The Corporate Escapee: On a Mission to Help 100,000 GenXers Escape the 9-5!

In this episode of the Corporate Escapee Podcast, Joe Manganelli shares his journey from a corporate finance role to becoming an entrepreneur and the founder of Calculate, a financial services company. 

He discusses the challenges and triumphs of building a business, the importance of embracing discomfort, and the lessons learned along the way. Joe emphasizes the value of testing assumptions, the significance of enthusiasm in business, and the need for accountability in entrepreneurship. 

He also reflects on his recent transition to a new role as Chief Revenue Officer at Amalgam, a software company for accounting firms, and offers advice for aspiring entrepreneurs.

Links

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

Takeaways

• Embrace the discomfort of entrepreneurship.
• Don't wait for the perfect idea; start with what you have.
• Testing assumptions with clients is crucial for success.
• The early days of a business are often the most exciting.
• Perfection can hinder progress; focus on being good enough.
• Networking in small business is collaborative and supportive.
• Scaling a business requires understanding what is scalable.
• Accountability in entrepreneurship can be invigorating.
• Transitioning from corporate to entrepreneurship can be a mindset shift.
• Always be open to new opportunities and networks.

Sound Bites

• "I realized I had it right in my hands."
• "Don't be afraid to test those assumptions."
• "The worst thing that happens is you fail."

Chapters

00:00 Introduction and Current Endeavors

04:21 The Journey from Corporate to Entrepreneurship

11:55 Building Calculate: The Early Days

18:04 Scaling and Diversifying Services

22:10 Transitioning and Selling the Business

24:59 Current Role and Future Aspirations

Keywords

entrepreneurship, corporate escape, startup journey, accounting software, business growth, scaling, revenue streams, personal development, risk-taking, networking

In this episode of the Corporate Escapee Podcast, Gabrielle shares her journey from a full-time marketing career to going solo, discussing the importance of understanding taxes and business structures like LLCs and S-Corps. 

She emphasizes the advantages of S-Corps in reducing self-employment taxes and the necessity of managing payroll effectively. 

The conversation also highlights the role of technology in simplifying financial management for escapees and the future of solo businesses in a rapidly changing workforce. 

She provides practical advice on starting a business, including the necessity of separating personal and business finances, the significance of business insurance, and the considerations for forming an LLC or S-Corp. 

Links:

Lettuce Promotion: Lettuce landing page: https://hubs.ly/Q02SpnrJ0 Code is ESCAPEE500

Free Resources: https://lettuce.co/resources

Gabrielle LinkedIn: https://www.linkedin.com/in/gabrielletenaglia/ 

Takeaways

• Freelancing offers flexibility and control over one's career.
• Understanding tax structures is crucial for freelancers.
• S-Corps can significantly reduce self-employment taxes.
• Time is a valuable resource that should not be wasted on bookkeeping.
• Automating financial management can alleviate stress for freelancers.
• Choosing the right business structure can lead to substantial tax savings.
• Freelancers need to pay themselves a reasonable salary to comply with IRS regulations.
• Technology can simplify the complexities of managing a freelance business.
• Networking is essential for finding opportunities and support.
• The future of work is shifting towards more freelancers and solo businesses. Finding experts that understand your business is crucial.
• Separate your personal and business finances from the start.
• Business insurance is essential for liability protection.
• An LLC is not always necessary unless concerned about liability.
• S-Corps can provide tax benefits for committed business owners.
• Fractional teams can offer specialized knowledge and skills.
• Sharing your ideas can attract clients to your business.
• Celebrate your achievements as a solopreneur.
• Understanding tax implications is vital for financial success.
• Lettuce provides tailored solutions for solo entrepreneurs.

Sound Bites

• "My time is my most valuable resource."
• "You have to pay yourself a reasonable salary."
• "I didn't want to do any of it."
• "We are focused only on businesses like yours."
• "You need an LLC to have an S-Corp."
• "Get an S-Corp because every penny you make saves."
• "You are doing a great job."
• "Start with the idea before the product."
• "The government doesn't need any more from us."

