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BiggerPockets Business Podcast

Author: BiggerPockets

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Welcome to a real-world MBA, where entrepreneurs guide you through what it really takes to start, scale, and sell your own business.

Your hosts: J and Carol Scott, who left careers in corporate management to launch their own house-flipping business. Every Tuesday, you'll meet a new guest and learn actionable tips for hiring, firing, marketing, raising capital and more.

So whether you're looking to boost profits or bring a new idea to life, you'll come away informed and inspired. Tune in, and learn how to treat your business like a business!

99 Episodes
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Rocky Lalvani came to the United States as a small child. Like many immigrants, Rocky’s parents arrived with a small amount of money, around $25. As hard workers, they were consistently talking to their friends and relatives about how to make more money so they could have the coveted “American Dream”. This is how Rocky started his education in money and finances, and what pushed him to become wealthy.Now, Rocky teaches businesses and entrepreneurs the Profit First system, which is exactly what it sounds like. A business usually calculates profits as sales - expenses = profits. Rocky argues that this is an inefficient way to see your true profit, and what the actual calculation should be is sales - profit = expenses.You may be asking how to minimize expenses so the above formula can work. The solution to this isn’t that you need to manipulate the numbers so your expenses equal the difference between your sales and your profit, but that you need to minimize your expenses when possible. But what about fixed costs? What about startup costs? As Rocky puts it, you need to have a customer before you start having expenses, something businesses rarely realize is not only possible, but profitable.Rocky also goes into his #1 tip for accumulating wealth and dives deep into why the phrase “the rich get richer” tends to be true. He also goes into how businesses can allocate their profits correctly, have the accurate amount for taxes, and pay themselves first so they’re making money while their money makes money!In This Episode We Cover:How Rocky became a millionaire through compound interest What the Profit First system does for businesses and entrepreneursHarnessing the 40% of your work that creates most of your profitDismissing the notion that you need to spend more to grow How real estate investors can use Profit First in their businessesSetting up separate bank accounts and allocating your moneyAnd So Much More!Links from the ShowDave RamseyHome DepotBiggerPockets Business Podcast 06: How to Manage Your Time Like a Millionaire With Jay PapasanBiggerPockets Business Podcast 30: How to Guarantee Profit From Day 1 with Mike MichalowiczCheck the full show notes here: http://biggerpockets.com/bizshow97
There are often standard prerequisites for starting a company. First, you need to go get a degree for a certain field, then you need to find a job that is in that field, then you need to stay in that job for 10 years to gain connections, and finally, you can start a business. Jeff Fenster, serial entrepreneur and founder of Everbowl thought this linear path was a bit outdated. If anything, Jeff thought it was slightly backwards!Jeff planned on becoming a lawyer in college, but once he had his first child, realized that being away from home wasn’t for him. He got a sales job and became the top sales rep in his company. When the company started dangling bonuses over his head, he felt uncomfortable and knew that he needed to start his own thing.He ended up founding a company that directly competed with his former employer, then sold that company, started another, sold that one, started a few more, sold those companies, and many companies later, he started Everbowl, a craft acai bowl and superfood company based out of San Diego.If variety is the spice of life, then Jeff is doing things right! He argues that the best thing you can do is go into a completely new industry, focus on a problem that competitors are overlooking, build systems to make the industry better, and carve out a portion of the market. This strategy has worked well for him as he’s profitably sold and started many different companies. If you want his breakdown on his formula to success, you’ll have to tune in to this episode!In This Episode We Cover:Why industry experience isn’t necessarily a prerequisite for successHow “fresh eyes” disrupt stagnant markets and industriesWhat to do before you try and solve a business’s problem Developing systems that beat competitors for youAddressing the not-so-obvious needs of customers Focusing on company culture and core values when building a businessLeveraging your “relationship capital” for future opportunitiesAnd So Much More!Links from the ShowAmazon AlexaBlockbusterNetflixBlackberryiPhoneBest BuyAmazonIkeaWe Build StuffNeil PatelUdemyEtsyFiverrFreelancer.com Check the full show notes here: http://biggerpockets.com/bizshow96
