Insight Out : Big Ideas for the Modern Entrepreneur

What keeps a digital business moving and thriving, and what makes it truly valuable?  Blake Hutchison, CEO of Flippa, is joining me on this episode of Insight Out to break down his role at Flippa, his experience over the last 20 years, and the variables that influence the value of businesses in the market. He touches on the importance of looking at growth, average order value, refund rate, cost base, etc., when evaluating how much to buy and sell a business for and some patterns that have emerged over the last few years.  The team he leads at Flippa supports business owners in their exit or their introduction to possible new business ventures. In short, he helps them make an existing business their own and then, a little further down the road, understand how to optimize the organization financially and systemically!  In this episode, we discuss: How Flippa works in terms of buying and selling (2:43) Blake’s entrepreneurial journey and selling his business in 2015 (5:15) How data allows Flippa to check the pulse of successful businesses across the globe (9:06)  Flippa’s evolution with value assessment (14:46) Common themes that Blake has noticed in this market (19:53) How to get involved with the platform (23:36) Blake shares some inspiring success stories (28:55) The most lucrative businesses for entrepreneurs today (32:24) How to know the ways a business needs to expand & grow (37:12) The future of digitally-based businesses (39:25) Notable Quotes: “So what I encourage everyone to do is find a business model that they can imagine themselves having a skill set that they orient well too. And then secondly, find a category that they know they’re gonna be passionate about for long enough that they’ve got the resilience to get through that stabilization period…” – Blake (26:07) “It’s better to go slow. It’s a marathon. It’s not a sprint. If you treat it as a sprint, chances are you’re going to make some bad decisions.” – Billy (28:40) “Age is a factor in evaluation, by the way, because it gives you some predictability. And buyers and investors love predictability.” – Blake (30:40) “You don’t actually have to know tech to buy a digital asset.” – Blake (43:31) Resources & Links: Blake Hutchison  LinkedIn: ⁠https://au.linkedin.com/in/blakehutchison⁠  Twitter: ⁠https://mobile.twitter.com/blakenow⁠  Flippa: ⁠https://flippa.com/⁠  Billy Samoa Saleebey  LinkedIn: ⁠https://www.linkedin.com/in/billysamoa⁠  Email: ⁠[email protected]⁠ and ⁠[email protected]⁠  Insight Out  Website: ⁠https://insightoutshow.com/⁠ This is an encore episode and was originally published on December 23, 2022 Learn more about your ad choices. Visit megaphone.fm/adchoices

After starting as a barista in 1996 to becoming the co-founder, owner, and Co-CEO of Biggby Coffee, this week’s guest on Insight Out is Mike McFall, a growth-minded entrepreneur that believes in the power of self-awareness, positivity, and conscious capitalism as the core values of a successful business.  His book, Grind: A No-Bullshit Approach to Take Your Business from Concept to Cash Flow, focuses on the importance of revenue and practical ways to build cash flow in a budding company. He also explores his philosophy that business requires us to be aggressive and simultaneously self-aware.  In this episode, Mike and I discuss the road to becoming CEO of a successful corporation, why conscious capitalism and company culture are at the core of employee retention, why focus is a critical component in building a business, and more. In this episode, we discuss: The key lessons that sailing around the world at 16 taught Mike (3:40) Mike’s journey as a Red Wings fan and the importance of visioning work (5:43) A breakdown of the visualization process (10:06) How Mike was introduced to conscious capitalism and the way it transformed his business (13:10) How Mike became partners with Bob Fish (23:44) The importance of competition in business (27:28) Why self awareness is a critical component of your business (29:43) How to ask for valuable feedback (33:10) The biggest contributor to Biggby Coffee’s success (35:41) Mike’s advice for aspiring or current business owners (38:26)  Why entrepreneurs need to be like the sun (44:30)  Mike’s approach to fostering a people-first company (48:07) How to develop company culture that respects the employees (51:37) Where to find Mike McFall and his final word of advice (56:35)  Notable Quotes: “When you say something enough, you begin to hear yourself say it, other people hear you say it, and they can support you. And it helps to reaffirm that you’re on the course to go where you want to go.” – Billy (9:26) “The real root of conscious capitalism is that it’s an inclusive environment where you don’t make tradeoffs between these different components and that you make decisions that everyone benefits from.” – Mike (20:29)  “Your self awareness is the most critical component to the success of your business.” – Mike (30:31)  “In the end it’s not about revenue. What it’s about is it’s about improving, and it’s an obsession with improvement. And when we obsess with improvement… the revenue generation, the growth, is