Beyond 8 Figures

Using networking for business is challenging, and it requires deliberate focus and effort. As Shiloh Johnson shares in this episode, if you are willing to put in the time to build a strong network of people around you, it will stand you in good stead for all your future endeavors. Shiloh also talks about the role of a leader, the value of hiring a coach, the importance of doing customer discovery properly, and more! 

About Shiloh Johnson

Shiloh Johnson is the CEO and founder of ComplYant, a technology platform offering small business owners and entrepreneurs a simple way to manage their business taxes. Rooted in the understanding that taxes can cause small business owners a lot of stress and anxiety and create barriers for small or underrepresented entrepreneurs, ComplYant’s mission is to ensure that small businesses of all colors, shapes, and backgrounds have access to effective tax support. Shiloh has raised $12.8M in venture capital funding for her digital tax assistant tool, making her one of only a few Black women to raise $10m+ in funding. 

Episode Highlights:

• Company culture is something you need to intentionally focus on as a business owner. When things are moving quickly (as they usually are when you are building a business), it’s easy for it to fall by the wayside. As a leader, it’s your job to help your team members build thriving careers while maintaining a work/life balance, otherwise, you will lose them! (07:34)
• Leverage your network by asking for referrals from people you trust. This is far more effective than a “spray and pray” approach. (10:51)
• Be discerning about the investors you work with. Taking money from someone means you are entering into a contractual agreement with them, so you want to be sure that you really understand who they are so that you know whether or not you can trust them. (14:17)
• Before you build out your product or service, put a lot of effort into figuring out who will want to buy it and what makes them tick. If you do your customer discovery properly in the early days, you’ll save yourself a lot of time and money because you will have to do less iterating down the line! (17:44)
• If you’ve learned anything on your entrepreneurial journey, share it! There are so many people out there who will benefit from hearing your stories and advice. (29:57)

Shiloh’s best advice for entrepreneurs:

Connect with Shiloh:

• LinkedIn
• Twitter
• Instagram
• Website

Follow Beyond 8 Figures:

• LinkedIn
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• Website

If you know what you need to do to take your business to the next level, but you aren’t doing it because it makes you feel uncomfortable, mindset coaching could completely change your life! Today’s guest, Elliot Roe, first experienced the power of mindset coaching when a hypnotherapist helped him overcome his intense fear of flying. In today’s episode, he explains how mindset coaching can help you develop a growth mindset and overcome whatever is holding you back from reaching your full potential! 

About Elliot Roe:

Elliot Roe is a leading expert in Mindset Optimization for High Performers and is the world’s #1 Mindset Coach for poker players. His poker clients have won over $100,000,000 and nearly every major tournament title, including the World Series of Poker Main Event. Elliot’s clientele also includes Olympic medalists, UFC Champions, Hollywood Actors, Business executives, and Wall Street traders. His unique mindset coaching system leverages the power of hypnotherapy to eliminate fears and breakthrough mental roadblocks, allowing you to operate in a state of peak performance every day. Elliot holds a graduate degree in Clinical Hypnosis and Hypnotherapy and co-founded the mobile mindset app Primed Mind.

Episode highlights:

• The best way to test out a product or a service is to use yourself as a guinea pig. Hypnotherapy helped Elliot overcome his fear of flying, and now he uses that method to help other people overcome their own challenges. (01:18)
• Staying in your comfort zone is easy, but if you want to grow, you need to push through some discomfort. Enlisting a coach will help you get through this stage quickly and effectively. (14:23)
• Business coaching and mindset coaching are two very different things. If you don’t know what strategy to use to take your business to the next level, you will benefit from a business coach. On the other hand, if you know what you should be doing (e.g., asking for investments, firing staff members) but something inside you is holding you back from doing it, mindset coaching is what you need! (20:29)
• If you’re wondering whether you need a mindset coach, think about what your discomfort is costing you. If you’re losing money because of the things you aren’t doing because of your fear of doing them, a mindset coach can help you. (28:59)
• Take self-care seriously! If you put effort into looking after yourself on a personal level, you will see the benefits in your business. Elliot sees a personal trainer, goes for massages, and sees his own coach regularly, as these are the things that put him in a good mental space. (29:24)
• Start your journey of overcoming your fears right now: think about what you hate doing and try to connect it to earlier memories so that you can understand the origins of your fear. This understanding is the first layer of the foundation from which you can switch to a growth mindset. (30:44)

Elliot’s best advice for entrepreneurs:

Resources Mentioned:

Primed Mind

Connect with Elliot:

• LinkedIn
• Twitter
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

Because of her open mind and willingness to say yes to most things, finding opportunities in the business world has never been too challenging for today’s guest, Billie Simmons! Billie is currently using her personal experiences in combination with community input to develop tools and programs that help LGBTQ+ people live their best lives. 

