icon-folder-black Mindset Entrepreneurship

Brooks Conkle - Destroy The Box, Multi-faceted Income Sources

icon-calendar 2021-12-09 | icon-microphone 57m 40s Listening Time | icon-user Joseph Ianni

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Brooks Conkle shares with us his philosophy of mountains into mountains; and while I'd like you to ponder the meaning, I want you to hear the answer from him. Today's episode is a healthy blend of insight's into real estate such as the transition from landlord to service provider should you rent your property out like it's an Airbnb. We have a healthy discussion about mindset, including a whole new approach to in/out of box thinking, as the title says, perhaps you should consider... annihilating it.

Entrepreneur. Sponge. Husband. Father. Follower of the Golden Rule. These describe Brooks Conkle. After majoring in Finance at Auburn University, Brooks traveled to New Zealand and lived there for 18 months. Upon returning stateside, he got started tackling ideas and continuing to learn new skills. He started a real estate brokerage, a local media publishing company, an event production company, an education platform, and a brick-and-mortar franchise. He’s passionate about how the internet empowers us to build brands faster than ever before and continues to disrupt every industry on the planet. He believes that life and business are one giant adventure and wants others to join in on that journey with him. We should strive no to just think outside the box, but instead should destroy the box.




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[00:00:00] Brooks Conkle: You're going to fail, like and but, by saying fail doesn't mean like the ultimate in is doom and you, you failed, but clearly along on the way up the path to growth. Man, you're going to screw up so many times and get you fall flat on your face and skin your knees and all that. It's a part of it.

[00:00:27] Joseph: Brooks Conkle shares with us his philosophy of mountains and the mountains. And while I'd like you to ponder the meaning, I want you to hear the answer from him. Today's episode is a healthy blend of insights into real estate, such as the transition from landlord to service provider, should you rent your property out like it's an Airbnb to also a healthy discussion about mindset, including a whole new approach to thinking in regards to the box. Inbox thinking, out of box thinking, and as the title says, perhaps you should consider annihilating it. I didn't mean to do that when I wrote it down, but I just couldn't stop myself.

Brooks Conkle. It is good to have you here in Ecomonics. It's great to meet you today. Looking forward to having our conversation. How are you doing? How are you feeling these days? 

[00:01:07] Brooks Conkle: Well, glad to be here. Glad to be here. Um, yeah. Look forward to connecting with you today and having a good conversation about entrepreneurship, income, et cetera.

[00:01:15] Joseph: Same here. I go through you know, when I look at what, uh, what people are up to, it gives me somewhat of a sense of, you know, what kind of coverage station are we going to have? Um, some guests, you know, they're, they're highly granular, highly specific into like their one area. Let's say they're running a service or something like that.

And they really want to get into it. So we have those kinds of conversations. We have conversations where we just go off, like blast off at this space. You know, talking about mindset and manifestation. I, I did not expect to be able to have those kinds of conversations, but I signed up for this. So I'm super grateful to have them.

Um, today my prediction is, this is a general interest episode. This is really about inspirations, about mindset, um, cause you have a, you know, a wide variety of activity and projects and that's really been your bread and butter. So that's everything that I'm going to say to, to warm this up. My opening question to you is to tell us what you do and what are you up to these days.

[00:02:04] Brooks Conkle: It's funny. I wrote an entire article about what is it that I do, uh, and listed the different ways that we make income because friends would ask me that exact question. And honestly, it's been, it's been difficult to answer every the last dozen years. Um, you know, the, the shortest answer is I'm an entrepreneur.

We make, we make income in a number of different ways. From real estate. Real estate is probably our largest income source. Uh, and that started, that started for me in the, in, uh, when I returned, I returned to the country in 2007, I was actually in new, in New Zealand and came back. And the first thing I got involved in was real estate.

And that has, uh, that stayed with me since, but we have, yeah, we have over a dozen sources of income, you know, uh, online's sponsorship, online content. Um, and we can, you know, we can go, we can go as specific as we want into, into those as you, as you'd like Joseph. 

[00:03:02] Joseph: Yeah. There, there, there are some areas that I'm definitely keen on asking more about. Uh, but what stuck out to me was also the difficulty in answering the question is, is, is what you do. I've been asking that almost from the star, although at first it was who you are, what you do, which I always thought was. Like, why would I do that? I already say their name. So it just made them repeat.

Their names seemed like a, like an easy fix, but the, what you do has always been, been tricky, but it's always a great way to open these things up. When somebody asks me what I do, I'm I'm specific. Like I, you know, I, I host, I host a show and then I, and I manage stuff, um, uh, behind the scenes at the beautiful, in addition to, you know, my, my secondary tertiary pursuits outside of the company. Writing, some dabbling in animation, um, playing games, stuff like that, passions, hobbies, and so on. But when I tell people that I do a podcast, I do. So knowing that I'm going to get pat on the head like, oh, that's good. Oh, that's, that's, that's cute. So what if I'm in the mood for that? I say that. If I want to, I guess, come across with a little bit more prestige.

I say that I'm in radio and I'm not lying because podcasting is an evolution of radio. If you distill a podcast, it is just essence. It is communicating via AirWave. I mean, you know, in my mind, this is an audio show, uh, 95% of the time, and I know the 5%, which are not screenshare. So that's how I distilled what I do.

And then I can continue to distill as much as I feel is necessary. You know, I can say, well, I'm, you know, I'm in communications or I'm in media, I guess once I get the media, that's the bedrock. I can't really go anywhere beneath that. So have you ever had, have you ever tried this method? Have you tried distilling what you do down to the essence.

[00:04:38] Brooks Conkle: So it's really funny that you mentioned that you have these different layers, depending on maybe who you're talking to or how it comes up in conversation. So that's what my wife and I have these discussions all the time and why it's so difficult to, yeah. I'm not like I'm an, I'm an attorney, I'm a CPA. I don't, I don't have that answer.

The biggest general answer is either business owner or entrepreneur, you know? Um, and if someone wants more information. Let's let's let's let's dive in. Right? Let's dive deeper. We can talk about creating online content or we can talk about courses or we can talk about real estate investing, or we can talk about, uh, we produce this.

We've actually produced events. We've produced a pub location locally. I have a local media. And so it re like that it really depends on who I'm talking to and how, how that conversation goes. Maybe it depends on what, what we talk about, I guess, about, about what we did, you know? 

