Living The Red Life - How to Maximize Your Profit & Exit as an Entrepreneur (with Jason Phillips)

Episode Date: May 6, 2024

This episode features my good friend "Jason Phillips". Someone who has successful built and exit multi million dollar companies time and time again. He shares his background, starting from a challengi...ng financial situation in 2014 to rapidly growing his online coaching business to multiple seven figures. He then transitioned to building a certification institute for coaches and eventually decided to focus more on profit and happiness, leading to the decision to sell one of his companies and restructure the other for cash flow.We delve into various aspects of entrepreneurship, including the importance of understanding the market, creating separation in the marketplace, maintaining clean financial records, and building a strong team. The evolution of marketing strategies, emphasizing community-driven and connection-based approaches. We also touch on lessons learned from previous exits, such as the need for vision, understanding personal branding implications, and leveraging data-driven decision-making to maximize profitability and prepare for exit. I'm Sure you will find this episode very insightful!CHAPTERS2:08 - The Journey to Profitability: From Broke to Seven Figures3:28 - Reevaluating Success: Lessons from Backing Out of Diligence5:05 - Finding Happiness in Profit: A New Business Paradigm7:02 - The Struggle of Day-to-Day Operations: Visionaries vs. Managers9:02 - Maximizing Profit: Evolution of Business Models10:36 - Transitioning to a Leaner Model: Streamlining for Higher Profits11:19 - Ensuring Impact: Balancing Profitability with Purpose15:21 - Marketing Insights: Strategies for Growth and Differentiation20:08 - Creating Market Separation: The Key to Sustainable Growth21:07 - Preparing for Exit: Lessons in Vision and Strategy22:38 - Standing Out in a Crowded Market: The Importance of Uniqueness23:43 - Navigating Personal Branding: Balancing Asset and Liability25:09 - Planning for Transition: Integrating Personal Brand into Business Exit Strategy26:05 - The Power of Data: Leveraging Analytics for Success26:09 - The Path to Acquisition: Maximizing Value for Long-Term SuccessConnect with Rudy Mawer:LinkedInInstagramFacebookTwitter Connect with Jason:Facebook - Jason Phillips

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Starting point is 00:00:00 So much of the business advice that's talked about in the online space speaks to companies that are, they don't really have a brand. So how are you maximizing profit? Yeah, so obviously you built this company to millions and millions and millions and a team and everything and now you're prepping for exit. What were some of the lessons growing this kind of business through all of that for you? Have a really clean books from day one. I think a lot of entrepreneurs, especially the digital space, overlook the importance of record keeping. I also think finding the right staff is really important and the right leadership. Some leaders are great
Starting point is 00:00:36 people, great motivators, but they're terrible at operation systems, frameworks, and data. And I've been through a couple of exits. I think my first one was 28, and it took me six months to clean up my books and records to get ready for an exit. And I'm glad it happened at 28, right? It's still pretty young. And I think with entrepreneurs, as many podcasters we listen to and hear this from people like us, probably still won't do it until we get an IRS audit or we try and exit. We're stubborn, right? We like to learn the hard way for some reason. My name's Rudy Moore, host of Living the Red Life podcast. And I'm here to change the way you see your life in your earpiece every single week.
Starting point is 00:01:13 If you're ready to start living the red life, ditch the blue pill, take the red pill, join me in Wonderland and change your life. Guys, welcome back to another episode of Living the Red Life. We've got a great session today talking about profit and how to maximize your profit. And that is with my good friend, Jason. Buddy, what's up? Welcome to the podcast. I appreciate you having me on, man. Thanks for making this happen. He's got his blue background. I got my red. And we actually are going to have some opposing views today, which is going to make for a fun episode where we're talking about different outcomes and ways to run your business around profit, gross revenue, and scalability. So I'm super excited for this because, you know, like most things in life, we came from a nutrition fitness background and there's never one right answer.
