Learn the Secrets of Entrepreneurship with Finn's Journey, an aspiring entrepreneur, as he goes on his journey to source his first product. Learn how to make your mark in the world with Finn's journey and gain valuable insight to help you on your own entrepreneurial journey.

After months of hard work and dedication, Finn has finally launched his first product to the world.

Why did you decide to build your first product?

At michaelcrane.live, we’re all about helping entrepreneurs reach their dreams, so when we heard about Finn’s journey, we had to share it. Finn is an inspiring entrepreneur who has built a product from the ground up, and it all started when he discovered a gap in the market at the Muay Thai training gym he attended.

How did you find your supplier in the UK?

His goal was to identify the best suppliers and figure out who could provide the highest quality products and services.

After a few phone calls and emails, he had gathered a shortlist of four potential suppliers. he understands the importance of selecting a reliable and trustworthy supplier, especially when language barriers exist.

What type of person will be buying my product?

Understanding your market is key to success, we understand this, and that's why we decided to start our journey with a product that was sure to please our target customer.

At the gym where we train, we noticed a lack of branded quality Muay Thai shorts. Everyone was wearing the same basic style, and there wasn't a brand associated with the gym. We knew we could do better.

So, we decided to make our first product: branded Muay Thai shorts. We focused on what our ideal customer wanted. We wanted to create something that was stylish, comfortable, and durable. We wanted to create something that was perfect for Muay Thai training and for in the ring at amateur bouts.

What’s the plan for 2023?

I understand that becoming successful takes a lot of hard work and dedication.

The first step to reaching success is to stay focused and dedicated to your studies. You should always prioritize your education and learning. Whether you’re in school or not, make sure to take the initiative and invest in yourself.

The second step to success is to read various books on business. From business guides to autobiographies, there’s something for everyone. Reading about successful entrepreneurs will give you the insight and motivation to reach your own goals.

Finally, you should learn to invest in the stock market. Investing can be a great way to make your money work for you, so you don’t have to be stuck in a 9 to 5 job for the rest of your life.

A good place to start is to read up on investing, speak to financial advisors, and open a brokerage account.

Recap

Finn's journey is a great example of the hard work and dedication it takes to become an entrepreneur. It shows that with some research and perseverance, one can achieve success in their field.

Following Finn's journey is a great way to gain insights into the world of entrepreneurship and can be a great source of inspiration. Whether you're just starting out or have been in business for some time, Finn's journey can help you on your own entrepreneurial journey.

At michaelcrane.live, we're proud to support entrepreneurs like Finn and are committed to helping more people make their dreams of owning a business come true.

Today’s podcast show has been sponsored by www.teameasycrane.co.uk, we help you build a business and generate recurring profits.

On today's M&S Podcast show, we are speaking about decisions. Decisions can be from a business perspective or a personal reflection. Every day, we make decisions, good or bad or damn right ugly. At first glance, it may seem like an easy topic for a podcast episode, but it's the driving force behind all that we do. You know it's true - the decisions you make and the paths you choose can profoundly impact your future. So take the time to explore this concept more deeply - you never know what you might discover.

8 Step decision-making process

What did we learn from the mistake of a previous decision?

It is all too easy to make a great decision, and the outcome is exactly what was wanted; however, it only sometimes works out in the way we intended, and sometimes the decision is disastrous. If you have made many terrible decisions in business, let me tell you, you are definitely not alone. One way we learn from our mistakes is by deciding after the event what worked, because more times than not, a poor decision was not all bad; there would be some of the events that were all right, but the end result was not the intended success.

How do we learn for next time?

One of the best ways to learn from a previous poor decision is to make notes and decide what didn't work before, so you can do less and, on the other, what did work and do more. We are often away in the moment of triumph or defeat and forget the good and the bad when a similar event comes our way next time.

It's essential to take the time to reflect and think about your overall outcome. It's vital to be conscious and analyse yourself at the moment. Sitting on your hands and taking the time to consider the consequences of your decisions is invaluable. Taking this time to evaluate yourself and your choices is an essential step in ensuring you reach your desired outcome.

Michael Crane Live - Episode 51 - Business Decisions

Are entrepreneurs born or bred? We have heard this saying many times about leaders. Are leaders born or bred is a more familiar statement to hear. Entrepreneurs fall into the same category of questions. In the United Kingdom, can you name an entrepreneur?

Yes, most people go to Sir Richard Branson or Sir Alan Sugar, leaders in their field, no doubt, in the United States of America, we sometimes hear many more people named as remarkable entrepreneurs. For example, the likes of Elon Mush, Bill Gates and Jeff Bezos.

