Cole Hatter, Thrive – How to Build A ‘For Purpose Business’

Clickfunnels™ Cole Hatter – How to Build A For Purpose Business


Clickfunnels™ Cole Hatter: He has created one of the most successful events for Entrepreneurs called “Thrive – Make Money Matter” Where he interviews some of the world’s greatest business minds. On this podcast he reveals the 3 secrets he has found that successful ‘For Purpose Businesses’ use to build their business and take market share from their competition. Implement these in your business and see the impact it has not only on your bottom line, but most of all on the world.

Clickfunnels™ Cole Hatter: Funnel hacker radio podcast

welcome to funnel hacker radio podcast where we go behind the scenes and uncover the tactics and strategies top entrepreneurs are using to make more sales dominate their market and how you can get those same results here is your host Dave Woodward hey everybody welcome back to the frontal hacker radio on your host Dave Woodward you guys are going to love love the opportunity have today because you have an opportunity here guy who is a kindred kindred spirit of mind guy I’m just super super excited to interview today and that’s mr. Cole Hatter Cole welcome to the show thanks imma daivam looking forward to this we were just kind of joking about as far as

introductions and how formal to go and bottom line is closeness and amazing guys that a highly successful business owner for years and years most importantly the manage loves his family loves his faith and it’s all about creating a massive impact so again I’m super excited to have you on the show and want to talk a lot about kind of what you’re doing these days obviously a little bit of your back story I know we were kind of joking earlier about the idea as far as being a firefighter in Southern California and to accident – two months landing a wheelchair your dreams as far as making an impact least that way we’re kind of stopped what we’re kind of pick us up in there what happened how did you get involved and becoming this successful entrepreneur and speaker author water sports enthusiast and everything else yeah so as I was recovering from that accident we didn’t really know what my long-term physical

health would be and in order to be a firefighter you need to be in pretty much prime physical health so I was in wheelchair temporarily and then you know got on crutches and Akane and as of recording that’s totally healthy but there was that down period where again physically we didn’t know how well I would recover so started looking for other ways to make money just in case I never fully recovered physically and just for context I was in a rollover Croxon where I was ejected from the car going 80 miles an hour when I hit the pavement so I was really really hurt and so I realized that the only thing I could completely control was owning my own business regardless of how I physically healed I could run a company and I started looking for industries that made money my parents I had to move back in with my mom and dad actually I was that hurt that you know I was a firefighter living on my own got a Crocs name that was so disabling I had to move back in with mom and dad about six months or so like I mean

Clickfunnels™ Cole Hatter: What are the secrets to success

initially I was they had to feed me like it was it was that and so in that six month period of healing learning to walk again all that back at home my parents next-door neighbors were stating the husband with a broker and the wife was a real estate agent and together they were making a ton of money and it really opened my eyes to the opportunity within real estate so that’s the direction I started in and started actually investing in real estate didn’t want to be on the retail side as a realtor I just became an investor and um you know found some mentors who were where I wanted to be so I just did what they did and you know we can talk a lot about that on this podcast people are always asking

me you know what are the secrets to success I’m always clear to say there aren’t really any secrets very successful people are very publicly running their companies whether they’re publicly traded or not you can see in the public how they run their company so just do it do it rich people do and it almost always works might take you longer you might have to work harder but you know two plus two always equals four in the world we live in so I found some multi-millionaire real estate investors mentored underneath them went off to do well in real estate and that was exclusive what I did for the first five years is just real estate after the recession hammered me I realized that I shouldn’t have all my marbles in one basket and I took to heart what Warren Buffett shares of having multiple income streams so I still kept my real estate business going as best I could I mean it was limping along in the

recession and has since totally rebound and is doing better than ever has but while I was down and out was financially that is started some other companies unrelated to real estate in different industries and so today I run those companies in conjunction with my real estate investment business and you know thank God I was recording this I’m doing the best I’ve ever done not just physically but financially as well and so it’s been it was like skyrocket to the top success crashed to the bottom of the world failure and then skyrocket back to the stratosphere success and so I’ve had my ups and downs for sure goal I love that I think anybody’s been in business long enough haften had a couple of those rebounds at least or at least hope we get a couple bounces up there for sure so I think that’s awesome

so Cole tell me what did you do now I know I’m I’m hearing all about thrive I know you got a huge event coming up I’ve seen you’ve interviewed some of the huge players in any industry as far as entrepreneurs go Jacky Anfield garyvee I know you got Tai Lopez friend of ours and you know done a ton of stuff so tell me how did you get involved in that side of the business and and and what are you doing next so I’ve got a bit of a philanthropic heart and in that down season I actually moved to Mexico I completely gave up on business so I I gave you 12 years condensed into 60 seconds but when when real estate was not working for me I actually took about a year off of life my girlfriend broke

