The Learn-It-All Podcast 114: From Soviet Refugee to Completing Ironmans (How He Beat the Odds) | Steven Pivnik
Are you struggling to scale and exit your business while maintaining work-life balance?
In this episode of The Learn-It-All Podcast, you’ll hear how an immigrant entrepreneur built and sold a multi-million dollar company over 27 years while completing 17 Ironman races and preparing to climb Mount Everest.
Steven Pivnik, founder of Binary Tree and current business advisor, shares his journey from Soviet immigrant to successful tech entrepreneur. The conversation explores how his early experiences shaped his resilience, the parallels between endurance sports and entrepreneurship, and practical advice for business owners looking to scale and exit their companies.
This Episode Covers:
- The critical importance of measuring business metrics through KPIs, and how improved performance tracking led to company-wide improvements
- Why loyalty to early employees can hurt company growth, and how to make difficult personnel changes as your business scales
- How visualization techniques used in athletics can be applied to business success, including specific examples that led to Pivnik's successful exit
- The value of having "buttoned down" financials when preparing for an exit, with books closing within seven days of month-end
- Why preparing for an exit should start years in advance, including Pivnik's strategy of stepping away from CEO duties three years before the sale
- The power of learning from those who've "been there, done that" instead of paying the "dummy tax" of learning everything the hard way
Chapters:
(00:00) Introduction to Steven Pivnik – Damon introduces Steven, highlighting his inspiring story of immigration, entrepreneurship, and athletic achievements.
(01:30) Growing Up as an Immigrant – Steven shares his family’s journey from the Soviet Union to Brooklyn and the resilience he learned from their sacrifices.
(05:00) Turning Setbacks into Motivation – Steven reflects on how early challenges, including financial struggles and bullying, fueled his drive to succeed.
(09:00) Building Binary Tree – Steven discusses his entrepreneurial journey, including lessons learned from failed startups and the pivotal moments that led to his company’s success.
(12:33) The Importance of KPIs – Steven explains how tracking performance metrics transformed his business operations and accountability.
(17:00) From Ironman to Everest – Steven shares lessons from endurance sports, including how mental toughness and planning apply to leadership and entrepreneurship.
(21:30) Preparing for a Business Exit – Steven provides actionable advice on scaling businesses and maximizing valuation before an exit.
(33:18) Visualization and Goal-Setting – Steven emphasizes the power of visualization and intentional action in achieving both personal and professional goals.
(45:00) Final Thoughts – Damon and Steven wrap up with advice for entrepreneurs on embracing resilience and the importance of lifelong learning.
About Steven:
Steven Pivnik is a Ukrainian-born entrepreneur who built and sold Binary Tree, a software company that grew to over 200 employees across 12 countries, serving 90% of Global 5000 customers, including JPMorgan Chase, Airbus, and Microsoft. After selling to Quest Software (a $4 billion competitor), he now advises founders of companies with $10-50 million in revenue on scaling and exit strategies. An extreme endurance athlete, Pivnik has completed 17 Ironman triathlons, including the World Championship in Kona, Hawaii, and multiple ultra-marathons. He authored the Amazon bestseller Built to Finish and is currently training to climb Mount Everest in May 2025.
Resources Referenced:
Steven Pivnik on LinkedIn
Built to Finish: How to Go the Distance in Business and in Life by Steven Pivnik
AIP Advisory (Pivnik's consulting firm)
Take the Stairs: 7 Steps to Achieving True Success by Rory Vaden
Training Peaks (endurance training app)
Strava (fitness tracking app)
Podcast Contact Information:
Website: www.learnit.com
Email: podcast@learnit.com
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