In this conversation, Jez and Ken Wentworth explore the themes of business failure, personal growth, and the journey of entrepreneurship. Ken shares his experiences from his early entrepreneurial ventures as a child to his transition from a corporate career at JP Morgan to becoming a fractional CFO. The discussion emphasizes the importance of learning from failures, the impact of customer feedback, and the mindset shift necessary for success in business. Ken's story illustrates how challenges can lead to greater fulfillment and the significance of networking in building a successful business. In this conversation, Ken Wentworth shares his experiences with corporate politics, leadership failures, and the challenges of entrepreneurship. He emphasizes the importance of learning from failures, maintaining trust and accountability in business relationships, and the necessity of having the right mindset to navigate the entrepreneurial landscape. Ken reflects on his past mistakes, the lessons learned, and how these experiences have shaped his approach to business and leadership.

 Takeaways

• Business failure can be a valuable learning experience.

• The UK has a taboo around discussing failure.

• Ken's early entrepreneurial spirit was evident at a young age.

• Customer feedback is crucial for business growth.

• Transitioning from corporate to entrepreneurship is challenging but rewarding.

• Mindset shifts from 'have to' to 'get to' can change perspectives.

• Networking is essential for building a client base.

• Ken's father encouraged him to pursue education beyond the steel mill.

• The importance of being proactive in seeking opportunities.

• Ken's journey reflects the power of resilience and adaptability. Navigating corporate politics is crucial for career advancement.

• Leadership failures can provide valuable lessons for personal growth.

• Trust and accountability are essential in business relationships.

• Reflection on past failures can lead to better decision-making in the future.

• Embracing failure is a key aspect of the entrepreneurial mindset.

• Learning from failures is often more valuable than learning from successes.

• Having a strong emotional quotient (EQ) helps in understanding workplace dynamics.

• Setting clear expectations with partners can prevent misunderstandings.

• Continuous improvement is necessary for both personal and professional success.

• A positive mindset is essential for overcoming challenges in entrepreneurship

Sound Bites

• "I learned much more from failure than success."

• "Failure is learning."

• "Details matter."

Chapters

03:14 Ken's Background and Athletic Failure

05:58 Learning from Failure: A Personal Philosophy

09:10 The Origin of 'Mr. Biz' and Its Impact

12:00 Early Entrepreneurial Experiences

14:46 Transitioning from Corporate to Entrepreneurship

18:11 Finding Fulfillment in Business

21:08 The Importance of Customer Feedback

24:03 Childhood Influences and Family Background

26:46 Navigating the Challenges of Entrepreneurship

29:46 Building a Network and Client Base

33:05 Mindset Shift: From 'Have to' to 'Get to'

40:28 Navigating Corporate Politics and Leadership Failures

45:45 Lessons from Entrepreneurial Setbacks

54:34 The Importance of Trust and Accountability in Business Relationships

01:08:15 The Value of Reflection and Learning from Failures

01:12:16 Mindset: Embracing Failure as Part of the Entrepreneurial Journey

About Ken Wenworth

Ken Wentworth, aka “Mr. Biz”, is a strategic business partner who helps business owners run their companies more profitably & more efficiently.

After ascending to the top 3% at a Fortune 15 company and breaking six World Records, Mr. Biz now uses his experience & expertise to help others develop their skills to become more successful owners. 

He is the author of two bestselling books, his most recent, “Pathway to Profits”, provides an actionable blueprint to excelling in any economy.

Ken is the longtime host of “Mr. Biz Radio”, which airs 55+ hours each week across six different networks. For his expertise, he has been featured on Forbes, Yahoo Finance, Fast Company, The New York Finance, and American Express.

