Investing in a franchise is a smart way to diversify your portfolio, build wealth, and achieve financial freedom. That said, it’s important to remember that building, growing, and scaling a franchise business takes a lot of hard work and dedication. As Brian Beers from Prenlyn Automotive Group shares in today’s episode, a franchise is essentially a business that calls for a business-owner mindset. If you want to hear how Brian grew his small family automotive repair shop into a million-dollar enterprise, tune into this episode to hear his valuable insights.

About Brian Beers:

Brian is a seasoned entrepreneur, a podcast host, and an investor. He took his small family franchise auto repair business into an enterprise with 32 locations (and counting) and grew it from $5M to $26M in sales. The company operates franchised Midas shops throughout the Philadelphia and New Jersey region.

After years of experience in scaling a franchise business, Brian is now on a mission to help others do the same. He helps ambitious entrepreneurs build wealth and create freedom through franchising. In addition, he hosts a podcast called Business with Beers, where he shares tips with business owners who want to grow their income by investing in people, processes, and technology.

Episode highlights:

• The beauty of franchising is that once you figure out how the franchise model works, you can repeat the process over and over again. It’s essentially a rinse-and-repeat approach that helps you grow more rapidly and add new markets successfully. (05:07)
• Successful entrepreneurs challenge themselves, fight their limiting beliefs, and constantly strive to overcome challenges. They aim for progress over perfection, which allows them to get ahead in life and build long-lasting success for their businesses. (07:08)
• True leaders elevate and inspire others. They support their professional growth and help them develop the necessary skills to achieve their full potential. This kind of leadership boosts motivation, creates a positive culture, and ultimately increases the team’s performance, leading to unparalleled success and business growth. (08:51)
• The best part about franchising is that there's something for everyone. Once you figure out what success looks like for you and what you want to achieve in life, you can find the right franchise opportunity that will fit your long-term goals. (19:30)
• Even though franchising has a lot of benefits, it’s not the easiest way to run a business. You can’t invest in it and forget about it. The real work actually starts after you’ve bought it. As an actual business venture it requires constant work and commitment to grow and become a sustainable revenue source. (25:49)

Brian’s best advice for entrepreneurs:

Connect with Brian: 

• Twitter
• LinkedIn
• Personal Website

Resources Mentioned:

• Business with Beers Podcast
• Midas: Prenlyn Automotive Group

Follow Beyond 8 Figures:

• Linkedin
• Twitter
• Website

If you want to diversify your revenue streams and get into business ownership without starting a new company from scratch, investing in a franchise might be a good option for you. But how do you find the right franchise opportunities? In today’s episode, Jon Ostenson and A.J. explore franchise opportunities to help you grow your entrepreneurial journey. They also dive into the smartest tactics for matching your long-term goals to your franchise investment, how to prepare to break into franchising, and why investing in a franchise is a wise choice.

About Jon Ostenson:

Jon Ostenson is a Certified Franchise Consultant and a top 1% consultant/broker nationally specializing in non-food franchising. As the Founder and CEO of FranBridge Consulting, he has helped thousands of entrepreneurs and investors understand all aspects of non-food franchising and explore different business ownership opportunities. You’ll find his insightful contributions in well-known publications like Forbes, Inc., The Franchise Journal, and Franchise Connect, where he writes about franchising and franchise investments.

Drawing on his experience as a multi-brand franchisee and his background as an Inc. 500 franchisor, Jon authored the book called “Non-Food Franchising: The Better Path to Business Ownership.” Addressing key topics such as strategic opportunity selection, semi-passive business models, and financial potential, this book is an essential resource for aspiring entrepreneurs, underscoring why non-food franchising is the optimal route to successful business ownership.

For a comprehensive book review, check out this page.