Starting point is 00:02:00 There's many ways to meet and achieve an end goal so i'm excited to talk about this today uh but jason before we get too far into it maybe it'd be good just a minute overview of your you know growth and everything and how you got to this point and why now you are focused more on the profit side yeah dude so super good background 2014 i was as broke as they come um i was your typical meathead that was like bouncing around job to job aimlessly probably the most unhirable person in the world and so I quickly realized I should do something with my life
Starting point is 00:02:35 it was that year it was actually Thanksgiving that year I was overdrawn on my bank account I couldn't afford coffee and I was like alright I'm going to figure it out in the next 12 months, made a million dollars. I quickly grew my online coaching business to multiple seven figures. I think I was one of the first at that time to take online health and fitness
Starting point is 00:02:54 to multiple seven figures. You know, 2017, realized there was probably a bigger purpose, introduced the Nutritional Coaching Institute to certify coaches, teach them what I was doing, and build that up to where I actually have an offer for exit in 2022. And really, man, 23 was an interesting year for me because I actually ended up backing out of diligence in December of 22 with the goal of building bigger and bigger. And I realized that I wasn't getting happier and happier despite how large it was getting.
Starting point is 00:03:28 And I really had to take a step back, man. And it was like, what am I doing? Why am I doing it? What is the end outcome I truly desire for this? And I realized I had not asked myself that in years. So as we sit here, 2044, I'm preparing to sell one of the companies and the other is really built purely on cash flow. I talked about profits and happiness. Those are the two that I'm allowing to run my life right now.
Starting point is 00:03:57 And if it's not profitable, if it doesn't make me happy, I'm probably not doing it. Yeah, it's great. It's a great like concept that I mean, a lot of people are transitioning to the last couple of years, right in our space or mutual friends of ours. And it's, you know, it's something that I think, uh, sometimes gets lost in transition, maybe for you during that journey. I know for me, like, it's always a thing I question, right? Like it's all about growth, growth, growth scale um and it's i mean i try and always realign every three months and that's when i cut stuff out and pivot and you know i've definitely ended up in times in situations where i'm like hey i'm not enjoying this as much now and i think i've done a good job of when that happens i change you know i drop partnerships
Starting point is 00:04:41 or i change the structure of the meetings or the team or bring in new execs to help. So I think it's so important as an entrepreneur, because I think when we start, the goal is just revenue. And then obviously we switch and realize, hey, we can maybe have less revenue, but more profit. And I just think, you know, we often forget that. So what led you to decide that and how are you now running the company differently? Yeah. So, you know, I mean, it's interesting because I think so much of the business advice that's talked about in, you know, in the online space speaks to companies that are largely being built with like enterprise value in mind. And so like I say that and I primarily think of like the odds for Moses in the world, right when i when i lost a lot of his stuff and it's like readdest and bro and reinvest and
Starting point is 00:05:29 scale and reinvest it's like yeah like dude that can build massive enterprise value in your company but most most companies especially like b2c services they'll they don't really have a brand they don't really i'm not intellectual property they have an individual and that's never going to be sellable from an enterprise value level and so you know i have an entity a nutritional coaching institute clearly it can have enterprise value but um you know i come from the coaching space and so for me to get that company into where i want to go would require probably a lot more i'm going to say this, it's going to come out really bad, probably sacrifice than really I want, right? Like I'm building business with a few picks of bud. I come from absolutely nothing. I have a family, you know, I have a
Starting point is 00:06:18 daughter and I want to make sure that, you know, the relationships I have and my child are set up for quite some time. For me, that is a function of cash flow. There's risk when you're playing the enterprise value game. I'm chosen to hedge my risks quite a bit. I was hitting a level of burnout. I realized that the level of burnout for me was I was no longer living on the side of things that I wanted to be living more. I was spending time managing people, managing systems, managing processes. And that's what a CEO should do.