Chapters

00:00 The Journey to Freelancing

02:56 Understanding Taxes and Business Structures

06:05 The S-Corp Advantage

09:01 Navigating Payroll and Tax Responsibilities

11:49 The Role of Technology in Managing Finances

15:07 Finding the Right Tools for Freelancers

18:00 The Future of Freelancing and Business Management

25:10 Understanding Business Needs and Solutions

28:19 Best Practices for Starting a Business

31:36 Navigating LLCs and S-Corps

35:22 The Value of Fractional Teams

41:41 Encouragement for Solopreneurs and Final Thoughts

Ray McKenzie, founder and managing director of Red Beach Advisors, shares his journey from corporate to entrepreneurship. He started his consulting firm in 2015, focusing on go-to-market strategy and operational efficiency for Fortune 1000 companies in cybersecurity and cloud computing. Later, he founded Starting Point, a workflow management and automation platform for professional services companies. Ray emphasizes the importance of building and maintaining relationships, leveraging your corporate network, and utilizing referrals to acquire clients.

He also discusses the need for a centralized system to manage projects and communication, which led to the creation of Starting Point. Starting Point is a workflow management platform that allows teams, clients, and administrators to log in and see everything in one place. It offers features such as lead management, AI-powered proposal development, client onboarding, engagement management, file management, performance tracking, and invoicing.

The platform was initially built for internal use by Red Beach Advisors but gained traction when shared with professionals in the consulting industry. The development of Starting Point was driven by the need to solve the challenge of scattered information and lack of visibility in managing projects and client relationships.

Links

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

Website: https://www.redbeachadvisors.com/

Website: www.startingpoint.ai

Takeaways

• Building and maintaining relationships is crucial for business success.
• Leverage your corporate network and referrals to acquire clients.
• A centralized system for project management and communication is essential.
• Starting a business while still working full-time can be a viable option, depending on individual circumstances. Starting Point is a comprehensive workflow management platform designed for professional services and shared services organizations.
• The platform allows teams, clients, and administrators to have visibility and access to all relevant information in one place.
• Starting Point offers features such as lead management, AI-powered proposal development, client onboarding, engagement management, file management, performance tracking, and invoicing.
• The platform was initially built for internal use by Red Beach Advisors but gained popularity when shared with professionals in the consulting industry.

Sound Bites

• "The people you're working with when you're 23, 25, 27, 29, fast forward 20 years, those are the people who are the VPs, the SVPs, the CEOs, the board directors of major companies."
• "These people are inherently receiving a community or a workforce bench of people and resources that they can use."
• "I just found myself not really having a great grasp as to everything that was going on."
• "It's a workflow management platform that allows your team to log in and see everything, your client able to log in and see everything."
• "I started showing it to people in professional services, consulting firms, people in my network. And as I started showing it to people in my network, they were like, hey, this is something we could use."
• "It's ideally meant to just be simple for people to be able to use."

Chapters

00:00 Introduction and Catching Up

02:35 Transitioning from Corporate to Consulting

06:37 Managing Clients and Starting Red Beach Advisors

09:55 Starting a Business While Working Full-Time

16:16 The Inspiration Behind Starting Point

20:00 Introduction to Starting Point

29:02 Features and Benefits of Starting Point

31:36 Addressing the Challenge of Service Delivery

35:34 Advice for Transitioning from Corporate to Solo

In this episode of the Corporate Escapee Podcast, Nina Sossamon-Pogue shares her multifaceted journey from being a U.S. gymnast to a successful journalist, and then transitioning into the tech industry.

She discusses the challenges she faced, including injuries and career setbacks, and emphasizes the importance of resilience, storytelling, and mindset in navigating life's transitions. Nina provides valuable insights on identifying personal skills, the significance of positive language, and the necessity of building a supportive network. She also introduces her framework for resilience, TIPS, and encourages listeners to envision their ideal life and take proactive steps towards it.

Takeaways

• Nina emphasizes the importance of resilience in navigating life's challenges.
• She encourages listeners to identify their skills and how they can transfer to new opportunities.
• Storytelling is a crucial skill in business and personal branding.
• It's essential to visualize what you want your life to look like.
• Transitioning from corporate to entrepreneurship requires a mindset shift.
• Understanding the phases of life can help in managing expectations and experiences.
• Creating a personal timeline can provide clarity on past experiences and future goals.
• Positive language can significantly impact your mindset and how others perceive you.
• Building a support network is vital for success and personal growth.
• Nina's TIPS framework offers a structured approach to overcoming challenges.

Sound Bites

• "It's okay to not be okay, but not to stay that way."
• "Your words become your reality."
• "You're either giving energy or taking energy."

Chapters

00:00 Introduction to Nina's Journey

03:08 Navigating Life's Challenges and Career Transitions

06:06 Finding Your Skills and Purpose

09:02 The Importance of Storytelling in Business

11:48 Identifying What You Want in Life

14:54 The Shift from Corporate to Entrepreneurship

18:14 Understanding Time and Life's Phases

20:56 Creating Your Own Life Timeline

23:45 The Power of Language and Mindset

27:04 Building a Support Network

29:59 Framework for Resilience: TIPS

33:00 Skill Stacking for Career Success

36:02 Mindset for Job Seekers

38:55 The Importance of Positive Language

41:56 Final Thoughts and Upcoming Projects

Hear from a recent corporate escapee and her journey so far.

