Beyond 8 Figures

If you’re interested in acquisition entrepreneurship, this episode with Elliott Holland will help you understand what it takes to be successful in this space. He explains how to differentiate between genuine red flags and workable problems, why trusting your gut is not the right approach to making decisions about buying a business, and the importance of having a “walk away” list.  About Elliott Holland:Elliott Holland, “reformed engineer” and the founder and Managing Director of Guardian Due Diligence, is an expert in small and medium-sized business acquisitions. He has over ten years of experience executing middle-market deals, and his company is filling the void of options that exist for smaller acquisitions. Episode highlights:When considering an acquisition, it’s essential to understand when something is a real red flag (and the deal should be avoided) or just a potential red flag that is worth trying to work through. Being too risk-averse or too gung-ho can cause you to end up accepting a bad deal or losing a good one. (17:51)Don’t trust your gut! Yes, you read that right. Trusting your instincts is a dangerous game for an acquisition entrepreneur because deals can look much sweeter than they really are if you’re feeling dissatisfied (which is often the case for people looking to buy a new business). Instead, focus on the data; “if the numbers don’t jive, you should run.” (20:54)If you want to buy a business, make sure you decide upfront on the point at which you will walk away from a deal (i.e., your “line in the sand”). Otherwise, you leave yourself vulnerable to entering into deals that will not serve you. (26:34)The only way to get clients is through marketing, so it’s important to be laser-sharp when defining your ideal client and to be discerning about whose feedback you are listening to. (37:29)There are countless definitions of success. Be very specific about what success means to YOU so that you don’t judge your progress based on someone else’s definition. (42:28)Elliott’s best advice for entrepreneurs: “Be very specific about what you call success and how you define it so that you can actually hit it and you don’t get confused by the “universal” definitions of success and grade yourself on somebody else’s ruler.” (42:31). Success is unique to each individual; build the life you want, not the life of someone else’s dreams. Connect with Elliott:LinkedInTwitterWebsiteFollow Beyond 8 Figures:LinkedInTwitterWebsite

The entrepreneurial landscape is full of challenges for founders and CEOs, particularly those with the intention of scaling a small business. In this week’s episode, Callum Laing explains why entrepreneurs benefit from actively seeking discomfort, having an exit strategy, and accepting that painful moments are part of the journey! About Callum Laing:Callum Laing is the co-founder and CEO of MBH Corporation PLC, a publicly listed holding company that allows small business owners to swap their private stock for public stock without losing control of their business. He has been an entrepreneur for more than 20 years, has started and built businesses in multiple countries and industries, and is the author of 3 best-selling books!Episode highlights:The scale paradox refers to the struggle that many small businesses face when trying to grow because big businesses prefer giving contracts to other big businesses. This is part of what motivated Callum to found MBH Corporation PLC, a publicly listed holding company wherein small business owners can swap private stock for public stock while retaining control of their business. (03:45)Come up with an exit plan for your business as soon as possible. Having a long-term goal will keep you focused and will make your business more attractive to investors. (11:40)Growing a business from a lifestyle business to a performance business is a challenging (potentially painful) transition because of culture clashes, business model adjustments, and systems upgrades. There’s no way to avoid it, just accept that it will happen so it doesn’t come as a shock! (21:06)You will likely make many mistakes along your journey as an entrepreneur. Keep in mind that often when your biggest fears come true, they aren’t nearly as bad as you imagined they would be. (24:00)Where you are right now on your entrepreneurial journey is not the end, it’s a stepping stone. So seek discomfort at every stage because this is where the biggest learning happens. (25:38)Callum’s best advice for entrepreneurs:“All businesses should be thinking about the end game.” (13:35) When you have a clear direction, everything along the journey becomes a lot more manageable. Connect with Callum:LinkedInTwitterWebsiteFollow Beyond 8 Figures:LinkedInTwitterWebsite