a subset of the obsession with improvement.” – Mike (42:34) “Leadership is about setting the example and then living within that constantly.” – Mike (47:16) “In the end, people just want to be around other people who they relate to and they feel a connection to as another human being.” (59:19) Resources & Links: Mike McFall  LinkedIn: ⁠https://www.linkedin.com/in/mike-biggby⁠  Instagram: ⁠https://www.instagram.com/mikejmcfall⁠ Biggby Coffee: ⁠https://www.biggby.com/⁠  Billy Samoa Saleebey  LinkedIn: ⁠https://www.linkedin.com/in/billysamoa⁠  Email: ⁠[email protected]⁠ and ⁠[email protected]⁠  Insight Out  Website: ⁠https://insightoutshow.com/⁠ This is an encore episode and was originally published on December 30, 2022 Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Will shared his experience and how the far-reaching consequences of trivial acts, and self-awareness have shaped his goals and mindset. and the positive effects of not being afraid to do crazy things. Will is an avid learner and has earned certifications as a Stockbroker, Flight Instructor, Certified Product Manager, Technical Trainer, Commercial Pilot, Microsoft Certified Systems Engineer, Cisco Certified Network Associate, and Certified Professional Behavioural Analyst, I've invited Will here today to learn more about the methods and tools he's developed to achieve success and the techniques he continues to use to expand his life are all described, taught, and delivered in the many businesses, leadership, and peak performance workshops, seminars, and events Will delivers.  Tune in to get important insights on self-improvement! What we discuss: ·        Love of learning. (01:41) ·        The power of reaching consequences of the trivial act. (3:30) ·        The seriousness of unforgiving neglect. (4:11) ·        How to focus on those little things in the right way. (5:27) ·        The importance of a checklist. (10:11) ·        Doing something a little bit crazy. (18:11) ·        How to set goals and hold people accountable. And how to communicate effectively with teams of people. (24:34) ·        The goal or intention of the meeting. (28:20) ·        What are the Ground rules. (29:35) ·        The seriousness of time management. (38:01) ·        Billy and Will talk about the impact they have on themselves and how they value time. (38:35) ·        The key metrics, goals, and problem-solving. (43:13) ·        The eulogy goal. (43:13) Notable quotes: ·        “Bad decisions. Make good stories.” (18:56) ·        “ You have to move a ton of dirt to get one carat of diamond.’’ (26:50) ·        “Business problems are like quicksand. The more you struggle, the faster you sink” (32:17) ·        ‘’ Everybody around you is going to die someday and you're going to lose people along the way. So never, ever waste another single second, doing anything that wasn't the absolute best thing you could be doing.” (38:21)   USEFUL RESOURCES:  Will’s Website:⁠ http://goalboss.com/⁠ YouTube:⁠ https://www.youtube.com/c/WillPemble⁠ Social Media: ⁠https://www.instagram.com/willpemble/?hl=en⁠ ⁠https://www.facebook.com/willpemble⁠ ⁠https://www.linkedin.com/in/willpemble/⁠ ⁠https://twitter.com/willpemble⁠   Support the show (⁠https://www.patreon.com/bePatron?u=23010497⁠ ) This is an encore episode and was originally published on May 13, 2022 Learn more about your ad choices. Visit megaphone.fm/adchoices

How can we shift our thinking in order to break a pattern? And how can we take positive action to make transformative changes in our lives? That’s the focus of Scott Miller’s new book, “Master Mentors Vol. 2.” It examines key insights from 30 of the world’s most transformational leadership thinkers – including Seth Godin, Susan Cain, General Stanley McChrystal and more – and provides simple steps to implement the same insights in your own life.  In today’s episode, Scott joins me to talk about the most valuable lessons he’s learned from his own mentor, the concept of transformational insight, the subtle nuances between self-worth, self-esteem and self-confidence, why vulnerability is a key element of leadership, and more. “I think the power of transformation has the power for you to see yourself differently. It has the power for you to challenge your paradigm, your mindset, your belief system, to say, gosh, I always thought about gratitude in this way, but now I'm gonna think about gratitude in this way. Or I thought about what's next for me or my business model. They're personal and professional. I think it's really intended to help kind of shake you to say you've been in this pattern of thinking this line of behavior and just shaking a little bit to say, is that serving you well? Is that serving those around you?” – Scott (06:03) Top 3 Takeaways  A mentor can be anyone. “I don't think you have to know or be in an intimate relationship, professional relationship with your mentor at all,” Scott says. It doesn’t matter that you can’t meet with them for one-on-one guidance; a mentor is anyone who helps you understand how to improve your life, and in the age of podcasts and YouTube, you can get that wisdom in a variety of ways.  