Beyond 8 Figures

In this episode, Timi and A.J. discuss why you should build an intention-led business. They talk about the experiences and lessons learned from several other entrepreneurs in building mission-led ventures and the challenges that one might face. Tune in to learn about starting and scaling a business that not only helps you nurture a better team but also allows you to attract clients you are excited to serve. On today’s episode: Episode Overview: intention setting (between woo-woo and practicality). - 0:40Successful entrepreneurs who have built intention-led businesses. - 03:30What does it mean to build an intention-led business? - 06:19How feeling impactful can drive your business (and vice versa). - 10:08How you can build a business that is meaningful to you. - 14:35Do you need experience with intention setting to build an intention-led business? - 15:43How do you know when is the right time to reset the path your business is on? - 17:35How building an intention-led business is very personal. - 23:03 Building an intention-led business DESPITE being extremely busy. - 24:39Don’t just SAY what your business intentions are, you must DO this.  - 28:08 Don’t copy other entrepreneurs, steal from them (explained). - 32:26Why you should center your business intentions around your team. - 34:20 What type of client will your business intentions attract? - 42:11Our research on how to transition from being a 7 figure to 8 figure entrepreneur. - 46:16Key Takeaways: To start building an intention-led business, ask yourself what it is you genuinely feel passionate about? What problem would you like to fix? Then think about how you can use your business to contribute to fixing that problem. Finding the right type of customers and the right team is integral to building an intention-led business. You don’t need to have experience with intention setting, all you need to have is the drive to create a business that is meaningful to you. Having an intention-led business is building a business that people you work with and for will get more value from over the long-term than if you only focused on profit generation.Every company goes on its unique path and thus each company has different looking inflexion points. These crossroads can be good moments to reflect on the state of your business and decide on whether it's a good idea to reset the path your business is on. Building an intention-led business alters the very foundations your business is built upon. Don’t just settle with saying what your intentions are for your business. Instead, you have to elaborately describe what that intention means and how it can realistically and practically be manifested within your business. You have to make your intentions structurally part of your business. Your team comes before your client. Without a happy team, you will be unable to serve your clients well.This is what the thought process in building an intention-led business looks like:[14:56] “If I want to do this, and I know I can provide the value that I believe is necessary for this part of the marketplace that I want to enter, I can do it the way that I think it worthwhile”What intentions lead your business? Tell us in the comments, and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Entrepreneurs on Our Show Who Built Intention-Led Businesses: Hack Business Growth By Building a Product You Would Use with Jeff Epstein, Onboard.ioBuilding a People-First Company with Natalie Nagele, WildbitWhat Does the Future of Work Look Like with Stephanie Nadi OlsonConnect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@beyond8figures.com

Making money is an integral part of entrepreneurship, but knowing what to do with the money you make is a whole other story. In this episode, A.J. is joined by entrepreneurial coach Henry Daas to discuss how to figure out what money or financial wellbeing means to you in life and business. Their discussion is based on one succinct principle: money has no inherent value other than giving us the ability to do what we want to do. Tune in to this episode to learn how to plan for and think about your financial wellbeing.  About Henry Daas: Henry Daas is an entrepreneurial and personal finance coach. According to him, he has reinvented himself 10 times so far throughout his life. Henry Daas is the author of “FQ: Financial Intelligence.” In this book, Henry presents a comprehensive exploration of personal finance, guiding readers with essential knowledge and insights. This book empowers individuals to navigate the various factors influencing their financial well-being, enabling them to make informed decisions and unlock their path to lasting financial success.Visit our curated collection of Business Books for more enriching reads.Signs that you need an entrepreneurial coachAre you unsure if you need an entrepreneurial coach to guide you on your business journey? Here are several indicators that suggest you may need a coach:Feeling Stuck or Overwhelmed: If you’re feeling stuck, unsure of your next steps, or overwhelmed by the