Beyond 8 Figures

Carbon credits are one of the innovative potential solutions to the climate crisis. Justin Cochrane’s goal is to turn his company, Carbon Streaming, into the world’s largest investor of carbon credits. In this episode, we discuss the process of investing for good, the transitions that Justin has been through on his entrepreneurial journey, and why the people he has surrounded himself with have been integral to the success he has achieved so far!

About Justin Cochrane:

Justin Cochrane has over twenty years of financing and investment experience. He took the learning he acquired from the mining and energy space and is now fully focused on using investments to fight climate change through his ESG-principled company, Carbon Streaming, which provides investors with a way to invest in a low-carbon future. 

Episode highlights:

• Being a founder and being a CEO are two very different roles that require very different skill sets, and each comes with its own set of challenges. Don’t assume that because you can do one, you will automatically be able to do the other. (00:37)
• Managing all the elements that make up a business is an almost impossible ask for one person (unless you are willing to be permanently burnt out) so building a team around you for support is essential. (02:19)
• One of the best ways to find quality people who share your vision is through people you trust. Lean on your mentors and advisors; they can help you find the people who will help your company thrive. (06:35)
• As you add more people to your team, your capabilities are enhanced. Allow your vision to evolve as your company grows. Justin’s initial vision was to create a public company in the carbon capture space; now, he wants Carbon Streaming to become the world’s largest investor of carbon credits! (12:11)
• The voluntary carbon industry comprises a diverse range of projects (e.g. carbon capture projects, reforestation projects, and energy projects), and the fight against climate change requires 9 trillion dollars of annual investment. If you are passionate about altering our current climate crisis trajectory, there are so many opportunities at your fingertips. (15:43)
• For Justin, success means knowing that he has created a business that is sustainable in the long term, even when he is no longer at the helm. (33:17)

Justin’s best advice for entrepreneurs: 

“The mission evolves as the capability of the team evolves.” (14:02) 

Connect with Justin:

• LinkedIn
• Twitter
• Website

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Although accounting may not seem like the most exciting part of running a business, if you properly understand your finances and take the time to put a financial plan in place, you will be doing yourself an enormous favor. Tune in today to hear Melissa Houston’s take on the importance of overcoming your financial fears and taking control of your finances as an entrepreneur! 

About Melissa Houston:

As the founder of The Fractional CFO Agency, Melissa’s ultimate goal is to help business owners understand their businesses’ financial side so they can create more profit and live financially secure lives. She is also the host of the She Means Profit podcast and a columnist for large publications, including Forbes. 

Melissa Houston empowers entrepreneurs with her book, “Cash Confident: An Entrepreneur’s Guide to Creating a Profitable Business.” This book offers a clear, step-by-step framework and practical insights on money management, equipping readers with the knowledge and tools they need to become financially savvy and achieve business success.

For a comprehensive book review, check out this page.

Episode highlights:

• Most people don’t think of accounting as something that is going to generate revenue, but 82% of businesses fail due to financial mismanagement. To ensure that you don’t become part of this statistic, optimize profit as early as possible by putting sustainable financial management systems in place. (04:53)
• Fear and overwhelm are common emotions that people experience when it comes to looking at their finances. But when you take the emotion out of it, you will unlock the ability to use your money as a tool to your advantage. Your financial information should never be a source of shame. It is just data; treat it as such. (12:20)
• As a business leader, every decision you make has consequences for your bottom line. Knowing your numbers will increase your confidence and ability to make decisions that positively impact your company. (15:10)
• If you want to succeed as an entrepreneur, get clients in the door! There’s no secret to it and no tricks that will get you there faster. Overnight success is a myth; it takes hard work to achieve big goals (15:46)
• “Finance is the backbone of a business.” You’ll be lost if you don’t understand how your business works from a financial standpoint. Success lies in understanding the numbers, so it’s time to get learning! (20:06)

Melissa’s best advice for entrepreneurs:

Connect with Melissa:

• LinkedIn
• Twitter
• Website

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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. 

Through his 8 years of entrepreneurial experience, Jason Wong has come to realize that community building is one of the key drivers of the success of a business. Democratizing your approach to entrepreneurship helps your business stand out from the competition, ensures that your customers stay invested in your product, and allows you to give people what they really want. 

About Jason Wong:

Jason has been an entrepreneur since the age of 16, and over the past 8 years, he has built a portfolio of 7-figure and 8-figure eCommerce brands in beauty, food and beverages, home decor, and apparel! Some of these include Doe Beauty, Wonghaus Ventures, and Saucehaus.