In this episode, Billie talks about the potential that lies in underrepresented markets, the value in finding a balance between conviction and flexibility, and why it’s not actually a negative thing that we don’t have very much control over what happens in our lives! 

About Billie Simmons:

Billie Simmons is the co-founder and COO of Daylight, a company on a mission to help LGBTQ+ people live their best lives. Previously, she founded a startup to help trans and non-binary people access safe services. Her background is in marketing and software engineering (she taught herself to code when she was 10!) at fintech-focused companies such as Techstars and Anthemis Group. 

Episode highlights:

• When life presents you with opportunities, say yes! You don’t always need to follow a set plan. Billie’s approach has always been to follow her passions and do what she finds interesting, and it has taken her to incredible places. (01:59)
• Lived experiences are the best blueprints for product development. It’s highly likely that whatever your pain points are, others have them too. So, to create something truly valuable, develop a product or service that meets your needs and improve it by listening to community feedback. (10:53)
• “Any control you think you have over your life, you don’t.” This can be a scary thought, but if you shift your mindset, it can also be a liberating one. If you stop trying to exert control and instead embrace the fact that anything can happen, you’ll be able to find joy and success in so many unexpected places. (18:50)
• Find a balance between conviction and flexibility. Whatever you are doing right now, commit to that 100%, but always be open to pivoting as you learn more about the needs of your target market. (22:05)
• If your business doesn’t turn out the way you wanted it to, don’t see that as a failure. Regardless of the outcome, the lessons that you have learned along the journey will always be worthwhile. (26:35)
• Sometimes the things you think you want aren’t actually the things that are going to make your life better. Don’t get caught up in external validation; what you think about yourself is far more important than what other people think of you. (33:35)

Billie’s best advice for entrepreneurs:

Connect with Billie:

• LinkedIn
• Twitter
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

Scot Wingo’s entrepreneurial journey can be characterized by his commitment to continuous learning! In this episode, Scot talks about the various ways in which he has deliberately worked on enhancing his business skills and the success that he has achieved as a result. The world is full of endless opportunities for learning; don’t let them slip past you. 

About Scot Wingo:

Scot Wingo is a highly accomplished 4-time serial entrepreneur, currently serving as the CEO of Spiffy, a leading provider of on-demand car care services. With an impressive 25 years of industry expertise, Scot's influence as a thought leader in E-commerce, E-service, and the future of mobility has earned him prestigious accolades, including Ernst and Young's Entrepreneur of the Year and Triangle Business Journal's Businessperson of the Year.

In his book, "eBay Strategies: 10 Proven Methods to Maximize Your eBay Business," Scot shares invaluable insights with both newcomers and seasoned eBay sellers, providing them with proven strategies to enhance success, boost sales, and optimize their businesses with efficiency and ease.

For a comprehensive book review, check out this page.

What Is Continuous Learning?

Continuous learning is the process of acquiring knowledge, skills, and insights throughout one’s life. The more we learn, the more we realize how much more there is to learn! One of the best things you can do for your business is to embrace the practice of continuous learning by seeking out new information, exploring different perspectives, and embracing ever-evolving opportunities for growth! This will ensure that you and your business are more adaptable to change, can better navigate complexities, and you are more likely to stay relevant in your field in the long term. There is no shortage of learning opportunities around you; why not start with our business book recommendations?

Episode highlights:

• Don’t neglect customer service! Post-pandemic, companies have been placing less emphasis on this element of business, but your customers are the ones who are going to sustain you. So, look after them as best you can. (21:16)
• Consumers can be divided into two broad categories: value-oriented and convenience-oriented. If you choose the one you want to serve through your business and commit to doing it properly, customers will flock to you! With Spiffy, Scot is filling a gap in the market for convenience-oriented car services. (27:10)
• Books are one of the best ways to learn lessons from the entrepreneurs who have come before you. Rather than making the same mistakes yourself, learn from the mistakes made by others (so that you can make new ones!) Read our blog for a list of our favorite business books! (33:39)
• Work hard on your listening skills so that you can really understand your clients’ needs! Making customers happy can be difficult, but if you are willing to listen intently and really take on board what people are telling you, you are well on your way to success. (34:20)
• Don’t let rejections from funders put you off your mission! Use the no’s as a learning opportunity to improve your proposal and come back stronger. (35:01)
• Don’t assume that other people understand the value of what you are selling. As a business leader, your ability to develop the skill of persuasion (i.e. sales) will do wonders for your business. To do this, Scott recommends attending pitch events and roadshows (and watching Shark Tank) so that you can learn from others. (39:01)