challenges of running a business, it could be an indication that you need an entrepreneurial coach. They can assist you in gaining clarity, identifying solutions, and developing a plan for moving forward.Need for Skill Development: To succeed as an entrepreneur, you may need to learn new talents or hone existing ones. If you notice gaps in your skill set or a lack of experience in particular areas crucial to your company’s success, an entrepreneurial coach can help you develop those skills efficiently.Business Decision Challenges: Making significant business choices can be difficult, especially when faced with uncertainty or conflicting options. An entrepreneurial coach can assist you in navigating challenging issues, providing objective insights, and guiding you to make informed decisions that are consistent with your aims and values.Need for a Fresh Perspective: When you’re fully immersed in your business, it’s easy to lose sight of opportunities or potential blind spots. An entrepreneurial coach provides a unique point of view, offering useful ideas and challenging your assumptions. They can assist you in seeing things from a different perspective and identifying new possibilities.Remember, seeking an entrepreneurial coach is not a sign of weakness but a proactive step towards enhancing your skills, mindset, financial wellbeing, and business success. It shows a willingness to invest in your professional and personal growth as an entrepreneur.On today’s episode: Who is Henry Daas? - 0:40Getting to a point in your journey where you don’t need to sell anymore. - 04:29 Being content with having just one gig going. - 11:06Where can you find company secrets? - 12:56What’s the difference between being rich and having a lot of money? - 17:27 The downside of the gamification of money.- 21:34 How rich do you actually want to be? - 24:02An analogy that might help you understand what cryptocurrency is. - 32:14Why you can’t fully predict the future from reading financial charts. - 37:06Thinking of success as having freedom. - 40:59Who becomes rich when new opportunities happen? - 42:55The likelihood of making more than a million dollars in your business (and why people don’t want to be entrepreneurs). - 46:48The risk of being an employee. - 50:12 Why are the rich not being taxed in the US? - 57:50Key Takeaways: Your entrepreneurial journey will not be linear. There will always be ups, downs, rights, and lefts. You might even get to a point when you no longer want to do any client-facing work.Low attention spans in the internet age have led to misinformation. People rely on headlines without doing their research. To get the full picture of events and markets, you must put in the work and read full pieces.  You don’t need to have a lot of money to be rich. Being rich is having enough to be content and comfortable with your life. Having a lot of money is just living in excess for the sake of it. You can think of bitcoin as similar to gold. It is a store of value but it is a long way off from having enough liquidity. You can think of the definition of success as having the freedom to do what you choose. You have to think of your exit strategy as an entrepreneur. Ask yourself what you want from your business. If your business does not have lots of barriers to entry, it can be a great thing for you but it can also mean that you can be easily replaced.The risk of working for other people can be a lot riskier than working for yourself.Who becomes fabulously rich?[45:29] “People who became fabulously rich in the 1800s were the Vanderbilts and the Carnegies who actually built the railroads but since then the ones who have become fabulously rich are the people who have used the networks...who has made the money? Amazon. Facebook. Netflix. Google. None of them owns a stitch of the actual network.” How can you leverage this thinking to create wealth for yourself? Tell us in the comments, and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Connect with Henry Daas:LinkedIn: @HenryDaasFacebook: Daas KnowledgeWebsite: https://henrydaas.com/  Newsletter: https://fqupdate.daasknowledge.com/  Connect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook:

Serial Entrepreneur Pete Martin joins A.J. to discuss how you can go from entrepreneur, to enterprise, to empire, to exit by doing less. They talk about the importance of having the right team, why not all business is good business, escaping the rainmakers dilemma, and how co-innovating with your customers can maximize your growth and business income. Tune in to learn how to build a business around what’s important to you to create long term value.About our Guest: Pete Martin is the founder of Ask My Board, which is the sixth company he has started. In AskMyBoard, he coaches businesses using the Four Pillars of Power and the Catapult Method, ensuring they grow to be resilient and financially healthy businesses. He has sold his other 5 businesses with an average return of 11x to his investors. He is the author of the upcoming book, "Sparking a Mobile Revolution; How Mobile Voting Will Change the World as We Know It.”