Through the Storm

In this conversation, Kurtis Hanni and Doug Diakite discuss the intricacies of the rent-to-own real estate business, focusing on acquisition strategies, market changes, and the challenges faced during downturns. Doug shares insights on team management, compensation structures, and the importance of adaptability in business. They explore the significance of strategic partnerships and the lessons learned from relying too heavily on a single acquisition channel. The discussion emphasizes the need for resilience and the ability to pivot in response to changing market conditions.

In this conversation, Kurtis Hanni interviews Jared Doerfler, the founder of Hanna Golf, about his journey from a golf enthusiast to a successful entrepreneur in the golf industry. Jared shares the inspiration behind starting his putter company, the challenges of manufacturing, and the importance of community engagement. He discusses the financial realities of launching a business, the decision to quit his job, and the growth strategies he has implemented. The conversation highlights the emotional rollercoaster of entrepreneurship and the lessons learned along the way.

00:00 Snippet Intro Episode

3 00:25 Insert Kurtis Intro

00:25 The Genesis of a Golf Business

02:33 From Idea to Prototype

05:34 The Manufacturing Journey

08:25 The Decision to Quit and Commit

10:28 Initial Investments and Challenges

13:08 Launching HANA Golf

15:32 Scaling the Business

17:39 The Role of Team and Growth

20:56 Navigating Stress and Entrepreneurship

24:45 Navigating Financial Risks in Business Growth

29:34 Sales Strategies and Market Approach

34:27 Surprises and Lessons Learned in Entrepreneurship 43:28 Future Plans and Growth Strategies

In this conversation, Kurtis Hanni and Harrison Bonner delve into the challenges and lessons learned in the real estate business. Harrison shares his journey from initial success in real estate investing to facing significant challenges due to mismanagement and changing market conditions. They discuss the importance of financial literacy, the impact of personal stress, and the need for resilience in entrepreneurship. The conversation highlights the pivoting strategies Harrison is implementing to stabilize his business and the lessons he has learned for future success.

Harrison Bonner is a seasoned real estate entrepreneur known for his resilience and strategic thinking in the face of adversity. With over a decade of experience, Harrison has navigated the complexities of property development and investment, learning invaluable lessons from both successes and setbacks. His journey from door-to-door sales in Boston to managing multifamily portfolios highlights his commitment to growth and innovation. Harrison's story is a testament to the power of perseverance and financial literacy in transforming challenges into opportunities.

03:17 Harrison Bonner's Real Estate Journey

06:18 The Value-Add Strategy and Initial Success

09:07 Challenges and Mismanagement in Growth

12:16 Market Conditions and Financial Realities

15:17 Pivoting Strategies and Fund Structure

18:12 Recognizing the First Signs of Trouble

20:58 Transitioning to Cash Flow Management

23:46 Exploring Solutions and Options for Recovery

29:08 Transforming Team Dynamics for Success

30:42 The Importance of Financial Literacy

35:18 Navigating Personal and Family Stress

38:42 The Reality of Entrepreneurship

39:33 Transitioning and Learning from Mistakes

44:08 Building Sustainable Revenue Streams

49:33 Lessons Learned for Future Success

In this conversation, Nick Anderson, CEO of One Accord, shares his journey in transforming the consulting firm, focusing on improving gross margins and redefining the business model. He discusses the challenges faced in the transition, the importance of data, and how technology plays a role in enhancing service delivery. Nick emphasizes the need for margin discipline and the value of involving the team in decision-making processes. The discussion also highlights real-world examples of how the new model adds value to clients and the overall impact on business operations and marketing strategies.

Nick Anderson is the CEO and 50% owner of One Accord, a consulting firm specializing in strategic consulting and exit planning for small to medium businesses. With a background in banking spanning 25 years, Nick transitioned into consulting, eventually merging his independent consulting business with One Accord. Under his leadership, the firm has undergone significant transformation, focusing on enhancing gross margins and delivering exceptional value to clients. Nick is known for his strategic vision, commitment to data-driven decision-making, and innovative approach to business challenges. His leadership style emphasizes transparency, team involvement, and a relentless pursuit of excellence.

