On this episode, Matt interviews Jay and Sterling of the Internet Business Mastery podcast. It’s their podcast that inspired Matt to start this very podcast, and today the three discuss business, life, and of course, doing over.
On this episode, Matt interviews Jay and Sterling of the Internet Business Mastery podcast. It’s their podcast that inspired Matt to start this very podcast, and today the three discuss business, life, and of course, doing over.
Resources mentioned in this episode:
Matt: Hey, this is Matt, “The Do Over Guy,” and this is Your Do Over: Episode 48.
Announcer: During an era where countless people, businesses, and organizations are feeling the pinch, running out of time, running out of money, losing confidence, feeling as if life is unfair, praying for another chance and unless something is done, life is going to pass them by. Life is going to pass them by.
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Matt: Welcome to Your Do Over, coming to you live from downtown Los Angeles. This is the place where I show people who want more out of life, people dissatisfied with their current situation, how to start over and begin a new life, setting goals and objectives so they can create wealth and live life to the fullest.
You can jumpstart your Do Over and lay a solid foundation for a better life by downloading the Three Pillars of Creating the Ultimate Do Over for free at FreeDoOver.com. It’s a 55-minute mp3 audio program that I made just for you with three specific steps on how to get success as you start over.
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So hello! Happy New Year! You know I feel like I haven’t been here in months but I guess it’s just been a few weeks. I mean I’ve been traveling in the first week of January and went down to Memphis. I love that city by the way. I actually got to meet one of the podcast listeners, Ben Johnson. If you’re listening, I had an awesome time hanging around with you. I’ll actually be back probably around the mid-February so if you want to hook up and talk about stuff. I mean I’d be open to it. I had an awesome time so anyway.
I went down to Memphis to get a pretty major rehab project started. I mean it’s not my biggest purchase but it is my biggest project. I’ve officially graduated from single-family homes. I’ve just picked up my very first multi-family. I’ve got 14-units just about a mile away from Beale Street. That’s downtown Memphis if you’re not familiar.
And then all this last week, I’ve been working around the clock to launch my real estate membership site, the Epic Pro Academy. You know I actually have no idea how much work that was going to be. I mean I was thinking I was almost done for like 10 days but there was one more thing to do here, one more thing to do there, and I had to tweak this and I had to tweak that. I mean gosh. It darned near killed me.
Well that’s a little dramatic I guess. It didn’t actually almost kill me but I got very few hours sleep. I mean essentially it stole from me the hours my 6-month old son didn’t get. It wasn’t much left after those two got done with me.
But hey, that’s what you’re going to do create that freedom. We all so long for. I mean we have talked about it before. You can get up everyday and go to work for money or you can get up everyday and work on a system that create money for you. So many people choose the former because it is a little easier in the short-term. I mean it’s more comfortable to go out and get a job and have that paycheck to rely on.
People call that security but as we’ve also discussed that comfort upfront turns into long-term discomfort. And actually the opposite is true. The upfront discomfort by way of creating a moneymaking system or in other words creating a business that upfront discomfort and as long as you stick with it. It tends to turn into long-term comfort, independence or freedom.
So the decision that you get to make, do you want the security or you want independence? I don’t know. You know your situation better than I do. But it’s –something to ponder. Right?
You know one of my favorite quotes is “if you do for the next few years what most people wont do, you’ll get for the rest of your life of what most people can’t do.” I always keep that in mind.
I’m always thinking about that especially on the tough days. When the day is tough for me to get up or is tough for me to get motivated. I mean that concept has been a very major part of my Do Over.
It’s actually been fairly accurate when it comes to my day business, real estate investing. I mean it was tough in the beginning. It was really tough. It was tough for a while but now it’s all starting to make sense. I mean it’s getting easier and easier. I guess I’m not okay with that so I go out and find something else. I’m a gotten for punishment I suppose.
As I’ve taken on a new venture in a new industry, that’s the business of selling information over the Internet. I’ve got to tell you when I got started it sure appeared it was going to be easy. I mean it really looks easy from the outside looking in.
It looks like you jut set up a website and you know tell a few people about it. All of a sudden you wake up in the morning then there’s money in your bank. It’s not really the case. You know it hasn’t been as challenging as real estate was in the beginning but it certainly hasn’t been easy.
But that too is starting to get easy as well that really goes I guess for anything worthwhile. I mean if whatever it is that you want were easy, you would probably not want it. Right?
I mean because you already have it. Exactly. So keep that in mind heading into 2012. I mean make this the year that you’re going to pick your path. You’re going to plan the work then you’re going to work the plan. You’re going to work it until you get there.
Do that for yourself this year. Do it for those that are depending on you. Okay? So as I mentioned, I completed the Epic Pro Academy just today. I mean I just launched it a few hours ago. It’s up and running. If you want to go check out my work, my latest venture, you can at EpicProAcademy.com.
Now just last week as I was working on it, I was struck by a bit of irony as I was putting the academy together and I received an email from a fellow podcaster of which I’ve been trying to get on the show for a couple of months now.
The irony of it is it’s the podcaster or should I say the podcasters, as they’re a team. It was the podcasters who initially hired me over a year ago to give an Internet business a try.
Here I am days away from launching the Epic Pro Academy. I mean reading their email and they’re email is actually accepting my invitation to be on the show. It’s a very cool day. What’s even more ironic is that I interviewed them this morning just hours before I launched the very business they inspired me to create.
I mean I couldn’t have possibly planned it that way. I got to tell you I couldn’t have done it without them. But even more importantly I probably wouldn’t have done it without them. I mean they are a wealth of information in their own industry but they’ve got a lot of good old life wisdom as well and they’ve got great Do Over stories too.
I mean they’re like the triple threat. They’re the perfect guests for this show. I’m really excited to have them on so without further adieu. I’ve got on the phone Jay and Sterling from the Internet Mastery Podcast.
Matt: Welcome to the show, guys.
Jay & Sterling: Thanks Matt. Thanks for having us on.
Matt: Yeah. I’m really excited about this today. I know both of you have been very successfully in Internet Business. I’ve been listening to your podcast for quite awhile but I know you guys did something previous to that so I would love to just kind of get your stories of what you’re doing just before you started Internet Business and what caused you to where you or to get you where you are today. I guess Sterling we could start with you?