Adrienne Farrell is a corporate wellness consultant and the founder of the InnovateHerLab, a community for women exploring their career paths. She focuses on women's health and well-being in the workplace, recognizing the need to elevate this issue. 

Adrienne's journey to becoming an escapee started when she experienced layoffs and a toxic work environment. She decided to take a leap of faith and prioritize her own voice and values. 

She is passionate about advocating for women's health and believes that the corporate world needs to change to better support women. 

Adrienne is currently balancing her corporate wellness consulting work with her side project, the InnovateHer Lab. 

The conversation explores the opportunities and challenges of transitioning from corporate life to entrepreneurship. They discuss the benefits of being your authentic self, the rise of fractional work, and the importance of networking and finding a supportive community. They also touch on time management and prioritization as key factors in the success of solo entrepreneurs. The conversation ends with advice for those considering the entrepreneurial journey.

Adrienne’s Links

LinkedIn: https://www.linkedin.com/in/adriennel-farrell/

Website: adriennefarrell.com/ 

Takeaways

• Adrienne's transition from corporate to escapee was motivated by her desire for work-life balance, flexibility, and the ability to advocate for her own values.
• She is passionate about addressing the gap in women's health and well-being in the workplace and believes that organizations have a social responsibility to prioritize this issue.
• Adrienne's experience in setting up wellness programs in corporate roles has informed her current work as a corporate wellness consultant.
• She emphasizes the importance of having a support network and community when navigating the transition from corporate to escapee. Being your authentic self brings the most value and happiness.
• Fractional work offers flexibility and cost-effectiveness for companies.
• Building a supportive network and community is crucial for success.
• Time management and prioritization are key skills for solo entrepreneurs.
• Give yourself grace and embrace the learning process.

Sound Bites

• "There's a real need to elevate women's health within the workplace."
• "Finding your community allows for authentic, transparent conversations without jeopardizing your current career."
• "Having the freedom of voice and advocating for what's important to me is incredibly rewarding and empowering."
• "The opportunity, I guess more than anything"
• "There are opportunities to create the work that you want"
• "The future of work is heading this way"

Keywords

corporate wellness, women's health, career exploration, escapee, toxic work environment, work-life balance, flexibility, support network, entrepreneurship, corporate life, authenticity, fractional work, networking, community, time management, prioritization, advice

Chapters

00:00 Introduction and Overview

00:37 Adrienne's Work: Corporate Wellness and the Innovate Her Lab

05:07 Transitioning from Corporate to Escapee

08:29 Finding Your Voice and Advocating for What's Important

12:45 Addressing the Gap in Women's Health in the Workplace

15:30 Balancing Corporate Wellness Consulting and the Innovate Her Lab

20:00 Approaching Time and Focus as an Escapee

22:10 Transitioning from Corporate Life to Entrepreneurship

23:06 The Opportunity of Fractional Work

25:14 The Future of Work

27:36 The Power of Networking and Community

29:17 Challenges and Rewards of Going Solo

33:32 Time Management and Prioritization

37:23 Advice for Early-stage Entrepreneurs

In this episode, Laine Belcastro shares her journey from corporate marketing to becoming a solopreneur and email marketing consultant. 

Laine discusses the importance of networking, finding your niche, and the challenges of pricing strategies. Laine emphasizes the significance of email marketing for business growth and introduces her new venture, Accountability Arcade, aimed at helping entrepreneurs set and achieve short-term goals. 

The conversation highlights the balance of multiple revenue streams and the mindset shifts necessary for success in the solopreneur world.

Laine’s Links

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

Website: https://lmbdigimarketing.com/ 

Takeaways

• Laine has her own email marketing automation consulting business.
• Networking is crucial for solopreneurs to find opportunities.
• It's important to focus on a niche to avoid burnout.
• Pricing should reflect the value provided, not just time spent.
• Email marketing is a powerful tool for brand recognition.
• Consistency in email outreach is key to staying top of mind.
• Accountability can help entrepreneurs achieve their goals more effectively.
• Starting with a simple nurture program can keep contacts engaged.
• You don't need to have everything figured out to start your business.
• Taking action is more important than waiting for the perfect plan.