 

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https://www.mrbizsolutions.com/ 

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Peter Banigo shares his journey from studying engineering to starting multiple businesses, the impact of the financial crisis, and the influence of relationships on his entrepreneurial ventures. He discusses the significance of belief in oneself and the challenges of managing multiple businesses simultaneously. Peter Banigo discusses his decision to take a break from running multiple businesses due to burnout and mental exhaustion. He reflects on the challenges, chaos, and mistakes he made in managing multiple ventures simultaneously. The impact of a difficult relationship, overstretching himself, and the belief in being superhuman are also explored. The lowest point in his life, the loss of a loved one, and the inspiration to refocus on his business are shared. Peter Banigo shares his experiences with partnership failure, self-sabotage, and overcoming setbacks in business. He discusses the lessons learned, the impact of personality types in partnerships, and the importance of due diligence. He also delves into the fear of failure, maintaining a positive mindset, and the journey of personal growth and self-discovery.

 

Key Topics

• Belief in oneself is a significant catalyst for entrepreneurial success.

• The impact of personal relationships on business productivity and decision-making.

• The challenges of managing multiple businesses simultaneously and the importance of mental well-being.

• The influence of childhood experiences and family support on entrepreneurial mindset and career choices. Managing multiple businesses simultaneously can lead to burnout and mental exhaustion.

• Overstretching oneself and the belief in being superhuman can contribute to business challenges and chaos.

• The impact of a difficult relationship and the loss of a loved one can significantly affect an entrepreneur's mental well-being and business decisions.

• Taking a break and refocusing on a single business, prioritizing mental health, and finding inspiration in personal experiences can lead to a more balanced and successful entrepreneurial journey. The importance of understanding personality types in partnerships

• The impact of self-sabotage and the fear of failure in business

• The value of maintaining a positive mindset and gratitude

• Lessons learned from setbacks and the journey of personal growth 

 

Sound Bites

• "I think her death was what made me snap out of where I was."

•  "Learning to be comfortable in uncomfortable situations"

 

Chapters

00:00 The Journey from Engineering to Entrepreneurship

10:08 The Impact of Personal Relationships on Business

27:12 Belief in Oneself: A Catalyst for Entrepreneurial Success

31:44 Navigating Burnout and Business Chaos

35:21 The Impact of Overstretching and Difficult Relationships

51:43 Reflections on the Lowest Point and Finding Inspiration

01:01:39 Navigating Partnership Failure and Self-Sabotage in Business

01:04:58 Lessons Learned and Personal Growth Journey

01:13:38 Overcoming Setbacks and Embracing Personal Growth

 

About Peter Banigo

Engineer turned serial entrepreneur, Peter Banigo has been building and running businesses for over 14 years across diverse industries, including web design, restaurants, e-commerce, and energy. He is the founder of Target ICT Ltd, a company dedicated to empowering businesses to harness the power of technology to solve real problems, increase productivity, and drive results.

Peter’s entrepreneurial journey spans a wide range of ventures, from web hosting and food delivery to SMS marketing and procurement. A common thread in his success is his ability to leverage tech-driven solutions to save time, cut costs, and unlock growth opportunities.

As the host of the podcasts "Tech Your Business" and "Green Tech Pulse," Peter shares his expertise and passion for innovation, helping listeners stay ahead in the ever-evolving tech landscape. When not advising clients or podcasting, Peter combines work and wanderlust, running his businesses while traveling the world.

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In this conversation Andy Semotiuk presents the realities of business failures, resilience, and personal growth. Andy shares his journey from law to the UN, his experiences with Mother Teresa, and the challenges he faced while attempting to manufacture planes in China. The discussion highlights the importance of learning from setbacks, the emotional toll of delivering bad news, and the lessons learned from hardship. Andy emphasises the need for resilience and adaptability in both personal and professional life, ultimately concluding that failures can lead to significant growth and understanding.

 

Key Topics

• Experience is often derived from mistakes made in the past.

• The importance of discussing failures openly to help others.

• Bureaucracy can hinder personal growth and decision-making.

• Lessons learned from influential figures can shape one's perspective.

• Delivering bad news requires sensitivity and personal touch.

