Beyond 8 Figures

In this episode, Mac Lackey tells us why being proactively preparing your business to be sold is vital even if you do not plan to exit. Are you adding the strategic value your business needs to be sold? Tune in to another episode with Mac Lackey to find out. About our Guest: Mac Lackey has started and sold 6 businesses beyond 7 and 8 figures since 1995. Today, he runs ExitDNA which is a 90 day coaching program for entrepreneurs. The program helps entrepreneurs add strategic value to their companies to ultimately increase their exit valuation. On today’s episode Reimagining how we do business during covid-19 - 2:00How to detect business trends early? - 3:50 When to prepare your business exit strategy? - 6:55 This is the reason entrepreneurs buy existing businesses - 11:33Who would pay most to buy your business? - 14:03Is your business ready for exit coaching? - 15:50When is the best time to get exit coaching?-  19:20Signs you are ready to exit your business -  21:17The most exciting business opportunity of 2021-  26:00 Here is why the early exit is the best exit - 30:20You do not have to choose between family and business - 33:10 Key Takeaways: To detect trends early, ask yourself: What is new in the world (eg: Covid-19)? what’s going to change as a result of this new dynamic? What’s going to remain the same? What are other people doing?1 - 3 years away from an exit is the best time to start working towards your exit. Preparing your business to be sold is crucial regardless of whether or not you plan to sell it.Creating value quickly and exiting early is usually easier than selling in more mature stages.Technology today makes it much easier for entrepreneurs to create significant value fast in the early stages of the business. Large corporations often acquire small businesses in their early stages. They can focus on distribution and scaling, as the intellectual work and product-market fit has already been established by the small business. Memorable Quotes by Mac Lackey:“It doesn’t matter if you ever want to sell your company or not, what you really want is you want the option. One of the ways to create the option is to decide immediately that you’re going to be proactive about it. Once you make that mental shift those things start to happen”  Do you have an exit story? Share it with 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 Mac Lackey:Exit DNA website: Exit DNAPersonal website: https://maclackey.com/ Instagram: maclackeyLinkedIn: MaclackeyConnect with A.J. Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.comInstagram: @ajlawrenceLinkedIn: A.J. LawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

Parham Parastaran returns to Beyond 8 Figures to talk about acquisition entrepreneurship, shifting focus and his philanthropic work. Since his last visit, Parham exited his business for over $10M and now independently acquires mom and pop automotive stores. He’s also an advocate for entrepreneurs’ mental health. Catch up with Parham Parastaran on this week’s episode.On today’s podcast:Catching up with Parham since his last visit - 1:59Acquisition entrepreneurship and how Parastaran is acquiring independent stores - 6:51Merging acquired companies within your business - 9:34Activity in acquiring mom and pop businesses- 12:28How to find businesses that are selling - 17:00How the focus of an entrepreneur has changed for Parastaran - 22:23Being comfortable with not restructuring your acquisitions - 26:21Working by yourself vs working with partners/ a team - 29:33Learning from quitting and failures - 31:12How Parham stopped his limiting beliefs - 34:40How to dream big - 36:52If your business is built off of fire and not in organized steps, it will crash - 41:18Trends Parham is paying attention to - 42:36Parham’s philanthropy - 46:54Parham’s legacy - 49:14“The better psychologically sound I became, the better businessman I become.” - 51:33Key Takeaways: The goal is to make little change as possible when acquiring a businessYour second round of entrepreneurship will feel differentUntil you quit something, you don’t see what it isDon’t dream too lowTake care of your mind Connect with Parham Parastaran:Website: Perfect PainInstagram: @perfectpainbookFacebook: Parham ParastaranConnect with A.J. Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.comInstagram: @ajlawrenceLinkedIn: A.J. LawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

Business and health coach Matthew Korban returns to chat with A.J. about binding the different parts of the entrepreneurial journey. Korban talks about accountability, motivation, gaining clarity, and creating value that can make our lives better. Listen to his experiences and how he delivers promising results in harmony.On today’s podcast:Catching up with Korban since his last visit - 1:56Helping people find clarity in the new normal - 3:57Korban helps people find the real answers to their problems - 9:22How people are getting clarity amid Covid-19 - 12:50Incorporating yoga into business efforts - 19:01Why Korban decided to incorporate business and life/health coaching - 22:56What is happiness? - 30:07“Fear will never go away…it really depends on how we perceive fear and how we let fear follow us.” - 36:22How to use fear to build a life for your children - 39:10”You should be worried if you’re indifferent.” - 41:28How Korban looks at his legacy - 42:56“You can play with products, but do not play with humans.” - 47:14 Key Takeaways: Ask yourself the why’s and hold yourself accountableA lot of times we do not consider the pressure around usIt's not about being happy, it's about the actions you take to fulfill what doesHappiness is subjectiveLet the element of fear be on your side help and fuel you towards something betterConnect with Matthew Korban:Website: Matthew KorbanInstagram: @matthew_korbanTwitter: @mazey27Facebook: Matthew KorbanConnect with A.J. Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.comInstagram: @ajlawrenceLinkedIn: A.J. LawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