[00:05:30] Joseph: Okay. Well, there's definitely a lot of lots to choose from.

I feel like I've just stepped into buffet and I'm like, okay, don't go for dessert, but I'm going to go for dessert. So 20. So either a side only on YouTube or on the website, or maybe you just mentioned it, but it's, there it is, you know, 20 income streams. I got the right number. Right. Or maybe, maybe it fluctuates.

Maybe it's like, I don't know, a little. 

[00:05:55] Brooks Conkle: Yeah. Yeah, exactly right around there. So technically 19 and I sat down, I sat down to write an article to explain to my friends, uh, what I do, and I thought maybe it would be a handful and some of them, a few of them I'll go ahead and tell you, like, if, if, if a listener out there reads the article, um, I even say it in the article, I'm like, yeah, you can debate.

If this is income, you can debate this one if it's income. But I wrote it for me and like my definitions and yeah, it ended up being like 19 ways that we bring in, you know, bringing revenue to. Which is what we kind of call our family, our family company. So, yeah. So it's like technically 19 streams of income.

I mean, I could literally go through them and then you can tell me that's interesting note or note. 

[00:06:35] Joseph: Um, I'm tempted to do that. Cause you know, I do have my, you know, I do gotta fill an hour, so that would be more than it'd be like, oh yeah, let's go through all 19 of them in detail for me. You know, when kids get their questions, like, uh, solve this problem and then show your work.

So I I'm tempted to do that. The way I would want to ask it is I guess, to go through the building blocks of this, like I don't, I don't suppose all 20 of them came through all at the same time. I think it was a matter of. It was iterative. So you had some of the early ones that allowed you the means, I suppose, to start adding these other ones onto it.

So that's how I would want to, I think that would be the most valuable thing for me, especially is, you know, what was the starting point and how you're able to get to where you are. So presumably all 19 and will be brought up over the course of this. 

[00:07:19] Brooks Conkle: Definitely did not have all 19 at one time. Uh, definitely they have ebbed and flowed. Definitely. Some of them are minuscule income streams where some of them are like much larger income streams. Right. So all, all of that is, uh, for sure. I said, and I even, I, in, in this article I talk about like, Hey, um, so yeah, I kind of disclose, I don't say like, Hey, here's what I make from each. Uh, I'll read you this line.

So assess for the past seven years, we've made a net income between 35 grand and 150 grand and less. So that's net income from my, just so people have an idea of like where, where I stand as a, you know, as a, as a business owner, it's just so someone can engage in that. Maybe listening, like, you know, I'm not trying to, I'm not like some, I'm not some big shot, multi multimillionaire, but yet it's interesting. Like how, how diversified, uh, like I really am or have become, I mean, I'm more diversified than I even realized that I was. 

[00:08:14] Joseph: So you, you had that opportunity to, um, uh, to, uh, to, to do this as self and now, uh, analysis, um, almost to the point where now some of these come up and it's like, it's like that internal debate you're having, do I count this as a, as an incoming kind and then, oh yeah, the then accounts.

And then the other thing I noticed too, cause I was going through that article briefly as well is that, so you had, you had mentioned the, the. So I might've dropped as like, you know, 30 to 150 is not the best at retaining numbers. What are the things I think that you pointed out too, was that that might seem like a, uh, there might seem like a disparity there between those two, those two points.

Now is this a matter of that's like over the course of a year that's best case scenario versus worst case scenario. 

[00:09:00] Brooks Conkle: So I just kinda threw out throughout a range of the last, like seven years kind of what we've, what that incomes kind of grant, you know, You know, seven, seven years ago, there was much less income from these income streams, you know, in seven, you know, and now in the current it's, it's much greater, I guess, is kind of what my point of doing that was just, just to show people like what can, what can happen over a period of seven or at least for us, like what happened over the, you know, the last seven years or so?

[00:09:26] Joseph: Okay. So I want to hear about some of them in specific, um, and I'm especially angling towards, um, you know, for, for our audience. Um, many of them like myself, um, I would, uh, would love to be able to start building this. Maybe some of the ones that are good, that are starter friendly. Maybe weren't the start for you.

Maybe they came on later anyways, but, um, what would you say are some of the ones that some of the most successful ones that somebody can look at? 

[00:09:49] Brooks Conkle: Um, I hate to sound so general. It's like all, like all of them, like really, really, I think it, um, it probably starts with a personality. It probably starts with interest level. You know, it starts, it starts with all those things, right? Like, so we were talking about how real estate, for example, which is like the bow, which is the book of our family's income. But we were talking about how real estate is probably one of the hardest to get involved with, you know, get involved in, if you have a little to embed.

And whatnot, but I would, I would actually sit here and say, ah, that's not necessarily true. You just have to be more creative. So when something takes a bigger investment, like real estate, you have to be a lot more creative. Like, for example, I'll just throw a few ideas at you real quick. If you don't mind, like now that I'm thinking about it.

Yeah. So you could like show I'm actually a licensed real estate. So, which is like a real estate agent, basically. So you can get your real estate license. Like if you're wanting to let's say buy and flip a property, if you're wanting to buy a long-term rental. Well, obviously it takes a lot of money. Well, go get your real estate license.

I actually advise people to get licensed because it gets you. If you have any interest in real estate whatsoever, it gets you involved in your local market. You become, you get in the note. About what's going on in your market. You're able to network with the other real estate agents that are out there buying and selling properties.

You'll meet a lot of other investors because a lot of real estate agents are investors as well, like a percentage of them. And what can you do? You can sell properties for people and make commission, which is income, which you can then invest into maybe buying a property down the road. Right? So that's, that's one thing.

What if, what if you met someone that could invest with you, they have the capital. You have the. You go fund the deal, you go get it renovated and you have like a profit split and the profit share. Right? You just got, you just got yourself involved. And I, I, I I've done this. So actually when I, my start in real estate was before I got my license, I talked the guy into going into business with me.

I found him basically hunted down and had a coffee with him. Um, we got along really good. Talk to me to go into business with me. We ended up starting a company together and, and bought renovated and sold, close to a dozen houses. And he's still, so we no longer have that company because I got my real estate license.

He kinda went a different way. We're still really good friends today. Um, I had $0. You know what I mean? I had, I had no money yet. I was able to form a company with a guy that was able to help me, help us find the financing. Um, and then us, you know, buy, renovate and sell a number of properties every number of years.