• Disappointment can strengthen character and resilience.

• Life is about how you react to challenges and setbacks.

• Opportunities often come disguised as problems.

• Resilience is built through exposure to uncomfortable situations.

 

Sound Bites

•  "Experience is basically the mistakes you've made."

• "I realised quickly that bureaucracy was not a place for me."

Chapters

00:00 Introduction and Background

02:56 The Purpose of the Podcast

06:06 Andy Semotiuk's Career Journey

08:57 Experiences at the United Nations

11:57 Lessons from Mother Teresa

15:09 The Airplane Manufacturing Venture

26:48 Challenges and Setbacks in China

36:09 The Aftermath of the Heart Attack

42:46 Delivering Bad News

50:00 Reflections on Failure and Resilience

57:05 Final Thoughts and Quickfire Round

About Andy Semotiuk

 
Andy Semotiuk is an lawyer, accomplished author of four books, and a Forbes columnist for 10 Years whose immigration articles have been read by over a million people. With a background in journalism, Andy also served as a United Nations correspondent, focusing on immigration and human rights. A Distinguished Toastmaster and former member of both the U.S. and Canadian professional speakers associations, he has a strong presence in public speaking and education. Currently practising U.S. and Canadian immigration law with Pace Law Firm in Toronto, Andy draws on decades of legal expertise and diverse experiences to offer insights on law, immigration, and human potential development.

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Lisa Rizzo shares her journey as serial entrepreneur and the factors that influenced her decision to start her own businesses. She discusses the role of her family history, personal experiences, and personality traits in shaping her entrepreneurial mindset. Lisa emphasises the importance of understanding the 'why' behind one's actions and using personal struggles as a source of motivation. She also highlights the significance of joy and purpose in business and the need to align passion with financial goals. Lisa shares her experience of starting a softball training facility and later launching a footwear brand, emphasising the importance of following a clear vision and being open to partnerships. Lisa Rizzo shares her experience of designing and launching a product, including the challenges and setbacks she faced. She emphasises the importance of testing and prototyping before finalising a design and filing patents. Lisa also discusses the emotional toll of setbacks and the need to give oneself grace and stay focused on the vision. She shares her practice of visualisation and the power of law of attraction in achieving success. Lisa encourages entrepreneurs to embrace challenges as opportunities for growth and to be open to pivoting when necessary.

 

 

Key Topics

• Understanding the 'why' behind your actions gives them more power and allows you to turn struggles into motivation.

• Passion and purpose are essential in business and can lead to a more fulfilling and successful journey.

• Having a clear vision and being open to partnerships can help bring innovative ideas to life.

• Learning different roles and aspects of your business in the early stages is crucial for growth and success.

• Following a 'hell yes' feeling and doing due diligence can help determine if an idea is worth pursuing. Test and prototype your product extensively before finalizing the design and filing patents.

• Give yourself grace and stay focused on your vision during setbacks.

• Use visualization and the law of attraction to manifest success.

• Embrace challenges as opportunities for growth and be open to pivoting when necessary.

• Books mentioned:  E-Myth, Hell Yeah or No

 

Sound Bites

•  "Seeing my grandparents' deli, realizing that people could just disappear, and having a gritty attitude are the three things that made me an entrepreneur."

• "I liked the freedom, no cap on my income, and being as successful as I want with things I love to do."

• "I always go into something that is fulfilling to me and serves a greater purpose to others."

• "We got patents before we even had the final product. That's terrible."

• "You have to know when to persevere and when to pivot."

• "I felt low because I thought maybe this was just silly. I felt embarrassed."