Sterling: Yeah. Okay. Where I was before the whole Internet Business thing was I basically was the average cubicle dweller although most people thought it sounded really interesting because I worked at Warner Brothers. I would get in TV shows and commercials and different things like that but really I just had the old cubicle office, small room, computers, me. That’s it.
What I found was there was tow things that happened to me about the time I decided to be done with it. Number one was I started seeing in the industry that there was going to be something that happened that would maybe even make me lose my job or lose a lot of the work I was doing and it was just the technology thing that was making it so easy for people to edit that my special skills were becoming less and less special. I guess. (laughing)
Sterling: And the other thing was I realized that other than working 18 hours a day, you know there was a cap on how much I could work. So the only way to make more money would be just work more and that coupled with the fact it looked like I would be working less the way technology was going.
I figured I got to do something different. You know at that time I’ve, somebody, one of my editor friends gave me this book “Rich Dad, Poor Dad.” You know it talked about how passive income, which was something all around me in the film business, in the television businesses.
I just didn’t realize that it and I wasn’t part of it. That’s you know when you do a show you can get commissions for the rest of your life if you’re the actor or writer or director or you know producer or you know stuff like that but not what I did, the editing.
Sterling: But anyway, it made me go into a search for a, not only passive income but being in charge of my life and having the freedom of not just having to sit in that little room for the rest of my let’s say career of another 20, 30 years or whatever or you know at the time.
So that’s basically where I was when I decided to leave. (laughing)
Sterling: I decided to leave. (laughing) I decided to hear those magical words you hear in the movies and that was the person that was in charge of me saying, you’ll never work in this town again basically. (laughing)
Sterling: They said you would not work at Warner Brothers ever again. You’ll be blacklisted for doing this. You don’t ever get in here and leave then come back.
Sterling: So I just went wow. I’m going to be crossing this bridge and burning it behind me. I did. So that’s where I started.
Matt: Got it. Yeah. That sounds like we have something in common by the way of technology kind of leading us to that path.
Matt: Absolutely. Well that must taken not much of I’m sure it did. It took a lot of courage to make that decision. What was the tipping point that you just said enough is enough. I got to go do something different.
Sterling: Again, it was one of those things where I was you know at work and there was all these things that made me feel very proud like I was one of the youngest guys in this particular department.
I saw a lot of the guys that you know were my superiors as editors and have been there for long time. They were in their 50s. I was in my early 30s. I basically just saw my future if the technology didn’t change.
Let’s just say that wasn’t even a worry. They’re like they’ve hit their peak financially. They can’t change anything about it. They got to be here at the exact time. There was just no freedom in it that I could see.
I just started really yearning for the ability to control my day, my life, where I live. I didn’t enjoy living in LA and that’s where I was. I didn’t like Hollywood particularly to live there. You know just all these things flashed in my head that I don’t want to be this when I am 56.
Sterling: Or whatever then also just the insecurity. I thought I had you know pretty secured job because of when you are kind of a specialist of some sort. It seems like you’ve got security but you know with technology changes and whatever. I realized that I wasn’t secure at all so.
Matt: Right. Right. Just really getting in touch with if I keep doing what I’m doing then I’m going to get what they got. I don’t want it.
Sterling: Yeah. It doesn’t look like something that would make me happy. I tell you.
Matt: Right. Right. Well good. I’m glad you found something new. Congratulations for having that courage because a lot of people you know they feel stuck so awesome.
Sterling: Thank you.
Matt: Yep. Jay, your story.
Jay: Well yeah. I’ve, I guess I could say I’ve been reinventing myself for the last 8 or 9 years I started. After college I started this Electrical Engineer. I had a company that worked you know creating devices for musicians, which was great for me because I loved being a musician.
You know as a child, I thought, oh what would be cool is be a guitar player and a musician but it wasn’t a practical thing to do. So like Electrical Engineering felt like a compromised with the status quo so to speak but you know fortunately my psyche, my mind wasn’t happy with that.
After two or three years, it literally led to a draining of energy. I mean you asked what the tipping point for Sterling was. It was a number of things. It was reading “Rich Dad, Poor Dad.” One of the biggest messages I got out of that was you don’t live your life according to status quo.
It was my you know very aware wife who one of the things I admire about her is she’s always willing to go against do the courageous thing. Go against the grain. If it’s for integrity and happiness, you know she is always encouraging me to look and find other things.
It’s also the fact I was literally getting depressed. I come home from work and am just totally drained; have no desire to do much of anything. So you know fortunately I did finally dive in.
It’s not like it happened overnight. There were a good couple of years of searching, reading books, thinking this and that. Should I go back to graduate school? Should I go be a forest ranger in the national park? Should I, you know? Just like trying to figure out why do all of these different things appeal to me?
You know eventually figured out you know I love teaching. I love learning. I love having a variety in my life. I like you know having some kind of technology involved. You know this is again our process of two or three years is learning as much about myself as I could like letting me become an Electrical Engineer, quitting my job to pursue Real Estate Investing for awhile because that’s what Robert Kiyosaki has been talking or talks about those.
Realizing that wasn’t for me because I’m not a deal maker. I’m not a salesman. I was just not you know. Now years later, I know it wasn’t well suited to my strengths and fortunately eventually ending up as an information marketer and as an online marketer, teaching people online.
You know one of the things I knew that I love doing in teaching people and working with technology that’s changing all the time on the Internet and constantly new things to learn.
So there’s this reinvention from Engineer to Real Estate Investor to somebody who’s teaching real estate investors to now who’s teaching people you know online success, online business, and really when we started Internet business Mastery, which is supposed to be kind of a ‘for fun” thing.
I was mostly teaching Podcasting at the time and consulting people about how to use Podcasting for business but found out really what was working well and fulfilling me was Internet business Mastery so that became the focus then two or three years ago.
So you know you can see this process of reinvention as I guess self-awareness and trying lots of different things. You know finally led to something that right now is ultimately making me happy and we’re continually tweaking our business, looking for the other things, to deliver more value to the world as well as increase our own happiness so I guess we’ll see where that takes us in the next five years.
But I guess one of the big lessons you know when I talk to a family member or a friend who is maybe like 18 or 20 or younger or early twenties. Really as much as I thought I had it all figured out on early twenties I really had no idea who I was.
You know one of the best things you can do is just dive in and just start trying lots of things (like) reading books, doing internships, trying new hobbies, maybe taking different classes at school.
