Entrepreneurship and Thinking Big with Mike Dillard – SPI TV, Ep. 42 #Best Education Page #Online Earning

hey what's up everybody path line here

another episode of SPI TV for you and

I'm here with Mike Dillard from Mike

Dillard comm a number of friends of mine

had gotten me to learn about you and I'm

really excited about this because I

actually don't know very much about you

but I was told that I would be an idiot

not to talk to you because you have a

lot of great information right here and

I was on your website and I love that

like when you describe yourself like I

do you describe yourself first as a

father mmm which I think is really

important then you just told me that

you're gonna go camping later and be

with your boy and stuff and that that

means a lot to me as that's how I know

that your values are in the right place

when that's like the first thing I

noticed about what you have on your

website but can you tell everybody and

kind of introduce yourself what it what

is it that you do sure nice to meet

everybody and I've followed your stuff

for a while and in fact your series of

podcasts training videos that you have

for free on YouTube are what I dive in

to start my podcast six months ago and

now it's a number one personal

development it's up in the top 10 and

self-help books and all those guys on a

regular basis so yeah so thank you for

sharing that's awesome but no I started

I guess my first business about 10 years

ago and you know
really discovered

attraction marketing and direct response

marketing from the old guys like Dan

Kennedy and Yannick silver and Harry

Marshall and all of that in ended up

building a business in the network

marketing industry using internet

marketing strategies and that was really

how I got my start that turned into a

multiple eight figure business over the

course of about four years and then I

handed that off to my business partner

and then dove into finance and investing

because you know we talked so much about

how to make money in the entrepreneurial

world but no one ever talks about what

to do with the money that you make and

I've made a lot of mistakes with mine I

wanted to master you know investing in

finance and so I started a business in

that world and it did quite well we did

three million in revenue in our first

seven days we did eight figures in our

first 12 months we had over 50,000

customers and our first 36 months around

the world and handed that off to my

business partner there about a year ago

so those who have been my two primary

companies and now I'm diving into a

lately new world which is the organic

produce industry and my goal is to put

clean healthy food back on you know

families tables at night at prices that

they can afford because it's become such

an unfortunately a luxury it's become a

luxury if you can't afford to shop at

Whole Foods every week you're eating

spinach that on average has 54 different

pesticide residues on it and so my goal

is to solve that problem

hello that and how are you tackling that

problem

you know there's it's interesting Peter

de mons is a friend of mine bold Anna

yeah bold and abundance and XPrize and

all of that stuff and you know we look

at all of the industries out there like

uber and Airbnb and 99 designs that have

decentralized these massive industries

and about two years ago when I started

thinking about this I was like why

hasn't anyone decentralized the AG

industry and you know it's arguably the

biggest industry in the world that will

never go away and yet that probably had

the least amount of innovation so I

started studying the hydroponics world

aquaponics world on a pretty intense

basis and I saw some potential for

solutions out there but that industry is

really interesting it's run by extremely

smart people who are who are scientists

and extremely passionate about

agriculture but none of them have any

real business acumen and they don't know

how to serve a customer base and so I

saw an opportunity there to really

develop a new technology platform that

you'll put in your house just like an

appliance and it'll grow all of the

organic produce that you would want on a

monthly basis so per year it'll grow

about $5,000 worth of organic food 160

different varieties for less than 500

bucks so you get a 90 percent reduction

in your food costs you get a hundred

percent reduction and your pesticides

and chemicals you completely remove the

entire supply chain of Agriculture from

the farm to the trucking to the

middlemen to the retail and and it

starts and ends in your kitchen and so

we've been working on that for about a

year and Peter Dumont is actually

business partner in that business and

will hopefully bring it out here in 2016

so cool and how are you even see that or

be able to have an opportunity to

participate it's a bit usually

top secret at the moment though I still

haven't mentioned the name but if you

get on my newsletter mike gillich comm

will obviously keep everybody up to date

on that

but um yeah it's uh it's interesting I'm

all-in on this one all of my finances in

cash and everything of kind of all the

chips are on the table so well this is

huge this is like world impacting and

before not just the cost savings from

people that that people I have but it's

also the health and fitness which will

have this butterfly effect across

everything so yeah that's really cool

let me know and that happens I port it

thank you appreciate it now going back

to some of your first businesses I heard

that you got started around 2008 around

that time which is when I got started to

what what were your first steps when you

kind of got into the entrepreneurial

world what was life like that was

interesting I I wrote I was in the

network marketing industry and I

absolutely hated it and I didn't realize

why for about five years when I finally

