Business Lunch

Roland Frasier addresses a threat every business owner and entrepreneur has to face, in this very short episode. Listen in for a powerful practice that will protect your time, your success, and your future.

Focus. Set specific time aside just to think and process.

Determine what is essential and say no, or "not now" to the rest. All of my virtual mentors, from Steve Jobs to Thomas Edison, did this well. Some walk, as Steve Jobs did, some meditate like Ray Dalio. And some, like me, do it in the morning or evening, alongside working out.

No matter what, your current success is the biggest threat to your future success. Read that one more time.

Your current success is the biggest threat to your future success. Your current success will create opportunities because others will want to work with you and tap into it.

Just remember it's easy to drown in opportunity if you're not practiced in the art of saying no. Choose one or a very few things to focus on, and keep your eyes, thoughts, and mind there.

"Business is an intellectual sport." Keith Cunningham

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends. We publish an in-depth conversation on Wednesdays and a snack-able edition on Mondays.

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Mentioned In This Episode The Road Less Stupid book

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Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you'd like to share? Connect with us on https://itunes.apple.com/us/podcast/business-lunch-with-roland-frasier/id1442654104?mt=2&ign-mpt=uo%253D4 (ApplePodcasts) and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

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Roland talks with Trevor Jenson, CEO, Board member and co-founder for several multi-million dollar companies. Trevor’s current projects include HSEL (High School E-Sports League) and Bullibone.

The three gamers that started HSEL were receiving all kinds of equity offers, and they knew they needed help to navigate their way forward. So they brought in Trevor Jensen to consult with them. He saw that it was a massive opportunity and proceeded to help them avoid various bad deals and landmines. He is now a co-founder and has built a great team around them.

“I came in, and there was no revenue going on. They were just doing it for free, paying for it out of their own pocket, working pizza jobs, just to pay for it. Cause they knew it needed to exist.” Jensen

He talks with Roland today about E-Sports, Networking, living in an Entrepreneur house, not to mention the success of his OTHER business, Bullibone.

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends. You can also learn more from Bob from his free E-Book.

What is E-Sport Exactly? A tournament that gets more viewers than the Superbowl.

“So if you think of basketball, football, lacrosse, anything in high school, you have a team, and you play against other high schools, and you compete for Championships (and all sorts of different prizes). That’s what this is. You can play video games for your high school and compete against other high schools.” Trevor Jensen

How Jensen introduced new revenue models and put together a team of experts.

What they looked for in people and investors.

The steps he took and where he began in order to find the right team for this massive opportunity.

The Importance Of Your Elevator Pitch For Networking “Having your elevator pitch about your company is really important because if you get people that you’re talking to excited, they’ll make an introduction to someone who makes an introduction to someone, and the word starts traveling fast”. Trevor Jensen

Questions to ask that will help you to build rapport and genuinely do good in the world.

“If you own the high school audience, you own all of these sports, and we are the biggest and fastest-growing high school E-sports community”. Jensen

You’ll Also Hear How he got into the Pet Industry after being hit by a car.

His journey so far as CEO of Bullibone.

Deals & Acquisitions.

The benefits of living in an ‘Entrepreneur House’.

And So Much More! Click to find us on Apple Podcasts and other podcast players.

Find Trevor Jensen On LinkedIn

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Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

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How hard are you willing to work for the success that you want in your life and your business?

Roland Frasier gives us an inspiring, snack-size episode today, with a principle most people miss.

“Winners Prepare.” Roland Frasier

Questions To Consider, How do you show up for the opportunities that arise in your personal and business life?

Are you putting in the mental and physical preparation to maximize each opportunity?

How can you use every opportunity as a leverage point for creating even greater opportunities?

Are you capable and mentally prepared for the effort that you must put forth to win?

“This is where my competition will stop. This is where I push forward and Win”. Kent Clothier

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends. You can also head over to our website for more ways to listen - and to sign up for bonus content from Roland.

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Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on https://itunes.apple.com/us/podcast/business-lunch-with-roland-frasier/id1442654104?mt=2&ign-mpt=uo%253D4 (ApplePodcasts) and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

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Roland sits down for a valuable conversation with Vinnie Fisher, founder, and CEO of Fully Accountable, which provides outsourced accounting and finance. It’s unusual for a service company to hit almost eight figures in under five years, but that’s precisely what Vinnie has done with Fully Accountable.

If you find yourself intimidated by numbers, or frustrated with your CFO, or want to learn how to find the right hires so that you can be less ‘in the weeds’, you’ll find this and so much more in this episode.