Starting point is 00:06:58 Like a hundred percent. Yeah. It sounds like my life. Exactly. And like, I realized that I always say this tongue in cheek, but a little bit of seriousness, like I'm like the dumbest entrepreneur to ever make millions of dollars because like, I'm just the guy that's really good at coaching. Like I was good at like good advice. Now I'm good at like business vision, but like, I don't love running the day-to-day structural integration type things like not by jam i'm visionary through and through i'm connection to customers through and through
Starting point is 00:07:32 and and so i i've been removed from from the things that i truly enjoy and so you know i could either hire a big staff which is going to kill my margin and continue building enterprise value totally fine and or i could just choose to to be happy dude i'm 39 i turned 40 in august like you know i uh i want to be happy man good good well look i mean you know i i mean that's the most important thing about an entrepreneur is do what you love right and um and that's why we become entrepreneurs. And yeah, I think it's an ego goal for a lot of people. It's just to grow gross revenue. And even for me, like I have goals of being a billionaire and I actually thoroughly enjoy
Starting point is 00:08:14 as stressful as it can be at times. It's kind of like running. It sucks when you're doing it, but you feel good about it after, right? And that's how it is with my business. You know, sometimes when stuff happens in the day, it sucks for an hour or two, but I thoroughly enjoy building the big teams and the systems and the KPIs and the infrastructure and frameworks and the mass expansion idea. And I've always said, look, if I make four or 500k a year profit, like any more than that, I'm just going to put it in investment stuff that's boring to me that i'm never gonna see that doesn't excite me right what excites me is what most people hate
Starting point is 00:08:49 which is growing you know going through all those growth pains and and you just have to tailor it to you so i mean uh i would love to talk now about so how do how are you maximizing profit yeah so i've actually so nci kind of spoke of evolution, right? In the sense that in the very beginning, we were purely an artificial certification company. You know, we recognize that we were putting a lot of really qualified individuals out into the space. And by putting them out into the space, we were doing so very unprepared, right? Because just because you know how to coach somebody in nutrition doesn't mean you know how to apply to clients.
Starting point is 00:09:27 It doesn't mean you know how to handle a business. And so we actually started doing business consulting. And so what we recognized, the majority of the staffing and the infrastructure was all the certification side. All of our ads were running to that. All of our folk velvet was on that. And the majority of the consulting, that's kind of my bread and butter. um all of our ads were running to that all of our full government was on that and that like the majority of the consulting that's kind of my bread and butter that's what you know i kind of came up
Starting point is 00:09:49 in as a coach and so i actually separated the two companies into two completely different llcs and so i'm allowing one to operate that's the one i'm in the process of selling uh and and so i'm still running that very same you know um higher gross profits, bigger teams. And I've really removed myself a lot of the operations. I've got fantastic teams inserted over there. I really don't touch very much over there. I'm just out of advice here and there. I've almost 100% put myself into just the consulting side where, you know, now we do, you know, in the next three to four
Starting point is 00:10:25 months, we should hit almost 100K a month there. And I've got one employee. And so, you know, obviously profit margins are upwards of 90% there and I can take home significant amount. So it really was just identifying the things of the business I loved, finding a new vehicle to kind of wrap them up in and almost creating its own business. You know, I wanted to get something out of all the work I put in. I mean, obviously, we've been running the business since 2017, so seven years. We've 18,000 customers, so I don't even know the ones that are inactive. And so it's like, obviously, I want to make sure that the impact of that company still is seen through.
Starting point is 00:11:11 I mean, I still very much believe in the product and what it does for people and really the ripple effect it has into the world. So I wanted to make sure that it was kind of put into a place that was going to be good at all costs. Yeah, I love that. What were some of the kind of, you know, obviously you built this company to millions and millions and millions and and a team and everything and now you're prepping for exit what was some of the the lessons growing this kind of business rule of that for you oh man where do i start yeah uh have a really clean books from day one okay i think a lot of entrepreneurs especially the digital space overlook the importance of record keeping yeah i wanted um i know the first time i went through diligence they requested a lot of numbers that they just frankly didn't have yeah there's you know there's a little bit of embarrassment
Starting point is 00:11:55 when you're like sorry i don't have that um but it also you know i think they were pretty understanding and at the same time it's like that's a lesson learned um and i and i think you want to be making data-driven decisions you know i think that now more than ever i look at the same time, it's like, that's a lesson learned. And I think you want to be making data-driven decisions. You know, I think that now more than ever, I look at the growth of that company from through the lens of more numbers, not just emotions, based on marketing and sales objectives. And so that was a big one.