figured out the fact that I'm an

introvert and a hugely extrovert

industry that is dependent upon holding

parties and networking shaking hands and

and all of that stuff and so I wondered

why I struggled for so many years and I

I realized I could build that business

by using direct response and so I

started to use that the strategies I've

learned Google AdWords and started to

build the business for the first time

and I ended up putting those strategies

in a book that I called magnetic

sponsoring that was you know 2005 2006

when corey rudl was still around and the

very first ebook platforms were burnt

out and i just wrote that in microsoft

word it was about 55 pages long and

started selling it online on a sales

letter that I wrote and coded myself you

know way back in the day for 39 bucks

and within a month or two I was selling

30 to 50 copies a day and so that's 50

60 grand a month in revenue and I was

like oh my gosh this is crazy

fortunately the book was good and I got

a ton of great feedback and kind of

spread on its own from that regard and

then that turned into really an

information publishing business so got

an office produced six or seven more

products I think the most we ever did

was about six or seven million in annual

revenue and I did that for about four

years and then the challenge wore off I

really said everything that I I felt

like I had to say it

given the value that I had to get

then at that point it kind of the

business kind of I lost interest in it

and it wasn't in it for the business I

was in it to share the value that I had

and as soon as that was tank was empty

it was like okay time to move on to a

new challenge so that's really cool so

it sounds like you you build something

that's awesome and then you kind of hand

that off and then you move on to the

next yeah you know I think once I've

created the solution that I'm after like

it feels like the job is done at that

point and and that you know for me

that's been about every four or five

years I'm you're going to a new

adventure now do you go into those new

ventures wanting to exit or planning to

exit or does it kind of just happen no

kind of it kind of happens you know so

I've done it twice if I've identified

the cycle but um you know I think if

you're if you're not growing then you're

moving backwards and for me that's not a

very fun place to be yeah and I just you

know when you're putting your heart into

something which you would know if

essentially an author or media Arthur

you're putting your heart and your soul

into what you're producing and the

minute you don't feel that it's just

like you're doing it because you have to

it's the job at that point you know so I

think it at that moment it's time to

move on to something new hey let's talk

let's talk about that a little bit

because I know a lot of people

entrepreneurs I've gone through that

myself where I do feel like I'm just

kind of going through the motions and

it's just what I'm supposed to do and I

lose that fire sometimes but you know I

also know in the back of my head that it

is what I'm supposed to do so how do you

balance like knowing that that's what

you should continue doing even though

it's hard and you're kind of fighting

that resistance in your head i well what

recommendations would you have for

somebody who's dealing with that well

you know for me my my goal is to use the

lessons learned in the skills gains from

the previous company to think bigger and

dream bigger and to push myself and

that's really the new the intentionality

that I've had over onto each of my moves

and the first one in the network

marketing industry it's a fairly small

niche and I didn't realize that until I

was at the top of it and the business

topped out at six million in revenue I

never seen anyone do more than that and

so they all right this is you know the

king of Everest at this point and it's

it's a pretty small world even though

you were the big

so that was really the inspiration to

part of the inspiration move on to

finance roots infinitely bigger world

and that's why the business did so much

more revenue in the first year than the

other one had done in six so you know so

that was a big way for me to personally

stretch and then now I'm again trying to

keep that attitude where it's like what

is something that I can do that will

have an impact on potentially every

person on the planet and you know for me

the goal is a lot of legacy at this

point I'm 38 years old you know it's got

my son

and I want to wake up every single day

thinking and knowing that there are

families around the world who are using

my product and becoming healthier for it

yeah and so you're gonna fight to do

that and die in two years um you know

life well-lived so the vision is really

important you know this is something I

learned with Hal Elrod it's kind of part

of your morning routine in that book the

miracle morning to you know think about

the future and how people might use the

products that you're using you're

creating and benefiting from what you

have to offer so that's great to hear

that you're even up to going back to

Finance I'm interested because I

actually spoke with Ryan Moran on my

podcast a while back about strategies

for investing and that's something I

don't talk about very much so whenever I

have an opportunity to do that I think a

lot of people are interested so sure on

a higher level like what are some

strategies that people can use to really

make their money work for them in ways

other than you know just starting a

business well you know it's interesting

the the most valuable lessons I learned

through that you know that last three or

four year window is that the most

important thing you have to figure out

first is how you emotionally react with

money and what I learned is that I you

know as a successful entrepreneur you