Chapters

• 00:00 Introduction to One Accord and Nick's Background
• 05:12 Transitioning into Ownership and Initial Challenges
• 08:16 Understanding Gross Margin and Business Model Changes
• 11:11 The Importance of Gross Margin in Consulting
• 14:12 Navigating Change Management and Consultant Relationships
• 16:55 Value Addition and New Engagement Models
• 20:07 Ensuring Client Satisfaction and Consultant Accountability
• 29:29 The Team Structure and Client Engagement
• 32:52 Continuity and Risk Management in Consulting
• 35:57 The Importance of Gross Margin in Business
• 38:34 Pricing Models and Managing Risk
• 43:13 Simplicity in Business Transactions
• 44:21 Collaboration with Investment Bankers
• 47:12 Leveraging Technology for Value Creation
• 49:33 Transforming Business Through Improved Margins
• 52:53 Practical Advice for Margin Transformation

Most business owners overlook the one critical leverage point that can turn a struggling company into a profitable powerhouse, but not Nick Anderson. In this exclusive sneak peek, he reveals how he completely restructured his business model to boost gross margins from 20% to a level that finally works, for both clients and consultants. This isn’t theory; it’s real-world, behind-the-scenes strategy from a CEO who faced a near-collapse and came out stronger on the other side. You’ll discover why simply raising prices isn’t enough, and how to deliver more value that justifies higher margins. Plus, get a glimpse into the tough negotiations and bold decisions that transformed Nick’s business, including how he navigated losing some consultants and scaling his value proposition.

Don’t miss out on the proven tactics that help companies thrive even under pressure.Join us next week for the full episode, where Nick dives deeper into the nuts and bolts of his transformation. Subscribe now on Apple Podcasts, Spotify, or YouTube, and start turning stormy challenges into your greatest opportunities.

Our new podcast, 'Through the Storm,' focuses on the real struggles business owners face.

Often we just hear the highlight reels, but it's important

we share the honest conversations about financial pressures and the lessons learned from adversity too.

The podcast aims to create a supportive community for business owners, sharing stories of challenges and triumphs to help others navigate their own journeys.

Stay up to date at smbfinanceos.com.

Our new podcast, 'Through the Storm,' focuses on the real struggles business owners face.

Often we just hear the highlight reels, but it's important

we share the honest conversations about financial pressures and the lessons learned from adversity too.

The podcast aims to create a supportive community for business owners, sharing stories of challenges and triumphs to help others navigate their own journeys.

Stay up to date at smbfinanceos.com.

In this reintroduction of the podcast, Kurtis Hanni outlines the new direction of 'Through the Storm,' focusing on the real struggles business owners face.

He emphasizes the importance of honest conversations about financial pressures and the lessons learned from adversity.

The podcast aims to create a supportive community for business owners, sharing stories of challenges and triumphs to help others navigate their own journeys.

Learn more at smbfinanceos.com.

For the month of December I'm taking a break from the podcast. When we start in January, I'll be changing the format and going back to WEEKLY episodes.

See y'all in January!

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Have you ever seen people living just a little differently and wondered how they built that life for themselves?

In today's interview, I talk to Brian Luebben, who has done just that.

Brian runs a few different businesses but intentionally runs them in a way that creates more freedom for him.

In this episode, we talk about his story, the 3 types of freedom, and why you should prioritize passionate income over passive income.

Check out Brian's Podcast: Action Academy Podcast

Follow him on social:

• Twitter: @theactionpod
• IG: @brianluebben
• Tiktok: @brianluebben

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I talk a lot about the numbers of business, but what are the hidden costs?

Today I break down opportunity cost and sunk cost and how to make decision-making models that account for these and help you avoid the biases that are all too common.

To learn more about these biases, check out my newsletter editions on them:

How to avoid sunk cost fallacy and save your business money

Football, Food, & Opportunity Cost

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