In this episode, guest Terry Thayer shares his journey from being self-employed to a business owner, the role of business automation, and the importance of investing in people. He discusses the benefits of the 75 Hard program, running a business with a significant other, and the impact of coaches and the book 'Traction' on business growth. Terry emphasizes on the importance of helping others, the drive to give back, and the difference between donating to charities and direct help. The episode concludes with a discussion on wealth, happiness, and the significance of dreaming big to give big.
Terry Thayer is a recovered general contractor who used to burn the candle until it was a molten puddle of wax. He managed crews of carpenters, drywallers, plumbers, etc. and had to take up any slack they left behind. Until one time at a seminar he attended opened his eyes to the world of systems. Terry promptly went home, fired his crews, and spent the next few months building a real estate business based heavily on systems. What he couldn’t find from someone else, he put his head down and figured out himself. Now he manages his business from afar, with a heavy emphasis on training and practicing for his employees. Even his hiring process is highly automated and systematized, reducing his time to hire a new employee to two hours. Terry also created the TAB (The Absolute Best) Retreat, a networking and educational event for entrepreneurs looking to improve their businesses and their lives.
Connect with Terry on Instagram at @terrythayerii or Facebook at terrydthayerii. You can find more information on the TAB Retreat at www.tabretreat.com.
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(0:00) Introduction to Terry Thayer and the Go Big to Give Big Podcast
(1:37) Terry Thayer's journey in creating business automation and transitioning from self-employed to business owner
(10:12) The risks and rewards of scaling a business, and investing in the right people
(19:37) The benefits and challenges of the 75 Hard program and the impact of travel on motivation
(23:56) Running a business with a significant other and planning personal and business future together
(27:22) The role of coaches and the book 'Traction' in business growth, and transitioning into the giving side of things
(30:32) The importance of helping others in business, outsourcing, and the drive to give back
(34:13) The difference between writing checks for charities and helping people directly
(38:00) Rapid fire giving round, the importance of giving from the beginning of business, and unique ways of giving back
(41:20) The question of whether money can buy happiness, and Terry's personal experience with wealth and happiness
(42:22) Conclusion, appreciation for Terry's insights, and final thoughts on the importance of dreaming big to give big