WHAT WOULD YOU DO DIFFERENTLY?

Without a doubt, our guest today, Gareth, states one of his all-time grand statements, “Don’t take advice from someone who you wouldn’t take criticism”.

And the second biggest lesson would be associated with time management, no matter how much money you have or how large or small your home is, it doesn’t matter. What does matter is how we use our time to be efficient and purposeful in what we are going to be doing in our career or otherwise.

Working hard is not always working smart and one thing Gareth would change is to choose a career with fewer hours and have the use of technology at his disposal to be time efficient. And therefore, allows him to enjoy life instead of working long hours like so many other business people in his network.

BEING THERE GROWING UP WITH HIS FAMILY

He was blessed to have the time to create memories that would last a lifetime. Now that his daughter has moved away from London, he wants to continue to be able to see her no matter where she should be. Thanks to the latest technology, he no longer has to spend all his time working long hours – it does the work for him so that he can spend more time with his family. With this confidence and assurance, he can now proudly look forward to many more years of making memories with the family.

He mentions he didn’t go into business to work 15 hrs a day. He went into business to work for a company that didn’t need him as much as it did in recent years. Therefore, giving him time to spend with family doing more important things.

HEALTH IMPACT WHEN WORKING IN THE BUSINESS AND NOT ON THE BUSINESS

Life is short, and we need to use our time wisely, ensuring we can meet our financial responsibilities without needing to head to the A&E department with anxiety or even worse. As a confident businessman, he believes there is more than one way to improve efficiency within a business.

A FRANCHISE-TYPE BUSINESS – ONE LARGE UPFRONT PAYMENT

A franchise typically is a type of business where you pay one large upfront payment. In return, you receive a set of processes and branding and so much more to implement and build your business efficiently in the shortest time possible. The key reason a franchise is a good bet versus a new start-up is that you get the tried and tested processes of the things you need to do that work straight out of the gate.

A DISTRIBUTOR-TYPE BUSINESS – A MONTHLY PAYMENT

A distributor-type business is not a franchise in that you pay one large upfront payment. This is the type of business whereby you get all the efficient processes associated with a company for a tiny monthly fee. This type of business offers a less risky opportunity than shelling out a large upfront payment.

There is usually no lengthy sign-in period, and you should get all the systems required to get up and started immediately to grow your business opportunity.

Michael Crane Live - Episode 50 - Are Entrepreneurs Born or Bred

On today's podcast, we're going to be talking about business referrals and why so many people don't ask for a referral when they've done a good job. A referral can be asked of a friend, a relative, or even a customer. If you have been doing a good job, why would a friend or relative NOT give you a glowing recommendation?

Both Michael and Simon think that referrals are the best type of new business acquisition you could ever dream of. Another way of asking for a referral is indirect, asking a client to give feedback on your service. If the feedback is strong, then it would bolster your chances of winning the referral.

They are passionate about business and go the extra mile when it comes to delivering great service.

Testimonials

When you're trying to sell a product or service, it's important to get testimonials from people who have used your product or service. Testimonials can help build trust with potential customers and show that your product or service is valuable.

However, once you have a testimonial, it's important to follow up with the person who gave it to you. This shows that you're interested in their experience and that you're grateful for their feedback.

One way to follow up with a testimonial-giver is to ask them if they know anyone else who could benefit from your product or service. This shows that you're interested in helping others, and it may also lead to new customers.

Referrals

So, once we have the testimonial, it makes complete sense to either ask for the referral. Or even better to ask something like this, “whom do you know in your network who would be able to use our services? I think you will be surprised at how many referrals you would receive.

Recommendations

Is a recommendation different to a referral and if not why not? Simon on the podcast speaks about the difference between a recommendation and a referral. He refers to a recommendation as a passive scattergun approach to gaining business. All too often he believes people are not afraid to ask for a recommendation but they are afraid to ask openly for a referral. Interesting perspective no doubt.

Reward and prizes

I know a lot of corporate clients do not allow gifts of any nature, especially if they have a non-bribery policy which is ever so more popular nowadays than it used to be. So, we need to be creative in how we reward clients and friends for passing a referral to transact business. One of the ways we can give a reward is by agreeing to donate to a charity either linked to the client or friend and therefore benefiting the well-being of your community and supporter network

Conclusion

Both Michael & Simon think all people in business or otherwise should have a clear strategy when it comes to going to your network of family, friends and clients for an opportunity to work with the people they know. In starting any business this is one of your first ports of call to establish the needs and requirements of your nearest network.

Building a Business: In today's episode - Michael talks with the young entrepreneurs as they research and explore ideas and thoughts about what they want to start selling as they build their businesses.