Clickfunnels™ Cole Hatter: How to make more sales in your funnels

up with me on Cinco DeMayo by the way which is just messed up I thought we were going for beers and tacos and she she she had other plans that evening so so my girlfriend breaks up with me my business is sucked so I finally just said screw it and in June three weeks after she broke up with me I moved to Mexico I joined staff with a non-profit and I said I’m going to take my savings stretch it as long as I can living off of tacos and just surf in Mexico eat tacos and give back to people and so I joined a non-profit I built houses for almost families and I was loving life it was

really great and I started to see how even though I had no income and was just you know living off what 80-bit when I say savings like what a little bit of money I had left this was 2010 so this was like two years of getting hammered in the recession I saw how just a few dollars could feed people as I have just a few dollars of mine could make a massive impact in these poorest they call colonias in Mexico and so I looked back over the four and a half years of pretty big success that I had of being 23 years old and occasionally having six-figure months wasn’t every month but you know I’d have six-figure pops here and there and five figure months every other month right so I was insanely successful

for an early 20 year old and so what did I do with it I think by my 25th birthday I’d already had three Cadillac Escalades $100,000 wakeboard boat I mean I was an idiot but I was too young to make that type of money and now that I had to sell though I didn’t go through all the drama of bankruptcy or any of that I saw my income going away so I fire sold off everything and lowered my overhead to basically nothing and I looked now that I’m living in Mexico back on the Escalades and the wakeboard boats and the insane vacations where I’d call five of my buddies and say meet me at the airport I’ve bought all your tickets let’s go like I was that guy and I had nothing to show for it and I I

Clickfunnels™ Cole Hatter: Whats the purpose of your business

had regret that I didn’t make my money matter and so I committed that when I came back America and was successful again I would do things differently this time around and I would still have fun it’s funny I make fun of having an Escalade I have one again now but I wasn’t going to make that what I did with my money I was going to make that a byproduct of my success and make my primary motive what I did with my money what I’ve coined make money matter and I would use it in ways that heaven forbid ever lost sell again I’d be able to at least look back and saw that I made a measurable difference in the world with the resources I had while I had them so I came back to

America and started what I call for purpose businesses they’re not nonprofits they’re not-for-profits they’re for purpose they make a ton of money but they do it in a way that makes the world a better place like a TOMS shoes or like you know something like that and it caught fire I got interviewed on a bunch of podcasts like this and bunch of people wrote articles on me on entrepreneur and Ian Forbes of of that type of a business and I was getting inundated with inquiries on how to do it so I said screw it there’s obviously a community of people who are thirsty for running businesses that do more than just make money they actually make a difference so we decided to throw a conference just to see what happened reached out to like you said Gary Vaynerchuk Robert Herjavec from shark tank and a bunch of a list type speakers and 480 people showed up on our first year we did last year over 600 people showed up

so we’re doing it for 30 or over a thousand people so that’s kind of the evolution of where thrive came from was just that was the business model I decided to live because my regret of having had success and spent all my money on myself was that nobody else benefited from that and now that I had to sell everything the success was totally meaningless and I committed to making a difference and so there’s just this community of us out there that really want to do well in business to live our dream lives without having any guilt because we’re also making the world a better place and that’s kind of where I’ve came from man I love that so dive in a little more on this for for purpose businesses I think that’s a really cool time yeah actually it’s funny Wes oh you and I recording this on a Tuesday

