The entrepreneurial landscape is full of challenges for founders and CEOs, particularly those with the intention of scaling a small business. In this week’s episode, Callum Laing explains why entrepreneurs benefit from actively seeking discomfort, having an exit strategy, and accepting that painful moments are part of the journey! 

About Callum Laing:

Callum Laing is the co-founder and CEO of MBH Corporation PLC, a publicly listed holding company that allows small business owners to swap their private stock for public stock without losing control of their business. He has been an entrepreneur for more than 20 years, has started and built businesses in multiple countries and industries, and is the author of 3 best-selling books!

Episode highlights:

• The scale paradox refers to the struggle that many small businesses face when trying to grow because big businesses prefer giving contracts to other big businesses. This is part of what motivated Callum to found MBH Corporation PLC, a publicly listed holding company wherein small business owners can swap private stock for public stock while retaining control of their business. (03:45)
• Come up with an exit plan for your business as soon as possible. Having a long-term goal will keep you focused and will make your business more attractive to investors. (11:40)
• Growing a business from a lifestyle business to a performance business is a challenging (potentially painful) transition because of culture clashes, business model adjustments, and systems upgrades. There’s no way to avoid it, just accept that it will happen so it doesn’t come as a shock! (21:06)
• You will likely make many mistakes along your journey as an entrepreneur. Keep in mind that often when your biggest fears come true, they aren’t nearly as bad as you imagined they would be. (24:00)
• Where you are right now on your entrepreneurial journey is not the end, it’s a stepping stone. So seek discomfort at every stage because this is where the biggest learning happens. (25:38)

Callum’s best advice for entrepreneurs:

“All businesses should be thinking about the end game.” (13:35) When you have a clear direction, everything along the journey becomes a lot more manageable. 

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