The One to a Million project is back after a couple of months with the news: meet Alfie Young the new member of the team.

For those unfamiliar with the project, "One to a million" aims to guide and support young entrepreneurs in their early journey as they build a business from the bottom to a million by the age of 20.

The big why

In this first part of the episode, Alfie & Finn talk about their big "why" and what makes them want to try their hand at a business venture. According to Alfie, the main reason is making money, but he also wants to have a job that he enjoys and is passionate about.

The conversation moves swiftly on to the subject of success and for him living life to its fullest surrounded by the people he enjoys spending time with and doing the things he likes would be the definition of success.

Michael asks the young entrepreneurs where they get these images associated with successful people, and both boys agree that social media is a place where you can get this kind of motivation due to all those images where people are living really luxurious lives and enjoying themselves.

Building a Business

In the second part of the episode, the young entrepreneurs share with us their views on business and talk about the sort of business they are thinking about starting. They both agree they don't want to work average jobs or 50 hours a week; they don't want to follow the crowd. They want to put the effort in to be unique.

For now, as both entrepreneurs are still at school, the business they should start should not be interfering with their schoolwork, so Finn believes drop shipping is a good option due to the effectiveness of its cost.

In this business, the seller accepts customer orders but does not keep goods sold in stock. Instead, it transfers the orders and their shipment details to either the manufacturer, a wholesaler, another retailer, or a fulfilment house, which then ships the goods directly to the customer. As such, the retailer is responsible for marketing and selling a product but has little or no control over product quality, storage, inventory management, or shipping. This eliminates the costs of maintaining a warehouse. As in any other form of retail, the seller makes their profit on the difference between an item's wholesale and retail price, less any pertinent selling, merchant, or shipping fees accruing to them.

Support Network

When asked if they think it’s hard to make their first business Finn’s answer was simple. Whatever you do for the first time will be difficult but having a support network around you will help you overcome the challenges in your business journey.

And that's why "One to a Million" is a good program for young adults who might not have any experience with business because the show is a support network to help them do business if they want to do business.

In this month’s show, Michael and Simon are talking about the lessons we can take from history and the opportunities that we face today. Why is learning about history so important?

History gives us a very clear picture of how the various aspects of society — such as technology, governmental systems, and even society as a whole — worked in the past so we understand how it came to work the way it is now.

They begin by talking about the opportunities that we face today and what we can learn if we look back into history. Michael mentions the Spanish flu outbreak, how many people died during this time and what happened 10 years later. He then asks Simon why is learning about history so important to which his friend replies that the start point is to see if we can learn from history; if we can learn from history, it might help us to have that hindsight to make better decisions.

For Michael, it seems that certain things are repeating themselves and the main question is how does this time help us reflect and learn the lessons that people 100 years ago were experiencing?

For Simon, it’s a better way of doing it than before. Because before, if you didn’t do it, you cause this deflation, which causes mass unemployment, and all the complications, problems and all those horrible things that society faces through history. Whereas pouring stimulus into the economy, is like putting a pump into that blow-up bed, you’re pumping, and the bed is getting bigger and bigger. It causes inflation which, in Simon’s opinion, is better than deflation.

In Simon’s opinion business owners need to look ahead three to five years from now to start thinking about what might happen in the next years, run some scenarios (What’s the worst-case scenario for my business? What’s the best-case scenario?) sit down and spend some really good quality time and draw that classic SWOT analysis, looking at the strengths and weaknesses, the opportunities and the threats, and really hone in on that threats box to see where can they deal with those threats right now and turn those threats into potential opportunities. Because if they’re a threat for your business, there’ll be a threat, the same threat for your competitors.

Business owners and entrepreneurs need to be fit need to be sharp and make flexible decisions, ones that they know where it’s okay to do a U-turn if they think we might actually have got that wrong, or suddenly the economy swings or something changes.

It also comes down to knowing your business, your market, knowing your distributor distribution network and your manufacturers and working on that supply chain.

Sales process is a structured routine of actions that facilitate integration between sales and marketing and this will be the topic at today’s episode of the M&S monthly podcast show where Michael and Simon will be speaking about this process, what should it consist of and where should you be putting most of your energy.

Michael starts the conversation by talking about the real struggles that we’ve had during 2021, how it’s been a challenging year and also mentions his suspicions of a possible 2022 flavoured with what we’ve had in 2021. Simon talks about how the pandemic is proving catastrophic for businesses, not only because of the illness that comes with it but also because of the lack of government foresight and knee jerk reactions.

The duo agrees on the topic and Michael mentions that you need to be nimble and flexible regarding business while Simon recommends SWOT analysis when things need to change overnight.