Building businesses from the ground up isn’t easy. It requires patience, hard work, and most importantly, a solid team. Without trust in that team, the product, the company, and the vision can completely disintegrate. When a team flourishes, you can create a massive success, where everybody wins. Tucker Merrihew and Elliot Smith have been working throughout the past year on Call Magic, a service that helps uncover leads for real estate agents, wholesalers, flippers, and other real estate professionals. Elliot originally teamed up with Cole Ruud-Johnson (who you’ll hear on our Real Estate Podcast, very soon), and everything was running well, but they realized they needed a leader. After Elliot talked to Tucker about the project, Tucker was in. There was just one contingency: the product and the company had to be the best of the best. The three partners agreed to put their all into it, and respect each other’s work. Cole already had experience running an outsourced cold calling team, Elliot had years and years worth of real estate experience under his belt, and Tucker had the Real Dealz Podcast audience at his disposal. Elliot and Tucker walk through setting up your business and your team for success, what to worry about and what to hold off on, hiring team members from overseas, and growing a business to scale, not fail.In This Episode We Cover:What to look for in a business partner/what to look for in an existing partnershipHow to “dummy proof” your businessManaging, paying, and hiring workers that are overseas How to have better cold call conversations that secure leadsSetting out to become the best of the best in your industry Trusting your partners and letting them show their strengths when working togetherAnd So Much More!Links from the ShowBiggerPockets Real Estate ShowBiggerPockets Podcast 381: 5 Rules for Investing in a Down Market with Tucker MerrihewMarketing Machines, Spec Houses, Flipping & Wholesaling | PodcastBiggerPockets Podcast 255: Six-Figure Real Estate Investing in Just 20 Hours a Week with Elliot SmithBiggerPockets Podcast 394: Making a 25 Deal/Year Business (and Marriage) Work… Together! with Elliot and Chrissy SmithAppleTeslaCheck the full show notes here: https://www.biggerpockets.com/bizshow95
What does humor and business have in common? At first glance, not much, but after digging a little deeper, there’s quite a lot that humor can teach us about business. Peter McGraw, behavioral scientist, author of Shtick To Business and The Humor Code, and host of the Solo Podcast kept wondering why we find certain things funny. He decided to put it to the test in his lab, HRL, the Humor Research Lab.Peter discovered that we often find things funny when they’re wrong, but okay. Threatening, yet safe. Things that make no sense, yet make perfect sense. Most importantly, you don’t want to be the person who thinks they’re funny, but actually isn't it. You have to think funny, not just be funny. You have to fight the status quo constantly, to make material that people will find outlandish, but true enough to laugh at.But how does that relate to business? Peter brings some great business examples that followed the same flow of most comedy writing routines. Take AirBnB for example, when they first launched the idea, most people thought they were crazy. I mean, who would want to sleep in someone’s spare bedroom or mother-in-law suite for a weekend? It turns out, almost everyone in the world would.These kind of outlandish but great ideas come through a process that Peter calls “Sh*t-storming”. Contrary to regular brainstorming, sh*t-storming is when you throw out crazy ideas, and sometimes, something will come out that is so crazy, it actually works. Besides AirBnB, Peter relates this to Tim Ferris’s cold calling method and the P90x workout system as just a few examples.Comedy and business aren’t that far apart in the idea creation stage. Follow Peter’s advice and your business won’t get laughed out of your next meeting!In This Episode We Cover:The underlying theme of humor and why we find things funnyHow writing jokes and creating businesses overlapFighting the status quo to create something that is greatHow to create a “chasm” so your customers love you and you’re haters don’tThe importance of keeping an idea journal to write inSaying yes to happiness, regardless of the financial outcomeAnd So Much More!Links from the ShowPeter McGraw's TEDx SpeechJoel Osteen's ChurchTony Horton's WebsiteJerry Seinfeld: 23 Hours to Kill AirbnbTim Ferriss's BlogBarry's Bootcamp Check the full show notes here: https://www.biggerpockets.com/bizshow94