Starting point is 00:12:19 I also think finding the right staff is really important in the right leadership and so i've always said that i don't categorize myself as a very good leader um i think that i'm very much like i just kind of in my own world like i'm not really uh i'm not the guy that's ever going to be like the rah-rah cheerleader and so like i'm i i'm also very bad at like going in connecting with the team and just like wanting to like check in with people that's not how i operate i'm very like reclusive in my own personal life so um in the business life that's not great you know your team needs to feel the form they need to be recognized seen for understood and i had to recognize that
Starting point is 00:13:03 about myself so you know there's some level of uh ownership that you have to have as a CEO of understanding, you know, who am I. Yeah, we, I mean, a couple of things there. Like for us, we, same thing. Like I know my strengths and weaknesses as a leader. And because I'm like so driven towards this goal of all these big companies and stuff, I don't stop and smell the roses, right, as we speak, which for me is fine, because that's, I think that's if you look at Michael Jordan, Kobe Bryant, all the best people in the world, they win a championship and they start training the next day to win the next season, right, so I think that's a trait of a lot of high performers, but I realize a lot of my staff and people around me don't function that way. So like I have a COO and a C-suite and a head of people that kind of come up behind me and fill in a lot of those gaps. And I mean, it's so important to know as a leader, like some leaders are great people, great motivators, but they're terrible at operations, systems, frameworks and data. And I'm pretty good at all those things um whereas you
Starting point is 00:14:05 know i you know i have people around me to fill in those gaps i think that's great and and i've been through a couple of exits and a few audits and all those things so i i think my first one was 28 and it took me six months to clean up my books and records to get ready for an exit and uh i'm glad it happened at 28, right? Still pretty young. So like for the rest of my life, I'm like, well, I'm not doing that again. So now I'm going to get everything right going forward. And I think with entrepreneurs,
Starting point is 00:14:33 as many podcasters we listen to and hear this from people like us, probably still won't do it until we get an IRS audit or we try and exit. You know, we're stubborn, right? We like to learn the hard way for some reason. I completely agree.
Starting point is 00:14:47 I mean, I think that, like, your CFO is one of the most important members. Yeah. I think a lot of, like you said, they're going to hear this, and they're immediately going to tune it out. And just don't say we didn't tell you to. Yeah, yeah. You learn the hard way. Like, that's the stubborn part of an entrepreneur,
Starting point is 00:15:03 but also the part that keeps us going when we've been punched in the face a hundred times, right? So, and then what about, you know, like let's, you know, obviously you've built this great company and it's not without being good at marketing and sales and all of those things. So how did you, you know, I don't know if you want to share the revenues
Starting point is 00:15:24 you've built it to, but how did you get it there in terms of you, you know, I don't know if you want to share the revenues you've built it to, but how did you get it there in terms of more, you know, the actual acquisition models? Yeah, you know, so we started very organic there. I learned a really good lesson in marketing. You know, 2017, our first fiscal year, we did 1.2 million. And that was just off the back
Starting point is 00:15:41 of me having a really good reputation of being a great nutrition coach. Yeah. 2018, our second fiscal year, we only did $700,000. And so we lost $500,000. And that's when I realized the marketing. And so, you know, that's when I started, like, learning the game of marketing. And so, you know, 2018, we were able to get to 3.3.
Starting point is 00:16:03 2019, I think we did a little north of seven, uh, you know, 2020 and 2021. I think we were upwards of 12. Uh, I think the highest, like our biggest month for like 1.8. Uh, so yeah, like we had, uh, we have some pretty good numbers for the size of company that we were, um, you know, I, the acquisition model for us has always been very community driven. So it's always been very connection based. There's a gift and a curse in the sense that when we went through diligence the first time, I think it was something like 90% of purchases were made relative or in some way connected to my like yes yes we call
Starting point is 00:16:47 that a key man problem yeah it's a pretty key man problem uh you know we've since gotten that down significantly yeah um we've had to like diversify what nci truly is it's not just jason phillips nutritional strategies um but it's uh yeah i mean I think that that was like the first thing. And I think that, you know, no matter how far away we get from me being the king man, um, connection is still at the core of what we do. Uh, we teach the connection based model. And so, you know, even our ads are going to get you to a conversation as fast as possible with one of our team members, not necessarily the sale, um, but some level of conversation, some level of understanding of where you're at.