Episode highlights:

• Fast food businesses are not the only franchise opportunities you can explore. Non-food franchising could be a much better path to business ownership as they’re often necessities that people can’t go without, like dumpsters, children's apparel, or pet stores, which makes them more lucrative and sustainable. (03:43)
• Franchising is a great way to create multiple income streams and diversify your investment portfolio, helping you build long-term wealth and secure revenue. It’s ultimately about not putting all your eggs in one basket but allocating your money across different investments. (05:49)
• Having a good manager for your franchise is a game changer. It takes the burden off you without sacrificing the quality of business operations. (07:59)
• Every entrepreneur is different. So, it’s important to identify your own business WHY to understand which direction you want to take next in your entrepreneurial path and then unlock a franchise opportunity that will fit those goals. (14:07)
• When you’re preparing to invest in a franchise business, it’s critical to first research and identify market gaps where the customers’ needs are not being met. Then, start thinking about how you could solve their pain points with the right business. Only once you’ve uncovered the right opportunity can you start working on the funding piece and the actual paperwork for owning your franchise. (18:13)
• Even though some businesses don’t seem that intriguing at first glance, what matters is that they’re necessities on the market. They have real franchise potential and are more likely to stand the test of time. (22:43)

Jon’s best advice for entrepreneurs:

Connect with Jon: 

• LinkedIn
• Twitter
• Facebook

Resources Mentioned:

• Non-Food Franchising by Jon Ostenson
• Sign up for the monthly newsletter to receive a free copy of Jon's book and/or for a free franchise consultation at FranBridge Consulting
• Franchise Gator

Follow Beyond 8 Figures:

• Linkedin
• Twitter
• Website

Affiliate 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.

Entrepreneurs often sacrifice their sleep time to grow their businesses and chase their dreams. However, sleep is vital for your mental and physical health. That’s why it’s important to learn to optimize sleep to set yourself up for success and improve your well-being. In this episode, Mollie Eastman (McGlocklin) sheds light on the forgotten skill set of sleep and how we can optimize sleep through technology and behavioral change.

About Mollie Eastman (McGlocklin):
Mollie Eastman (McGlocklin) is the creator of Sleep Is A Skill, a groundbreaking company that helps people sleep better through a unique blend of technology, accountability, and behavioral change. After struggling with insomnia herself for years, she decided to take matters into her own hands and create a place for learning the skill set of sleep.

With a background in behavioral change from The Nonverbal Group and personal experience with overcoming sleep deprivation, Mollie is now on a mission to spread the skill set of Sleep through Circadian Biology. She also hosts her own podcast called The Sleep is a Skill, writes an educational sleep newsletter, Sleep Obsessions, and has a sleep course, Optimize Your Sleep.

Episode highlights:

• Healing your relationship with sleep can do wonders for your entrepreneurial lifestyle. Not only can it make you more productive and focused, but it can also help improve your overall health. (06:20)
• Successful entrepreneurs are the best problem-solvers. They find a problem, and they become a solution. How do they do that? By staying laser-focused on their niche and fixing its most burning issues.  (8:42)
• Digital tools are a great way to optimize sleep and outsource self-care, which is a win-win for busy entrepreneurs. For instance, Mollie suggests using the Oura ring as a good starting place for those looking to prioritize their sleep and improve their sleep quality because it tracks your sleep cycle and provides helpful data. (15:18)
• Your circadian rhythm dictates your wake-sleep cycle, but it also plays a vital role in your overall well-being and business performance. To stay on top of your game, it’s important to learn to regulate your circadian rhythms by keeping a consistent sleep schedule, getting enough light exposure, and moving your body daily. (21:24)
• Exposure to morning sunlight can significantly improve your sleep quality, performance at work, and overall health. By getting at least 30 minutes of sun when you wake up, you can balance your circadian rhythm and kickstart your body’s sleep-wake cycle, leading to positive changes in your sleep patterns. You also set yourself up for a productive day and peak performance.  (25:17)
• Consistency is key to healthy sleep. Going to bed and waking at the same time every day can drastically improve your sleep, strengthen your body’s immune system, and ultimately help you achieve maximum productivity and focus, that are so needed in business. (31:31)
• There are countless ways to optimize your sleep. From shifting your sleep-wake cycle to tracking your sleep, you can leverage different tools and try out different methods to make a huge impact on your sleep efficiency. And improved sleep means better mental capacity to grow your business and guide your decision-making. (45:11)

