Good Day all another For-purpose blog post, this one I stumbled on
was on Cole Hatter who is a professional
speaker and the owner of various for-purpose organisations. He
also has a podcast which I actually
think i would check out. He talks about his life struggles and
also how he got into doing this whole for purpose life mission. He
gives tips and tricks for not only how to start a for-purpose but
about public speaking and how to surround yourself with the people
you want in your life. So be sure to take in the podcast as well
as read what I gathered for you below. In addition I also did my
own audio analysis here on soundcloud if you wish to just listen
instead of read.

Here is the podcast link

Cole Hatter’s Background – 0:00
Going from Guilt to Glory – 14:49
What is a For-Purpose organisation – 17:38
Why does he think the for purpose model is more profitable – 20:39
How do people start a for purpose business – 24:35
So how did he get into being a speaking mercenary? – 28:56
How to surround yourself with people who are above you – 31:25 
What is thrive? – 38:15

Key Points

Cole Hatter’s Background.

Cole went through some very tragic events during his time on earth
that change the way he does things in life. He goes against the
grain compared to what everyone else is doing and has found life
to be better this way. He uses his ambition and enthusiasm and goes
all out in business and in life and this has resulted a lot of
success, money and a great family. Now his aim is to go out and
share this same message and strategy with the world.
Graduated Highschool and realized that the corporate world
was not suited for him. He wanted to do something that he could
see a measurable difference in his world through his actions. This
notion led him to becoming a firefighter. All was well since being
a firefighter resonated with his want to help people, until the
day he and two friends (Steve and Matt) got in a serious car
accident. He and his best friend steve were ejected from the car
and carried to the hospital where Steve died later.
Grieving, Guilt and another one Gone – After the death of
their friend Steve, Cole and Matt felt guilty about the loss. Matt
saw that Cole was going into a deep depression and as a way to
cheer him up he suggested they go out into the desert and ride
dirt bikes as a way to get their mind off things. While biking out
in the desert Matt fell into a mine shaft hole and died, Cole
nearly fell in as well but was saved by a shrub and Scott who
pulled him back out. This was just 2 months after the death of
Steve. In both incidents Cole was lucky to have survived. The
grief was so much that he used to take his meds to ease the still
ongoing pain from his car accident with hard liquor and pass out
as to not be conscious of the current state of his life. His
friends all took turns carrying him around the house to use the
washroom, to eat etc. This went on for a month till he got his Aha
moment and everything changed for the better, he now had a new
vigor and reason to live.

Going from Guilt to Glory.

Guilt was still looming over Cole, he was still popping pills and
taking the hard liquor to pass out. One day he was cursing God and
ranting out loud alone in his house, asking why they were stolen
from him and he still got to live. Then it clicked, he thought
instead of being sorry for himself that he would live a life of
purpose so that both Steve and Matt deaths would not be in vain.
He aimed to live a life of three instead of one so when he meets
them again they can be proud of their legacy. He began a non
profit and realized quick that they are not profitable and he
needed to make money. He took his ambitions and enthusiasm along
with learning about entrepreneurship and began earning a lot of
money, losing a lot of money but ending up on top.

What is a For-Purpose organisation.

Adam Braun of Pencils of purpose is
a for purpose organisation, it more or less means you make money
while you are making a difference in life. Design your business
model around a purpose while you remain highly profitable, but the
structure of either how its being run or what you do with the
product or service is to benefit others while benefiting yourself.
Aim to make a wake of purposeful profits where in the end the
money made from sales also is accompanied by the feeling of
knowing that you helped someone in need. Cole entered the world of
real estate investing and quickly made a fricking killing then the
economy turned and he quickly got killed. Although he was being
thrifty with his earnings, he was also helping out friends here
and there, he went to africa for 3 weeks and help out there and
also in south america. After picking up a trend of earning money
then giving it away to charity picked up steam he realized that
the feeling from giving far out weighed the feeling of the earning
a ton. This made him take a step back to reevaluate how he can
bring the two together, which changed him into being a
philanthropic entrepreneur. He also claims that this model has
made much more money than the traditional way of just being a
business making money.

