05: Networking His Way to a Stable Passive Income by Age 23 with Eli Hochberg
My Guest: Eli Hochberg
Eli Hochberg started his first business at 19, and now, at the tender age of 23, he is already on his 3rd successful venture. He is the founder and king of the LinkedIn 30 days movement #30DS and in addition to generating a passive income from his first credit card processing business, Eli now owns a digital marketing consultancy and moonlights as a police chaplain.
In this episode we get to hear the single most important tool Eli used to grow both his first business and his current one, as well as talk about a common entrepreneurial struggle – time management.
Pivotal Moments:
Why would I cold call when I can warm network?
Passing off clients to be serviced by someone else, but still retain a passive income
Finding way to sell more to current clients rather than work to bring in new ones
Embracing myself for who I am, ADHD and all, and thriving not in spite of it, but because of it
Launching #30DS and losing the first 400 customers because the payment link broke- then having it go viral because it was free
The Struggle:
Time management: “I have a hard time doing things that I’m not interested in doing, but really I should just do them and I’m not sure how.”
The Breakthrough:
It’s quite normal not to be motivated to do things we’re just not motivated to do, and sometimes the solution is to just buckle down and get it done. However, in this case, as a successful business owner you have the option to hire and delegate tedious tasks while you use your time for the things that bring in even more money. In the end, everyone wins as the staff engage in work they enjoy and get done quickly and easily, and you, the owner, can dedicate your time to earning enough money to cover that staff time and even extra instead of the time consuming work you were having so much trouble getting done.
Quote:
“Fail early and often but never twice.” -Brandon Brotsky
Resources and Links:
- Find Eli: www.elihochberg.me
- Follow and Connect with Eli: www.linkedin.com/elihochberg
- Read: The Power of Habit, Charles Duhigg
- Read: Driven to Distraction: Edward Hallowell & John Ratey
- Work with Estie: www.strandconsulting.net
- Join us on the Show: www.estierand.com/breakthrough
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