$10M+ | Mac Lackey Started, Scaled & Sold 6 Businesses and Raised Over $75 Million in Capital

$10M+ | Mac Lackey Started, Scaled & Sold 6 Businesses and Raised Over $75 Million in Capital

Mac has been an entrepreneur his whole life. He has built, scaled and exited 6 businesses, 5 of them were at an 8 figure exit or 8 figure in revenue so he has touched the 8 figure mark many times in his career. This week on Beyond 8 Figures the crew reminisce with Mac about the dot com crash, the 2008 real estate crash and Steve and Mac both shared that they were stunned at the amount of businesses who were not able to navigate the 30-60 days so far into this current crisis and have had to close.

Mac shares that the real role of a founder is to navigate turbulence and to have the ability to have staying power. What it means to have staying power is the ability to pivot to another way of serving your customers who may not be buying your current product, if you can sell a different product to an existing audience then you have given yourself staying power. Mac shares his experience in his first internet company in the mid 90’s starting it in a space where no one knows they need what you are trying to sell, having to educate a new industry and hire for jobs that don’t exist and then finally selling the “what is possible” vision to exit this company for millions in his 20’s.

Now’s the time, here is the neon sign, go do it and try something new but be careful of the “new” founders mistake don’t try to sell a market, find a product for a market that already wants it says Mac. If you have an idea, test for demand in the market and is that demand in cash? Mac suggests, you raise the capital to turn up the volume on something that is already working not the opposite. So many great nuggets in this interview be sure to tune in to get the rest! 

Mac Lackey is an American entrepreneur who has started, scaled and sold six companies. Mac and his companies have been featured on CNN, The Wall Street Journal, Fast Company, Business North Carolina, USA Today and The New York Times. Notable ventures include: KYCK (acquired by NBC Sports), Mountain Khakis (acquired by Remington) and Internet Soccer Network (acquired by division of News Corp/Sky).He additionally served as a member of the Board of Directors for Lending Tree (NASDAQ: TREE) for over five years. Mac was a collegiate All-American and played professional soccer before starting his first Internet company in 1995.

[spp-tweet tweet=”Founders, your number one job is to figure out how to manage turbulence” @maclackey

In this episode, Steve, Mary, Richard, and Mac discuss:

Key Takeaways:

Best Advice I Ever Received:

Helping people achieve their goals and dreams is great business.

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business:

The fastest way to scale is through leveraged distribution. Finding someone who already has the customers you are trying to reach with your product/service.

  Connect with Mac:

Facebook: https://www.facebook.com/lackeymac

Twitter: @MacLackey

Website: http://maclackey.com

YouTube: https://www.youtube.com/user/maclackey

Email: [email protected]

Instagram: https://www.instagram.com/maclackey/

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$10M+ 2 Businesses – Susie Carder, CEO | SD Consulting

$10M | Susie Carder, CEO SD Consulting, Single Mom                Hairdresser to $10 Million in TWO businesses.

Susie Carder started out as a low paid hairdresser trying to support her 2 little girls but working for someone else became a challenge (to say the least). Susie decided to do whatever it took to create her own business. After much blood sweat and tears (mixed with cheap mascara) according to Susie, she went on to create, not one, but two $10 Million companies!

Cut the fat and make sure you're the meat to your clients

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As a serial entrepreneur, she is no stranger to starting and scaling. Susie has built and sold 9 businesses, two were good learning experiences and expensive hobbies and the other 7 were multiple millions of dollars in revenue and exit. The two $10 Million dollar businesses were her Spa and a Training and Development Company in the Spa Industry. The first person she always hired was an operations person, they are the foundation, how do we create a business that doesn’t rely on the super star or technician? She took Lisa Nichols company from $800,000 as Lisa Nichols to $10 Million as Motivating the Masses and as Lisa Nichols said “Just do for me as you did for yourself” and that is how Susie built that business for her client. Listen in as Susie shares so much great advice for serious entrepreneurs.

