hey everyone this is stefan from project
life mastery com welcome to this live
stream on youtube this is going to be an
ask Stefan live um I'm just got a few
minutes right now actually maybe only
spend about 30 minutes on this I have a
webinar coming up in about an hour so
but I decided you know what might as
well do a live stream right here on
YouTube and answer some of your guys's
questions I want to thank a lot of you
for submitting a lot of the questions to
me over on YouTube and on Twitter a lot
of you guys have commented in the ass
Stefan youtube video that I put up as
well as tweeted me and I use them as
Stefan hashtag so I've seen all your
questions and I thought might as well
take a stab at some of them and answer
some of them right here on the live
string now a lot of the questions are
really really good and I think what I'm
going to do for those ones is I'm also
going to go more in depth with them in
individual videos to publish to my
youtube channel because I think a lot of
people can benefit from some of the
questions that you guys have submitted
so I'm going to go through kind of
rapid-fire here with a number of the
questions and if you guys are live on
this call right now then you guys can
submit your questions there might be a
way to leave a comment or a chat somehow
so if you have any questions that you
want answered live then just ask them on
this session alright so let's jump into
some of the questions Gabriella asks
what camera do you use in your videos I
use a panasonic gh4 I used to use the
Canon t4i but I upgraded I think last
year to the Panasonic gh4 I like it a
lot better however or I actually often
use I'm sure you guys have seen from a
lot of my videos it's just my iphone i
got an iphone 6s plus that i upgraded to
easier and a lot of cases just record
from my iphone especially if i'm on the
road if I'm traveling I find that the
camera quality be really good and also
you guys can see a little bit more about
what I'm up to
cool share that on my iPhone I don't
have to lug around some heavy camera
equipment next question is from Kiki
Kiki done Dunnington and she asked hi
Stefan I'm a twenty twenty year old
female and I'd like to start my first
business which we be making and selling
my own product I no need to start
getting traffic flow but I'm not sure
how to get started but my product out
there and make a profit out of it can
you please give me a step-by-step guide
also can you do a video about having a
business and paying taxes by the way I
love your videos please continue to put
out great content videos for young
entrepreneurs that want to start a
business thank you very much ok um it
depends on what kind of product that you
want to sell but one of the most
important thing is we're selling the
product is you need to make sure that
first and foremost there's a market and
there's a demand there for the product
and you need to do the research
beforehand a lot of people they have
this great product idea that they think
is going to make them a lot of money and
they you know spend all this time and
money to put it out there and then they
later find out that there's no market
demand there for it so doing the right
research is the most important thing and
also understanding the products you want
to sell in a platform that you want to
sell it on so for example if you want to
sell a product on Amazon then amazon is
a search engine where you can basically
see what people are searching for you
able to look at the competing products
see exactly how well they're doing and
that would give you an idea of what's
selling what's profitable amazon has
their best seller list for different
categories as well and that will help
you in your research process to see
where you know what people are looking
for what people are actually buying
which is very important because if you
can take advantage of a hot trend a hot
market then I think that's one of the
best ways to sell a product in that it's
going to really determine how much
success that you had same thing with
Kindle publishing you know if you want
to publish a book you can't just think
that I'm going to publish a book on this
subject and then everyone's going to buy
it you have to know for sure you have to
have certainty of that there's a market
in the demand so you have to do the
research to see exactly what people are
buying what keywords and phrases they're
searching for and then give people what
they want
about you people you know they get so
caught up in their ideas and it's more
about them in the actual market consumer
you really have to make sure that you're
giving people what they want what
they're actually looking for and
actually solves a problem or helps them
achieve some sort of goal that people
have um so that's a very important piece
of it there's amazon there's also google
you can you know find out you know
research on google there's the google
keyword planner that will show you
exactly what search phrases people are
searching for how much volume of search
different topics are getting there's
also Google Trends you can actually see
the trends based on different products
as well so do the right research first
and foremost and then also understand
what kind of platform you want to sell
on I mean the Internet makes it easy
these days because Amazon is the number
one online retailer and they make it
easy for you to launch a product on
their platform there's a variety of
courses and strategies for that whether
its Kindle publishing if you want to
launch a book kindle has their platform
called kdp there's online training
courses for that as well you want to
launch an app there's online training
courses for launching an app on mobile
devices um you know there's there's
retail offline channels as well so I
think you got to get clear on what your
business a strategy is and break it down
step by step and then find the best
resources that can help you in building
this business and selling this product
um the other question had is you know
having a business and taxes taxes is
always going to depend on where you live
the country the state the province and
the different tax laws with that now
typically you know you're young
entrepreneur you don't really have to