Starting point is 00:17:27 But I think that we've always been really simple, man. I think we've always tried to keep it as basic as possible. How do we keep our lead costs low? How many of those leads are tackling it, the conversations? How many of those conversations are turning into sales opportunities? And then how many do it close and then once we close um you know what is our ascension model and so those are the numbers that we live and die by you know we we can look at them every month we can look at the trends and
Starting point is 00:17:57 we can make reasonable predictions then it's just figuring out different ways i think that my real genius in marketing has always been to reverse engineer decision making. So when I look at, well, why would somebody buy NCI? We're not the cheapest nutritional certification in the world, right? There's PN that I think you can get for like $50 a month. There's DASM. And I have to say that have much bigger names than us. People keep coming to us. And so the whole reason we came to the space was we recognized that everybody's selling the same thing and if i went and built a certification on the same knowledge we would just blend in and we probably would get a little and so we had to
Starting point is 00:18:34 figure out the gap we had to figure out the missing link and the missing link was the national and nobody had ever taught application and so um you know in our marketing it's like all right well why would everybody be frustrated well they're frustrated because they still don't know how to create a result for a so we've just really been good at that. I think that's always been my piece and I've always been able to stay relevant when it comes to the hooks. I've always kept up to date with what's happening in the industry. And I think that my genuine passion for what we do, I'm a former inter-exit. So whether I like it or not, I'm always going to be mildly obsessive about health and fitness. Yeah, just. It just drained into who I am.
Starting point is 00:19:30 And so the fact that I actually know the industry is probably helpful. Yeah, I think it's interesting because, like, we teach a lot about creating separation. I call separation in the marketplace, right? Everyone else is doing this. How do you take a step and, you know, a sidestep to the right or left and create that separation and i started in the health space too i remember i did my pn sir about 12 years ago or something back in england and they they had at the time some decent separation from all the typical
Starting point is 00:19:56 things and i mean they did very well and had a big exit or something um you know many years ago and it sounds like you kind of did the same of like, how do you revolutionize an industry a little, right? Because, you know, the health space is so much educational based. Oh, here's all the science. Here's all the macros and things. But that missing link is how do you apply that to clients? And it sounds so simple when you say it,
Starting point is 00:20:20 but it helps you, you know, generate tens of millions of dollars by just taking that and that slight pivot. So I mean, anyone listening, that's so important in marketing. I always say you don't have to reinvent the wheel. You just have to edit the wheel a tiny bit and create distinction. And I think that's a great example. So I would love to know just now, you know, we've talked a lot about prepping for exit and knowing your books and stuff, but what are some of the other lessons for an entrepreneur like me or you we didn't come out of you know san francisco we
Starting point is 00:20:51 don't understand necessarily the whole exit thing we both mean you started in the health space right and we've been exited now exited out of companies and stuff or prep for them so what would you teach an entrepreneur that's looking to build for exit or about to go through one man that's a really good question um i'd probably teach them to follow you before they follow me uh i think that you know the reality is if you're building a company for exit you have to understand why you should be acquired and then like where you've been you know into the marketplace i think that one of the most valuable conversations i ever had pre-diligence you know like right before i got my loi was you know like where do you see nci going and why do you feel like that's important to the
Starting point is 00:21:35 marketplace and you know i was able to understand very quickly the role of private equity what they do and how they operate and so uh in my my explanation, I was able to explain where this linked up to other companies, how it added value to other companies and really what role would play in a fund that wouldn't inevitably get exit. I also think you really have to have vision for your industry. I think a lot of us get so caught up in the day-to-day and yet your product has to be good, you have to execute, you need to be able to fulfill, but you also need to understand where you're going. I mean, as you said,
Starting point is 00:22:12 we both started in public fitness. Public fitness today, 2024, is far different than when you started. I mean, in 2014, internet coaching was centered around email once a week. You know, in 2024, internet coaching is now like full access. Yeah, yeah, crazy.
