Summary of "The $100 MBA Show" Episode MBA2248: Extended Interview with Bradley T. Morris – How to Build a Business That You Love
Release Date: February 20, 2023
Host: Omar Zenhom
Guest: Bradley T. Morris, Founder of Magic Media
Introduction: Embracing a Passion-Driven Business
In episode MBA2248 of The $100 MBA Show, host Omar Zenhom engages in an in-depth conversation with Bradley T. Morris, the multifaceted entrepreneur behind Magic Media. Recognized as a “modern-day business renaissance man,” Morris exemplifies how to build a thriving business centered around personal passions and creativity, all while maintaining a balanced and fulfilling lifestyle without relying on social media.
Early Life and Entrepreneurial Spark
Bradley T. Morris shares insights into his unconventional upbringing and early entrepreneurial ventures. Growing up on Salt Spring Island in British Columbia, Morris describes himself as an “oddball” and a “class clown” who struggled with traditional education but found his calling in entrepreneurship from a young age.
Bradley T. Morris [04:47]: "I was more there for the social atmosphere, but my parents were always supportive of my own spark. I was always scheming up ideas to make some side money to buy the things that I wanted."
At 19, Morris moved from Ontario to British Columbia to pursue pro golf and attended business college under parental pressure. However, his passion for entrepreneurship prevailed, leading him to drop out after two years to fully commit to building his own ventures.
Building Multiple Business Ventures: A Chapter-Based Approach
Morris employs a unique “chapter book” methodology in his entrepreneurial journey, treating each business venture as a distinct chapter rather than a permanent commitment. This approach allows him to dive deeply into specific projects, complete them, and then move on to new endeavors when the time is right.
Bradley T. Morris [07:35]: "It's like chapters in your life. I will go deep down the rabbit hole doing a very specific thing... It's all about focusing on the things that you're most excited about."
Throughout his career, Morris has founded and grown various businesses, including Magic Media, which produces workshops and training for business owners, and Magic Kids, a children’s publishing company. His ventures span meditations, children's stories, seminars, and more, all created without the aid of social media. This chapter-based strategy emphasizes building long-term assets that can generate passive income through licensing and partnerships.
Experimentation and Strategic Business Models
Morris likens his business experimentation to that of a scientist, conducting three to six-month trials to validate ideas and assess their potential for enjoyment and profitability. This methodical yet flexible approach allows him to adapt and pivot as necessary, ensuring that each venture aligns with his passions and market demands.
Bradley T. Morris [11:27]: "The way that I coach people in business and stuff is like, if I can see the end goal of where we're going... then that's when I'm like, okay, this is ready."
One significant experiment involved transitioning Magic Media’s online courses to a freemium model, where content was offered for free to gauge engagement and commitment. Although the experiment attracted a large audience of over 2,500 people, Morris found that charging for memberships resulted in higher quality interactions and greater community investment.
The Power of Licensing and Passive Income
A core strategy in Morris’s business model is licensing his content. By creating valuable products and licensing them to distributors or platforms, he generates residual income and enhances brand awareness without the constant need for active marketing.
Omar Zenhom [46:34]: "He's made a lot of revenue in licensing his content, his products, his work. Licensing is the closest thing to absolute passive income."
This approach not only provides financial stability but also expands the reach of his offerings through established distribution channels, creating an indirect marketing effect that bolsters his overall brand presence.
Breaking Free from Social Media: A Deliberate Shift
A pivotal moment in Morris’s career was his decision to leave social media six years ago. Observing the negative impacts on mental health and authentic human connections, Morris chose to disconnect entirely, which led to significant personal and professional growth.
Bradley T. Morris [22:20]: "Social media creeps me out. It's hijacking human consciousness... I have built my business sans the social media monster."
Morris emphasizes the advantages of this decision, noting that his business continued to thrive and even generate more revenue post-disconnection. By focusing on quality over quantity in his marketing efforts, he cultivated meaningful partnerships and leveraged alternative strategies such as workshops and direct community engagement.