worry too much about taxes you know when
you're first starting out it's more so
once you may start making a significant
amount of money you know once you start
making a significant amount of money in
your business then you really want to
make sure that you're optimizing your
taxes and financial situations so that
you're paying the least amount in taxes
that's when a tax accountant becomes
useful as well as lawyers as well you
know I've invested a lot of the last two
years in accounting and reading books on
it just because you know once again you
start making a certain amount of money
it becomes a lot more
for you when you're first starting out
you know a lot of entrepreneurs are
going to start off as a sole proprietor
you don't need to set up a corporation
only cases i really recommend someone
that's starting out to start with a
corporation would be if you already have
a lot of personal assets maybe a lot of
real estate or a lot of investments and
you want to protect those so in that
case setting up a corporation will give
you an extra layer of protection
reliability as opposed to being a sole
proprietor in case anyone Sue's you or
anything so I won't really put it too
much right now and of course clinic okay
next question that I have a cool we've
got 44 people there watching us live you
guys just join you can submit questions
here we're doing an ask Stefan live
campaign right now for the next about 20
minutes or so uh hi Stefan this is from
med medine hi Steph and I just started a
coaching program with a life coach I
have a call with him every two weeks for
30 minutes how do I make the most out of
these coaching sessions thank you um ok
great you found a coach I think there's
there's two different things look at
here there's mentors and there's coaches
I've you a mentor is someone that
already has a result that you want that
basically is in a certain business or
industry that's similar or related to
yours and they're able to provide you to
how to step by step I hire mentors for
example for facebook marketing for
online business you know people hire me
for kindle publishing or amazon FBA or
blogging and stuff because i can give
them the different strategies and show
them the step the path the map to get to
where they want to go a coach is more
someone that doesn't have to be specific
to your industry but it's someone that
can help inspire you motivate you hold
you accountable help you overcome some
of the obstacles and blocks that you
have that are holding you back so I
think it's important to have both in
your life and to understand the purpose
of each of them because you'll be able
to get different things from different
coaches when it comes to life coaches
you know I think first and foremost is
understanding that it's your
responsibility to take action and also
have an open
and listen to what your coach is saying
you're really going to get the most
you're going to get whatever you put
into it right so making sure that you're
going to each session prepared you know
you have a list of questions topics
things you need help with you have a
specific outcome of what you want to get
from each session one thing I do with my
clients is I have them send me a meeting
prep form before every one of our
sessions now before someone even signs
up two signs up with me to go to send me
a questionnaire which basically helps me
learn their goals their challenges a
little bit about their history who their
role models are how they want to be
coached how I'll deal with them if they
fall behind and I try to gather as much
information as I can so the more
information you can provide your coach
beforehand that easier it's going to be
for him to be able to add value to you
um same thing with the meeting prep form
before every session making sure you
prepare I prepare for every session that
I have with every client you know so you
might only have a 30 minute session but
your coaches may be preparing for 30
minutes before that 30-minute session
with you as well so understanding that
and providing information for the coach
another thing is taking notes and you
know as much as you can during your
coaching sessions also making sure you
have a specific set of actions that you
can take after your sessions as well
because that's where the real value is
you know you're going to get over 30
minutes with your coach a lot of
valuable information tools and resources
but it's up to you to take massive
action with whatever it is by the next
time you talk to your coach you can
least share with him what you did do
what challenges you had and at least
you're progressing towards your goals
the main thing is always making progress
progress is the most important thing if
you can make progress you know you don't
necessarily have to achieve your goal
but if you can make progress towards it
then that's going to be the real value
of the sessions that you get so playful
out with your coach take notes take
massive action you know I've coached
people and unfortunately you know
haven't applied themselves or taken
certain actions and it's a shame because
they're not getting the maximum value
that they can get from their coach I
have other clients that are fully
committed they take
some action they listened to it up what
do i what I say you know their their
creative the resourceful they do what it
takes and those are always the people to
get the best results you can't expect a
coach just to solve everything for you
you have to do your part and your part
is the most important thing okay look
behind you asks do i need a business
license if i want to sell online is a
full-time job the answer is no again it
does depend on where you live the tax
laws of where you live as well but in
the United States and in Canada in most
places you can start an online business
just as a sole proprietor and then once
you are you know once you start making
certain amount of money or you know
depending if you want to start off this
way you can set up a corporation or an
LLC but again these are things you want
to maybe do some research on based on
your location where you live in the tax
laws in your country and also talking
with an accountant that can help you
with that also okay uh next question is