Starting point is 00:22:27 All these apps and this stuff, yeah. Like it's a different game. And so I think you have to be, you have to understand where it's going and you have to make sure, you know, where you're safe against those things. And then, you know, a lot of companies that are prepping for exit,
Starting point is 00:22:42 I remember Garrett White once talked about the middle ground being the most competitive space. know when you're a new company you have nobody chasing you you have nothing to lose them so you're kind of nipping at the heels of yeah and you're at the top you know you have nobody really above you so you're just guarding against the people coming up but when you're in the middle you've got people nipping at your heels and you're trying to get to the top this is cause to battle like do i grow do i protect like what are what are the things i'm doing and i think that you really really have to understand what makes you who you are and i think you need to lean into those things and then you have to have vision about growth and so um if you
Starting point is 00:23:19 don't have those things in play you're just another company and i promise everybody there's probably a company out there with more money and that can replicate your service your marketing capabilities very quickly and capture your market share very quickly and if you don't know what makes you unique it's probably gonna end yeah i think um i think the the interesting that's happened over the last five or ten years is the interplay with all of that and then the social personal brand side right which can be a devil and a you know a devil and a blessing for building a brand and then trying to sell it but um i think it's a fascinating you know complexity now that a lot of us are so enticed about building personal brands and leveraging that to grow and grow the business and then how do we handle that
Starting point is 00:24:05 at exit and that's something i had to learn like the first time i went to exit i laughed when you said 90 of your customers had some connection to you because i think mine was like 80 when we ran that analysis um and i was gonna you know stay on for a year and all that jazz and then but now we're building you know entities that can be um you know exited without me right and we are very obsessed with these um you know self-fulfilling acquisition models where i'm not the main driver but in one of my businesses my own brand i still am and it's so powerful so i think um understanding the interplay of personal brands because i'm sure you've done still well because of
Starting point is 00:24:45 your personal brand but you've had to figure out how to sell without it at the same time 100 yeah i mean and in the current you know i'm getting rid of the well i guess i'm under lli now so i'm getting rid of enter collagens again but um you know it's uh yeah i mean i'm gonna have to stay on for at least a year, probably two, and, you know, transition appropriately. And that's having done the work, you know, this last analysis. So it's definitely something you have to consider. I think that obviously personal branding is sexy. I think there's a lot of people out there that want you to understand
Starting point is 00:25:18 or want you to think that if you have a personal brand, you can monetize it. I mean, you and I could probably talk about a hundred people you know that have large personal brands that are broke and it's uh you know it's still the skill of being able to monetize something that people need and and you know sure visibility is a massive asset i i definitely think that it's a huge um you know attribute to a business. But if you sell the visibility that's linked to a personal brand and you can't orally that and you can't find other means of that same visibility acquisition or, you know, effectively, you're just going to increase cost of acquisition.
