Russell and Shelly Stone are the founders of TerraGold Plus whose journey began on a quest for natural healing. They strongly believe that there is always a solution out there and that some of the best forms of healing can be found in nature.
The goal of TerraGold Plus is to bring the best CBD products to the market so that you can be the best version of yourself. Natural ingredients, holistic healing, and a whole lotta love are what Terra Gold Plus is founded on.
Learn more about TerraGold Plus and their step towards optimal health in this episode as Russell and Shelly share their stories of encouragement, sacrifice, conquests and the simple pleasures of life.
There’s a lot of leap of faith, but having almost enough information sometimes is enough. – Russell Stone
Some Topics We Discussed Include
4:55 – How they ended up in the crazy CBD race
12:14 – Translating into a CBD business
22:26 – The main products of Terragold Plus
24:08 – Tackling cannabis and hemp spaces challenges
32:22 – Tips and tricks for budding entrepreneurs on how to push past challenges
48:54 – Where to find them
People Mentioned / Resources
Connect with Russell and Shelly Stone
Connect with Sonia Gomez
Sonia Gomez: What’s up guys, Sonia Gomez coming to you from Denver, Colorado. This is another episode of The Hemp Revolution podcast where we are sharing and telling the stories of the entrepreneurs. Both mama and papa foreigners, sometimes couple-preneurs and canna-preneurs from all walks of life.
We are sharing the stories of the people who are behind the products and brands that we love. As you know, it is our mission to share the truth about cannabis and hemp CBD so that you guys can make empowered educated decisions about how you want to cheat or manage your health and symptoms or diagnoses of your family members, your friends, your community, the people that you love conditions they may be suffering from.
We are on the brink of the largest and most significant disruption to some of the biggest industries in the world, including big pharma and the health industry. And we are super passionate about making sure that you understand what the natural alternatives are, and more importantly how you can use them to change the way that you feel and function every single day.
If you need some recommendations or some direction on which products are going to be best for you, check us out at medicalsecrets.com and if you are a budding entrepreneur or existing business owner and you are hitting the inevitable glass ceilings in this industry or bottlenecks that are just totally stopping your growth, check us out at theemeraldcircle.com where we are providing tips, tricks, tools, relationships, and resources to help you get past the inevitable challenges and start to celebrate your wins in this incredible industry.
In today’s episode, you guys be excited because it’s going down we have an incredible couple who is sharing their story with us and their journey of how they became a couple living in Chicago, my hometown and where many restaurants in our family have been built and eat in in pay for working q restaurant together there through their work together, which we’ll hear their story here in a moment, they built a beautiful life partnership.
And after many of the, let’s say, life’s challenges, including back pain from a car accident, finding out about eye disease, and a table saw accident to the hand, seriously, they’re not kidding. And we’ll hear more about that here in a minute. Frustrated with the ineffective and expensive and damaging traditional paths of modern medicine.
These struggles inspired the search for a natural and healthier alternative to the traditional medical system like so many of you guys out there, these trials and tribulations brought them to be a founder of TerraGold Plus and their vision that they strongly believe that there’s always a solution out there, that some of the best forms of medicine actually come from mother nature.
TerraGold Plus plus its mission is dedicated to bringing the best CBD products that are available into the marketplace so that we can love our lives and live happier, healthier lives together with our families and communities. Help me welcome our guests for today, this lovely couple Miss Shelly and Russell Stone. How’s it going, guys?
Shelly Stone: Hey! Thanks for having us.
Sonia Gomez: So super excited to have you guys. First of all, you’re in and around where my mom is originally from shy town or just north of there, right? How’s the weather over there right now it’s freezing balls like it is here in Denver.
Shelly Stone: It’s not we’re having a nice fall and extended fall actually.
Russel Stone: Go on Halloween. So I don’t know how great it is. But it’s sunny.
Sonia Gomez: That it’s an early winter over here in Denver. For sure. I love the bio that you guys shared with us and got to read up a little bit and fully relate because I’m also a partner for newer in the sense that I work with my husband have for years. He’s my best friend of 20 something years we’ve been married, I don’t know, eight, something like that. And I would love to hear straight from the horse’s mouth a little bit about who you guys are, what your background is and how you ended up in this crazy CBD race.
How They Ended Up in the Crazy CBD Race
Shelly Stone: That’s a big one. So it started. So Russell and I met in 2001. We met right at 911 Believe it or not, we– Russell was a professional chef and I was in front of the house in a restaurant. At the time I was a voice-over actress and Russell was the food master in we were doing some sort of fine dining. And we came together it was an interesting time, right. Everybody was feeling very connected to each other and we were so lucky to meet, I feel like we are so lucky to meet.