Just so you can start finding out what really appeals to your mind, what gives you energy. One of the things that you’re naturally very good at, what you’re drawn towards and so that variety and trying out a lot of things really help me out in that eight-year process of reinvention.
Matt: That was a definite process, wasn’t it? How did you and Sterling?
Jay: Well actually.
Sterling: Go for it.
Jay: Well actually it was a time when I guess we were both doing the real estate investing stuff or at least looking into it. I was in Salt Lake, Utah at that time. I went to just real estate meeting, to meet other guys that were doing that.
He happened to be the president of the group. I looked at him and he looked at about 12. I thought, how was this guy president of the real estate group. But then I got another email list and he sent an email about the fact that he was selling you know an information product on how to do the real estate thing since I was kind of at the sideline learning about.
I contacted him and said, hey let’s do lunch. And really we found that we were interested in the information marketing definitely more than the investing side of real estate that we were doing. It kind of led us to one day he was like, hey, there’s this cool podcasting thing. What do you think about this?
I’m like, oh my gosh. We got to do this. He’s like, yeah. Hello? Let’s do this. So yeah we decided to do the show form that meeting just meeting up for information. We’ve found that connection and kept going from there.
Matt: Awesome. Awesome. SO you know Jay, it was a journey of a seven to eight years. And Sterling, it was kind of like it was just a quick decision and you took action. Knowing what you know now and what your journey turned out to be, Sterling, how would you respond differently today under the same circumstances?
Sterling: Meaning what I take action like I did or?
Matt: Yeah. Was there something that you know you could have now in hindsight you could have seen say a shortcut to get where you are today or do you see some mistakes or something that you might inadvertently put it in your way?
Sterling: Yeah. I would have focused very quickly. For a while there, I was trying a hundred different things. I had 20 projects going. I think that happen for all these years so I was wasting all this time and energy on all these different projects. I had the idea that you hear that thing that one in ten businesses make it.
You know it’s like nine out of 10 businesses fail in the first five years or whatever it is. So I thought, I’ll start ten businesses then one of them will statistically make it. It seems logical to me. Right?
Sterling: Unfortunately, it pulls your focus so bad that you know you can’t put the time and effort into one main one and make that go so you know if I was to do it over again, I would have acted quicker on things like for me the investing thing. I didn’t think it was going to work out. I think it was a different personality than I had.
I just kept going for a long time rather than now. We are very big on I think Strength Finders. It’s a book out there where you find what your strengths are and you just play your strengths instead of just trying to build up all your weaknesses. See I didn’t know that then so I was trying to like, oh, I’ll just.
You know this is a weakness of mine but I’ll just make it better instead of just going. What are my main strengths? Let’s just go for that, which is what the Internet business ended up being for me.
You know it plays some major strength that I have. I would have done that much quicker. I wouldn’t have wasted probably years you know playing around with all these other things rather than you know just going this is what I am going to do. I’m going to focus on that until success because I had no plans of quitting.
I would have went back and been a waiter on the side if I had to. Even though I would have done whatever it takes to make it happen to I just want to focus on one you know got there faster. So I feel like I’m two to three years behind what I could have been doing so that’s what I would have done.
Matt: Right. So just focus on what have been for you?
Matt: Jay? You?
Jay: Well you know certainly there are a lot of things that come to mind. We started the academy with you know, which is our main training with the idea of let’s teach them with everything we wish we had known and wish we had done from the very beginning.
That is something that informs us all the time with what we actually have done and what actually works. But also as any of our teachings and trainings have evolved, one valuable thing that we’ve learned is that you know sometimes we just have to respect that process and journey so even though I could say something like I wish I have outsourced earlier. Oh I wished I had started my LLC earlier. I wish I had you know whatever earlier.
The truth is like some of those things. I might not have been ready for yet at that time. You know we used to, that led to some really streamlining in the way we share these kind of insights of what would you have done differently.
I actually spread them out and find the appropriate moments to you know help people take those next steps. The focus one is definitely though an overarching valuable lesson that the earlier you can implement that, the better.
So I guess I have been saying all that so people can realize that you know cut yourself a little slack because it’s hard to say had you known to outsource earlier and done that you know very first in your business. It would have fallen apart just because you weren’t ready for that kind of management type of task.
But whatever thing I can to share that I think even early on is super valuable is to find the right mentors. It’s always been something that every time I find the right mentor, the right coach, and the right course to help me do those next steps that somebody has already done. The next thing I want to do has always launched my progress forward.
I mean you’re going to pay for the knowledge one way or another. Either through the hard way of doing it yourself and stumbling. That’s always going to be a part of the process but it’s always worth shortcutting that process by reaching out to the right people and you know paying in whatever way whether it’s monetarily or your time and effort, which some of my mentors.
They were just helping out for free. They got me their access and knowledge that you know is worth finding those people and that access to help slingshot things forward for you for sure.
Sterling: We still live that to this day. We’re big on paying for mentors at every level. I just bought half of the guy or half of a sailboat so he would teach me these crazy things that he does.
You know Jay gave one of the big guys of our industry 20 grand to teach us some stuff so you know we still live that to this day. That would be certainly something I would have in the beginning too was to pick one course. Again it was part of my focus and did that course too as well as multiple businesses.
Jay: Of course when we first started that principle, the amounts were like $50.
Sterling: A $100 for sure. $500.
Jay: No. No. It ahs gotten to the four- or five-dollars figure now.
Sterling: Why would buy from a guy who has a lot of money?
Matt: Yeah. I just listened to that episode last night. I was hoping that that was going to the whole episode. I was interested in what happen to that meeting.
Jay: (laughing) Yeah.
Matt: So I’m looking forward to that information being in your academy. You know Jay, you mentioned some or so many different things. I don’t know if our personalities or our backgrounds are like the three of us or if it’s just the common mindset of an entrepreneur but one thing you mentioned Jay and I learned this from your podcast and has nothing to do with Internet business or anything like that is it has to do with in time learning or on-time learning.
Sterling: Just in time.
Jay: Yeah. Just in time learning. That would probably be the third thing that I would say that I learned that principle earlier and it’s all about you know only consume information or allow information to have access to you if that information has to do with the next step or something that you’re putting into action right now.
A big mistake that beginners make is and beginners or whatever whether it’s Internet business or quit Your Job Real Estate Investing or something completely different is to go out there and maybe a little phase of consuming a lot of stuff and saying, okay.