Mollie’s best advice for entrepreneurs:

Connect with Mollie: 

• Instagram
• LinkedIn
• Twitter

Resources Mentioned:

• Oura Ring
• Sleep is a Skill
• Biostrap
• Muse Headband
• Breath: The New Science of a Lost Art by James Nestor
• Time Shifter App
• The Sleep Is A Skill Podcast

Follow Beyond 8 Figures:

• Linkedin
• Twitter
• Website

Affiliate Disclaimer: Please note that this episode contains affiliate links, and if you make a purchase through those links, we may earn a small commission at no additional cost to you.

Running a business is not just about making money; it’s also about creating long-term value for your customers. That’s why it’s critical to focus on your business purpose and be deliberate about your growth. In today’s episode, Chris Younger explains why it’s never too early to start planning for exit, how to use your WHY to build a scalable company and the importance of finding the right talent.

About Chris Younger:

Chris is the CEO and Co-Founder of Class VI Partners, a company that provides investment banking and financial advisory services to middle-market businesses and entrepreneurs. He founded the company with a grounding mission to empower and celebrate entrepreneurs he believes are essential to our communities. With over 25 years of growing, acquiring, and selling businesses, Chris brings a wealth of expertise and understands the rocky entrepreneur’s journey well. He is passionate about helping business owners match their personal goals to their business planning and build a business that serves them. 

He also co-authored "Harvest: The Definitive Guide to Selling Your Company", a step-by-step resource he crafted with David C. Tolson. This book offers crucial insights for business owners to achieve maximum value and create effective exit strategies, highlighting the immense rewards of thoughtful business planning.

For a comprehensive book review, check out this page.

Episode highlights:

• Team building is one of the most important investments that a business can make. Not only does building a team help you scale faster, but it also improves your life as an entrepreneur as it allows you to focus on your area of expertise and maintain a more healthy work-life balance. (02:02) 
• Identifying talent gaps in your organization is critical to the success of your business because when you do it, you’ll able to bring the right people on board and match them to the right roles. Having the right operating talent by your side is the recipe for success in driving the business forward and making sure it runs smoothly. (04:25)
• Running a business is not just about making money; it’s about creating long-term value for your customers. That’s why it’s critical to focus on your WHY and the deeper purpose behind your business while you scale it. (10:32)
• It’s never too early to start planning your business exit. Being intentional and deliberate about your business from the start is an effective growth strategy that will help you build a healthy business with a clear purpose. (14:38)
• For some business owners, selling a business is not the best idea. There could still be enormous growth and profitability potential in their company, so in those cases, it might be a better idea not to sell and instead continue building wealth within the business. (26:21)
• Artificial intelligence is transforming every industry. That’s why businesses need to learn to use it to their benefit instead of turning a blind eye. Depending on the nature of your business, AI can be a practical and cost-effective tool for improving efficiencies, saving significant costs, and speeding up operations. (31:05)

Chris’ best advice for entrepreneurs:

Connect with Chris: 

• LinkedIn
• Email Chris at [email protected] 

Resources Mentioned:

• Harvest: The Definitive Guide to Selling Your Company by Chris Younger & David Tolson
• Start with Why by Simon Sinek
• The WHY Project
• Class VI Partners

Follow Beyond 8 Figures:

• Linkedin
• Twitter
• Website

Affiliate 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.

As a business owner, you’re the heart and soul of your organization. That’s why your professional growth and development are critical to its success. In today’s episode, Samantha Kempe gives her unique insights into the importance of self-reflection, continuous learning, and leadership skills development for business owners and executive leaders.

About Samantha Kempe:

Samantha is the Co-Founder and Chief Investment Officer of IMMO Capital. This real estate fintech is disrupting the real estate sector and the residential investment market through groundbreaking technology solutions.

With over a decade of industry experience, Samantha specializes in identifying promising investment opportunities and managing risk in a constantly evolving market. In 2017, she co-founded IMMO to unlock the SFR market for institutional investors. Since then, Samantha has been continuously committed to growing the company through her professional development and growth.