Scot’s best advice for entrepreneurs:

Connect with Scott:

• LinkedIn
• Twitter
• Website

Resources Mentioned:

• Good to Great
• Crossing the Chasm
• How to Fail At Almost Everything and Still Win Big
• Mad Men - The Carousel

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 are problem solvers, and Jo Goodall is using her problem-solving skills to achieve her goal of improving access to healthcare education! In this episode, Jo shares the story of how her company, Luna, came into being, how they have leaned heavily on their community to turn Luna into the invaluable resource it is today, the importance of being open to continuous evolution as a business owner, and some of the lessons she didn’t learn in business school! 

About Jo Goodall:

Jo is the co-founder of Luna, the UK's first health and wellbeing app specifically for girls and non-binary teens aged 11-17 years old. Prior to founding Luna, she was a Management Consultant at Deloitte and Strategy Manager at the fashion retailer Boden. Fun fact: she cycled solo from Yorkshire to Vienna (over 1000 miles) in two weeks! 

Episode highlights:

• Being an entrepreneur gives you the opportunity to solve problems. Jo and her co-founder realized that kids are often left to their own devices (literally and figuratively) when it comes to learning about health-related issues, and they decided to do something to change that. A good place to start your entrepreneurial journey is with a problem that you feel passionate about solving! (02:06)
• The people in your community are your greatest teachers! Let their feedback guide you to create the version of your product or service that best suits their needs. (11:58)
• The world is constantly evolving, and so should you and your business! As an entrepreneur, it’s important to be continuously learning and growing alongside your business so that it doesn’t fade into obscurity. (20:22)
• Watch your numbers closely! Business school doesn’t teach you how to manage your finances. Check your bank account, don’t overhire, and make sure you have enough cash flow to keep going - you have a real responsibility to real people when you are running a business in the real world (24:14)

Jo’s best advice for entrepreneurs:

Connect with Jo:

• LinkedIn
• Instagram
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

Finding the right talent can be one of the most complex parts of running a business. But in today’s working environment, business owners have access to a global talent pool! In this episode, John Jonas talks about the advantages of broadening your hiring horizons, why content creation is his main focus, and the value of outsourcing work as quickly as possible.

About John Jonas:

John started his career as a programmer and worked for several companies before realizing that his true passion was in building his own business. He created OnlineJobs.ph, the largest marketplace for finding Filipino workers, with almost 2,000,000 Filipino profiles in the database. To date, John has helped thousands of entrepreneurs succeed by teaching them how to replace themselves through outsourcing, a concept he expertly delves into in his book, “The Outsourcing Lever“, where he shares game-changing strategies for entrepreneurs to effectively leverage virtual assistants, increase productivity, and reclaim their time for business growth.

For a comprehensive book review, check out this page.

Episode highlights:

• Don’t give up. You might have to deal with multiple failures and very challenging obstacles on your entrepreneurial journey (for John, this was his struggle to find the talent he was looking for), but if you really believe in your mission, just keep pushing through! (04:05)
• To grow a business, you have to be willing to work through the really difficult problems. This often requires the combined skillsets of a visionary and an integrator. As the visionary, John’s role is to think about the things that are hard to think about. As the integrator, his partner’s role is to run with that and find solutions. (13:31)
• Knowing that you can always find the talent that you need is a very freeing realization. If you open up your talent pool, the opportunities for progress are endless. (15:26)
• It is possible to work 17 hours (or less) in a week; John is living proof of this! Part of how he is able to achieve this is by being fully committed to whatever task he is doing. When he’s working, he is fully immersed in his work (and that means no social media distractions), and when he isn’t working, he completely switches off from everything to do with his business. (18:21)
• Content is what drives the growth of a business. So, don’t waste time doing “busy work” (like sending emails) and instead record podcasts, send out regular newsletters, and write blog posts. (21:07)
• Contrary to the traditional advice of “stick with what you’re good at and outsource the rest,” John believes that as soon as you’ve mastered a skill to the point where you can teach someone else to do it, get that thing off your plate! This means you can focus on learning even more essential skills. (23:54)

John’s best advice for entrepreneurs:

Resources Mentioned:

• The Gap and the Gain by Dan Sullivan
• Ofstasks.com
• Ofsguide.com
• Onevaaway.com

Connect with John:

• LinkedIn
• Twitter
• Website

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. 