Starting point is 00:25:58 Yeah. And if a company comes in and buys you and has to increase cost of acquisition and can't also at the same time increase ltv when now they have a less profitable business which doesn't make a lot of sense for acquisition yeah i mean can the data probably to finish here is the last thing that we've not talked about but we've kind of both talked about you know subconsciously through this conversation is the numbers right knowing you know all private equity looks at, I worked with PE to look at over 200 companies to acquire and, you know, they just look at spreadsheets, right? Really. And even as
Starting point is 00:26:32 an entrepreneur, you know, I really got obsessed with lifetime value and spreadsheets and numbers and projections and CPAs and acquisition costs. And, you know, how long it takes to break even and blah, blah, blah during that process, during that process over the last five or six years. But it's really helped the way I've grown companies. Once you understand it from a CFOP perspective, it actually changes. I mean, that's when it allows you, one thing that allows you to start growing a big company
Starting point is 00:26:58 because before that, as an entrepreneur, you're just looking like, well, how much profit am I making? What's my bank account show right now right and how many staff and ad costs do i have on a little spreadsheet that's how most of us do it um so just knowing the numbers right so important because you can make so many decisions from them yeah and i think it's like the tedious part that no one wants to do i think inherently like we all have ideas around sales and marketing I think that you know we're all think every human like them both like how to make friends influence people even realize that people like to talk about themselves right and we all love to talk about
Starting point is 00:27:36 ourselves we all love to talk about our products we all like to talk about how good it is we all know the need to say to think that our product was going to change the world and so what we don't have possessed for is like diving into the spreadsheets and so uh it takes a really mature entrepreneur to care about the spreadsheets as much as they care about everything else and i think that's just a learned behavior i i don't know any entrepreneur and i'm sure you've met way more than i have i don't know any of that like on day one they were like oh my god i'm so excited about the spreadsheets. I think that you learn the behavior.
Starting point is 00:28:08 And then there are people that absolutely love it. They're like, I see the value in this and I see what it can do for a company. And they learn to love that at a very high level. But I think that the faster you can mature into wanting to have that be an integral part of your decision making and your growth strategy, I think the better off you'll be. Yeah, I mean, the spreadsheet lovers are generally like psychologically wise, like most entrepreneurs aren't that person because we can take risks and all these things and step into the unknown. And the spreadsheet guys are the scientists or the
Starting point is 00:28:40 CFOs coming out of Harvard and stuff. Right? So, but it's not hard to learn. Like, I mean, you know, and this is where it's always comes back to hiring for your weaknesses. Like I was really good at maths and science and spreadsheets. So through my sports science, so I took to it pretty quickly when I understood it.
Starting point is 00:28:58 And I have other entrepreneurs and lots of clients that suck and they have no chance of ever reading a spreadsheet. And it's just like, they hire a great team around them to start like, you know, breaking it down at a third grade level, like a picture book, right?
Starting point is 00:29:10 And they're like, if we spend more here and spend less here, we'll make more money. And that's like, okay, got it. So you just gotta, yeah. Yeah, you just gotta hire around your weaknesses. So just to finish, how do, you know, what's next for you? And after this exit and stuff,
Starting point is 00:29:23 I know you focus on profit. Anything else cool coming up? And how people uh connect with you on socials if they if they have more questions or want to follow your journey yeah man um i think what's next is really just growing the consulting side keeping it where i want it to be um and and really staying committed to like the core of just being happy and profitable uh you know i'm totally fine cash flowing one to ten million a year leaving the money to exit invested and putting that into work for me um you know personally i'll just play lots of golf obviously uh yeah i mean it did to follow uh i'd love to give you an instagram but it was banned apparently because instagram
Starting point is 00:30:00 sucks and i constantly get banned so uh the best way is just facebook man um i'm pretty responsive over there and i put the majority of my content there we got a youtube channel logic pretty soon and next uh yeah you know i'm pretty excited i think uh it's an honor obviously to be here dude i love what you're doing and um you're you're crushing it dude so it's it's fun to watch and honor to play your friend cool good well i appreciate that and it's been yeah it's been great to see your journey and i'm also i'm very excited for the next part of your journey like this this leaner consulting side and and i definitely uh you know kind of admire from afar while i'm building this cruise ship that i have to manage and it's frozen fun
Starting point is 00:30:41 so you know you look off when you it, we'll all be admiring. Yes, that's the thing, yeah. But sometimes it's a lot of fun watching the jet ski zip around. That's how I describe my business versus most people. But thank you for coming on. And guys, I hope you had a lot of value out of talking about profitability and building for exit and entrepreneurial lessons.
Starting point is 00:30:59 Like, I really love this episode because we both started talking about deadlift squats and macros. And now we're doing a little more than that. And if we can do it anyone can do it right guys until next time keep living the red life jason hank you i'll see you guys soon take care

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