Lessons Learned: The Importance of Value and Pricing
Morris recounts early entrepreneurial missteps, including his first business, a T-shirt company with offensive slogans that led to personal downfall. From this experience, he learned the significance of positive branding and aligning business practices with personal values.
Bradley T. Morris [31:16]: "Be mindful of the words that you use... focusing on positive words and positive energy."
Another critical lesson was the failure of the freemium model in his online courses, which taught him the importance of charging for products and services to ensure commitment and quality engagement from customers.
Bradley T. Morris [35:00]: "Charge what feels like the best the people are going to come that are resonant with you, that are up for the journey."
He underscores that pricing not only sustains the business financially but also signals value to customers, fostering a committed and enthusiastic community.
Balancing Ambition with Personal Well-being
Morris advocates for a business approach that prioritizes personal happiness and lifestyle over relentless hustle. By defining clear work hours and maintaining boundaries, he ensures that his professional pursuits enhance rather than detract from his quality of life.
Bradley T. Morris [16:39]: "Living my desired lifestyle now is really, really important. I want my struggles to be my struggles for something that I believe in and something that I want to see exist in the world."
This balance is achieved through disciplined time management, delegation, and focusing on activities that bring joy and fulfillment, such as creative projects and family time.
Future Vision: Creative Expansion and Personal Goals
Looking ahead, Morris envisions expanding Magic Media into full-fledged movie production and creating a creative hub where artists and creators can collaborate. Additionally, he plans to pursue professional golf, blending his athletic aspirations with his entrepreneurial endeavors.
Bradley T. Morris [41:36]: "My future will be full time writing, writing stories, writing movies... hosting world-class musicians, artists, teachers, creators."
This forward-thinking mindset illustrates Morris’s commitment to continuous growth and diversification, ensuring that his business remains aligned with his evolving passions and life goals.
Key Takeaways: Crafting a Business Around Passion and Values
Bradley T. Morris’s interview offers several valuable insights for aspiring entrepreneurs:
- Chapter-Based Approach: Treat each business venture as a distinct chapter, allowing for focused experimentation and adaptability.
- Licensing as Passive Income: Develop high-quality products and leverage licensing agreements to generate residual income and expand reach.
- Value-Driven Pricing: Charge appropriately for products and services to ensure customer commitment and sustain business operations.
- Mental Well-being Over Social Media: Disconnecting from social media can lead to enhanced focus, creativity, and personal fulfillment.
- Balancing Work and Life: Define clear boundaries between work and personal time to maintain overall well-being and long-term productivity.
- Continuous Learning and Adaptation: Embrace lifelong learning and be open to pivoting business strategies in response to personal growth and market changes.
Conclusion: Building a Sustainable and Enjoyable Business
Bradley T. Morris embodies the philosophy that a successful business does not require sacrificing personal happiness or well-being. By aligning his ventures with his passions, maintaining a balanced lifestyle, and employing strategic business models, Morris has created a sustainable and fulfilling entrepreneurial journey. His experiences and lessons provide a roadmap for others seeking to build businesses they love without the pressures of constant hustle and the constraints of social media.
Omar Zenhom [45:09]: "Bradley forced me to start seeing things a little bit differently, to have a new perspective on how I build out my day, how I build out my business... Make sure that I'm doing it in a way that feeds me and makes me feel fulfilled."
This episode of The $100 MBA Show serves as an inspiring testament to the power of passion-driven entrepreneurship and the potential for creating a business that not only thrives financially but also enriches one’s life.
Notable Quotes:
- Bradley T. Morris [07:35]: "It's like chapters in your life. I will go deep down the rabbit hole doing a very specific thing... It's all about focusing on the things that you're most excited about."
- Bradley T. Morris [22:20]: "Social media creeps me out. It's hijacking human consciousness... I have built my business sans the social media monster."
- Bradley T. Morris [31:16]: "Be mindful of the words that you use... focusing on positive words and positive energy."
- Bradley T. Morris [41:36]: "My future will be full time writing, writing stories, writing movies... hosting world-class musicians, artists, teachers, creators."
- Omar Zenhom [45:09]: "Bradley forced me to start seeing things a little bit differently, to have a new perspective on how I build out my day, how I build out my business..."