Summary:

In this episode, Dave interviews Mallie Rydzik, an academic and stormchaser who now runs a successful consulting business. Mallie's a serial entrepreneur who also writes, coaches, and hosts the Offroad Millennial podcast. Listen as Mallie and Dave tackle topics including disruptive innovation; nailing social media; the future of education; and dealing with mental health issues - always focusing on finding ways to be authentic.

Time Stamped Show Notes:

• 01:00 – Dave welcomes Mallie
• 03:00 – Mallie's background in academia and science
• 03:30 – A host of blogs including Offroad Millennial and Systems Scientist
• 03:50 – "The future of work is collaboration, innovation and remote teams"
• 04:20 – Mallie delivers all-in-one strategy and operations consulting
• 06:50 – Mallie's vision is based on disruptive innovation theory
• 07:20 – The Innovator's Dilemma
• 08:50 – Disruptive innovation comes from areas of markets that big companies don't see
• 10:00 – The lower end of the market is where changes happen
• 10:40 – Big consultancies like SAP would make a loss engaging with small businesses
• 09:37 – Don't go past the point of boredom
• 11:40 – What does disruption look like?
• 12:20 – Blending of social media; importance of contractors; breaking into low-end markets
• 14:15 – Tim Ferriss on the future of work
• 15:50 – What's a career path going to look like in the future?
• 17:00 – Millennials are shaping the future of work whether they want to or not
• 17:50 – Desire for authenticity
• 18:30 – Entrepreneurship: you can have an entrepreneurial mindset within a corporation
• 20:20 – People entering the workforce post-2008 had to find their own work
• 21:15 – Is it stressful for people to have to continually sell themselves?
• 22:30 – Entrepreneurship can be incredibly freeing
• 23:20 – People do their best when they do what they love
• 24:40 – "Authenticity" - having work that's an extension of yourself
• 25:40 – Social media: People don't connect to companies, they connect to people
• 26:40 – Twitter: Mallie has 35,000 posts
• 27:12 – You have to be authentic on Twitter to make it work for you
• 30:20 – Content marketing
• 32:08 – Mallie's challenges with mental health
• 33:20 – Having to step back and deal with your brain and body can be grounding
• 35:20 – It's hard to not know if your brain is going to work against you
• 37:00 – The solution is to get help, however that looks: family, therapy, medication
• 39:35 – The legalization of marijuana as an entrepreneurial space
• 40:28 – School system: what are the benefits of traditional education?
• 41:40 – Are trade educations starting to drive people into white-collar careers?
• 42:40 – In the current education system we're taught to learn, not to do
• 44:00 – Traditional education works for doctors, engineers, etc.
• 45:00 – Issues with standardized testing
• 47:00 – People are trained not to think big
• 49:14 – Think critically about what makes you happy

3 Key Points:

1. Think much bigger than you've ever been encouraged to.
2. People connect with people, not with companies.
3. The future of work is decentralized, collaborative, and project-based

Resources Mentioned:

• Entrepreneur's Organization – The EO Network

• Offroad Millennial – Mallie's podcast
• Systems Scientist - Mallie's consulting business
• Tim Ferris' podcast
• The Innovator's Dilemma - Book that inspired Mallie's business
• Bluefish - Concierge business that's thinking big

Credits:

• Show Notes provided by Mallard Creatives

Summary:

In this episode, Dave interviews Alex Charfen, the CEO of Charfen: a company that coaches entrepreneurs. Listen as Alex shares his passion for entrepreneurship and talks about the factors that lead some people to constantly create, plan, and contribute.

Time Stamped Show Notes:

• 01:00 – Dave welcomes Alex
• 02:02 – American Dream U program: making soldiers successful in civilian life
• 03:55 – Alex's background
• 04:10 – Alex sold his first business at 16; his second at 21
• 04:40 – Bankruptcy in 2008 led to the creation of Charfen
• 06:00 – Charfen ranked 21 in Inc.'s list of fastest-growing companies
• 07:20 – Struggling as a child
• 08:00 – Do entrepreneurs always feel different from those around them?
• 10:10 – Branded as 'developmentally disabled'
• 10:50 – Alex avoided social interaction and obsessively read about success
• 11:50 – Developing panic attacks from bullying
• 13:40 – Thomas Edison was considered backward; Einstein failed algebra twice
• 15:00 – "Business was a beacon"
• 16:00 – Finding a haven in building up businesses
• 17:00 – "Entrepreneurs start businesses because they have trouble with other people's rules"
• 18:30 – The entrepreneur's paradox: learning how to ask for help
• 19:07 – Is entrepreneurship about proving something?
• 21:50 – "The main drive for entrepreneurs is about making a greater contribution"
• 23:00 – Entrepreneurs are people with more energy, drive, jitters
• 24:40 – Edison's incredible focus - today would be considered ill
• 26:00 – A standardised school system crushes people who are different
• 27:10 – The movie Idiocracy
• 28:00 – "EPT" - Entrepreneurial Personality Type
• 31:00 – Entrepreneurs:
  • Feel different
  • Are innately motivated
  • Feel they need to give more
• 32:30 – Alex doesn't feel connected to the world of emotions
• 34:00 – The state of being 'in momentum' - flow, zen
• 36:00 – Being in momentum is a chemical boost
• 37:50 – Constraint is what makes people break down chemically
• 40:00 – People at the top of the game are very physiologically sensitive
• 41:50 – The contribution equation
• 43:00 – Get healthy; reduce pressure and noise
• 43:55 – Start asking for protection and support
• 45:30 – getthirstynow.com
• 46:33 – Build a team to support you
• 47:10 – Alex's article on 'primal foot' in the Huffington Post
• 48:10 – Footwear is the only place where people still accept 'low risk, high reward'
• 49:10 – Lower-body health is reliant on good footwear
• 53:10 – Entrepreneurs can become dysfunctional with pressure and no support
• 54:20 – The things that make us weird are what make us thrive
• 56:00 – There are so many entrepreneurs in the world: you aren't alone
• 58:30 – Most of society's systems are designed to repress EPT
• 1:01:10 – What's next?
• 1:03:30 – Educating about Entrepreneurial Personality Type
• 1:04:10 – A preview of the EPT course

3 Key Points:

1. In order to thrive, eliminate the pressure and noise around you. Keep yourself healthy. Focus.
2. Ask for support and protection. It seems like the hardest thing to do, but having a team makes it possible to learn and achieve far more.
3. Don't be scared by feeling different: almost every successful person in history has felt like that. Difference is what makes entrepreneurs thrive.

Resources Mentioned:

• Entrepreneur's Organization – The EO Network

• Get Thirsty– Alex's hydration programme
• American Dream U - Helping soldiers make a successful transition to civilian life
• Charfen - Alex's current business, educating entrepreneurs
• Idiocracy - Film about being the only person to see certain things
• Primal Foot - Alex's article on footwear in the Huffington Post

Credits:

Show Notes provided by Mallard Creatives

Summary:

In this episode, Dave interviews Zvi Band, the founder and CEO of Contactually, a CRM tool designed to actually help users manage client relationships. Contactually has already raised over $12 million in funding, and is aiming to grow into a billion-dollar business. Listen as Dave and Zvi talk about how investing in relationships secured Zvi's funding - and break down the process of researching, pitching, and funding a incredibly successful startup, step by step.

Time Stamped Show Notes:

• 01:00 – Opening of podcast
• 02:20 – Developing a great company culture is a process
• 02:55 – Dave introduces Zvi
• 03:30 – Contactually is a platform for businesses that rely on relationships
• 04:50 – Differs from other CRMs in its focus on nurturing relationships
• 05:50 – How do we enable businesses to build personal and authentic relationships?
• 07:00 – We developed a mission to be thought leaders: people want to hear about it
• 08:20 – "Bottom-up adoption" - tools that users choose
• 09:00 – CRMs have largely become reporting tools - we wanted something else
• 09:50 – "How do we help the end user?"
• 10:50 – Relationships can only exist between people - not businesses
• 12:30 – Currently in a snap-back from the first generation of social media
• 13:40 – Zvi is a software developer by trade
• 14:30 – Very introverted through school - but saw the importance of relationships
• 15:00 – Worked as a consultant by knowing people
• 16:00 – Saw a gap for a product that helped build better relationships
• 18:00 – The first funding offer for Contactually led to a hard decision for Zvi and to close down his existing business
• 20:00 – A walkthrough of Zvi's decisions around funding
• 21:00 – "I needed a 'burn the boats' moment"
• 21:40 – Knew he wanted to focus on Contactually - so applied for venture capital
• 22:20 – First round of funding was $50k from 500 Startups
• 24:10 – Most incubators take around 5% of the business
• 24:50 – Then raised $500k from angel investors
• 25:40 – "Investors are investing in either the track, the horse, or the jockey"
• 26:30 – Zvi's reputation allowed him to attract investors
• 27:20 – There's no personal risk with angel investors apart from reputation
• 28:30 – Get a good start-up lawyer!
• 30:30 – Two types of funding: equity or convertible debt
• 32:00 – Investors currently own 30-40% of the company
• 33:40 – After angel investment, moved on to seed financing to raise $3.5 million
• 35:30 – Series A investment raised $8 million in capital
• 37:00 – Not currently profitable: they're investing in rapid growth
• 39:00 – "Ideas mean nothing: execution means something"
• 39:30 – How do you turn an idea into a product?
• 39:50 – "The moment you have a good idea - turn around to someone and pitch it"
• 40:50 – If there's a market - set up a small landing page and see if people will sign up
• 41:30 – Talk to the people that sign up: see what they want
• 42:10 – You'll now have enough specifications to start building a minimum viable product
• 43:10 – Start with a small, simple, high-quality product
• 44:30 – Create a visual representation: wire-frame tools like Mockingbird or Balsamiq
• 45:00 – Representations let you talk to developers and potential users
• 45:50 – Decide who you'll learn from: users or designers.
• 47:10 – In-house or outsourced development? Zvi suggests finding a co-founder.
• 49:00 – How to connect with Zvi: Twitter and email

3 Key Points:

1. The best way to grow your business and your life is to build and maintain relationships with other people. Your reputation and your networks are valuable resources.
2. If you have an idea that seems promising: research your market. Your potential users are your best educational tool.
3. Become a thought leader in your area. You'll gain exposure not by trying to sell your product, but by having something interesting to say.

Resources Mentioned:

• Entrepreneur's Organization – The EO Network

• Contactually - A platform to manage client relationships effectively
• 500 Startups - A startup incubator
• Mockingbird and Balsamiq - tools to create wireframe mockups of your product

Credits:

Show Notes provided by Mallard Creatives

Summary:

In this episode, Dave interviews Steve Sims: ex-bricklayer, stockbroker for 24 hours, and now running the world's top luxury concierge company. Listen as Steve talks about the story behind The Bluefish; his new consulting company; and his core philosophy of "getting shit done and being yourself".

Time Stamped Show Notes:

• 01:20 – Opening of podcast
• 02:00 – The 'green room' of the podcast
• 03:00 – The Ugly Sims
• 04:30 – Dave welcomes Steve
• 05:45 – Many of the podcast's previous guests are connected to Steve
• 06:50 – "I'm not a fucking onion...what you see is what you get"
• 07:35 – In Hong Kong, Steve started a secret society that became The Bluefish
• 08:40 – A high-end concierge service: if you can dream it, they can make it happen
• 10:00 – The origins of The Bluefish
• 10:40 – Steve talked his way into a stockbroking job and was flown to Hong Kong
• 11:00 – Arrived on Saturday and was fired on Tuesday
• 15:00 – Steve decided the way to get a job was to know rich people
• 15:40 – Worked as a concierge and started setting up passwords
• 17:25 – Finding your mold
• 18:20 – "I was an illiterate, ugly feller that got shit done"
• 19:30 – You never fail: you just educate yourself on the wrong way of doing things
• 21:30 – What's the worst that can happen?
• 22:30 – Is it true that entrepreneurs are screw-ups?
• 24:50 – Grew up south of London
• 25:15 – Made a conscious decision to get off the building site
• 26:50 – Didn't see himself as disadvantaged
• 27:20 – "I'm ahead of the game: I know what it's like to be able to do stuff"
• 28:41 – Steve was a champion kickboxer: still boxes at 50
• 30:00 – The better I got at fighting, the less I fought
• 31:00 – Is being at a conference table like being in a bar fight?
• 33:00 – Be straight up with people: it's better to know if they don't like you
• 35:30 – Steve: "Authenticity is a bullshit word. It's an effort to not be authentic"
• 36:10 – Don't waste time not being yourself
• 37:00 – Steve's wife and family life
• 39:20 – Steve's dogs
• 41:00 – Have you ever used your business for yourself?
• 42:00 – It's not money that makes an event amazing: it's thought, passion, and detail
• 43:30 – Name-dropping: "I don't want who I stand next to, to define who I am"
• 45:00 – "Constantly looking at my bank account stopped me being me"
• 46:30 – Wealth is incredibly different to money
• 48:00 – Steve's wife is the business' CFO: he doesn't know how much money Bluefish makes
• 49:20 – How do you help people to think huge?
• 50:30 – You have to analyze what your client really wants
• 51:40 – People are scared to talk to you about their dreams
• 52:30 – The Challenger Sale
• 54:30 – Ugly Sims - Steve's consulting company
• 56:30 – Working for Ferrari and Bentley
• 58:00 – $5000 for Bluefish membership
• 59:00 – Steve's morning routine
• 1:00:30 – Dave: "Tell me about a crazy phone call you've had at 3 in the morning"
• 1:01:45 – Bluefish has just under 3000 customers and 12 full-time employees