So definitely if you're, you know, if your listeners are like, I want to get involved in real estate, but don't have the funds. Uh, there's so there's so many ways to get involved in real estate that does not involve having like a ton of a ton of capital.

[00:12:45] Joseph: One thing that, um, sticks out to me though, is in the coming across as the, uh, as a salesperson in some way, right?

You are selling houses. So there is a great deal of, of sales do this. Um, if I were to say a drawing equivalent to somebody who. Uh, selling cars, but they don't drive one themselves. There's a disconnect there between the ability to sell the car versus them having one of them room. Now, I, it's not a sort of a one-to-one parallel because even if I don't own a home, I know how to live in one.

I've lived in one most of my life, you know, I live in an apartment right now, so while I don't own it, I know what is. It w what is the experience of, but nonetheless, um, is there something to watch out for, for somebody who, you know, is not a homeowner themselves to then be in the position to sell homes for others?

[00:13:34] Brooks Conkle: Right. So what you say, what you say is definitely, definitely has validity, right? Like, so every year there's new aid, brand new agents that just got their license, they're brand new in the business. They definitely don't have as much experience as the, you know, more seasoned agents. Um, maybe they're like you said, maybe they've never owned a home themselves and they're getting involved in real estate.

Like it's okay. I mean, I think it's perfectly fine. Like you have to, you have to learn somehow. In that situation. What I would recommend is, so when, when you get a re if you get a real estate license, most states require you to hang your license with a broker, uh, with a brokerage company. And so, you know, like maybe you could work with a more experienced real estate agent on like a team and then learn and then learn that way.

Um, so maybe you really kind of get your feet wet, uh, in, in that sense, in that regard. And, and you're not just out there on your own, trying to sell something that you don't completely have. You know, years and years and years, knowledge and experience on.

[00:14:35] Joseph: I've been in, in sales before, um, namely in watches and enjoyed it immensely for the, for the, for the most part. Uh, and it was, and I would say I was fortunate to at one point be able to even, um, work in the, in the luxury market because it meant, you know, taking phone calls for, we, we had, you know, we have politicians, we had, you know, we had lawyers, we had basically, we had people who could afford the watches and I'm tempted to tell us not really relevant, but I do think it's a funny story.

If you don't, I'm just going to, I don't really tell it very often. So I'm just going to tell it, so it would, would order the watches online and then if they want to do, they would come pick it up in person. And, and this one, uh, uh, gentleman comes in any, and I asked. You know, what's the, you know, what's your story.

What's what interests in this watch. And he said, well, you know, I just survived, um, uh, cancer. I got a clean bill of health and, you know, and this watch is to, is to commemorate that. And I said, oh wow, that's amazing. And he says, yeah. And, you know, and I said, so, you know, having gone through that, what did you be?

The interviewer that I am. So having gone through that, what did you. You know, w w what was your, your big takeaway from it? And he said, well, it's just none of that's what the smallest stuff anymore, you know, not to stress over the little things and to really, you know, appreciate life in it's in his grand scope.

And I said, well, that's incredible. Uh, so he, he opens a watch. It looks at it, and he's looking at. I haven't noticed that there's like a little bit of an odd bump in this leather band here. It should, it shouldn't be that way. And I'm just scratching my head going. Oh no, no. Oh, he's, he's not, he's still sort of the small stuff isn't he?

So that, it just, it was just funny to me how the, the irony of that did not, uh, did not occur to him. And I wasn't gonna say anything I'm trying to, I'm trying to sell the thing. So, I mean, I'm not, I'm not trying to then, and there was a funny story. I haven't had a chance to talk about it in a, in a good long while.

Um, but what I wanted to talk about was the competitive nature of. Um, and I'm curious about the balance between the cooperation and the competition in selling something as well as, as, as grandiose. And I would say as limited in quantity as, as homes, you know, if I'm in the store or somebody comes in, wants to buy a hundred dollar watch it's okay.

Six more people are gonna come in. They're gonna buy a hundred dollar watches. But in our homes, these things are, it's an investment of your time. You do have to work with people, showing them multiple homes. It's a great deal of time. So I'm really curious about the competitive nature of it and how you, um, you know, if you have to deal with other people selling it in the market as well. 

[00:17:00] Brooks Conkle: It's a competitive, I mean, it's competitive industry, right? Like any other, like any other kind of high level sales, uh, there's supply and demand what's really interesting in. Right now, like as we're recording, this is, I'm not sure about, you know, your markets and it's pretty, uh, solid across, at least the United States. It's pretty solid that a lot of markets are really heated right now what's causing this.

It's all, it's all, it's a number. It's a number of variables. Uh, you know, a lot of it is pandemic related people leaving large cities and going to less expensive places. So I'm in, I'm in the state of Alabama. And, uh, it's much, much less expensive here than it is. For example, you know, expensive west coast areas and whatnot.

So the supply is very low and the demand has increased. And so right now the hardest thing is just to find out if people, so it's, it's it's, I don't want to say the home sell themselves right now, but if you, you almost have to be a sales person to sell yourself. Talk someone into selling a home or to doing that the competition becomes like in today's market right now, the competition really is not even necessarily with, you know, other, uh, other agents or other real estate people.

Well, it's really with the supply itself, it's like the competition is trying to fight. Uh, I, I need to find homes for people. Um, so that's really interesting to see, but then I was also involved in our market in approximately 2008, that ballpark, where there was an economic recession, pretty big crash, large supply of homes.

And so that's really where you had to really bring out a lot of marketing shots and say, man, how, how am I going to, how am I going to get this house sold? Because there were a lot of, there were a lot of properties on the market at that time. So it's, uh, it's really interesting to see like the ebb and flow of, you know, real estate in particular, in the, in the, and we're talking in the case of a real estate agent or a real estate licensee, right.

Is kind of the, the lens that we're looking through, that we're looking through this. To tell you, I haven't been, I've been very non-traditional in my real estate career. So you let you heard me. You heard me mention earlier, I talked about I found a guy and I started a company we bought and renovated houses.

It was only after a few years that I decided to then get my real estate license. So we decided as a company, we said, oh, well, like if I get my license, I can then sell our properties. We can save money on listing our homes. And that's where that's kind of where my past to getting a real estate license, uh, even started, which then eventually led me to, uh, you know, having our own brokerage, my wife and I had our own real estate brokerage for, uh, a few years.