Episode highlights:

• For business owners, personal development is a never-ending journey. Running a business requires continuous learning and improvement from the leaders because they need to adapt to the changing environment. If you want to grow your business, you should aim to constantly evolve and improve yourself with it as well as your leadership skills and your overall organization. (02:16)
• Self-reflection plays a key part in your personal and professional development. All the best leaders constantly reflect on things that have gone well, but most importantly, things that haven't gone well. This approach helps identify key problems in the business as well as find tailor-made solutions. (03:56)
• Other than working with a professional coach on developing your leadership skills, listening to your peers, investors, and clients is equally essential. Transparent feedback can help you identify your key strengths and weaknesses as well as understand how people perceive your impact as a leader. From there, you’ll have a better foundation for further professional development and growth.  (05:26)
• When things get tough, it’s important to have someone to lean on and ask for advice on your problem, whether that’s a professional coach or someone on your team. When you articulate your thoughts and talk through the process of the problem, you often end up solving the problem on your own. (08:15)
• The real estate sector is one of the most undisrupted categories in the market, so companies like IMMO are innovating in this field with unique technology solutions and data tech-focused approaches. They are a perfect example of how much a business is able to grow when is managed by driven entrepreneurs and committed industry leaders. (11:36)
• Customer happiness is key to a thriving business, but employee satisfaction is just as important. Satisfied employees are engaged and motivated, so they’re able to go the extra step in delivering a superior customer experience, ultimately leading to happier customers. (24:07)

Samantha’s best advice for entrepreneurs:

Connect with Samantha: 

• Linkedin
• Facebook
• Instagram

Resources Mentioned:

• IMMO Capital
• IMMO on LinkedIn
• IMMO on Twitter
  
  

Follow Beyond 8 Figures:

• Linkedin
• Twitter
• Website

Building an online marketplace platform is easy, but building a successful marketplace business that stands the test of time is another story. In today’s episode, we get to hear from Juho Makkonen as he dives deep into the ins and outs of marketplace business models, from developing your idea into a fully functional marketplace platform to achieving balanced and sustainable business growth.

About Juho Makkonen:

Juho Makkonen is the CEO and Co-Founder of Sharetribe, an innovative software company. This company aims to help aspiring entrepreneurs get their marketplace businesses off the ground in the spirit of sharing economy platforms such as Airbnb, Etsy, and Fiverr.
 
Moreover, as a co-author of "The Lean Marketplace," Juho equips aspiring entrepreneurs and business owners with indispensable insights to build successful online marketplaces, whether they are startups, cooperatives, non-profits, or established brands, offering a practical roadmap for creating sustainable and thriving businesses in the sharing economy.

For a comprehensive book review, check out this page.

Episode highlights:

• Not all entrepreneurs are tech-savvy coders, so it’s important to make marketplace building accessible to everyone and help them turn their ideas into a reality. (02:35)
• Prioritizing between purpose and profits is not easy, especially in the competitive market of today. But companies like Sharetribe are still choosing to do so by democratizing the platform ownership and making a great impact. (09:40)
• It’s very much possible to build a profitable business that serves the community, which doesn’t have to be a unicorn or the next big thing, as long as it helps solve a problem. (25:30)
• The goal of marketplace businesses is to eliminate the middleman and bring buyers and sellers together. So, by taking care of the technology aspect of online marketplaces, we’re actually democratizing platform ownership. (31:15)
• Building platforms is easy, but if you don't have the necessary knowledge and a strong team by your side, then it becomes much more challenging. (34:01)

Juho’s best advice for entrepreneurs:

Connect with Juho:

• Twitter
• LinkedIn
• Mastodon

Resources Mentioned:

• Sharetribe
• The Lean Marketplace: A Practical Guide to Building a Successful Online Marketplace Business by Juho Makkonen and Cristóbal Gracia
• Holacracy: The New Management System for a Rapidly Changing World by Brian J. Robertson
• Reinventing Organizations by Frederic Laloux

Follow Beyond 8 Figures:

• Linkedin
• Twitter
• Website

Affiliate 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.

