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Avoid Self-Employment Traps

In this transcript, Clay Clark (Founder of Thrive15.com and owner of 9 businesses) and Deedra Determan (PR Consultant/Guru) discuss the importance of avoiding self employment traps on Thrive15.com, the top sales training program.

Clay:    Is it healthy to build a business though that doesn't factor in for an office?

Deedra:    No.

Clay:    So. What do you think Greg should budget in for this office? I mean I don't have any ... In Tulsa, I mean Tulsa's pretty inexpensive.

Deedra:    Right and he works ... I mean he's graphic design so he could work at home if he had his own home.

Clay:    He could work at home, okay.

Deedra:    Yeah. I mean you could do that if you had a place …

Clay:    Is $500 a month? I mean to ... If he has a home office or something. Is $500 a month what we should …?

Deedra:    Yeah. You could get something.

Clay:    Okay. Greg, we're trying to help you here buddy. We're saying with Greg, you got 4 weeks in your month. Maybe if you're watching this, Greg, from a different planet maybe you have different number of weeks a month, but for you Greg, [inaudible 00:00:44] here is $4800 a month that's coming in. That's the most you can make under this scenario. And your office is $500. Now, Deedra, you hear this I'm sure. I hear this all the time, drives me nuts, "Well, you can write it off." 

Deedra:    Yeah.

Clay:    I don't want to write it off. I want money in my pocket. You can learn how to get more money in your pocket by watching sales training videos on Thrive15.com.

Deedra:    Right.

Clay:    But $500, it's an expense. What are other expenses that ...

Deedra:    I mean utilities. I don't know if that's included in that.

Clay:    No, no, nope because he's got, he has some utilities. So utilities. And, I'm just going to make it up here. I'm just trying to help somebody. But we're going to say it's $100. Deedra, what are expenses at 918moms or any business that you just don't think of they just sneak up and get you?

Deedra:    Yeah. I mean does he have his own insurance? Does he have to pay, you know?

Clay:    We're going to pretend that Greg right now, Greg, our main man Greg, he's 27 okay. He's married. He just got married to a wonderful lady. Weird deal, her name is Sarah, but she spells it with an h but you just don't say that part. You don't say that. That's Sarah. He married Sarah. He's 27. They're married, they don't have any kids yet. Insurance? He's got to spend some money on insurance right? So insurance is probably, I mean Deedra, what are we talking about. I mean we're not insurance brokers here but probably $1000 for health insurance and all that? I mean it's probably a lot. 

Deedra:    Right. Yeah.

Clay:    Health, life. What else does he? I mean, does he have a phone for business?

Deedra:    Yeah, cell phone?

Clay:    You just keep giving them to me here. And we …

Deedra:    Computer.

Clay:    You got a computer.

Deedra:    Software.

Clay:    Is he going to lease the computer, like where he gets it, he pays a little bit each month or is he going to buy it one time?

Deedra:    Ah, probably buy it one time, I would think.

Clay:    Greg, I'm going to pretend for some reason you don't have any cash right now and I've been there buddy. I bought a computer from Micron, it's out-of-business now, for like $6000.

Deedra:    I didn't know you could lease.

Clay:    Yeah. You can, I had no money. It was a bad deal. So what's going to, say you got a sweet deal you're paying $29 a month for your computer and then your software and all your hooha. You're going to drop another 100 bucks a month for all that. Your phone is another 100 bucks. So we add this up, Greg. Greg listen to me Greg. You have $1000, $1500, $1600, $1700, $1800. All of a sudden Greg, you're out right now my main man. You're out 2 grand. 

So now Deedra, we were in business. At the end of the month, we only have $2800 to take Super Sarah to the grocery store to you know pay for I mean … It's not really cool living in your mom's garage. And she's like "Can we move you know somewhere else?" And your like "No baby, we're going to live in Mom's garage." And she's like "Greg go to bed, Greg." And your like "Sorry mom." So you have this whole dynamic going on and you only have $2800. So if that's you, do you then raise your prices or what do you do Deedra?

Deedra:    He needs to offer more products to the same people. He does cards; what else can he do for the same client?

Clay:    Okay. So now Greg, you're going to go from cards to offering what else we can do? Maybe like a brochure?

Deedra:    Brochures.

Clay:    Okay.

Deedra:    Any print piece.

Clay:    Print pieces.

Deedra:    Website design.

Clay:    Website design. You can do handwriting classes. Okay. Cards, brochures, web, print, lot. Next thing you come back now, Greg, if we're lucky we call the same people. Would you agree it's easier ...

Deedra:    Right.

Clay:    ... to sell more stuff to the same people than it is to sell to new people?

Deedra:    Yes.

Clay:    Okay. So we say that Greg, great things have happened for you Greg. Boom, Dude. Now through miraculous turn of events, you've now doubled your income because you listened to Deedra's Super Sale System. And, you've called your clients, not to sell, but to find more problems you can solve.

Deedra:    Right. Right.

Clay:    So let's just pretend for a second that you had to call me and I'm a client of yours. What kind of stuff do you say to me to see if there's more things I want to buy?

Deedra:    Yeah. I mean, I think asking what other services they use with a graphic designer. If they've been happy with your work, can you take care of those services as well?

Clay:    Okay. So you're like "Hey, you know …" Bing badaboop. "Hey Greg, yeah, you know this is Clay and I wanted to call and se e…" It's weird I'm calling Greg to sell Greg. But just work with me Greg. "So hey, are you happy with the work? Well, yeah, hey, I wanted to tell you we also offer web design and brochures. Is there anything else you need right now or are you all good?" "Well, I do have a trade show coming up." "Okay, well …" cha-ching.

Deedra:    Yes.

Clay:    "Why don't we help you with your brochures, your banners, your ..." 

Deedra:    Yeah.

Clay:    So that required some sales.

Deedra:    Right. Yes.

Clay:    So, again, if you're starting a business, you got to do that sales thing, okay

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