An author, a CTO, and a champion ballroom dancer walk into a podcast...it’s Mark Herschberg! Mark is a man of many talents, graduating from MIT, becoming a champion in ballroom dancing, and later becoming a COO and CTO for multiple startups. How does someone do it all, and do it all so well?After college, Mark was working in computer science and began having to hire new team members on board for the companies he worked at. He realized that many new hires had technical skills, but didn’t have skills that correlated to becoming better leaders or teammates. Mark saw that there was a whole realm of soft skills that weren’t being taught to graduates coming into the workforce. So he partnered up with MIT to develop a course on acquiring these skills and became a lecturer. He’s been teaching this material for the past two decades!As the classes went on, Mark decided to write some notes that every student would be able to use throughout the class. After writing close to 100 pages, Mark realized that this wasn’t just a set of notes, this was a full-on book. This became The Career Toolkit and taught Mark not only how to write, but the challenges of publishing and marketing a book.If you’re a solo entrepreneur, a CEO of a startup, regular employee, or still looking for career opportunities, Mark advises that you create a career plan, outlining what your life, career, and future will look like. How can you accomplish the goals you’ve set and what do you have to do to put yourself in a beneficial position?Maybe you’re shy or introverted and find it hard to talk to partners, maybe you want to know how to network in a post-COVID world, or maybe you want to know how to manage teams and lead a company to optimum efficiency and employee satisfaction. Mark does a fantastic job of answering these questions and more in a succinct and relatable way.In This Episode We Cover:Developing your soft skills like leadership and teamwork The skills all entrepreneurial endeavors requireWhy you need to stop treating your 1000th customer like your 1st customerCreating a career plan (regardless of if you work in corporate or work for yourself)Building your network and creating reciprocal benefits Networking in a digital age and why you should always have business cards on youAnd So Much More!Links from the ShowCognosco Media ResourcesLinkedIn Check the full show notes here: http://biggerpockets.com/bizshow93
Negotiation is all around us, whether we see it or not. Whether it’s a business negotiation, an argument in a relationship, or convincing your child to eat their greens, you’re always negotiating. With us on today’s episode is Kwame Christian M.A. Esquire, host of the Negotiate Everything podcast and author of Finding Confidence in Conflict.Most people think you have to be a lawyer to be an expert negotiator. Kwame argues that this isn’t true. Since we are constantly negotiating every day, we have the ability to level up our skills to become experts in debating and negotiating. He stresses that winning a negotiation doesn’t mean beating your opponent so they’re embarrassed at the end. It means giving you AND the opponent the ability to walk away from the situation with a win.Kwame preaches “compassionate curiosity” as one of the best ways to research how an opponent may answer questions you present to them. Tie this with some creative problem solving, and you’ll come out of the debate a winner.As real estate investors, this is especially key to our line of business. We’re constantly debating with sellers, buyers, appraisers and more to get outcomes that benefit us. But how can we suggest an outcome that makes the negotiating partner feel good and presents us with future opportunities? You’ll have to listen to find out!In This Episode We Cover:Why negotiating isn’t just arguing and how to find wins for both partiesUsing “The Empathy Loop” as a tactic to have the other party feel heardThe 3 pillars of negotiation, and keeping them in mind when we debateThe biggest mistakes people make when negotiatingResearch vs. preparation (when to use which for what)Compassionate curiosity and seeing your opponents point of viewMaintaining your “form” throughout negotiationAnd So Much More!Links from the ShowPrevious BiggerPockets Business EpisodesFinding Confidence in Conflict | Kwame Christian | TEDxDaytonAmerican Negotiation Institute Guides (Gift)Virtual Negotiation and Conflict Resolution Handbook (Gift)Check the full show notes here: http://biggerpockets.com/bizshow92
If you’re a new entrepreneur, it may seem like a dream to sell a business for millions of dollars. People like Chris Younger, make that dream a reality. Chris founded Class VI Partners, an investment bank that helps entrepreneurs plan and prepare businesses for sale. Chris will be the first to admit that selling isn’t an easy process, it takes time, patience, and a lot of documentation.Chris compares selling your business to running a marathon: you need to be in it for the long haul to finish strong. He helps owners reach a price point that works for their future, and helps create the processes around selling that enable a new owner to carry the business to new heights. For many owners, success in selling comes from doing the hard work upfront, not putting it off for your future self (and employees) to deal with.So why would an entrepreneur want to sell? Maybe it's personal timing and they feel like they’ve given the business as much as they possibly can. It also could be business timing, the business may be seeking a new change in direction. Or it could be buying timing, a buyer comes in with the right offer, the right ability, and makes the sale.Whatever a reason for selling a business, a business owner needs to be prepared for their business to sell at some point. So even if you’re just starting out, hearing words of wisdom from Chris may net you a few more million dollars!Check the full show notes here: http://biggerpockets.com/bizshow91