get confidence in your ability to

generate cash flow which can get you out

of all kinds of problems or create all

kinds of opportunities and but it does

not create a lot of stability and so if

you're unfamiliar with Colby yeah what

do you mind what's your what is your

score if you have you remember it's been

so long that's right it's right so so

most entrepreneurs have a really high

QuickStart score I'm an eight out of ten

most on

or eights nines or tens carry em around

that area yeah you know we're okay or

we're super fine with risk and we're

super comfortable making fast decisions

and so that works great in the business

realm it is completely antithetical to

the finance realm and it gets you in a

lot of trouble so you know so for me

once I figured out why I was making the

decisions I was making from a financial

perspective than I could successfully

create systems and solutions to

circumvent that and to basically protect

myself from my personality type and so

the most important things that I ever

did given given those traits is that I

systematized my savings and wealth

building essentially and I put them in

really safe secure vehicles a lot of

precious metals in the very beginning to

create a foundation and then a strategy

called the infinite banking that uses a

very specific strategy around whole life

insurance you're not using it for

insurance you're using the legality of

the insurance model to get some

advantages through that particular

vehicle that are advantageous to you so

what is that call again just huh yeah

it's typically referred to as infinite

banking or cash flow Bank okay and Tony

Robbins actually talks about this in his

book as well that he came out recently

on the finance so but what that does is

it can serve as a very systematic safe

environment for you to automatically put

money into on a monthly basis and so

it's not dependent upon me to transfer

money into that account because as

entrepreneurs we don't have anyone

taking money out of our paycheck and

investing it you know into a fund so

it'll it'll do that for you and the goal

is to become a little bit richer every

single month and it also keeps it at

arm's length and so it's not tied to a

checking account where I can just

transfer money in my Wells Fargo account

if I need the money I have to go through

a transfer process and there's some some

you know headaches involved that make it

inconvenient to pull the money out so

those that key in particular was huge

you know I set up a goal to have a

certain amount of money available by the

day the time that I turned 60 and so

that goal was to be able to pull out a

hundred thousand dollars a month

starting at the age of sixty all the way

to one

so forty years at a hundred grand a

month looks like that would provide a

pretty epic lifestyle yeah and so we

started with that goal and said okay

well how much would we need to start

funding that account on a monthly basis

now and we started doing that and the

neat part about that particular strategy

is that it's completely separate from

the stock market so if the stock market

tanks like it did in a way I don't lose

a dime and that from an entrepreneurial

perspective and a savings perspective is

super important obviously so once you

have that established well then you can

start moving into a bit more you know

risky you know asset classes I've done a

lot of investing in cash flow real

estate Department complexes here in

Texas and I don't know the first thing

about real estate at all zero but if you

go out and you find the right team to

invest with which I did if you're in

Austin second generation family

unbelievably ethical amazing

conservative you know experts in that

realm write them a check and on average

I think I've done two or three complexes

with them twenty to thirty percent

return a year and and that's you know

that's been the extent of it so that's

awesome I love it if somebody wanted to

get started maybe they're starting to

make a little bit of money in their

business how can they start small from

an investing perspective you know I I

like the the infinite banking strategy

the best because again there's zero risk

to it you don't have to wake up every

day and worry about if the great stock

markets in the green or the red and a

Nagina automates that process so for me

if you know when I decided to fund this

hydroponics company which is well over a

million dollars in funding so far I had

that nest egg built up and then I could

pull that money out and really use that

to seed it was the seed capital for this

business yeah yeah that's awesome now I

was on your website and I saw that

you're into racing like the Baja 1000

all that stuff and with all these other

big great things that you're doing like

how do you balance your lifestyle a

little bit like what's a what's a daily

like for Mike Dillard you know it's

interesting over the last year since I

left the finance business and have

basically been reinventing everything

it's you know it's amazing how ten years

in this industry feels like forever

and so for me it's really been taking

some time off but you know now with

launching a hydroponics business ideally

in the middle of next year it's gonna be

the biggest challenge I've ever taken on

in my life so right now I'm actually

focused on becoming a corporate athlete

if you will and I don't know I don't

like the word corporate mantra no

haffley whatever maybe yeah I like that

that's lame well changing changing doing

what I need to do from a health

perspective so that I have the energy

and the stamina to accomplish my goals

enough business and you know that's

gonna be 15 18 hour days for at least a

year yeah and I know that and so what

can I do now to get myself mentally and

physically prepared to handle that

stress whether it's meditation or

working out diet changes because you