In this episode, Steve, Mary, Richard, and Susie discuss:

Key Takeaways:

Best Advice I Ever Received:

Micheal Gerbers eMyth book says build it like you are going to sell it and that is exactly what she did

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business:

That there is a roadmap to building a 7-8 figure business. 88% of small business fail in the first 5 years, and only 1.7% of the businesses reach 1 million dollars in their business.

  Connect with Susie:

Twitter: @SusieCarder

Website: https://www.susiecarder.com

Email: [email protected]

YouTube:https://www.youtube.com/user/bootstrappassion8

LinkedIn: https://www.linkedin.com/in/susiecarder

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$10M+ Annual Revenue – Annie Hyman Pratt, CEO | Executive Consultant Leading Edge Teams |The Coffee Bean & Tea Leaf Family

$10M+ Annual Revenue – Annie Hyman Pratt, CEO | Executive Consultant Leading Edge Teams |The Coffee Bean & Tea Leaf Family 

Business from Mom and Pops Stores to 70+ International Locations in 7 Years

Annie more than 10x’d her family business – The Coffee Bean and Tea Leaf – taking it from seven domestic “Mom & Pop Shops” to an International Brand of 70+ stores, all in seven years time. She then lead the company through a highly successful sale.

Annie spent the next two decades as a top-tier business consultant specializing in “rapid growth and change.” She has since worked with 50 plus entrepreneurial companies—in diverse industries—guiding them through virtually every challenge and and stage of growth imaginable.

Annie Hyman Pratt, is the master at developing leaders and teams that drive rapid growth and sustainable results – so Entrepreneurs can work on the strategic and visionary aspects of their business – and have the time, freedom, and impact they desire.

No other leadership or team development consultant comes close to Annie’s level and scope of experience. Her track record of success stems from her unique approach to business strategy, structure, systems, finance, and the “missing link” of human behavior that brings it all together.

Whatever challenges you may be facing in your business, Annie has likely seen it—and solved it.

In this episode, Steve, Mary, Richard, and Annie discuss:

Key Takeaways:

Best Advice I Ever Received:

Judgement is an emotional reaction, which clouds your thinking, diverts your focus, and steals your energy. Gaining the skill and discipline to release judgements is the single most beneficial behavior to increase your success in business and in life. = What I learned at USM

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business:    

You can’t be an “A Player” and run a 10MM business. At that point you MUST be an A+ Leader, because you will no longer be doing 95% of the task type work, and you will be leading, mentoring, structuring and cultivating a culture where people step up and do their best work

  Connect with Annie:

Facebook: https://www.facebook.com/anniehymanpratt/

Twitter: https://twitter.com/AnnieHymanPratt

Instagram: https://www.instagram.com/anniehymanpratt/

YouTube: https://www.youtube.com/channel/UCdFmarmCnd8ePWNbLo5myWA

Linkedin: https://www.linkedin.com/in/anniehymanpratt/

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Today, we are joined by Rich Schefren, the Founder and President of Strategic Profits, a company that has surpassed $10 million in annual revenue. In this episode, we delve into an important principle that Rich embodies: different is always better than better. Listen in as Rich shares his experiences and strategies for creating lasting value and making a positive impact on the lives of others.

About Rich Schefren:

Rich Schefren, Founder and President of Strategic Profits, is a highly regarded figure known as the “guru to the gurus.” With a track record of adding over 15 billion dollars in revenue for his clients, he has established himself as a trusted authority in the business world. Rich’s expertise has been featured in renowned media outlets such as The Wall Street Journal, Newsweek, ABC, NBC, FOX, MSNBC, and The Discovery Channel. From turning around his family’s struggling clothing business to creating a thriving hypnosis center and leveraging his marketing prowess in the online world, Rich’s entrepreneurial journey is a testament to his ability to drive results and share his knowledge with aspiring entrepreneurs.

Drawing on his extensive experience and passion for empowering entrepreneurs, Rich has authored several books, such as “Internet Business Manifesto,” “A Dent in the Universe,” and “Reality Check: Desires, Beliefs and What ‘Value’ Really Means to Your Prospects.” Through these works, he shares invaluable wisdom on personal growth, unleashing individual strengths, and effectively communicating value to target markets.