What are the possibilities but pretty quickly you need to come out of that phase and into the focus that Sterling talked about and then the big mistake is subscribing to every newsletter you can find.
Subscribe to every blog you can find. Buy five books from Amazon because the title sound great then you’re just overwhelmed. You know rather than okay. I’m only going to subscribe to this one newsletter because that’s all I need right now.
This person is in line with what I want to do and in that way my inbox is not filling up everyday with new shiny things that are going to distract or make me feel like oh, I’m not going to do that yet. I’m horrible. You get overwhelmed then stop. So just in time, learning is a key concept, information diet that is part of that like what Tim Ferris talks about a lot.
You know he stops watching the news. He started being very, very selective of about what he allowed his attention and that’s a principle to live by to this day as well.
Matt: That’s been such a huge help to me because the shiny new things. They just destroyed me. (laughing)
Matt: Since I heard that episode, it’s probably six months ago or something I heard from you guys that very quick to unclick to unsubscribe and all of these newsletters that I subscribe or two. So that’s been very helpful and what you just said about the information diet. Another thing I learned from recently from you guys was I always have this thing when I start a book I have to finish it.
And you guys have mentioned something that you know if it’s not serving you, you don’t have to finish it.
Jay: Why finish it?
Matt: Exactly. Invaluable lessons outside your business so you guys are just awesome. So yeah. We have been talking a little bit about the Internet Business. We tapped dance around that. I really have you guys on for two real reasons because I mean I’ve been hearing your podcast for a long time.
I know you guys have great Do Over stories that fit the theme of this podcast but also you have a great solution and possible answer for a lot of people out there looking to start something new and get a new, fresh start on life. Tell me a little bit more of your academy and what it provides people?
Sterling: Well, it’s our A to Z system of how to figure what it is you really want in life? What are those strengths and things and passions that you have? How can you turn that into a business that offers incredible value to the world and that people are willing to pay you very good money for?
And you know how to start a business that gives you freedom rather than taking up more of your time and just going to end up being another job that you’ve created for yourself. Then it’s you know everything from the mindset and how to come together with an idea that you know what would really work for you and that would really be profitable to the mechanic of website and email list. You know what am I going to sell? How do I attract people to my business that is going to be ready, willing, and anxious to buy the products that I offer?
So after the podcast have been around for awhile, people just started saying, where, okay, how do I just get the whole enchilada, the A to Z, nuts, and bolts? So we were really like well I guess it’s time to come up with a training that people can kind of get that system that they’re asking for and the reason that I mentioned that is that it’s a 100% of what we teach is how to attract that anxious and excited crowd of people that are passionate about what you’re passionate about.
How to find out what they really, really want and then create something for them that’ they’re just asking something that they’re asking for and ready to buy the moment that you offer it.
You know that’s what helps us build this business you know million-dollar business that doesn’t you know require a whole lot of like you know sleek salesmanship or spending a lot of money on traffic or you don’t pay for any leads of your business. Like people just find us because of the great content and value that we’re putting out there on the Internet.
So that’s the system that we teach. Our academy training is the thing that we walk people through that process step-by-step.
Matt: Uh-hmm. Being a client of yours, I can vouch for that. That really helps me focus tremendously so awesome.
Matt: Awesome. Awesome service that you guys are providing.
Sterling: Thanks. I was going to mention one more thing about it too.
Sterling: It’s one of the things that we’re really big on you know rather than just simply make money. You definitely do that for sure but you know freedom and fulfillment is huge, huge, huge mission for us. Not only for ourselves but teaching others like just for an example our business.
Jay and I live in completely different cities. We don’t work in an office together. We have our lifestyles you know Jay you know was somebody who went to Buenos Aires, New York, and you know I was more of like I want to go to the beach in San Diego.
Sterling: But we knew we want to be able to be even location, have location freedom as well as time freedom. We schedule a couple of things during the week but we work when we want. We you know make our own schedule and all that stuff.
I mean that’s one of those things that I just always want people to know that is absolutely possible. We’re just guys who went I want to do this and you know unfortunately the hard way learned it, which there was you know the system that we decided to design it later but you know I just really want to put that point that there’s also freedom in fulfillment versus oh I just want to make money or something like that.
That comes when you focus on those things. We definitely teach that in the academy. You don’t have to know ahead of time what it is you’re going to do. We’ve got the entire checklist and stuff that help with that but you know our goal is to make it as easy as possible and step-by-step it’s possible like we wanted.
Matt: Right. You’ve definitely accomplished that from one of your members definitely accomplished that so.
Sterling: That’s good to hear.
Matt: Absolutely. Hey based on a survey I conducted with the listeners of this show, I discovered the top five challenges that they’re facing inside of their Do Over. I’d like to speak on this a bit and just kind of get your perspective, your insight and perhaps some of these were an issue for you and you can I guess share how you were able to overcome them. I got six of them here so.
Matt: See if it fits. I just kind of throw them out there and you can kind of speak on it. Okay?
Matt: Big challenge number one is probably not any surprise but money, having money to get started, money to grow, just finding money. It’s a sensitive subject these days. A lot of people have this issue. Where did you guys find the money or did you have the money or did you create the money to get started in your new business?
Jay: Well one of the most powerful things that I’ve learned in this process. I believe it came from “Rich Dad, Poor Dad” of Robert Kiyosaki. It was this concept of asking yourself how could I afford it? You know we went into a route of quitting our jobs so certainly we had to simplify our lifestyle, make some sacrifices.
We were 100% willing to do that and you know get creative on how to get by in the meantime. Now we have plenty of students who build their businesses part time while they’re still in their fulltime jobs. Everyone just choose that path as they want but the wonderful thing about Internet businesses is they’re incredibly extensive to start.
You know you can get started with very little money. You can test an idea out and know in a matter of months if it’s going to work. It’s not like one of these things where you would go invest tens of thousands of dollars and wait two years to find out if your franchise is actually going to become profitable or you know wait forever and have $100,000 to invest in real estate. You’re hoping that in two years, it’s still cash flowing or whatever.
You can find that very quickly and by spending its you know the system that we teach you can get started for as little as maybe like 20 bucks a month because you need to get hosting and you need to get an email list provider and that’s it.
You know it’s not whole lot fancy equipment or big expense services or lots of marketing that you have to invest in. We teach you lots of free and expensive tools and services and things to you to get your business going.