Regarding the lessons learned from the past year, Simon says that the main lesson for him is understanding that we can pivot our business if we’ve considered the different scenarios on which the business is trading and where the economy is going

Sales process can provide amazing results and with the use of the correct tools can attract and convert new customers all at once.

Simon believes that acquiring and implementing the right systems to take away a lot of the manual work that he has to do, as also bringing in good people to his business are the things he will be doing differently this year. To make sure that we identify within our business, what are our strengths, not just the strength of the business, but our individual strengths as owners and employees. In his words “we cannot survive as a business without a really good, strong, robust sales process. And our sales process also has to be nimble and flexible. Because if we keep a rigid process when the world is ever-changing, then we’ll get stuck.”

In his opinion, the conversion lies in the speed of response, how quickly we’re able to communicate back with that client to really understand what they need. Focus on spending time with that prospect, asking the right questions, so that we’re able to provide the clients with the right solution, they are much more likely to convert with the speed of response, at the right solution.

According to Simon, the key to it all is that the client is in a place where your service is being enhanced. And the most important thing is making sure that we’ve got a means of communicating with clients. Are we communicating regularly with our clients so that they know exactly what we do and how we’re doing it?

Regarding Sales Process, in Michael’s opinion, business does not put enough emphasis on this area because they’re either great at converting winning leads or they’re great at selling additional services but what do you do when the people fall out of the funnel at the bottom. And it’s the most expensive acquisition you will do to win a client. And they are the most cost-effective practice to keep them on board by doing the simple things that probably we’re already doing, we’re just not putting enough focus on the areas of the business that need the most attention.

Michael and Simon recommend you look into your sales process, do your SWOT analysis and turn yourselves into efficient profit. Remember: focus on the companies that are working with you rather than against you.

Harlequins Rugby Club, the analogies between sport and business are commonplace. We talk about being at the top of our game, we toss ballpark figures around, we put the ball in someone else’s court. We have teams and coaches.

In this podcast episode, Michael’s guest is someone who was a professional sportsman and has now transitioned into the world of business and finance. He may not use all the analogies, but he does talk about the lessons learned and how he now applies them to his new career.

Toby Freeman was a professional rugby player, who ended his career at a high point – playing for the Harlequins.

Second career

Unlike many professionals who expect their career to last their entire working life, sportspeople know that they will retire at a relatively early age. Toby had already begun to think about what direction he might go in a couple of years before making the move. He and Michael talked about the process he went through. There were some clear phases he went through from not wanting to think about retirement, to realizing he needed a plan but not knowing what that was, to having a plan and taking action.

Pursuing goals

Some people have a clear dream of their ideal life from an early age and pursue it. Others develop their dreams more gradually, or maybe even accidentally. But once you know what you want to do, the direction you want to go in, you need determination and persistence to achieve it. As Toby says, “If you’re stubborn enough, for long enough” then you can achieve a lot. For him, that meant a place in the Harlequins, playing top-level rugby.

Now he’s applying a similar ethos to developing his second career. He knows it won’t all be easy or plain sailing, but his experience of putting in the work in sport is standing him in good stead now that he has turned his talents to financial planning.

Lessons about leadership

The success or failure of leadership is very clear in sports. It can be measured in goals scored, records beaten, championships won or lost. Toby talks about the lessons he learned as a younger player, watching more established players, watching the coaches, seeing what worked and what didn’t. Now he coaches in his spare time and he’s able to apply these lessons practically on the rugby pitch. But how do they relate to business in general and his work in particular? Listen in to hear more about how he applies important lessons from his past to help him with his current role.

Financial education for entrepreneurs

Michael shares with Toby some of his own experiences about financial education, and they talk about the importance of taking ownership of your own financial future. Toby is clear that there is no one-size-fits-all solution for his clients. He is always keen to listen to them talk, not just about their current situation, but about their hopes and dreams for the future. Each person is unique, and their financial plan must work for them. This means being educated about possibilities and options, not just buying a product that may or may not achieve the outcome they want. Some people may, for example, be best served by amalgamating all their pensions into one pot. Other people may benefit more from a different plan.

Whatever the situation, nothing will happen without a plan. Just as you may plan your marketing campaign or your supply chain for your business, you need to plan your personal financial future.

Who wants to be a millionaire?

This episode of the one-to-a-million podcast is very different to what has gone before. For a change Michael Crane, the podcast host, finds himself in the guest seat, being interviewed about his own business experience, and the reasons behind the show.

What's the first step to becoming a millionaire?