Sound Bites

• "I'd rather be homeless than go back to corporate."
• "Networking is key for solopreneurs."
• "You don't need a website to get started."

Chapters

00:00 Introduction and Background

02:02 Accountability Arcade Service

03:43 Leaving Corporate America and Starting a Business

07:57 The Power of Networking

10:01 Finding Your Niche and Specializing

13:19 Pricing Models for Solopreneurs

17:39 Flexible Pricing and Meeting Customer Needs

19:32 Effective Email Marketing Strategies

27:35 Creating an Accountability Group

31:25 Balancing Multiple Revenue Streams

34:16 Taking Action and Diving into Entrepreneurship

Jaidin McCann, owner of Jasper Consultancy, shares her journey of starting her own executive search firm and offering fractional work. She emphasizes the importance of personal branding and networking in the fractional space. McCann advises individuals to specialize in a specific area and build a strong referral network. She also highlights the need for market research and understanding the buyer's market. McCann encourages individuals to take the leap into fractional work and enjoy the journey.

Jaidin McCann Links

• LinkedIn: https://www.linkedin.com/in/jaidinmccann/
• Jasper Consultancy: https://www.jasperconsultancy.com/ 

Takeaways

• Specialize in a specific area and build a strong personal brand to differentiate yourself in the fractional space.
• Networking and building relationships with others in the industry is crucial for success in fractional work.
• Conduct market research to understand the needs and demands of the market and position yourself accordingly.
• Embrace the challenges and enjoy the journey of starting your own business in the fractional space.

Sound Bites

• "It's more work than you think it is, but it's so worth it."
• "The world is so much smaller than we think."
• "You can eliminate the negative people and choose who you want to work with."

Chapters

00:00 Introduction and Background

03:00 Starting a Fractional Business: Personal Branding and Networking

08:03 Building a Strong Referral Network in the Fractional Space

14:05 Understanding the Buyer's Market: Market Research in Fractional Work

21:23 Advice for Individuals Pursuing Fractional Work

29:29 Conclusion and Final Thoughts

This is an audio recording of a recent Happy Hour and Learn Session for members of the Escapee Collective community. Jake Stahl shares his advice, perspective and best practices for thriving as a fractional leader.

Jake Stall discusses the concept of fractional work and shares his experience in the field. He emphasizes the importance of building relationships and networking in order to succeed as a fractional professional. Jake also provides insights on pricing strategies and how to ask for referrals. He promotes the upcoming Frac 2024 conference as a valuable opportunity for learning and networking in the fractional industry.

Guest Links:

Jake Stahl LinkedIn: https://www.linkedin.com/in/jakestahl/ 

Frak2024: https://fractionalconference.com/ 

Takeaways

• Fractional work involves providing a certain amount of time and expertise to a company in return for high-level guidance and leadership.
• Building strong relationships and networking are crucial for success in the fractional industry.
• Pricing strategies should focus on the value provided rather than competing on price.
• Asking for referrals is an effective way to generate new business in the fractional field.
• The Frac 2024 conference is a valuable opportunity for learning and networking in the fractional industry.

Sound Bites

• "Networking is not about attending as many groups as possible, but about being involved in quality groups where you can build meaningful relationships."
• "The more interest you show in someone, the higher your chances of getting a contract with them."
• "The higher your price, the more people perceive value and are willing to pay for your services."

Debbie Schwake and Ashley Evenson discuss their escapee journeys and how they formed a collaborative partnership. They emphasize the importance of collaboration and transparency in their working relationship. They have their own independent businesses but also work together on projects, leveraging each other's strengths. 

They highlight the flexibility and work-life balance that comes with being a solo entrepreneur. They see a growing need for fractional talent in the consulting industry, particularly among small to mid-tier companies. Their target audience is those who need an outside perspective and expertise to help with business issues and growth plans. 

Ashley and Debbie discuss their unique position as consultants with both big brand and industry experience, providing expert-level consulting to small and medium-sized companies at a fraction of the cost. They emphasize the importance of being hands-on and implementing recommendations, rather than just providing advice. They also highlight the value of an outside-in perspective and the need for validation and direction, rather than relying solely on tools. 

Networking is a key strategy for both of them, focusing on building relationships and offering support without asking for business. They stress the importance of belief in oneself and the power of humanizing your brand through video and personal connections.

