Amplify Your Business

The Challenges of Entrepreneurship and Transitioning Out of Business

In this episode of Amplify Your Business, we're joined by Erika Anderson from the picturesque landscapes of Spain. Erika shares her profound insights on entrepreneurship, the critical importance of vision, and the intricate journey of transitioning from full-time leadership to a semi-retired role. This conversation unveils the essence of entrepreneurial resilience, strategic decision-making, and personal growth.
 
Erika Anderson is a seasoned entrepreneur and the founding partner of Proteus International, a company specializing in leadership development, executive coaching, and organizational transformation. With a career spanning over three decades, Erika has established herself as an authority on helping individuals and organizations clarify and move toward their aspired futures. She has authored a number of books focused on leadership and change management and currently splits her time between New York and Spain.
 
To learn more about Proteus International, visit https://proteus-international.com/ 
 
00:00 Intro
00:57 The importance of having a clear vision for your business
02:23 Being a fair witness and maintaining objectivity as an entrepreneur
03:57 The significance of having enough capital for your business
05:10 Challenges of scaling a business and managing capital
08:57 Gathering data and testing market demand before developing a product
12:26 Summary of the book "Be Bad First.”
13:37 The three practice areas of Proteus
19:27 Erika's transition to semi-retirement and operating Proteus from Spain
22:10 Advice for transitioning and trusting partners
24:44 Importance of clear roles and regular check-ins
29:48 Identifying what you love about your work.
31:53 Erika’s biggest challenge
39:36 How to connect with Erika Anderson
40:01 Find Erika's books on Amazon
40:35 Outro

Navigating the Entrepreneurial Journey: Insights on Building Real Businesses and Raising Capital

In this episode of Amplify Your Business, Lance engages with the CEO of Capital Raise, Carl Grant III, diving into Carl's rich entrepreneurial journey and discussing the intricacies of raising capital for businesses. Carl's vast experience presents a treasure trove of insights that are critical for entrepreneurs navigating the complex world of investments and growth.
 
In this interview, Carl opens up about the evolution of his career from his initial foray as an entrepreneur with his father to his eventual return to entrepreneurship after years in the corporate sphere. The discussion sheds light on the essence of capital investment and the strategies that can make or break the success of a startup. By delineating between the perils of being overly reliant on investment capital and the strength of revenue-focused businesses, Carl provides a nuanced look into the world of venture capital and private equity.
 
To learn more about Capital Raise, visit https://capitalraise.net.
 
00:00 Introduction
01:08 Three important things every entrepreneur needs to know
03:00 Background and experience in raising capital
07:43 Overview of Capital Raise and its services
11:57 Early experiences in the video streaming industry
12:32 The market crash in 2000 led to the downfall of a startup
13:18 The impact of 9/11 on a financial services company
14:17 Transitioning from corporate to entrepreneurship
19:26 Working with family in business and the importance of trust
21:41 The significance of revenue and profitability in business success
25:31 Uber's dominance in the market and strategy for success
26:13 TikTok's shift towards driving commerce and monetization
26:51 The importance of generating revenue and being profitable as a startup
27:26 The entrepreneurial strategy of selling to the government
28:28 Overview of the book "How to Live the Abundant Life"
29:27 Focusing on giving and helping others for personal and financial benefit
31:30 Achieving seemingly impossible goals through bite-sized tasks
34:06 Where to find Carl’s book "How to Live the Abundant Life"
35:50 Outro

How to Scale and Grow Your Business: Lessons from a Hypergrowth Expert

In episode 268, Lance meets with Seth Temko, the founder of Full On Strategy, a go-to-market consultancy that helps companies achieve hypergrowth. With a background in entrepreneurship and startups, Seth has a wealth of experience in the technology sector. He has lived through the boom and bust of the dot-com era and has a deep understanding of the challenges and opportunities that come with starting and scaling a business.
In this interview, Seth shares his top three tips for entrepreneurs, including that he believes that starting your own business is both the hardest and easiest thing you can do. While it comes with financial strain and stress, it also gives you control over your own destiny. Seth emphasizes the importance of patience, as everything takes longer than expected. He advises entrepreneurs to focus on the things they enjoy and are passionate about, and to outsource or delegate tasks that drain their energy. Seth also discusses his go-to-market strategy for Full On Strategy, which includes building partnerships and creating a community of restaurant tech executives and founders.
 