“I discovered in the process; there’s really four jobs. There’s this executive bookkeeper. There’s a controller, there’s a financial analyst, and there’s a CFO…You can’t just hire a CFO to expect all those other jobs to be done”. Vinnie Fisher

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends.

Listen For, What Vinnie believes is the Secret to Fully Accountable’s massive growth.

The Simple Step/shift that doubled the size of his company.

Why this ‘big internet guy’ ended up building a substantial service company.

The areas that most entrepreneurs overlook from an accounting standpoint.

“If your books aren’t closed on the hour of the month, and then adjustments are made by the 15th of the following, you’ve got a disconnection problem of your accounting team to the running of your business.” Vinnie Fisher

The critical value of Benchmarking.

What happens when you reach 1M in gross revenue.

“Everything you do to get to a million dollars is way different than what happens after, right? Which, by the way, is less than 7% of all companies. So this magical number that everyone acts like is the first place you get to, is actually when the hard part of business starts.” Vinnie Fisher

5 Pieces Of Data Every Business Owner Needs To Know

1) Deposits

2) Labor

3) Cost of Goods

4) Media

5) Profit Margin (Not just profit).

“I made a big mistake that if there’s more money in the bank, I’m doing good until I was until I realized there’s a real standard for what my margin of my company is. I’m now more consumed with how much I’m off on margin than I am about whether I make a profit.” Vinnie Fisher

You’ll Also Hear, Why he still believes a sales team is critical and why he still loves the phone!

His preferred hybrid mix of employees and ‘homeys’ (contractors working from home).

“I’ve got a company that’s on the inc 5,000 list because of my outsourcing philosophy. I think that a core team can utilize outsource components to leverage growth.” Vinnie Fisher

• Vinnie’s hiring strategy and the tests he uses to find the right people.

“So we believe in a triangle effort, attitude, and ability…if they don’t meet those three things, it doesn’t matter.” Vinnie Fisher

• How he structures compensation, and why.

“I’ve learned a couple of things. Some people don’t want their upside capped. Other people want their downside protected. Right? And so somewhere in the middle that can work. So we believe in a healthy base rate with commission.” Vinnie Fisher.

And So Much More! Click to find us on Apple Podcasts and other podcast players.

Find Vinnie Fisher

On https://www.linkedin.com/in/vinniefisher/ (LinkedIn)

Resources Mentioned in this Episode https://fullyaccountable.com/resources (FullyAccountable.com/resources )

Contact & Follow Roland

On https://www.facebook.com/rolandfrasier, (Facebook)

On Instagram

Through his Website

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On Twitter

Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

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Our host, Roland Frasier, has founded, scaled, or sold 24 different 7 to 9 figure businesses, ranging from consumer products to industrial machine manufacturing companies, with adjusted sales ranging from $3 million to $337 million. You don’t manage that kind of success without knowing a thing or two about creativity and innovation. In this episode, Roland draws on his experience and shares his strategies so that you can grow your profits too!

If you enjoy this podcast, would you take a moment to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends?

Ask Better Questions Before we break down Roland’s 5 Steps, he swears that asking better questions IS THE KEY to innovative thinking. If you want to create growth strategies that will propel your business forward, faster than the average, this is critical. If you are always asking questions like, “How can I cut costs by 1/3?” or “How can I hit my three-year goals in 6 months,” then you will turn on both the conscious and unconscious areas of your brain, and the creativity engine will engage.

“If you do what you’ve always done and copy what other people are doing, there won’t be much opportunity for innovation or exponential improvement.” Roland Frasier

Listen Today For Roland’s 5 Steps To Grow Your Profits Step #1: Implement a Top-Line Scrape. Follow the “Profit First” philosophy of demanding that your business produce a profit before anything else. You work hard in your business, and it exists to serve you by providing the standard of living that you desire. Carve out your share first and force the company to perform at a level that provides you with your required profit.

One of the easiest ways to do this that we employ in our businesses is to implement a Top-Line Scrape (“TLS”). The TLS simply takes your monthly Net Sales figure, Gross Sales less returns, discounts, chargebacks, etc. and then multiplies that figure by a fixed percent that you determine as your profit that you want to earn from the business. So, let’s say you have gross monthly sales this month of $210k with refunds and discounts of $10k, and you want the business to earn you a 15% profit. Simply establish a TLS of 15% of Net Sales, and multiply your Net Sales figure of $200k by 15% to determine that your TLS for this month should be $30k.