“If you don’t know where you’re going, you’ll end up someplace else.” Ryan Tansom learned the hard way what can happen if you don’t find your “why” or have a clear direction for your business. That’s why he has focused his career on helping you create success on your own terms through his 5-Step Intentional Growth Framework, which we discuss in today’s episode! About Ryan Tansom:Ryan is an entrepreneur, speaker, podcast host, and Co-Founder and President of Arkona. Before founding Arkona, he revived his family business and then sold it for 8-figures in 2014. He is passionate about helping business owners create strategies that allow them the freedom to build the business the way they want.Episode highlights:There are so many different pieces involved in growing and exiting a business. It’s important to understand all the options that exist so that you can make an informed decision that will fulfill your long-term goals. (09:00)Success means something different to everyone. Step one on the journey of achieving it is to understand what you really want, and why because if you don’t have a clear direction and motivation, you are likely to get lost along the way. (16:05)The 5 principles of the Intentional Growth Framework: personal drivers, financial targets, exit options, increase value, and a team of advisors. Understanding each of these principles will help you get the most out of your business. (17:12)Business partnerships are often fraught with challenges (as Ryan knows from experience) but creating frameworks can help to mitigate them by ensuring that everyone knows where they stand. (30:01)Entrepreneurship (and life) is a continuous learning journey. Always be open to absorbing more knowledge because the more you know, the better your decision-making capabilities will be. (42:30)Fun, wealth, impact; working at the intersection of these three factors is what Ryan sees as the recipe for a fulfilled life. (44:45)Ryan’s best advice for entrepreneurs:“If I’m more clear on what I want long term, and the multidimensional goals, then it’s more clear what I should be doing TODAY to get there .” (05:23) Without direction or intention, it’s easy to get lost in the multiple pieces that make up the entrepreneurial journey. Connect with Ryan:LinkedInTwitterWebsiteFollow Beyond 8 Figures:LinkedInTwitterWebsite

One of the keys to being a good leader is to be comfortable with taking risks. That means being humble enough to get your hands dirty, and being prepared for the long haul. In this week’s episode, Nik Tsoukales explains why this, along with getting into the trenches, delegating, and slowing down your sales cycle are essential to running a successful business! About Nik Tsoukales:At the age of 18, Nik began his sales and marketing career as the youngest real estate agent in Boston. Today, Nik is a 3-time INC 5000 winner, the founder of Realtop (one of the fastest-growing digital marketing agencies in North America), and host of the Realtop podcast. He has big dreams for the future, including signing on 100 clients and creating a stronger bridge between the analog and digital worlds. Episode highlights:Businesses are multifaceted and if you try and do everything on your own, you and your business will suffer. Letting other people take over some aspects of your business from you will lighten the load, which is essential for preventing burnout and building a sustainable organization. (05:39)Get involved in everything! To be a good leader, it’s important to connect with your team at every stage of the business. To connect with people you need to understand what they are going through, and to understand what they are going through you need to have experienced what they are experiencing. (05:09)The sales side of a business is about so much more than encouraging people to buy things. It’s about creating relationships, building trust, and solving pain points. (15:18)Don’t rush your sales cycles. The longer your sales cycle, the more time you have to build relationships with your customers. This is likely to result in a higher conversion rate because when people trust you, there is a greater chance they will choose to work with you. (25:14)When we are operating in “scarcity mode” we tend to try to hold onto every penny, but playing it safe isn’t a good strategy for business growth. Being a successful entrepreneur involves taking (big) risks. (28:51)Nik’s best advice for entrepreneurs: “You end up becoming super disconnected unless you’ve been in the trenches with everybody.” [5:35] Be humble enough to do the dirty work alongside your team; it will pay off.Connect with Nik:EmailLinkedInWebsiteFollow Beyond 8 Figures:LinkedInTwitterWebsite

