How To Profit From The Crypto Bubble

Bitcoin crossed $6,100 on Friday for the first time.

People ask me every week, “Should I buy Bitcoin? Should I buy this coin, that coin, the other coin?”

My answer is, take every penny you can afford to lose and buy Bitcoin. It will either be ZERO or ONE HUNDRED THOUSAND in 10 years.

I also tell them to expect massive corrections.

Listen, we live in amazing times.

If you are reading this now, count yourself as fortunate.

For many of us, it’s a second chance to catch lightning in a bottle.

My introduction into Bitcoin and the blockchain started relatively late, in 2015 .

An overseas programmer had taken a large sum of money for an asset, and then disappeared. I hired a Russian hacker to regain access to something that was rightfully mine.

The thing was, I couldn’t pay this hacker with anything other than Bitcoin, and I didn’t have any.

Acquiring the coin and sending it was quite the circus. It involved Western Union, which is the single most painful company to run a transaction through in the history of planet earth.

Anyhow, after buying several coins at $250, I paid the deposit the hacker requested and then promptly forgot about the other coins.

2 years later a friend I’ll call, Mr. Block, said to me, “Have you seen Bitcoin lately, it’s at $1,200.”

I spit out my drink and said, “What did you just say?”.

The second I got home I began a frantic hunt for the account and the credentials that held my coins…

I had completely forgotten where they were stored. Luckily I found them within an hour and began the process of moving them to a more secure location.

My blockchain portfolio is up 10x since then, but the truth is, about 4 months ago I sold all my altcoins and put everything back into the king, BTC.

Now, does that mean BTC is the end all, be all? Absolutely not. In fact, it has limitations for commercial transactions that we all know about. However, as we move through the early stages of mass adoption, it will rise as a bellwether along with blockchain as a whole.

You see, we are in yet another paradigm shift.

Movements that create a complete paradigm change come along once every 50 years. This means your chance to participate and possibly take advantage of these moments is ‘once in a lifetime’.

Prior examples of paradigm shifting moments are:

  • The mass production automobile
  • The television
  • The commercial Internet

I’ve only lived through one of these moments, and I was quite young at the time and tried to take advantage as best I could.

The early dotcom era was, for lack of a better word, FUN. Everything was new, the technology was changing rapidly, and it seemed anything was possible. The operative phrase was ‘get big fast’. Find users, worry about profit later.

Opportunity was everywhere.

That time has come again, and we now have another once in a lifetime paradigm shifts happening right under our noses.

Right now it’s almost as if I’m reliving it all over again. We have all the elements in place of a bubble, and make no mistake, we are in a stone cold, walks like a duck, know it when I see it, flag waving, hype getting, irrational as all hell bubble.

I would go as far as to say that this bubble is even more insane than the dotcom bubble of 2000.

In 2000 we had a number of companies that were engineering new products, services, and marketplaces. Essentially people were taking old ideas and adapting them to dotcom.

Why is it worse now?

Simply because of the volume of worthless, speculative, and ultimately doomed ICOs.

In August, there were 50 ICOs!

The altcoins are essentially worthless as a group. There are a few exceptions of excellent projects and architecture. But at least half of them are pathetic me-too attempts to cash in on the hype. Most of them are subject to penny stock pump and dump schemes.

My advice to those wanting to make money with BTC?

Wait for it…

Wait for the crash…

I feel very strongly there will be a 30%-50%+ pullback in the next 6 months.

And then buy all the BTC you can get your hands on.

I have no idea where the top will be, but I see it being close to $100k. We’re in the very early stages and this is a fixed volume asset. The world has never seen a store of value like this before.

For fun, let’s look at the Interest in BTC vs the actual Price:

To show you how speculative this all is, notice the perfect correlation between the dips in price vs the interest. When it stops making headlines about the MASSIVE GAINS, people stop buying.

Mr. Block is counting on us reaching TULIPMANIA levels with blockchain.

I tell him, “We’re already there…”

Buyer beware.

How to Become Successful in 4 Simple Steps

Let’s say for a moment that you are not exactly where you want to be.

Whether we admit to ourselves or not, we are 100% responsible for every aspect of our lives. If you’re not at that place you dream of, there’s a reason and you can do something about it.

Your choice of peers plays a huge role in this.