3 Key Points:

1. Be yourself. Put another way: don't waste time and effort not being yourself. People will like you or they won't
2. Wealth is different to money. Wealth is in relationships, security, and loving what you do
3. Learn how to get stuff done. It's the most transferable skill you'll ever have

Resources Mentioned:

• Entrepreneur's Organization – The EO Network

• The Bluefish – Steve's luxury concierge company
• Ugly Sims - Steve's new consulting business
• The Challenger Sale - Challenging customer relationships

Credits:

• Show Notes provided by Mallard Creatives

Summary:

In this episode, Dave interviews David Cummings, and one of two founding partners of Pardot, a company that dedicated itself to redefining the way B2B marketing automation is handled. Listen in as Dave and David discuss the process of bootstrapping a SaaS juggernaut, the struggles of competing against VC money, and how to best handle the acquisition process.

Time Stamped Show Notes:

• 00:42 – Dave covers David's background
• 01:49 – Started and sold Pardot (US$95 million cash)
• 03:25 – Dave's introduction to entrepreneurship
• 04:30 – Statbook for baseball and softball statistics (1995)
• 05:45 – The ON start-up series
• 07:24 – David attended Duke University
• 07:57 – Why David went to college as opposed to sticking with his businesses
• 09:21 – The Hard Thing About Hard Things
• 11:02 – Making a product to update and change a website with ease
• 14:00 – David got in on the SaaS explosion at the ground floor
• 15:19 – In 2006, David had the idea for Pardot
• 17:11 – As the CEO, your job is to become LESS needed to the company—the more you're needed, the more you're doing wrong
• 18:37 – Find partners that complement (not replicate) your skillsets
• 19:53 – Coming to the realization that Pardot was a diamond in the rough
• 22:50 – By the time Pardot was sold, the company was averaging about $15K per customer per annum
• 25:12 – The value of having a passion for culture
• 25:50 – Be the best place to work, and the best place to be a customer
• 28:45 – Don't use the word "value" use the meaning of "value"—actions are louder than words
• 31:20 – Culture and "schwag" are different—perks don't create culture, they can help it, but they don't create it
• 34:29 – Highlighting the "offer receiving" process
• 35:50 – Always use this line, "we're not for sale, but what are you offering?"
• 37:12 – Walking through the acquisition process and valuation process
• 39:41 – No brokers, only an attorney—the David did the negotiation all on his own with his partner
• 42:27 – The deal is closed, the money is in the bank, the wire transfer is complete—but David can't say a THING for 48 hours because the acquiring company is public
• 44:46 – Atlanta Tech Village
• 45:08 – AtlantaTechVillage.com

3 Key Points:

1. Find business partners that complement your skills, not replicate them.
2. "Schwag" and perks will not create a winning culture in your business—they can help amplify a winning culture, but they can't create it.
3. "We're not for sale but what are you offering?"—Nine words you need to memorize in the even someone expresses interest in acquiring your business.