You may own a small business, some rental properties, or are just tinkering with a new idea. Regardless of where you’re at in your entrepreneurial journey, you’re most likely trying to make something that will not only resonate with customers, but allow them to solve a problem in their life. So how do you make a product that accomplishes this to the fullest extent?Today we talk to Ben Foster, founder of Prodify and Chief Product Officer at WHOOP. Ben has been in this space for a long time, working with big names like eBay and Opower. After his initial success at corporate he founded his consulting firm, Prodify and has since then worked with 70+ different companies all tackling a common goal: make a great product.If you’re just starting out in your business, you may think the best course of action is to tack on as many useful features as possible into one product, but Ben warns against this. Companies that tend to do well with products are the companies that have a core competency and then build out from it.Great products also take market input from the customers that matter most. That doesn’t mean only the top 10% of users for an app, that means the bulk majority of customers who use the app. This is where many product teams get it wrong, and as you’ll see in the interview, there are a lot more caveats in product management than originally meets the eye.If you’re interested in product marketing, engineering, management or anything else related to building a great product, check out Ben’s book Build What Matters and of course, listen to this episode!In This Episode We Cover:What product management really is (and what the goal should be for teams)The difference between products for sale and product managementWhat makes a great product team How to achieve (and go after) product market fit When to release the initial version of your productWhich opinions matter most when collecting customer data Building an infrastructure so products can succeed from the startBad product traits to avoid when building out your productAnd So Much More!Links from the ShowOpowerE-bayDropboxMint.comIntuitWealthFrontMicrosoftAmazon HelloPolar WatchGarminLinkedInTeslaLeapFrogCheck the full show notes here: https://www.biggerpockets.com/bizshow90
For the first episode of 2021 we have David Greene from the BiggerPockets Real Estate Podcast! We’ve heard from David before on a couple of past episodes, but today he goes over something a bit different: how he successfully scaled his real estate business from being a sole agent to a team doing $90,000,000+ in transactions a year!This didn’t happen overnight. It took David years of trial and error to find out what really works in real estate, why most agents fizzle out in the first 5 years, and how to bounce his team members off of each other to generate more sales and higher commissions.David has strategies and advice not only for real estate agents, but also for business owners that want to build a business that has the ability to scale. In 2019 David’s team did $26,000,000 in transactions, in 2020 they did $90,000,000 and in 2021 they’re planning to hit $150,000,000. We’re sure David will fly past that milestone as well!You’ll hear why David became an agent in the first place, why marketing is key to real estate (and almost every other business), how to gauge motivation from clients and prioritize accordingly, and some lead generation strategies David’s team uses.Real estate agent or not, this is some great information that big and small businesses can take to heart and put into practice right away!In This Episode We Cover:Why you should read David’s new book, Sold!The difference between an average agent and a great agentWhy 87% of agents are out of the business within 5 yearsHow to market your products and servicesTop lead generation strategies for real estate agentsUnderstanding your skills/weaknesses so you can build a team to compensate for themThe importance of “baseline adjustments” when talking to clientsWhy a W2 mindset doesn’t work in a 1099 careerAnd So Much More!Links from the ShowBiggerPockets Business Podcast 20: The Questions You MUST Ask Every Potential Hire with David GreeneBiggerPockets Business Podcast 88: What’s Your Special “Cut”? Why Brandon Turner and David Greene Doubled Down on Theirs in 2020BiggerPockets PodcastBiggerPockets New BooksGoBundanceKeller WilliamsColdwell BankerBiggerPockets ForumsCheck the full show notes here: http://biggerpockets.com/bizshow89