And so, yeah, it's, it's, it's been an interesting path, which to me, like, I love that. And so I don't know if your listeners, um, like that, but I love the idea of knowing that I'm heading in this like this direction, but I don't know the exact path to get there. Um, I know that I know the steps right in front of me and I have some kind of long-term goals, but it's so exciting for me not to know exactly, you know, maybe three years from now what it's going to look like.

Like my day to day, I love that. And it took me awhile to get to that point. I think that scares a lot of people. And at one time that did scare me. Uh, but I've fully embraced that probably over the last, probably five years of being a business owner of not knowing what's kind of around the bend a few years down the road.

And I, I flip and love it. And I mean, I like, I really do. I really like. 

[00:20:45] Joseph: Yeah, I I've, I've enjoyed it, um, at times, but to, I guess summarize my, my, my character is, I do tend to have a hard time with a lot of that uncertainty. So like for, for instance, I was doing a background acting for a number of years and I enjoyed it immensely.

It's one of those jobs. I'd be happy to go back to if I can, uh, scrape the time aside for it. Um, and the beauty of it, it was, although it was highly repetitive on the day, because they would do the same. Seeing takeover. Okay. Back to your ones, back to your ones, back to your ones. One more time, one more time, one more time, which is the S one more time was never one more time about the inside baseball for you.

And I love the idea that every time I showed up onsite, it was something different. Um, and like the rare case they had to reshoot something because there was a continuity error, but for the most part, it was, it was constantly something new. And I, and I, and I loved that, but I, I also had very little, I guess, it stake involved or initiative.

I didn't have to do too much. I just. Sit around and then take orders for a few hours. So that was, that was great. Um, in the, in the position that I'm at now, and I don't mind being transparent about this, but it's not easy with the nature of e-commerce and how much, uh, uh, our company is a constantly expanding and changing those.

So there's a lot of recalibrations and I'm, it's been hard to. Um, get used to that because from more for my anxiety, go to go down, I have to get used to things. And there's no, there's very little to actually get used to.

I'll throw this back to you in just how you've, um, I guess how you've gotten to that mindset. Um, but before I do that, What I've noticed. And I've only been trying this like the last three days. So this is very new initiative, but what I've tried to do is start to appreciate each day as something significant on the calendar, because it is, today is as a recording.

It is August 11th, 2021. There's only one August 11th, 2021. So what makes this day count interview is obviously they're, they're a highlight for me throughout the day, but it's not just those it's what else makes, makes us a significant, so that's how I've conditioned and myself to start to embrace this, but it hasn't been easy for me. 

[00:22:58] Brooks Conkle: I love it. Uh, I love that example. So, um, what, so one of the, one of the series events, so that's about producing events. So we actually produced a series at a co-working space in my local community, uh, and it was called entrepreneur screw-ups failing forward. And the whole, the whole point of it was to just bring in some local entrepreneurs.

And it was, um, to talk about. You're going to fail. Like, and, but by saying fail doesn't mean like the ultimate in end is doom and you, you failed, but clearly along the way of the path to growth, man, you're going to screw up so many times and hit you fall flat on your face and skin, your knees and all that.

It's like, it's a part, it's a part of it. And so it doesn't mean now don't get me wrong. It doesn't mean it doesn't hurt to get punched in the face. Like it hurts, it hurts to get punched in the face. But I think just knowing that like, okay, Hey, things are going good right now. So I'm probably gonna get punched in the face at some point, you know, coming up, it's almost just like known it's coming, makes it, makes it less painful and you just you're able to keep cruising.

Um, so that's, that's one thing we did that we created that series and the whole point was to tell people it's okay. Like it's okay. If things don't always go your way, like we have this. Uh, and I, and I'm sure you know, this from all the interviews that you've done with, you know, we have this, we have this thing, like, uh, like we're recording this podcast and we have to, you know, we're putting on, okay.

You know, it's almost, it's almost like it's a show. It's the same thing as, as any social media posting, it's only the highlights. It's only the good stuff, which is okay. It's because you don't think to talk about the negative or you don't think to say, Hey, man, let me tell you about how this, uh, this bomb for me, like.

It's just not a normal, it's hard. It's hard to catch that on Instagram. It's hard to catch a failure highlight. It's just, it's just tough to do. So I think when you can, you know, do things and have real conversations with other fellow entrepreneurs and talk about, uh, some of the scripts and mess ups. It's, it's a good thing I have to say.

So you mentioned what you've been doing the last three days. And I think that's really cool. It's like, it's you appreciating the present moment? I have this saying that's become really important to me every, the last couple of years. And I made a, I just made a video on it because I got back from Colorado and the saying is this it's a Haitian proverb.

The saying is mountains beyond mountain. You're like, okay. Like what the heck? Like, what does that Brooks, what does that mean? Like, 

[00:25:26] Joseph: I looked it up. That was one of my questions I had prepped, but the audience caught up on it. 

[00:25:31] Brooks Conkle: I love it. So like I, yeah. I mean to share that with your audience. So to me, mounds, it's really simple, but it's just, it's a Haitian, it's a Haitian proverb.

And what it says is, is that like, Hey, you know, you climb, you go mountain climbing, whatever you're hiking. I don't know if you've ever been hiking before, but it's, it can be tough. Like you're going up hill or you're going downhill, whatever you get to the top of the map. Maybe there's a beautiful view.

You're like, man, I just did that. That was incredible. But like when you, when you look out in the distance, there's more mountains. And so like you have, you have like two, two rules of thought. They're all like this sucks. I have all these other mountains to climb or like, yay. I have these other mountains to climb either way.

It's like, you just have what you said, which is today. And you have the hike is what I call it. So for me, when I remind myself, Hey man, there's mountains beyond mountains is to remind myself, Hey man, enjoy the journey. Enjoy the hike that you were on right now. And there's your entire life. There's going to be more mountains like, which is good.

It's bad. It's easy. It's hard. It's scary. It's all of it. It's just a part of it. So enjoy the, enjoy the, uh, enjoy the journey. 

[00:26:42] Joseph: But I, I really appreciate you, you sharing with us. Um, I, I think if over, you know, over time, you know, you talked to different people and it, I, it reminds me of this. Um, you know, I went to Catholic school.