know that is potentially the biggest you

know will be the biggest win of my

career and if I do it right yeah it's

not a matter of having to work from that

point forward after that it's working

because you want to work yeah and the

doors that'll open will be huge so I

love that you mentioned health and

fitness and stuff and kind of preparing

yourself for what's coming I think it's

really important we always hear people

like Tim Ferriss Tony Robbins even Gary

Vaynerchuk has gone in the healthcare

craziness expressed just how much that

has made him able to do what he needs to

do especially with how gary is yeah so

what are some specific things you're

doing in terms of health fitness and I'm

trying to figure it out brother like

it's I have friends who are diehard

paleo people and CrossFit people and I'm

trying to figure out what my body

you know responds to and the interesting

part that I've learned is from an

entrepreneurial perspective we're

dealing with stress on a daily basis

especially if you have a team you know

we had 12 employees in an office at EVG

and when you do the math and they each

have their husbands wives or kids you're

literally responsible for feeding 30 to

40 mouths every single day yeah and you

know our overhead was 250 grand a month

so we to make roughly a quarter million

bucks every 30 days before I got paid

it's a lot of stress and so you know the

counterpart to that is how do people

typically deal with stress well food and

other things that bring comfort right

exactly

okay so in my eye

we're in Austin I mean yeah every meal

so far thanks to margarita margaritas in

queso and yeah that's good though I

think you know not but not good for the

health side so so making a very

conscious decision that if you're going

to run into a challenge you can either

deal with it in a way that negatively

affects your health and your life or

positively and you've just got to make a

very conscious decision to make that

choice so I'm a huge fan of on it and

Aubrey Marcus he's got blood on his

partner mine as well and you know

luckily they're here in Austin so I've

been going to their their boot camp

every week which is brutal they have an

actual facility range and I just like a

company that sells goods online well

it's cool very cool in their

headquarters they've got a gym and a

coffee shop and a retail store and and

all of that good stuff so how close is

it to here five to four or five miles

yeah it's right down the street on 131 I

know it's super cool but Luis Lou's

house intense and Rosie's he works with

them and yeah it's great that's great

stuff yeah so yeah so just trying to

figure out what I get excited about I

think I'm gonna start like my first yoga

class next week so we'll see how that

goes so yeah well good luck with that

yeah so final thing I want to talk about

Mike and thank you again for your time

today again when I was on your website I

was looking and you do a lot of

philanthropic stuff which I love I'm

starting to do a lot of that too and you

have worked with make-a-wish and and so

just talk a little bit about what

entrepreneurs can do is even at the

small level to help others beyond

themselves sure you know that's

something we started in EVG with

make-a-wish we made it a goal to sponsor

a child's wish here in Austin every

single month for a year so we did that

and my thing with cherry the thing that

inspires me is actually getting to see

the funding put to use you know

donating to Red Cross or the you know

the breast cancer or whatever where the

money just goes into this black vacuum

and you never see the impact is not very

inspiring to me so make-a-wish you

actually you know get to meet the

families and get to meet the kid and

there's this hugely impactful experience

and the other one the other the other

program that I'm a huge backer of over

the last year's been charity water and

sky here

there yeah so again there you know

exactly where the money is gonna go and

so that's been really really rewarding

from a personal level but also from a

business perspective I have met more

high-level people at those events than

any other event that I've ever been to

like when you go to a charity water

event you're meeting Gary Vee you're

gearing you're meeting Chris soccer

you're meeting the who's who of Silicon

Valley and and it's just really

inspiring to put yourself around that

group of people especially you learn

about you but I just consider myself

some some do you might notice a man like

Sophia around those people is not a

circle you're like I must be doing

something right and you know and it's

provides you with that kind of

inspiration to think bigger

yeah no you're absolutely right I mean

amazing people give and and if you put

yourself in those situations I was at

the pencils of promise Gallatin and Gary

Vee was there and Usher and John Legend

and a whole mess of other incredible

philanthropist right who and my wife is

interested in philanthropy and so this

is a great way to kind of help out even

more and it's not just you don't do it

for that reason it's just an amazing

byproduct of giving and you know putting

your hotner it brings it brings a whole

new a whole new level of awareness to

you to you and your business and your

dreams and what you can accomplish in

and I just find a really inspiring so I

love that I think it's a great way to

end so again guys check out Mike Dillard

Mike Dillard comm sign up to his email

as you have a like 420 K around there

that's yeah anything ten years you know

so thankfully a lot of them still read

my stuff and stick around but yeah it's

been it's been really cool yeah we look

forward to the big projects coming from

you Mike so again thank you cool how

many PI appreciate it thank you guys

thanks man thank you

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