If you’re a fan of the BiggerPockets Business Podcast, you’re probably also a fan of the BiggerPockets Real Estate Podcast. Lucky for you, we’ve got a combo of these two shows on today’s episode!Joining us from Maui are the co-hosts of the BiggerPockets Real Estate Podcast, Brandon Turner and David Greene. Both Brandon and David are known for their persistence and ingenuity in business, this is cemented in the fact that both of them made huge leaps forward in 2020, while many other businesses fell by the waysideBoth Brandon and David realized earlier this year what their “special cut” was, and how to use it to scale their businesses faster, and with less effort from themselves.Both of them started adjacent businesses to what they were currently doing, only to find that their success grew even faster when they bounced businesses off of one another. They also got more comfortable with hiring, making executive decisions, and as Brandon likes to put it “being the general of your own life”.But how do business owners persist to strive for success, even when the odds are stacked against them? Brand and David also have an answer for this as well, and it comes in the form of morning rituals, community, coaching, and perseverance.This isn’t an episode about real estate. This is an episode about how you can take the losses or wins from 2020, and turn them into something bigger and better than you ever imagined...In This Episode We Cover:What Brandon and David have been working on this yearFinding your “Dr.Ozd Cut” and how that enables you to grow your teamHow to provide value to a mentor or business professional you’d like to work withThe top trends of successful real estate investors and businesspeopleHow adjacent businesses allow you to expand your reach and use your existing resourcesHow to “be the general of your life”, specifically with businessBrandon’s morning ritual for success How to find the right business and performance coach (and why it’s worth the investment)And So Much More!Links from the ShowBiggerPocketsBiggerPockets New BooksBiggerPockets Podcast 423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan SullivanGoBundanceBiggerPockets Business PodcastBiggerPockets Podcast 398: 22 BRRRR Properties in Under 10 Hours Per Week with Tarl YarberBiggerPockets Podcast 427: The 12 Week Year and The Danger of Long-Term Goal Setting with Brian MoranBiggerPockets Podcast 425: Focusing On Your $10,000/Hour Tasks (And How to Outsource the Rest!) with Benjamin HardyBiggerPockets Business Podcast 06: How to Manage Your Time Like a Millionaire With Jay PapasanBiggerPockets Podcast 362: Big Goals? Here’s How to Get Your Spouse or Partner on Board with Jay and Wendy PapasanBiggerPockets Podcast 113: Becoming a Millionaire Real Estate Investor Using The One Thing with Jay PapasanBiggerPockets Podcast 403: Developing a Millionaire’s Mindset and Overcoming Limiting Beliefs with Performance Coach Jason DreesCheck the full show notes here: http://biggerpockets.com/bizshow88
You hear the word “franchising”, what’s the first thing you think of? For many people, they think of selling hamburgers, sandwiches, or opening up convenient stores. To franchise matchmaker and consultant Jon Ostenson, that’s just the surface level. There is a whole world of franchising that many entrepreneurs and business professionals don’t know about.Jon started out working in consulting for Fortune 1000 companies and was slowly introduced to the concept of franchising. Jon found franchising incredibly interesting, as a cross between new business ownership and existing systems/infrastructure. The business model purely made sense. Now as the CEO of Franbridge Capital, he works with entrepreneurs and franchise owners as a matchmaker, seeing who would work best with which franchise, and vice versa. Jon walks through some of the key benefits of franchising that other business models don’t have, and some of the dangers for interested entrepreneurs. He also goes through the different franchise business models and some franchise examples that you may have never thought of.How much risk is in franchising? Does franchising produce better ROI than other businesses (even real estate)? What are the opportunities in 2021 for franchising?Hearing Jon’s answers may present a whole new world you never knew about, and might even get the ball rolling for you to become a partner in a franchise yourself!In This Episode We Cover:The different types of franchising businessesThe key benefits of running a franchiseThe dangers of franchising that entrepreneurs should knowWhat type of profit margins you can make with franchisingHow territories work when buying into a franchiseTaking over an existing franchise or starting a new one yourselfHow to fund franchises (even with retirement accounts!)The industries where franchises could be taking off in 2021And So Much More!Links from the ShowBiggerPocketsSubwayEntrepreneur's OrganizationCheck the full show notes here: https://www.biggerpockets.com/bizshow87
Jonathan Wasserstrum, founder of SquareFoot likes to say that he was working in PropTech before PropTech was a thing, and he’s right! For the past few decades, many industries were seeing expansive growth, new ideas, and upgraded technology. One of the industries that didn’t see that tech growth was real estate.Jonathan found that many commercial real estate customers were looking for a consumer-facing option to view commercial spaces from the comfort of their own homes. Why were there so many residential real estate sites, but no commercial real estate sites? That’s where Jonathan’s company SquareFoot came in!SquareFoot took off and over time was becoming a staple product for those looking for commercial real estate spaces. Due to its success, Jonathan was in a great position, which allowed him to become an angel investor for