“This is Step #1 because if you don’t consciously decide and then insist on receiving a specific profit from your business, your business will very frequently find a way to demand every dollar that it produces to operate and grow.” Roland Frasier

The next four steps will provide you with additional strategies, tools, and techniques to drive more profit from your business so that it will be easier for you to follow the TLS model.

Step #2: Turn Expenses Into Profits When it comes to innovating to increase profitability, “E2P” is one of the most potent strategies. Here’s how it works.

First, take a look at all of your major expenses. Next, rank them from highest to lowest by category. For example, if payroll is your most significant expense, that would be ranked #1, then maybe rent, then cost of goods sold/inventory, etc.

Now that you know what your biggest expenses are, brainstorm ways that you might be able to turn those into a profit center. For one of our businesses, we identified that payroll for our content creation team in the Philippines was one of our largest expenses, costing about $50k per month. As we considered what we could do to turn that into a profit center, we decided that if we started offering content as a service to other businesses, we could actually transform this $600k per year expense into a profit center. At the very least, we could provide content creation to other businesses using our excess capacity to create a breakeven situation.

Listen for some great examples from Roland!

“You are only limited by your own imagination in creating ways to transform expenses into profits.”...

Do you hate your job? Is Sunday ruined because Monday’s the worst? You might just be the IDEAL candidate for a Franchisee, according to our guest on this show, Erik Van Horn. Or maybe you’re a serial entrepreneur that doesn’t want to start from scratch? This episode is a great listen if you want to know more about this whole model. But also, listen in if you have a business, and you want to hear a high-level brainstorming session on how Erik can grow his business exponentially.

Erik Van Horn is the Founder, and CEO of https://www.franchisesecrets.com/ (Franchise Secrets), a hub for franchisees and franchisors to get excellent content and information. Van Horn is a franchising specialist and expert in multi-unit, semi-absentee business ownership. Usually, 1% of people looking at buying a franchise actually buy one. But because of Erik’s counsel, content, and expertise, 25% of his clients purchase a Franchise.

“There are so many people out there that are pushing Franchises on people that should never buy a Franchise, and yet there are people that are really good for Franchisors as a Franchisee, that can’t find the right one.” Erik Van Horn.

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends.

Listen For, The Ideal ‘customer’ for a Franchise

What you get out of a GREAT Franchise with a semi-absentee model.

Why life gets easier when you have about three stores in place.

How many hours you can expect to put in alongside your investment.

“Someone that’s never created something from scratch does not understand the challenge of creating and learning how to do everything from zero… It’s very hard. Franchising isn’t for everyone but, but the good ones have all of that figured out… so you get a brain trust... to shortcut to success”. Erik Van Horn

The Ideal Franchisor

The questions you need to ask to weigh up whether it’s a good idea for your business to go to the next step and take it to the franchisor level.

“Franchising is not just about expanding your business. You are now in the business of helping franchisees become successful. It’s not for everybody, because you’re not going to be able to make everybody happy. You have to know what you’re getting into, but it can be a GREAT thing.” Erik Van Horn

• When Erik will NOT work with someone.

• How he qualifies the right people and gets his 1 in 4 closing rate.

• Tips on getting the right kind of financing.

“I don’t want people to get into a business that’s not right for them. It’s not easy. Business isn’t easy. But Franchising changed my life 18 years ago”. Erik Van Horn.

Plus, Listen as Roland consults with Eric on the next steps for his Franchise Secrets business. Including,

• How to do things that don’t scale in order to do something that does scale.

• Deal flow and opportunity.

• Mastermind, group coaching, certifications, and other strategies.

“It’s important to me that I’m not selling my time.” Roland Frasier

And So Much More! Click to find us on Apple Podcasts and other podcast players.

Find Erik Van Horn On Facebook

On The Franchise Secrets Podcast

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Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

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Roland Frasier is a phenomenal negotiator. Not only was he a business lawyer for 12 years, but Roland has also founded, scaled, or sold 24 different 7 to 9 figure businesses ranging from consumer products to industrial machine manufacturing companies with adjusted sales ranging from $3 million to $337 million. You don’t manage that kind of success without knowing a thing or two about negotiating. So listen in today for some excellent principles to help guide you through a tough negotiation.

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends. If you find yourself needing to do some negotiating right now, you may also find this episode, and this episode (both with Roland) useful.