But you know that said it’s not bad to adopt that mindset like okay if this is what I really in life, more freedom to go against the status quo. To be more fulfilled you know. Am I willing to do creative sacrifice and a few things.
Maybe shut off the cable TV to have that extra $100 a month to invest in my business. You know. Because I’d rather have the freedom that would bring. I could just watch Hullo instead or whatever the case maybe so that’s what I would say to that
Matt: Right. Sterling, anything to add to that?
Sterling: Yeah. I would say that you know with the mindset. I know you said you talk about this mindset of the only way you can fail is to quit. When you know you’re not going to quit, I think it brings a whole different mindset to it like that’s how I was when I started. I was like I’m not quitting at this.
So I’m going to do everything it takes to get there. I sold my car and downgraded to just this little Hyundai at the beginning. You know like it’s like a $10,000 car when it’s brand new.
I sure traded my car for that. I had no cable. I mean I just needed that Internet connection. I downgraded so many different things. I even moved because obviously I lived in LA where it’s incredibly expensive.
I moved back to Salt Lake. Just made it so I was financially in the place of doing it then I found that it’s not as expensive as I even thought when I first started it. Like I’d say if you went totally crazy on you know buying more than just the hosting and little things that are automated. You know starting an Internet business could be $500 at the high end and all the way down to like Jay said $20.
So it’s incredibly, it’s just the type of business that’s set for anybody. I mean no matter what your financial level is. I don’t even think you should be spending $2,000 or $3,000 or $5,000 to get started on it.
I don’t see why you would. We didn’t. I think we started both of us put in maybe $100 each into the business to get started. That was our investment. (laughing)
Sterling: That lasted us for a while because we didn’t need it all. So any other than like again I said we would have bought a mentor or bought a course faster rather than just learn from it from the beginning.
I put some money into that but as far as the business expenses or getting started, it’s really a cheap business to get started in.
Matt: Cool. So the next subject that the number two issue that negative thinking. You know a lot of them find themselves at a low point in life. It’s tough to pick themselves back up and you know maybe they’ve tried a few things. They haven’t worked out. They’re wondering is anything going to work out. How do you guys deal with if something negative starts creeping into your mind?
Sterling: Well (laughing) one of the things that really was helpful to me is a book called “The Six Pillars of Self-Esteem.” I found a lot of that stuff was just issues I’d had all through my life hearing things like you know issues about money or you can’t go do that because that’s against how everybody does it.
You know I just have all these mindset things that I needed to kind of work on and get to a place where I understood that if somebody else can do it, I could do it and if somebody have never done it, I can be the first.
Like that was a big place to get to that point where I could think that way. It takes a long time. We still every once in a while, we’ll go, and hmm, how come we’re stopped here?
It’s an ongoing personal development process but the place that was really useful for me was the “The Six Pillars of Self-Esteem” by Nathaniel Brandon. Very, very, very useful for me.
I even once a year listen to the audio book again just to kind of brush up and make sure you know I don’t have some issue that right on the surface again. But that was helpful for me.
Matt: Awesome. I’m going to check that book out. Thanks. Jay, anything?
Jay: Sterling stole my answer.
Jay: Yeah. It comes down to usually the mindset things. I know I mean it’s tough. You got to allow you know certainly don’t beat yourself up. There are going to be normal slumps. There are going to be normal you know ups and downs in life or even throughout the day or throughout the week.
Recognizing that and allowing yourself the time to figure new things out and find what kind of renewal works for you. But when I do get in a slump you know I try to find things, I try to find sources of input that give me inspiration whether that’s listening to certain podcasts, whether that’s reading certain books, certain blogs.
A lot of times that might be you know listening to someone else’s success or you know listening to one of my favorite mentors talk about you know a topic. Often those things are on the topic of very mindset related things. It is usually the way we feel is rooted and beliefs that are in our mind.
I think that book “The Six Pillars of Self-Esteem” is one of the most powerful tools that I have found for understanding and also changing those takes or beliefs that do control our daily actions and our daily moods so to speak.
So I’m finding sources of inspiration. It’s for some people it might be actually talking it out verbally with somebody for someone it could be reading books. I mean we certainly hope in our show that some people emailed us and told us so that when they listen to our show, it does amp them up. It does pull them out of the slump or give them new reinvigoration just something about the way I guess we tell our stories and share our passion. It gets them excited again to try new things.
So sometimes we do need that outside source of motivation to kind of get us jumpstarted again and start taking action based on our own intrinsic desires of what we like and want in life.
Matt: And actually it’s said our number three issue, which is motivation is people are at times keeping to themselves motivated. One of my favorite quotes come from Jerry west. He’s said, if we only work on the days we felt like it, everybody would be successful.
You know, the other one we kind of covered also is focus. People have problem with focusing. I think we did talk a little bit about just in time learning, which is had been extreme help to me. Is there anything else you can share on what help or what has helped you stay focused?
Sterling: I think that one of the things we talk about all the time is called the definite major purpose. It’s knowing what your purpose is. Once you know what you’re going for, I mean one of my strengths is I’m a futurist. I envision the future. I can see what I want with my future.
One of those you know upside to that is you know like I know what I want I just look at what’s the difference between what and where I am right now and where I want to be. I try to work on that.
But you know and again I think to a little bit of that in the academy as well is mindset wise but having that purpose helps you focus. Understanding you know what it is you love. We talked about the fulfillment stuff then going towards that. I tell you the moment it becomes more than just about money, it changes something because I created a couple of businesses where I was completely focused on, “okay. I got to get $10,000 a month.”
That seemed like a huge amount of money. Let’s go for that. I kept having major issues with that motivation because it wasn’t about fulfillment, as well you know. So being able to understand your definite major purpose is something you know I’ve written several blog posts on our site, www.InternetBusinessMastery.com about how to do it as well as we have some that in the academy teaching how to find that purpose that makes us so when you wake up and you’re doing something maybe like you know tweaking a webpage.
It is not an exciting for me at all. I’m not a technical person at all but when I know what my purpose is and why I’m doing that. Let’s say what my mission for life is. Doing that tweak you know is just one more step towards it.
It gives you know that helps with the motivation to actually do the stuff that might be boring or you know you just keep putting off for whatever reason.
Matt: Right. Right. Jay, do you have anything to do to that?