 

Chapters

00:00 The Influence of Family History and Personal Experiences

06:23 The Power of Passion and Purpose in Business

10:43 From Softball Training Facility to Footwear Brand

22:02 Learning Different Roles and Embracing Partnerships

32:14 The 'Hell Yes' Feeling: Determining Which Ideas to Pursue

40:26 Designing a Unique Product

52:00 Testing and Prototyping

57:11 Overcoming Setbacks and Doubts

01:03:22 Visualization and the Law of Attraction

01:09:18 Embracing Challenges and Failure

01:13:10 Advice for Entrepreneurs

 

About Lisa Rizzo

 

Lisa Rizzo is a trailblazer in the world of softball coaching and athlete development. She founded Challenge U. Softball® in 2011, with the vision of creating the largest softball-only training facility in the U.S. Dedicated to excellence, Lisa ensures that all of her coaches are former high-level players, bringing unparalleled expertise to their athletes. In 2017, she launched the CUDIT® Concentric Hitting Program, a unique approach to hitting that integrates both physical mechanics and mental training. This program is built around her innovative VBS System®—Visualization, Body-Language, and Self-Talk—designed to enhance athletes' mental toughness alongside their technical skills.

Lisa’s methods have gained widespread recognition, with certified coaches now operating in over 21 states and throughout Canada, establishing her as a leader in the field of softball training. Beyond coaching, she is also an entrepreneur and innovator, set to release a new affirmation-based product, Limitless Slides, in 2023 and has since appeared on the Today Show and the “Kelly Clarkson” show.

Through her commitment to athlete development, mental training, and leadership, Lisa Rizzo continues to push the boundaries of what is possible in the sport of softball, inspiring players and coaches alike with her dedication to fostering both physical and mental strength in her athletes.

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Alan shares his proudest moments in business, which involve seeing his employees take ownership and improve the businesses he owns. He discusses the importance of letting go of control and hiring people who are better than him in certain areas. Alan also talks about his transition from being a lawyer to running his own pest control business, highlighting the risk he took and the importance of living without regret. He shares a failure story involving a former business partner and reflects on the lessons he learned from the experience. Allan reflects on his experiences with failed business partnerships and the lessons he has learned. He emphasizes the importance of understanding the perspective of your partners and being willing to compromise. Allan also discusses the qualities he looks for in potential business partners, including resilience and the ability to bounce back from failure. He encourages listeners to embrace failure as a learning opportunity and to view it as a stepping stone to success. Allan concludes by sharing his contact information for those who want to connect with him.

Key Topics

•  Proudest moments in business involve seeing employees take ownership and improve the business

• Letting go of control and hiring people who are better than you is essential for scaling a business

• Taking risks and living without regret can lead to personal and professional growth

• Failure in business partnerships can be emotionally challenging, but it's important to learn from the experience 

• Understanding the perspective of your business partners is crucial for a successful partnership.

• Compromise and choose your battles wisely in business partnerships.

• Look for partners who are resilient and can bounce back from failure.

• Embrace failure as a learning opportunity and a stepping stone to success.

• Connect with Allan on social media or through his website for business discussions and advice.

• Books mentioned: Good to Great, The Top Five Regrets of the Dying

 

Sound Bites

• "My rule of thumb, and I've heard this from author Dan Martell, is that 80% done by somebody else is better than 100% done by you."

• "Failure is experience."

• On Elon Musk: "There's a lot of things I don't envy about him. He lives a really tough life, but just a true entrepreneur, true visionary. This guy literally shoots for the stars and doesn't take no for an answer."

Chapters

00:00

The Value of Employee Ownership and Improvement

02:10

Letting Go of Control and Hiring for Success

04:30

Taking Risks and Living Without Regret

21:06

Lessons Learned from a Failed Business Partnership

28:52

Understanding Your Business Partners

36:20

Resilience: A Key Quality in Business Partners

44:29

Embracing Failure as a Stepping Stone to Success

52:27

Connect with Allan for Business Discussions and Advice

About Allan Draper

Allan Draper, qualified as a lawyer before pivoting into entrepreneurship. He has since built several multimillion-dollar companies across industries like home services, digital marketing, real estate, and legal services. He now has stakes in 20 companies, and is the host of the “The Business Growth Pod".
 

