Ep 012: Leaving a Legacy w/ Jay Magpantay

Startup Life Hacks | Business and Life Advice | Founders | Entrepreneurship

Jay Magpantay is a classic case of a serial entrepreneur. The man is extremely busy, always juggling several projects at a time. He’s the founder of EZDSIT, a clothing company that became well known and respected in the Paradise Hills community. He teaches individuals and businesses how to take their businesses online as an online business trainer. And he is Co-Founder of Live Young & Retire, a collective of individuals dedicated to living a life of freedom.

STRATEGIES USED TO FUND BUSINESS

I was very fortunate to be able to self-fund my own project and my passions. When I was in the Navy as a kid without a family, without a wife and kids, without a home to pay for, you get to save a lot of money, especially when you are out overseas not spending it.

FOUNDERS

I was a bit of an artist, and my very first business was putting my designs on clothing. I was out at sea and doodling on my black book, and thought why I should just put this on t-shirts and sell it. So I kind of just did this on my own.

WORST ENTREPRENEURIAL MOMENT

I did a lot of the work myself. Once the business took off, it took me away from what I was best at, which was building customer relationships and making sales. Because of that, the steady flow of incoming customer and sales declined and I eventually had to close up shop. It was a scary thing to hire someone full-time, especially when starting out. So the lesson I learned from that is to not do everything on your own. A good entrepreneur leverages other people.

HUGE SUCCESS

I’ve built my business from my backyard to this big industrial workspace in Santee, CA. Looking back, I still look at the previous clients I’ve worked with and the relationships I’ve built with them over the past two years.

SUPERPOWER

It would have to be crazy determination. I’ve had my fair share of failures. I take the hits and I keep coming. If I’m not the best at one particular thing, then I’ll find a way to make it work or find the person that does know, and I’ll hire them.

KRYPTONITE

When it comes to business, my weakness is accounting. I took a couple of courses in accounting and it required a high level of concentration just to understand the material. Your financial statements will give you a report on how you’re doing, and the only way to do that is if you know your numbers.

IF YOU CAN HAVE ANY SUPERPOWER…

If I can fly, I’d be happy.

RECOMMENDED RESOURCE OR APP

Winstreak: Take charge. Start a new habit.

RECOMMENDED BOOKS

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich (Expanded and Updated)

ADVICE TO HACKER NATION

Write down all of the things that you want in your life. Be specific. When you write them down, it changes from dreams into actual goals. Put these goals into somewhere where you can see them. When you see your goals, your mind sees it and obsesses over it to get it done.

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Jaymagpantay.com

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