The serendipitous nature of even getting us into the same room is amazing that story. But we started today and met. And once we met, we started to date and got married two years later. But here’s the thing, like, the restaurant industry is not the greatest place to raise a family. We knew that was coming. And we both went, well, who wants to work noon to midnight, seven days a week. It’s a tough life.
So we kind of were really trying to figure out kind of what’s life going to look like for us, and we started pursuing other things. So as kids came, and obviously, I took on the lion’s share of having kids and Russell doing other things. So Russ, why don’t you talk about kind of like what you were doing during that time?
Russel Stone: Yeah, so I went to, I had a business degree from in college, but I knew that I wasn’t ready to just go back and work in the family business or do something that was expected of me. So right out of college I went out to Colorado and lived in steamboat springs for a few years, really explored living the ski bum life that was a lot. But I knew that it was sort of living on vacation and needed to do something else.
I was skiing during the day and was a prep cook at night just getting just doing what you were doing as a ski bum. I really fell in love with cooking and it was an outlet for me, a creative outlet for me that I had but wasn’t able to really put out there so really something that I fell in love with.
It took me to move back home I went to culinary school and worked in a few restaurants and finally was working in the restaurant where I was fortunate enough to meet Shelly. And it was a crazy time as a great creative outlet that I miss fortunately I still cook at home and I still cook for the family.
Shelly Stone: Lucky me.
Russel Stone: Yeah, five, six days a week. And I still love it, you still think about food and we watch food shows. So food is such a big part of our life and just sort of serving people was always ingrained in us. So it was a lot of fun and creative spark for us–
Sonia Gomez: Let me ask you a quick question. You mentioned a business degree and then you mentioned family business, do you come from the backgrounds of entrepreneurs?
Russel Stone: My father really was a, you know, a mentor, and he still is he really was a rag to riches type story. He’s often they let me hear well for himself, but they grew up with nothing. And he just really man paid his way through college and law school and had family and just kept building businesses and was sort of–
Sonia Gomez: All different businesses or one in particular?
Russel Stone: So he was a CPA by trade. And he was he came up with a business term called syndication. So he really was a pioneer in the 80s with real estate in putting deals together and financing it through investors and really creating value for those for his investors.
And so I remember at an early age, I think I was second grade it was you bring your dad to school. And I think I told everyone he was an accountant. And I, he said, I’m not an accountant. I said I thought you’re an accountant, like, well, I am. But I’m an entrepreneur. And so that word resonated with me at a, at a young age. I’m like, okay, what’s an entrepreneur and I think he explained it, and Okay, that sounds great, but I don’t know what I really knew in at eight years old.
It stayed with me that I knew he was an entrepreneur. So he had this family– He created a family business, in a sense, because he was always looking at investments. When we were in the kitchen and I was looking Sarah Wilson start raising a family, I was fortunate to now come and help take a piece of that family business because they were divesting themselves of some larger assets. And I said, well, let’s sort of look at more of a diversified portfolio.
So I had exposure, I brought exposure to venture capital, really innovative businesses, consumer packaged goods, real estate, and a zero-emissions waste to energy company that sparked our desire to do sustainable investing and to do investments with companies that had sort of a higher good and to serve the global community and two people–
Shelly Stone: It was a better moral alignment. We wanted to be morally aligned with the earth, we want to be morally aligned with doing good versus not doing good. So that was really something that took hold in our lives that business was a big part of what we’ve kind of took a right turn when we’ve got involved with that business.
We wanted to be morally aligned with the earth and with doing good versus not doing good. - Shelly Stone Click To Tweet
Certainly, Russell’s involved in it, we really resonated and this was like, this was a while ago. I mean, it was probably, I don’t know, 14 years ago. And so people weren’t talking about being green, and we’re talking about saving our 14 years ago, that conversation wasn’t happening as much so it was definitely I was the one talking about, like, all this different waste recycling and, you know, just recycling in general and how to live sort of greener and people were like, Huh?
Sonia Gomez: Yeah, it wasn’t yet like a fab it wasn’t a trend.
Shelly Stone: And it wasn’t in the collective lexicon, that’s for sure. So, we were kind of early on in that and that sort of changed our lives. It changed our direction, I should say.
Translating into a CBD Business
Sonia Gomez: Yeah. Awesome. Love ya. I love that. I love hearing that my husband’s very much in a similar sense where like his grandfather invented bob twisted bob wire and his family is pretty significant players in the mineral and gas industry. His stepfather has taken two companies public in the healthcare system.