.On today’s episode: Who is Pete Martin? - 0:47How Pete Martin was doing this work pro bono before starting his company. - 02:11How he grew his company without outside capital (and how he learned about organic growth). - 04:21Who is his ideal client? -06:58The four transition points of the entrepreneurial journey (where are you on this scale?). - 07:48The four pillars of power explained (and how he turned down a $5 MM dollar contract).- 10:24 How the four pillars of power work together and influence each other. - 17:04 99% of the problems that entrepreneurs have are THIS kind. - 18:05What is the rainmaker’s dilemma? (and how to make a plan that actually sticks). - 24:01What is the Catapult Method? - 27:27How Pete Martin defines success. - 30:26 Did you know Pete Martin has an awesome band? - 32:55Takeaways from today’s show (and a HUGE discount on Pete’s services)- 37:29 Key Takeaways: The decisions you take when growing your company largely depend on whether you have external funding or are growing organically. There are four key stages of the entrepreneurial journey: entrepreneur, enterprise, empire, and exit. Moving between these stages, and within these stages, requires different skill sets, different strategies, and different investments. The four pillars of power are: team, customers, capital, and strategic execution. Strategic execution is when you are co-innovating with your customers and when you are co-innovating with your customers you’ve got an extremely valuable business and have the maximum amount of options with what you can do with your company.People problems constitute the large majority of problems that an entrepreneur faces. So, a great way to overcome this challenge is to ask yourself: what is my dream employee like?The Catapult Method is about maintaining a healthy business from the outset so that it is set up for growth but can also be a lucrative exit. Are you using your time strategically? [26:19] “How we approach entrepreneurs as they create this growth plan is, it literally comes down to ’what are you doing on a day to day basis?’, literally, because that’s where the rubber meets the road. And if you say ‘hey I want to grow and I want to scale’ and you’re spending 8 hours filling RFPs I can tell you that you’re going to hit your limit. And frankly, a lot of ego gets in the way.” How does the way you use your time facilitate or hinder your growth? Tell us in the comments, and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Connect with Pete Martin:LinkedIn: @petegmartinTwitter: @askmyboard Website: https://askmyboard.com/ Connect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

Marcello Leone, CEO of Bevcanna, joins A.J. to discuss his experience of running a company with a first-to-market product: cannabis beverages. They converse about several topics including what it is like to run a heavily regulated business, whether or not you should be open to selling your company, and how to align your personal goals with your business goals.Tune in to learn about the challenges of running a company with a first-to-market product. About our Guest: Marcello Leone is the CEO of Bevcanna, an up and coming cannabis beverage company that is heavily involved in the health and wellness space.  Bevcanna provides whitelabel cannabis drinks to other businesses. It is a publicly registered company. Previously, Marcello was CEO of RYU apparel. On today’s episode: Who is Marcello Leone?-  00:39How Marcello became an unconventional cannabis entrepreneur. - 02:57The journey of innovating a completely new category of drinks (being first to market) - 06:17The toughest part of being first to market and going into uncharted territories. - 10:46Planning international expansion when you are first to market.  - 14:19 Why compliance is a full time in the cannabis industry. - 16:27How attached should you be to your business and should you be open to sell?  - 19:12Should you pay yourself as an entrepreneur? - 25:162 key things Marcello has learnt by being an entrepreneur. - 26:38 Does Marcello want to be an angel investor? - 29:08 What legacy does Marcello Leone want to leave behind? - 30:19 Lesson #1: Leveraging your past. - 33:52 Lesson #2: Build a moat. - 36:27 Lesson #3: Your goals vs. your business goals. - 40:08 Key Takeaways: Building the foundation of your business pre-revenue is the most challenging part of creating a first-to-market product. It is a great business opportunity that the U.S. legalization of cannabis is not complete yet. You can be early in a new space and position yourself very well in the market.The job of ensuring compliance is integral to the structure and successful operation of businesses in the cannabis industry. You cannot successfully run a cannabis business in the current environment without a sharp focus on ensuring compliance. Being open to all opportunities including not being too attached to your business and being open to sell allows you to consider what’s best for you more fully and