Resources Mentioned:

• Entrepreneur's Organization – The EO Network
• Atlanta Tech Village – Collaborative office space for startups in Atlanta
• The Hard Thing About Hard Things – A fantastic book recommended by both Dave and David
• Pardot – The crown jewel of David's entrepreneurial accomplishments
• David Cummings – Today's guest

Credits:

Show Notes provided by Mallard Creatives

Summary:

In this episode, Dave invites Philip McKernan, an inspirational speaker and coach for individuals, couples and entrepreneurs to the EO Podcast. Listen as he talks about finding true meaning in life, becoming authentic, and discerning between happiness and buying material things for distraction.

Time Stamped Show Notes:

• 00:28 – Dave introduces Philip McKernan
• 01:22 – Rich on Paper, Poor on Life
• 01:26 – Dead Man Walking: A Journey from Mindset to Soulset
• 02:54 – Workplace culture
• 07:05 – Three Pillars of Happiness or Finding Meaning:
  • Work
  • Self
  • Other
• 08:13 – They (employees) want to know that they matter.
• 08:40 – Stop telling people what you believe, start showing them by the way you act
• 08:52 – Everyone around you will get inspired by what you do, not by what words are coming out of your mouth
• 09:28 – Working with individuals and couples
• 11:06 – They're scared to find out perhaps that the relationship is not as great as they've been telling themselves every single day
• 11:29 – Our benchmark for what great is, is what we historically experienced in business, in life, and in relationships.
• 12:24 – Creating conversations they don't want to have, they don't know how to have, or they don't think they should have
• 13:17 – Philip doesn't believe in the phrase, "Fake it 'til you make it"
• 14:09 – We are all leaders if we choose to be; We just lead in different ways
• 16:15 – We spend so much time trying to pretend –trying to be something that we are not –assuming and hoping it will take us where we want to be
  • 16:25 – In that process (pretending) we lose ourselves, we lose our identity and we dilute the essence of who we are.
• 17:05 – Retreats
• 18:51 – Wisdom doesn't lie
• 19:47 – Why Philip left Ireland
• 20:15 – Tall Poppy Syndrome
• 21:17 – The Ireland that I knew was starting to get diluted.
• 21:22 – Everybody was chaotically chasing the money on the assumption that it would bring them the happiness
• 21:28 – There's no problem pursuing financial wealth but not at the cost of all the other elements of our lives
• 22:00 – It is very difficult to find the authenticity of who you really are
• 22:48 – The work that you do should never define who you are as an individual
• 23:19 – Philip's transition from real estate to where he is now
• 23:40 – Authenticity is something that should never be self-proclaimed
• 26:20 – Time is not our greatest asset
• 26:36 – The greatest asset of people is themselves
• 27:40 – As the leader grows, so should their leadership style
• 28:00 – Allowing the work to catch up on you
• 28:22 – In the absence of clarity, take action
• 29:59 – Helping people find what they're meant to do
  • I didn't find what I was meant to do… I uncovered it.
  • Is it possible to uncover it
• 31:55 – What's the point of coming to work on something you don't believe in?
• 33:25 – Have I taken the time out of my life to ensure that I'm on the right path?
• 35:15 – The magic question of a salesman – How so?
• 35:40 – Money Can't Buy Me Happiness but it Can Buy Me a Boat - Chris Johanson
• 36:25 – Relationship between material things and happiness
• 38:05 – Buying material things for a distraction because you're not willing to face the real issue
• 39:04 – Details on the Dead Man Walking: A Journey from Mindset to Soulset
• 40:34 – Goal setting is not the enemy; The problem is the goals we are setting aren't aligned to who we are
• 41:50 – If you are not being authentic, then the goals you think you wanted are actually, potentially partly or entirely are not authentic
• 43:52 – Let go of this overwhelming need to set goals and allow our goals to find us
• 44:00 – When you're too busy chasing something, you miss out on something else
• 47:35 – Entrepreneur's intuition
• 49:49 – Dealing with negativity
• 51:50 – When you understand the negative patterns, the origin of negativity, the origin of the fear, the next time it strikes will not be as deep –it loosens its grip on you
• 52:52 – Almost got killed by an elephant in Nigeria
• 55:05 – We don't want the world to judge us
• 55:40 – Raising children

3 Key Points:

1. Stop telling people what to believe, start showing them by action
2. The greatest asset of any man or woman has is themselves.
3. When you're chasing something obsessively, you're missing something else.