Jay: Yeah. Motivation is an interesting thing. At the beginning of last year is actually something that I was very keen to learn more about. I started reading you know different books, reading different blogs, looking at there’s a great video on YouTube. If you just Google “the surprising truth about what motivate us,” I believe that Ted talked that somebody took by a man named Daniel Pink who’s written some great books. He has compiled a whole lot of research about what motivates us.
I believe he has a book called “Drive” but that 10-minute video has a surprising treat about what motivates us. It’s what Ted’s talks set into some cool animations. You know it talks the importance of purpose as what Sterling was saying as well as the opportunity and autonomy and the opportunity for mastery.
They did all kinds of different studies. You know I’ll just let people Google that and watch it. It’s some good insights and becoming more self-aware about what actually motivates you because we all do have our different strengths. Whether it’s buying the strengths, find a 2.0 book, and taking that assessment.
Another great book is “Unique Ability.” We found that the more you focus on your strengths and your unique abilities to set your major purpose really fulfill you. Becoming more aware of that and putting your life both personally and professionally in line with those things then the more your motivation will go up and up.
Then I’ll just reiterate what I just said earlier. Remember it’s going to be ups and downs or has to be you know a give and take. You know one big mistake we made early on was working all the time on our business because we felt like we had to. There’s no time of renewal and you just you know just kind of burn out.
You got to know how to have that renewal and you know sometimes I don’t feel like working on the business. So I allow myself to go into other things to build you and me know come back you know later in another time.
We made our business such that we can do that. We just focus on the 80% of the things that gives us 20% of the results so that we can sit down for two hours Sprint and get a ton done.
It’s going to bring in new money for the business then allow ourselves to focus on other things that we like. So there are a few insights on motivation.
Jay: Actually I just want to make a quick correction just in case. We work on the 20% of things that make the 80%.
Sterling: Oh I’m sorry. I said 80% of things to make the 20% of results.
Jay: Just so somebody wouldn’t go, oh what? It’s going to be odd and awkward.
Sterling: What? That’s going to be a lot of work.
Jay: You want to do as little as possible and get the most results. Right?
Matt: Next issue is I’m actually not surprised having been divorced. I had this issue. Gosh, thank God I don’t have it anymore. I have an amazing partner that gives me the support but a lot of the people in their Do Over. They struggle with spousal or family support.
You know taking that road less traveled, the road of entrepreneur. You know a lot of people just don’t understand it. Have you guys ever had any issue with that, with spousal or family support?
Jay: Well I am very fortunate to have a wife like I said earlier that was completely supportive of me quitting my job and has been completely supportive of different decisions I make along the way.
But I know not everybody has that and even if they have spousal support, they’re still your immediate family. They’re still other people. One thing that is absolutely true is when you start bucking the trends; there will be people who try to pull you down. You know if you just start wandering away from the herd. The herd starts making a lot of noise so you come back to the herd.
You have to be first of all aware of that. When people say things that you know try to tear you down or discourage you. You realize that it’s more about them than it is about you if that makes sense.
What they’re saying even if directing at you, they’re really communicating their own fears and own mindset more than they are trying to make a statement about you even though it feels they’re making a personal attack. Realize that it’s more about you know they have certain needs for safety and for you know if your spouse is reacting every time maybe a business comes up.
You know there’s most probably a deep mindset and needs being pricked on that’s causing fear to well up so taking some time to talk about that. A really, really, really good book that I think is one of the best book that teaches about empathy and needs and how to negotiate a win-win situation for each other’s needs is a book called “Nonviolent Communication” that Sterling introduced to me a couple of years ago.
So that’s another one that maybe you could try to reading if you are in that situation. I think the more you are aware of what you need, aware of, let me just say this. It might require finding some new friends. They’re absolutely might.
And maybe not bringing certain things up to certain family members. Definitely find more like-minded that will build you up who are pursuing similar things. You have to fill your life with those people. That was one thing that help me a lot as well.
Matt: Indeed. Environment is probably just as important as a mentor. I mean those two things combined if you have those two things intact. You probably just do about anything you want to do. Do you ever have an issue?
Sterling: (laughing) Yeah.
Matt: Excuse me. This spousal-family issue is what I want to get into everything else.
Sterling: Yeah. Absolutely. I mean I’ve been since divorced since I started m business. It was just a different lifestyle. She was looking at. Although I’ll tell you that all the people that were under supportive in the beginning are now really curious.
Everybody now wants to, oh hey. Can you show me how to do that? Suddenly everybody comes back. Yeah. It was a major issue. Again just like Jay said. I ended up with new friends. You know it’s an interesting thing because sometimes I just get excited about that as well.
I go I’m now one of the only people in my group of friends that has written a book. Like I like being in that company whereas I have a whole lot of different company before. It’s an exciting thing rather than a downside if you decide to go on this path.
It leaves some people behind. I just would like to say there is just try and look on the upside of it of what’s coming because it’s how that works for me. The people that I have in my life now, I would never trade for anything so. It came from being able to push past all the people that did not want me to do it. Or you know tried their best to you know not to or to give that negative support. Let’s just call it.
Sterling: The nicest way of saying that but (laughing). I just was you know I wasn’t going to quit so I you know it’s just a matter of you know really trusting yourself. The trusting. Whatever it is that makes you want it. Like I really trust in that. If these people are not on board, it just feels to me like you know just like Jay said it’s their issue.
I can’t help if that’s their issue. I can’t help that that their issue. I know where I want to go and that’s what I did. I just moved all past that so anyway that’s all I would say.
Sterling: Other than everything he said.
Matt: Right. It’s right on point. Absolutely. You know as you’re getting older, well let me say this. A lot of people who listen to this show are either looking for their first experience of success or they’re trying to recreate a success that they had lost.
But you know the word success is actually a big broad word that everyone can define success differently by every single person. What success is to them.
As you guys age and as you become more experienced in your business and more experienced in life. How is your definition of success changed?
Jay: Completely. Totally and absolutely.
Jay: I mean it actually gotten more simpler. And I’m still working on beliefs and tapes on my mind that are countered to this. I tend to be a perfectionist. One of my strengths is achiever, which has served me very well.
Everyday I have this desire to achieve lots of things but that also works against me because I don’t want success to be defined by being good enough based on having done the right things or enough of the amount of things.
Now very simply, success for me boils down to happiness. Am I happy now in this moment? Am I working towards increased happiness as I move forward?
Happiness is I divide into three areas. Freedom one being that is very important for me. That’s why I have a business to last me to live wherever I want, to manage my own time, to make you know to increase my own income as I see it fit to spend time with kinds of people that I want to spend time with.