To learn more about Full On Strategy, visit: https://fullonstrategy.com/ 
 
00:00 - Introduction
01:15 - Three things every entrepreneur should know
07:08 - Go-to-market strategy
09:24 - Helping companies achieve hypergrowth
10:33 - Applying the principles of his consultancy to his own business
12:47 - Defining the consultancy and choosing a niche market
13:19 - Focusing on hospitality technology and generating value quickly
13:54 - Massive potential market size in the restaurant industry.
16:22 - Partnerships with Branded Strategic and other consultants.
17:27 - Focus on selling, defining partnerships, and driving pipeline for growth.
20:58 - Creating a restaurant technology-focused event to connect industry players.
22:04 - Building community and peer support is key for long-term success.
24:07 - Communities can be monetized and lead to strong relationships.
28:32 - Naive thinking can propel young entrepreneurs forward.
29:45 - Lesson from the dot-com bubble: value delivery is key.
33:07 - Importance of good product and customers willing to pay.
36:26 - Outro

How Good Debt Can Help You Transform Your Business

In episode 267, Lance sits down with Alex Mic Podar, the co-founder and CEO of Backyard Bookkeeper, a bookkeeping company that focuses solely on bookkeeping services. With over 15 years of experience in the industry, Alex has built a successful business that is dedicated to providing high-quality bookkeeping solutions to clients. Alex is passionate about helping other entrepreneurs succeed and is constantly looking for ways to scale her businesses and create job opportunities.
 
In this interview, Alex Mick Podar shares her insights on entrepreneurship and the importance of financial literacy. She emphasizes the need for entrepreneurs to have a good relationship with their finances and to understand the concept of good debt. Alex also advises entrepreneurs to be cautious when doing business with friends or family and to learn how to surround themselves with the right people. She discusses her plans to scale her bookkeeping company and the challenges she anticipates in acquiring other businesses. Alex also addresses the impact of AI on the bookkeeping industry and the importance of staying ahead of the technology. She emphasizes the value of systems and replicable processes in scaling a business and shares her personal journey as an entrepreneur.
 
To learn more, visit Backyard Bookkeeper at https://backyardbookkeeper.com/ 
 
0:00:00 - Intro
0:00:22 - Three things every entrepreneur needs to know
0:02:26 - The importance of good debt in business growth
0:04:41 - Scaling a business through acquiring other businesses
0:06:03 - Backyard Bookkeeper's unique focus on bookkeeping services
0:08:32 - Plans to grow the team by acquiring other bookkeeping businesses
0:09:21 - Educating oneself and thinking outside the box for mergers and acquisitions
0:11:42 - Targeting retiring baby boomers to acquire their businesses
0:12:47 - The impact of AI on the bookkeeping industry and managing the risk
0:13:40 - The role of a good bookkeeper beyond data entry in the AI era
0:14:15 - Automation of data entry and the role of AI in accounting
0:15:21 - Working closely with AI developers to improve accounting AI
0:16:26 - AI empowering individuals to take on multiple jobs
0:17:37 - Alex's entrepreneurial journey and origins in Romania
0:20:58 - Importance of systems and hiring the right people
0:23:38 - The necessity of replicable systems for scaling a business
0:25:43 - Information about Amplify Your Business and upcoming symposium
 

Solving the Space Problem: How Spotz is Revolutionizing the Rental Industry

In episode 266, Lance sits down with James Jackson, the founder and president of Spotz, a company that aims to be the "Airbnb for non-overnight community spaces." With a background in business and a passion for entrepreneurship, James has built a career around solving problems and finding innovative solutions. He brings a wealth of experience and a strong work ethic to his role at Spotz.
 
In this interview, James Jackson, founder and president of Spotz, shares his entrepreneurial journey and the challenges he faced along the way. He emphasizes the importance of knowing yourself and your weaknesses, being prepared for the difficulties of entrepreneurship, and leaning on your network for support. Spotz is a platform that connects people with unique and rentable community spaces, solving the problems of awareness, accessibility, and tools for hosts. James discusses the strategic approach to building both the supply and demand sides of the market, as well as the importance of efficient funding and strategic outsourcing. He encourages entrepreneurs to have perspective, trust in themselves, and be open-minded to opportunities.
 
To learn more about Spotz, visit the website at https://www.findspotz.com/.
 
0:00:00 - Intro
0:01:11- Three things every entrepreneur needs to understand
0:02:58 - Building a strong network as an entrepreneur
0:06:34 - Overview of Spotz and the problem it solves
0:08:40 - The need for a centralized platform for renting non-overnight spaces
0:09:55 - Challenges in finding and renting different kinds of venues
0:10:23 - Potential benefits for organizations with empty spaces
0:11:50 - Building both sides of the market simultaneously
0:11:58 - Challenges of building a platform without an audience yet
0:13:18 - Strategic approach to building a community of hosts
0:14:21 - Metrics for monetizing spaces and marketing to end users
0:16:02 - Encouraging gatherings and creating community post-pandemic
0:17:22 - Funding challenges and efficient spending
0:21:38 - Learning from difficult situations and outsourcing certain roles
0:26:36 - James Jackson's entrepreneurial journey started at 15 with 47 different jobs.
0:30:48 - Advice on sustaining determination and overcoming challenges.
0:35:41 - Reflecting on personal growth and self-improvement
0:37:47 - Invitation to Entrepreneur symposium for business growth
0:37:47 - Outro

