My Journey to Becoming the CEO of Empire Flippers with Andy Allaway [The Opportunity Ep.165]

Oct 1, 2024

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From our humble origins selling small niche websites to successfully selling over 2,300 online businesses and helping more than 70 entrepreneurs become millionaires, Empire Flippers has come a long way.

Now, we're entering an exciting new chapter with Andy Allaway taking the helm as our new CEO. In this episode, we take you behind the scenes at Empire Flippers, where Andy shares his journey from Director of Operations, to Chief of Staff, and now CEO. He talks about the rapid growth we experienced during the 2020/2021 online business boom and the challenges that followed in the post-pandemic downturn. Andy also explains the strategies he put in place to get Empire Flippers back on track. According to Andy,

“You have to make a conscious decision about what culture you want in your business. You have to decide what it is that you're about. That helps you identify the right people for the business who share your values and are able to maximize what you offer. Then, let that bleed through into everything you do in the business.”

We also dive into what makes a great leader and how CEOs must adapt their leadership style in both good times and tough ones. Andy explains,

“To be a really really good leader, you have to be able to flex your style depending on the situation that faces you. The way you lead in calm waters is not the way you lead when your back is up against the wall.”

If you're an employee looking to gain the kind of leadership skills that you need to become a CEO, then this is also a fantastic podcast for you.

Topics Discussed in this episode:

Andy’s background and his early days at Empire Flippers (03:10)
The changes Andy made to streamline Empire Flipper's operations (08:08)
The chaos of 2020 and how it negatively affected Empire Flipper (09:50)
Building company culture in a remote environment (20:22)
How to find a CEO for your business (22:49)
Becoming the CEO of Empire Flippers (25:44)
How Andy turned the ship around and helped Empire Flippers recover (32:33)
What entrepreneurs should focus on when rebuilding their business (36:32)
What makes a good leader and peace-time CEOs vs war-time CEOs (40:30)
Andy’s advice to entrepreneurs holding off on selling their business (46:18)

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Sit back, grab a coffee, and learn what it takes to rise through the ranks and become a CEO.