So entrepreneurialism and the rags to riches and how you build and maintain legacy wealth right? Or the idea that you are supposed to do what you are expected to do as a member of the family and the resistance that one might feel, especially the 90’s, 2000’s that was definitely a time to like gain independence. Whereas 60’s, 70’s, 80’s people were still like, Okay, I’m going to go to Taft, and then I’m going to go to Princeton and, you know, it was like, still very much laid out for you and what you were going to do, but this idea this, like flavor of freedom that people were going to pursue, just like yourself, my husband left his beautiful affluent, well respected, recognized alumni family, and ditched out to the humble and stay there for 20 years, so and that’s where I met them at where I met him was out in California where I was born and raised and my upbringing is the complete opposite. I’m like a minority from the other side of the tracks whose parents were hippies and raised me like with Native American Indians, and it was I have an incredible story and upbringing, but certainly not the American dream that my husband was raised in.
So I asked because it’s interesting how no matter how bad we fight against what we come from, we always end up back there in some capacity, but our own version of it that is more in alignment with like, who we are morally and so forth. So how did investing and portfolio diversification and sustainable living and all of that stuff translate into a CBD business?
Russel Stone: Well, again, after the waste of energy company, one of our sister companies was approached to help them with an electronic cigarette business and then that point it was late 2009-2010, a whole electronic cigarette industry was beginning. So I looked at it and they said is this something we want to do? And at the time, it was really intending to help people stop smoking. Yeah. And that’s how what we stepped into thinking, Okay, can we help people while creating this business? So we quickly grew.
We were distributed into Walgreens into Walmart. We were cross every store in the country and it was a fast three years. Yeah, it was really blurred so it exposed us to that industry. But as we saw some of the trends train change, and an adolescent use was on the rise and sort of the intentions that we started four wasn’t there anymore, and it wasn’t aligned. Like Shelley said–
Sonia Gomez: There was like vape competition like you can blow the biggest clouds and pop culture grabbed it by then.
Russel Stone: We’re still a mom and pop you know, a small company which we against big tobacco was coming in and so real lot of synergies to the CBD industry. So, fortunately, we were able to sell the company in 2014 and at the same time as recreational laws were changing in Colorado. So I was approached to help a medical marijuana company, bring products to market because that’s really what I was enjoying at the time was helping these companies and seeing how we can bring different products to market. So yeah, we were looking for an excuse to leave Chicago and Colorado called I think we thought we’re going to go to the beach but the mountains called first.
Shelly Stone: During that time it was interesting, I went and got a holistic nutrition degree. And I have spent last–all my adult life being a professional psychic and energy healer. So in the sort of metaphysical arts and also a guide and I would say mentor to those coming up in that area, how to build a solopreneur business around the metaphysical arts to coaching women mostly in that area.
So that all of that in our obsession with food like the line, our food obsession continues right because I’m working on holistic nutrition thing as our kids are kind of growing up and getting older, the whole energy work thing. And then Russell with the background and cooking, once he was working in consulting in the marijuana field, the company he was working for the kind of, it ended up some things happened. Some people beyond us sort of made the company sort of implode if you will.
Sonia Gomez: Yeah. Do I met was this company listed in the news?
Russel Stone: They really never got off the ground enough to– without naming names, I’m sure that there were riffs and garbage that laid out because of it unfortunately
Sonia Gomez: Like so many other companies, the unmentionables we like today
Shelly Stone: Yeah. There are and whatever, but we sat around and we went so what’s our next move? What do we want to do? And is it time to like fully do what something that’s 100. Russell had been consulting and working family business, I was sort of always in the background, guiding and giving advice and just being there for him and, and also being home with the kids kind of that backup support, but we would talk strategy every night. Is it finally time for us to like fully just do something together and that was to how TerraGold Plus was born.
Honestly, I went through the windshield of a car when I was 17 in a terrible car accident. I have never had surgery probably should have had like six. I shouldn’t say I’ve never had surgery. I’ve had surgery twice on my jaw but never on my back. I have back pain every day serious like spinal cord damage from that well and at the time kids were kind of littler-ish getting bigger.
And I was starting to do the mommy drive right the mommy taxi cab of like, they have to go to school they have to go to after school activities and it was hard to be take THC because I was always needing to be behind the wheel we needed to couple that on top of Russell was diagnosed with an eye disease and going blind.