The Secrets to Scaling a Business Without Going into Debt

In episode 265, Lance sits down with Ashley McCarney, the founder and president of Involvi, an HR consulting firm. With a background in people operations, Ashley is passionate about improving employment relationships and helping leaders become better people leaders. 
In this interview, Ashley shares her insights on what every entrepreneur needs to know, including the importance of valuing your time, being flexible and innovative, and understanding “your why” as an entrepreneur. She also discusses the services offered by Involvi, which include HR support, customized learning and development, and recruitment. Ashley emphasizes the importance of trust in her industry and how Involvi differentiates itself by providing customized solutions and working with clients to navigate the gray areas of compliance and legislation. She also shares her experience of scaling the business and the key factors that contributed to its success, including a strong team, intentional networking, and a focus on building trust with clients.
To learn more about Involvi, visit https://involvi.ca/. 
0:00:00 - Intro 
0:00:47 - Three things every entrepreneur needs to know
0:02:36 - Overview of Involvi and the problems it solves
0:03:56 - How Involvi stands out from other HR companies
0:06:35 - Ashley's motivation to start her own business
0:07:47 - Challenges and support during the early stages of the business
0:09:54 - Factors contributing to the success of Involvi
0:11:09 - Importance of networking and building relationships
0:12:49 - Focus on providing value and solutions to clients
0:14:44 - Advice for building a great team
0:16:01 - Importance of transparency and flat hierarchy within the team
0:17:45 - Challenges of maintaining open communication as the business grows
0:20:11 - Imparting vision and values through personal interactions
0:21:19 - Involving the team in creating the company's vision and values
0:22:26 - Intentionally separating the business from personal brand for scalability
0:24:02 - Considering options for future growth as an entrepreneur
0:25:09 - Transitioning from being the practitioner to scaling the business
0:29:37 - Building a business without going into debt
0:30:02 - Self-funding and wise spending to avoid unnecessary costs
0:32:28 - Advice for her younger entrepreneurial self
0:34:41 - Outro

Leadership in the Age of Digital Transformation

In episode 264 of AYB’s Entrepreneur Podcast, Lance chats with Tino Mantella, the CEO of Turknett Leadership Group. With extensive experience in leadership and having previously served as the CEO of the Technology Association of Georgia, Tino is passionate about helping entrepreneurs and businesses develop effective leadership strategies. 
 
In this interview, Tino shares his insights on effective leadership and offers advice for entrepreneurs. He emphasizes the importance of having a clear purpose and conducting thorough research before starting a business. Tino also highlights the need for entrepreneurs to understand their own skill sets and surround themselves with the right team. He stresses the importance of setting big goals and implementing measurable steps to achieve them. Tino also discusses the challenges of managing different generations in the workplace and the impact of remote work on company culture. He emphasizes the need for leaders to be adaptable and understand the motivations of their team members.
 
To learn more about Turknett, visit http://www.turknett.com 
 
00:00 - Intro
05:01 - Discussion on "quiet quitters" and job market trends
08:05 - Leadership skills for different generations and remote work challenges
10:20 - Coaching for personal change and common challenges faced by leaders
13:39 - Understanding oneself and others is key to personal growth.
16:47 - Leading the transition back to the office requires clear communication.
19:58 - The future of work may involve a four-day workweek.
23:59 - Transitioning leadership can be smoother with open communication and mentoring.
26:34 - Understanding what is important to founders when working with them
29:21 - Advice for founders transitioning to the next growth stage
31:14 - Balancing the roles of the founder and CEO
31:58 - Questions founders should ask when hiring a CEO
32:40 - Letting go of control and empowering the CEO
36:02 - Different dynamics between boards and founders
36:28 - Importance of the CEO having an ownership stake in the company
39:44 - Importance of founders planning for the future of their company
40:15 - Owning a company until old age can be beneficial
40:55 - Advice to younger self: be patient and listen
42:48 - Outro

The Importance of Ethics in Hiring

In Episode 263 of the Amplify Your Business Entrepreneur Podcast, Russ Law, CEO and co-founder of Verensics, shares his entrepreneurial journey and the importance of perseverance in starting a business. He discusses the roller-coaster nature of entrepreneurship and managing self-doubt. Russ also explains how Verensics addresses ethical evaluations of potential employees using their online smart questionnaire platform. He highlights the limitations of traditional background checks and the value of informed interviews and touches on challenges in partnerships and addressing team behavior.
 
To learn more visit https://www.verensics.com/ 
 
00:20 Introduction to Russ Law, CEO and co-founder of Verensics
01:12 What are the three things every entrepreneur needs to know when starting out?
04:13 Dealing with self-doubt as an entrepreneur
10:15 What problem does Verensics address?
11:11 The impact of hiring on organizational culture
12:39 How Verensics’ software helps improve the interview process
27:42 What advice would Russ give to his younger self?
28:46 Taking the leap into entrepreneurship is tough
30:05 What helps Russ persevere?
30:31 Pursuing passion makes a big difference in motivation