The importance of learning how to hire the right people and how to delegate work cannot be underestimated. It helps your business thrive and sustain a robust company culture. Nathan Hirsch is back to the show to talk about the stages of hiring effectively. He also shares his expanded knowledge on how to delegate work in the easiest way.About Nathan Hirsch:Nathan’s mission is to help busy online entrepreneurs to build more while working less with Outsource School. He sold his previous company, FreeUp, and used his experience together with all his knowledge of delegation, to help others hire the right people for the job.Episode highlights:Nathan Hirsch believes that devising the strategy of hiring is a great way to save time on taking on people. If you break this process into stages and manage them properly you will be able to go through all the stages in the fastest way. [09:03]Another good strategy to drive your business forward is to elaborate the tools to build communication within the chain of your business in the simplest but clear way. [13:43]Nathan states that not only does good hiring contribute to the professionalism of the team but it helps you opt for people you can count on. Trust is another core component in building a team since people you cannot trust can literally crash the business. [22:10]Although many people focus on their future goals, Nathan believes that it can be more helpful to take it one day at a time. [27:20]Nathan sees success as the freedom to do whatever you want whenever you want without being controlled. He also highly values the ability to help others and contribute to improving their businesses and lives. [32:10]Nathan’s advice for entrepreneurs:“Getting on top by yourself is not much fun. You should make sure that other people will get there with you. You should definitely take care of yourself first since it is difficult to help other people while you  are in debt.”Connect with Nathan Hirsch:WebsiteTwitter Facebook Follow 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. 

Will Moore, serial entrepreneur, life coach and happy expert, returns to the show to talk about happiness and wellness. Moore brings his professional experience and passion to the table to help entrepreneurs succeed in the most important business they’ll ever run: their lives. Listen to Moore share how to find and use core pillars, his upcoming wellness app and how to have a balanced, happy life.On today’s podcast:What Moore has been up to since his last visit - 1:55Becoming aware and creating an accountability system - 4:17Creating consistent feedback loops of positivity - 7:38The importance of authenticity - 12:33About Gamify Your Life, Moore’s new app  - 13:23Moore being ahead of the trends - 19:37You’re starting to see businesses understand that their employees need to be happy - 21:35What does success look like when it comes to the five pillars? - 27:10Moore creating and sharing his legacy - 30:35Moore’s upcoming programs - 35:26Wellness and technology in the future - 37:00Key Takeaways: You need to have an effective accountability systemIf you don’t change your habits and routines, you have no chanceSuccess is about figuring out what it is that you love, that you’re really good at, and making sure you’re incorporating and taking action on those things every dayFind balance in all core areas of your lifeConnect with Will Moore:Website: Moore MomentumInstagram: @mooremomentum, @5corelifeTwitter: @mooremomentum1Facebook: 5 Core LifeYouTube: Moore MomentumLinkedIn: Will MoorePodcast: 5 Core Life with Will Moore5 Core Assessment Gamify appConnect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.comInstagram: @ajlawrenceLinkedIn: A.J. LawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

David Finkel returns to the show to share practical advice on how to create owner independence through enhancing the strategic depth of your business. He casts light on the factors that impede progress and how to mitigate them. Listen today to hear David highlight the key factors that will help your business efficiently achieve its goals.About David Finkel:David Finkel is the CEO of Maui Mastermind, a leading coaching company dedicated to empowering entrepreneurs on their path to success. With a passion for helping business owners, he focuses on helping them not only build thriving companies but also regain valuable time for themselves.Beyond his role as CEO, David is a best-selling author with 12 business and financial books. His books, including "The Freedom Formula," "Making Big Money Investing in Real Estate," "Scale," "The Real Estate Fast Track," and "Making Big Money Investing in Foreclosures," offer practical guidance on achieving business success, gaining personal freedom, and mastering real estate investing, making them essential reads for anyone looking to grow their companies without sacrificing their time and well-being.Browse our curated collection of Business Books for more enriching reads.Episode highlights:The FUD (fear, uncertainty, doubt) Factor, results in tunnel vision, which interferes with your ability to grow your business. To counteract this, make sure that you surround yourself with people who can help you see the bigger picture (and if you are a leader, make sure that you do this for your team). [07:33] Grow players constantly seek new challenges while role players desire to grow within a specific position. Understanding which category each of your team members falls into is vital for keeping them motivated. [15:21]As a leader, it is your job to find the balance between flexibility and momentum within your organization. To do this, choose only 2 or 3 priorities per quarter (these should include your biggest growth-limiting factor and your biggest opportunity). [23:42]  You can’t be successful if you spread yourself too thin. As CEO, focus only on a few high-impact tasks and delegate the rest to your team. [27:13]Celebrating your successes in business is vital for keeping your team inspired. Don’t become “the parent that your staff can never please.” [34:36]Advice for staying focused on your quarterly plan: have an internal “check-in” process at regular intervals, bring in an outside set of eyes (e.g. a coach), build a company culture around your plan, and find people to hold you accountable. [38:42]To have strategic depth in a business context means to have multiple people responsible for functions so that the survival of a business is not dependent on one person. Enhancing your strategic depth and owner independence will allow you to build a truly scalable company. [48:52]David Finkel’s advice for entrepreneurs:“You need to build a community. You need to have meetings with your clients where you can hold each other advisable. Although many entrepreneurs are like lone wolves, you are still social beings and you perform so much better when you want the respect and affirmation from a group of people who we admire.”Connect with David Finkel:WebsiteTwitterFacebookFollow 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.