Anxiety, fear, stress (and other negative emotions) are an unavoidable part of the entrepreneurial journey. It’s how we handle them that matters. Our returning guest, Annie Hyman-Pratt, is an entrepreneur and author with a passion for psychology. During this episode, she explains why we need to embrace adversity to grow as a leader, why we should never make decisions when we are in an emotionally triggered state, and the power that lies in choosing compassion. About Annie Hyman-Pratt:After 10x’ing her family business in seven years, Annie is now the CEO of Leading Edge Teams, a business consulting firm that guides companies through every challenge imaginable. Annie believes that the success and sustainability of a business can largely be attributed to the people involved and she has recently released a book on this subject titled The People Part.Episode highlights:Entrepreneurship can be a lonely journey. Be sure to surround yourself with people who can support you during the tough times, and share the joys with you during the good times. (05:39)Learning how to control your emotions is a powerful skill for an entrepreneur because challenging, stressful situations are an inevitable part of the journey. Acknowledging your feelings and speaking about them are two of the most effective ways to manage them. (20:40)Welcome challenging situations into your life. Growth occurs through adversity. (25:45)Entrepreneurs know how to get results, but being too fixated on getting quick results will more often than not leave you feeling disappointed. Rather than focusing on the end result, enjoy the journey. (27:00)Fight, flight, freeze, please; these automatic responses don’t work in business. Business problems can only be solved when we are thinking clearly and not being driven by our emotions. Don’t make decisions when you are feeling triggered. Take a step back, get some perspective, and then act. (30:33)To release anxiety, embrace compassion. (40:00)Annie’s best advice for entrepreneurs:“Our ability to grow is based on what challenges we can endure so that we can learn. If we can’t endure it, we don’t have any chance to learn from it.” (25:45) Our comfort zones are dangerous places because they hinder our ability to progress. Learn to appreciate the challenges that you encounter along your entrepreneurial journey. Connect with Annie:LinkedInTwitterWebsiteResources Mentioned:The People Part by Annie Hyman-PrattFollow Beyond 8 Figures:LinkedInTwitterWebsite

Humans and technology are converging more and more, and the only way to stay relevant in the technology industry today is by continuously scaling innovation. Join us this week for a discussion with Krish Ramineni from Fireflies on why quality is more important than speed when it comes to innovation and why work ethic is more important than talent when it comes to employees.About Krish Ramineni:Krish Ramineni is the co-founder and CEO of Fireflies.ai, an AI assistant for note-taking in meetings to help users gain the most valuable insights from their conversations. Krish was featured on the cover of Entrepreneur Magazine: 12 Founders Changing Business 2020 and was named one of Forbes' 30 Under 30.  Episode highlights:Iterating quickly is valuable in the early days to establish your business as a key industry player. However, as your company grows it becomes more important to focus on the quality and sustainability of execution if you want to continue to thrive. (04:30)Listen carefully to what your customers say about your product/service. Feedback from users is the most valuable guide for how to innovate going forward. (11:44)Customers don’t want to change much about how they do things. If you want people to choose your product/service, you need to provide value without asking them to change too much about the way they are currently doing something. (22:00)Keep this in mind when hiring people: Work ethic, hustle, and drive are more important factors than talent, knowledge, and skill. In an innovative industry, the ability to learn quickly and be adaptable is invaluable; you don’t have to be an expert from day one. (25:00)Krish’s best advice for entrepreneurs:“The day you stop innovating is the day that I believe the company really stagnates.” (07:05) To keep growing, keep innovating! Connect with Krish:LinkedInYouTubeWebsiteFollow Beyond 8 Figures:LinkedInTwitterWebsite