therefore avoid missing out on lucrative opportunities. Not being willing to risk everything in itself is the first risk. Will it work out? [11:26] “Crazy entrepreneurs that we are, saw the opportunity, believed in it, didn’t necessarily know how it was going to work out, leveraged everything that I owned, borrowed from my family members, raised capital, and went all-in into this new category where we are today. You never know, especially when you are charting uncharted territory” What was the toughest challenge for you when you were first building your business? Tell us in the comments, and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Connect with Marcello Leone:LinkedIn: @Marcello-LeoneTwitter: @BevcannaEntInstagram: @BevcannaWebsite: https://www.bevcanna.com/ Connect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

Shaun Clark, co-founder of High Level, joins A.J. to discuss the biggest problems businesses have: getting customers. In their conversation, they delve into many interesting questions like why SaaS on its own is not enough, what most businesses get wrong in their lead generation processes, and how being a bootstrapped company helps you better connect with your ideal customer. About our Guest: Shaun Clark is the co-founder of High Level. High Level offers a full suite of services to clients to help them turn leads into customers. His product is focused on conversions rather than clicks. Previously, Shaun founded InvoiceSherpa amongst other businesses. He used his past experiences to inform his current journey, helping businesses do what is most important to them: get clients.On today’s episode: Who is Shaun Clark? - 00:49 Asking customers what they need can give you your product idea. - 05:21The biggest challenge bootstrap SaaS founders in growing their business.  - 10:22How to overcome Google and Facebook Ad challenges (if your ads aren’t converting well enough). - 11:35 What is Shaun Clark’s High Level business growth plan? - 12:41Why every small business needs an agency by its side. - 15:09 Will High Level run a certification program? - 16:44The one thing most businesses get wrong with their leads. - 18:08Why having a community for agencies is the way to go. - 21:43A business model focused on actual conversions, not clicks (platform walkthrough)- 22:39Should you build your business piece by piece or all at once? (what they did at high level) - 29:32This is what the future of lead nurturing will look like. - 31:42Can one company do everything? - 35:54Does being a bootstrapped company help you better understand your customer? - 37:54 Should you 10x your previous numbers? - 39:00How can you learn more about High Level? - 41:50 Lesson #1: learning your customer inside out. - 43:47Lesson #2: Ask who not how - 45:41Lesson #3: Paid advertising is not enough, build a word of mouth campaign. - 47:56Key Takeaways: Distribution is the biggest issue for bootstrapped SaaS founders. Digital ads are the main distribution mechanism and big players flood the ad pipelines with huge budgets which creates a large barrier to entry for new businesses who don’t have a large ad budget. Creating a great niched-down product can help grow your customer base without spending too much money on ads. Lead capture methods change all the time, but what a lot of businesses keep getting wrong is lead nurturing. It can take up to 30 touches with your lead to convert them into a customer. It is not always important to 100x or 10x your previous achievements. Building something sustainable that helps others in their journey is in itself a very worthy goal.What every business gets wrong about their leads: [18:46] “Lead capture methods expand and mutate all the time. But ultimately, where we find the biggest drop-off is in the nurture. It’s one thing to capture a lead but leads aren’t customers and getting them from lead to customer - that nurture journey - that’s the place where everybody falls down.” How do you nurture leads? Tell us in the comments, and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Connect with Shaun Clark:LinkedIn: @shaunclarkhighlevelHigh Level: https://www.gohighlevel.com/ High Level Twitter: @gohighlevelHigh Level Instagram: @gohighlevelConnect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

Jeff Epstein, the founder of Onboard.io, joins A.J. to discuss how he restarted his entrepreneurial journey after finding a problem that he personally relates to. They discuss his lessons from his previous business and he explains why business is better this time around. Tune in to learn different aspects of what it takes to be more intentional when starting a business including how to select a great business partner and why you should have a clear data gathering vision. About our Guest: Jeff Epstein is the founder of Onboard.io. Onboard.io is a solution that streamlines the customer onboarding process by integrating many different onboarding tools in one package. Previously, he founded Get Ambassador. According to him, what makes Onboard.io a more successful and enjoyable journey for him is that he relates to the problem! On today’s episode: Who is Jeff Epstein? - 00:43 Having a remote team and using flexible scheduling - 02:10 The most intentional he has been about building a company (and what that means)- 03:38Buying a business for all the wrong reasons in 2007 - 05:43How having an internet business used to be more than a decade ago (an expensive learning experience) - 08:30Most business partnerships don’t work out, so make sure you do this.