Building wealth through acquisition entrepreneurship is becoming more and more predominant among business owners and those yet to leap into entrepreneurship. Instead of starting a business from zero, acquisition entrepreneurs start by buying an existing operation and then using their knowledge to create a greater impact. In today’s episode, our guest Ben Kelly shares his unconventional journey of entrepreneurship through business acquisitions. He talks about the many benefits of buying a business, why it’s such an incredible business opportunity, and what it takes to become a successful acquisition entrepreneur.

About Ben Kelly:

Ben Kelly is an inspiring acquisition entrepreneur who acquired and scaled five businesses with little to no cash upfront. Ben went from being a former Army Intelligence Officer to serving JPMorgan Bank’s largest clients as a Private Banking Associate. He then took more control of his career by founding a fitness SaaS startup with a fellow army veteran and jumping into entrepreneurship. Currently serving as the head of Acquisition Ace, Ben is committed to building a portfolio of healthy businesses and helping others do the same - all through the increasingly popular acquisition entrepreneurship model.

Episode highlights

• Acquisition entrepreneurship is an incredible business opportunity for building true wealth, achieving financial freedom, and finally, living the life you’ve always wanted to live.  (02:37)
• Anyone can pursue entrepreneurship through acquisitions, but not everyone can make it in the field. But as long as you’re ready to roll up your sleeves, you don’t have to be an expert in everything to thrive as an acquisition entrepreneur. (06:57)
• There are many benefits to buying an existing business instead of starting a new one from scratch. You can piggyback off someone else's hard work and vision, get in the driver’s seat, and hit the gas pedal. (13:00)
• Success looks different for everyone, especially in business. But you shouldn’t tie your success in acquisition entrepreneurship to just numbers; instead, aim to discover an alternative means to an end to keep yourself going. (27:34)
• Anyone can acquire a business, but not everyone can be great at it. Having the right mindset and being open-minded are just some of the traits that show you’re cut out to be an acquisition entrepreneur. (30:22)

Ben’s best advice for entrepreneurs:

Connect with Ben:

• Twitter
• Instagram
• LinkedIn

Resources Mentioned:

• Acquisition Ace Applicant Call
• Ben’s YouTube

Follow Beyond 8 Figures:

• Linkedin
• Twitter
• Website

As businesses grow, they become more complex and overwhelming (especially for you as the owner), so sometimes, you need to simplify your business to achieve long-haul success and sustainable growth. In today’s episode, our guest Margo Crawford shares her entrepreneurship journey to building effective business processes, developing leadership succession, and reconnecting to her company’s purpose - all by keeping things smart and simple.

About Margo Crawford:

Margo is the Founder & Chair of the Business Sherpa Group, a management consulting firm helping SMEs thrive and succeed. With over 20 years of experience in the field, she is the go-to expert for small and mid-sized businesses looking to build the right foundations and pave their way to the top.

Episode highlights:

• Running a business is a team job. Relying on one person for everything creates fragility in the system and leads to stressed-out employees. That’s why it’s so important to put effective systems and processes in place. (05:58)
• As a business owner, you want to feel confident you’re passing over the business torch to the right person. So, take your time to find a trustworthy leader because leadership succession takes time. (13:24)
• Sometimes all you need to do to take your business to another level is to work with someone who’s been through the reps. You need to work with people who have the knowledge and experience to help you get to the next step in your entrepreneurship journey. (27:49)
• Being a business owner is a mug’s game. Over time, you start tying your identity around your business’ financial metrics, successes, and failures. You eventually become your business. (30:05)
• It’s important to stay connected to your company’s purpose in all stages of growth. Instead of attaching your identity to the numbers, tie it to the core purpose and values. (31:06)

Margo’s best advice for entrepreneurs:

Connect with Margo:

• LinkedIn
• Twitter
• Facebook

Resources Mentioned:

• Business Sherpa Group Resources
• Business Sherpa Group on LinkedIn
• Business Sherpa Group on Twitter

Follow Beyond 8 Figures:

• Linkedin
• Twitter
• Website

To scale up your business, consider finding a coach who resonates with you! As Jess Stewart (serial entrepreneur and coach) explains in this episode, there are many different types of coaches out there, and to really get the most out of a coaching experience, it’s important that the person you choose is on board with your mission, understands your business and is willing to meet you where you are at. It is equally important that you truly understand yourself and your goals and you are willing to put in the work! 