Sonia Gomez: So diagnosed with an eye disease whilst we are challenged with this incredible back pain from being ejected out of a vehicle that sounds awful. And what was the eye disease?
Russel Stone: So I am my brother both suffer from a degenerative eye disease called retinitis pigmentosa. So we are slowly losing our vision. I’d like to say slowly, but it seems to be going a lot faster than I thought,
Sonia Gomez: My gosh, I have to introduce you to somebody who can help.
Russel Stone: Like I wasn’t very involved in different charity organizations and so but I appreciate any help that you can support. And it was it’s still a very hard thing. So we were looking to well, what’s a business that we can do? Where I don’t have to be dependent on getting out? We’re living in Colorado, so we have all the resources at our disposal for this CBD business. I was already bringing products to market so I had some great manufacturers, the technology just continued to get better. And we knew that our story wasn’t really different, maybe I disease versus something else.
Everybody has something that brings from and we wanted to do what we could to help them and a lot of the opiates and other pharmaceuticals weren’t necessarily going to help and they weren’t helping the back pain. They weren’t helping our partner when he took a table saw through his hand. Yeah–
Shelly Stone: He does construction work part-time and loves building and he literally ran his hand through a table saw. And again, it’s back to that pain. Yeah, I made the same face so many times. I remember, slicing through 10 pins. I mean, he sliced right through his hand. And so, again, it’s back to that painting. The minute the hemp revolution started. And I don’t want to say started because we all know the hemp revolution has been happening for thousands of years.
The minute CBD came out, I was like, that is my answer. I was able to be so much more effective. - Shelly Stone Click To Tweet
Sonia Gomez: I mean, it’s just —
Shelly Stone: When this current sort of hemp revolution started and I saw the CBD. The minute CBD came out, I was like, that is my answer. I was able to be so much more effective. When you release pain from your body you can think clearly you’re so much more productive in life. And I saw my productivity and my pain, my pain reduced, my productivity increased. And I was like, this is a miracle. I had to scream from the rooftops.
Sonia Gomez: Yes. Awesome. And so that was sort of in this like, what are we going to do? Oh, someone chopped their handoff. I can’t see him. My back hurts. Let’s dive into CBD. sounds logical to me. I’m in. I wouldn’t be on that bandwagon like Good grief. No explanation is necessary. Okay, so TerraGold plus is born, tell me about your guys’ product suite, what kind of products did you guys develop?
Main Products from TerraGold Plus
Russel Stone: So we have a full range of products that I think our biggest differentiation is we have a transdermal patch. And this is really for people with back pain. It’s been a lifesaver for us. We travel, we try to get on the road most of the summer. And I could say that each day of the summer I’m probably putting a patch on because you’re constantly in movement is not just for athletes, but it would be great for just anyone who’s trying to bring the inflammation down that wants to keep moving.
So that’s one of our main products but at the same time, we stand behind our tinctures we have extra strength tincture and tincture cinnamon, as well as soft gels and a body balm that is a roll-on applied like a deodorant style and you can get really to targeted pain points. It’s all-natural full spectrum and we–it’s been a great run, Shelly and I both work on developing products and we’re always looking to develop more.
Facing Challenges in the Canna and Hemp Space
Sonia Gomez: So Fine, I love that. Okay, I’m going to dive into some stuff here because, for the budding entrepreneurs and even the business existing business owners, for you guys out there who are purchasing CBD products, it’s important for you to know that we are over here bleeding on your behalf. No, I’m just kidding. But there’s a lot of trials and tribulations that come along with starting, growing, building, you know, scaling a company that is in the cannabis and hemp space. What were some of the challenges that you guys face that you weren’t necessarily expecting?
Shelly Stone: I am going to start with that one because I think the biggest challenge that we currently face and beginning to today is this whole like being frozen out of sorts traditional advertising.
Sonia Gomez: Yes, marketing and advertising.
Shelly Stone: It’s bananas. With a lot of marketing background, I’m like this, why can’t we just treat this? Like everything else that’s out? So for us, that is a huge frustration. It’s a bit of, I feel like I bang my head on a brick wall, like every day pretty much. But that forces creativity, it forces you to think out of the box, it forces you to sort of reevaluate how you communicate and ways to communicate and kind of going old school on some things.
And so there’s still lots of ways to market and advertise and there are lots of restrictions. So I feel like a snake that squirms between the rules, the regulations, the unspoken/spoken. So we are always trying to innovate on how to get the word out how to just be a regular company. Honestly, I just try to advertise and market as a regular company. So it takes a little Bob and Lehman.