- 10:33Sharing responsibilities with a partner instead of doing everything yourself- 12:30The main reason they lost customers (and how they turned that around).- 14:43Knowing that there is a huge opportunity but hesitating to start a business - 17:05Why starting a company that fixes a pain YOU’VE experienced is a whole other ball game - 19:26 How having a clear vision of why and how you gather data makes you more effective. 21:47Will Jeff be creating a channel program for Oboard.io? - 24:03 Going from getting ZERO personal time to establishing a healthy work-life balance - 25:33How he’s structuring his company to give himself and his team a better balance. - 28:42How he was blown away by the possibility that you can actually love your job - 29:57 Using bad experiences to create better businesses - 35:17 Key Takeaways: Being intentional about building a business is all about anticipating possible challenges and figuring them out before they happen. Being intentional includes anticipating both personal and business challenges that the work may present. Most business partnerships don’t work out. When establishing a business partnership, it is important to align expectations. One of the main reasons you might be losing clients is because they may not be getting a taste of your product. Building a company that fixes a problem you know inside out is much easier than building a company where you are disconnected from the problem and don’t feel, yourself, the pain of the problem. Overworking yourself to make your business succeed can exert a heavy toll on your personal life. Part of the sustainability of a business relies on having a healthy work-life balance. Allowing for remote work and flexible hours are one way to promote a healthier work culture. Don’t fret if you’ve had unfavorable business experiences. Rather, keep iterating. Use every experience as a stepping stone to the next. Building a company where you’ve EXPERIENCED the problem: 20:02 “When I’m speaking to investors and other folk and they say ‘why this time’ and then I say listen,  in the most honest way I can answer, this is actually a problem that I understand. I built a company in a problem that I didn’t really understand...this is a lot easier that I actually felt pain.”How do you relate to the problem your company works on solving? Have you personally experienced that problem?  Tell us in the comments, and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Connect with Jeff Epstein:LinkedIn: @epsteinjefferyTwitter: @jeff_epsteinInstagram: @jeff_epsteinOnboard.io:  https://onboard.io/ Connect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

In this episode, the tables are turned! Instead of being the interviewer, A.J. is interviewed. He extracts insights he has learned from the previous guests and shares the nuggets of reflection from his experience about business growth. In this episode, you will learn:How to evaluate the state of your business. What should trigger you to pivot your business direction. How to avoid getting lost in data and make the most out of it for the success of your business.  On today’s episode: Why oday’s episode is different - 00:37 When should you change up your business model? - 04:29 Why do entrepreneurs sometimes take risks against all the odds? - 07:47 How important is it to align your expectations with your business? - 09:23 The right time to pivot your business model vs. the wrong time to pivot your business model.  - 10:46 Finding the meaning behind running your business (why it’s important). - 13:21 How often should you reevaluate your business venture? (and what to evaluate beyond operations) - 15:37 What data do you need to grow your business (a key question to ask).  - 19:12 This is how you find out if your business is headed in the right direction. - 22:26 Before considering new opportunities for your business, listen to this. - 25:10 Are you wearing too many hats in your business (capitalizing on abundant resources)? - 29:17 Why data-driven organizations perform better than non-data driven organizations. - 33:30 Using the MacGuffin technique in business. - 35:00The formula you need to rebuild your business after a plateau. - 36:16 The main question to ask when you check in with yourself - 42:00Key Takeaways: To get past your comfort zone as an entrepreneur, you have to be willing to be flexible. You will need to experiment with what you deliver for your core avatar. Pivoting is overemphasized. Are you looking to pivot because you are frustrated, or are you looking to pivot because the opportunity is truly there? Listening