So in 11th grade they did this thing called river road religion, very open-minded of them to actually explore other religions instead of just, you know, another year's worth of why Jesus is great. Jesus is great, but you know, there's other things that are great too. And, and they, they showed us that. And within all of the religions, every same, every single one of them all seem to have the same golden rule, which is, you know, do unto others as you would have done onto you.

And what I think is helpful is in the mountains beyond mountains is that I've seen the, the, the philosophy behind. In other, in other ways other people have said not exactly in those words, but in other, in other methods, I even watched an anatomy where the whole premise of the show is to find out at the end that you should have enjoyed the journey rather than wait for it to end the entire time.

And it encourages the viewer to go back and start over and actually try enjoying it this time. Instead of cause what it does is it's a young boy is trying to find his father. And so, you know, the, the audience spends the entire time being like, you know, when does he find his father? When does he find his father?

Oh, no, no. Now the father is putting him through another test and say finally, well, spoiler, it meets the father at the end and the father says, you know, it's all about the journey. And then the , oh man, we were so caught up on the point. We didn't enjoy ourselves. So. 

[00:28:13] Brooks Conkle: That is so, so like you just tell him that story, he kind of gave me tingles a little bit.

That's really cool. I'd be interested to watch that. Maybe you can, uh, you can send me a link to it or something. 

[00:28:22] Joseph: It's called the hunter hunter. It's a masterpiece. I absolutely love it. Sorry to spoil it for you, but you know, you probably would have, I mean, in the first episode you get the impression he's going to find his father so that part's not, not going to be a surprise.

[00:28:34] Brooks Conkle: Yeah. Yeah. I got you. No, that's really cool. It's uh, I feel like, I mean, this is gonna sound a little philosophical, but I, I feel like if you can figure out what we're, what you and I are talking about right here, or trying to discover, like, it's almost like that is best the secret sauce. And business. I mean, it's, it's all about. 

[00:28:54] Joseph: It's about the distillation, right? Because what did I say? You know, when we talked about at the beginning is nobody say podcast, I distilled out to radio. I just sold that to media. I distill that to communications. No, actually I don't communications and media, or maybe when. That's part of the work in progress too. And what I w so I think I've, I'm circling around what, what the answer is, um, which I've brought up in, uh, in like the last, uh, John Mac episode, which I, I love having him on, cause that is like huge mindset, uh, 101.

And the purpose of it is to actually find ways to make the destination. Take longer to get to if we, if we find, if we, and I do have to integrate spirituality into this because you know, and a lot of belief systems it's about being reunited with your creator. The idea is instead of, you know, leaving this, um, this existence, meeting up with our creator right away, to me, it's actually a much more logical and probably realistic assuming, you know, all of the assumptions, uh, her, the two within that, the next chapter is actually going to take significantly longer.

And the next after that is going to take 10 times as long to. So our mission is to actually put as much space as we can. From now to the destination, because the longer you take on the journey the, the more you'll you'll unearth, the more knowledge you'll gain the better off you'll be. I, and you almost look at destination as like, oh, this is actually the most tragic part, because now it's over and we've done everything we can think of to keep it going.

[00:30:28] Brooks Conkle: Interesting. Interesting. I like that.

[00:30:32] Joseph: It's, uh, it's been, it's been a work in progress, but I appreciate being able to share it with you just to go back to the real estate, uh, for a few more moments. Um, something else that I was, uh, uh, uh, interested in, in mentioning to you, cause you, you, you had, um, commented out, you know, what might be the housing situation here now?

You know, look at the, uh, the market's too intently or anything like that. It's more about my, you know, my observations, what kind of signs do I see up? You know, people that I talk to. So strictly speaking anecdotal, but the issue that I'm finding, at least as far as city of Toronto goes, is, is all about the efficiency of construction.

They want townhomes and they want the townhomes to be, you know, blocked into, into a group so that you have quite a few of these. Uh, and then condos are almost as plentiful as Tim Horton's. And that's saying a lot, Tim Horton's is the McDonald's of cafes up here. We also have a lot of McDonald's too. I should've just said that.

I imagine what sticks out to me is. They seem to, the only options are really seem available. Um, as far as, you know, the, the city goes is to have to purchase something. That's actually going to require a great deal of continued payment on a month to month basis, maintenance fees, property fees, bills, and then, you know, usually your gen your general day to day living expenses.

And at one point, I didn't think I could afford a home at all. Now I have a tangible goal. It's gonna take a while, but I actually have, you know, a path to get there, but now the new intimidating factor is actually the ability to afford it on a day-to-day basis. Let alone, you know, the, the, the one-time down payment of between mortgage, even my, you know, my friend, he lives in their, their, their homes or townhomes, but they're treated like condos.

So there's maintenance fees having to, you know, um, manage the park, take out the trash, uh, snow removal. Those are, those are the thoughts that I went on to collect out loud. But what I would like to hear from your point of view is when is someone really ready to become a Homer? Like, can you go as far as to actually quantify a, uh, an annual income for them to really be ready to do it?

[00:32:34] Brooks Conkle: No, but it's a good, it's a good question that you're asking. Um, and it's a good, it's a question that I think. Is different for every person. I think you'll have professionals that are financial planners, CPAs, real estate agents. They'll all have different answers for you on, you know, a banker. So a banker, you know, a mortgage company may give you a loan up to X.

You may qualify up to. I don't know. Do you want X as a, as a mortgage? Do you want Y to be your mortgage payment every month? I mean, like, just because you qualify for something, does that mean that you should take it? So I leave that up to, I leave that up to a consumer to decide, but it's good that you you're asking, not just, hey, what's this monthly payment.

Can I afford it? You're asking the total cost of ownership, which is all of that, right. The insurance is going to be different. Uh, your maintenance taxes, property taxes, right? So like adding up all of that is what you have to decide. So I'm probably one of very few real estate brokers who does not go around touting home ownership as being necessarily better than, than renting a property.

Why do I say that now? Like long-term. Yes. I think owning is one of the best. Like it's one of the best like assets you'll build and best, best investments for you. I agree. I, I would be on that side of the fence, but the general blanket statement of owning is better than renting is I would completely disagree with that and I could argue so many, so many reasons.

Um, for example, personal I'm renting right now. And let me, let me, I can explain we. As a real estate broker, I'm renting my property. We just sold our home about seven months ago. Why? Well, our market is hot. And so my wife wanted to stay in that home for the next four years. Well, she came in and toured this place where we now live and she said, wow, these are really cool amenities and whatnot.