Browse our curated collection of Business Books for more enriching reads.

 In this episode, Steve, Mary, Richard, and Rich discuss:

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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. 

$10+ Million in Annual Revenue – Rod Khleif, Lifetime Cash Flow Podcast

Rod Khleif, Director of Lifetime Cash Flow Podcast, with Annual Revenue of $10M+

Rod Khleif is a multiple business owner and philanthropist who is passionate about entrepreneurship and giving back. As one of the country’s top business, real estate, and peak performance luminaries, Rod has owned over 2,000 homes and apartment buildings, building over 22 businesses in his 40 year career, several which have been worth tens of millions of dollars.

Focus on cash flow. @RodKhleif

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Soaring from humble beginnings as a young, impoverished Dutch immigrant to incredible success, Rod’s experience involves both remarkable triumphs and spectacular failures, which he affectionately calls “Seminars”. He explains the mindset required to recover from losing $50 million in the crash of 2008 to the success he enjoys today. Rod can speak to the psychology of success, mindset for taking action, and any business or real estate topic in great depth, contributing firsthand knowledge and skills to the discussion.

Rod also founded the Tiny Hands Foundation, which has benefited more than 75,000 community children in need.

In this episode, Steve, Mary, Richard, and Rod discuss:

Best Advice I Ever Received:

From an old man in Denver that owned lots of free and clear apartments: To buy real estate and let other people pay if off. When free and clear it would equate to “buckets of money”

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business:

Create a business plan, do a SWOT analysis, learn everything you possibly could about that potential business and barriers to entry. Look for equity investors, execute on the plan and utilize the EOS system from the book Traction to run the business like a well oiled machine. 

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$11.5 Million Annual Revenue – Nick Bogacz, Caliente Pizza & Drafthouse

Nick Bogacz, President & Founder of Caliente Pizza & Drafthouse, Annual Revenue of $11.5 Million

With over 20 years of experience in the industry, Nick opened his first location in the fall of 2012 and has grown quickly to his 5 current locations, with the 6th one coming in this first quarter of 2020.

He started in the industry as a delivery driver in 1996 and fell in love with the team atmosphere and high energy that the pizza business provides. He worked his way through many levels of corporate chain pizza companies, always having his eye set on opening his own independent stores.

You've got to care about your people before they'll care about you. @nick_bogacz

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Nick has grown his company to over 200 employees through leading by example, having won numerous awards in the industry, including World Championships at the Pizza Expo in 2016, 2017 & 2018. They won the Best American Pizza 2019 at the World Pizza Championships in Parma Italy. He’s also a part of the International Pizza Expo’s family of speakers as well as being a member of the esteemed World Pizza Champions Team. 

Nick was successful in bringing together pizza and craft beer within his company. Each of his restaurants boast over 24 taps and a bottle selection of over 150 beers. His stores specialize in hard to source craft beers from across the country and around the world. He has also taken a unique approach to craft beer by setting up collaboration brew’s with breweries. Nick and his team go to breweries where they brew special recipe beers to be served at his locations. He has collaborated with local breweries and world class breweries across the country.

Nick’s goals in the Pizza Industry continue to be met by being committed to excellence with focus and positive vibes. His wife Angie has been his biggest supporter and is proud to be a Pizza Wife for Life. His teenage kids have grown up in the industry and have taken a keen interest in the business. When not in the grind and every day hustle that he craves, he enjoys good quality fun and relaxing with his family.

In this episode, Steve, Mary, Richard, and Nick discuss:

Best Advice I Ever Received:

From my dad: ” Whatever you do, do it for yourself.”

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business:

When you feel like you should give up, work harder and faster, the tipping point is right around the corner.

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Chris Guerriero is an entrepreneur, business advisor, speaker, and best selling author.

Business owners around the world have come to rely upon Chris when they require an edge to breakthrough growth obstacles.

