What is your area of expertise, who do you serve, and how do you serve them?
I teach entrepreneurs how to start, scale, enjoy, and exit their businesses. I specialize in helping entrepreneurs design a plan to transition from owner-operator to owner-investor, becoming an absentee owner, exiting their business without exiting. This provides them a passive income and allows them to go work on other passion projects while their original business continues to flourish and grow with the proper team and structure in place.
Why would someone choose you over a competitor?
You are looking for someone to help you get the results you truly want from your business. So, do you want someone who knows about it in theory or someone who is actually done it? I am already where I coach my clients to go. I built a nationally recognized multi-million dollar business from nothing and then exited without exiting, becoming an absentee owner who still gets paid every day and is now working on my passion project of coaching other people to do the same. If this is what you want, I’d be honored to work with you.
Share a specific time you encountered an obstacle and describe how you overcame it.
I did not set up my original partnership structure correctly. At first, it wasn’t a big deal, but over time this mistake I made in the first year of business ended up costing me $2.8 million. Once I recognized my mistake, it was extremely difficult to get it fixed, but I persevered and fixed it. Now I coach my clients to avoid this type of costly mistake.
Share a short story about your best (or favorite) case study.
I recently had a coaching client who came to me as a 50-50 partner in his business. The other 50% partner was not present in the daily operations and was not fulfilling his obligations as co-owner of the company. My client was the true founder and wanted to see his business flourish and grow, but his 50% partner was holding him back–mentally and financially. I worked with him over a period of about 90 days to negotiate a buy-out of his partner. Ultimately, he was able to get out of this partnership that was holding him back. Today his business is flourishing and growing at a rate that would’ve never happened under the bad partnership arrangement he had to begin with.
What advice would you give the “20-Year-Old-You” who’s eager to start in life?
The first thing you have to understand is that passion is overrated. It’s complete BS to “follow your passion”. There are so many dead broke and bankrupt entrepreneurs who followed their passion that it’s not funny. On the other hand, if you look at passion as “the willingness to endure or suffer for your business”, then that’s what you should pay attention to.
Passion actually means “willing to suffer or willing to endure”. Successful entrepreneurs–every single one I’ve ever interviewed–can illustrate their journey to success by their willingness to endure and suffer through difficult times. Sure, being excited about the product or service that you sell or the industry that you serve is nice, but that will not carry you through the dark valleys of entrepreneurship. You must possess true passion, which means you must be willing to endure. If you aren’t willing to endure for your business venture, you will never be successful.
Please describe a monumental time in your life that you’ll never forget.
In business terms, something I will never forget is the first time my company was named on the Inc 5000 list as one of the fastest-growing privately-held companies in the country. The joy and honor I felt as the founder of a company that made it to that place was so amazing. I hired some of the best people in the world who helped me grow an incredible company. That day we received the announcement was nothing short of extraordinary.