Okay. Well, I guess I would live there. Okay, then our market got crazy. We said, well, if we can sell for this crazy price, we're willing to sell. We ended up selling our homes, one of our neighbors without ever even having to put our house on the market. Right. So we, so we sold, moved in here, but here's, what's interesting when I did.

This place seemed to be a lot more expensive than our home. I was like, ah, I don't like that. But when I, I pulled out the old penny, a spreadsheet, put all the all expenses, the total cost of ownership and total cost of being here, including utilities I've since found out that my utilities here are about half of what they were at my house.

It has now made living here literally the same exact cost as it did, uh, living in our home. So. Now, what I don't have here is I'm not building any equity in this property. Right? So within a few years, we will be searching for another property that we can renovate, renovate, and move into. But yeah, there is no, there is no blanket answer for all people.

And, uh, I'm sure people love like that magic answer, but like there isn't one and like people have to decide what are their personal goals? Here's another example of why someone shouldn't necessarily be ready to buy a house. What if you're going to move? What if you want to be? What if you want to be mobile?

What if you want to be a little bit more remote? Like my wife and I have decided that we want to do that. It's tougher. If you have ownership in a property because you have no, you have no choice. But to either rent that property out if possible, um, or to sell the property, to get out from under it. Right.

So you're, you're less flexible when you own a property. If you lease a property, you're a lot more flexible. So flexibility is flexibility is a huge one, a huge reason for renting versus owning. 

[00:36:32] Joseph: I think one, a subtopic that I think is a, is worth bringing it up at this point is also, cause I know you talk about Airbnb and I as one of the, as one source of revenue.

So, you know, cause when you're, when you're saying I know, and I'll just tell you, you know, sort of how, you know, my partner and I are looking at it as she wants to take a shot at, um, at Hollywood. So going to LA is going to have to come up. Yep. And, but we also, you know, we also want a property if for no other reason than to have that investment.

And so, you know, we're renting it out as an Airbnb is at least one option because, uh, the, uh, you, you know, there's, there's positive and negatives to it. Do you have a consistent renter as consistent income? Um, the, if you have Airbnb, you have the flexibility of accessing yet when we so desire. If for some reason we head back.

So broadly speaking, um, the, the question I throw it to you, is it just been your, your experience with Airbnb and how that and that in particular has been both your benefit and detriment. 

[00:37:28] Brooks Conkle: That's a good one. And you mentioned a few things that I think are really important for Airbnb folks. So like I put a lot of content or recently I've actually been putting some content about Airbnb on my YouTube channel.

Like things that I've. Uh, over the last seven years of being involved in air bnb. So we had, we had three units, we just sold one of the properties during the kind of price increase. It was actually better to sell than it was to keep, but like we've learned a lot. And, um, I like to tell people that if you're going to go into the Airbnb business and you want to run and operate one, like you're no longer in the, really the landlord business, you're really in like the customer service business.

Uh you're now you are now the. Uh, the front lobby of a hotel rather than a landlord. I mean, yes, you have the property, your store, you're responsible for typical things like a landlord, but you're, you're now you're up a level, right? And you better step up your game, a level above that in the sense of customer service.

People also look at the, the gross rent amount that they can get for operating an Airbnb. And they're like, man, if I rent it, uh, rent it, I'm just gonna use standard numbers because the country and the world is different, right? Oh, if I, I can rent this for $1,500 a month or something. Um, but if I Airbnb it, I can get 2,500 or $3,000.

All true, but clearly the costs are different as well. Right? The cost structure is different. So don't just use those blanket numbers and think you're making more money because your revenue is so much higher for Airbnb because your costs are dramatically higher. Uh, cleaning expenses being one. Utilities are probably the next biggest one that are all on you.

Like you're providing those, not the, not the tenant furnishing a property. I think people really under underestimate the cost to furnish a property. Like for us, it's been ballpark probably seven to eight grand ballpark for like a two bedroom property is what it's cost us to get. Fully fully outfit the fully out for the property. So, um, those are probably the biggest things to think about if someone wants to get involved in Airbnb. 

[00:39:26] Joseph: Just, uh, just to touch on cleaning very, very briefly. So, you know, in, uh, in the event for someone is unable to clean it on their own, they probably have to hire somebody to come in and do the cleaning for them, which means one more person accessing it. Then I think they might be comfortable. 

[00:39:41] Brooks Conkle: Yeah, suddenly. Um, and there are, there's some pretty cool tools for that. So there's, there's smart locks or you can give people codes. Um, you know, if you're not, if you're not super familiar with the, or, you know, have personal relationships with the cleaners that you're hiring, uh, the people that we've worked with has been someone that we have relationships that have actually cleaned our personal home before.

And so it's been really. Um, but yeah, that's, that's an added expense, but if you, if you get a good system there, it does allow you to operate remotely. Like for example, we were able, you know, this last month we actually did a kind of a test pilot of working out west for the well. And we're able to operate our Airbnbs remotely with our, you know, with our cleaner relationship and so can, can be done remotely.

And I know a number of people that operate, uh, Airbnb's remote as well. 

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I'm checking the clock and it's, ah, it's already, um, uh, two 50 out of 50 minutes. So far out of the conversation, it's just been a reason along. So what are the, what are the questions that I was like? This is like question number two is other than, you know, uh, hello, nice to meet you. This was the one that I was at I planned on asking you next. Okay. 

It's your brand. It's um, you know, they'll just stick outside the box, destroy the box. And I am seeing it on your shirt. I see it even on the, on the side of the side. So visibly it's something that means a great deal to, I'm keen on asking you about, you know, the mission of it, the, the history of it, you know, what maybe what was the catalyst to, uh, to start this mission?

And then I do have some follow-ups for it as well, getting into more like the philosophical side, but at first I want to hear the story of it. 

[00:41:38] Brooks Conkle: Yeah, sure. Uh, I'd like to say it has deep history, uh, of, of meaning it kind of just came to me one day. It really said that it's funny, there's this envelope right in front of me.

I actually just recently, I just recently actually got a trademarks in the, in, in regards to teaching like an online course. I had to pick and choose man, like getting something. Just something I've never done before. Um, there it is. Look there destroy the box, the United States of America. So I've never done that before, and that was a long drawn out process to do.