For the sake of your relationship with your parents, their and your quality of life, and the well-being of your business, make sure that you are planning ahead when it comes to elderly care. According to research, 30% of family caregivers miss career opportunities or have to leave their businesses, 63% are paying for care in some way, and 42% have to reduce their own contributions to their portfolios or retirement plans. In this episode, Annalee Rae Kruger explains how you can proactively deal with the inevitable fact of aging! 

About Annalee Rae Kruger:

For over 28 years, Annalee Rae Kruger has helped families navigate through aging, family caregiving, dementia progression, and care options. Everything Annalee does is with the mission of improving quality of life by helping families and their relatives age as successfully as possible. Her company, Care Right Inc., is a virtual, nationwide consultancy serving families across the US in developing customized Aging Strategies.

In her book, “The Invisible Patient,” Annalee draws upon her extensive expertise to shed light on the often overlooked aspect of self-care for caregivers. Emphasizing the significance of implementing an Aging Plan, she guides readers in alleviating financial burdens and preventing burnout. This invaluable resource equips caregivers with the tools and knowledge needed to prioritize their own well-being while ensuring the best possible care for their loved ones.

Episode highlights:

• Starting and running a business is a time-consuming endeavor, so if you want to become an entrepreneur, ensure that you are passionate about the work you are going to be immersing yourself in. Annalee always felt a connection with elderly people, and prior to founding Care Right Inc., she worked for many years in the corporate senior care space.  (02:59)
• Don’t only take action when a crisis occurs in your business. Be proactive and put plans in place so that you don’t have to scramble when things take a wrong turn. 92% of families come to Care Right during a crisis, but if they came ahead of time, they would spend less, ensure better quality care for their elderly loved ones, and decrease their own levels of stress. (08:15)
• A big part of Annalee’s job is to educate families about the aging process, what to expect, and how to plan for it. Education is a vital part of any business. Educating your customers about the pain points that your business is solving will help to build trust and subsequently convert them into paying clients. (16:23)

Annalee’s best advice for entrepreneurs:

Resources Mentioned:

The Invisible Patient by Annalee Rae Kruger

Connect with Annalee:

• LinkedIn
• Twitter
• Website

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.

35% of the American workforce is now working remotely, and studies have shown that a remote team is often more productive than its in-office counterpart. Through his company, Time Doctor, Liam Martin is on a mission to help the world smoothly transition to remote work. In this episode, he shares the approach he has taken to ensuring operational efficiency and building a business model based on referrals and why the key to managing a remote team is developing the skill of asynchronous management.

About Liam Martin:

Liam Martin is the CEO of Time Doctor, a leading time-tracking and productivity tool that helps businesses manage remote teams effectively. With his expertise, he has been featured in Forbes, Inc., Entrepreneur, Business Insider, and Fortune. He has been invited as a guest speaker at numerous conferences and events, sharing his invaluable insights on remote work and entrepreneurship.

Furthermore, Liam co-authored the best-selling book “Running Remote,” which provides strategies tailored to business owners. This groundbreaking guide delves into the mindset and strategies of remote work pioneers, empowering readers to build and scale successful organizations with seamless, freeing, and cost-effective remote work approaches.

For a comprehensive book review, check out this page.

Episode Highlights:

• In the early days of your entrepreneurial journey, you need to be the one doing everything. However, the quicker you can stop doing so many things inside of your business and transition into a more executive role, the better. “Owning [a business] is much better than running [one].” (02:35)
• Ensuring that your operational infrastructure keeps growing at a rate at which it sustains your business requires a force of will, regularly rewriting your software, and dollar investments. At Time Doctor, they invest 7 to 12% of every dollar into improving operations. (04:30)
• One of the most effective marketing strategies is one that is based on referrals. People trust people more than they trust brands, so build a product that people love so much that they will recommend it to others. (19:47)
• Studies conducted on remote work have found that it leads to an increase in productivity. The key to a successful remote company is asynchronous management, and there are various tools within the remote working stack that can be used to achieve this. (35:45)
• When hiring someone, make sure that they are aligned with the mission and vision of your company. To do this, build a Vision Traction Organizer (VTO) (i.e. a core vision document) and ensure that you give it to every potential hire to read and share their thoughts on. (40:40)

Liam’s best advice for entrepreneurs:

Connect with Liam:

• LinkedIn
• Twitter
• Website

Resources Mentioned:

• Running Remote Conference
• Running Remote on YouTube
• Running Remote

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.

