Unlike start-ups, the failure rate of acquired businesses is minimal. As Lisa Forrest explains in this episode, we are currently in the perfect environment for acquisition entrepreneurs to thrive! Tune in today to hear about the factors that are coalescing to create a solid foundation for acquisition success and what it will take to make your mark in the business acquisition space from someone who really knows!

About Lisa Forrest:
Lisa Forrest is a Co-Director of Sponsor Finance/Searchfund Lending at Live Oak Bank. She has over 30 years of experience in the banking industry, in both SBA and Conventional lending products focused on the unique needs of lower middle market businesses. She is widely regarded as one of the industry's "go-to" resources nationally for her expertise in M&A deal structuring for the Searchfund ecosystem. She is also an avid golfer, outdoor enthusiast, and dog lover.

Episode highlights:

• The “silver tsunami” (the term that is used to refer to the mass retirement of the baby boomer generation) is upon us, which means that it’s time for acquisition entrepreneurs to step up to the plate. If you’ve been considering this path, take this as your sign to go for it! (08:50)
• To make your mark as an acquisition entrepreneur, develop your own voice and point of view in the space, and learn how to do your own cash flow. These are very powerful tools that decrease your dependence on outside parties. (10:52)
• Every economic phase has its own unique qualities. During this current phase, cash flow is king. So, make sure you’re not overpaying or overleveraging. (26:49)
• The failure rates of starting a business from scratch are huge. In comparison, very few acquired businesses fail. So, if you want to increase your chances of success, acquisition entrepreneurship (particularly via the SBA route if you are based in the US) might be a better option! (29:24)
• Just get started! If you’re interested in acquisition entrepreneurship, stop thinking about it and take the leap. One of the best ways to start is to connect with someone experienced in the space (like Lisa if you live in North America). (41:20)

Lisa’s best advice for entrepreneurs:

Connect with Lisa:

• LinkedIn
• Twitter
• Email

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

Choosing the entrepreneurial route requires navigating uncertainty, being prepared for chaos, and being open to continuous learning and adaptation. In this episode, Sartou Djibril, co-founder and CCO of Enlight Ed, explains how building a strong team, listening to your target audience, and remaining humble can make the journey more advantageous for everyone involved! 

About Sartou Djibril:

Sartou spent most of her career working for tech companies, helping businesses and organizations to adopt digital solutions to achieve their goals. Today, Sartou is the co-founder and CCO of Enlight Ed, a two-end virtual tutoring platform that increases efficiency for students and teachers. 

Episode highlights:

• The startup world is a lot more uncertain than the corporate one, and people aren’t always going to be ready for your ideas. Succeeding in this space requires patience, continuous learning, and making the most of the chaos. (12:12)
• From the beginning of your entrepreneurial journey, focus on building a strong team. Without this foundation, it will be very difficult to get your business to where you want it to be. (27:51)
• Experience is the greatest teacher. You can learn as much theory as you like, but until you actually put something into practice in the real world, you won’t have the full picture. (28:49)
• Build your business based on what your target users actually want, not on what you think they want. The only way to do this is by interacting with those users, listening to their insights, and adapting your offering as you learn from them. (30:36)
• Despite how it may appear, arrogance and pushiness do not have to characterize your approach to entrepreneurship. You can be strong and still remain humble and treat people with care. (41:20)

Sartou’s best advice for entrepreneurs:

Connect with Sartou:

• LinkedIn
• Twitter
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

Revolve your life around your business, and you are destined to suffer. To avoid burnout, build a life outside of your business that feeds your spiritual, emotional, mental, and physical well-being. Sean Si has mastered the arts of counterbalancing and leadership development; tune in today to hear it all! 

About Sean Si:

Sean Si is a serial entrepreneur, angel investor, author, blogger, keynote speaker, web developer, SEO specialist & thought leader. He is the CEO and Founder of SEO Hacker, an expert SEO company in the Philippines with a team of over 50 people (mostly millennials and centennials) in-house.

Episode highlights:

• When hiring, make sure you have clear job descriptions, KPIs, and examples of “what winning looks like.” Having a process like this in place will ensure that you build a solid team from the get-go. (11:07)
• To be more deliberate on your entrepreneurial journey and stay on track with your goals, build consistency into your life. You don’t have to stick to a perfect routine; just do what you can! (22:29)
• Work hard, play hard! We all need counterbalances to our work because burnout is unpleasant and unhealthy. So, be mindful of how you spend your time and ensure that you are doing things that fuel you spiritually, emotionally, mentally, and physically. (27:22)
• Invest in leadership development within your organization. A business led by people who are focused on fulfilling their role of serving others will be unstoppable. (46:07)

Sean’s best advice for entrepreneurs:

Resources Mentioned:

Developing the Leader Within You by John Maxwell

Connect with Sean:

• LinkedIn
• Twitter
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

This is episode 100! Through personal experience and learning from the guests who have been on the show over the past 99 episodes, A.J. has developed the concept of Deliberate Entrepreneurship, a set of six principles that are key to becoming the best version of your entrepreneurial self. To hear real-world examples of how past guests are putting these principles into practice along their own entrepreneurial journeys, tune in today! 