You’ve no doubt heard the old adage: “You are the average of your 5 best friends”…Jim Rohn, the motivational speaker coined the phrase that speaks to the core of influence on human behavior.

The energy you absorb from your peers is the a huge factor in determining your future, in business and every other aspect of life.

Negative people will hold you back and seed doubt into your mind.

Positive people find ways to win, and will lift those around them.

Coming from a blue collar town I think I was raised to be ‘realistic’ and ‘self effacing’. These traits do not help entrepreneurs.

For me the biggest change in my career occurred when I started changing who I associated and worked with.

I’m not sure it was a conscious decision or just sort of happened instinctually, but around 2004 I met a guy at a job who shared some interests with me. We hit it off and became friends.

He went on to start a small software company that did really well. He got to work from home, at a time when this was really unusual, and I was really envious.

Every time I went to his house to hang out and talk shop, I thought to myself, “man this would be amazing, how can I make this happen?”…

I couldn’t work with him directly because the company was too small at the time. Over the next couple years we stayed friends and I watched his business grow to over 7 figures. Meanwhile I was still working a j.o.b., which was really frustrating. However, I was picking up some hyper-relevant skills and honing my craft, even if I was doing it for someone else’s company.

We stayed in touch and never stopped talking about schemes or ideas, it was non-stop.

A couple years later we were having a conversation about doing some work together. I mentioned a couple paid advertising campaigns I was managing with Google Adwords. We talked about how much money my clients were making (I had a guy who sold poker chips who made $50k/day).

How can we do that?

What could we sell?

What’s working now?

Well, that afternoon we stumbled on an idea for an affiliate niche.

I did some research and found that this vertical had really cheap traffic, and super high volume.

We discussed a strategy to prove the concept. He would fund $5k in advertising, and we would build the campaign and site.

My partner at the time would start building the landing page, and finished it in a few hours.

We turned on the campaign the next day and voila, we made a few hundred in profit. We were ecstatic.

The next day we turned up the ad spend, and the profit increased even more.

Within a couple days we were making over a $1,000/day.

The business we just started was on it’s way to 7 figures and has never looked back.

A huge reason for the success of the company was this new friend. Someone who could ‘unstick’ problems, communicate effectively, and always move things forward.

I didn’t know it during the process, but what I had done was follow a path of re-invention.

I was trying to avoid people who I felt were holding me back, and was expending more effort to attract and nurture relationships with ‘successful’ people.

Here are the 4 steps I recommend implementing if you want to change your situation:

  • Up-level your peer group

Your current group is likely not getting it done for you. Who is bringing you down? Causing distractions? Stepping on your dreams? Talking you out of new ideas? Cut them loose and replace them with someone who inspires you.

  • Pick a ‘friendtor’ (mentor)

You can’t work with everyone, so out of your new peer group, pick one person to pitch ideas to. There is only 1 rule: This has to be a person who is ALREADY WHERE YOU WANT TO BE.

  • Start a project with them

Engage them, bring ideas to the table, try to get them involved, excited, get their advice, have them fund a project, whatever it takes.

  • Watch, learn, hustle

You will no doubt start to notice things they do that you are not doing. Whether it’s waking up earlier, making more calls, phrasing things more positively, not complaining, etc.. You will be amazed at what you learn if you are open to it.

Learn from these examples!

I hope these steps help you in your journey, they have made a huge difference in mine.

 

Pivot Your Way To $100m

With the proliferation of social media a lot of us are being mislead on a daily basis by all of these overnight millionaires who are selling their ‘systems’…

“Just buy this $9 ebook and you’ll be on your way to 8 figures!”, they say…

Start a Shopify store and make six figures!

Become a coach and make seven figures!

Start an online course and make millions!

Are they all scams?


No, of course not. It’s definitely possible to be successful in those niches, people are doing it everyday.

Here’s the thing though, you don’t see the ‘real’ numbers behind the scenes…

I had a mentor who was coaching another individual (one of the most prolific coaches online today) that was netting almost a million per month. He charges $15,000 for his program.

He told me the success rate among students was only 10% or less…

More specifically:

  • 30% fail to implement
  • 30% implement with no success
  • 30% implement with some level of success
  • 5% achieve success
  • 5% are ‘case study’ worthy

I can tell you this – when I am delivering services to clients and charging my current rates, if I only succeeded 5-10% of the time, I would be out of business in a year or less.