from kick Davis I mean wellness for work
I'm basically unemployable because every
job i've had i've gotten fired from even
one that paid six figures so i decided
to employ myself but all the stress of
being an entrepreneur is just as unfit
filling as a working a nine-to-five i
have more freedom but I still feel
unfulfilled what is your solution to
finding work that's fulfilling okay good
question i think one is you have a bit
of a limiting story there of being
unemployable okay and you know getting
fired from jobs and everything i think
there might be some deeper conflicts
inner conflicts that you have there that
might be worth exploring uh you know
with that but holding on to the story
than unemployable that's not really
going to serve you in your life you are
employable you have to identify the
patterns that are holding you back and
once you can overcome those then you
know you're gonna be able to achieve
whatever it is that you want finding
something that's fulfilling now
understand that depending on where you
currently are you know being able to do
something and having as your passion
fulfillment might not be a luck
that you can have under starting out you
know for me you know I didn't start off
being able to do what I'm doing right
now I started off you know doing jobs
that I wasn't fulfilled by but I did it
because as an opportunity for me to make
money you know when I was like 18 years
old I worked at a car dealership you
know I didn't enjoy that that wasn't my
mission or my purpose in life but I did
that because they actually gained you
know help me pay my bills help me some
achieve some other rules that I had but
also taught me some valuable skills that
I'm thankful forward to this day you
know when I was even younger than that
high school and even in elementary
school I always had to work for the
family business I hated doing
construction and doing that stuff but it
taught me hard work discipline and a lot
of very useful skills again it wasn't
the most fulfilling thing but again you
can't always expect everything to
fulfill you in your life now with that
being said I would focus for some
foremost making some money creating some
freedom now for me kindle publishing is
not my mission or my purpose in life but
again I did that because I wanted to
focus on making passive income become
financially free but once I was free I
didn't have to worry about money then I
could focus on my passion to my mission
which was project life mastery blogging
YouTube which is typically something
that doesn't really initially make you
money right but I wouldn't have been
able to spend all this time building
project life mastery you know if I still
had a job and all that sort of stuff
it's the passive income from Kindle that
allowed me to build what I have today
the brand that I have now with that
being said you have to understand that
or six human needs that Tony Robbins
talks about I highly recommend that you
watch some Tony Robbins videos to
understand these needs go to a seminar
surly even understand a lot deeper but
the six human needs are there's a need
for certainty doesn't need for variety
significance connection and love those
first four needs are the needs of the
personality the last two needs are the
means of the Spirit which are what are
going to make you truly fulfilled and
that's growth and contribution okay
growth and contribution meaning you have
to find a career that fulfills those two
Korra needs you have to feel like you're
growing if you're not growing then
you're dying so you have to make sure
that whatever it is that you're doing
your expert
in growth or becoming better becoming
that you know it's helping you fulfill
your potential of who you want to be you
also have to need to have a sense of
contribution contribution is what's
going to make you feel the most alive
and you can be contributing but not
fully associated and feeling the impact
of your contribution so making sure that
you are helping other people you're
solving their problems and you're
associating to that fully is what's
gonna really make you feel the most
alive but also you know you can find
fulfillment in anything it's all your
mindset a really good book that I also
recommend is called man's search for
meaning by viktor frankl because here's
a man who is a psychiatrist psychiatrist
who is anna Nazi concentration camp
during World War Two and they're
suffering all around him and he
researched and studied what makes people
thrive in that environment and he found
a way that you can have meaning and
purpose in anything even in environments
of suffering so that's an inspir
inspirational book that I also recommend
alright see you next question uh this is
from Hanson he says hi Steph and I just
want to acknowledge you for your passion
and hustle for your work also thank you
for being an inspiration for me and my
life my question is what are different
ways I can improve the quality of my
book I all sorts the writing in my book
do I outsource it again for someone else
to continue improving it thanks Stefan
okay great question it's always kind of
funny for me when people misspell my
name when my name is like right there on
the video you know like ask Stefan
hashtag and people use ask Stefan with
it ok anyways a book I think you're
referring to Kindle publishing you
published a book might have gone through
my K money mastery program as a variety
of ways ok number one is you can approve
the book yourself and basically
improving the book basically is looking
at the book and ask yourself how can I
make this better how can I add more
value to the consumer so it could be
improving the content information of the
book it could even be improving the
formatting the spelling the grammar of
the book so that the content information
is more easily consumable
for the consumer it's may be more
engaging for the consumer I could also
mean adding more information content for
the book so for example covering certain
topics that your consumer wants one
thing that you can do that i always
recommend is that with your books is to
look at the other books in the market if
you look on amazon or on kindle the
other competing books and that will give
