The Road to Seven

Work hard and love what you do and the money will come. On today’s episode of The Road to Seven podcast I’m speaking with Jody Steinhauer, the president and CBO—Chief Bargains Officer—of The Bargains Group. Jody has mobilized her award-winning discount wholesale and promotional products company to revolutionize the business landscape. Jody uses her network of resources and leveraged buying power to aid every company and not-for-profit agency that she touches to maximize their buying dollar.

Takeaways from this episode

• Giving back makes great business sense. It’s important and people will do business with you because of it
• Find incredible mentors and ask for help
• Filter every decision through the questions, “Is it right? and “Is there any kind of downside to my personal brand or reputation or my company’s reputation?” The deal has to pass the test
• Communication and getting back to people is key when you’re just getting started
• Be conscious of growth strategies—you can do a lot without spending money
• If you want to get anywhere keep every cent in your business. Pay yourself what you need to actually live and write off everything you can
• Don’t focus on the dollar figure; focus on what you are accomplishing. Are you making an impact? Are you making a difference?

Partnerships in business are tricky and don’t always result in success. On today’s episode of The Road to Seven podcast I’m speaking with Julie Cole, a recovered lawyer, mom of six and co-founder of Mable’s Labels. She has helped bring the company to a worldwide market, gain media recognition and win countless entrepreneur awards. Today Julie and I talk about growing a business—which ended up being sold for millions of dollars—and how she built it in a partnership.

Takeaways from this episode

• No matter what the vision is, take it seriously and take the proper steps to get that foundation in place
• You will never work harder in your life—a start-up is hustle all the time
• If you’re thinking about starting a business with someone put a shareholder agreement together while you’re all still friends
• Before you start make sure that all the humans in your life know what it will actually look like so your support system is strong
• Keep revisiting your business plan and make sure you’re on track
• Don’t be afraid to ask for help; don’t let your ego ruin things
• Know your exit plan—are you growing it to sell your business or are you growing it to leave it as a legacy?