UNFOCUSED Show

UNFOCUSED Show

By @paulttranBusiness
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UNFOCUSED Show episodes

  • Raising capital NO-NO for entrepreneurs & investors

    Check out the longer-form version of this - called
    "Startup founders - STOP PITCHING IPOs, going public & acquisition exit strategies"
    Subscribe 🔔🔔🔔 for more goodies!
    http://unfocused.video
    Additional content:
    Newsletter: http://effaround.substack.com
    Podcast: http://www.unfocused.show
    Twitter: http://www.twitter.com/paulttran
    Instagram: http://www.instagram.com/paulttran/

    1 min
  • Charlie Munger quotes x ignorance to success in entrepreneurship

    Was on an X / Twitter Spaces with Chick-fil-a franchisee, leadership podcaster Tim Sweetman, and some topics we covered were:


    • Honoring Charlie Munger and favorite quotes

    • Leadership

    • Wrong advice about franchising and restaurants

    • How to help a struggling franchise


    Please follow me on X: https://twitter.com/paulttran

    And follow Tim, too: https://twitter.com/timsweetman

    37 min
  • The right approach for business owners in any economic climate (especially in downturns)

    History repeats itself.
    Or, at the very least - it rhymes.
    In 2008, the economy took a dump.
    💩🚽🧻🪠
    ON ONE HAND, franchise owners who operated from 3S:
    • Status quo
    • Sunk costs
    • Success complacency
    ....didn't know how to navigate this climate, and suffered from:
    ❌ Store closures
    ❌ Shrinking profits
    ❌ Dying slow from irrelevancy
    ON THE OTHER HAND, I sold and enabled over 100 new franchises that year.
    This "dump moment" propelled one of my brands to go IPO, another to go international, and another to get acquired.
    ~~~~~~~~~~~~~~~~~~~~
    So how did this happen? 🤷‍♀️🤷‍♂️
    Many executives were laid-off from financial institutions, and had severance packages.
    • They wanted to control their destiny.
    • Have always wanted to start a business (and this was the catalyst).
    • And their background in corporate structure made them ideal franchisees.
    Experienced franchisees who’ve weathered downturns before - and had capital to deploy - built cheaper stores through:
    • Negotiating with vendors for better prices
    • Negotiating with landlords for better terms
    • Conversion opportunities
    (conversions = taking over restaurants that went out of business, which saves money on existing infrastructure, permits, and equipment; and opening for a fraction of the cost and time)
    Professionals and college graduates who couldn’t get a job, raised money from friends and family, and got into business when they otherwise couldn't or wouldn’t have.
    ~~~~~~~~~~~~~~~~~~~~
    The economy took a dump AGAIN in 2020, and with the addition of technology (like third-party delivery and AI), and VAs, the same opportunities presented themselves AGAIN.
    ~~~~~~~~~~~~~~~~~~~~
    I believe 2 things:
    1⃣ You can get rich during the bull market (which you don't get credit for)...but you get wealthy during the bear market.
    2⃣ Opportunities to sell and help people don’t disappear when the climate changes.
    They’re like water:
    🌊 If they hit a dead-end, they’ll redirect.
    🌊 If they dry up, they'll become vapor and move elsewhere.
    Having this mentality helps you prepare for, and change the perspective of "Oh shit, what do I do now?!" to:
    "Where are the opportunities in this?"

    1 min
  • Entrepreneurs - STOP spending on advertising (and do this, instead)

    Before SMBs spend another dollar on advertising (aka torching their cash)...
    Spend it on collaborations, instead.
    In this clip, I share why collabs kills 10 birds with 1 stone (sorry for the violence)
    Was invited to speak at a fireside chat (along with legends
    @andythenguyen Viet Nguyen of Kei Concepts).
    Special thanks to Viet Nguyen, Ivy Ha, and the Kei Concepts Media Team. You guys run the most amazing events!
    https://www.instagram.com/keiconceptsmedia/

    This is an excerpt from my regular newsletter Eff Around & Find Out.

    Please subscribe. It's free and loaded with lots of great insights on personal development, entrepreneurship, and my adventure in NFTs.

    http://effaround.substack.com

    And follow me!

    Podcast: https://unfocused.show

    YouTube: http://unfocused.video

    Twitter: http://www.twitter.com/paulttran

    Instagram: http://www.instagram.com/paulttran

    2 min
  • "We want to be the best" is a set up for failure in franchising and branding

    I was invited to speak on a panel with restaurant leaders I look up to, and this question came up.
    Even though there are 100s of things I look for, these must happen first, or the conversation can't continue.
    Special thanks to Viet Nguyen, Ivy Ha, and the Kei Concepts Media Team. You guys run the most amazing events!
    https://www.instagram.com/keiconceptsmedia/

    This is an excerpt from my regular newsletter Eff Around & Find Out.

    Please subscribe. It's free and loaded with lots of great insights on personal development, entrepreneurship, and my adventure in NFTs.

    http://effaround.substack.com

    And follow me!

    Podcast: https://unfocused.show

    YouTube: http://unfocused.video

    Twitter: http://www.twitter.com/paulttran

    Instagram: http://www.instagram.com/paulttran

    3 min
  • What's needed for a restaurant to franchise?

    I was invited to speak on a panel with restaurant leaders I look up to, and this question came up.
    Even though there are 100s of things I look for, these must happen first, or the conversation can't continue.
    Special thanks to Viet Nguyen, Ivy Ha, and the Kei Concepts Media Team. You guys run the most amazing events!
    https://www.instagram.com/keiconceptsmedia/


    This is an excerpt from my regular newsletter Eff Around & Find Out.

    Please subscribe. It's free and loaded with lots of great insights on personal development, entrepreneurship, and my adventure in NFTs.

    http://effaround.substack.com

    And follow me!

    Podcast: https://unfocused.show

    YouTube: http://unfocused.video

    Twitter: http://www.twitter.com/paulttran

    Instagram: http://www.instagram.com/paulttran

    3 min
  • Secret to great ideas

    Hint: You’ve gotta look through a dumpster


    Subscribe 🔔🔔🔔 for more goodies!

    http://unfocused.video

    Additional content:

    Newsletter: http://effaround.substack.com

    Podcast: http://www.unfocused.show

    Twitter: http://www.twitter.com/paulttran

    Instagram: http://www.instagram.com/paulttran/


    1 min

About UNFOCUSED Show

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Focus is overrated - I’m curious about lots of things || God, NFTs, investing, entrepreneurship, bettering myself, franchising, sales, memes, and microfinance.