you a lot of information of what people
want you know you can even buy or you
can just preview the table of contents
of the other books out there and see
what subjects that they're covering
within their books and then you can
include some of those different topics
in your book as well you can read your
competitors amazon reviews you can look
to see the worst negative reviews that
they have and see what their complaints
are see what their feedback is and maybe
what is missing in their books and
that's all information that you can
include in your book so that you can
again add more value to the consumer so
those are some of the ways you can
improve the book but in terms of how you
actually do it you can either do it
yourself you could hire someone to do it
for you so you can for example find a
freelance ghost writer or you can find a
you know a writing company which some
sometimes can be useful as well that I
like to use writing companies because
they already have the team in place
already have the editors proofreaders
they already have that you don't have to
micromanage the freelance writer as much
um you know or you can just find who
originally wrote the book and if they
did a good job and you just want them to
add more content to it then just go back
to the original raider and actually ask
them and pay them to add more content to
the book so there's a lot of different
ways of doing it but you don't have to
make it more complicated than it is okay
here's a question from Nick hi Stefan
great to have an opportunity to ask you
could you tell me when have you chosen
your path and why and how you decided to
take this one I mean the path of your
life that you have right now all the
best okay great question um you know I
came from a lot of suffering when I was
younger I you know didn't have the best
family life I was depressed I was shy
introverted it wasn't really aware of
the challenges and whatnot that I had
but I was very isolated in my life and
just very unhappy and when I was 17
years old I discovered self development
specifically tony robbins and
Robbins really inspired me really
uplifted me really showed me what was
possible in life if you have change your
beliefs or mindset and really made me
believe that you can change anybody can
change anyone can improve themselves and
so I got on this path of self
development and i also got into
improving my confidence my social skills
because that was the area of my life
that i was the most focused on it at
that time because when her 17 years old
really your only goals from her 17
really are to have friends and be
popular and to have a girlfriend so that
was my goal when I was that age and I
really want to improve my confidence and
so I remember reading different ebooks
and getting into dating and you know
reading self-development books and then
investing in different seminars and
programs and within a few years I made
such a big transformation in my life my
confidence my certainty my beliefs my
happiness that I just became more and
more passionate about self development
and over the years I just became a kind
of person that was you know just had
accumulated some information and
experience and his coaching friends and
sharing with other people that you know
I when it came to really deciding what I
want to do for career I just really
asked myself what's my passion what do I
love and for me I love meeting people I
love helping people i love improving
myself and it just so happened that the
internet um you know obviously was
becoming bigger and bigger but but
provided these opportunities for anyone
to be able to share themselves online
and you know i started just you know
sharing information in different books
and publishing online and then blogging
and then youtube and podcasting and
creating different products and
information and the internet has just
made it very easy for anyone to be able
to share themselves and that's a really
an amazing opportunity and also be able
to make money from it as well if you
learn a little bit about business
marketing and and you know some of the
strategies there also so you know for me
it just it comes down to just really
knowing myself knowing my passion my
purpose i found for most people their
passions in life and their purpose
usually reflects their past and maybe
challenges that they had and again
coming back to the growth and the
contribution any time you can share with
people and give the
that's always what's going to light you
see I have right now welcome everyone if
there's any questions you guys can post
it right here as a comment or if you
guys want to submit questions that
unable to answer on this call then just
leave it as a comment but also you can
tweet me using hashtag ask Stefan and
I'll do the best that I can to answer
them for you guys as well in some other
videos all these questions are great I'm
excited for some of them I'm gonna maybe
do some separate videos for them and
answer them for you guys because I think
I can go a little bit more in depth with
some of them but I only have a few
minutes left so maybe take a few more
questions ok the amazing Odyssey has a
question TIFF Tito I'm looking into the
most recommended things to do to see
success in an online business I'm
struggling with what works and what
seems like it's working now but might
not be as beneficial if I just focus on
a specific area sometimes I feel like
I'm doing too much of everything else
and not enough of what matters I have a
website in a YouTube channel I'm trying
to plan products around that now and
save so i can invest but what else can I
focus on until then that will carry
through into giving me long-term results
I want a decent income stream to travel
and work wherever I am as well as give
back in a number of ways against the
real question would be what is the
twenty percent that gives you eighty
percent the results in as much detail as
you can please okay well I could you
know create a whole video just on this
subject alone but i think it's
recognizing you know what is your real
outcome is your outcome to make money
your outcome to do something you love
you know I because if it's to make money
you know there's probably ten easier
ways making money online that YouTube