Episode highlights:

• Your journey as a Deliberate Entrepreneur starts with clearly defining your vision. This vision is the purpose that will keep you motivated through the ups and downs of your entrepreneurial journey. (03:52)
• Set goals (lots of them!). Goals are the things that keep you on track (i.e. moving toward your vision). Without goals, it’s easy to fall into the trap of “shiny object syndrome.” (04:34)
• Focus on progressing 1% a day rather than looking for quick wins. If you put in the effort to move your business forward slowly and steadily, you will go much further in the long run. (09:24)
• Being a Deliberate Entrepreneur isn’t just about running a business; it’s also about the life you live outside your business. Pay attention to your well-being and happiness, check in with yourself regularly, and make sure that your actions align with your values. (14:51)
• Whether you run a large company or you are a solopreneur, the people around you are essential to your success. Your community, your team, your customers, your mentors; make sure that you always prioritize them. (19:00)
• When you approach entrepreneurship in a deliberate way, you free up a lot of time that would have otherwise been wasted. With this additional time, you will be able to put more effort into the actions that create the most value. (25:00)

A.J.’s best advice for entrepreneurs:

"As entrepreneurs, there's infinite amount of work and finite amount of resources. And the practice of being deliberate, being a deliberate entrepreneur, allows me to focus more on what's gonna create that value." (21:18)

Guests Mentioned:

• Elliott Holland
• Laurie Barkman
• Dru Riley
• Nima Tisdall
• Mike Smith
• Dora Palfi
• Craig Cecilio
• Dominnique Karetsos
• Kara Goldin 
• Kevin Lee
• Gabe Galvez

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

If your company culture is strong, your business is well on its way to scaling success. So, don’t just think about what your team can do for you, but also what you can do for your team! In this week’s episode, Justin Fenchel, the co-founder and CEO of BeatBox Beverages (which makes “the world’s tastiest portable party punch), shares his advice on successfully scaling a business. 

About Justin Fenchel:

Justin is a disruptor in the alcoholic beverage market. Before starting BeatBox Beverages, Justin spent five years as an equity analyst. Now, as the CEO of a company that combines two of his favorite things, music and parties, he is in his element. 

Episode highlights:

• Getting from stage one to stage two in business is completely different from getting from stage two to stage three (and so on). Each step of business growth is unique, so find mentors who have been through these stages before so that you can learn from their experiences. (07:29)
• People often think they can’t talk about their ideas because someone will steal them. Justin has a different opinion: don’t hide your ideas; shout them from the rooftops because collaboration is vital to the success of an entrepreneurial venture. (08:56)
• Create a culture of sharing bad news, not just good news. When you’re scaling, you can hide in the things that are going right. However, to build a sustainable business, you need to address what’s going wrong. (11:57)
• Ensure that your team members know that you value them by understanding their goals and helping them reach them. When people feel valued, they will be more motivated, and a motivated workforce will allow your business to thrive. (20:51)

Justin’s best advice for entrepreneurs:

“[Our team] feel valued. They’re not a number. They all have their own desires and goals, and we are doing the best we can to help them to get there. And that’s allowed this machine to move really fast forward.” (20:51) 

Connect with Justin:

• LinkedIn
• Twitter
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

When you set clear goals, it’s much easier to stay motivated (and therefore satisfied) on your entrepreneurial journey. In this episode, the CEO of Transformify, Lilia Stoyanov, shares her approach to goal setting, the importance of getting experience before going out on your own, and why you should always pay attention to the numbers!

About Lilia Stoyanov:

Lilia Stoyanov is an angel investor and the CEO of Transformify, a revolutionary HR software and freelance platform. As a visionary leader who built a ”hiring one-stop shop,” Lilia has received many awards, including the 2018 Female Entrepreneur Enterprise Award, the 2017 First Women Award, and the Top 10 Fintech Innovations Award. 

