The Pyramid Scheme

The Business of Community Summit is a one-day virtual summit focused exclusively on the business thinking, decisions, and strategies needed to reach the economic potential of community for your business. You'll walk away with a clear roadmap for launching your own community this year! Visit SmartPassiveIncome.com/BCS to register for free.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#008 Disclaimer: the interview in this episode contains some explicit language.Back when we were doing the research for the show, we stumbled on something pertinent . . . The Museum of Failure. It's a touring exhibit that touts a collection of (you guessed it) failed products. And the stories behind these failures are absolutely fascinating. Well, today's guest is none other than the director of the Museum of Failure himself, Dr. Samuel West! What follows is an in-depth interview with Dr. Samuel West on everything from his selection criteria for the museum, the deeply human side of failed products, the time Procter & Gamble tried to rebrand diarrhea, and (sorry, Pat) why the DeLorean has its place firmly in the museum. Show notes and more at SmartPassiveIncome.com/flopsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#007 Growing up, many of us are encouraged to follow our passion in the hopes of finding a career or life path that we will love. But what happens when passion isn't enough? Sasha Korobov spent years working for NASA and left to move to England to get her masters degree. After the 2016 U.S. election, she was inspired to fight for causes bigger than herself, and after a late night revelation, decided to build a business to help others do the same. She quickly built a business geared towards helping activists find and lobby for causes they were enthusiastic about. But enthusiasm soon gave way to struggle. This episode is full of struggle, reckoning, and great advice. Do yourself a favor and grab a pen and paper because you're going to want to remember the secrets of the NASA nerds. Show notes and more at smartpassiveincome.com/flops.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#006 Tiffany Krumins was a contestant on the pilot episode of the wildly popular Shark Tank. And her product got picked up by one of the sharks! But, in Tiffany's words, ". . . when I got the funding on Shark Tank, I went home and was clueless . . . I didn't know anything about product development." We won't spoil what happened next and ultimately led to a failure, but we'll give you a clue: planograms. This episode is chock-full of learnings about the retail industry, what it takes to succeed, and Tiffany's advice for people who want to give it a shot. Show notes and more at SmartPassiveIncome.com/flopsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#005 Pianist and songwriter Jason Myers caught a big break. A few of them, in fact — but one was a huge opportunity, the kind of lucky chance you read about in a celebrity bio later down the road. But then . . . something happened that derailed all the dreams, plans, and excitement. The big break broke. How do you recover after building so much momentum, only to have one unfortunate event clamp the brakes on tight? How do you rebuild and sort through the ashes? Jason's here to divulge all of the details, including everything he learned through trial, tribulation, mentorship, and plain bad luck. It's a story with some key takeaways and wisdom for any listener, musician or not.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#004 Trudy Rankin spent 15 years in the corporate world, but despite the success she had, she found herself feeling unfulfilled. With a strong desire to serve and an innate entrepreneurial spirit, she finally struck out and started her own business, helping people with special needs find jobs and make money through online businesses.Everything was going well. Her business was consulting with a big-name international company to help build a program to support people with special needs, and everything seemed to be falling into place. Then, everything fell apart. What came next was a year of struggle and uncertainty, all because of one small, overlooked detail. Today, Trudy shares her story: the satisfaction of finding her passion, the unexpected downfall, and what it took to claw her way back to success. Despite all this, Trudy maintains an attitude of positivity and self-reliance that truly inspires.Find out more about Trudy and her business at westislanddigital.com, and her online course at onlinebusinessliftoff.com. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#003 Tina Cheesley had decided to take on something bigger, something she could turn into a cash cow and put her children through school with: converting a large house into a boutique hotel. Unfortunately, her timing happened to coincide with the Great Recession of 2008 — what followed was a downward spiral.Tina's here today to describe all of it in detail: the lessons learned, the aftermath, the guilt and shame, the reactions of her friends, how her daughters responded to the ordeal, and how she's rebuilding and redefining herself on the other side. Learn more about Flops at SmartPassiveIncome.com/flopsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#002 Colin Clapp and his partner, Elly, own a website and business called Parenting, Passports and Profits — it's all about helping parents and digital nomads live life by design. But it wasn't the first stab at business for Colin. In fact, years ago, Colin found himself at the helm of a business failure concerning fruit and vegetable delivery. It all started with a partnership with a stranger; he's here today to tell that story.In today's episode, host Karen Beattie chats one-on-one with Colin as he reveals the buildup to what he calls "the darkest day," its aftermath, and what he learned from the flop. As Colin himself says, failing in business doesn't "mark you" as a failure — it's part of the process. We're so thankful to Colin for being generous with his time and getting vulnerable for us behind the mic so that we can learn from his misadventure. Show notes and more at SmartPassiveIncome.com/flops.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#001 We're kicking things off on episode one with a story of broken friendships, hoodwinking, and what happened in the aftermath — the story of a big con. John Vuong was younger at the time and, to use his phrase, "chasing," when an opportunity to see some huge return on investment presented itself. The only problem? It was a little too good to be true, and John fell for it. What unfolded in the aftermath was nightmarish at best, but John walked away better for the experience — he has a few tips so that you don't make a similar mistake. Show notes and more at SmartPassiveIncome.com/flopsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Introducing Flops, a podcast where we talk to ambitious entrepreneurs about the failures—and rebounds—that shaped them who they are today. Their stories are full of ups and downs, run-arounds, and flat-out face plants, but also offer hope and redemption. Join Karen Beattie and Ray Sylvester of SPI Media as they dive head-first into the world of failure.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.