Due diligence is about more than just the numbers! In this episode, Elliott Holland and A.J. discuss some of the key strategies for buying a business using A.J.’s recent deal that fell through as a case study. Elliott explains why the qualitative elements of a business are as important as the quantitative components, the value of having an advisor during the acquisition process, and how to decide whether a particular business is a good fit for YOU.

About Elliott Holland:

Elliott Holland, “reformed engineer”, the founder and Managing Director of Guardian Due Diligence, is an expert in small and medium-sized business acquisitions. He has over ten years of experience executing middle-market deals, and his company is filling the void of options that exist for smaller acquisitions. 

Episode highlights:

• If you are thinking of buying a business, create a list of (very specific) dealbreakers. These are the factors that will cause you to walk away from the deal. An example might be: “I don't feel I can run the business from day one without the seller.” (02:33)
• A QoE (Quality of Earnings) is traditionally just a quantitative analysis, but in small-medium business deals, the qualitative components are just as important. In this particular case, the downward trend in the numbers wouldn’t have been a dealbreaker if the foundational core of the business had been strong. (13:41)
• Don’t underestimate the importance of having an advisor during the acquisition process. The role of an advisor is not to say whether a deal is good or bad but rather to ask you questions that will make you think about whether you feel it is something worth pursuing. (17:56)
• Don’t believe everything you are told. Oftentimes, people attribute issues incorrectly. That is why it is so important to have good due diligence on your side. (19:17)
• Make sure that the business you buy is a good fit for YOU. There are so many businesses out there you could buy and play some kind of role in, but you need to make sure that it is the role you really want. (25:00)
• Just because we are currently in a tougher market doesn’t mean great deals can’t be done; it just means you may need to work a little bit harder, negotiate a bit better, and make sure you are getting updated financials! (37:42)

Elliott’s best advice for entrepreneurs:

Connect with Elliott:

• LinkedIn
• Twitter
• Website

Resources Mentioned:

• HLQ Score Card 

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

Even if things are going well, there’s always room for improvement; that is why Michael Kuech encourages all entrepreneurs to embrace change at every step of their journey (no matter how uncomfortable it may feel). Tune into this episode to hear about Michael’s open-minded, conscious, collaborative approach to business! 

About Michael Kuech:

Michael Kuech is an industry leader in plant-based living and transparent supply chains. Over the past decade, Michael and his partner Kristel have built their superfood brand Your Super into one of the fastest-growing companies in America. The company was founded after Michael was diagnosed with cancer at age 24 and realized how powerful food is as medicine. “You can not control everything in life, but you can control what you eat and how you fuel your body.”

Their book, “Your Super Life“, is a comprehensive guide to harnessing the natural healing potential of superfoods. With over 100 nourishing recipes featuring potent healing ingredients, Michael and Kristel empower readers to optimize their health and well-being through delicious and nutritious meals.

Get the Your Super Life book on the website or at your favorite book store!

Episode highlights:

• Always be open to change. As hard as it is to transition out of your comfort zone, it’s so important not to get stuck in your ways. When you embrace change, you increase your opportunities for success. (10:34)
• There are so many people who have had experiences that you can learn from and who would love to share their knowledge. Don’t be afraid to ask for help; if you focus too much on your own personal journey, it’s easy to lose perspective. (13:07)
• Do the right thing. Running a business doesn’t just have to be about making money; it can be a real force for good. Everybody wins if entrepreneurs adopt a conscious approach to business. (20:05)
• Cultivate a mission that is greater than yourself, and don’t lose focus! Your north star should be the guiding principle throughout your entrepreneurial journey (Michael’s is to improve peoples’ health); this is how you will create a truly sustainable business. (27:44)

Michael’s best advice for entrepreneurs:

Connect with Michael:

• Website
• Instagram
• Your Super

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.