This question reflects the origins of the show, and Michael shares his insights on making money. While having a successful business is a major step in the process, there are some savvy ways to make your money work harder, grow faster, and give you an enviable lifestyle quicker. Michael talks from his own experience—early mistakes, lessons learnt, and his current successful approach. He shares it all, providing useful insight to anyone who has their eyes fixed on that goal.

Is it possible to become a millionaire from your bedroom?

When asked about the right and wrong way to start a business, Michael’s answer was simple. The only wrong way is to not get started. His own experience was to start from his bedroom. Short of space and short of money to invest in a rented office, he had no choice. He talks about some of the lessons he learnt, and how young entrepreneurs can benefit, not just from his example, but also from his experience of how to do things differently. He knows that if he started the same business from scratch now, he’d be more successful in a lot less time.

Do you need a six-figure income to be a millionaire?

Michael has a strong belief that anyone has the potential to be a millionaire, if they have the right attitude and the right tools. While he can’t do anything about your attitude, he is here to help you with the tools. He talks about money management, about how to make your money work for you, and not the other way around. He talks about the power of money to make money, and how to get started down that track, even if you think you’re not yet in a position to do so. Listen in to find out more about his methods and how you can apply them yourself.

One To a Million Project - The Young Entrepreneurs

The one to a million project was conceived to help young, aspiring millionaires to get started in business, and equip themselves with the knowledge and tools to make their first million. The idea was to take them from zero, not even a business, and help them from the ground up. From coming up with business ideas, through all the stages of creating and building a business, to compounding their income and reaching that magical six zeros.

As Michael explains, the project has evolved since the initial launch, and is currently in a revision phase. This means there is a fantastic opportunity for more people to get involved. If you might be interested, listen to the show to find out more about who the project is for and how to be a part of it.

Is it possible to become a millionaire without going to college?

Michael talks a lot in show about gaining knowledge, about needing a business education. For people wo dislike formal education, it is tempting to think that leaving school at the earliest possible opportunity and setting up a business, such as running a market stall, is their best option. There are certainly some high-profile life stories to support such a decision. However, those people are not necessarily typical. Michael refers to research which shows that there is a consistent correlation between income level and educational level. So while starting a business at a young age, and learning everything possible about how to run it effectively is something he recommends, it shouldn’t be at the expense of other educational opportunities.

Check this out here

Latest Networking Insights

Michael and Simon have been recording the M & S show for a while now, and each episode brings powerful information and insights to the entrepreneurs who tune in. This month is slightly different. The episode was recorded, live, at an event, providing Michael and Simon’s unique blend of expertise and business wisdom not just to the podcast audience, but also to the entrepreneurs in the room at the King’s Summit in Kent, United Kingdom.

A summit is an annual event for business owners and entrepreneurs. This year it was back to being an in-person event. For many of the attendees, including Michael, it was the first in-person business conference they’ve been able to go to in more than eighteen months. This made it extra special.

Michael and Simon talk a lot in this episode about the support group you need to form around you when you are in business. And these groups can arise in different ways and serve different purposes. Whether it’s purely a networking group, with a primary purpose of helping members acquire more business, or a mastermind group, or what Simon refers to as a mentoring group. Different groups for different purposes. And Simon explains not only the benefits of having a group of some kind around you, but why that’s so important, and how to get the best from it.

Simon and Michael discuss the highs and lows of being in business on your own. What are the stumbling blocks? What are the low points that bring you to the point of giving up? What are the tools, tips, and reasons to motivate you to keep going?

They talk about one of their old adventures. How did they cope when the going got tough? What kept them—literally—climbing the mountain? How did they reward themselves at the top?

Through all of the discussion, one theme reoccurs. People. The people around us can lift us up or push us down. There are people in our lives who are our motivational force. There are people who are our role models, cheerleaders, teachers and mentors. Michael reveals how lonely he found the first few years. How much he wanted to have people he could learn from and share with.

This is a major underlying motivation for the michaelcrane.live podcast. The desire to reach back and be there for other entrepreneurs. To offer them the help he wishes he had. And of course, taking advantage of new technology makes it possible in a way that wasn’t available twenty years ago.

In business, as in any other endeavour, it is important to have the right people near you. And Simon share his thinking about some ways in which you can achieve that.

Right there, live in the room, new networks were being formed. Group leaders were being identified. People were being offered the opportunity to leave the conference with a new vision, new tools, and a new support group to help them implement. How powerful is that?

Do you want to know more about how to build your own support network? Do you want information, motivation, inspiration? Then check out this episode, and listen to Michael and Simon talk about the importance of building your own support network, the different types of groups and purposes, and how to get started. You’ll leave with ideas and energy, just as the audience at the King’s Summit did.