Clickfunnels™ Cole Hatter: How to build your sales funnel

Saturday what three days ago I just did a TEDx talk on this exact subject so that’ll be I don’t know when people are going to I don’t know when you’re releasing this but people can check that and they can see an a-team and talk on it but so traditionally there’s nonprofits and then there’s for profits and nonprofits rightfully so almost always they’re number one action is fundraising even more than giving back because they can’t get back without the money so if you look at a non-profit as far as energy and resources almost always the majority is spent towards getting the money and then the secondary action is to give it back and so what we said is instead of having the traditional model of really businesses doing really well taking a charitable donation to then fund a Red Cross who can’t survive without Delta

nation one of the businesses just handled the needs of the world themselves instead of businesses just making money and nonprofits just giving back what if we made this hybrid in the middle where businesses just took care of the world’s problems and solved major social issues and so that’s it and you see this popping up but you know I didn’t invent it I’m kind of pushing the forefront of spreading the word but there are companies that have been started from day one with that model like TOMS shoes for anyone who’s listening to this you know they started off their model with you buy a pair of their shoes and they will give a pair way to a child in need somewhere you have companies like Liston which LST in which makes premiere headphones the woman who founded that Brigitte for

Clickfunnels™ Cole Hatter: How she makes sales via Starkey Foundation

every pair of headphones she sells through the Starkey Foundation she donates a hearing aid to a child who can hear so you see companies starting around this and then you see old companies adaptiveness you have stella artois which was founded originally in 1322 it’s changed names and owners a few times obviously hundreds of years old and they’re now partnering with water.org with the by a lady a drink initiative to where if you buy products from stella they donate a portion of their proceeds through the water.org foundation to give clean water to men and women in the world who do not have access to it and so it’s popping up everywhere and what that does for consumers like me is

I can go to the bar and buy a corona which used to be my favorite beer ever and you know whoever owns Krone is making money or I can go to Stella which was not my favorite beer it is now though and know that someone I’ll never meet somewhere is now getting clean water because of it and so it’s like this philanthropic consumerism that’s happening and so it’s a it’s an emerging wave I think that the early adapters are changing the models now and I think that people that think it sounds ridiculous and don’t want to lose margin or profit or whatever are going to be eventually squeezed out because as the Millennials are aging and whoever’s after them are growing there’s all this consumer reporting and data that says that they are eighty four percent of them have said that they would leave their

traditional name-brand that they’ve been doing business with for a start up that as a social cause eighty-four percent regardless of brand loyalty or customer loyalty would leave their brands to go to a new company if that come to get back and so it’s not a fad I think it’s just changing the way that businesses are ran and it’s already changing where the consumers behave so I mean you’ve got the romantic side of hey you’re making the world a better place but then you have the business side of this is just smart business now and for people who are the late adaptors they’re going to

lose mark you know they’re going to lose market share I think that’s fantastic I know if it’s Dell when we started clickfunnels you probably know Stu and Amy McClaren that’s world teacher eight and basically every funnel that gets published and created and actually put live we dollar we donate a dollar to world tea trade for that and last year we know kind of a six-figure check for for doing just that so I think I love the idea as far as for purpose businesses I hope that’s that more people understand that and I think I love how it ties in to your mission as far as you know thrive and you make money matter and the whole idea behind that I think it’s dashes it’s so seamless for what you’re doing I

 

Clickfunnels™ Cole Hatter: How to get a positive feedback

congratulations on your success with that I’m really really happy for you thanks Ben yeah that’s well I mean I just kind of started the conversation but the success of thrive is really the I mean over the speakers I’m going to say the attendees we’re very clear in our messaging we are click funnel customers and so we you know we do really really good of targeting our audience as being very clear that hey if you’re just you know a consumer douchebag that wants to make a bunch of money and buy yourself stuff you’re not really going to fit in here so best of luck to you I’m not

knocking you but this is a community that wants their legacy to be more about their things and so because we’re really clear in our messaging and then drive them to our clicks home pages and all that good stuff we end up with the right audience and two years in row now the number one most positive feedback consistently I get from attendees even above our insane you know a-list speaker lineup is the community they say I’ve never been to an event where everybody’s so freakin rad so I got to say the success of thrive as the atenism and of course the speakers that you know take time out of their busy lives and schedules to come and speak to give their best content because you know although the speakers are usually teaching just a business skill I take the point of teaching the for-purpose business