Why does he think the for purpose model is more profitable.

Cole uses Toms shoes as an example which has
made billions selling shoes on the one for one concept. Blake Mycoskie  the founder
of Toms shoes created a way that the cost to give away the other
pair of shoes to someone in need is already being compensated for
in the payment from the customer. Building a brand where you as
the customer know you would be helping someone in need in someway
gives you more incentive to purchase the item even if it may cost
a bit more. This is a great way to distinguish yourself in a very
noisy market place. Having a competitive edge over your rivals
will help more than it can than ever before. So why not have a
meaningful movement behind your brand to influence your customers
to support you. Ensure to build within the product or service the
buffer you need to give that resource or money away. An example of
this is Sevenly by Dale Partridge who adds 7 dollars to every
product he sells so that he can donate that amount to charity per
item. Build your business around a give component, Cole guarantees
that not only you would distinguish yourself from the market but
at the end of every year you would feel great about how much you
have given away to your cause.

How do people start a for purpose business.

1) Decide that this matters to you and you don’t want to be a for
profit organisation running on greed. If everyone loves what you
are doing then you don’t stand for anything.
2) Find a cause or initiative that resonates with you and ensure
that what you are donating towards is making a measurable
difference. For example if there is a group that is buying food
for the homeless instead of just cutting a check you can go to the
grocery buy the groceries and compile them in customizable bags
which contain equal amounts of various items and personal give
them out. Hang out with them give them more than just the physical
item, give them your time, have a meaningful conversation with
3) Design a business that funds that initiative, this can either
be directly giving away the product in need like TOMS or directly
giving away money like sevenly does. One of Cole’s friend has a
organization where he only hires army vets or so-called people who
are deemed unemployable because of PTSD.
4) Understand how to brand your product so that you can
distinguish yourself in a noisy market while providing more than
your competition. Even if you are not taking a significant market
share at the moment with your sales due to loss, you still didn’t
lose because you changed people lives, so consider that an
investment of buying happiness.

So how did he get into being a speaking mercenary.

Being able to Articulate your thoughts along with incorporating
sales language in a versatile manner is valuable skill in today’s
world. If you are able to speak in a way to win over the listener
into what you are selling, (be it an idea, a product, a service
etc) it will bring you a lot of profitable opportunities. The
ability to move people to action is key when selling. Cole said he
learnt from the great Tony Robbins
who is a motivational speaker, he didn’t really listen to what he
was saying but how he phrased, framing, looping his stories and
doing things in his talks. So immediately Cole began his R&D (Rip
off and Duplicating) on Tony and then took free speaking gigs.
Losing money along the way but he wanted to learn the skill so bad
that he took any small chances he could get once it gave him the
opportunity to refine the skill and get good at it. When he
thought he was good enough he began pitching for paid gigs but was
only allowed to do so if he is selling the clients product on
stage. You have to be knowledgeable about the topic for example
Cole spoke about real estate then would give a plug for the
product his client was selling and then would get a cut for every
product sold. He never speaks on stages about people or products
he doesn’t believe will help people or he can’t vouch for.

How to surround yourself with people who are above you.

To get their attention you need to be able to research or observe
everything they do or are interested in and find a way that you
can help them do whatever they do better. Try to think of every
avenue that you can simplify or improve something that they are
interested in. Then find a way to contact them, in this case Cole
found his email address and sent him 2 or 3 of the ideas every 3
or 4 days. He did this process for months until he got a response,
which booked him a meeting for an hour. I think of this as the
subliminal message technique, where you are in their head nearly
everyday so much so they give you an opportunity that you can’t
mess up.

What is thrive? 

It’s a seminar where various notable speakers will talking about
three different areas of interest.
1) How to make money.
2) How to protect your money.
3) How to make money matter.