Connect with Allan Draper

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15 min call 

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In this conversation, Shawn Walchef shares his journey as restauranter and entrepreneur and the importance of storytelling in business. He talks about his experience opening two new restaurant delivery sites during the economic recession and the lessons he learned from struggling to keep it profitable. Shawn emphasises the power of telling your own story and leveraging the internet to reach your audience. He discusses the impact his grandfather had on his entrepreneurial mindset and the importance of curiosity, involvement, and asking for help. Shawn also shares his experience with opening ghost kitchens and the challenges he faced in scaling that business model. Shawn Walchef reflects on the failure of his ghost kitchens and the lessons he learned from it. He discusses the importance of focusing on storytelling and building a media company rather than spreading himself too thin. Walchef emphasises the value of failure and the courage to iterate and learn from mistakes. He shares the impact of closing the ghost kitchens and the financial challenges it posed. Walchef's resilience and determination stem from his family history and the perspective it provides. He encourages others to embrace failure, be curious, and tell their stories.

Key Topics

• Telling your own story is crucial in business, and the internet provides a powerful platform to do so.

• Curiosity, involvement, and asking for help are fundamental to success as an entrepreneur.

• Importance of being digital first as a hospitality business

• Every business needs to be digital-first and prioritise hospitality to build a loyal customer base.

• Failure is a part of the entrepreneurial journey, and it's important to learn from setbacks and pivot when necessary. Focus on telling bigger stories to larger audiences rather than spreading yourself too thin.

• Failure is an opportunity to learn and iterate.

• Closing the ghost kitchens had a financial impact but allowed for a stronger focus on the media company.

• Importance of being curious and a life long learner 

• Resilience comes from seeking support, having perspective, and being relentless in the pursuit of your goals.

• Embrace failure, be curious, and share your story

• Books mentioned: Building a Story Brand, Setting the Table, Mamba Mentality (Kobe Bryant) 

Sound Bites

• "No one's coming. No one can tell the story better than you."

• "You have a unique gift. You have a unique voice. And if you don't speak about that, no one's going to know."

• "You can't be in business if you're not a good storyteller."

• "The return on investment of my time, my team's time, focusing on telling bigger stories to larger audiences, much more valuable than telling those same stories to sell barbecue."

• "The formula for content creation, the reason why people don't start making videos is that they want quality. The only way to get to quality is quantity plus speed plus consistency."

• "Failing that fast and failing that fantastically."

 

Chapters

00:00 Introduction and the Importance of Podcasting

03:13 The Power of Storytelling and the Importance of Beliefs

07:05 Telling the Stories of Restaurants and Hospitality Businesses

11:00 The Influence of Shawn's Grandfather and the Importance of Curiosity

14:00 The Business Advice from Shawn's Grandfather

16:50 The Journey to Becoming an Entrepreneur

21:03 The Bet on Ghost Kitchens and Lessons Learned

31:22 Telling Bigger Stories to Larger Audiences

33:50 The Value of Failure

44:31 Resilience and Family History

46:18 The Power of Perspective

49:04 Embracing Failure and Dreaming Big

About Shawn Walchef

Shawn Walchef is the founder of Cali BBQ, a successful restaurant chain based in San Diego, and the visionary behind Cali BBQ Media. With a passion for connecting brands with audiences, Shawn empowers leaders to thrive in the new Business Creator Economy through innovative Smartphone Storytelling and Digital Hospitality strategies. Since launching Cali BBQ in 2008, the company has generated over $35 million, growing to multiple locations and establishing a reputation for quality and community engagement.

As the host of the popular video series Restaurant Influencers—published by Entrepreneur Media and produced by Cali BBQ Media—Shawn reaches a global audience, with over 25 million views, inspiring restaurateurs and entrepreneurs to embrace digital storytelling and build lasting brand connections.