But, um, but yeah, so it's just like everyone, everyone says everyone of course says like, man, you just gotta think outside the box. You gotta think outside the box. So I decided, hey man, let's go, let's go. Let's go an extra level. Right. Okay. Yeah, you can think outside the box and just get completely get rid of the box and kind of develop, develop your own life, develop your own strategy.

I think it's really interesting that professionals in all kinds of different rooms, whether it's personal finance real estate, for example, like we talked about talk to enough professionals. You only need like five and you'll start to see how completely they disagree with each other in their professional opinions.

That's not bad. That's fine. All that means is that there's no perfect way or there's no absolute answer to everything. You know what I mean? Like that's all it means. So that all relates to destroy the box, man. Just like, you know, it's not like everything is, figureoutable like, take your path, take your steps.

And yeah. So don't just think outside of it, destroy it. So yeah, it doesn't have like this deep philosophical pass it almost. I thought about, I thought about getting it tattooed. I decided not to, but, um, so there's that.

[00:43:18] Joseph: Well, it says that'll get to bring up, uh, tattoos, uh, all too often on it. This is a good as good a chance to say, I need to share.

So this is the one that through the house so far from a legend of Zelda or, uh, in, in certain parts of the world, um, it gets me into, um, local chapters for the Illuminati, but that's, as far as when I, when I tell people about getting a tattoo is you already have. It has to be of that significance to you that, you know, if you were to visualize it, you know, in a, in a dream and in a manifest there.

So my, my view is going to a tattoo artist is paying somebody to finally reveal it. I long last, so that's, that's the, the, the philosophy that I like to share with people is like, I know what my next tattoo is. Are I got one of my, my right arm. I haven't had that review. I got one of my shoulder having revealed that one, one of my chest haven't revealed that one yet.

So that's where I want to be in my head if I'm going to, um, even if I don't ever reveal it, it still has a meaning to me. So to me, they're already there, but that's so. 

[00:44:18] Brooks Conkle: So I'll just say that's super cool, man. My so I, I did get one and my first and probably my only, and that actually hurts me. It hurts pretty bad. So. 

[00:44:27] Joseph: Yeah, I got mine on the left hand and it was. Yeah, I was, I was screaming a lot. I wasn't crying. Uh, but like the, the most painful part was actually the anxiety that came afterwards because it was such a, a paradigm shift for me. And that people were like, this is good. You're not going to get a job now.

I can get a job. Not that I would have been a fit for any place that would have, that was not going to be a make or break. Um, and would have done fine anyways, but, uh, it's, it's, it's not just the, the, the, the, the actual jabbing. It's also the, the, the change in the way people are going to perceive you down the line that I did not see coming.

So the follow-up question that I had, um, as well in, in the story of the box. So we do, obviously we, we, and we talked to a lot of entrepreneurs, so there is a lot of an ongoing conversation about the nature of our structured world and the ability for people to break free from that create their own version of it.

You know, however that structure may I may look. So when I, when I saw, uh, destroy the box, I guess what I was wondering is about is strictly speaking on a personal level, or do you have a vision for what you would like to see you maybe even change on a societal level? 

[00:45:39] Brooks Conkle: Ah, man, that's a really good question. So it's for me personally, I want other people to think that way I definitely have the vision. So this is part of the reason why I'm growing my personal brand, like Brooks, chronicle.com, YouTube, et cetera. So I definitely have the vision of wanting to see, I don't have a call to or as in like a clear mission statement, like I want to see a million lives change or a thousand lives changed in this specific way.

Like, I don't have that just yet, but I do want to see mass change, uh, in the sense for young people for financial literacy as well as entrepreneurial, like thinking thought and like invoking that into, into our young people. I think both of those things are really important. So I definitely intend to have a role in that, whether it's in a local community online, as I, as I grow my online.

And that gets larger and larger and larger, you know, once I dunno, once I can touch a million people, then I'll be able to reach, uh, and spread that specific message. I feel like I'll be ready for what it is that I want to, you know, share exactly with, uh, with those folks at that time.

[00:46:44] Joseph: The reason why I wanted to ask that too, is I guess my, my consistent position on it is like, I mean, there's different terminology for it.

You know, the grass is green on the other side. Some people refer to the matrix. I like referring to it as a matrix and I've never, I'm not anti matrix. Like I'm not system. I think it is important for there to be those structures. Uh, I, my, my, my continuing argument has always been no, not everybody has the means to take the risks that involved in becoming an entrepreneur.

You do have people. We'll have other people depending on them. Um, or maybe they just, they're just not going offer. They, they don't, they just don't want to do it. They've they've, they've reached a, um, a level of contentment that they're there. There's just nothing for them on the other side. And to that, I say know congrats, you know, and, and what it does is it does give the, you know, the entrepreneur is that, that catalyst, that, that kick in the, in the rear that says, you know, this you're, you're either rejecting it or it rejects you.

And so my, you know, my, my standing position. Okay. I know. Go away. I don't know what, what would happen if I think even if it is, um, under undergraduate control, I think even if it were to be completely, you know, unearthed or removed, I know that one would be built up in its place. Anyway. So to me, it's one of those things that's always going to be there so that at the very least it is a foil to have something to compare our own paths.

[00:48:06] Brooks Conkle: Yeah. A lot of what you just said, but yeah. I mean, definitely agree. Definitely not the red for everyone and like, okay. Back to my income streams, most of them, very few of them can stand alone and provide for my family on their own at this time. Right. So like, what does that mean? It means every one I've as a called a side hustle, call it a spending a small percentage of my time. So if someone desires that they can totally do it, just don't put your family at risk, right. Have like, have a job doing something heaven forbid at least do something that's cool that you're interested in, like, uh, have, have a position.

And then in the evening time, start your first income stream on something else that interests you or that you have, you want to dabble in or whatever. Um, if it can get rolling and make enough income and you want to leave the job. Great. If you don't want to leave the job ever. Great. You know, like it's it's so it's so flexible and fluid, like what it means to be, to be an entrepreneur work for yourself or whatever.

I, I kind of did it out of necessity. Cause when I first started real estate, I started that company and uh, with a guy. It's not like I was exploding, uh, at, at time, obviously we talked about like, you know, my income level. Right. So I had to do other hustling type stuff. I've just always been that way ever since, uh, ever since high school.

