Light that spark fire nation, JLD here and welcome to Entrepreneurs on Fire brought to you by the HubSpot podcast network with great shows like my first million.

Today we're pulling a timeless EO Fire classic episodes from the archive and we'll be breaking down how to build a seven figure side hustle without quitting your full time day job.

To drop these value bombs, I bought Sean Patel and the EO Fire Studios. Sean is the founder of PrepExpert SAT and ACT preparation and Clear Hat Digital Marketing and winner of a Shark Tank deal with billionaire Mark Cuban.

In today's Fire Nation we'll talk about never trading time for money, how self control is the number one predictor of success and how to avoid going into an industry that you know nothing about.

And so much more when we get back from thinking our sponsors, if you don't have light insurance, then you need ethos go to ethos life.com slash fire to get your free life insurance quote today ethos technologies incorporated operates in California as ethos life insurance services not available in all states and prices subject to underwriting and certain health questions.

Discover the secrets and strategies to turn your content into profit with host Luis and Fonzie cameo as they discuss topics like the how to be nice principle that's costing you a fortune listen to content is profit wherever you get your podcast.

Sean say what's up to fire nation and share something interesting about yourself that most people don't know.

Hey fire nation how's it going my name is Sean Patel and something interesting about myself that most people don't know is I actually grew up in a motel so I grew up with my parents owning a budget motel in Las Vegas and so we sort of lived in this living space that was two bedrooms can actually lived in a motel room actually connected to this small motel just 23 rooms that my parents own.

And it was an interesting upbringing because I didn't live in the suburbs or in an apartment.

You know I was helping with the front desk and it's probably how I got into entrepreneurship and exposed to it from a young age because my parents were operating it and that's kind of where I grew up.

Man you must have really seen like Vegas in the strip just grow over those years.

Yeah it's so crazy how different Las Vegas is these days because I grew up a little bit off the strip in this budget motel in downtown Las Vegas and you know now there's just so much right like that used to be the worst part of town.

No one wanted to go there totally you know just run down and you know what happened was Zappos came in and it's totally renovated the area and with you know their entrepreneurship and they're sort of like startup culture.

There's so many new startups in downtown Las Vegas it's a cool place to go it's got great restaurants and bars so it's so crazy seeing that you know having grown up there when no one wanted to go to that area.

Fire Nation sometimes time is a cure for everything and as I alluded to in the introduction we're going to be talking today about how to build a seven figure side hustle without quitting your full time day job so let's start off Sean by talking to our listeners fire nation about doing what they know what do you mean by that.

Tons of entrepreneurs often want or people who want to become entrepreneurs I should say they wonder you know what kind of business should they start or what kind of side business could they start without quitting their day job and you know billionaire Warren Buffett has said that he's a successful investor because he stays within the realms of what he knows and this couldn't be true or when it comes to entrepreneurship you know the first rule is do what you know.

One of the biggest mistakes I see entrepreneurs make is attempting to go into an industry that they're not familiar with if you have no knowledge of an industry and you're just going in it because everyone else is sort of doing artificial intelligence or whatever it may be you and you don't nothing about it I mean you're shooting yourself in the foot before you even start the race.

You know but if you have deep knowledge of a particular topic you immediately have competitive advantage so you know I think that people should do what they know when it comes to starting a side business do what you know fire nation I was in the Gary v.

He's like all the time and he says you know what a lot of people say Gary you always repeat yourself he's like because I only know like three or four things but I believe in them so much and I know them so well that that's where I focus that's where I just make sure all of my time energy effort bandwidth is spent in

the fire nation that's such a good lesson for all those reasons now a lot of people try to stay away this day and age Sean from like a service based company because they think it's just trading time for dollars and all that jazz.

Let's talk about that a little bit because you have a different perspective why do you think people should start a service based company.

Absolutely you know because when you're deciding between trying to create a product or trying to create a service you know I think that most people think of entrepreneurs and you know me being on Shark Tank people are kind of surprised to hear that I was on Shark Tank because I didn't invent a product I invented a service so you know I think

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