Granted there are, of course, some very good coaches and courses, but this individual is one of the best, with amazing resources at hand to support clients, and he’s STILL only getting a fraction of his students the results that are advertised.

It’s all about playing on people’s desires.

These people focus very intently on creating and exploiting something they call ‘The Gap’…

It’s the distance between your current situation and where you want to be.

Gary’s message is: If you aren’t where you want to be, stop whining and HUSTLE…

He’s talking about the Gap.

He’s advertising his success and the fact that he has made it and you haven’t, therefore listen to Gary V.

(Listen, I LOVE Gary V, but I am simply analyzing and explaining the influencer business)

Watch some of his videos –

It’s all very seductive when you see Gary V or Grant Cardone boarding their G5 and heading to the next media appearance.

People WORSHIP Gary V…

Why is that?

They see his lifestyle, listen to his machine gun delivery full of wit and wisdom, and say, “he’s so cool, he gets it, I want to be like him”….

Sorry, you can’t do Gary V. No one can. There will never be another Gary V.

Why?

Because no one else has taken his path, his experiences are his own, his wisdom is gained through his unique life experience.

You can do only YOU, and that is plenty good enough to life the dream, if you believe it is…

Here’s the truth about Gary V: He’s the overnight 20 year millionaire…

Gary has had an extremely long and hard road to get to where he is currently.

It all sounds great in a 20 second soundbyte, but Gary would be the first one to tell you he has worked his ass off and struggled for 20 years straight.

Ok then, so if I just hustle for 20 years I’ll be rich like Gary V?

Nope, not even close.

You have to pivot along the way and leverage each win into the next thing.

The key is pivoting forward.

Here is how Gary V pivoted into being a millionaire:

Lemonade stand

Took that money and invested in…

Baseball cards

Took that experience and started…

Working in the family wine business

Took that company and pivoted it into

Wine ecommerce

Grew it from $3m to $60m

Took that money and started an agency

Grew it to $100m

And so on…..

 

piv·ot

pivət/ noun

  1. the central point, pin, or shaft on which a mechanism turns or oscillates.
  1. synonyms:
  • fulcrum, axis, axle, swivel; More

In basketball, a pivot is used to get around the person blocking you from your goal…

In business, pivots are movements that take a little bit of success, and leverage the momentum into the next step up.

Gary didn’t write down a plan that said, “I’m going to take over the family wine business so I can start a $100m agency someday”.

He naturally progressed from one to the other as his interests changed.

Here’s how you can pivot successfully as you progress through your career:

Recognize what is truly working

This is simply taking stock of your in house 80-20 data. What’s REALLY working? Is it the tech? Do you have a killer group of salespeople but the wrong product? Maybe your tech could be used for something entirely different.

Examples:

  • Youtube started as a dating site
  • Twitter was a podcasting network
  • Groupon was a fundraising site

Pivot with Authority and Confidence

The team you are leading will be unsure of your plan. You just moved all of their cheese. If you hesitate, waver, or otherwise show indecision, they will start to look for the exits.


You’ve analyzed the situation, and are confident in the new direction, your judgement is sound.


Be confident!

Head Nod Test

If you can’t pass the head nod test, re-evaluate the pivot.

Your move should make complete sense to everyone involved, including customers. When you explain, “Hey, I know we’ve been doing this, but do you see all of this movement over here? We think this is more valuable, and it’s where the business is taking us”, you should get the HEAD NOD…

If you get a blank stare, maybe it’s not the right move…

Listen, the answer lies inside of you, and it’s your path. If you feel like you’re pivoting away from failure, you need to step back and look at the big picture.

If you are pivoting to capitalize on momentum you’ve created, you will have a much easier time getting to the GV 😉

Pivot wisely my friends!  

Evolve Yourself

Don’t Be The Gecko (How To Evolve Yourself)

In Hawaii there is a generally accepted requirement that you must be comfortable with all sorts of insects and critters.

A small price to pay for living in what is generally considered one of the finest places in the world…(as long as you don’t mind parking yourself in the most remote archipelago on the planet)

One of the most common critters is the ordinary house Gecko.

They are harmless, if a little bit messy (they like to poop little Gecko poops)

As far as I can tell, their preferred living space is on a wall, in your living room.