There’s a lot of freedom in it. The second aspect is connecting with the kinds of people in the ways that I want. Am I you know working on my relationships that are important? Like with my wife. I have a child coming soon. And preparing for that has brought me a lot of fulfillment.
Happiness. Once our daughter arrives, so you know relationships and connections is that second area of success and happiness.
Then the third area is purpose. Am I fulfilling my purpose? Am I feeling challenged continually? Am I focusing on those strengths? Am I focusing on my unique ability and you know it’s sad when they say people retiring end up dying because they ran out of money. They ran out of friends. They ran out of things to do.
That kind of you know is that the purpose of things to do. They ran out of money. We don’t have freedom anymore. They don’t friends or family to connect with. Those are the kind of things they end up regretting and sadly just withering away. Really the opposite of success is failure. However failure is a word we use very carefully.
I think the only failure is to set yourself short and not allow you to have the happiness that only you can define. No one else can define it for you. I think the only failure is if you know you don’t see to living your purpose and to having the connections in your life that are important and you know increasing the freedom that you enjoy on a daily basis.
Matt: Absolutely. Sterling, how has your definition changed or has it?
Sterling: (laughing) Well that’s the definition we have been working on that definition for ourselves and even together for years obviously. So I mean all that. The thing I would also like to point out is especially if you’re beginning is to realize that just because like I mentioned earlier. I talked to myself. I want $10,000 a month. You know I had that one thing so everyday I wasn’t making $10,000 a month. Am I not successful?
You know I mean like that’s how my mind went. I was like, I’m not successful yet. I would like to point out now that and we do this now. We every week when we do our business meeting. We talk about you know breakthroughs we’ve had, successes we had; you know that kind of stuff.
Things were you know we’re happy about. Even if it wasn’t the final result. So what I mean is when you’re starting if you put 35 minutes into your business today. That is a success. Like you have to start looking that there are small successes as well so we do on our show. We have a breakthrough section. Sometimes somebody is like; hey I got my first sing up on my email list. Well that is a success.
Somebody wanted to be on your email list. You have to start looking at you know everything that comes between let’s say the end of $10,000 a month. Or $2,000 a month or whatever you have in your mind as the thing that you know you want from this and realize that all of the things that happen.
You know again somebody signs up for your email list. Somebody comments on your blog. Somebody comments on your podcast you know. Then all the way up until you get your first sale. Like those are all successes. You have to start understanding that and enjoying and savoring those.
Matt: Absolutely. You know you guys just kind of pointed out that success is not really an event. It’s not a destination. It is a journey. You know that builds off on top of each other and evolves you know. You probably never actually get it what you thought it was when you first started. It just gets better and better.
Jay: If that’s something people, if they’re listening to that. They’re really struggling with that. Like the not yet, I’m not happy yet. I’m not successful yet. I would encourage them to Google something called “The Arrival Fallacy.”
And also look up a little book of one of our mentors, Dan Sullivan. He has a book called “The Gap.” I mean we don’t need to get going on that right now. But those are just two resources that are really speaking to people. You definitely should check those out.
Matt: Awesome. Thank you.
Sterling: Yeah. I’ll say even for myself. Recently we both have been talking about Arrival Fallacy because there have been times where we’ve hit major goals and because you’re so into that fallacy, you’re like, oh. We hit the goal but it’s not like I’m suddenly and magically happy.
Sterling: Now I just made it another goal.
Sterling: That needs to be $2 million for each or something like that.
Jay: Then you never get to reach that happiness, which in the end that you know it seems like when you start that maybe survival or being able to quit your job or whatever. Those are the goals.
But really in the end it really is the happiness. So being to understand that and start working on that even from the beginning is incredibly important. I’m getting something I wish I have understood and knew at the beginning.
Matt: Hindsight. That hindsight 20/20 thing. So Sterling up to this point in your life, what are you most proud of?
Sterling: Wow. I think that, do you mean in business? Or? (laughing)
Matt: No. For all.
Sterling: I think that finding a way to be happy at all times is just so important. I have two daughters and being able to teach them that and teach other people in having you know let’s say we have this forum to be able to talk to people.
Like you know a podcast on our site, you know being able to teach something that can really, really, really help people. I’m incredibly proud about being in that position to be able to do that with not only my family or friends but also the world.
I mean with a podcast, we are talking to the world.
Sterling: That I’m very proud of being in that position. You know taking the time and effort to focus on that.
Matt: Nice. What up to this point in your life, what are you most proud of?
Jay: Well I guess it’s just I definitely feel that you know week over week, month over month, year over year, I’m continually growing and getting happier. When I go back to that checklist of you know am I increasing the kind of freedom and enjoying the kind of freedom in my life. I can say yes.
I do have that connections and people in my life that I want to. I can say yes. Am I doing something that’s fulfilling my purpose and focusing on my strengths? I can say yes. Not that I’ve arrived and I’m done. I’m doing those things. I’m always looking to do more of those things or in new different ways that fit whatever my evolving happiness might be.
I don’t know that sadly many people in this world can say that in all accounts. So I guess that’s and not to compare one person to another. Again we all have our own journeys but so I guess even just to compare against myself to go well I’m in a completely different place that I thought I would have been if you asked me ten years ago.
But I’m definitely in a way happier place than the ten years ago person that I would have you know defined my destination to be and that’s it.
Matt: Right. So that’s your past and we’re discussing your present. What’s in your future that really excites you, Jay?
Jay: Well right now I guess it’s you know as of today I was just talking to Sterling as we record this as of today I joked with my wife. I said, hey. Happy Rightness Day! She’s like that might be a weird thing.
I just thought that it was a funny joke. The reason why is we’ve just hit the 37-week mark in our pregnancy meaning we’re in that 5-week window where it would be normal for the baby to arrive.
Now it’s likely it will be another 3 weeks until she does but I’d have to say that’s such crazy and amazing change and experience. I know it’s going to be incredibly hard as well but that’s definitely that’s the way it comes to my mind right now because it’s an all-consuming thing.
But I’m also just excited to I’m always excited. I don’t know. I’m like always excited to learn more new things and I’m excited about our business continuing to grow and hopefully reach more people and the world.
I mean yes we teach Internet business but we also teach freedom and purpose, which are two key things we love for happiness and so I’m excited what new ways we might be able to do that.