The Bouchard Story Back in World War 2, in the 1940s, the Nazis occupied France, and parts of Burgundy were under their control. Orders were given to appropriate large quantities of lower quality French Burgundy for the troops, and higher quality wines were to be purchased and sent to Germany for the officers and higher-ups.

To save as much of their better wine that had not already been designated “Grand Cru,” several of the local producers gathered and established a new designation, “Premiere Cru,” to permit that wine to avoid appropriation.

The plan worked, and that saved quite a bit of wine. But, the best wine of the region was also at risk, and even if the wine was being purchased for the officers, the French didn’t want all of it to leave their region to be lost forever.

Several of the winemakers built false walls in their large, sprawling cellars beneath the city of Beaune in the heart of Burgundy to hide their most precious wines. Among those was Bouchard Pere et Fils (which Roland recently had the pleasure of visiting). Bouchard has an immense underground cellar that covers several blocks beneath the city above, and this cellar stores millions of bottles dating back to the mid-1800s. They chose one of their off the beaten path cellar rooms that held about 35,000 bottles as the primary storage spot for their best wines and then built a false wall behind which to hide their liquid treasure.

However, false walls were not uncommon, and the Nazis knew that they were likely to exist in cellars, so they were not shy about breaking through walls at the end of cellar corridors to check and see if anything was hidden behind them. So, when they arrived at Bouchard’s cellars, the Nazi soldiers did indeed knock down and break through the false wall Bouchard had built.

However, rather than finding the most precious wines, they found a cache of lesser wines instead and, delighted that they had foiled the winemaker’s attempt to hide these bottles, took them all away.

What they did not know, however, was that Bouchard had built not one false wall between its prized 35,000 bottles and the main cellar, but three, and cleverly stashed a large quantity of lesser wine bottles behind each false wall so that the Nazi’s would believe they had found the best wines and not go any further. Fortunately, the soldiers were not well-versed in French Burgundy terroir and therefore were unable to discern the quality level of the wines they found hidden behind the first wall.

The plan worked, and thankfully, the most prized bottles survived throughout the war, hidden safely away behind two additional false walls.

There are several lessons in business and negotiation that we can take from what Bouchard did.

Lesson #1: Construct “False Walls” Whenever you have an absolute that you cannot give on and do not want your negotiating opponent to discover, take the time to construct several “false walls” that you can allow them to “breakthrough.”

This will allow you to give them the pleasure of getting something in return as you concede the issues that you are perfectly comfortable conceding, which will, in turn, be more likely to allow you to protect your most precious...

With No Risk, And No Cost. Sounds good right?

Most companies don’t realize that almost anything that a business owns is an asset that can be licensed, whether that’s a service, a process, a training program, a Physical Product, Intellectual Property, such as marketing systems, or, your name and image! Any asset can be licensed.

Bob Serling of Licensing Lab helps companies turn their assets into 6 and 7 figure profit centers. He’s a 30-year marketing veteran AND the founder of Profit Alchemy, Inc. Serling shares how he invented a skateboard toy featuring Tony Hawk’s branding, that was sold worldwide. Bob also co-created and marketed advanced assessment software currently being used by many Fortune 500 companies. This is a fascinating and super helpful episode. As always, Roland asks questions that most people don’t.

Serling and Roland discuss inventions and product development but focus on licensing and how YOU can explore these possibilities too. Serling shares some famous examples as well as a deep dive into how this all works. Listen if you want to bring these kinds of deals together.

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends. You can also learn more from Bob, by downloading his free E-Book.

“It’s really important that people realize, they do their business on a day to day basis, but those relationships you’ve built are leverageable assets. But most people don’t think that way”. Bob Serling

Listen For, The 25 Million Dollar letter (that he licensed and went on to make even more from).

The nuts and bolts of brokering a deal.

How to make money connecting people.

When to turn your most significant expenses into profit centers.

Lesser-known advantages to licensing.

Five of Bob’s Top Licensing Strategies Process & IP Licenses

Profit Cloning

Exponential Tollgates (The 25 Million Dollar Letter)

Certifications

Repeating Circuit Joint Ventures

“Any time you get greedy, deals fall apart real quickly”. Bob Sterling

Including, Bob’s Secrets To Successful Inventions (“Profit Cloning”). How he Invents something that’s guaranteed to be successful.

How to research invention ideas and his personal “Profit Cloning” process that has proven successful.

The stiff challenges of getting an invention to market, and how he gets around that.

And So Much More! Click to find us on Apple Podcasts and other podcast players.