Sonia Gomez: Yeah, totally marketing and advertising is something I hear so often, especially on social media platforms or any other major search engines. It’s really, really tough. I’ll speak more to that here in a minute. How about you?
Russel Stone: There’s probably so many with this industry that is being can you come from a core business background that you think oh, we’ll just plug and play? Get them with these distributors and you’ll do that and it just wasn’t that simple. Again, with the electronic cigarette industry, there was so many synergies to this in terms of what you’re allowed. I remember having our merchant processor shut us down one night, and thinking okay, well, I’ve navigated that before.
This should be easy not to know how crazy the merchant processing industry was going to be for CBD and it’s a constant, you go going to sleep at night going, alright, do I is this stable? Am I going to be able to continue to process orders? So we’ve gone through a few merchant processors, one of the big things is also navigating the players in this industry. And I don’t want to belittle anyone or talk negatively, but it was really hard to navigate the real people in this industry.
There’s a lot of bullshit, and there continues to be a lot of bullshit. It’s not as bad as it was originally, where everybody had a was selling and maybe didn’t have anything to sell. But navigating the supply chain and navigating the manufacturers, it’s taken us a lot of years to have, like a core manufacturing facility that’s GMP certified and all the ideas ISO certification that you need because, again, it was just I was felt dirty after talking to some of these people because it just nobody ever did what they said. And so a lot of getting– navigating that was really tricky on the front end and now getting past that. Okay, what’s the next hurdle in this?
Shelly talked about advertising and marketing and trying to gain traffic the right way. Because we– [inaudible] is not what we want to do., we’re really trying to speak to our collective tribe of people that can resonate with us and our brand. We’re trying to do it the– I won’t say the ethical, but definitely the way that we can resonate with our people.
Sonia Gomez: Well, what it sounds like is that you’re willing to take the time and put forth the effort that it takes to build organically rather than the pay to play model, which is still not a bad model, and then when you look at how companies approach growth, they’re doing it, through strategic partnerships and alliances who are solving specific problems and can accelerate growth, that present that comes with its own set of challenges.
There’s also the pay to play model where you can buy someone’s list and you can buy someone’s following and you’re putting out a ton of money without any unforeseen like, when are you going to get the ROI for the output of investment, and then you can grow organically, which by the way, is the slow boat to China, but it’s also the most sustainable way to do it if you’re playing a long game, right?
It’s if you build that tribe if you build that following and you truly get to craft and develop and manipulate your message to market match, and really leveraging your following as a focus group to bring more value to how you’re evolving your company like that’s a perfect synergistic, you know, marriage in your business. That’s how we’ve done it.
I mean, what I took three years to build, I’m only now monetizing, and in the third year, and it was like all investment of time of money of relationships, versus all put towards building the following, but three years later, I’m able to generate multiple, six figures than in multiple revenue streams from one tribe or one company. So it’s, it’s a pretty interesting thing.
We’ve definitely considered like what would it have been like if we threw some gas on the charcoals? A couple of years? Because he really have to take a look at that, like, how much time can you afford to build organically and at what point do you need to throw kerosene onto the coal to turn it into a flame just so you can burn your way through that next leg of forests there.
So definitely some interesting considerations, knowing what you know now in getting through and getting over these hurdles, which by the way, they always tend to show up again in this industry, you notice that you’re like, oh, finally, we got a bag and a merchant processor who will process for us and then like, three weeks later, they’re like, oh, sorry about that our fees are actually twice as much as we promised. And I’m like, I’m gonna need some CBD coffee. Where’s the CBD wine?
Yeah, it’s ugly. It’s definitely a tough one. So I have to ask and in our segment, we do something called the words of wisdom and I’d love to hear directly from you guys. What are some key pieces of advice that you could offer knowing what you know now about the industry and running– How long have you guys been in business?
Shelly Stone: It’ll be two years– the doors have been open two years on January 1st, just shy that two-year mark doors open. We worked on it for about three years prior. We were five years invested.
Sonia Gomez: Yay. Okay, and are you guys a brick and mortar store primarily doing online?
Shelly Stone: We have an online home.
Tips and Tricks on How Budding Entrepreneurs Navigate Trials
Sonia Gomez: Okay, amazing. So knowing what you know now about building a CBD, eCommerce company and community, what would you or could you say or offer to budding entrepreneurs or people who are already in business and are looking for some tips and tricks on how to navigate their way through their own trials and tribulations?