Try to assume positive intent. Everybody makes mistakes, and sometimes even the most well-intended words come out wrong. A person’s words say more about them than they do about you.  Self-worth is inherent and unchanging. “Self-esteem and your self-confidence ebbs and flows based on your sense of self and the kind of relationships you're in and the things that you do that you value or don't value,” Scott says. “But your self-worth cannot be changed and no one else can change it.” In This Episode (01:13) Why you don’t need to meet your mentor to benefit from their wisdom (05:21) Scott’s definition of a transformational insight (07:14) The practical applications of insights, and using them to transform your life (11:30) Bobby Herrera’s life-changing bus ride (22:50) Self-worth vs self-esteem vs self-confidence (31:51) “Your future truth should be your present.” (36:03) BJ Fogg and the power of tiny pattern-breaking habits Resources & Links Billy Samoa  https://billysamoa.com/ https://www.facebook.com/BillySamoaSaleebey/ https://twitter.com/BillySamoa https://www.instagram.com/billybelieve/ https://www.youtube.com/channel/UCCjQ9RSxYqDS4_VxBHNyQJw https://www.linkedin.com/in/billysamoa/ https://billysamoa.com/podcast-archive/ https://billysamoa.com/video-carousel/ ⁠https://billysamoa.com/blog-with-sidebar/⁠ Scott Miller ⁠https://www.scottjeffreymiller.com/⁠ ⁠https://www.facebook.com/scottmillerj1⁠ ⁠https://twitter.com/scottmillerj1⁠ ⁠https://www.instagram.com/scottjeffreymiller/⁠ ⁠https://www.linkedin.com/in/scottmillerj1/⁠ Mentioned ⁠https://tinyhabits.com/book/⁠ ⁠https://bobby-herrera.com/⁠ https://www.franklincovey.com/speakers-bureau/sean-covey/ This is an encore episode and was originally published on August 26, 2022 Learn more about your ad choices. Visit megaphone.fm/adchoices

Who do you look up to the most? Is it a superhero from a comic book, a famous athlete, or a historical figure? We often forget the everyday heroes who quietly make a big impact on our lives. Our dads, the real-life heroes in our families, shape who we become, teach us important values, and help us navigate life's twists and turns. In today’s episode of the Insight Out podcast, I have the pleasure of having a conversation with Paul Epstein. Paul has a remarkable background as a former top-tier executive in both NFL and NBA organizations, and he's also a two-time bestselling author of the books "The Power of Playing Offense" and "Better Decisions Faster." His exceptional achievements in 2022 earned him a spot among SUCCESS magazine's prestigious list of accomplished thought leaders, sharing the spotlight with well-known names such as Tony Robbins, Brené Brown, Gary Vaynerchuk, and Mel Robbins. Furthermore, Paul's work has received significant recognition and media coverage, being featured on major platforms like ESPN, NBC, Fox Business, and USA Today.  In our conversation, Paul shares powerful stories about the impact his parents had on his life, shaping his core values of growth, impact, courage, authenticity, and belief. He discusses his father's influence on his students and his mother's courage in the face of adversity. Paul also talks about his journey from a successful sports manager to a more authentic self, acknowledging the role of his executive coach, Suzanne, in this transformation. He introduces the "head heart hands equation" for decision-making and discusses the importance of personalizing and internalizing values. The episode highlights the significance of authenticity, self-reflection, and making better decisions faster. In This Episode: [05:30] Age 19: A pivotal and life-changing moment [07:42] Real leadership and impact [09:44] Courage modelled by Paul's dad [09:51] Courage as a superpower [12:13] The ripple effect of small acts [14:10] Finding and living your core values [20:31] The beauty of the journaling process [22:02] The importance of memorializing and defining values [26:23] The impact of belief and humility [32:18] Feeling off despite winning [34:09] Feedback on not caring about the team [37:12]Overcoming self-limiting beliefs [40:31] The audit and self-reflection [41:49] The Jerry Maguire leap [44:00] The head-heart-hands equation Notable Quotes [00:11:00] “Courage is standing tallest when fear and risk are highest” -Paul [00:14:29] “Confidence is the Annie that we need to make better decisions faster. Confidence is the Annie to play. If you want to play offence in a world that is largely stuck on defence and so confidence is the through line.” -Paul [00:27:16] "I want to surround myself with people that do what they don't want to do in the unseen hours because they believe in it and because they care about it. That, in a sentence, is how I would describe people that win in life.”- Paul [00:32:18] “I don't feel purpose, there's a bunch of different shades of this, it's a very gray kind of space but like at the end of the day you just know it's not perfect” -Paul Resources and Links Paul Epstein ⁠https://www.linkedin.com/in/paulepsteinspeaks/⁠ https://www.instagram.com/paulepsteinspeaks/ ⁠https://www.paulepsteinspeaks.com⁠ This is an encore episode and was originally published on October 27, 2023 Learn more about your ad choices. Visit megaphone.fm/adchoices