Contact Bob Serling By downloading his free E-Book, http://licensinglab.com/ (The Licensing Solution).

Contact & Follow Roland On Facebook

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Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

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If you find yourself a perfectionist in your business, because you care SO much about it, this episode will help you to LET GO so that you can see the growth and lifestyle that you WANT.

Tom Wilkerson runs a multi-million dollar company with just one employee. He has Doubled and Doubled and Doubled his business, and it all began when he “was just solving my own problem”. He and Roland talk today about how he does it, in this short, snack-size episode.

“You said to me, If it’s only 80% as good as I would do it, but they do five times as much as I would do, then I’m way ahead. So that’s when I started farming it out, farming it out, farming it out.” Tom Wilkerson

If you enjoy this podcast, be sure to subscribe on ApplePodcasts, write a review, and share this episode with your business-minded friends.

Listen For, The game-changing advice Roland gave him years ago.

“I’ve consistently been the biggest log jam in my business”. Tom Wilkerson

How he and his wife make working together, work.

How (and why) he keeps his business so lean.

And So Much More! Click to find us on Apple Podcasts and other podcast players.

Find & Follow Tom Wilkerson On Facebook

Contact & Follow Roland On Facebook

On Instagram

Through his Website

Follow Business Lunch Podcast On Twitter

Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

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Nitin Chhoda talks with Roland Frasier about his journey so far as an Entrepreneur. Nitin founded https://intouchbilling.com/ (InTouch) less than five years ago, a growing software company that serves as an engine for over 1500 Physical Therapy practices.

Entrepreneurs of all kinds will appreciate Nitin's take on a relational versus transactional way of doing business, working with teams oversees AND, listen through to the end for some priceless advice a Multi-Billionaire passed on to Nitin. Plus, If you're considering a software business or project, glean from Chhoda's expertise as he shares his mistakes, advice, and insight with Roland.

"Back then, my identity was, my business. How much money I made. I think I was insecure in myself and I was transactional. I think as you grow in your business, you become more relational." Nitin Chhoda

If you enjoy this episode, please subscribe, and we'd love you also to write us an honest review on ApplePodcasts. You can find Nitin Choda on LinkedIn or through his website.

Listen For, How he began by modeling other similar industries and their success.

Why he chose to join a pricey mastermind before masterminds were 'trendy.'

"I intuitively knew that I would stagnate if I didn't surround myself with people that were smarter than me. I am a big fan of watching and learning, and I absorb things like a sponge…I wanted to feel like an insider. Peel back the layers of the onion. And you've got to pay to play". Nitin Chhoda

How to identify "Unicorn Developers." "The right developer in Software is like a Unicorn. Not only because of the way they code but because of the way they think. One unicorn is better than having five average developers. They are four moves ahead". Nitin Chhoda

Where to look online for a great developer, and the use of pre-qualifying projects in his hiring approach (Please note, oDesk is now Upwork).

Why he prefers Java applications but allows the developer to lead the way.

"If you adopt a less common language, you're more likely to succeed because there's a higher barrier to entry." Nitin Chhoda

• Why he doesn't hire Project Managers.

"I think that the owner who drives the vision should work with the developer who amplifies the vision. A project manager is like a third wheel that's needed when you get to a certain scale". Nitin Chhoda

Nitin's advice for someone considering a Software project.

The difference between a copycat idea and something worth developing.

"At the end of the day, this comes down to how many users you have and how fast you can scale."Nitin Chhoda

Chhoda's Shares His Biggest Mistakes So Far! "The biggest lesson is when you work with a lawyer, and you will… it sucks, but you must work with lawyers who are aggressive for you. Not a nice guy". Nitin Chhoda.

Plus, Listen For 3 Questions A Multi-Billionaire Taught Him To Ask. How can you impact the maximum amount of people positively?

How can you imagine a better future? Imagination is more important than anything else.

How can you create unlimited wealth and abundance for your employees?

"This was really profound for me because I realized I shouldn't look at money as a number or a game, I should look at how much value I can create…I need to do game-changing things, and then the money will follow". Nitin Chhoda.

And So Much More! Click to find us on Apple Podcasts and other podcast players.

Mentioned In This Episode InTouchBilling

http://hunter.io/ (hunter.io)

Contact & Follow Roland On Facebook

On Instagram

Through his Website

Follow Business Lunch Podcast On Twitter

Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you'd like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show, and connect us with more high flyers like you.

Click to find us on Apple Podcasts and other podcast players.