model but these these entrepreneurs that are flying in to teach at thrive are giving their best strategies and techniques to make our attendees more successful than they would have been so now they have more money to potentially make a difference in the world so it’s it’s kind of a community that feeds itself which is kind of cool cool that’s just fantastic I think it said I really what people understand the importance of this this is one of the things that is near and dear to our heart in our mission here we’ve actually have three organizations that we’re looking at basically creating and adding additional revenue to primarily just from from the success quick funnels and I think

the idea behind it is as your community understands that you have a larger mission than just making money and at the same time understand that making money is not a bad thing it never has been I think the idea behind it is making money matters it was your whole mission with thrive and the idea of having that for for purpose businesses how if you don’t like how getting some ideas and tips as far as to people what are some things that they could do and they’ve got their funnel going they’ve got their business started they’re going how can they start from where they’re at and become more of a for purpose business yeah so there’s three really easy ways that they can implement it right

 

Clickfunnels™ Cole Hatter: How to increase your sales

away number one the first thing you think of is you’re going to lose money and if that’s what you want to do and just write a check like you guys give a dollar for every funnel started cool I would argue though that because if you make that for purpose known and it’s not something you do privately but it’s public that you’re going to get again more customers from it that will more than make up for what you’re giving and well a moment let me just touch on that note some people say that it’s almost gimmicky or that oh man why would I publicly give and so I always like to make it clear that my wife and I are charitable as well we keep that private we’re not flaunting the money that we donate or the people that we help because that’s our private business between us and whoever is the beneficiary my business is like Tom’s I mean use TOMS shoes again because we were taub blake Mackowski is the founder of Tom’s I have no

idea what he does personally I don’t know you know he’s worth 350 million I guarantee you he personally is charitable but that’s not published Tom’s publicly saying that they give a pair of shoes away for every pair they sell isn’t being boastful or cocky or whatever pompous it’s just a business model so there are some people that feel a little bit conflicted of giving back and being public about it I say feel that way personally right you shouldn’t be like just giving to the world to try to make yourself like well you know I see that on Facebook a person will post like ooh I’m so good I just gave people money and almost people food it’s like okay that’s kind of douchey I get that but so so I

just want to make that distinction that this isn’t about us personally this is just how your business runs everybody knows Tom’s gives a parachute away that doesn’t make them arrogant or dumb so that’s number one okay but back to the point what most of these for-purpose companies are doing are like some like you guys I don’t know how I don’t know you need to share this on the podcast what your numbers look like but what some people can do if you want to give a dollar away you can just charge one dollar more if that makes sense and the consumers paying for it and so TOMS shoes I’ll just keep using them to keep it congruent blake Mackowski isn’t losing money on this he knows what

 

Clickfunnels™ Cole Hatter: How to start your business

his cost to manufacture those shoes are probably less than five dollars and so with whatever he needed to sell one pair of shoes for he just baked in the cost of that second pair of shoes and the pairs that you and I are buying so Tom’s shoes gets all the credit of having the idea and they should but when you and I buy a pair we are paying for that second pair 7li would be another example Dale Partridge started 7li they sell bracelets and necklaces and t-shirts and you know they’re they’re like an online clothing boutique store whatever they needed to sell all their SKUs for all their inventory they just added $7 on whatever that number needed to be and now they give $7 away for every item

you buy on their website so you can go on there and buy a new hat and you scarf and you watch a new necklace and a new sweater and know that you just gave 28 dollars to charity but you actually paid a $28 premium so from the metrics side of this you can bake the cost of what you’re giving away into the business itself and as long as you’ve got a good enough product you know you’re not tripling the cost to your product where now you’re so much more than your competition people don’t want to do business with you but you’re actually funding your initiative through the product sale themselves and so one model to do that for anyone who’s listening this and wants to wants to

incorporate for a purpose model you can give product away like Tom’s you know whatever your cost of manufacturing your product is just bake it into the cost of the first one and that works with services to the cool thing about services is there’s almost no fulfillment cost cuz it’s a service so you can do that another way that I’ve seen it done is just straight monetary like what you guys are going to click funnels where it’s not a product or service that’s being given away it’s a portion of sales and so you just add that to your cost right so one of the things that Stella did is I can’t remember they call these mugs like chalice or something like that right they’re now selling these chalices for like 20 bucks they’re just these glass chalices I guarantee their cost of manufacturing them is under five bucks they’re summon for twenty and then they’re giving like ten dollars away to charity or like seven dollars way to charity so not only are they created a new revenue stream for themselves they’ve completely covered the cost of what they’re giving to charity in the product itself that makes sense yeah and then another way that I see for purpose business models

