Intentional Growth

#283: The Lucky Formula: How to Stack the Odds in Your Favor to Cash in on Your Success with Mark Lachance

Jan 13, 2022

51:35

Ever feel like some business owners “just get lucky?” Somehow they’re in the right position to receive a windfall or somehow get ahead of the next big thing, though their operations don’t seem to differ much from your own. Why don’t you see any lucky breaks? This amazing episode with Mister Lucky himself, Mark Lachance, will show you exactly how to get lucky—on purpose—using the methods he developed through bringing multiple platforms into billion-dollar earners. Mark was one of the founding members of both VersaPay Inc and Pivotal Payments, helping set the course for these financial heavy-hitters.

In 2016, Mark successfully sold his last endeavor, EVO Payments International Canada—an end-to-end payment solutions provider and merchant acquirer which he founded in 2009 with only one employee. Currently, he is CEO of Maxy Media, a marketing agency that specializes in paid media on social platforms like Tik Tok, Instagram and Facebook. His ability to calculate and analyze risk, see the market for what it truly is and develop multiple platforms to capitalize on multiple markets makes him an excellent source of knowledge about marketing, blitzscaling and “getting lucky” in business. This episode is a story about how one entrepreneur kept taking strategic risks and the advice he has for other entrepreneurs ready to do the same.

What You Will Learn

Why Mark chose the Blitzscaling model in his marketing agency and how it paid off
What the “Entrepreneur's Dilemma” is and how to overcome it
Why it’s important to drop the entrepreneur ego
Some breakthrough questions to ask yourself when it comes to dropping your ego and growing the business
What it means to stack the odds in your favor
Why just meeting people at conferences can open so many opportunities
How Mark took one guy highly skilled in paid ads and created a marketing agency with over 300 employees
Why Mark pivoted his marketing agency from a service business to a performance business
Some strategies a service-based business can use to create a partial recurring revenue model
Why Mark believed he should go from 30 employees to 100 in less than three months

// USE YOUR FINANCIALS TO CLARIFY A PATH TOWARDS A MORE VALUABLE BUSINESS: Intentional Growth Financial Assessment

Bio:

Mark Lachance (Mister Lucky) is the CEO and Lead Investor of Maxy Media Inc., one of the largest TikTok, Facebook, Snapchat, and Google Display Network performance marketing agencies in the world. Mark is also the author of The Lucky Formula, a book that talks about what it means to stack the odds in your favor and reap the rewards from the success. Growing up in a hockey family, Mark started his career as a Hockey Sports Agent and quickly learned he needed a business that was simple to scale and had recurring revenue. Now Mark lives in Florida and has a goal to own the Florida Panthers Hockey Team.

Quotes:

05:02 - “We spoke about having a ‘why.’ My ‘why’ is to never have to work in construction, ever again.” - Mark Lachance

09:40 - “Never literally go all in.” - Mark Lachance

15:40 - “The first thing you learn when you walk in here (if you haven’t gone to one of these events, I highly recommend it) you learn that you’re the problem. You get hit in the face with a shovel, pretty much. The first thing Tony says is, ‘If your business is stuck, you’re the problem.’” - Mark Lachance

16:09 - “I can hire people that are smarter than me and not lose my CEO position and I can actually grow a business quickly and be happy growing the business. Because I can be focusing on what I want to do.” - Mark Lachance

16:52 - “Drop your ego and bring people in (that are better than you) to do the job.” - Mark Lachance

23:00 - “Doing things and helping people grow and developing business is what always gets me juiced and jacked up so that’s what I want to do.” - Mark Lachance

24:54 - “Because, if I deliver tons of positive value out there, there’s a pretty good chance that something’s going to come back to me.” - Mark Lachance

27:10 - “Is that luck or did I stack the odds in my favor that I’d be sitting in that situation? That’s the point.” - Mark Lachance

29:21 - “I’m going to engineer this situation and the value I want, to have as many freakin’ choices as possible so that, when I wake up in 2025, I’ve got the choices I want. But you have to engineer that from five years ago and value creation is going to be the number one mechanism to help you create those choices.” - Ryan Tansom

37:32 - “Performance is, ‘If this, then that.’ So if you’re going to pay me $2 per lead, then I better get that lead for $1.50 or $1.75. That’s why I like the performance model. It’s based on our efforts.” - Mark Lachance

39:29 - “If you diversify your business across many different verticals and many different channels and many different clients, then you have essentially created a recurring revenue business.” - Mark Lachance