Resources Mentioned:

• Entrepreneur's Organization – The EO Network
• Rich on Paper, Poor on Life– book written by Philip
• Dead Man Walking: A Journey from Mindset to Soulset – book written by Philip
• Money Can't Buy Me Happiness but it Can Buy Me a Boat – song mentioned by Dave by Chris Johanson

Credits:

Show Notes provided by Mallard Creatives

Summary:

In this episode, Dave welcomes Verne Harnish, one of the Top Ten Minds in Small Business to the podcast. Together, they talk about Verne's marquee principles, his life as an entrepreneur, and how he prepares the next generation for a "leap." Verne also highlights the key elements that contributed to the wealth of success he's enjoyed over the course of his life.

Time Stamped Show Notes:

• 00:28 – Dave welcomes Verne Harnish
• 01:17 – Dave talks about Verne's background
• 01:43 – Mastering the Rockefeller Habits
• 02:00 - YEO (Young Entrepreneurs' Organization)
• 02:35 – Verne went to school to become a mechanical engineer
• 02:41 – Corridor Principle
• 03:30 – Verne talks about considering the a life in the military
• 04:23 – The "Additional Option"
• 05:37 – How mechanical engineering helped Verne become better at business
• 06:25 – Technical Entrepreneurship Course –mix of Engineering and Business Departments
• 07:00 – Verne's family background in business
• 08:09 – Verne's upbringing as a child
• 09:46 – Transitioning from privileged to broke
• 11:18 – Moving to Barcelona
• 12:39 – Idea of "Caught than Taught"
• 13:11 – "Demonstrate the life you want for your children"
• 15:40 – A different kind of "leap"
• 17:06 – How 9/11 destroyed one of Verne's businesses
• 18:38 – Rites of Passage
• 18:55 – One Page Personal Plan
• 19:00 – There's no such thing as a work/life balance…it's a blend
• 19:46 – Rite of Passage –detailed –how it helped his son Cameron to develop from a boy to a young man
• 22:24 – Verne also put his second son, Cole through the Rite of Passage
• 22:45 – Rite of Passage for Verne's other son, Cole
• 23:15 – International Brotherhood of Magicians—a perfect example of Verne's Corridor Principle
• 24:40 - Mastering the Rockefeller Habits 2.0
• 26:41 – John D. Rockefeller—the man that inspired Verne's book from
• 28:45 – Daily huddle
• 30:20 – Verne's weekly routine based from Willard Garvey
• 31:38 – Verne's charity participation
• 33:54 – Looking back at Verne's 20s with pride
• 35:00 – Plans for the next decade
• 36:35 – scalingup.com

3 Key Points:

1. Actively demonstrate the life you want for your children.
2. Stop believing in a work/life balance and start accepting that it's a work/life blend.
3. Organize your life like you'd organize days of the week

Resources Mentioned:

• Entrepreneur's Organization – The EO Network
• Mastering the Rockefeller Habits – book authored by Verne
• Corridor Principle – Verne mentioned in his interview
• One Page Personal Plan – new book that Verne created
• International Brotherhood of Magicians – an organization where Verne is a member
• Mastering the Rockefeller Habits 2.0 – book authored by Verne
• John D. Rockefeller – where Verne routed his book from
• Willard Garvey – Verne's first mentor where he got his weekly routine
• scalingup.com – Verne's website

Credits:

Show Notes provided by Mallard Creatives

Summary:

In this episode, Dave shares the show with Robbie Kellman Baxter, author of The Membership Economy, a keynote speaker and consultant. Listen as Robbie introduces the audience to the power of the membership and subscription business model, and how any business can implement a few key strategies to become one.

Time Stamped Show Notes:

• 00:28 – Dave introduces Robbie
• 00:38 – The Membership Economy
• 00:40 – Dave talks more about Robbie's background
• 01:30 – Innovation Hub with Kara Miller
• 02:27 – Amazon Prime, Subscribe and Save, Blue Apron, Barkbox, Dollar Shave Club, Microsoft Office 360, Salesforce, Hubspot, Rackspace, Quickbooks
• 03:05 – What Robbie does
• 04:08 – Working for Fields
• 04:39 – Influences and upbringing
• 05:14 – Growing up in Silicon Valley
• 06:19 – Studied poetry in college
• 08:10 – Summer at Mrs. Fields
• 09:28 – Debbie Fields & Randy Fields
• 10:45 – Dave's work experience
• 11:32 – Perception is reality
• 12:58 – Beginning of subscription based businesses
• 13:31 – Formal known relationship with customers
• 14:08 – Technology has expanded in such a way to expand the infrastructure that enables trusting relationships
• 15:30 – There are new ways to offer the value that the consumer really wants without the burden of ownership
• 16:10 – Loyalty cards and programs
• 16: 31 – Tripadvisor
• 16:58 – Yahoo, Oracle, Ebay, and Netflix
• 17:42 – Peninsula Strategies
• 18:25 – Working with Netflix
• 21:03 – Smaller businesses that have incorporated membership subscriptions
• 21:08 – Riches in the Niches
• 21:26 – Any kind of business can become a membership business or can apply principles of the membership economy to build greater engagement loyalty with their audience
• 22:40 – Looking for ways to maximize value for the consumer
• 23:20 – Our audience doesn't want to get sold to –they hate marketing
• 25:00 – Dave shares his business experience
• 27:15 – Dave shares an anecdote
• 28:22 – Thinking about your long-term relationship with your customers and continuing to evolve the product you offer to them
• 28:44 – You have to follow the need and continue to meet the mission
• 29:45 – Physical membership economy and its benefits
  • Convenience
  • Cost Saving
  • Discovery
• 31:48 – Subscription fatigue
• 32:42 – Hiding the cancel button
• 34:18 – Reputation goes a very long way
• 35:38 – Recurring revenue
• 38:03 – APPO (Association of Personal Photo Organizers)

3 Key Points:

1. There are new ways to offer the value that consumers really want without the burden of ownership.
2. Any kind of business can become a membership business.
3. Thinking about your long-term relationship with your customers and continuing to evolve the product you offer them is a gateway to success.

Resources Mentioned:

• Entrepreneur's Organization – The EO Network
• The Membership Economy – book authored by Robbie
• Innovation Hub with Kara Miller –mentioned by Dave
• Fields –where Robbie had her first job
• Silicon Valley –Robbie's hometown
• Debbie Fields & Randy Fields –owners of Mrs. Fields
• Peninsula Strategies – Robbie's company
• APPO (Association of Personal Photo Organizers) –mentioned by Robbie in her recurring revenue example

Credits:

• Show Notes provided by Mallard Creatives

Summary:

In Episode #1 Dave interviews Ari Meisel, author of Less Doing, More Living and host of the podcast by the same name. Listen as Dave and Ari talk about the latter's personal struggle that led to a new, empowering lifestyle centered on reclaiming time, rebuffing stress, and getting more living out of every single day than anyone could possible imagine.

Time Stamped Show Notes:

• 01:19 – Ari joins the show.
• 01:53 – Straight out of high school, Ari Meisel had two companies up and running.
• 02:29 – Ari was diagnosed with Crohn's disease at the age of 23.
• 04:05 – Entrepreneurs often run into setbacks. Ari often accepted tasks he didn't necessarily know how to do, but learned in the process of doing them.
• 05:06 – Alongside his consulting business, Ari runs a coaching program based on Less Doing, More Living.
• 06:01 – Ari recommends Evernote, If This Then That, and using Virtual Assistants such as Less Doists to be effective in daily routines.
• 07:40 – Ari uses If This, Then That to recognize uploads onto Evernote and upload them onto Facebook automatically.
• 08:40 – Inbox zero is a practice Ari recommends to keep your email completely up-to-date and free from spam or unread messages.
• 11:24 – Ari believes that email will eventually become obsolete.
• 12:50 – Often companies use services like Slack to less (or even eliminate) the use of email.
  • 14:46 – One problem with email is that it's slower compared to instant messaging platforms that can also send multimedia instantly.
• 17:13 – People grow when they're challenged.
• 18:21 – When Ari was combating Crohn's disease, he strived to make his metabolism as durable and fast as possible.
• 18:52 – Less Doing, More Living was Ari's first book and has been translated into several languages, his next book is nearly complete, but does not have a title.
• 20:21 – Tools are important for improvement, but they're useless with if you don't have the right habits to use them
• 21:17 – Ari talks about Less Doing Virtual Assistants.
  • 23:20 – You can learn more about Less Doing Virtual Assistants and get on the waitlist at lessdoists.com
• 23:57 – Ari recommends the book Emergency by Neil Strauss.
• 24:37 – Given 30 extra minutes in his day, Ari would get some boxing lessons.
• 25:51 – Ari doesn't believe in a work-life balance. He prefers to think of it as a work-life integration.
• 26:52 – Ari's manipulated his time so that he spends 80% of it with his family. Part of the reason is that his children are very young. He believes that being conscientious with how one spends his/her time leads to a happy life.
• 27:22 –It's paramount to focus on what makes you happy.
  • 28:00 – For instance, if Ari focused more on his businesses they'd grow faster, but his family is what makes him happy.
• 29:48 – Visit com, to book a free thirty minute coaching call