As your business grows, it becomes more and more complex. Rob Braiman has made it his mission to reduce business complexities and help entrepreneurs become the best versions of themselves. In this episode, he shares some examples of how he does this, as well as what it takes to run a thriving business. About Rob Braiman:Rob Braiman is a serial entrepreneur. He is currently the CEO of Cogent Analytics, a business management consulting firm that he founded, which is changing the face of consulting. Honor, courage, wisdom, faith, perseverance, and loyalty are foundational to everything that Rob does in his life and in his business. Written by Rob Braiman, the book “Mission Matters: World’s Leading Entrepreneurs Reveal Their Top Tips To Success,” is a valuable resource for business owners and entrepreneurs. With contributions from 26 top professionals, it offers valuable insights on leadership and provides practical tips for achieving success in the business world.For a comprehensive book review, check out this page.Episode highlights:Every business is built on 4 foundational pillars: business development and marketing, organizational engineering, operational engineering, and measurement. Neglecting even just one pillar will destabilize the entire business so all of them require equal focus. (11:11)Human behavior is driven more by recognition and having a voice than by financial gain. If you have employees, keep this in mind, because the best-run businesses are those within which everyone has a vested interest. (15:23)The journey of entrepreneurship is full of challenges, and it is those challenges that empower you and help you to grow as an entrepreneur. Don’t run from them, embrace them. (18:58)If you are running a business on your own, there will come a point where you will keep doing the same thing and getting the same result. This is the breaking point where you may need an extra set of eyes to point out the faultlines which are preventing you from growing. (19:16)Profit Engineering explained simply: rather than thinking about profit as a residual thing (i.e. revenue less cost = profit) think in terms of “Revenue less profit = what you can spend.” (23:20)As you progress along your entrepreneurial journey, the dynamics become more complex. It requires a lot of heart and soul to push through each threshold; success does not happen overnight. (27:45)Rob’s best advice for entrepreneurs: “The best run businesses are the ones where there is a vested interest from the employees, true leadership, true measurement and operational guidance.” (14:24) As a business owner, it is up to you to ensure that your business is being run in the most effective way possible and these are the areas that require your attention. Connect with Rob:LinkedInTwitterWebsiteFollow Beyond 8 Figures:LinkedInTwitterWebsiteAffiliate Disclaimer: Some links in this episode are affiliate links. If you make a purchase through these links, we may earn a commission at no extra cost to you. Rest assured, we only promote products/services we believe will benefit your entrepreneurial journey. 

There is never just one way to do something, and Craig Cecilio has always been someone who thinks differently and who is not afraid of changing his perspective. In today’s episode, he shares how his open-minded approach to learning from others, his daily rituals, and his love of a challenge have allowed him to flourish as an entrepreneur.   About Craig Cecilio:As the founder and CEO of DiversyFund, Craig’s mission is to disrupt the traditional real estate investment space by providing investors from all socioeconomic backgrounds the chance to build wealth.Episode highlights:The life of an entrepreneur is busy, and when you are moving all the time, it can be hard to pause and look back. However, getting that perspective can help you assess if you are still heading in the right direction (whatever that means to you). (01:34)Everyone has something to teach, and if you are open to meeting new people, you will be able to accumulate a lot of knowledge over time. (04:00)You don’t have to do things the same way other people do them. If you think differently, see it as a blessing, not a curse.(9:43)It’s important to understand your strengths so that you can build a team around you who can fill in the gaps and you can focus on what you do best. (19:23)Choosing three things to focus on every day will make you a more effective entrepreneur because you will be less distracted. There are always lots of things to do, but time blocking will ensure that you have time for all of them. (24:35)Craig’s best advice for entrepreneurs:  “It’s not just about yourself, it’s about how you build a team around your strengths.” (19:33) Being an entrepreneur is not a solo journey. The better you understand yourself, the more equipped you will be to surround yourself with a team of people who complement your skill set.  Connect with Craig:LinkedInInstagramWebsiteFollow Beyond 8 Figures:LinkedInTwitterWebsite