Shelly Stone: One of the things that I would say and I can’t wait to hear what Russell has to say, but one of the things that I would say is, don’t forget that there is a huge, not only is there a financial investment that it takes place, but a time investment and I highly recommend people still carry a bridge job that don’t ask this to pay you right away. I could– generally, it won’t and you can fall in your face unless you have a pile of money to live off, whatever you know unless there’s something– but I think a bridge job takes the pressure off of this build because it is such a build.
It’s such a mountain climb to get to even to a sustainable place. That owning the fact that you have a bridge job and this is a side hustle for a while and however long a while I think it’s different for everybody and ways to skin a cat.
But I think that there’s no shame in like either the day job, the nine to five or some whether you’re tending bar working at the local coffee shop or whatever it is, to be able to like, be real and about the money because the money it takes time, it does take time because there is a financial outlay and an energy-time outlay. So just owning that, I think that I wish I would have known that.
I mean, we were lucky to have a portfolio of investments. So we had other things, but I’ve seen other people really fall hard. And because they sort of expected a fat paycheck within three months, three months, I wish, right? That’s sort of how it works. Right? And you even said, three years, it took you three years to monetize.
So I think there’s some people forget that just forget it. There is a build involved. And so that’s my advice is to just like own that. It’s this is a side hustle first, and then it becomes like you can eventually flip it. Yeah, Russ, I’d love to hear yours.
Russel Stone: Yeah, I’m really want to put some thought into this is what would we have done differently? Because at that point, I’d say well, it’s not too late to do some of the things that we probably thought of originally, but I think one thing that– I think that bogs people down and young entrepreneurs, they’re trying to find every answer right off the bat and there’s a paralysis by analysis. Sometimes getting to 80% of the idea or 80% of the information can be good enough. And just get up just start it.
Put yourself out there and start understanding behaviors and understanding how people are going to respond to whatever you’re trying to sell whatever that product is, whether it’s a tangible product or a service, sometimes just testing it and people get nervous, scared to put themselves out there. So it’s there’s a lot of leap of faith, but having almost enough information sometimes is enough. And we certainly and I will say we, me, gets bogged down by that quite often where I’m waiting for every bit of information if I compared it to everything and a month has gone by where we would have started this a while ago, we would have been 30 days already looking back. So what it did this makes sense or what could we have done differently.
Sonia Gomez: Man guys, those are good ones. Those are really good ones I’m like, Yes, I’m so into it praise because I think you approached it in a really, really great way and saying like looking back, what would we have done differently. And then I also love, Shelly, what you said, I think it’s just so important to look at things exactly where you are and building a plan to move forward from that place. So I’m going to if you have, do you have any addition that you want to put on that before I throw my two cents on the back of that?
Shelly Stone: Oh, no, tell us I want to hear.
Sonia Gomez: All right. So I’m going to literally just piggyback off of what you just said, and in these segments of words to wisdom for those of you guys who are listening, it’s super important just jot down some notes. You never know what key piece of it is going to come from me or the other entrepreneur, fellow entrepreneurs that you are listening to in our show today. And one of the most powerful things that I have ever invested my time and money into is mentorship.
And so I always wanted this segment of the show to act as a virtual mentorship to just give you some insight and direction on people who have like bleeding it out, fighting it out. Maybe we’re a little bit further ahead, or maybe we’re a little bit behind wherever you are right now in your journey. And I want these words, two words of wisdom to be a part of weaving and shaping your fabric right now.
So I am going to second what Shelly said and say that strategic planning is so important and really, really taking the time that it takes, in fact, to plan what it is that you are wanting to do, be or have. Okay, or vice versa, how whatever you want to be, do and have, whatever word or you want to put it in, it’s so important to properly and honestly gauge what resources, what relationships, what assets do you have to work with because this is such an incredibly forward intensive investment that you have to make.
There are two different types of investment, your investment of time, and investment of money. And the investment of money can be fleeting. You never know what the regulations are going to be. You’re never done investing. There’s always one more revision or one more change or one more license that you have to invest in.
The same thing with hemp, you’ll never know when you will have to put more resources forth in order to get to that next leg. It’s extremely competitive. So much, it’s just changed in the last couple of days on combined THC versus Delta nine or the THC. I mean, all of these different things play a role and what you are able to do as a business owner. So really understanding what you have to invest both time and money.
Know what your breaking point is to no reason to push yourself self past the point of breaking where you’re like, tail between your legs, chin to your chest, head down, like make your decisions with pride, be an adult about it and be responsible. If you need to take on outside capital, create the conditions of success and develop the relationships and opportunities that are going to get other people invested in your vision. But really give yourself a clear and honest picture of what it is you have to work with and then figure out how to put those things in the right order.