Episode highlights:

• Rather than building a business for your customers, build it with them. Democratizing your approach to entrepreneurship will allow you to really tune into what your customers want so that you can give it to them. This will help you stand out from your competition even in a very saturated market! (01:43)
• Nobody enjoys getting bad reviews, but here’s a fresh perspective on them: the people who take the time to give you a low ranking are the ones who really care about your company because they want you to do better! Take all negative comments as constructive criticism! (5:53)
• Creating a community makes people more invested in your business because they are incentivized by the fact that they are building a better product for themselves. Enhance the sustainability of your community by providing things like early access, discount codes, or programs where members can earn money for promoting your products.  (07:12)
• Consistency is the key to being a successful entrepreneur. Every now and again you’ll hear about an entrepreneur who rises up and makes millions overnight, but they’re likely to fall just as quickly. Entrepreneurship is a long game, and if you play it right it can be incredibly rewarding in more than just the financial sense.  (23:44)

Jason’s best advice for entrepreneurs:

“The people that actually join your Discord group, just like the people who give you one-star reviews, are the people who really give a crap about your company.” (05:53) 

Connect with Jason:

• LinkedIn
• Twitter
• Website

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Matteo’s “People Gardening” concept is about fostering autonomy through creating fertile business environments that are driven by purpose. During this episode, he explains the importance of focusing on company culture, why the best advice he has ever been given is to “be the dumbest in the room,” and the benefits of focusing on incremental improvements.

About Matteo Cervelli:

Matteo Cervelli is the third generation CEO in Urania Group, a $60M B2B manufacturer of components for the modular construction industry. He initially avoided entering his family’s business because of how it limited the time his family spent together. However, after graduating as an industrial engineer, he changed his mind. He is passionate about helping his teammates become the best versions of themselves. 

Episode highlights:

• Invest time in developing a company culture that allows people to become the best versions of themselves. This will greatly enhance the efficiency and productivity of your business. (11:52)
• As your company grows, there is huge value in being able to create a resonant system in order to enhance cohesion, reduce friction, and achieve success. (23:11)
• “Be the dumbest in the room.” Always be open to listening to and learning from other people. Your network will be one of the most powerful tools on your entrepreneurial journey. (26:55)
• Don’t try and solve all the problems in the world; there are too many, and you’ll end up not achieving anything substantial. Instead, focus on doing small experiments and trying to improve by 1% every day. (28:13)
• Autonomy enables productivity and scalability. As a leader, it is your job to foster autonomy so that your employees are able to operate at their best, and subsequently help your business operate most effectively. (36:54)

Matteo’s best advice for entrepreneurs: 

“Test your ideas faster with small experiments.” (29:38) Don’t try to solve all the world’s problems at once. Choose wisely where you focus your efforts and don’t be afraid of iterating. 

Connect with Matteo:

• LinkedIn
• Twitter
• Website

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Finance and fun are two words that don’t often find themselves in the same sentence. But Tyson Koska is on a mission to change that through maximizing marketing power, networking, and making his business stand out from the competition. Tune in to hear the valuable insights that he has gained through the founding of OnTrajectory, a personal finance startup.

About Tyson Koska:

Tyson Koska is a software engineer by training and entrepreneur at heart. He knows firsthand the struggles of being in debt and wants to bring financial peace of mind to as many people as possible by providing the world with an easy, accurate approach to financial modeling that doesn’t require a financial advisor.  

Episode highlights:

• There comes a time on most entrepreneurs’ journeys where the best thing you can do for your business is to make yourself replaceable. As your business grows, you can’t be everywhere at once so you need to learn to let go of certain elements and empower other people to make important decisions. “Work on your business, rather than in your business.” (01:34)
• Strong relationships are foundational to every successful business. Network, talk to people, host a podcast; do whatever you can to form connections with as many people as possible. (03:42)
• Being a startup in the competitive world of personal finance is an expensive, challenging endeavor. To succeed, you have to stand out. OnTrajectory stands out because they are bringing a fun element to a characteristically un-fun industry. Put effort into thinking about how to make your business unique. (04:40)
• Learn from your current and/or potential customers. You don’t have to come up with every new idea yourself. Let your community guide you to a degree by encouraging their feedback and suggestions (and then take action on them!). (17:05)
• Just because you build a great product, doesn’t mean you’ll have a successful business. Don’t underestimate the importance of marketing. If it’s not your forte, hire someone to do it for you. Don't keep adding features until you know your audience! (30:09)

Tyson’s best advice for entrepreneurs: 

“The relationships that you make are absolutely foundational and key to any successful business.” (4:03) Form connections with as many people as possible on your entrepreneurial journey, you never know what opportunities may present themselves as a result. 