 

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In this special end of season episode, Jez reflects on the themes and lessons learned from the past season of the podcast and 31 interviews with business founders, CEOs and entrepreneurs. The three main themes of business failure across the season were: 1) Getting in your own way due to fear and lack of trust, 2) Unexpected events that lead to business downfall, and 3) People issues such as partnerships and suppliers. Jez emphasises the importance of self-awareness, vulnerability, due diligence, and building contingencies to mitigate these failure patterns.

The podcast’s season 2 will be back in Autumn 2024. 

Takeaways: 

• Failure can be a valuable learning experience and an opportunity for growth.
• Self-awareness and vulnerability are key to overcoming fear and getting out of your own way.
  Expect and prepare for unexpected events by building contingencies and robustness in your business.
• Conduct due diligence and ensure fit when choosing business partners and suppliers.
• Plan for worst-case scenarios and avoid single points of dependency.
• Reflect on failures, learn from mistakes, and maximize the learning experience.
• Books mentioned: The Black Swan

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Lisa Tennant is a seasoned entrepreneur and leader having founded two businesses and led a small charity, and has over 20 years experience. Lisa's story is a testament to the resilience and entrepreneurial spirit that she inherited from her grandmother, a hardworking woman who ran multiple businesses despite numerous challenges.

Lisa started her entrepreneurial journey with a laundry business in 2004, which she expanded from a simple ironing service to a full-scale domestic and commercial operation. Despite the success, Lisa faced significant challenges, including managing the business single-handedly for many years, which led to personal and professional strain.

A pivotal moment came with the birth of her son, who was in intensive care for many months, which forced Lisa to re-evaluate her business strategy and begin delegating tasks. This change not only helped her business grow but also allowed her to achieve a better work-life balance. Lisa's story is a powerful reminder of the importance of seeking help and adapting business strategies to improve both personal well-being and business success.

Throughout the conversation, Lisa emphasised the value of resilience, the impact of her upbringing on her business philosophy, and the importance of maintaining control over one's life and career. Her journey offers valuable lessons on overcoming adversity, the importance of delegation, and the courage to make significant changes for personal and professional growth.

Listeners will find inspiration in Lisa's determination and practical insights into managing and growing a business while facing life's unpredictable challenges.

Key Topics

• Starting a Business at a Young Age: The podcast discusses how Lisa had entrepreneurial aspirations from a young age, influenced by her upbringing and family background.
• Challenges of Running a Business: Lisa shares the difficulties she faced in running her laundry business, including working long hours and managing all aspects of the business on her own.
• Fear of Delegating and Seeking Help: Lisa reflects on her fear of delegating tasks and seeking help, which hindered the growth and success of her business.
• Impact of Personal History on Business Decisions: Lisa acknowledges how her past experiences and negative beliefs influenced her business decisions and mindset.
• Struggles with Trust and Authority Figures: Lisa discusses her struggles with trusting authority figures and seeking mentorship, leading to missed opportunities for growth and learning.
• Imposter Syndrome and Fear of Success: Lisa delves into feelings of imposter syndrome and fear of success, which may have subconsciously limited her business growth and achievements.
• Pivotal Moments in Business: The podcast highlights pivotal moments in Lisa's business journey, such as the birth of her child, which forced her to reevaluate and make changes in her business operations.
• Failure to Seek Mentorship and Guidance: Lisa reflects on her reluctance to seek mentorship and guidance, which could have provided valuable insights and support for her business.
• Balancing Personal and Business Life: Lisa shares the challenges of balancing personal life, including family responsibilities, with running a business, and the impact it had on her well-being.
• Overcoming Limiting Beliefs: The podcast explores how Lisa overcame limiting beliefs and negative narratives from her past to pursue her entrepreneurial goals and achieve success.
• Books mentioned:  The Big Leap

About Lisa Tennant

Lisa Tennant is a dynamic entrepreneur and founder of L.T. VA Services, an innovative Virtual Assistant agency. Lisa embarked on a transformative journey during the Covid-19 lockdown of September 2020, driven by a desire to regain control over her life. After a successful exit of her laundry business she owned from 2004 to 2014, Lisa recognized the critical importance of effective delegation and time management.