Make your decisions with pride, be an adult about it and be responsible. - Sonia Gomez Click To Tweet
And I love Shelly that you said you know have a bridge job have something that allows you to cultivate the revenue that will either cover your bottom line or act as a bonus investment for your passion project that you are trying to get off the ground.
The second thing that I absolutely love that you said Russell was 80% on planning 20% on execution, you don’t know what you don’t know and you don’t know what you don’t know until you try. Okay? But trying to be an analogy, getting into yourself into analysis paralysis, watching what everybody else is doing and then trying to do that too. Don’t be a me-too product, you have a real opportunity to create something that is individual and independent of what anyone else is doing.
The good news is since like, I don’t know 1900 there are hardly any new ideas. Okay. Everything is just being innovated. So you got to figure out what thing you’re most passionate about and innovate that thing.
Money is not going to solve your problems. Perseverance, commitment and dedication are going to solve your problems. - Sonia Gomez Click To Tweet
The final thing that I will share is “Mo Money, Mo Problems”. Money is not going to solve your problems perseverance, commitment and dedication are going to solve your problems. You don’t know what you’re getting into until you’re already into it and you can’t look back wishing and hoping that you would have done it differently. You can only look forward and learn how to put the stepping stones from the past ahead of you to make further ground moving forward is so so important for you guys. Not to overthink but to keep things in motion, the minute that you allow yourself to freeze, because you’re afraid or freeze because you don’t know what to do. Seek outside mentorship. Listen to these podcasts. Listen to the words of wisdom, find folks that you can align yourself with and ask the question, what can I bring not what can I take.
When you get yourself into those types of situations, no matter if you have to CBD prams in the same place or whatever, it comes with a collaborative mindset bring value and value will come to you to move you past those points of discomfort and what you feel like could and might be the end. The good news is, is that there’s always more to do and you just have to be realistic about the resources and relationships, you have to get to that next phase.
So those are my words of wisdom to pair on to what you guys already said. I thought what you guys said was fantastic. And it’s actually the first time that I’ve heard an entrepreneur in this space, say like, get yourself a job or don’t stop when you feel you know, don’t get into analysis paralysis. It’s the first time I’ve heard somebody else say it. I feel like I’m always preaching on it. But–
Shelly Stone: I will tell you, I’ve said this, I coaching other people. I have said, you know, until your business that you’re building can pay you double what you make in that day job, average job, whatever it is to cover yourself, double every single month because the reality is, is there’s a roller coaster of sales and income and there’s a roller coaster of you can’t predict, let’s say when news breaks or things that affect the industry, as things sort of roll, right, you’ve got to be able to roll with it. So just because you had a good month, does not mean you’re going to have all the good months ahead.
So really, don’t think it’s one I try and say it’s like a whole year, a full year of like, have you made double in that business you’re building whatever it is, be it cannabis or CBD or any business even. Are you making double every single month for 12 full months, then yeah, you probably have some security involved. You might have some security of growth within and you can release that bridge, job day job, whatever. So it’s really I don’t know, I just think that it’s a roller coaster. It’s a roller coaster ride the waves and have this security so that there isn’t a panic.
Sonia Gomez: God is so smart. It’s so so smart. I, I think there’s a misconception with entrepreneurs that they believe if they’re not just working in their business, I was confronted with this and even still, sometimes I think to myself, like what, fuck this, I’m going to go get a job.
Get a job so that it’s somebody else’s responsibility to pay me what I’m worth. And then I can just define what I’m worth, and I don’t have to freaking battle it out every day on behalf of my own damn self. Like, I can go to work and bad pants and an ugly shirt, and someone else can judge me but I can still do my work and I’ll get paid on Friday. But like if I don’t show up for myself, in my own business, I’m fucked. I’m like, Oh my God.
I have to show up every day as the boss and the boss always has to be on par. You know what I mean? So there’s a luxury by the way guys, even if you are an entrepreneur, there’s a luxury to have a job and creating that stability and to put your time and effort to make sure that it’s something that you’re passionate about and that feeds another need inside of you to there’s no shame in your game boy, get your paper.
That’s what I’m saying. Like go out there and get your money and feel really proud about what you’re doing because building your dream takes resources, time, money, energy, passion, purpose, like all of these different things is what it requires to be profitable in buckets, hard to do that every day, every single day by yourself.
So I don’t think there’s any shame whatsoever and having a job and really creating sustainability and when you have a really great month that makes you feel like you can quit everything and that you’re on your way to being the next Bill Gates, like amazing.