 

Clickfunnels™ Cole Hatter: Mastermind Talks

going and I’ll use this example with the event I just came from mastermind talks I was hanging out with Dylan we met a guy there who what the event decided to do that we went to is they partner with a nonprofit called defy and what not what defy does is helps inmates who are incarcerated arena Gate reintegrate into society and helps them start businesses and there are different grants available for them and we sponsored for members from defy at our event this last week and one of the gentlemen there started a was a call the granola bar company called prison bars which i think is rat they’re called the prison bars because it’s kind of in prison and and the tagline is they are criminally delicious which i think is just pretty cool and so so he went to jail he’s nonviolent he just didn’t pay taxes

and he tells a story publicly so I’m not like throwing out his dirty laundry but he you know he didn’t pay his taxes and so he had to do a couple years in prison for tax fraud had this idea came out and started prison bars and is doing it phenomenally well and all of the other people that work in his company are you know convicts or pre previously incarcerated individuals because often times good men and women who made a stupid decision now struggle with employment for the rest of their lives and their knees are non-violent people he just didn’t pay his taxes went to jail and now for the rest of his life is going to struggle for employment well he ended up starting a company now he hires

inmates so those are three very easy for purpose business models people can include is giving away products or services giving away actual dollars that you’ve baked into the cost of your product or service or creating a business that targets an individual like veterans or previously convicted minima or incarcerated men and women to give those men and women an employment opportunity that they might not otherwise have so that as your business makes money and grows you’re making a difference in the world I love it cool that’s awesome that’s so you know on I mean it’s a good conversation to have what’s the result people are making more money than they ever have and making a

difference it’s not you’re not just looking at quarterly earnings and statements you’re looking at I mean you’re looking at that too if you’re running a business but you’re also looking at if you have record-breaking earnings and quarters you’ve had record-breaking donations as well and that’s what’s really cool yeah what a win-win that’s fantastic super cool so tell me you’ve got the next right events coming up I believed in to September like the 29th $0.30 like that through October first in Vegas is that right that’s correct yeah September 29th through October first

so tell let people know basically how they can they want to go how they can go and what they’re gonna learn who’s going to be there well what we’ve been talking about for last five minutes is what we teach the people are going to be there are you know amazing men and women like Les Brown you’ve heard some of the others over there Kevin Harrington was that Apolo Ohno who’s an eighth time Olympic champ medalist excuse me I’m trying to think of everyone off the top my head laurihart or jim quick and we’re still as a recording this a few months out so we’re still lining up our speaker line-up but it’s poised to be the best yet last year was the best yet first year was unbelievably yeah so so we’re we are bringing together the best speakers ever and if people want to go and learn about the conversation we’ve been having and hear in person from some of these amazing men and women it’s just a ten to

 

Clickfunnels™ Cole Hatter: Add more purpose to your business

thrive calm like at end I want to be there and thrive like thrive in life.com that’s it and then go grab a ticket yeah I love it so gay guys realize those three things I hope you guys if you didn’t run down go back and listen to them again those three areas I would really encourage you guys to take a look and find some way of adding more purpose to your business so your business now becomes a for purpose business and you least I know for us it’s one of the things we actually compete pretty heavily with Jeff Walker each year on trying to be the largest donor to a world teacher rate and it’s just kind of a fun drive where we have back and forth but I think the part that’s so neat is here you have two companies actually kind of competing to see who can actually donate the most I’m just going to say like what a fun

competition to have right like we’re gonna give more than you this year oh no you’re not oh I’ll give you like that’s cool you know it’s cool and one other thing too is I’ve heard some people talk smack on that like we already touched on publicly giving but some people say well then it just becomes a gimmick I guess your heart should be in the right place right like everyone’s heart to be in the right place but here’s what I say if there’s an entrepreneur that just wants to capitalize on this business model for market share and their hearts really not in the right place but at the end of