Her entrepreneurial spirit ignited during the lockdown, leading her to home-school her children and delve into a new career as a freelance Virtual Assistant. This decision not only provided her with the freedom to work from anywhere but also allowed her to explore her passion for travel. From traversing the UK in a caravan to adventuring through Southeast Asia, Lisa balanced her nomadic lifestyle with the establishment of L.T. VA Services, which thrived under her guidance.

Despite experiencing the pitfalls of micromanagement and overwork in her previous business endeavours, Lisa's epiphany came in 2012 during a challenging period when her son's health was at stake. By delegating tasks and outsourcing responsibilities, she liberated herself from the shackles of round-the-clock work, ultimately selling her laundry business two years later. Lisa's first-hand experience underscores the transformative power of delegation and strategic planning in achieving both personal and professional fulfilment.

Now, through L.T. VA Services, Lisa is committed to empowering fellow entrepreneurs to embrace delegation as a catalyst for growth and work-life balance.  

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Matt Saunders is a seasoned entrepreneur, author and coach with over 15 years of experience in digital marketing, on an enlightening journey from disillusionment with traditional employment to remarkable success in entrepreneurship. Beginning his career as a Freelance Web Designer, Matt quickly realised the limitations of the traditional 9-5 office job and embraced the freedom of freelancing. However, it wasn't until he discovered his niche in working with small charities that he found direction and passion.

In a candid conversation with Jez, Matt reflects on his journey, highlighting key moments that shaped his career. With a wealth of experience in digital marketing spanning over a decade and a half, Matt shares insights into the importance of mindset, emphasising how a scarcity mindset can hinder progress. His journey underscores the significance of awareness and consciousness in driving personal and professional development.

Moreover, Matt's experiences highlight the importance of embracing discomfort and taking risks to achieve success. From feeling like a cog in the machine to embracing a clear purpose and vision for his business, Matt's story is one of resilience and growth.

Tune in to gain valuable insights from Matt's journey, including the pivotal role of self-reflection, resilience, and community support in navigating the challenges of entrepreneurship.

 Key Topics

• Entrepreneurship provides freedom and the opportunity to do your own thing.
• Having a clear direction and passion is crucial for success.
• Growing up in a working-class family without role models or support can make it challenging to pursue entrepreneurship.
• Niching down and focusing on a specific community or market can lead to increased success and impact.
• Setting boundaries and overcoming fear are essential for personal and business growth. Mindset plays a crucial role in business success. Having a scarcity mindset and feeling like a cog in the machine can hold you back.
• Meeting people from different backgrounds and gaining awareness and consciousness can change your perspective and lead to personal growth.
• Having a clear purpose and vision for your business is essential. It helps you make decisions, set goals, and align your actions with your values.
• Overcoming fear and taking risks is necessary for growth and success. Start before you feel ready and embrace discomfort to move forward.
• Self-reflection, journaling, and seeking support from others can help you navigate challenges and learn from setbacks.
• Books mentioned: 1000 True Fans ; Feel the Fear; Start with Why; E-myth 

 

About Matt Saunders

Matt Saunders is a seasoned professional with over 15 years of experience in digital marketing, coaching, and entrepreneurship. Beginning his career as a Freelance Web Designer, Matt quickly established himself as a proficient developer, working with prestigious organisations like BSkyB and Royal Armouries.

Matt previously founded a Digital Agency to help small charities improve their web presence and branding. Prior to this Matt spearheaded the creation of Beacon, a groundbreaking SaaS product aimed at bridging social media and website activity, showcasing his strategic vision and leadership prowess.

In recent years, Matt has shifted his focus towards coaching and community-building, leveraging his expertise to support freelancers and creatives through his podcast, YouTube channel, and online community. With nearly 15,000 followers in the creative space, Matt continues to inspire and empower others to achieve their full potential.