Whether it’s New York Times best-selling book, whether it’s uh, I don’t know, a radio show. We’re always exploring new avenues of delivering you know of increasing that value we’re delivering on a daily basis but at the same time than enriching our own happiness so I guess I’m just excited about possibilities. There we go.
Matt: Right. Right. Is this your first child?
Matt: I just had my first six months ago so.
Sterling: Oh wow.
Matt: It’s pretty awesome. I’m excited for you on that level. Absolutely.
Jay: Thank you.
Matt: Sterling, what’s in your future that really is exciting you?
Sterling: Well obviously the same stuff that Jay talked about as well as his child. (laughing). I’m an old vet. I got a 14-year old so a new baby has been a long time so but I think things are exciting about my future outside of what was already talked about of course where our business is going and all of that kind of stuff is incredibly interesting.
I also am very much into studying and learning and growing more of the term “limitless.” Like how do we progress, how do we grow? You know all these kind of stuff. Those are things that are very, very, very interesting and important.
I think. I want to learn them so I can them as well so everything from speed-reading. How can we you know get through all these issues that we have you know because when we started, we all have the same issues.
Am I good enough? Who’s going to listen to me? Like do I have anything to say to the world? Like there are already ten guys teaching? Well in our case 150,000 people teaching what we teach. You know how do we bring something different? You know am I good enough? You know all that kind of stuff like.
I’m definitely interested on how to help people get past that stuff as fast as humanly possible so that we can get on to the you know our possibility of limitless.
Sterling: You know for stuff and ourselves. So that’s something I’m working on right now that’s very, very exciting for me outside of course the business and my family and stuff.
Matt: Nice. Nice. You know both of you well sterling you being a parent and you Jay a parent about to be. I’ve contemplated this a lot. There’s nobody even remotely entrepreneurial in my life. Or excuse me, not in my life but in my family.
Entrepreneurs did not raise me. I don’t know how I got into it but you know, do you plan on passing or pushing I guess recommending, suggesting the life of an entrepreneur to your children or are you going to let them make up their own mind or?
Jay: Well what’s really important to me is not my daughter learns how to be an entrepreneur but that she learns the other lessons that I’ve come into this 8-year journey that I mentioned and that is just you don’t have to accept the status quo. Only you can define what happiness means for you.
You know how it is okay to go your own way. How will you discover what will make you happy? How do you increase happiness in your life? If that path happens to be entrepreneurism you know the teacher in me would absolutely love passing it on to my daughter. If it happens to be something else, well then the learner in me will absolutely love going on that learning journey with her.
So it’s more of those broad and global lessons of happiness in life that I’m most excited about passing on to her but I’m not saying I wouldn’t be thrilled if she you know can come to me one day and say, how do I start my own website?
Matt: Right. Awesome. Awesome. Sterling, how do they view it how daddy does for a living and how do you guys talk about it?
Sterling: Yeah. There are a lot of things that happen with that because I have a 12- and a 14-year old. The 12-year old. Her name is Amberly. She just asked me just recently about business and said she is interested so of course I did a little dance. Of course she was embarrassed. I was excited.
You know we talked about it. But before that and just in general just the way I explained to her the world that I do is mostly in what they see just my actions. So if they need me to come get them from school, I can just come.
If they want me to take guitar lessons, you know like anything like that, I always talk about anything that we get as what I am providing to other people so we can do this.
I try and give them the sense of giving value to other people is what can make them have the lifestyle they want. So another example is we were at Disneyland for a week.
At one point, we were in line for something. They were chatting so I got the old iPhone and was looking at my email and I saw you know our daily bank thing that comes in saying how much we made for the day. I just grinned to myself and you know they noticed. They said, oh. What are you smiling about?
I said, I just made enough today to pay for the whole trip. They’re like, you know that was initially they’re like well while we’re here. We’re here. Do you know what I mean? Like other people have to work and on that day they made money.
You know they see that kind of stuff. I explained that kind of stuff to them so that they understand that there are other possibilities. Now I don’t push. I let them hear that and make their own conclusions I guess.
You know one of my daughters want to be a veterinarian right now. I mean they’re still relatively young so that might change 87 more times. Of what they actually decide but instead of going like, oh actually you should do an Internet business. That’s the best.
I just foster her interest. I do everything that I can to help her get more information and stuff. But again they jus see my lifestyle and my ability to do things when I want, the way I want, and I think that’s more of a lesson to them than me even me telling them stuff.
Matt: Right. Awesome.
Sterling: So I do tell them stuff as well when I ask so I wait for their interest then I you know I give them the information.
Matt: Awesome. You know this has been an awesome conversation probably one of my more favorite interviews. I think it’s probably my favorite interview that I’ve done in the last year of podcasting. I owe so much to you guys because I really wouldn’t be here right now if it wasn’t for your podcasting.
You guys are just a wealth of information above and beyond your podcasting and your Internet podcasting. Thank you so much for being generous with your sharing today. I encourage, I would hope that everyone that’s listen to my show would become a listener of your show.
Jay: That would be great.
Matt: Wouldn’t it?
Jay: Come on over.
Matt: (laughing) The water is great. Right? Absolutely. So if people want to learn more about what you do, where would you recommend they go to find out?
Sterling: Well they can certainly check out the show, which can be found on iTunes. If they’re just interested so you can go on iTunes and search for Internet Business Mastery or just search for Internet Business online. We’re the number one thing but if they’re interested in the training then we recommend. If they’re like, oh I just want to dive right in. I’m ready for that A to Z.
I want to see what it’s all about then go out and check InternetBusinessFromAtoZ.com. There’s a nice free Webinar that’s kind of a nice intro to more of all these Internet Business stuff we’ve been talking about. We talk so much of the mindset and everything we’ve talked about in this interview is absolutely the stuff that has to be talked about first.
If they’re like oh, what are some of these other bits and pieces of Internet Business. I can tell that’s how it work then that free Webinar they can find at that InternetBusinessFromAtoZ.com.
Matt: Awesome. Thanks guys. I enjoyed this. I would love for you guys to come back and share with us what you’re up to and what’s going on and how everything’s going and progressed. I would love to hear about the new baby, jay. Would you guys be open to that in the future?
Sterling: it was a great conversation.
Matt: Perfect. Awesome. You bet. You have an awesome day. We’ll talk soon.
Jay: Thanks for having us on.
Matt: You bet.
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