the day they’re feeding children or helping veterans or whatever it’s like even if their hearts in the wrong place the net sum of their action is making the world better so who cares like you know let people out give each other awesome and so you know there’s there’s always cynics doesn’t matter what you’re doing you can be giving to charity and there’s a cynic that says that it’s it’s not good for doing so but I love that I think that’s freaking rad and and I’m proud of you guys for doing that because so many people today are just about the bottom line and you guys are about you

know purpose and that’s good oh thanks we have a lot of fun with it okay guys I really hope that you’ll take it to heart here and take a look at your business find some way whether it’s a cash donation that’s I would think if you can find it more than just cash donation that’s I know for us we actually are taking actually 10 to 10 business owners to Africa this time Russell myself and nine others are going out to see the schools that are actually being built and spend time together out there and I could say it’s been really kind of fun for me as I take a look at I’ve had the opportunity of

going on a lot of different trips like these you know were talking about you know Mexico and I I take my boys down every once a year basically down Mexico and we work in a basically a medical clinic and it’s been a ton of fun for them to see a different experience and so I’d encourage you guys not only to use this in your business and again we obviously your own personal life is what you guys decide to do but take a look and find out different ways that you can enhance the lives of other people and I know Cole you know we’re talking about other things you’re doing personally outside I think that’s amazing and really super cool but just realize guys in your business the whole idea

 

Clickfunnels™ Cole Hatter: Makes our business much more fun

here is have purpose and at least I know for us it makes our business that much more fun it really I’m sure you probably seen the same thing cool just we actually have a lot more fun in our business knowing that part of what we’re doing actually is helping and benefiting the lives of other people well we can go over the the pros of doing this all day long but yeah it’s a ton of fun and good for you taking a kid down to Mexico I have an orphanage in Mexico so I lived there when I was in that season of trying to figure myself out after the girlfriend broke up me which by the way that was an open loop she became my wife so I got her back by the way ah so she dumped me I had to take a year

off to grow up I came back and married her but but yeah so I won that one but but while I was down there starting orphanage so Mexico is is near and dear to my heart so I appreciate that you go down there Thanks well again Coe I appreciate your time today and it appreciates your all that you do and the message that you’re getting off the world I think again how they work is you guys take a look at a ten thrive calm Cole’s been a great friend of us here at clickfunnels is an avid user it works with us and things and I I really hope that you guys if nothing else you listen to this podcast you find some way of really adding a for purpose to your business so call any party word before wrap

things up here no I think we’ve covered it I would just reiterate what you just said I would encourage people to you know from the unromantic place look at a for-purpose business model as as an emerging business model right that it’s you know you want to be an early adapter and be the first to take your product or service to market with this and then from the Unruh mode or unromantic spot you know let’s although we don’t like to talk about our mortality and death that day comes for all of us at my funeral no one’s going to talk about my cars my houses or my vacations I want them to be fighting over the microphone to talk about the meaningful impact I’ve made with the time and resources I had and I think that resonates with all of us and so instead of going out getting so rich some day that you

can just spend the rest of your life gaming back I think this is a cool way to be able to give back along the way and make this make a massive impact man I love it thanks so much girl I appreciate your time today but thanks remedy thanks for listening a puddle hacker radio podcast if you’d like to be notified anytime we release a new episode just subscribe over at bottle hacker radio com in addition to that we’d love to send you a free gift you can find that free gift at Ronal hacker radio com forward slash retrial one last thing is we love giving away cars so if you like access to a free dream car all you have to do is go to frontal hacker radio comm forward slash dream car and you’ll get all the details thanks again for listening

New To ClickFunnels™ But Want To Grow Your Business?

Want To Join ClickFunnels™?

Want To Take ClickFunnels™ To The Next Level?

Want To Promote ClickFunnels™ & Earn?

-Life altering accidents that happened to Cole.

-How Cole got into the interviews with some of the biggest names in business.

-What is a 4-purpose business?

-How to get involved with a 4-purpose business.

Quotes:

“84% of consumers would leave their traditional name brand for a start-up that has a cause.”

http://blog.ClickFunnels.com/radio/thrive-how-to-build-a-for-purpose-business/

Cole Hatter, Thrive – How to Build A ‘For Purpose Business’

Cole Hatter, Thrive – How to Build A ‘For Purpose Business’

 

Secret #20: You’re One Funnel Away – Part 2