Guest Links

Debbie Schwake: https://www.linkedin.com/in/dschwake/ 

Ashely Evenson: https://www.linkedin.com/in/ashleyevenson/

Website: https://andcoalition.com/ 

Takeaways

• Collaboration and transparency are key in forming successful partnerships.
• Having independent businesses allows for flexibility and work-life balance.
• There is a growing need for fractional talent in the consulting industry.
• Small to mid-tier companies can benefit from outside expertise and an outside-in perspective.
• Working together on projects allows for leveraging each other's strengths. Consultants with big brand and industry experience can provide expert-level consulting to small and medium-sized companies at a fraction of the cost.
• Being hands-on and implementing recommendations is crucial for success in consulting.
• Small and medium-sized companies often need an outside-in perspective and validation, rather than relying solely on tools.
• Networking is a valuable strategy for consultants, focusing on building relationships and offering support without asking for business.
• Belief in oneself is essential when starting a business, and humanizing your brand through video and personal connections can be powerful.

Titles

• Targeting Small to Mid-Tier Companies
• The Power of Collaboration and Transparency The Importance of an Outside-In Perspective
• Belief in Oneself and Humanizing Your Brand

Sound Bites

• "There's so much opportunity in the more the synergy you put together and the shared values."
• "You can't get into a partnership like this without that commitment to one another to make sure everything's always above the board."
• "Part of this is about life flexibility. Part of this is about getting that balance back in your life."
• "We come from very big consultant brands, but also industry experience."
• "We will go there, advise, have that outside view, but we will go ahead and go into your CRM."
• "Don't limit yourself to Fractional. If you find a business with a problem that you can solve, there's different ways you can do it."

Keywords

escapee journey, collaboration, transparency, independent businesses, partnership, flexibility, work-life balance, fractional talent, consulting industry, small to mid-tier companies, outside perspective, expertise, business issues, growth plans, consulting, small business, networking, outside-in perspective, validation, direction, belief, humanizing brand

Kate Kompelien, founder of The Insight, shares her journey as a customer experience consultant and qualitative researcher. She helps companies understand key moments that matter to their customers and identifies pain points that hinder a better customer experience. Kate started her own business after realizing she wanted to focus on smaller projects and provide a more personalized experience for her clients. She emphasizes the importance of networking and building relationships, both with people she knows and with new connections. Kate also highlights the value of face-to-face meetings and taking a genuine interest in others' businesses and lives. Kate Kompelien shares her journey of starting her own customer experience consulting business. She discusses her core offerings, the industries she works with, and the size of companies she targets. Kate also talks about her three-pronged approach to acquiring clients: direct, subcontracting, and referrals. She emphasizes the importance of diversifying revenue streams and being open to different opportunities. Kate encourages listeners to believe in themselves, take risks, and have fun in their entrepreneurial journey.

Kate’s Links

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

Website: https://www.theinsightshopllc.com/

Takeaways

• Focus on your sweet spots and provide a personalized experience for your clients.
• Networking and building relationships are crucial for finding new opportunities.
• Take a genuine interest in others' businesses and lives during networking meetings.
• Face-to-face meetings can be valuable for establishing connections and building trust. Identify your core offerings and consider peripheral offerings to round out your total offering.
• Industry is less important in customer experience and qualitative research work.
• Target companies with a billion dollars or less in revenue, as they often lack a full customer experience team.
• Diversify your revenue streams by working directly with clients, subcontracting, and forming referral partnerships.
• Believe in yourself, take risks, and have fun in your entrepreneurial journey.

Titles

• Finding Success as a Customer Experience Consultant
• The Importance of Face-to-Face Meetings in Networking Believing in Yourself and Taking Risks
• Diversifying Revenue Streams in Consulting

Sound Bites

• "I'm really trying to help companies understand those key moments that matter to their customers and what are those pain points that are getting in the way that they need to solve to provide a better experience, higher customer retention."
• "It's been a combination of getting customers on my own, working with some research companies for fill-in work, and then having some partners where I can be their customer experience resource on projects."
• "Most people are happy to have conversations and hear what you're up to. And I love to hear what other people are doing because you kind of shared some space. Maybe they're doing something you can help with."
• "I really wanted to focus in on those two spaces as my core and looking for work around the core."
• "I'm working in very different industries. I like to call them the manly industries of the trades."
• "My focus is a billion dollars or less, because generally those industries and those companies don't have a full customer experience team."

Chapters

00:00 Introduction and Overview of Kate's Work

06:27 Building Relationships and Networking

10:24 The Importance of Following Up

12:52 Sales and Running Your Own Business

14:47 Finding Opportunities in a Competitive Market

17:48 Focusing on Your Sweet Spots

21:38 Building a Consulting Business: Finding Your Niche

22:39 Targeting Industries and Company Size

24:33 The Three-Pronged Approach to Acquiring Clients