Brett Gelfand, a second-generation entrepreneur who successfully built and sold a cannabis company, shares invaluable insights from his journey alongside his father. They discuss the transformative impact of stepping away from fear-driven business decisions to embrace passion. Brett highlights the challenges and rewards of a family business dynamic, the influence of parents on entrepreneurship, and the importance of financial freedom for happiness. He also reflects on the personal growth gained through global travel and the shift towards mentoring aspiring entrepreneurs.
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question_answer ANECDOTE
Early Cannabis CEO Experience
Brett Gelfand became a CEO at age 24 in the cannabis industry early in his career.
He built his first cannabis business by solving industry problems, leading to further ventures in the space.
insights INSIGHT
Motivation Evolves Post-Exit
Motivation shifts from fear of loss to passion once financial security is achieved.
Helping other entrepreneurs and mentoring lights Brett up more than just building businesses.
question_answer ANECDOTE
Balancing Businesses Eases Exit
Brett balanced two businesses, so selling one wasn't a jump into the unknown.
This structure helped him avoid common exit emotional challenges like loneliness or loss.
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Brett Gelfand. A second-generation exited founder, he has successfully built and sold a company, just like his dad. Now, they're in business together. In this episode, Brett shares with us insights from both his and his father's post-exit experiences, the keys to successful business partnerships, finding love, and thriving as a digital nomad.
Timestamps:
00:01:00: The early journey into business and entrepreneurship
00:01:22: Entering the cannabis industry
00:01:56: Decision to avoid traditional nine-to-five job
00:02:44: Becoming CEO at age
00:03:26: The drive to solve problems in the industry
00:04:19: Change in motivation after business exit
00:06:12: Shifting from a fear-driven approach to a passion-driven one
00:08:20: Considering other industries and opportunities
00:10:51: Decision to sell first business and focus on another
00:11:25: Feeling after selling first business
00:14:34: Shifting perspective on money and success
00:16:15: Parents' influence on entrepreneurship journey
00:17:26: Starting a business with father
00:19:24: Challenge and benefit of working with a family member in business
00:21:01: Decision to go into business with father and learning through the process
00:22:38: Growing up in a business-oriented family
00:23:21: Impact of business partnership on personal relationships
00:24:58: Parents' reaction to business partnership
00:25:33: Impact of financial freedom on happiness
00:28:14: Experience of travel and luxury after financial security
00:29:11: Reflection on the journey of building and selling a business
00:31:35: Learning lessons from the entrepreneurial cycle
00:35:21: Experience and benefits of globetrotting
00:43:39: The role of therapy in personal growth
00:44:36: Lessons from a Life Coach
00:57:18: Transitioning from Entrepreneur to Family Man
01:02:57: Preparing for Parenthood
01:03:39: How Brett Wants to be Remembered
01:05:23: Entrepreneurship as Freedom
01:06:13: Discussing personal freedoms and lifestyle
01:07:35: Reflecting on retirement and the necessity of growth
01:08:22: The role of financial success in personal growth and risk-taking
01:09:41: Investment philosophy and financial strategy
01:11:39: Closing the discussion and expressing gratitude
Exit Paradox