Expertise and proven track record of success differentiate Chris. He’s grown teams, culture, and business systems that yield multi-million-dollar companies. During his career devoted to health, wellness, and business growth, Chris has built four 8-figure businesses of his own and helped generate millions in revenue for his clients. He has served as a business advisor, mentor, board member and investor for businesses and executives who desire additional business growth.
Chris was featured in Entrepreneur as one of the top entrepreneurs of the time and his companies have been featured in print, video, and on live stages domestically and around the globe. Chris is focused on building culture, systems, and teams that scale smart and galvanize growth.

In this episode, Steve, Mary, Richard, and Chris discuss:

Best Advice I Ever Received:

Seek wise counsel so you can fast pace your growth and don’t have to learn lessons the hard way.

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business:

Build your company to sell, straight from the start. Companies that are sellable, are far more efficient, scalable, and duplicatable.

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David Finkel’s clients enjoy an average annual growth rate five times higher than the average privately held company in the United States, and at the same time, these business leaders have dramatically decreased their working hours.

Over the past 20 years, David and the other Maui coaches and advisors have personally started and scaled companies with an aggregate value of $63 billion.

About David Finkel:

David Finkel is the CEO of Maui Mastermind, a leading coaching company dedicated to empowering entrepreneurs on their path to success. With a passion for helping business owners, he focuses on helping them not only build thriving companies but also regain valuable time for themselves.

Beyond his role as CEO, David is a best-selling author with 12 business and financial books. His books, including “The Freedom Formula,” “Making Big Money Investing in Real Estate,” “Scale,” “The Real Estate Fast Track,” and “Making Big Money Investing in Foreclosures,” offer practical guidance on achieving business success, gaining personal freedom, and mastering real estate investing, making them essential reads for anyone looking to grow their companies without sacrificing their time and well-being.

Browse our curated collection of Business Books for more enriching reads.

In this episode, Steve, Mary, Richard, and David discuss:

Key Takeaways:

Best Advice I Ever Received:

When presented with a challenge, ask the question, “I don’t know, what do you think we should do?”

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business:

Narrow your focus. Most business owners try to do too many things and spread resources over too many opportunities and initiatives. The most successful companies I’ve ever built and ever coached have narrowed their resources to focus on their very best opportunities so that they put more of their best time, talent money and attention on those fewer opportunities that have a bigger impact and can make a bigger difference.

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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.

In this episode, Steve, Mary, Richard, and Minnie Ingersoll discuss:

Key Takeaways:

“When there aren’t spreadsheets with years of history to look at, people are looking at people, product, and market.” — Minnie Ingersoll

About Minnie Ingersoll: Partner at TenOneTen actively investing in great teams. We are operators who invest early (pre-seed, seed, seed+) and love working with technical founders who are passionate about what they’re building.

Prior to TenOneTen, I was founder and COO at Shift, an online marketplace disrupting the $1.2T car industry by providing a better experience for buying and selling used cars. Grew to a $100M+ business and a recent Series D.

Started my career as an early product manager at Google. In my spare time, I volunteer for city government, surf baby waves, and raise baby people. 

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Rebecca Costa Exited Dazai Advertising Inc.

Best Advice I Ever Received: If you don’t fail big then maybe you haven’t aimed high enough.

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business: The most important advice is to differentiate! Differentiating yourself, your product and services, translates to commanding higher prices.

In this episode, Steve, Mary, Richard, and Rebecca discuss: 

Key Takeaways: 

“The number one differentiator, is a perceived differentiator. That is the enduring differentiator that you can have. Perception is reality. So, the perceived differentiator that is worth investing in, is your brand.” — Rebecca Costa 

About Rebecca Costa: World renowned sociobiologist and futurist, Rebecca Costa, shows how artificial intelligence-powered predictive models can predict future events with unprecedented accuracy, paving the way for leaders to act before-the-fact. Using real world examples, she demonstrates how the certainty of future outcomes is changing the way businesses and governments solve problems and preempt danger. Costa’s work has been heralded by Richard Branson, John Sculley, E.O Wilson, Jim Lehrer, George Mitchell, Alan Dershowitz and Nobel laureates such as James Watson, and featured in The Washington Post, USA Today, New York Times, San Francisco Chronicle, etc.  

 
Connect with Rebecca Costa:
Twitter: rebeccacosta  

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