About Jess Stewart

After moving to a small town with her husband, Murt, a lack of available jobs led Jess to start a medical billing software company from her kitchen table with two young children under her feet. Though she knew nothing about medical billing when she started, those tough times taught her how to assemble a company and leadership team that operated on world-class systems. Fifteen years, two national locations, and one international division later, Jess sold that company at an exceptional price point. Today, Jess is devoted to sharing what she’s learned through her coaching company, Jess Stewart LLC. She brings world-class, proven tools and long-term resources to help leadership teams scale up, run better businesses and live better lives.

Episode highlights:

• You don’t have to make all the business mistakes yourself. Many people have been in your position before you; learn from them so that you can make your own mistakes and progress faster! (07:40)
• Whatever stage of your business journey you are in, you can benefit from a business coach. But don’t just work with anyone; it’s very important to find a coach who resonates with you and your mission (and this starts with truly understanding yourself!). (09:11)
• Business coaching is an investment. To get the most out of the experience, it’s important that you continually show up and do the work. That is how you win in the game of business! (15:12)
• Having an operating system is essential for scaling up a business because of the structure it provides. There are a variety of systems to choose from, and it’s essential that you choose the one that suits you where you are currently at in your business. To figure out which one is right for you, make sure you understand the leadership team behind the platform and the kind of businesses they are experienced in working with. (19:48)
• From day one of your coaching experience, you should feel like you are getting value out of it. If day one goes well, Jess recommends committing yourself to the process for a year because it takes time to see real changes take place. (26:15)

Jess’s best advice for entrepreneurs:

Special Offer:
Get 25% OFF Jess Stewart’s mastermind class! Use the code SUCCESS and email her at [email protected].

Connect with Jess:

• LinkedIn
• Instagram
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

In this episode, Curro Romero opens up about the humbling experience of transitioning from the world of snowboarding to the world of business, drawing parallels between the two. We explore the importance of continuous growth, both personally and professionally, and the excitement that comes with innovative thinking and doing things differently.

About Curro Romero

Curro Romero is the CEO and founder of Vimbu, an innovative mobile and web app connecting skiers and snowboarders directly with instructors. Considered the "Airbnb of ski lessons", the Vimbu app connects learners with highly qualified instructors in a range of sports, including skiing, snowboarding, and also various summer sports. Vimbu focuses on delivering a personalized and convenient experience for users of all skills. The company raised a VC funding round recently and entered into partnership with Decathlon, the world's largest sporting goods retailer in a bid for global expansion.

Episode highlights:

• In life and in business, there will always be more to learn and a new goal to achieve. To progress in the entrepreneurial world, be humble enough to understand that “you don’t know what you don’t know” and never get too comfortable! (8:53) 
• How the concept of "progression" from a beginner to a pro in snowboarding helped Curro get excited about growing in business and stacking accomplishments while being humbled. (9:31) 
• Building a thriving business isn’t something that can be done on the fly; it requires a lot of deliberate research! Ensure that you understand your customers, your team members, and yourself so that you can give your company the greatest chance of succeeding. (22:22)
• One of the most important things for a business especially in its early stages is making sure the people you add to your team are a perfect fit for your vision. (23:19)
• The success of an entrepreneurial journey isn’t only defined by how well your business does or how much you sell it for. The enjoyment that you get out of it is also a valuable measure of success! (36:19)
• For Curro, success is all about satisfaction: deriving satisfaction from having fun in your work and being present with family, as well as personal growth and self-development. (37:49)

Curro’s best advice for entrepreneurs:

Connect with Curro:

• LinkedIn
• Instagram
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website