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In this insightful episode, Scott Russell takes us on a journey through his entrepreneurial path, shaped by his upbringing in a business-savvy family and early experiences in market trading. From his humble beginnings working on his family’s market stalls as a teenager to navigating the complexities of the business world, Russell's story is one of resilience, adaptability, and continuous learning.

A standout highlight in Russell's career is his success in founding and exiting five businesses, with a remarkable combined exit value of £50 million. These ventures spanned diverse sectors, including telecoms and electrical data and engineering, showcasing his versatility and keen business acumen.

A significant turning point in Scott Russell's entrepreneurial journey was the impact of the 9/11 attacks on his aviation recruitment business. The downturn in the airline industry led to significant challenges and ultimately forced him to close the venture. Despite this setback, Russell's resilience shone through as he navigated this difficult period.

This experience reinforced the importance of proper planning, managing cash flow, and having a clear exit plan in entrepreneurship. Scott Russell's story serves as a testament to resilience and adaptability in the face of unexpected challenges.

Key takeaways from the discussion include the significance of learning from failures, the value of mentors or business coaches, and the importance of having a clear exit plan. Scott Russell's journey serves as a compelling testament to the rewards that come from perseverance, adaptability, and strategic decision-making in the face of challenges.

Key Topics

• Growing up in an entrepreneurial family instilled in Scott Russell the values of honesty, integrity, and hard work.
• Managing cash flow is crucial for the success of a business, and entrepreneurs should be cautious about overtrading.
• Setting realistic expectations for customers is essential to maintain a positive reputation and customer satisfaction.
• Proper planning, including watertight contracts and careful cash flow forecasting, can help businesses avoid financial setbacks.
• Learning from failures and adapting to changing circumstances are important lessons in entrepreneurship. Overstretching oneself and not seeking proper advice can lead to business failure.
• Managing cash flow and having a clear exit plan are crucial in business.
• Failure can be a valuable learning experience and can lead to personal growth.
• Fear of failure is natural, but it should not hold you back from taking risks.
• Having a mentor or business coach can provide valuable guidance and support.
• Reflecting on failures and being open about them can help in personal and professional development.

 

About Scott Russell

 

Scott Russell is a force to be reckoned with in the British business world. His journey began as an entrepreneur, co-founding Paddy & Scott's Coffee in 2007. Under his leadership, the company transformed from a small venture into a leading independent coffee roaster and cafe chain. Russell's dedication to ethical sourcing and social responsibility is evident in initiatives like the Meru Farm and Ruiga School project in Kenya.

 

Russell's achievements extend far beyond Paddy & Scott's. He has successfully founded, built, and exited five companies with a combined value exceeding £50 million. This experience has fueled his passion for mentoring and empowering others. As an angel investor, business coach, and Non-Executive Director (NED), he guides both young entrepreneurs and seasoned business leaders towards achieving similar success.

 

Russell's expertise is widely recognized.  He was a finalist in the Sunday Times Tech Track Top 10 for three consecutive years (2007-2009) and named East Anglian Business Person of the Year in 2011. He steered Paddy & Scott's Cafes Ltd into the prestigious Accelerate 250 program, a community of the UK's top growth-focused companies.  In 2017, he was named one of the country's top 100 influential business leaders by Grant Thornton, and the University of Suffolk awarded him an Honorary Fellowship for his contributions to business and entrepreneurship in 2018.

 

Paddy & Scott's commitment to ethical practices culminated in a 2022 Forbes Magazine recognition as one of the top 6 Ethical Coffee brands.  In the same year, the company received the title of Best Medium Sized and Overall Suffolk Business of the Year.

 

Beyond the boardroom, Scott Russell prioritises building strong teams and fostering talent. He dedicates himself to mentoring a select group of high-potential individuals and offers a peer-to-peer program for aspiring entrepreneurs.

 

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