An accomplished entrepreneur and best-selling author, Marek Zmyslowski, returns to share his passion for renewable energy. Listen to him talk about solar energy, online business, and his goal of leaving the world in slightly better shape than it was when he arrived. About Marek Zmyslowski:Marek Zmyslowski is a successful entrepreneur and co-founder of Jumia Travel and HotelOnline.co, Africa's largest hotel booking portals. Recognized as one of the Ten Most Important People in Tech by IT News Africa Magazine, Marek serves as a Lead Mentor at Google's Launchpad and the World Bank's XL Africa Program. His hiring approach values individuals raised in challenging environments or those with a resilient spirit from overcoming adversity. Marek thrives in the early stages of business, focusing on ventures with exponential growth potential and continuously seeking the "unfair advantage."Marek shares his captivating journey of entrepreneurship and adventure in his memoir, "Chasing Black Unicorns", where he offers valuable insights into the challenges and triumphs of building a groundbreaking business in Africa, making it a must-read for business owners seeking inspiration from an extraordinary journey.For a comprehensive book review, check out this page.Episode highlights:Marek Zmyslowski reckons that one of the key tenets of success in business is commitment. You can build something significantly big if you stick to something for at least 5 to 10 years. It takes time to build a good team that aligns with the interests and goals of your business, and gain experience in a certain field.  [07:31]The comfort zone is the challenge a successful entrepreneur should overcome. While you are in your comfort zone, you are losing every business muscle that helped you achieve success previously. The complex system of tools and skills you have worked out on your path in your business journey will start degrading at some point and you might lose your growth opportunities. [17:20]One of the most valuable skills is a solution-oriented mindset. Use it to dig into the understanding of business growth, the grasp of building a brand, the skill to scale the business faster, and everything that might make your business stand out among the others. [21:49]Marek sees an ecological lifestyle as something that doesn’t clash with a luxury lifestyle. A compromise between luxury, comfort, and emotions is his direction in the solar business.  [39:21]Marek claims that it is important to find the balance between what you are lacking and what you are good at. In order to cooperate with people better than you, you have to achieve a certain level of maturity.  [47:01]Creativity comes from the constraints you put around. As an entrepreneur, you need the constraints when you play in the same sandbox for so long and you lose the ability to grow. The sandbox becomes an endless desert when there are no walls [50:03]Marek Zmyslowski’s best advice for entrepreneurs:“It’s better to be a king of a village than a minister in Rome.”Connect with Marek Zmyslowski:WebsiteInstagramTwitterFollow 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.

Business advisor, investor and mentor Chris Guerriero returns to the show to catch up A.J. and team on life since his last visit. Listen to Guerriero share advice on how to help listeners grow their business and create teams, culture, and business systems that yield multiple multimillion dollar businesses. On today’s podcast:A process for handling obstacles - 2:07Guerriero’s business investments  and main drivers for growth- 2:48“My companies are built to fill my buckets for my life.” - 4:18How do you know when you have the right person for you business? - 5:30Core competency - 9:20“The biggest obstacle in everybody’s life is lack of clarity.” - 10:48An evolutionary journey - 14:10Finding the right group of people working for your business - 17:00The marriage of online and offline tactics - 18:44Growing a business instead of searching for money - 23:41The definition of happiness - 25:42“The best thing you can do for your money is keep it where you understand it.” - 31:44Process org charts - 35:17Learning from numbers - 39:46Finding the right people that take ownership- 41:40Mentorships within businesses - 45:07Mapping org charts - 46:07Meetings run companies - 48:35Communication in business - 58:55Leave your ego at the door and ask for help - 1:06:32Key Takeaways: A majority of businesses that failed because of Covid were in shock initiallyThe main thing that drives growth in business is peopleDon’t judge people by what they think or say, only by what they doIf you put the right people together, then you’re not going to have an obstacle come upConnect with Chris Guerriero:Website: https://chrisguerriero.com/Instagram: @chrisguerriero_Twitter: @ChrisGuerriero_YouTube ChannelLinkedIn: Chris GuerrieroConnect with A.J.Lawrence:Website: ajlawrence.comEmail: aj@b8fpodcast.comInstagram: @ajlawrenceLinkedIn: A.J. LawrenceFollow Beyond 8 Figures:Website: Beyond8Figures.comTwitter: @beyond8figures Facebook: Beyond 8 FiguresInstagram:@b8fpodcastEmail: team@b8fpodcast.com