real estate deals and different startups, passing on his knowledge and capital to other new businesses!Jonathan talks syndications, funds, and investing as a whole. For any investor who wants to see their industry grow and advance forward, Jonathan is a great success story showing you have the power to change your industry for the better!In This Episode We Cover:How to start a self-funded venture, even at a young ageWhy real estate is such a great industry (residential and commercial!)Why startups have such a high mortality rateWhy PropTech is so important to investors, tenants, and all real estate professionalsWhy “flexibility is the future”The difference between syndications, funds, and moreWhy investing can make you a better business ownerHow angel investors think when investing in a new businessAnd So Much More!Links from the ShowBiggerPocketsRedfinUberZillowAngelListSequoiaAirbnbCheck the full show notes here: http://biggerpockets.com/bizshow86
No business has had a tougher time this year than physical-based businesses, and that is certainly the case for our guest, Ralphie Martinez. Ralphie owns Martinez Elite Fitness in Northern California, and was just reaching his business’s peak when COVID-19 started to spread, rendering his business closed until further notice. Ralphie is the definition of someone with an entrepreneur’s mentality. He was working a 9-5 job when he opened up his garage gym for friends to work out in. Friends would invite other friends, and before he knew it, he was teaching a class before going to his full time job, then coming home and teaching two more classes. Like so many entrepreneurs, Ralphie turned his passion into something that not only helped other people, but made money. For the past 6 years, Martinez Elite Fitness has been a local success, gaining more and more members every year. Even in an unprecedented time like 2020, Ralphie has found ways to keep his business going, regardless of shutdowns, curfews, and other roadblocks. Having a positive attitude, the support of his partner and family, and a strong community has helped him and his business stay fighting.In This Episode We Cover:How to harness your passion and turn it into a businessThe importance of having a partner who will push you to follow your dreamsWhy referral and word-of-mouth marketing is a very powerful toolKnowing the “why” behind running your business (outside of making money)Why you’ll need to think creatively when reality is working against youFinding other streams of income even when your business may be slowThe importance of quality time with family, especially during high-stress and uncertaintyAnd So Much More!Links from the ShowBiggerPocketsTaco Daddy'sConcept 2Deuce GymEric ThomasGary VaynerchukNot Not TacosSam the Cooking GuyCheck the full show notes here: https://www.biggerpockets.com/bizshow85
Are you lacking in motivation? Don’t have the focus on you want/need to succeed? Not sure how to define who you want to be and how to get there?If so, today’s episode is for you!Dre Baldwin -- former professional basketball player and current motivational entrepreneur -- has worked hard to get where he is today. He went from sitting on his high school basketball team’s bench to walking on at an NCAA D3 school to building a 9-year professional basketball career AND building a brand online at the same time in 2005. This all led to the foundation for the Work On Your Game business Dre runs today, having reached over 73 million people over the last 15 years through 27 books, 4 TEDxTalks and more content than any human on earth.In this episode, Dre gives us his strategies for building motivation and taking yourself to the next level through discipline, confidence, mental toughness and mental conditioning. Dre talks about his entrepreneurial growth -- including the consistency to have created over 7,000 educational videos in past 15 years, generating over 73 million views!And he provides a framework for how we can do it to…Make sure you listen all the way into the Four More segment for Dre’s amazing tip on how you can be more successful at building an audience from scratch the first time you try!Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!Links from the ShowBiggerPocketsTed TalksDre's Video Sent to J and CarolFree E-book from Dre: Mirror of MotivationBooks by DreCheck the full show notes here: http://biggerpockets.com/bizshow84
Did you know that over 200,000 entrepreneurs currently sell over $100K per year on Amazon? Sales continue to skyrocket with no indication of slowing down anytime soon… and this week, our guest is here to help you get in on the action!Mike Begg -- co-founder of AMZ Advisers -- started a side-hustle business selling on Amazon with three buddies while they all worked corporate jobs. Making mistakes and learning lessons the hard way in the early days, the team never gave up, continuing to learn and tweak their business model until they achieved massive success on the platform. Fast forward five years and tens of millions of dollars in sales, Mike and the team now run their business from the sandy white beaches of sunny Mexico, also helping other business owners generate over $1M in sales each while carving out their piece of the Amazon pie.Mike lays out a step-by-step roadmap for identifying product needs on the platform, sourcing inventory, and building a stellar brand that speaks to buyers and generates sales. He talks about the right way to work with vendors overseas, achieving the right mix of pricing and volume, and determining when it makes sense to create additional sales funnels across multiple channels. And most importantly, he reminds us that anyone-- with focus, dedication and a bit of expert assistance-- has the opportunity to generate significant additional streams of income online.Make sure you listen all the way to the end, when Mike gives us some excellent resources to learn more, right NOW.Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!Links from the ShowBiggerPocketsDeloitteSears Real EstateHelium 10Fiverr99designsAlibabaAmazon's Early Reviewer ProgramUpworkShopifyScott Voelker's PodcastAMZ Advisers BlogJungle ScoutCheck the full show notes here: https://www.biggerpockets.com/bizshow83 
Do you want to get your business to the point where you can simply leave for several months without worrying about things continuing to operate and grow? Do you want to get there quickly and with little risk?If so, today’s episode is for you!Justin Silverio - real estate investor and founder/owner of the real estate marketing company, Open Letter Marketing -- is here to tell us how he he was able to position his company to run on its own in just a couple years. Justin talks to us about key hiring, setting up processes and organizing operations in a way that will allow you, the CEO, to put your team in charge and free you up to focus on other pursuits.In this episode, we talk about pricing strategy (and mistakes), how to massively reduce your expenses, and how to hire the perfect employees who you can trust to manage and run your business.And, for you real estate investors, Justin provides his expertise on how to best handle acquisition marketing for your deals in today’s crazy real estate world!Make sure you listen for Justin’s tip on how to ensure you hire the right person THE FIRST TIME, and don’t end up making a bad hire because you didn’t have all the information you needed about the candidate. This may be one of the best hiring tips we’ve ever heard!Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!Links from the Show:BiggerPocketsIndeed.comBiggerPockets Business Podcast 78: Building and Scaling a Massive Real Estate Business With Nathan BrooksScrumZoomCheck the full show notes here: http://biggerpockets.com/bizshow82
Do you have strengths that can help other business owners? Do you have skills that can be used to help elevate someone else’s business to new heights? Do you have expertise that makes you the perfect partner for someone else’s business?If so, starting a business isn’t the only way to become a successful business owner!Dustin Reichmann -- partner and co-owner of FireCreek Snacks -- was able to take his marketing expertise and turn it into an opportunity that has propelled his and his partner’s business to new heights. In this episode, Dustin provides us a blueprint for using your strengths and expertise to find opportunities to help other business owners, and ultimately create new opportunities for yourself as well.Dustin talks about how to analyze your abilities and use them to start generating income for you TODAY. And also use them to generate opportunity for tomorrow. Specifically, Dustin provides us two great ways to turn anything that you’re good at into a potential new income stream! We also dig into the nitty-gritty of product marketing, including how Dustin was able to get his product into some of the largest retailers in the world, including Walmart.Make sure you listen til the end to hear Dustin’s amazing piece of wisdom for those scared to take massive action.Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!Links from the ShowBiggerPocketsAce HardwareDo It BestTrue ValueWalmartCostcoGrouponBiggerPockets Money Podcast Check the full show notes here: http://biggerpockets.com/bizshow81
Being a business owner is exceptionally rewarding in so many ways… but as all successful entrepreneurs know, it’s certainly not all glitz and glamour! We ALL experience problems, and the way we navigate those problems can make or break our business. But what happens when we take it a step further, creating new opportunities by choosing to not only navigate, but instead TACKLE complex problems head on? Check out Stephanie Betters, founder and owner/operator of SocialMediaREI, Left Main Real Estate Investment Lifeline and Better Path Homes. Mastering the skills of managing it all, Stephanie talks with us about how she started two new income streams that originated from complex problems she solved to help her own business. Realizing many other business owners faced the same challenges, she began offering her product solutions on a broader scale -- all while raising three young children and continuing to practice medicine full-time as a cardiac surgery nurse practitioner.Stephanie tells us about her creative approach to self-solving a problem that would have otherwise cost nearly $100K to outsource, which ultimately led the world’s #1 CRM, Salesforce.com, to come knocking at her door. She serves up a valuable roadmap of the right way to go about finding help (including that first daunting hire of a personal assistant); the critical importance of creating measurable, time-sensitive goals to move your business forward, and avoiding the all-too-common entrepreneurial trap of “starting to drive the bus without knowing where you’re going.” And make sure you listen for Stephanie’s tips on working with your spouse, significant other, or partner… a challenge we all face when growing a business while keeping family front and center.Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!Links from the ShowBiggerPocketsSalesforceBiggerPocketsSharper Business SolutionsCheck the full show notes here: http://biggerpockets.com/bizshow80
Growing a business isn’t easy. But, it gets much easier when you understand the growth process and how you should be navigating that growth as your company’s CEO.Matt Rodak -- founder of Fund That Flip, a real estate crowdfunding company and #647 on this year’s Inc 5000 list -- is with us to talk about how he both started his company and then grew it, with over $500M in total investor loans originated since 2015. Fund That Flip both lends to real estate investors and provides opportunities for lenders looking for passive returns -- Matt discusses his strategy serving two very different customers in your business.Then, in the second half of the episode, Matt walks us through his roadmap for company founders, including the 5 distinct phases of growth every successful founder must follow to take their business from concept to world domination. When should you “go to war?” When should you “focus on peace?” And how to traverse the point in many business owners lives when they start to find themselves getting complacent.Make sure you listen for Matt’s absolutely best tip for how you can stay focused on your business and not get sidetracked by others who don’t necessarily have your best interests at heart!Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!Links from the ShowBiggerPocketsZillowBlog Post: DogfoodingFounder Institute (New York)Check the full show notes here: http://biggerpockets.com/bizshow79
We have a very special episode for all of you real estate investors this week. But, even if you’re not a real estate investor, you’re going to get a TON of great tips out of this show!Nathan Brooks -- founder of Bridge Turnkey Investments and #1304 on this years INC 5000 list -- has built a turn-key real estate investment firm that has bought, renovated and sold over 500 houses in the past 5 years. While we talk a lot about real estate in this episode, we focus on growing and scaling a business, whatever industry it might be in.Just some of topics we cover in this jam-packed episode:Using Key Performance Indicators (KPIs) in your business to track and optimize.Creating processes to scale your business, including when NOT to create processes.Building an amazing culture within your organization, whether you have one employee or 100 employees.And don’t miss the part of the episode where Nathan gives some absolutely fantastic tips on how to find employees, how to interview them, and how to make successful hiring decisions. Make sure you listen for Nathan’s unconventional -- but absolutely spot-on -- tip about that one things we tend to avoid when hiring, but that we should instead be focused on!Plus, Nathan gives nearly a dozen of his favorite book recommendations, many that I promise you’ve never even heard of.Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show!Links from the ShowBiggerPocketsBiggerPockets Podcast 319: Avoid These Common Newbie Mistakes! Hard-Earned Lessons from Nathan BrooksBiggerPockets Podcast 232: The Four Lead Sources Nathan Brooks is Using to Flip 120 Houses a YearBiggerPockets Podcast 159: How to Build a Real Estate Business That Buys 60 Deals a Year with Nathan BrooksBiggerPockets Podcast 087: How to Thrive After The Collapse of a Real Estate Empire with Nathan BrooksPodioQuickbooksPredictive IndexGlory MMAThe Social DilemmaCheck the full show notes here: https://www.biggerpockets.com/bizshow78
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Comments (6)

Sean Sante

Awesome podcast! I just started my first business on Feb 1st of this year, talk about poor timing. Guess I need to pivot quickly.

Mar 18th
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Justin Weeter

What an amazing podcast. Keep it up J & Carol!

Jan 2nd
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Jamie Hanks

I love BP Business podcast. It is extremely educational for a budding entrepreneur or a seasoned one, because the guests they interview have so many insights from industries across the spectrum. Thank you for the content!

Oct 21st
Reply

Jon Penton

Loved this Interview! Employ a governor on your time commitments: “my business partner is my spouse, let me run this by her before I commit” or you can use your calendar: “I’ll need to consult my calendar to make sure I’m available”

Aug 21st
Reply

Adrian North

love this episode!!!!!

Jul 28th
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