On today’s podcast, I’m talking with Lloyd Wolf. We’re talking about how he took his freelance IT company and turned it into a full-time IT service company. Not only did this take talent and know-how, but it also involved a change in his mindset. We also get into how a peer group helped him focus on the right things, how he shifted his mindset from annual profit to EBITDA and value creation, and how and when he realized that he “made it”.

We are entering a new normal with Post COVID but the guest on the show today has lived through various business models, recessions and he was still able to eventually get what he wanted from the business. Lloyd was VERY intentional with his strategies and where he was spending his time, energy and money.

It’s official, I’ll be changing the name of this podcast from the Life After Business Podcast to The Intentional Growth Podcast. We’ll be launching the change on the 200th episode. It has been a huge decision for me because, after all these years, I’ve grown as an individual as I’ve learned about valuations, value growth, even more about business, the economy, just tons of personal and professional growth. My original and current desire for my listeners is for you to be able to get all the information you need in order to make your own decisions so you can choose your own adventures. That comes down to being intentional.

 

What You Will Learn In Today's Podcast Interview:

Our definition of a successful entrepreneurial journey

How to shift your mindset from being an accidental entrepreneur to an Intentional entrepreneur

The 3 things most important things to help you get intentional and successfully get what he wanted out of and exit

How Lloyd used CEO Peer Groups as a way to level up his game

What happens after you shift your mindset away from solving for annual profit to solving for long term value creation

How to remove yourself from the day to day of the business

Ways to calculate your financial freedom number WHILE you own the company

The difference between enterprise value and net proceeds

Why different buyers want different things

How to analyze the motives of the buyer against your personal drivers and financial targets

How to create a “deal package” even if you don’t plan to sell for years

What to do say when you get those phone calls and someone wants to “offer you a ton of money”

 

Main takeaway:

I believe you can get what you want from your business on all fronts. It’s going to take hard work but--I promise you--it’s worth it. Go to ARKONA.IO/Assessment or text 66866 to take a two-minute, twenty question assessment that we’ve created to help you shift your mindset and focus on value-creating activities that will help you get what you want with your business.

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We created a video series called Mastering Your Cash Flow that helps you get clear visibility into your cash flow and build a financial strategy that allows you to capitalize on the future opportunities that come from the crisis

 

What You'll Learn in the Mastering Your Cash Flow Video Series

How to Build a 13-Week Cash Flow Statement: Get clarity on where and how your cash is coming from and being used and then build a plan to manage it wi