Mitch Russo comes back to the show to tell how sharing everything you know with the world can come in handy in building and what marketing trends are worth watching right now. He shares his thoughts on business transformation and development.About Mitch Russo:Mitch Russo is an entrepreneur with a background in business. He started his journey by creating a software company in his garage and selling it for 8 figures. He then worked directly with Tony Robbins and Chad Holmes having built a 25 million business together. Mitch’s philosophy is deeply rooted in building relationships with his clients and the idea that knowledge and experience should be shared with others.As a renowned author, Mitch has penned influential books, including “Power Tribes,” “Coach Elevation,” and “The Invisible Organization.” These comprehensive blueprints empower readers to achieve exponential growth, elevate coaching sessions, and establish thriving virtual companies.For detailed reviews of these exceptional books, please visit: Power Tribes, Coach Elevation, and The Invisible Organization (Book Reviews)Episode highlights:Mitch Russo shares why communication and feedback enable you to build proper rapport with your clients. Staying persistently involved in the clients’ lives is the gateway to successful cooperation and progress in your business. [10:06]Since Covid-19 started, Mitch was looking for ways to help entrepreneurs overcome the new challenges. As a result, Mitch started working with speakers, and different companies to transform all the intellectual properties into online programs and recover revenue. [18:43] Relationships are everything.  [20:25] Mitch believes that “marketing is never a matter of why but a matter of what”. As an entrepreneur, you need to explore what works and what does not by experimenting and testing. That is the best way to find the techniques, approaches, and strategies to make your business thrive. [39:21]Credibility is something you earn. You do not get it simply because you are surrounded by luxurious things. [43:30]Mitch Russo’s best advice for entrepreneurs:“You start with the assessment, because the assessment is going to tell you a lot about who you are dealing with, and the assessment starts with always the same most successful question ever invented: what kind of CEO are you, what kind of analyst are you, what kind of specialist are you? People want to know about themselves.”Connect with Mitch Russo:Website InstagramTwitterFollow 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.

You might wonder what do your feelings have to do with business management? Adam Hergenrother shares his thoughts on what success is and states that it arises from something that starts inside of you. What you feel inside when you reach your goals and your personal fulfillment are just as important as your achievements.About Adam Hergenrother:Adam Hergenrother is an entrepreneur and a coach whose principles are based on balancing success, spirituality, and relationships between people. In 2020 Adam’s business was among the top 5 hundred in 5000 with over 1000 percent growth over the past 3 years.In his book, “The Founder & The Force Multiplier,” co-authored with Hallie Warner, they offer invaluable insights into forming successful partnerships with Executive Assistants or Chiefs of Staff. This groundbreaking resource equips business owners and entrepreneurs with the tools to accomplish goals, scale growth, and achieve more as individuals and a united force.Visit our curated collection of Business Books for more enriching reads.Episode highlights:In the beginning, as an entrepreneur, you are the core of the organization. As your business grows, you need to be open to growing your team and getting help. And one day you will realize that you have amazing people who drive your business. [05:55]The hardest decisions in business are always about money and people. You should make the decisions that are best for the organization. If you cannot do that, it will be tough to be a leader from the very beginning. Clear understanding and clear expectations can help you to set the exact direction for your company and its team. [10:46]20 % of your time equals 80% of your result. You cannot spend your time on all people equally. Instead, you have to focus on those who add more value, who can give you the biggest return. [18:46]The truth is some people will love or hate your business just because of their personal preferences. It does not have to do anything with the quality of your work. As an entrepreneur, you still should build the business according to your standards, be yourself, and focus on people who share your philosophy. [60:27]Adam Hergenrother’s best advice for entrepreneurs:“You’ve got to be willing to be authentic. Give yourself permission to be you. There will always be people who love or hate you. You should not let other people’s flavors rule your own path in life and business with your standards and your culture.”Connect with Adam Hergenrother:WebsiteAdam’s PodcastTwitterFollow 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.