to demand, listening to your audience, is a strategic way to shift the direction of your business. Running a 7-8 figure business can enable you to have a wide and far reaching impact that goes beyond improving the well-being of your family and trickles down to the communities you interact with.You should reevaluate your business regularly. Reevaluating on a quarterly basis is a suitable guideline. You can also set the main revaluation date around your birthday. When you reevaluate your business, don’t only reevaluate business operations, also reevaluate what your business personally and meaningfully adds to your life. Guide your growth by asking yourself: what type of data do you need at what point of time and how does that change over the course of your growth.   Look at your business and ask yourself: what is the likelihood that my business can be scaled up?  It is not only about what you should be doing. Ask yourself: what does success mean at each step on your way to where you want to get to. Data-driven organizations outperform non-data-driven businesses. You have to do what you can to isolate the weaknesses in your business. Isolate the reasons you are drifting, then build once again. Reality checkpoint (ask yourself this): Where are you compared to where you started? Too often we have amazing end goals in place, but it is a journey...it’s about where you go compared to where you started, not to where you are by itself.How far are you on your journey compared to where you started? Tell us in the comments, and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Connect with Insights Lab: Website: https://insightslab.ai/ Email: weare@insightslab.ai LinkedIn: https://www.linkedin.com/company/insightslab-ai/ Connect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

Natalie Nagele, CEO of Wildbit, joins us to discuss building a successful people-first company with a 32 hours workweek. Speaking from her own experiences, as a leading people-first employer, we talk about how you can measure your success as an entrepreneur, how to stay guided by your purpose throughout your entrepreneurial journey, and what it takes to stay committed to your business.  Three things you will learn from this episode: Why you should think of your business as a tool rather than an end in itself.Whether you should pay yourself as a founder or reinvest to build towards a great exit.How to avoid burnout by setting the optimum pace for the growth of your business.  About our Guest: Natalie Nagele is the co-founder and CEO of Wildbit. Her priority is creating a happy and positive work culture at Wildbit and the world. This stems from her core belief that businesses are tools designed to create a better world for people everywhere.On today’s episode: Measuring your entrepreneurial journey in decades. - 03:10How slow growth changed our entrepreneurial vision. - 06:43Should you service yourself or your business? (the beginning of a people-first philosophy) -09:48You don’t have to choose between building a lifestyle business or a unicorn business. - 10:16How important is fundraising to your success as an entrepreneur? (the answer may surprise you). - 12:55How do you know if your business is moving at the right pace? - 16:01The cost of doing more than you planned for in your business. - 22:34 A good question to ask yourself instead of comparing yourself to others. -  26:04Don’t copy, steal: entrepreneurship vs. being a copycat. - 26:52 Should founders pay themselves, or should you reinvest everything in your business? - 29:03Living your best life BEFORE you sell your business. - 30:03The trouble with the concept of the entrepreneurial legacy. - 32:22 Check out these companies with People First Jobs. - 36:04Lesson #1: Using moments of tension as opportunities. - 39:25 Lesson #2: Pay yourself well. - 41:32 Lesson #3: How you impact who you interact with. - 42:49Key Takeaways: Entrepreneurs should look at and evaluate their lives in decades because it takes a decade to build and scale. Building your business outside trend bubbles can make you stand out and not stick to the trends.When your business plateaus, it is crucial to reevaluate what you are doing and why you are doing it. It is an excellent opportunity to evaluate what your long-term goals are. It is becoming much easier to start a business and gain traction, especially in terms of cost. Entrepreneurship is not about fundraising. It is about building value for customers and finding ways to do that in which you are making more than you spend.Frequent change in your business makes you lose out on so much momentum. You must set priorities and stick to them instead of measuring yourself against others. Hero worship is ultimately going to fail you. You are better off measuring against yourself than you measure yourself against others. As an entrepreneur, you have to keep assessing how your company fits within who you are and what your goals are in life. Paying yourself as a founder secures your commitment to building a meaningful business. It ensures that you would not leave your business behind for ‘the next big thing.’ Paying yourself well is the best way to keep yourself engaged in your business. Building a people-first company while providing a good life to your family: [31:27] “I tell the team this all the time: if this business gets harder, and I make less money, it does not make sense. Which it doesn’t, like why would I do that? And that’s Ok. But I’m not torturing my team, and I do that while simultaneously providing 32 hour work weeks. I’m not embarrassed to say that out loud because I believe you can equally do both things: you can build a people-first company while also providing wealth for your family.”  How do you think building a people-first company would improve your life balance as an entrepreneur? Tell us in the comments, and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Connect with Natalie Nagele:LinkedIn: @natalie-nageleTwitter: @natalienagelePeople First Jobs: https://peoplefirstjobs.com/ Wildbit: https://wildbit.com/ Connect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

Today’s episode is about the impact you can potentially have as an entrepreneur on your communities. Dr. Velma Trayham joins us to discuss how she is helping ending poverty through building her 3-winged business. Three things you will learn this episode: How to run multiple businesses effectively;How to use your business to help your community;How to use self-care and self-development to grow as an entrepreneur. About Dr. Velma Trayham: Dr. Velma Trayham runs a three wing operation: ThinkZilla, a brand engagement firm; Millionaire Mastermind, a business education platform for women; and she is a hotel investor as well. Her three businesses synergistically feed off each other. She has mentored over 5000 women in her career and is an award-winning entrepreneur.She also wrote the book, “After the Pivot: Real advice on how to survive a business pivot and make money.” In this book, she shares insights on how to navigate the aftermath of a pivot. Drawing from her own experiences and highlighting successful examples like PayPal, she provides business owners with practical guidance to move forward, make informed decisions, and ultimately thrive in the face of change.Expand your entrepreneurial toolkit with our curated collection of Business Books.On today’s episode: Dr. Velma Trayham’s entrepreneurial journey (she’s hiring 25 new employees!)- 01:55Why she’s working on many different businesses instead of just one OR  Why having many different businesses can be the solution you need -03:35Why Dr. Velma Trayham built Millionaire Mastermind Academy and has run it every single month since - 07:40Is everyone ready to own a business? (and an interesting definition of ownership) - 09:54 Why your business will suffer without self-care (and why self-care is central to every entrepreneur’s success)- 12:06 What is supplier diversity and how it can help communities get out of poverty - 14:52What does a community-focused legacy look like? - 19:34Lesson 1: How to run multiple businesses effectively - 21:04 Lesson 2: How to use your business to help your community - 22:17 Lesson 3: Your business is only a tool on your journey - 23:44Key Takeaways: Having many different initiatives does not mean you have to do all the work running all of them. All you have to do is put the right systems, processes and people in place to make sure the business runs well. If you want to have many different businesses, one strategy you can adopt is to make sure that one business feeds onto the next. Dominate a space. “Ownership is not a pursuit, it is a result”Professional development and self-care are extremely important for entrepreneurs: “you cannot pour from an empty cup”. Working with small minority-led businesses can help communities get out of poverty. Whoever you are, you are brought on this earth to solve a problem. Money coming into small businesses flows into their communities 7x, the number is just 1.5-2x for large corporations. In short, small businesses uplift their communities financially considerably more than large corporations do. Why sometimes having several ventures is more effective than having just one: “When you look at ending a systemic issue, a systemic problem, and you’re looking at poverty, you need different elements in order to do that so along the journey I have been understanding what the problem is, I am not waiting on other people to provide solutions. I am actually along the way putting things in place to be the solution to the problem” -  Dr. Velma TrayhamWhat are your pro tips for successfully running multiple businesses at the same time? Tell us in the comments and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Connect with Dr. Velma Trayham:LinkedIn: @VelmaTrayhamInstagram: @Velma_trayhamMillionaire Mastermind Website: https://millionairemastermindacademy.org/ Thinkzilla Website: https://thinkzillaconsulting.com/ Connect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastAffiliate 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.