It’s easy to get distracted by “shiny objects” along your entrepreneurial journey and veer off course. John F. Kettley is a master at helping entrepreneurs get back on track so they can achieve what they set out to. In this week’s episode, John explains why having a purpose, being comfortable in your own skin, and taking a “helicopter view” are the keys to extraordinary success!About John F. Kettley:John Kettley's expertise lies in guiding business owners facing critical decisions at a junction, providing clarity for their path forward. With a career centered around building businesses to sell, he is the founder of the Sales Masters Guild, driven by a mission to inspire, educate, and support entrepreneurs in their business growth journey. John's profound interest in human psychology and understanding "what makes people tick" adds depth to his approach.In his book, "How to Build a Business that Creates WEALTH," John extends his expertise to empower entrepreneurs with seven crucial components that underpin a thriving business. This indispensable read equips business owners to generate sales, attain financial prosperity, and achieve an exceptional work-life balance, making it invaluable for anyone starting a new venture or seeking transformation for an underperforming business.For a comprehensive book review, check out this page.Episode highlights:The corporate environment and the entrepreneurial environment are very different. If you’ve spent a long time working in corporate settings, it’s important to understand that you will need to shift your mindset and do a lot of unlearning and relearning if you are going to be a successful entrepreneur. (8:49)If you’re running a business and you constantly have a lot of stuff to do but your business isn’t growing, it would be beneficial to bring in a third party to help give you a “helicopter perspective” (i.e. looking at your business with a broader lens) so that you can get back on course. (11:02)Sales, service delivery, and financial engineering are the three areas that you need to master as an entrepreneur, and your focus should be equal across all three. If you try to overtrade as you scale, you are likely to fall flat. (15:20)There is huge value in looking backward in order to move forward. Look at your original business plan and rework it, taking into consideration what you know now that you didn’t know then. (22:08)If you aren’t passionate about the purpose of your business, you are more likely to veer off-course. It’s vital that you ensure that your company culture and mission resonate with you and your team. (24:13)Being comfortable in your own skin is one of the keys to extraordinary success. When you know what you want, and are not influenced by external factors, you will go far because the internal drive is a very powerful force! (27:43) John’s best advice for entrepreneurs:“The mission statement needs to resonate with the business owner, and everyone who is in the business.” (29:00)  It’s important that you feel a strong affinity with the purpose of your company because that is what will keep you and your team on track! Connect with John:WebsiteLinkedInInstagramFollow Beyond 8 Figures:LinkedInTwitterWebsiteAffiliate Disclaimer: Some links in this episode are affiliate links. If you make a purchase through these links, we may earn a commission at no extra cost to you. Rest assured, we only promote products/services we believe will benefit your entrepreneurial journey. 

The journey of an entrepreneur is full of very high highs and very low lows. It requires a lot of sacrifices but it is also very rewarding. As Chris Shipferling shares with us in this episode, it is vital to find ways to overcome your fear of failure and push through the hard times to reach your full potential!   About Chris Shipferling:Chris’s career began in customer product sales, and he has held sales and digital marketing executive roles at a wide range of companies. Today he is the Managing Partner at Global Wired Advisors, a digital investment bank that focuses on optimizing the business sale process.Episode highlights:When you are building something with other people, or have a responsibility to others, they will help you mitigate “shiny object syndrome” which will keep you on track with your goals. (23:26)It’s important to know what you are good at (and what you are less good at) so that you can plan from day one to replace yourself in certain areas of your business. (24:02)Keep pushing! You will go through very high highs and very low lows on your journey as an entrepreneur. There’s a big difference between the low 7-figure stage and the low 8-figure stage, and it’s worth it to push through the hard times. (26:16)If your business model isn’t working, don’t be afraid to pivot. Change isn’t failure. (32:07)Successful entrepreneurship involves risk. If you are risk-averse, find a mentor who can help you overcome this so that you can reach your full potential. (32:32)Chris’s best advice for entrepreneurs:  “Push through. Push, push, push. Don’t give up. If you’ve got the lows, fight through the lows. Know that where you’ve made it today, at that mid 6 figure to low 7 figure, is dramatically different from a financial perspective than having that mid 7 figures to low 8 figures. ” (31:00) From where you are now, it may be difficult to imagine how you are going to get to where you want to be, but don’t give up! Connect with Chris:LinkedInFacebookWebsiteFollow Beyond 8 Figures:LinkedInTwitterWebsite