and blogging is a lot of people they
want to do blogging in YouTube but you
have to recognize that blogging and
YouTube is a long term process before
you can make money from it and
truthfully not everyone can make money
on youtube or a blog you know not
everyone maybe has a personality that
other people going to resonate with
because it takes a certain person
personality you know all that sort of
stuff that people want to watch you or
listen to you or maybe you're an expert
provide expertise on a certain subject
so I don't think necessarily everyone
can be successful with those things
maybe some people more than others but
again recognizing what is your goal you
know you mentioned you want to travel
and you want to be able to make a decent
income stream well I can provide for you
some easier ways of making money that
are a lot faster than YouTube and
blogging is for example kindle
publishing in my opinion out of
everything that I've done I found it to
be the easiest and fastest way for a
newbie to get started and start making
money you know youtube and blogging
takes months before you can expect to
make any money and even for me it took
months and I already had several years
of online marketing background and
experience um you know kindle publishing
you can be a brand new beginner and
literally start making money within your
first month okay and I'm blown away by
that still because I hey member for me
that you know some of the other things I
was doing to make money before or take
me months before I did expect to make
any money from it so you know if that's
your outcome I'd always recommend i
still recommend people start with Kindle
publishing you know you don't have to be
a writer you can hire people to write
books for you you don't need a lot of
money to get started into it you cannot
find ghostwriters inexpensively you can
start off with short books you don't
have to have these long massive books
you have to understand the publishing
world has changed massively over the
last few years where Amazon and Kindles
made it that anyone can write a book
anyone can publish your book anyone can
share their message online and be able
to sell it on Amazon if they choose do
they made that option available to
anyone anywhere in the world and their
platform just makes it very easy and
simple for you so I coach people and I
recommended people start with Kindle
start making some money you can work on
your blog and YouTube as well do that as
a side hobby or passion work on that on
the side build it up that's what i did i
did kindle you know as my primary income
stream and then I did project life
mastery just on the side um you know and
no do both simultaneously so that's what
I would recommend and of course if you
want to know more about kindle
publishing I've got a great course
called K money mastery go to key money
mastery
home head on over there's helped you
know so many people make money we've got
people making six-figure incomes from it
people that are just brand new to online
marketing and I think Kindle opens the
doors to a lot of other ways making
money online so for example in my
program I also teach you affiliate
marketing a lot of general online
marketing concepts that will help you as
a strong foundation and anything else
that you get into you know because a lot
of the principles and the strategies are
the same of Kindle amongst other
platforms as well so the education that
you're getting from the program when I'm
teaching there can be applied to almost
any business
uh just to answer another question that
you had was once a 20-percent it gives
eighty percent of results does depend on
the business that you're in but in my
business in youtube the twenty percent
because eighty percent of results is
just content high quality content as
much as possible that's basically the
most important thing you need to be
doing because the more content you have
the more people are going to track to
you with publishing as well you know any
anything online you know producing high
quality content is what's going to
generate more sales more traffic to you
even you know different products and
courses are made up of high quality
content so providing that for people is
what's going to be the most important
thing that you need to focus on okay
I'll answer a one more question here
real quick this is from riptide missed
um okay quick question I'm a junior in
high school and I struggled to study I'm
just not motivated I want to become an
entrepreneur when I grew up you have any
tips or ways to motivate myself thanks
and keep up the good work good question
you know when I was in high school I was
not motivated to study at all in fact I
used to think that I was uh I was stupid
I didn't think that I was I thought that
I was lazy I didn't have any discipline
um and what happened was you know when I
got out of high school and I discovered
self-development all of a sudden this
this motivation ignited within myself
where I just got super motivated because
all of a sudden I actually cared and saw
the value and what I was learning I had
had goals and things that became
important for me and I think you know
right when our school you don't have any
empowering reasons or goals to really
motivate you to study and to actually do
good at school and I think you need to
identify what your outcome is and why
you want it because that's the most
important part of any goal you know you
can try to give someone to force someone
to study or learn a certain subject but
if they don't see the value in it don't
have an outcome this important and they
don't have a strong enough reasons why
then obviously they're not going to
study and do well of that
I think you know you want to be an
entrepreneur you want to motivate
yourself i think it starts having goals
for yourself attainable goals and seeing
the value of that and also ask yourself
why do i want this why do I want to be
an entrepreneur also if you can find a
value and reasons in school now in high
school and that can also help prepare
you so for example look at school right
now as an opportunity to improve your
discipline to improve your motivation to
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