Connect with Tyson:

• LinkedIn
• Twitter
• Website

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Strategy, at its heart, is about choices. In this episode, Roman Beylin explains trying and failing is the quickest way to gain traction in your business. Rather than overanalyzing your ideas, put them out into the world, allow yourself the space for continuous iteration, and learn on the go! 

About Roman Beylin:

Roman Beylin is the founder of DueDilio, an M&A digital marketplace, and the publisher of The Business Inquirer newsletter. The idea for DueDilio arose out of a desire to solve the pain points he experienced when buying and selling companies, and the newsletter is his creative outlet. 

Episode highlights:

• Just go for it! Making mistakes is the quickest way to learn. Rather than overanalyzing your ideas, bring them to life, get feedback, and iterate as many times as you need to. (15:18)
• Get comfortable sharing your ideas through newsletters and platforms like Twitter. This will help you to form valuable connections and get feedback on your ideas. It may be uncomfortable at first, but the more you do it the easier it gets. (21:42)
• Creating a product without engaging with customers is a common first-time entrepreneur mistake. In the early stages of your business, focus on market-fit and customer sales first, and building and refinement of the product later. (22:17)
• For Roman, success is all about lifestyle: being able to wake up and feel excited about what he’s going to be doing that day, and helping other people through that. (26:08)

Roman’s best advice for entrepreneurs:

“I think you have to fail a little bit in order to push forward.” (02:53) We learn our biggest lessons through the mistakes that we make.

Connect with Roman:

• LinkedIn
• Twitter
• Website

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Creating fair, just, inclusive business systems is Hana Mohan’s ultimate goal, but she is as pragmatic as she is idealistic. In today’s episode, Hana speaks openly about how her transgender identity has shaped her journey as an entrepreneur, why she doesn’t believe in a product-led approach, and the importance of focus and continuous learning.

 She also shares her thoughts on bootstrapping versus capital raising approaches (both of which she has done herself). As Hana knows from personal and business experience, growth can be very painful in the moment but it is worth it in the long term.

About Hana Mohan:

Hana Mohan is the CEO & Co-founder of MagicBell, a plug-and-play notifications inbox aimed at app developers. Prior to this, she founded two other startups: SupportBee and Muziboo. Hana was the first openly transgender woman to go through Y Combinator and she has written extensively on transgender issues and entrepreneurship, covering topics like cis-passing, gender dysphoria, and HRT (hormone replacement therapy). 

Episode highlights:

• Don’t just assume that if you have a good product, you will do well. Success comes through focus, so focus on what is important to you and what will take your business forward. (4:04)
• Experience can make people cynical. That’s why there is so much value in maintaining a “beginner’s mind.” Read, listen to podcasts, and spend time with people who you can constantly learn from. (05:14)
• Raising money (as opposed to bootstrapping, which also has its benefits) allows entrepreneurs to expand their horizons. Through the capital raising process, you can gain a better understanding of money, and the more money you have, the more you can achieve. Sell your vision! (11:30)
• There is so much money and so little churn up-market which means it is important to have a dedicated sales team and focus on up-market sales, rather than adopting a product-led approach. (19:56)
• You can’t fight every battle. Dream big but also be pragmatic about what it takes to be successful. (26:40)

Hana’s best advice for entrepreneurs:

“You achieve what you focus on.” (04:04) Don’t assume that just because you have a good product or service, people will buy it. Success comes through being intentional about what you do with your time and energy.

Connect with Hana:

• LinkedIn
• Twitter
• Website

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If you’re interested in acquisition entrepreneurship, this episode with Elliott Holland will help you understand what it takes to be successful in this space. He explains how to differentiate between genuine red flags and workable problems, why trusting your gut is not the right approach to making decisions about buying a business, and the importance of having a “walk away” list.  