In this episode, Aaron Hurst discusses how his business, Imperative, is transforming mentoring and corporate relationships with psychology. His company uses psychology and neuroscience to help people build more meaningful relationships at work. Tune in to learn how to assess the value you produce, how to foster an environment of meaningful engagement at work, and how to leverage psychology to gain more market share. About Aaron Hurst: Aaron Hurst, the visionary CEO of Imperative, leads a psychologically designed peer coaching company, providing invaluable support to business owners and entrepreneurs. As the founder of Taproot Foundation, he created a powerful link between not-for-profit organizations and business executives, offering pro bono work and igniting a transformative movement.In his book, “The Purpose Economy”, Aaron blends personal memoir with a transformative blueprint. His profound insights illuminate the potential of purpose-driven entrepreneurship, showcasing how businesses, markets, and careers can be reimagined to better serve people and the world. This book serves as an indispensable guide for navigating the evolving landscape of purposeful business and social change.Visit our curated collection of Business Books for more enriching reads.On today’s episode: The 2 existential threats to the world that Aaron Hurst is solving.- 04:00A new way to get career coaching (4 questions). - 06:09 Has remote work strengthened relationships at work?- 08:18Why reverse the corporate culture around relationship building at work (two inflection points). - 09:13Why mentoring usually fails (and how Aaron’s company fixes that). -10:27Aaron’s journey as an entrepreneur in many different spaces. - 11:23What kinds of companies need venture capital and why he chose the VC route. - 13:00How does your role as a founder change when you become VC backed? (the 3 main things you have to focus on). - 14:39What is the biggest driver of value in our economy? - 16:14The dark side of using psychology to grow your company and what needs to change. - 18:08Creating the foundation for grassroots change vs. getting involved in the political world. - 21:45“Repair the world” how that principle guides him and keeps him humble.- 24:53Why you shouldn’t get too attached to the concept of legacy. - 28:54What is your value above replacement? (a good way to make decisions AND assess if you are adding enough value) - 31:03Lesson 1: Looking at your efforts with more detail (more on value above replacement)- 35:35Lesson 2: Removing fear from our environments - 36:35Lesson 3: What are you doing that pushes you on your journey and what do you do to elevate your standards? - 37:47Key Takeaways: Sustainability and lack of social cohesion are the two largest existential threats to our human race. According to a Microsoft study, people’s connections with their immediate team have strengthened during covid. However, it was found that their broader networks have been decimated. According to an MIT article, traditional mentoring has been proven not to be terribly effective while mentoring that is based on relationship building reaps better results.Mentoring usually doesn’t tend to work well because the workplace is asymmetrical. When you are looking to make a big change, not just build a x million dollar company, but rather be an integral part of lots of people’s lives you need venture capital to get there.The only way you scale as a venture backed business is by building systems and by building a team. As a CEO, you must be the person who plays a major role in defining the vision, creating the company culture and allocating the resources strategically. Psychology is the biggest economic driver of value. Most successful companies leverage psychology and neuroscience to grow. A good example is Facebook. The use of psychology to grow businesses has a dark side where businesses can negatively impact and manipulate their customers. Effectively, it almost makes businesses into drug dealers. Regulation is needed to keep the psychological influence of companies under control.In buddhist belief, you are taught to let go of attachment. The concept of legacy can be an attachment. Getting too fixated on legacy may prevent you from focusing on your happiness. Removing fear from our environments helps us build more meaningful and stronger relationships. The biggest driver of economic value in 2021 is leveraging psychology to capture the market: “There is a tremendous opportunity, which we’ve seen across every sector,  to innovate and capture more market by meeting the human need for meaning, the human need for these positive psychological attributes in the market but also exploiting the negative ones...which is the dark side of this whole industry” -  Aaron Hurst (17:57)How does your business leverage psychology to capture the market? Tell us in the comments and don’t forget to say hello if you would like to share your entrepreneurship story on our podcast. Connect with Aaron Hurst:Aaron Hurst’s LinkedIn: @aaronhurstAaron Hurst’s Website: https://www.aaronhurst.us/ Imperative website: https://www.imperative.com/ Taproot Foundation website: https://taprootfoundation.org/ The Purpose EconomyEmail: emma@imperative.com Connect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.com Instagram: @ajlawrenceLinkedIn: A.J. LawrenceTwitter: @ajlawrenceMedium: @a.j.lawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.comAffiliate 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 jou...