Mike Pollack. He sold his third business 6 years ago and has since, through trial and error, crafted a unique formula that balances happiness with a high likelihood of continued business success. In this episode, he shares this formula with us, delving into how to identify your true zone of competence, release control, and master the art of letting go.
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TIME STAMPS:
(00:00:00) Intro
(00:01:25) Welcome
(00:01:41) LinkedIn Profile of Mike
(00:02:24) Discussing Mike's identity
(00:03:18) Mike's experience after selling his business
(00:07:35) Mike's experience on exiting business
(00:10:10) Mike's perspective on initiating a startup
(00:11:01) Being a part of a startup team
(00:13:34) Traumatic experience of building a company
(00:18:52) Missing the entrepreneurial experience
(00:20:50) Discussions on Mike's new venture
(00:21:25) Two types of approaches to problem-solving
(00:24:03) Post-idea creation process
(00:27:07) Role of passion and motivation in entrepreneurship
(00:30:38) Trauma in starting a new venture
(00:33:36) Defining success in present day
(00:38:16) The journey from chasing status to chasing happiness
(00:41:35) Balancing entrepreneurship with parenthood
(00:42:22) Starting the M&A Process While Having a Newborn Baby
(00:43:34) Balancing Work and Life and Aiming for a Healthy Business Structure
(00:44:57) Striving for a Balanced Life while Building a Business
(00:47:43) Implementing Business Plan While Being Parents of Young Children
(00:49:31) Dealing With Wealth and Financial Success
(00:51:57) Utilising Wealth and Managing it With Responsibility
(00:53:37) Using Wealth to Accomplish Goals and Support Causes
(00:54:44) Experiencing Economic Anxiety and Addressing Guilt
(00:56:05) Being True to yourself, Leaving Things Better than Found, and Being a Good Human
(00:57:47) Using Means to Empower Others and Improve the World
(00:59:10) Integrity as a Core Value
(01:00:27) Balancing Parenthood and Founding a Company
(01:00:54) Working to Pay it Forward
(01:01:04) Entrepreneur's Approach and Zone of Genius
(01:01:55) Spirituality and its role
(01:04:58) Advice for a business post-sale
(01:08:01) The introspective work founders ought to do
(01:09:13) Shifting from identifying as a founder to a larger role
(01:14:05) The role of tech post-COVID
(01:18:34) Level of fulfillment
(01:20:09) Legacy and how to be remembered
