is now living and working on a yacht with his wife. After realizing they had lived a predictable life, they decided to go on a big adventure.

[6:22] After writing his 7th book Decide: The Ultimate Success Trigger and after an event called Dream Business Academy, Jim wrote Just Say Yes, to teach how to say yes even when you’re not prepared.

[7:52] Putting into practice what he wrote, Jim and his wife went into the ocean to conquer their fears and move forward in life with what it presents.

[9:30] Having his position eliminated from a company where he worked as as VP of marketing, the blackest times came when going for a year and a half unemployed and with stage 2 cancer, the only way to go from that is up.

[10:54] Having his business card made as “Founder of Dynamic Communication” Jim feel better but for 12 months he went without a client.

[11:50] Being an entrepreneur wasn’t as easy as he thought, despite having a good service and good prices. But the key was to keep going to soon find the gold he was looking for. Jim was ready to go through the trials and tribulations to be successful.

[14:35] Lines of credit is what allowed Jim to continue for over a year without a client.

[15:23] After working with a mindset coach, he figured he can’t save his way out of debt so the solution was to achieve a six figure business by focusing on growth.

[18:24] After getting his first client, the others rapidly came because of all the seeds he planted and nurtured.

[19:45] After 5 years of his business and realizing he didn’t have a business if he wasn’t there, he went on to learn online marketing and to create 5 internet companies and a coaching program.

[22:15] A small business focuses in increasing sales, an entrepreneur focuses in creation multiple sources of revenue,

[24:00] If he had stayed in his first business, his greater loss would have been being chained to his desk and not achieving the lifestyle he wanted.

[26:29] Failing Forward Segment

  • What is the bottom line reason of this failure? – “I would’ve failed because I made the decision that I didn’t have what it takes to stick it out.”
  • What is the single most important lesson they and you learned from this? – “Not giving up and you need to understand that nothing happens quickly and easily.”
  • What are the major ways you protect yourself from future failures? – “I surround myself with other smart people and I seek good counsel and also I’m not afraid to trust my gut.”
  • Who do you turn to when you need help?I’ve a couple close friends that I’ve been in high level masterminds with, my greatest mentor as an entrepreneur is Dan Kennedy.
  • What advice would you give to someone in a similar position? – “Don’t be afraid to ask for help, and ask for help sooner. The quickest way to get from point A to point B is to ask somebody who’s already been there and then follow that lead.”

[34:14] If you are looking to achieve a six or seven figure income, you can find Jim’s Dream Business Mastermind and Business Program at www.dreambizcoaching.com.

[35:] Jim’s final thought: “If you are not earning the income that you want from your business or you working 80 hours a week still, it doesn’t have to be that way. You will earn significantly more income from who you are than what you do. It’s not about you been better at the deliverable, it’s all about your brand and the positioning in the market place.”

To hear this episode and many more like it on your mobile device, you can subscribe to How To Lose Money via iTunes or Stitcher.

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