Getting to your First Million Without Sacrificing Time With Kids w/ Zach Lee
Capitalism.com with Ryan Daniel Moran
Capitalism.com
4.8 • 793 Ratings
🗓️ 14 May 2018
⏱️ 42 minutes
🧾️ Download transcript
Summary
Ryan was stoked to talk to Zach Lee, his first student who ever came to one of his paid-for workshops. A father of young children, Zach’s found a way to be there for his family while also reaching 7-figure success. Here’s how he does it:
Find A Good Idea, Then Hone In On It
Zach likes to build businesses from scratch, scale them to 7-figures, and then start another one. He’s managed to build several brands with dozens of products that way.
With the limited time he has available, Zach figures out a good product idea for the marketplace, sets a team to implement it for him, and then oversees the process. By focusing on one idea at a time, he’s effective and efficient when at work.
Put A Premium On Your Business Time
If you don’t pay attention to what you’re doing when you get to work, you’re going to be wasting your time. Zach’s become really good at delegating tasks to his team and contractors, and dedicating his own time to take direct action with his businesses. He doesn’t lose a minute.
Put A Premium On Your Family Time
As a parent of young children, once you step away from your desk, you step right into your “second job”: being there for your family. You need to devote attention to your rugrats, especially during their high-demand early years.
And you shouldn’t want it any other way. As Zach knows, now is the time when they’ll want to hang out with you the most. These years are short and you need to spend the time on them they deserve. Doing so will make you a better parent and a better entrepreneur (since you won’t be clouded with guilt about not being there for the little ones when you go back to the office).
It was awesome hearing from Zach!
Key takeaways:
- Find a good idea, then hone in on it
- Put a premium on your business time, and
- Put a premium on your family time
Connect with Ryan
Find more amazing podcast discussions on FreedomFastLane.com.
Transcript
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| 0:00.0 | The whole business is very much like a huge snowball. |
| 0:04.9 | And if it slows down or if it stops completely, if you can string together, just little |
| 0:10.6 | wins again, you feel better, you make better decisions, you get that confidence back, and |
| 0:17.3 | things start moving again in the right direction. |
| 0:28.2 | You're listening to Freedom Fastlane presented by Capitalism.com. |
| 0:35.2 | This is the show about building businesses and investing the profits so that you can live life on your terms. |
| 0:41.0 | And now your host, the future owner of the Cleveland Indians, Ryan Daniel Moran. |
| 0:49.9 | What's up, Fastlaners? |
| 0:51.4 | Ryan Daniel Moran here. |
| 0:56.5 | I'm stoked to be with you today because I'm going to be bringing on one of my backroom members and oldest students. His name is Zach Lee. And Zach is, well, I wanted him on because I |
| 1:04.7 | think he most represents the idea of who most of us as entrepreneurs kind of want to be like. |
| 1:12.6 | Zach would probably blush at that question, but Zach is a father of three. Zach is a married family man. Zach has an idea a minute, |
| 1:22.3 | and Zach has had success and some failures, but success at a lot of different businesses. He's the type that |
| 1:29.7 | gets an idea and pursues it and knows how to take it to about the million dollar mark. And now |
| 1:35.2 | he's going through his first acquisition. He's selling one of his businesses for a nice payday |
| 1:40.7 | that will set him up for success. Zach has several different businesses that have done |
| 1:46.6 | well and he has just gotten to the point where he is starting to shed some of those ideas and go |
| 1:52.0 | all in on one. And so many of us entrepreneurs start out that way, where we pursue a few opportunities, |
| 1:59.4 | we have a couple base hits, and then it becomes |
| 2:02.3 | a challenge of we've got so many wheels spinning, we've got so many ideas, how do we choose |
| 2:08.1 | the one that's going to give us the greatest upside? Well, Zach is in the unique spot where he's |
| 2:12.8 | had several winners, and yet he is just now starting to zero in on the thing that's going to be |
... |
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