About Elliott Holland:

Elliott Holland, “reformed engineer” and 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:

• When considering an acquisition, it’s essential to understand when something is a real red flag (and the deal should be avoided) or just a potential red flag that is worth trying to work through. Being too risk-averse or too gung-ho can cause you to end up accepting a bad deal or losing a good one. (17:51)
• Don’t trust your gut! Yes, you read that right. Trusting your instincts is a dangerous game for an acquisition entrepreneur because deals can look much sweeter than they really are if you’re feeling dissatisfied (which is often the case for people looking to buy a new business). Instead, focus on the data; “if the numbers don’t jive, you should run.” (20:54)
• If you want to buy a business, make sure you decide upfront on the point at which you will walk away from a deal (i.e., your “line in the sand”). Otherwise, you leave yourself vulnerable to entering into deals that will not serve you. (26:34)
• The only way to get clients is through marketing, so it’s important to be laser-sharp when defining your ideal client and to be discerning about whose feedback you are listening to. (37:29)
• There are countless definitions of success. Be very specific about what success means to YOU so that you don’t judge your progress based on someone else’s definition. (42:28)

Elliott’s best advice for entrepreneurs: 

“Be very specific about what you call success and how you define it so that you can actually hit it and you don’t get confused by the “universal” definitions of success and grade yourself on somebody else’s ruler.” (42:31). Success is unique to each individual; build the life you want, not the life of someone else’s dreams. 

Connect with Elliott:

• LinkedIn
• Twitter
• Website

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The entrepreneurial landscape is full of challenges for founders and CEOs, particularly those with the intention of scaling a small business. In this week’s episode, Callum Laing explains why entrepreneurs benefit from actively seeking discomfort, having an exit strategy, and accepting that painful moments are part of the journey! 

About Callum Laing:

Callum Laing is the co-founder and CEO of MBH Corporation PLC, a publicly listed holding company that allows small business owners to swap their private stock for public stock without losing control of their business. He has been an entrepreneur for more than 20 years, has started and built businesses in multiple countries and industries, and is the author of 3 best-selling books!

Episode highlights:

• The scale paradox refers to the struggle that many small businesses face when trying to grow because big businesses prefer giving contracts to other big businesses. This is part of what motivated Callum to found MBH Corporation PLC, a publicly listed holding company wherein small business owners can swap private stock for public stock while retaining control of their business. (03:45)
• Come up with an exit plan for your business as soon as possible. Having a long-term goal will keep you focused and will make your business more attractive to investors. (11:40)
• Growing a business from a lifestyle business to a performance business is a challenging (potentially painful) transition because of culture clashes, business model adjustments, and systems upgrades. There’s no way to avoid it, just accept that it will happen so it doesn’t come as a shock! (21:06)
• You will likely make many mistakes along your journey as an entrepreneur. Keep in mind that often when your biggest fears come true, they aren’t nearly as bad as you imagined they would be. (24:00)
• Where you are right now on your entrepreneurial journey is not the end, it’s a stepping stone. So seek discomfort at every stage because this is where the biggest learning happens. (25:38)

Callum’s best advice for entrepreneurs:

“All businesses should be thinking about the end game.” (13:35) When you have a clear direction, everything along the journey becomes a lot more manageable. 

Connect with Callum:

• LinkedIn
• Twitter
• Website

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“If you don’t know where you’re going, you’ll end up someplace else.” Ryan Tansom learned the hard way what can happen if you don’t find your “why” or have a clear direction for your business. That’s why he has focused his career on helping you create success on your own terms through his 5-Step Intentional Growth Framework, which we discuss in today’s episode! 

About Ryan Tansom:

Ryan is an entrepreneur, speaker, podcast host, and Co-Founder and President of Arkona. Before founding Arkona, he revived his family business and then sold it for 8-figures in 2014. He is passionate about helping business owners create strategies that allow them the freedom to build the business the way they want.

Episode highlights:

• There are so many different pieces involved in growing and exiting a business. It’s important to understand all the options that exist so that you can make an informed decision that will fulfill your long-term goals. (09:00)
• Success means something different to everyone. Step one on the journey of achieving it is to understand what you really want, and why because if you don’t have a clear direction and motivation, you are likely to get lost along the way. (16:05)
• The 5 principles of the Intentional Growth Framework: personal drivers, financial targets, exit options, increase value, and a team of advisors. Understanding each of these principles will help you get the most out of your business. (17:12)
• Business partnerships are often fraught with challenges (as Ryan knows from experience) but creating frameworks can help to mitigate them by ensuring that everyone knows where they stand. (30:01)
• Entrepreneurship (and life) is a continuous learning journey. Always be open to absorbing more knowledge because the more you know, the better your decision-making capabilities will be. (42:30)
• Fun, wealth, impact; working at the intersection of these three factors is what Ryan sees as the recipe for a fulfilled life. (44:45)

Ryan’s best advice for entrepreneurs:

“If I’m more clear on what I want long term, and the multidimensional goals, then it’s more clear what I should be doing TODAY to get there .” (05:23) Without direction or intention, it’s easy to get lost in the multiple pieces that make up the entrepreneurial journey. 

Connect with Ryan:

• LinkedIn
• Twitter
• Website

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