3 Key Points:

1. Entrepreneurs frequently run into setbacks, but grow because of them.
2. Strategically employing automation and outsourcing will radically enhance your daily life.
3. Focus on what makes you happy. Period.

Resources Mentioned:

• org – Entrepreneurs' Organization
• Less Doing Call – Book a free thirty minute call to get advice on scheduling or anything related to being more effective in life.
• Less Doing, More Living – Ari Meisel's work to make everything in life easier.
• Evernote – Useful tool Ari uses.
• If This, Then That – Make your work flow.
• Less Doists Virtual Assistant – Virtual Assistant powered by Less Doing, More Living.

Credits:

Show Notes provided by Mallard Creatives

Summary:

In this episode, Dave interviews Devin Matthews of Parker-Gale Capital—a private equity firm based out of Chicago that focuses on buy-out investments. Listen as Dave and Devin do a DEEP dive into the intricate processes surrounding successful business valuation and acquisition.

Time Stamped Show Notes:

• 00:30 – Dave welcomes Devin
• 00:45 – Parker-Gale Capital—private equity fund out of Chicago
• 01:07 – PEFuncast
• 02:19 – Went to Tuck to obtain an MBA
• 03:52 – Devin is the guy with the answer key for entrepreneurs
• 05:03 – Build a business that's sustainable and drives profit
• 06:04 – Devin ONLY buys companies from founders
• 07:52 – How Parker Gale came to be and how it works
• 10:18 -- Most founders sell to Parker Gale because they want out
• 15:25 – The different flavors of venture capital
• 16:52 – Is the venture capital world looking for the one unicorn?
• 17:50 – Most venture guys are willing to take some pretty sizeable losses
• 18:29 – A typical venture fund might have 30 businesses in its portfolio, a buy-out fund might have 10
• 19:33 – Private equity aims to make money on every deal—3 to 4X their money over a 10 year fund life
• 21:16 – Where do Private Equity funds get their money versus Venture funds?
• 24:04 – The leveraged buyout
• 26:48 – Standardizing the business—getting to a recurring revenue format
• 27:30 – The Three P's: Profitability, Predictability, and Prospects
• 29:43 – Accrual-based accounting is a necessity if you're going to get acquired
• 30:28 – Cash is king and it always will be
• 32:31 – The relationship between profitability and growth
• 33:14 – If you're not profitable, it's hard to invest in a business
• 35:15 – If you started a business and now intention of selling it—extract as much profit as possible
• 38:09 – Are expenses added into EBIDA?
• 40:20 – The importance of having quality representation (advisors) in the negotiation process
• 43:25 – The auditing process of an acquisition by a Private Equity firm is BRUTAL
• 44:24 – If the due diligence process doesn't go smoothly the deal is doomed
• 48:08 – Devin defines the value of a GREAT lawyer
• 51:23 – The danger of over-valuing and under-valuing your business
• 55:15 – The TV show Silicon Valley?—Shockingly accurate

3 Key Points:

1. The three keys to having a successful business (regardless if you want to sell it)?—The three P's: Profitability, Predictability, and Profits.
2. Cash is king—it always has been and it always will be.
3. Get mentally and physically prepared to endure the auditing process if you're selling your business—it's grueling and private equity firms spare no expense to cross the t's and dot it i's.

Resources Mentioned:

• Entrepreneur's Organization – The EO Network
• Tuck – The business school at Dartmouth
• EBIDA – Earnings before interest, depreciation, and amortization
• PEFuncast – Devin's podcast on Private Equity
• Parker Gale Capital – Devin's PE Firm

Credits:

Show Notes provided by Mallard Creatives