I just remember that's when I discovered, oh, I'm kind of like, I'm kind of a, I'm kind of entrepreneurial, you know? Um, that's when I first had that realization, I'm just, that's just who I am. It's just kinda how I've, how I've been for the last, since then.

[00:49:38] Joseph: One thing I wanted to get back to bringing up the real estate, one more. So one thing that stuck out to me in when I, when I asked you about the, the, the very real. Situation of people wanting to commit to home and ownership. And the answer you gave me was, I mean, for one helpful and illuminating, but what stuck out to me underneath that too, was, you know, your own stake in it.

I think what happens is if people are, you know, 100% dependent on their position. Let's say all they were were real estate. I can't have a wonder the, the answer to the question would change because they have their own underlying motivations. The more of a dependency that they have on it, the more they might angle towards a one answer set rather than another.

Have you, have you found that you're you've you had this ability to, um, really just focus on the, the objective analysis of it? Because if, when, if one pillar is, you know, if it falls over becomes dormant, you have all these other pillars. And so you have the sense of, I guess, really stability in, in all these different areas that you're working in.

[00:50:46] Brooks Conkle: I'm sure. Right? Like it's hard to be. It's hard to be subjective because I'm being objective based on my, like, it's the law, it's the lens that I've used through. Right. Which is why, which is why I said like, yeah, you asked all these different professionals and you'll get differing, differing opinions.

Clearly someone that's a licensed person like me, but, but their primary vocation is to buy and sell homes for people, their primary residences. Of course, of course there, they promote home ownership. Of course. Right. Um, so me having a license, but that's not my primary activity. Yeah. Um, yeah, that probably does affect my, my viewpoint or my lens, um, by no means just, just to clarify, you know, just, just so you know, no, one's confused by no means, am I saying homeownership is a bad idea by no means?

Uh, I think it's a great idea, but I say it just depends on your life goals, your mission, like, what are you trying to accomplish? You know, how long are you going to be at a property? There's just so many variables to. Before you make that decision of like, yep. This is the right. 

[00:51:50] Joseph: Yeah, I, I appreciate that. I've only got, I've got you for just a couple more minutes and then I got to let you go. So the last thing that I just wanted to hear about, and, you know, you're welcome to cliff notes, this, uh, to your discretion, which is I I'm just really keen on nearing about. If any, like what an average, um, a week looks like to you in terms of let's just like on Monday is habits to be like heavily into real estate then by Tuesday or by Wednesday you've you've just worked on something else entirely. So I'm really curious about your, your, your, you know, how you manage your, your different areas of expertise. 

[00:52:25] Brooks Conkle: My the week is insane and it's always different. So, I mean, admittedly, yes, I came to peace with realizing that like I'll never accomplish everything that I would prefer to accomplish. Um, I had this, I wrote this yesterday, so I'm, I used so much technology and I used this tool called Trello online, but man, I'm like pen and paper.

So this is a list I made yesterday, full sheet of paper, right? Like, um, but what I do, what I do from it is on a daily, on a daily, on a daily basis, my habit has become to take the giant list of all the stuff that's like upcoming. And I'll try to minimize it to like three to five, three to five items that, that day I'm like, this is the most important thing that I need to accomplish.

Now it could be in editing and writing a blog post. It may be creating a YouTube video. It may be going to look at a piece of real estate property, looking at getting a contractor at a property and maybe working on creating an event and maybe working on our magazine project every week is totally different.

And, uh, I've gone through ebbs and flows. Very structured, very little structured, whatever, but yeah, this is what works best for me is to have like a giant list. All of it. Eventually at some point it needs to get done. Whether it's like delegated done by me, someone on my team, whatever. Um, and then I have what's right in front of me today. Like there's three items that are the most. That are the most important that I want to try to tackle that day. 

[00:53:51] Joseph: Yeah. I have, um, a journal as well. I've been using it for seven years to get a new one each year. Uh, but what I hadn't done was distill them into what are the key things to get done that day. So that's an interesting takeaway. I'm going to, uh, I'm going to think that. 

[00:54:05] Brooks Conkle: The reason why? And let me just ask real quick, the reason why is like, so you had that big list, right? Of like all other, all this stuff. That list could be overwhelming. You talked about anxiety earlier. It's so it's ironic how just things on a list can give you anxiety, which makes no sense whatsoever, but it's real that it can give you an overwhelming sense.

So if you can narrow it down to like, literally just a few things that day, Tons of, stuff's going to catch your attention. You're going to phone call emails, things that you have to handle, but you can always go back and say, hey, okay, I've done one of those things. I have two more. Let me go back and focus on number two. It man, it's, it's been working so well for me for about the last year it's been really. 

[00:54:44] Joseph: Fantastic. I tried. I even have right size too. Yeah, it's good. Well, I, I gotta, I gotta let you go. It has been, um, fantastic to meet you and, and I really appreciate the conversation we had today. I think there's in some sense.

You know, scratch the surface. But in other cases, we've gotten to let you know a little bit, I would get to do a little bit of a deep dive, especially in, in real estate. So it means a lot to me to also know that, you know, with each episode that I put together, um, it becomes distinct in its own way. And this episode is no exception to that.

The wrap up question is, well, If you have like a piece of parting wisdom, you're welcome to share it. But I feel like the mountains beyond mountains things pretty well checks that box. Let's go back to that. Yeah. Yeah. So I'm gonna, I'm gonna, uh, we'll, we'll, we'll just use that as the, as the answer to that question.

Oh, actually, you know what, I'll, I'll leave it to you if you want to share another piece of wisdom. Go ahead. But other than that, let the audience know how they can look into what you're doing. Find you on YouTube and find your weapons. 

[00:55:41] Brooks Conkle: Yeah, sure. No, I think you're right on man. Mountains, mountains beyond mountains, go and go find the video that I did on YouTube.

And so that, that's actually one of the best ways. If folks want to connect with me or see what I'm up to is my website or YouTube. If you, if you Google me, that's probably the best way for you to kind of like click to where you want to go. So Brooks Conkle B R O O K. Last name is weird. C O N K L E. If you just Google me, find me YouTube is a good spot or my way.

[00:56:12] Joseph: Excellent. That's everything that we've got for today. So one more. Thank you for the road. And with that to my audience, as always, it is honoring our privilege to collect this information, use it for my own benefit and then share with all of you. So with that, thank you all very much for your participation. Take care. We will check in soon.

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Written by

Joseph Ianni

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