Extract the information that and metrics necessary to see like what happened in that month that made it possible for you to hit those milestones and do more of that. Do it again and do it again and do it again until you break it, and then figure out what broke it and then fix it.
Russel Stone: And that’s a good point is having those measurables because not everyone always can have the metrics to say, well, what worked and what didn’t work. And if you do so many different things, you may not know which one actually works. So having really measured tasks and measured goals, then you have that opportunity to really look back in hindsight and say, well, that worked or that certainly didn’t, and understand, okay, let’s spend more time doing the stuff that does work.
Sonia Gomez: Totally. I follow along with a man Roger James Hamilton and he wrote a book called The Millionaire Master Plan. And he uses like 5,000 years that the E-chain and eastern philosophy paired with modern-day business ownership and has created these entrepreneurial profiles to sort of say like, Okay, this is your strength, this is the role in your business that you should be doing.
So I’ve been following this and there’s an aspect of my personality. Certainly, my husband, he’s like a total creator, he just creates and creates and creates all the time. And if we have a problem, he creates something else that doesn’t have a problem yet. And my mentor told me, Hey, we sat down and I was like, I’m over here frustrated, because whatever role I’m playing in my company, and James is feeling like I’ve done all the right things. What’s the problem here?
And my mentor just listened to us and he’s also in partnership with his life. And he just looked at us and he was just like, sometimes as creators we create new problems just so we don’t have to face whatever is happening in our existing and you just create your way into more shit. While you’re supposed to be dealing with the shit that you already have. And me and James looked at each other.
We were like, that’s not us. But it totally is. It totally is as that like, and then so many other people that when they get faced with a set of challenges, they don’t have the metrics to measure or extract, how we’re why or who or whatever is responsible for creating the current situation. You’re just like, okay, fuck that we’ll just do something new instead. And that seems easier because it’s a blank slate when in fact, like the problems follow the creator who’s creating them, right? So that’s it was just a funny story.
And I laugh even still now remembering it, because every day, there’s a new challenge and my husband and I will sit down, you know, we’ll be having our coffee and we talking about all right, like, how are we going to fix this one today? And he’s like, he’ll just try and create something new. And I’m like, no, we’re not creating more. We’re getting metrics on why we have the current
Shelly Stone: Creative are futurists and they’re always forward. They have no interest, they just add on to the next thing. Yeah, creators are forward thinkers.
Where to Find Them
Sonia Gomez: So funny. Where can people find you if they want to check out your guys’ products?
Shelly Stone: An online home they are welcome to come visit us there is terragoldplus.com. All social media channels we do Facebook, Instagram and Pinterest at TerraGold Plus. So you can find us it’s pretty easy to find us.
Sonia Gomez: Okay, amazing! And for those of you guys who are tuning in all of our social handles and all of the website information for TerraGold Plus will be posted right here inside of the blog along with the show notes and the highlights from today’s interviews. Guys, thank you so much for your time for your insight and for sharing your story here with us super incredible. Any last words from either one or both before we end today’s episode?
Russel Stone: What could be some good words? I think we really just love this industry. We love the people within it and supporting the larger community. I think we you know, hearing from people and hearing their stories of success or their needs is really fun to us is because it really pushes our board to help bring more products to them, or tweaking ourselves to do better. So it’s really been a fun journey.
Sonia Gomez: Love that.
Shelly Stone: Yeah and I have to say, not giving up, put your head down and keep going. You can do it. Anybody can do it. In this business, it’s a great industry. It is growing, and it’s going to blow up.
Sonia Gomez: Yay! love that. Well, thank you guys again, so much for sharing your guys’ story. It’s incredible, can’t wait to share it with our community. And for those of you guys who are listening, thank you so much for being a part of this growing community with The Hemp Revolution podcast. It is our mission, in fact, to bring you guys the stories and share the journeys of the entrepreneurs and the people who are pushing this incredible movement forward.
It is our mission here at The Hemp Revolution podcast to share the truth about cannabis, hemp, CBD and all of the transformations that are possible while you’re building a business and transforming the way that you feel and function totally naturally every single day. I’m your host with the most, Sonia Gomez and this is The Hemp Revolution. We’ll see you on our next show, guys.
Thanks for listening to another rockstar episode of the hemp revolution podcast. I’m your host Sonia Gomez. And just for you, we took notes on this episode along with the links and other resources mentioned inside of today’s show. Get them for free right now by going to theemeraldcircle.com.
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