Podcast Summary: The Money Mondays Episode: Michael Sartain & Michael Mojo: What Stops MOST Entrepreneurs from Succeeding? 💵 E93
Release Date: October 28, 2024
Host: Dan Fleyshman
Guest: Michael Sartain

Introduction

In Episode E93 of The Money Mondays, host Dan Fleyshman delves into the obstacles that prevent most entrepreneurs from achieving success. Joined by guest Michael Sartain, a seasoned coach and founder of Men of Action Mentoring, the discussion spans personal branding, investment strategies, the importance of mindset, and philanthropy. Recorded in an RV Motorhome outside Hubble Studios, the episode provides actionable insights aimed at empowering entrepreneurs to overcome common challenges and thrive in their ventures.

Guest Biography

[01:45] Michael Sartain:
Michael Sartain brings a wealth of experience to the podcast. With a background in the Air Force as a special ops operative and a stint in counterintelligence, Michael transitioned into the financial sector as a portfolio manager at a fund specializing in short stock options. Following personal tragedies and a period of self-reflection, he immersed himself in the self-help space, reading extensively and seeking mentorship from figures like Tai Lopez. In 2019, Michael founded Men of Action Mentoring, focusing on helping men enhance their networking, communication, leadership, and dating skills. His program boasts over 2,500 participants with a remarkably low refund rate of below 1.5%, highlighting its effectiveness and the strong community built around it.

Making Money: Personal Branding and Problem-Solving

[00:03] Michael Sartain:
Michael emphasizes the significance of solving problems for others as a pathway to wealth.
"If you think about this as an entrepreneur, what problems can I make go away for other people? Give away a bunch of free content showing that I'm a subject matter expert in whatever that field is. And then if 1% of my audience buys my program, I will be outrageously wealthy."

By positioning oneself as an expert and providing value upfront, entrepreneurs can attract a dedicated audience willing to invest in their offerings. This strategy not only builds trust but also creates a sustainable revenue stream when even a small percentage of the audience converts into paying customers.

Challenges Entrepreneurs Face

[04:31] Michael Sartain:
Michael discusses societal conditioning that discourages individuals, particularly men, from pursuing substantial financial success.
"Ty talks about this. I just finished Dan Kennedy's book, Speak to Sell, and he goes over this specifically, which is this idea that you have been taught your whole life that making exorbitant amounts of money is bad."

He further explores the jealousy and societal backlash that arises when individuals, especially young women on platforms like OnlyFans, achieve significant financial success. This phenomenon creates a divide where the majority struggle with limited opportunities, fostering feelings of inadequacy and resentment.

The Role of Personal Branding in Investing

[13:18] Michael Sartain:
Personal branding serves as a crucial motivator and investment tool.
"The personal brand thing is such a key motivator... Anytime you have a big brand like that, that's always what you're going to find is that you're going to have people lay down for you."

A strong personal brand not only reduces the cost per client by increasing organic reach but also opens doors to exclusive opportunities, such as speaking engagements and partnerships with industry leaders. Michael cites examples like Alex Hermosi, whose brand attracts high-quality clients effortlessly.

Importance of Investing Money

[15:10] Michael Sartain:
Investment is essential to combat inflation and ensure capital growth.
"If you put your money in the bank... you're losing against inflation. What you want to do is certificates of deposit... But the best risk, the best ROI that you can possibly do is investing in your own business."

Michael advocates for a diversified investment strategy, encompassing real estate, the stock market, and private equity. He highlights the benefits of investing in one's own business due to its scalable nature and higher ROI potential compared to speculative investments like cryptocurrencies.

Dan Fleyshman’s Investment Principle:
Dan shares his 40/40/20 Investment Principle, allocating his portfolio to low-risk (40%), medium-risk (40%), and high-risk (20%) investments to balance growth and stability.
"The S&P 500, which over the last 92 years has averaged 11.1% a year. Nothing can beat 11% a year... your bank is offering 5.1% for a CD. That's not low risk, that's no risk." [17:11]

Investing in Health and Mindset

[10:43] Michael Sartain:
Investing in oneself is paramount for sustained success.
"If right now you are making less money than an Uber Eats driver, quit your job. Go drive for Uber Eats... listen to podcasts, YouTube videos, Coursera, Khan Academy." [20:27]

Michael underscores the symbiotic relationship between physical health and mental resilience. Maintaining a healthy body enhances cognitive function and emotional stability, which are critical for effective decision-making and entrepreneurial vigor.

Value of Coaching and Masterminds

[38:22] Michael Sartain:
Engaging with coaches and masterminds accelerates personal and business growth.
"Hiring mentors, hiring coaches, or joining masterminds in your niche... it will literally fast forward your life. It'll fast forward your success rate." [43:41]

Dan illustrates this point by comparing the entrepreneurial journey to navigating a forest. Having a mentor like Daymond John can help entrepreneurs avoid common pitfalls and efficiently reach their financial goals, much like having an experienced guide through a dense forest.

Philanthropy and Personal Brands

[22:59] Michael Sartain:
Philanthropy is a natural progression for successful entrepreneurs, serving as a balance to the value exchange inherent in capitalism.
"Philanthropy is important... Once you get out of survival, you get to thrive, means you get to help more people." [49:59]

Michael believes that as entrepreneurs accumulate wealth, engaging in charitable activities not only benefits society but also enriches their personal brands by demonstrating social responsibility and gratitude.

Conclusion

Episode E93 of The Money Mondays offers a comprehensive exploration of the multifaceted challenges entrepreneurs face and the strategies to overcome them. Through Michael Sartain's insights, listeners gain valuable perspectives on building a personal brand, making informed investment decisions, prioritizing health and mindset, and the role of philanthropy in personal and professional growth. The episode serves as a motivational guide for entrepreneurs aiming to navigate their journey toward financial success and personal fulfillment.

Notable Quotes:

• Michael Sartain [00:03]:
  "If you think about this as an entrepreneur, what problems can I make go away for other people? ... if 1% of my audience buys my program, I will be outrageously wealthy."

• Dan Fleyshman [15:10]:
  "The S&P 500, which over the last 92 years has averaged 11.1% a year. Nothing can beat 11% a year."

• Michael Sartain [20:27]:
  "If right now you are making less money than an Uber Eats driver, quit your job. ... listen to podcasts, YouTube videos, Coursera, Khan Academy."

• Michael Sartain [38:22]:
  "Hiring mentors, hiring coaches, or joining masterminds in your niche... it will literally fast forward your life."

• Michael Sartain [22:59]:
  "Philanthropy is important... Once you get out of survival, you get to thrive, means you get to help more people."

Resources Mentioned:

• Books:

  • Speak to Sell by Dan Kennedy
  • The Power of Now by Eckhart Tolle
  • The Enlightenment Now by Steven Pinker
  • The Singularity is Near by Rick Herzwald
  • Evolutionary Psychology by Dr. David Buss

• Websites:

  • Men's Coaching: men-of-action.com
  • Michael Sartain's Social: Instagram @Michael_Mojo_Success, Podcast The Underestimated Entrepreneur, michaelmojo.com

Connect with The Money Mondays:

• Website: themoneymondays.com
• Business Loans & Mortgages: elevatorfunding.com
• Social Media: Follow Dan Fleyshman on major platforms for updates and resources.

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