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The Mind Your Business Podcast

All entrepreneurs want to know the secret to success. James Wedmore, a seven-figure online entrepreneur, believes success is created by mindset over strategy, magic over metrics, and attitude over action. In this podcast, James untangles the common misconception that hustle and hard work are all it takes to be successful.
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Mar 20, 2017

We often hear about the upsides of business, but what about the down times? On today's show, James and Phoebe share their experiences with burn out and give the steps you can take to get out of it - and to not go back! 

James went through a burn out shortly after his first big win in 2007, where he successful released on online program, Bartend-4-Profit. He admits that he spent the following four years enduring frustration while pushing for the next big thing in his business.

Everything finally came together for James when he sold over $400,000 worth of a $97 online course, Video Traffic Academy, in 30 days.

This success gave him name recognition and more opportunities opened up for him as a result, but despite the success, he fell into the darkest period of his life. He says this happened once he realized that he had achieved the big launch he had been struggling so hard for, and then he lost all motivation.

Things turned around for James when he was given success recordings featuring Kevin Trudeau, which inspired him to really think about all of the stuff that he wanted to accomplish.

This material focused on manifestation and The Law of Attraction, and for the first time, James saw an example of someone getting tangible results from these concepts. Knowing what was possible made life and business become a new game for him.

He’s learned that happiness moves and it isn’t always found in the same place, so you always have to be asking yourself what it is that makes you happy today. You also don’t need to have a 5, 10 or 20-year plan in place, but it’s important to pull back and see the bigger picture of the direction that you’re heading in.

James had distinct phases that he went through. At first his motivation in business was for money, but then he moved into a more customer-centric phase where he focused on the transformation and impact he was having on his students and customers.

Phoebe had a different reaction after listening to the same success recordings that James did. They made her question where she was in her life and business and this sparked a downwards spiral as she ended up focusing on the negatives, or what she didn’t have.

Eventually she had a pivot, which led to her partnering with James on the podcast as well as a mastermind and other projects. To make this possible, she re-evaluated what she really did want in life, in addition to what she didn’t want.

Through his transition, James also changed his business model by looking at ways to generate revenue without having to do a launch every month. This resulted in the creation of Reel Marketing Insider, a membership site that generates about a half a million dollars annually for James with only two small launches each year.

Phoebe believes that people just need permission to decide how to fit their businesses into their lives, and not the other way around. James says you can ask your clients or audience who they aspire to be, and then simply step into that answer and live that.

After being motivated by money, and then his customers, James transitioned into a new phase where he focused on building and developing his team. He has a feeling of gratitude and fulfillment seeing the impact his business has on their lives and how everyone interacts and achieves together. He adds that remembering what we’re doing is bigger than us will keep us inspired!

Steps to avoid a burn out

Accept it - You are not alone and it’s a very common thing to face a burn out. You will have an easier time getting out of it if you accept this, rather than trying to solve it using willpower. Relax into it and be grateful for the experience, as you will be able to see the red flags in the future and have more tools to handle a burn out.

Follow your bliss – Do the play and not the work, as the work will just put you back into the burn out! James recommends making a list of 30 to 50 things that make you happy and just start doing them. Stay there for a while; sometimes we just need to recharge.

Choose what you want – Once you know what you do, and don’t want, build your ideal business around this. What are the rules that you will create for your life?

Don’t forget that more money isn’t the answer; it’s about getting clarity about your real desires and making the new game about getting that!

Submit Your Question!

LINKS:

Episode 037: How to Develop a CEO Mindset

Tony Robbins, I Am Not Your Guru

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