Episode highlights:

• Ask yourself what you want and get clear on the answer. It's much easier to plan your roadmap to success when you have clarity around where you are heading. (06:57)
• Pay attention to the numbers! If you don’t focus on profitability and sustainability, the value of your business can come crashing down overnight. (07:47)
• Get as much experience as you can before you start your own business. There are certain things that you need to know to be able to succeed, and you can’t learn those things in school. (24:22)
• Fill your life with learning opportunities. Read books, listen to podcasts, and nurture relationships with knowledgeable people; this is how you will grow as an entrepreneur. (26:44)
• Goals keep people motivated and motivated people are more satisfied at work. To enhance the level of satisfaction within your business, set measurable, well-defined goals for yourself and your team members that can be achieved within the space of a few months. (37:30)

Lilia’s best advice for entrepreneurs:

“It’s impossible to be good at what you do if you isolate yourself. You need to speak with other entrepreneurs, with people who are successfully managing businesses. You need to learn from them.” (27:02) 

Connect with Lilia:

• LinkedIn
• Instagram
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

In this final episode for 2022, A.J. shares a brief recap of some of the highlights of the Beyond 8 Figures journey, what you can expect from us in the future, and how to make 2023 your best year as an entrepreneur to date! 

Ready to level up as an entrepreneur? 

Deliberate Entrepreneurship can help you stay focused, overcome challenges, and achieve your goals. By joining our community, you'll gain access to valuable resources, accountability, and a supportive network. Plus, you can take advantage of our early bird offer to get started with Deliberate Entrepreneurship at a discounted rate!

Don't miss out on this opportunity to reach your full potential - start practicing Deliberate Entrepreneurship and join us today!

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

Because it's the holiday season, this week's episode is a little different than normal. We wanted to take the time to say thank you for being part of what has been an incredible (albeit challenging) year for us, and to encourage you to celebrate everything you have achieved as an entrepreneur in 2022!

Links Mentioned:

10 Amazing Business-Themed Cocktails for Your Entrepreneurial Journey Blog Post 

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

Craig Swanson is a “professional partner” who specializes in helping business owners scale through the powerful tool of community collaboration. In this episode, Craig explains the value of co-creating with your audience, why simpler is better when it comes to scaling, and the importance of embracing experimentation! 

About Craig Swanson:

Craig Swanson is an entrepreneur, business coach, and co-founder of CreativeLive, an online learning platform for creatives. Today, he runs a small investment and incubator company with a fund that invests in and partners with a select few online creators per year to build niche platforms. He provides creators, educators, and influencers with the missing piece of their business that will propel them to the next level and help build $1 million dollar businesses one step at a time. 

Episode highlights:

• When it comes to scaling, simpler is better. Don’t spread yourself too thin by adding on services; rather choose one thing to specialize in and focus on improving that. (11:34)
• Entrepreneurs often create things that are bigger than themselves. Despite what it may feel like, you are not actually your business, and your business is not you. Don’t become too entwined in it. (14:24)
• Listen to what your market wants, don’t just assume you know. Magic happens when you co-create with your target audience. (26:01)
• Don’t become too attached to your ideas. Experiment often; you can’t create the perfect product without testing and iterating. There’s nothing wrong with starting out with a “messy” product! (33:35)
• Building a scalable business requires a very different approach to building a small business. Don’t rely on your first 1000 customers as your revenue source when you are scaling a business. Keep them happy and learn from their behaviors, but don’t worry about making money off them because they will make up such a small percentage of your eventual numbers. (44:48)

Craig’s best advice for entrepreneurs:

“I see so many people squander the future that they want to have because they’re afraid to take a step into failure, but often failure is actually the first step to start building something.” (55:59)

Connect with Craig:

• LinkedIn
• Twitter
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website

As Martyna Lewinksa explains in this episode, everything is a learning opportunity! And to be the best entrepreneur you can be, don’t ever stop learning. This episode is a lesson in the value of having an open mind, being honest and transparent, and asking for feedback! 

About Martyna Lewinska:

Martyna Lewinska is the Co-Founder and Chief Technology Officer at Fiat Republic. She has over eight years of experience in technical and leadership roles across multiple industries, and most recently, she served as the Head of Platform Engineering at OpenPayd (payments), Ex-Habito (mortgages), GE Digital, and ABB.

Episode highlights:

• Being authentic and transparent with potential hires is a much better approach than pretending that everything is perfect. Honesty creates trust, and mutual trust is one of the foundations of a solid team. (15:30)
• Never stop learning! Every situation you face and every person you meet offers an opportunity for learning if you are open to it. (19:49)
• Failures are inevitable along your journey as an entrepreneur. Rather than trying to avoid them, accept the fact that you will make mistakes and be open to learning from them. (20:33)
• You won’t know if you’re good at something until you try, so just go for it! (21:40)
• If you want to continuously improve as an entrepreneur, always ask for feedback from the people around you who you trust. That way, you can learn what areas you need to focus on and improve. (22:50)

Martyna’s best advice for entrepreneurs:

“We’re constantly evolving so I need to keep learning all the time. I learn from every situation, every problem that I face, every conversation that I have. For me, everything is a learning opportunity.” (16:59)  

Connect with Martyna:

• LinkedIn
• Twitter
• Website

Follow Beyond 8 Figures:

• LinkedIn
• Twitter
• Website