Sometimes when I’m the only one in the house, working hour after hour, I will notice one above the door, just staring at me. An odd moment, when you realize it’s just you and a Gecko, sharing the same space.

Jesus I need an office, don’t I?

Anyhow, Gecko’s may be cute, but they aren’t the sharpest tool in the toolbox.

Turns out one of their favorite hiding places is inside your door jamb.

Smart if you’re trying to avoid detection.

Not-so-smart if you are in the vicinity of the whirling vortex of energy, otherwise known as team grind (my 9 and 11 year old boys).

As they tear through the house frantically trying to locate a missing lego ‘guy’, or shoe, or whatever, they slam doors as if they are escaping Alcatraz after a 30 year jail sentence.

Bam, Wham, Smash, Rattle……Slam!

It shakes the whole house, rattles your formerly calm bones, and causes you to sit up for a second and say, “What the….?”. Until you realize, oh yes, that was Team Grind, my children.

I am safe.

Caught in the worldwind, and dying a brutally quick, violent, but painless death, is Mr. Gecko.

Sitting, cautiously, indecisively, in the door jamb. The Gecko instantly becomes thin like a bookmark. Like a science project.

His mistake?

  • Caution
  • Indecisiveness
  • Timidity
  • Lack of confidence

These are the traits and characteristics of things that get smashed, run over, abused.

You see, the Gecko has nothing to be afraid of. He can climb anywhere and hang from the ceiling and I can never reach him. He should be taunting me for my lack of climbing ability.

Instead, he is afraid and cautious.

Kind of like the person stuck in the job they hate.

They poke their heads out every once in a while, but ultimately climb back into the door jamb of a cubicle, hoping that Team Grind doesn’t come by.

I left my door jamb in 2007 after Gecko’ing for 12 years.

I’d had enough, and realized that I was only realizing a fraction of my real value by building other people’s dreams.

I was responsible for hundreds of thousands in revenue and many of the major clients within an online directory company that was on the fast track to acquisition. The company was eventually sold to a fortune 500 company for millions.

The owners, who were my age, got the big payout, and I got a check for $5,000.

That was it for me. I decided immediately I was no longer the Gecko. I was going to become my own apex predator.

How did I leave the door jamb?

Simple:

  1. Networked
  2. Side Hustled
  3. Full Hustled
  4. Diversified

I had a skill set at the time that was and still is, in great demand.

I could:

  1. Create and manage paid advertising campaigns
  2. Manage clients
  3. Sell when I had to

That’s more than enough to venture on your own.

I picked up a client on the side. It went well.

Couple weeks later I picked up another, that went well too.

The agency that was feeding me clients kept sending more, and within a couple months I was out-earning my Door Jamb salary.

I was grinding like a maniac. Working until 5, hopping on the train. Eating dinner and going back to work until 10, everyday. All day Saturday and Sunday, too.

Did I mention we had just had our first child? Oh, and we were moving to another city?

Talk about stress. Could you pick a more risky time to quit your job?

Well, it wasn’t a hard decision as I remember it. I was so laser focused it seemed insane NOT TO QUIT.

I couldn’t wait any longer. I gave my notice and started the move. They begged me to stay. Work remote, just help us out a little, we’ll pay your full salary…


I said no.

I wanted a clean mental break. No safety net.

I honestly believe that was the key to the whole thing. If I had kept their salary I would not have progressed. I would’ve been tied down for a chunk of hours every week and only keeping a fraction of the profit.

Once I committed, I was out for good, and the parachute simply had to open. There was no other option.

The next year or two was a whirlwind. The business Grew From $10,000 a month to $20,000 a month to $100,000 a month within 2 years.

And that was just the beginning…it’s been a roller coaster ride since then.

I’ll cover the transition from building a successful business to diversifying income in another post.

The point is, you either sit in the door jamb or you move to your own space. The illusion of the door jamb is that you are safe. The reality is, you are at the mercy of everyone else. Nothing is in your control. You can be fired, acquired, railroaded, or smashed at any time.

You may or may not see it coming.

Wouldn’t you rather own the ground you are standing on?

Wouldn’t you rather keep more of the profits you generate?

Wouldn’t you rather build your dream, and make your own choices?

As they say in Hawaii, Chance Um.

Don’t be the Gecko.


Evolve yourself.